Depending on your investing/risk style and situation - a policy might make sense. It is an option in the retirement wheelhouse. Have you worked on an actual financial plan that considers your goals, invest/risk style, for lifetime?
Retirement goals can fall apart when we do things that we are not truly on board with. You need to get an understanding of what this does for you and see if that is comfortable.
I would not fire the advisor due to this , I would encourage you to look at what they have provided in service and if they are addressing your invest/risk style. Maybe some more education on this suggestion is needed or perhaps if that product does not sit well with you maybe an alternative that feels better and accomplishes the same goal should be explored.
Mid_AM t1_iuf0fzi wrote
Reply to Do I need to find a new financial advisor? by massalk
Depending on your investing/risk style and situation - a policy might make sense. It is an option in the retirement wheelhouse. Have you worked on an actual financial plan that considers your goals, invest/risk style, for lifetime?
Retirement goals can fall apart when we do things that we are not truly on board with. You need to get an understanding of what this does for you and see if that is comfortable.
As for more discussion on this topic Look up info from wade pfau . I have his books but skip any whole life/life ins passages as I am at the end and cannot get them (maybe I can but would be high due to health dings). Here is something in forbes that makes me want to read the beginning of the series. https://www.forbes.com/sites/wadepfau/2021/03/04/adding-whole-life-insurance-cash-value-as-a-volatility-buffer-in-retirement/?sh=1a31a634bc1b Another blog I follow talks about it here - https://www.whitecoatinvestor.com/appropriate-uses-of-permanent-life-insurance/
I would not fire the advisor due to this , I would encourage you to look at what they have provided in service and if they are addressing your invest/risk style. Maybe some more education on this suggestion is needed or perhaps if that product does not sit well with you maybe an alternative that feels better and accomplishes the same goal should be explored.
Good luck!