Insightful video. I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I'm 27, and earn nothing less $150k per year, but nothing to show for it yet.
When people have money, they spend it. And some people spend more money when they have more of it. If you want to improve your financial management, you should consult with a financial advisor.
@@devereauxjnr That's right, you can avoid the traps of lifestyle inflation by consulting an expert advisor to help you plan for your short- and long-term goals; it all comes down to proper guidance. Over the past two years and six months, I have seen my income build wealth and now have a fully paid off house and at least $650,000 in stocks. All this is the result of subsequent investments with my savings and the application of expert advice.
@@MrGravity304 Nice, who is the Financial Advisor aiding you if this is not much i'm asking? my retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2021.
@@freedomisEexpensive-08 My advisor is the quite famous NICOLE DESIREE SIMON She has been making a fortune online worth millions of dollars in digital assets for a select few for years. Lately, these types of services have appeared that allow you to copy the results of the experts. She demonstrates how to copy it automatically using that system.
Well, i do have my reservations about the economic crisis. Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $650K portfolio is down by approximately 20%, any recommendations to scale up my ROI before retirement will be highly appreciated.
It's a delicate season now, so you can do little or nothing on your own. Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
Very true! I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.
Please how do I connect to her? My funds are being murdered by inflation, and I'm looking for a more profitable investing strategy to put them to work.
Personally, I can connect to that. When I began working with " Natalie Lynn Fisk" a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes. Thanks
This is by far one of my favorite interviews with Doug Andrew. The way he thoroughly explains the performance of a properly structured IUL is simply excellent. The rate of return is hands down the best and safest when it comes to doubling your money. As he states it will knock the socks off of a traditional retirement plan. Thanks for sharing this knowledge coach…awesome interview.
Awesome explanation. Awesome interview. And, Doug and Matt are awesome. This is my first time hearing of both of them and this has to be the best explanation of insurance, retirement, investment, and taxes associates with them. Thank you!
I love this man Doug Andrew .. he changed my life on many levels … I’ve received so much backlash and MIs information about insurance … but no one can never give an alternative…. To owning an IUL…. I’m so glad I started mine … most Americans are so MIs informed and scared to do research .. its easier to be the herd that is stampeding only to be running .. but no real purpose or target
Why is it that Douglas Andrews always makes me think he's the Zig Ziglar of insurance and Matt makes me think he's the Tony Robbins of the industry. Always enlightening, Glad you mentioned former Raven Brendon Ayanbadejo. He is one of the smartest athletes I have ever encountered! I love the 7 Figure Squad channel. Thank You!
This is crazy. Yesterday a financial advisor spoke to me about this product and now this video popped up. I use to work in finance so I'm always skeptical about advisors pushing products without truly inquiring about my lifestyle. Reading these comments are interesting as well.
What you weren’t SHOWN is that you’re at risk of having NO insurance and NO CASH VALUE when you may need it most. Your were just TOLD about the good stuff
@@willc4508 its happens when closer to your retirement ages. There’s a chart in all policies that have a cost of insurance table and a cash value table. The cost of insurance numbers continues to rise and the cash value table continues to decrease. Then you will see 0’s. Do you think we should be saving more or less the older we get?
@@donnawashington3696 that can only happen if you stop paying your policy, and you use up the cash value as well because it doesn't disappear on its own. That would totally be the individuals fault and not the policy. Also he talked about being self insured at some point, which is option A in a IUL policy after you have max funded the policy. It's just like anything else, get educated on it before you dive in.
This is an amazing strategy which I am part of the company. I love it when he said "don't follow the herd". Yup, we have this strategy in Canada. Great future ahead!
I am so grateful and blessed that I know this kind of strategy and I have an ability to educate more people here in Canada. Amazing plan and amazing business opportunity.
This was an incredible interview. I follow both of you guys I almost did the maximum funded IUL with Doug but pulled out. I wished I did perused it because I could’ve received a lot of gains to date.
This is great! Very informative and I've sold life insurance in the past lol. I wasn't familiar with this type of policy tho. I'm definitely going to be looking into one going forward.
I know, same here! This video will make me tell everyone! I might as well get l9censed again. Truly never heard of something like this. It's not even a thought for me. This is a SOLID way to go.
There may not be charges as far as ongoing management fees but IUL may be capped or your not getting the full return of the index being followed. That gain that they didn’t get to participate in due to the product cap is more expensive in the long run. This could easily average 5% per year. That 5% that you didn’t earn is pocketed by the insurance company.
5:07 Sorry. But I get suspicious of people who get asked “How does it work?” ...then avoid the answer by saying ‘what it DOES’. This is probably an issue I need to work on for myself.
