Avoid These IRA and Life Insurance Mistakes Now

If you were to do this you would take money from your IRA, pay taxes and if you do it after 59 and a half, then you would take those funds and put them into a life insurance policy. Now what a lot of the marketing messages seem to imply and the sales calls that we've been told about are that if you're going to convert $100,000 out of your IRA, they want you to put the 100,000 every year for five years or seven years, whatever the case is, into life insurance. And in my opinion for most people that's a bad idea because you're putting you're taking something that was fairly accessible and liquid and now you're putting it into a different, totally different state where you can't go get all the cash. You're going to have surrender charges, you're going to have life insurance costs going into it. So just purchasing based on the benefits, they pay it based on the features is not the right way to do it.