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Whole Life Insurance
The Truth about Whole Life Insurance
Is whole life an obsolete product or an Ultimate Wealth Building Strategy?
If you listen to the financial celebrities, most will tell you that whole life insurance is a lousy investment. Dave Ramsey and Suze Orman (just to name a few) have made a career out of telling people to never buy whole life insurance, buy term and invest the difference and put all your money in the stock market to save for your retirement.
All that so-called good advice is in spite the fact that if you invested in the S&P 500 for the last 12 years, your money wouldn’t have grown at all. And if you factor in inflation over that period of time, your nest egg would be worth much, much less.
Wall Street’s Dirty Little Secret
For years, financial celebrities and Wall Street have been telling Americans that the road to prosperity and a secure retirement is paved through investing in the stock market. But their objective has never been to make your retirement secure. Their goal is to sell advertising and airtime for Wall Street Firms.
You Can’t Deny the Facts:
- Wall Street lost more than 45% of the typical investor’s money – Twice – over the last 10 years
- The typical mutual fund investor has only managed to eke out a 3.83% annual return for the past 20 years, outpacing inflation by a mere 1% per year according to DALBAR¹
- The top performing mutual fund over the last 10 years had an annual return of 18% yet the average investor in that fund lost 11% over the same time period according to a Morningstar survey.²
Americans have been brainwashed into thinking that they must risk their savings in order to retire securely. If you’re like many Americans who have been following the conventional wisdom and you don’t know what your retirement plan will be worth when you retire, that’s not planning, it’s gambling.
There is a Better Way
Whole life insurance is one of the oldest forms of life insurance and it is often misunderstood. It is not an obsolete, old-fashioned product as some believe. It is certainly not a “rip-off” as many financial celebrities will have you believe. Over time, whole life has been proven to be a secure investment.
Owning whole life allows you to:
- Never miss a single beat while growing your retirement fund
- Become your own source of financing by borrowing tax free from your policy
- Have a financial safety net to see you through challenging financial times
- Create an emergency cash reserve
- Grow your money tax-deferred and keep it out of the hands of the IRS
- Reduce or eliminate debt and increase your savings
- Leave a legacy for your loved ones
- And much, much more
True financial security comes from knowing you have a solid foundation and that you have your savings in a plan that goes in only one direction – UP.
If you’re ready to get started or you would like more information about the best kept secret on Wall Street, fill out the form below.
¹ DALBAR’s 2011 Quantitative Analysis of Investor Behavior
² Best stock fund of the decade, Morningstar research