Written by — David Shafer
Critics are constantly harping on the reasons not to invest in this or that. Some are calling for the end of American capitalism. So I thought I would give you the reasons why you should purchase an EIUL contract in concise form.
Taxes For most of us, taxes represent our biggest expense. Sales tax, income tax, property tax, gas tax, state tax; the list goes on and on. EIULs are designed to help you avoid some of the biggest taxes you have; state and federal income taxes. I don’t have a crystal ball so I can’t tell you what your tax rate will be when you retire, but I can bet that income taxes will be among the largest tax you pay. With the government running trillion dollar deficits as long as the eye can see, I wouldn’t wait for your federal income tax to go down, but that is just me.
Control The Federal and Wall Street designed retirement plans [401Ks, IRAs, etc.] all have one thing in common. You lose control of your money. That’s right, once you input money into those plans, you have to obey the government’s rules and regulations. If you don’t, the government will take their share. What is so magic about being 59 ½ anyway?
Less than zero means trouble Negative returns are more than just emotionally draining, they are mathematically draining. You have $100,000 invested and the market goes down 50% one year and then goes back up 50% the next. You are even right? Well no, you are not. After the first year your $100,000 investment is worth $50,000. After year two it is worth $75,000. What happened to the other $25,000? It disappeared into the magic of negative returns!
You don’t know when you will die No one plans on their death. Certainly, no one plans to die earlier than their peers. But if you do, owning an EIUL will make sure your heirs get a hold of your wealth and the government does not!
Buffett and Gates are betting on American capitalism Heard either of those folks say anything about the future of American capitalism being on the rocks? Didn’t think so. When the two richest men in the world, folks who got rich from their own brains talk, maybe, just maybe, you should listen. Warren Buffett just made a multi-billion dollar bet on America buying a railroad. He puts his money where his mouth is. So does Gates with huge buys of American companies like Republic Industries. EIULs allow you to invest in a stock index of Americas largest companies [foreign companies too if you want to bet on the rest of the world]. I listen to the folks who have made their money in public instead of the doomsday bloggers who hide behind a computer keyboard or folks who have no history of acquiring huge wealth. I think that American capitalism will continue to produce wealth for its practitioners. Do you?
Call me so we can talk if you agree with me or even if you still have some concerns. 727.804.9271 or dave@shaferwealthacademy.com
BawldGuy Here: Long time readers know this, but it bears repeating every now and then. Anyone who does business with Dave, or any of those I recommend here, should do so knowing there will be no financial benefit coming my way either directly or indirectly. I have these folks as contributors cuz A) They’re ‘slam dunk’ experts, and B) It’s the right thing to do for my clients and potential clients. ‘Nuff said.
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