This was a great question posed to me today:
“Would it be suitable to seek safety and soundness inside a life insurance policy instead of an IRA or 401(k) ? ”
Here’s the short answer:
- The stock market has decimated people’s retirement plans in the past 10 years, with a net negative rate of return (ROR)
- Federal income taxes MUST GO UP if we are ever to control inflation and get out of the $ 14.0 trillion in debt, not to mention our national unfunded liabilities.
- A qualified plan contradicts the philosophy of EVERY bank in existence, i.e. to control the capital.
- Exchanging an uncertain future return for a guaranteed death benefit, a guaranteed return, control of capital, and immediate use of the money, has to be the best keep secret used by billionaires in the U.S. {one of whom is our client)
- If you analyze the losses due to management fees on the imbedded income taxes inside a so-called “qualified plan” over 30 years, you will see how badly we advisors have been duped. Why in the world would you pay an advisor to manage tax money that you will never see again?
Please contact me with any questions.
