Buy term insurance and invest the difference (the difference of premium between term and permanent insurance) is perhaps some of the most pervasive life insurance “advice,” and yet it’s built on a complete misunderstanding of whole life insurance. While it likely comes from a place of frustration and hurt by
“There are no deals in the life insurance industry…” This quote, more perhaps than any other, is something we must take to heart when we work with clients. Not because it’s attractive, but because it’s true. The more we try to glamorize the life insurance industry, the greater disservice we
How do you calculate the internal rate of return on an investment when the cash flows vary and you can’t use other financial calculators because they only function with a consistent stream of money? Well, thanks to the Internal Rate of Return Calculator, you can illustrate any varying income stream
Let’s use a Cash Flow Calculator to tell the whole truth about what happens to an account when it gets taxed. We’ll put in $20 to start, earning 20% over 100 years. Let’s for a moment, imagine that the starting year is 1913, the year the tax system started. We
When people talk about investing, they like to talk about interest rates. One of the most prominent stock market indexes to follow is the Dow. And since the Dow Jones is price-weighted, the points that it measures can look very impressive. However, how do you interpret the Dow as a
One way to extend a client’s income later in life is to delay Social Security checks. After all, the sooner you take it, the less you get per check. The longer you delay, the larger that check gets. After all, you’re pulling from a larger pool of money over a
Understanding how to be a lifelong learner can be one of the greatest assets to your business. Unfortunately, many advisors cut their learning potential short once they become comfortable and feel they know enough to get by. They don’t see lifelong learning as a business strategy. This mistake is silently
Because we often talk about HLV as a multiple of income, this leaves a considerable demographic out of the conversation: non-working spouses. Many families choose to have a spouse at home for various reasons—to homeschool kids, save on daycare costs, and much more. Just because these spouses don’t earn an
In part one of this discussion, we discussed 10 myths about IUL. Now that we’ve dissected those myths, we can get to the truth of why you shouldn’t buy (or sell) indexed universal life insurance. <<Advisors – get a free trial of the software here>> Insurance companies have put many
One of the major problems with the agents and the companies that sell EIUL (Equity Indexed Universal Life, which is what it was originally called) or IUL (Indexed Universal Life, which is what the industry is now calling it to avoid SEC scrutiny) is the gross negligence in conveying the