"Most Americans are wasting over $3,000 per year on the financial services they own." According to a new survey, we are wasting $500 on car insurance, $500 on life insurance, and $2,500 on mutual funds/securities. That could mean an extra $250,000 in 20 years! $700,000 in 30 years!
Most people I have talked to believe that you can’t have enough insurance. They don’t understand that you should insure only what you can’t afford to lose. For instance, for car and home insurance, you are better off picking a high deductible to save up to 40% of the cost of a policy. Claims are infrequent—every 11 or 12 years—so you are more than likely to earn interest on the premiums you save year after year.
Insurance is not an item our moms taught us to buy. Who wants to spend their time comparing coverages? Who wants to meet with an insurance agent? This thinking has changed. Insurance and financial services in general have become commodities, like groceries.
With the Internet and new product pricing, you can actually find a huge difference in costs. Depending on your lifestyle profile and the insurer’s marketing plan, you could pay $3600 or $1400 for the same two-vehicle coverage. The difference—$2200—could accumulate to over $150,000 in 20 years. Both insurers are highly rated and responsive.
The differences in price are significant across almost every type of coverage—life, health, long-term care, accident, disability, and excess liability. See the amount of savings by type at TheInsiderSGuides.com.
The options you pick, but don’t need, can significantly change the price. For each type of insurance, you need the guidance of an unbiased advisor—someone who does not profit from your choices. There are 20 to 30 discounts available. To buy wisely, you must know what you need.
Money management is the area with the greatest savings. Many of us pay over $2,000 a year needlessly. When you read the advice of the most well- respected industry practitioners—Warren Buffett and Bill Gross—you learn that “money management is a gigantic rip-off.” There is little correlation between what you pay in commissions, fees, and spreads, and the after tax returns you end up with over time. A low-cost index fund is best for most investors, Buffett said. Thus, most of us are giving away 1%-2% of our pensions and mutual fund balances—3%-4% when inside annuities. That $2,000 drain on each $100,000 every year reduces your eventual spending power by up to $700,000.
Friday, January 23, 2009
Friday, July 25, 2008
“Professional money management is a gigantic rip-off”
“Professional money management is a gigantic rip-off.” This was written by one of the most successful fund managers, Bill Gross, Director of PIMCO. He admits that his industry is more about luck than skill. People pay managers for the same reason we all think we are superior car drivers. We all think we are above average. Stop and reason! Average means in the middle. For investments, the average—the S&P 500 index—actually beat 88% of large managed funds. businessweek.com/bwdaily/dnflash/nov2003/nf20031114_4313_db013.htm
Recently, a study of the performance of all mutual fund managers over the period 1975 through 2006 shows that NO MANAGER is a consistent winner throughout their career. Some have beaten a market index for some time BUT you can’t count their fees. That’s not fair. We must pay the managers’ fees; even when they lose our money! Just think if plumbers operated like that: Get paid handsomely and don’t fix the leak—they would be sued immediately. Managers don’t stop charging when they lose your money.
Take Away: your earnings will be higher by doing nothing—don’t use someone else to pick stocks or funds—just let it ride on the average of the markets. nytimes.com/2008/07/13/business/13stra.html
An investment in a mutual fund that holds common stocks has provided returns of 12% over most periods 10 years or more. An index fund holds many different company stocks so you don’t lose money if one company goes bankrupt. If you use low-cost funds, you will keep more of what your account earns. If the fund earns 12% and you pay 0.1% for bookkeeping, your investment will compound at 11.9% over time. Every year the returns will be different of course. However, when you hold tight and don’t buy and sell, you win. Instead of paying a stock picker, you should pay a hypnotist to make you forget your long-term account. Our members provide their experiences to illustrate where to invest: http://www.theinsidersguides.com/freeguide.html
Don’t fall for the myth of “professional” money management. Wall Street makes up stories that we want to hear. Money management is just a sophisticated lottery game and only the game owners profit by it.
Recently, a study of the performance of all mutual fund managers over the period 1975 through 2006 shows that NO MANAGER is a consistent winner throughout their career. Some have beaten a market index for some time BUT you can’t count their fees. That’s not fair. We must pay the managers’ fees; even when they lose our money! Just think if plumbers operated like that: Get paid handsomely and don’t fix the leak—they would be sued immediately. Managers don’t stop charging when they lose your money.