Your right !!! It’s trash !!! My friend had one paid it for 6 years and she had $1500 in her cash value and was only able to get $5 ! We called the company on a recorded line and we asked if this was an investment they said no !!! It never reflects what the stock market does and cost insurance goes up every year and eats the cash value ! It’s trash !!! I’ve see. Older people cry about this after paying 30 years only to find out they don’t have what they where promised ! It’s a legal scam !
@@jas_alvarez90 your friend got hosed. You need to do some research before going with the company. I have paid on mine for a year and I have 5k available to withdraw. In the next 5 years I will be able to pay or my sons college with it. No student loans here.
I'm ever so grateful for my advisor who showed me this strategy when I was 22. 3 years in - enjoying the benefits of this. 💖 If you're wondering, yes we have this in Canada! ✨
I advice you call your life insurance company not your agent your but your life insurance company ask them how much you have in your cash value and if you take it out how much will you get. I bet you 100% you will have absolutely nothing after paying it for 3 years.
@@jas_alvarez90 Thanks for the concern! I actually am aware of the difference between my CASH value and FUND value. As mentioned in the video - my personal purpose in getting this plan is for when I retire so I don't actually need to take out any money any time soon. That's why we all should also have an emergency fund and short term savings on top of this. ✨
So many ppl are ignorant to this because they’ve been conditioned by other ppl’s life insurance failures of not paying out because they bought the wrong type. Some had & ran out their Term Life instead of Universal Whole life and couldn’t buy back in because it became too expensive. Then they’re mad and go spread the negative stories when they should have had it written properly & in THEIR OWN INTEREST by a knowledgeable agent to begin with.
Thank you for this video. I'm getting this in daily. I follow Douglas. I would love to learn more from him. I have one of his books. A video with "0" dislikes :). Key takeaways: life insurance is the best generational wealth transfer vehicles. Universal life can give an increase during the good times and you will never lose during the bad times. Double wins. Thank you so much.
Right, think of the Talents parable. He gave according to their ability and rewarded them based on their effort and performance in blessings and authority.
The wisest thing that should be on every wise individuals list is to invest in different streams of income that don't depend on the government to bring money especially now the pandemic is hitting economy hard
This product did not work for me as an investment. Yes it is true that your rate of return is set at 8.25% however that is after they take 35% of your money for fee's and commission. That is why you have to overfund these policies to make it work. But I dont like to have to overfund just to catch up with my own money. Also if you decide to change your mind about the investment they will hit you with an astronomical surrender fee. In my experience this product is more beneficial to the agent and is totally unethical.
Unethical? Yet stock brokers get paid by peoples money being in investments that are risky, and that stock broker is getting paid wether the client is gaining or losing. Talk about being ethical. 👍🏻
This video is very inspirational, especially when I'm starting out in this industry. I hope I can be as charming and convincing as Doug Andrew in the future.
Hi Joshua, I saw that you are looking for mentorship. I am in California. I have been doing this for over 13 yrs. Let me know if you still need a mentor.
@@victoriale3494 I don't know about this and will need information to start studying. I'll be glad to learn from your experience if you're open to mentoring me. I'm in Dallas and I just so confused about the life insurance concept (whole life/term).
Thank you matthew and douglas! you guys keep me fired up to continue doing what I'm doing now, this is our our companies vision... to Educate more people about this strategy. God Bless you more.
Can you please add a visual one of your videos so we can see how your cash value doesnt get eaten as you get older due to the rising cost of the insurance? How much would you have to fund this for that not to occur?
I've recently signed up for whole life insurance and felt so much relief knowing that my family is secure. But I want to know, are you saying universal insurance is better than whole life ?
I'm 35 years old watching this. I was going to open an IRA or a 401K. I'm glad I saw this video. But, there's different types of life insurance. I don't know which one to choose. I'm not rich, but I can put at least 400 a month into an account. My mind is overwhelmed with all the information. I just don't know which life insurance to get. Or who to get it with. I'm a veteran and I have USAA as a bank.
There is one HUGE detail that is not being discussrd in terms of the cash value that builds up in whole life policies. All of the cash is tax free ONLY if it is distributed as a death benefit. ALL gains in the policy above what has been contributed by the insured is taxable as ordinary income tax which, in many cases, is even higher than long term capital gains (currently at 15%). Don't get me wrong, life insurance as a savings vehicle is great, thats why i have it and my wife has it. This video is a little misleading and is potentially painting a picture thats a bit too rosy
@@snellerfinancialservicesll5303 Is that right? How is that? Just as the burden of proof is on me, it is also on you to prove a point instead of just saying "nope. You're wrong....okay bye. Insert basic insult here. And by the way...way to stay classy and be an adult 👍
@@snellerfinancialservicesll5303 Cash value in life insurance policies are tax free up to the policy cost basis. My favorite part is how you just keep saying its wrong but not why. Believe it or not, I would actually LIKE to know why so I can build my understanding. Because everything I've found indicates that its only tax free up to the insureds contributions.
