How Can I Become My Own Banker?

[@jackyanderson9330]

He enlightened us more on the concept of insurance which many people didn't know. Doug Andrew is a genius. I love that.

[@missedfortune]

Thank you!

[@tyrecarmon20]

My CPA sent me your videos a few months ago and I have been binging your content. I also brought your book. I have my IUL set up this year and I am definitely taking advice from your videos and book to use. Thank you!

[@Lrndthehardway]

Hows things going today?

[@mr.elegance6889]

Update?

[@ronldmaurice]

how is things going

[@teddimedicine]

Wow... ..just wow 💯 ....superbly formidable content

[@missedfortune]

Thank you!

[@yolandawrightklosterman5707]

This is amazing. And I am about to start my own bank for myself.

[@MbursaDN]

What happens when the policy holder doesn’t repay the loan?

[@TheDavidt23]

Is this possible to do in the UK?

[@horukulislam6155]

Hi Doug. Can you say what is the similar system in the UK please?

[@robertdoss871]

Oh thanks for the informationi It was helpful I was going to go to sign up with the iul, a couple months, until I realized I would need between five and$ 800 a month to maintain, it so my insurance agent is hooking me up with a debt-free life insurance plan instead. It a close comparison , in which I get to borrow against my own Policy just at a lower rate if return do you recommend it until I can afford the iul

[@aceconsulting.analytics]

Thanks for the update. I will definitely give it a trial. Peterson from Nigeria

[@finanzastv888]

I loved your video Doug. But at minute 9:49, right after explaining the 2% wash out loan, you mention that you want to leave the money there an link it to an index. What exactly is that way of taking a loan called?

[@missedfortune]

That is called either an index loan, variable loan, or an alternate loan.

[@finanzastv888]

@@missedfortune I truly appreciate you taking the time to answer my question. Your videos add so much value. Thank you!

[@Allenballen88]

@@missedfortune thank you for this video! I've been on the fence for awhile about which kind of policy to go with to start my infinite bank. I was wondering with an iul, if you take an index loan against your policy do you still pay index management fees like investing with mutual funds or ETFs, or is that included in the 2% loan interest?

[@sent357]

Thank you Andrew your knowledge has changed my life.

[@missedfortune]

You're welcome!

[@timothywanless1507]

I went to that site and I can't find where I can get the book?

[@missedfortune]

Head over to laserfund.com that should work just great!

[@myeagle_eyes]

Is this applicable in the UK?

[@ThePaciFest]

Amazing! Can we do this in Australia?

[@dirtcheapappliancerepair3724]

Hi, what’s the name of these type of insurance policies and the name is the insurance company

[@irenetubman9449]

Hi you say the money in this type of account the money is transfered over to family. The only thing that transfers is the death benefit. Correct me if I'm wrong

[@kpizzyrizla3066]

@11:20 mins is the gem

[@enmarcanete468]

Praise God For This Great Information Shared By Doug Andrew ...Thank you very much Sir Doug ..God bless you always...

[@missedfortune]

Glad it was helpful!

[@douglasrush5197]

Yeah, but how do I start up my own insurance company?

[@ciroweinstein8627]

You will need An Actuary... Deep pockets or be willing to share the company. In 6 months will become an Actuary Btw...

[@tonyw2167]

The statement that index UL usually earns 10% is questionable, and it does not take into consideration the cost of insurance increase when the policies get older. I’ll stick with my whole life polices for now😊

[@chidong6103]

You may want to ask your WL agent whether he can show you the fees. Also, if you structure properly, COI will be hardly any, as COI is based on the diff between DB and Cash value. Properly structured level IUL will create much more efficient result.

[@arturasstatkus8613]

Thank You,Sir.

[@missedfortune]

You're welcome!

[@SEBAYANI08]

Doug, thank you so much for this content so inspiring! If i may, does this concept work in any other country like Argentina for example, to your knowledge?

