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I'm retiring next year from one of the big 3 at the end of the year. I'll be 59 and 1 month. I'm tired of putting my money in my 401k so that I can watch it fall $17,000 in 2 weeks. I feel stuck because I can't do anything until I'm 59 and a half, so I am barely investing in my retirement now. People say, don't get out the market will come back, but I don't think they understand that how long do you wait for it to come back, till I'm 80, that's just so ridiculous sounding to me. Where are you located at?
Although I believe that a max funded IUL can be a good thing if they live up the illustrations, I don't fully believe his hype until I see a real life statement from someone who has been in one of these for at least 10 years. No I am not from the "whole life camp". There are so many other videos of so called gurus hyping whole life as the better vehicle for max funding and do not necessarily believe them either. I am very down on insurance companies these days as one of my fixed index annuities participation rate in the index was lowered which they can do as well as lower the caps in the IULs. Just hope no one gets burned if they invest in these products this guy is hyping up.
Whole life isn't better...but it's better than like a 401K or IRA. You still get the tax free growth and tax free loans. Just not as flexible on premiums and not BASED on the market. Still can be a very good earner.
You can also roll out to a Fixed Index Annuity .. no loss /zero floor income for life and even have a death benefit for your family.. although the annual proceeds are taxable. IUL is still my go to for non roll over especially with free Living Benefits.