@@barbershop7824 if you WITHDRAW, but the distributions aren't WITHDRAWN. They are structured as collateralized LOANS. A form of collateralized debt, and debt isn't taxable. As Robert Kiyosaki says, the 2 things that separate the rich vs the poor & middle class are application of debt & taxes. Cash value life insurance is a perfect application of this.
How does he structure these universal life contracts with the level death benefit versus increasing death benefit? Is it always level or does it depend on the situation
I am an insurance agent but is not as active and I’ve insured my son and family members too including myself. However my son doesn’t believe in what I do. Now he is with a trading coach and bitcoin. He said he wants to be a realtor too like his coach. What strategy should I use to enlighten his mind. Do appreciate your advice. More Power to you. God bless
not everyone will support your journey. He most likely is into the other things because he has seen what they do. You need to show him what you can do or what life insurance can do. And even then, not everyone comes around. Remember what Doug said, the best pay out is when you know that family you helped is take care of. ( something like that )
He deals with a lot of rich people but you can still max fund at any level. If you have a 100k policy, max fund it which is just the max amount they will let you put in it every year for the first 5-7 years.
what if the dollar collapses what happens to your savings in this insurance account? isnt it also denominated in USD? Does Canada have this life insurance?
Yes we have it also here in Canada! I’m a Financial Advisor and we are offering the same thing! If you want to learn more I can explain it to you in 30 minutes!
Wish I had learned about the power of this in highschool! Too much time listening to Dave Ramsey on the tractor and I was led astray by his inaccurate rants against whole life... Particularly in regards as a WMA/IBC tool. Bought term and "invested" the difference in a Roth IRA when I was 23... Just started learning about this 2-3 years ago and just getting to the point where I can afford it (at 31 years old) but it's not as affordable as it would've been had I started 8 years ago (as a young healthy newly wed couple). My advice to everyone, don't wait, the younger the better
@@tommymodec no didn't know that, nor do I advocate using IULs. I'm becoming my own banker through properly structured Whole Life insurance. I don't trust IULs for the same reasons I don't trust mutual funds, 401k and other qualified retirement accounts. Namely they are heavily tied to the stock market, and I can't really practice the Infinite Banking Concept with IULs. But thank you for the info! I actually listen to Andrew too help keep up to date on tax changes. I absolutely hate taxes. 😆
How do i find someone were i live that knows how to set one of these up?? I'm in southeast GA. Or is there a way for me to get ahold of one of these heavy hitters ??
Nonsense! I invest in a mutual funds that paid double digit returns in 2020 in a Roth IRA completely tax free. Why doesn't he mention surrender fees, policy loans interest rates, increasing cost of insurance nor death benefit options? Those things will kill your savings!
The Roth IRA is good when the market is up, but not when it goes down. There is a death benefit to an IUL, and it can be level or increasing. It receives guaranteed rates of returns, and it has a floor that cannot lose money when the market is at a negative return. A Roth is good, but hope there is not another 2008, because I lost 40% of my cash value. IUL is a great way to diversify and it is exactly what the rich use to build wealth.
@@danerbalconamericanlegionp328 Based on your response, I can only assume you're not securities licensed so I won't even attempt to go into a deep discussion about the trajectory of the market and the overwhelming loss of level death benefits in cash value. Hope you get some true education on the matter.
It's called Insured Retirement Plan. I can get you one if you're in canada. Let me know. It's quite amazing how it works. Blows your mind why people even bother with RRSP/TFSA
The payments for most universal life insurance policies sky rocket when they get to 65yo and is no longer affordable. Pay attention to the policy payment structure people..
My brother in law has a whole life policy, underwritten by a "friend" , who was asked when the premiums would end. My brother in law was told the premiums would end and stupidly signed the policy only to discover several years later (again stupid) that he'll pay premiums until he's 99.
I’ve never heard of it ... I think it may be the opposite. Doug has training many financial pros over a 50 year career and they may have used his knowledge products in their materials. I’ve seen it very frequently
So, the minimum payment is $500? Is is possible to buy a smaller policy? Also, is it like whole life where you can take loans and still make interest in the cash value, or is this mainly for retirement income? Thanks, and it sounds better than I had heard about before :)
No Savannah, your premium is dependent on what you policy is. You can absolutely buy a smaller policy. I am a licensed agent and can help you through it.
I had clients where agents sold the same gimmicks as this video does. They all lost 60%-100% "tax free" because they give you your own money back while the insurance company makes more money off their clients than their clients make... whenever an agent talks circles like this, I say "great, can you show me a real client where this worked out. Not theory and talk but real policies and real people." They never show up...
I am a real client, and it worked for me. I was skeptical like you as well because we have so many agents who don't understand the products or how to structure it. I had a plan 10 years ago, which i canceled immediately i got it because i was reading reviews from others from the internet and word of mouth. I regret doing that. Five years later, i met my financial professional who was amazing. He was detailed with his explanation. I took time to learn about it and finally understood it. It's the best leap of faith i have ever taken. I have a diversified portfolio, and in comparison to all my other investments, my IUL has performed better than all of them.
