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I started a WL policy with upfront max funded PUA with Lafayette January 2020. Then another in January 2021 with Security Mutual max funded PUA. Now Im starting my kids policies with Lafayette. Paid off mortgage this month and now Im ready to get more into RE.
I would like to say I have found the definition of financial alchemy in this beautiful conversation!! I this topic been on my mind heavy thank you 😊 I’m 24yrs old the let’s do this 😎
WoW! The knowledge these two amazing people are dropping are unreal! Most of my family & my parents included are imagrants, so I am the first gen born & raised in America. They don't know much other than work hard & safe more than you spend..... its a bit sad but thats all they were able to do & im grateful for it. Its up to me to show them these ("loopholes" "strategies") so they can retire & live in peace! I'll definitely be joining the wealth nation in the weeks to come! Bet on it!!
It is my understanding that cash value on a whole life policy grows over time. If that is the case then the ability to draw from it is minimal initially. I know that investing in a whole life policy is great but the older you are the more expensive it is to purchase. The cost also goes up the more coverage you have. Not only that, but the cost of a policy can be much more for someone who is less healthy, some may not qualify at all. What's the alternative for someone who may not qualify for these policies. Using your whole life policy as an instrument to borrow from is something in my mind takes many years to accumulate in particular if the goal is to pay off debt. Look forward to hearing your thoughts in response to my comments. Thanks!
So, you are right on all accounts: Cash value builds over time and starts small. Whole life is more expensive than term. You can be denied for coverage and it is more expensive when you're older and buy it. 99% of people should not use whole life as an income vehicle or an asset that produces income. However, on the other side.. if you're using whole life as intended: Premiums stay the same throughout your life. It cannot be canceled unless you don't pay the premium. Some policies are guaranteed issue, which means you can be turned down. There may be waiting periods, however.
Maybe i picked you up wrong, but would using the overpayment of the mortgage not be better used in the Stock Market? My current interest rate is 1.78% (UK Based) I had fully planned to over pay the house to get that debt down and pay less in interest overall, but if I'm getting 7-8% in the stock market, I feel that this money would work better here instead of paying down a small interest mortgage.
Once again an outstanding video from you guys👍🏽. I have term insurance, but I would really like to enroll and take advantage of the whole life insurance experience.
@@mskrisl7535 Hi- yes, it should be mutual (dividend paying). Go for someone with a long and consistent history such as Guardian or Mass Mutual (and there are others). Do lots of research, watch WN videos and write down what they say your company should have for this concept, read the book (Nelson Nash), speak with insurance agents, get all your questions answered- then make your decision. If you find that SF is not for you, whatever other company you choose (if so) should be able to roll over (some if not all) of what you’ve already contributed. Best of Luck!!
I will strongly advice you against self trading, it's really dangerous and had brought so many investors down, you need some one with the knowledge and strategies, someone dedicated to the crypto currency market buisness, and I will strongly recommend expert Mrs Anna
Hey guys, the interest growth in a life Insurance policy is not guaranteed...and the internal cost of the life insurance escalates as you get older. That cost is taken out of your policy each month. That cost is based on how much coverage you have purchased and can be expensive. The interest is also variable and can be changed each year. Life insurance as an investment vehicle s for folks who have zero debt and have saved everything that they need. It's not the answer for 80% of the population. Be careful with this strategy. I sold Life Insurance for many years. This is not for everyone.
Hi- Did you sell WL as well as Term? As nothing is truly ever guaranteed, my understanding is that the dividends are not a promise but the compound interest rate is locked in at the time that you start the policy. Also- it sounds as if the concept is for those a bit more advanced in their money management routine. I agree its not for everyone and it sounds like discipline is the first and foremost necessity to make this work for any person. I agree with you- 80% of the population wouldn’t be able to handle that. - Respectfully
I dont understand how to earn the compounded interest, if you have a loan, how do you go about paying it so that you able to earn the compound interest, thats all im trying to understand
If you borrow against your policy when you go to pay it back you’ll need to pay back what you owe plus 5% or more AND continue to pay your life insurance principal, right?
Do you guys have like a diagram or flow chart or something like that help me visualize everything you're saying? I get what you're saying, it's just that I'm a visual guy and I think the visuals would help cement the concepts better.
