If You Have $10,000 In The Bank MAKE THESE Moves! | Wealth Nation
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- เผยแพร่เมื่อ 24 ม.ค. 2021
- ⚡ FREE TRAINING, The Living Benefits of Life Insurance, &
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About:
If you have $10,000 in the bank, make these moves! Inside this video, we share with you exactly how we used that $10k to erase our debt in less than 3 years and set ourselves up for financial freedom by year 5. Ready to start Infinite Banking yourself?
✍🏾 Are you ready to Start a Policy? Complete our new client application.
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LOVE THE INFORMATION IN THIS VIDEO!!! CAN'T WAIT TO START OUR FAMILY BANK SOON !!! ✊🏾💪🏾
I absolutely love the power duo of you two! You guys are amazing! You guys are helping us learn and rewire our brain on better thinking financially!
So excited to join Wealth Nation! Binge watching 👀
Best channel i stumbled upon
Awesome, best video explaining about how whole life insurance works. Thank you very much.
I love your vides guys, they are so genuine, natural and fun!, by the way , I signed up for your program, but I hace some questions for example, I am not sure if its better to do my 17 old son or my policy first and I am considering the 10K premium, to have access to all that cash
Her explaining was soooooo helpful
I know this video is old, but it’s very helpful! Thanks y’all! All of my questions have been answered 😊😊
Investing implies principal @ risk of loss, not so with savings. Yalls exchange really helps make the content understandable & pleasant to watch. Thx for expertise & willingness to share! 😎
Great information. Grateful appreciated 💯💥
I’ve already applied just waiting for underwriter to approve.
A lot of questions with no answers in this comment section. I'm sure if someone wanted to buy a shirt or buy into your program you would respond quickly hmmm.....BUT I do like your videos very helpful. It really gets the juices flowing ..TY
Definitely have some questions. Spoke with my insurance company and got some different information regarding borrowing from the policy/paying into it in lump(i.e the 10,000)etc.
I just stumbled upon your channel! Im 22 and currently studying to get licensed just as you two are and I also want to invest into real estate with in one year. Thank you for your wealth of knowledge!
I can appreciate you guys sharing your experience. I did the whole life insurance some years back. It’s one of the worst decisions anyone can make. Any young person should separate their life insurance and their investments. Everyone should do their homework before looking at whole life insurance as a savings or investment, it’s neither.
Thanks for an alternative viewpoint.
maybe you made really bad investments 🤷🏽♀
@@daisyhernandez6279 my bad investment was looking at a whole life insurance as an investment vehicle. It’s an investment should I past away before I can self insure. The amount of money spent upfront is wasted money compared to the benefits. Individuals are better off separating savings/investment from life insurance. These are completely different products and should be treated as such. There are plenty of calculators for individuals to use for comparison. The numbers don’t lie. Individuals need to educate themselves and sit down with a financial advisor and make the best decision for them and their families.
Were you taking the loans out to invest with? I’m trying to understand how it’s a bad idea if you can keep your money inside to compound while also taking loans to use to buy investments?
@@BrinAmberlee there are no free meals in this world. You will have to run the numbers and see if it makes sense for your financial health. The insurance company is looking to make profit. The interest earned on money given to the company will be very low; interest rate paid on loans will be very high. We have to assume the investment will return above the interest charged on the loan.
Thanks guys
Do you have courses that I can take advantage of
By the way dale is taking good care of my policies
Opening one for term that is expandable to infinite banking type
YOU GUYS ARE THE BEST LOVE IT.
I IMMEDIATELY SUBSCRIBED CAUSE YOU ARE LISENCED AND YOU BOTH LOOK INCREDIBLY HONEST WITH BEAUTIFUL ATTITUDE AND MOST IMPORTANT YOU EXPLAIN THINGS BEAUTIFULLY.
I REALLY LOVE YOU TWO.
I BELIEVE OUT OF SO MANY IVE CHECKED OUT, YOU WILL MOST LIKELY BE THE TWO BEAUTIFUL PEOPLE ILL BE CALLING FOR POLICIES FOR MY 4 KIDS.
BEAUTIFUL TWO YOU ARE, AND BEAUTIFULLY EXPLAINED.
