I'd never buy whole life insurance and as I don't have any dependent so don't even bother with term life insurance. Also because I have no dependents I think it's a good plan to use some of my retirement money to buy SPIA type products to give guaranteed income as I'm not bothered about passing on the max to anyone. I've always planned to generate my retirement from a combination of pensions, rent, SS and an annuity so that I can leave the rest of my retirement money invested in equity index funds and basically not worry about the state if the markets.
“So we beat on, boats against the current, borne back ceaselessly into the past.”
Current AA: 75% Equity Funds / 15% Bonds / 5% Stable Value /2% Cash / 3% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent