TAXES ARE GOING UP.

ARE YOUR RETIREMENT SAVINGS PROTECTED?

Download chapter one of Look Before You LIRP to learn more about this transformational tax-free retirement tool.

"You don’t have to love life insurance or even life insurance companies, you just have to like them a little bit more than the IRS."

– David McKnight

BENEFITS OF A LIFE INSURANCE RETIREMENT PLAN (LIRP)

No Penalties Pre-59 ½: Unlike retirement accounts like 401(k)sor IRAs, there is no 10% penalty if you take money out of yourLIRP before you reach age 59 ½.


No 1099s: The money within your LIRP’s accumulation account doesn’t get taxed as it grows like a mutual fund or a CD. This alone can save you thousands of dollars in unnecessary taxes over the course of your retirement.


Distributions Are Not Reportable Income: Remember, if you take money out of your LIRP in the right way, it doesn’t show upon the IRS’s radar as reportable income. In short, distributions are tax-free! Furthermore, it doesn’t count as provisional income which could otherwise cause your Social Security to be taxed.


No Contribution Limits: Unlike the Roth IRA, the LIRP has no contribution limits. The IRS only stipulates that the amount of your contributions be tied to your death benefit. I have clients that contribute $50 a month to their LIRPs, and I have clients that contribute $200,000 per year, and everywhere in between. The money within your LIRP’s accumulation account doesn’t get taxed as it grows like a mutual fund or a CD. This alone can save you thousands of dollars in unnecessary taxes over the course of your retirement.

IN THE LOOK BEFORE YOUR LIRP, YOU WILL LEARN HOW TO:

  • Strategies for reducing taxes, such as converting traditional IRAs to Roth IRAs.

  • The potential benefits and drawbacks of using a LIRP as part of your retirement income plan.

  • The importance of minimizing taxes during retirement

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