How I lost $534,000 Through Infinite Banking - The Chris Naugle
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- čas přidán 25. 08. 2024
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I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...
@rachealhubert74 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@rachealhubert74 I will give this a look, thanks a bunch for sharing.
FAKE spammer ad for financial advisor in This comment string!! Don’t fall for it.
Hopefully you aren’t an evil Marxist Democrat who voted in these demon-filled Globalists destroying our civilization.
Unfortunately the catastrophes just getting started.
Hate the Title ...love the FACT that your talking about lost commissions ....but some ppl will just scoll and say "see" WL is trash etc and never click on yr vid or never watch the whole thing.....I loved that you actually went over Agent commissions with actual paperwork to show.
I agree; i don't wanna subscribe to his channel because he's being deceptive
It's an effective title regardless of your opinion or what you BELIEVE the results will be.
It draws in disbelievers looking for confirmation bias and it draws in proponents who are triggered by the title.
Use an Infinite Banking Practitioner for an IBC banking policy.
Would you let your general practitioner perform open heart surgery? Or would you call a cardiologist?
This is heart surgery for your finances. Find someone that has been trained properly.
How do we know those legit real ones from the scammers?????
@@YesitisDexgo to the Nelson Nash Institute and start there
oooh my Lord.... a light just came on. No wonder my old neighbor was trying to help me with something like this. I just couldn't see it past my own trust issues. Why doesn't anyone talk about this???
Good point about giving up 90% of the Agent commission however you’ll find in almost every case doing so by designing a policy with 90% PUA’s hurts the long term growth of the policy. In fact there are a few insurance carriers that give you nearly as much early years cash value but grow much more in later years.
I think $30,000/yr is unrealistic for more than 50% of the US population and that's the only reason you can have any access to that much cash in the first year. Even in IUL policies if u front load your policy like that, you'll have instant cash value by end of year one. Front loading or paying a huge sum upfront is what builds cash value faster. If you illustrate with $6000 annually that's $500 a month which is what more than 60% of the population can afford without canceling the policy it won't have much cash value in yr one. Front loading is the magic trick of ur presentation. Anyone can get on those platforms now n build a policy. There's no magical rocket 🚀 engine to it. I think every family should take an insurance class. Plenty of half infos out there. Just saying.
Good point!
Where does one go to take an "insurance class? "
10x your age is a good place to start. $30k a year is just an example
IUL has surrender period first 10 years
If you can’t invest $500 a month, you need to focus on increasing your income before approaching something like infinite banking.
the title made me worry (a bit clickbaity) but by minute 3 you had explained it.
Haha 😂 love it! I figured it was!!
Yes I know it is but numbers show I have 7 seconds to get your attention and it worked.
No one can build ur policy for u like you can. Get the right education and you can build the best policies that fits ur needs. I have both IUL and whole life and I'm an agent too, there's no right policy for all. Everyone's needs are different. No need to bash one or over the other. Everyone's just trying to sell whatever they're involved in while bashing the other kinds of policies. Terrible. Get educated folks n build yours it's real easy... Before long AI n chatgpt will be designing all these for free for anyone who wants it lol no more agent fees, no more bashing.
How do you build it?
@@Cubanogar He talks so very much in concept, arbitrage, and compound interest, and he used $30,000 (liquid money) as an annual insurance premium (not-liquid), which in concept is great, but most people don't have $30,000 available each year to invest in life insurance, so if one uses $6,000 per year ($500/mo), as an example, it would take 7 - 10 years to be able to use this concept.... and if you're already 40 or 50 or 60 years old..... you might be too freaking old to use this..... but the concept is good since once you put money into life insurance the law changes, and this takes discipline so that when you take the loan from your death benefit and pay off an external credit card or other debt that you repay your loan with the money that you were using towards debt, so that your bank account sees a zero-gain, but your insurance policy continues to grow. I wonder what this illustration looks like when using "real-world" interest rates....? And what specific insurance companies and policies is he using? Even if you have an insurance license don't these companies, as part of your appointment, have non-competes in the contracts... so you can just go fishing for a policy from company x and then a policy from company y ... and another from company zero.... to fill your base (whole life) and your boosters (term)? And explain your boosters, since they're term, you can't borrow against that unless its universal life (maybe) but UL is not straight term.... I'd like to see the intimate details here... could one fund such a thing with a $30,000 bank load up front.... but does this work then if you front-load with $30,000 from a bank loan, and subsequent years the premiums are $6,000 (i.e. $500 per month)?
