There once were two young men who held different philosophies when it came to money. One was a saver; the other was an investor. The saver was slightly more conservative, while his friend always wanted the best and he wanted now. Over the years, when they reached retirement age, the saver had security. He owned, paid for, and had a guaranteed income for his and his wife’s life. They had decided years ago to incorporate the Privatized Family Banking strategy as part of their retirement planning and have a well-designed, high-grade dividend-paying whole life insurance policy, to ensure they had enough tax-free retirement income. Because of their dedication to consistent savings, they had the funds to take care of a long-term stay in a nursing facility if that situation should ever arise. Plus, they had planned to leave a wonderful legacy for their family. Not so with the investor friend. He was deep in debt due to several market corrections, management fees, and taxes. He had little cash and planned on working for as long as possible. The question is, are you a creator of wealth and a saver, or do you love living only for the present, not really thinking about how the cost of longevity can and will affect your life as you grow older? MOST FINANCIAL ADVISORS CLAIM TO HAVE THE ANSWERS, YET THEY DON’T EVEN KNOW THE QUESTIONS!
Tommy L. Ruff
5
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