Deva Panambur

CFA®, CFP®
Personal Finance, Investing, Small Business
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“Deva Panambur, Managing Director with Sarsi, passionately seeks knowledge about his clients and their requirements so that he can help them achieve their goals and objectives.”
Firm:

Sarsi, LLC

Job Title:

Managing Director

Biography:

Deva Panambur, CFA®, CFP®  is the founder of Sarsi, LLC. Sarsi, LLC is an independent, fee only, Registered Investment Advisor, serving individuals and institutions. We primarily provide the following services: 1.Financial Planning: Overall financial situation of the client including cash flow, debt management, risk management/insurance, estate planning and tax planning. 2. Investment strategy 3. Asset allocation and risk management 4. Manager/Investment product selection 5. Investment monitoring and reporting.

Prior to founding Sarsi, LLC in 2010, Deva was a Senior Vice President/Partner at Executive Monetary Management (EMM), a wealth advisor with over $2Bn in assets that was a part of Neuberger Berman, before being spun off into an independent firm in 2009. At EMM, Deva led manager selection and due diligence and had joint responsibility for economic analysis, strategy analysis, portfolio management and risk management pertaining to investments of ultra high net worth clients and institutions.

Prior to joining EMM, he was a portfolio manager at the alternative strategies group of Merrill Lynch; a research analyst at Chesapeake Capital Corporation- a hedge fund; and a risk and business analyst at Deutsche Bank Asset Management where he supported various investment groups. He began his career at International Seaports Pte. Ltd. in international project finance in the Far East and the United States.

Deva earned a Bachelor of Technology from the Indian Institute of Technology, India, a Master in International Management from the Indian Institute of Foreign Trade, India, and an MBA from Thunderbird School of Global Management, Glendale, AZ. He has been awarded the Chartered Financial Analyst designation and is a CFP® professional.

He regularly provides expert advisory services to top consulting firms and asset management companies regarding the business and investment aspects of the investment industry. He is an Adjunct Professor of Personal Finance at Montclair State University in New Jersey and in his spare time trains candidates appearing for the  CFA exam.

Education:

MBA, Finance, Thunderbird (Arizona State University)
BTech, Metallurgy, Indian Institute of Technology

Fee Structure:

Fee only. Asset based and/or fixed.

CRD Number:

4632189

Disclaimer:

Sarsi LLC (“Sarsi”) is a Registered Investment Advisory Firm regulated by the State of New Jersey in accordance and compliance with applicable securities laws and regulations. Sarsi does not render or offer to render personalized investment advice through this newsletter. The information provided herein is for informational purposes only and does not constitute financial, investment or legal advice. Investment advice can only be rendered after delivery of the Firm’s disclosure statement (Form ADV Part II) and execution of an investment advisory agreement between the client and Sarsi.

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    Financial Planning, Estate Planning, Investing, Choosing an Advisor, Taxes
I'm 37 years old and paying $1,500 per month for a whole life insurance policy; is the high cost worth it for the low yield, or even promised long-term value?
100% of people found this answer helpful

If you have dependents, then having insurance is extremely important. Pure insurance (Term life) is the cheapest form of insurance and if you get it for an appropriate amount and appropriate duration, then it should take care of your requirements. Whole life insurance adds an investment product to the pure life, and you get the benefit of tax deferred (Not tax free- more on that later) investment option. Personally, I am not an advocate of whole life, but I do understand that there are some benefits, the biggest being that it forces you to save, although you can do that using retirement products such as a 401 (K).

To see it makes sense for you consider the following:

1. Based on your numbers, it seems your whole life insurance will give you about 4-5% rate of return over about 30 years. If you think you can do better than that then obviously it is not for you. 

2. Taxes: Have you maxed out your 401(K) to which you can contribute $18,500 or $24,500 over the age of 50? If you are self-employed, you can sock away up to $55,000 into retirement products such as a SEP IRA or a Solo 401 (K). These accounts give you the same tax deferred status as a whole life insurance (i.e. if you use it as an investment and not for your dependents- in the latter case there is not capital gains or income tax although there maybe estate taxes).

3. The dividends and cash value you receive from whole life are not taxed up to the amount or premiums you have paid. Anything over that is taxed as ordinary income. 

4. Estate planning: Lifetime estate tax exemption is $11.2 MM for the next 7 years and will revert back to 2017 level of $5.49MM adjusted for inflation. The amount is double for a married couple. Your estate does not have to be through a life insurance to derive this benefit- in fact insurance proceeds are included in the estate if owned by the deceased. The point being you don’t necessarily have to buy whole life insurance for estate planning.

5. If you take withdrawals from the whole life then the death benefit is reduced by that amount.

6. Liquidity: Fees in life insurance are usually front end loaded which means you will be penalized if you withdraw or surrender early- moreover, your cash value only accumulates to a meaningful amount over several years. If you need more liquidity then you may want use other options

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