Take Away: your earnings will be higher by doing nothing—don’t use someone else to pick stocks or funds—just let it ride on the average of the markets. nytimes.com/2008/07/13/business/13stra.html
An investment in a mutual fund that holds common stocks has provided returns of 12% over most periods 10 years or more. An index fund holds many different company stocks so you don’t lose money if one company goes bankrupt. If you use low-cost funds, you will keep more of what your account earns. If the fund earns 12% and you pay 0.1% for bookkeeping, your investment will compound at 11.9% over time. Every year the returns will be different of course. However, when you hold tight and don’t buy and sell, you win. Instead of paying a stock picker, you should pay a hypnotist to make you forget your long-term account. Our members provide their experiences to illustrate where to invest: http://www.theinsidersguides.com/freeguide.html
Don’t fall for the myth of “professional” money management. Wall Street makes up stories that we want to hear. Money management is just a sophisticated lottery game and only the game owners profit by it.
Tuesday, July 8, 2008
Do you have enough for retirement?
This is the BIG question many people over age 55 ask their advisors.
Most people over age 55 have no idea if they will have enough saved to be able to quit working and live on the income from their nest egg. They may live another 35 years. Most advisors don’t know the answer either.
There is a simple answer: $5.55 a day.
This is the amount necessary for you to have an additional Wealth Reserve of $150,000 in 20 years. BOTH of you can make the $166.67 monthly contribution and have $300,000. It would take doubling that again—$666.67 a month—to reach $300,000 in less time—15 years. Time is the key factor in compounding your money.
EVERYONE needs more money in retirement because of increasing expenses. Most people need their Social Security income too. That income is now in doubt. Our Treasury Department contends that changes are inevitable, because the program seems likely to become insolvent in 2041. Most policymakers seem to agree that, if benefits must be cut, the cuts should affect higher-income workers and retirees before they affect lower-income workers and retirees. Treasury wrote a new “progressive benefits reduction” analysis. treasury.gov/press/releases/reports/ssissuebriefno.%205%20no%20cover.pdf
Everyone can invest $5.55 per day—that’s a cigarette/coffee or a 15 mile trip. Some people can afford to double that. If you can add more, fine. Unless your joint income exceeds $169,000 in 2008, put the money in a Roth IRA. The earnings—$150,000 less $40,000 deposit—are not taxed. There is no income tax, ever. That adds 25% more to your balance. Unlike pensions, regular IRAs, insurance, annuities and savings, there is NO tax or fee. You get to use all your money! irs.gov/publications/p590/index.html
Do you have enough for retirement? NEVER
Ask anyone who is in retirement today. Bread, milk and eggs went up 20% so far. Health care and long-term care expenses are rising. How long will the young people want to pay for our Social Security if it will end before they use it?
Set up an account for you and your spouse in 30 minutes using our members’ strategies: http://www.theinsidersguides.com/freeguide.html
Most people over age 55 have no idea if they will have enough saved to be able to quit working and live on the income from their nest egg. They may live another 35 years. Most advisors don’t know the answer either.
There is a simple answer: $5.55 a day.
This is the amount necessary for you to have an additional Wealth Reserve of $150,000 in 20 years. BOTH of you can make the $166.67 monthly contribution and have $300,000. It would take doubling that again—$666.67 a month—to reach $300,000 in less time—15 years. Time is the key factor in compounding your money.
EVERYONE needs more money in retirement because of increasing expenses. Most people need their Social Security income too. That income is now in doubt. Our Treasury Department contends that changes are inevitable, because the program seems likely to become insolvent in 2041. Most policymakers seem to agree that, if benefits must be cut, the cuts should affect higher-income workers and retirees before they affect lower-income workers and retirees. Treasury wrote a new “progressive benefits reduction” analysis. treasury.gov/press/releases/reports/ssissuebriefno.%205%20no%20cover.pdf
Everyone can invest $5.55 per day—that’s a cigarette/coffee or a 15 mile trip. Some people can afford to double that. If you can add more, fine. Unless your joint income exceeds $169,000 in 2008, put the money in a Roth IRA. The earnings—$150,000 less $40,000 deposit—are not taxed. There is no income tax, ever. That adds 25% more to your balance. Unlike pensions, regular IRAs, insurance, annuities and savings, there is NO tax or fee. You get to use all your money! irs.gov/publications/p590/index.html
Do you have enough for retirement? NEVER
Ask anyone who is in retirement today. Bread, milk and eggs went up 20% so far. Health care and long-term care expenses are rising. How long will the young people want to pay for our Social Security if it will end before they use it?
