/profile/3-jameschi/?do=hovercard” data-mentionid=”3″ href=”<___base_url___>/profile/3-jameschi/” rel=””>>@JamesChi The plans have a “lock-up” period – this is money that you can not take out until the term expiration (let me guess, the advisor is saying 25 years is best for you?!). This money will be subjected to a fee throughout the 25 years, and this is how the fund company pays the up-front commission to the advisor.
These plans are extremely expensive, 95% of the “advisors” have sold cars as a previous job, and if they claim to be tax-free you are being lied to. Save yourself 7% a year and buy a couple of indexed ETF’s and call it a day.
