Sure, but there are always tradeoffs and plenty of assets to invest in before you turn to whole life in my mind! The White Coat Investor has a great article about whole life insurance that is pretty thorough and worth the read.
Most experts I've talked to and analysis I've read say that whole life insurance is usually not the right answer - and it's really not a matter of budget. Your money could just be more efficiently and easily invested in a regular old brokerage account. Whole life is way over sold because it is so lucrative to the person and company selling it. Interested as to what value you personally see in the policy's cash value over investing the money outside of an insurance product?
Hi Taylor - I don’t look at an insurance policy over any investments, I look at it as an additional asset. A life insurance policy combined with other investments is an option for someone who can fit it into their budget as everyone’s investment strategy is different.
Nice
Thanks Jacob
Great info. I opted for a whole life policy. It’s a bit pricey but the long term protection makes sense. Wouldn’t mind term and investing the rest
Smart man!
Sure, but there are always tradeoffs and plenty of assets to invest in before you turn to whole life in my mind! The White Coat Investor has a great article about whole life insurance that is pretty thorough and worth the read.
https://www.whitecoatinvestor.com/what-you-need-to-know-about-whole-life-insurance/
It’s not before or after, it’s an addition at anytime. Depends on the mind when it happens.
I couldn’t get past the 2021 date on the article. Money concepts change too often. Any up to date article would be great.
Most experts I've talked to and analysis I've read say that whole life insurance is usually not the right answer - and it's really not a matter of budget. Your money could just be more efficiently and easily invested in a regular old brokerage account. Whole life is way over sold because it is so lucrative to the person and company selling it. Interested as to what value you personally see in the policy's cash value over investing the money outside of an insurance product?
Hi Taylor - I don’t look at an insurance policy over any investments, I look at it as an additional asset. A life insurance policy combined with other investments is an option for someone who can fit it into their budget as everyone’s investment strategy is different.