Rent To Retirement: Building Financial Independence Through Turnkey Real Estate Investing
Ep 195 - Leveraging Your Life Insurance to Supercharge Your Investments | with Chris Reid
Sep 25, 2023
Chris Reid, a guest specializing in leveraging life insurance for wealth building, joins Adam Schroeder and Zach Lemaster to discuss how people can use their life insurance as part of their long term wealth building strategy. They explore the benefits of using life insurance as an investment tool, such as tax-free growth and the ability to borrow money from the policy to invest in real estate. The podcast also covers the advantages of leveraging life insurance for tax-free growth and financial stability, as well as using life insurance policies to fund investments without traditional repayment.
33:58
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Quick takeaways
- Cash value life insurance can be leveraged as a source of tax-free money for real estate or other investments, providing individuals with the ability to create their own bank account.
- Premium financing is a strategy that allows individuals to accelerate the growth of cash value life insurance by borrowing money from a bank, contributing to the policy, and earning interest on their own money.
Deep dives
Using Cash Value Life Insurance as a Financial Tool
Cash value life insurance is a hybrid product that can provide both a death benefit and a tax-free bucket of money that individuals can borrow against for their own purposes. This financial tool allows real estate investors to have access to money that they can use for real estate deals or other investments. By building up cash value in the policy, individuals can create their own bank account that they can dip into and pull money out when needed. While there are risks involved in leveraging cash value life insurance, the potential rewards can be significant, especially for high-income individuals who are looking to create tax-free wealth and diversify their asset portfolio.
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