Parable of the Growing Money (VUL)
By Johannes Pan When I started working, I was excited to apply what I learned from the financial planning talks I attended. I made a budget journal to track my expenses and savings and then invest in a variable universal life (VUL) insurance fund. I did the same for my parents, who at first looked at me as if I was taking away a bulk of their hard-earned money that they were supposed to enjoy in their few years before retirement. “But how do you intend to live through your retirement years?” I asked them. My father replied, “We’ll just work in another church that accepts people who are over 65 years old.” (My parents are pastors.) “We’ve always planned on working the rest of our lives like your grandparents…