There two things I love here: 1.) You took your time, and made it practical. 2.) You inspired me I love my people ✊🏿. Respect to you guys and I wish you much prosperity
I love how you broke it down with a spreadsheet and showed how you can save on interest and recapture all that money you would've paid to the creditors! Amazing stuff!
Sorry to be off topic but does anyone know a way to log back into an instagram account..? I stupidly forgot the account password. I would appreciate any help you can offer me
OMG and we've been sitting on THREE 5.75% interest rates whole life ins policies for YEARS since we got it almost 10yrs ago... this together with velocity banking could save us THOUSANDS. binging your channel now LOL. I NEED this spreadsheet LOL.
I'm curious if you were able to use your policies in this manner. From what I've seen on several videos, the whole life policy has to be designed a certain way, at least that's what several UA-camrs have mentioned, not sure if they're exaggerating or if there really is a specific way the policies have to be structured. I'm looking into getting whole life and drop my universal life, since apparently you can only do this with whole life policies.
Talk about synchronicity.. I just learned about whole life insurance a week ago, been doing deep research since, and the day I start mine… I come across this video that just validated my “game plan” of putting my savings into it and continuing that and only borrowing from it from here on out! Wow! Thanks for the great vid!
I have better understanding of what you meant by paying yourself interest after watching this episode. I will like to start infinite banking and would like to use you guys, but it's been difficult securing an appointment with you guys ( i watched the webinar) but when it got to the calendar there was no available date for this year to interact with you guys.
2 intelligent black people together. I love it. I accidentally got whole life insurance but I am thinking about creating another policy which maximizes cash value. I use still have a pretty decent cash value after 6 yrs but I could of had a lot more. I use my cash value for investments. i think that instead of putting the equivalent of credit card payments into a checking account you should increase your life insurance policy. Otherwise you are losing the compound interest you could have been receiving.
Take ownership of your finances, watch our FREE masterclass, here: bit.ly/WealthNationMasterclass ⚠ WARNING: There are many fake accounts impersonating us. We will NEVER ask you to contact us through UA-cam comments or WhatsApp. Our comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using our name and picture!⚠
What a beautiful couple you are! I love your videos and how you share financial education. Thank you! I am excited to start my own infinite banking journey up here in Canada.
I really like the way you broke that down and will do this now. I have to learn more ad to how to do this. And I love the saying own your own life style or someone else will.
Nice video and everything you shared is accurate. My only concern is timing. After you first bought your whole life policy when did you start taking loans from it? Life insurance is a long term vehicle here. And it’s best to let your cash value accumulate over 15 to 20 years before taking loans and/or withdrawals otherwise the policy could potentially lapse depending on how much is being taken out. You also didn’t discuss surrender charges on the life insurance policies. Most companies have them for at least the first 10 years of the policy. While I do agree anyone can use a permanent life insurance policy (whether it’s whole life or universal life) as their own personal bank but there needs to be more education around loans and withdrawals of said policies. Also keep in mind every life insurance company works differently. Finding a good one is key.
@@sunnyboyfarm Would you mind explaining further? I know it all depends on the premium, how much you initially out in, how it's written, etc. Would you mind throwing figures(numbers) out there as an example to show how your situation worked out?
Great video guys! Was thinking the same question Rodolfo posted about the principal of the l$5,456 loan you borrowed from your policy. I see you paid back the interest of $290 but when did you guys pay back the principal? I also understand you can choose not to pay it back and it will just be deducted from the cash value or death benefit. But based on designing your policy for high cash value, I'm assuming you guys did pay it back right? Thanks.
I really wanted to be able to see the detail in the spreadsheet but it's blurry when I zoom in. Is there a place I can see it even as a jpg or pdf? Looks fantastic!
I enjoyed this video about taking care of your finances. Two of you are magnificent, but l enjoy the teaching of the guy most. The guy can teach babies how to control their fund .His explanations are very easy to understand while the lady equally good though her teachings is for those underduates. Keep the good job guys.
