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What not to do

 
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ogrecat



Joined: 06 Feb 2005
Posts: 146
Location: Ohio
PostPosted: Tue Jul 10, 2007 7:47 pm    Post subject: What not to do Reply with quote
http://money.cnn.com/2007/07/03/pf/expert/expert.moneymag/index.htm?postversion=2007070510

NEW YORK (Money) -- Question: I'm 25, make about $50,000 a year and invest $150 a month in an insurance policy for retirement. I do plan on contributing to my workplace retirement savings plan soon and also hope to open a Roth IRA, but in the meantime my adviser has suggested I increase my investment in the insurance policy to $300 a month. What do you think I should do?

Don't worry about that 401k or IRA.

I'm an insurance salesman & I'm here to help you.
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intercst
Site Admin


Joined: 09 Feb 2004
Posts: 674
PostPosted: Tue Jul 10, 2007 8:17 pm    Post subject: Re: What not to do Reply with quote
ogrecat wrote:
Quote:
http://money.cnn.com/2007/07/03/pf/expert/expert.moneymag/index.htm?postversion=2007070510

NEW YORK (Money) -- Question: I'm 25, make about $50,000 a year and invest $150 a month in an insurance policy for retirement. I do plan on contributing to my workplace retirement savings plan soon and also hope to open a Roth IRA, but in the meantime my adviser has suggested I increase my investment in the insurance policy to $300 a month. What do you think I should do?


Don't worry about that 401k or IRA.

I'm an insurance salesman & I'm here to help you.


At least CNN gave the guy a straight answer -- that the fees were too high and that this kind of thing only makes sense for a handful of people, if at all.

intercst
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