| Whats the one thing you really dont like about a ROTH? |
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JohnnyWFG
New Member
Cash: $ 1.73
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Joined: 30 Mar 2005
Location: Encino CA
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| Whats the one thing you really dont like about a ROTH? |
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heres the biggest gripe about the ROTH, sure it comes out tax free... but you cant touch it untill 59 1/2.
I know of a product with the same tax advantages of a ROTH, the same return on your dollars.. except, you can pull 90% out an ANY time... an just for kicks this can be passed down through your family heritage building and building.
its quite a vehicle, good enough for me too throw my whole family on it with me funding for everyone.
Jonathan C Lupacchini
World Financial Group
Financial Consultant
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Thu Mar 31, 2005 12:02 am |
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BlankenshipFP
Money Talk Advisor
Cash: $ 79.56
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Joined: 05 Oct 2004
Location: Illinois
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This sounds suspiciously like an EIUL or annuity. I'm sure the costs are well hidden, as well...
Please don't solicit on this site.
Jim Blankenship, CFP®, EA
Blankenship Financial Planning, Ltd.
www.BlankenshipFinancial.com
Standard IRS Circular 230 Notice Applies
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Thu Mar 31, 2005 12:08 am |
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JohnnyWFG
New Member
Cash: $ 1.73
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Joined: 30 Mar 2005
Location: Encino CA
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I'm not trying to sell anything, im just bringing up a discussion.
what hidden costs would you be reffering too?, enlighten me
Jonathan C Lupacchini
World Financial Group
Financial Consultant
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Thu Mar 31, 2005 12:55 am |
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BlankenshipFP
Money Talk Advisor
Cash: $ 79.56
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Location: Illinois
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Okay, perhaps I jumped to conclusions. What is the product of which you are speaking?
Jim Blankenship, CFP®, EA
Blankenship Financial Planning, Ltd.
www.BlankenshipFinancial.com
Standard IRS Circular 230 Notice Applies
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Thu Mar 31, 2005 12:14 pm |
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JohnnyWFG
New Member
Cash: $ 1.73
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Joined: 30 Mar 2005
Location: Encino CA
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well, EIUL is capped floor an ceiling(and a participation fee, yuk.. EIUL are still pretty good though) so it cant hang with a ROTH growth, you cant take a policy loan against an annuity without a ugly penalty.
I am referring to a VUL, i have two policys on me, an one for each of my parents. The hidden fees are not "hidden" ther actually right out in the open, someone has to pay Janus to manage your sub accounts. My first policy which im paying in $100 a month is capped out till 2009 ( cause i overfunded it huge) however, it doubled in 3 years!, went from 6k to 12k. A 3 year double is pretty outrageous. Its had down years too.. but the long run always wins. My new policy is $400 a month, but i just started it, that one should be interesting to watch.
That was real brief.. thers much more benefits also, its really the "swiss army knife" of policys. Ill get into more detail if questions are asked.
Jonathan C Lupacchini
World Financial Group
Financial Consultant
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Thu Mar 31, 2005 9:08 pm |
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BlankenshipFP
Money Talk Advisor
Cash: $ 79.56
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Joined: 05 Oct 2004
Location: Illinois
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Okay - so I was off by the difference of an expense ratio. You guys are easy to spot.
What is your commission on this product? Is that right out in the open?
You need to be careful giving testimonials on securities-based products - NASD and SEC are very clear in their prohibition of that activity.
Sorry, thinly-veiled sales pitches, disquised as some dude that just happened on to the best planning strategy since sliced bread, just irk me.
Jim Blankenship, CFP®, EA
Blankenship Financial Planning, Ltd.
www.BlankenshipFinancial.com
Standard IRS Circular 230 Notice Applies
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Thu Mar 31, 2005 9:31 pm |
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JohnnyWFG
New Member
Cash: $ 1.73
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Joined: 30 Mar 2005
Location: Encino CA
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hmm. ok, so i found a plan that worked very well for me an my family.. but sharing it here on your forum so others can have a choice of what they want, is a bad thing?... or soliciting... i thought this forum was to share what options there are out there and discuss them. Im not trying to sell anything on your forum man..im doing just fine, last thing i want to do is try to track people down all over gods green earth. But i do want people to know that are more options than a roth or 401.. or term life or whole life for that matter.
My comission has nothing to do with anything.. whats your commissions?.. irrelevent question.
Ok, you dont want me sharing my opinions cause they differ from yours?
no problem, i will cease an desist.
Jonathan C Lupacchini
World Financial Group
Financial Consultant
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Thu Mar 31, 2005 9:51 pm |
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microjenn
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Cash: $ 1.79
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Joined: 27 Feb 2005
Location: Baltimore, MD
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| VUL |
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My husband and I went to a financial planning service and they "sold" us a VUL. I went home and asked my father about it (he is an insurance man) and he told me to cancel it right away! They way over sold us on the insurance policies and my dad told me that the VULs have their place but it wasn't for a young healthy couple with a few thousand to invest each year. The reason why the "financial planners" like it so much is b/c it has the highest commissions. We dropped the VUL and the "financial planners" when we realized that they didn't have our best interests in mind.
