Thank you both! Ive been applying velocity banking the past nine months and its amazing how I've accelerated my debt repayment. I openned my first four policies for myself and my family just last month and I'm looking forward to having all my remaining debts moved over to our family banking system by the end of the year.
@@albertmartinez6191 You really need to read the N. Nash book to answer all your early questions. IBC is a concept not a product and you could practice the concept with a rusty coffee can buried in the backyard as your bank although this is not the ideal way to practice. Think of the word bank in root form, as in a pile or collection of something, (food-bank, snow-bank, blood-bank). When you practice IBC you will still keep your current brick-and-mortar bank for daily bankcard transactions but the storehouse and management of the bulk of your capital is kept outside of this classic bank and is only transferred through it as needed. Unlike your rusty coffee can this pile of capital will grow ahead of inflation and can never go down, only up and you can lay your hand on it anytime with more ease than it takes to dig and rebury your coffee can.
Remember if we start with hardly anything we have to take steps, 4 digits is hen move to 5 in a couple years, then 6 in a few, it’s a marathon not a sprint
What if the housing market takes a dip and the value of your home goes down AFTER you took out HELOC to start this? This is all good if the equity you built on your home remains stable or increases. If it goes down after you took out HELOC on it, you can end up losing your home. Are there safeguards in place to prevent that from happening?
When he says pay the heloc back with the money you will “save” and dose not show where it comes from and what savings it comes from I get lost there…. What “savings” because the money from the payment on Credit cards and car payment is not being saved its being paid back to the whole life insurance… so their is not savings to pay back the 100K.… can someone help me understand what I'm missing? Also dose this require good credit or just good equity in the home ?
@@monikahuddleston3418in this scenario In this scenario, one must have a significant amount of equity in their home to be able to successfully borrow against and earn enough money to pay back both the $100,000 HELOC and pay the monthly insurance premiums, which will not be cheap. A regular whole life policy we checked on a short time back was for $50,000. The monthly premium without depositing $50,000 from a HELOC was $800! Last week the HELOC rate at my credit union was 7.25%, and only required a 1% loan payment. But at the end of 10 years, if not paid off it would convert to an amortized 15 year loan and be closed. A $50,000 HELOC may allow someone to do this but only if you have a very good paying job and bring home probably more than $4,000/month. Otherwise you will be paying off the HELOC for years, and still paying into the whole life policy every month too. I would think that you would need a minimum of $1,500 free cash flow to pay everything off in a timely fashion. With the current state of the world, I would not advise it! Time is short and once the time comes to wipe out all the worlds Federal Reserve Notes and reset to the coming one world political system and one world currency, then what? Who owns your debts and how do you regain control of your assets then?
The since the money from the credit card is paid off with the HELOC that payment is eliminated...you just take the payment you would normal make on that card since it's now paid off and pay it to the HELOC. Yes you need credit and equity for a HELOC.
Im lost too makes no sense he's trying to say 5% interest on 100k is less interest than the cc? Not to mention its basically 13 percent because 8 from heloc amd 5 from the wl l. Which then is essentially owing 200k. Not to mention now there two interest rates on the home the 8% heloc and whatever your rate was upon purchase? Seems to me he works for an insurance company... the only possible thing that comes of it all would be a death benefit but on that note no way does an insurance company let you put 100k in and take a loan out for 95k and still pay you interest on 100k they would be losing their ass if everyone did that..just doesn't make sense.
I nearly fell out of my chair laughing when he said they will just take the loan out of the death payout 😂 this is exactly what the wealthy do: use unrealized gains on assets they don’t pay taxes on
EXACTLY! 😂 You couldn’t even pay back the HELOC loan with that super high risk “investment” income of $142😂 You still owe all that money at the end of the day no matter which way you move it. The risk involved with doing all of this is like trying to build a house of cards during hurricane season in Florida. unless you have a staggering income or a staggering amount in your savings to cover all this risk, one breeze and you lose your house. But if you had all that you wouldn’t be trying to find some super complicated magical way to get out of debt.
Since I've gotten velocity banking down this is the next thing I want to get down. I'm just not sure about what company to go with. There are so many! My husbands place of employment is trying to get him to sign up for a retirement plan...I told him we need to do whole life insurance instead. I need more info! Pretty please!
Knowing how potential reforms may impact market growth is critical as the election approaches. Changes to your investment strategy may be required in anticipation of legislative developments, as well as repercussions on sector performance and market movements
Where do you get the $1000/month payment for the insurance policy? Looks like total monthly cost is 1108 for both loans + 1000 for life ins. Premiums = 2108 and only bringing in 1250 month....
