Buffett's best tip for personal finance
by david on Monday, August 1st, 2011 | 19 Comments
Stay out of debt and buy index funds
Overview of the difference between term and whole life insurance policies
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This man is very practical and brilliant. He advises getting debt free first because nobody, even him makes 18% on there money. He is also very patient considering the part when he says 20 to 30 years down the road. That is older then the majority of YouTube viewers.
Is anyone else observing Warren Buffet never answers a question straightforward? Something not right in this picture.
@anonymousQ45 So if you're not listening to advisors like him, and he is advising that you not listen to advisors like him, does that mean that you should listen to his advice?
hes telling you what to do then telling you 'not to listen to advisors like me' wtf
Put their ass in order? lol
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In response to your last point:
if I am not a savvy investor and I go willy nilly in mutual funds or the stock market, I could lose a lot of money too. Plus MF's charge loads and administrative fees like the cash portion of your whole life insurance policy so…are you REALLY saying that it's black and white and whole life is NEVER appropriate? I don't think you mean that. I hope you post a clarification to explain the situations in which Whole life is prudent.
i wont die so fuck it
@TheGstar1985 You didn't get the joke didn't ya?
@jonybrown
If you're in a position like Sal. Insurance is a no brainer. If something happens to him his family will severly struggle financially. If however he has insurance all debts including mortgage, funeral costs, credit cards, etc will be taken care of.
We have very similar products in Australia which have been discontinued since 1999 but the products my company offer "Bonuses" each year. Our Whole of Life polices expire at age 95 years of age.
People working for a company have an enhanced view of their company's product. In particular, this is even truer of the sales portion of the company and the executive staff (this is a generalization but mostly true). They understand its competitiveness in the marketplace, its features and benefits, and its advantages and disadvantages. You should investigate why almost every insurance salesperson owns life insurance (not term), more often its whole life or UL/VUL.
Life Insurance Policies is like Marriage,, You pay pay and pay and you'll never get anything back lol
LOL some people will randomly die
great one sal, cleared things up for me.
@scottyurfunnylol Just joking
@DehXable what do you mean and whats this video about i cba to watch it all
I asked my parents this question one day and big surprise.. I dont remember their answer or they failed to answer at all. But you sir have finally itched my curiosity! Now I dont need to fear life insurance :p
Geez Sal. Didn't even try to use the "pass away" euphemism.