YOU TAKE THE STRESS OUT OF UNDERSTANDING SO MUCH AND VERY CLEAR.
REALLY AWESOME YOU TWO.
LOVE IT. ❤❤❤❤😊😊😊😊😊
Well, I have a very good mentor in the market. I'm going to fund my whole life with those funds and fund my stick market with my business. Then use my job to pay my bills
Thank you so much for the video. It is very instructive. Some people said index universal life insurance is better than whole life insurance. What is your take on that?
Yes absolutely RIGHT SIR IUL LIFE LICENSE INSURANCE IS DIFFERENT AND BETTER I JUST WAIT FOR MY APPROVE I UNDERSTAND IT
I would like more information on the way to utilize whole life insurance as a financial vehicle.
I would like to set this whole life policy up
Hello can you guys help me understand how this works , and what’s the interest rate on the money borrowed and saved
He answer my question thank you
making sound investments into good companies, is a form of control, though i have learned a lot from you guys, kudos. motley fool will make you bread.
no doubt
I follow your TH-cam videos but can't find a way to talk and catch you live
Where of your videos do i find , when it makes serve to pay off other debts with the whole life Loan? Ty
What whole life policy can i put 10K into and it allows me to ues/borrow 20% to do as you did?
Hi what insurance companies are the best to buy into
Hello folks, are you independent agents? If so I would like to be a part of your network. This information is powerful! 0 risk!!!
Is there an waiting period of receiving a Loan from the Life Insurance Co?
Yes, yall are the GOLD NUGGET!
Can I discontinue my term life insurance policy and start over, would that be wise?
There are a ton of moble homes in my town
There is a mobile home factory
Here in hermiston Oregon 6miles from 1/2 from my J.O.B.
I i see not only abandoned Mobil homes in parks but abandoned Mobil homes on there on property
What are good whole life insurance companies and policy to use?
Yeah that all is awesome except when the insurance company wants to mess you over on a super high cost on the insurance and yes i know you can use other people but it just makes everything more complicated.
Hi @cmwatcds1! Thank you for checking out our video. I haven't had an issue with any of the companies I have my personal policies with. It's really in the insurance companies best interest for loans not to be complicated because they get to earn interest off of money (death benefit) they have on hand.
@@WealthNation can we pm and talk more
So where can I get intouch please
Please give me more information I'm willing to start now.
Hey how do I get while life insurance and where and how much
On the Whole Life insurance policy, do money goes out of your pocket to pay a policy? People are using their $10,000 savings account as a collateral personal loan to pay off their debts. This allows the money in the account to continue to earn interest and receive a very low interest loan. The loan pays off the debits. After all of the debts are payed off now they get another $10,000 loan to add to their savings. Oh, they are also using the insurance on their home as a death benefit.
Question. Does it take a certain period of time to be able to get loan from insurance co? don’t you have to pay a ton of premiums before you can get to the borrowing point?
It's usually a year or 2. Depending on your insurance co.
How soon is cash value available for a loan after starting a whole life insurance policy with $10000???
Are you taking about Max Funded Policy
What if they do a way with money and you can only use a card please tell me how would you live to better happy
Great content! Thank You for the info.
Can you borrow the exact amount you put down or is it a percentage of your deposit?
Hi Eric! Thank you for checking out our video! Initially, you are not able to borrow dollar for dollar. It is only a percentage when you start. The policy is designed so that you can borrow more than you put in after year 4 or 5.
@@WealthNation I have term with a similar benefit. Why is whole life different?
@@WealthNation As dumb as this may sound, I'm going to tell you any way. I just realized that I do have whole life but I am unable to cash out for another 4 years. Is there anyway I can transfer my policy that I have now with a company that you represent? Or is it recommended to drop what I have and start a new policy?
@@WealthNation Do you have a number i can get ahold of you all i have several questions?
@@ericandersen469 it's your money and i think you should contact several Mutual While Life insurance companies to find out. That's if they don't respond. Good luck
please tell me more about your whole life insurance: who is the Insurer, face amt, guaranteed rate of return?