Everybody loves taking about the pros but never the cons do you own research from what I’ve seen you can be capped doing this but the market has no cap
The cap gives you a floor in case the market goes south. When that happens your gains are locked in. Does the market have that downside protection? 🤔 I doubt it. This here depends on someone’s financial strategy. Remember it isn’t for everyone. Just like peanuts isn’t for everyone lol
If you're getting the vaccine, make sure to call your life insurance provider and ask them if you're covered should you experience bad side effects or death. Most are saying they will not so make sure if you're one who has figured out it's taking thousands of lives.
Insightful video. I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I'm 27, and earn nothing less $150k per year, but nothing to show for it yet.
When people have money, they spend it. And some people spend more money when they have more of it. If you want to improve your financial management, you should consult with a financial advisor.
@@devereauxjnr That's right, you can avoid the traps of lifestyle inflation by consulting an expert advisor to help you plan for your short- and long-term goals; it all comes down to proper guidance. Over the past two years and six months, I have seen my income build wealth and now have a fully paid off house and at least $650,000 in stocks. All this is the result of subsequent investments with my savings and the application of expert advice.
@@MrGravity304 Nice, who is the Financial Advisor aiding you if this is not much i'm asking? my retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2021.
@@freedomisEexpensive-08 My advisor is the quite famous NICOLE DESIREE SIMON She has been making a fortune online worth millions of dollars in digital assets for a select few for years. Lately, these types of services have appeared that allow you to copy the results of the experts. She demonstrates how to copy it automatically using that system.
@@MrGravity304 Thanks for the info, i found her website and sent a message hopefully she replies soon.
Well, i do have my reservations about the economic crisis. Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $650K portfolio is down by approximately 20%, any recommendations to scale up my ROI before retirement will be highly appreciated.
It's a delicate season now, so you can do little or nothing on your own. Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
Very true! I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.
Please how do I connect to her? My funds are being murdered by inflation, and I'm looking for a more profitable investing strategy to put them to work.
Personally, I can connect to that. When I began working with " Natalie Lynn Fisk" a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes. Thanks
This is by far one of my favorite interviews with Doug Andrew. The way he thoroughly explains the performance of a properly structured IUL is simply excellent. The rate of return is hands down the best and safest when it comes to doubling your money. As he states it will knock the socks off of a traditional retirement plan. Thanks for sharing this knowledge coach…awesome interview.
Wow! Well said and done. This is what we've done since the beginning. Love our company for teaching us the great strategy.
" Don't follow the herd" ❤
Awesome explanation. Awesome interview. And, Doug and Matt are awesome. This is my first time hearing of both of them and this has to be the best explanation of insurance, retirement, investment, and taxes associates with them. Thank you!
I’m a new agent for New York Life and Doug has changed my perspective on so much. Thank you
Makes a big difference if done well!
Do you make as much as they say
🙂
Is this a good insurance to use?
do you all offer Term with return of premium?
The philosophy Doug said at the end of the video has earned my wholesome respect. Brilliant Doug. Brilliant.
@@tommymodec Links or didn't happen
I love this man Doug Andrew .. he changed my life on many levels … I’ve received so much backlash and MIs information about insurance … but no one can never give an alternative…. To owning an IUL…. I’m so glad I started mine … most Americans are so MIs informed and scared to do research .. its easier to be the herd that is stampeding only to be running .. but no real purpose or target
Why is it that Douglas Andrews always makes me think he's the Zig Ziglar of insurance and Matt makes me think he's the Tony Robbins of the industry. Always enlightening, Glad you mentioned former Raven Brendon Ayanbadejo. He is one of the smartest athletes I have ever encountered! I love the 7 Figure Squad channel. Thank You!
This is crazy. Yesterday a financial advisor spoke to me about this product and now this video popped up. I use to work in finance so I'm always skeptical about advisors pushing products without truly inquiring about my lifestyle. Reading these comments are interesting as well.
I'm a broker. I have 5 of these products, they are amazing. He's speaking the truth. Constitutional tax laws support this.
@@earlharden175 Would you mind educating me as a practicing professional?
@@kenechine6041 sure thing feel free to shoot me message here or on fb or Instagram
Yes, the future is bright ! glad I started early and learned this product at age 25 ❤️❤️❤️
Once the dollar is non existent your life insurance won’t even exist!!! You better wake up!!!
What you weren’t SHOWN is that you’re at risk of having NO insurance and NO CASH VALUE when you may need it most. Your were just TOLD about the good stuff
@@donnawashington3696 at what point does that happen?
