Q&A: How Much Risk Should My Mom Take in Retirement?
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Rethinking Wealth Transfer Strategies
This chapter explores the use of whole life insurance as a vehicle for wealth transfer to children and critiques its viability compared to other investment options. The speakers argue that instead of whole life policies, parents should consider automatic savings options like 529 plans or investment accounts for better financial outcomes. They emphasize the importance of long-term investing and proactive financial planning for children's futures, cautioning against the costs and complexities associated with new life insurance policies.
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