The ’10/10/10′ Formula of Savings Rescues Many Overstretched Family Budgets
Executive Summary: Most modern Americans overspend, assume too much debt, and fail to invest wisely for retirement. Tim Austin, a leading proponent of ‘old-fashioned’ spending and savings strategies, recommends a time-tested 10/10/10 financial formula: saving 10% of gross income for the near-term; 10% for the mid-term; and setting aside 10% for the long-term. Austin’s favorite savings tool is specially-designed dividend-paying whole life insurance policies such as those structured by Bank On Yourself’s specially trained and authorized advisors.
By Pamela Yellen and Dean Rotbart
Even back in 1975, the year comedian Woody Allen wrote, directed and starred in the movie Love and Death, the perception of whole life insurance as a savings instrument designed for fuddy-duddies and masochists was already commonplace.
There are some things worse than death”
…deadpans the film’s protagonist, Boris Grushenko, played by Allen…
If you’ve ever spent an evening with an insurance salesman, I’m sure you know what I mean”