@@willc4508 its happens when closer to your retirement ages. There’s a chart in all policies that have a cost of insurance table and a cash value table. The cost of insurance numbers continues to rise and the cash value table continues to decrease. Then you will see 0’s.
Do you think we should be saving more or less the older we get?
@@donnawashington3696 that can only happen if you stop paying your policy, and you use up the cash value as well because it doesn't disappear on its own. That would totally be the individuals fault and not the policy. Also he talked about being self insured at some point, which is option A in a IUL policy after you have max funded the policy. It's just like anything else, get educated on it before you dive in.
This video has a time share vibe.
This is an amazing strategy which I am part of the company. I love it when he said "don't follow the herd". Yup, we have this strategy in Canada. Great future ahead!
Damn this Douglas Andrew has got it. Excellent video!
Man, awesome interview! Getting his training LIVE in person was awesome as well! Thank you for this 🙏
One of the best interviews I’ve seen! Awesome job Matt and Andrew 🔥🙌🏽
!+!+
After the minute 35 of this video it became priceless.... pure gold.
my daughter started it when she was only 16 years old. Thank you Doug for sharing this.
Amen to that ... pack it full of cash and give the policy a chance to compound!
This is incredible! I'm glad I found this channel
One of the best videos I've seen. The knowledge and wisdom!
Been watching Doug for a few years now. I have an UIL and I’m confident I made the right choice. Thanks for the video guys
What company did you get the UIL through? I need to get mine asap
"There’s nothing more unequal than the equal distribution to unequals"🎯
WWWWOOOOOOOOWWWWW!!!!!
💎💎💎
The most important interview in life thank you so much respect
I am so grateful and blessed that I know this kind of strategy and I have an ability to educate more people here in Canada.
Amazing plan and amazing business opportunity.
@7 Figure Squad please stop impersonating and trying to fraud people. Stop!
This was an incredible interview. I follow both of you guys I almost did the maximum funded IUL with Doug but pulled out. I wished I did perused it because I could’ve received a lot of gains to date.
Incredible interview! Thank you both for your wisdom.
This is great! Very informative and I've sold life insurance in the past lol. I wasn't familiar with this type of policy tho. I'm definitely going to be looking into one going forward.
I know, same here! This video will make me tell everyone! I might as well get l9censed again. Truly never heard of something like this. It's not even a thought for me. This is a SOLID way to go.
WOW. I love the Jordan shoes in this video. It's a real person to person connection vs a millionaire sharing information.
There may not be charges as far as ongoing management fees but IUL may be capped or your not getting the full return of the index being followed. That gain that they didn’t get to participate in due to the product cap is more expensive in the long run. This could easily average 5% per year. That 5% that you didn’t earn is pocketed by the insurance company.
Not at all. I have an uncapped I UL I did 30% last year. My capped IUL did 15%
@@earlharden175 which insurance company gives you uncapped IUL?
@@yrre7 Minnesota life
@@yrre7 several do. Its all about your index strategy.
Great interview. Lots to learn. Implement. Keep going everyone.
sometimes when I'm feeling down in the grind I come watch this video again... especially 29:00 -
Coach, this video is so NEXT LEVEL @Valuetainment style.... I cant wait till you hit 1 MILLI subs!
5:07 Sorry. But I get suspicious of people who get asked “How does it work?” ...then avoid the answer by saying ‘what it DOES’.
This is probably an issue I need to work on for myself.
Your right !!! It’s trash !!!
My friend had one paid it for 6 years and she had $1500 in her cash value and was only able to get $5 !
We called the company on a recorded line and we asked if this was an investment they said no !!! It never reflects what the stock market does and cost insurance goes up every year and eats the cash value ! It’s trash !!! I’ve see. Older people cry about this after paying 30 years only to find out they don’t have what they where promised ! It’s a legal scam !
I agree 100%. It's because they don't know how it works, all they know is what they been told.
@7 Figure Squad
Thanks for the response, but that really didn’t address my concern.
@@jas_alvarez90 your friend got hosed. You need to do some research before going with the company. I have paid on mine for a year and I have 5k available to withdraw. In the next 5 years I will be able to pay or my sons college with it. No student loans here.
@@domingodelgado3944 elaborate some more details please.
I'm ever so grateful for my advisor who showed me this strategy when I was 22. 3 years in - enjoying the benefits of this. 💖
If you're wondering, yes we have this in Canada! ✨
I advice you call your life insurance company not your agent your but your life insurance company ask them how much you have in your cash value and if you take it out how much will you get. I bet you 100% you will have absolutely nothing after paying it for 3 years.
@@jas_alvarez90 Thanks for the concern! I actually am aware of the difference between my CASH value and FUND value. As mentioned in the video - my personal purpose in getting this plan is for when I retire so I don't actually need to take out any money any time soon. That's why we all should also have an emergency fund and short term savings on top of this. ✨
@@JayemAndKath God bless
@@jas_alvarez90 Thank you! God bless you more 😊💕
What do you have? I’ve never seen IUL in Canada, only VUL.
