How Can I Become My Own Banker?

Рет қаралды 105,106

4 жыл бұрын

You've probably heard of people taking matters into their own hands and becoming their own banker. In today's episode, I'm going to explain to you how the whole situation works so you too can become your own banker. Can you imagine borrowing your own money to make more money? I'll tell you all about it, stay tuned!
To your abundance!
Doug Andrew
Key Moments In This Episode
========================
00:29 Who I am and why this is one of my favorite topics
01:03 Arbitrage
02:49 Infinite Banking Concept
03:57 What happens when you put money into an insurance contract?
05:48 Banks borrow our money and make more with it
09:01 Why would you borrow your own money?
11:19 What about whole life insurance?
Did you love this video?
Want to learn more wealth and life empowerment lessons from Doug?
Here are some next steps!
========================
How to Diversify and Create the Foundation for a Tax-Free Retirement
laserfund.com/
How to Lead Your Family/Business from “ME” to “WE”
entitlementabolitionbook.com/
Visit Doug Andrew’s website:
dougandrew.com/
Music
========================
Song: LiQWYD - Glow (Vlog No Copyright Music)
Music provided by Vlog No Copyright Music
Video Link: • LiQWYD - Glow (Vlog No...
========================
Video by Nate Woodbury
BeTheHeroStudios.com
/ natewoodbury
#DougAndrew
#3DimensionalWealth
#AbundantLiving

Пікірлер: 119

@jackyanderson9330 Жыл бұрын

He enlightened us more on the concept of insurance which many people didn't know. Doug Andrew is a genius. I love that.

@missedfortune Ай бұрын

Thank you!

@yolandawrightklosterman5707 Жыл бұрын

This is amazing. And I am about to start my own bank for myself.

@tyrecarmon20 2 жыл бұрын

My CPA sent me your videos a few months ago and I have been binging your content. I also brought your book. I have my IUL set up this year and I am definitely taking advice from your videos and book to use. Thank you!

@Lrndthehardway Жыл бұрын

Hows things going today?

@mr.elegance6889 2 ай бұрын

Update?

@porousdumasia3256 3 жыл бұрын

Thank You very much I shall be in touch. This product is not avbl in Nz .

@aceconsulting.analytics Жыл бұрын

Thanks for the update. I will definitely give it a trial. Peterson from Nigeria

@MbursaDN Жыл бұрын

What happens when the policy holder doesn’t repay the loan?

@kpizzyrizla3066 Жыл бұрын

@11:20 mins is the gem

@SEBAYANI08 Жыл бұрын

Doug, thank you so much for this content so inspiring! If i may, does this concept work in any other country like Argentina for example, to your knowledge?

@sent357 Жыл бұрын

Thank you Andrew your knowledge has changed my life.

@missedfortune Ай бұрын

You're welcome!

@olgaesso3220 3 жыл бұрын

Thanks !!!

@missedfortune 3 жыл бұрын

You're welcome!

@arturasstatkus8613 11 ай бұрын

Thank You,Sir.

@missedfortune Ай бұрын

You're welcome!

@robertdoss871 Жыл бұрын

Oh thanks for the informationi It was helpful I was going to go to sign up with the iul, a couple months, until I realized I would need between five and$ 800 a month to maintain, it so my insurance agent is hooking me up with a debt-free life insurance plan instead. It a close comparison , in which I get to borrow against my own Policy just at a lower rate if return do you recommend it until I can afford the iul

@horukulislam6155 Жыл бұрын

Hi Doug. Can you say what is the similar system in the UK please?

@teddimedicine 11 ай бұрын

Wow... ..just wow 💯 ....superbly formidable content

@missedfortune Ай бұрын

Thank you!

@ThePaciFest Жыл бұрын

Amazing! Can we do this in Australia?

@irenetubman9449 2 жыл бұрын

Hi you say the money in this type of account the money is transfered over to family. The only thing that transfers is the death benefit. Correct me if I'm wrong

@myeagle_eyes Жыл бұрын

Is this applicable in the UK?

@TheDavidt23 Жыл бұрын

Is this possible to do in the UK?

@ramoncortes7685 8 ай бұрын

That's right you right it's true

@enmarcanete468 Жыл бұрын

Praise God For This Great Information Shared By Doug Andrew ...Thank you very much Sir Doug ..God bless you always...

@missedfortune Жыл бұрын

Glad it was helpful!

@Saad_TheGod 8 ай бұрын

Thanks

@missedfortune Ай бұрын

You're welcome!

@peterchirico2153 Жыл бұрын

Andrew How long do you have to have a Laser IUL open before one is able to do this ? Do you need to wait until it is fully funded in 5 years or 4 years and one day ? Thanks for sharing all your knowledge.