[@peterchirico2153]

Andrew How long do you have to have a Laser IUL open before one is able to do this ? Do you need to wait until it is fully funded in 5 years or 4 years and one day ? Thanks for sharing all your knowledge.

[@armandoarroyo6331]

it all depends on how much are you funding your policy with,

[@briancarter2505]

Does this work in an Australian context?

[@porousdumasia3256]

Thank You very much I shall be in touch. This product is not avbl in Nz .

[@it426]

I get the impression this is for individuals with a large amount of capital to play around with? Is there anything for the little guy... say with $10K initial investment? Thank you for the videos!

[@missedfortune]

Hey! If you would like to explore the LASER Fund options, go ahead and schedule a time to speak to an IUL Specialist that we work with here: www.3dimensionalwealth.com/getstarted

[@dus10dnd]

Sure... infinite banking... if that worked, everyone would be doing it. Why would anyone use their earned income ever, then? Just put it all in, and then borrow against it. Heck, Elon Musk would be borrowing against his stock to invest in this. He isn't.

[@josephking6944]

Right. I feel there’s key components missing from the whole concept

[@financetips]

Neva heard of this guy. When did he publish his first book? When did he start

[@missedfortune]

I invite you to visit www.dougandrew.com to learn more.

[@Saad_TheGod]

Thanks

[@missedfortune]

You're welcome!

[@joansullivan4766]

How do you do this if you have health issues

[@porousdumasia3256]

Can u do this if u r non US citizen

[@missedfortune]

Yes, there is a program for non-US citizens. However, not all can qualify for it. Talking to a specialist will be your best bet in finding out if you qualify. If you can't find someone, I can refer you to one here: 3dimensionalwealth.com/getstarted/

[@paulinavazquez6549]

If you have an ITIN yes

[@PaulMycroft-g2d]

Can this be applied in new zealand?

[@scambuster7416]

i'm uninsurable, can i still do infinite banking?

[@gedbookings2328]

How exactly would you still earn either $100k or $50k if the $1000,000 is being used? Wouldn’t any deductions affect the interest totals?

[@USMC-0311]

Hello Doug. Went to your website, your book is no longer at $5.95. Now it’s $9.99 or $19.99 for additional. Any ops?

[@missedfortune]

$5.95 was a pre-2020 pricing. Everything has increased, additionally we ship everything priority mail which costs $7-8 alone. Unfortunately, we had to adjust our pricing away from the $5.95

[@Betterdailyy]

Are you only able to borrow if it’s for your business?

[@Droedin]

If only this was possible in Israel as well... Unfortunately for me, this method doesn't work here since the only insurance policies you can get are the ones like the one I have for Whole Life Policy (Index Universal Policies don't exist here) for 2 Million Israeli Shekels (Which is a bit over half a mil in USD as of the time of writing this comment) and I can't even pay for a bigger one if I wanted to... The only way of doing this in Israel would be if you're self-employed and then you can do the same thing with your Pension but still, much much lower rates and the rates at the banks here for a loan are around %5 (recent change since the end of 2019 for an excuse we all know). Thank you for the information regardless, knowledge is power and I'm sure I'll find a way to put this knowledge to good use in a different way, the concept stays the same even if I change a little in your plan to adjust to the terms of living in Israel. I wonder if this video is still valid after 3 years and if anything has changed since then to adjust it if it's still valid and changes were made in terms of laws or rates adjustments after the whole plandemic...

[@crazybigyo]

Can you help me review my policy, Doug?

[@missedfortune]

I invite you to schedule an appointment with one of the IUL Specialists I work with who can review your policy. Schedule by visiting www.3dimensionalwealth.com/getstarted.

[@olgaesso3220]

Thanks !!!

[@missedfortune]

You're welcome!