I saw where you paid the interest back but didn’t catch when you started paying the loan back. Thank you guys. I love your videos but just got confused on that one thing
Just when I think these folks have given me ENOUGH INFORMATION here they come AGAIN!! Or I find another one of their videos and its back to CLASS... POWER COUPLE MOVING AS ONE AND SHARING valuable information that would cost otherwise!! How can I contact you all regarding Whole life policies with high cash values?
Great Video! 1 question, did you borrow from the original $10k policy every year, or did you purchase an additional $10k policy every year? Look forward to your answer thank you!
So why would you not put the money from the paid off cards back into the policy? It was my understanding of IBC you are to direct that money back into the policy to capitalize on the additional cash and interest to compound in the policy. By leaving it in a separate savings account, it’s not growing. Let me know if I am missing something. Love your guys videos.
Hi Albert! Great question! Our money in the policy grows regardless if there is an outstanding loan. Loans do not effect policy growth. If we pay the loan back we would have to get another loan in a few months. The separate account is used for liquidity to more aggressively payoff other debt during the year without having to get multiple loans from the insurance company. The growth in the policy is a nice perk, redirecting those principle and interest payments back to our segregated account was the play.
@@WealthNation I had the same question thanks for clarifying. So basically you would put those extra funds in a separate checking account to pay bills later instead of using that money to pay back your loan to the whole life since you’re still continuing to pay the annual $10k contribution that includes the paid up addition/overfund, correct? That $10k basically keeps the whole life account in force and growing right?
Ok im lost here so when u pay on ur loans how does it go back into another account of yours would it not just be paying the credit that u owe how does the payment go to another qccount
@@bradmutschler4697 They lay themselves back into their whole life insurance cash value plan with the same (or more) interest that they would have had in their credit card, monthly. They are only paying principle to the bank, then paying themselves back that principle (over time) with interest. They explain this through many of their videos over the last few years
Wait, so you're taking out a loan each year from the same $10,000 policy? Or are you taking out a new $10,000 each year and taking out a loan from each separate one each year? I'm also not sure if I missed it, but at what point were you paying back the loan?
enjoyed the video and subscribed. my observation would be or rather a different scenario why not have a pua rider and place your private checking acct money in that, therefore your cash balance would increase more and earn compounded intrest on it also.
You may get 4% interest but if you want to pull it out in a non loan form it is taxed a second time? Right? Someone please explain? So basically unless you’re doing loans etc etc it is worthless bc you can use that money except as leverage.
I am not understanding how you can get a policy for $10,000 and the get that amount of loan that early. Also, as a good money manager why is your interest rate on your credit card this high? How are you building cash value with this rapidity? What is the interest rate on loan from your policy?
I get the whole borrowing from your life insurance but when you said paying yourself back that's where I got very confused. I'm very new to this so I really more explanation on how you accomplish that. I even tried to go back and listen again and still didn't get it. Please help
this was a great video! btw when do you start paying back the $5,456 and the $5,538 etc..?? I saw that you payed the interest every year but when do you pay the actual loans back? (they add up to $27,320 over 4 years!)
Hi Miss Telly- we have a few videos on this topic. Check them out- ua-cam.com/video/vJBfxhIx8WA/v-deo.html ua-cam.com/video/wg0EyAqWvUw/v-deo.html ua-cam.com/video/36nGRQKDeTM/v-deo.html
I didn't see where the 4% interest was accumulating in this example. What was their total accessible cash value after those four years? I saw 40k in deposits to the policy and snowball payments to debts, but why not just pay the lump sum of 10k right off the bat and avoid the interest on those smaller debts right away. Why save 10k ($833 a month) throughout the next year only to dump that into the policy when they could have just used that $833 a month towards debt every single month?
There is no impact. You are taking a loan from your own policy - no credit check and it doesn't go on your credit report. It's an internal transaction within your own personal economy. Hope that helps.
The spreadsheet really helps us stay focused on our goals. Every client we work with has one custom created for what they want to accomplish with their banking system.
