Пікірлер

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  @TheFinancialAdvocacyPodcast14 сағат бұрын

  Okay, I've got to add this. Andy Panko, CFP, RICP, EA did a very nice post on LinkedIn about this podcast episode. Personally, I think he's a pompous ass... but when someone says something nice... I like them for the day. 🤣 The actual screenshot is in the "community" tab, but I'll re-type it here: "Anyone who sells Indexed Universal Life ("IUL") insurance policy absolutely must watch this! It's about an hour and a half, but well worth the time. Three folks who appear to really know and understand IULs talk in depth about the product, their concerns for how it's often inappropriately marketed, what to reasonably expect from it, tips for how to best manage it, etc. This is one of the most pragmatic and straight-shooting discussions about IULs that I've thus far come across. IUL content from Bobby Samuelson is top notch, too, for those who want to really learn about IULs and what to expect from it (not just get pitched on how much of a panacea it is) Kudos Curt Gibbs, Michael Moffat, and David H Kinder (Curt and Mike - please give David my feedback. He blocked me on LinkedIn a couple of years ago, so I can't directly tag him nor will he be able to see this post)"

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  @ejbarrazaКүн бұрын

  You did not touch on the fact that IUL should always be blended with minimal base and maximum annually renewable term life to keep the target premium (commission) as low as possible. For example, instead of $240,000 in an all base death benefit you should have $40,000 in base and $200,000 in annually renewable term. It massively increases the available cash value Day 1. Also, I believe in always using the high early cash value rider to increase the ratio of premiums to cash value from 50% to about 85% Day 1. If you wanted to borrow from the policy instead of taking out an indexed loan, I personally would pledge the policy as collateral for a secured bank line of credit from either Merchants and Manufacturers Bank or The Bancorp. The former has quarterly interest only payments and the latter allows you to recapitalize the interest into the loan principal. This means that the cash value never leaves the policy and as a result cannot lapse due to excessive borrowing assuming you service the bank loan. This renders the overloan protection rider redundant. All of the interest paid to the bank is tax-deductible as a business expense assuming the borrower is an LLC. Furthermore, I recommend diversification of index options using dollar cost averaging. I like Pacific Life's 1-year, 2-year, 3-year, and 5-year S&P 500 index options because it reduces the probability of receiving 0% interest. If you use increasing death benefit make sure to switch it over to a level death benefit the year you stop paying premiums into the policy. Then remember to call policy year 15 to lower the death benefit to the bare minimum so as to lower the net amount at risk and thus minimize the drag on cash value. By Age 75 assuming you have $950,000 in cash value, you would only need $1,000,000 in death benefit. In other words, the net amount at risk drops to as little as 5%. Some contracts like Pacific Life's IULs come with a no lapse guarantee to Age 90 at no additional cost. Others have an Age 121 no lapse guarantee at an additional cost. If you are looking for the most cost-efficient IULs, use a survivorship (joint) life insurance policy to cut the cost of insurance charges in half and it also enables one of the people on the policy to be uninsurable.

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  @00413smokeКүн бұрын

  Thank you so much 😊

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  @XiaoXiaoChuxubao2 күн бұрын

  Well, once u have enough money via ur investments, u don’t need insurance. Can u address this with numbers? How about throwing out some numbers? If the insurance component can be replaced with money from investments in the long run then why would one still need the insurance?? “Everything falls apart when u don’t pay for your term insurance” - well, if the policyholder could not even pay off the premiums for term insurance he would have an even bigger problem affording the premiums for whole life. It’s easy to make a bare assertion in the abstract without backing it up with numbers (and if u’ve done that u’ll know u don’t make any sense)

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  @TheFinancialAdvocacyPodcast2 күн бұрын

  Let me help you. No, if you have enough money via investments, you don't 'need' insurance. However, you will LOVE what the insurance and the tax code will allow you to do. Agreed that the premiums, whether term or whole life, still need to be paid. However, whole life has far more flexibility than most people (especially agents) are led to believe. I, and Dr. Sanjay, make plenty of sense. We've done our homework. If you're an agent (and I can assume your company name), one day you may grow out of first grade and grow your knowledge beyond the lazy mantras and "one-size-fits-all" planning strategies they have taught you. I've done the homework. But I don't do homework for other agents. Your problem will be that you don't know the tax code and you don't even have illustration software to figure anything out. Good luck to you.

