I’m 27 years old and married. A CFP from Northwestern Mutual is reaching out trying sign me up for a whole life insurance, supplemental disability, and obviously some mutual funds. I have PwC’s 10x salary supplemental life insurance and I hear that whole life is a scam so not sure if I need more. Don’t think I need more disability insurance but my spouse may need it. I have 115k in investments spread across diff vehicles. Do I need a CFP and should I sign up for mutual funds?

like
Posting as :
works at
You are currently posting as works at

If you’d like to fund the sales reps college kids with all the commission he makes off a whole life policy, then hear him out. Sure he will also be happy to put you in some annuities and sell you a timeshare as well.

Seem like you’re doing pretty well and following simple personal finance principals. They are not in business to make you rich. They are in business to make themselves rich. Stay the f away.

like

And most definitely not getting a mutual fund

I go with a straight term life insurance plan. It is very simple and I like simple.

like

You may want to consider that PwC’s life insurance is tied to your employment at PwC. What happens if you don’t work here anymore?

Not saying you should buy what this particular person is selling but it’s good to consider insurance independent of your employment.

like

Yeah. There’s a chance I may leave next year so who knows if the other place I go to will have that same benefit.

Do I really need additional life insurance outside of the 10x salary? That’s over $1M.

Pro tip- get your life insurance from the AICPA.

like

Another point was to invest the money into a mutual fund instead of paying off our student loans (approximately 50K). I feel like it’s better for me to pay those off now instead of throwing in a fund that potentially could lose me money in next year with the volatile market and looming election.

You definitely don’t want that CFP. Your instincts are spot on. A positive rate arbitrage is not likely, particularly with significant capital risk. Student loan interest rate 5%, mutual fund income needs to be more than that after tax.

Maybe look into term life insurance it’s cheap and won’t be tied to your employer.

If you are an AICPA member I’ve yet to find someone who doesn’t think their term life is a good deal. Rates are low plus a 50 % annual refund each year. Check it out.

If you need more life insurance (or after you leave PWC), going through AICPA is usually the most cost effective and best option.

Related Posts

Has anyone left healthcare and is now really happy? I’m an MSN, RN with 12 years hospital experience. I’m burned out and tired of making crap pay. I have an opportunity outside of healthcare that would pay more and challenge me in new ways that I haven’t experienced before. It’s a total shift that would really heal my work-life balance, job satisfaction and budget. My only fear is that I would not be using the license and degree that I worked so hard for. I would appreciate any input!!!!

likehelpfulsmartupliftingfunny

Hi guys Does BofA provide education leave?

like

My wife is around 3 months pregnant. Doctor has recommended Irospan. And my insurance says they don’t cover it. And it is coming aroun 695$ without insurance, I found good Rx coupon which comes around 200$. Does anyone have better suggestions to check for coupons? And is iron deficiency common during pregnancy? Any valuable suggestions are welcome. Thanks

What will be take home salary per month at Deloitte after removing taxes for below CTC?

28 lpa fixed
32.7 lpa including variable


Also, what are the other real benefits at Deloitte?

Maybe unpopular opinion, but Team Black shouldn’t have been living outside of kings landing if they wanted an easy succession. Feel like there’s an argument from the greens that they’d been handling things for years while viserys was sick and rhaneyra and daemon were elsewhere…

Seems presumptuous on R’s part that “stale oaths” and folks she was clearly hostile with would cede power to her just over a birthright.

like

Hi. Wondering if anyone can provide some insight on salaries for Underwriting Assistants and Underwriting Technicians in the insurance industry?

like

Hello,
I graduated in June with a dual BSBA in healthcare management and human resources management/organizational management and two associates degrees in business and arts. I have twelve years of experience as a certified clinical medical assistant.

I'm having trouble finding my first job as a healthcare manager. After submitting many applications and receiving so many rejection emails, I've become frustrated. Any advice anyone can give is greatly appreciated.

like

Registered Client service associate with almost 15 years experience. My plan is to move to the Tri-Cities area in Tennessee. I’m looking for a position, but there aren’t many there. Any suggestions? I have the seven, 63, 66, and the insurance licenses.

Thoughts about Georgetown? Looking to buy and wondering what the current and future outlooks are in terms of growth

like

I currently work as an APM at a FAANG company but recently received an offer to join an MBB. I’m very excited about the role but didn’t realize I’d need to take a pay cut when I applied (~100k base + ~20k bonus + ~60k equity vs. 90k base + 10-20k bonus). Considering that I currently work 40-60 hours/week, I’ll be making significantly less per hour at the MBB. I’m very interested in the opportunity but also don’t want to make a poor financial decision early in my career. Thank you for your time!

like

What’s the best real estate shop in Dallas? Not including Winstead or Jackson Walker.

like

Does anyone know if there's a big salary difference between integrated producers versus creative producers? If creative producers are even a thing generally?
In Canada if that helps things.

like
like

EY fishes. What’s the top of the band salary for an incoming Senior-3 in HCOL city at EY in the Data & Analytics practice?

like

Can we show rent paying to parents if we are living with them.. Do company mandates that parents should be living in different city to qualify for such HRA exemption.

likehelpful

BCG fishes: If you make a temporary transfer to another office for 12-24 months, will your salary (& taxes) come from the home office or the office that you transferred to?

likehelpful
like

Hello everyone,

I love in Europe and was wondering how difficult or easy getting remote front end position in a US company would be and if the salary would be the same as a US citizen who lives in the US?

like

Hi fishes ,
I work with pwc ac banglore.
Will I need to pay back the joining bonus amount if i leave exactly after one year including 2 months of notice period.
Doj: 5 oct 21
Expect last working day: 5 oct 22
Expected Date of resignation: 4 aug 22

like

More Posts

Really excited for this sweetie to be coming home with us tomorrow. She’s an awesome 4 month old rescue mystery mutt and my other dog has been really lonely since his sister passed away.

