Traditional government qualified savings plans, designated for retirement, are not effective any longer. In reality, you lose more money in the so-called tax sheltered 401(k), than you would with a private retirement plan. As the average 401k balance has been cut in half, Americans are questioning the security of traditional financial planning in the market through stocks and mutual funds. At the same time, wealth is fading quickly for many current retirees.
If you are between the ages of 20 and 40, by the time you reach the age of 60, Social Security benefits for all retirees could be cut by at least 26% and will continue to be reduced in the subsequent years (Social Security Trustee 2006 OASDI Report).
One of the primary benefits of developing your own private retirement plan is that the savings or cash inside your private retirement plan is 100% liquid and can be withdrawn for any reason at any time without any penalty or tax. It’s for this very reason that banks hold 20%-30% of their liquid capital inside similar type plans. That’s tens of billions of dollars in bank capital being saved, not in traditional tax shelters, but rather in something quite different from the norm.
The following article outlines the details that you otherwise would not know – even if you try to read between the lines of your 401(k) plan. Paradigm Life Insurance Agency is committed to teaching you the proper information so you fully understand how this private retirement plan works.
A Wealth Maximization Account is the backbone of The Perpetual Wealth Strategy™