Episode 249: Jeremy Schneider--All CPAs, CFPs and FInancial Advisors Hate IUL (My Response)

Jeremy Schneider is a financial guru who claims to have retired at the age of 36 with four million dollars. He recently shared an anecdote about a young millionaire who owned around $90,000 in cash value life insurance. The reaction of the host was quite interesting, as none of the other millionaires interviewed for the show brought up life insurance as a means of building or holding their wealth. If you scroll around on social media though, there is a huge number of financial gurus recommending investing in Indexed Universal Life Insurance because of lax legislation that allows the conflation of the insurance product as an investment vehicle. The trouble with Jeremy’s dismissal of the IUL product is that he fails to distinguish between the deceptive practices of unscrupulous insurance salesmen and the product itself. He also makes the incorrect comparison by saying indexed funds outperform the IUL over time, but that’s like comparing stocks to bonds. They aren’t the same thing. If he...