Video

@@jeanjasinczuk7543 Again sir this is just an example 😂 you didn’t ask me if this person had other money besides that 401k? Many times people have many 401(k)s or IRA’s that they save money into. Again, I am with you, I would never recommend anybody put 100% of their money into anything. I didn’t say that they did in this video.l either did I? I was talking about one of their accounts. .. The key is diversification. Any financial guru that is knowledgeable on saving and investing would agree with me that the closer you get to needing your money, the less risk you should be taking it. .. Index annuities are fantastic because they still give the client the opportunity to see really good growth in their portfolio, but with zero downside risk. They give guarantees. The older you get, the more guarantees you want to insert into your portfolio because you do not have time to make up the stock market losses when it crashes.

@@jeanjasinczuk7543 so, back in the day I would have agreed with you one your statement above. .. However if you keep up with the industry, so much has changed with these products. Now the growth annuities actually do, in many cases out perform investments because they come with zero stock market risk and many times multipliers (or what we call participation rates) on your money. .. This particular one that I am showing here tracks the NASDAQ and the S&P 500. The S&P is very common to see in peoples retirement accounts. But here you deal with zero risk with a cap, and one of the strategies has a 240% multiplier with no cap. .. I would still never recommend anybody put 100% of their money in an index annuity. But it is always a good idea to have a portion in it because annuities give guarantees that investment portfolios cannot provide.

@@JerryPerry-mq9gn you’re welcome!

Aw thank you!

Not true. Psychology is very useful when working in our industry. That’s of you’re really trying to help people, not just sell them something to make a quick buck. Useful in recruiting and building teams, developing leaders, etc.. The study of psychology is useful in many industries. What industry do you work in?

Ummm...psychology helps you understand how people think and act and human behavior. If you're in a customer facing role, or a sales role, you need to understand how people think and what motivates them to help guide them to a decision that is right for them.

@@Twealthwise I agree!

@@DavidATakes I appreciate your opinion, however instead of stating only that this isn’t a good idea, can you back it up with facts, figures, and numbers as to why you disagree, and propose an alternative plan that beats the numbers shown here? .. Until then…

@@illuminate.your.wealth How about sharing the outflow of commissions and fees during the life of a typical policy.

@@DavidATakes exactly. She is an insurance saleswoman masquerading as a financial planner.

Exactly correct.

@@DavidATakes I would LOVE to do that. Let's ZOOM! In fact, I'll show you how the fee's in your 401K or IRA stack up against an IUL and an indexed annuity, and HOW MUCH MORE IN FEE'S you are paying in those accounts compared to an IUL and FIA. (most FIA's are fee free by the way soo....enough said there). What will shock you my friend is how much that 2.5% fee inside your 401K compounds over time. Now...i'm sure you won't actually want to meet with me. And that's okay, I created a video to show this as well. You're welcome to watch this 27 minutes in to learn for yourself. czcams.com/video/tqef4p4npns/video.htmlsi=8-CVrK7GaxrDYkCi

@@honululu4223 I’m guessing you aren’t a fan of IUL’s? Why is that if you don’t mind me asking? The only time I find people who aren’t fans of them is because they have either tried to get approved and they didn’t come back at a good health rating so the product is too expensive. Or they had a really bad experience working with an insurance agent that screwed them over. OR! They know someone one of these things have happened to. Which one is it for you? Because if you truly did fully understand how the account works and all the benefits and features it offers, you would have an entirely different opinion. I’m happy to chat one on one through Zoom if you are open minded enough to learn!

@@honululu4223 certified means licensed

@@illuminate.your.wealth by whom exactly ? by what authority ?

@@honululu4223 by the state of sale. I'm licensed in about 40 US states to do what I do.

@@illuminate.your.wealth what exact designation do you carry ? stop making stuff up to sound official.

@@honululu4223 I am a licensed life and health agent in 40 US states. It’s a state exam that you have to take & pass to be able to do what I do. I am allowed to be called a financial coach. Are you looking for coaching or guidance on what to do with your money?

The federal government can do whatever they want, to whoever they want, whenever they want lol. Now...when it comes to IUL's and other types of cash value life insurance, in my opinion, I highly doubt they ever would change the laws around it, because that is where most of the high positioned government officials save their money. And also where most of the high net worth people that fund the government privately save their money. If you look at whats happened in history with these policies, they actually keep making the laws more in favor of these types of plans. In 2021 the government INCREASED how much money people can save into their life insurance policies. So....I truly do believe the laws will always be in our favor with these plans.

Sure, the national debt is continuously increasing, but the tax system will never touch insurance payouts. The government will instead only increase sales and income tax, a politically unpopular choice, instead of targeting different revenue streams like insurance payouts that are held by a relatively small portion of the population.