@armandoarroyo6331 Жыл бұрын

it all depends on how much are you funding your policy with,

@cynnlinden9073 3 жыл бұрын

I'm so tired of being broke... Thanks for this video! Now if I could only understand 1/2 of it lol

@constancenunn Жыл бұрын

Me too so tired

@jmm1817 Жыл бұрын

This guy reeks used car salesman

@jmm1817 Жыл бұрын

He doesn't want you to understand he just wants your money

@brandywell44 Жыл бұрын

Investing in an index, you have to get that decision right.

@joansullivan4766 2 жыл бұрын

How do you do this if you have health issues

@tonyw2167 3 ай бұрын

The statement that index UL usually earns 10% is questionable, and it does not take into consideration the cost of insurance increase when the policies get older. I’ll stick with my whole life polices for now😊

@siulanainad 3 жыл бұрын

Read The Pirates of Manhattan

@jeremycrochtiere6317 10 ай бұрын

Thanks for the suggestion

@Droedin Жыл бұрын

If only this was possible in Israel as well... Unfortunately for me, this method doesn't work here since the only insurance policies you can get are the ones like the one I have for Whole Life Policy (Index Universal Policies don't exist here) for 2 Million Israeli Shekels (Which is a bit over half a mil in USD as of the time of writing this comment) and I can't even pay for a bigger one if I wanted to... The only way of doing this in Israel would be if you're self-employed and then you can do the same thing with your Pension but still, much much lower rates and the rates at the banks here for a loan are around %5 (recent change since the end of 2019 for an excuse we all know). Thank you for the information regardless, knowledge is power and I'm sure I'll find a way to put this knowledge to good use in a different way, the concept stays the same even if I change a little in your plan to adjust to the terms of living in Israel. I wonder if this video is still valid after 3 years and if anything has changed since then to adjust it if it's still valid and changes were made in terms of laws or rates adjustments after the whole plandemic...

@briancarter2505 Жыл бұрын

Does this work in an Australian context?

@finanzastv888 3 жыл бұрын

I loved your video Doug. But at minute 9:49, right after explaining the 2% wash out loan, you mention that you want to leave the money there an link it to an index. What exactly is that way of taking a loan called?

@missedfortune 3 жыл бұрын

That is called either an index loan, variable loan, or an alternate loan.

@finanzastv888 3 жыл бұрын

@@missedfortune I truly appreciate you taking the time to answer my question. Your videos add so much value. Thank you!

@Allenballen88 3 жыл бұрын

@@missedfortune thank you for this video! I've been on the fence for awhile about which kind of policy to go with to start my infinite bank. I was wondering with an iul, if you take an index loan against your policy do you still pay index management fees like investing with mutual funds or ETFs, or is that included in the 2% loan interest?

@poorinvestor Жыл бұрын

Listening with my eyes closed and all I hear is Jim Rohn

@ALL_ABOUT_YOU9 Жыл бұрын

Hello Doug, what type of insurance do you mean? In my country, the Netherlands they only have life / death insurances without the option to withdraw money.

@07855964 Жыл бұрын

That's what I want to find out as well, his not making sense to me my brain is fried

@dus10dnd Жыл бұрын

Sure... infinite banking... if that worked, everyone would be doing it. Why would anyone use their earned income ever, then? Just put it all in, and then borrow against it. Heck, Elon Musk would be borrowing against his stock to invest in this. He isn't.

@josephking6944 Жыл бұрын

Right. I feel there’s key components missing from the whole concept

@mercedesbouchard9762 2 жыл бұрын

How much money do you need to start and where do you need to start

@missedfortune 2 жыл бұрын

Great question Mercedes. You may want to schedule some time with an IUL specialist who can answer more of your questions and even run some examples for you: 3dimensionalwealth.com/getstarted/

@scambuster7416 Жыл бұрын

i'm uninsurable, can i still do infinite banking?

@dirtcheapappliancerepair3724 Жыл бұрын

Hi, what’s the name of these type of insurance policies and the name is the insurance company

@Betterdailyy Жыл бұрын

Are you only able to borrow if it’s for your business?

@douglasrush5197 Жыл бұрын

Yeah, but how do I start up my own insurance company?

@ciroweinstein8627 Жыл бұрын

You will need An Actuary... Deep pockets or be willing to share the company. In 6 months will become an Actuary Btw...

@financetips 11 ай бұрын

Neva heard of this guy. When did he publish his first book? When did he start

@missedfortune Ай бұрын

I invite you to visit www.dougandrew.com to learn more.

@stephengilstrap 3 жыл бұрын

Can you show us some 15 year old IUL policies? The problem with IUL is that the insurance costs go way up in the future and make the policy implode. If you read Nelson Nash's Becoming your own banker, then you would know not to use IUL for infinite banking.

