ONE Change - 1 - Can Change Your Financial LIFE. Feat.

[@CatfishLove]

I am not a wealthy man, 27-year truck driver that did plan for retirement and never learned to manage or save money. With that being said at 62 I own my own home; I purchased it on a 15-year mortgage and paid it off in 7. I do however have a habit of purchasing things I really do not need. I think this is because most of my life I was never able to purchase the things I wanted. This is a habit that I need to break. I WANT TO THANK YOU FOR TAKING THE TIME TO CREATE THE VALUABLE CONTENT ON THIS CHANNEL, YOU ARE A TRUE BLESSING TO ALL THAT WILL APPLY YOUR KNOWLEDGE.

[@alisonhoyte7608]

This is a real problem I find with my clients it really stems from the belief of not having enough, it i simple to break tell yourself aloud I believe I am scared I don;t have enough I break it, in a commanding voice. This changes the brains thinking , you can use this in every situation in many was the I break it really changes thinking patterns by disruption. All the best and you have done very well.

[@VanntasticFinances]

@CatfishLove Thank you so much for being precious!

[@LydiaMoodyinFlorida]

I love this example. I opened a WL policy last year and used it to pay down some debt. I have a little more debt to be free except my mortgage. This is a perfect example of how I can use the policy to work off the debt and set up for the future in retirement.

[@thecat5620]

This was an exceptional video. Wish I had this knowledge during my earning years. Is there an example that would work for someone on lower income/social security?

[@billyray007452]

I was thinking like you Christy. I’m like why put my money in a segregated account. Just do things the velocity way and maybe things will be paid 1-2 year earlier. I’m glad to hear this video. Thank you both

[@bernadinelewis485]

Every reinsurance person should be taught how to help her clients like this cause I tried to find an insurance person. Well, I had an insurance person, but she didn’t know how to help me like this. She just kept telling me you can’t get the money if you get the money, it’s not gonna work.

[@avaraquel]

Happy New Year!

[@waltergrindley712]

Hi Christy, I have been watching your videos for some time and want to get started. I’m 67 and make about 4000 income. Expenses are around 1300 and debt payments are approximately 1600. I owe 55000 on the mortgage but have a lean from a business bankruptcy 10 years ago on the deed for 92000. House value over $350,000.

[@Tfit7]

Look up her information in the show notes above and contact her.

[@eldonocker5875]

Hello Christy, I'm new to your channel, I found it on Christmas day. I've learned of the IBC in 2016, started a policy with a reputable agent. Only wish I had learned of the Velocity banking several yrs prior, but I'm learning about it now even though I've only got $1600 worth of debt to go on 0% interest accts. Am excited to share your videos with my kids and friends. I really appreciate your teachings and concepts. Thank you!

[@WayneWilliams-pq4lx]

Hey Christy, hey Chris - Greetings from Australia. I love your work, like so many others here! Just great. Something that I thought might be useful for you to point out to your viewers that the interest received from a savings account is taxable as income (ie not a 401K, but a cash savings account, at least here in Oz), whereas the interest on a credit card is probably not tax deductible unless it's involved with creating income. Even more of an incentive to get rid of non-deductible debt before trying to build taxable savings.

[@nisa3695]

Thank you again

[@dianelefever3961]

Awesome information

[@boonejm78]

Christy, I love how you help illustrate and educate us on how we can utilize LOC to pay of debt through the velocity banking process. The ultimate LOC for myself is my residence. It has been very difficult for my wife and I to find a lender that offers a 1st Lien HELOC (All-In-One mortgage) product. Can you advise all of us on lenders/brokers/companies that can help us through the process of securing and leveraging this LOC? Thanks

[@VanntasticFinances]

@boonejm78 You can go here for a lender... cmgfinancial.typeform.com/to/RkAUZvu1

[@anniezohar5415]

So what about the loan interest you need to pay back to the insurance company? The insurance company charges you interest on the loan.

[@Nobluffbuff]

There is a big difference between a loan and line of credit in how the interest is calculated. Someone can correct me (I'm learning this stuff also) here, but a LOC is calculated in simple interest compared to a loan which has all of that interest (for the entire length of the loan) front loaded into the payments.

[@Meyou440]

Wow! I am excited, intimidated, and “frozen”. How do I open up a whole life policy? How much do I need to start one? Thank you for sharing this info!

[@exmennonitebanker]

The link is in the description.

[@lornettechuck4981]

Very informative.

[@hails.h9000]

Wish we could do this in Australia

[@dianelefever3961]

So, where do you go to find these specially designed whole life ins. policies?