@@austinbradshaw3636 you are correct. I truly believe it’s also because life insurance was designed to support widows and children. And the government believes widows and children shouldn’t have to pay taxes.

@@illuminate.your.wealth I’m sure the government can differentiate between pulling money out of an IUL for income versus a death benefit following the policy holder becoming deceased.

@@austinbradshaw3636 sure thing.

Correct! Your cash value gets baked into the death benefit, bringing down your cost of insurance as you get older.

Happy to help!

The average rate of return of the S&P 500 from 2003 to 2023 was 9.83%. The "actual" rate of return during those same years was "actually" 8.38% when you correctly factor in the negative years. Assuming a 0.10% fee cost per year (according to google for an S&P 500 indexed fund) and an actual rate of return of 8.38% earned per year... You will have an estimated account balance of $2,528,731 20 years from now. Assuming an average 20% tax bracket, and long term capital gains tax rates are scheduled to increase in 2026, you would pay approximately $559,788 in taxes. Leaving you with an account balance of approximately $2,022,984 net of taxes and fees. However most people wouldn't keep their entire financial portfolio in the S&P 500 as they get closer to retirement because it's too risky. They would shift into more conservative balanced portfolio's probably 10 years out. Now, let's hope and pray you retire at the top of the stock market and not at the bottom like millions of Americans have done. I always say it's not about how much you have, it's about how much you keep. And in my opinion, there is no better option out there today that can grow money in a way where it has zero stock market risk and is accessible all tax free in the future, which is what most high income earners are after.

@@illuminate.your.wealthThis is my third attempt to post a response. I’ll just add this as an individual comment if it doesn’t post. When you take 45000 invested in May of each year in between 2004 and 2023, the value of the stocks would be 3.4 million dollars. To be frank, if someone was only starting to invest at age 40, but they wanted to retire at age 60, heavy stock holdings ten years before retirement is unrealistic. Additionally, if this was the only money invested by the high-income earner targeted in the video, 7000 of that 45K they invested could be in a Roth IRA, and 8000 for the last 10 years of the theoretical timeline in the video. Additionally, according to Investopedia, 67% of private industry workers had access to 401Ks. According to the Bureau of Labor statistics, 85% of workers are in private industry. Government jobs are typically associated with having some tax favored retirement account. Many workers will also have access to Roth tax favored accounts that would lower the tax burden withdrawing the money for retirement, but they could also have more than the 45000K invested per year in the hypothetical above if they used tax deferred accounts which would only increase the 3.4 million earned. Also, the Vanguard ETF expense ratio is 0.03% far lower than 0.1%. Cheaper options are readily available. The 150K distribution, in the video below would be equivocal to 91 K in spending power when the person in the video would be 60 years old. When this person is 80 years old, it would be equivocal to 55K in spending power. This is assuming inflation of 2.5%. I really doubt that someone used to a lifestyle of 240K a year and higher would want that level of spending power in retirement. Considering increased healthcare cost in old age which can include very expensive nursing home costs, I doubt anyone would only want this much spending power available to them in their golden years. For seeming to value borderline guaranteed and highly conservative outcomes, the distributions of this policy seem to leave the person in this example highly vulnerable to having poor retirements funds at 80 years old when healthcare costs are likely to be substantially high. The death benefit also seems quite low for someone making 240K especially at the beginning of the policy when their family would be in the greatest need for funds due to the lost income after an unexpected death at the age of 40.

Rich people not paying taxes "legally" is smart. They have access to all the same tax laws you do. It's your choice to pay more in taxes. Don't hate on people that have decided to educate themselves on how to pay less.

If Dave Ramsey is correct, please explain to me and everyone else how I was able to prove him wrong multiple times in this video with actual facts, figures, and data points? lol

For starters, we don't know how many more years backdoored ROTH IRA's will be allowed, so if you want to bank your retirement strategy on something that could just as easily be gone tomorrow, go for it. Second, a Roth IRA still doesn't get rid of the stock market volatility. Third, a Roth IRA isn't liquid. A properly structured IUL can be 65% liquid in year 1. With zero stock market risk, and without having to get all fancy with saving money into one product and trying to do a work-around to get it into another.

It has been available so far and it is available now. If they close the back door, the money you put in is still there. Even then I would rather use a brokerage over an IUL. Yes, the stock market is volatile. That is why you contribute to it and invest in low cost index funds over 30 years, so far that hasn't failed. You can withdraw the principal whenever you want for whatever reason you want. You can access the growth penalty free for a myriad of reasons like disability, 10k for first time home etc. But, this $ is for retirement so you shouldn't access it early anyway otherwise you won't have anything to retire with. So 35% of your first years contributions goes towards your commission and cost of insurance, how come in your chart you start with 100k S&P500 vs 100k IUL, shouldn't the IUL start at 65k and the S&P500 start at $99,945 (to cover the Vanguard account fee and .03% ER)?

