How I Never lose money and have guarantees in retirement

I have a whole life policy .I have had nothing but positive results with it. Every time I open a statement I see again. Not like some of my friends who experienced losses. I had one friend say that his broker and financial advisor told him don't worry you're in it for the long haul. 

That was the beginning of the market crash in 2008. I ask him what his broker said. I can imagine you already know. Hang in there you're in it for the long haul. Of course he stayed in and we all know what happened in 2009. Here we are 4 years later and he has less than what he started with. I asked him now that he's at the age of 61 how many more 10 year periods does he have and how long is a long haul? Will he be 70? 80? 90? How old will he be no one has any idea I know I will be fine. I have guarantees and I will never lose money. Also when my time is up my children will be taken care of very well. In the meantime I haven't had to qualify for loans and pay a bunch of bank finance charges. Maybe others have enough money that they don't mind doing that. What I find very amusing is that people continue to do the same thing and expect different results. Isn't that the definition of insanity?

Although I don't expect it to make me a millionaire like a massive rare performing stock would, it has given me positive gains every year when others have lost everything they've had. I've also been able to access and will be be able to access my funds tax-free.

The bottom line is: I think that most people forget in other kinds of accounts their funds are taxable by the government and depending on what kind of account it may be there may even be a 10% penalty if it's withdrawn early not only that but most people don't realize they usually pay a 3% management fee from a broker. And that broker makes money whether you're there making money are losing money. It doesn't matter the broker still makes his money. When you look at a 3% management fee over a long period of time not only are you paying money on the amount you'll receive later your also paying the management fee on the taxes that you'll be paying. It doesn't seem like a good deal to me. These to me seem like a lot of unnecessary excess charges. Anytime I can keep the government out of my pants pocket I'm happy. I realize there will be a cost of insurance but I would rather pay a small cost of insurance then I would give it away in taxes. At least I'm getting a benefit for it. 

Best regards,
Fred O'Brien

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