Becoming Your Own Banker: Part 1

Becoming Your Own Banker: Part 1 - Nelson Nash

Рет қаралды 19,827

The Money Advantage

Күн бұрын

Пікірлер: 49

@iant720 5 ай бұрын

Hated finace classes... But these concepts are faciniating!

@TheMoneyAdvantage 5 ай бұрын

I'm glad you find the concepts fascinating!

@gregstokes7169 Жыл бұрын

I am loving this. Brand new to Chris Naugle, Nash, and the wealthy.....love the EINSTEIN QUOTE about Compound Interest being 8th wonder of world and we are either EARNING INTEREST or PAYING INTEREST. Amazing ! I am getting my first policy now.

@TheMoneyAdvantage Жыл бұрын

Thank you for watching! Glad you found it valuable

@eddooley947 8 ай бұрын

My first job out of college was at the money center bank than known as CitiBank in NYC. My job was as a teller, which I thought was below my skill level. Looking back, as Steve Jobs would say is the only way to connect the dots, this job exposed me to all kinds of people: trash man to Wall Street traders. Back in the late 80's there was no direct deposit so the actual person or their spouse would come in with the actual paycheck, net of course. Point being I knew there was a better way. Of course the bank did not have it in the branches except for the occasional wealth mgmt "expert" who would come in 2x a year. When I went to my public library to look for Nelson Nash's book not one library, public or university, had it available in the entire United States. This book and one by Dan Pena were the only interlibrary loans requests cancelled as they could not locate it anywhere in North America. Wonder why?

@TheMoneyAdvantage 8 ай бұрын

Thanks for sharing your story!

@carltonmcgee8878 10 ай бұрын

You've just picked up a new subscriber..........I've been my own digital bank since 2020. Peace.

@TheMoneyAdvantage 10 ай бұрын

Thank you so much for subscribing! We are glad to have you as part of the community.

@carltonmcgee8878 10 ай бұрын

@@TheMoneyAdvantage no, thank you.......

@isabelandmom3103 Жыл бұрын

Great introduction. I am enjoying the concepts of mind set and the dynamics of money. Thank you.

@TheMoneyAdvantage Жыл бұрын

Awesome, glad you're digging it!

@Thewonderingminds 11 ай бұрын

@@TheMoneyAdvantage .....Great introduction. ..... for real ??? NO.... don't bite bates,,,, 50minutes is a long long LONG time for introduction. got it yet????

@TheMoneyAdvantage 11 ай бұрын

@@Thewonderingminds This is part one of a multi-part series on our podcast. Our podcast episodes have always been about an hour. KZbin shows you the length of videos, so if 50 minutes is too long for you then do not watch it.

@Seccheus 10 ай бұрын

I would like to see a WL policy vs IUL policy for me.

@TheMoneyAdvantage 10 ай бұрын

Are you saying you want to meet with an advisor to look at policies for yourself?

@Seccheus 10 ай бұрын

@@TheMoneyAdvantage yes a WL vs IUL for myself!

@TheMoneyAdvantage 10 ай бұрын

@@Seccheus you can book a call with an advisor here: themoneyadvantage.com/calendar

@Seccheus 10 ай бұрын

@@TheMoneyAdvantage booked.

@daddydoo5644 Жыл бұрын

I think it’s Great information, I have no assistance. I was shot in the head in 2019 and I’ve been living in a house that was abandoned for the last 3 years. I haven’t worked since I got out the hospital,, is there a place where I can go to get assistance setting this up? Keep putting out Great Videos !!!

@TheMoneyAdvantage Жыл бұрын

We are sorry to hear what you have been through. Setting up a whole life insurance policy for Infinite Banking requires income greater than your expenses. For more information, check out our free guide: privatizedbankingsecrets.com/

@1245JL 11 ай бұрын

Theres local agents everywhere

@Seccheus 10 ай бұрын

Nelson said he did not create the concept. So what did people use before Nelson used it with WL.

@TheMoneyAdvantage 10 ай бұрын

The concept of banking, or arbitrage, has been around for a long time. The ability to take loans from Whole Life Insurance existed long before Nelson Nash wrote his book.

@yourmovebro8650 9 ай бұрын

Nelson added scale

@billcurtis7511 8 ай бұрын

Nelson didn't invent the concept. He just discovered something that was already there that no one else saw. He put it altogether for the rest of us. If you read his book over and over, you will see what a genius he was.

