I worked for the broker dealer being discussed. I left after two years of selling clients that contractual mutual funds that charge 50% commission of the first year's deposit are good for you. These funds were discontinued years later, but the military officers who dollar cost averaged into them during the prolonged bull market from 1982 until 2000, reaped some benefit.
Whole life insurance, with no war clause, is cheap at a young officer's age, and if bought in high dollar benefit amount, is an excellent retirement cash value nest egg and estate planning tool.
The program suited career officers who did not want to develop their own financial plan. The military officer who founded this broker dealer thought he was doing the best for officers risking their life in the military and who had a guaranteed steady income.
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I worked for the broker dealer being discussed. I left after two years of selling clients that contractual mutual funds that charge 50% commission of the first year's deposit are good for you. These funds were discontinued years later, but the military officers who dollar cost averaged into them during the prolonged bull market from 1982 until 2000, reaped some benefit. Whole life insurance, with no war clause, is cheap at a young officer's age, and if bought in high dollar benefit amount, is an excellent retirement cash value nest egg and estate planning tool. The program suited career officers who did not want to develop their own financial plan. The military officer who founded this broker dealer thought he was doing the best for officers risking their life in the military and who had a guaranteed steady income.
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Link to comment from February 8, 2023