Sadly, I hear this way too often and just this week I have heard it three times, clients being told by someone else that a Roth IRA is the answer, not a whole life policy. This happens often as a Roth has similar qualities of a whole life policy and it’s easier to believe in the Roth because it’s what we are conditioned to believe.

Let’s be clear, very early on here, life insurance is NOT an investment.

Those who have and understand whole life are defending the differences and it’s time to do this in an easy to understand blog. There is nothing complicated about it so I created the below chart to show the basic differences.

Roth VS whole life

There are technicalities of a Roth that need to be considered with some of these points and to do this I encourage you to visit the following links. One is: https://www.fidelity.com/viewpoints/retirement/nine-reasons-roth
Two: http://www.forbes.com/sites/ashleaebeling/2014/05/27/the-roth-ira-mistake/

Now you get to decide what you want to do with your money so educate yourself about these two things. Do not, during this education process, short suit yourself by taking one professionals word for it without talking to the other professional.

As usual, if you have questions or comments let me know.

Mary Jo

PS – if you want to leave nasty comments, don’t bother. Be civil.