Thank you. Would someone know similar possibilities in Switzerland? Which bank or insurance are offering this type of products allowing to implement this type of strategy?
I'm lost. You're still paying 9.125 on the heloc. Banks take risk which you also would doing private lending. How do you collect on default? Lawyer's fees?
Because You have an agreement to keep paying into this thing for life, and the assumption is that you are going to keep contributing for X amount of years while the insurance company compounds that money. the insurance company can use your money as collateral and access the federal funds rate to buy assets much like investment banks except they are more conservative with leverage which is why they all survived the financial crises and most that were around back then survived the Great Depression. So they could buy 2 or 3 times what you put in and invest conservatively and pay out a portion and so it compounds to 700k according to actuary tables, The insurance company is getting a return on your money and sharing some of it with policy holders. Warren Buffett uses Berkshire which owns insurance companies like Geico outright as his vehicle to get access to the federal funds rate and also within that to sell bonds and get access to capital at better than the federal funds rate. And so even with 50% of his money in tbills earning 5% he’s earning a 13% return on equity because of his cheap leverage. As a mutual beneficiary where the insurance plan is held among the policy holders you are sort of positioning yourself closer to being an owner since the mutual wholesaler life insurance companies don’t have shareholders. But you don’t get to borrow from 100% of your death bennefit, you get to borrow from the insurance company and can borrow a lot closer to what you put in with a lien against the death benefit.
How does it work if your pulling out funds from your Whole Life to make a down payment on an investment property. Any restrictions from the lender on using that money as a down payment on a mortgage?
Thanks you both. I am actually in closing process using the Traditional 30 year fixed conventional loan. How/may you please help me? I would love to start off using the first lien position HELOC.
I am sick to my stomach. We started be your own banker and I was so excited but the gentleman we signed up with did not understand it and we never implemented paying off our own bills with the BYOB concept. Here we are 22 years later and Close to retirement and in debt. My husband has a life insurance policy, but I do not believe it is the type that we can do the BYOB with. We’ll have to start all over or perhaps you could provide some insights on what to do with the current life insurance that we are already paying into a big black hole. Thank you, and God bless the work you do!
I don't live in Texas but I didn't think I was gonna be able to get a HELOC. So my idea was to buy Dollarcoin in Coinbase. It's value is always a dollar and never fluctuates and pays about 5%. Then get the Coinbase Debit card. I got a HELOC now but I'm still gonna get the Coinbase debit card.
Using Velocity banking now to pay off our mortgage, question for Chris - both my wife and I had cancer in the past (2018 for her, 2022 for me) would we even be able to get whole life policies? We currently have no life insurance
Keep watching their videos and you'll learn more and more. Vann shows you how to build your credit score in order to be able to obtain a line of credit you can use.
Thanks for answering, we just opened a checking account connected to a credit card we already had. It’s paid off but have 30k available credit. Will that work?@@stephengilstrap
High yield savings accounts, look into universal life insurance policies and also you should really get a personal line of credit! Please watch her videos! She has one on cash flows! I'm not an expert by any means, just a fellow person trying to learn to be better at this racket!!! ;)❤
Better to take 5k from the Heloc and provide liquidity for crypto assets or stake it with my OTC buddy ..each pays .3%+/- daily. Use that to repay the Heloc I use for chunking.
What most people do is use the HELOC to pay off the car and CC and then buy another car and run up the CC again. If they use an insurance company, then they run up the cc again and they have a premium payment to the insurance company.
A lot of missing details. Not everyone is healthy enough to qualify for WL, and this is best for those who are younger. Doesn’t work after a certain age because premiums are higher and death benefit is lower. Also, depending on the death benefit, there is a maximum amount that you can “dump in”, otherwise it becomes a MEC and you lose the tax free status. Again, so much missing information and this is only for the extremely disciplined individuals.
What if the housing market takes a dip and the value of your home goes down AFTER you took out HELOC to start this? This is all good if the equity you built on your home remains stable or increases. If it goes down after you took out HELOC on it, you can end up losing your home. Are there safeguards in place to prevent that from happening?
![Noob To Max With DRAGON REWORK In Blox Fruits [FULL MOVIE]](http://i.ytimg.com/vi/LnBMOinoOvA/mqdefault.jpg)
Thank you both! Ive been applying velocity banking the past nine months and its amazing how I've accelerated my debt repayment. I openned my first four policies for myself and my family just last month and I'm looking forward to having all my remaining debts moved over to our family banking system by the end of the year.
@capogiraffe Excited for you!!
