Go Curry Cracker Forum

Go Curry Cracker => General Discussion => Topic started by: Toofuzzy on July 19, 2022, 10:31:23 AM

Title: Bank on yourself
Post by: Toofuzzy on July 19, 2022, 10:31:23 AM

I have read about various over funded whole life methods where you can borrow funds from yourself  and the various benefits of doing so.

But I can make no sense of it.

If the policy both pays you 6% and charges you 6% ( or charges you more than it pays you ), you eventually have to pay that borrowed money back and pay taxes on that increased amount ( interest ) as opposed to just pulling the money out of savings.

How are these policies better than just buying term and saving the difference.

Title: Re: Bank on yourself
Post by: gocurrycracker on August 28, 2022, 08:47:26 PM

whole life is a scam