09-22-2016, 09:17 AM
Minus home equity and cars etc I'm ahead of schedule for the 40 mark, but current liquidity is only part of the plan. Aside from the Roth 401k, I'm putting about $600/mo after tax into an investment grade life insurance policy. It builds cash value on top of the face value in 5 year lumps and multiplies in blocks. At 65, I can withdraw penalty AND tax free about $115k per year until I die, the rest would go into my estate when I do pass away.
So yeah that doesn't show up as a liquid asset other than a relatively small amount of additional cash value but I'm right at the first big 5 year jump. Definitely a long term play but a really awesome legal tax haven
So yeah that doesn't show up as a liquid asset other than a relatively small amount of additional cash value but I'm right at the first big 5 year jump. Definitely a long term play but a really awesome legal tax haven
Posting in the banalist of threads since 2004
2017 Mazda CX-5 GT AWD Premium
Past: 2016 GMC Canyon All Terrain Crew Cab / 2010 Jaguar XFR / 2012 Acura RDX AWD Tech / 2008 Cadillac CTS / 2007 Acura TL-S / 1966 5.0 HO Mustang Coupe
2001 Lexus IS300 / 2004 2.8L big turbo WRX STI / 2004 Subaru WRX / A couple of old trucks
2017 Mazda CX-5 GT AWD Premium
Past: 2016 GMC Canyon All Terrain Crew Cab / 2010 Jaguar XFR / 2012 Acura RDX AWD Tech / 2008 Cadillac CTS / 2007 Acura TL-S / 1966 5.0 HO Mustang Coupe
2001 Lexus IS300 / 2004 2.8L big turbo WRX STI / 2004 Subaru WRX / A couple of old trucks