I am also working on doing the same. I have been doing the Velocity method for 4 years now. Works like a charm.
What bank do you use?
@@albertmartinez6191 You really need to read the N. Nash book to answer all your early questions. IBC is a concept not a product and you could practice the concept with a rusty coffee can buried in the backyard as your bank although this is not the ideal way to practice. Think of the word bank in root form, as in a pile or collection of something, (food-bank, snow-bank, blood-bank). When you practice IBC you will still keep your current brick-and-mortar bank for daily bankcard transactions but the storehouse and management of the bulk of your capital is kept outside of this classic bank and is only transferred through it as needed. Unlike your rusty coffee can this pile of capital will grow ahead of inflation and can never go down, only up and you can lay your hand on it anytime with more ease than it takes to dig and rebury your coffee can.
Thank you both!! Imagine us becoming individual banks to make money for ourselves and our family. Now that's sweet to our futures! Right tribe? 🤗🙏🥰
Remember if we start with hardly anything we have to take steps, 4 digits is hen move to 5 in a couple years, then 6 in a few, it’s a marathon not a sprint
Please do an infinite banking scenario for someone who has no debt but wants to build wealth.
@vickiesmith8308 Good thought. Chris Naugle could do that!
I'm in for this one.
Me too.
Me too
Me too!!!
What if the housing market takes a dip and the value of your home goes down AFTER you took out HELOC to start this? This is all good if the equity you built on your home remains stable or increases. If it goes down after you took out HELOC on it, you can end up losing your home. Are there safeguards in place to prevent that from happening?
When he says pay the heloc back with the money you will “save” and dose not show where it comes from and what savings it comes from I get lost there…. What “savings” because the money from the payment on Credit cards and car payment is not being saved its being paid back to the whole life insurance… so their is not savings to pay back the 100K.… can someone help me understand what I'm missing? Also dose this require good credit or just good equity in the home ?
I don't understand that either. I've watched several videos and I'm still missing it.
@@monikahuddleston3418in this scenario
In this scenario, one must have a significant amount of equity in their home to be able to successfully borrow against and earn enough money to pay back both the $100,000
HELOC and pay the monthly insurance premiums, which will not be cheap. A regular whole life policy we checked on a short time back was for $50,000. The monthly premium without depositing $50,000 from a HELOC was $800!
Last week the HELOC rate at my credit union was 7.25%, and only required a 1% loan payment. But at the end of 10 years, if not paid off it would convert to an amortized 15 year loan and be closed.
A $50,000 HELOC may allow someone to do this but only if you have a very good paying job and bring home probably more than $4,000/month. Otherwise you will be paying off the HELOC for years, and still paying into the whole life policy every month too. I would think that you would need a minimum of $1,500 free cash flow to pay everything off in a timely fashion.
With the current state of the world, I would not advise it!
Time is short and once the time comes to wipe out all the worlds Federal Reserve Notes and reset to the coming one world political system and one world currency, then what? Who owns your debts and how do you regain control of your assets then?
The since the money from the credit card is paid off with the HELOC that payment is eliminated...you just take the payment you would normal make on that card since it's now paid off and pay it to the HELOC. Yes you need credit and equity for a HELOC.
It’s the savings from not paying the interest. That’s what I thought but is that correct?
Im lost too makes no sense he's trying to say 5% interest on 100k is less interest than the cc? Not to mention its basically 13 percent because 8 from heloc amd 5 from the wl l. Which then is essentially owing 200k. Not to mention now there two interest rates on the home the 8% heloc and whatever your rate was upon purchase? Seems to me he works for an insurance company... the only possible thing that comes of it all would be a death benefit but on that note no way does an insurance company let you put 100k in and take a loan out for 95k and still pay you interest on 100k they would be losing their ass if everyone did that..just doesn't make sense.
I nearly fell out of my chair laughing when he said they will just take the loan out of the death payout 😂 this is exactly what the wealthy do: use unrealized gains on assets they don’t pay taxes on
I missed the part where he paid back the HELOC. How does that even happen?
EXACTLY! 😂 You couldn’t even pay back the HELOC loan with that super high risk “investment” income of $142😂
You still owe all that money at the end of the day no matter which way you move it.
The risk involved with doing all of this is like trying to build a house of cards during hurricane season in Florida. unless you have a staggering income or a staggering amount in your savings to cover all this risk, one breeze and you lose your house. But if you had all that you wouldn’t be trying to find some super complicated magical way to get out of debt.
Since I've gotten velocity banking down this is the next thing I want to get down. I'm just not sure about what company to go with. There are so many! My husbands place of employment is trying to get him to sign up for a retirement plan...I told him we need to do whole life insurance instead. I need more info! Pretty please!