If you can borrow from your policy, can you use the money to just pay for your monthly premiums? By year 5, you’ll have enough so that it’s self sufficient. Meaning, your premiums will be less than the the interest from the compound interest?
First year you’ll lose 3k (30k premium, 27 in access cash)
2nd year might be similar.
3 might be less. So on so forth, until year 5.
the money you borrow, you can do whatever u like.. so why not use it to pay the premiums.
You could. The problem is that the loan you take is gaining interest and if you "cash" out or die, the value of the loan will be deducted from that amount. Eventually, you are going to want to pay yourself back. This is about taking back the banking function. A bank can't make money without borrowers repaying their loans.
Doing so also negates the process of implementing the infinite banking concept. You want to borrow the money so that you pay less interest to other people and take advantage of opportunities when they pop up. But you should also pay it back just like like any other loan so you can repeat the process over and over again. Not paying it back will accrue interest, but it's can be a bad habit to carry debt that you can't afford. Of course, there are completely valid reasons why not paying it off might make sense, like consolidating debt, managing cashflow between jobs etc.
Where do you get the money to pay these high premiums? $30K is a lot of money to have available each year.
You set the amount that you have the ability to pay. Typically pay in your savings then minimize the base premium to start then dump the majority into a pua rider. That's your cash value. Don't look at it as a cost. It's moving your savings into the policy then structuring the policy to use your savings to buy assets while your total amount of cash grows at the same time.
Dang! I’m trying to understand this concept and not going to give up. One thing that is hanging me up is: I don’t have credit card debt, and I don’t have a car payment. I have plenty of money in reserves and do not like to take out loans for consumer goods. So if someone is really good with their money, meaning they make a comfortable living, no debt, able to save and invest 70% of the money they make, is this still a great idea and why?
Thank you for your comment. Congratulations on being in a great place financially. This conversation will be very easy because you’re exactly where I am. The things I use my policies for is investments. Primarily Private Lending. I lend my money through Private Money Club between 12% and 15% interest which means I make a spread on my money and I’m always making compound interest uninterrupted within the policy growth itself. Cash Value serves just like cash so you could also use this to buy into the stock market as stock prices continue to drop. (buy low, sell high- when the crash occurs everything will be ON SALE, strike then) See my video detail of two traders. The other thing you can use this for would be private investments, things like hedge funds, private funds, other collateral backed investments that you might make. For me I keep it simple [I invest] almost everything I put through my nine policies in collateral fact private loans in first position at an interest rate of no less than 12%.
@@TheChrisNaugle Who gets all this cash value when you die?
You finance everything you buy, either borrowing from a third party bank or by giving up the interest you could have earned when you pay cash. By keeping your money in a third party bank you are making money for them not you.
Heres a good source of infirmation
czcams.com/video/6QOzUxsQHpI/video.html
@matthewwellis3004 sounds like you’re in an amazing financial position. Sometimes stick to what you know and keep it boring leads to long term success. I wouldn’t do anything different if I were you
Chris you’re the man, thank you for breaking it down and making it simpler to understand.
I love this explanation and the IBC. It sounds like this process only makes sense (compared to investing your money as cash or an IRA) if:
1) Collaterialized loan interest < WL Policy Dividends
2) Premiums reinvested into the policy give you 90% cash value
If you don't meet these conditions you'll be losing money by 1000's of small cuts every time you cycle. What am I missing?
So I've finished Nelson Nash's book. Have been researching CZcams videos... What MUTUAL life insurance companies are trustworthy to try this concept with?
MassMutual is who I build these with. Which based off his dividend paying history, likely who he used as well.
Yes and Nelson states a 60/40 policy is perfect mix for the insureds policy not 90/10
@@alexc8497 doubtful, Mass Mutual most likely doesn’t allo we a 90/10 ratio. Most likely he’s using Lafayette Life, which will perform poorly in comparison in the long run
When you make a policy. Do you make a commission off that policy every year? Or just the 1st year? Thanks.
He talked about it in another video, they get a renewal for like $106.
