CPA Reveals His Strategy For Tax-free Retirement Income
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- čas přidán 26. 06. 2024
- Lane and Ed Slott, CPA discuss Roth and Life Insurance for a tax free retirement.
Full Ed Slott Interview: • WARNING: THE RETIREMEN...
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00:00 Introduction
00:55 The Three Tax Buckets
02:35 Life Insurance Strategies
04:18 Ed Slott on Life Insurance
08:09 I Don't sell Life Insurance
10:55 Seriously, Life Insurance?
14:45 I Practice what I Preach
19:50 A Sophisticated Financial Tool
It's clear you have a deep understanding of the financial landscape and a knack for simplifying complex concepts. Keep sharing your wisdom-it's truly empowering! -Macy (Team Evan)
Great video! I recommend to all
very good and useful video
Use a 401k-Roth if it is available. Also can do pre-tax 401k conversions while retired. I don't understand buying whole life insurance at 50 or after. I bought mine in my 20's. Much cheaper.
The premise, while it has merit regarding growing earnings tax free, are true only as long as the policy remains in force.
It also ignores the decades of gains and earnings growing tax free in 401(k) and the like and not paying taxes in the years of the earned income, when many people/families need as much of their gross income they can keep as possible.
You should not compare the gains to stock market gains, rather it should be compared to bonds. The life insurance strategy is an alternative to bonds. It is the conservative portion of a portfolio. Also, it can be started and funded in your 50's or 60's and funded from other types of savings accounts, not necessarily from income. Ultimately, the tax advantages and the living benefits make it a uniquely powerful financial tool but there are many variables to be considered. Thank you for your comment!
Nice
i am glad I have a life insurance that cash grows income tax free plus LTC. This is very important especially when you get old, healthcare become so expensive.
The "Life Insurance" Plan/Strategy... ONLY WORKS with NO "Pre-Existing Conditions" ?... Please correct me if I am wrong. At age 66 I have a $1MM IRA that I'm wondering if making a mistake by waiting for 72 Y.O and RMD's and not now ... Looking at other alternatives to save my Tax Burden at Age 72???... Not to Mention the LTC discussion in this Video... WELL DONE!. Contact information appreciated.
I would be happy to discuss this with you. My office phone: 480-550-6556
@@FinancialFastLane Thank You... Will call you tomorrow.