Episode 342: Why Does the Incoming SEC Chair Paul Atkins Have 54 Life Insurance Policies?

In this episode of the Power of Zero Show, host David McKnight addresses the claim that sees Paul Atkins owning 54 life insurance policies for an astounding 10% of his $327 million net worth. Someone may ask themselves why someone with such a massive net worth would own so many life insurance policies…and even why someone who has equity in Chinese tech giant Alibaba, holdings in cryptocurrency, and stakes in venture capital firms would also want their wealth growing in cash value life insurance policies. Looking at Atkins, who’s President Trump’s nominee to chair the Securities and Exchange Commission, can help understand how the ultra-wealthy view taxes and wealth accumulation. One possibility could be that Paul Atkins may have exhausted all of the usual sources of tax-deferred and tax-free growth available to him through government-sponsored retirement plans.  Something worth remembering: Cash Value Life Insurance policies don’t have any income threshold, and they have no contributio...