Set up an account for you and your spouse in 30 minutes using our members’ strategies: http://www.theinsidersguides.com/freeguide.html
Monday, May 19, 2008
THE FACTS OF FINANCIAL LIFE
Keep YOUR kids out of debt! Explain the FACTS OF LIFE now!
You can help your kids stay out of debt and reach all their goals in life by explaining the FACTS OF FINANCIAL LIFE. You can do this only if you know the answers to these two questions asked of 12th graders. These questions were asked of participants in the JumpStart Coalition on Personal Financial Literacy.
Which of the following tends to have the highest growth over long periods, say 18 years?
a) A checking account.
b) Stocks.
c) A U.S. savings bond.
d) A savings account.
At age 25, Mary began investing $5.56 per day, $2,000 a year. At age 50, Rob started saving $4,000 a year. They now are both age 75. Who has more money saved for retirement?
a) They each have the same amount.
b) Rob, because he saved a bigger amount each year.
c) Mary, because her money grew for a longer time at compound interest.
If you correctly answered "b" and "c," you did better than most of the nation's high school seniors. Most got them wrong. A Schwab survey found that while 70 percent of parents had taught their kids how to do laundry, only 19 percent had explained how to invest money to make it grow.
It is not difficult to learn these lessons. In fact, our members have found the pictures and charts in our FREE Guide make it easy to explain the FACTS OF FINANCIAL LIFE. Try it yourself for FREE at www.theinsidersguides.com/freeguide.html
It is a curious thing that our representatives in Washington have not found on a financial literacy course for our schools after 220 years. According to John Adams:
"All the perplexities, confusion and distress in America arise, not from defects in their Constitution ... not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation."
By the way, Mary will have about $6.5 million and Rob will have about $630,000 using a tax-free low-cost broad market index account.
You can help your kids stay out of debt and reach all their goals in life by explaining the FACTS OF FINANCIAL LIFE. You can do this only if you know the answers to these two questions asked of 12th graders. These questions were asked of participants in the JumpStart Coalition on Personal Financial Literacy.
Which of the following tends to have the highest growth over long periods, say 18 years?
a) A checking account.
b) Stocks.
c) A U.S. savings bond.
d) A savings account.
At age 25, Mary began investing $5.56 per day, $2,000 a year. At age 50, Rob started saving $4,000 a year. They now are both age 75. Who has more money saved for retirement?
a) They each have the same amount.
b) Rob, because he saved a bigger amount each year.
c) Mary, because her money grew for a longer time at compound interest.
If you correctly answered "b" and "c," you did better than most of the nation's high school seniors. Most got them wrong. A Schwab survey found that while 70 percent of parents had taught their kids how to do laundry, only 19 percent had explained how to invest money to make it grow.
It is not difficult to learn these lessons. In fact, our members have found the pictures and charts in our FREE Guide make it easy to explain the FACTS OF FINANCIAL LIFE. Try it yourself for FREE at www.theinsidersguides.com/freeguide.html
It is a curious thing that our representatives in Washington have not found on a financial literacy course for our schools after 220 years. According to John Adams:
"All the perplexities, confusion and distress in America arise, not from defects in their Constitution ... not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation."
By the way, Mary will have about $6.5 million and Rob will have about $630,000 using a tax-free low-cost broad market index account.
Monday, April 28, 2008
Are Roth IRAs good for retirement?
Members and their kids keep asking me this question.
Consider two choices: 401k with matching money and Roth IRA.
If your 401k has no match, skip it. Yes, a 401k does reduce your income for tax purposes now and lets your eggs grow tax-deferred. If you invest 10% of your gross, say $3000 a year, you could have $1.2 million in 35 years. However, when you take it out, you may pay 25% or more in federal and state income tax. (We will likely pay Bush’s ‘free ride for the rich’ in the future.) Your tax rate is lower now. Pay the tax on the $3,000 now and avoid tax on the $1.2 million later. Inflation takes HALF your buying power every 25 years, so a MILLION BUCKS won’t buy what it used to. So add $10 a month every year to make up for inflation.
