How the Wealthy Pay Off Debt and Buy Cars Without Using Their Own Money
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- Опубликовано: 11 окт 2024
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On todays Wealth Webinar Chris Naugle and Brent Kesler from The Money Multiplier explain how you can become your own bank using the Infinite Banking Concept (IBC). Brent gives examples of how to use the policy to pay off debt, buy cars and plan for retirement. We all have access to the same financial tools as the wealthy. They just know how to use them differently.
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DISCLAIMER. The information presented in this video is for educational purposes only and should not be taken as investment advice. Investing involves risk and any decisions made based on the information presented in this video are solely your own responsibility. We encourage you to do your own research and consult with a financial professional before making any investment decisions. We do not endorse any particular investment or investment strategy, nor do we guarantee any specific outcome or profit. Past performance is not indicative of future results and investing involves the risk of loss. Thank you for watching and we hope you find this video informative and educational.
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Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
Its unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $287k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I won't pretend to know everything, though. Her name is Vivian Carol Gioia but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
I have been my own bank for over 50 years, I bought homes, cars and everything cash , I enjoy being debt free and anyone who hasn't enjoyed being debt free is missing out .
Well could you please share your 50 yrs experience with me
How you make money?
Is it possible reproduce ?
Good luck buying a home cash these days as a younger person. The last 50 years have been the greatest bull market in human history. Almost impossible to screw up with some hard work and diligent planning.
It’s a different game now.
@DAAllan82 You can definately buy a home if your Younger, The problem with many people today is ,they seem to need a brand new car every 3 years ,a new IPhone or the newest and best expensive phone yearly or as soon as it comes out, , New Nike shoes ect They are caught up in a cycle of bad financial behavior because of their peers. I see kids, teens, and younger people using social media as a place to show off their possessions ,then try to influence and compare what they have and therefore influence others , Today the Internet is a great tool , The problem is ,we know its also a marketing tool geared towards young people to keep them dumbed down and poor.
when I graduated high school in the 70,s , everyone I new wanted to get out, be on their own,get to work, go to college and they wanted to be independant , I packed up my 2 bags within 7 days of graduating high school, took what cash I had saved and drove my van over 1100 mi to a city I never had been to and didn't know anyone, I just thought I would like it even tho I new nothing about it, I applied and had a job within 3 days making minimum wage ,Then I lived in my van for 6 years ,luckily I was able to park and stay where I was working and stayed out of the publics sight, I could walk to a store or I could drive if needed , I learned a lot of lessons because I was on my own ,other then what was in my pocket, I had to make it because I had nobody to fall back on,
After 6 years of living on a tight budget because I had no bills other then a little gas for my van, food daily that amounted to about 5 dollars a day at the time and some laundry that was about 3.00 every 2 weeks, I was able to save 80 percent of my pay , After 6 years of saving I was able to buy a small house on 5 acres for 18,000 dollars , I had a goal, I didn't have peer pressure or anything distracting me from getting what I set out to get. it was a struggle ,I learned if you want something ,it may seem impossible, but it is achievable even today but you have to stay focused on your goals ,leave the distractions behind and don't make excuses, your life and path you make is in your hands ,
@@julzhotti5466Seriously! The answer is in this video
I love how you take your time to educate your viewers we all strive towards financial stability and a better Life. It is easy to achieve this through the right investment, by living frugally and budgeting. I'm glad I learnt early in life to work hard for financial freedom
Even though I engage in investing, I feel disheartened by my lack of expertise in assessing the performance of individual companies and determining the optimal timing for stock purchases. The erosion of my financial reserves due to inflation adds to my concerns. At this point, I require precise market trajectory information, but I find myself unsure about the appropriate course of action.
Considering the prevailing economic climate, I recommend seeking a mentor or a knowledgeable advisor who can provide guidance and support.
I completely agree, which is why I choose to give an investment coach daily decision-making authority. Given their depth of experience and investigation, they are quite unlikely to deliver below expectations. Their area of expertise is in taking use of the asymmetrical potential of risks and utilising precautions to avoid negative consequences. For almost two years, I have been working with an investing coach.
Interesting, I could really use the expertise of this advisors, who's the person guiding you?
'Melissa Rose Francks' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
At 42, I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. I’m glad I found that out although it was later in life, but that marked the turning point in my finances.
Herman Jonas is the brain behind my success. I've gotten into a plethora of assets with $43k spread across stocks (options and futures) for the short term and Roth IRA, index funds, and ETFs, for the long term. Now I sit back, and just reinvest at intervals while I handle my other businesses.
Do not forget that when it comes to the stock market, prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors do not influence.
How can I reach him, please? I've seen good recommendations of his work elsewhere. I need help with investing. I'm ready to pay for his services.
I appreciate the feedback. I reached out to him via the mail you provided and we talked at length. I found him to be verified. I’m glad that I signed up and I've begun my journey with him. Thanks again.
So what do the 60% of Americans who report just enough money to pay expenses from one paycheck to the next do?
Your idea that Americans are all wealthy enough to invest, seems to be an idea that does not work for the Majority of American Citizens.
