Comments on: Tax-Free Retirement by Patrick Kelly – Book Giveaway

By: Katherine Wichmann Zacharias

Katherine Wichmann Zacharias — Tue, 11 May 2010 19:23:16 +0000

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

By: Vanessa

Vanessa — Mon, 03 May 2010 20:31:52 +0000

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.

By: Paul Powers

Paul Powers — Mon, 08 Mar 2010 21:13:20 +0000

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.

By: Kevin

Kevin — Fri, 05 Mar 2010 02:50:28 +0000

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!

By: Pamela Prizant

Pamela Prizant — Sun, 06 Dec 2009 08:52:48 +0000

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

By: Doug Durkin

Doug Durkin — Fri, 09 Oct 2009 18:15:26 +0000

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?

By: Jim Gilmour

Jim Gilmour — Tue, 15 Sep 2009 18:32:23 +0000

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??????????????????????????

By: Sandra

Sandra — Thu, 20 Aug 2009 16:55:31 +0000

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.

By: Mike

Mike — Mon, 27 Jul 2009 23:56:36 +0000

I don’t trust this guy…

By: Chris Huchro

Chris Huchro — Mon, 02 Mar 2009 20:04:06 +0000

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