Matching funds from your employer is FREE money! Take it. If you receive 50% on your first 5% of salary, that’s $750 a year. Add that to your 10%--$3,000--and you may find $1.5 million in 35 years. You may have to pay $388,000 in tax on that, but at least you will have $1.2 million to enjoy for the rest of your life.
No matter what you do—401k with match or Roth IRA--success in retirement savings is just a matter of sticking with it. Put your savings and investing on automatic and your retirement income will be assured. Your employer or mutual fund trustee can debit your account monthly for the $250 and you don’t have to worry about retirement again. Our members show you how they did it. They bought “assets that grew by themselves.” They didn’t have to rely on bad investment advice. They didn’t have to write a monthly check.
Start TODAY! It takes 30 minutes. I will email you our FREE Guide: http://www.theinsidersguides.com/freeguide.html
Consider two choices: 401k with matching money and Roth IRA.
If your 401k has no match, skip it. Yes, a 401k does reduce your income for tax purposes now and lets your eggs grow tax-deferred. If you invest 10% of your gross, say $3000 a year, you could have $1.2 million in 35 years. However, when you take it out, you may pay 25% or more in federal and state income tax. (We will likely pay Bush’s ‘free ride for the rich’ in the future.) Your tax rate is lower now. Pay the tax on the $3,000 now and avoid tax on the $1.2 million later. Inflation takes HALF your buying power every 25 years, so a MILLION BUCKS won’t buy what it used to. So add $10 a month every year to make up for inflation.
Matching funds from your employer is FREE money! Take it. If you receive 50% on your first 5% of salary, that’s $750 a year. Add that to your 10%--$3,000--and you may find $1.5 million in 35 years. You may have to pay $388,000 in tax on that, but at least you will have $1.2 million to enjoy for the rest of your life.
No matter what you do—401k with match or Roth IRA--success in retirement savings is just a matter of sticking with it. Put your savings and investing on automatic and your retirement income will be assured. Your employer or mutual fund trustee can debit your account monthly for the $250 and you don’t have to worry about retirement again. Our members show you how they did it. They bought “assets that grew by themselves.” They didn’t have to rely on bad investment advice. They didn’t have to write a monthly check.
Start TODAY! It takes 30 minutes. I will email you our FREE Guide: http://www.theinsidersguides.com/freeguide.html
Thursday, April 3, 2008
Never BUY Retail
Don't waste your money!
Did you know that your auto insurance premium includes coverages that you already have? Most of us are paying $574 for medical coverage, towing, death benefits we already have. Did you know your life insurance premium may include extra premium for Triple X reserves you don't need? Your annuity may be costing you an extra $600 a year, or $20,000 in your lifetime. You could be paying an extra $2,540 for mutual fund fees each year without any benefits. These extra costs add up to $500,000 over your lifetime. These are a few of the actual savings our members have experienced in 2007.
Our experts in banking, mortgage, education funding, mutual funds, securities, annuity, insurance—life, health, disability, long term care, vehicle, homeowner’s, business, lawsuit—vehicle purchase, estate legacy, wealth transfer, retirement spending show you exactly how to save $3,000 a year on the financial services you currently use, using our Internet interactive Guides on disc. You can automatically redirect the amount you used to waste to low-cost mutual funds, which can compound earnings to over $1 million over time. (See the actual returns chart at TheInsidersGuides.com/doityofi.html.)
Our Insiders explain how you can control your financial services costs and protect your family from risks using the products they use. Because of changes in the industry, you can buy where the professionals do—from the highest-rated firms with the lowest fees and commissions. Your advisors can’t offer these products because there are no retail commissions and fees. You can compound the earnings to build your own Wealth Reserve. Your Wealth Reserve can grow to $1 million or more over time. The Wealth Reserve serves as your “self-insurance” fund for your deductibles and supplemental retirement expenses, final expenses and your legacy. Every $100 invested is worth $10,000 later.
An example illustrates how we help members save money and use the savings to enhance their own financial situation, not the seller’s position.
Let’s say you bought MetLife insurance because you believe the agent and company are the best. You think, “MetLife is large and can last at least until I need them to pay the benefit.” However, is it worth paying an extra $17,970 on your level term policy? There are customer-friendly carriers, rated A+, the same as MetLife, charging $384 vs. MetLife’s $983 for the same $300,000 30-year term policy.
