RED BANK, N.J. – The upheaval of 2020 has upended many financial plans, causing people to reassess their retirement strategies.
More uncertainty lies ahead in 2021 with regard to COVID-19 and its effect on the economy. In this unstable setting, keeping a retirement plan balanced is essential, but many people are missing an important piece – a whole life insurance policy, John Smallwood, president of Smallwood Wealth Management and author of “It’s Your Wealth – Keep It: The Definitive Guide to Growing, Protecting, Enjoying and Passing On Your Wealth,” said.
“The key to a successful retirement plan is having beautiful balance in it,” Smallwood said. “A whole life insurance policy is the lynchpin in a balanced plan. With 20% to 30% of your net worth in life insurance