Maybe it's because these type of questions
I have no need for more tax deferment this year but would still like to contribute to my retirement. Should I still just put the money in my sep ira or is there a better option?
I'm basically asking if there are other types of accounts that have tax advantages besides tax deferment. Maybe a roth 401k.
i have met with professionals in the past and every single one tried to sell me an expensive whole life policy
would mostly bring you these types of professional
potentially. but when the only paperwork they bring to a first meeting is WL policy quotes, i become skeptical.
I could go at length as to the features, advantages and disadvantages of many different types of accounts and plans, and bore you and everyone else to death, with nothing being accomplished for you in the direction you want to go.
But the right thing to do is meet with a professional, disclose facts and feelings (yes, feelings, as many things are highly subjective) and then have the professional guide you based on what's important for you in your situation.
Here is one reason why professionals might be bringing WL quotes to you:
The regulatory environment has made investing client money a money-losing proposition unless you're talking big bucks. Yes, there's a relationship to be built, and hopefully, the assets under management will grow (along with the regulatory liability attached to them) to a point where one can actually make a living off investment accounts. On the other hand Life Insurance still pays a decent compensation, and while still subject to regulation and oversight, is generally a safer and more predictable product, and has unique features that no other product/plan has.
All of that being said, I don't think a professional should come prepared with "solutions" to a first meeting, before probing for facts and feelings.
Also, are said meetings being held at your place or at the professional's place?