Want to start saving, need advice!

[ArioSoft]

Tell me, in what specialty are you developing? Maybe you should change jobs or start taking on extra work?

 

[Allen Trent]

Even though your salary is small, you shouldn't be ashamed. The important thing is that you earn an honest living.

Who said he is earning an honest living? For all we know, he could be a government worker

 

[marindependent]

A noted life insurance agent from many years ago said "The most important aspect of financial planning is a bank account."

I like this - mind if I use it?

 

[DHK]

I like this - mind if I use it?

By all means!

The person I heard it from was John Savage, CLU.

At the 16:00 mark is when John says it.

 

[LostDollar]

(Caveat, not an agent)

The most important aspect of saving is attitude.

The most important aspect of financial planning is knowledge.

 

[scagnt83]

Some of the best savers in the world have tiny retirement funds because it sat in cash or low yielding investments their whole life.

Just spoke to a guy last week who has $200k in cash thats been there for 20 years... it would be $600k-$800k by now if invested in even low risk funds.

 

[Allen Trent]

whole life.

Or they met up with a convincing insurance agent that had them put every penny they saved in whole life

 

[scagnt83]

Or they met up with a convincing insurance agent that had them put every penny they saved in whole life

If it was overfunded properly it would have given them 4%+ in returns... far better than cash...

I have many different WL and IUL policies on the books with 4%+ returns on premium. Perfectly fine savings vehicle if utilized properly.

 

[LostDollar]

Some of the best savers in the world have tiny retirement funds because it sat in cash or low yielding investments their whole life.

Just spoke to a guy last week who has $200k in cash thats been there for 20 years... it would be $600k-$800k by now if invested in even low risk funds.

I know that. As I said:

The most important aspect of financial planning is knowledge.