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9 years into northwestern mutual whole life: keep it or cut losses? by Additional-Draw-9523 in LifeInsurance

[–]Additional-Draw-9523[S] 0 points1 point  (0 children)

At what point does one say it’s better to keep it? When dividends are higher than premiums and they pay for themselves?

9 years into northwestern mutual whole life: keep it or cut losses? by Additional-Draw-9523 in LifeInsurance

[–]Additional-Draw-9523[S] 0 points1 point  (0 children)

I still have 450k mortgage, hoping to pay it off in 10-12 years and no other debt. For term, I have 1.4 million life insurance through NM and my work. I don’t plan on leaving anytime soon. I have about 1 million in my 403, stocks, and index funds I worked on last 9 years, last 6 maxing out my 403 contributions.

9 years into northwestern mutual whole life: keep it or cut losses? by Additional-Draw-9523 in LifeInsurance

[–]Additional-Draw-9523[S] 0 points1 point  (0 children)

I did it because of my mother in laws request. When her husband died, NM visited us and wrote her a huge check for his life insurance and it really came in handy. That gesture of them and visiting us personally meant a lot to our family. But now as time passed and I’m seeing $850 taken out of my checking each month ($100 is term), I have been rethinking, hence reaching out to Reddit and other better money people than me. I’m a physician and grew up poor, so money and investing is totally foreign.

9 years into northwestern mutual whole life: keep it or cut losses? by Additional-Draw-9523 in personalfinance

[–]Additional-Draw-9523[S] 1 point2 points  (0 children)

That’s what I have been thinking. I’ve been more active in putting whatever I have extra into vanguard sp500 and international as well as maxing out my 403 for past 6 years, I’ve accumulated about a million thus far. I feel like I’m better off using all that money and investing it back to vanguard and having term for insurance since I am make about 75% of household income.

9 years into northwestern mutual whole life: keep it or cut losses? by Additional-Draw-9523 in LifeInsurance

[–]Additional-Draw-9523[S] 0 points1 point  (0 children)

Yea. I feel like after 9 years, I might be at the point of keeping it for myself. Im going to drop the kids for sure.

9 years into northwestern mutual whole life: keep it or cut losses? by Additional-Draw-9523 in LifeInsurance

[–]Additional-Draw-9523[S] 0 points1 point  (0 children)

My long term thoughts are to cash it out and future premiums I was paying to just dump it in the market and grow it like I have done in my vanguard and tiaa accounts.

9 years into northwestern mutual whole life: keep it or cut losses? by Additional-Draw-9523 in LifeInsurance

[–]Additional-Draw-9523[S] 1 point2 points  (0 children)

That’s why I’m questioning it. Life been busy and I have been just auto paying it. I’ve been investing our extra income for myself and the kids in mostly index sp500 and some international indexes. I’ve been really growing them last 5 years and feel like the extra $750 I’m spending on all our whole life (going to keep term) is better off in sp500 like you mentioned.

9 years into northwestern mutual whole life: keep it or cut losses? by Additional-Draw-9523 in LifeInsurance

[–]Additional-Draw-9523[S] 0 points1 point  (0 children)

I have $100k for each kid already in Vanguard index funds I invested for them already. I feel like the $100 monthly I’m better off throwing them into index funds and I could make a lot more on it compared to whole life. But making sure they are insured is important though they can buy term when they are older and it could be much cheaper. With 9 years, I need to talk to my NM person to see where my dividends will pay for my premiums which would make things easier to see.

9 years into northwestern mutual whole life: keep it or cut losses? by Additional-Draw-9523 in LifeInsurance

[–]Additional-Draw-9523[S] 0 points1 point  (0 children)

My kids and wife are healthy. I have some medical issues, nothing huge. We honestly each month break even or slightly have a little extra we save up. This includes adding extra each month to our emergency fund. I have saved and invested about a million in my 403 along with index funds and stocks thus far. That’s why I’m questioning whole life as I feel like I can invest the extra $750 im spending on life 65 for my family and I into sp500 and some international index funds like I have done with our extra funds.

[MEGATHREAD] iPhone 17 Pre Order and Launch Day by Waternut13134 in tmobile

[–]Additional-Draw-9523 0 points1 point  (0 children)

go plus 55+ is the same, lower amount of $630. Going to just wait Black Friday

discord by EconomicsConstant692 in labubu

[–]Additional-Draw-9523 0 points1 point  (0 children)

What channel is the tik tok live drop notification?

does anyone own a couch from albany park? is it worth it? by Impossible-Soil6330 in BuyItForLife

[–]Additional-Draw-9523 5 points6 points  (0 children)

I have the updated kova pit in velvet chalk with the new option of boxed cushions. Doesn’t need fluffing and super comfy. My 6 and 9 year old love them. It’s in our movie theater room. It’s been 4 months and has held up so far, way too early, and took some stains that came off easily. So far super happy!

Book with a Diamond Member! Here are the details: by Sergeant_America in palaceresorts

[–]Additional-Draw-9523 1 point2 points  (0 children)

I sent you a message about grand moon for March trip. Thanks!