How To Be Your Own Bank - EXPLAINED | Chris Naugle
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- Опубликовано: 28 авг 2024
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#Cashflow #banking #money #creativefinance
BYOB starts at around 9:35
Too much showmanship. Just get to the point.
Nelson Nash wrote “Becoming your own Banker” he was the first and I used to have him come to St Louis to do seminars. You have to pre fund the policy and this makes most people shy away. It works but it takes discipline.
Discipline is something i have in great supply.
How much is minimum to prefund. The best deal in the world is worthless if don't have the money
Not just discipline, but it takes a lot of money to start it and it doesn't have results for 10yrs
How did you get Nelson to come out and do the seminars? Why'd you stop?
Brother, my name is Jay Fernandez and I just met you because I caught one of your videos. It was at the right time. It's always the right time when something comes up. That's what I believe. Anyway, so I'll be giving you a call at the phone number that you guys have on this website. Thank you. That was awesome out of this one. World.🙏
The "We have to give, so that you could get" statement, near the end of the video, highlighted what I desired to know: Only someone who sees the big picture, and is selfless enough to gain through first consistently and repeatedly giving, would allow themselves to be a path to others being their own bank. Well, that's one of the most beautiful points I got from the video. And I appreciate it. Thank you.
You just explained this better than anyone else on here. Thank you
Im a banker, this guy is an idiot, he doesnt know what he talking about.
He is a liar and a fraud ! There is no one rich that ever used insurance as a bank that’s more lies from this fraud
I've heard the BYOB for a bit now, but this explanation is superior to anything else that I have seen to date. Amazing work~!
Love this production!
What about a reg Joe who works a 9-5 who doesnt have 10k - 50k to start?? How long do we wait until we can touch the cash value?? How long will it take to build a cash value?!
It takes about 10yrs
Watch some of his other videos.
Nailed it
I watch everything
😊 thanks
You couldn't have explained it any better and in a way of reaching through the walls people always put up when they hear Life insurance..!
Dude, skip the theatrics and get to the point.
OK, I take it back, pretty good presentation.
Scaring me….. You just need to listen 😂
The theatrics are hilarious 😂
No one goes sadly
He can’t skip the theatrics because you might accidentally find the costs he doesn’t want to talk about 🤣. And if you find that part out, how does he make his commissions for selling you something?
This guy is not lying.... Exactly the truth....
Bro why have you not made it to 10billion followers I'm so ready to get started
Love your explanation ! So precise and clear and easy to u derstand! Woow awesome knowledge ! Love it! Bro! Thank you! Love this infinite bankinng a vault of gold !
What companies do you recommend? Mutual companies I love, which are the top 2 or 3 to work with for IB specifically?
Very well presented. I have just one question. And you addressed it a little bit. So I can be my own bank as long as I hire a third party (you) to help me? Is that what I heard correctly? If so, isn't that the same (or close) as using someone else as my bank? dude, I'm a long time consultant (not in banking). And my goal has always been to help my clients succeed. But using a consultant isn't also the only way to be your own bank (or to help yourself be successful). Can you help me understand. Again, thanks for your presentation. It was very powerful.
I do not start getting a dividend until year 2 of my policy.
Great video. Much appreciated!
BOOM!! Thank you for this Chris!
Thanks Chris, this is awesome!
Really great explanation, and I've only seen a couple of your vids so far! Sometimes its nearly IMPOSSIBLE to get this through the avg joe/jane's headspace because it really is simply too good to be true. But if they read the tax code... umm that book that was designed for the little guy/gal/consumer? noooo no it was designed for the BIG GUY the BIG CORP to make money. Yet these policies have been around and are one of the oldest and best tax shelters allowed by law!! And of course adding that balance sheet rider is KEY. 6 figure residual over 6 years, yes ma'am. Thank you for the content please keep it up and I found you by just seeing the PMC launch. Awesome and amazing sir!
I’m still confused, so how do I creat my bank? Like what’s the process?
