Investment Ideas - Investing into something monthly

[Rayman Shakuri]

Hello,

Where would you guys invest $500 a month into? I was thinking of getting me a whole life insurance policy that builds cash value, but then i was thinking if i should put that money into a ROTH IRA?

I would love some tips.

Thanks,
Ray

[Steve Perkins]

Whole Life is not necessarily a scam, but as mentioned earlier, you need to understand it (which is no way feat). My take is that in general, IRA/401k is a Bette reinvestment for MOST people unless you max those investments every year and have additional money left over for which you want to find tax sheltered investments for FUTURE returns. You're correct that you won't see decent cash value for several years, so you need to be prepared to be in it for the long haul.