Investing your savings of $599 ($983-$384) in your Wealth Reserve for 30 years in a market index (average return) can provide an extra $175,000 for YOUR dreams not the seller’s. Do you get what you pay for? We think not. It is the same $300,000 benefit check to your family.
I am convinced that if most people considered the facts, they would take the money and drop their current policy or account. In this example, the other company has the same AM Best rating of financial strength. Its agents are also available by phone. The same regulator approves its rates. Thousands of policyholders receive benefits from the other company. The only difference is that the other company doesn’t have high expenses: expensive advertising, mascots and senior management.
I think that most people are missing the BIG secret of becoming wealthy—the miracle of compounding. $100 can become $10,000 in time. If all of us knew that over time, we could have a $250,000 Wealth Reserve within 15 to 20 years, we would become copious savers by age 8!! Since it is never too late to learn the “tricks of the trade” and save thousands of dollars, any person can become financially independent. By using our Insiders’ expertise, you can save on services you already own.
Our Insider’s Guides provide the names of financial products and services that are the best solutions for most working people. They explain why this is true. Then they explain where and how to buy products and services that can meet your needs. They help you buy ONLY what you need. You skip the extras that cost more but don’t help you. You buy from the best providers with the highest ratings. They also tell you which products to avoid and why they are NOT your best alternative. The Insider’s Guides cover almost all financial products and services available to you.
Buy only what you need—Never BUY retail
Did you know that your auto insurance premium includes coverages that you already have? Most of us are paying $574 for medical coverage, towing, death benefits we already have. Did you know your life insurance premium may include extra premium for Triple X reserves you don't need? Your annuity may be costing you an extra $600 a year, or $20,000 in your lifetime. You could be paying an extra $2,540 for mutual fund fees each year without any benefits. These extra costs add up to $500,000 over your lifetime. These are a few of the actual savings our members have experienced in 2007.
Our experts in banking, mortgage, education funding, mutual funds, securities, annuity, insurance—life, health, disability, long term care, vehicle, homeowner’s, business, lawsuit—vehicle purchase, estate legacy, wealth transfer, retirement spending show you exactly how to save $3,000 a year on the financial services you currently use, using our Internet interactive Guides on disc. You can automatically redirect the amount you used to waste to low-cost mutual funds, which can compound earnings to over $1 million over time. (See the actual returns chart at TheInsidersGuides.com/doityofi.html.)
Our Insiders explain how you can control your financial services costs and protect your family from risks using the products they use. Because of changes in the industry, you can buy where the professionals do—from the highest-rated firms with the lowest fees and commissions. Your advisors can’t offer these products because there are no retail commissions and fees. You can compound the earnings to build your own Wealth Reserve. Your Wealth Reserve can grow to $1 million or more over time. The Wealth Reserve serves as your “self-insurance” fund for your deductibles and supplemental retirement expenses, final expenses and your legacy. Every $100 invested is worth $10,000 later.
An example illustrates how we help members save money and use the savings to enhance their own financial situation, not the seller’s position.
Let’s say you bought MetLife insurance because you believe the agent and company are the best. You think, “MetLife is large and can last at least until I need them to pay the benefit.” However, is it worth paying an extra $17,970 on your level term policy? There are customer-friendly carriers, rated A+, the same as MetLife, charging $384 vs. MetLife’s $983 for the same $300,000 30-year term policy.
Investing your savings of $599 ($983-$384) in your Wealth Reserve for 30 years in a market index (average return) can provide an extra $175,000 for YOUR dreams not the seller’s. Do you get what you pay for? We think not. It is the same $300,000 benefit check to your family.
I am convinced that if most people considered the facts, they would take the money and drop their current policy or account. In this example, the other company has the same AM Best rating of financial strength. Its agents are also available by phone. The same regulator approves its rates. Thousands of policyholders receive benefits from the other company. The only difference is that the other company doesn’t have high expenses: expensive advertising, mascots and senior management.
I think that most people are missing the BIG secret of becoming wealthy—the miracle of compounding. $100 can become $10,000 in time. If all of us knew that over time, we could have a $250,000 Wealth Reserve within 15 to 20 years, we would become copious savers by age 8!! Since it is never too late to learn the “tricks of the trade” and save thousands of dollars, any person can become financially independent. By using our Insiders’ expertise, you can save on services you already own.
