This episode is part of David McKnight’s interview with Mark Byelich, founder and owner of Attleboro Wealth Management.
David and Mark discuss why the money inside a Life Insurance Retirement Plan (LIRP) “bucket” is treated differently for tax purposes and benefits from low fees.
When it comes to life insurance, David recommends “having as little of it as the IRS requires, and stuffing as much money into it as the IRS allows.”
Remember: not all Indexed Universal Life (IUL) policies are created equal.
Starting an IUL is like getting married – it only works if it’s ’til death do you part.
Mark and David touch on the so-called IUL deal-breakers.
David is firm in his view: for LIRPs and IULs, you must ensure a 0% loan is guaranteed in the contract.
David also shares one of the biggest reasons his clients tend to favor an IUL.
Mark Byelich highlights a significant risk that he and his team monitor closely.
David and Mark discuss participating and variable loans, as well as interest in arrears – and David explains why he’s recently taken a step back from a particular approach.
David is a fan of the COMDEX rating, and he explains why, along with one of the Achilles’ heels of life insurance policies.
Mark recommends reviewing your financial plan annually.
David shares why they only do business with companies that conduct daily or weekly sweeps.
Mentioned in this episode:
David’s upcoming book: The Guru Gap: How America’s Financial Gurus Are Leading You Astray, and How to Get Back on Track
David’s books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code
PowerOfZero.com (free 3-part video series)
@mcknightandco on Twitter
@davidcmcknight on Instagram
David McKnight on YouTube
Get David’s Tax-free Tool Kit at taxfreetoolkit.com
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