I would be glad if my question is answered here. I put in extra money in a WL, say 10,000. I borrow 10k to do my own thing, and while my cash value is supposedly still in my policy, I get taxed annually like say 5% as you guys said because I borrowed money from my insurance company. Ok, how much is the % that my 10k is getting in my policy?
How does borrowing money from the insurance company instead of my own policy change anything? I still have to pay back interest either way? What is the advantage to this? I have not heard this explained.
There are less taxes to pay with a whole life polic
i did a self direct IRA account lost my job couldn't pay back the a mobil home i bought for my in laws
Now i owe the state $16000 Oregon
in income tax
I got 10k right now
Hi guys, I have a question (s). If I open a whole life insurance policy with 10k dollars, what would that buy me and what would that look like as far as future premium payments (if that make sense)? Thanks!
Hi guys we would like to get started I spoke with a guy named Randy Bratton on video call in Dec is he with Wealth Nation? I also spoke to him about 40/60 policy can you please full us in on what is going on.
How can I get directly in touch with you guys
How do make out checks for bills?
You guys need to explain "WHERE" to go to find this whole life insurance? The best names of these companies with the best benefits details always matter.
What company is the best to go with?
Question: If your premium is $10,000, then you pay that every year. In previous videos, your spreadsheet stopped paying the $10,000 after 4 years. Was the $10,000 that stopped after the 4 years in addition to the premiums or was that the premiums? Ex: premium $10,000 and paid and extra $10,000 equals $20,000 total paid that year for the 1st 4 years. 5th year total paid is back to $10,000 premium only. Please explain. Thanks
Send us a text +. 4. (4 7 4). (4. 1. 4). (5. 2. 5. 7. 4) WHTS // APP ...
Imagine if you took those same premium payments and instead invested in a SP index fund (SPY for example) and was able to enjoy a return on investment of 35% in the last year alone and on average of 7-10% over all. how then is the cash value that historically underperforms the market a rational option?
How soon can you withdraw money from your whole life insurance policy and how much !!!!! I have 10,000 sitting in a shoe box i also have 50,000 in investments and 3 months emergency fund🤔🤔 greatly appreciate any suggestions
Do you have contacts in Canada for a good whole life insurance broker? I`m ready to start, but I would like to start with the best. I'm located in Montreal.
How much are your premiums
How much is your benefit
How much can you barrow or
What is the max, how long to pay itback.
How much interest does the insurance company charge for the loan?
FREE GAME.
I need help with whole life insurance policy. Please help me
Hey guys.where you guys from..i would love to talk to you guys become part of what you guys are doing...
It seems good but google is saying the average interest you earn is about 1.5% per year. Lets say you wanted to do a Tbill ladder at 5.5% and the simple interest is 5%, now it looks less advantageous. It does look like the insurance policy is a good deal, just not to sink everything into in my opinion
Do you pay interest on the loan from the insurance company?
You do. But you’re also receiving dividends from your mutual company. They usually cancel each other out.
How do I get in touch with you or your wife of the company. I have a question that I need to ask the both of you that it is important to me.
Carmen and Darius! You two are a very beautiful couple.
What about we get real time policies for example explain with the products you own as per every explanation won’t be confirmed until someone buys into a contract ? Nothing is real until the person went and got a policy so let’s just examine your contract ?
Will the whole life insurance company base the loan on your credit or just the amount you have in cash value?
Based on your cash value, the carrier will put a lien on cv in the amount of the loan.
@@juanzapata7701 thanks 🙏🏾
Hi @Maurice, Loans are only based on cash value.
@@WealthNation thanks a lot!
for those who are on this.. which life insurance provider are you with?
How much for 1million dollar policy
Don’t you also pay fees to the insurance company for this ability to use your cash value to Los Jang’s instead your policy. Is it true that the fees are kind of high? So even though you are using your own money any your money is supposedly safe when you take the loan. The fees eat into the value of your policies cash value. If it was zero commission or fee then it you would technically retain the same cash value. Am I right or half way right about the points I made?
Yeah Warren said that but he owns a lot of stocks...
I don’t see anywhere “Become our client “
Do you have to pay them back
If you don't pay it back what happens.
