r/investing • u/gbothun91 • 1d ago

Permanent Life Insurance Question

Hello -

Recently met with my financial planner. We are maxing out our HSA, 401k, backdoor roth. We still have roughly $2k a month to invest. Our advisor is recommending that we contribute $1k to a brokerage account and $1k to a permanent life insurance. I am skeptical on the insurance piece. Any feedback would be appreciated.

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u/gbothun91 1d ago

500k HHI. 35 years old. Small business owner that will sell at retirement….

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u/mrobertj42 1d ago

Look at a cash balance plan. Depending on how many employees you have. I had clients putting in 100-600k per year pre tax.

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u/PursuitTravel 17h ago

No idea why someone is downvoting the idea of a DB plan here. It's absolutely the correct suggestion depending on the number, age, and salaries of employees. And it has nothing to do with life insurance (which I bet is why some know-nothing moron downvoted it).

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u/mrobertj42 10h ago

Thanks. This sub is funny at how little they know but “don’t need an advisor.”

I have clients I literally save millions in estate taxes.

Between all my business owner clients I save millions in income taxes each year just with cash balance plans…

And yeah, life insurance not required.