@Seccheus 8 ай бұрын

@@billcurtis7511 the same functions work with IUL.

@firecraig 4 ай бұрын

@@Seccheusnope. Because IUL can have years of zero growth and accounts that go down.

@Seccheus 10 ай бұрын

Save, Capitalize then Invest. 1. What is ment by capitalize? 2. Why can you use the same concept /process with a IULs?!

@TheMoneyAdvantage 10 ай бұрын

Thank you for watching! 1. Paying premiums 2. The bottom line is that IULs carry inherent risks that do not exist in Whole Life, and therefore it is crucial to understand all the risks. We generally prefer the safety and liquidity of our whole life and invest outside of our policies in things that cash flow and that we know and can control. The whole life policy is an emergency/opportunity fund, a place to store cash in between deals. IBC is a different philosophy than those focused on accumulation only and not wanting to be in control. Neither way is wrong. Having said that, our team has and will sell IULs if it makes sense i.e., someone can demonstrate they can and will max fund, they understand the risk, and if the purpose is accumulation, NOT Infinite Banking. Here are a couple of resources that I would recommend to anyone considering purchasing an IUL: 1) kzbin.info/www/bejne/rZuWmWqoiNijmq8 2) kzbin.info/www/bejne/b6ucpqmiZ5iMfpY With an IUL, the insurance company only guarantees a gross earnings rate minimum and the death benefit for a period of time. With Whole Life, the cash value is guaranteed to increase every year by a minimum dollar amount, and the policy is guaranteed to endow. Even if you max fund an IUL, never miss a payment or pay late, and pay the extra fee to guarantee the death benefit to a specific age, you still don't have a guaranteed cash value dollar amount. Whether max funded or minimally funded, a whole life policy still has a guaranteed cash value dollar amount (guaranteed to increase by a minimum dollar amount annually) and a guaranteed death benefit to endowment (typically age 100 or 121). Because a UL does not endow, you can only reduce the death benefit to try to preserve the policy. Because Whole Life endows, you can reduce the death benefit amount, so it is GUARANTEED paid up. Life insurance is not an investment. No matter how you design it, it is still life insurance. In any asset, you can only maximize 1-2 out of the following three things: Safety, Liquidity, and Growth. You have to sacrifice at least 1. IULs sacrifice Safety to get Growth by transferring risk (themoneyadvantage.com/why-you-want-insurance-part-1-transfer-risk/) to the policyholder. * IULs do not have guaranteed premium * IULs do not have guaranteed cash that increases every year all the way to endowment * IULs do not have guaranteed death benefit all the way to endowment * IULs do not endow. Endowment is when the cash value equals the death benefit, and the company pays out the death benefit to the insured Whole life has these guarantees, which is why we use them for Infinite Banking.

@Seccheus 10 ай бұрын

@@TheMoneyAdvantage Endowment? IULs do reach a point where the Cash Value and Death Benefit Equal each other....etc is that not the same?!

@TheMoneyAdvantage 10 ай бұрын

@@Seccheus No they are not the same thing. Life insurance cash value, like home equity, is the portion of the death benefit that you have access to use. It is also known as surrender value, which is the amount the company would give you if you surrendered the policy today. For all whole-life policies, the cash surrender value will equal the death benefit at the age of endowment, usually age 121.

@Seccheus 10 ай бұрын

@@TheMoneyAdvantage that is plan B for an IUL. Cash and DB.

@Seccheus 10 ай бұрын

@@TheMoneyAdvantage how do you get the DB before you die ?

@et8865 6 ай бұрын

No one tells how long you have to have the policy before you can borrow from it

@TheMoneyAdvantage 6 ай бұрын

With the life insurance companies we work with, you can borrow against the policy once your premium payment clears the bank.

@Rew123 5 ай бұрын

The bigger question is how much money do you have to dump into the policy before you have enough CV to then take a meaningfully-sized loan against the CV.

@TheMoneyAdvantage 4 ай бұрын

Define meaningfully-sized. Also need to know how the policy is designed. So, for example, if you pay the 1st year's premium annually and you have 60% of the premium available as cash value, then you can access approximately 60% of the premium you paid that year, and if your 7 years into your policy and have as much or more than you paid in premium in cash value, then you would be able to borrow approximately all of the money you have put into the policy at that point. There is not a cookie cuter answer because there are multiple companies, products and designs of said products.