Today at work a salesman came in to try and sell insurance. we all work out of a municipal highway department. Most of us are between 25 and 33 that were attending his sales pitch. I have read a lot from this forum and from many other people to stay away from whole life insurance. I did not want to seem preachy to my co-workers, although I do feel somewhat of a responsibility to let them know there are two sides to this coin. Three of the seven of us seem to have bought his pitch.
The pitch was basically $100,000 plan for $116 a month. I explained that I had a $250,000 (+$20k for my son) 30 year term that was $40 a month and I was not interested. I told him that I prefer to keep my investments aside in a Roth IRA. Although he did not discredit my decision, he's certainly did try to reason why whole life would be wiser. Honestly, all I saw was a salesman from that point on.
Can anyone help me try to advise a few close co-workers the benefits of investing into a Roth IRA or separate investment account other than this whole life insurance? Thanks in advance.
Submitted April 10, 2019 at 07:20PM by AirVido http://bit.ly/2VAhox3