I understand I buy whole life w/cash benefit. I get paid dividends on it. Now I borrow money based on my cash value. Now my basic understanding of accounting is 10k in whole life cash - 10k in whole life loan = zero , You are just juggling the debt from one hand (credit card co) to the other...that being the whole life policy loan. For that privilege you still pay interest on the loan from the whole life policy. It's not an asset in reality anymore in your whole life policy as you have an outstanding loan. Now I also understand that my net interest rate on the loan in the end is the spread between the loan rate and the dividend rate. So I guess in the end you are in effect just lowering your interest rate on your loans to the spread between the dividends and the loan rate. And I guess that would be way lower than the 24% interest rate.
Why out what you saved into your checking account to get $1,xxx (couldn’t read it because to small on mobile) vs just paying that to chase? You’d paid down that card a lot more faster.... Im interested in the life insurance but my biggest debt is my car at 2.99% I’ll have that paid off in 6 months or so.
Hey you guys!! I have a question. I just watched a video on business credit cards. It seems to work like the whole life insurance. What do you think about that?
Hey how are you guys. Just wondering if the money you make from your employer , is that directly deposited into your life insurance policy. Meaning does the whole life insurance handle all your banking? You guys keep saying saving account so im thinking that your using a bank to put your savings into. Great info though just a little confused.
I'm just wondering why you put the money you were saving in that other chequing account over the year. Why didn't you use it to start paying off some of the other loans right away?
✍🏾 Are you ready to Start a Policy? Complete our new client application.
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There two things I love here:
1.) You took your time, and made it practical.
2.) You inspired me
I love my people ✊🏿. Respect to you guys and I wish you much prosperity
I love how you broke it down with a spreadsheet and showed how you can save on interest and recapture all that money you would've paid to the creditors! Amazing stuff!
So happy we could help😁
Sorry to be off topic but does anyone know a way to log back into an instagram account..?
I stupidly forgot the account password. I would appreciate any help you can offer me
OMG and we've been sitting on THREE 5.75% interest rates whole life ins policies for YEARS since we got it almost 10yrs ago... this together with velocity banking could save us THOUSANDS. binging your channel now LOL. I NEED this spreadsheet LOL.
I'm curious if you were able to use your policies in this manner. From what I've seen on several videos, the whole life policy has to be designed a certain way, at least that's what several UA-camrs have mentioned, not sure if they're exaggerating or if there really is a specific way the policies have to be structured.
I'm looking into getting whole life and drop my universal life, since apparently you can only do this with whole life policies.
Omg how am i just seeing this ! about to binge watch them all !!! LOL
Yes girl, great info!
😂😂😂
Talk about synchronicity.. I just learned about whole life insurance a week ago, been doing deep research since, and the day I start mine… I come across this video that just validated my “game plan” of putting my savings into it and continuing that and only borrowing from it from here on out! Wow! Thanks for the great vid!
I finally get it! Thanks so much for that spreadsheet. ❤
Thanks for watching! My TEL is broken
down into 3 sections. +I(701), then 610,
finally 6144. I'm expecting your Whtspp chat
Let's gooo 🎉
I LOVE THIS! More people need to know about this method. Let's continue to share this valuable information!
This is amazing!
Now I have to explain this to my wife to get on board and try to get my kids in whole life insurance after we pay our debts.
I have better understanding of what you meant by paying yourself interest after watching this episode. I will like to start infinite banking and would like to use you guys, but it's been difficult securing an appointment with you guys ( i watched the webinar) but when it got to the calendar there was no available date for this year to interact with you guys.
2 intelligent black people together. I love it. I accidentally got whole life insurance but I am thinking about creating another policy which maximizes cash value. I use still have a pretty decent cash value after 6 yrs but I could of had a lot more. I use my cash value for investments. i think that instead of putting the equivalent of credit card payments into a checking account you should increase your life insurance policy. Otherwise you are losing the compound interest you could have been receiving.
Take ownership of your finances, watch our FREE masterclass, here: bit.ly/WealthNationMasterclass
⚠ WARNING: There are many fake accounts impersonating us. We will NEVER ask you to contact us through UA-cam comments or WhatsApp. Our comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using our name and picture!⚠
Ima sign up with yall i been looking glad to see u guys
I filled out the application to become a client and I order the infinite banking concept book from Amazon
Are you on a wait list?
