Submitted by Reasonable_Shift_569 t3_1240sr3 in personalfinance
August 2022 I was convinced to open a whole life insurance policy from a financial advisor at $400 a month with a death benefit of $350k
I’ve been seeing more and more how this is mostly a scam and that it’s not really an investment strategy long term
I’m feeling kind of gross about this and think my money would be better elsewhere
My only other investing account is a non qualified brokerage (also recommended by the same advisor).
So far I’ve put in about $3,200 and if I were to cash out I’d only get $320…
Was thinking about opening a Roth IRA instead?