@@JustSomeRandomGuyYo best of luck to you sir with your plan. If saving 100% of your money into accounts that give you no guarantees, that aren't accessible without penalty, and grow and compound your taxes is what you prefer, I wish you all the best.

You are correct on the dividend part. The IUL category already has the cost of insurance deducted from the both the center column and the column on the right, all are net of cost of insurance. Now what you neglect to leave out is that $622K is taxable. Because you can't put $100,000 into a tax free investment all at once. And as for a Roth IRA, NO RICH PERSON OWNS ONE! None! They can't even qualify my friend. Rich people keep their money in places where it is accessible, and grows accessible tax free in the future. Saving wayyyy more than $7,000 per year. IUL's are the cheapest way to do it if the client is young and healthy enough to qualify.

@@illuminate.your.wealth Anyone can contribute to a Roth IRA by making a non deductible contribution to a traditional IRA and converting that to Roth and filing tax form 8606. IDK how you can be in the finance space and not know what a backdoor Roth IRA is, that's wild. Peter Thiel has one, is he not rich? 401ks also have a Roth option so you can get a total of 23k + 7k into Roth $ per year. More if your 401k has the mega backdoor which allows you to put in up to the limit of 69k + 7k. If you lump sum 100k into an IUL, you get growth on 100k in year 1? So you get $0 in commission and the cost of insurance is $0? Maybe you can show us one of your little illustrations that shows that?

Yes all true they do reserve the right to change the caps and participation rates at any time. However most of the insurance companies I work with don’t have a history of doing that, but I do know a few that have. I stay away from those.

@@illuminate.your.wealth For me there are too many moving parts that the ins co controls and has the authority to unilaterally change and that will have a negative impact on me no matter how the IUL is structured. I appreciate your response and wish you continued success, thank you.

Funny because I always have people from Australia messaging me on social wanting to know if they can own an IUL!

@@illuminate.your.wealth No they don't.

@@zeruf uhhh yes they do lol.

My apologies you don’t care for it.

Clearly you have not met any of my clients 😂 most of their IUL policies performed at 10% or higher rate of return last year that is accessible tax free!

@@illuminate.your.wealthWhy are you dodging certain comments? Did your IUL sales training course not teach you how to counter in depth critiques of your sales pitch?

@@austinbradshaw3636 what comment did I “dodge”? Please copy and paste it here and I’ll reply.

@@illuminate.your.wealth I put them in the top comment. For some reason they are only showing up if you view the comment while the comments are sorted by newest comments. You’ve been tagged in the comments. You will be able to see them.

Who do you know exactly who had an IUL??? Please have them come and show us. If they’re structured wrong, Amanda is MORE than qualified to do a review and give recommendations. She absolutely knows what she’s doing✅

Maybe I prefer carpet because I get cold feet 😂 what does that have to do with this video lol. To each their own, hardwood might be your choice, but myself along with plenty of my wealthy friends have carpet in their space.

I invite you to make content to prove he isn’t lying. Because I hate to burst your bubble on him, but he is lying. If you watched the full video you would see all the factual DATA that proves it. It’s not my opinion. It’s fact. Which part of my “BS” do you have proof isn’t true? Don’t worry… I’ll wait…

Funny how she never comes out and says what UIL policy gives 6.3 percent rate of return starting from day 1, yet she uses that rate of return in her example. Banks wouldn’t even be able to offer CDs due to being outcompeted if UILs could guarantee that rate of return for over 20 years.

@@austinbradshaw3636 Did I ever say the IUL “guarantees” at 6% rate of return? .. Nope. .. Using it as an average, just as you average out the S&P.

Those years weren’t “cherry picked”, it’s called a 20 year look back 😂😂

@@illuminate.your.wealth So is this rate of return on an index fund with a floor and cap like you pointed out in previous examples? If it is, then why is the rate of return the same as an S&P fund with no floor and cap. With a floor and cap, the fund would have a partial guarantee.

But you have to admit that using a 20-year look back instead of 30-year (or even 10-year, or 50-year) is a bit convenient for your case, right?

IUL’s are NOT an investment. They are not designed to compete as an investment. They are designed for life insurance, safety, preservation, and growth of your money, all tax deferred that is accessible tax-free. Now, even though they’re not an investment, most of the time if they are structured correctly, they will out pace the actual market as shown in this video. Did you watch this video?

@illuminate.your.wealth I believed and sold this product through many different carriers. I highly recommend getting your securities license and having access to a plethera of better products to sell and you will see how inferior of a product IULs are. Becoming a fiduciary does the right thing for the client and you will find that 99% of the time, IULs would not.