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  @XiaoXiaoChuxubaoКүн бұрын

  @@TheFinancialAdvocacyPodcast haha speaking like a true insurance salesman. Good luck with sales

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  @DeepakMeena-ww1od8 күн бұрын

  ❤❤❤❤

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  @ScottUnderwood-q7q11 күн бұрын

  Thanks for the video. A million is not what it used to be. My wife and I will retire at 56 for her and 62 for me. We worked very hard for many years (military, GS, and teacher) and are fortunate to have multiple revenue streams, 3 pensions and 100% VA disability. With my social security at 62 we will earn between 13-14K per month. My wife will wait to 67 to draw her SS and we will not touch our 401k and TSP until we hit the age requirement. Government service doesn’t pay great in the early years, but makes for a great retirement.

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  @jimmyray235815 күн бұрын

  Idk about anyone else, but this is the first I am learning about this stuff and I've been in personal finance in some compacity since 2017-2018. Thank you guys for having these conversations and sharing it with us!

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  @clintedwards855826 күн бұрын

  Great lesson. I hope you took them to school in the feature also.

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  @PrincePierre1Ай бұрын

  Salute

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  @markbenner7233Ай бұрын

  Go Curt Gibbs

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  @DerekNelsonPLGАй бұрын

  Great video David. Sorry it took me so long to find

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  @doris.7352 ай бұрын

  This was packed with really valuable information about qualified plans versus life insurance as retirement products. I wish I had known about this when I first started working years ago. You guys know your stuff.

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  @TheFinancialAdvocacyPodcast2 ай бұрын

  Thank you for your kind words!

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  @TheFinancialAdvocacyPodcast2 ай бұрын

  Here's that article I referenced regarding credit card debt hindering 401(k) contributions: www.forbes.com/sites/jamiehopkins/2017/08/24/new-report-shows-credit-card-debt-is-hindering-401k-savings/?sh=2348a47c2755 and here: download-files.wixmp.com/ugd/f73857_b8f6565a49c14470b1343d5a69e9bd61.pdf?token=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.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.UuQWGVPu66FJp2eptce89rsRbe4T4gIcl1YNi636KGE

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  @-Frost--2 ай бұрын

  If anyone has a simplified issue term policy that would like a quote you can email me at [email protected].

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  @RJ-gi2hf2 ай бұрын

  Very interesting presentation. Are there retail VULs with a really low loan rate like in PPLI?

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  @TheFinancialAdvocacyPodcast2 ай бұрын

  I don't believe so, but I haven't done any research on VUL policies in a long time. The closest you may find would be the 0% wash loan idea, but typically the pledged amount backing the loan doesn't stay invested in the securities (VUL) or earn indexed interest (IUL).

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  @ejbarraza2 ай бұрын

  PennMutual's Diversified Advantage VUL has an indexed loan cap rate of 11.25% and a floor rate of 1% with a fixed cost of borrowing of 6% (net of the 1% floor it is a fixed rate of 5%).

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  @RJ-gi2hf2 ай бұрын

  But can you stay invested in the Penn Mutual fund subaccounts while still borrowing at 6%? Or do borrowed funds have to go into an indexed account w/ caps & floors?

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  @ejbarraza2 ай бұрын

  @@RJ-gi2hf No you cannot borrow at 6% while being allocated to the subaccounts. There is only 1 indexed loan account.

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  @ksetter44132 ай бұрын

  I’m just getting started & would love to see what your project pages in the back look like. Do you mostly make lists? Are you using the days that are printed in some way? I’m having a hard time envisioning how I could use this section - any tips appreciated!

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  @TheFinancialAdvocacyPodcast2 ай бұрын

  Yes, primarily lists. Some are organized by month such as annual expenses and relationship birthdays. Others are just other lists. These aren't used all the time. If anything, I'm following Brian Tracy's advice on setting goals. Just write them down and put them in a drawer and they'll still dominate your thoughts and steer you in the right direction. Thanks for asking!

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  @ksetter44132 ай бұрын

  @@TheFinancialAdvocacyPodcast thanks so much!

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  @johnnybeef12 ай бұрын

  Great content, guys! I do have some feedback on the delivery, though. Next time, be very conscious of the phrase "you know." It was said so many times that i struggled to get through this and this is a very important discussion that all agents who sell IUL need to be aware of.

