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Tax-Free Retirement by Patrick Kelly is reviewed by our guest writer Dan Ruger. 

What could I possibly stay away from, given my pretty busy day, to read about retirement? Tax-Free Retirement seemed like a boring lecture at first glance, but given the shroud of laudatory snippets that haloed the book I opened it and went with it to the end. An emotional roller coaster, an eye-opener, and far away from a novel, the numbers the book gives are daunting as is the realization of financial ignorance. I would look at it as a confrontation between Goliath and David, and David’s not winning. Not now, not ever. However, there’s a way to make David survive and keeps Goliath at peace as long as there is tribute.

And there’s where Patrick Kelly comes in with his book and shows us, the Davids, how to keep most if not all of our tribute from being hoarded by Goliath, the mask that hides Uncle Sam. That being said, you have a pitch for life insurance beautifully laid in front of you. Nothing wrong with that; even more, it is presented as an investment due to the generally unknown tax benefits of a well written life insurance policy. The author – who drew policies of this sort in his career – fairly cautions the reader on getting advice from reputable firms and agents in order to have a well put together plan and not just satisfy the sale figures of some avid business.

How appropriate this is, given today’s economic quagmire. And although the interest rates cited in this book are just memories of a better past, we still have to think of our financial future. All in all, “Tax-Free Retirement” needs to be read; it helps paint the big picture and gives a unique and viable perspective on your financial past, present and future.

Want to win your own copy of the National Best-Seller “Tax-Free Retirement”?  Carp(e) libris reviews is giving one away! 

Rules for Entry:

1.) Just visit the Tax-Free Retirement site and tell me something you learned about Patrick Kelley’s book.  (You may enter once a day – following entries don’t require you to answer the question.) Remember, leave an interesting comment.  If I cannot contact the winner, you might be chosen instead based on your comment.

2.) Email subscribers get an extra entry for as long as their subscription is active.

     Already a subscriber?  Leave me a separate comment on this post to let me know you’re interested in this giveaway.

     Want to subscribe?  Just enter your email address in the “Subscribe” box on the left. (Please make sure to verify your Feedburner subscription by responding to the email they send you. If you do not receive it, check your junk mail. Only verified subscriptions are entered for all the giveaways.)

3.) Blog about this giveaway on your blog with a link back to this post.  Come back and leave me a Comment with a link to your blog post. (If your comment doesn’t show up right away, don’t worry – I may have to approve it first.  My blog might think it’s spam but gosh darn, I certainly don’t!)

4.) I’m feeling Twittery.  If you Twitter a link to this giveaway, come back and comment here to let me know your Twitter name for another entry! (I’m dkmommy if you want to follow me.)

Feel free to do all four to gain several entries to win! You have until midnight EST on Wednesday, February 18, 2009, to enter.

Check out all current giveaways for both my blogs here.

120 Comments

  1. That it became a national best seller

  2. I learned that this book rocketed to the National Bestseller status in just a few short months.

    Thanks so much for this give~away! : )))

    leahita[at]gmail[dot]com

  3. I also subscribe! : )))

    leahita[at]gmail[dot]com

  4. I noticed that it was geared toward insurance agents, and it would be interesting to see what the win-win situation is there. Thanks!

  5. Tweeted! choochoo428

  6. my wednesday entry

  7. Its a best seller.

  8. subscriber

  9. I learned that you can order the book for $19.95.

  10. I subscribed by email.

  11. The fact that the book became a best seller in less than five months says a lot about the interest in Permanent Life Insurance and “beyond the death benefit”. The book provides a “plain English, simple to understand explanation of the superior benefits of permanent life insurance” to both the professional insurance agent and their clients. I would love to get my hands on a copy of the book!

    [email protected]

  12. Nice piece in the blog area about the “trickle up effect”

  13. I don’t trust this guy…

  14. I agree with you, Mike. There is no tax-free anything in this country. And you should know that anything tax-related that is an “easy read” is too good to be true. People! Go to the SEC website and learn about annuities.

  15. how can I enroll for the workshop in Tampa on 9/17/09. I believe it is sponsored through MCC, but I can’t enroll because of access codes??????????????????????????

  16. Kelly explains that there are alternative ways to plan your retirement. The traditional ways have your Uncle Sam with his hand out and Kelly’s strategy is to pay tax now on your seeds and not on your harvest,(retirement). His method is Universal Life, my concern is the older you get what is the cost of the death benefit yearly and will this tap out the cash value?

  17. I loved this book. Not only did it explain exactly why and how the money you can save for retirement is truly tax-free (and yes, thank God there still is something having to do with saving your money that is tax-free!), it was explained in very down-to-earth, laymans terms. Everyone can understand it! Even the non life insurance agent! I have recommended it to so many, and use it in my client consultations too! Thank you Patrick – you have helped so many, and will continue to do so. Pam Prizant

  18. I had the opportunity to hear Patrick Kelly speak at a convention just this last weekend and it was enough to make me not buy his book. As an insurance agent I found his presentation to be very one sided and without question geared towards sales and how much more an agent can make by selling that product. The comparison between renting and owning is absolutely RIDICULOUS. He makes it sound like you could rent or own your policy for the same amount of money….well as I can personally sell both products I can tell you that renting is obviously FAR cheaper as you have to overfund a UL by quite a bit to make it work the way he describes. Let’s say my rented (term) policy costs me $50 per month and my owned (UL) policy costs me $450/month. By renting, would I still not “own” my other $400/month? Could I not (in Canada) put this money in a TFSA (TAX FREE savings account and have a “Tax-Free Retirement”???

    Don’t get me wrong, I believe in UL products, in the right situation and I am sure he has a lot of valid points. However, when comparing the different products out there, make sure you get a fair comparison for any strategy you are going to invest in. From what I saw, his presentation, and his book I am guessing, was very one sided…designed to sell UL, and convince new agents to sell UL without making the proper comparisons. The way I see it, if a new agent who does not take the time to look at the numbers in every aspect, sees his presentation, or reads this book will just be blinded by the $$$$ and will recommend a product based on his pocket book, and not always what is best for the client!

  19. This book is one of the best resources for education on how the average consumer can protect and build their wealth. I encourage all of you to purchase the book.

  20. You are really missing out. This is a fabulous book and I too recently heard him speak. It totally makes sense.

    If you are licensed to sell life insurance and know the facts, you would know that you are not withdrawing the cash value….you are loaning against the policy tax free at a lower rate than you are returning with an indexed UL, AND you still have the life insurance. It is a win-win for the person needing income, and the family in case of death. The death value is also going up in most cases over time, unless of course there have been quite a substantial amount of loans.
    This is truly and great concept.

  21. Great advice for retirement, I use his book in my practice. My twitter name is http://www.twitter.com/TheWic