| I am a single female, no dependents and recently have been consulting a financial advisor. He is pushing me?

I am a single female, no dependents and recently have been consulting a financial advisor. He is pushing me?

jennifer asked:


to purchase life insurance for investment reasons and retirement planning. Is this a good idea?

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Comments

6 Responses to “I am a single female, no dependents and recently have been consulting a financial advisor. He is pushing me?”

  1. Name is Nick on April 11th, 2009 8:10 am

    Is he pushing a variable annuity on you? If so then pay attention to fees. Variable annuities are nice in that they invest in your money in the market and allow you to participate in the gains of the market but often charge very high fees making them not great investments. As far as life insurance, I am not sure.

  2. Grand pa on April 14th, 2009 4:04 pm

    buyer beware remember he is in it to make money and he knows you .. take a break

  3. Laiping on April 15th, 2009 11:07 am

    Stay away from the so called ‘financial advisor’ who is pushy. There are definitely better ideas than insurance for retirement investments. Check this guy’s credentials. Make sure he is a Certified Financial Planner. He has no right to push you. Run away. Quick. Do not even have another conversation with him. He is obviously trying to benefit himself, not you.

  4. Judy on April 19th, 2009 1:07 am

    Find another advisor. Sounds like he’s probably looking out for his own financial interests more than yours.

  5. luckyzimmy on April 25th, 2009 9:16 am

    All prior answers have shown the responders personal bias about the whole notion of insurance.

    If you have no need for the life insurance, you can still justify including a small amount in order to make the funds accumulate on a tax sheltered basis, and allow for future tax free withdrawal. Without knowing more about your situation, I can only say that you can move on from the pushy salesman, and keep on with your information quest.

    It is possible for you to include mutual fund type investments in the insurance account, if you like, and enjoy tax benefits similar to a Roth IRA.

    I have a website for you that promotes a book I have written to assist people in your situation. It is

    I have been told that it is ‘amazingly easy reading’. I am happy to further assist you if you need help.

  6. debtdestroyer1976 on April 26th, 2009 8:34 am

    the best thing to do is get information on this. read magazine articles on different companies, or listen to ….the dave ramsay show look him up on the internet. ask him a question. a life insurance salesman is not a very good financial advisor at all. he sells trash value life so he can make money off the premiums you are paying. so be careful. find a primerica rep., in your state, who holds a securities lisence, and let him or her show you the best way to do what YOU WANT. you will get an honest and straight answer.