As a young african American. This is information you will never and I repeat. Never find anywhere near a “ghetto or hood” and the people who do know are tight lipped. I will be learning as much as I could and using this knowledge to leverage what I already know and to build generational wealth and break generational curses places upon my bloodlines and people. Thanks guys and hats off to you.

@john6143

3 жыл бұрын

I’m middle aged white guy and this information I had to search years for myself. It’s not necessarily that no one is sharing this information in these location. Most than likely those around don’t know the information either. I have been frustrated with society’s ways of sharing their sacred cows of financial advice since everyone says the same thing. There is always a better way! If one will search long enough and enough different places to find what he/she is looking for.

@baddi3tingz-backblockbaddi313

3 жыл бұрын

I’ve been sharing this for years no ones listened because I’m a woman from the hood.. my mother did and is quietly sitting on $$$$$ don’t tell my dad, he kept his IRAs ..

@taronlee3419

3 жыл бұрын

John Neel yes I agree. I’ve spent the last 10+ years self studying and buying tons of books and watching 1000’s of hours of self help ajd financial literacy books. Not just on financial literacy but on ancient and suppressed knowledge and just about every topic known to man, including spirituality. The ruling beings want to keep the masses as a slave race for their bidding so they purposely only keep the real knowledge circulating amongst the rich wealthy and powerful ... part of the reason why KZread and other social media platforms have been banning and censoring truth. Now that you know this info it’s our duty to reach and teach our children to pass it on etc. stack gold and silver and bitcoin and let’s get ready to ride this financial global reset and acquire a piece of the greatest transfer of wealth we will ever see... Everyone here watching this video was led here for a reason. Only 1% of the 99% will ever be financially literate. Consider yourself among the few!

@taronlee3419

3 жыл бұрын

John Neel May I ask what led you here to watch this video?

@taronlee3419

3 жыл бұрын

Baddie Raw N Uncut! Also get some seeds and land. Learn how to grow just in case SHTF

I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability.

@admin4895

3 жыл бұрын

Invest globally in bitcoin, gold, silver, forex market, commodities. Just don't be left out and save yourself.

@Sarah-ku5pd

3 жыл бұрын

Good talk I tell that to my friends everyday. Saving is good investing is much better, I used to think saving would save me but NO, saving is just keeping to spend later.

@joesefmarley6495

3 жыл бұрын

@@admin4895 What if you don’t know how to trade any of these?

@rodrigo2014

3 жыл бұрын

@@joesefmarley6495 I mean.... I see your point. Some people have money and are willing to invest but the problem is where to.

@Andre-wl8ck

3 жыл бұрын

@@joesefmarley6495 This is 2021 People who aren’t even traders makes money from stocks, crypto and forex market.

Great interview - but I’d recommend taking out the music. It’s hard to hear you guys speaking clearly

Thanks For sharing--straight to the point. I appreciate the direct commentary and credibility. For those that don’t know the value of life insurance, now they can get it! Douglas Andrew breaks down the basics while making it clear how indexing works. Simple Compounding Interest!

There’s a lot of powerful points made in this, Matt! I actually enjoyed the dialog on investment options for a 401K to insurance because I think a lot of clients dont understand the magnitude of what investment grade insurance can do. The wealthy are wealthy because they understand these concepts. The poor are poor because they lack the will to be educated.

@stacyisnspireddantzler9704

3 жыл бұрын

Agreed.

@josephineedet7624

3 жыл бұрын

Yes and yes

@M31eighty

3 жыл бұрын

Many of us are woefully unaware of our true potential - I see this as a powerful contributing factor, but one we all may overcome. Each woman and man in their own time.

I'm blown away Matt! So many financial nuggets just got dropped by your long time mentor. Definitely saved on my playlist, need to watch a few times. Thanks brotha!

Man this is the exact language my CPA prospect needs to hear. This will help to not only increase my AIM market but educate my clients💪🏾 Knowledge is power

My biggest take-away from, How The Rich Get Richer Using Life Insurance, that we need to become as knowledgeable as we can about our profession; and pass that knowledge onto our customers to enable them to be in the best possible financial position they can be. And that, "It isn't a matter of whether, but when the next crash is coming." And Douglas Andrew a renowned Financier, believes it is right around the corner. I will listen to this video over and over again, until it becomes a part of me,, so I too, like you Matt, understand and can use this knowledge for my customers.

