I have friend who's a teacher up here in the DFW area that told me about the no SS thing. I was like "what?" That sucks. Of course she started feeling ill, thought she may have contracted COVID from one of her students who had just been sent home with it, and told them she would need to go home. They asked her if she would be teaching from home. They told her she'd still be charged for sick days if she taught from home. LOL. It's a bizarre bizarre world in teaching apparently.
ditto for Calif and all other states, according to my sister, a teacher in Calif. teachers have their own pension / retirement plans, as they participate in CalPERS (Calif Public Employees Retirement Plan), which pays better than SS
life insurance... a good whole life policy is great to add to your portfolio to hedge against down markets in your retirement accounts. Also, if you have healthy older relatives, an insurance policy could be a good but unorthodox solution to fund your retirement. If you do the math and plan it right, you could be set in 15 years.
Just invest everything in Tesla and Amazon, kick back and watch all the mad profits come in thanks to superior humans Jeff and Elon.
fastest way to retire is to start accumulating bitcoin immediately (do not sell it) you'll thank me later edit: calculator for dollar cost averaging bitcoin https://dcabtc.com/
Is a whole life policy really the best investment, though? I recently had my life insurance guy try to sell me HARD on a whole life policy. But everything I read seemed to indicate it really isn't worth putting money into unless you've maxed out your 401k, Roth IRA and have a pretty varied investment portfolio. Then you could do it to get a little more variety.
it's simple, if you died right now and people you care about would be without needed income/wealth, buy life insurance if you already have a nest egg to support them, don't
wait, are you suggesting footing the bill for an older relative's term life policy with you as beneficiary?? That doesn't seem very legal.
Yep. His article was one of many that said it either wasn't a good idea, ever, or only a good investment if you had kind of gotten a pretty varied porfolio of a lot of different things and maxed out 401k, roth IRA, etc etc.
This. Going by likelihood/reward, the insurance company will win overall by a big margin, but we only have one life, so it makes sense for individuals to pay a PREMIUM so that in the event that we die, our dependents can still cope financially, not to make $ for ourselves.
If you got hit by a bus today would people who depend on you be without means to provide for themselves? If the answer is yes, you need life insurance, period. It's not that complicated.
Agree 100%, post was for jiggyfly. Buying insurance policies as a way to make money isn't a good idea. buying insurance for insurance is.
Be wary of fees/expense ratios, I like Vanguard because they have some of the lowest fees. I'm more conservative with investing so I went with a Vanguard Wellington for my Roth IRA, very low fees and steady growth.
