How are you creating a Legacy for you and your family?

We pay tons of bills and that money just goes through our hands with very little left over. Just imagine if you could keep every dollar you earn and have it earn compounding interest.

Say you pay $5,000 per month in bills, that's $60,000 per year. If you put that into a policy and draw against it to pay your bills, your money will never leave you. You will also build a cash value that you can use to purchase whatever your heart desires and that money never leaves your policy. And you will do this tax free because loans are not taxable.

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2
NotCreativeEnough
Big Shot
14
Professional Day Ruiner
so what are you trying to sell us and why didn't you read the rules?
SoccerandSales
Big Shot
5
Account Executive
I came here for this comment lol
jefe
Arsonist
4
๐Ÿ
This was my first thought too.
NotCreativeEnough
Big Shot
4
Professional Day Ruiner
if this isn't an obvious pitch then I must be bad at sales.

Also, its a pretty bad pitch at that lol
1nbatopshotfan
Politicker
4
Sales
Life insurance pitch
Sunbunny31
Politicker
3
Sr Sales Executive ๐Ÿฐ
Bad pitch = no idea what's being sold, but knowing it's a pitch.
TheIncarceration
Politicker
4
SDR Manager
Was thinking the same exact thing
KingofGIF
Politicker
1
AE
Well deserved upvote, take my contribution to your rollie
Kosta_Konfucius
Politicker
13
Sales Rep
This is how you create a legacy
Jr7
Politicker
4
AM
Hahahahbasically
coletrain
Politicker
3
Account Executive
Just like the Mongol Empire fell after just a few generations, so do the vast majority of family fortunes.
Kosta_Konfucius
Politicker
2
Sales Rep
Shirtsleeves to shirtsleeves in three generations
Gyro25
Notorious Answer
2
Account Executive
10/10 points from the history nerd in me lol
1nbatopshotfan
Politicker
2
Sales
My favorite map with this in mind shows the spread of dumplings matching the Mongols conquest. Legends
CuriousFox
WR Officer
1
๐ŸฆŠ
I need to see this.
1nbatopshotfan
Politicker
1
Sales
Anything for you @CuriousFox
butwhy
Politicker
1
Solutions Engineer
I, too, love to play Diplomacy.
ChumpChange
Politicker
0
Channel Manager
Just listened to Hardcore History podcast and the Mongol Empire episode was pure metal!
antiASKHOLE
Tycoon
6
Bravado's Resident Asshole
Thanks for the education, but what are you getting at?
braintank
Politicker
3
Enterprise Account Executive
selling life insurance
Gyro25
Notorious Answer
6
Account Executive
"Just imagine if you could keep every dollar you earn".

Ma'am I believe that's called tax evasion.
JustGonnaSendIt
Politicker
0
Burn Towns, Get Money
Just pay us this huge premium and we'll watch it all for you ;)
ADK
Opinionated
2
VC Associate
Well...this is exactly what the rich do, cycle is exactly how you described
butwhy
Politicker
1
Solutions Engineer
No, thanks - too many shoes to buy for that whole savings thing.
Fenderbaum
Politicker
1
Retired Choirboy๐Ÿช•
Just imagine...
JustGonnaSendIt
Politicker
0
Burn Towns, Get Money
AHHHHH Yes, using insurance as an investment vehicle...

Insurance is an inherently inefficient way to create value for yourself and your family. It is primarily a defensive mechanism.

Essentially, you bear a cost (premium) to hedge against something that will be financially destructive to you if it occurs. If you conduct your finances properly you have no need for insurance other than to meet legal requirements where necessary.

How about... don't take out debt. Budget your money so you have headroom to invest. Buy shares in index funds or stocks, or other real assets that pay dividends because of the value they create, and grow that snowball to replace your income / provide for your legacy.

When it comes to legacy, especially in a down market, there are some fun things you can do with trusts to defer taxes and protect your wealth far more effectively than insurance ever can.

Sorry to poop on OP, but insurance is really just extra friction on the economy that allows individuals and businesses to take on more risks than they can actually afford, by paying a fee to someone that hopes to never pay out.

All of the major financial crashes in recent history have essentially been the result of some kind of insurance instrument.
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