Just sat down with a NW Mutual financial planner... I think I am in decent financial shape and have goals, on track to meet them, etc etc. I use Vanguard for investing so super low fees. Have no kids. Is there EVER a reason I would use this guys (or others) services? He started talking about permanent life insurance which I assume is Whole life? Can't you just invest in your own Vanguard account and get better returns? Nice enough guy, but it comes down to the numbers and it doesn't seem to add up.

I have a rule,,,NEVER take financial advice from anyone that doesn`t have more money than I do,,,OP do your own homework and save the fees,,,no life insurance either,,,you`ll never get a chance to spend it

Whole life insurance policies are basically a scam.  You are much better off getting short term life insurance and investing the left over in the stock market.


I would tell this financial planner thanks but no thanks. Remember they make a living by selling you insurance and investments. Financial planners are for people who have ZERO clue what to do with their money or for people who wake up one day realize theyre 55 and were hoping to retired by 65. In a panic they go to a financial planner to get a crash course on handling money trying to get their finances back on track.

My wife and I went to see a financial planner because it was free through her company. We explained how we paid off our student loans, both cars and our home early, then gave him our net worth, income, saving/investing rates and discussed our short term, and longer terms. 10 minutes into our hour long meeting he just laughed and said we didn't need him as we were already doing everything he recommends to most clients.

Theres really only a few key principals you need to know to become wealthy.
1) Pay off debt
2) Stay out of debt
3) Keep 6 months of expenses in your checking account
4) Invest a minimum of 10% in a 401k (Max it out at $18,000 if you can)

I don't buy ins for investing. Might be a fit for some folks, just not me. Or an annuity. My mother has a financial advisor that my brother picked from several different t providers. He interviewed them in his office and went from there. She gets about 60k a year plus SS. My dad was a good investor. He's dead now, but he did a great job. Mom will never run out of money. Pick wisely. Good advice in this forum.

el oh el


I can write a book on all the shit I see.

Ask him how much he is going to make on the sale.

I wish I could help you, but I can't.

We could give him a call on the phone and talk trash to him.

When I bought my 30 year term policy, I asked my agent how much he makes off of it. He said he gets all of the premiums for the first year, and then 3% each month.