[@mercedesbouchard9762]

How much money do you need to start and where do you need to start

[@missedfortune]

Great question Mercedes. You may want to schedule some time with an IUL specialist who can answer more of your questions and even run some examples for you: 3dimensionalwealth.com/getstarted/

[@ramoncortes7685]

That's right you right it's true

[@n_tsilivigos]

Does this exist in Greece?

[@Bunker_dilemma]

Interesting, but don't you need an insurance policy at least for 5 years? And they'll take into consideration your age and the state of your health.

[@EdwardVarner]

So they charge me interest on my money when I take it out to use it... that is the part that doesn't make sense to me.

[@mikecarter6667]

While paying you interest.

[@xejelah]

you earn more interest than you get charged

[@poorinvestor]

Listening with my eyes closed and all I hear is Jim Rohn

[@Nickscichlids]

I like the video and information, but one thing I'm having an issue with is when the time comes to pay the million back to yourself. What am I missing? Thanks

[@isajthereable]

Correction: don’t listen to this guy, he’s dangerous. IUL is completely inappropriate for IBC.

[@missedfortune]

I have several videos that explain so you can see in detail the difference between a whole life policy and a IUL. A whole life policy does not have access to the indexing strategies and therefore is limited on its interest growth potential. It also has less attractive features when accessing your money. It is a good product, but I would rather have a properly structured IUL. When structured correctly it will be cheaper, have much greater growth, and much better features when accessing your money! I also have many videos explaining the loans in the detail you are looking for. Almost all whole life policies will charge you more interest than they credit you when you access the money. Whereas a IUL allows you an to earn more interest than the loan interest thus creating a positive arbitrage in most years! I always warn people if they are looking at a whole life policy, make sure that your agent illustrates you taking money out of the policy. Most avoid doing this as it doesn't show well because the details are now revealed. kzbin.info/www/bejne/hHPOmKesgLJ7rac kzbin.info/www/bejne/mnuueZ1prst9esU

[@isajthereable]

@@missedfortune You open the video by telling people that they can become their own banker, and that is true. Now you are attempting to explain things in the language of an investment. That is not banking. There are many others that attempt to distort IBC with an IUL contract because of the same things that you are talking about. How are these going to look when the person buying the policy is in their 70's and 80's? The truth is that you don't know. Yes you can do a great looking illustration, but do you have history to back it up? I think that these IUL policies are a creation of EF Hutton in the 1980's. I'm only leaving a comment because IBC is a powerful tool that has helped change my family's trajectory upward in a major way. I understand that you are trying to make a living, and I don't want to impede that. However when you discuss the concepts of IBC then switch to an investment, you will deprive some people of what IBC offers. For an honest education about IBC you can read Nelson Nash's book, it might take a day. Also you can visit the Nelson Nash Institute website for more resources.

[@realkoolvg]

@@missedfortune hey doug, how do you take advantage of the multiplier far as the index strategy, mentioned in 11:53 thanks, do you only get the multiplier with an specific company???

[@brandywell44]

Investing in an index, you have to get that decision right.

[@stephengilstrap]

Can you show us some 15 year old IUL policies? The problem with IUL is that the insurance costs go way up in the future and make the policy implode. If you read Nelson Nash's Becoming your own banker, then you would know not to use IUL for infinite banking.

[@missedfortune]

That is incorrect when it is structured correctly like I teach. kzbin.info/www/bejne/ppjFYXyOd8SYetE

[@missedfortune]

Here is a link to the Laser Fund learning group. Here you can find a community of other learners/users, sample statements, etc: facebook.com/groups/laserfundmasterclass

[@manishapatel3937]

Mr Andrew can I work with you ?

[@ChristopherJenkins-hm4ff]

Best insurance companies?

[@elchito.10mjrs]

The power is not for everyone not this power the respect god created is incompatible and the power nobody can equal that so remember

[@470interista]

is this a U.S. thing only?

