Well, what can I say. We’ve been delinquent delivering you amazing content. That doesn’t necessarily end with this episode, but hey, we’re back in the garage, swilling a few beers and trying to find our way in an uncertain world. Thanks to Jolie at Well Bean Coaching for buying us the round. And special thanks for being voted the best podcast of 2023 by the J Bones’ Dive Bar!!! HUGE WIN!!!! Check out that sweet trophy! It’s AMAZING!!
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Beers – Poolside Blonde
Graciously bought by Jolie from Well Bean Coaching
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For what it’s worth, I would be interested to hear your thoughts on Whole Life?
Hi Susan, Thanks for listening and commenting. Whole life is a delicate subject. I am no expert, but in my opinion investments and insurance shouldn’t be mixed. I’m also of the opinion that young people don’t need insurance, until they do. When the have a spouse, house, kids etc. Usually term is the right decision for them. However, there is a place for Whole life insurance if it is started young enough and the mandatory payments will end in a reasonable number of years. It also needs to be structured appropriately so that the investment component will eventually pay for the policy and that the holder can use that equity tax free as a form of banking. I think Whole life probably makes the most sense for people that have generational wealth or high net worth and will need the tax optimization later in life. But for the average person, I think they’re better off investing early and buying term as required. Eventually with the goal of being self insured.
Question for you: I didn’t realize being a Certified Retirement Coach was a thing. I see you have the logo on your website and I did a little digging. I’d like to learn more about it. I think the non-financial part of retirement is so important, and often not thought of until it’s a problem. Let me know if you’re interested in being on the show, or just having a zoom call.
Cheers,
MM