So many ppl are ignorant to this because they’ve been conditioned by other ppl’s life insurance failures of not paying out because they bought the wrong type. Some had & ran out their Term Life instead of Universal Whole life and couldn’t buy back in because it became too expensive. Then they’re mad and go spread the negative stories when they should have had it written properly & in THEIR OWN INTEREST by a knowledgeable agent to begin with.
Thank you for this video. I'm getting this in daily. I follow Douglas. I would love to learn more from him. I have one of his books. A video with "0" dislikes :). Key takeaways: life insurance is the best generational wealth transfer vehicles. Universal life can give an increase during the good times and you will never lose during the bad times. Double wins. Thank you so much.
What’s up Watts ... life insurance is quite the basis to build one’s financial home on. Glad you’re learning this stuff now 🤜🤛
One of the best videos I have seen! Thank you
Right, think of the Talents parable. He gave according to their ability and rewarded them based on their effort and performance in blessings and authority.
Eat opening wisdom! Thanks you both! 🤯
The wisest thing that should be on every wise individuals list is to invest in different streams of income that don't depend on the government to bring money especially now the pandemic is hitting economy hard
The best thing Ive heard today
making your money invisible" is such a simple powerful concept that I think it is a darn shame that it isn't taught in schools.
Don't think the government have good plans for us maybe side hustle or investment could help
Talking about side hustle and investment are you into any am confused which is okay?
Well there are a lot: Nio stock, Real estate investment, ZOM, Tesla, Bitcoin, and alot more.
This product did not work for me as an investment. Yes it is true that your rate of return is set at 8.25% however that is after they take 35% of your money for fee's and commission. That is why you have to overfund these policies to make it work. But I dont like to have to overfund just to catch up with my own money. Also if you decide to change your mind about the investment they will hit you with an astronomical surrender fee. In my experience this product is more beneficial to the agent and is totally unethical.
How long did you pay into the policy?
Unethical? Yet stock brokers get paid by peoples money being in investments that are risky, and that stock broker is getting paid wether the client is gaining or losing. Talk about being ethical. 👍🏻
You don't understand it. Am from Africa and I wish we have this in our nation's.
A regular whole life policy was the best option for you, not a universal life.
The design is important.
This video is very inspirational, especially when I'm starting out in this industry. I hope I can be as charming and convincing as Doug Andrew in the future.
thank you Douglas, Great interview with most Important Issues.
Much 💚
I’m an agent from a mutually funded company that offers tax-free, LRIP, 0% Floor
; compound effect.
Guy with the tie on I been following for awhile . Give me a couple of months
Best finance related channel on youtube.
It's "TAX FREE" because there's nothing to TAX!!! Everytime I replace one of these the agents excuse is. This wasn't "Structured right"
Please elaborate some more.
Look for the positive. Pls
Powerful dialogue 🙌. Currently studying for my life, health, and annuities liscenses in Virginia. Will be looking for mentorship soon.
The living benefit is awesome. And taxes aren’t going down anytime soon. Thank you. #Kevco
Hi Joshua, I saw that you are looking for mentorship. I am in California. I have been doing this for over 13 yrs. Let me know if you still need a mentor.
@@victoriale3494 more info?
@@victoriale3494 I don't know about this and will need information to start studying. I'll be glad to learn from your experience if you're open to mentoring me. I'm in Dallas and I just so confused about the life insurance concept (whole life/term).
Great information. I help all my clients with these kind of plans. Love universal indexed products
Truly amazing product... that's what we offer to people!
Thank you matthew and douglas! you guys keep me fired up to continue doing what I'm doing now, this is our our companies vision... to Educate more people about this strategy. God Bless you more.
Great information. I love the fact that you provide the value as our culture is not well educated on how does life insurance works
We’re here to crack the code and break down barriers my friend. We all need to get access to this info…thank God for YT
@@7FigureSquad 🙏🏼🙏🏼Semper Fi
I am considering getting my life insurance and p&c license together, and having both. Is that a potent combo? Also, love this channel!
Definitely is. Homeowners need LI. Good luck
Hey Donavan, 👋
Have you gotten your life license yet??
Can you please add a visual one of your videos so we can see how your cash value doesnt get eaten as you get older due to the rising cost of the insurance? How much would you have to fund this for that not to occur?
Fabulous is the WORD to put it simply !!!
Thank you, Matthew and Douglas.
You’re welcome Justin ... thx for your message!
I've recently signed up for whole life insurance and felt so much relief knowing that my family is secure. But I want to know, are you saying universal insurance is better than whole life ?
Solid interview. I may need to change the industry I work in.