So let's say I purchase a Whole Life policy for $10,000. 1. When can I start to access the loan function (how many months)? 2. What % of that $10,000 would be available to me once I can first start to access it? 3. The following year, assuming my loan balance is $0, I pay another $10,000 premium. Does that mean I now have a % of $20,000 of cash value to borrow from?
Great question @Dawn! If your premium frequency is annual you can get a loan within first two weeks of your policy being inforced. If your premium frequency is monthly you will have 1/12 of the annual loan balance available to you. The first year of your policy you should have 50 - 70% of your premium available for a loan. I gave you a range because it depends on policy design and premium amount. Yes, If your loan balance is $0 after you pay another $10K premium you have access to % of $20K of cash value.
@@WealthNation Thank you!
I tried to talk to my insurance company and they was no help smh
How can I find the free course?
Here you go wealthnation.io/masterclass/
I have term life insurance, should I upgrade to whole life?
Hi @Fabrizi! We use whole Insurance because of the cash vale accumulation to do Infinite Banking. If this is something you are interested in you are not able to do it with tern life because it has no cash value.
@@WealthNation thank you. I’ll look into it further 👍
Coming into IBC as a noobie... how do you establish lending contracts? - assuming through a lawyer??
Have you heard anything in regards to the recent change included in the last stimulus package that shifts the guaranteed 4% compound rate down to 2% for 2021 and then floating with the prime rate there after????
So...are you saying if you take out a life insurance policy for 10,000. Every year, you will pay an additional 10,000?
Yes my friend
The cash grows but the life insurance company charges you for the loan.
I was interested in getting whole life insurance over $10k, could someone get in contact with me so that I am properly represented.
Thanks for watching, , I'll like to introduce you to something new
+. 1. 2 0 1. 3 7 9 .8 8 3 5
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How long do you have to have a whole life policy before you can withdraw money
Minimum 1 year, but you don't want to do that until about 5 to 10 years.
@@mikieemiike3979 ok but do you have to start with 10,000
@@dinerodee5020 No. In my case. My policy is set up for $400 a month, $4,800 a year. On top of that I have 10k already saved that I want to add in the form of $2000.00 a year for only 5 years. So, for 5 years im paying $6800. On the 6th year it's dropping to only $4800, which is 400 a month. That will help long term. It's my 401k replacement.
@@mikieemiike3979 smart what company do you have if you don't mind me asking
@@dinerodee5020 Sure. I'm using Penn Mutual.
If I open a Whole life Insurance policy with Cash value. I want to start with a $10,000 annual premium. If I start does 40% of that premium go to commission, leaving me with 60% cash value available in the first 6 months?
If you start a $10K annual premium, 40% pays for death benefit and yes a portion goes to agent commission. The cash value is available within first two weeks. You don't have to wait 6 months if you have a way to make more money.
What if you don’t have $10,000 to put on whole life insurance
You can start with a monthly deposit.
Which company you do you use for your whole life insurance?
Issue: if $10,000 is invested in the policy how much will be available to pay for daily life?
So budget wise it best to have a stream of income to pay for the policy for 5/6 years and a stream of income to pay for everything else while you wait to use the policy to bank on?
Hi @Lion Fish, thank you for your question. $10k is not invested into a policy. We are storing our savings in the Policy and borrowing from the insurance company to invest. We are only using money from our savings. th-cam.com/video/-iElwqpUEdI/w-d-xo.html
It’s always good to have multiple streams of income but isn’t necessary to do Infinite Banking. Also, you don’t have to wait 5/6 years to use the funds. For example, if you premium is annual you can use fund’s as soon as 2 weeks after policy is inforced.th-cam.com/video/0X1EDkNWLpg/w-d-xo.html
What abo😮it if I just have $5000?
Like some of your other videos but I'm just not getting this one.
First of all, I've never heard anybody say insurance is an investment except an insurance salesman.
Secondly, the peer-to-peer investment you're talking about has you assuming the risk. Even if you draw up a loan agreement, you're still assuming the risk and have to sue the person if they don't pay. Since it's person to person, it's probably someone you know and they may think can stretch the terms or pay late.
