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Reply to "Stupidity"

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.

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