The rich continuously get richer, and the poorer continue to get poorer. It's all about education and know how. As an educator I love to hear about others journey as they dispel unfounded beliefs about their finances. It's why I do what I do. Love the video Matt!! Definitely will continually share.

What an eye 👀 opening video! I listened & welcomed the revelation teaching from this Teacher, Mr. Douglas Andrew. Thank you Matt.

One of the key interviews to be shared for sure. thank you both 👍

Great video Mr. Sapaula 👏 Very informative and an eye opener for sure!

I’m ordering this book now! I’m in Memphis, Tn. Matt!!

MATT THIS IS CLASS! ABSOLUTELY CLASS! SOLUTE TO YOU BROTHER! LOVE FROM THE UK

This video added so much value! Being a life insurance agent is the most prestigious job out there and I’m humbled to have you as a mentor Matt! And is A great tool to send to Prospect

Knowledge is power!

Yeah man! This one is a gem... loving it thank you... I'm not done watching it but I've been interested in IUL for awhile and just trying to figure out what/where to go with my interest. I need to rewatch the part about moving home equity into IUL... I didn't gather all that.

Wow! Fincial Literacy! A never ending journey to wealth! Great knowledge and insight! Peace & B Great!!!

Excellent video! I'm glad I'm with PHP and learning this great value to help my family and community Worldwide! I would've never known The Financial Insurance Industry would be so lucrative and promising short and long term blessings!

Amazing information! Keep up the good work Matt. Thanks for sharing

Wisdom Like Solomon!! FROM GOD! just paused video and ordered book back to video. Follow the right leader!!!

At 6.31 he made the mistake of saying 1million to 4million is a 400 % return. It's only a 300% return because you already have 100%. This is a common misconception.

@SGBoffice

3 жыл бұрын

@Rudy Miller What we have here is a difference in terminology. I was thinking about profit while the example he gave uses the word " return ". On the other hand people sometimes use the expression " return on investment " which would not include the original investment.

Thankful and grateful for the information..

What an amazing Interview Matt. I love how you and Doug Andrew covered some of the biggest topics that 99% of America needs to learn about. Super proud to be in business with you, out of the Pacific Northwest in Oregon.

Awesome interview. Thank you for sharing!

I'm so grateful for your content! I'm 22 and studying for the provincial LLQP exam and I feel confident in my future

Awesome video Matt! I already have Missed Fortune 101 in my library...This video motivates me to begin reading it or at the very least download the audio book. I’m missing out on some great information. My biggest takeaway were the additional nuggets to overcome objections from my AIM market who are in the financial field as well as those who have “financial advisors”. Thanks Matt. Going to read the book and be prepared to discuss with you!

You both just changed my life for the best. Now I’ll change the lives of others for the best. Thank you. See you at the top.

Great interview and I definitely want to purchase his books and implement his investment strategies.

Wow great video! Very powerful acknowledged. what book have you read that I should read that relates to this topic. I desire to get clear about this particularly area (rollovers/IULS etc.) and be able to explain it to clients and also make it simple enough to teach others.

Great stuff! Thanks Matt

I just got my life & health agent license. Thanks for all the details on index universal life. I learned as much as I can convince my future clients.

I don’t understand why most people don’t like Whole Life! I started with Northwestern Mutual which did well for me. Then I read, What Would the Rockefeller’s Do and that was a good introduction to what was discussed in this interview. I’m 65yrs old and want to make the most of the few dollars I have by buying insurance on my grandkids. But, I’m gonna read the books and see if there is something I can do before year’s end to protect from taxes.

amazing content , the background music is killing me so distracting !

@7FigureSquad

3 жыл бұрын

Noted. We listened and we got better.

Andrew is an Apostolic Father in this New Century! Legit

I remember hearing Ed Slott 15 years ago on pbs, and I couldn’t fathom the concept he was conveying. I think I’m starting to get it!

Thank you Matt for this interview with Mr. Andrew. As an educator I love the fact that he wants to help educate people about life insurance, how it can transform lives, and the power of Index Universal Life. I'm excited that I was introduced into the life insurance world not only to help myself but to help others. There is so many things I have learned and it has not even scratched the surface on all the knowledge inside this industry. I'm so gratiful to have an opportunity to transform others lives.

