<prompt> Human: Im fresh off of a May graduation and spoke with a financial adviser at Northwestern Mutual and she came up with the following plan for me:Ive got 28k in student loansI make 50k yrAfter bills and my budget, Ive got an extra 1k a month of extra money.Build up emergency fund: Get 3-6 months of emergency fund, contribute 250 a month to this. Half of that will be in a traditional savings account, and half will be in a money market account.Overcontribute to student loans: minimum payment is 300, Ill be contributing 500moCash Value Life Insurance: 200k Policy, used as a long term savings, and I wont be touching this for 10 years. This is 140moInvestments: With the remaining money each month after all of these, I will be investing it for short term savings, which is 3-10 years. Im not sure of the details on this yet, but I have a meeting on Monday to go over this section.After the emergency fund is up to speed, that money will be going elsewhere. Ive heard some pretty nasty things about whole life insurance from people my age, and people who are my parents age wish they had done it at my age, so Im a bit torn on it. It seems like a good plan, since it is pretty diverse. What do you guys think? I can answer any questions you have.EDIT: Forgot to mention, I am contributing 3 to a 401k with a conditional match with my employer.  <response>: First and foremost, cash value life insurance is the wrong way to go. You dont need life insurance AT ALL unless you have someone or many someones depending on your income as a primary source of their livelihood spouse, children, etc. Second, if you do need life insurance, get 15-20 year level term -- NOT cash valueuniversal life. At your age term insurance costs about 10-15 times less than a similar cash value policy.Second, the words investing and short-term go together about as well as oil and water -- short term 0-5 years is for savings, long term 10 years is for investing. I honestly wouldnt worry about any type of investing outside of retirement at your present stage, but would revisit the category as I got out from under student loan debt. 