401k vs IUL
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- Опубликовано: 28 авг 2024
- As Americans, we are very familiar with the 401k, and you probably even have one, but chances are you have never heard of Indexed Universal Life Insurance or (IUL) for short, and even if you have, it’s probably a mystery to you and you probably don’t know that it is a retirement savings vehicle.
One trend we have seen is using an IUL contract as an alternative to the 401k.
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• 401k vs IUL
DISCLAIMER:
The Wealth Protection Lady makes content available as a service to its customers and other visitors to be used for informational purposes only. While our best intentions are to provide accurate and timely information, you should always consult with retirement, tax, and legal professionals prior to taking any action.
Thinking ahead to retirement is definitely a smart thing to do at any age. It's never too late to start planning now!
Amen💥💖🙏
I had never even heard of an IUL until your video. thank you!
Listening to this video in Jan 2022 and all I can say is that this is the most comprehensive video that shows how a IUL seems to be far superior that a 401k shown with all the numbers.
One thing I have heard again and again via various YT videos is “if this IUL is structured properly” which totally makes sense whether the policy is written to either maximize assets and death benefits for the policy holder OR to increase the commision for the policy writer and of course the company that provides that policy!!!!! Wow thanks much ma’am!!!
Thank you, Koustubh...and you are welcome!
This is such great information! Luckily I heard about the compounding of fees at 26 so I was able to shift easily but it's so good that you're sharing this info!
IUL tax free & limited fees are attractive features. Very informative & well presented.
Thx! This was so helpful. How do you find out the lowest death benefit the IRS will allow?
Thank you for making such clear descriptions!
The IUL is so new and interesting to me thanks for sharing - new sub here :D
Thanks so much for this. I’ve always been confused on how they work!
Such great overview about the differences of the two!
Very interesting information about IUL. Thanks for sharing this!
Very educational. Thank you for the information!
Such helpful information! Thank you!
Nicely designed video
You are amazing. Thank you!
Hmm, I wonder if my 401K which is loaded with fees is structured properly? I seem to be getting great gains, which match up with market perfectly, so all these fees are extremely well hidden, almost like they don't exist! Funny how everyone who loses money in these IUL set-ups is told they just didn't have it structured properly. Almost exactly like the Timeshare racket, when folks are told their contract wasn't set up properly, and the solution is to pay more money and sign a new contract.
Thank You for the clear and simple information !!
Glad it was helpful!
Wow! Simple and great info.. should i keep a 401, or reinvest that cash all in a life policy
This is really helpful. I have been studying this and working on this in my channel. New subscriber
You explained this well!
Great video! Thank you for sharing.
Great info
Hello, I love your channel...do you know anything about trusts?
Yes! You do not need to pay an attorney $5,000 to set up a trust. I set mine up for $30 using Nolo Press. Here is a link: store.nolo.com/products/make-your-own-living-trust-litr.html?_gl=1*16kei67*_ga*MTQ0MDEwNDcxMy4xNjc2NTA1NjEx*_ga_RJLCGB9QZ9*MTY3NjUwNTYxMC4xLjEuMTY3NjUwNTYyNi4wLjAuMA..
Thank you for the thorough overview. What is reasonable for the percentage of fees against monthly contributions for IULs? For example if $500 is contributed, what is a reasonable for monthly fee deductions?
Hi, Ms. Jackson! It is all dependent on your age, sex, health, whether you smoke or do hazardous activities. If you would like me to run an illustration for you so you can see what the fees would be, just complete the application. Here is a link to it. I look forward to meeting you!form.typeform.com/to/SNfW1IBA
excellent presentation... But I don't see the link to complete the questionnaire.
Ah...you are correct! I'm glad you pointed that out. Here's the link and thank you for the compliment. form.typeform.com/to/SNfW1IBA
great info, keep it up... which company do you work with for the IUL? which state aare you located?
Thank you, Ronald! I am an independent agent. This IUL is proprietary to Securian and Minnesota and only 5,000 agents in the U.S. are approved to offer this to their clients. I am licensed in almost every state in the U.S. I live in Texas right now but only because I am the sole caretaker for my 91 year-old blind and handicapped mother. When she is gone, I will go back home to Southern California where my kids are and who I haven't seen in 2 years!!