I'm 35 years old watching this. I was going to open an IRA or a 401K. I'm glad I saw this video. But, there's different types of life insurance. I don't know which one to choose. I'm not rich, but I can put at least 400 a month into an account. My mind is overwhelmed with all the information. I just don't know which life insurance to get. Or who to get it with. I'm a veteran and I have USAA as a bank.
What policy/company is paying you 7-10% All the policies I’ve seen only pay about 4%
Thank you Matthew and Dough. I love the messages you ga ve
Great interview! Also this guy has a great voice.. should get into narrating audio books..
I absolutely love this guy!!
May I ask: if the money your clients invest through your Insurance is not exposed to any risk, into what assets is it invested then?
Risk is taken on directly (not policy holder) by the investment grade bond portfolio of the insurance company + options of a particular index.
There is one HUGE detail that is not being discussrd in terms of the cash value that builds up in whole life policies. All of the cash is tax free ONLY if it is distributed as a death benefit. ALL gains in the policy above what has been contributed by the insured is taxable as ordinary income tax which, in many cases, is even higher than long term capital gains (currently at 15%). Don't get me wrong, life insurance as a savings vehicle is great, thats why i have it and my wife has it. This video is a little misleading and is potentially painting a picture thats a bit too rosy
That is not true. Stick to the barbershop
@@snellerfinancialservicesll5303 Is that right? How is that? Just as the burden of proof is on me, it is also on you to prove a point instead of just saying "nope. You're wrong....okay bye. Insert basic insult here. And by the way...way to stay classy and be an adult 👍
@@barbershop7824 what you are saying is fundamentally incorrect. That's it. There's nothing else to say.
@@snellerfinancialservicesll5303 Cash value in life insurance policies are tax free up to the policy cost basis. My favorite part is how you just keep saying its wrong but not why. Believe it or not, I would actually LIKE to know why so I can build my understanding. Because everything I've found indicates that its only tax free up to the insureds contributions.
@@barbershop7824 if you WITHDRAW, but the distributions aren't WITHDRAWN. They are structured as collateralized LOANS. A form of collateralized debt, and debt isn't taxable.
As Robert Kiyosaki says, the 2 things that separate the rich vs the poor & middle class are application of debt & taxes. Cash value life insurance is a perfect application of this.
How does he structure these universal life contracts with the level death benefit versus increasing death benefit? Is it always level or does it depend on the situation
Do you have agents in Australia that offer same programs for life insurance
I am an insurance agent but is not as active and I’ve insured my son and family members too including myself. However my son doesn’t believe in what I do. Now he is with a trading coach and bitcoin. He said he wants to be a realtor too like his coach. What strategy should I use to enlighten his mind. Do appreciate your advice. More
Power to you. God bless
not everyone will support your journey. He most likely is into the other things because he has seen what they do. You need to show him what you can do or what life insurance can do. And even then, not everyone comes around. Remember what Doug said, the best pay out is when you know that family you helped is take care of. ( something like that )
@@danielromero5424 What's your expertise in IUL, or investment vehicles in general?
Thanks Doug
Great video. Good key points. Keywords: "Max funded". Most of his concepts don't apply to most people.
He deals with a lot of rich people but you can still max fund at any level. If you have a 100k policy, max fund it which is just the max amount they will let you put in it every year for the first 5-7 years.
Came here to learn more about life insurance and I randomly click on this video that was filmed in my city. Lol! What a coincidence. LOL!
The Yay Area? Thx for watching Crystal! Are you an agent as well?
what if the dollar collapses what happens to your savings in this insurance account? isnt it also denominated in USD?
Does Canada have this life insurance?
Yes we have it also here in Canada! I’m a Financial Advisor and we are offering the same thing! If you want to learn more I can explain it to you in 30 minutes!
O so want to meet Doug someday here in Utah! he is Awesome! Great Interview Matt Thanks!!!
What's a good reputable company(s) to purchase life and wholelife insurance???
I love how u pick the Jordan 11 to wear very nice taste you sharp😎😎😎😎😎😎💯💯💪💪
Wish I had learned about the power of this in highschool! Too much time listening to Dave Ramsey on the tractor and I was led astray by his inaccurate rants against whole life... Particularly in regards as a WMA/IBC tool. Bought term and "invested" the difference in a Roth IRA when I was 23... Just started learning about this 2-3 years ago and just getting to the point where I can afford it (at 31 years old) but it's not as affordable as it would've been had I started 8 years ago (as a young healthy newly wed couple). My advice to everyone, don't wait, the younger the better
@@tommymodec no didn't know that, nor do I advocate using IULs. I'm becoming my own banker through properly structured Whole Life insurance. I don't trust IULs for the same reasons I don't trust mutual funds, 401k and other qualified retirement accounts. Namely they are heavily tied to the stock market, and I can't really practice the Infinite Banking Concept with IULs. But thank you for the info! I actually listen to Andrew too help keep up to date on tax changes. I absolutely hate taxes. 😆
KEEP ON LISTENING TO DEADMSYYY !!!
