acmcclellan
Confused about dryer sheets
- Joined
- May 10, 2004
- Messages
- 2
Hi! My name is Rachel and I am 26 years old. I am married and have 2 kids and hope to have many more. I know this may be impossible but I want to retire when I am 40 in hopes to be a full time mom.
I own a business and make much more than my husband. Between both our incomes, if we budget wisely, we can invest between $3000 - $4000 each month. When I hit age 40, I would like to drop this figure to $1000 per month.
Here's where I need advise. I need life insurance and have been told that a Variable Life insurance plan is the way to go for both an investment plan and life insurance. The biggest advantage I see to Variable Life Insurance is I can withdraw from it tax fee.
The other option is go with term insurance and invest the rest into a diversified portfolio. How would this effect me (taxes) if I want to start withdrawing when I am 40?
I would love to know real life people's opinions and not an agents/brokers.
Thanks in advance,
Rachel
I own a business and make much more than my husband. Between both our incomes, if we budget wisely, we can invest between $3000 - $4000 each month. When I hit age 40, I would like to drop this figure to $1000 per month.
Here's where I need advise. I need life insurance and have been told that a Variable Life insurance plan is the way to go for both an investment plan and life insurance. The biggest advantage I see to Variable Life Insurance is I can withdraw from it tax fee.
The other option is go with term insurance and invest the rest into a diversified portfolio. How would this effect me (taxes) if I want to start withdrawing when I am 40?
I would love to know real life people's opinions and not an agents/brokers.
Thanks in advance,
Rachel