I have term insurance
No doubt there is a "financial literacy" problem and sometimes the right choice for a person isn't the best option but rather the best option for their discipline, resources and skill level.
I am able to live within my means, save for a rainy day, use tax favored investment vehicles (401k, 529, IRA, etc.) and non tax favored investments.
For me, insurance and investments are 2 different things and the insurance that makes sense for me is term life for a certain portion of my life (kids at home, wife and outstanding mortgage, etc).
I don't agree that "buy term and invest the difference" is the worst advice as a blanket statement but it is only good advice for a limited audience.
Rob Yaggie
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