Because of these two things I didn't go any further with this video.
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I am confusing here, If am I not wrong here we can take a loan on policy only for which premiums we have paid. so you are saying that you are taking a loan from the cash value how this possible. can you clear to this me.
Hi Infinity group! Thank you for your viewership. As we make premium payments we accumulate cash value, these funds represent the amount of money we are able to borrow from the insurance company. The policy is created so that the cash value overtime becomes more than the cost of Insurance. The most important piece to this is to use the borrowed money to make more money.
@@WealthNation my question is we can only take the loan on premiums only is that right.
@@infinitygroup9629 that's my question to. I was excited until I figured out they were talking about only borrowing from the account you put in not the larger number
I had good success with P2P lending by finding high net worth individuals who had CC debt. You would be surprised how many doctors and lawyers need this.
What happens when the 💵 collapses ? What becomes your death benefit? 🤔
Yikes! If that happens, the status of your death benefit is the LEAST of your worries 😂
I like you guys but... this is not a good idea for alot of people & although the cv in your policy is borrowable and you're paying yourself back, if you're in bad health or if you loan this to someone else, you can lose the cv and eventually not be able to keep the life insurance policy because your policy loan interest compounds losing your cv within the policy.
Also if you become uninsurable you have to be careful you don't lose your life insurance benefit.
FWIW I have a policy I've borrowed against multiple times but I always pay it back.
I've also lost over 150k on bad real estate investment scams by flipping with gap funders.
Buyer beware!
Other peoples money? Where do you think that $10,000 came from? Giving it to an insurance company is a terrible way to "control" your money.
I enjoy your videos but it surprised me that you are so well educated about your finances but talk about whole life insurance as something good to have. The dinamics of a whole life insurance works in favor of the company and not the policy holder. I am not going to explain here why because it will take a lot of writing. Whole life is a waste of your hard earn money.
CAN be a waste. Not inherently a waste. Depends on how the policy is designed.
Stop misleading people. This 10k is clickbait. How many years of premium payments do you need have enough cash value to take a loan on your cash value? Then once you do take a loan on your cash value, you are paying 5-6% interest to the insurance company, while they return 3.5-7% in dividends which ends up being a wash or additional cost on top of the cost of insurance. How does this reduce any risk and make sense? You are essentially providing the insurance company with liquidity to make money on your money and charge you for it.
Pointless, no product exists like this in the UK
Lost me when he said he don’t invest in stocks
Hi, you failed to mention that Whole Life Insurance is about 20x more expensive than Term Life Insurance. Wise investors buy Term Life, then invest the difference of the premium cost/expense, into the stock market. Multiple that by 15 - 20 years, and you've realized SUBSTANCIAL gain! Also, Upon death, Whole Life Companies KEEP all of the CASH VALUE savings, paying out, ONLY the policy amount. Example: If a couple has paid into a policy ($500,000) for 10 years, then one of the spouses dies, they pay the surviving spouse ONLY $500k, NOT the $500k + the SAVINGS AMOUNT, which would be any amount the couple has contributed ($1.00 - TEN'S Of Thousands Of Dollars). The policy is written, so they KEEP the 'CASH VALUE'. This is the part that MOST Black/Minorities DON'T read. Obviously, NO Whole Life Agent will inform you of this (Read Your Policy!!!!).
Well of course they keep the cash value, bc the cash value comes from the death benefit. You're buying the insurance for a short life span or accumulating savings if you live a long life. Either way your paying way less. You're example assuming a reasonable monthly premium of $500 dollars, would mean they put in $60, 000 so the spouse got their $60,000 back plus another $440,000 in the insurance payout. The cash value is simply there for you to access some of your savings should you need it but it's already saved for you in the death benefit
Where does Jesus Christ come into this poor thing ? I'd like to help poor and homeless. For free.. wasn't he Un conditional love ? How do you do that ? I need my mobile home fixed or traded. Can i flip my own too then ? Money loss = a write off isn't it ? How are debt notes not a debt to write off anyway ? Corporations are using our 3M credit.. do you know about that ? Please be up front on your irs dealings please. Thank you. Proceeds is what we need to claim from banks on our credit to irs