Or is this comment just another paid Investor Ad?
How many fools were around in 1929?
Fam this is the BEST financal advice video I’ve ever watched in my life! This is potentially life changing and all it takes is one simple extra step! And mind blowingly simple…I wish I knew this information 15-20years ago😭❤
Fam Scam
Lmfao what a joke
I have a zoom call with Jose from pmc, and am scheduling am appointment with Hanna from TMM team. I suggest everyone schedule an appointment with this team! They work wonders!
Do not let them lead you into this it’s a scam and you have to be really stupid at math to think that this works ! He is a fraud
Man, I am SO interested in learning these things never taught to me. However, I just have my job. I don't have any other excess income to put chunks into. So I wonder if it would even benefit a Kat like me who could only put a couple hundred dollars a month into.
But I would pay to shadow this man, and learn EVERYTHING from him I can, to get out of the employee world. And better serve my family. He's living the life I want, and wish I had these teachings coming up. My only real goal is to be able to spend more time with my family, and have the means to do so.
Don't admire him to much. Everything he said was done in the exact way a conman would pitch his next scam. Plus he started out as a chiropractor. Which is a literal scam cult priest. Chiropractic practice was founded by a man that was convicted of practicing medicine without a license, and medical fraud / malpractice for his role in chiropractic care. When he got out of prison he registered his chiropractic clinic & school as a religion to keep from getting arrested again. Anyone who becomes a member of this cult & bilks thousands of dollars from those suffering in pain should NOT be trusted. They definitely shouldn't be trust with giving you financial advice. Unless you want to be his next victim, or end up making others a victim for him. Could you live with yourself knowing that your wealth came from impoverishing others in your same circumstances. Others who just wanted to be able to spend more time with their family's, just like you. But thanks to your actions of following this conman, you ensured they will never be able to spend meaningful time with their family. Could you live with that knowledge?
???????
@@SIRELGORDO ?????
If you are young enough you can do it because of the length of time 😅
@@josephrobi6806 I am 38yo.nand just married the greatest feminine woman I e ever met who gives me power as her provider, protector and lover. And I'd like to learn the right way to use and set up finances in a way to serve us and give us freedom soon. In order to have time and resources to enjoy life together.
I had this concept to save $5k in a checking account and use that as a credit card. Treat it like a credit card with no interest, late fees and other crap that credit card companies rip you off with
tha'ts what i do, put a lump in a 5% interest savings account (several online banks now offer 4.5%+) and then use that as a credit card
You are leaving out a tremendous about of the details here. Like direct recognition vs indirect recognition loans (which has a huge impact on performance outcomes) additionally the use of Equity lines rather than loans to minimize direct impact to the policy in the case the policy is direct recognition, as well as the minimum and max paid up addition riders to these policies (which may not allow you to add additional interest when paying yourself back) that can get people into some sticky situations if they are not fully aware of their responsibilities. I would love to talk with you all about how you navigate these intricacies. The concept is great, but it leaves so many unanswered questions to the new learner. I do have two of these policies and actively use them when buying investments but not in the way of paying myself back with interest as there is only so much money that can be injected into them each year. Would love to hear your thoughts on how I could optimize.
Where's a good place to start digesting this?
You seem a bit knowledgeable on the subject! Do you do this for a living? Where’s a good place to find info on it?
I would rather hear your knowledge.
Sure wish you'd reply to these comments. Important interjection and I too would appreciate your further input
@@lilditty2172 yeah wouldn’t that be nice! It’s funny bc I was thinking the same exact thing just yesterday. I’m beginning to think this guy is just a full of shit troll.
CHRIS, BRENT, HANNAH SET ME ON THE PATH TOWARDS FINANCIAL FREEDOM... 💥💥💥♥️ THANK YOU‼️‼️
Your on a path to following their fraud !
This is not really an investment it’s so bad that IRS has determined that they can’t charge taxes because it’s only a reimbursement of your own funds ! Do not trust these
So nice to discover this video. I've been my own bank with my policies for over a decade; taught myself.
My ex husband does this. I was buying a home and asked him if he’d be my bank because I hated the idea of paying g a bank a mortgage and since we have a daughter and grew up together we are still like family and he loaned me the money so I could buy my home. I pay him 5% interest.
5% ? When did you buy the house? curious what the current bank rates were for that time...
Wow! This is mind blowing!!! I'm surely in for a new beginning. Thanks so much, Mr. Kesler , Chris and Hannah.
How many fake accounts do these guys have?
@@glycyldihaha totally. The wording is frigging corny that they must being paying someone offshore who speaks ESL. Lol 😂
SPOILER (valuable time saver):They want you to invest in Whole life policies that apparently have no risk and huge returns. But for some reason they need to spend over 2hrs to try and convince to buy them.
All you ever have to tell yourself is " If it sounds too good to be true, it's false".
Why would anyone EVER have to try so hard sell something that was so good!
Don't know about you but I've always found that when something is available to make you mountains of money without working any harder or risking anything, that people flock to it automatically without the hard sell.
