David - love your materials and your books. We are in the process of initiating a LIRP through Robert Iola who introduced us to your materials. This will now come part of our reduced tax retirement strategy (working on zero, but got a long way to go to get there). Keep up the great work on educating in this area. It really opened my eyes up to a whole new way of retirement planning!
I contacted several life insurance companies. Prudential, NY Life, Northwestern mutual. All their Life Insurance product than can be indexed to stock market index are called Variable Universal Life Insurance, and they are all TAX DEFERRED after retirement age, but NOT tax free. Am I looking into the wrong thing?
Might be a great plan if I was 30 years younger. Make Sure one of these applies to you as far as how long you have to grow your portfolio. If you are a conservative investor and have 20 plus years to continue to invest, it might be a good strategy to take. But not if you are going to have to draw from it and don't have 20 plus years. My thoughts anyways!
Hi David, thank you for putting this strategy together for a potential zero tax retirement. My question is; why do I need a LIRP in my plan if I plan to get a FIA? Doesn’t the FIA provide a tax-free income stream and a death benefit (I assume also an advance on that benefit for LTC)? Is the primary purpose of the LIRP then, just to diversify my tax free income options? Thank you for clarifying!
The LIRP can serve as a bond alternative, a volatility buffer and a way to pay for long-term care. Annuities, while an important part of the plan, don’t provide the same flexibilities.
How about the up front commission on this? I looked at a couple of different carriers and all the first year premium goes to commission. That’s 10%! That’s hard to overcome.
@The Power of Zero Merriam-Webster defines it as "a fraudulent act or operation" High commissions in exchange for some pie in the sky unverifiable future results seem to fall under that umbrella
Love the info-graphics!
Thanks man!
David - love your materials and your books. We are in the process of initiating a LIRP through Robert Iola who introduced us to your materials. This will now come part of our reduced tax retirement strategy (working on zero, but got a long way to go to get there). Keep up the great work on educating in this area. It really opened my eyes up to a whole new way of retirement planning!
Outstanding! You are in great hands with Robert!
Read your book last night. Pretty much finished it in one sitting. So much to think about for setting myself up for the future. Great book!
Thank you! Let us know how we can help.
What planning have you done thus far ?
Love the info David !
Thanks Jerel!
Thanks for the very clear explanation.
I will hit 70 too soon and I am just starting to learn what I need to do to retire...
Subscribed now.
I have your book Look before you LIRP‼️
Nice!
From your book Look Before You LIRP: Why All Life Insurance Retirement Plans Are Not Created Equal, and How to Find the Right One for You
There are certainly some elements of this video that come from that book.
I contacted several life insurance companies. Prudential, NY Life, Northwestern mutual. All their Life Insurance product than can be indexed to stock market index are called Variable Universal Life Insurance, and they are all TAX DEFERRED after retirement age, but NOT tax free. Am I looking into the wrong thing?
Distributions are tax-free if taken by loan.
Might be a great plan if I was 30 years younger. Make Sure one of these applies to you as far as how long you have to grow your portfolio. If you are a conservative investor and have 20 plus years to continue to invest, it might be a good strategy to take. But not if you are going to have to draw from it and don't have 20 plus years. My thoughts anyways!
Thanks for chiming in!
Hi David, thank you for putting this strategy together for a potential zero tax retirement.
My question is; why do I need a LIRP in my plan if I plan to get a FIA? Doesn’t the FIA provide a tax-free income stream and a death benefit (I assume also an advance on that benefit for LTC)?
Is the primary purpose of the LIRP then, just to diversify my tax free income options?
Thank you for clarifying!
The LIRP can serve as a bond alternative, a volatility buffer and a way to pay for long-term care. Annuities, while an important part of the plan, don’t provide the same flexibilities.
This doesn’t seem right. Commission heavy. Returns?
5 to 7% net of fees over the life of the program.
How about the up front commission on this? I looked at a couple of different carriers and all the first year premium goes to commission. That’s 10%! That’s hard to overcome.
Not if properly structured and you plan on keeping it your entire life. Average expenses end up being less than half a percent per year.
Isn't this an Annuity?
No. Most annuities are tax-deferred.
Is this the same as a IUL?
IUL is one kind of LIRP.
@@DavidMcKnight thanks for the response, we are in the process of getting one.. amazing video, getting ur book for sure.
@@UtahHomesOP thanks! Where are you in Utah?
@@DavidMcKnight yes, Salt Lake City!
@@UtahHomesOP awesome! I lived in Draper for a while and my wife is from Brigham City.
It's a scam
Let’s define our terms. What’s a scam?
@The Power of Zero Merriam-Webster defines it as "a fraudulent act or operation"
High commissions in exchange for some pie in the sky unverifiable future results seem to fall under that umbrella