$100,000 and Whole life insurance Loaning out the money once you can touch it and it accumulating more cash value over time.
I just discovered this concept and its made me curious. My main question is what happens to the PUA at the time of death? From my understanding the beneficiary would only get the base and the insurance company would get the PUA. Am I wrong? Or do you start pulling out all your PUA before the inevitable?
So this is how you can resurculate and multiply your money❤❤❤
I’m ready
Does this system work everywhere? I mean, I live in the Netherlands and love to become my own bank!
Yes, it does. And you don’t even need a whole life. Just start investing, never touch those investments, so that you don’t interrupt your compounding, and whenever you need some money, just take out a loan from your bank. It’s the same thing.
You can. Lafayette does this I can help if you need it
@@MA-dn5fi do you have more info?
What about all the things like transferring money,paying bills using CARDS instead of cash…?
This is badass Chris - brilliant explanation in layman's terms. Because of this video, I'm signing up and will be patching several people into this too.
Did you find anyone to help with your policy?
That is great to hear!
The biggest reason people without money don't do this, a reason I don't ever hear explained, is that you have to have the personal capital in the policy in order to borrow against it. So it sounds good, but only if you have the initial capital, no?
Remember why life In a magical world
Thx for the info. I’m in Toronto and I do want to get this policy. Please let me know if you have anyone in here in Canada. Thx again.
And because they believe in that because they use it well
Awesome video!!! Loving this content. 🙏🤓
Great video, would like to learn more. One quick question, can you preload a policy and take advantage sooner, or is there a rate limit that you cannot exceed per month to “fund it” (essentially) through policy payments? Thanks!!
I set up a video that answers many of your questions. The link is here:
moneyschoolrei.com/masterclass-broadcast-chris
I need to know how to do this in the UK, I've talked to life insurance firms and they don't seem to understand what I want
i love it
Accumulated cash value: Whole life insurance policies generally take several years to accumulate a substantial cash value. Typically, it takes around 5 to 10 years for the cash value to build up significantly enough to support borrowing.
Whole life insurance policies typically include a cash value component that grows over time. The policyholder can borrow against this cash value, provided that there is sufficient accumulated value in the policy. The specific rules and options for borrowing from a whole life insurance policy may vary depending on the insurance company and the terms of the policy. Impact on policy performance: Borrowing from the cash value of a whole life insurance policy can affect the policy's performance. Outstanding loans may reduce the cash value growth, policy dividends, and potentially impact the death benefit.
So this will work if you can afford 800-900 dollars a month in premiums then pay off your loan which you hope to make more money on. This only works for the Rich, average minimum wage person can never use this tool. Best bet is to use your own money and charge yourself interest. example saved up 10k. i want to buy tv for 1000$ interest rate currently 6.85%, setup a payment to pay it off in 12 months. Repeat the process. 401k invest in more dividend stocks that are stable, REIT stocks. other bonds. keep putting the money back into it. other things you can do with LLC but that is for another conversation. stay sharp and know the truth, bc if it was easy everyone on the block would do it.
I'm with you on this. Thanks!
You see control
You see hu is in power and what they are going to do what ever I want
Are you able to also set up COLI or BOLI?
Cash flow well illustrated!
You know how much which craft is used in the money
Chris , your heading should of read Dave Ramsey is wrong on Wholelife Insurance
Hello, thank you for the info!. What is the difference between this and an indexed universal life insurance policy?
So when you go to open a whole life insurance do you tell them you want a specially designed and engineered policy?
Great video...Roger is a mess 😂 😂
Many banks offer life insurance. They partner with life insurance companies.
You seem smart why would you use an Apple watch? Try looking the RUclips Channel the Urban Gentry, i like Casio and Seiko, oh and thanks for the info.
Control the people make a value a need for life for thinks so what they to put something in it and control the people why they put in it live
@Chis Naugle I am in Australia, can my partner and I have a whole life insurance policy set up internationally to be an infinite banking system? Do we need to have it set up on us as individuals or set up for our business when we get that set up?
