Retire Richer: Learn the Infinite Banking Concept Today | Chris Naugle
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- Опубликовано: 11 окт 2024
- To get started with your own Banking Policy, just like the wealthy do! Follow these steps... 1️⃣ 2️⃣ 3️⃣ ...
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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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🤣🤣😅 Good Stuff Chris and Team. Keep changing lives one policy at a time. You guys are amazing and I'm truly grateful that I met you (Chris) back in 2019 and started my 1st policy. My financial situation has only gotten better and will continue to increase by following the IBC guide-lines that you guys recommend. I have demolished debt, become a Private Money Lender and secured a future for my family and generations to come. Gratitude!
Important for the business to have a positive independent comment and review at the top of the comment section.
Kudos guys
Bro made a whole video of not explaining how it really works , just asking you for subscribing and luring you in to watch another of his videos by not telling you what it’s really all about. He does a good job but annoying. I started subscribing to channels that not only provide useful information but are not constantly urging you to like and subscribe. Besides that he’s good behind the camera
He’s got 100s of videos of explaining the “how”
@@jordanthompson5484 Perhaps , just after watching this one I did not check any of the others . It is just the fact that the title says “ explained “ but the explanation part is probably somewhere in those 100s of videos.
@@nikolaytodorov4084 that's fair. but most people who do this or are really interested have probably research tons of videos about it. So if this is really your first, then awesome. Welcome haha. keep watching videos about it. He's not the only one talking about it on youtube.
Thanks for the heads up
@@jordanthompson5484so are you actually implementing any of the ideas how's it working for you?
Great info. I did reach out and yall couldn't get it done, so went thru IBC and Guardian L 95. Keep sharing !
What do you mean they couldn’t get it done. I was going to set up an appointment today. Please let me know. I want to jump in but I don’t want to waste my time. Thanks!
That was so funny. I was not expecting debt lol. Just got off first live with Christy Duckett of South Carolina and this was great.
So funny
Loved the intro!
I'm 62. Is it too late or expensive to do this?
This is very similar to velocity banking just with an insurance component. Can you tell me how the built in commission and fees work? Also, what are the current interest rates when you borrow from the whole life account?
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!
is it possible to get meeting with your company ??
I would like to know what happens to the amount of available cash after u paid it back.
Say for instance ur premium is $10 000, u borrow 60% then repay that amount with 10% interest
Does that mean ur amount of available cash the next year (after paying the premium) accumulate or does it restart at 6000 (60%)?
Where do we get these "special" policies?
Where do I go to set one of these up
My team can help you out with the setup and design. Please reach out to craig@themoneymultiplier.com.
Thanks this info is great!
I'm new to this all and still learning how to properly structure infinite banks, iuls and indexed annuities, the imo I am working with seems to not wanna teach me so thay I remain dependent on them.
Anyone got any advice?
Hi Chris would it be able to set up BYOB in New Zealand
“Boo-boos”, eh? I think you want that hospital.. Weeny Hut General’s
I’m looking for the video that explains how the money grows I can’t find it. I was looking at it I had to go to work it was explaining how the money grows interest, yearly
Is this available to non US citizens?
Can the IBC work with a margin line of credit?
Wow I want more How????
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!
Great video!!! Question... is there a way to use your concept to avoid capital gains on the sale of highly depreciated rental properties? Thanks!
haha.. nothing will stop the gov from taking our money when the transaction happens outside our bubble... in other words, the public sale of your property to a third party where you gain profit from that transaction will not be protected from this strategy.
you can only shelter from tax the usual ways that the tax system has specified. but the ibc CAN be tax sheltered bc you are borrowing (from yourself).. funds from loans or death benefits are not taxed
The only time I saw anything about the "how" in this video was in the title. :(
Can someone please answer this for me: What amounts make sense to start a whole life policy if a person is over 60?? Also, my husband has a paid up life policy with a now-substantial death benefit.
I think this is more for you ability to access cash, which age wouldn't matter
Where do I start ?
Any place that offers whole life?
My team can help you get started. Reach out to my guy craig@themoneymultiplier.com.
Hi I really like this idea but 1 is there interest on the money that you borrow from your bank I know you don’t have to pay it back but it’s a good idea to pay it back. It is their interest on the money that you bought.
There are multiple interest rates at work here. There is the uninterrupted compound interest on the increasing balance of your account. There is a simple interest loan rate on the borrowed money that decreases as you pay back the loans. When you put the money to work, it also grows creating a positive arbitrage.
Is there any risks? How much should you have to open up an account?
Thank you!
if you can't afford your premium, your policy will be forfeited.
