Consider a Change in Your Financial Diet...

Does your current financial diet have you feeling fit?

Assume that TRADITIONAL retirement planning is equivalent to meat & potatoes. Is that a healthy diet to adopt for your entire career? The IRS loves for you to “eat” this way! It makes for a tremendous feast for them when you are done. Why? Traditional qualified retirement plans convert ALL growth inside the plan to an ordinary income for tax purposes. Furthermore, the IRS imposes HUGE penalties in addition to the ordinary tax if you don’t take the distribution when they want you to.

“ I like the fact that if I’m not around to contribute to my retirement plan my family still gets the income I planned for.”

 

Living Wealth

When does your $1,000,000 retirement plan ever convert to a usable $1,000,000?

Never! Your account is worth much less if you want to convert your retirement account to food, safety and stuff.

 

Legacy Wealth

If you die with significant wealth and no financial plan, the amount that actually transfers or converts to wealth could be pennies on the dollar!

LIRP > A Healthy Supplement

Consider a Healthy Change to your Financial Diet, Life Insurance Retirement Plans (LIRP)

Take a look at the following benefits

  • Self completing in the event of death or disability
  • Income tax-free death benefit provides funding to your family if you die early1
  • No IRS limitation of contributions
  • Pre 59 1/2 access to your money – no 10% penalty tax
  • Tax-deferred accumulation of cash account
  • Tax-free access to cash account12

“But I make too much money to make Roth IRA contributions. A LIRP is a nice addition to my financial goals

1Income tax-free according to current tax law effective August 1, 2017. Tax-free only as long as policy is in-force. Penalty if the policy treated as a modified endowment contract. 2 Tax-free via policy loans and withdrawals as long as the policy in-force. Assums policy is not a modified endowment contract.

When to pay taxes?

Consider the Trail of the 1099…

“My goal in retirement is to have as much of taxfree income as possible.”

 

1099 Now

  • Savings
  • Investments
  • CD’s
  • Stocks Bonds
  • Mutual Funds
 

1099 Later

  • Traditional IRA Deferred Annuities
  • Simple IRA
  • 401k, 403b, 457
 

1099 Never*

  • LIRP
  • Muni Bonds
  • Roth IRA

*Distributions only, assumes current tax law

Watch Our Video

LIRP > What’s Your Number?

 

Female Age 45

Preferred plus non-smoker

Annual LIRP contributions from age 45 to age 65

$24,000

LIRP annual income from age 66 to 86

$83,822

Income to age 100

$67,572

Initial legacy benefit

$643,858

Assumed Gross Accumulation Rate

6.17%

 

Male Age 45

Preferred plus non-smoker

Annual LIRP contributions from age 45 to age 65

$24,000

LIRP annual income from age 66 to 86

$86,597

Income to age 100

$70,093

Initial legacy benefit

$521,258

Assumed Gross Accumulation Rate

6.17%