Secret Secret I have a Secret!
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Have you heard about the secret retirement plan called a 702(j) that the government supposedly doesn’t want you to know about? Here’s why the 702(j) isn’t all it’s cracked up to be…
702(j) plans stink! You may have heard or seen the pitch for President Reagan’s Secret 702(j) Retirement Plan or something called the 770 Account, President’s Secret Account, Invisible Account or Income for Life.
Whatever the name, it’s being touted as a miraculous tax-free account that pays 40 to 60 times more than your bank; you can withdraw from it at any time, without penalty; you don’t have to report it to the IRS; and it won’t drop in value in the event of a stock market crash.
https://clark.com/insurance/life-insurance-702j/
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