Should you also have a trust as the owner of your policy? I know that I need a trust as the foundational protection for all assets. Do you advise about that as well for protecting your wealth building? Thanks in advance
Can I start my own Bank, invest my premiums in the DJ, S&P500, Indices where Banks invest there funds? IB concept is difficult to understand because it is not straightforward. I live in the UK where WLI is entirely lost funds.
You did not explain the best way to have an agent create one of these great policies. Also, when you go for a loan, its my understanding that the money you receive from the loan IS NOT from the cash value. The money is a loan from the insurance company. Your cash value will basically be used as collateral. You are not explaining certain things properly. If I am wrong, please educate me ASAP.
Blows my mind that anyone would buy this garbage. You should be ashamed for peddaling such an awful financial product. I suppose those massive commissions make it worth it to you. Get term life insurance and invest in the market. Or even a high yield saving account would outperform whole life insurance...
@@SteddieBopexactly. This person is just regurgitating Dave-speak. The commissions are much lower. I have no dog in the fight but people like that also spew rhetoric from their political leaders as well. There are some people that do NOT get any insurance at all and certainly aren’t “invest(ing) the rest”.
@1977Kingsolomon The commissions are typically right around the 1st year's premium. 500k policy is about $450/month, 5400/year. That's a pretty sizeable comission for 1 policy. Keep in mind that this comission is being paid by you from your premiums. They say themselves that cash value isn't "investing" because they know that the rate of return is aweful. They call cash value a perk of whole life insurance. And you leverage this liquid cash to use to use as an emergency fund, investing, or other life expenses. And you can use it anyway you want, unlike a bank loan. But this cash literally just comes from the higher premium you pay. You're giving them extra cash every month, which they give you access to as a loan. It's like a crappy high yeild savings account with high fees. We shouldn't be excited about getting access to money that should be ours anyway. The only benefit is that it forces you to contribute to future savings, but that hardly justifies all the expenses. You don't need a mathematics degree to figure out it's not a good wealth building tool.
@1977Kingsolomon The commissions are typically right around the 1st year's premium. 500k policy is about $450/month, 5400/year. That's a pretty sizeable comission for 1 policy. Keep in mind that this comission is being paid by you from your premiums. They say themselves that cash value isn't "investing" because they know that the rate of return is aweful. They call cash value a perk of whole life insurance. And you leverage this liquid cash to use to use as an emergency fund, investing, or other life expenses. And you can use it anyway you want, unlike a bank loan. But this cash literally just comes from the higher premium you pay. You're giving them extra cash every month, which they give you access to as a loan. It's like a crappy high yeild savings account with high fees. The only benefit is that it forces you to contribute to future savings, but that hardly justifies all the expenses. You don't need a mathematics degree to figure out it's not a good wealth building tool.
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Be committed to your policy. Thank you for breaking it down in this video.
Thank you for clarifying all of this!
WOW! I love your channel!
Should you also have a trust as the owner of your policy? I know that I need a trust as the foundational protection for all assets. Do you advise about that as well for protecting your wealth building? Thanks in advance
You guys sound professional!
Beautiful couple thank you for bringing so much value to me
thanks
Can I start my own Bank, invest my premiums in the DJ, S&P500, Indices where Banks invest there funds? IB concept is difficult to understand because it is not straightforward. I live in the UK where WLI is entirely lost funds.
Thank you
Love it
Link?
Can I start $500.00 and leave it till money grow or do I have to put money every month to make this work? You have a website link?
It's each month
You did not explain the best way to have an agent create one of these great policies. Also, when you go for a loan, its my understanding that the money you receive from the loan IS NOT from the cash value. The money is a loan from the insurance company. Your cash value will basically be used as collateral. You are not explaining certain things properly. If I am wrong, please educate me ASAP.
💙💙💙💙💙💙💙💙
Snowball is EXTREMELY STUPID!!
Blows my mind that anyone would buy this garbage. You should be ashamed for peddaling such an awful financial product. I suppose those massive commissions make it worth it to you.
Get term life insurance and invest in the market. Or even a high yield saving account would outperform whole life insurance...
If the policy is structured right, they shouldn’t be getting as big of a commission as you’re making out.
@@SteddieBopexactly. This person is just regurgitating Dave-speak. The commissions are much lower. I have no dog in the fight but people like that also spew rhetoric from their political leaders as well. There are some people that do NOT get any insurance at all and certainly aren’t “invest(ing) the rest”.
@1977Kingsolomon The commissions are typically right around the 1st year's premium. 500k policy is about $450/month, 5400/year. That's a pretty sizeable comission for 1 policy. Keep in mind that this comission is being paid by you from your premiums.
They say themselves that cash value isn't "investing" because they know that the rate of return is aweful. They call cash value a perk of whole life insurance. And you leverage this liquid cash to use to use as an emergency fund, investing, or other life expenses. And you can use it anyway you want, unlike a bank loan. But this cash literally just comes from the higher premium you pay. You're giving them extra cash every month, which they give you access to as a loan. It's like a crappy high yeild savings account with high fees. We shouldn't be excited about getting access to money that should be ours anyway.
The only benefit is that it forces you to contribute to future savings, but that hardly justifies all the expenses. You don't need a mathematics degree to figure out it's not a good wealth building tool.
@1977Kingsolomon The commissions are typically right around the 1st year's premium. 500k policy is about $450/month, 5400/year. That's a pretty sizeable comission for 1 policy. Keep in mind that this comission is being paid by you from your premiums.
They say themselves that cash value isn't "investing" because they know that the rate of return is aweful. They call cash value a perk of whole life insurance. And you leverage this liquid cash to use to use as an emergency fund, investing, or other life expenses. And you can use it anyway you want, unlike a bank loan. But this cash literally just comes from the higher premium you pay. You're giving them extra cash every month, which they give you access to as a loan. It's like a crappy high yeild savings account with high fees.
The only benefit is that it forces you to contribute to future savings, but that hardly justifies all the expenses. You don't need a mathematics degree to figure out it's not a good wealth building tool.
But can you use that line to invest etc and put it back? No, also when term runs out and it will, you have nothing.
Shame that you’re pushing this kind of garbage. Takes all the credibility away from your channel.