Great interview. Thank you so much for this info. I would love to join your squad

@7FigureSquad

3 жыл бұрын

You are so welcome! Feel free to reach me at moneysmartguy.com to get to know you more and see if we are a good fit to one another in business!

@michaelmensah4720

3 жыл бұрын

I am also a insurance agent in Chicago

Great information

Am a baby boomer and growing up in New York City in the early 1960's didn't present me or my single Mother with 6 children the opportunities of generational wealth with a life insurance policy. I was blown away when i got into the industry in 2016 !!! I am so grateful that i can share this information to others that need to know and protect them!

@josephineedet7624

3 жыл бұрын

Yes indeed. I agree

@mariosanchez8800

3 жыл бұрын

Well your only life insurance options in the 1960s was either term life insurance or whole life insurance universal life was not introduced until the 1980s back in the 70s you were better off any tax deferred plan anyway because the marginal tax rates were higher today taxes are at an all time low and predicted to go up In the near future Which is why vehicles like the Roth IRA and CVLI plans are favorable to use for tax free savings

@mariosanchez8800

3 жыл бұрын

Well your only life insurance options in the 1960s was either term life insurance or whole life insurance universal life was not introduced until the 1980s back in the 70s you were better off in a tax deferred plan anyway because the marginal tax rates were higher today taxes are at an all time low and predicted to go up In the near future Which is why vehicles like the Roth IRA and CVLI plans are favorable to use for tax free savings

OUTSTANDING CONTENT!!! MATT, HOW CAN I GET STARTED???!!!

Love it

Is this only possible in the US or can this be done in Canada? Thanks for all the content.. just discovering you and much appreciated. God bless

I realize the background music when I saw a comment on the music 😂😂😂

This is a great expose. Thanks to Mr. Andrew for his mastery and simplification of the hidden secrets of wealth: "Deeds, Titles, and Articles of incorporation". I hope to read his Laser Fund to better understand the wealth of knowledge he has. Thanks Matt for sharing. Please advice on what a beginning entrepreneur can do to start investing in this system. Thanks.

@7FigureSquad

3 жыл бұрын

Sure thing 🤜🤛 send ur info here www.MoneySmartGuy.com

Crazy how I came across his book “last Chance millionaire” while doing d2d and now I’m transitioning into the insurance industry and seeing this video as I’m doing my research

@loyaldeterminedcom8234

3 жыл бұрын

Just Brought The Book Because Of You

@tylersimpson67

3 жыл бұрын

@@loyaldeterminedcom8234 that’s awesome, I think you’ll really enjoy his book. You should check out Garrett Gunderson as well, he’s got some awesome books regarding financing and life insurance eg. “Killing sacred cows” and “what would the billionaires do” killing sacred cows are about some of the biggest financial myths that are apparent today and what would the billionaires do talks about how the Rockefeller family used a special life insurance policy to create a family banking system

Awesome video!

Excellent

This is the shizz to say the least. Mahalo Matt!!!!!

So how do you do it then? How do we start?

I wanna be like you when I grow up. 👍

I wish someone would’ve thought me this!! I’m 20 but going to do some crazy shit just watch!! It’s just the beginning 🤪

@jReze

3 жыл бұрын

You got it! 💪🏾

@6figureambition

3 жыл бұрын

Yo bro can you share some info with me ?

Which of your books would you recommend reading first?

Doug the man

Why the background music?!

Wow ....."the recipe"

become your own bank is the KEY for wealth secure a....(dividend-paying whole life insurance)

@danielleon5074

3 жыл бұрын

Dividend Paying Whole Life Insurance won’t get you there in this negative interest rate environment we’re in. A properly funded variable universal life will, you must be invested in equities to outpace inflation. Inflation and taxation are the biggest enemies to wealth accumulation.

@nessa4997

2 жыл бұрын

@@danielleon5074 how do I do this?

@danielleon5074

2 жыл бұрын

@@nessa4997 By scheduling an appointment with me.

How is a “return” generated through life insurance??? What are the steps in the process???

Yes, but how do you buy it without the massive broker fees that kill the compound?

