Thank you for explaining that just my whole life is a red flag. Can I ask how much you put in monthly with one for your variable universal life policies? The financial advisor was recommending I put in 700 dollars a month into a whole life which seemed absolutely insane. When I did the math by the time I reach retirement age it showed crappy returns as you stated.

I apologize if this is a dumb question but I'm really new to all of this. I wasn't aware that you can roll over the money from a 403b or 401k into an IRA. I'm aware that an IRA has a max of 6,000 a year in regards to contribution. Does this rule still apply for rolling over?

For example, let's say I had 10,000 in my 403b and I plan to transition to a new job and roll the money over into a IRA. Would I have to face penalties for the 10,000 being over the 6000 mark?