Most valuable tip in this video: "There is always an interest cost. You either forfeit the right to _earn_ interest when you pay cash, or you pay interest _to_ a bank when you borrow. "
This sounds similar to the 'Bank on Yourself Revolution' book by Pamela Yellen. Can you compare and contrast both concepts and conclude which is better for the individual and their family? Thank you for the awesome content!
I have to say I agree with you Marie. Too many terms thrown around. A simple spreadsheet with basic columns and definitions would help. Also, we all understand that everyone out there wants our money, Garrett sounds sincere however this type of video does not make one close out their accounts and 401Ks and sign up with him. In other words, I can withdraw excess money and store it at home today. Why do I need help with this?
Crypto can and will decrease, whereas your whole life insurance policy will have a minimum guarantee that you will never drop below. Crypto is highly volatile, your money can disappear in the blink of an eye, it is not recommended for banking.
The cash flow banking and buying your networth bit was really confusing. Its basically buying life insurance policies and then borrowing against them each time you need it then pay back at higher interest rates.
TC, if this video is confusing, then you are way ahead of the people who are mistakenly think they understand it. The entire "Infinite BAnking" pitch is a marketing ploy. Its intent is to first confuse, then mislead people who are not trained to think for themselves and who lack adequate financial education. -- the purpose of which is to sell a very high cost product.
@@charlesbrown9213 It’s not confusing. If you FULLY fund a whole life insurance policy you can borrow against that policy (tax free loan) and invest into an asset such as Stocks, Options, Dividend Paying Stocks, Crypto, NFT, Art, Real Estate, etc. Anything that will pay the monthly loan amount. When it’s paid off, rinse and repeat. I agree, if you pay monthly payments to fund a whole life insurance policy that you could pay upfront commissions for a long time (depending how it’s designed) before realizing any cash benefit. “FULLY FUNDED, is the way to go.
But whilst you building cash up and the banks fail thennu have nothing. Right now the world is more than upside-down doctors used to becdoctors, jobs used to be easily available, ships blocked from offloading . . Banks ?
@@corvetteenthusiast5163 I’ve read everyday about this topic for probably 3 years. Posted on many forums. There is an overwhelming consensus, that people believe you sign up for a 500k death benefit, pay 100 a month, and then they call it a scam. They are not grasping like you said, to max fund as fast as possible and punch your ticket on the ride.
Nobody ever tells you what is the cost of borrowing money from the insurance company using the cash value of your policy, I wonder why ? If you know please tell me
Meh you said your book, which I'm sure is one big infomercial for your products and consulation, was free. Went to the website and it's $3 to $6. Can't start a relationship with a lie, even a $6 one. Sucks too I was really interested in this.
The free version is at wealthfactory.com/megakit, the other one was free for a limited time. One of the books has plenty of promotion to strategies, but to a firm I don’t own. The other was my first book and I didn’t do well enough with marketing on that one.......so not just a pitch like you say.
I have a 20,000 life insurance policy plus a 5,000 rider that I started 12 yrs ago for nephew with Globe. Can this policy be restructured? If not what is a possible option?
How much on average is the payment per month into the overfunded life insurance? Also on average how long does it take to build that money to withdraw?
Really depends on how much death benefit you have. My first policy was 50 bucks a month, but I didn’t overfund it. The second was 262 dollars per month and 160 dollars of it was overfunded. Age and amount of death benefit is key for the amount of premium required and how much you can overfund. The people at cashflowbanking.com can run illustrations and demonstrate.
I currently live in the UK. If I flew over to the US to set up the Cash Flow Banking account, could still access ALL the features readily whilst living in the UK?
If you’re getting 6 percent on the cash flow account and you take out some cash you pay four percent to the system - they are still paying you the interest (the difference) at 2 percent (better than most banks)
What happens when the assets the insurance companies purchase and use to either provide your death benefit or the interest yield on your cash value account drop in value? I’m assuming these cash value accounts aren’t FDIC insured right...
you are offering a free book but charging for it... bad form there... I am interested in the book but won't' pay for it when you say it is free and the download is on you but then charge for the download
If you borrow from a policy, do you have to pay it back? Why not just build a cash reserve in a bond fund, then take your money when you need it? Why put your money in something that would have to pay back? I don't like loans from 401ks either. To me, it would be better to just take the money and buy a card and owe no one, then restock your reserves rather than buy products with fees and limitations.
Train for Longevity the dividend whole life policy’s pay a death benefit. No bank account pays a death benefit. I am getting a whole life in the next month.
