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Author: brewer12345 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 74759  
Subject: Re: After meeting with a Financial Advisor Date: 10/3/2003 1:35 PM
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Whew! I think this guy met you and heard the "cha-ching" of the cash register. Run in the opposite direction (which you appear to be doing).

Load funds are in general a bad idea. To make it worse, he would be tying his advice to the commission he gets for selling you the funds - a definate no-no. Stick with what you already do.

If you are interested in finding out what you need to retire, a good starting place is the safe withdrawal study at www.retireearlyhomepage.com They should also have links to other calculators that are a bit more sophisticated than the run of the mill stuff.

On the life insurance: you need to consider your likely needs for insurance, especially how much and for how long. If you have enough term coverage now and you have enough left in the term that you will no longer need it by the time the policy expires, you are all set. If not, you should consider how long you will need coverage. If you need coverage for more than 20 or 30 years, you may wish to consider a UL or VUL policy, since they cover you for life as long as you pay the premiums. However, these types of policies mix life coverage with investing, and the investing component is usually not all that great compared to what you could get in a mutual fund, etc. In particlar, VUL policies resemble expensive mutual funds wrapped in a life policy with a hefty commission. Not real attractive, IMO, but a popular choice (then again, so is tobacco). The other issue with UL/VUL is that the premiums are much heftier than a term policy with the same coverage amount. You may "get something" if nobody dies, but you pay a lot more for it.
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