How do i find someone were i live that knows how to set one of these up?? I'm in southeast GA. Or is there a way for me to get ahold of one of these heavy hitters ??
We gotchu - send us your info here: www.MoneySmartGuy.com
i'm uninsurable, can i still do infinite banking?
Did your team have your microphone off on purpose? Lol....otherwise great video
Damn. I was living in Louisville Kentucky at the time this was filmed and I missed all of this great knowledge! 😢
I needed this!
Pls be careful of this fraud here parading himself as the author of this page. DO NOT CALL NOR CONTACT ANYONE HE MENTIONED HERE.
@7 Figure Squad stop impersonating
Sounds good but do your research.
There are several major lawsuits regarding these policies specifically the index life policies version.
Mr. Andrew you are the man Sir!! #Salute
My daughter just started with a competitor of PHP. What advice would you give to someone just starting out.
Your daughter is with PHP or a different company?
Advice_? Daughter career going ok?
I build these for families, such a helpful tool for them!
Keep up the good work!
Nonsense! I invest in a mutual funds that paid double digit returns in 2020 in a Roth IRA completely tax free. Why doesn't he mention surrender fees, policy loans interest rates, increasing cost of insurance nor death benefit options? Those things will kill your savings!
The Roth IRA is good when the market is up, but not when it goes down. There is a death benefit to an IUL, and it can be level or increasing. It receives guaranteed rates of returns, and it has a floor that cannot lose money when the market is at a negative return. A Roth is good, but hope there is not another 2008, because I lost 40% of my cash value. IUL is a great way to diversify and it is exactly what the rich use to build wealth.
@@danerbalconamericanlegionp328 Based on your response, I can only assume you're not securities licensed so I won't even attempt to go into a deep discussion about the trajectory of the market and the overwhelming loss of level death benefits in cash value. Hope you get some true education on the matter.
So Matt how can the average person do this. Where do we go. What’s the first step?
luv the waspyness
It's called Insured Retirement Plan. I can get you one if you're in canada. Let me know. It's quite amazing how it works. Blows your mind why people even bother with RRSP/TFSA
The payments for most universal life insurance policies sky rocket when they get to 65yo and is no longer affordable. Pay attention to the policy payment structure people..
I agree especially if they’re structured improperly or the policyholder has lost touch with their agent
My brother in law has a whole life policy, underwritten by a "friend" , who was asked when the premiums would end. My brother in law was told the premiums would end and stupidly signed the policy only to discover several years later (again stupid) that he'll pay premiums until he's 99.
@@jmea01 I’m sorry that happened. That agent didn’t do his job and shame on him. People like him gives the industry a bad name.
This is a blessing
Loved it!
Your LASER fund is essentially the same as Suncor Financials MPI program. Am I correct on the correlation?
I’ve never heard of it ... I think it may be the opposite. Doug has training many financial pros over a 50 year career and they may have used his knowledge products in their materials.
I’ve seen it very frequently
Can this information be applied in Australia Life INSURANCE
Wow great knowledge here
So, the minimum payment is $500? Is is possible to buy a smaller policy? Also, is it like whole life where you can take loans and still make interest in the cash value, or is this mainly for retirement income? Thanks, and it sounds better than I had heard about before :)
No Savannah, your premium is dependent on what you policy is. You can absolutely buy a smaller policy. I am a licensed agent and can help you through it.
I had clients where agents sold the same gimmicks as this video does. They all lost 60%-100% "tax free" because they give you your own money back while the insurance company makes more money off their clients than their clients make... whenever an agent talks circles like this, I say "great, can you show me a real client where this worked out. Not theory and talk but real policies and real people." They never show up...
I am a real client, and it worked for me. I was skeptical like you as well because we have so many agents who don't understand the products or how to structure it. I had a plan 10 years ago, which i canceled immediately i got it because i was reading reviews from others from the internet and word of mouth. I regret doing that. Five years later, i met my financial professional who was amazing. He was detailed with his explanation. I took time to learn about it and finally understood it. It's the best leap of faith i have ever taken. I have a diversified portfolio, and in comparison to all my other investments, my IUL has performed better than all of them.
Awesome interview. Love it. Thx
Everybody loves taking about the pros but never the cons do you own research from what I’ve seen you can be capped doing this but the market has no cap
The cap gives you a floor in case the market goes south. When that happens your gains are locked in. Does the market have that downside protection? 🤔 I doubt it. This here depends on someone’s financial strategy. Remember it isn’t for everyone. Just like peanuts isn’t for everyone lol
Sounds like a sales pitch?
But who am I?
If you're getting the vaccine, make sure to call your life insurance provider and ask them if you're covered should you experience bad side effects or death. Most are saying they will not so make sure if you're one who has figured out it's taking thousands of lives.