When planning for retirement, some consumers are considering whether to fund a Roth IRA or permanent life insurance.
Nicholas Ockenga weighed pros and cons of the two options. Considering how "they behave very differently," he shared that "consumer education is very important before committing to products like this." Every client has a unique situation, and there is no one-size-fits-all solution to saving for retirement. While some life insurance products are "often touted as the Swiss army knife of investing," Nicholas explains they may not be the ideal fit for the average wage earner.
"Permanent life insurance has many features, but combining them makes each less impactful than if it were part of a product designed specifically with that feature in mind."
Interested in learning more? Check out the full MoneyGeek article here.
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