Post Photo
like

It’s been six weeks since he broke up with me and I feel like I’m still in shock. Like I’m in a nightmare I can’t wake up from. I just can’t believe he left me when he always said he never would.

like

She loves blankets doesn’t care it is 90 plus she will burrow. At night she is under the covers on my leg breathing heavy lol

Post Photo
likefunny

Anyone work for Microsoft as a Chief of Staff? Wanted to get a sense of Comp and Work-life balance. Thanks!

like
like
like

Hey y’all! What state are you from?

Hey guys!

Can anyone give me ideas for remote jobs that can be done at my own time?

I work 9-5 and i would love to work a remote job during nights and weekends...

like

Any US expats here care to weigh in on whether it makes sense to contribute to workplace pension plans if the plan is to be in UK <5 years?

Folks at Deloitte India.
How were ur yearly hikes, last year??
Deloitte India

like

This will be my first time for increment cycle in IBM india. May I know how much I should be expecting or consider as a good numbers in hike of my salary?

Years of exp: 8+
Band: 7B
Fixed salary is 16 lpa

like
like

Does ibm GBS send hacker rank test for recent candidates(java)?I joined 2 years back at that time there was no test at that time.Any one has an idea?

like

Hi , I have joined IBM 20 days back, got rejected in two client interviews till now ,the interview was full deeper . From last 1 week there is no update from anyone. Worried about the future. Had another offer from cognizant which I got before Joining IBM but it has 30% less CTC and the joining date is 26 dec

Any idea what is the best decision to take. Can I stay here on bench for long time
Tech stack - spark,Scala,Hadoop,hive

like

Had my final round last week at McK and still haven’t heard back. Resisting the urge to ping the recruiter until at least next week.
As an aside, I sent thank-you notes to all of the interviewers but didn’t hear back. None bounced back so I’m hopeful that I got the email convention right. Send me good vibes!

like

Question of the day:

How are you guys doing today and what content would you like to see in this bowl?

Anyone at MBB looking to make a referral?

funnylike

Our superpower is expensing meals

Post Photo
likefunny

Anyone from NYC? What’s a good restaurant here? None of the restaurants look good to me

likefunny

I want to get my husband a Theragun for Christmas. He is active and plays basketball a couple of times a week and always complains of soreness. My question is which model is the best? Elite, Prime, or Mini?

like

Additional Posts in Accounting

I think that there is a lot of talk about where Amazon will put their second HQ, I think that whichever state and city give them the best incentive package will suddenly be where the best talent is...

like

I often wonder why I did accounting because the services I provide to my clients mean nothing to them. At the wake of my friend's dad tonight, he asked for my help during dealing with his family

like

Does anyone have any good books or podcasts about how to develop leadership/ managing skills?

like

Hey KPMG how is life in the FRM advisory? Got a job offer from them

like

I’ve been in Risk for a year now and would like to transfers to BAP (business advisory) how would you recommend going about this ? What steps can I take to ensure I get transferred? Cont

like

When the lights turn off on you at the client because you haven't moved in a while has to be one of the most depressing things ever.

like

Ever since Risk Assurance busy season ended, I feel like I’ve been kind of coasting. I’m still getting all my work done but my utilization is slipping. With CRTs coming up, how worried should I be?

like

I’ve been in public accounting for about 6 years and I feel like I need a certification. The CPA is not happening. What would be the most valuable CIA , CFE , CMA of CISA?

like

I love reading fishbowl during my bathroom breaks. Keeps me sane during busy season.

like

So excited to be putting in my notice next week!

like

PwC Townhall - too long didn't watch, what's the cliff notes ?

like

Would PwC reimburse me if I study for my CFE and it is not required for my current job?

like

Raises are between 7 and 15%. For just about everyone at every level at every company, depending on performance of you and your service line. You can all shut the hell up now.

like

Is the percentage raise bigger from L3 to L4 or L5 to L6?

like

Thinking joining Deloitte New Jersey office… any thoughts/reviews from anyone that works there on culture/people/workload/etc?? Deloitte

like

Advice for someone having to audit in an arm sling the next three weeks?

like

Where are the Booz Allen people at?

like

Currently in IT audit, want to get into consulting. Worth it to wait until senior? Biased since I want to get out, but I feel the skills aren’t transferable and don’t want to be pigeonholed into risk

helpfullike

What are raise amounts or percentages per year?

like

What's the budget range for partner(as a percentage to associate hours)for a tax provision engagement, in general?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal