The Life Insurance General, Richard Wesselt Shares Some Tips On Safe Secure Planning When A Child Comes Along
Many times in the office we will have a meeting with a young couple who is about to have or recently had a baby. Most new parents we see in the office are facing a situation similar to this: Typically there is one or two student loans, a house payment in the form of rent or a mortgage, one or sometimes two vehicle payments, and another bill for daycare.
This puts tremendous pressure on a young couple to start accumulating for their child’s future, which is why we will work closely with a couple on building sound savings habits, by putting away money on a systematized basis for the baby’s future.
Unfortunately for some people, that’s become more challenging. If a couple isn’t able to save money in the first five to six years of a child’s life, for post-high school education, college or trade school, it becomes difficult to save the intended amount. If you lose the first 5 years on an 18 year model, the miracle of compounding is almost impossible to achieve. That means starting at birth, or shortly after, becomes extremely important a safe, secure plan.
One of the vehicles of choice for safe secure planning is an interest-grade, investment sensitive, whole life insurance contact. Some of you might have seen ads for Gerber Life on TV. If properly structured, a whole life insurance contract allows a client to accumulate money on a rapid basis, without any taxes, whatsoever. Properly Structured the money can be accessed via loans for college funding, trade school, a first vehicle, or a down payment on a house.
In conclusion, many clients have benefited from this type of safe secure planning and the sooner the better, to allow your money to go to work hard for you.
IF you have any questions regarding Safe Secure Planning When A Child Comes Along don’t hesitate to reach out to RIchard Wesseslt, The life Insurance General.