What to do with cash??

I have cash. I'm scared of the stock market. I get nothing from the bank. What do I buy?

A professional baseball player, relief pitcher for a MLB team in the mid-west, had these questions so you're not alone. He was approaching 40, not retired, but he knew he was getting close - he had done what he thought was the best thing during his playing years and put away a great deal of cash in the bank.

His problem was simple: How do I make sure my money lasts me through a very long retirement. A baseball player retiring at 40 is a little different than a normal professional retiring at age 65 or 70, obviously his money needs to last him much longer.

He didn't like the stock market because he had teammates that had been burned and he didn't like the idea of having to rely on a financial advisor to pick and choose the correct portfolio adjustments depending on what was going on in the market.

He always put his money where it was safe. In the bank. He asked GWSP, where do I put the money? CD? Municipal Bond? Real Estate?

We presented him with one option and he loved it. He understood it. It was safe. And he could do it no matter when he decided to retire. He had $10,000,000 saved and we took $2,500,000 and put it to the side to designate it for this strategy.

In the new bank account with $2,500,000 we decided to take $250,000 per year and put it into a Whole Life 10 Pay Life Insurance product offered by a highly rated insurance carrier. This means he would put $250,000 per year into the product for 10 years and then he would never have to fund the life insurance policy again. At the end of the 10 years he'll have roughly $3,300,000 in cash value with a death benefit over $7,000,000.

With an average cash value increase of 5% after year 10, this retired baseball player could take $10,000 to $12,000 per month tax free for the rest of his life.

And the best part - we only used 25% of his savings. Maybe you don't have $10,000,000 put aside - but the strategy works at every level.

Call GWSP for more information. (718) 704-0900.