[@VanntasticFinances]

@diane Learn more here… moneyschoolrei.com/christy

[@debracisneroshhp2827]

Just watched this, thank you for educating us on what is possible with some focus and action. Love,Light, and Blessings. 🙏😇💫✨🌱🌿🌻🐝🌳🐬🌎💖🙌😺

[@VanntasticFinances]

@debra THANKS FOR WATCHING!!

[@GearsToStreet]

Question, what are good whole life insurance companies to use? I'm definitely not sure which to choose.

[@BruceNesmith-n3n]

My question is were can you start a whole life insurance policy

[@sandykay291]

My question as well. And to get a policy you need to have good health to get a policy

[@VanntasticFinances]

Go here to schedule a consultation and learn more... moneyschoolrei.com/christy

[@VanntasticFinances]

@Bruce Go here to learn more and schedule a consultation... moneyschoolrei.com/christy

[@TheAcademicOracle]

I REALLY appreciate all this new banking education and needed it! Does the Vann program, or this man’s program offer any discounted rates to help a single parent working three jobs with over $250k in debt? It’s hard to even get started with such substantial debt… where do you begin????

[@VanntasticFinances]

@TheAcademicOracle You can ENTER TO WIN a spot at the 3-day virtual coming on Thursday... gleam.io/we0XT/vanntastic-3-day-virtual-conference-tickets

[@kenben517]

I love you guys! To God be the Glory!!!

[@gypsyintheforest]

Would be wonderful if there was an app created that did Velocity Banking automatically.

[@lesliemaness999]

This is a great strategy. Im using it as a hedge in addition to byob strategy. 😊 Instead of finding a way to downplay this strategy you meed to figure out a way to implement this strategy! Idk get a heloc, or borrow up to half that money you got sitting in that 401k with no penalties. Then pay yourself back 😊.

[@jayceerenegado8038]

How do you pay off the loans when you take it out of the policy?

[@carmaela2689]

This is what I would like to understand but it wasn't well explained.

[@patrickwilson1808]

So with no savings, take a heloc out, pay the debt off and start a whole life policy with Chris. Pay off the heloc and make policy payments with cashflow left after bills. Did i get that right?

[@laneeypooh-zr9yo]

I have 5 cc's. what order do I start paying them off? lowest to highest? or highest to lowest?

[@sandykay291]

Can you do more examples of the infinite banking concept?

[@sandykay291]

With someone that has an income of like 4500 a month.

[@VanntasticFinances]

@sandy ... We are releasing more videos soon. Stay tuned. OR you could ask his team directly by scheduling a call... moneyschoolrei.com/christy

[@anniezohar5415]

How much is the whole life insurance premium a year that you need to pay?

[@exmennonitebanker]

You choose the amount that you want to put in.

[@teresabowling5190]

Question in regards to HELOC. If a person qualify for 100K HELOC, and owe 65K in debt (car loans, student loans, CC etc - not counting the outstanding mortgage balance). Do you think it better to pay off the entire 65K ( one draw) debt with the HELOC or take on smaller draw of 20K, until the debt is paid down and then take another draw 20K and continue to process until the entire 65K is paid. That is my question - paid off the entire debt with the HELOC or take it on with smaller debt at a time.

[@-vi2ys557]

I’m in the same boat. Following!!

[@Jesus-CAL]

In your shoes opinion. Myself, I would go with the 20K chunks. This gives me peace of mind that I have 80K on the HELOC in case of emergency. If you decide to go with the 65K chunk it works but it'll feel suffocating at some point. The constant 20K chunk makes it feel like light work, because your constantly advancing. In reality up to you. Have a great day.

[@lilymcnabb6621]

I realize HELOCs generally have best rates but paying off unsecured debts with secured debt in this economy is risky. I would look at a personal line of credit and/or use credit card. Same principle but different tool. Depending on how sensitive you are to your credit score you may have to pay attention to your utilization. For most folks the principle remaining on their mortgage is highest debt thus the most savings comes from paying down mortgage. Personally I would pay off the items I could pay off first. That lowers your monthly payments and improves cash flow. Then chunk heavily towards the mortgage. If you put all your $ towards mortgage it is a closed end loan. In bad economies HELOCs are difficult to get. Depending on your specific situation I might split my efforts 50% to mortgage, 50% to other debts. I did this "velocity banking" before it had a name.

