CHAPTER TEN
Too Good to be True?
A
t this point, you’re probably thinking, “Hm. IUL can elimi- nate the major conflicts in my IRA. That’s great, but . . . ” And you’re not quite sure what the but is about. Maybe it all sounds too good to be true? I’ve talked about IUL as a retirement savings approach to hun- dreds of people like you. I get this question nearly every time: “This sounds great, but what’s the catch?” The truth is, there isn’t much of a catch. Like any financial de- cision, it’s important to work with a qualified professional, and it’s important to make sure the strategy meets your personal goals and needs. That’s why I always encourage good due diligence from my cli- ents. It’s important to ask questions and feel like the answers put you at ease. Here’s the deal: you’re smart. I know you’re smart because peo- ple who aren’t smart don’t make it to Chapter Ten in a book about saving. What do smart people do when they hear about an idea that’s new to them? They Google it. I would, too. Of course, there are detractors from any financial strategy. So, let’s talk about the top concerns you find when you Google “using IUL for retirement savings.”
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