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id="8ca1">I told him it was dumb for 2 reasons:✅ 1) He would be leaving them taxable money rather than <a href="https://readmedium.com/54-year-old-with-a-laddered-tax-free-retirement-a-1-5m-tax-free-legacy-bc51dbe3d40e">tax-free money</a> (which could cause tax problems for his kids).✅ 2) He could leave them $2M way cheaper. 😏He wasn’t at all a fan of life insurance until we talked about how it could help him achieve his goal\dotsFirst, I showed him a <a href="https://agents.ethoslife.com/invite/a80ad">$ 2M life insurance policy</a> that he could buy at age 65 (that was guaranteed until age 95)The premiums were $27,000 per year\dotsBut it gets better.If he lived another 20 years (which was more than his life expectancy) he would only put$ 540,000 into the policy, but his kids would get $2M\dots completely tax-free‼️Also, if he ever passed away in that time period the kids would also get the$ 2M guaranteed. 💰But, I suggested him <a href="https://readmedium.com/the-4-types-of-annuities-the-big-bad-evil-annuity-companies-sell-921383f95bba">purchasing an annuity</a> to pay the premiums on the life insurance policy…What what?!<p id="256e

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">Well, I found an annuity that made payments of $27,000 per year (guaranteed forever) that would only cost him$ 350,000 today…👏So he could use the annuity payments to fund the premiums for the life insurance policy.Doing this, he would never have to worry about paying premiums and his kids would each have a guaranteed $1M when he passes away.How’s that for leveraging your money for a <a href="https://readmedium.com/why-you-should-never-die-with-money-in-your-ira-8dc570236a7b">tax-free transfer</a>!?The best part was that it <a href="https://readmedium.com/2-crucial-reasons-for-an-income-floor-in-retirement-never-outlive-your-money-permission-to-e094310b3b2f">freed up an EXTRA$ 1.65M</a> for him to do everything he ever dreamed of in retirement… ⛵️🍷🏖️☀️Let’s chat 💬😎Connect With Me & Access All My Resources <a href="https://pages.safewealthplanning.com/profile">Here</a>Enjoy this blog? You’ll probably enjoy this one as well: <a href="https://readmedium.com/hold-money-hostage-or-create-guaranteed-income-in-retirement-0eb7f95f1073">Hold Money “Hostage” or Create Guaranteed Income in Retirement?!</a>To your success,Matt</article></body>

Don’t Save Money For Your Kids (give them $2M Tax-free for only $350k instead)

(don’t forget to checkout the video too)

I met with a client about a year ago with $4M in his retirement account that he thought he could easily live off of.

His goal was to only spend half of his money though…

Why would anyone do that⁉️

Well, because he had 2 kids in their 30’s that he wanted to leave $1M each to (nice dad, huh⁉️)

I told him that was a dumb idea.

Luckily he was open minded, and didn’t throw me out of the conference room…

I told him it was dumb for 2 reasons:

✅ 1) He would be leaving them taxable money rather than tax-free money (which could cause tax problems for his kids).

✅ 2) He could leave them $2M way cheaper. 😏

He wasn’t at all a fan of life insurance until we talked about how it could help him achieve his goal…

First, I showed him a $2M life insurance policy that he could buy at age 65 (that was guaranteed until age 95)

The premiums were $27,000 per year…

But it gets better.

If he lived another 20 years (which was more than his life expectancy) he would only put $540,000 into the policy, but his kids would get $2M… completely tax-free‼️

Also, if he ever passed away in that time period the kids would also get the $2M guaranteed. 💰

But, I suggested him purchasing an annuity to pay the premiums on the life insurance policy…

What what?!

Well, I found an annuity that made payments of $27,000 per year (guaranteed forever) that would only cost him $350,000 today…👏

So he could use the annuity payments to fund the premiums for the life insurance policy.

Doing this, he would never have to worry about paying premiums and his kids would each have a guaranteed $1M when he passes away.

How’s that for leveraging your money for a tax-free transfer!?

The best part was that it freed up an EXTRA $1.65M for him to do everything he ever dreamed of in retirement… ⛵️🍷🏖️☀️

Let’s chat 💬😎

Connect With Me & Access All My Resources Here

Enjoy this blog? You’ll probably enjoy this one as well: Hold Money “Hostage” or Create Guaranteed Income in Retirement?!

To your success,

Matt