Incredible value. Been following along for a few months. Going to be opening up a policy with my brother and employing IBC at the start of 2024. Thanks for all you guys do!
The concept of infinite banking is fascinating, and I appreciate the reminder that success often comes from doing what others are unwilling to do. Thanks for sharing this valuable insight!
I worked harder than my colleagues at a radio station as a radio host. One of my colleagues said, you make others sound worse. My boss suggested I worked faster and not as hard. He also complained about I was a personality DJ and not someone reading lines. He fired me. Working harder doesn't always work, if the workplace is a nest of losers. I have also worked at an insurance company as a salesman. I sold whole life insurance. I will get a whole life insurance in the near future, maybe from the insurance company I worked for. It was an awesome company.
I opened a New York life whole life policy when I was still figuring out this infinite banking concept and I’m not sure I set it up correctly. I have paid up additions-are you saying that any paid up additions I do in the first year I can use?
I just learned your from Buffalo! Great! I can't wait to hook up with yall! I'm just south of Rochester, I heard of this tactic 20 yrs ago, however unfortunately I didn't understand pau, and neither did the brokers I used... So, I have been doing the best I can with 1 policy for 20 yrs now, but I would REALLY like to get together with you guys and create several more policies!!
There are no penalties per say, but the insurance company charges a small interest fee on the loan. The loan you take out comes out of your death benefit. Think of it as an advance on your death benefit. You don't have to pay it back, however it will accrue interest and will be paid back upon your death before your beneficiaries receive the death benefit.
Hello Chris, and your friend thank you for Sharing information. How Do I own a Bank. How much money to get started. Where I could started in Austin, Texas. What is the minimum money to get Started. Is this legal.
I'm curious about a couple things. the way you talk about some of the loans and other things. Are you building any IBC's off a IUL platform or is everything designed from a Whole Life Policy? From what I understand about a IBC, when you take a loan. You take it from the cash value, not the death benefit. But when you borrow from a IUL it is being borrowed from the Death Benefit.
It does both. As he mentioned early in the video, when you pay yourself back it is available the next day to use again. But if you don't use it, it is there in death benefit for your beneficiary aka family.
Paying a large sum up front then small deposits after is good if you cant afford that large sum consistently but want the usable cash immediately. So say you only have $200 cashflow to pay monthly but up front you pay $10,000. You then have around $5000 usable funds.
Many people falsly believe it is simple interest, however, it is actually compound interest as any interest not paid off gets added to the loan balance that the interest the following month gets calculated from.
8 billion people. 8 billion devices. 8 billion financial institutions. Can you see the growth opportunity? Bitcoin is transforming our world with endless opportunities.
5% simple interest is what you pay on the loan compared to the uninterrupted compound interest plus dividends on the total casg value of your policy. Makes the 5% negligible.
I got a plan! will it work? time all the bills are paid nothing but 100.00 dollars are left, I built a nice shop in an RV but I also need a work shop If I add a work shop ( wood working ) in a 16 to 20 foot trailer about 100.00 dollar a month. I know you said Over 800 dollars is needed for me because I'm over 80 years old. But I also need supplies, lot of plastic to make signs, and still want to add 20,000 in solar system, to the RV. let me know what I can do? also would like to sell you and your people LED neon signs.
You said you can't buy your car loan interest down like you can on that? Absolutely you can by taking your monthly payment and dividing it by 4 then making weekly payments instead of monthly payments
What if we are running our whole life insurance through a Trust & Trust bank account. Does our W2 income get deposited into our trust bank account which then pays our premiums and loan payments? Or do we just keep direct deposit in a personal bank account and do a wire transfer to our trust bank account?
You show the cash value (which is cumulative) and call that your growth, but then only show the yearly outlay, then you call it “cash on cash return”. This is very shady and you know it. Why don’t you show the cash outlay divided by the cash value of the policy after 10 years?
He also obfuscates the most important details of using a whole life policy for ibc with a huge word salad....probably because he is in the business of "setting up" these policies for people. Wouldn't be a feasible business strategy to share the details necessary to help others do it for themselves.
Hi everybody , I have a basic whole of life policy here in NZ since 1985 annual contributions of $1K new bonus of $1750, So I assume I should absolutely keep this policy ? What can I do with such a policy as to use that money locked up in it $35K ?
The insurance companies pays us a commission. Clients don’t have to pay agents out of pocket like you would if you hire a Financial advisor. Even consultations are free for clients, but thats why Chris makes all these videos for people to learn for free!
He talk to much…and this is bad bcuz we come across a lot of talkers with no real results but them trying to sell us their products! Dude keeping things to the point and concise is key unless someone is not getting it then you can go a little deeper with illustrations in another video
You’re such a great motivator , speaker and you make sense a lot ..that’s why I subscribed ! Thanks for your hard work!