Same cuz I went with triple aaa for uli I don’t know how to go about this and I would be paying 395 a month but I am 45
Yes!
Knowing how potential reforms may impact market growth is critical as the election approaches. Changes to your investment strategy may be required in anticipation of legislative developments, as well as repercussions on sector performance and market movements
How do you go about investing? I'm having difficulties thinking of a plan
Who is your advisor?
Thanks for the pointer. Will search her up
Who gets the cash value?
Where do you get the $1000/month payment for the insurance policy? Looks like total monthly cost is 1108 for both loans + 1000 for life ins. Premiums = 2108 and only bringing in 1250 month....
For first 8-10 years you have to fund the Policy. Start with $10k and $100 a month. Once it's funded it is self sustaining.
How is Specially Designed Whole Life different from any other Whole Life?
@star Designed for cash value
Is it even possible to get a Specially Designed Whole Life Policy at 62 years old?
Thank you. Would someone know similar possibilities in Switzerland? Which bank or insurance are offering this type of products allowing to implement this type of strategy?
Isn’t Infinite Banking Whole Life Insurance?
Can this be done even if you don’t own a home? Or if you just purchase a home and haven’t yet build up enough equity?
Does this strategy also work with a personal line of credit instead of a HELOC?
I was wondering that too
Yes it does, just smaller bites
I'm lost. You're still paying 9.125 on the heloc. Banks take risk which you also would doing private lending. How do you collect on default? Lawyer's fees?
17:44 a loan against your death benefit also comes with intrest correct? If so he didn't mention it.
He did… it’s 5%
@ Vanntastic - Please post a video that people born with Pre-Conditions can do. Life insureance policys are not avalible to us.
I want to know how if this works in NZ
Honest question, why would I need infinite banking if I don't plan on financing purchases in the future
we finance everything we purchase.
@@emojidinosaur7300 why
How do you figure $700K death benefit on a $100K policy? I missed that part.
It’s based on your income and health
Because You have an agreement to keep paying into this thing for life, and the assumption is that you are going to keep contributing for X amount of years while the insurance company compounds that money. the insurance company can use your money as collateral and access the federal funds rate to buy assets much like investment banks except they are more conservative with leverage which is why they all survived the financial crises and most that were around back then survived the Great Depression. So they could buy 2 or 3 times what you put in and invest conservatively and pay out a portion and so it compounds to 700k according to actuary tables,
The insurance company is getting a return on your money and sharing some of it with policy holders.
Warren Buffett uses Berkshire which owns insurance companies like Geico outright as his vehicle to get access to the federal funds rate and also within that to sell bonds and get access to capital at better than the federal funds rate. And so even with 50% of his money in tbills earning 5% he’s earning a 13% return on equity because of his cheap leverage.
As a mutual beneficiary where the insurance plan is held among the policy holders you are sort of positioning yourself closer to being an owner since the mutual wholesaler life insurance companies don’t have shareholders.
But you don’t get to borrow from 100% of your death bennefit, you get to borrow from the insurance company and can borrow a lot closer to what you put in with a lien against the death benefit.
Where can you find a simple interest helock?
All HELOC are simple interest
Do you have a specific whole life insurance company I should go with? Please let me know if you have a recommendation. Thank you
@timothywanless1507 I use Chris Naugle's team. You can go here to schedule a consultation with their group... moneyschoolrei.com/christy
How does it work if your pulling out funds from your Whole Life to make a down payment on an investment property. Any restrictions from the lender on using that money as a down payment on a mortgage?
No. you can use this as a down payment when getting a mortgage for a property.
Thanks you both. I am actually in closing process using the Traditional 30 year fixed conventional loan. How/may you please help me? I would love to start off using the first lien position HELOC.
I am sick to my stomach. We started be your own banker and I was so excited but the gentleman we signed up with did not understand it and we never implemented paying off our own bills with the BYOB concept. Here we are 22 years later and Close to retirement and in debt. My husband has a life insurance policy, but I do not believe it is the type that we can do the BYOB with. We’ll have to start all over or perhaps you could provide some insights on what to do with the current life insurance that we are already paying into a big black hole. Thank you, and God bless the work you do!
@llamb7518 That's not good. Contact Chris Naugle's team ... they can direct you. Go here to schedule an appt... moneyschoolrei.com/christy
Wouldn't you take the $ you were paying the banks for the car an credit cards and pay the heloc first. Then use that money to pay the loan on your WL?
