Missed Fortune Super Blog

A Savings Vehicle That Makes All the Difference

Missed Fortune – Cut Back, or Spend More?

Posted on | November 10, 2009

Either Way, Protect Yourself and Your Future

What happens when financial challenges hit? We have two choices: We can spend less, or we can earn more.

What has the government done with its recent financial challenges? Rather than cutting back, it’s chosen to spend more.

In fact, we’re looking at an estimated deficit of $1.8 trillion this year alone, which will be quadruple last year’s deficit.

taxpayersplea 200x300 Missed Fortune   Cut Back, or Spend More?With this kind of spending, the government will need to generate more revenue to make up the difference.

And how does the government generate more? One of two ways:

  1. The government can print more money (which causes inflation).
  2. It can take the money from us in the form of higher taxes.

We’ve got to face the reality that taxes are likely only going up, not down, in the future.

And it’s also important to realize that your money is worth now more than it ever will be (because of inflation), and that you are likely in the lowest tax bracket you will ever be in (because of several factors, including the likely waning of tax deductions as your financial situation changes in the future).

So what can you do to protect yourself?

You can start by repositioning money out of your taxed-as-earned (like CDs or money markets) or tax-deferred savings vehicles (like 401(k)s and IRAs), and put your serious money in maximum-funded tax-advantaged insurance contracts.

These are the only savings accumulation vehicles where your money:

  1. Accumulates tax-free
  2. Can be withdrawn tax-free (even before age 59 ½ – without penalty)
  3. Transfers to your heirs income tax-free when you pass away

Find out more and begin now to empower yourself, and your financial future.

Isn’t it time you became wealthy?

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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