Whole Life, yes another thread!
So I've been researching a lot life insurance as a "sound" investment vehicle since my financial advisor has been pushing it on me. A TON of posts here on Redit claim it is a horrible idea, and only being pushed because of big commissions paid to advisors and such. One thing each of these posts seems to have in common is younger people using it as a true investment rather than a tax advantage vehicle down the road.
I'm turning 40, have a (according to my advisor) decently large investment portfolio for my age, plus real estate investments, and 2 businesses (C-Corp sales and distribution business and real estate/rental LLC's (each property points to a sole member holdings LLC )). My advisor is recommending whole life not so much as an investment, but as a tax sheltered vehicle to move assets on later in life. Plus the added "benefit" of loans against the policy for additional real estate purchases or whatnot.
On paper, the theoretical numbers look compelling, but my CPA and my advisor are in a slight disagreement on the life insurance side. My CPA isn't totally against it, and understands why they are pushing for it, but also isn't totally sold on how beneficial it really will be down the road. I trust both my advisor and my CPA, so I'm conflicted, and trying to soak up as much knowledge as I can.
submitted by /u/Competitive-Top-3420
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