Questions: I know its different per person but based on your own experience When you borrow money on the insurance policy is it based on the entirety of the policy or just the death benefit? What % of the policy value can be borrowed? What's the interest rate on the borrowed money from the policy?
Thank you guys for the information you are giving me a deeper understanding of my finances. What do you think about using my 401k the same way you talk about using my policy?
great idea, which you totally can do. BUT, when you use the money in your 401k you affect the growth within the account. Plus, the hit you take with taxes... it's not exactly the same process.
Christopher a portion of your premium funds your base policy. You will undergo a capitalization period for a few years funding your paid up additions. After a number of years, your cash value increase will exceed what you’re paying into the policy on an annual basis. You have to look at it like you’re creating your own banking system and it has to be capitalized.
You will have to research and decide what works for your budget. Def get all the info and understanding before choosing a company. You can read up on it in Nelson Nash’s Becoming Your Own Banker. Best of luck!
I am interested as I have been watching your videos. I have just completed the book "Becoming Your Own Banker" by Nelson Nash. My brother and I will have a funds ready in July '22 to begin IBC. Currently, I don't have a mortgage, a paid out vehicle and CC will be paid off at the end of the year. But, I would like to have new ones in the future. Also, I have massive student loan debt (deferred to 2023). I want to use the IBC loans to work toward a passive investment vehicle that will allow me to not only pay back the IBC loan but the student loan debt, mortgage, and another vehicle. That is why I want to begin working with your team in July once I have the initial 10K start up funds.
If you guys would use a basic template with numbers and show just the specific benefits by numbers then you could be heroes. So be visual. The words seem good but still you lose your audience with much talk. Show the numbers
I really enjoy watching your videos. You both do such a great job of explaining these strategies in easy to understand Layman's terms. How many policies do you now own? And did you get a agents license yourselves, as you are very well informed about this?
Whole Life Insurance 😂🤣😂. You over pay someone else, not yourselves, & then you have to pay them back plus interest. So you are loosing 5% to 7% on your over paid whole life to borrow it. So your paying a baby sitter to watch your money,😂💥😂. Whole Life Insurance Guaranteed Since when ??? They tell you, that your earning interest, but they have to pay A CEO board members Insurance sale's men cold caller's or advertising, quarterly maintenance fees, guess what you get in the end game ( ZERO Compound) 😂🤣😂 check your fact's you two are so far off the Cliff 😂🤣😂
My only disagreement here with them is whole life. I think it’s such a terrible investment. Buy term and invest the difference. That’s always been my philosophy.
You don't lose 5-7% if you keep your policy and pay your premiums long enough. You don't make a great return, but get both a rising cash value AND a death benefit as well as tax benefits (much like a Roth IRA). If you can leverage the money in the policy to do other things, you can do well. Tell me what other investment can make around 4% (like a safe bond) and give you the ability to get loans up to 95% of the policy value around 3%?
@@johnp7739 I guess you don't understand what you read, try it again you loose 5% to 7% to borrow your own money period. That's what whole life insurance companies charge you to borrow against your policy Google it learn something then come talk to me. Also true those policies become absolutely zero as you age the built in term continues to rise, monthly maintenance/ quarterly. Any expert worth salt will tell you stay clear of whole life there a legal ponzi scheme & absolutely nothing more. Buy term to about 40 year's old & save the difference between term & whole in a free yes free bank account & do nothing more you'll have more cash & cash value. By age 40 you should be grown enough and paid off major debt assets such as house to stop paying even term insurance & save it in the same FREE bank account.
@@kennethcooley9917 No you don't "loose" that money...that's a borrowing cost which is part of any economic transaction. You can also get loans as low as 3% from certain banks against your policies--that's how safe they're considered. If you can't borrow 3% and make more than that somewhere else, you probably need to give up on investing. I'm not "Googling" anything because Google has curated/algorithmically-biased results. Your "free" bank account is actually costing you since inflation is MUCH higher than the 0.09% interest you're earning there. Stop acting smart and quit believing all the programming you're receiving.
