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I turn 24 in September. My gaols are to retire at the age of 35 years and then may be work part-time or not work at all after that.

My financial advisor suggests that I should put my money in a Variable Universal Life policy. She says that if I deposit $1000 every month from now till 35, at age 55 I will be able to withdraw the following amounts till age 95 from different investments along with the charges shown below:

Investment type Return rate Withdrawal amt/yr Charges
Tax Free bonds 6.5% $16000 $110,165(capitalgains)
Var Univ Life($1000/mo) 10% $70,700 $30,509(Insurance)
Var Univ Life($2000/mo) 10% $147,000 $38,227(Insurance)
Mutual Funds 10% $30,000 $428,137(Taxes,gains)
Variable Annuity $119,000 $399,115(taxes etc.)

My question is if there are any other better options than the above mentioned ones. Among the ones listed above, which one is the best for me. My advisor is really pushing me to get Variable life Insurance (VUL). Because of her attitude, I don't feel comfortable with the VUL even though the numbers look good.

My dad says that my advisor and her company will make a lot of commission with my money if I go with VUL. So I suggested tax free investments like government bonds and she said I will get only 6.5% back on that, and regarding stocks and mutual funds she said I will pay a lot on the taxes and capital gains.

Please guide me as to what is right and good. Is what my advisor saying correct? Other people I talked to warned me against VUL.
Thanks
JM
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