Month: April 2018

How Millionaires Pay for Life Insurance

In 2016, the University of Michigan and Jim Harbaugh came to an agreement in which Michigan would loan Harbaugh $14 million over the course of several years to pay his insurance premiums. He doesn’t need to repay the loan until he dies, at which point the death benefit will cover the loan, and remaining funds will… Read more »

How to Solve Your Annuity Problem

Fixed Annuities can be cut in half

What Annuity Problem? Let’s use an example to explain. Clara and Thomas have conservatively purchased a fixed annuity with a flat rate of return. Over the years, they have watched their initial investment of $2 million grow to a sizable $5 million. A fixed annuity is tax-deferred, and the principal and interest are guaranteed. Sounds… Read more »

Saving Your Qualified Retirement Plan

Military team working together

In Saving Private Ryan, Tom Hanks played an army captain for a band of men whose mission was to find Private Ryan and escort him safely home (because his 3 brothers had already lost their lives in World War II). Though your qualified retirement plan is not a matter of life and death, it may… Read more »