You clearly weren't listening in those 2 hours. It's using the banking concept where you control the money. I opened my policy with somebody else, borrowed against my first months premium to pay off a debt. Rinsed and repeated that and 8 months later I was debt free and no longer paycheck to paycheck and I didn't increase my incom we to do it. This is literally being done with your money if you want it to or not because if you look up the #1 owner and purchaser of these policies, you'll see it's the banks. Who have several hundred BILLION invested with their tier 1 reserves. They spend so much time to make sure you know how to use the vehicle properly because we aren't taught financial literacy from the drivers seat. We have been taught to be in debt consumers. 🫡
@@briannatrybalski1266 So you BORROWED to pay a DEBT 🤔
The point remains. Nobody makes an in depth video like that because they made money from the scheme they promote. they make money from the video.
It's just like the "stockbroker" scammer doing the rounds on RUclips adverts, bragging about all of his homes and wealth. He will show you how he makes £30k before breakfast.....but for some reason still finds the need to spend £1,000's on advertising his get rich quick scheme. Purely for our benefit out of the kindness of his heart of course!
Anyone who falls for it deserves the consequences.
REMEMBER for those vulnerable people out there IF IT LOOKS TOO GOOD TO BE TRUE it is. IF IT LOOKS TOO EASY it isn't.
@@briannatrybalski1266so sad to see that y’all are falling for it while thinking that your financially literate
Practice your do dilligience n stop talking outta ur ass
I don’t think he’s trying too hard to sell it I think it’s a hard concept for people to grasp bcuz I’ve told several people about this and volocity banking. I broke it down and told them several different ways and they still was confused but when they go into the bank and the banker tell them to do this & that what their money they easily fall in line. So it’s a hard concept and he’s teaching it like we’re two yrs old bcuz it’s a new way of thinking….now I could be wrong bcuz I’m still learning but so far it’s looking good for I had to myself watch several different videos and people just to understand it and what I got is it’s basically like using a line of credit or a secured credit card but better!
I love this!!! I tell this to my husband we have to keep our money moving with out putting it in the banks. The dollar is loosing value with the more we printing.
I am 40 minutes into it. The presentation from Kessler is so Elementary I can't even focus. I feel like this should be taught to 3rd graders at this point
But it's not taught in school, and many of us were never taught financial literacy because our parents had no clue. Glad someone taught you, but the majority of us didn't have that advantage.
I have that same book and I had heard about the system before. But after I read this book. It changed everything I knew 💯💯💯💯💯
Which book?
I've tried to grasp this concept and still haven't understood it.... I had my insurance license and could generally destroy someone's whole life policy in lieu of Term and invest the rest giving them a much higher return... but I never came across this policy type or had this product available to me. THANKS A BUNCH!
Anytime you look at insurance with a cash value, you are always 10 time better off separating into pure term insurance and an investment vehicle. In the illustration at 59 minutes, if you work these independently the value of a 12% mutual fund return realizes over a million dollars that you own. If you die being covered in an insurance policy the cash value is kept by the insurance company your heirs only get the death benefit minus any loans. Do the math comparing a mutual fund to this scheme where the only one making real money is the Insurance company and the agent who got the huge commission.
That's because these are conmen who are selling whole life insurance policies. It's basicly one huge fraudulent commercial for the insurance plans they sell.
You cant do the math if you are assuming a 12% consistent return on a Mutual fund in the future. Those days are over
@@thedot66 Use 10 6 or 16 like I have averaged for 30 years. You can not buy a new car, and even a late model car, that most of us would want to buy for 25k. Go head and make the agent, and Ins Co wealthy by following this guy's advice.
The reality is that most elderly wind up cashing in there cash value and forfeiting their insurance to pay for elder care. $900,000 takes care of elder care and leave a great inheritance for your children's children!
What are the tax implications of various investment vehicles vs Life insurance loans?
Most aspects of life insurance avoids taxes in the US.
What are the interest percentage of the life insurance loans vs bank loans? Might work out better to take a loan via life insurance collateral vs regular bank loan.
The life insurance loan is against the general pool of the mutual insurance company rather than taking off your account balance that is earning compound interest so combined with possible lower loan interest rate it would be an overall better deal than a loan with a bank.
Since it’s paying back a loan, the money spent is potentially helpful for US tax purposes as well; I.e. your policy appreciation won’t be taxed like other accounts would under US tax law. I believe one is using the tax loopholes the wealthy paid congress to create for them over the years.
@@roberthealey7238 Other than the death benefit, any monies received from a life insurance policy are, as determined by the IRS, a return of an over payment.
So you are borrowing money you provided and paying interest until paid back to the policy. Plus don't forget the death benefit is reduced by any loans or interest that is owed to the policy.
You would be better starting a LLC or Corporation and lending money to the entity then collecting payments with interest.
There is no scenario where you are better of using an insurance vehicle to accumulate assets verses separating insurance coverage from your investment vehicle.
This whole argument makes one think there is a free lunch, believe me there is no free lunch when buying a product from any corporation.
Anybody that can get and afford 900k debt, does not really have money problems, they have a spending problem.
