A question that comes up regularly on the 3 Dimensional Wealth YouTube channel is one in which viewers are asking Doug Andrew for advice on what their options are when dealing with lump sum money. If this is a question that’s crossed your mind, you’ll appreciate the insights that Doug has to share.
Also in this week’s episode, Doug takes time to share a favorite holiday gift traditions that your family will find easy, fun and memorable.
If you’re serious about teaching your kids or grandchildren how to be wise stewards of their money, it’s idea you may find valuable. It’s also a thoughtful and effective way to give the kinds of gifts that will be cherished and that teach a valuable and lasting lesson.
CHECK OUT THIS SNAPSHOT OF JUST SOME OF THE CONCEPTS DOUG COVERS IN THIS EPISODE:
- What’s the most important thing to do when you receive a lump sum of money? Doug explains how the key to accumulating authentic wealth is found in learning how to set money aside and keep it set aside.
- Why should you focus on earning a predictable rate of return on your money? Learn how a solid, predictable rate of return, combined with compound interest pays off in major ways down the road.
- Is tax-free accumulation an essential part of any serious planning for a brighter future? Doug explains his favorite savings vehicle–the LASER fund and spells out what this acronym means.
- What mistake do widows and other recipients of life insurance death benefits make at the recommendation of well-intended financial planners? Doug describes the most common mistakes people make and what they could do differently.
- Is there an advantage to not paying off your mortgage upon receiving a lump sum of money? Doug explains out why this may be a mistake and describes some of the alternatives worth considering.
- What advantage is there in establishing credit in your own name rather than simply paying off everything all at once? Discover how this approach can provide you with greater liquidity for those times when you need to access your money and cannot afford to wait.
- And much, much more…
Start by visiting with a IUL Specialist today.
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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment.
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