Hello!
I've been a long time follower of this site and have gained priceless information in the past that was paramount in helping myself get set up for retirement. Currently I am finding myself needing some advice!
-Currently I am 30, single, no children, employed as an MD and am maxing out my 401k and IRA contributions. I have no debt outside of my home mortgage. With that being said I'm looking to set up a 3rd source for retirement. Currently my financial adviser is suggesting I set up a permanent life insurance policy with which the contributions would be at 1800 monthly for 35 years. His projections based on earning of 7 .1 percent is showing my break even point at approx 20 years --- Then at age 65 till 90 I would theoretically be able to collect approx 150k yearly. All of which would be tax free at that point.
My real questions or concerns here are there alternatives of where I should allocating approx $1800 of my after tax money? Annuities, Municipalities, bonds? Any help or advice would be greatly appreciated. I also have disability coverage at this time in case I am unable to work.
Thanks!
I've been a long time follower of this site and have gained priceless information in the past that was paramount in helping myself get set up for retirement. Currently I am finding myself needing some advice!
-Currently I am 30, single, no children, employed as an MD and am maxing out my 401k and IRA contributions. I have no debt outside of my home mortgage. With that being said I'm looking to set up a 3rd source for retirement. Currently my financial adviser is suggesting I set up a permanent life insurance policy with which the contributions would be at 1800 monthly for 35 years. His projections based on earning of 7 .1 percent is showing my break even point at approx 20 years --- Then at age 65 till 90 I would theoretically be able to collect approx 150k yearly. All of which would be tax free at that point.
My real questions or concerns here are there alternatives of where I should allocating approx $1800 of my after tax money? Annuities, Municipalities, bonds? Any help or advice would be greatly appreciated. I also have disability coverage at this time in case I am unable to work.
Thanks!