You don’t need to have money problems to do this. It’s a better vehicle to park your money as opposed to the banks.
Reading through these comments are showing a lot of the same misunderstanding. We have a life insurance account, we borrow from it, then we pay ourselves back instead of the bank. Never touching the principle only using it for collateral on the loan.
I am surprised this video hasn't reached one million views yet.
The most thorough, concise, & simply understandable presentation with boots on the ground practical examples of the Infinite Banking Concept I have ever seen. Going to contact Brent ASAP
Well how's it working out for you?
so what happened
Is it working for u?
@@jonathanwalters341I didn't get a policy. I'm almost 70 & the illustration provided was for a 90/10, 7 yr term rider & seemed expensive. I'm nearly out of debt. I've got bad experiences with real estate, so I'm not sure how to take advantage of the loan feature to help my cash value earn money twice.
Guess it didn't work out for him 🤷🏻♂️
I really enjoyed the presentation
you explained it in a way my brain could understand
This was a bit mind blowing...I've used my 401K over the years to pull loans for my side business and used to pay down my house and pay for other things. I didn't know you could use a insurance policy for this too...I will say that in my 51 years being alive, there is always a catch or some kind of down side....
I KNEW something like this must exist. Where do I get the whole life policy in South Africa.
Is this available to non US citizens? I am British and live in Thailand! It would be useful to let us know about this in the intro section, rather that watching the whole 2 hours and 22 minutes to find it's not available!
I would like to know this as well, as a Canadian citizens who lives at least part time in Mexico.
Did you find anything out?
@@ryanweaver3910 Yes, you have to have a bank account in the USA and normally that means you have to have an address there! However, I have Bangkok Bank here and they have a Branch in New York, so I am enquiring about having an account double there! Not sure on the answer yet!
Ray Poteet could not have said it better. Right, Brent? You bash compounding but that is exactly why IBC works. We are letting our money stay in the policy where it COMPOUNDS year after year-with no draw downs---hence the magical growth. We are NOT putting OUR money in motion but using the Ins Co money in the form of LOAN.
43:53 They really do compound it bahahaha, that is fantastic, what sick genius’ lmao.
interesting info. Policies only seem to be in US though. Only issue with savings in banks is the risk of losing it if they fail which is happening plus they can "freeze" your account on a whim too but it all makes sense.
if banks in the usa fail, savings are covered by the FDIC
It is also in Canada infinite banking. They are using life insurance policy to do that system without going through the bank system
Whoever name is printed on the paper owns anything it ever bought
I’m confused on a couple of points.
1)Pay yourself back plus interest to miscellaneous account? The money you’re saving by paying off the debt goes towards the cash you pulled out? Where does the interest come from?
2) typically how high is the loan interest rates and is there an originating fee?
3) typically what is the dividend rate?
Mostly I’m confused by paying yourself back to the miscellaneous account.
1) you are still paying interest
You're paying your loan interest plus an additional interest to yourself, building a pool of money that you can loan to yourself in the future. It's a structured savings strategy that plays on the psychology of the person and makes you feel more motivated/accountable if you identify as a bank to yourself.
It's a scam my friend,no insurance will let you take out money like this
@@garlicnaan1I have them, the’ve been around for a long time.
Consider adding a mortgage recast into your calculations. If you are paying a lump sum (usually $10k+) to your mortgage balance the lender will recalculate the monthly P&I so that the new loan balance pays off at the original maturity date.
Hi, I love this presentation, BUT, does this method work in Australia?
Nice I'm in England, semi retired and struggle, just love it, happy new year for all.
Same to you!
I am glad started now better late then never
Concept starts at 18:50 . Everything before that was a waste of time in the hype train. 23:00 he uses nonexistent math to "prove" 4% earns more than paying 6% annually. Math doesn't work on my calculator, he fudged something. Assuming you pay yourself the $483/mo at 4% annual interest earnings you could have $32K, but then you paid yourself and do not have the car. Not sure where the $30,500 comes from.
25:15 we learn about this very special whole life policy with "high immediate cash value". Given the previous math, doesn't give me much for hope. Then ties this back to the 4 and 6% difference which is not mathematically shown.
29:00 he makes sure we are talking about the same thing, money. Compounding stops motion of money. Which is totally false, as money is invested into a business that is moving and hopefully returning a profit.
" not one business in the world uses compound interest" totally goes against his initial analogy on the car loan which is compound interest.
"Even when you go get the money, the tax will be there on the money" must not know what a Roth is.
36:45 "how many people do you know are thrilled with how their 401k...etc is doing?" None, its supposed to be boring. Building wealth is boring.
40:30 claims that 40 years later your money only doubled. Obviously doesn't know much about the market and how compound interest works.
45:20 suddenly the math normalizes and simplifies? How come it wasn't as simple at the beginning of the video?
52:20 "The Machine" introduced. Whole life in a mutual company that pays dividends.
55:59 "the definition of an investment is something that can go up, and something that can go down." Which means that this "guarantee" mentioned less than a minute before is moot?
