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Пікірлер
@RJ-gi2hf Күн бұрын
I will need to make this same pension decision in a few years. This video gives me a lot to think about.
@BankingTruths Күн бұрын
It's better the earlier you start it needless to say. Happy to do a free analysis for you now to prove it, so you can make informed decision at the most optimal time
@larrycox6614 16 күн бұрын
Buffet is stuffing cash to put him in a position in the future to take advantage of buying after a crash...prophetic as usual if we just watch and take note.
@IlluminatingWealth 19 күн бұрын
This was an amazing explanation. Thank you so much. You break it down so the non experienced agent understands the whys. Great graphs and comparisons.
@GaryGNopp 19 күн бұрын
Love the Peso…congratulations Harry and crew
@HaiHuynh-hs5sn 29 күн бұрын
Can you do a video on how the fees work on this policy? Thanks!
@MomentoMori769 2 ай бұрын
I heard this from another agent, but does HCV LI increase in value monthly? If so, how so? I thought the dividend hits at the end of the anniversary date. Also, the premium finance could work when done with anticipated windfalls.
@BankingTruths 2 ай бұрын
The guaranteed growth a cruise daily but the dividend is added at the anninversay
@jcrockett870 2 ай бұрын
No 10, you need a special policy designed for ibc. Not true, i have a "off the shelf " WL100 from massmutual and i can do all this stuff...
@BankingTruths 2 ай бұрын
You sure can, just takes longer to ramp up
@brianennis5553 2 ай бұрын
Is this a pyramid plan?
@BankingTruths 2 ай бұрын
Lol... No. That would mean you would have to start selling life insurance
@oldporkchops 3 ай бұрын
Hi there, Are first year premium dump-ins the same as a front loaded policy? Thanks.
@BankingTruths 3 ай бұрын
Yes a first year dump in is always a front loaded policy. However what we call a 4+3 (seen in the video) is also front loaded policy since the first 4 years are greater than the following premiums. We've found a sweetspot in paying heavily in the first 4 years and that paying heavily for less years generally requires too big of a policy that is not being funded efficiently in the later years to make up for such heavy front-loading. Make sense?
@oldporkchops 3 ай бұрын
@@BankingTruths This makes perfect sense. I might be wrong, but is it because a larger proportion of the policy needs to be devoted to buying the term rider to sustain the front load design to avoid MECing the policy? Proponents of front loads claim that it's primary benefit is the availability of high early cash value, and specifically state that LaFayette Life is the one company that has up to 93% of cash value in the first year. Admittedly, the same proponents do admit that this high early cash value of LaFayette Life front load policies does come at the expense of long term cash value growth. I suppose high early CV is great for those who want to use it for IBC purposes? In an ideal world, an ideal policy (front load or otherwise) would offer high early cash value, gradual and increasing CV growth, low loan rates, high dividend rates with a 150+ year of paying dividends. Not to mention proper underwriting (not ultra strict like LaFayette Life) too. Do any of the companies you write with come close to these criteria? Thank you for taking time to address my questions.
@BankingTruths 3 ай бұрын
Yes you're absolutely right on all fronts. Penn, Guardian, and Mass all start with sufficient high early cash value and produce more sustainable ongoing performance. Needless to say each should be tested and measured
@oldporkchops 3 ай бұрын
@@BankingTruths Got it. Interestingly, LaFayette Life did not make your cut. May I ask why?
@salmanjt 3 ай бұрын
Good timing
@coreyjones3898 3 ай бұрын
I follow Marvin Mitchell and yes his investment was risky, but the remainder of the story shows how he mitigated risk.
@BankingTruths 3 ай бұрын
Sincerely glad it worked out for him. Any time one takes a directional option play there's a risk of losing your capital.
@twisterthemonk 3 ай бұрын
Tbis literally doesnt explain anything unless u speak finance speak
@BankingTruths 3 ай бұрын
Imagine trying to understand everything in the context of one single short... Lol...The purpose of our short form content is to invite people to come learn more with us. But you're no longer invited. Please unsubscribe immediately
@TadpoleTommy 3 ай бұрын
Boom! Roasted.
@Malybeartrades 3 ай бұрын
This doesn’t explain anything unless u speak finance speak
@rickpickle 3 ай бұрын
cool
@HazeltineLLC 3 ай бұрын
Any valuable asset is going to be "expensive". Price means nothing in the absence of value - people who say something is "expensive", or worse yet, a "rip-off", are simply saying they won't take the time to actually evaluate the asset in question. It turns out that some of the most expensive and poor quality products are offered at low prices or for "free". Ever heard of a "free" bank account? How about all those "free" government services? As you point out, rich people don't think this way. They have the ability to measure value accurately, which means they're not afraid to spend large amounts of money where it results in large amounts of value.
