David breaks down the 5 biggest IUL mistakes people make and how to avoid them.
He starts the conversation by explaining the impact IULs can have on tax-free retirement when used correctly.
Mistake #1 – Getting an IUL through the wrong company. David highlights what to look out for before settling on an IUL provider.
Mistake #2 – Getting the wrong IUL product. You could have the best carrier in the world, but if you choose the wrong product, it’s all for nothing.
Mistake #3 – The right advisor. You need an advisor who understands what it means to build a balanced, comprehensive approach to tax-free retirement – and, most importantly, will be in business for the long run.
Mistake #4 – Improper funding. David explains that IULs work best when you fund them religiously and keep them until death.
Mistake #5 – Making an IUL the only component of your tax-free retirement strategy. According to David, your goal is to make IULs one of four to six streams of tax-free retirement income.
Mentioned in this episode:
David’s books: Power of Zero, Look Before Your LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code
PowerOfZero.com (free video series)
@mcknightandco on Twitter
@davidcmcknight on Instagram
David McKnight on YouTube
Get David’s Tax-free Tool Kit at taxfreetoolkit.com