The Wave of the Future in Retirement

Wes White and Rick White Published August 12, 2013 FOXBusiness

“In one illustration, we took a distribution from one IRA over a 5-year period. Each year we deducted the tax first and paid the balance into the investment grade IUL. The result in this type of plan is that the owner turned a taxable $500,000 IRA into a $1.4 million dollar tax-free death benefit to the heirs, free of any government regulation! With proper legal advice about using trusts, a lump sum can be removed from any potential of estate tax.”

Americans Not Juicing up Retirement Savings

Claes Bell Published August 20, 2013

Lest you think Americans are pulling back on saving because they’ve already saved enough, 40% of American households near retirement age have no retirement account at all, according to Federal Reserve data released in 2012.

Among the 60% in that age group (55-64) who have retirement accounts, the median balance is about $100,000, the Fed said. That may sound substantial, but it’s not enough to allow many people to maintain their standard of living throughout retirement, says Gary Koenig, director of economic security at the AARP Public Policy Institute.

“It’s not even close,” Koenig says. “People underestimate what their needs are going to be when they’re older, (and) underestimate how long they’re going to live. I think they overestimate how much a pot of money that they build up in their 401(k) will translate into in terms of your lifetime income.”

Can You EVER afford to Retire?
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