What a beautiful couple you are! I love your videos and how you share financial education. Thank you! I am excited to start my own infinite banking journey up here in Canada.
Do you have a template or spreadsheet we can work off of to try wealth capturing interest ourselves?
I really like the way you broke that down and will do this now. I have to learn more ad to how to do this. And I love the saying own your own life style or someone else will.
Nice video and everything you shared is accurate. My only concern is timing. After you first bought your whole life policy when did you start taking loans from it? Life insurance is a long term vehicle here. And it’s best to let your cash value accumulate over 15 to 20 years before taking loans and/or withdrawals otherwise the policy could potentially lapse depending on how much is being taken out. You also didn’t discuss surrender charges on the life insurance policies. Most companies have them for at least the first 10 years of the policy. While I do agree anyone can use a permanent life insurance policy (whether it’s whole life or universal life) as their own personal bank but there needs to be more education around loans and withdrawals of said policies. Also keep in mind every life insurance company works differently. Finding a good one is key.
Wish someone would’ve answered this question
@@ArtisticallyAspiring I was able have access within a month after underwriting
@@sunnyboyfarm Would you mind explaining further? I know it all depends on the premium, how much you initially out in, how it's written, etc. Would you mind throwing figures(numbers) out there as an example to show how your situation worked out?
TY! Finally some good examples.
Great video guys! Was thinking the same question Rodolfo posted about the principal of the l$5,456 loan you borrowed from your policy. I see you paid back the interest of $290 but when did you guys pay back the principal? I also understand you can choose not to pay it back and it will just be deducted from the cash value or death benefit. But based on designing your policy for high cash value, I'm assuming you guys did pay it back right? Thanks.
I need help! Having ONLY a mortgage as debt, how would/could this be used towards that debt? Can it be used in that way?
I really wanted to be able to see the detail in the spreadsheet but it's blurry when I zoom in. Is there a place I can see it even as a jpg or pdf? Looks fantastic!
Brilliant!! Plus you two are a beautiful and smart couple! Love it!
I was scanning the web trying to look for another way to make money and I found you. I am glad that I did!
Hi, So what whole life insurance policy do you recommend?
I enjoyed this video about taking care of your finances. Two of you are magnificent, but l enjoy the teaching of the guy most. The guy can teach babies how to control their fund .His explanations are very easy to understand while the lady equally good though her teachings is for those underduates. Keep the good job guys.
WOW. The spreadsheet is superb.
I saw where you paid the interest back but didn’t catch when you started paying the loan back. Thank you guys. I love your videos but just got confused on that one thing
You guys are the best!
Just when I think these folks have given me ENOUGH INFORMATION here they come AGAIN!! Or I find another one of their videos and its back to CLASS... POWER COUPLE MOVING AS ONE AND SHARING valuable information that would cost otherwise!! How can I contact you all regarding Whole life policies with high cash values?
Thanks for your video,I just wanted to know if you can recommend any good whole life insurance company to me.
Thank you.
Great Video! 1 question, did you borrow from the original $10k policy every year, or did you purchase an additional $10k policy every year? Look forward to your answer thank you!
Thanks for watching! My TEL is broken
down into 3 sections. +I(701), then 610,
finally 6144. I'm expecting your Whtspp chat
Let's gooo 🎉
You guys are sooo awesome and inspiring!!
Very straightforward...thanks!
Dope information. Do you recommend a company to purchase the whole life policy through?
Very informative video. Thanks
Thanks, Great information.
Thanks for watching! My TEL is broken
down into 3 sections. +I(701), then 610,
finally 6144. I'm expecting your Whtspp chat
Let's gooo 🎉
Great information! What are some good whole life insurance companies do you recommend?
My question is how much of a policy do you start with?
Very good question
Where do I get the whole life policy ?
Nice video! Thanks for the break down
If I am interested in getting my life insurance license (again) to do what you are doing. How am I able to talk with you more about it?
