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Originally Posted by TinyEvel
Tossing around the option of a whole life policy as supplemental savings. I know that most people say buy term and invest the difference but the Long term care rider and tax avoidance when withdrawing later in life is appealing. Im 50 years old. and after 17 years the thing pays the premiums from the dividend, you stop paying into it, still get the 500K death benefit plus cash value at that point is around 290K.
This would be a supplement to a 401 K that I've built up over the past 25 years.
Thoughts?
Add this or keep contributing to 401K (some balanced funds and bonds as well as international stocks) and a online trading accounts (US stocks mostly tech and younger companies). but then be vulnerable to market shifts and taxes down the road.
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Just do your research on the company. I have a term policy through Genworth which was a highly rated company. They got butt****ed by their LTC policies and don’t do shit with life anymore and all the features that would be nice are out the window.
Typically you can do better in mutual funds but it’s not a terrible tool.