Some poor shlub who was having a bad day decided to troll one of my YouTube videos: *** “Whole life is a scam and anyone selling it is a scamster” *** Translation: “I have no rational argument against whole life insurance. I’m just really, really, mad.” I love receiving such comments because it means I’ve […]
How to make $232,000 from a “worthless” term life insurance policy
My business partners recently published a story about how we saved someone lots-n-lotsa money: *** We recently worked with a 75-year old client who owned a $1.5M term policy. The policy was approaching the end of the guarantee period, the client did not want to pay to convert, and planned to let the policy lapse. […]
Why you should care about the government’s deficit attention disorder
Trump can’t stop spending money. It’s hilarious. It’s not hilarious from a stability-of-country standpoint. It’s hilarious from a “who the hell voted for this guy?” standpoint. I mean, it’s obvious for anyone with eyes to hear and ears to see. You got a guy who has gone bankrupt multiple times in business, so naturally we […]
The dark side of whole life insurance
For your general amusement, and mine, here are “skeletons in the closet” and all the nasty bits of whole life insurance: The whole underwriting process is just plain weird.You have to go through a blood and urine test, answer a bunch of health questions, and wait 2 to 3 months while the insurance company’s underwriter […]
Why asset bubbles should be banned
A stimulating discussion about asset bubbles ensues on Fakebook. I used to believe that asset bubbles existed (e.g. stock market bubbles, housing bubbles, etc.). I don’t believe that anymore and a big reason is because of Forbes editor John Tamny. Tamny focuses on the DUH-obvious fact of financial markets: for every buyer, there is a […]