@everetteborr

3 жыл бұрын

Yes, and how the cost of the downside hedge kills the compound, too.

Nice I’m Amaze

nice marketing skills

Best plan has both equities AND permanent life insurance. This guy is a one trick pony. A properly diversified portfolio has never failed. Gotta have a holistic approach. Leverage is the key.

Good stuff! Are there any agents in the Aurora, IL area that are offering this Universal max funded life insurance product that we can meet with to discuss this further?

@lynanyamwaya4901

3 жыл бұрын

I am licensed in Illinois. Book an appointment calendly.com/lynamkr/insurance-information

@jvillawst

3 жыл бұрын

Traci, I can gladly connect you with someone who I’m a client for. They teach you financial literacy along with the product to ensure that you understand the concepts completely.

@jvillawst

3 жыл бұрын

Traci, I can gladly connect you with someone who I’m a client for. They teach you financial literacy along with the product to ensure that you understand the concepts completely.

Thank you, Matt, for being a wealth of knowledge to us and rest of the society following you on KZread. It's incredible to know the Matt I have come to know over the last 6 years where he attains much of his knowledge from. I remember when you mentioned so in my beginning stages how you went to study under Douglas Andrew, much of our presentation and curriculum we educated the mass comes from Mr. Andrew and his book Misfortune 101. My biggest take away is as follow. Even the Upper Middle Class and Upper Class are unaware of the functionalities of Life Insurance outside of the death benefit aspect and how you can structure to avoid taxes or overpaying on them There is strong lack of will to educate individual in society by Other Financial Professional as each person is being looked at as "Wam bam thank you ma'am" transaction. The collaboration of service and education can and will help rise underststanding. Lastly there is a high demand for our Multucultural folks needing to fill a voice of reason for our respected communities. We need to understand the opportunities and not question our capabilities. Because, the opportunity is in helping others, transforming life's, envoking hope and a breath of fresh air for those in panic or gasping for air.

Matt 🥳🥳🎉🥳💪💯💪💞

Immediately after the interview I went on amazon and bought his book... it was the last one on stock 😂

Can the available Cash Value in my Policy be considered as Reserves to the banks for my Downpayment to purchase a property ?

@7FigureSquad

3 жыл бұрын

When you fill your 1003 mortgage application it is listed as an asset. It’s up to the underwriters to see it that way...check with your mortgage professional

What insurance company are you recommending though?

@7FigureSquad

3 жыл бұрын

The product recommended (IULs) could be found in multiple Insurance Companies, it varies based on their rates and the client's budget and financial needs and goals. Feel free to reach out to me on moneysmartguy.com if you're interested in knowing your options and getting a FREE Quote!

@cdsersd2d

3 жыл бұрын

I've never met a millionaire that got rich off of life insurance. Not one. And I know over a dozen.

@cdsersd2d

3 жыл бұрын

Go to any golf club that charges about $100 per round for golf. Go there in the morning before Tee time survey the rich people and ask them what was their best investment they ever made. You will find out what exactly pays off. Go there on the weekday when everyone else is working, but they are not working. Most of them are retired or working just for fun. Those people have well over $100 to blow on golf and they aren't working.

my name is LE Brown and I am a new licensed agent, I truly believe all that is taught here. My question is what do i do to release or remove some fears i have due to my new fresh start and by the way I'm starting at age 58?

@josephineedet7624

3 жыл бұрын

Congratulations LE Brown for getting started! Do not let fear paralyze you. Start by affirming morning and night that you are well able to do this and do it as well as anybody else!!! The results will begin to come in!

@lebrown3280

3 жыл бұрын

@@josephineedet7624 Thank you josephine; how encouraging are those words.

IUL

Dang looking back they predicted this... man wish I saw this last year

@josephineedet7624

3 жыл бұрын

Hi Destiny. It's not too late. Let us get started now

@TheBookofrhymes

3 жыл бұрын

Facts!

If this gentleman wasn't selling life insurance, I would take this much more seriously.

@7FigureSquad

3 жыл бұрын

But if the information are TRUE and PROVEN, then what difference does that make?