@ryanjohnsonku 3 ай бұрын
No they don't
@BankingTruths 3 ай бұрын
Actually I have evidence they do... Bankingtruths.com/walt
@markf.2050 3 ай бұрын
Infinite banking is just a ploy to get you to buy whole life insurance and generate thousands in commissions and fees. The concept is very simple in that YOU create and fund an account that you can borrow money from and pretend that it is your "bank." There is an alternative secret strategy that allows you to truly take control of every aspect of the banking process. You can control how the capital is invested, how much to take as a "loan" (even up to 100%), how to repay the loans (even never), and how much interest to pay on loans (even 0%). The secret that your parents (much less whole life insurance salesmen) never told you is that instead of paying dearly to the insurance company to create the capital you use (a cash value) you can fund your own savings or investment account and use that as your capital. Here is how and why I can practice infinite banking with my own savings account at a high yield online bank: My bank (Ally) did not need a salesman to sell me my account. My bank, where I "store" my cash, does not charge any commissions. I "broke even" on day one, not year 7. My bank does not convert my cash into a "cash value." My bank account has no MEC limits. My money in the bank is safe and FDIC insured. My bank has no fees to sap the effective interest rate - currently 4.35%. At my bank, if I want some of my money I just request it and they give it to me. If they send me money from my account, there is no need to pay it back to my account, but I can if I want to - at 0% interest. At my bank, if I pay myself back at the same rate I would pay back a policy loan, I come out ahead in cash compared to a cash value with "uninterrupted compounding growth." That's because the interest portion goes into my account instead of to the insurance company, and due to compounding growth, which is not a unique feature of cash values. If I don't pay back a loan to myself, there are no compounding interest charges against my account. At my bank, if I want to close my account, they give me 100% of my funds with no surrender fee. (About 80% of whole life policy holders end up surrendering their policies early.) At my bank, I earn taxable interest. That is because my account experiences real growth of money I can readily spend, and I am able to pull out more than I put in. (The same could apply to cash value "infinite banks," but you're unlikely to ever pull out more than you put in.) At my bank, if I want an actual bank loan, I don't have to self fund it first or wait years to build up a sufficient cash value. At my bank, loans are tax-free. (ALL loans everywhere are tax free!) At my bank, if I take out a loan, the maximum amount is not tied to some percentage of my savings account. At my bank, if I get a loan, my savings account continues to earn interest unaffected by the loan. (WOW! Just like with a policy loan.) At my bank, if I die, the bank does not keep the funds in my account. My designated primary or secondary beneficiaries get ALL of it. My bank does not provide a death benefit. (OMG!) At my stage in life, I don't want or need one any longer, and they don't make me pay for it either. When I did need life insurance, I had a term policy.
@JohnSmith-qq9jp 3 ай бұрын
The time it would take the average person build up the cash value to the point where they could buy a house with it makes this idea completely unrealistic.
@BankingTruths 3 ай бұрын
You can use your equity at any time for any reason, and the lifetime compounding will give you more equity than banks sooner than you think. Most people are short-sided which keeps them reacting to short term rates and taxes
@builderpj 4 ай бұрын
Invest in yourself. Cliche garbage anybody can say
@BankingTruths 4 ай бұрын
Snark reply-guy comment from a non-producing net consumer. Wtf are you putting out into the world guy?
@builderpj 4 ай бұрын
@@BankingTruths my comment still stands the most cliche thing ever said. I'm a poor Carpenter. Bought all kinds of courses quote invested in myself. I've made nothing
@BankingTruths 4 ай бұрын
Ahhh, must be the courses then.
@builderpj 4 ай бұрын
@@BankingTruths I'm sure I just need to invest in myself more. 😂
@BankingTruths 4 ай бұрын
You've already proven your a bad investment @@builderpj. Just keep going on your hamsterwheel and throw reply-guy shade to make yourself feel better about it. Best of luck
@josephbarker91 4 ай бұрын
You would be better off putting it in a savings account.
@BankingTruths 4 ай бұрын
The seems to be the common opinion, but here are the facts... Bankingtruths.com/Savings
@JuanPerez-ry3vs 4 ай бұрын
Pride is a Muthafucka! You fight through that shit.