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Mrs Anna is legit and her method works like magic I keep on earning every single week with her new strategy
Thanks for introducing me to Mrs Anna, Mrs Anna has changed my financial status for the best.all thanks to my aunty who introduced her to me
Mrs Anna is obviously the best, I invested $3,000 and she made profit of $28,000 for me just in 15 days, Her success story is everywhere
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Hey.... You can get connected to Mrs Anna with this number here 👆she is always online
I remember friends calling me crazy when I started but now I shut up them with my four figure weekly Returned I'm happy today because of Mrs Anna
Take ownership of your finances, watch our FREE masterclass, here: bit.ly/WealthNationMasterclass
⚠ WARNING: There are many fake accounts impersonating us. We will NEVER ask you to contact us through RUclips comments or WhatsApp. Our comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using our name and picture!⚠
Man love you guys from a small hood Camden Nj
I started a WL policy with upfront max funded PUA with Lafayette January 2020. Then another in January 2021 with Security Mutual max funded PUA. Now Im starting my kids policies with Lafayette. Paid off mortgage this month and now Im ready to get more into RE.
I would like to say I have found the definition of financial alchemy in this beautiful conversation!! I this topic been on my mind heavy thank you 😊 I’m 24yrs old the let’s do this 😎
This video is GOLD.
I did my interview! I am so excited about the opportunity to work with you guys on this journey!!!! I am in the process of getting my money together!
Great advice! But does this work in the UK?
Love your channel, great information?!
Some of my Favorite RUclipsrs EVER!!! thank you for this video
A whole life only builds up a cash value after a certain amount of time so how do you use those funds until then?
I would like to talk about the advantages of the whole life insurance policy
WoW! The knowledge these two amazing people are dropping are unreal! Most of my family & my parents included are imagrants, so I am the first gen born & raised in America. They don't know much other than work hard & safe more than you spend..... its a bit sad but thats all they were able to do & im grateful for it. Its up to me to show them these ("loopholes" "strategies") so they can retire & live in peace! I'll definitely be joining the wealth nation in the weeks to come! Bet on it!!
It is my understanding that cash value on a whole life policy grows over time. If that is the case then the ability to draw from it is minimal initially. I know that investing in a whole life policy is great but the older you are the more expensive it is to purchase. The cost also goes up the more coverage you have. Not only that, but the cost of a policy can be much more for someone who is less healthy, some may not qualify at all. What's the alternative for someone who may not qualify for these policies. Using your whole life policy as an instrument to borrow from is something in my mind takes many years to accumulate in particular if the goal is to pay off debt. Look forward to hearing your thoughts in response to my comments. Thanks!
So, you are right on all accounts:
Cash value builds over time and starts small. Whole life is more expensive than term. You can be denied for coverage and it is more expensive when you're older and buy it.
99% of people should not use whole life as an income vehicle or an asset that produces income.
However, on the other side.. if you're using whole life as intended:
Premiums stay the same throughout your life.
It cannot be canceled unless you don't pay the premium.
Some policies are guaranteed issue, which means you can be turned down. There may be waiting periods, however.
@@travisprice1325 Thank you for taking time to respond to my comment. Have a wonderful day!
How about LLC what do you guys feel about that and how do you guys use it to take advantage or to use that for your system
Great Convo guys! just out of curiosity, what is the interest you are getting on your whole life policy? I have a policy as well!
Great information
I have paid off all my debt except my mortgage. What is the best to pay that off sooner?
When u get whole life insurance how long does it take before you can get a loan?
U GUYS are a AWESOME ✌🏾
POWERFUL FINANCIAL COUPLE
on RUclips 💰💰💰💰💰💰
Good afternoon
Maybe i picked you up wrong, but would using the overpayment of the mortgage not be better used in the Stock Market? My current interest rate is 1.78% (UK Based) I had fully planned to over pay the house to get that debt down and pay less in interest overall, but if I'm getting 7-8% in the stock market, I feel that this money would work better here instead of paying down a small interest mortgage.
Once again an outstanding video from you guys👍🏽. I have term insurance, but I would really like to enroll and take advantage of the whole life insurance experience.
Dwayne have you looked into a crypto hedge fund, its compounding weekly with about 3%
So, what company did you use for that policy? I did a whole life cash value with StateFarm.
The cash value has to build up before borrowing correct?
State Farm is not a mutual insurance company. I personally use Guardian. They are able to build the policing much better I think
@@herbertjreid3rd253 So I should look for a Mutual Insurance company instead?
