As we approach the end of 2022, I like to reflect back on all the financial events that have taken place over the past 12 months. However, there is one popular piece of advice that I believe deserves the top spot of worst financial advice given this year.
It's the serial advice from insurance brokers to buy Index Universal Life Insurance (IUL). This advice is alive and well on social media and being pushed by people with very little financial education all over the US.
So, in this podcast episode, Derek explains what an IUL is and what makes this type of product so dangerous for individuals.
Enjoy the show!