[@marlonlew5084]

Yes

[@CLOUD.STEPPING]

what happens to the 1M loan that you took out? do you need to pay that back

[@xejelah]

yes, but you can let the interest pay it back

[@blacksmith9451]

Yes

[@Its-38]

Ahhh shame you don’t ship to the UK

[@missedfortune]

You can order the audiobook here: learn.3dimensionalwealth.com/offers/NPD5BMRf

[@siulanainad]

Read The Pirates of Manhattan

[@jeremycrochtiere6317]

Thanks for the suggestion

[@wed265]

Hi Doug Thanks for the videos. May I please call you on the phone to ask you a few questions. What companies would you use where you could get a 25% return in one year. Also what company did you use that averaged 10% over a long period of time? I could turn a lot of people on to you.. again can we please talk on the phone and not have to email back and forth. Ray

[@missedfortune]

Email me your phone number and I will do my best to call you as soon as I can, [e-mail]

[@delilashapaka8104]

Our money gets depleted when we stop withdrawing and depositing.🇳🇦

[@vt6spd]

If I have 20K, how can I start this process to build a real estate portfolio?

[@haveaniceday7950]

I'm wondering this as well. Did you find the answer?

[@abiottditshego1569]

I❤this guy but is it possible in South Africa 🇿🇦? Just imagine how many people will become instant millionaires?

[@wildfootfarms7185]

It don’t make sense. Why not re invest the million you borrowed back into the insurance and then borrow again and repeat 1000 times. That way you make 5 billion a year. Don’t make sense.

[@ianrogers7543]

Definitely something missing in the explanation - if an institution is offering a higher rate on saving than the money it lends out then, as you say, you'd just put the money you borrow back into the savings product and use that again as collateral another loan. Repeat infinitely, generate infinite money! :-) Something very wrong about what this guy is claiming...

[@RussJAlan]

E.F. Hutton? Wasn't it A. L. WILLIAMS??

[@jasonpham80]

Problem is you don't guarantee 10% earn that year you borrow so a little misleading information.

[@paulinavazquez6549]

Sure, the rate of return you get is average 10% on his example. You don't loose money, however, and that's a guarantee. The rate of returns you get in an IUL are still a lot higher than if you were to go to the bank. It's typically less than 1% so cents.

[@realkoolvg]

@@paulinavazquez6549 facts

[@johfu4705]

How to become a millionaire. Write a book about how to become a millionaire!

[@qasmb1546]

"How much more is 50,000 than 10,000 - Its 500% MORE." *No its 400% more.* You are talking about all this stuff yet don't seem to know basic Maths.

[@Tonyroseauthor]

It's 500 lol. 1 x 5 = 5.

[@qasmb1546]

@@Tonyroseauthor Erm yeah 1 x 5 that's a 400% increase not 500%.

[@MultiChrisjb]

your arguing semantics

[@RussJAlan]

2% of 100,000.00 isn't 20,000.00, its 2,000.00

[@tonyotodede2303]

It is only possible in d US n Europe not in Africa guy!!!!!

[@tonyotodede2303]

That can't happening d 3rd world

[@alexm5632]

🤮

[@warcewic]

This is the BIGGEST SCAMMER

[@Hs5687]

Don’t even bother if You are Politically Singled Out & Targeted…

[@RomanMoskva]

Ahahaha I wonder how much his million cash value inside IUL is worth after COVID-19 pandemic 2020. I bet the ROI is still 25% but NEGATIVE. Good luck man, your idea is too risky.

[@fs6668]

Luckily in the LASER fund it’s not in the market itself. Check this video on how it works: kzbin.info/www/bejne/g3ysY4uBp6yFebM Basically it has a floor thank goodness so a -25% in the LASER fund is 0% minus the cost of insurance. Much better than 25% in a volatile market.

[@snellerfinancialservicesll5303]

@@fs6668 lol these people are such idiots

[@dragon1indo162]

Unfortunately this doesn't apply to people who are homeless and dirt poor and has no money to invest in anything not even food to eat so these videos are still for people who are already pretty much set up in life able to go on this type of venture