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With great Nation's debt continuing to climb, it is not unreasonable to think that taxes will go up in the future. If you are still investing in tax deferred accounts or if your company is no longer matching your 401(K) plan. I urge you to call me at 888-448-5370. I will assist you in putting together a private 7702 (A) plan. That plan is not tax deferred, but my favorite words TAX FREE.
The first “why” someone should consider an IUL plan instead is easy -- taxes. The National Debt -- except for WWII -- is at an all time historic high while income taxes are near an historic low. Especially when you consider that this is the first time the U.S. has gone to war on credit without raising taxes. Instead we actually lowered taxes! Also, the largest generation in the history of the world (78 million Boomers) started retiring this year -- yet Social Security is already broke. This year Medicare for the first time is taking in less revenue than it is spending, and this is projected to occur with Social Security in 2020. Ask anyone what they think taxes will do in the future and they always say “go UP!” Guess what - Congress last year voted to not extend the Bush tax cuts after 2010 (they just didn’t tell anyone) -- they will be going UP!