[@jaredshowers1]

Not gonna tell you how to do. But maybe run the numbers first of cash flow each month first. Makes no sense to me to do all 65k at once. If it was my circumstance only. Pay 50 to 100 dollars a day to principal from the heloc to the mortgage instead of chunk method. I ran the numbers in my circumstance and it cuts down interest even more thank the chunk strategy. Of course still doing the sweep action. 50 dollars a day is 1500 a month. That interest will chop quickly. Again that for me would work best. But I'm wanting to pay off my 292k mortgage in under 10 years. 4 years into into it. Just learned about velocity. And it's the boss way to get your money working for you. On God!

[@richardhurst8109]

Christy may see this reply and correct me if I'm wrong. In some of her previous videos, she recommends using 30 - 50% of your HELOC/PLOC at a time so that you're not committing yourself to so much to it, and also by doing this, you'll see yourself making progress paying down your debt which will help you stay motivated and committed to doing it. But ultimately, the decision is yours to make. Hope this helps. Good luck.

[@rhoadestraveled]

So he saved 25k then purchased the WL… then borrowed against it, then paid debt, then bought an additional 25k, then borrowed, then paid debt, and repeat. Then at the end he took his 25 K he'd normally buy another 25k WL added the saved 5k principle he was paying and paid 30k a year until those liens were paid back… did I understand correctly?

[@doreenblea207]

Is this possible if you are not able to save anything right now and you're more in the red than the black? Would I have to do some velocity banking to get in the black first?

[@lilymcnabb6621]

You can usually use velocity banking to work yourself out of a smallish negative cash flow situation. I did this years ago before it had a name. Using a credit card, I paid all bills I could with card and just ran all my income to card. It is easier on a line of credit because of fewer limitations. In this economy I would be hesitant to use a HELOC. generally paying off unsecured debt with secured debt is risky, especially if you have negative cash flow.

[@tanalson]

So does this means that you are actually using the death benefit to repay the loan you took from the insurance company?

[@nicolematthews7604]

Great info, but I wish this worked outside of the USA.

[@VanntasticFinances]

@nicole Me too!

[@roxannestone7577]

So when we pay the life insurance back. do we have to pay 205 thousands back??

[@mc3452]

New to all of this but find your videos very interesting and helpful, thank you Christy!!! Question: just got started on getting a HLOC and waiting to close. From what I have learned from your videos Christy I was thinking to … Once I have the HELOC funds it’s enough to pay off ALL my debt (which is A LOT😮)except my mortgages. This will free up the money I was paying monthly which I will be paying my HELOC MIN MONTHLY PLUS more to start paying down my HELOC faster and from my calculations it will take me 4 1/2 years to do so. I have a side business outside of my W2 income that I’m not including in my plan. So my question is should I take my side business income and apply to my HELOC to get paid back down even faster then purchase a WL or use my side business income to purchase a WL ?

[@cindyboyd8469]

Hello! is it hard to qualify for a policy if you have had health issues in the past?

[@VanntasticFinances]

@cindy It depends on health issues

[@MraLLn1]

What are your thoughts on the All-in-One loan from CMG?

[@awake13830]

Aside from a lower interest rate, why is a 401k loan not an alternative to a WL loan? The negative is that you can only borrow 1/2 of the account balance and you can only borrow from yourself once until money is paid back. So if you have one debt of an amount lesser than what you are allowed to borrow, a 401k would work .

[@VanntasticFinances]

@awake Yes, negatives are you can only borrow 1/2 of the account balance UP TO $50K and Yes, you HAVE to pay it back AND the interest rate I see is approximately 8%, AND if I'm not mistaken...You take the loan from your account balance which means it's no longer growing at the full amount? So, that would be an option. Thanks for watching!

[@lesper09]

I want to learn how!! I have an insurance license! I would love to work for this company!! Please how do I find what carriers you work for?

[@dennisworkman7524]

Where do I find SD whole life policies

[@exmennonitebanker]

The link is in the description

[@lauracarreon5378]

How much is the fee that the Infinite insurance company charge on a each policy?

[@VanntasticFinances]

@laura There's not a "fee" that I'm aware of ... it's an insurance product designed for cash value.

[@GOKUBK77]

What percentage did u pay on the loan u took out on the whole life ins ? How much did that cost u . did not say that in your presentation

[@VanntasticFinances]

@GOKUBK I believe he said the rate is currently 5.25%

[@GOKUBK77]

@ so around $ 1300 per year sound about right ?

[@lesliearellano958]

Can you please give a good life insurance company?

[@VanntasticFinances]

@leslie Only certain insurance companies offer dividends…that’s where the team can help you so much .. thanks for watching! moneyschoolrei.com/christy

[@theresaknight1472]

I have $15,000 debit and a $2,500 PLOC where do I start with so little?

