IN THIS EPISODE, YOU’LL LEARN:  01:47 - What the differences between a Roth and Traditional IRA are. 04:40 - How to decide which account to contribute to each year.  09:23 - Which types of securities you should hold in each account.  24:45 - When a Millennial may want to consider buying life insurance. 28:01 - What the different types of life insurance are. 37:45 - How to decide whether to go with a term or whole life insurance policy. 40:22 - How life insurance can be used as an investment and when you should consider this. 42:48 - What kind of returns you can expect from using life insurance as an investment. 44:10 - How to use life insurance to borrow against it and when this makes sense. 47:07 - How much life insurance should you buy? 49:46 - Should you open a joint/custodial taxable investment account for your kids? And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESCheck out Money Crashers.How Much Life Insurance Do I Need?.Life Insurance for Millennials – Do You Need to Get It and How Much?.Backdoor Roth IRA – Definition & How to Make These Contributions.Related Episode: Take Control of Your Financial Future w/ Brennan Schlagbaum – MI092.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Robert and Rebecca’s favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Get up to 3% Daily Cash back on everything you buy with Apple Card. Subject to credit approval. Daily cash is available via an Apple Cash card or as a statement credit. See Apple Card customer agreement for terms and conditions. Apple Cash card is issued by Green Dot Bank, Member FDIC. Variable APRs range from 13.24% to 24.24% based on creditworthiness. Rates as of August 1, 2022.Invest in high quality, cash flowing real estate without all of the hassle with Passive Investing.Private assets represent 98% of companies in North America but are absent in most portfolios. Reconstruct your portfolio with private markets with Mackenzie Investments.Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One. Make backing up and accessing your data astonishingly easy with Backblaze. Sign up for a free trial today.Push your team to do their best work with Monday.com Work OS. Start your free two-week trial today.Support our free podcast by supporting our sponsors.Connect with Brian: Twitter| LinkedIn  Connect with Rebecca: Twitter | InstagramSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.