@JasonMatthewsmfis 4 ай бұрын
A couple of years ago one of insurance companies you said was one the best was Pacific Life for IUL. What has changed since then?
@artventurespro 4 ай бұрын
Can IUL be designed where its front loading (90/10, 80202 or 75/25) where you can opt to put. Lee on the cash value over the death benefit like you can in whole Life? I have IUL where I put in $500/months but have never get access to cash value until the 3rd year compared to my Whole Life (75/25) that I pay $450/mo and are end of my first year I got $1,200 cash value .also with IUL the premium goes up after the term experience and you renew it when your older .with Whole Life your premium stays the same
@BankingTruths 4 ай бұрын
Yes. Book a meeting @ bankingtruths.com/schedule
@HazeltineLLC 4 ай бұрын
Hutch - I'd be really interested to see you have a conversation with Chris Kirkpatrick on this subject, and I know he'd be up for it. Would you allow me to facilitate a discussion?
@BankingTruths 4 ай бұрын
Only if you can find me someone to argue politics right after. Similar to Dave Ramsey, Chris has taken such a hard line stance that it would be impossible to have an intelligent open minded conversation on the matter. Chris isn't really saying anything we haven't heard for years. And what he's saying will come true for a lot of consumers getting sold crap designs from crap companies. However, it's hard to factually deny the unique benefits available with IUL as a complement to Whole Life in a comprehensive banking strategy. It's not really a good use of my time to be arguing opinions with someone who's clearly not willing or able to be open minded. We can discuss intelligently on your show if you'd like.
@HazeltineLLC 4 ай бұрын
@@BankingTruths Sure! You've got my info, let's get it scheduled!
@Eskeeter03 4 ай бұрын
Too risky. I'd never put anyone into a universal life product using the IBC. It places too much risk away from the company and on the clients. Any client financially responsible enough to monitor and manage an IUL could find better performance managing an investment portfolio.
@BankingTruths 4 ай бұрын
Yes, I've heard the "risk shifting" opinion parroted around the industry for years. It's overstated unless the IUL is heavily underfunded AND the chosen product/company is garbage. We educate our clients on the risk/reward potential and many find it attractive for a portion of their insurance portfolio, especially since they pick up the additional benefits that are unique to IUL. I suppose it's possible you didn't get to that part of rhe video before interjecting that recycled opinion.
@Eskeeter03 4 ай бұрын
@BankingTruths the risk is transferred to the client because the guarantees that protect the insured are stripped away. The IBC was created by R Nelson Nash to take advantage of the guarantees of whole life insurance. Without those guarantees, it's purpose is VOID
@BankingTruths 4 ай бұрын
The video addresses these risks as well as how to mitigate them. For many clients the risk/reward proposition will be favorable. Your statement about IBC being void w/o these guarantees is a very limited view of what's possible with private banking, but it will help you sell more Whole Life. All the people who bought crap Ohio National Whole Life policies don't have much more than guarantees. They're probably not thrilled about having guaranteed negative arbitrage for the rest of their life. Non-guaranteed dividends are needed to effectively execute IBC a long term banking strategy. which is why we focus so much on policy selection, design, funding, and monitoring, all of which can increase the chances of an IUL complement being a successful layer to 4DBanking.com. So you might want to rethink your last bold statement about IBC being VOID w/o guarantees
@theforce5191 4 ай бұрын
Is a transamerica ffiul a good choice? @@BankingTruths
@BankingTruths 4 ай бұрын
No, @@theforce5191 its not
@carymacphee7254 4 ай бұрын
You’re talking to a very small audience. Only an accountant could understand anything that you say. I’m not an accountant.
@JeetS-gm7nx 4 ай бұрын
Do you help Canadian doing business in US
@BankingTruths 4 ай бұрын
No, but email me at [email protected] and we can connect you with a Canadian group we work with
@Jonathan-ut3zh 4 ай бұрын
😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎😎
@JahMrMoneyMan 4 ай бұрын
that really was a bunch of nothing said
@brandonmbanks 5 ай бұрын
Very helpful overview! What about using property as a type of bank? Using helocs to borrow against the growing equity.
@stephenfioirno6040 5 ай бұрын
I bought a Variable Whole Life policy with investment options for my daughter when she was 8 years old. The premium is $228 per year and the DB started out at $25K. Now 40 years later the DB is over $90,000 and the cash value is $34K. I am the owner and beneficiary for now and will sign it over at a later date. The earlier you start with LI the better and premiums are low. She works but doesn’t have any group coverage.
