We answer your tough questions ... like what, you ask?

Here are some questions that we've received recently.

QUESTION 1:

Q: I need some advice. Is life insurance a rip off?   Glen in NY

A: Life insurance sometimes gets a bad name because unscupulous agents have sold inappropriate products to people. That being said, it is a wonderful product when used corretly. The benefits and the relative low cost of term insurance make it very attractive for protecting your goals for a specific amount of time. Most of life insurance's bad name came as a result of permanent insurance, universal life or other more complex policies. They are great in many circumstances, but too expensive or inappropriate for others. Make sure you understand how these products work. Make sure you understand how the cash value is determined, surrender fees and how the other features work. They vary by policy type and company so if you compare, make sure it's an apples to apples comparison. Also understand that they may pay dividends, there may be investment choices, the guarantees may be different and know what riders are available. Make sure the illustrations they provide show a realistic rate of return. I had an agent show me (years ago) how much cash value I would have if I had a 10% return for 30 years. Not very realistic. Also make sure they show you an illustration at the minimum interest rate.

QUESTION 2:

Q: I have a question. I've been going out with the same guy for 4 years. We are involved in every part of each other's lives but he doesn't feel we are ready for the next step. How long is too long?  Waiting in PA

A: You have asked a question that many people feel in your situation and I'm not being coy by saying every situation is different.Sometimes people aren't ready because it's not prudent (too young, still in school, going away for a long period, etc.) and sometimes people are just not ready. This second group is "undecided" because they are not ready; it usually has nothing to do with you. I say usually because sometimes the answer is, the other person is unsure if you are suitable for them. They will be ready when they are mature or secure enough or when they decide if you are suitable for them. Can you wait for them to come to this moment? Only you know the answer to this question. But don't hang on if you know in your heart the painful truth. 

QUESTION 3: 

Q: I need some career advice. I work for an insurance company but I hate my job, I'm 24 and feel stuck. What should I do?.

A: Well you didn't give me much to work on so I will be general. You didn't tell me if you dislike the actual work, the work environment, the people or the fact that you feel you are not advancing quickly enough.  If you are just bored, ask your manager if you can take on additional responsibilites that interest you. Are you a good writer? see if you can start a company newsletter. Are you creative? perhaps you can suggest ways to make your office life more fun. Are you social? perhaps you can arrange a team that is a laison between management and staff. If it is a personal issue, confront the reson for your problem in a professional way, this almost always works out as any communication issues can be resolved. If you are not advancing quickly enough, look at yourself objectively. Are you really doing exceptional work? Can you do better? Talk to your manager and ask what you can do to be recognized. If it is the actual job, you should seek to change careers into something you would enjoy more.