Posted By: tr22johnson
Whole Life as Long Term Investment Pro/Con's - 05/02/22 03:28 PM
I'm looking to diversify my portfolio mainly on long term. My financial advisor's/planner's are recommending setting up and contributing to a Whole Life Policy. Looking to see if anyone has personal experiences doing so. Here's a quick backdrop without giving too much information
43 years old-all tax deferred retirement is maxed out annually with most if not all 401K contributions being kicked back to me because of ESOP pushing to and exceeding the cap. I still continue to contribute to 401K however because company matched $0.50 on the $1.00 upto 5%.
On paper with dividends-a whole life policy looks to be a solid long term but would have to remain untouched for 15-20years....Looking for ways to re-invest my kickbacks out of the 401K.
43 years old-all tax deferred retirement is maxed out annually with most if not all 401K contributions being kicked back to me because of ESOP pushing to and exceeding the cap. I still continue to contribute to 401K however because company matched $0.50 on the $1.00 upto 5%.
On paper with dividends-a whole life policy looks to be a solid long term but would have to remain untouched for 15-20years....Looking for ways to re-invest my kickbacks out of the 401K.