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  @TheFinancialAdvocacyPodcast2 ай бұрын

  Thank you! Yes it was rather apparent as we re-watched so it'll be something we keep in mind.

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  @-Frost--2 ай бұрын

  I realized it after lol will do better with that going forward 😂🤦‍♂️

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  @princenasheen2912 ай бұрын

  Could you talk about the pros and cons of llc, S-corp and a C-corp

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  @TheFinancialAdvocacyPodcast2 ай бұрын

  That can be a future episode. Thanks for the idea!

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  @user-zw1oj8tt5p3 ай бұрын

  🙏🙏🙏💖💖💖

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  @glenngentry77303 ай бұрын

  So if I bought a whole life policy today with a death benefit of let’s say $150,000 and I died 29 years later, my beneficiary would receive a check of $150,000 plus the accumulated cash value of that policy?

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  @TheFinancialAdvocacyPodcast3 ай бұрын

  No. Watch it again.

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  @TheFinancialAdvocacyPodcast4 ай бұрын

  As of today, March 18th, 2024, 28 people signed up and kept their subscription using my 60-day free trial link! If you haven't tried it, sign up and give it a whirl. You'll probably want to keep it just like all these others have!

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  @kaelenewong74564 ай бұрын

  Are you still using this CRM 2years after your review? If so would you mind sharing any updates and why you still like it?

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  @TheFinancialAdvocacyPodcast4 ай бұрын

  Yes! I still use it. And because of so many people registering for their trial and then paying for it... I haven't had to pay for it for nearly 2 years now. That just shows how simple and easy to use it is. Thanks for asking!

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  @1961djharrison4 ай бұрын

  Very interesting, I like hearing about history.

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  @amandastothers51385 ай бұрын

  40 Views, 6 Likes, 1 MORE comment. JIm Ruta was SO kind back in Oct 2021 to chat by phone with me for 22 remarkable minutes. Appreciate Jim and his peers -- for so much skill and expertise.

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  @christinecortese99735 ай бұрын

  I’ve used Plannerpads all through my Library career (executive size) and now into retirement (personal size). I swear by this product!

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  @russellwilcox72365 ай бұрын

  Amazing words and wisdoms. Thanks Wayne!

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  @DerekNelsonPLG5 ай бұрын

  Great interview!

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  @ArmandoPazJr09145 ай бұрын

  David, my bud, I really appreciate you, your knowledge but above all, your giving heart. It speaks volumes as to who you are and what you are all about. May God continue to bless you, my friend!

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  @timrosen16185 ай бұрын

  Stop educating Primerica reps, you are going to crush their dreams. 🤣

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  @TheFinancialAdvocacyPodcast5 ай бұрын

  Frankly it's not about them. That myth is said so often that the clarity just needs to be put out there. Let Primerica do their thing, but they need better education about the truth of cash value life insurance.

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  @p.mattheis72535 ай бұрын

  I appreciate seeing a new PlannerPad video. Very clear and concise explanation of how you use it effectively. Love your plan for the project pages in the back. Enjoy your 2024.

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  @rael69746 ай бұрын

  Salute

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  @lifehawk35996 ай бұрын

  Hey David, glad to see you picked back up on the one card system. I use the electronic subscription with the planner. Very powerful... if used as intended.

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  @TheFinancialAdvocacyPodcast6 ай бұрын

  Watch the whole series.

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  @hisagisan7 ай бұрын

  Everything people do is preceded by “anticipation” of some sort of pleasure

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  @TheFinancialAdvocacyPodcast7 ай бұрын

  Personally, I disagree. I believe most people make decisions to help them avoid pain. That's close to what you're saying, but still very different.

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  @hisagisan7 ай бұрын

  The opposite of pain is pleasure. People are already in pain unless they’re unaware of it in the case of financial services. I think people take meeting based on pleasure (something sounds good) and once they’re aware of the gap between what they’re doing and what can be done, they then take action to avoid pain. In this business, most people are just unaware that’s why it has to be sold.

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  @TheFinancialAdvocacyPodcast7 ай бұрын

  I believe that the opposite of pain is relief, not pleasure. Read The Challenger Sale. Also, the way that Sid Walker positions the basis for meeting is to relieve pressure of 'being sold'. Relieve pain and watch them relax and know that everything will be okay.

