If you’ve never heard of a Life Insurance Retirement Plan, or LIRP, you’re not alone. Experts estimate that as few as one in 1,500 Americans have heard of LIRPs, which means that a large segment of the population is not getting the most out of their retirement savings. If you’re a member of this majority, and you’re in the Hunterdon County, Mercer County, Middlesex County, Somerset County, Burlington County, or Camden County areas of NJ, or the Bucks County, Montgomery County, Northampton County, or Lehigh County areas of PA, you can learn about this retirement investment plan here at Secure Retirement Strategies.
LIRPs may be new to you, but they’ve actually been around for decades. In this episode of our podcast, we discuss the history of LIRPs, from their introduction into the tax code as the 702(j) Retirement Income Plan to their widespread use among many of America’s wealthiest and most powerful people. The episode is called “Ronald Reagan Had a LIRP?” (Spoiler alert: You bet he did!)
LIRPs have been around since 1986, but many people still don’t know how beneficial they can be. LIRPs offer the benefits of life insurance, while also making it possible to earn life-long income. Even if you can’t invest hundreds of millions of dollars into one the way Warren Buffet has, you can help pay for healthcare costs with long-term care, without the risk of paying for care you may not need, a risk that comes with traditional long-term care plans. Plus, you can provide for your loved ones after you’re gone by leaving tax-free income to your chosen beneficiaries.
Revealing the secrets of LIRPs is our job!
If this is your first time hearing about LIRPs, your first instinct might be to assume that they’re too good to be true. But with the proper planning, you can do what countless individuals and corporations (including Johnson & Johnson) have done: cash in on this underrated product.
At SRS, our retirement planning company has helped countless people from Lehigh County, Bucks County, Montgomery County, Northampton County, Hunterdon County, Mercer County, Middlesex County, Somerset County, Burlington County, and Camden County reap the benefits of LIRPs. (You can hear what they have to say about us in these testimonial videos). When it comes to LIRPs, your most important asset is education. We can answer all of your questions and create a personalized strategy that will help you create a financial future for yourself that’s tax-free and insusceptible to the unpredictability of the stock market. To get started, contact Secure Retirement Strategies today.