sonnyfab
sonnyfab t1_iufw293 wrote
Reply to comment by ShimonaLisa in Credit building loophole. by [deleted]
I find it unlikely that you can make as many deposits as you want and get CC rewards with 0 fees. But whatever. Good luck.
sonnyfab t1_iufvm6h wrote
Reply to comment by ShimonaLisa in Credit building loophole. by [deleted]
They might have payment fees for CC purchases
sonnyfab t1_iuesnic wrote
Reply to comment by Reasonable-Program29 in Parents in IUL will it hurt them by Reasonable-Program29
>it won't necessarily hurt them
They'll be dead. It's you who is being hurt by the insurance company taking your inherence.
sonnyfab t1_iueoovz wrote
Reply to comment by Reasonable-Program29 in Parents in IUL will it hurt them by Reasonable-Program29
If the just invest 5k per year for 14 years into VTI, they're going to leave you and your siblings a lot more than 200k if they live into their late 70s or later.
That's the whole point.
The only way you and your siblings end up ahead with this life insurance scheme is if they die very soon, in which case term insurance would pay a lot more anyway.
Term life + index fund investment is a better way to leave a legacy than IUL.
sonnyfab t1_iuekwzt wrote
Reply to comment by Reasonable-Program29 in Parents in IUL will it hurt them by Reasonable-Program29
>What do older people do when they don't have the most money but still want to guarantee there is something for their children after death?
People who die destitute typically do not leave a legacy to their children. People who make wide financial decisions and do not die destitute and pass on their wealth to their children.
>They believe that with Term Life insurance it isn't guaranteed they'll pass before the policy expires.
Correct. The purpose of life insurance is to provide a replacement for your income if you pass while people still depend on your income.
sonnyfab t1_iue70g9 wrote
Reply to Parents in IUL will it hurt them by Reasonable-Program29
>I want to know if this will hurt my parents
It will just cost them money on a bad product.
>any downsides to life insurance until death
It's very expensive and also unnecessary.
>but they won't lose money
If you don't consider the $5k per year for 14 years in premiums "losing money" then unless the insurance company defaults, they won't lose money.
sonnyfab t1_iugavev wrote
Reply to Car financing… tier 1 credit but finance guy says I don’t have enough credit lines?? by Happy2helpnlearn
>by the finance guy at this dealership
He's probably lying to you.
>he was supposed to call me yesterday
So you've verified he's a liar already.
>he’s working on the #s.
Or he's just lying to you about working any numbers.
>He tells me 8 something.
Did you get a firm number or just this BS?
>I call BS on him
How much evidence do you need that he's a liar?
>He says it doesn’t matter,
Right, because he doesn't care about your credit score because he's a liar selling you a shitty loan.
I stopped reading. I'm sure the rest of your post made it clear you knew he was a lair and you completely ignored him and found some other institution, like a bank or credit union, to finance your purchase.