@@mskrisl7535 Hi- yes, it should be mutual (dividend paying). Go for someone with a long and consistent history such as Guardian or Mass Mutual (and there are others). Do lots of research, watch WN videos and write down what they say your company should have for this concept, read the book (Nelson Nash), speak with insurance agents, get all your questions answered- then make your decision. If you find that SF is not for you, whatever other company you choose (if so) should be able to roll over (some if not all) of what you’ve already contributed. Best of Luck!!
@@keela1186 I just canceled that policy. I'm speaking to someone like you said from a Mutual fund. Thanks
What companies and type of accounts do you recommend for getting started with a whole life insurance plans?
I would contact them directly, as I'm fairly confident that's part of what they do for a living is gaining clients.
I have one question Do I pay $10000 for the policy one time or every year
I will strongly advice you against self
trading, it's really dangerous and had
brought so many investors down, you need
some one with the knowledge and
strategies, someone dedicated to the
crypto currency market buisness, and I will
strongly recommend expert Mrs Anna
†𝟭𝟮𝟒𝟖𝟐𝟎𝟔𝟖𝟎𝟐𝟒█ ▇ ▆ ▅
My question is do I get the life insurance first I do I pay off the mortgage first
Please what is whole life insurance? How does it work?
If the interest is done on an annual basis. If you pay the loan off before the year is up do you have to pay the interest?
So the debt interest you pay back to your loan should be higher thwn 5%
Great information you guys I love watching your channel wealth nation all day
Where are the best places to earn compound interest?
You guys are right on time!
I was just thinking about this subject
100K let's goooo
Hey guys, the interest growth in a life Insurance policy is not guaranteed...and the internal cost of the life insurance escalates as you get older. That cost is taken out of your policy each month. That cost is based on how much coverage you have purchased and can be expensive. The interest is also variable and can be changed each year. Life insurance as an investment vehicle s for folks who have zero debt and have saved everything that they need. It's not the answer for 80% of the population. Be careful with this strategy. I sold Life Insurance for many years. This is not for everyone.
Absolutely!
Hi- Did you sell WL as well as Term? As nothing is truly ever guaranteed, my understanding is that the dividends are not a promise but the compound interest rate is locked in at the time that you start the policy. Also- it sounds as if the concept is for those a bit more advanced in their money management routine. I agree its not for everyone and it sounds like discipline is the first and foremost necessity to make this work for any person. I agree with you- 80% of the population wouldn’t be able to handle that. - Respectfully
Thanks
I dont understand how to earn the compounded interest, if you have a loan, how do you go about paying it so that you able to earn the compound interest, thats all im trying to understand
If you borrow against your policy when you go to pay it back you’ll need to pay back what you owe plus 5% or more AND continue to pay your life insurance principal, right?
I need your help to make me understand where to invest to make 20,percent interest.
Do you guys have like a diagram or flow chart or something like that help me visualize everything you're saying? I get what you're saying, it's just that I'm a visual guy and I think the visuals would help cement the concepts better.
That would sure help me also.
Facts
Questions: I know its different per person but based on your own experience
When you borrow money on the insurance policy is it based on the entirety of the policy or just the death benefit?
What % of the policy value can be borrowed?
What's the interest rate on the borrowed money from the policy?
Solid!!! Love being debt free!!
Who do u have life insurance with?
I’m interested in this
Thank you guys for the information you are giving me a deeper understanding of my finances. What do you think about using my 401k the same way you talk about using my policy?
great idea, which you totally can do. BUT, when you use the money in your 401k you affect the growth within the account. Plus, the hit you take with taxes... it's not exactly the same process.
Ok Thanks. I still contribute to the 401 so i assumed it would slow the growth but not stop it.
Is there a video where you break down how to do the life insurance premium hack???
Yes!!! Love the new mics. Way better for audio and it doubles as a prop for your videos. Way to up the game.
สวัสดีคะทำไมพาสเตอร์ริ้งใด้แค่14%เปอร์เซ็นละคะ
What’s the highest compound interest rate these days
Great advice!!
I don't see the link.
But how much are the fees and premiums you pay to hold the whole life policy, that doesn’t get added to the cash value?
