Oh boy! You are so predictable, that if you were a fish, I could go to the river without any bait.
I don’t want to call you names, let’s leave that to people who read and understand you are just mumbling jumbling nonsense out of stupidity and contempt for the many benefits of life insurance. Yes, you are!
Didn’t you read “after paying taxes” comment? Are you so not smart to not understand that under title 26, section 7702 of the tax code you get tax free money via life insurance?
Also, are you so dumb to have ignored this little comment in my last posting:
“Assuming this couple can get rid of their 401K, and instead they use money after paying taxes on an indexed universal life policy”
See Marcus, I am doubting you work in the high tech industry. I believe those guys are good at math and very smart. Are you sure you are not working in a 7-11?
But I will be patient enough to explain to you that 401K money hasn’t been taxed, that you will pay dearly at the end, with management fees up to 2% that eats half of your returns. And money put into a life insurance has been taxed, no IRS at the end.
So, for insurance or tax reasons, in this example you pay from your bank the premiums, they came from your paycheck that deducted the respective taxes.
Oh, I’ve said it many times, we work with people that are paying lots of taxes and our programs make them pay almost nothing. $600K in taxes can be reduced to $30K.
I also said that Twhitler is not wrong on doing what he does, he hires people who know how to make him pay almost nothing in taxes by using the tax loopholes. What I despise is the “I am paying taxes” hypocrisy. No, he ain’t paying taxes like you and me. Period!
Now, for the sake of numbers I will challenge you. The illustration runs about 7% returns. It can be more, 9%-12% but it could also be less, but let’s leave at 7%, also, no taxes to be paid, it is a net 7%. I forgot, it is based on compound interests.
Tell me, where do you find a property worth $273K that allows you to retire with an income of $189K a year for 35 years, tax free, and you never pay the loans?
Are you sure you are a smart person Marcus? I would really love to see you using that brain unless you posses an empty skull.
http://codes.findlaw.com/us/title-26-internal-revenue-code/26-usc-sect-7702.html