I Feel Shame

As a wealth strategist I work with individuals and families to improve cash flow and build significantly greater long term wealth.  

The problem is I have been overly focused on one strategy in particular.   Real Estate.    Real estate funds, rental properties, rent to own opportunities, & real estate lending. 

Real estate is fun.  Real estate is sexy.  Real estate is up.   But real estate is not the only wealth game in town.

And there is one wealth strategy in particular I have been neglecting.   And that is the strategy of permanent whole life insurance.

The public is not clamoring at my door to talk about insurance.   My golf partners rarely bring it up.   And the party crowd is not exactly drawn to me when I start the conversation.   To quote Woody Allen, “There are worse things in life than death.   Have you ever spent an evening with an insurance salesman?”

But I am here to tell you that Whole Life is fun.   Whole Life is sexy.   And Whole Life is up

  • Whole Life changes your insurance dollars from an expense to an investment

  • Whole Life is an asset class

  • Whole Life takes advantage of the tax free growth inside an insurance policy

  • Whole Life can get all your money back - if you hold on to the policy for 15 years or so every dime you spent can be refunded back to you from the cash value in the policy

  • Whole Life can be converted to the dividend payment feature which will cap the growth but give you a tax advantaged income for life

  • Whole Life values can only go up … never down … once a dividend is paid that dividend buys cash value and additional insurance that never decrease

  • Whole Life is a great asset you can borrow against … once the policy is paid up … you can go to the bank and borrow against the growing cash values to access the wealth in the policy tax free

  • Whole Life gives you choices eg) do a reverse mortgage on your home in retirement and let the policy values grow to access in the late retirement years (80+) or let your kids inherit the policy   OR if stock markets are down, take a tax efficient income from your Whole Life policy and allow your investments to recover

  • Whole Life gives you tremendous flexibility

  • If you don’t own Whole Life, you either don’t understand it or can’t afford it.   

    And for most it’s the “don’t understand it”.      If you are saving money in any fashion (contributing to TFSA, RSP, paying down mortgage balances) you can afford Whole Life.    And you might be surprised to see that Whole Life may be a better option for your investment and savings dollars that the choices you are currently making.  

    You should find out.   Cause we all need a little more fun and sexy in our lives!