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The Water Cooler
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Addtional Life Insurance???
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<blockquote data-quote="mhphoto" data-source="post: 1530404" data-attributes="member: 6288"><p>Don't let any fast talking "financial planner" (see: highly compensated insurance salesman) talk you into a variable permanent policy. They'll lure you in with promises of tax-free growth of the funds and tax-free income when you retire. What they don't tell you is that you can achieve the same with a Roth IRA, and by paying the same amount monthly into the IRA you'll come out way ahead because there's no insurance clause in the contract. </p><p></p><p>If you're looking for a policy as a "cherry on top" for your wife when you kick it, look into term. It'll be the most cost effective for you purpose. Just don't let the promise of that lump sum upon your death diminish the importance of proper retirement savings in your head.</p></blockquote><p></p>
[QUOTE="mhphoto, post: 1530404, member: 6288"] Don't let any fast talking "financial planner" (see: highly compensated insurance salesman) talk you into a variable permanent policy. They'll lure you in with promises of tax-free growth of the funds and tax-free income when you retire. What they don't tell you is that you can achieve the same with a Roth IRA, and by paying the same amount monthly into the IRA you'll come out way ahead because there's no insurance clause in the contract. If you're looking for a policy as a "cherry on top" for your wife when you kick it, look into term. It'll be the most cost effective for you purpose. Just don't let the promise of that lump sum upon your death diminish the importance of proper retirement savings in your head. [/QUOTE]
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