By: Steve Savant

Steve Savant — Mon, 21 Jul 2014 18:58:02 +0000

Video Transcript: Hello, everyone, I'm Steve Savant, syndicated financial analyst and host of the weekly online talk show, "Steve Savant's Money: The Name of the Game". I'm answering questions from InsuranceLibrary.com, and the famous question that we get all the time is, "Is the Roth IRA better than a life insurance policy?" Well it is kind of tales of two cities. Many times, if I want to be in two different funds, I can get both funds inside a life insurance contract or a Roth. Roth has limitations to it as far as how much I can put in to it. So some people will buy a Roth, and I think it is a good idea, especially when you are looking at placing basic-interest-rate-earned-annuity in to it, or mutual funds. It just depends on what you are using it for. But life insurance, they don't have the same limitations, and remember, it has a death benefit to it. So when you are looking at it, both of them have to be long-haul in their thinking. They both accumulate tax deferred, and when the money comes out, if set up correctly, it should come out tax-free. It is a great idea, both of them, as a supplementary retirement income play when you are thinking about your retirement portfolio. Well, that is our consumer question for today. If you have any questions, just submit them to www.InsuranceLibrary.com.

New answer on: Is A Roth IRA Better Than A Life Insurance Policy?

By: Steve Savant