It’s extremely expensive and it also doesn’t work
@@mrthages Doesn't work is a pretty strong generalized stance. It really comes down to the individual and what their plans and goals are.
@@jemmrich and how much money that individual wants to throw away
@mrthages I can only talk based on my personal experience with such a policy and I'm obviously biased for number of reasons, so anyone reading take with a grain of salt. I would say it's something the average person probably shouldn't do unless they have a track record of being high income earner (no job loss) with clear long term goals. If stats are correct that 65% of people live paycheck to paycheck, it is certain to be a total loss for them, even if they invested in the stock market since there is a very high chance they would sell their position anyways.
I did a quick look to see what it would look like if I invested in an index fund at a hypothetical 8% which would work out to about 150k vs the 100k I have sunk into my policy. That's 50k of loss or opportunity loss and probably more like 60-70k wosre case scenario. However, I have borrowed large amounts at various times over the years, something I couldn't do with an index fund. Which would have triggered crazy capital gains tax. The interest I pay for a loan is ~6% with no repayment contract. I used it to pay off a vehicle and max out multiple years of RRSP contributions to which the refunds went back into my policy.
At the end of the day I don't see the 50k as a loss whatsoever because I have quick access to cash, my retirement funds are topped up and I never spend more than I can pay, all the while knowing that my family will be taken care of if I was to die tax free which is like 4x my cash value. Or if I want to live for myself, turn it into a retirement fund and leave little to no death benefit.
This is why it's important for anyone considering or wanting to learn more about it to speak to someone that builds these policies so that it fits the individual. Never hurts to book a meeting and ask lots of questions and walk away if it doesn't feel right.
Haahhaha that was great !!
Was the infinite banking concept explained in this video?
I sure hope so! 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!
This sounds like people who used to use credit cards to pay other credit cards.
Whole Life insurance policy - thats what it is, so you dont have to listen to all this waffling on
I’m too old,what can you do for me?
It would require a conversation to understand your specific plan of action. If you are not insurable, you can be the owner of another insurable interest (business partner or family member). Reach out to my guy craig@themoneymultiplier.com if you want to discuss.
All right so I have spent some time researching this after watching this video and I have two questions.
The first is, looking at what these policies cost from a premium perspective, after doing some math in a compound interest calculator I realized that the gain just putting those premium payments into a mutual fund is quite tremendous, seems to be more than you would be profiting from this concept. Am I missing something here? Does it only work because most people don't have the patients and self-control to invest money instead of spend it?
My second question is, what happens if you can't pay your premiums on time? Hard times here and you lose your job, or any other reason. Normally for a whole life policy this would lead to forfeiting the policy, is it the same here? Would that mean that you would lose all of your investment that you have paid through those premiums if hard times hit?
Look forward to hearing from you or other viewers as this is an interest of mine, thank you!
The first mistake is looking at the policy as an investment. It is not an investment. It is a place to store your money AND then use it again while it continues with uninterrupted compound interest. Don'f forget it also comes with a death benefit that can make a huge difference to your family in times of loss. If you can't continue the policy there are various options such as surrender where you walk away with the surrender value, cash value can pay the premiums and there are other options if this were to happen.
Yeah.... Whole Life policy folks. You need to over fund it to make it work.
Whole life insurance doesn't work the way most people advertise on these types of videos. While there are ways to get "savings" you can withdraw from, you aren't getting the amounts most of these videos advertise. There are better savings and investment options.
There's need for clear articulation of the concept....
If you fall for this, you deserve to be broke
I am no English
I didnt hear a fing😢😢😅😅
And the catch...Your payments to repay your loan cost you more than the interest gained in the account.
If you want to Be Your Own Bank, Buy Term and invest the difference in a Roth IRA. You'll end up being wealthier in the long run.
The reason these guys preach BYOB is because they make large commissions selling Whole Life.
"The problem in America isn't so much what people don't know; the problem is what people think they know that just ain't so." -- Will Rogers
Let's do the math then.
Check out my policy design videos to get an understanding this works
ruclips.net/video/ncqrEcN7xvs/видео.html
Plenty of use cases shown here with the math.
How would someone living paycheck to paycheck with $0 savings get this started? I assume the initial deposit needs to be a BIG One, so is this even possible for the majority of Americans??
Paying yourself first is an important part of the process. If living paycheck to paycheck it will require a combo of increasing income and decreasing expenses and debts.
Of course, the black guy punched him and stole his money. 0:07
Low value content
If you want to keep handing over your money to others and not take control of the banking function in your life, then continue on.
This is not at all informative. Instead, a complete waste of life.
TY.
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