Plan your retirement 3 cycles @ 12 years (144 Installments) 1st cycle : Age 24-36 ($720,000 @ $2,500 monthly savings ×144 Installments= $360,000 + Compounding Interest $360,000 Totalled: $720,000. 2nd cycle: Age 36-48 3rd cycle: Age 48-60. Grand total 3 cycles: US$2.16 million + Compounding Interest = US$4.32 M (Retirement)
I write IUL’s and I have never taken 90% that’s insane. I have found so many videos of people bashing IUL’s but they never fully explain it. I’d love for you to send me a link explaining why these policies are “terrible horrible” instead of just throwing that at the wall with no follow up other than the supposed commission structure.
Whether its IB or IUL... you're betting on past performance ... that you'll continue to receive a dividend, or the stock market index will continue to gain each year... arbitrage and compounding. Historically, over a 20 year or 30 year period this is doable........ except........our monetary system is collapsing and the coming money catastrophe is going to impoverish most of us. Each of these products are not liquid.
The music is a distraction and makes it more challenging to pay attention to your words. Your valuable speech is not in sync with the rhythm of the music which causes chaos instead of smooth flowing harmony. Thanks for the information.
I love the message! I love the production quality put into this message. And I LOVE the click bait title!
The average person cant afford $30k premium a year. Thats $2500 a month which is insane. If you can afford $30k a year why not just put it in a very low risk fund or even in a savings account after 10 years you will have $300,000k + or after 20 years $600,00k + to leave to your spouse or kids or whoever you want to leave it to isn't that the whole point of life insurance anyway?
1. How safe are banks? 2. Have you factored in taxes in all that?
First reason why not is because gains from funds are taxed, gains from WLPs are not taxed. Second is if you borrow money from funds you're actually just withdrawing it (taxed), if you borrow it from a WLP your original cash value is still earning interest. Third is when you take money out of your funds, the money is gone. If you borrow it from your WLP before you die and don't pay it back, there's still money left over in death benefit to pass on when you die. There are lots of other reasons too.
@@ProCoderIO Banks are safe I'm 52yrs old and never lost any money from putting it in a bank.
The problem is that savings accounts only return, like at most, 1-2%, which can return 5-6%
@@TheTyrial86 High yield savings accounts pay upwards of 5% these days.
Thank you for bringing up the fact that “IUL” is NOT what you use
100% I do not like IULS at all
@@chrisnaugle8397 would love to see a video explaining why. A comparison video perhaps?
@@theblacktruth - Chris has an excellent video on IUL vs WL. Here ya go: czcams.com/video/l55WKeKyAUg/video.html
@@myownbankingsystem thanks!!
It's indexed to stock market and functions like term.
What company do did you use to build this policy?
it said mass mutual on the paper. I maybe wrong though
What kind of policy could I have if I had only 10000 to put into one of these policies? And i'm already retired this is that knowing how these things work decker
It seems that you have to have money to even start infinite banking. What is the minimum amount you can start with?
10x your age for a monthly premium.
Remember folks, you lose the cash value you built up after you die. NOT worth it.
I heard about this years ago and ALMOST did it, but the question I had upper-most in my mind was, what happens when the electricity/internet goes out?? When there's no power for an extended period of time, where does the money go and how do I get it?? There are no ATM's, that would work, banks can't do anything so..... and this one question was one that nobody could answer so our family never went further with it. If anyone has an answer to this now, I'd love to hear it...... then we're in.
I guess you'd keep a normal bank too, or keep cash in your house for such occasions?
If all electricity went out everywhere, I doubt people would care about money anymore. We would either revert to a pre-financial situation based on trade where rich people would be those with the most food, allies, farm animals, guns, etc. and most likely, people would simply steal what they want.
You manually fill out a form and mail it to the insurance company. They send you statements by mail annually showing your policy details.
My understanding is that a Life Insurance company is a lot more financially stable than a bank. They actually have to keep money on hand to pay out the death benefits.
This scenario applies to anything banking related…are you saying you don’t use a bank?
What is your insurance name and how do I concat
So, in 8-10yrs when the PUA is gone; then what? How do i have access to money?
Dude; you do not need to have a deceptive title to get people to watch your vids.
Which carrier would you recommend?
HERE'S WHERE YOU CAN BOOK A CALL WITH OUR TEAM: go.oncehub.com/TMM-Coaching
Thanks for sharing this!!!!
