Life insurance or retirement plan?


Most fiduciaries — individuals who are required to act in your best interest — believe you should fully fund other retirement vehicles first, such as a 401(k), 403(b), IRA or Roth IRA. There is generally more flexibility in your investment options, lower fees and more transparency with these accounts.

Investment advice should come from a fiduciary. If the person you are speaking with does not have to act in your best interest, they may not give you straightforward advice. Before you consider any investment, make sure the person’s motives are aligned with yours. Understand what you are investing in, the fees involved and your alternatives, because if something sounds too good to be true, it generally is.

(Editor’s Note: This article originally appeared on

— By Sam Dechtman, wealth advisor and partner at Dechtman Wealth Management

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