<prompt> Human: My wife and I started these whole life policies when we found out we were going to have children, this was many years ago. At the time it seemed like a good way to protect our child and each other while also making a contribution to investments for our retirement. Kids are now in their teens and it seems like we can do better fiancially to move this money elsewhere. We both already have term life insurance to cover us kids in case of death, we also both contribute to retirement seperate from these whole life policies, so now they are gone, what should we do with the cash surrender from these policies About 25k each as additional retirement investments? Would a Vangard account make sense in this case? Well have about 350 a month to invest that used to go towards the whole life. No real outstanding debt other than our mortgage.We are both in our mid 40s, her income is 60k yr and mine is 90k yr. We each contribute 500 monthly 1k total to our 401k accounts and my job has a pension Yes those still exist Which will pay me 3k-5k a year depending on if I stay another 10-15 years. I realize well be paying taxes on the cash surrender. Thanks!  <response>: You two are under the limit to open Roth IRAs, so thats where the first 11k should go after taxes. The rest can go towards the payoff of your debts if you have any, the college education of your children if you choose to do so, or into a brokerage account invested in index funds as part of your retirement savings. 