Genuinely curious why invest in this over index funds? Do you have to pay any of the cash value back when you use it? If so is there fees or rates that go along with that? If there is then where do they go and why not use a bank? Do you keep the cash value as well as the death benefit when you pass? If not then what happens if cash value exceeds the death benefit? This amount invested in index fund averaging 8-10% a year is 1.2-1.5 million by 64 I understand you have to pay taxes but still well above the death benefit or cash value
Omg, this is sooo intense!!!
i like to think i am a pretty sharp guy, i still cant wrap my head around infinite banking. If you are putting money into the policy, why do you have to pay interest on your own money lol?
Note to all when it comes to investing (and anything in life, really) if it cant be easily explained in a sentence or two, run.
i really wished we had similar services in canada.
You do.
Dave Ramsey is horriific! Thank you for explaining the commission structure in simplest term. This makes sense and I know I really appreciate it. Thanks.
How does that percentage of access to early cash value affect long term internal rates of return?
Do the rates fluctuate?
@@anthonysmith1456
I don’t think you understood my question. Dividends and the internal rate of return are completely different. You don’t get credited the dividend in a whole life policy like you get credited a dividend on a stock. You get credited the internal rate of return, which is much lower than the declared dividend. The internal rate of return is lower than the dividend because it illustrates the cost of the three guarantees, which is the cash value, the death benefit, and the level premium. My question is how does designing the policy to give the client up to 90% of his or her cash value in the first year effect internal rates of return long term? This is important to know because the policy loan interest rate could be much higher than the internal rate of return making your policy function like a tax free savings account with a negative interest rate, level monthly deposits, and a death benefit. Doesn’t sound too exciting. Maybe a VUL would be a better alternative.
@ChristIsK1ng I might be misunderstanding your question, but while the interest rate for the loan you take out could fluctuate, in my experience over the past 6 years borrowing against my policy, it has remained exactly the same.. even during all the covid and market turmoil. I'm no guru, but the purpose of how these work is to be as stable as humanly possible which is why a lot of these are backed by decades and decades of track history. It's not designed to be an investment vehicle but a safe guaranteed place to put money and leverage it tax free.
But hasn’t the money already been taxed when you get a paycheck from a job? ?
Yes
The policy you are explaining does this earn interest and dividends? Both of them? Thanks.
The policy has guaranteed growth and non guaranteed dividends. The companies we work with have paid dividends consistently for over 140 years.
Can I apply for this type of policy as a foreigner. In case I can, if I have 50,000 USD to buy a new car, in how long could I get the money to buy it?
Semi annually commission v.s a one time payment upfront I’m assuming.
Great video Chris! Does your team actually show me not only the correct policy product used (i.e. 60/40, 35/75, etc) based on my goals, but also how much commission they will make on the policy?
Its basically a credit union that you pay 4% on loan fixed amount loan after commissions and fees.
Witch can be much better than a standard 8% bank loan. He forgot to mention tax benefits whitch is super important as you get further up the food chain.
Ok.. this is great information but.. do you do this in conjunction with trusts?
How about this title; How i made my client 534,000 on life insurance.
Chris's boss at the insurance company at the sales report meeting :
- Naugle...
Naugle..
nauglework here anymore....
23:06 how is the policy making you 5-6%? Is the policy invested in the market?
Insurance companies invest in different types of bonds. Govt, municipal, corporate. The reason they guarantee a rate it's because they're using your money to invest and they keep the spread. So in a sense, they're behaving like a bank.
Hello Chris,
Like usual very nice video. I am stuck here in Europa, do you also have an option for me to do this strategy?
Best regards!
John
Ok, the annual premium of $30,000, means that he has to be paying like thousands of dollars (~$2,500 per month) which the majority of the people can’t afford, therefore many just start with a $500 per month policy. This can be increased later on to gain more in cash value.
30K is just an example. He's demonstrating a concept.
You can start with less, I did
You can only borrow what they say you can borrow from your cash value...if you want the whole amount, of your cash value you will have to surrender the whole policy pretty much terminate the policy...meaning no coverage,and you lose all cash value. Poor investment options
Where do i pull money on yr 11 if the PUA is gone?
Thanks for the presentation i've been watching them. Doesn't term insurance raise with age? Would payments on that raise with my age in the 8-10 year time span on any of those smaller rockets? Like if I drop the P.U.A in the 8th or the 10th year because its no longer needed.
No. In fact payments stop at year 30, yet the policy continues.
You obviously do not understand the nuts and bolts....but your perception of it is your own.
I have an IUL for the last 30 years with a substantial amount for retirement/lending/etc....and I use it for vacation, large purchases, etc😅
Like drivers on the road, there are those that understand how to drive and there are those who have no clue......