That’s great, but at what point do you pay the loan from the policy back?
So why would you not put the money from the paid off cards back into the policy? It was my understanding of IBC you are to direct that money back into the policy to capitalize on the additional cash and interest to compound in the policy. By leaving it in a separate savings account, it’s not growing. Let me know if I am missing something. Love your guys videos.
Hi Albert! Great question! Our money in the policy grows regardless if there is an outstanding loan. Loans do not effect policy growth. If we pay the loan back we would have to get another loan in a few months. The separate account is used for liquidity to more aggressively payoff other debt during the year without having to get multiple loans from the insurance company. The growth in the policy is a nice perk, redirecting those principle and interest payments back to our segregated account was the play.
@@WealthNation I had the same question thanks for clarifying. So basically you would put those extra funds in a separate checking account to pay bills later instead of using that money to pay back your loan to the whole life since you’re still continuing to pay the annual $10k contribution that includes the paid up addition/overfund, correct? That $10k basically keeps the whole life account in force and growing right?
Ok im lost here so when u pay on ur loans how does it go back into another account of yours would it not just be paying the credit that u owe how does the payment go to another qccount
@@bradmutschler4697 They lay themselves back into their whole life insurance cash value plan with the same (or more) interest that they would have had in their credit card, monthly. They are only paying principle to the bank, then paying themselves back that principle (over time) with interest. They explain this through many of their videos over the last few years
Wait, so you're taking out a loan each year from the same $10,000 policy? Or are you taking out a new $10,000 each year and taking out a loan from each separate one each year? I'm also not sure if I missed it, but at what point were you paying back the loan?
Love this idea how can i get a whole life policy
Could you drop a link to your website I’d like to schedule a call
Hi, Great video. How can you help me with the infinite banking concept?
Hi are this principles transferred to the UK systems?
So where does the 4% compound interest go to your policy amount or the cash value? And what are you borrowing from the cash value or the policy.
How much did you have to put into the policy to access the $8500?
The question i have, if you have 10k to get a whole life policy you could have just paid off the credit cards to begin with
I was told TERM was good too
so you can just pay the interest and not worry about paying the principal back thats crazy cool. How long do you get to pay back the principal?
@@WealthNation Yes thanks, how can we find out more about this?
Hi there. Would it be wise to just dump your pay check into the policy?
Hi Carmen and Darius. I met you here in Phoenix a couple of years ago. Do you have any classes coming up?
Wealth Nation yes!!
Hello and thank you
I am a middle aged woman in the UK
What the minimum I can start on life insurance policy please
I am a public servant
Thanks 🙏🏾
This is great! How can I get a policy like this? Please let me know!
How should I reach you guys about an insurrance policy?
wise words own your own lifestyle or someone else will. that really happens
enjoyed the video and subscribed.
my observation would be or rather a different scenario why not have a pua rider and place your private checking acct money in that, therefore your cash balance would increase more and earn compounded intrest on it also.
Sounds to me like they're "stealing the peas" if they aren't doing this.
You may get 4% interest but if you want to pull it out in a non loan form it is taxed a second time? Right? Someone please explain? So basically unless you’re doing loans etc etc it is worthless bc you can use that money except as leverage.
I am not understanding how you can get a policy for $10,000 and the get that amount of loan that early. Also, as a good money manager why is your interest rate on your credit card this high? How are you building cash value with this rapidity? What is the interest rate on loan from your policy?
What's the name of the insurance
Can we do this outside US ? Say Europe like Spain, France... thanks
I get the whole borrowing from your life insurance but when you said paying yourself back that's where I got very confused. I'm very new to this so I really more explanation on how you accomplish that. I even tried to go back and listen again and still didn't get it. Please help
My question is did you guys stop using the credit cards permanently?
How can I get in contact with y’all. I am 23 and obsess with finical freedom
to get ahead with the numbers, where can I get this spreadsheet?
So you are recommending a Whole Life policy over an Indexed Universal Life Policy?
this was a great video! btw when do you start paying back the $5,456 and the $5,538 etc..?? I saw that you payed the interest every year but when do you pay the actual loans back? (they add up to $27,320 over 4 years!)