57:00 "a premium is a deposit. I know it is a payment but we need to look at it as a deposit." So he's not saying it so he doesn't get the SEC after him but he is convincing you to think $10,000 a year in payments is a "deposit" right?
1:01:00 he finally shows the actual numbers. $70k investment pays for $800k in coverage? Shoot, at 10% return that gives $7k a year. $1M in term life coverage is under $50/mo so I can pocket over $9k/yr on this and have the same coverage! I buy the car 3 times over in those 10 years!
So is it worth it? I’m about to click out of the video, I am 10 mins in.
@@blazertooth7763 nope, wasn't worth it. I only made it an hour in and gave up.
@@blazertooth7763yes it is.
Thanks. You saved me the most valuable asset: my time.
You carry an agenda!
kool, finally someone wants to tell people how it is done. I even ask chat so this is is smart- thanks
Could you guys help me set it up if I live in Australia? Or is this only available to Americans?
Love the video very informative and interesting
I'm glad I found this vid. This might be the solution to my present predicament.
Really appreciated this video entirely. Great value given, with such clear and throughly given break down. Thank you for making it make sense. Looking forward to acting on applying the information.
Can you please explain how he is taking loans out, repaying himself to a ‘misc account’, but never paying the loan back to the policy?
Then he drops the next year’s premium and a percentage of that premium becomes available again as if he wasn’t already indebted to the loan he took out last year.
It’s a scam
According to another video, the loan is taken out of the payout when the insured passes
He explains the miscellaneous account is the bank account.
So I just finished reading second chance from Kiyosaki, but I saw no mention of insurance anywhere. I have a policy, but where exactly does he mention it in the book?
Getting all of your money back would be having more than$130,000 at the end. 😂 😂😂
Hi Brett I'm watching this from Australia can this concept.can also be apply here and how? Thanks
Rudy
I use money from my own bank, my bank print unlimited money. I use money from my bank to buy car, home, apartment, etc 😅. So i never worried again about money.
Yes I'm still driving my 2005 Chevy Impala.
What if the life ins policy company goes belly up. There goes your bank ? Or not ?
Think about it like this: what if a bank someone put money into goes belly up... would they lose their money? Just as banks are secured so are insurance companies. Banks are secured by the federal government. Insurance companies by the state government. You cannot lose your money with a life INSURANCE policy because the money is DEPOSITED not INVESTED into an account where your money is INSURED.
@Eudaemonia360 depends on the policy. A LIRP, in fact, invested
I'm in Canada. Who would you recommend here? Or could you do it as well?
Why doesnt he include the amount of money you need to pay back to the insurance company for all the policy loans you take out to pay off your debts? They would be loaning you the money at around 5% interest
This is what gets me about this whole thing. He's explaining it as if the interest rate for taking out the loans against the policy is zero. None of this makes any sense unless the rate is lower than with a bank. You could do the same with a line of credit against a home or investment portfolio. He's just suggesting a whole life policy as the best vehicle to borrow against. Lucky for him, he also sells them.
In essence, he is suggesting something like Dave Ramsay's Debt Snowball (though, Dave suggests paying off smallest to largest debt, not highest to lowest interest) However you do it, the idea is to pay off one, then add that payment on top of the next to pay it off faster until everything is gone. The problem with what he is saying is that he is missing the other side of it. You also need to get your expenses low enough and/or income high enough to be able to afford that kind of repayment schedule. Ultimately, if you could afford to do it this way, you could afford to do it any other way.
This may be a bit of an aside, but when he mentioned he was a Chiropractor by profession that raised some flags for me. Once a snake oil salesman ...
@@drumguy1384 The Chiropractor raised red flags for me as well. "Lucky for him, he also sells them." I loled.
@@drumguy1384 "You also need to get your expenses low enough and/or income high enough to be able to afford that kind of repayment schedule." - that's the secret right there - and invest in a fund for the compounding interest.
@@drumguy1384Yup. Chiropractor = conman.
Interesting that I'm his profession he makes money similarly, I don't assume this doesn't work based on that, at least he's scamming a business not individuals
question : is this set up to be tax free? When I was introduced to this to this type of system it had a feature by which you'd tied it to a living family trust, so that it was all tax free you bought everything into the trust so the trust owns it & there by removing taxes of all types as well as removing the liability on the assets . I found this via a book "what would the Rockafellers do " best book I ever bought.
This is set up to scam you, check his math by hand and its all wrong.
It is all tax free.
Good content. Saved a ton of time. I currently borrow from my 401k. Certainly not as good but a similar principal
you pay interest on the loan and stop collecting on the policy don't you?
But you when youb orrow your money goes down
Interesting concepts, thankyou for sharing. But I’ve doubts that this will work in practical, there are investment instruments/tools that can do far more better than this policy. It’s the miracle of compound interests afterall
What I am really wanting to know is how they assure the growth of capital- the inflows. And if it is truly an uncompromising dividend-paying whole-life policy that accrues dividends at such rate every month. That is the gist of the system. By having continuously growing dividends and being able to turn over that asset by eliminating the liabilities and acquiring more assets with it that produce income, that's where the power of wealth accumulation happens.