[@luckyton3]

So do you repay the loan from the whole life while you are paying down your debt? If not, then when are the loans due? That wasn’t clear to me in the presentation.

[@VanntasticFinances]

@lucky Loans do not have to be repaid, but in this scenario, the chiropractor starts paying back loan in the 6th year

[@jenna.w.9041]

How is he saving the $25000.00 to pay for the WL?

[@jenna.w.9041]

Am i the only one having a difficult time understanding how this works??

[@losfromla1480]

​@@jenna.w.9041you're not, it's complicated. Watch it several times, take notes. Watch other videos explaining the concept.

[@stevelozano9523]

I think the $25k the chiropractor was saving every month, he was putting it into the policy from what I understand monthly. If no payments were made, he would owe his insurance loan back $138,324.00.

[@edwizard62]

ty

[@yannickatekem9290]

Wtf do you mean. This is English

[@cynthiacampbell1283]

Do you have to get a physical to get a policy?

[@VanntasticFinances]

@cynthia YES

[@moonsrayven]

Why would someone have 10k in credit card debt and 25k in savings? That's bad planning from the jump. If you have more cash than you owe stop paying interest on a loan you don't need.

[@sandykay291]

What happens if you can't get a policy because of health problems? I have diabetes. Can I get a policy?

[@VanntasticFinances]

@sandykay291 You can get one on your kids/grandkids (or anyone with an insurable interest) and use it as your own.

[@jaredshowers1]

​@@VanntasticFinancesholy ghost fire

[@sandykay291]

@@VanntasticFinances is that legal?

[@coldesttuna2006]

So if I’m in the middle of not saving, would it be smart for me to open a whole life? I took out a 401k, should I put it in a whole life instead of paying off credit cards?

[@VanntasticFinances]

@coldesttuna GREAT QUESTION! You can ask Chris' team here... moneyschoolrei.com/christy

[@richardhurst8109]

What if a person lives outside of the U.S., can they still do the infinite banking concept? And what is the minimum amount of contribution you have to make to a policy? Thanks.

[@Samuel_Okonoyi]

This is to bring me back here

[@VanntasticFinances]

@richard Great questions! The teams I work with currently cannot write policies outside of the U.S. Minimums are according to individual situations. For a monthly premium amount to be highly effective with forming cash value …10 x your current age is favorable. So if you’re 40 years old, then a $400 per month premium would be effective in the specially designed policy.

[@richardhurst8109]

@VanntasticFinances Thank you, Christy. God bless.

[@jaredshowers1]

​@@richardhurst8109amazing

[@exmennonitebanker]

The link in the description can help in the US and Canada. It's not available in any other countries.

[@Retired4Life]

Is there a policy that offers a Bitcoin valued whole life insurance that we save in Bitcoin and borrow against my own Bitcoin as collateral that earns interest and receives fiat dollars to use? Can a policy be designed with the Asset Bitcoin?

[@carmaela2689]

This didn't make sense. If he is paying 5700 to his loan then how does he have 5700 available to him? You went way too fast.

[@dr.helenw4891]

Love your content! Question: would you suggest credit card consolidation to pay off maxed out credit cards? That current 29% just has me on a chokehold. Total cc is $20k. Interest of loan is 6.4%. My plan is to pay off in 6 months. Or does velocity banking a better way to go?

[@VanntasticFinances]

@dr.helenw I don't think debt consolidation is EVER the way to take. RUINS your credit. Be safe with that. Velocity Banking works if you take time to set up a strategy. Thanks for watching!

[@josesedi4092]

How can those in Canada reach you?

[@VanntasticFinances]

@jose I'm sorry...they don't work outside of the US

[@exmennonitebanker]

​@@VanntasticFinances I've heard Chris Naugle say that it works in Canada and he can hook you up with his partner there.

[@daniellejones8460]

This is not the MMA? This also reflects that the "chiropractor" does not accumulate anymore debt?

[@VanntasticFinances]

@daniellejones No...not MMA. You can learn more here... moneyschoolrei.com/christy

[@AmbriaDavis]

How do you deposit your paycheck to your credit card?

[@Freeejoy]

You have it deposited into bank then move it to CC.

[@jaredshowers1]

You don't/cant do that.

[@henrijeune]

@@jaredshowers1are you well?

[@wsmaga]

I’m wondering if that $5200 is before or after taxes. Also is that the average wage a person takes home.

[@VanntasticFinances]

@wamaga deposits into the policies are after taxes.

