How to get a Tax-free Retirement - Indexed Universal Life (IUL)
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- Опубликовано: 28 авг 2024
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High income earners are always looking for ways to generate tax efficient income. What could be more tax efficient than not having to pay taxes at all? Most people are aware of the great benefits surrounding ROTH accounts, but one overlooked vehicle is the indexed universal life policy.
People in the comments that like to shoot this down…..watched the video for a reason.
I love the way you broke everything down about it in this video. 12 out of 10!!
Thanks for watching!
I did not see an explanation on how the ins policy outpaced the roth with lower gains input.
How is it possible for the IUL earning 6.64% every year to outpace the Roth earning 8% every year? In years 21-22 the illustration shows the Roth goes down but the IUL goes up by 110k.
great video, keep up the quality videos
Thank you!
this is gold
Good video. Very informative. I don’t think whether tax rates will go up is the most important decision point. Tax free is better than taxable whether taxes go up in the future or not. Since this is geared toward high income people my assumption is much of the money invested in tax free items won’t be needed for day to day expenses. Therefore there are many tax free choices, including the 3 you mentioned (cash value life, municipal bonds and Roth). I would add an HSA prior to age 65 for contribution and longer for accumulation as well as stocks if you don’t sell them. In fact stocks have the added benefit of being able to harvest losses against capital gains plus $3k of ordinary income each year. Thus I would only suggest cash value LI if you want life insurance. Otherwise you can choose from the other items and save the cost of insurance. I prefer stocks which I hold and where my heirs get a step up in basis or inherit tax free from my Roth. Be careful of HSA though. It’s tax free for you and your spouse but taxable after you both pass away so make sure to eventually empty it out.
By Patrick Kelly lol. Nice presentation, I like your channel !
In this case you should compare with all cash value life insurance policy, not only with IUL , which have high fees and no guarantees. People don’t loose money by putting money in IUL. Be careful
The IUL is the cheapest form of CVLI, but thanks for watching!
IUL is initially cheap but the internal cost of insurance (to cover the eventual death claim) rises every year, yes, every year. You won't lose money in the market but the company can grab your money to cover costs, later on.
How do you feel about F & G (Fidelity and Guaranteed) ?
The policy guarantee is 1% right?
The policy is garbage
Depends on the product!
What happens to the cash value on death? Does beneficiary receive? Or do they just receive the db portion?
Depends on Which Death Benefit Option you choose.
B Option, do they receive both? And A, receives just the db?
@@passivedividendsoptions Option A the bene receives the initial/base death benefit in the life of the contract. So no matter of CV is increasing the DB stays the same and the payout stays Level. Option A is also called Level Death Benefit.
With option B, the Initial Death Benefit increases year after year so the bene would receive the increased death benefit, whatever that amount is, at death. Option B is also known as Increasing Death Benefit.
Like most universal life policies, the cash value has enormous fees to where you have to pay out of pocket to cover the term. In IULs, your gains are capped and very little (like none) is actually invested in the stock market. Scam.
@@astroman30 I like using IULs as bond alternatives in my asset allocation. More upside, protected downside & leverageable.
I actually have a universal life policy I am happy with but You lost me when you put the spreadsheet up. There is no world where 6% beats 8%. Your software is either accidentally or purposely flawed. Either way is bad.
Tax rates DO NOT have to go up to cover deficits. Again, income tax rates do not have to go up in the future. I know this contradicts your FEELINGS and what seems to be true at first glance, but do not assume your future tax rates will be higher. Typically, individuals face LOWER tax rates in their retirement years. But it can go either way. Remember, the government can print/create money. implemented. Don't base your financial plans on assumptions and predictions of future legislation.
This is easy. You won’t get close to 6.4%.
Thanks for watching!
IULs are garbage with their high fees/commissions and capped gains.
Thanks for watching! I hope you learned something through my channel.
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