@@SmithFam2323 but your money is locked up and if you don't repay the loan, you forfeit that benefit anyway. Repayment risk is high with these policies, especially if you borrow a large sum. It isn't risk free or appropriate for most... My opinion
@@SmithFam2323 Before you do you might want to look at the other side of the argument.........www.whitecoatinvestor.com/debunking-the-myths-of-whole-life-insurance/
Train for Longevity I think you missed a lot of content Garrett covered in this video. I encourage you to listen again, get the book offered (I bought it a year ago & it's phenomenal!), and then connect with some professionals who understand this fully. If you don't want to utilize the folks at the website he gave out at the end of the video, definitely research this topic fully (also called infinity banking by some, "the rich man's Roth," and the "laser fund," among other terms, so you can reference those terms as well for more insights) and thoroughly research anyone you do reach out to regarding whole life insurance and other wealth-creating products and methods. Garrett is one of the smartest, most knowledgeable peeps I have come across on this topic, and when I first stumbled upon him I was skeptical of him...& everyone else talking about money & wealth--simply because I DIDN'T know about this stuff! If we live in fear that someone is trying to take advantage of or swindle us at all times, then we work hard to create that very scenario. And if we are willing to acknowledge what we don't yet know or understand clearly, ask lots of questions, research something sans judgments or points of view about it, live in a state of question & awareness, then we open ourselves up to receiving whatever it is we seek. When we operate from judgment, conclusion, point of view, we completely cut off our awareness and our receiving, and we can ONLY have or find or receive that which we've decided or concluded is "the way things are." Applies to every aspect of life! Perhaps you've noticed there is ZERO wealth creation education in our education systems. So I dunno about you, but I figured maaaaaaaybe someone who has amassed wealth for himself, his family, and thousands of clients since he was 19 (& he openly speaks of a course correction and going to his early clients to tell them he got it wrong & show them better alternatives, such as what he now calls cash flow banking), well, just maybe he does possess solid knowledge that's worth listening to for our own information and educational purposes. I'm certainly not gonna take financial advice from anyone telling me to "save more," cut back more, and stuff more in a 401K or other IRA (especially anything tax-deferred! Anyone who suggests such CAN'T DO BASIC MATHS!). You cannot scrimp & shrink your way to wealth. It requires expansion and investments, and Garrett is one of the first financial guys I've encountered who acknowledge such, and use such languaging (which got my attention, because that's MY languaging!), and gives away so many keys to the kingdom. There are charlatans in any field or type of business. And there are genuine, generous individuals who truly care about their clientele and the people they can serve. Focus on the latter, the real deal, and it's easy to pick out the counterfeits and avoid them. In all my experiences with Garrett & his work over the past few years, he has proven himself over and over again to be authentic and genuinely care about making financial information accessible to any willing to avail themselves of such and educate themselves. Whatever you choose, be sure to research fully, get multiple perspectives from QUALIFIED & TRAINED financial professionals first, and never look at just one thing (financial vehicle) or expect one approach to be your be all & end all wealth unicorn, or to be the Final Answer forever. Be willing to own your choices and be willing to change course if another path is better for you, don't get attached to your choices or judgments of what is "right" or "wrong." Stay fluid. Money loves fluidity, so the more we remain fluid rather than rigid & attached, the more likely we are to have success accumulating it! 😊 psssst...for realz, get the book. It's probably $6 for shipping, and a great starting point to this vast topic. If the information in the book doesn't resonate with you, no loss. You've wasted more than 6 bux worth of food already this month, to be sure! (Better a book than a Big Mac! Amiright?!) If it at least piques your interest, you can reach out to his organization or someone else to explore the possibilities. It's your call. 😌
@@GarrettGundersonTV not banks. Just investing in low volatility funds and borrowing against them. Anyone can do that without paying fees to an insurance company that takes from the highest compounding time and eventually provides a “savings” vehicle when least need it.
Let’s run some numbers to see how that turns out. The cost for a $250,000 whole life policy for a 40 year old non-smoking male at the preferred rate class can vary from product to product and company to company, but one quote from a reputable company I represent is about $347 per month. In 20 years, the cash value is guaranteed to be $70,018 but under current values would be $105,721 with a death benefit that has grown to $326,352. The cost for a $250,000, 20 year term policy using the same parameters would be as low as about $23 per month. Taking the difference, or $324 per month, and investing it over 20 years at an 8% annual return would result in an amount of about $190,843. So clearly the ‘buy term and invest the difference’ strategy is superior.
