021 Unless You’ve Become More Patriotic Recently

In this broadcast of the Financial Procast:

Jamie Dimon takes a 50% pay cut

Are actuaries turning on income annuities?

Calculating your assets under management is tough…apparently

But nothing is tougher than understanding life insurance

jamie_dimon


6 Responses to “021 Unless You’ve Become More Patriotic Recently”

  1. Jeff Hexter says:

    Again, I want to thank you guys for educating my while “shrinking the mysterity” of this topic. Even though I do not get all of the in jokes, I do get some of them, and the knowledge and joy you two clearly have with regard to these topics is infectious.

    Keep up the great work!

    I have a suggestion for a future podcast, or perhaps a recurring segment of your discssion: How about some suggested readings for use listeners who are not insurance professionals? Got any books that you’d suggest to us about insurance? Or, conversely, books to avoid? Actually, that might be even more interesting… Since the beginning of the year I have finished “Thinking, Fast and Slow” by Kahneman, “Antifragile” by Taleb, and am now reading “Tax-Free Retirement” by Kelly.

    • Brantley Whitley says:

      Hey Jeff,

      Honestly there haven’t been what I’d consider any “great” books written on the subject of insurance. It seems that those books presenting concepts that most excite people–Become Your Own Banker, Bank on Yourself, and Tax-free Retirement are all what I’d deem long form sales letters. While their not necessarily bad, they are mostly inadequate and not entirely accurate.

  2. Jeff Hexter says:

    Ah… Then using this blog or the podcast to explain the inaccuracy and inadequacy is probably a worthwhile idea.

    But books that shape proper thinking on these topics would benefit the readers/listeners.

    Thanks!

    • Brandon Roberts says:

      It’s out of print, but if you can find the Tired Tirade, it’s not a bad read. Also fair warning, it’s a little dated at this point.

  3. Jeff Hexter says:

    I’ve requested Tired Tirade by library loan. I finished Tax-Free Retirement this morning and I see what you mean about it(and others) as being long-form sales letters, and he does confuse the concepts of “savings” with “investing”. But it was a decent introduction, and it would encourage a conversation with an agent.

    I think there is a place for this sort of education-marketing. I guess I want to get more inside the head of agent, not to do their job, but to understand their thinking. I just don’t want to become an agent to get this knowledge. Catch-22?

    • Brandon Roberts says:

      Shouldn’t be a catch 22. Unfortunately many people discover that once inside the head of an agent you don’t have to worry about tripping over the clutter.

      We’re trying to shed more light on things and bring as much transparency to this whole industry as possible. But, of course, we’re only two people with a really big to-do list.

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