You Don't Know Jack
Jack is 45 and he just purchased $1,000,000 of Term 20 insurance. He pays $1,930 to the insurance company every year. The plan is to drop the insurance after 20 years. His family won't need it. Mortgage will be paid off. Wealth will be amassed. Children are through their first degrees. And there is little if any working income left to insure as he will be 65.
Jack was really pleased with himself ... that was until I came around.
Everybody has an economy, and I showed Jack what was likely to happen to his. You see he was putting in over $38,000 into his economy ... but if he lived 20 years plus a day ... not one red cent of his money was coming out of his economic model.
It can get worse for Jack ...
Jack gets better with age