Financial Advisor - Omaha

[summersatthelake]

Good. Look for somebody that has multiple companies to look at. Each company has sweet spots. If you are in good health, go fully underwritten, don't drink coffee or eat a lot of sugar before your blood work. If you have some health issues (diabetes, heart meds, etc), see if a simplified issue policy is cheaper or even available based on your age.

Unfortunately, $35/month is probably out the window for you.

I drink a total of 2 cups coffee a day, don't drink, don't smoke, and have a check-up every 6 months and it includes blood work. Blood work results are all within the acceptable ranges.
I know $35.00 a month won't happen and have already applied through 2 different insurance companies and blood work was also taken by them and working on best options.

 

[ExxHusker]

Warren Buffett says save the fees and buy and hold SPX (would have made double digit this year).

Whatever you do stay away from bonds right now.

Myself, I started buy Shell at 38 several months ago. I mentioned this on this list for the record. Was paying almost 10% dividend and is trading over 50 now.

I like buying dogs of the Dow. But financial planners can't do anything too aggressive or they'll get sued (unless your a qualified investor).

Robot investing is interesting.

 

[TheBeav815]

I drink a total of 2 cups coffee a day, don't drink, don't smoke, and have a check-up every 6 months and it includes blood work. Blood work results are all within the acceptable ranges.
I know $35.00 a month won't happen and have already applied through 2 different insurance companies and blood work was also taken by them and working on best options.

I had a very good experience with that service that basically lets the life insurers bid on you. SelectQuote I think? I think I did get $35.00 a month. Banner Life is who I ended up with, but the quotes were all over the place.

I think I did a $500K term policy for 30 years. My only regret is not doing a longer term.

 

[TheBeav815]

I completely agree with not wanting debts when you're retired. I am always shocked when 50+ year old buy a house with a 30 year mortgage on it.

I understand about not liking the feeling of debt being out there, but if you have good credit and you can get a mortgage at 4.25% and you can make investment returns of 6-8% the math is there.

So you're not required to feel one way or another about it, but the math is the math. I have to remind myself of this frequently because debt drives me nuts. I wanna rip a big chunk out of investments and pay off a bunch of debt and I have to remind myself that while that sounds like it would feel good today, it would feel bad in 30 years.

 

[GretnaShawn]

I understand about not liking the feeling of debt being out there, but if you have good credit and you can get a mortgage at 4.25% and you can make investment returns of 6-8% the math is there.

So you're not required to feel one way or another about it, but the math is the math. I have to remind myself of this frequently because debt drives me nuts. I wanna rip a big chunk out of investments and pay off a bunch of debt and I have to remind myself that while that sounds like it would feel good today, it would feel bad in 30 years.

I agree (as stated earlier in the thread). I was just saying that it is pretty surprising when people take on new and larger debt later in life. Outside of maybe cars, I hope that I don't take out a new (non-business) loan after 40 or 45. Taking out a large mortgage after 55(ish) just seems crazy to me. Unless you are a very high earner and can pay back the loan in 7-10 years.

I used to work with people who would take out $250k+ mortgages in their late 50s. It was shocking.

 

[schuele]

I understand about not liking the feeling of debt being out there, but if you have good credit and you can get a mortgage at 4.25% and you can make investment returns of 6-8% the math is there.

So you're not required to feel one way or another about it, but the math is the math. I have to remind myself of this frequently because debt drives me nuts. I wanna rip a big chunk out of investments and pay off a bunch of debt and I have to remind myself that while that sounds like it would feel good today, it would feel bad in 30 years.

Yes I understand all that, but keep in mind that the math is the math - until it isn't. I'm sure the majority of senior citizens who got evicted from their homes during the latest crash thought their investment returns were sufficient to cover their mortgage, or their HELOC, or whatever, but it didn't always happen.

I'm not in any way suggesting that everyone should stop investing their money elsewhere and just pay off their mortgage. I'm just saying that part of planning for retirement is to make certain that your monthly expenses are manageable, even if your circumstances change or the economy endures another meltdown. And for me, having no housing costs whatsoever during retirement, except for taxes and insurance, goes a long way toward that goal.