And I’ve been attacked ruthlessly for that by the Wall Street fat cats who always get paid – whether we win or lose.
But the real story here is Benna’s admission that he has, in his words, “put most of my money” into the high cash value, dividend-paying whole life policies most commonly known as Bank On Yourself-type plans.
Benna says these plans avoid the dangers that traditional retirement plan accounts face. Another reason he likes this type of plan is because of its tax advantages.
If you’re interested in the back story of how Ted Benna came to reveal all of this in an interview, read my blog post about the “501(k) plan”.
I think you’ll also find this article, 6 Reasons Your 401(k) is a Scam, eye-opening.
Wall Street has been extremely successful at getting us to buy into 401(k)s, IRAs and similar government-sponsored retirement accounts lock, stock and barrel. Most people have little or no savings outside of these vehicles, according to the Federal Reserve Survey of Consumer Finances.
But the chorus of experts warning of the dangers of 401(k)s and IRAs keeps growing.
Don’t put your head in the sand – find out TODAY how the Bank On Yourself concept can bring true lifetime financial security to you and your family. Just request your FREE Analysis here, if you haven’t already.
Do it right now, while you’re thinking about it. Don’t make the mistake of waiting until it’s too late.
Where does Ted Benna say he favors whole life insurance over 401k’s? I can’t find anything — interviews, articles, etc — that supports the title of this article. I found an interview in which he states that most people should take advantage of 401k’s.
Benna said this in a lengthy interview he did with the Palm Beach Research Group.