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re: Questions regarding IRAs
Posted on 8/6/17 at 9:41 pm to acadianatiger1992
Posted on 8/6/17 at 9:41 pm to acadianatiger1992
You can only contribute $5500 in an IRA?
Just a question - how you get wealthy off of that?
I would look at saving 10-20% of your income in a vehicle that grows tax free, not tax deferred.
Do you believe taxes are going up or down?
Traditional IRAs also can tax 85% of your social security as well.
How much of your retirement do you want to share with the government?
The only plans that are tax free is;
Roth IRA, Municipal Bonds, and A properly structured Cash Value life insurance.
Life insurance is not controlled by the government and there are unlimited contributions to them. If structured correctly your money is accessible in year 1, guaranteed growth, and you can take out loans as non recourse financing to buy real estate and other secure investments...
Something to consider.,,
Just a question - how you get wealthy off of that?
I would look at saving 10-20% of your income in a vehicle that grows tax free, not tax deferred.
Do you believe taxes are going up or down?
Traditional IRAs also can tax 85% of your social security as well.
How much of your retirement do you want to share with the government?
The only plans that are tax free is;
Roth IRA, Municipal Bonds, and A properly structured Cash Value life insurance.
Life insurance is not controlled by the government and there are unlimited contributions to them. If structured correctly your money is accessible in year 1, guaranteed growth, and you can take out loans as non recourse financing to buy real estate and other secure investments...
Something to consider.,,
1
Posted on 8/7/17 at 10:43 am to player711
Sounds like someone works at NWM... That was a great line of questions leading to a high commission product... like it came out of some notes even...
Quick question, exactly who regulates the State Department of Insurance?
Are there any surrender penalties and for how long? How much do you have to put in up-front? Monthly? What is the internal costs associated with it? What's the COI? If you have that much money, why do you need a loan? Is it a net zero loan? What if I lose my job and can't afford the premiums, get a divorce, or the market doesn't perform like the illustration?
Asking for a friend...
Quick question, exactly who regulates the State Department of Insurance?
Are there any surrender penalties and for how long? How much do you have to put in up-front? Monthly? What is the internal costs associated with it? What's the COI? If you have that much money, why do you need a loan? Is it a net zero loan? What if I lose my job and can't afford the premiums, get a divorce, or the market doesn't perform like the illustration?
Asking for a friend...
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