To determine what retirement plan you should choose, you first need to establish a financial profile that determines your effective tax bracket and includes a risk tolerance assessment. Based on that information, you need to consider whether your retirement plan should be qualified or non-qualified. For example: If you select a qualified plan, does your employer sponsor a 401(k) and matching contributions? If not you may want to look at individual qualified plans like Roth IRA or traditional IRAs.
If you don’t like some of the restrictions of qualified plans, you may want to investigate cash value life insurance like Participating Whole Life, Current Assumption Universal Life, Indexed Universal Life and Variable Universal Life. Product suitability needs to match up to the policy owner’s financial profile and risk tolerance. The policy design is critical to the cash accumulation, using the lowest cost of insurance option that complies with TAMRA.
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If you don’t like some of the restrictions of qualified plans, you may want to investigate cash value life insurance like Participating Whole Life, Current Assumption Universal Life, Indexed Universal Life and Variable Universal Life. Product suitability needs to match up to the policy owner’s financial profile and risk tolerance. The policy design is critical to the cash accumulation, using the lowest cost of insurance option that complies with TAMRA.