Lots of buzz words to distract viewers from the fact that this is a horrible gimmick. This video displays a fundamental lack of understanding of finance.
Most valuable tip in this video: "There is always an interest cost. You either forfeit the right to _earn_ interest when you pay cash, or you pay interest _to_ a bank when you borrow. "
That is one that many people do not understand yet, hope to change that.
I always wanted to start my own Bank.
You can start an actual bank (I have a friend doing that) or just set yourself up and not need to use banks.
Sounds great - however i do not find anything like this in Germany where I live. Do you know someone supporting this structure here?
Cut out the middle man and become your own bank, brilliant.
Nah, I would suggest run away as fast as you can.
This sounds similar to the 'Bank on Yourself Revolution' book by Pamela Yellen. Can you compare and contrast both concepts and conclude which is better for the individual and their family? Thank you for the awesome content!
I know Pamela. Definitely some similarities for sure. A lot actually.
This sounds very interesting but I am definitely confused.
Got several videos on the topic and people that can support at cashflowbanking.com
I have to say I agree with you Marie. Too many terms thrown around. A simple spreadsheet with basic columns and definitions would help. Also, we all understand that everyone out there wants our money, Garrett sounds sincere however this type of video does not make one close out their accounts and 401Ks and sign up with him. In other words, I can withdraw excess money and store it at home today. Why do I need help with this?
This is because you where told a lot of lie and disbelief also look for the dèfinition of word you don't know
Still confused?
I can help. It’s very easy concepts that need a financial professional to guide you with the right GPS.
It happens in every household in India!... cheers
I like this and I'm starting this process now thank you Garrett
I do like what you say about whole life insurance and cash value policy
So where is our money held? We'd still have to use banks correct?
Good morning,
What do you think about using crypto as a bank.
Crypto can and will decrease, whereas your whole life insurance policy will have a minimum guarantee that you will never drop below. Crypto is highly volatile, your money can disappear in the blink of an eye, it is not recommended for banking.
The cash flow banking and buying your networth bit was really confusing. Its basically buying life insurance policies and then borrowing against them each time you need it then pay back at higher interest rates.
TC, if this video is confusing, then you are way ahead of the people who are mistakenly think they understand it.
The entire "Infinite BAnking" pitch is a marketing ploy. Its intent is to first confuse, then mislead people who are not trained to think for themselves and who lack adequate financial education. -- the purpose of which is to sell a very high cost product.
@@charlesbrown9213 It’s not confusing. If you FULLY fund a whole life insurance policy you can borrow against that policy (tax free loan) and invest into an asset such as Stocks, Options, Dividend Paying Stocks, Crypto, NFT, Art, Real Estate, etc. Anything that will pay the monthly loan amount. When it’s paid off, rinse and repeat.
I agree, if you pay monthly payments to fund a whole life insurance policy that you could pay upfront commissions for a long time (depending how it’s designed) before realizing any cash benefit. “FULLY FUNDED, is the way to go.
But whilst you building cash up and the banks fail thennu have nothing. Right now the world is more than upside-down doctors used to becdoctors, jobs used to be easily available, ships blocked from offloading . . Banks ?
@@corvetteenthusiast5163 I’ve read everyday about this topic for probably 3 years. Posted on many forums. There is an overwhelming consensus, that people believe you sign up for a 500k death benefit, pay 100 a month, and then they call it a scam. They are not grasping like you said, to max fund as fast as possible and punch your ticket on the ride.
@utubedude2842 are you implementing what you've read and learned over the last 3 yrs? And if so how are you doing it? Thanks for any response
I'm very confused, I need to make money can
this help me
can you clearly refute Dave's recent rant?
Another way to save on fed taxes. Stop paying it. Become a National. Recognize it's always been voluntary.
Can you please share some more information or a video on how to do this. Thank you
If you dont have life insurance can you make money
Garrett is an eloquent fast-talking person. Nah, I will skip on the offer.
Yep..I smell a used car salesman
🔥🔥🔥 i'm starting in real estate, does this apply in Puerto Rico?
Yep
Great video you please give great information!
Build Your Own Family Bank
Take control of your finances!
is this available to me in the UK?
Sorry. No.
Nobody ever tells you what is the cost of borrowing money from the insurance company using the cash value of your policy, I wonder why ?
If you know please tell me
It varies and can range from 3.5 percent to 5 percent. Depends on if it is direct recognition or non-direct recognition and variable or fixed rates.
It depends, as always, on your negotiating skills. All of life is a negotiation.
