<prompt> Human: Heres my situation, Im 23 married, and I earn about 38K per year, Im also going to college full time. I found out that if I take a life insurance policy, I can borrow against it. Additionally I choose a retirement age. I want top retire at 55 maybe 60, so if I live past my retirement age I get paid 200k per year. This is too good to be true, but its real! the only thing is that premiums are 500 per month with a 7,000 initial premium for the first year. I have about 32k cash so I can afford it, but is it smart? Should I get the policy, or should I just invest the 7,000 and 500month into IRAs. Im young and have some time to plan for retirement. Are there better options?Edit1: Thank you for the great advice! So Whole Life Insurance is not the best retirement option for somebody in my situation. What are my alternatives? Im healthy and dont plan on dying soon, so life insurance is out of the question. The way they sold it to me made it seem like a good idea, good thing I didnt actually buy the policy.  <response>: No. This has bad idea written all over it. You are willing to contribute 22 of your take home income on life insurance?No, just no.Go the standard investment route and dont get conned. 