Roth IRA

[cmdrost]

life insurance is a whole nother investment animal in and of itself with too many variables to consider, the main one being age.

Personally, I think you're better off managing your money yourself in a 401k and IRA then buying term life insurance for basic coverage.

[PUREBAY2200]

Originally Posted by cmdrost

life insurance is a whole nother investment animal in and of itself with too many variables to consider, the main one being age.

Personally, I think you're better off managing your money yourself in a 401k and IRA then buying term life insurance for basic coverage.

it is basically impossibe to attain coverage -by investing in a 401k or IRA- equal to purchasing term life insurance.

retirement planning is very important, im not saying dont invest.

a 401k or IRA is not inteded to act as life insurance. it takes time to create large amount of money in a retiremnt plan.

term life insurance creates a large amont of money for a small cost.

term life insurance is extremely affordable. premimums ary depending on age and health.


whole life has cash value which can be used during retirement for additional income, all of the cash value is tax free.
also depending on the company whole life insurance can become paid up at some point in time, meaning premeimums can be paid with dividends and the money in the cash value.

both retirement planning and life insurance are essential when creating a financial plan that meets the needs and goals for individuals.

[txjoker]

I said whole life, not term life. Although they are both insurance, their purpose is a bit different I think. The whole life policies can be used as a supplemental. It can be withdrawn at any time without penalty. And, you do not have to die to collect.

Originally Posted by cmdrost

life insurance is a whole nother investment animal in and of itself with too many variables to consider, the main one being age.

Personally, I think you're better off managing your money yourself in a 401k and IRA then buying term life insurance for basic coverage.

[PUREBAY2200]

Originally Posted by txjoker

I said whole life, not term life. Although they are both insurance, their purpose is a bit different I think. The whole life policies can be used as a supplemental. It can be withdrawn at any time without penalty. And, you do not have to die to collect.

yep, whole life has what i call a "living benefit". the longer u live the more your policy face amount is worth as well as the cash value.