Andrew Latham, Certified Financial Planner®

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Andrew is the Content Director for SuperMoney, a Certified Financial Planner®, and a Certified Personal Finance Counselor. He loves to geek out on financial data and translate it into actionable insights everyone can understand. His work is often cited by major publications and institutions, such as Forbes, U.S. News, Fox Business, SFGate, Realtor, Deloitte, and Business Insider.

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  • Who should have cash value coverage?
    Permanent or cash value life insurance is a more complex and expensive form of coverage, so it’s not suitable for everyone. Generally, financial planners say that cash value policies are best for the following groups:

    Those who have an existing permanent policy may consider switching to term life coverage to save money. But if you have existing health issues, you may not qualify for coverage (and may be denied coverage entirely). Keeping your permanent policy may be the only way to maintain life insurance coverage.
    High net-worth individuals who are looking to take advantage of tax-deferred cash value growth and tax-free death benefits for their loved ones.
    Those who have trouble saving on their own
    Andrew Latham, a financial planner and director of content at SuperMoney in Santa Ana, Calif., said the cash value insurance may be useful for high net-worth individuals, but it doesn’t make sense for most families.

    “If you’re terrible at saving or if there’s no way you’ll put [the amount of your premiums] in an investment account on your own, maybe it’s worth it,” says Latham. “But otherwise, term life insurance and investing the difference is the smarter option for most people.”

  • "The use of tax brackets in the United States dates back to the introduction of the modern income tax in 1913," says Andrew Latham, a certified financial planner and editor of the financial site SuperMoney. "Initially, the tax was a flat rate of 1% on income over $3,000 for single filers and $4,000 for married filers. However, the Revenue Act of 1916 introduced a graduated tax system with 14 tax brackets and rates ranging from 2% to 15%."

  • “A 2022 study on the employee participation in Bank of America's benefit programs showed that 58% of eligible employees participated in a 401(k) plan -- which was an improvement over previous years,” said Managing Editor Andrew Latham. “Yet 61% of them contributed below $5,000 last year.”

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