Christopher a portion of your premium funds your base policy. You will undergo a capitalization period for a few years funding your paid up additions. After a number of years, your cash value increase will exceed what you’re paying into the policy on an annual basis. You have to look at it like you’re creating your own banking system and it has to be capitalized.
What is the best insurance company do you recommend?
Any thoughts on Wealth Financial Group Insurance? Just want to make sure I didn't make a bad decision. 😕
Interesting! Love it
,what if I save 20.00dollars a day.
I don't think you guys really understand how a cash value policy works
What is the interest rate on loans take against a whole life policy?
Which episode tells you how much these policies cost and what are the best insurance companies to use ?
I am fairly new to the business and appreciate your videos. I would love to talk with you both is there a way to get in touch with you?
What happens if insurance company declare bankruptcy? Do I lose money?
I guess I missed something before. I don't know how you can be your own bank. How much is the whole life insurance, etc?
You will have to research and decide what works for your budget. Def get all the info and understanding before choosing a company. You can read up on it in Nelson Nash’s Becoming Your Own Banker. Best of luck!
Hello
I am interested as I have been watching your videos. I have just completed the book "Becoming Your Own Banker" by Nelson Nash. My brother and I will have a funds ready in July '22 to begin IBC. Currently, I don't have a mortgage, a paid out vehicle and CC will be paid off at the end of the year. But, I would like to have new ones in the future. Also, I have massive student loan debt (deferred to 2023). I want to use the IBC loans to work toward a passive investment vehicle that will allow me to not only pay back the IBC loan but the student loan debt, mortgage, and another vehicle. That is why I want to begin working with your team in July once I have the initial 10K start up funds.
I wanna learn how to earn iit
If you guys would use a basic template with numbers and show just the specific benefits by numbers then you could be heroes. So be visual. The words seem good but still you lose your audience with much talk. Show the numbers
I really enjoy watching your videos. You both do such a great job of explaining these strategies in easy to understand Layman's terms. How many policies do you now own? And did you get a agents license yourselves, as you are very well informed about this?
I like the point you’re making on this video, very well put👍👍👍
Too much stalling, too many philosophies.
Whole Life Insurance 😂🤣😂. You over pay someone else, not yourselves, & then you have to pay them back plus interest. So you are loosing 5% to 7% on your over paid whole life to borrow it. So your paying a baby sitter to watch your money,😂💥😂. Whole Life Insurance Guaranteed Since when ??? They tell you, that your earning interest, but they have to pay A CEO board members Insurance sale's men cold caller's or advertising, quarterly maintenance fees, guess what you get in the end game ( ZERO Compound) 😂🤣😂 check your fact's you two are so far off the Cliff 😂🤣😂
My only disagreement here with them is whole life. I think it’s such a terrible investment. Buy term and invest the difference. That’s always been my philosophy.
You don't lose 5-7% if you keep your policy and pay your premiums long enough. You don't make a great return, but get both a rising cash value AND a death benefit as well as tax benefits (much like a Roth IRA). If you can leverage the money in the policy to do other things, you can do well. Tell me what other investment can make around 4% (like a safe bond) and give you the ability to get loans up to 95% of the policy value around 3%?
@@johnp7739 I guess you don't understand what you read, try it again you loose 5% to 7% to borrow your own money period. That's what whole life insurance companies charge you to borrow against your policy Google it learn something then come talk to me. Also true those policies become absolutely zero as you age the built in term continues to rise, monthly maintenance/ quarterly. Any expert worth salt will tell you stay clear of whole life there a legal ponzi scheme & absolutely nothing more. Buy term to about 40 year's old & save the difference between term & whole in a free yes free bank account & do nothing more you'll have more cash & cash value. By age 40 you should be grown enough and paid off major debt assets such as house to stop paying even term insurance & save it in the same FREE bank account.
@@kennethcooley9917 No you don't "loose" that money...that's a borrowing cost which is part of any economic transaction. You can also get loans as low as 3% from certain banks against your policies--that's how safe they're considered. If you can't borrow 3% and make more than that somewhere else, you probably need to give up on investing.
I'm not "Googling" anything because Google has curated/algorithmically-biased results. Your "free" bank account is actually costing you since inflation is MUCH higher than the 0.09% interest you're earning there. Stop acting smart and quit believing all the programming you're receiving.
Whole life is a scam. Sorry to hear you’re misinformed.
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