😮
Question!
In the example he goes through… what happens to the money that is put into the miscellaneous account? The money that was once used to pay off debt.
First of all, thank you for providing this information; I want to do it. Although, I dont understand in any situation do you owe 5-10 creditors/loans with interest and you can simultaneously afford to put a $25,000 lump sum to to a whole life insurance policy to begin to pay these things off. Obviously if you have this cash laying around you can start paying your debts off and also put extra in a policy. No one has this much debt and is also putting back $10-25k per month.
So how exactly would you start? A person couldn’t possibly start if they break even every Month or even can put back as little as $100 per month
This is just like velocity banking. My question is the same as yours. Where do you get this chunk of money unless it's a loan? AND how do you pay the loan AND your debt at the same time? I can find which cup has the pea under it.
😂 I was thinking the same it’s almost one of those great advices that only benefit the rich in society who already have the money in the first place and make more out of it. The poor dog will only pay his debts without ever making a dent or the opportunity to make money work for him 😅
Was so excited to start watching the video but it got more and more delusional
This applies solely to individuals who can leverage all government-approved tax-free investments and lack alternatives for concealing their capital gains. It's crucial to remain unbiased. Additionally, there's no assurance on the growth rate of this investment, similar to others out there, except for the guarantee to maintain your growth rate at zero percent in the worst-case scenario. However, borrowing fees and associated costs for these types of insurances are notably high, especially for those with a very small investment.
Thanks Chris, honestly bro… I’ll be back with a testimonial.
There is something I don't understand about what's on screen at 1:15:00. How does paying off your car loan add up to cash value available? As far as I know, the bank that gives you the car loan just holds the life insurance policy as collateral. The two accounts don't get merged. So when you pay off the car loan, you don't add to the cash value of the life insurance policy.
I believe you use a policy loan instead of getting a loan from a bank.
Is whole life and infinite banking the same and if not which is better to use as your first life insurance policy out side of your job if you don't have a lot of money to put in to it in the beginning
would be interesting if such a service was available in Canada. There's so much secrecy in this category in Canada.
I'm debt free. Trying to wrap my brain around how much you'd make not taking a loan. The discussion includes the interest that you'd pay yourself. I understand the principle of making the $$ work through a loan and then paying yourself back with interest. And it sounds like you'd still make interest on the entire 'policy'. Also would like to understand the expenses of the policy to maintain. So I can understand the interest minus the expense on the 'policy' without the 'loan' to yourself. I guess I still have questions.
Same. On the surface it seems like a debt snowball with extra steps, but if the policy continues to appreciate, it might work out to be worth more in the end.
Its simple really, you don't need the first hour of hype to do the math.
You pay $10k/yr in premiums.
Around year 6 you have a "cash value" you can borrow against. So he says you do, and buy a car borrowing against your plan.
Now you pay $16k/yr to keep it up and cover both the loan and premiums.
By year 10 you have about $900k in whole life insurance. You have spent over $120k into the account and now have around $90k in "cash value".
Or if you follow Dave's plan:
Pay $50/mo to get term life insurance, costing $600/yr. For about $1M in coverage.
Stick $9400/yr left into a mutual fund.
At 6 years you have $76,500 in there. Pull out $25k and buy your car outright leaving $51,500 in the account.
Keep investing for 4 years at $15400 ($16k - term life costs because you magically have this income according to his math).
Now you have $150,668 in your mutual fund and you still have 10 years left of only paying $600/yr in term life. Stop contributing and let the account pay from here out and you're still ahead.
@@MrXzylonx but why not use the same strategy of paying yourself back but with a bank account. Instead of having a cash value of $90k after paying in $120k, you'd have the entire $120k. Unless the whole life policy appreciates over time on its own?
I like the strategy of paying yourself back with interest instead of paying a lender and having the money basically go to waste, but when he isn't accurate when he says you get all your money back and make money on the car purchase. You still paid money for the car and then paid yourself back with your normal income. Unless I'm missing something?
@@thejunkyardnecromancer if I am reading your question correctly, you understand this exactly. The whole life policy is effectively costing you $30k over the discussed life cycle. So that's what, $2k/yr over 15 years? Term life is $600/yr for a bit more than their legally mandated minimum closer to $1M than $800k. And you don't have someone else holding your money pretending they are doing you a favor while they take all that from you. Plus the "cash value" isn't actually cash you can use unless they give you permission. The whole life policy doesn't appreciate over that time at all though, it seems to get more expensive the longer you go compared to investing your own money. Significantly more expensive if I did my math right.
@@MrXzylonx hmmm ... I see. So really the only benefit of using the whole life policy to do this is that you have life insurance for a decent deal?
In this presentation when they refer to "Cash Value payment," is that another way of saying "Policy Loan"? Yes, yes, I get that reading about "Infinite Banking" from other mainstream sources, like the market watch article I read, may not contemplate the herein referenced "designed and engineered Whole Life Ins policy" - but I just want to make sure. I do recall Mr. Kesler saying "you don't have to pay back the cash value payment" because it's paid back out of the death benefit. I think it would be very important to know if the cash value payment IS a policy loan that has (simple?) interest on top of it at a certain amount. Anyone who's practicing this, would appreciate you sharing your experience and knowledge. Thanks in advance.