@salahuddinmuhammad3251

3 жыл бұрын

Because I've heard both pro and con about doing it, from people within the industry and also financial advisors. I don't use KZread for my financial advice. But it sounds interesting but I have to do more research into this. Cuz I have financial advisors tell me definitely not to do that with life insurance

@SriRam-fp1kt

3 жыл бұрын

@@salahuddinmuhammad3251 the irony of saying not using youtube for financial literacy while on KZread.

@iamOAKland

3 жыл бұрын

It went over your head by your comment.

@iamOAKland

3 жыл бұрын

@@salahuddinmuhammad3251 if JC Penny, and Walt Disney used Whole Life Insurance strategy to fund the starting of his business, because the banks denied him.

Best place to buy this insurance?

@7FigureSquad

3 жыл бұрын

Send me ur info at moneysmartguy.com and we’ll gladly have one of our agents reach out👊

What about any agents in cincinnati, ohio?

@7FigureSquad

3 жыл бұрын

None ... we have agents licensed to do biz there frm other states

I canceled my insurance policy because I'm getting much better returns on a different investment. Nothing against life insurance only problem i have when i canceled it thousands of dollars the insurance company transamerica kept my money for surrender charge i was thinking a fee but they kept all my money.

@7FigureSquad

3 жыл бұрын

When you sign for a life insurance policy, the agent discloses to you the SURRENDER CHARGES of a policy. This charges ONLY apply IF the policy is surrendered, or canceled, earlier than the surrender charge period. Otherwise, these charges NEVER get imposed for the life of the policy if held to maturity or after, again, the surrender charge period.

@jamesvillegas877

3 жыл бұрын

@@7FigureSquad maturity is 15 years. I called them and they guy pretty much told me keep paying us for 15 years and maybe you can take your money out.

Your good at holding half of the information here. We does this I guarantee you wouldn’t want to do a debate on your show cuz it would be like Jordan Belford to Grant Cardone I Would dissect the crap out of your “Holy” Policy and reveal the “Holy” truth.

@7FigureSquad

3 жыл бұрын

Sadly there is only so much we can cover in 1 episode. I’m sure I’ve got plenty content for you to find pt 2. Glad you took the time to watch. Even our videos help our up and coming competitors in some way.

Sounds too good to be true... Is this real?

The only people saying life insurance is a good investment are life insurance agents themselves. I’m not talking about protecting your wealth, you need life insurance to do that. But I’m sure the rich and wealthy wake up every day saying “I should probably buy more Universal Life insurance” as an investment, instead of buying real investments like stocks, real estate and buying other businesses. I’m sure there’s great content in here that helps people but I just could not listen after I heard that life insurance investments blow others out of the water.

@MrNanah38

3 жыл бұрын

I was thinking the same, I have always learned that you buy term life and then invest the rest, not whole life. This guy is saying the opposite.

Instead of depending on charity pay your taxes and elect politicians that will spend it accordingly.....I can dream can't I?

Recently, I asked to an insurance broker and to an experienced agent, and they told me there is no such policy what you are saying, what is the name of the product and the companies the offer those kind of policies?

@josephineedet7624

3 жыл бұрын

Hello Quinn. We offer these policies. You can contact me Josephineedet2@gmail.com

@logan_kassner

3 жыл бұрын

They are discussing Universal Indexed Life policies. It's a concept that is fairly new in the insurance world. The product has a lot of controversial stances around it like a lot of permanent insurance vehicles. The premise of the product is you pay for a life insurance policy and inside of it are two components: 1 bucket that pays for the cost of insurance and another bucket that is used as an investment. In the investment bucket it commonly mimics the S&P500 or other general indexes. You are capped at a ceiling of ex. 12% and a floor of 0% The things many don't talk about is that the cost of life insurance increases as you get older and can sometimes cause policies to lapse if not closely paid attention to. Also the fee the company takes out with each deposit can be large too. I think IULs have a place, but they should be closely looked at and take a savvy owner and advisor.

Brick 🧱 by brick 🧱 🏗

The music is annoying

I enjoyed the information, but please remove the music it's very distracting

I gotta get the book. He talks too fast for me.

@Lovely-ff7uv

3 жыл бұрын

MUST READ: "Becoming your own banker" by Nelson Nash. Buy on Ebay or Amazon.

Of your 14000 agents, how many are successful at PHP ?

