================================
Sign up for email list here.
Find this video of value? Buy me a cup of coffee!
Get Your Own Pablo Retirement Gear:
Follow me censorship-free!
My course “Can I Retire” will help reduce your stress when it comes to retirement planning.
Get it here:
and don’t forget there IS a 30 day money back guarantee if you’re not satisfied!
Get my books on Audible here:
Want to support what I’m doing for $10 a month?
Join my SubscribeStar page!
My Amazon Product page:
Anything you buy there Amazon pays me a commission. Much appreciated!
GET MY BOOKS:
ALL are FREE to Kindle Unlimited Subscribers!
You Can RETIRE on SOCIAL SECURITY:
The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It:
Strategic Money Planning: 8 Easy Ways To Put Your House In Order
GET ALL MY LATEST BLOGPOSTS:
Watch more new videos about Insurance | Synthesized by Mindovermetal English
Love the illustration – after the first five year’s contributions of a *quarter of a million dollars*, you actually have less than what you put in. Solid.
But..but…if you die, your kids hit the jackpot!! Ha! Permanent life insurance is the best return you’ll never see 😊
Still, permanent life insurance does have its place in retirement planning. Just know what you’re getting into. Nearly half of permanent life policies are surrendered/cancelled within 10 years. Don’t become a statistic.
Looking at the spreadsheet, after 5 years, the cash value has made no money and the death benefit goes down every year. If I die at year 10, they keep 300 something thousand and pay a death benefit around 600k. So I paid 250k for 600k of life insurance. I think Ramsey is right, this is a ripoff.
Term only for me, much better in so many ways.
For some reason, I no longer appear to have the search function for YT channel content … does anyone happen to know if Josh has done anything on covered call ETFs? I've been trying to read up on them myself, but it's a topic where I need someone to explain it to me like I'm 5 years old, and I know this guy is great at breaking down more complex stuff. Like I said, I would have searched for keywords, but that options has (hopefully only temporarily) disappeared. Thanks for any info!
Thanks for the info. I heard some very high pay people, like the university of Michigan football coach are taking compensation as funded insurance policies. I’m guessing this helps them avoid future taxes.
Josh, love this permanent life insurance view. You should do a whiteboard on a term policy with a conversion extension rider. These are good options too for those in their 40s and 50s and have the option during the plan to peel off a portion for whole life or 10 pay or… — good options for future if they become uninsurable, need more tax allocation strategies,….
While I think permanent life insurance has its place, in general I’m not a fan. These products overpromise & underperform. They’re incredibly complicated. They’re riddled with fees.
They have a place in advanced retirement planning, but typically only for high income/high net worth individuals. And only after traditional retirement accounts (401ks, IRAs, ROTHs, HSAs etc) have been maxed out. Do your homework. Caveat emptor!
This product is for my family to have a safe tax free money when I pass!!
Insurance companies have to invest their general fund as well in the same markets as everyone else. They are more conservative but it doesn’t remove all the risk. They still have to do it to be able to pay all their claims. Nothing is risk free and it is all tied together.
Josh, thank you for doing this presentation especially during times like this. I agree it is not the greatest but it is a solid option. Thank you for all that you do.
It’s a scam, period. It’s a horrible investment, people would be better off using a CD and term life.
Sorry Josh, whole life is pure garbage. The only one that benefits is the salesman and the insurance company.
Is there a Table that shows the yearly max income limits for Social Security? My numbers seem much higher but I think I'm using indexed numbers that may be higher than allowed. Thanks
Very informative. What is the benefit of WL Insurance to a wage slave in their late 20's with a company match 401K, company life insurance to an employee with 2 kids, mortgage etc?
Vs a small business owner, few if any employees in their later 30's early 40's mortgage, etc.
My issue with WL is how they are sold instead of being bought. It is a good product when properly used. But few insurance salesmen have ever seen anyone they would not sell a policy to.
Oh and thanks for the 2:20 point. I hear in the Josh whiney voice…."But Dave Ramsey says…"
The key to getting these returns is you need to Pay Up Front. Pay the policy as fast as you can and still allowed by IRS to avoid MEC (which would cause your contributions to be taxable).
Thanks Josh. I’m doing this!
I have heard people complain that you have to borrow the cash value, paying interest on your own money and that your heirs don't get the cash value which could be sizable. I need to better understand the benefits associated with the cash value.
Salute. I have to disagree on IULs they're great IF structured properly. WL in the guys situation shown on the illustration seems like it's trying to be a LIRP but he's in danger of triggering TAMRA as he paid in 5 years
Josh= This is how the wealthy preserve their wealth handling it to generational families
Josh = One can covert from term to permanent insurance
Josh = Theres a difference from a mutal company and others
Josh = Whole life exempt from taxes