Incredible value. Been following along for a few months. Going to be opening up a policy with my brother and employing IBC at the start of 2024. Thanks for all you guys do!
It is really nice when it grows every year
You guys are great teachers. Wishing i would have gone though you guys on my policy.
The concept of infinite banking is fascinating, and I appreciate the reminder that success often comes from doing what others are unwilling to do. Thanks for sharing this valuable insight!
Here to learn along with you!! Thanks!
I worked harder than my colleagues at a radio station as a radio host. One of my colleagues said, you make others sound worse. My boss suggested I worked faster and not as hard. He also complained about I was a personality DJ and not someone reading lines. He fired me.
Working harder doesn't always work, if the workplace is a nest of losers.
I have also worked at an insurance company as a salesman. I sold whole life insurance. I will get a whole life insurance in the near future, maybe from the insurance company I worked for. It was an awesome company.
I'm here, this is your discovery/reveal... Thank you for sharing. I'm so excited about this ❣️✌️🥰💞💞💞
I opened a New York life whole life policy when I was still figuring out this infinite banking concept and I’m not sure I set it up correctly. I have paid up additions-are you saying that any paid up additions I do in the first year I can use?
You’ve got me thinking! ☮️
Wow! Much to learn and soak in! I wish I had 123k a yr for 7 years to put into a policy but I don’t.
Love the numbers
Dude I love numbers ❤😅
So, where can I buy this policy in NY state?
Great one brother!
I just learned your from Buffalo!
Great! I can't wait to hook up with yall!
I'm just south of Rochester, I heard of this tactic 20 yrs ago, however unfortunately I didn't understand pau, and neither did the brokers I used...
So, I have been doing the best I can with 1 policy for 20 yrs now, but I would REALLY like to get together with you guys and create several more policies!!
How soon do you have to pay your loan back to the policy once you take money out? Is there no time frame? How does that work? Are there penalties?
There are no penalties per say, but the insurance company charges a small interest fee on the loan. The loan you take out comes out of your death benefit. Think of it as an advance on your death benefit. You don't have to pay it back, however it will accrue interest and will be paid back upon your death before your beneficiaries receive the death benefit.
This is excellent
Hello Chris, and your friend thank you for Sharing information. How
Do I own a Bank. How much money to get started. Where I could started in Austin, Texas. What is the minimum money to get
Started. Is this legal.
I'm curious about a couple things. the way you talk about some of the loans and other things. Are you building any IBC's off a IUL platform or is everything designed from a Whole Life Policy? From what I understand about a IBC, when you take a loan. You take it from the cash value, not the death benefit. But when you borrow from a IUL it is being borrowed from the Death Benefit.
Why do I have to use IBC to invest the interest from the loans. I can put it into many interest paying accounts
Can you share that policy loan calculator?
Whats a good one to open in the uk. Leaving for kids is not necessary for me. Just for life management.
Anyone can explain the difference between this insurance and the one self dire strategy offer through Yamaha
Chris what about those of us that are well into our 60’s retired etc. what would be the limit of how much we could fund a policy for? Seven figures??
I was under the impression that there was no limit to the AUM you could have in your bank/insurance policy.
Will this work in the UK ?
I don't make much how do I get started
Listen to more videos
What are the cons?
If I'm not a US citizen, how do I set this up ?
Aslong as you have a permanent Resident/Green Card with a social security, you can set it up.
Would it be beneficial to pull out $100,000 in a HELOC and open a whole life account? Would it gain the 80-90% per year?
No. Whole life policies are bull$#!t
Do your own research and run the numbers.
How can I “possibly” start IBC for myself and “maybe” even for my daughter and grandson?
Buy a policy, make your deposits, capitalize on available cash. Treat you policy like a real bank
Can u recommend a Canadian company for the policies?
Yes, reach out to craig@themoneymultiplier.com to get connected with our Canadian partner
@@TheChrisNaugle thanks a ton!!
If the cash value of policy is greater than death benefit will beneficiary get the cash value or just death benefit?
Not possible. The cash value is the current value of the future death benefit. They equal each other at age 100
Can I roll a 401k account into a infinite banking policy ?
Read the book “becoming your own bank”
When repaying the loan, does it go back to the death benefit or does it add up to the cash value of the policy?
The loan principal paid fills your available cash value bucket to use again.
It does both. As he mentioned early in the video, when you pay yourself back it is available the next day to use again. But if you don't use it, it is there in death benefit for your beneficiary aka family.
Want to schedule an appointment
Reach out to my guy craig@themoneymultiplier.com for a strategy call.
Can you take out a whole life for a Roth so you wouldn’t have to worry about gains if you ever surrender the policy?
Is New York Life a good company to set up a whole life policy?