@missedfortune 3 жыл бұрын

That is incorrect when it is structured correctly like I teach. kzfaq.info/get/bejne/ps2SY6yJp8XJdKM.html

@missedfortune 3 жыл бұрын

Here is a link to the Laser Fund learning group. Here you can find a community of other learners/users, sample statements, etc: facebook.com/groups/laserfundmasterclass

@brvjrt4861 Жыл бұрын

is there something similar in europe?

@gedbookings2328 3 ай бұрын

How exactly would you still earn either $100k or $50k if the $1000,000 is being used? Wouldn’t any deductions affect the interest totals?

@delilashapaka8104 Жыл бұрын

Our money gets depleted when we stop withdrawing and depositing.🇳🇦

@user-hp8ny3rw4p Жыл бұрын

Can this be applied in new zealand?

@crazybigyo 2 жыл бұрын

Can you help me review my policy, Doug?

@missedfortune Ай бұрын

I invite you to schedule an appointment with one of the IUL Specialists I work with who can review your policy. Schedule by visiting www.3dimensionalwealth.com/getstarted.

@it426 11 ай бұрын

I get the impression this is for individuals with a large amount of capital to play around with? Is there anything for the little guy... say with $10K initial investment? Thank you for the videos!

@missedfortune 11 ай бұрын

Hey! If you would like to explore the LASER Fund options, go ahead and schedule a time to speak to an IUL Specialist that we work with here: www.3dimensionalwealth.com/getstarted

@wed265 3 жыл бұрын

Hi Doug Thanks for the videos. May I please call you on the phone to ask you a few questions. What companies would you use where you could get a 25% return in one year. Also what company did you use that averaged 10% over a long period of time? I could turn a lot of people on to you.. again can we please talk on the phone and not have to email back and forth. Ray

@missedfortune 3 жыл бұрын

Email me your phone number and I will do my best to call you as soon as I can, crd@3dimensionalwealth.com

@porousdumasia3256 3 жыл бұрын

Can u do this if u r non US citizen

@missedfortune 3 жыл бұрын

Yes, there is a program for non-US citizens. However, not all can qualify for it. Talking to a specialist will be your best bet in finding out if you qualify. If you can't find someone, I can refer you to one here: 3dimensionalwealth.com/getstarted/

@paulinavazquez6549 2 жыл бұрын

If you have an ITIN yes

@USMC-0311 11 ай бұрын

Hello Doug. Went to your website, your book is no longer at $5.95. Now it’s $9.99 or $19.99 for additional. Any ops?

@missedfortune 11 ай бұрын

$5.95 was a pre-2020 pricing. Everything has increased, additionally we ship everything priority mail which costs $7-8 alone. Unfortunately, we had to adjust our pricing away from the $5.95

@nps8796 4 жыл бұрын

I like the video and information, but one thing I'm having an issue with is when the time comes to pay the million back to yourself. What am I missing? Thanks

@isajthereable 4 жыл бұрын

Correction: don’t listen to this guy, he’s dangerous. IUL is completely inappropriate for IBC.

@missedfortune 4 жыл бұрын

I have several videos that explain so you can see in detail the difference between a whole life policy and a IUL. A whole life policy does not have access to the indexing strategies and therefore is limited on its interest growth potential. It also has less attractive features when accessing your money. It is a good product, but I would rather have a properly structured IUL. When structured correctly it will be cheaper, have much greater growth, and much better features when accessing your money! I also have many videos explaining the loans in the detail you are looking for. Almost all whole life policies will charge you more interest than they credit you when you access the money. Whereas a IUL allows you an to earn more interest than the loan interest thus creating a positive arbitrage in most years! I always warn people if they are looking at a whole life policy, make sure that your agent illustrates you taking money out of the policy. Most avoid doing this as it doesn't show well because the details are now revealed. kzfaq.info/get/bejne/hKibmtensLOsp3k.html kzfaq.info/get/bejne/mrB7e81k3syudJc.html

@isajthereable 4 жыл бұрын

@@missedfortune You open the video by telling people that they can become their own banker, and that is true. Now you are attempting to explain things in the language of an investment. That is not banking. There are many others that attempt to distort IBC with an IUL contract because of the same things that you are talking about. How are these going to look when the person buying the policy is in their 70's and 80's? The truth is that you don't know. Yes you can do a great looking illustration, but do you have history to back it up? I think that these IUL policies are a creation of EF Hutton in the 1980's. I'm only leaving a comment because IBC is a powerful tool that has helped change my family's trajectory upward in a major way. I understand that you are trying to make a living, and I don't want to impede that. However when you discuss the concepts of IBC then switch to an investment, you will deprive some people of what IBC offers. For an honest education about IBC you can read Nelson Nash's book, it might take a day. Also you can visit the Nelson Nash Institute website for more resources.

