Are you looking for ways to accelerate your investment returns? If so, then utilizing your whole life insurance can be a good start. In this episode, certified financial planner, best-selling author, and the owner of the Chicago-based, Lake Growth Financial Services, Mark Willis, will tell us the ways you can bank on yourself!
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Mark shares the four reasons why you need a whole life insurance policy: it is tax-free access to cash, it is the cash value that grows on a guaranteed basis, it is life insurance, and its capacity is there for you to become your own source of financing. Mark details how whole life insurance is a long-term wealth builder and why almost all wealthy people have this. Tune in and learn how you can use your whole life insurance to grow your wealth!
Key Points From This Episode:
- Mark talks about his specialization in building true wealth.
- Life insurance is a compelling parking spot for your cash.
- What is a whole life insurance policy?
- Mark gives four reasons why you need a whole life insurance policy.
- What are the benefits of utilizing whole life insurance as a vehicle to accelerate the returns of your investments?
- What are the possible downfalls of using whole life insurance to accelerate investment returns?
- Who is a candidate for implementing the whole life insurance strategy?
- Is it possible to structure a policy where you can be able to access it to use its cash value on an upcoming deal?
- What are the risks that people should know about the whole life insurance policy?
- Is it possible to have tax-free wealth?
- The three words that relate to the U.S. Income Tax Law: buy, borrow, die.
“Life insurance is a very compelling parking spot for cash in between your deals, in between your apartment purchases, or anything else that you need to buy in life. And, you know, we’ve got to buy stuff. Life just means you gotta buy stuff and how you buy stuff matters.” [0:03:04]
“If you’ve got a capacity to save, if you live within your means, and you desire to see accumulated wealth in a tax-favored environment, then you probably should explore this (whole life insurance) option with a competent professional.” [0:12:18]
Links Mentioned in Today’s Episode:
About Mark Willis
Mark Willis is a man on a mission to help you think differently about banks, Wall Street’s abuses, and financial uncertainty. After graduating with six figures of student loan debt, Mark discovered a way to turn his debt into real wealth while watching everyone lose their savings in 2008. Mark is a certified financial planner, best-selling author, and the owner of the Chicago-based, Lake Growth Financial Services. Specializing in building specialized financial strategies, Mark has helped hundreds of his clients take back control of their financial future. You can hear some of his strategies on the Not Your Average Financial Podcast™, a show that he co-hosts.
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