krldrummerboy
Recycles dryer sheets
So, I have a old high school classmate that "friended" me on Facebook. He will often post the cryptic messages on days when the market moves south. Stuff like "are you protected?" and "do you need help creating new revenue streams in retirement?". In my head I answered "I don't know" and "gosh I'm not sure" to these questions. I IMd him and it turns out he is selling whole life and indexed universal life insurance through a multi-level marketing company called World Financial Group. He said something to the effect "now that I've made my fortune, I just want to help people". I told him thanks, but, no thanks, and grimaced through a short recruitment pitch to join his organization.
Aside from this particular company, I would like to hear some opinions on these types of policies.
Are they valuable to a working dual income family that has no term insurance but does carry?
51 yo, 44 yo spouse, two kids 5 and 7, ~170k combined salary, ~750k savings (401k, roth, cash) aside from home value. we max both 401k and back door Roths each year and still have some cash left to invest.
My worry is their complexity (mixing insurance and investing) and loads.
But, I like the idea of additional tax-deferred growth that can be drawn at 59 1/2, but also was really intrigued by the potential college funding benefits (he claimed they were much better than a 529).....
Aside from this particular company, I would like to hear some opinions on these types of policies.
Are they valuable to a working dual income family that has no term insurance but does carry?
51 yo, 44 yo spouse, two kids 5 and 7, ~170k combined salary, ~750k savings (401k, roth, cash) aside from home value. we max both 401k and back door Roths each year and still have some cash left to invest.
My worry is their complexity (mixing insurance and investing) and loads.
But, I like the idea of additional tax-deferred growth that can be drawn at 59 1/2, but also was really intrigued by the potential college funding benefits (he claimed they were much better than a 529).....