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indexed life insurance Archives - Wealth for Life

Your taxes are going up. You just don’t know it yet.

Posted by | economy, indexed life insurance, tax strategies | No Comments

It’s only a question of when your taxes will go up, not if.  Here’s what the Washington Post recently reported:

Yet look out over the next 10 years, and it is also hard to find a scenario where the United States doesn’t raise taxes, potentially even on the middle class. The only alternatives may be for the country to significantly pull back on the country’s commitments to seniors and the poor, or to forfeit its global competitiveness.

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How the stock market can make you work an extra 13 years

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Over the last 14 years the markets have hit all time highs three times: March 2000, July 2007, and roughly where we are at now – June 2014.

What if you had turned 65 and decided to retire in the year 2000? As you’ll see in this video – the market ups and downs forced “Joe” – who had planned to work until age 65 – to work all the way to age 78.


To make matters worse, he still faces the same question today, with the markets at all time highs again, just like in March of 2000: What to do now? Read More

The difference between whole life and indexed life policy loans

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Whether you are trying to be your own bank or maximize tax free income, it is important to know the difference between loan provisions in whole life insurance and indexed life insurance. We also discuss what can go wrong with both types of policies. This video is part 2.
 

How policy loans work with whole life insurance and indexed life insurance from WealthForLife on Vimeo.

The difference between whole life and indexed life – video 1 of 2

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What is the difference between indexed life insurance and whole life insurance? Which one is better for income? For guarantees? This video looks at guarantees, flexibility and upside potential of whole life insurance and indexed life insurance. You’ll also see a summary of cash value over time and internal rate of return. This part 1 of a 2 part series.
 

The top three differences between whole life insurance and indexed life insurance from WealthForLife on Vimeo.

100 years of the income tax

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It is tax day! Here are some key takeaways from the graphic below:

  • The gold bar is the tax rate paid by average Americans. The blue bar by the average CEO.
  • There has been much more fluctuation on what high income earners pay vs. the average American.
  • In 1980 income over $80,000 was taxed at 50%!
  • What’s in store for the next 100 years?

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Building income streams Part 3 of 3 – The myth of Be Aggressive

Posted by | annuities, economy, indexed life insurance, retirement income, small business | No Comments

In this final segment we discuss how to take chunks of money you have saved and create income for life. The younger you start this process the better. The great fiction you hear from financial media is that when you are young you need to be aggressive.  This is not based on any fundamentals and not is it true. There is no one-size-fits-all advice. Read More

Building Income Streams part 2 of 3 – Case Studies

Posted by | annuities, economy, indexed life insurance, Inflation, life insurance, retirement income | No Comments

Build income streams you can access before and after age 59.5. Also have multiple sources of capital you can access without restriction (like you will find in 401k/IRA). This can give you better access to your money to handle the ups and downs of life.

In this segment we also go over specific case studies comparing income streams from defined benefit plans and 401ks to tax free income from indexed universal life insurance plans. Successful professionals are increasingly building alternative income streams they can access before traditional retirement age. Read More

Building Income Streams part 1 of 3 – Critical Planning Steps

Posted by | annuities, economy, indexed life insurance, Inflation, retirement income | No Comments

Income planning is not just for retirement. What happens if you want to access your money early and everything you have saved is in a 401k? With the exceptions of emergencies you are stuck until you reach age 59.5 in most cases.

What if you want to go part time or start a business? What if you get laid off and can replace all your income? Having income streams you can access without the government penalties could be a good idea to incorporate in your planning process. Read More

Wealth For Life Radio – The myth of the “Retirement Tax Bracket”

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Topics from this weeks show:

Is there such a thing as a “Retirement Tax Bracket”? No there is not. It is important to plan for and remember that when you take money out of a 401k or IRA, 100% of that withdrawal is counted and taxed as ordinary income. The entire amount counts toward the tax calculation.

If you haven’t planned for the cost of taxes during retirement it could potentially cause you some big problems. If taxes go up you could pay more in taxes. If you need a large chunk of your own money for emergencies or just to use as you choose – you could end going into a higher tax bracket and getting hit with the full force of the U.S. tax coded. You could be faced with tax rates of 25% to 39% depending on your income and withdrawals during retirement. Read More

Creating tax free income with indexed life insurance

Posted by | indexed life insurance, life insurance, tax strategies | No Comments

From one of our live webinars, this is the most complete overview of indexed universal life insurance you will find on the internet. Details of growth strategies, cost structure and case studies. Denver Nowicz is one of the top experts in the nation on indexed life insurance and has been using these in the real world for 15 years.