Not Your Average Financial Podcast™

Episode 111: Should I Do a Bank On Yourself® type Whole Life Insurance Policy or a Roth IRA?

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In this episode, we ask:

  • What has Amanda learned as a sample of one?
  • Who are Brandon and Amanda Neely?
  • What is Mark’s relationship with Brandon and Amanda?
  • If we did something different, what would the results be?
  • Would you like to follow along with the numbers? (See tables below)
  • Would you like to watch this in video?
  • What are Amanda’s numbers?
  • Are agent commissions too high?
  • What would the assets under management fee be?
  • What would the term insurance commission be?
  • What happened in 2008?
  • How much more would the investment advisor make?
  • Why is there a Wolf of Wall Street but no “wolf of insurance”?
  • What happens if you need or want your money prior to age 59.5?
  • What would your heirs receive when you pass?
  • What taxes would your heirs pay?
  • What are the tax considerations when you start using the money?
  • What happens if you get cancer or some other chronic or terminal illness?
  • What happens if you get sued?
  • What happens if you die too young?
  • What happens if you die too old?
  • What happens if the stock market goes down when you’re 36? How about when you’re 60?
  • Which side has guarantees?
  • Is the amount going in each year flexible?
  • What if you wanted to put in more? Or less?
  • What are the tax consequences now?
  • What are the tax considerations before you’re 59.5?
  • How many life insurance policies does the Neely family own?
  • How does the Neely family use their policies?
  • How can you use these specific policies to more effectively pay taxes?
  • Have you seen the webinar on Episode 84 The Past, Present and Future of Paying Your Taxes?
  • Have you heard Episode 87, How to Get Wealthy While Paying Your Taxes?
  • What income could this 35 yo female expect?
  • What is the life expectancy?
  • What is the difference between the term / Roth IRA and the Life Insurance policy?
  • How much does the fee on the Roth IRA become?
  • What about an older person’s strategy?
  • Have you heard Episode 91, Great Problems, Giant Piles of Cash?
  • How are mutual life insurance companies dealing with the low interest rate environment?
  • How do policy loans at 5% interest affect the insurance company’s performance?
  • When is the increase always greater than cost?
  • Would you like Brandon or Amanda to run this comparison for you with your numbers
  • Schedule a Comparison conversation with Brandon or Amanda



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