If I'm retired, 61 yrs old, and have $500,000 in a 401K, is it worth it to move it into a IUL?
Unfortunately, you cannot move a 401k into an IUL, but you can roll over a 401k into an index annuity with no tax consequences whatsoever. Watch my video on this topic: ruclips.net/video/XezlpQTrwdM/видео.html&ab_channel=WealthProtectionLady
401k's are NOT subject to probate if you have named beneficiaries. Just like life insurance.
Also, what evidence do you have that taxes will likely be much higher in the future? What if they are lower?
You make the IUL sound good, but I'm very skeptical! 😬
As stated in the video, the Congressional Budget Office warned in 2008 that the lowest income tax bracket would increase 2 1/2 times if Social Security, Medicare and Medicaid go unchanged. David M. Walker, former Comptroller General, said in 2009 that based on the current fiscal path, future tax will have to double or our country will go bankrupt. The Tax Cuts and Jobs Act President Trump signed in 2017 expires at the end of 2025 bringing the top income tax bracket back up to 39.6%.
Note: If you ever stop paying the montly premium you could lose your policy and everything you have contributed to date. think twice before you make decisions .
fact: if you borrow money from IUL you have to pay it back with interest.
You need to contribute for at least 7 years and the only way you could lose your policy is if it is not structured properly, is an expensive IUL, take out too many loans, etc.... If you take a participating variable loan, that loan amount never leaves your policy. It remains in your account earning interest in your chosen index. You do not need to repay the loan. If you take a fixed loan, that loan amount comes out of your policy altogether. You should repay a fixed loan.
Is there possibility of setting this up for Australians as you’ve explained?
If you life in Australia, you would need to find an agent in Australia
For a lender to match your IUL Is that 100k gross or after taxes?
$100,000 pre-tax.
Thia is absolutely great. You are a great and generous teacher. Unfortunately I live in New York and when I tried to fill out the application it says the IUL isn't available in New York. Any ideas?
I know! I'm so sorry! Insurance is by state and NY just has some weird insurance protocols.
I’ve been structuring IUL’s for clients in NY since 2021.
"Penalty free access to money (loans)". Why take a loan (100% your contributions) & pay the % rate back to the insurance Co.? That's a scam. In a 401(k) if you take a loan, you pay the % rate back to yourself.
Sideler74, some people take a loan to buy a car, for example, but I always tell people why would you take a loan from yourself to buy a car at 4.75% when, if you have good credit, currently you can get a loan from the car dealership for 2%. I'm not a fan of taking loans for purchases, but rather for tax free income in retirement. The loan rate for the IUL I offer to my clients is 4.75% for a participating loan where even though you take a loan, your money is still in your account earning interest. So, if the index goes up 10% and you took a loan for your annual income, you are still earning 5.25% on the money you loaned yourself.
Wealth Protection Lady, can the insurance company lower your cap without notice or is the cap guaranteed? If it’s not, what would cause someone’s cap to be lowered? I like your videos🎉
A cap can change; however, you only want an uncapped index -- preferably a volatility control index rebalanced daily.
@@WealthProtectionLady thank you, I like your videos
Question. How is one paid? Where does the money come from to pay the IUL policy holder when the index goes up being the money is not invested directly into the index?
Watch my video IUL on Steroids. It describes the index I use.
How much death benefit will IRS allow for an individual that will make the policy holder to maximum returns and limit fees?
The lowest death benefit is based on the amount of premium, age, health and gender.
What happens to the cash value when the person dies?
The beneficiary receives the cash value and death benefit tax free in a lump sum.
@@WealthProtectionLady Really? That's not what I've been told by NYL, Guardian or Mass Mutual. They told me (via email) that my beneficiaries only receive the DB. In fact, NYL went through a lengthy email stating that no WL policy offers a "Plan B" option much like a UL policy. It's weird, because the person I screen shot the comments quickly erased his comments and disappeared after I emailed them to his company. Seems that NYL doesn't like people misrepresenting their products. Could you share your provider's info? I'd like to screen shoot your comments and email them to the company. I want your policy that you are advocating. Thank You.
