Sdento1

If you are a "self-sufficient "type of investor then Vanguard is a great place for you. However, if you need a lot of advice then vanguard will not be a good place for you.… Then you can look at other brokerage firms to five low-cost Vanguard mutual funds anyway
Either way you are headed in a great direction!.

If you are self employed I would think about starting an individual 401(k) to where you can contribute more (up to 17,500) as the annual contribution or even some type of simple or sep ira( depending if you have employees under you).
The most you can contribute to that is 12k a year, but both of these options are a better growth strategy than permanent life insurance.
To make sure your income is protected in the case of death or disability you needed a ton of term insurance and more than likely some disability income insurance so it would pay you and your expenses in case you were hurt for a period of time. This all depends on your setup(sole prop., partnership, ltc, etc...)
If you are a partner cash value life insurance can make sense if it was structured properly.
I would look that way towards saving and planning with investments and your basics for insurance.
I work as a fin. Planner so let me know if you have any questions( no strings attached)
This is a meaty conversation , but the most I can type with my iPad . Good question

Who are you insured with?

I work for a major insurance company and unfortunately everybodys rates are going up. It is the law of large numbers and south LA for you. I know it is not fair and never good for a rate increase, but just look at all reputable carriers and make sure you are getting a good price deal and good coverage as well. ..My advice...

I know Christian will play, but who else will start and who will back them up?
Thoughts?

No, this can be a great idea. The pro is that you can grow money tax free. When you put the money in it is not taxed, it grows tax free, and if you do it for over 10 years you can take loans against the policy by withdrawing an income. Loans are not taxable. You can use this with participating whole life.variable universal, or indexed ul....
Con: don't put all your eggs in this life basket, use it as a retirement strategy,
Con: you have to make sure it is funded correctly
Make sure you know somebody who does and it does it well
Also.if you die you lose the cash value to the ins. Company, but your beneficiaries usually get a larger tax free death benefit.
I would do this, Roth IRAs,...if you qualify and an employer plan and real estate---
My thoughts!
I own an insurance company and do this currently and recommend it to the right clients- I would say you need to make a decent income (100k) more and not a ton of debt....
Once again this is not for everybody, but it is the only tax free plan out there...hope that helps

You can use Roth IRAs for your kids and take out the contributions penalty free for your kid- if they don't go to college you can use it as a hybrid for a retirement fund for them or you.
If you stick to a dedicated savings plan just use a college savings 529 plan- you can contribute more than 2k per year...just my thoughts--geaux tigers!

State Farm-or liberty mutual-combined with auto insurance with them

No if the tree dies then unfortunately there is no coverage - if lightning struck it --then you have a claim.

Money market accts - check with State Farm bank. They give you whopping .3 for under 10k. That's terrible, but one of the best out there.

Looking to use as an investment supplement.

I used to live in p-vile and worked for State Farm. Now i run my own agency below Dallas. I obviously couldn't meet in person, but if you never want to do a conference call for free--I can help. I am a registered representative licensed to sell, but I'd be happy to give you advice. I am a nerd with that and if the money comes in- its just lagniappe. My income mainly comes from insurance. Anyway, my website is www.savewithsam.com or I can lead you to the right person.

Get a lot of coverage with term and buy a small whole life policy for burial costs now to lock in a low rate. Get a 20 hear level term policy, but aggressively save money through mutual funds or 401(k). Good luck!