Meh you said your book, which I'm sure is one big infomercial for your products and consulation, was free. Went to the website and it's $3 to $6. Can't start a relationship with a lie, even a $6 one. Sucks too I was really interested in this.
The free version is at wealthfactory.com/megakit, the other one was free for a limited time. One of the books has plenty of promotion to strategies, but to a firm I don’t own. The other was my first book and I didn’t do well enough with marketing on that one.......so not just a pitch like you say.
Garrett Gunderson why doesn’t the link to your book I bought don’t work.
Geez man have i read this a year ago i wouldve thrown $6 to educate you
I have a 20,000 life insurance policy plus a 5,000 rider that I started 12 yrs ago for nephew with Globe. Can this policy be restructured? If not what is a possible option?
Guru
Great information!
I just wish they'd get to the point without the preamble. Give me the step by step without the intro.
The challenge here in the Philippines is the low cash value of whole life insurance. Where to get better?
If you can fly to the US or Canada you may be able to get it there.
How much on average is the payment per month into the overfunded life insurance? Also on average how long does it take to build that money to withdraw?
Really depends on how much death benefit you have. My first policy was 50 bucks a month, but I didn’t overfund it. The second was 262 dollars per month and 160 dollars of it was overfunded. Age and amount of death benefit is key for the amount of premium required and how much you can overfund. The people at cashflowbanking.com can run illustrations and demonstrate.
Death benefit?, cheap burial 5, 6 thousand, don't know what else u r talking about
how i can invest in things and make more using this
Create a what account?
I currently live in the UK. If I flew over to the US to set up the Cash Flow Banking account, could still access ALL the features readily whilst living in the UK?
I believe so, ask they people at cashflowbanking.com
When you want to spend the money that’s the value of the account, does that still count as lending?
If you’re getting 6 percent on the cash flow account and you take out some cash you pay four percent to the system - they are still paying you the interest (the difference) at 2 percent (better than most banks)
What happens when the assets the insurance companies purchase and use to either provide your death benefit or the interest yield on your cash value account drop in value? I’m assuming these cash value accounts aren’t FDIC insured right...
you are offering a free book but charging for it... bad form there... I am interested in the book but won't' pay for it when you say it is free and the download is on you but then charge for the download
There is a download here wealthfactory.com/megakit nothing to purchase, but you give your information to get it emailed.
Thank you... 😊
What about if you live in Australia can you cash banking Strategy
Only if you travel to the US to set it up.
Thanks, Jesus Christ of Finance.
Ha ha!!!
Let's get this right no one gets rich off this shit but it's great to have business money saved into this .
Yep.
@@GarrettGundersonTV thanks for your videos I listen to you all the time.
This is what we have been telling folks for years... wow... buy term and invest the difference
If you borrow from a policy, do you have to pay it back? Why not just build a cash reserve in a bond fund, then take your money when you need it? Why put your money in something that would have to pay back? I don't like loans from 401ks either. To me, it would be better to just take the money and buy a card and owe no one, then restock your reserves rather than buy products with fees and limitations.
Train for Longevity the dividend whole life policy’s pay a death benefit. No bank account pays a death benefit. I am getting a whole life in the next month.
@@SmithFam2323 but your money is locked up and if you don't repay the loan, you forfeit that benefit anyway. Repayment risk is high with these policies, especially if you borrow a large sum. It isn't risk free or appropriate for most... My opinion
Train for Longevity by all rights you don’t have to pay it back. However, it’s comes off your death benefit till you pay it back.
@@SmithFam2323 Before you do you might want to look at the other side of the argument.........www.whitecoatinvestor.com/debunking-the-myths-of-whole-life-insurance/
Train for Longevity I think you missed a lot of content Garrett covered in this video. I encourage you to listen again, get the book offered (I bought it a year ago & it's phenomenal!), and then connect with some professionals who understand this fully. If you don't want to utilize the folks at the website he gave out at the end of the video, definitely research this topic fully (also called infinity banking by some, "the rich man's Roth," and the "laser fund," among other terms, so you can reference those terms as well for more insights) and thoroughly research anyone you do reach out to regarding whole life insurance and other wealth-creating products and methods.