Can you work with people who are in the UK, Do you have partners in the UK
Paying a large sum up front then small deposits after is good if you cant afford that large sum consistently but want the usable cash immediately. So say you only have $200 cashflow to pay monthly but up front you pay $10,000. You then have around $5000 usable funds.
Please put chapters 😅
What are the tax consequences if you decide to close this bank?
Why would you want to?
Does the loan charge compound interest?
Simple
Many people falsly believe it is simple interest, however, it is actually compound interest as any interest not paid off gets added to the loan balance that the interest the following month gets calculated from.
Is it safe to say that IBC users don't use banks?
No, because you still need to have a bank account to be able to send/receive premiums and loans to and from your policy.
They also prefer not to tie up money in long term loans like a 30yr mortgage so it's better to use Velocity banking for that.
Hey Chris, does money multiplier take on Canadian residents as clients?
Do you have or can you get a US bank account?
I think they have a partnership with a Canadian team, since the laws are different.
@@9thebigcool yup but no SSN or ITIN
@@multimeter2859 any idea who its with?
@@PlaylistJunction No idea for sure, but usually if you have the documents needed for a bank account you can get a life insurance policy.
8 billion people.
8 billion devices.
8 billion financial institutions.
Can you see the growth opportunity?
Bitcoin is transforming our world with endless opportunities.
If I'm My Own bank and I pay myself interest , doesn't that mean it still cost me?
5% simple interest is what you pay on the loan compared to the uninterrupted compound interest plus dividends on the total casg value of your policy. Makes the 5% negligible.
I am willing.
How much is the dividend, how often is it paid.
Can you use this to live off of, i.e. retire?
Once per year, and it is relative to the total premium paid in and overall cash value.
Yes
at what point do these policies no longer make sense because of life expectancy ? 70?..75?..80?
I got a plan! will it work? time all the bills are paid nothing but 100.00 dollars are left, I built a nice shop in an RV but I also need a work shop If I add a work shop ( wood working ) in a 16 to 20 foot trailer about 100.00 dollar a month. I know you said Over 800 dollars is needed for me because I'm over 80 years old. But I also need supplies, lot of plastic to make signs, and still want to add 20,000 in solar system, to the RV. let me know what I can do? also would like to sell you and your people LED neon signs.
Can you find a W L pol for 81 yr woman?
I am willing
I’m 78. Can I start?
You can be the owner of a policy where the person insured is a family member or business partner.
You said you can't buy your car loan interest down like you can on that? Absolutely you can by taking your monthly payment and dividing it by 4 then making weekly payments instead of monthly payments
Done
What if we are running our whole life insurance through a Trust & Trust bank account. Does our W2 income get deposited into our trust bank account which then pays our premiums and loan payments? Or do we just keep direct deposit in a personal bank account and do a wire transfer to our trust bank account?
If I take out a loan on my policy. Dose that loan show up on my credit report??
Nope
I am willing to
Hello?
Can somebody acknowledge
Thanks Jay you can book with someone from the team the link is in the TH-cam description, or at chrisnaugle.com
You show the cash value (which is cumulative) and call that your growth, but then only show the yearly outlay, then you call it “cash on cash return”. This is very shady and you know it.
Why don’t you show the cash outlay divided by the cash value of the policy after 10 years?
He also obfuscates the most important details of using a whole life policy for ibc with a huge word salad....probably because he is in the business of "setting up" these policies for people. Wouldn't be a feasible business strategy to share the details necessary to help others do it for themselves.
@rythmicwarrior you must own your own mine and factory to make your own cars, computers, phones, tvs ,etc?
Hi everybody , I have a basic whole of life policy here in NZ since 1985 annual contributions of $1K new bonus of $1750, So I assume I should absolutely keep this policy ? What can I do with such a policy as to use that money locked up in it $35K ?
Your examples are always 10K. I love your advice but are you able to maybe offer some insight with 1 - 2 K to start
I want to schedule a appointment
Reach out to my guy craig@themoneymultiplier.com for a strategy call.
Paid up rider
How much do you make from each of us¿
The insurance companies pays us a commission. Clients don’t have to pay agents out of pocket like you would if you hire a Financial advisor. Even consultations are free for clients, but thats why Chris makes all these videos for people to learn for free!
14:14
I am
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base plus riders
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Lol, apples $123k, oranges $12k at the 27 min mark 😂
Why doesn't it work ?🤔
1
An hour and 23 minutes to tell me the best way to fund my bank. Lol
Did did u know all of that already before he took the time to explain it?
Bs comming early not getting paid not comming in did that for years never recognized for the effort !!
Why do you have to go on snd on and on and on and on. Just say it!
Scams
He talk to much…and this is bad bcuz we come across a lot of talkers with no real results but them trying to sell us their products! Dude keeping things to the point and concise is key unless someone is not getting it then you can go a little deeper with illustrations in another video
1
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