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Dear Fools: What to do with our IRA distribution? He's 75, I'm 61, both still working (to pay our taxes and get health insurance). A CPA suggested buying a Variable Universal Life policy (?) with the IRA money which we don't really need but must take out at regular tax rate. CPA says after a time we could borrow against the policy tax free if we need $$. Never heard this idea discussed... What is a VUL? Is this a good idea?
Where/how will I find your answer?
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