Tuesday, August 31, 2010
Where to Invest?
Besides guns, gold, and ammo, I'm starting to look at a whole life insurance policy. There are advantages and problems. A lot of people cite how much more expensive 'whole' is vs. 'term' in premiums. Sure you can buy a 30 year term life policy for a lower cost, but what happens in 30 years when you are 60-65 and outlived the policy? Think a company is going to give you any coverage for cheap? No way. A whole policy lasts your entire lifetime and earns a cash value. In case you did not notice the stock market, bond market, and real estate market have all failed investors. Long term bonds return less than 4%, the stock market feels like a rigged game for computers, and many people lost their nest egg when the housing bubble popped. If they had put that money in a whole life policy, it would still be there. I'm going to get a quote now while young and lock in some cheap premiums compared to starting at age 45.