Q. I have $70,000 tied up into Certificates of Deposit (CDs). It’s time to roll them over again or take the money out. I was unaware of life insurance benefits where I could’ve put my money into a whole life insurance policy and into index funds and receive higher interest. I saw it on TikTok videos. Should I remove my $70,000 that’s barely making any money and put it in a whole life insurance policy index fund? I will receive a pension also in about five years and I have another account with $20,000. I would keep my New Jersey home as a rental and then move to Florida.
— Maybe the grass is greener
A. We’re not saying that a TikTok video can’t give good financial advice, but hearing something on any social media should only be the beginning.