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I have already made up my mind way before I started reading The Random Walk Guide To Investing by Burton Malkiel. Yes, I (kinda) fired my Financial Advisor/Planner. Why? Because I found out the Whole-Life insurance policy that I bought in 2005 naïvely based on his recommendation actually allowed him to make at least ten times more in sales commission than if I bought a simple Term-Life insurance. His sales commission for Whole-Life insurance was nearly 100% of my annual premium. For Term-Life, his commission was no more than 20%. You see... no wonder he never offered me Term-Life.
For those of you who are not sure how to plan for your investment: just read the book I mentioned above. Your perspective of personal investment will be changed forever. Investing is not that complicated - it’s just often clouded by an air of complexity that makes it seem difficult for you and I to understand. No kidding!
For those of you who have adopted a Financial Planner's (a.k.a. Insurance Salesman) recommendation to buy Whole-Life policy: just get the surrender amount, bite the bullet, buy the simplest Term-Life insurance and invest your own money according to what Malkiel suggested.
PS: When you invest for retirement just remember this: "time is important, timing isn't."
"Fool me once, shame on you. Fool me twice, shame on me."