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Originally Posted by Cynthetiq
that's the part that I'm trying to understand. It's choosing yet another vehicle to save. Its hard to remember that when all the negative press you hear about but you don't need "whole life blah blah blah..."
I don't, but when all is said and done, I'm putting things into different baskets, and well to keep it as diverse I have to find new baskets.
Thanks for laying that out.
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This is a bit off-topic, but close enough to what this has developed into that I think it's worth sharing.
If you are young and already planning for retirement (and good for you if you are), then you should spread your money around. You should consider the following and see if they make sense for your plans.
401k
Mutual funds (there's one specific type who's name escapes me but you need to earn under a certain amount to qualify for it. I wasn't smart enough at the time to put money there.)
Whole life insurance (you can cash this out while you're still alive)
Bonds
Stocks
There are costs and benefits to all of these, and not all of them are necessarily sound investments. And this is just my opinion on how I invest my own money.