I have a 401k/ Not married, no children, but my advisor says it is wise to invest in a variable universal life policy while I am young (the premiums are lower) so it builds cash value to aid in retirement plus I will have the death benefit for later on when I am married and have kids. Susie Orman thinks this is a bad idea and that 401ks and Roth IRAs are the way to go. Other people think differently. I am confused on what to do and wonder if people who have actually signed up for a Variable Universal Life policy have actually seen the cash value results when they have retired. My illustration shows about $600,000 cash value when I am 70- that is with a 12% return. I am wondering if I should go with this policy or use the $200/month it would cost to fund this and invest it in a Roth IRA instead or put more towards my 401k. Any serious advice would help!
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