Surrender CVLI and 401k Investment elections

I just finished the course and realized I had no idea what I was doing with my money in my early years! I have a few questions.

1.) Many years ago I purchased term life insurance, disability insurance, and whole life insurance thru Northwestern Mutual. I later consolidated and rolled over several retirement accounts to them. After going thru your course I reached out to the Financial Advisor and asked if there was a way I could change the investments in my account and he explained I can’t. It’s currently invested in about 15 different funds with expense ratios from 0.04% to >1% so my thinking is to roll this over to a Fidelity IRA (where I have other accounts) and invest in FIPFX. Is it a good plan to have all of my retirement accounts invested in the same fund?

2.) In regards to my whole life policy, I took a look at it and I have invested about $9,300 and today the CVLI is about $6,300. It pains me to think of what that $9K would be worth if I would’ve been investing it in an index fund. However, my question is do you think it’s best to surrender the policy now and take a $3k hit or better to wait until it is more closely aligned to surrender?

3.) Lastly, I’m soon eligible to receive the 401K match at work and will be investing in that. There are several different index funds available as investment options and I know from the course to choose a 3 pronged approach but I’m a little unclear as to what domestic stock to choose. The only international index fund is FSPSX and bond index fund is VBTIX. However for domestic I can choose from FLCOX, VSMAX, VMCIX, VINIX, and VIGIX. I don’t know what to look for to determine which one to choose.

Thank you,

Hey Shannon!

I’ll cover this in tonight’s office hours (7/14/2021) with the recording available afterwards on the course site!

If you’re not signed up for office hours, you can sign up here.