So ur putting $ into this policy and take out some to buy something and then u replace the money just like a regular bank account. But u say that it continues to grow uninterrupted even tho u just took money out? I dont understand
question for starters. Can I use a chunk of money to take care of premium, take out a large loan from my 401k, pay back that 401k loan with a loan from my whole life insurance, then pay back myself what I would have been paying to the 401k loan?
😂 no
no sure why that was funny, but thank you for the answer.@@jdev232
The last 3 cars I've bought new have been with less than 1% interest. I'm always looking for a place to park my money for the highest interest. im interested in what this video has to say.
Wow 1% is awesome I'm at 13% 🤦♀️
South Carolina LIHEP program only pays out once a yr? How does that help a disabled person and snap keeps going down my disability check went up 35 💵 and snap went down 30? So I am only receiving 290 for me and my daughter....how is that helping I need a new roof on my home that I own what advice do you have for me?
Great information. Now translate that to Finland and it's insurance companies and whatnot. I don't think this possibility exists here. Unfortunately. Maybe I should start this type of insurance company... Hmmm..
It sounds good as long as it’s not connected to the stock market or real estate but I’d like for him to explain how this isn’t a Ponzi scheme
I'm sure you are well aware of what a Ponzi scheme is. If you are then you wouldn't need an explanation as to why this isn't a ponzi scheme. The very definition is self-explanatory.
Fiat money is paid for by future work. No wonder rich people hoard gold.
@@Eudaemonia360 what part of “explain how this ISN’T a Ponzi scheme” didn’t you understand”?
@@moneymatters983 😆The DEFINITION of a Ponzi scheme EXPLAINS why this ISN’T a Ponzi scheme. It seems your comprehension of this video is lacking, respectfully.
I think what this guy is trying to ask is what company is holding your $10k per year and what are they holding it? How are they generating a guaranteed 4% return. Etc who is holding all these dollars year after year and how can I trust that they won’t pull the rug out from under the company
Do you have a affiliate program! I am setting to up to build a community and this is my end goal, and to be able to not only take advantage but be able to pass in this info and connect my clients with your guys would be epic! Please let me know.
Why buy multiple policies if you can keep adding to one?
Because of MEC Rules. Later on amount you are allowed to put in slows down. Depends on different factors. So you get more policies to stash more money as your income gradually grows through investments.
I think that i have heard this before but was obvilious to what you said .. much to my shagrin.. i am 74 years young ca it still work for me and I have a couple of unusual challenges which I will require your help in overcoming.. how can I get in touch with you and talk on the phone?
Can Australian people setup a whole life insurance in USA ? We don’t have in AU since 1992
After all the debt has been paid, what’s the loan balance on the policy? And how long does it take to pay off once you redirect the cash flows to it? Because that would be the real point when you’re debt free.
That is definitely part of the process to recapture money into your system. Our team helps with the implementation of debt pay off and can help you map it out.
@@TheChrisNaugle
He is asking you about the presentation itself, and you are trying to divert to create an advertisement for your business.
I don't quite understand 2 things. 1) if I have $10,000 in and I take a loan of $1000. The $10,000 is still there making money off interest, but when I pay the $1,000 back does it become $11,000?
2) when taking a loan from Bank the interest on the loan goes to bank. But if through the infinite banking here, the loan is given by the insurance company, why are they not getting the interest? How are we getting the Interest.
Congratulations, you are the only person that is giving me a lesson that is worth it
Thank you..
And here's another secondary account, or bought & paid for comment.
Sir,thank u for explanation.Is your premium policy,based where exactly pls.If I have huge depth over 8000 euro to pay or settle.i am in need of help.Sir Brent &your team.
Thank u thank u
No debt and I am putting 30% of my income into a 401k. Too much sitting in my bank account. I think I need this policy!
Someone once told me that 401ks are for poor people. It took me a bit to figure it out, but he was right.
@@TinCents someone told me I make too much and need a way to shelter some of it from the tax man!
There are much better ways Than locking it away and letting other companies feed on it
Geez! Ain't you just lucky that you have too much money just sitting in the bank, while in the meantime people are struggling to live, animals are being mistreated & starved.
@julzhotti5466 well aren't you just a breath of fresh air. Somehow making money is luck and if you make "too much" well you're evil. SMH 🤦
I calculated having $32 021 in the bank if i paid off the car loan with the 25 000 and started paying myself the car payment 483.32 at 4% annual income. Seems like the same long winded mixed up ideas that only make money for the people writing books and selling their courses.
Do you have to pay a premium every month ,or year. Or can you just start with a lump sum (say, 50,000) one time and, work off of that?
can you do this in Australia?
help me understand how we can BANK on the insurance system to remain the same decades from now?? Nothing seems to be anything like it was even a couple of years ago. It's scary when you're talking folks money.
