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PAvibes t1_iyenuw1 wrote

Reply to comment by grinch1225 in 403b question for a new job by [deleted]

Thank you for explaining that just my whole life is a red flag. Can I ask how much you put in monthly with one for your variable universal life policies? The financial advisor was recommending I put in 700 dollars a month into a whole life which seemed absolutely insane. When I did the math by the time I reach retirement age it showed crappy returns as you stated.

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grinch1225 t1_iyeohod wrote

It totally depends, as each client is subjective and requires a suitability assessment, I cant legally give a recommendation without it

I can say that the 3 I’m referring to are contributed as follows

$1000/mo, $1200/mo, and my largest is $4000/mo

In retirement (most of them want to be done by 50, 1 at 55) they’ll be able to pull between $209k per year, tax free on the $1000/mo investment, while the top end will net him closer to $500k per year tax free.

The rate of return for the calculations was 7.34% after fees and expenditures if I remember off the top of my head, but I cant guarantee that one. Could be 7.44%

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