More and more people are moving into Roth IRAs because of the favorable tax treatments. Although Roth IRAs hold appeal, they may not be available for everyone. There is an alternative that offers additional benefits.

Life insurance can offer the same benefits of Roth IRAs:

  • After tax contributions
  • Tax-deferred growth and
  • Tax-free distributions at retirement
  • Wealth transfer tool – both help transfer assets from one generation to the next;
  • Provide a tax-tree legacy

The difference is that life insurance can offer more:

  • No contribution limitation (Roth IRAs are limited)
  • Guaranteed cash value growth (depending on type of policy)
  • Beneficiaries receive tax-free death benefit
  • There are no required minimum distributions

Don’t overlook the power of life insurance in your overall financial strategy. Every case is different, but Roth IRAs and life insurance offer two very effective methods for retirement and estate planning.

I like to say that, just like clothes, there’s rarely a one-size-fits-all solution. It’s important to work with a trusted advisor to determine the best plan of action for your situation.

Let me know if I can be of service.