Hi Miss Telly- we have a few videos on this topic. Check them out- ua-cam.com/video/vJBfxhIx8WA/v-deo.html
ua-cam.com/video/wg0EyAqWvUw/v-deo.html
ua-cam.com/video/36nGRQKDeTM/v-deo.html
When do you pay the principle back to the policy, maybe I missed it?
Same for me...I missed it.
Can you send ur link for infinite banking thx
I didn't see where the 4% interest was accumulating in this example. What was their total accessible cash value after those four years? I saw 40k in deposits to the policy and snowball payments to debts, but why not just pay the lump sum of 10k right off the bat and avoid the interest on those smaller debts right away. Why save 10k ($833 a month) throughout the next year only to dump that into the policy when they could have just used that $833 a month towards debt every single month?
You look great ,beautiful ,
Thank you for sharing .
May God bless you.
Does this work in other countries like South Africa?
Hi. You may have covered this, however, how does the idea of taking out loans effect your credit score?
There is no impact. You are taking a loan from your own policy - no credit check and it doesn't go on your credit report. It's an internal transaction within your own personal economy. Hope that helps.
I need policy
How will this work with with ssi resipiance?
I believe the money you borrow against the policy is called a surrender note, correct me if I am wrong. But Good stuff nevertheless!!!
How do i get a quote ?
So the 208 went to the separate checking account or back to insurance 5k insurance payment? Did you continue to pay for 56 months ?
Thanks for watching! My TEL is broken
down into 3 sections. +I(701), then 610,
finally 6144. I'm expecting your Whtspp chat
Let's gooo 🎉
Where can we get one of those spreadsheets!?! It looks awesome!
The spreadsheet really helps us stay focused on our goals. Every client we work with has one custom created for what they want to accomplish with their banking system.
Also, did you guys have to pay the $10k upfront in order to have $5k available to take out?
Can you help me design a policy for my sun?
What if you just do not take a loan/credit? No loan, no interest.
Thanks for watching! My TEL is broken
down into 3 sections. +I(701), then 610,
finally 6144. I'm expecting your Whtspp chat
Let's gooo 🎉
I understand I buy whole life w/cash benefit. I get paid dividends on it. Now I borrow money based on my cash value. Now my basic understanding of accounting is 10k in whole life cash - 10k in whole life loan = zero , You are just juggling the debt from one hand (credit card co) to the other...that being the whole life policy loan. For that privilege you still pay interest on the loan from the whole life policy. It's not an asset in reality anymore in your whole life policy as you have an outstanding loan. Now I also understand that my net interest rate on the loan in the end is the spread between the loan rate and the dividend rate. So I guess in the end you are in effect just lowering your interest rate on your loans to the spread between the dividends and the loan rate. And I guess that would be way lower than the 24% interest rate.
Yes. Hence the infinite application, because eventually the policy will become self funded
Why out what you saved into your checking account to get $1,xxx (couldn’t read it because to small on mobile) vs just paying that to chase? You’d paid down that card a lot more faster.... Im interested in the life insurance but my biggest debt is my car at 2.99% I’ll have that paid off in 6 months or so.
Hey you guys!! I have a question. I just watched a video on business credit cards. It seems to work like the whole life insurance. What do you think about that?
I don't have a policy can u help me
Hey how are you guys. Just wondering if the money you make from your employer , is that directly deposited into your life insurance policy. Meaning does the whole life insurance handle all your banking? You guys keep saying saving account so im thinking that your using a bank to put your savings into. Great info though just a little confused.
What company do you use for whole life
Whats the MEC limit on that policy?
How long do you make payments on the premium
great videos! One question. If you take a policy loan out and pay it within the same year, do you pay interest on the months you had the money?
yes
How much life insurance are you supposed to get for this to work.?
I'm just wondering why you put the money you were saving in that other chequing account over the year. Why didn't you use it to start paying off some of the other loans right away?
Can I do this with an IUL?
Excellent
Are you guys using a Private Placement Life Insurance product?