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  @hisagisan7 ай бұрын

  I appreciate your perspective

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  @DarrellDQue7 ай бұрын

  Thanks for the advice on this David!

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  @franklehane88438 ай бұрын

  link?

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  @TheFinancialAdvocacyPodcast8 ай бұрын

  I took it down to rebrand. I was advised that my prior branding slogan could be misleading (unintentionally).

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  @franklehane88438 ай бұрын

  This is your best yet, most heart-centered and transparent work I've seen you put forth to-date, David. I really enjoyed your energy.

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  @TheFinancialAdvocacyPodcast8 ай бұрын

  Thanks Frank! That means a lot to me!

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  @RealEstateWealthAcademy-ug5vb8 ай бұрын

  Preach it out, the passion motivates. The enthusiasm persuades. These are the things that can rub off on others. Great stuff!

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  @Realadi698 ай бұрын

  Thanks to my one bro for sending me this 😄

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  @user-zu8ot8ry1e8 ай бұрын

  Looking forward to this!

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  @Viola4successfulmlm9 ай бұрын

  Thank you, David, for sharing this! I have recently shared this training by Jerry Clark with some Network Marketer friends who have not heard about this INCREDIBLE training.

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  @joebillmoad34369 ай бұрын

  David I appreciate your Advice! I used to Be in the mortgage biddness years ago and had the gold one! I loved it! Someone borrowed it, never brought it back. Now, I have started using the 12 C that arrived today. I am in Oilfield and wanted another so I have another. We do algebra equations daily in drilling rig and I thought this will work. Thanks again!

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  @TheFinancialAdvocacyPodcast9 ай бұрын

  There are a lot of functions that are on the 11c or 15c that aren't on the 12c. For example, there's no pi input on the 12c. If you need to do algebraic equations, you might want to look for an 11c or 15c for the similar format.

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  @joebillmoad34369 ай бұрын

  I own a new 15C

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  @joebillmoad34369 ай бұрын

  Correction! Was wrong! I just bought the 12CP and I can do squared formulas real easy. I used to own the older gold one when I was a mortgage broker. I am a drilling consultant now and drilling deep high pressure gas and oil wells now. This 12CP is so much better than what I was using(cheap one). Does anyone know if I can store 100 or so of the formulas I mainly use for WellControl and recall them as I need them? I would have to be able to list them of course to be able to pull the right one up in a split second.

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  @TheFinancialAdvocacyPodcast9 ай бұрын

  @@joebillmoad3436 I know that it is programmable, but I've never used that functionality. Here's a link for programming hints. You may find it useful: literature.hpcalc.org/community/hp12c-proghints.pdf

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  @rajeevguptacfpretirementst55489 ай бұрын

  Fantastic speech by Bhupinder thanks David

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  @E_THE_G9 ай бұрын

  You could put your money in a cash value life insurance policy that is correctly designed to maximize cash value and can pay you for the rest of your life, INCOME TAX FREE, as well as provide protection from creditors and predators, can be contested, and will never lose money in a downturn, but it also puts you in an advantage every time there is a downturn as well as gives you access to funds in the case of any critical, chronic or terminal illness. And in the end when you finally pass away, all the money that's left plus the initial face amount will be given to your beneficiary 100% INCOME TAX FREE

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  @TheFinancialAdvocacyPodcast9 ай бұрын

  And now THIS was 30 f****** years ago!

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  @AnomalyBelleza10 ай бұрын

  Well done! Put the confusion to rest!

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  @meetviktor628210 ай бұрын

  Just amazing how Ben pushed without pushing!

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  @victoriabray67310 ай бұрын

  OMG!!! Thank so very much for the information on this calculator that I just purchased for my Family Finance class. I'm in college at 55 almost 56 years old to become a Family Consumer Science Teacher. The laws have changed that all high school students must take a financial class. I'm not a well versed person when it comes to math. I purchased this calculator to hopefully help me now and as a future educator.

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  @jasonkemper595010 ай бұрын

  Shout out your faith!!

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  @ytujackclough11 ай бұрын

  No one has endurance like the one who sells insurance!

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  @NickTheGREEK121611 ай бұрын

  I was asked to give a speech in gront of 15,000 plus people. I told them I've never sold anything. Nothing. I help people buy. And those products had nothing to do with insurance. 🤔👍