Primary Retirement Planning Tool of Choice: 85% of Fortune 500 CEOs Utilize This 😏 #retirementplanning
85% of Fortune 500 CEOs use life insurance as their primary vehicle for their retirement planning 🤔 Here are 5️⃣ easy-to-understand reasons that you should consider doing this same: ✅ No Penalties for taking money out prior to 59–1/2 (complete accessibility) Unlike traditional retirement accounts (401k’s, IRA’s, pensions, etc) there are no 10% penalties for taking money out of #lifeinsurance contracts prior to the recognized retirement age of 59–1/2, like most other retirement plans. ✅ No 1099s (tax-deferred growth) Money inside of these contracts is allowed to accumulate tax-deferred, just like most retirement plans. This allows you to accumulate wealth without having to pay unnecessary taxes year after year. ✅ Distributions are not considered reportable income (no income = no taxes!) Taking money out of these contracts in the right way allows you to fly completely under the IRS’ radar, meaning none of the money you pull out will be subject to income tax (because it’s