Long time browser, first time poster in "the stacks." Please forgive and inform me of any mistakes I make.

I recently graduated college (23 years old) in the US and have started my first salaried position. I have $50000 in cds that I'm planning on saving for a house. I have about $3800 per month after rent and food. I have $1000 in a Roth IRA. No college debt.

In speaking with a financial adviser who is sort of a friend/good acquaintance, he recommended I save using a Roth and buying whole insurance. I did some googling and found the Roth to be a reasonable deal, but the insurance seemed a little sketchy (please explain to me why I'm wrong here if I am, I do have a wife if that's relevant, but no debt, and she's a smart cookie who'd manage fine financially if I kick the bucket on my way home from work tomorrow). 

My mother, who admittedly claims to have no "real" knowledge about investing/money, recommended that I keep my cash in an easily liquidatable form so as to purchase a house without huge loans as the interest rates I would pay on those will be higher than the interest rates I would gain from investing (outside of the potential from something "riskier").

In general what are the pros and cons of each of these scenarios? (And again, I'll be happy to provide additional information/change anything upon request, and I'll also make sure to accept an answer in a few days/whatever time-frame seems reasonable)