As a life planner and business coach, I find one of the main things people lack is a basic understanding of financial principles. I wonder- how much easier could their lives have been if they’d been taught these basic facts as children?
What if you could use the magic of compound interest for decades (i.e., a child policy), yet never pay taxes above basis because you take distributions as a loan?
It is not deemed as income, is not subject to required minimum distributions, and will not affect taxation on social security if in a life insurance policy. Death benefits are tax-free as well.
As a parent or grandparent, you can leave a legacy by using the magic of compound interest.
