Calvin, I found your post interesting.
Creating debt for investment can be profitable, done right. I must say though, when it comes to life insurance, I prefer straight term insurance. It's cheap and serves my goal, which is to rest easy and know that my family is taken care of should I keel over.
That's all I have ever wanted from Life Insurance, but it does makes sense to use it as a tool for savings if one finds a good way to do it.
I believe the best savings one can make is to invest in one's debt. I mean, is debt really necessary? If it serves a profit purpose, it could be a wise move, but otherwise, life without any debt is the best. I've copied this extract from one of my websites:
Quote:
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Tax Free Guaranteed Profits
Sometimes people look everywhere but in their own backyards, so to speak, when it comes to making a profit. For example, if you are in debt, the first investment to consider is in your own debt. It is the best and safest investment you can make, with a guaranteed tax-free result!
Before you put money into various online and offline investments, why not crunch some numbers in relation to your own debt? If you don't have any credit card, mortgage, department store cards or loan debt, stop reading this and I congratulate you!
But if you have any debt at all, read on...
Click here to calculate to calculate how much you can earn just by increasing your payment on any one of your debts. When your debt is paid off, only then look elsewhere. Invest in your debt first, and you invest in yourself.
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The only way I try to keep ahead of money matters is to stay out of debt first, and only then focus on investment for profit.
It seems weird to me that people who owe big time on credit cards and loans shop around for investments that will pay them xx percent daily or weekly, when they would do well to put that money to better use in paying off their debt first: pure, tax free profit.
HeyJude