Garrett is one of the smartest, most knowledgeable peeps I have come across on this topic, and when I first stumbled upon him I was skeptical of him...& everyone else talking about money & wealth--simply because I DIDN'T know about this stuff! If we live in fear that someone is trying to take advantage of or swindle us at all times, then we work hard to create that very scenario. And if we are willing to acknowledge what we don't yet know or understand clearly, ask lots of questions, research something sans judgments or points of view about it, live in a state of question & awareness, then we open ourselves up to receiving whatever it is we seek. When we operate from judgment, conclusion, point of view, we completely cut off our awareness and our receiving, and we can ONLY have or find or receive that which we've decided or concluded is "the way things are." Applies to every aspect of life! Perhaps you've noticed there is ZERO wealth creation education in our education systems. So I dunno about you, but I figured maaaaaaaybe someone who has amassed wealth for himself, his family, and thousands of clients since he was 19 (& he openly speaks of a course correction and going to his early clients to tell them he got it wrong & show them better alternatives, such as what he now calls cash flow banking), well, just maybe he does possess solid knowledge that's worth listening to for our own information and educational purposes. I'm certainly not gonna take financial advice from anyone telling me to "save more," cut back more, and stuff more in a 401K or other IRA (especially anything tax-deferred! Anyone who suggests such CAN'T DO BASIC MATHS!). You cannot scrimp & shrink your way to wealth. It requires expansion and investments, and Garrett is one of the first financial guys I've encountered who acknowledge such, and use such languaging (which got my attention, because that's MY languaging!), and gives away so many keys to the kingdom. There are charlatans in any field or type of business. And there are genuine, generous individuals who truly care about their clientele and the people they can serve. Focus on the latter, the real deal, and it's easy to pick out the counterfeits and avoid them.
In all my experiences with Garrett & his work over the past few years, he has proven himself over and over again to be authentic and genuinely care about making financial information accessible to any willing to avail themselves of such and educate themselves. Whatever you choose, be sure to research fully, get multiple perspectives from QUALIFIED & TRAINED financial professionals first, and never look at just one thing (financial vehicle) or expect one approach to be your be all & end all wealth unicorn, or to be the Final Answer forever. Be willing to own your choices and be willing to change course if another path is better for you, don't get attached to your choices or judgments of what is "right" or "wrong." Stay fluid. Money loves fluidity, so the more we remain fluid rather than rigid & attached, the more likely we are to have success accumulating it! 😊
psssst...for realz, get the book. It's probably $6 for shipping, and a great starting point to this vast topic. If the information in the book doesn't resonate with you, no loss. You've wasted more than 6 bux worth of food already this month, to be sure! (Better a book than a Big Mac! Amiright?!) If it at least piques your interest, you can reach out to his organization or someone else to explore the possibilities. It's your call. 😌
Why get for free what you can pay an insurance company to do! 🤣
Bank accounts? Yeah, banks not quite doing as well as mutual insurance companies right now.
@@GarrettGundersonTV not banks. Just investing in low volatility funds and borrowing against them. Anyone can do that without paying fees to an insurance company that takes from the highest compounding time and eventually provides a “savings” vehicle when least need it.
I’m tired of making banks rich the hell with that anyway yeah sighn me up plz
hmm...sounds like whole life insurance to me. Sorry not interested.👎👎
Let’s run some numbers to see how that turns out.
The cost for a $250,000 whole life policy for a 40 year old non-smoking male at the preferred rate class can vary from product to product and company to company, but one quote from a reputable company I represent is about $347 per month. In 20 years, the cash value is guaranteed to be $70,018 but under current values would be $105,721 with a death benefit that has grown to $326,352.
The cost for a $250,000, 20 year term policy using the same parameters would be as low as about $23 per month.
Taking the difference, or $324 per month, and investing it over 20 years at an 8% annual return would result in an amount of about $190,843.
So clearly the ‘buy term and invest the difference’ strategy is superior.
Where can I get an 8% annualized return with no risk?
You're forgetting the secret weapon in a cash value policy: participating loans.
@@califorsyth8449 Where can you get an 8% annualized return with no risk? In your dreams.
@@sethpawlik So then why do you use that in your example?
That's why you do it when your young and in good health don't smoke 😂.
Too many ifs
What are the ifs you see?
hhahaha
EXTREMELY MESSED UP PRESENTATION.
Why?
Lots of buzz words to distract viewers from the fact that this is a horrible gimmick. This video displays a fundamental lack of understanding of finance.
Get a haircut and get to the point
Gotta admit, that is pretty funny.
Financial charlatan de jour.
Rutexas are you referencing yourself? Is this your self-appointed title?
If so, thanks for the warning! 😉 lol
If not, you've lost me.
You're not Gunderson's personal lackey by any chance?
all vids hit under 10k views. Pathetic imo.