This whole video is a counterpoint, my friend, showing how almost every single line item in it is 100% incorrect. With proof may I add. I welcome you to make your own content to try to prove me wrong if you think this proof is in accurate.

I help clients with all kinds of life insurance. As stated clearly in this video. Unlike Dave who only pushing term life insurance because that’s all his team sells.

The point of this video is to educate people on the actual truth on how these products work. Dave has built his brand on lies, and people need to be exposed the truth. Did you watch this video? Did you see the actual facts and data points that I used to show he is lying? I’m guessing not, or you would not have made that comment.

@@illuminate.your.wealth Trust me, I watched it. Then I went and browsed the other videos on your channel, many of which are also about these products. So my point is, if you're personally involved with selling these to clients, then you do in fact have a bias because you have skin in the game. I think it's telling that you had nothing to say about my point and everything to say about whether or not I watched the video.

@@DHilly95 I help clients with all kinds of life insurance and annuity products. INCLUDING the product DAVE pushing on his social media which is term life insurance. So question for you. Dave and his team can only sell Dave Ramsey term life insurance. I can help clients with ALL kinds of life insurance. And you think I have a biased opinion over him? How? 😂😂😂

@@illuminate.your.wealth I never said your opinion about Dave himself was biased. I said your opinion on the products, specifically IULs is biased because you sell these particular products to clients. You make money off of these, so obviously your opinion about them will be positive. It's got nothing to do with Dave directly.

The man speaks facts about how to get out of debt, but show me proof that he has helped any specific American build wealth? I would like to meet that person. I have yet to come across them.

There's a section of the show that highlights people who went from being in debt to being millionaires using his advice and methodology. To say that he hasn't helped people build wealth on top of getting out of debt is insane. She's out here in the comments asking if people watched her video while slinging insults at Dave when it's obvious she hasn't bothered to watch his videos😂

@@justinsmith4042 I have watched his content. And I have quite a few personal clients that had success with him helping get them out of debt. But I also have many clients that lost a lost of money with his advice to build wealth and really screwed themselves on their taxes. To each their own. I wish you all the best at building wealth listening to Dave my friend!

You’re welcome! The goal of this video is to educate people on THE TRUTH so they can make their own informed decisions on these products.

Building a business doesn’t help you “dodge” taxes. Is gives you the legal right to have tax write offs. You should try it!

@@illuminate.your.wealth my point is the tax system has been corrupted to suit high income individuals to the detriment of the middle and working classes. If the workers can't afford to eat, how are they going to create wealth for business owners to take? There's two ways we can address this issue, 1) we can tax the rich to redistribute the wealth or, 2) we can stop businesses exploiting there workers by limiting the profit owners can take out of the company and ensuring fair pay for workers. If we don't, the economy collapses, markets dry up, everyone starves. You've seen the zombie movies, right? That's what happens when economies collapse. We've got to limit how much the parasitic owners take from the people, if the parasite kills the host, the parasite dies, or it finds a new host.

@@illuminate.your.wealth @illuminate.your.wealth my point is the tax system has been corrupted to suit high income individuals to the detriment of the middle and working classes. If the workers can't afford to eat, how are they going to create wealth for business owners to take? There's two ways we can address this issue, 1) we can tax the rich to redistribute the wealth or, 2) we can stop businesses exploiting there workers by limiting the profit owners can take out of the company and ensuring fair pay for workers. If we don't, the economy collapses, markets dry up, everyone starves. You've seen the zombie movies, right? That's what happens when economies collapse. We've got to limit how much the parasitic owners take from the people, if the parasite kills the host, the parasite dies, or it finds a new host.

Wowwwww “redistribute wealth”? My friend…everyone in America has the opportunity to build wealth. Every rich person came from a poor person at one point in the family bloodline. Instead of having a victim mentality and wishing wealthy people paid more taxes to take better care of you, why don’t you go learn how to build wealth and get wealthy on your own?

@@illuminate.your.wealth "victim mentality"? Are you compleatly blind? Can't you see whats happening to the middle class? There gone, poor communities are being tore apart. The economy is not growing, yet the rich are getting richer. The wealth IS being redistributed, from the poor to the rich in the form of interest on loans, rent on assets and underpaid Labour. You clearly don't understand economics, if you dont tax the rich they will stall the economy by accumulating all the wealth and ordinary will people starve. When I say tax the rich I mean take 1% anually from people that make over 10 million a year and put the money into public services, civil infrastructure and small business grants. It's the only way to get the economy going again, it is stalling and when it grinds to a halt, we invade our nabours and kill a load of people untill theres is enough currency to go around, bad strategy, just take the money from the people that are hoarding it and if necessary put there head on the chopping block. The french had a revolution, it worked out good for them. I hope this was enlightening, if you would like to know more about how the economy works, read a book!