Over the last month, I’ve been talking to financial advisors who have given me reasons to keep money in a 401(k) fund and not to pull it out even when chaos breaks loose in the economy. About two weeks ago, though, I read the book “Safe Money Millionaire” by Brett Kitchen and Ethan Kap, and heard a different side to the story.
Kitchen and Kap are both in the field of insurance – but not just any insurance. They market cash value insurance plans, and that is the message they deliver in their book – if you put your money into a cash value insurance plan, it is safer than it would be in a 401(k), and you would have access to your money in case of an emergency.
I admit that I am not any kind of expert when it comes to insurance or retirement funds—that’s why I’ve been asking questions and pulling together information, so I can figure it out and my husband and I can decide what would bring us the most benefit. This book is written simply enough that I could understand the concepts and the reasoning behind the advice given. At the same time, it was written intelligently enough that I didn’t feel patronized.
If you visit the Safe Money Millionaire site, you can take a quick quiz that will help you determine at what age you can retire. I haven’t taken that quiz yet – I’m sort of afraid to, to be honest … (I wonder if it ever say, “You can never retire, or for that matter, ever die!”) but I’m going to ask my husband to sit down with me this next week and we’ll both take the quiz. I’m also going to ask him to read the book, and together we’ll see if this is something we want to do.
Making financial decisions can be stressful, especially when it seems that every expert has something different to say. I’m a firm believer in getting all the information you can, and then following your gut. I liked what I read in this book, and will be investigating further, although I haven’t made a solid decision yet as to what course I will take.
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