@7FigureSquad

3 жыл бұрын

What a biased , loaded, uneducated question. Everyone knows that ANY sales organization that has 1099 independent contractors, non-employees will have a disparate number of those making money and not. If you’re a player, the better would be to ask “how many of those actually running a business are successful?” then the truth may shock you, especially during a pandemic. Since you’re asking the wrong questions, we’ll refrain from further wasting time engaging w/ trolls.

@rajbeekie7124

3 жыл бұрын

Probably less than 5% will make over $100,000 a year.

Just a rip off of LEAP and Robert Castiglione. Macro economic wealth building across all 27 different protection, savings, and growth components is the key. This guy is all about him! Building wealth without risk.

I didn't really enjoy this one because it wasn't really focusing on the "How" to Gain Leverage within the Life Insurance business....too many Stories---not enough "to the point" . I will be trying more from 7 Figure Squad.

God WHAT"S WITH THE ANNOYING MUSIC...SERIOUSLY !!!

@densflores3394

3 жыл бұрын

Then don't listen!!!

That is the incorrect use of "Creative Destruction." Creative Destruction is the act of innovating on a product/service while completely destroying the past way of doing things due to the increased efficiencies. For example, the innovation of the smartphone completely destroyed the smartphone users' need for a landline/burner phone. The creation of the smartphone destroys the cell phone market for companies like Nokia, Motorola, etc. Or how the creation of robots in the future will destroy the traditional manual labor market. You are a smart man but please don't take terms out of context and use them to describe your point incorrectly.

@7FigureSquad

3 жыл бұрын

Interesting opinion but must disagree. What u describe is what is exactly happening to the delivery of financial services to the multicultural middle class, yet missing increased efficiencies in the insurance industry.

@yogos727

3 жыл бұрын

@@7FigureSquad So you are saying that broader access to information/products/services, and therefore financial services, makes it so that the middle/lower class individuals have less access to those same resources? Creative Destruction is a philosophy/practice of destroying the old, less advanced ways of doing things and creating new, more advanced ways of doing things in their place. This brings equity to the masses if done properly. For example, you could say that the push for driver-less cars is taking peoples driving jobs, destroying their livelihood. On the other hand, we are no where even close to being in the driver-less reality and there have been tens-of-thousands of jobs created to try to make that goal of eventual driver-less travel possible. To operate/oversee/maintain the driver-less future when it is a reality will take millions of people. The people who created/thrived on the old will always tell you that creative destruction is bad because it destroys their creation. But, the funny thing is, they destroyed something else to create their ways. The original bankers destroyed original "under the mattress" way of securing money. The creation of the car destroyed the business of horse and buggy manufacturers. Would you say that these creative destructions bad or inequitable, I would bet no.

@yogos727

3 жыл бұрын

@@7FigureSquad I did a few of my MSEI papers on my interpretation of Schumpeter's ideology is a more accurate one than most. The most common misconception that people seem to have is that they do not include Creative Construction in their explanation/understanding. Creative Destruction is to Yin as Creative Construction is to Yang. I have been watching for a few months now and appreciate your spirit and energy as well as your drive to enlighten more minds. If you ever need a guest for anything on the show and/or want to talk about some entrepreneurship/innovation, I would be honored. I appreciate what you are doing to provide accessible knowledge on economic wealth. I also appreciate the things that you have done/do for this country, thank you for your service! I wish you all the best. -Brad

If Mitt Romney gave more donations, because he was richer than Obama... it makes sense. Of course if you have more money you can donate more...

Where are you located and phone number?

@7FigureSquad

3 жыл бұрын

Oakbrook (Chicago), IL send us your info here www.MoneySmartGuy.com

I thought the speaker talked a lot, but did not say much. The following would have been helpful: 1. How does this product work? 2. What are the internal costs for this product? 3. How do the benefits for this product overcome the costs for the product? 4. How can this product outperform the broader markets after net cost? The presentation seemed like a lot of platitudes. You may have an amazing product, but this presentation is not persuasive at all.