Our Insider’s Guides provide the names of financial products and services that are the best solutions for most working people. They explain why this is true. Then they explain where and how to buy products and services that can meet your needs. They help you buy ONLY what you need. You skip the extras that cost more but don’t help you. You buy from the best providers with the highest ratings. They also tell you which products to avoid and why they are NOT your best alternative. The Insider’s Guides cover almost all financial products and services available to you.
Buy only what you need—Never BUY retail
Thursday, February 21, 2008
Replace your life insurance with a self-insurance fund—Living Insurance?
You are more likely to run out of money than die in the 21st Century.
I am worried about people paying for insurance they won't need.
Consider shifting your dollars to a Wealth Reserve based on the shift in risks. Cancer rates for men have fallen 18.4 percent since 1990 when deaths peaked, and cancer-related deaths for women have dropped 10.5 percent since peaking in 1991. Improved screening and treatments for the top killers mean you can live longer but you will need the money to buy the treatments.
After the kids are grown and your spouse is your 401k beneficiary, drop your term insurance. Take your insurance premium and create a Roth IRA or tax-advantaged mutual fund. Invested in low-cost average-market index funds, your $166 a month contributions will become $588,000 in 30 years. With a Roth IRA, that half a million is tax-FREE so you can afford the new drugs or treatments that will be invented in the next 30 years.
If you keep your old insurance policy, or buy that long-term care insurance your advisor talks about, you may not be able to afford those new treatments. You have read the forecasts for social security and Medicare! You are more likely to need the money for life than for your heirs. Give them $10,000 and let them invest it themselves. See our FREE Guide: theinsidersguides.com/freeguide.html
You would have to die or move to a nursing home to receive a benefit from that premium of $166 a month for 30 years. You don’t know what will happen in the future and neither do I.
If you need nursing home care, $588,000 will get you into one of the best. If you need the treatments to keep you alive and kicking, $588,000 will help with that INSTEAD. If America adopts free health care in time, you can use the $588,000 as a life insurance benefit. All the earnings are tax-FREE to your heirs, just like life insurance.
If you don’t need medical treatments or nursing home care, you could have a big party. $588,000 buys a whole florist for your funeral too.
If your don’t believe me, do the calculation yourself at http://www.moneychimp.com/calculator/compound_interest_calculator.htm
Members of our network consider self-insuring the risk of outliving your money. They buy Living Insurance: http://www.theinsidersguides.com/selins21.html.
I am worried about people paying for insurance they won't need.
Consider shifting your dollars to a Wealth Reserve based on the shift in risks. Cancer rates for men have fallen 18.4 percent since 1990 when deaths peaked, and cancer-related deaths for women have dropped 10.5 percent since peaking in 1991. Improved screening and treatments for the top killers mean you can live longer but you will need the money to buy the treatments.
After the kids are grown and your spouse is your 401k beneficiary, drop your term insurance. Take your insurance premium and create a Roth IRA or tax-advantaged mutual fund. Invested in low-cost average-market index funds, your $166 a month contributions will become $588,000 in 30 years. With a Roth IRA, that half a million is tax-FREE so you can afford the new drugs or treatments that will be invented in the next 30 years.
If you keep your old insurance policy, or buy that long-term care insurance your advisor talks about, you may not be able to afford those new treatments. You have read the forecasts for social security and Medicare! You are more likely to need the money for life than for your heirs. Give them $10,000 and let them invest it themselves. See our FREE Guide: theinsidersguides.com/freeguide.html
You would have to die or move to a nursing home to receive a benefit from that premium of $166 a month for 30 years. You don’t know what will happen in the future and neither do I.
If you need nursing home care, $588,000 will get you into one of the best. If you need the treatments to keep you alive and kicking, $588,000 will help with that INSTEAD. If America adopts free health care in time, you can use the $588,000 as a life insurance benefit. All the earnings are tax-FREE to your heirs, just like life insurance.
If you don’t need medical treatments or nursing home care, you could have a big party. $588,000 buys a whole florist for your funeral too.
If your don’t believe me, do the calculation yourself at http://www.moneychimp.com/calculator/compound_interest_calculator.htm
Members of our network consider self-insuring the risk of outliving your money. They buy Living Insurance: http://www.theinsidersguides.com/selins21.html.
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