Why pay back the life policy if it's a push? Why not just pay back the HELOC directly, then repeat?
Texas doesn’t allow HELOC. What’s a process for that?
I don't live in Texas but I didn't think I was gonna be able to get a HELOC. So my idea was to buy Dollarcoin in Coinbase. It's value is always a dollar and never fluctuates and pays about 5%. Then get the Coinbase Debit card. I got a HELOC now but I'm still gonna get the Coinbase debit card.
Texas does allow first liens (I have lenders now) and 2nd position HELOCs.
@ what’s that process?
@dr.randle Infinite Banking
@@VanntasticFinances whats a first lein and 2nd position HELOC?
What are other options to fund the policy. I live in Texas, so the hel9c is NOT an option.
HELOC is an option in Texas
HELOCs are available in Texas. Check out your local credit unions.
Which credit union?
@@dr.randlecredit union of texas
Using Velocity banking now to pay off our mortgage, question for Chris - both my wife and I had cancer in the past (2018 for her, 2022 for me) would we even be able to get whole life policies? We currently have no life insurance
I’m curious about this same thing. No cancer, but significant health diagnosis. Will that prevent me from getting whole life insurance?
@@sdmohlerprobably not but your monthly premiums will probably be unobtainium!
I’m surprised there is no answer to this question. I just got a group life policy for a new job and I had to do an extensive health questionnaire
I want to start one today!
Not understanding
I only have SSA payments
I got sick can't work
Now really in debt without hope
Keep watching their videos and you'll learn more and more. Vann shows you how to build your credit score in order to be able to obtain a line of credit you can use.
How does someone who doesn't own a home join this party?
PLOC personal line of credit
Thanks for answering, we just opened a checking account connected to a credit card we already had. It’s paid off but have 30k available credit. Will that work?@@stephengilstrap
this is a great concept, how would you be able to do this without a heloc? for those who don't own a home.
PLOC. Personal line of credit. Get one from your local credit union or bank.
Look into universal life insurance policies.
How can a renter on retirement benefit? $1000 a month income. No credit cards. No debt. There has to be a way to thrive instead of just survive.
High yield savings accounts, look into universal life insurance policies and also you should really get a personal line of credit! Please watch her videos! She has one on cash flows! I'm not an expert by any means, just a fellow person trying to learn to be better at this racket!!! ;)❤
@Irishjay IUL cannot be used when setting INFINITE POLICIES up like Nelson Nash taught. Thanks for watching!
ok, where do we go to get a policy or get started?
take a wild guess. lol
Better to take 5k from the Heloc and provide liquidity for crypto assets or stake it with my OTC buddy ..each pays .3%+/- daily. Use that to repay the Heloc I use for chunking.
Riskier
I probably screwed up taking a heloc
Elaborate please.
Ok how long till we are able to withdraw money, I just got into uli and the lady told me I would have to wait 5 years to withdraw 20k
Rip. Cancel that. Not all policies are created the same
@@Beyond_bank_notes your telling me to cancel this who do I call
I would steer away from those policies.
IUL is the wrong type of policies to use for this.
Dividends are just refunded from your over funding g though right?
Correct. It’s a return of premium
HELOC - Credit score dependent . It sucks
What most people do is use the HELOC to pay off the car and CC and then buy another car and run up the CC again. If they use an insurance company, then they run up the cc again and they have a premium payment to the insurance company.
Yes and that is how people get In trouble with money. You must be disciplined to do this method.
I use Supernova financing. Its much better than this complicated stuff.
Most of us can't afford a house payment or a car payment . we have neither . 👎
Yes simplicity
❤😊
I truly think this is crazy
Hello
Just erases and "forgets" that the 50k and $500/month is still owed 9%. Lol
You’re missing the velocity banking mechanics. It’s not that simple, and is actually better than what you assume
Your not understanding this at all
A lot of missing details. Not everyone is healthy enough to qualify for WL, and this is best for those who are younger. Doesn’t work after a certain age because premiums are higher and death benefit is lower. Also, depending on the death benefit, there is a maximum amount that you can “dump in”, otherwise it becomes a MEC and you lose the tax free status. Again, so much missing information and this is only for the extremely disciplined individuals.
🤯🥳🤑
If people do not have enough discipline to avoid $20,000 in credit card debt, they will not have the discipline to pay back their insurance loans.
👍👌💪
More of the same
What if the housing market takes a dip and the value of your home goes down AFTER you took out HELOC to start this? This is all good if the equity you built on your home remains stable or increases. If it goes down after you took out HELOC on it, you can end up losing your home. Are there safeguards in place to prevent that from happening?