14562 days ago
Saving money in life is critical, everything from becoming wealthy, to going on quality vacations. As the owner of a large online financial publication, I’ve come across hundreds of places where experts advise you to save your hard earned cash. The typical ones are a savings account, CD’s, or some type of bond. I don’t save in any of these, well I do invest in some bonds, but I don’t consider those a savings vehicle.
What I am going to share with you now can truly change your life, I know this because it changed mine. It gave my savings certainty, safety, and even protection from the IRS!
Now it took me several months of research to finally truly accept this strategy, but since implementing it, I’ve never looked back. In fact, I’ve set up one of these savings vehicles for each of my children, and as a family, we have a total of 6 of these accounts.
Before I give you this powerful strategy, let me highlight the benefits.
- Tax Free Growth
- IRS Proof
- Creditor Proof
- Returns are 7X that of a CD
- No Withdraw Penalty
- Can even use your cash as collateral for a loan
This strategy and the businesses that manage them have been around for centuries, literally; the company that manages 5 of mine was established in 1877. What I am doing is setting up whole life insurance policies, but please forget about the life insurance, I don’t care about it, and neither should you. The life insurance is the icing on the cake, but the real benefit is the cash value, the money you have access to while you are alive, is tax free, did I mention tax free. Oh and the policy can’t go down. In 2008 when the financial crisis hit, everyone who owned one of these policies saw their values go up.
There is no downside to this in my opinion, you’re going to save anyway, so why not put your savings in an insurance wrapper and enjoy the benefits of the safest industry known to man. You see, whole life owners are actually seeing their accounts rise from the profits of the business of insurance, which are then paid out to the policy owners. So none of these type of insurance companies are traded publicly, these are all private businesses.