Saving For Retirement Myth

I have been in the financial service and life insurance Industries for over 45 years.

My colleagues will be up in arms with what this blogs main focus on retirement savings reality.

What I realize at age 67 from my experience the average person under 50 really does not have to save for retirement the old-fashioned way. I see through my practice that my client's children who passed have inherited enough funds to have a fairly comfortable retirement from both the husbands and wives inheritances.

If a couples inheritance is not sufficient to provide a sufficient retirement income in most cases no matter what they save will not be sufficient doing it on their own in today's cost of living and caring for children and perhaps a parent or two.

I know from experience that perhaps buying a life insurance policy on your parents' lives would be a much more cost-efficient method of saving for retirement then doing it on your own.

Again this is very controversial but in my experience buying a life insurance policy on your parents will net you a higher income at retirement when trying to save it on your own.

Appel Financial is an Independent Life and Annuity firm specializing in Life Settlements.

All My Best:

Saul L. Appel CLU ChFC