Love this recording. I am resident in the UK do you have any brokerage firm you are working with in say, London?
It sucks giving myself pre approved no interest loans. I just hate having a budget that's flexible. I hate having shiny objects like silver and gold and owing things with titles and ownership rights. Be your own bank.
Either another fake account, or a bought & paid for comment.
How come you factor in the monthly payments you put in on top of the premium. it feels like we actually put in more money than the premium.
How come you don’t factor in the monthly payments?
Monthly payments are for the money you borrowed to buy something. You have to pay the loan back. You are just paying yourself instead of the bank, so your money gets recycled in your insurance plan. The actual cost is your premium. It takes money to grow money, but once you have a little to work with, you can start recycling it and there are tax advantages. I would definitely read the dine print though to make sure you are capturing all the interest and that you can borrow as you want without permission. The WLPs I have looked at are not so, but I just stumbled across this and havent seen their policies.
Can I an Australian sign up for a policy ? Australia banned these policies which is frustrating
Hi, I’ve been listening to all of what you are saying about whole life insurance I’m not at the end yet I see that he owes 450,000 and he’s going to put in 25,000 the first day. I don’t understand why you are saying he owes The first loans that are paid off. It says paid off. I am assuming you are going to explain it soon. That’s where I am now at your video. I’m not finished with listening. Everything seem good what you were saying at the end I will know where I will get this policy that works this good I’ve never heard of it. I had whole life insurance it didn’t work that way. Thank you.
Australia has eliminated whole life insurance policies with superannuation (similarly 401k I think). Can a Australian or non US person create a policy in the US? Thanks
I live in UK does this apply to UK.
It's a scam guys,no policy will allow you to do this.
The only ones making money is them selling you the policy.
Is there a Cliff Notes version of this? Im over an hour in and we're still not to the HOW. Lots and lots and lots of WHAT. Over an hour of laying pipe and still no water. I guess the RUclips watch time pays well.
Quick question, in a case where I’m young and renting an apartment, is it best to pay out of pocket the rent and utilities or would I pay everything into the policy and take out a loan for the rent? Or maybe use a credit card for rent and utilities and pay that back with the policy? Or am I overthinking this?
Paying rent/utilities out of pocket and funding your policy with remaining disposable income is perfectly fine. This concept is most powerful when you have larger expenses like a mortgage or car loan that you can pay yourself back for.
You could pay rent on a credit card and then pay back the credit card balance each month from a loan taken out against your policy. This allows you to start recapturing some of that money. However, credit card interest rates are high, so this only makes sense if you pay off the full balance each month.
Another option is to take out a small policy loan each month for your rent payment. This gets the money cycling through your policy earlier. Just be mindful of loan interest costs and pay yourself back over time.
You could also save up policy loans for a larger periodic rent payment (quarterly/biannually) rather than monthly to minimize loan fees.
Overall, don't feel like you must force every single transaction through your policy when you're young and have smaller fixed expenses. The power really comes with larger recurring costs. But utilizing it incrementally for rent/utilities can be beneficial too.
THANK YOU GUYGS SO MUCH GOD BLESS YOU CHRIS, BRENT, AND HANNAH!!!! THANK YOU GOD SO HAPPY I FOUND THIS!!! I WILL BE BOOKING A CALL VERY SOON!!
Thank you!!
Here’s where you can book your call with the [BYOB] Money Mentor Team: go.oncehub.com/TMM-Coaching looking forward to connecting more with you!
Better hide your credit cards and social security number on that call….
Does the compound interest paid to me, come from my funds, or from the insurance company?
Im not understanding the credit card portion if you are paying the creditors how are you paying yourself? Unless u mean once the cards are paid u just continue adding the payments to yourself? Not getting this part.
Really love this butt wondering if there is something similar to this in Canada. I currently use sun life and see they have a whole life policy as well, just not sure if its similar to yours above.
Likely not
hello i live in ecuador, what kind of policy have i look for instead to apply this ????
Lmao never trust anyone with a desktop that looks like that 😂
haha. so disorganized and untidy.
Heck, never trust a chiropractor. 😂
What is the alternative for The Netherlands please, and would it be possible if there isn't a Dutch alternative, to start on this from The Netherlands, using a US bank account and insurance policy etc?
Hey guys, love the advice. But do you have any for me who is about to retire on a pension and small amount in my 457 deferred compensation fund? Love to hear any further tips!
I put them towards tfca but in August I can take them all out. What should I do? What are you suggest?
Most insurance agents don’t carry this product. I have two agents in my family and neither of them knew about this until I told them. Now they are moving their 401k’s over to the whole life. This is not common knowledge in the business. It’s been around since the banking system was created.
Well ain't they just lucky that they already have 407k. Unlike the rest of us poor suckers
Just a question, my Insurance company will give me a 30% cash back of my first years premiums, therefore, taking a loan out a month into starting the policy, is this still possible, could I still do this, is this what you mean I could do also? Cheers.
Yes but what company sells whole life? Most companies don’t or you have to pay into for a while before you can do that.
Which specialty engineered whole life insurance company do you recommend?