Please help me understand this, using your table on the white board, by the end of it: I will have access to $678,194 and have contributed $431,500. The benefit being that I can "borrow" money at a small positive spread (as long as dividend outpaces simple interest rate) to invest in other assets that will generate higher returns?
Also, on your calculation, you calculated a "true net growth," you made $3,128 for year 4 to year 5, but your denominator is just your premium paid this year, not all of the cash you've contributed before. You did this because you pulled all of the money out each year. But you're pulling that money out at 4-5% simple interest. Wouldn't you need to factor in the 4-5% interest that you're paying on the $120k that you've pulled out ($120k = $30k/yr x 4 years). That is $4,800 in interest expense in that year alone. So your policy "made" $3,128 but you paid $4,800 to be able to invest in other assets.
Maybe I'm misunderstanding the math but that seems like you're losing money. Wouldn't it make more sense to just invest the money?
Your understanding is correct. This is a good overall video but makes a few misleading points that you have noted. Especially the point about the return using the one year premium as the base. Also, typically the "spread" is negative. Maybe my insurer is way more expensive than MM, but typically insurers charge 8% simple interest on the loan, and then credit your cash value 7.25%-7.75% of the interest payment when you pay it back. So your net cost to use your own money ends up being 0.25-0.75%. The whole concept of "infinite banking" is misleading in general. The point of borrowing from a bank is that you DON'T have enough money for a purchase. In the case of infinite banking you DO have enough of your own money. Whether that money is sitting in a WL policy, a high yield savings account, or a taxable brokerage account, you are just pulling it out and therefore paying cash for something. I could pull $10K out of a high yield savings account (currently getting 4%) and then "pay myself back) $250 a month back into the high yield savings account. It doesn't sound as sexy as infinite banking, but it is the same principal. Ultimately, whenever I do that math is just seems like IB is a complicated high yield savings account. Having a high yield savings account that gets 4-5% return is nice to have as part of a portfolio, but for long term investing you will make so much more investing in index funds at 8-10% a year (yes, there is yearly volatility, but just wait 10 years and you will have double the cash value of equivalent investments in a WL policy).
Don't forget too that these policies can be borrowed tax free and if I'm understanding, are also protected from legal issues like a divorce or bankrupcy/collections. Lastly the death benefit being tax free for your family is nice.
You are borrowing your own money. The "dividend" is actually just the extra money you pay for the privilege of having a policy that has a dividend. The IRS counts dividends from these policies as refunds of an overcharge. You are literally just using your own money to do this
Did you copy and paste this from Dave Ramsey Academy?
@@TheChrisNaugle is he wrong tho 😂😂😂😂 shocker the guy that sells insurance policies wants you to buy insurance policies
These policies are like buying something you don’t need because it’s advertised at 50% off. Look I saved $5k on a $10k RV I didn’t need and only go camping 2 x per year but now I have to maintain this thing for $1k per year. Please buy term as a tool to buy down risk if your family depends on you.
Isn’t a return of unused premium the same as getting your change back when you hand the cashier a $10 bill for a $6 happy meal? Why would that make the customer smart? What am I missing?
Looks that way.. but thst just means your premiums were cheaper.. or you can use to increase death benefits
Amazing breakdown!
You deserve a follow for showing the facts!!! Thanks you ❣
I am curious how are the dividends stacking up in the future if you are running this as 90/10
Or you referring to losing money just building this properly and you give up a ton of commission?
How much a month does this policy cost you every month?
Sounds great but can you do a video with something affordable for us small guys
Take all the numbers and divide them in half for 15k/yr
Divide by 10 for 3k/yr.
There are banding prices at different levels so it won't be exact but it will get you close.
The problem with infinite banking is its being sold to people who only have 200 dollars monthly to apply to life insurance. This concept is horrible for them and they are better off with a 30 to 35 year term policy and adding 50 to 100 bucks in mutual funds. Someone dies prematurely they have the large death benefit they live they have some cash. To many people with young children dying with 40k whole life polices that could have been 400k term polices
That is not a problem with infinite banking. Would you say the problem with a hammer is that it breaks glass?