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Thu Mar 31, 2005 9:57 pm |
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JohnnyWFG
New Member
Cash: $ 1.73
Posts: 5
Joined: 30 Mar 2005
Location: Encino CA
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well, im sorry that you think you had a bad investment... you dont really know cause you didnt let it play out. And keep in mind that there are dirty people in every business, thers dirty cops, dirty lawyers, dirty meter maids!... so i can only judge your experience at face value, your planner might have been ripping you off.. its possible. Also keep in mind that every carrier's VUL differs, some are better than others. And no VUL doesnt work in every situation,sometimes a 401k or annuity will work better or even money market account, i dont push people to get it, an i dont care about the comission, i made my money in real estate. HOWEVER, a young couple is the IDEAL situation for VUL, its looong term, im 29 years old, i started mine at 22, an im putting in 1200 a year. someone in ther late 50's i wouldnt even think of it. Everyone is entitled to ther opinion, but since im watching mine work, your dads opinion doesnt really do anything for me (im not trying to be mean, just explaining)... is he securities licensed?.. has he tracked the growth of one?.. they have changed drastically in the last few years.. does he keep up?.. my guess is he made his mark in insurance many years ago, but times are a changin.
i probably came off like a huge jerk.. im sorry, i am entitled to have my own belief an express it bluntly if i have to.
thers nothing wrong with term/wholelife/UL/EIUL.. or any others, suitability will always differ.
i think we can leave this dead horse alone now no?... i dont want to talk about VUL if its offending people.
Jonathan C Lupacchini
World Financial Group
Financial Consultant
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Thu Mar 31, 2005 10:24 pm |
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Rolo
Yo' Daddy
Cash: $ 309.70
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Location: Colorado/Florida
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quote:
Originally posted by JohnnyWFG
I am referring to a VUL, i have two policys on me, an one for each of my parents.
A 'policy' refers to insurance. Insurance is insurance, not an investment. Whole life, etc. = rip off.
quote:
Originally posted by JohnnyWFG
it doubled in 3 years!, went from 6k to 12k. A 3 year double is pretty outrageous.
Not if one of those years is 2003, where I doubled my money in one year.
Also:
-You can withdraw your contributions to a Roth at any time w/o penalty
-You can make withdrawals before age 59-1/2 (what's with the 1/2 bit? make it 59 or 60, sheesh) if you use the IRS Life Expectancy Table and make calculated, even distributions
-The bulk of your Roth will eventually be earnings vice contributions, so it is one helluva tax break
"Expect me when you see me."
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Fri Apr 01, 2005 5:15 am |
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LottomagicZ4941
Senior Member
Cash: $ 7.91
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Location: Earth
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I love my Roth. The thing I don't like is that the gov may change the rules because it is such a good deal.
I had an annuity that my parents were sold as a college saving program.
Rolled it into a universal life. Kicked in 1K a couple of years ago as intrest rates were so dismal elsewhere. American Family was crediting 7% intrest at the time I dumped in the 1K.
Now it is almost down to the 4.5% guaranteed lowest rate.
I have a level premium on the univesal life so when I kick money into it I save on insurance. But it is already dirt cheap for the insurance. But being universal the cost will go up.
The flexability of the Universal life is great. However I love my Roth:)
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Mon Apr 04, 2005 12:21 am |
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Rolo
Yo' Daddy
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quote:
Originally posted by LottomagicZ4941
Rolled it into a universal life.
All those plans blow up after a predetermined time. I'm telling you: you are getting ripped off. Read your policy.
"Expect me when you see me."
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Mon Apr 04, 2005 11:00 pm |
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bill7
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Sometimes its better not to be able to touch it in alot of cases...
as in if one is lacking the disaplene to save regularly...
very interesting forum
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Thu Jun 23, 2005 10:42 pm |
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efflandt
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Location: Elgin, IL USA
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quote:
Originally posted by Rolo
Also:
-You can withdraw your contributions to a Roth at any time w/o penalty
-You can make withdrawals before age 59-1/2 (what's with the 1/2 bit? make it 59 or 60, sheesh) if you use the IRS Life Expectancy Table and make calculated, even distributions
-The bulk of your Roth will eventually be earnings vice contributions, so it is one helluva tax break
First point is correct. But Life Expectancy Tables are a non-issue for Roth IRA, since you are NEVER required to take withdrawls (unless you die, and then there are beneficiary advantages). Gains can be withdrawn tax free after you had the Roth IRA for 5 years OR age 59.5 (or other listed exceptions).
So a Roth IRA is perfect for an emergency fund anytime, or major expenses during retirement, because you will not take a tax hit when withdrawn (except gain before 5 yrs or age 59.5).
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Sat Jun 25, 2005 12:10 pm |
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