@applechili2848

2 жыл бұрын

It’s subjective. Each product is tailored to each individual. Internal costs are not readily available, most mutual companies aren’t publicly traded. The benefits are: You earn tax free dividends while living & a tax free death benefit goes to your beneficiaries. There are many, many more… Insurance is not an investment. IUL incorporates the tendencies; however, it’s not a competitor. Not everyone will understand this concept & a lot of insurance agents don’t know how to design an IBC policy. Do tons of research; however, if you find this isn’t for you, that’s fine. Don’t do it; keep doing whatever works for you.

@everetteborr

2 жыл бұрын

@@applechili2848 Yes, of course there are benefits, but again the issue how the benefits would outweigh the costs. Nothing is free so there is always a cost/benefit relationship which is never discussed with insurance. No one can ever argue about the benefits of hedging catastrophic risks with insurance. But once the discussion turns to avoiding taxes, then we need to weigh the dollar benefits of avoiding taxes with the dollar costs of the benefits, including commissions and reduced performance from internal costs. With the ultra-high wealthy, like Romney, with huge wealth from Bain in “retirement” accounts, insurance is likely an amazing strategy, but I doubt the strategy has much benefit, net of costs, for the typical millionaire next door, I.e., the mass affluent with today’s income tax and estate tax rates.

@applechili2848

2 жыл бұрын

@@everetteborr Taxes, benefits & internal costs of benefits for average Joe’s. All money going into the policy is previously taxed. Benefits: Up until this recent 7702 change, which allows insurance companies to guarantee less in dividends, I would say that the benefits are the 4% guaranteed compounding dividends on cash value. Now the game has changed. IMHO, lobbyist used the low interest rate environment to petition lowering the “high” guarantees from 4% down to 2% & as high as 3.75%. So, rather than compete, with the rules as written in the playbook, they paid the referee’s to change the rules to something more suitable to them. In addition, they raised the PUA fees in some cases, which goes to your internal costs. Now, I cannot get into each & every policy change for each & every company, but let’s say the average guaranteed cash value is now 3%. That’s the floor. Insurance companies can invest in safe investments, which they share with policy owners as mutual owners of the insurance company. This adds a percentage to our floor of 3% (4% is you own a legacy policy). So, the guarantee, plus the added percentage, minus agents commission, mortality cost, administrative & additional rider costs, equates to the initial negative upfront costs for starting a policy. These costs a plugged in to your average going forward, also the first year, there is little to no dividends added to your cash value, because the policy hasn’t properly seasoned. A properly structured legacy policy would break even on cash basis around the 3-5 year mark & then steadily rise based on the premium, PUA, dividends & percentages from positive operations, acquisitions & investments. This is based on the information that the mutual insurance companies, who are not public, shares. Do I mind that I cannot see each & every detail WRT internal costs? No. Do I worry if the insurance company misses badly or consecutively on guaranteed dividend payments? Yes. Absolutely! The other benefit is the ability to take a 4-5% loan against my cash value equity. Non direct recognition, simple, accrued daily & reflected annually. The loan feature is the second best feature IMHO. Now, for those that don’t like, understand or are deterred by this feature. Having an insurance policy asset allows arbitrage and leverage into rates & loans not available to the regular public. Some term this synthetic loan. The rates are 2-3% simple, revolving, no paperwork, no fees & no payment schedule. These types of loans go against the philosophy of the concept because they are outside of the policy; however, if implemented correctly, these types of loans with a strategy, can be very powerful. In closing, I will say that the tax advantages with insurance policies are very favorable. And, insurance isn’t the end all be all, it’s an and asset. And lastly a tax free way to supplement retirement & pass on wealth to your beneficiaries.

@everetteborr

2 жыл бұрын

@@applechili2848 So, you are assuming zero opportunity costs and are you not comfortable comparing with alternative investments? What are you comparing a 3.0% tax-free guaranteed return to, a tax-free municipal bond? And is the 3.0% guaranteed return changed when you borrow your own money at 2.0% to 3.0%? Somehow borrowing your own money at 2.0% to 3.0% is not too attractive. Look, I love to make money and have done quite well as a mass-affluent investor, but these products make little sense from an investing point of view.

