Indexed Universal Life (IUL) vs. 401(k)

 Just a little tidbit for @Everyone

When creating your personal retirement plan, there are a variety of tools you can use to fund your long-term savings goals. An employer-sponsored 401(k) is one of them, while indexed universal life insurance (IUL) is another. A 401(k) allows you to invest money on a tax-deferred basis while also enjoying a tax deduction for contributions. Indexed universal life insurance allows you to secure a death benefit for your loved ones while accumulating cash value that you can borrow against. Let’s review the differences between IUL vs 401k. 

What Is a 401(k)?

The earlier you begin planning and investing for your future, the more time you have to accumulate funds and maximize your tax savings.

Planning for retirement can be overwhelming, especially when it comes to taxes. 

A tax-free retirement account or TFRA normally refers to permanent cash-value insurance policies that offer risk protection and tax benefits to individuals. A TFRA retirement account is not a qualified plan, so it doesn’t follow the same rules as a 401(k). But it can offer both tax benefits and risk protection for investors. Breaking down how a tax-free retirement account works can help you to decide if this strategy may be right for you.

What Is a Tax-Free Retirement Account (TFRA)?

Tax-free retirement accounts can be an indexed universal life insurance policy, variable life policy or a whole life insurance policy. They are covered under Section 7702 of the Internal Revenue Code that is designed…

What Are Your Retirement Goals?

What is your plan for retirement? Enjoy the golf course? Travel? Spend time with grandchildren? Keep on working, but purely for fun? In my talks with various individuals, there is immense diversity in how people want to spend their retirement.

But from a financial perspective, I’ve found most people are aiming to achieve one (or often more) of the following four goals. And before you focus on anything else, it is imperative YOU figure out what YOUR GOALS are for retirement.

Avoid Running Out of Money

For many this is their number one goal—and their number one retirement fear. Being forced to turn to your children—or go back to work—during retirement is a source of anxiety for many current and future retirees. Many folks think the key to achieving this goal is very low-volatility investments (e.g., Treasury bonds), but as we will discuss, this is…

Start 2025 strong with these expert-backed money moves to boost your financial health and security.

The new year is perfect for resetting and focusing on your financial health. Whether you’re looking to reduce debt, increase savings, or secure your future, here are some insights that can guide your way.

Here are seven ways to get started.

1. Start With Family Money Conversations