@zebulonsaloum9935 6 ай бұрын
Promo_SM 😂
@tadrod2323 6 ай бұрын
coz Harbaugh,put a massive lump sum to that life insurance, that’s different when you put that into practice with middle income people tho, that’s why millionaires put into a large lump sum into like a whole life for tax purposes coz u can put large lump sum and take that off your taxable income.
@HazeltineLLC 6 ай бұрын
Thanks as always for the great content Hutch! I attended your 4-D banking webinar. One of the interesting things about whole life that doesn't get talked about enough is, as you point out: how it makes your other assets better, especially in retirement. Having a whole life policy allows you to make much more efficient use of the other assets you have. When you look at whole life in isolation (as many do), it's hard to grasp the full power of this amazing asset.
@kriskris5989 6 ай бұрын
Great video..I agree with what you said in this video..Upto this point most of the people I listened to on youtube are either in the WL camp or IUL camp but I see that you believe both have their place in our overall financial foundation..I subscribe to this thought too..My goal is to have 4 max funded IUL’s (100k funding for each of them) and 4 WL policies(100k funding for each of them and a funding period of 5-6 years for each of them)..this will ensure I have 400k in IuL and 400k in WL policies..I currently have 2 IUl’s with Allianz and 1 WL with Guardian..before the end of this year I will signup for Mass Mutual and Penn Mutual ..Next year I will sign up for Lafayette life..This year I also might sign up for Securian and National Life for Iul..can I ask you which comapnies do you have your Iul and WL policies with or which companies do you like since you’ve been by in the insurance space for a long time..I only started buying policies since 2021
@BankingTruths 6 ай бұрын
Hi Kris. We do business with all the WL & IUL companies you mentioned as well as some others you didn't That said, the IUL market changes much quicker than WL, so I don't want to publicly memorialize one over another. I think you would get a lot from booking a Zoom with our IUL specialist @ Bankingtruths.com/Bryan-Schedule. He can give you a full lay of the IUL landscape (which includes some shady practices & really interesting new offerings). Mention this comment on the intake and I will do my best to jump on the first call or for sure the 2nd. - Hutch
@ejbarraza 5 ай бұрын
For IULs Pacific Life's multiplier's can turn an 8% cap rate into a crediting rate of 21.6%. For Whole Life, Ameritas has terminal illness, critical illness, and chronic illness riders in their policies. Securian's BGA 2 has a great persistency credit and 2% floor rate. Symetra's IUL has great UNCAPPED S&P 500 index options.
@HazeltineLLC 6 ай бұрын
Hutch - are you aware there is a company working on a credit card solution that would allow you to spend directly from your cash value? I've spoken with the founder of the company and would be happy to make an introduction for you. I think you'd be very interested. Let me know if you want to talk further.
@HazeltineLLC 6 ай бұрын
Hutch - thanks again for more awesome content! I'd be interested to hear you go into more details on what we mean by "positive arbitrage" in the context of IBC (which you may already be planning to do in your 4-D webinar). I tried to go to the link indicated for the 10/90 policy study but it appears to be dead. Can you check on that? Your article on direct vs. non-direct recognition is phenomenal - every time I hear that objection, I simply point clients to your article and it clears up the confusion. As you point out, currently direct recognition companies actually INCREASE the dividend on loaned balances currently, so how is that a bad thing?
@BankingTruths 6 ай бұрын
Thanks for the heads up. 1090 is working now. Did you still want to do podcast episode?
@BankingTruths 6 ай бұрын
Check out Hutch's whole video discussing the Top 9 IBC Lies @ bankingtruths.com/lies
@oldporkchops 2 ай бұрын
Hi Hutch, do you have a longer form video explaining what is tax arbitrage? This is one concept I've not heard elsewhere. I'd like to learn more.
@BankingTruths 6 ай бұрын
Understand the How & Why of the Infinite Banking Concept @ bankingtruths.com/ibc-concept/
@davidjudson2880 6 ай бұрын
So what happens to this contract now that he is no longer employed by the Regents of the University?
@ikemonyemelukwe8478 7 ай бұрын
How many life insurance policies could one person own ?
@BankingTruths 7 ай бұрын
It's not limited by policies, but by your income and net worth
@chriswatson3707 7 ай бұрын
Great video. Can I get a copy of that contract?
@HazeltineLLC 7 ай бұрын
Great content as always Hutch. I've learned a lot about how to properly structure a whole life policy from watching your videos. I'm glad that you're comparing whole life to a SAVINGS account and NOT an investment.