Yooo! I remember watching your videos in that dark room on that small whiteboard. I was blown away by velocity banking. Thank you for the content and congrats on your success and marriage!🎉
he should have done velocity banking into his remaining policy loan versus save the 30k over 4.6 months and then dump into policy to pay off policy loan. seems like it would go more efficiently and pay it off faster.
@@mhusa2911 but then I don’t have the funds to max fund the policy. So remember it’s more efficient to pay more dollars into the policy first before paying the loan balance off after
@DenzelNapoleonRodriguez not true. he can pay down the policy loan to lower the average price daily balance calculation by practicing velocity banking into the policy. when the premium comes due, the policy can fund itself through a new policy loan that he'll work down again using velocity banking. after year 2, a policy is big enough to self fund the premium with a policy loan.
@DenzelNapoleonRodriguez also even if you couldn't meet the full policy premium with a policy loan, the funds in heloc could always step in to temporarily fund the policy premium. after 10 days or so the premium funds become available, and can be borrowed right back out to immediately pay off the heloc back to 0. this is useful actually in years 1 and 2. you can bootstrap a policy with 0 money upfront as long as you have heloc liquidity equal to or greater than your annual premium size. 1) you pull from heloc to pay annual policy max premium. 2) 10 days later, after funds clear, you max pull the entire premium out. 3) practice velocity banking on the heloc to pay off the heloc since in years 1 through 3 you can't borrow 100% of premium back out. 4) once heloc is zeroed out, practice velocity banking on the policy loan until it's zeroed out. hopefully, before the next annual premium is due. if not pay the next annual premium and the annual interest due, yet again with heloc 5) repeat steps 1 - 4.
@DenzelNapoleonRodriguez the net effect is this. you can use a policy loan to borrow a policy into existence. the trick is to have a heloc available to pay all the annual premiums when they come due, and then practice velocity banking throughout the year to actually pay the premium using monthly cashflow. its more important to stay a policy sooner, than to wait a year to save up the annual premium because of the compounding effect in the last year of your life. the extra year of compounding in the policy leads to a massive gain in the final years of your life.
Yooo! I remember watching your videos in that dark room on that small whiteboard. I was blown away by velocity banking. Thank you for the content and congrats on your success and marriage!🎉
@@romansempire6214 thank you very much for the continued support more to come
he should have done velocity banking into his remaining policy loan versus save the 30k over 4.6 months and then dump into policy to pay off policy loan. seems like it would go more efficiently and pay it off faster.
@@mhusa2911 but then I don’t have the funds to max fund the policy. So remember it’s more efficient to pay more dollars into the policy first before paying the loan balance off after
@@mhusa2911 in reality because of all the conservatives numbers I displayed he should be able to do both fund the policy and pay the loan off faster
@DenzelNapoleonRodriguez not true. he can pay down the policy loan to lower the average price daily balance calculation by practicing velocity banking into the policy. when the premium comes due, the policy can fund itself through a new policy loan that he'll work down again using velocity banking. after year 2, a policy is big enough to self fund the premium with a policy loan.
@DenzelNapoleonRodriguez also even if you couldn't meet the full policy premium with a policy loan, the funds in heloc could always step in to temporarily fund the policy premium. after 10 days or so the premium funds become available, and can be borrowed right back out to immediately pay off the heloc back to 0. this is useful actually in years 1 and 2. you can bootstrap a policy with 0 money upfront as long as you have heloc liquidity equal to or greater than your annual premium size.
1) you pull from heloc to pay annual policy max premium.
2) 10 days later, after funds clear, you max pull the entire premium out.
3) practice velocity banking on the heloc to pay off the heloc since in years 1 through 3 you can't borrow 100% of premium back out.
4) once heloc is zeroed out, practice velocity banking on the policy loan until it's zeroed out. hopefully, before the next annual premium is due. if not pay the next annual premium and the annual interest due, yet again with heloc
5) repeat steps 1 - 4.
@DenzelNapoleonRodriguez the net effect is this. you can use a policy loan to borrow a policy into existence. the trick is to have a heloc available to pay all the annual premiums when they come due, and then practice velocity banking throughout the year to actually pay the premium using monthly cashflow. its more important to stay a policy sooner, than to wait a year to save up the annual premium because of the compounding effect in the last year of your life. the extra year of compounding in the policy leads to a massive gain in the final years of your life.