@Marty Grzynkowicz posted:I rarely post what I do, but we sell these. They are designed for people with consistent higher incomes. We call them LIRPs. (Life Insurance Retirement Plans). They create a huge tax advantage if they are funded properly like Phil does. Today many of them also have chronic and critical illness attached the death benefit.
I actually forgot the best part. All 1.8 million that this plan will provide is tax free. I know some of you remember the Intermeccania I had. When I bought it I was in the process of putting both my sons through med school. I had no disposable income. Probably wasn't the smartest thing I've ever done but I borrowed $40k from the plan to buy the IM. The dividends from the policy paid for the car. And I paid NO capital gains on that money. I've made anywhere from 5-9% on that policy every year. Even when the stock market is in the crapper.