@realkoolvg 2 жыл бұрын

@@missedfortune hey doug, how do you take advantage of the multiplier far as the index strategy, mentioned in 11:53 thanks, do you only get the multiplier with an specific company???

@simplemind7 10 ай бұрын

Interesting, but don't you need an insurance policy at least for 5 years? And they'll take into consideration your age and the state of your health.

@abiottditshego1569 11 ай бұрын

I❤this guy but is it possible in South Africa 🇿🇦? Just imagine how many people will become instant millionaires?

@EdwardVarner 3 жыл бұрын

So they charge me interest on my money when I take it out to use it... that is the part that doesn't make sense to me.

@mikecarter6667 2 жыл бұрын

While paying you interest.

@xejelah Жыл бұрын

you earn more interest than you get charged

@manishapatel3937 Жыл бұрын

Mr Andrew can I work with you ?

@n_tsilivigos Жыл бұрын

Does this exist in Greece?

@benhowells2258 4 ай бұрын

Ahhh shame you don’t ship to the UK

@missedfortune 3 ай бұрын

You can order the audiobook here: learn.3dimensionalwealth.com/offers/NPD5BMRf

@CLOUD.STEPPING Жыл бұрын

what happens to the 1M loan that you took out? do you need to pay that back

@xejelah Жыл бұрын

yes, but you can let the interest pay it back

@blacksmith9451 11 ай бұрын

Yes

@vt6spd 2 жыл бұрын

If I have 20K, how can I start this process to build a real estate portfolio?

@haveaniceday7950 2 жыл бұрын

I'm wondering this as well. Did you find the answer?

@470interista Жыл бұрын

is this a U.S. thing only?

@marlonlew5084 Жыл бұрын

Yes

@jasonpham80 3 жыл бұрын

Problem is you don't guarantee 10% earn that year you borrow so a little misleading information.

@paulinavazquez6549 2 жыл бұрын

Sure, the rate of return you get is average 10% on his example. You don't loose money, however, and that's a guarantee. The rate of returns you get in an IUL are still a lot higher than if you were to go to the bank. It's typically less than 1% so cents.

@realkoolvg 2 жыл бұрын

@@paulinavazquez6549 facts

@johfu4705 Жыл бұрын

How to become a millionaire. Write a book about how to become a millionaire!

@wildfootfarms7185 Жыл бұрын

It don’t make sense. Why not re invest the million you borrowed back into the insurance and then borrow again and repeat 1000 times. That way you make 5 billion a year. Don’t make sense.

@ianrogers7543 Жыл бұрын

Definitely something missing in the explanation - if an institution is offering a higher rate on saving than the money it lends out then, as you say, you'd just put the money you borrow back into the savings product and use that again as collateral another loan. Repeat infinitely, generate infinite money! :-) Something very wrong about what this guy is claiming...

@qasmb1546 Жыл бұрын

"How much more is 50,000 than 10,000 - Its 500% MORE." *No its 400% more.* You are talking about all this stuff yet don't seem to know basic Maths.

@thefertilemind Жыл бұрын

It's 500 lol. 1 x 5 = 5.

@qasmb1546 Жыл бұрын

@@thefertilemind Erm yeah 1 x 5 that's a 400% increase not 500%.

@MultiChrisjb Жыл бұрын

your arguing semantics

@tonyotodede2303 Жыл бұрын

That can't happening d 3rd world

@tonyotodede2303 Жыл бұрын

It is only possible in d US n Europe not in Africa guy!!!!!

@Hs5687 Жыл бұрын

Don’t even bother if You are Politically Singled Out & Targeted…

@warcewic Жыл бұрын

This is the BIGGEST SCAMMER

@RomanMoskva 4 жыл бұрын

Ahahaha I wonder how much his million cash value inside IUL is worth after COVID-19 pandemic 2020. I bet the ROI is still 25% but NEGATIVE. Good luck man, your idea is too risky.

@fs6668 3 жыл бұрын

Luckily in the LASER fund it’s not in the market itself. Check this video on how it works: kzfaq.info/get/bejne/g7F5Zbt81622c4U.html Basically it has a floor thank goodness so a -25% in the LASER fund is 0% minus the cost of insurance. Much better than 25% in a volatile market.

@snellerfinancialservicesll5303 3 жыл бұрын

@@fs6668 lol these people are such idiots

@dragon1indo162 11 ай бұрын

Unfortunately this doesn't apply to people who are homeless and dirt poor and has no money to invest in anything not even food to eat so these videos are still for people who are already pretty much set up in life able to go on this type of venture