You don’t need to be a US citizen for Lafayette. If interested I can explain
I didn't see further down the coments but my question is..how do you start to be your own bank? Which account will you use?
The Unicorn of Finance right there....🦄
The interest the Life insurance co charges on the loan fluctuates as well as the interest and/or dividends they pay outso explain the case scenario with today’s rates and let’s see the numbers. To the point.
From what i understand. You open a whole life insurance. You put money in that account. You borrow money from that account, you pay yourself interest. Rather than pay the banks interest. So no matter what the money goes back to you, even if you're paying interest.
🎯
Money really benefits your family in the end once you die. You’ll just never see it
@@ahconscience4279this is absolutely not true at all.
Isn't paying yourself interest just "putting money in savings"? Like if you bought yourself a $10,000 item and paid yourself 10% APR or $83.33/month in interest.. you still had to make that money to pay the interest. Why wouldn't you just pay for liabilities with cash and invest $83.33 into the market where you'll actually make interest.
@@Alex-hl8rk you're not understanding the concept of "Be Your Own Bank"
IF you're going to buy something on credit (or loan) THEN take a loan from your policy pay the interest that you were going to agree to, but to yourself instead.
Think this the insurance of banks
I want to implement this concept in my life but I have 1 question. If I put my entire income into the policy rather than a traditional bank how to have the funds to pay my monthly bills like utilities, cell phone and living expenses?
Can only speak for the tik tok that made come to this channel, basically 2 videos. Sounds like we have to “front load” a policy that will kick back a dividend return that equals your monthly expenses all while us still having to pay the monthly premium into the policy. Front load 75k with a policy that kicks back 5% is $3,750 monthly to you (not including the policies fees) then we continue to pay 25k yearly which would be $2,083 monthly giving to the policy (which i personally cannot do but this is the “max funded account” everyone talks about). So technically the policy pays for itself at this point without your monthly input but again this isn’t including the fees associatedwith the policy such as 1. Premium expense charge, 2. Monthly policy fee, 3. Per unit charge, 4. surrender charge, 5. Index account charge… which is all subject to whatever company you choose. I’m not against any of policies out there but i CAN’T STRESS ENOUGH that it needs to be POROPERLY STRUCTURED. Which nobody talks about cuz they want you to buy from them and good luck finding more information because of the previous mentioned in this sentence.
I could be missing a couple points and variables so I’m hoping someone will correct me or add info for you.
You land money from the insurance policy with lower interest, and than you pay your Credit card and bill’s debt when is your due date, and than you empty the credit card, and put back the money into the insurance policy, so you don’t have debts there. On top of that you earn 2%, so slowly your credit card debt will be lower and lower, and on the other side you get compound interest, that is tax free… I hope I have helped you a bit @edgardo ventura
You can ACH or have a check sent to you. If you need help I can
@@MA-dn5fi I need help
does this work internationally?
So I have to pay interest on the money I own. Got it.
please dont judge a book by its cover let him speak please hes a human im learning what hes saying hes right
KINDNESS APPRECIATED
I would like to start out with a chunk from a savings account. But the bank I have the savings account with also provides a credit card with a nice limit on it. Im afraid that if I remove the savings account, the bank may cancel the credit card. That would crash my credit score. How do I mitigate that ?
What company should I go with so I can open an whole life insurance so I can start becoming my own bank?
Ok. How do I donit
What is the name of your company? How can I reach you?
You can find out more about our team at chrisnaugle.com. My guy craig@chrisnaugle.com can help out with a strategy call.
Does this exist internationally or it is only for the USA?
Super interesting
Great info!
Glad it was helpful!
I know exactly what "acct" your talking about but can u take money OUT of your policy or acct with out having to pay it back? Is that money truly yours? Or is it stuck in a policy?
