@Brian Vanderlugt I set aside a portion of my annual premium into a high-yield savings account each month, so that when the anniversary date arrives, I have it ready. I also have structured monthly loan payments going back to the policy, and any additional cash flow from my budget goes toward these loan repayments. My question is whether I should focus on directing all three of these categories—monthly savings, structured loan payments, and extra cash flow—toward paying off the loan until it’s fully settled. Once that’s done, I would then redirect funds into the HYSA until the anniversary date. I believe that paying off the loan will enable me to use the freed-up money for either further debt repayment, investments, or even covering my premium, whether partially or in full.

@Antonio Robinson nine months into a policy. I’m still learning myself.

Hello.

@David Waller as of now Kindling notes is a little rich for blood. I have been looking in to either Mogul or Groundfloor. They say the best time to plant a tree is 20 years ago, but if you didn’t, now would be the best time.

@David Waller My wife and I have had the same conversation for months about our financial system. We pay many of our policy annually, so we're parking that money in a high-yield savings account while we waited for the policy renewal. The challenge was that she had full access to the HYSA. She could deposit money, withdraw money, and speak directly with the bank whenever needed. Then it finally hit me. I own our policy, and I'm the insured. While she could log in to the portal and view everything, she didn't have the same level of access she had with our savings account. She couldn't fully participate in managing that asset, which created an underlying concern for her. The solution was actually simple: we made her a joint owner of the policy. Now she has the same access and control as an owner. She can see, understand, and participate in the process just like she could with our HYSA. That one change lifted a significant burden from her shoulders.

I am currently using policy loans to consolidate my last two high interest cards.