Ask Terry Questions The difference between a 401k and a IUL

The difference between a 401k and a IUL

By Terry Savage on April 06, 2024 | Financial Planning / Retirement

Is it better to have a IUL or 401k and what is the difference between the two

Terry Says

A 40l(k) is a plan offered by your employer, with tax deductible contributions, often your contribution is matched by the company.

I’m not sure what you’re talking about with IUL — but I suspect some life insurance agent is trying to sell you a universal life policy, which will only help HIS/HER retirement — not yours!
Please write back if I guessed wrong!

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