I'll buy gold and silver coins as my generational wealth
Wow funny. But I'm in.
WHICH REPUTABLE WHOLE LIFE INSURANCE TO GET STARTED WITH
Only use a top mutual company.
I write for Lafayette. Top top! I can help
So if I let Roger borrow that money, how is it that he contractually or legally have to pay me x amount of dollars back plus interest
Roger is a lovely esthetic. I like Roger.
Where are you located? Are you in Pittsburgh Pa?
I'm interested
Can you do this in Switzerland?
Can I buy property using it? How?
Definitely appreciate these types of videos, so my question is where do I go to get this whole life policy with a dividend. Who do I call, heat video. Well u said to book a call I have one today at 3:00 talk to u soon
Sure! Just click, check out the video and get started!!
moneyschoolrei.com/masterclass-broadcast-chris
Yea I watched this video last night so I set a call up today at 3pm. Hopefully I can get my questions answered then. Cause my main concern is where or what company I go with to get the policy your referencing. Thanks again talk to you soon
How do i get in touch with you for this setup
Can you move money from a ira to this concept free of tax
great Video, can this work in the U K
Ok so be your own bank, so am I able to direct deposit it and pay bills from it ? Or do I still need a bank
It is illegal to not use your name when opening a bank account, there is no legally protected anonymity in this world anymore. Street money launderers get caught quick, the biggest money launderers is our own government and whoever bribes them enough.
True !
how do i create my own bank?
you've come to the right place, you can get on a call with our team that's what we do best! link is in the description of the RUclips video or you can go to chrisnaugle.com to drop an inquiry
Who edits your videos?
Who watched the Dave Ramsey video and thought what Dave said made sense
not me
BANKs Control the Flow of The CURRENCY like a River Bank!
I live in Jamaica
Can I still become one of your clients?
@@bugzieplayz yaadie?
I’m not sure if I heard him right when he spoke about his commish …. But it sounded like he gets paid $350. What he actually said was he gets paid $350 minus the other guys $5,500 commission for the term/whole life commission they are charging. If I heard this correctly, he is getting roughly $5,200 in commish multiplied by thousands of clients; they are doing okay?? That part seemed like he was misrepresenting the difference in commissions paid out. Like a play on words to make you think he only gets paid $350 as opposed to $5,500. Nothing wrong with commissions, but when someone is playing on words like that, what else is being played? My numbers are an example of what he said (but very close) and not exactly correct based on what he said. Im still looking into this concept and learning. Also, what about the money you have to put into the policy and the interest you are not getting on it while in this policy. How do I figure that out, especially when I’m investing in other things that could be bringing in a return as well. Lol. It’s a little confusing but worth the time.
Can a disabled veterans do this??
Can a person go out a get a Whole life insurance policy tomorrow and make this work for them that same week or do yiu have to let it season for some time in order to touch thise funds?
When you fund the policy you will be able to access a portion of your cash value within the first 30 days.
How do I get help from your team about my own banking
Do you still need help? I write for Lafayette
It sounds like a universal whole life policy
Does the loan you take out go against your personal credit for DTI calculations when say purchasing another home or auto loan?
NO, And its not reported to any bureaus
How to make a whole life like that in europe?
Does this work in Canada?
Hey does this work in France?
I want to talk and I'm willing to do anything to make my life and my sons lives better
Hey Cassie, reach out to my guy craig@themoneymultiplier.com and he can help you out.
I don’t understand why help people if there’s nothing in it for you?
Views and content
I want to know if I can intentionally mismanage paying interest payments back to my own bank-and then file bankruptcy in order to “stick it to The Man” ? of course I would also be “The Man”!
Still trying to understand this, because you are still paying interest to the mutual whole life insurance, and no guarantee you will make 1 to 3 % if the market is in the drain.
How can I get in touch with you regarding Boli system
Please reach out to my guy craig@chrisnaugle.com
I'll listen to you talk, but spare me the hip hop soundtrack.