At the age of 19, I’ve considered purchasing a whole life insurance policy. I want to know where to acquire one, if it’s worth it, and any helpful hints. I sincerely appreciate any recommendations or guidance, and I thank you in advance. My goal is to accumulate riches and reach my $100,000 as quickly as possible!
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Do not get whole life insurance, and stop listening to anyone who tells you positive things about it when it comes to financial advice. Just in case you need to hear it again.
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For the average person, whole life insurance offers no meaningful benefits. It is frequently promoted as an investment vehicle and is far more costly than term life insurance, but it is also a worse investment than you might make on your own by simply investing in the S&P 500.
If you are 19 years old and looking to boost your net worth, think about learning skills that will enable you to trade your time for a greater wage.
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