Thread by @roncaruthers

Just helped a young military man set up a tax free retirement plan.

He's 26.

$600 a month.

If he never increases the monthly amount, at age 65 he'll have $1,259,207.

And, tax-free income of....wait for it...

$99,500 a year.

For LIFE.

A couple more notes on this:

I used a properly structured Index Universal Life Insurance.

Key words: Properly structured. So it literally has the least amount of death benefit possible.

We're also contributing to a Roth IRA and he has a TSP.

When he retires from the military at 38, he'll also get about $2,500 a month, and go into corporate or government service.

Somewhere in there, we'll probably add another one of these accounts, get him investing up to the match in his 401k, and invest in some real estate.

But, the advantage that THIS account has is that he has access to the money before he's 59 1/2.

So, he can use the money for:

-a house down payment;
-a wedding;
-Investments;
-Even his own kids's education.

His other accounts will force him to pay tax and penalties.