If you have only $200 to put into life insurance......... this idea just means that the IB program takes longer to do? Remember, he started with $30,000 premium that he paid $30,000 each year... and then made a $27,000 loan at the front since that was his policy's CASH VALUE.....while he states he's making the loan against his death benefit as collateral.... the cash-value goes to zero but the premium and death benefit remain the same... the insurance is still only going to give him a loan based on the cash value (correct, and this is where the arbitrage occurs, so you have to get a loan at a lower interest rate (and include the compounding that occurs as you repay the loan) than the bill's interest rate that you're paying off) so a $2400 a year premium would take 10 years to be able to have enough cash value to do this... unless there's insurance products where I put $200 into the first month's premium for say, a $100,000 face value death benefit... and am able to borrow say, $30,000 against the face value? Please show me THAT insurance company and it's premium spreadsheet! interesting he didn't throw the tax impact/benefits(?) into this? I'd still be interested in the details... the specific insurance policies and types used, for how long, etc. Concept is relatively easy to sell as a bullshit story... actual practice is what I now want to see.
The cash value would not go to zero. You are borrowing against the cash value. If you take out a policy loan and then decided to "cash out" of the cash value, the amount of the loan you didn't yet pay back would be deducted from the cash value. When you take out the loan, the cash value is still compounding, because you are borrowing against it. You seem to be caught in the numbers and not the concept. Of course it takes longer to build capital the less money you put into it. This isn't for everyone. You are borrowing against the cash value, not the death benefit. Although the cash value is part of the death benefit.@@thomasmurphy8809
Can a VUL work for IB?
Do you follow the Insurance Pro Blog Podcast?
Good morning Chris I am very interested in the program. Is there any kind of way I could actually meet live with someone to get a better understanding or see my options
So you have to pay into this a few years before you get cash value and can borrow against it?
You can do paid up additions.. I just put 2500..bought me like 23k plus in extra life insurance.. and I took the 2500 back out
Great video. Thanks. Question, why on year 2 through 5 premiums go from $30,000 to $29,900 but under CONTRACT PREMIUM TAB it shows $30,000 pair every year? This policy breaks even year 5?
Chris, can you do a policy video showing how you can be your own bank and fund an equity withdrawa from a rental I own free and clear. I want to take out $300,000 but fund it through a policy I will be paying back the premiums and loan amount through my monthly rental income. Is that doable? I don't want to pay a commercial bank the interest. Thanks for great videos!
I don't see why not after 30 days into the policy you borrow and pay off the line line of credit and pay the policy loan with the rental income. Rinse and repeat each year.
Easy to understand really, you borrow from your own money instead of from the bank and you then refund yourself with interest in your policy rather than to the bank! Neat concept, but is this only for US citizens? How do I become a US citizen without living in the USA? I am in Thailand!
You have to qualify for the whole life policy so this may be a no go immediately for a lot of people
You can put the policy in someone else's name if someone is trying to take out a policy and they happen to not qualify
You also have to qualify for term.
You can take out a policy on a person you have invested interest in such as a spouse or child.
Can I take out a policy on my mother?
@@passionfruitpassionfruit2034 if she’s healthy
Can you take a loan against your death ben and just put it back into the policy itself raising the cash value increasing the interest earned etc? And can you do that repeatedly?
The premium deposits should be made from income and not loans from the policy. The cash value in the policy can be used in several ways that would be more beneficial.
I appreciate what you’re describing. However, if you’re returning commissions you’ve earned back to your client, that’s called rebating. In most states, it’s illegal for an insurance agent to do that. You can get your license pulled.
He’s not returning them, he’s charging less as his commission is based off the lower say 600k DB instead of the millions someone else would sell you in a policy🤔
You’re amazing man!!
PLEASE Cut the music. thank you.
This just sounds like a life insurance policy that you can borrow money against. What happens with defaults?
I have a question. I have a ton of debt (almost 65K) but it is in child support. Your system makes sense to me but will it help me get out of this insurmountable pit of debt I have?
What the heck, I’m confused. Are you discouraging IBC or touting it? Click-bait doesn’t inspire trust. Also, my interest in what you have to say is diminished when you’re constantly reminding me that what you have to offer is unlike any other policy or what others like my so called “brother-in-law” can offer. It smells like you’re just trying to scam me into yet another nebulous financial product. Anyone else getting that vibe?
excellent hook.
i have eight digits to put into these and would like to discuss this
It is well explained. Canada IBC sucks more than USA but still doable. Nice coincidenxe best design here is life pay 250k Sunlife Accumulator II which is a ratio of about 2/5 go to base and 3/5 go to paid up additions. This is in the optimal range you quote.
