David starts the conversation by describing why it makes sense to have indexed universal life insurance.
Did you know that any taxes you pay in your taxable brackets are, ironically enough, optional?
David reveals that the ideal amount of money you should have in your taxable bracket is six months of living expenses.
Once you've maxed out your IRA, David believes an IUL becomes a great avenue to reposition surplus money into a tax-free investment bucket.
David explains that IULs are great because they have no income limitations and no contribution limits.
According to David, IULs don't require you to take market risks, so they can serve as a suitable bond alternative with lower risks and higher returns over time.
If you're married and over age 60, an IUL makes it possible to get your death benefit in advance of your death for the purpose of long-term care.
David highlights the 3 main reasons people hate traditional long-term care insurance:
Mentioned in this episode:
David's books: Power of Zero, Look Before Your LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code
DavidMcKnight.com
PowerOfZero.com (free video series)
@mcknightandco on Twitter
@davidcmcknight on Instagram
David McKnight on YouTube
Get David's Tax-free Tool Kit at taxfreetoolkit.com
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Why Ken Fisher Does NOT Want You to Do a Roth Conversion
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Why Don't More Financial Advisors Recommend Indexed Universal Life?
Your Roth Conversion Roadmap for the Next 10 Years and Beyond
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Is IUL the Dream Investment that Doug Andrew Claims?
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Is a 100% Tax-Free Retirement Really Possible?
A Recent Penn Wharton Study Says that the U.S. has 20 Years to Fix Debt or Face Cataclysm
How to Figure Out How Much Money to Save for Retirement
The Best Way to Make Sure Your Money Lasts as Long as You Do
Exposing the IUL TikTok Trap
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