@applechili2848

2 жыл бұрын

@@everetteborr No. I’m not assuming zero. I justify them by saying that they are the cost of doing business & because the costs will be more than made up in the near/long term. When you say compare to municipal bonds & borrowing your own money. This tells me the entire picture. You have to think as a layman. You have to discard everything that you’ve ever learned about finance. You borrow against your capital/equity. Think applying for a HELOC (without the paperwork & earning 4% dividend). Does a HELOC negatively affect your home equity? Do you borrow your home equity? When you take out a mortgage loan, do you borrow your money or does the bank lend you OPM? What’s the spread? What are the stipulations? Is your interest in most cases of lending simple or amortized? How many separate lenders & LOC’s do you have per month, including credit cards? Now, after you’ve answered all of those questions, think, a policy loan is all of those things wrapped in one & the loan interest is simple/annual. Of course you understand the benefit of simple interest & a revolving LOC. Now, what would you say your average rate of return is on investment? So, if I can borrow funds via positive arbitrage at 1-3% because I own an asset in life insurance, would that be good or bad? As an affluent investor this is where you can create additional leverage. Life insurance opens doors unknown to the average person; this is not typical commercial banking (IBLOC/CVLOC). There is flexible payment plan; however, interest is due monthly, no fees, no application cost, no minimum, credit limit 95% of gross cash, etc. With insurance policy loans, there are no contracts, no payment plan, no fees, no questions, LTV varies; however, my company offers 90% of cash value. For me it’s best to utilize the internal loan feature; however, YVMV, depending on your circumstances. Once you get past the mental block, then you’ll realize that you’re not borrowing your own money & this doesn’t compare to municipal bonds, CD’s, money market accounts, high yield savings accounts… Opportunity costs, while present, are ultimately irrelevant, especially over the long term. The concept is caught, not taught. Do you understand? Life insurance is an and asset, not an investment. A tool. A debt weapon. A storage tank. And. Asset. Not in spite, in lieu or as a replacement. Unfortunately, unless you can envision the opportunities then this isn’t going to make any sense or be of any value & most likely will not be for you. It’s simple, but there’s a lot to learn/experience. Most people don’t make it past the name life insurance.

i really am so very interested to learn from you guys BUT.. THE MUSIC MAKE ME SICK INTERRUPTING YOUR WORTH EXPLANATION FOR US... PLSSSSSSSSSSSS REMOVE THE MUSIC.. WE WANT YOUR VOICE INSTEAD....THANK YOU.

You don't protect against an inevitable crash, you strategize how to ride the ups and downs...THAT'S how the rich do it for generations and make money when the market goes up and down...you don't buy overpriced cash-value life insurance and call it an investment bwahahaha .... so sleazy. Seriously: Buy inexpensive term insurance, and invest the difference you save from avoiding cash-value (aka: whole/universal/IUL) insurance. The ONLY time any cash value makes any sense is to protect an overabundance of wealth that you want to outpace a savings account without risk ...and that's easily debatable compared to average returns over time.

@7FigureSquad

3 жыл бұрын

You sound like Dave Ramsey’s soldiers or someone that works for Primerica. All good for the 70s-80s of which Douglas Andrew was an agent then AND these concepts (not sure if you watched video) have proven them sound through all the downs. Here’s part two of this convo...as the Pandemic Recession was at it’s highest: kzread.info/dash/bejne/emSuo7l6mra6ZMo.html PS. I appreciate your passion but what you speak of how great buying a pager is....in a smartphone world.

@everetteborr

3 жыл бұрын

I very much agree. The presentation would have been much more persuasive if it just showed exactly how this product outperformed a “buy term/invest the rest” strategy.

WHAAAAAT????? audio is shit. Invest in microphones.

This dude seem like a con artist to me. I love when sales people tell you they are trying to help you but you need to pay $5000 I get suspicious, sounds like trump university to me.

@manuelllanos290

3 жыл бұрын

Not really, you can buy his book for free and only pay $5.95 for shipping. That is all I did. I went to college and pay more than $5,000 and never got this information. I wish I could spend the $5,000 to learn more from this guy. But the laser fund. It will change your way of thinking, with respect.

Great interview - but I’d recommend taking out the music. It’s hard to hear you guys speaking clearly

The music is annoying

@7FigureSquad

3 жыл бұрын

We’ll keep that in mind ... thx for your thoughts

@cjsmith3020

3 жыл бұрын

@@7FigureSquad hope I didn’t insult you, sorry bout that