So is it 289 plus the cost of insurance monthly. Because somebody has to pay the monthly premium to keep the insurance running
What policy do I need to find?
What also sucks in Canada is that policy loan is 9% ish and dividend is only 6.5%. There is a bad spread.
My policy loans are 6% through equitable life. Curious which company you are talking about
Sunlife, Manulife and Canada Life are way more expensive than Equitable. So for IBC use Equitable I guess. I am still learning.
Buy whole life insurance - take out a loan from insurance to make car payment ($200 for example) - make $200 payment from checking account to pay insurance loan. Is that how you do it?
Not exactly. It must be a specially designed whole life policy first and foremost--very important. Second, you wouldn't borrow $200 for a car payment each month.. you would borrow enough to pay the car loan off completely. Third, what you normally would have paid each month for your car is instead to your policy, so eventually, your policy loan is paid, saving you interest.
Lastly, once your loan is paid off, you can do the whole process over again.
Ok so when that 200$ car payment is paid to your life insurance policy, does it increase your saving ? Or does it just pay back the death benefit ?
I care about a very large base because i. Want to buy my net worth now so i can live in abundance and replenish my life money with my death insurance. Why not get a 100% base and add PUAs? Do we really need 8-10 different policies? Is “flexibility” just mean that we will skip PUAs when we don’t have the money to make them?
Misleading headline.
Thanks man
Will the recent Mass Mutual memo regarding IBC affect any of this? Will this snowball to the other Insurance companies?
What was the memo?
Sounds like a front loaded IUL with increasing death benefit changing to level for the cash value blossom as the policy matures.
no I U HELLS here
This is like watching an elaborate magic trick. All of these moving parts as he is taking a crazy amount from your wallet. Total joke
It's one of those is he trying to get one over on me or actually helping out idkkkkk
@@anthonysmith1456 but that's the issue trusting the person selling it to you
@@anthonysmith1456 agreed I'm doing my own research that's how I ended up watching this video
@@oui.monsieur Make sure you work with an agent that practices what they preach.
I need more info. I don’t understand it too well but it’s e interesting
Why would I want to give my $$$ to an insurance company so I can borrow it back to pay interest on my own money ? I stack gold, if I need $$$, I can get a low interest loan against the gold, pay it off, and I still have my gold. I can write off the interest, borrowed $$$ isn't income. This makes 0 scense to me.
Infinite Banking is another term used to separate innocent hard working people from their money.
Can you explain the drawbacks of a high early cash value policy? I've been trying to work out how you say you put 40% of your premiums into base yet get 90% cash out in year one and see it's because of a HECV. My policy through One America (that I got through TMM) is a 30/70 split and I only had access to around 60-65% in year 1. What are the benefits/drawbacks of a HECV from MassMutual? Do you have to live in a specific area to use MassMutual and why is TMM pushing policies like mine in real life when you all advertise the numbers from a HECV policy in your examples and then use MassMutual's HECV personally with a 40/60 split?
Mass dividends are the best/highest. One America’s are no where close.
I have a new video coming out that will hit on that maybe in a week or so its in editing
This is incredible! Can I start IBC at 55?
Anyone here use this guy to do this? I’m interested but always cautious. I don’t want to screw my family
Love to read the tax code that covers these kinda insurance polices.. I would also love to learn how to what you are doing for people.. Americans need to take back their finances.. It’s the only true freedom given to us by our Only Lord and Savior - Jesus Christ🙏🏼
If you need the money you put into your whole life year 1, maybe you should consider that you may not be ready for this concept. 😮
Who is the carrier?
Very interesting, to be one's own bank through this type of whole life insurance. Question is (I'm watching from Nigeria), is this possible in Nigeria or for a Nigerian if I'm outside the USA? How exciting if it can be possible for me. Thanks for the clarity in your teaching.
What's good fam sending love from south africa, I think it should be possible to do this in Nigeria as well but you have to understand your environment first maybe it won't work like it does for them. My advice is find a financial advisor, they don't even have to be good and discuss this with them. If you can't afford one go to your local university and make friends with people who are in finances
I don’t think the average person can put $30k a year into a policy. So how is it suppose to work for the average person who can only contribute a little bit?
It's just his example, you could have a $1000 policy, but then the question might be why? Hard to imagine trying to get any real benefit from such a small policy.