2gifts complains,<<intercst: With that kind of wealth accumulation from an insurance agent, Robert must have handled her account without commission.>>I see no reason to be snarky here. What difference does it make if he made a commission or not as she still ended up with $6 million, so didn't seem to suffer from possibly paying a commission. I also note that she ended up with more money than he did, as he had just under $4 million when he died.</snip>I certainly apologize if you found my comments or the arithmetic of this woman's situation offensive. I didn't know you worked in the financial services industry. <LOL>Many people don't realize that the financial services industry operates on a business model that assumes they'll extract 2% per year in fees, expenses and costs from their customers. (Prudential is actually among that elite cadre of firms that manages to take a bit more than 2% from their clients.) Losing 2% per year, every year to an insurance agent and the company he represents has a profound affect on your ability to amass any wealth.Over a 60-year investment horizon (30 years saving for retirement, 30 years in retirement) an advisor taking 2.00% per year will capture 2/3 of your wealth vs. a low-cost index fund portfolio with 0.10% in annual fees and expenses.http://retireearlyhomepage.com/vg_tsp.htmlCompound interest is a wonderful thing. Make it work for you, and not some blood-sucking advisor or insurance agent.intercst
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