I am 27 years old making 48,000 a year. I’m a teacher, not married, and I don’t have kids. I have a 403b and just started a Roth IRA(which I’m basically putting pocket change into). My friend works for Transamerica and wants to help me save more for retirement. Through him, I applied for a “Transamerica Financial Foundation IUL flexible premium adjustable life insurance with index account options” policy. He explained how I can use this insurance policy as a retirement fund. What I especially liked, was that I can take out some of the money earlier, like if I wanted to put a down payment on a house. Now that I’m looking over the paperwork, I’m getting cold feet about this. Is it worth it getting this insurance policy? It’ll feel really awkward telling my friend that I don’t want to go through with it anymore, especially since I already put down $200 (what my monthly payment would be) for my insurance application.
Thanks for all the help!
Submitted December 29, 2020 at 08:39PM by Rude_Intention7398 https://ift.tt/38My1NO
