On this week's new episode of the Our 2 Cents podcast, the guys are recapping Steve's recent appearance on WGN 9 news where he shared helpful tips for tax filing procrastinators. Then they outline 5 useful ways to include life insurance in your financial planning that isn't just about the death benefit. Listen in now!
The Looming Tax Filing Deadline:
- Filing an extension - why it matters if you owe or if you are getting a refund.
- What you need to know now if you plan to use MyTax Illinois to file your state tax return.
- For those who took advantage of the child tax credit payments, how might that impact your taxes?
- Why your large refund is the same as giving an interest-free loan to the government.
- How tax planning is different from tax preparation, and how it can make a huge difference in your overall wealth.
The Many Uses of Life Insurance:
- There are tons of misconceptions about what life insurance can offer in financial planning, which means many investors don't think about it outside of its traditional uses.
- We will cover other ways life insurance can be a critical part of your financial planning, beyond just the death benefit:
- Life insurance for tax-free retirement income
- Life insurance as an alternative to a 529 Plan
- Life insurance for estate planning
- Life insurance for long-term care
- Life insurance as a cash alternative
Getting to Know Steve and Gabriel:
- What is the spiciest food you've ever eaten?
- Do you think we're alone in this universe?
