Best use of $5000 annual premium for retirement cash?

[Blr19]

52 year old male non-smoker looking to stuff away about $5000/year into a policy to accumulate cash value to draw on in retirement. DB not a concern as I have other insurance in place for that.

I am looking for opinions (backed with reasoning) on whether a Par WL or IUL would work better for retirement income considering I'm looking at only (at most) 15 years of premium.

Yeah, I know, shoulda started sooner. I plan to have more to put away in the future but want to get something started now.

Thanks

 

[titeye]

Why life insurance???

 

[Tahoe Ray]

Why life insurance???

Unlimited Roth from a tax perspective, fairly safe growth from a return perspective.

There are lots of reasons to over fund a life insurance policy with a lower death benefit.

 

[titeye]

Unlimited Roth from a tax perspective, fairly safe growth from a return perspective.

There are lots of reasons to over fund a life insurance policy with a lower death benefit.

The Roth itself is not an investment. It is simply a vehicle used to title an investment(s), just like a traditional IRA, or 401k, 403b, 457, etc. The title alone does not dictate the safety, growth or it’s return. The investments that actually fund the Roth is what determines its volatility, safety and/or growth.
He’s only investing $5,000 annually. What we don’t know is if he’s maximizing his Roth contributions. Considering he started saving late in life, it sounds like he’s not even utilizing a Roth, let alone maximizing it. That’s why I asked...”why life insurance?”.

 

[Tahoe Ray]

The Roth itself is not an investment. It is simply a vehicle used to title an investment(s), just like a traditional IRA, or 401k, 403b, 457, etc. The title alone does not dictate the safety, growth or it’s return. The investments that actually fund the Roth is what determines its volatility, safety and/or growth.
He’s only investing $5,000 annually. What we don’t know is if he’s maximizing his Roth contributions. Considering he started saving late in life, it sounds like he’s not even utilizing a Roth, let alone maximizing it. That’s why I asked...”why life insurance?”.

Very familiar with Roths, that's why I said "from a tax perspective"

And I agree, maxing a Roth first (assuming he qualifies) is normally a sound strategy.