When to claim your social security benefits is a strategic and vital consideration. Unfortunately, the good folks at your local social security administration office are likely to be of little help. Not only are they not trained in claiming strategies to help you maximize your benefits, but they are also not allowed to advise you on the best way to claim.
In the previous three parts, we’ve espoused the potential benefits of a properly structured Life Insurance Retirement Plan (LIRP) within a well-rounded tax-free retirement strategy. Here in Part 4, let’s get down to some brass tacks that are important to consider. We will cover:
In Part 1, we discussed the different types of LIRPs and their basic setup.
Let's jump right into Part 2 of this 4 part blog post on utilizing a LIRP as part of a tax-free retirement by discussing various engines or crediting strategies that LIRPs can use to potentially grow your money.
In jumping into this topic, we are going to presume that you have read several of our other blog posts on retirement planning, such as The Tax Columns, How Much Does My 401K Save Me
If the first 3 parts of this post disturbed you, we get it. So, what should we do?
We think you’re with us a far as how things breakdown, so we’re going to continue this example in summary form, as we did in Part 2.
In Part 1, we put forth an example of the full equation of saving for retirement with our example couple, Ryan and Jen.
How Much Does My 401K Save Me In Taxes? We're glad you asked.
Much has been said about the wisdom of utilizing index portfolios/funds (whether mutual funds or ETFs) rather than managed portfolios due to the former’s lesser costs and its historical long-term over-performance over the latter.
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