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For Dan Harding
Age
43 years old
Retirement age
70 years old
Qualified Assets
$1,000,000
Non-qualified Assets
$500,000
Retirement Timeframe
20 years
Conservative Estimated Rate of Return
6%
How does RothPLUS work?
Consider the difference in wealth creation by utilizing the strategies below:
There is a difference between tax evasion, which is illegal, and tax avoidance, which is both legal and smart. RothPLUS is an underutilized technique using universal life insurance, which maximizes distributions in retirement by paying taxes at lower rates.
Building Block 1:
The Supercharged Sidedoor Roth—High income workers cannot participate in traditional Roth conversions, given their low limits (around $196k in income). The Supercharged Sidedoor Roth converts qualified retirement funds such as 401(k)s and IRAs into tax- free income by creating a Roth conversion, subsidized by the plan. In other words, the conversion creates a taxable event, but with few out-of-pocket expenses or loss of principal.
Building Block 2:
Life Insurance as a Retirement Plan (LIRP)—LIRPs save money inside a cash value insurance policy which can result in tax-free distributions, and create a tax-free death benefit.
Building Block 3:
Indexing is a method to smooth out volatility and limit stock market losses. Using a Green- Line vs. Red-Line strategy, this crediting methodology caps returns, but has a floor of zero when markets turn negative.
Talk with our advisors to view your real-time illustration in action