@@WealthProtectionLady (crickets) I'm going to say this as nice as I can because I don't like the fact that you are (purposely?) misinforming people. A lot of people are scammed into buying trash value insurance because they were LIED to by salesmen. At no time, do the beneficiaries receive both the DB and CV in a WL policy. Hence, they get one OR the other. Even the big insurance companies have sponsored videos here on youtube explaining how CV works. Right now, I'm going to give you the benefit of the doubt stating you don't know how Whole Life policies work. You should take down your "misinformation" and state the actual facts.
nice info.. few comments
1. U r comparing S&P index returns without including dividends, If u consider dividends then returns will be 383K.
2. U r considering very high cap 12.5% throughout in IUL. In reality IUL reduced the cap since 2005. Average u can consider 7-8% returns only. In that case IUL returns will be 268K after 18 long years
3. U r considering 100% participation rate in IUL. This is not correct. IUL changed participation rates anywhere 60-100% during volatile years.
Instead of 20 years comparison, you can do 30yrs comparison. IUL will drag a lot.
To reply to your comments: An IUL does not receive dividends like a whole life policy does. Regarding the cap, it was just an example of a cap. The IUL I sell is uncapped. Regarding the participation rate, the IUL I sell has a 115% participation rate as well as a 190% bonus multiplier, so however much the index goes up, you get 115% of that gain as well as 190% of that gain. A lot of IUL indexes do not have a 100% participation rate, but the one I sell guarantees 100% par rate as well as a 100% bonus multiplier. Granted, the IUL I sell is special and unlike any other IUL out there. Only 5,000 agents nationwide are able to offer it to their clients.
@@WealthProtectionLady Submitted form for estimate.
Don’t IUL‘s have a limit to funding based on income?
Hi, Michael! Yes. Life insurance carriers limit the annual premium to no more than 20% of household income.
IUL little fee? but how about sales agent makes 100% or little less commission from your premium in first year and about 10% in the next 10 years and 1-2% afterwards as passive commission. Further, you got charge admin and management fund fee. There is always fee on IUL.
Whenever you have someone manage your money, there are going to be fees. 401k fees are 2-4% more than a properly structured IUL.
Wow! 10% in the next 10 years??😂 Which company’s IUL offer that kind of payout? Show me.
As a sales agent in New York life, their payout pretty good. Life insurance is good for sales agent, because they got paid a lots, for the client, if they know how to design a right policy, then they might make some return otherwise they will lose money by lots of fee and bad market return. Only the death benefits is real for the client if they keep the policy active means keep paying and not lapse it.
@@WealthProtectionLadyalso, we all know that loan is free of tax, but if you take out your IUL cash value on capital gain distribution, is that tax free? Or when you hit retirement age, then it is completely tax free on capital gain just like the Roth IRA, I check the IRS code 7702 and talk to lots of life insurance sales agent, but still confused and possible misled?
Is it possible to transfer a [[401k- Roth IRA] to IUL?
No. Funding an IUL must be with money you have already paid taxes on. You can roll over a 401k or IRA into an annuity with no tax consequences.
Could you open an IUL for me
Sure! You can email me at suecunningham@me.com
Can you roll over 401k into IUL?
No, you cannot. You can roll over a 401k into an indexed annuity. Watch my video on that topic: ruclips.net/video/XezlpQTrwdM/видео.html&ab_channel=WealthProtectionLady
Hello,
I am thinking about getting an IUL , how can I contact you? I want to make sure that I structure mine the right way. Thanks a bunch.
Hi, Frankie! Complete this questionnaire and we can schedule a time to talk. application.wealthprotectionlady.com/
Lol so there are no downfalls to this plan?? Wonder if you’re in life insurance?? 🤔
Not all IULs are created equal. Some are downright dangerous because they are expensive. If the IUL is structured properly, has an index that is volatility controlled, rebalanced daily, performs well, has a high participation rate, guaranteed at 100%, offers fixed, indexed and variable loan options, etc... has no downfalls.
No downfalls as long as you ignore the 4.5 annual fees charged by every IUL which don’t exist in a good 401K. Teams of lawyers at the insurance company design these things, you think they design them so that you win?