[@wsmaga]

@@VanntasticFinancesok so the average person is taking home $5200 a month. For some reason that seems like a lot to me.

[@davidt5776]

Does this work in Australia

[@alisonhoyte7608]

I t would if you had the income and debts like shown .

[@Jenfizzxx]

If we have no savings can we still get a policy

[@VanntasticFinances]

@Jenfizz Yes, they allow monthly payments, but if you have a line of credit you could chunk directly from that, like I do.

[@Dodooccurs]

Concept= a dream, fantasy, not realistic

[@gordonwilson1631]

Great stuff but banks don’t lend out depositors money. All loans are bank credit created out of nothing but the promise to repay with interest. This is now the money supply with cash at about 3% and diminishing. Do your own research to find out where money now comes from.

[@staciestacie3044]

💯

[@herimagallanes9585]

I’m 50 I’m way to old for this My policy would be expensive

[@kiwiburciaga]

I’m 52 years old, I got a policy with a friend, is not that pricey. My policy is 450k and I pay monthly 179. And I have health issues, high cholesterol. Like they said the policy was designed to meet the needs when I departed, my friend told me to get my cholesterol down and they can re- adjust the policy so I can have the cash value.

[@VanntasticFinances]

@herimag I’m 53 and started 4 in the past 2 years.

[@dontfighttheriptide4091]

Two things: 1) should not look at a policy as an expense, but instead as capitalizing an asset… an asset that contractually guarantees access to policy loans - a HELOC depends on bank approval of terms. Infinite banking allows for the same process value of Velocity Banking, but with certainty that the terms are in your control. 2) I started my first policy at 55, after several years of performing velocity banking. The delta in the cost of underlying insurance does not detract significantly from the capitalizing of cash value. If in doubt, at least lock in a convertible term policy to allow yourself to implement in the future while mulling the concept over.

[@itsachampagnelife6591]

I don’t know. Is it just me?I’m royally confused 😵‍💫

[@alisonhoyte7608]

it takes a bit of time to process the concepts. Practise to get comfortable with what they are saying I was the same.

[@MrBuckeye63]

❤

[@xtremehostilews6769]

Save yourself 45 minutes. Anything with interest pay it off. Do not hold a balance that has interest that will cost you to pay more money. Never do payment plans.

[@timburton1715]

Easy to say... hard to do when LIFE hits you with unexpected expenses like MEDICAL/HOSPITAL... Sometimes One has to do things they would prefer not to do... the THING is to do it SMART... and some people have never been instructed on how to manage [Their] money 💰

[@xtremehostilews6769]

@timburton1715 i agree and understand your view

[@tabormiston179]

Can you give some of the best Whole life company to go with?

[@VanntasticFinances]

@tabor You can ask Chris' team... moneyschoolrei.com/christy

[@LP-MeAndMyShadow]

Yeah, but if a person takes money out of investment funds, they ard paying capital gains tax.

[@VanntasticFinances]

@LP Loans are not taxed and this isn’t an “investment fund”.

[@LP-MeAndMyShadow]

@VanntasticFinances , okay, but if a person takes money out of an IRA because the interest is less that what the CCards take, there is capital gains tax, correct?

[@LP-MeAndMyShadow]

@VanntasticFinances I understand, but if a person wants to pay off their high interest ccards with ira money, they will be charged withdrawal fees and taxes. Even if the ira earns less than ccards.

[@richarddavis9558]

@@LP-MeAndMyShadow You are taking a loan against the policy. NOT a withdrawal 🙂

[@stevelozano9523]

​@@LP-MeAndMyShadowtaxes & penalties would have to be paid if you withdraw from your IRA, 401k or such investment accounts (if pre-taxed) if under 59½ (I think) and taxed older, but you don't want to do this which is why they were talking about getting a loan from this type of life insurance which is tax free.

[@hodlerguy]

so basically since the FED has been decreasing rates, then I assume there is no point in saving my money. Just put it toward more debt.

[@Jesus-CAL]

Actually, that's what you should of been doing to begin with. That's why savers are losers.

[@endlessness80]

This guy is using a whole lot of words to explain a whole lot of nothing. Unless he’s just ‘common sense’ man. I like your videos and I am successfully using your advice but will skip his episodes.

[@VanntasticFinances]

@endlessness80 I'm sorry you feel that way. I think he is THE BEST Infinite Banking teacher I have personally ever heard. Thanks for watching...

[@ellerybice3787]

🫵🏻 Save even more BIG $.00, build your own caskets 😱 for those passer-on's and grow your very own flowers. 💪🏻