The 5 Biggest Negatives of Infinite Banking
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- Опубліковано 4 вер 2022
- Me and Chris Kirkpatrick from LIFE180 talk about 5 negatives of infinite banking you need to watch out for!
#infinitebanking #beyourownbank #nelsonnash #wholelifeinsurance
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But, the interest rate, still grows off the account value. If you borrow against your policy at 100k and the amount you borrow is 70k, you are still earning interest on the 100k.
Great video guys, I love the honesty and the way to look at things very transparently.
Great video guys. Lot of useful information put in an understandable way
Thank you for watching! Glad it brought you value!
You guys are right in some respect but wrong at the same time.
The idea of a policy loan is that you are not dependent on the bank to offer up collateral and to adhere to their credit ratings to get a good interest rate and payment schedules. Miss a payment schedule because you lost your job or hard times hit and see what the bank does to you.
When you borrow from your life insurance policy, you’re in the driver seat when you pay it back.
I look at the policy as the bond portion of my portfolio with the capability of policy loans. The advantage is that the dividend it generates is 100% tax free.
Another powerful aspect of these properly designed life insurance policies it that it’s really a pre-engineered trust agreement -the less I own on my side of the ledger but still have access to the funds puts me in the catbird seat.
Exactly, they're referencing optimal best case scenarios that aren't realistic for most people. In a perfect world it may be optimal money wise to use a conventional loan. However, you are now at the whim of the bank. Whilst you have control over your cash value still, you don't have control over that bank loan. I suppose you could bail yourself out of that loan with CV provided you haven't used it at that time.
Not to mention you're inflating the money supply and propping up the evil banking system by taking that conventional loan. I think if you care about the good fight and becoming part of the solution, you simply stay away from the banks even if you come out ahead slightly by using their loans instead of your own.
That is what Nelson Nash would have said. This is more than just finances. There is a spiritual and freeing aspect here that is being missed by these guys. They're more focused on pure money optimization than the bigger picture.
You don’t have control over a bank loan. You have a schedule with a a bank loan and you only get the asset in return.
You are borrowing against the death benefit. So, you are still earning interest off of the account value, not the amount left over after borrowing. So you are still paying premiums into the account value and growing the account and practicing compounding interest.
Y’all look like actors from the Grinch movie lmao 💀🤣
This is a really good video
Thanks, Denzel!
do these same rules apply outside of the us. anyone know if this works in Australia? Thanks you
Thank you ma’am thank you so much and God bless you always
I’ll point out the elephant in the room. Let’s face it. People talk about borrowing against their policy to invest and have their money working double time. But what about the types of investments that go sour and you still have a policy loan to repay? I think this should be part of the discussion.
Hey Anthony! Thanks for bringing this up. It's definitely an important topic and something we've covered in a lot of our videos. I'd be happy to share the links with you if you'd liked to watch :)
Also should be a part of the conversation in what circumstances is leveraged cash value still actually earning a return and what is the impact on those earning because of the loan?
i dont hear much about the cost of the insurance policy in this equation... . .
Using the barrowed money to invest in other assets can be risky. The whole point is that policy holders is able to barrow, and the principle continues to earn that interest.
It's taken from your death benefit if you don't repay the policy loan. You can also get another policy that's term life insurance so you always have the same amount of death benefit. But you don't technically have to repay a policy loan with wholel ife, and at the least you can pay it back on your own terms.
I don't understand what or where the control is if you are 1.5% more through a third party. They have control on the term of the loan.
When an investment comes up that has an opportunity to make much more than that 1.5% spread, you have control over your capital and the option to deploy it & purchase the investment, because your capital is not tied up with the car purchase.
Can y’all do more videos about insurance and go through a scenario with numbers of how the entire process works ? Could you also speak on taking a loan from the insurance to purchase appreciating assets or cash flowing assets ? Like would this make more sense than taking a loan from a bank etc thank you. And Great video…keep it up !!!
Hey Stephen! We actually have a ton of videos on all of those topics! ua-cam.com/play/PLSXbgsLBVKmEbxOb2H6N_39NYa_7VKYEr.html
We have a lot more videos coming also so be sure to turn on notifications!
Thank you Arthur😊I’m doing my homework.
No if they give real numbers you will see how bad this is !
Congress has made laws that you can’t get a financial advisor license if you sell this product!
IRS put out letters on ot after they did a two year investigation and they warned that the money is not taxable only because it’s your money that you overpaid and that you will never get a profit from this so it’s not income Or capital gains
@fuzzyelm1 not true dum dum, I'm a financial advisor & sell these plans all the time. I also use it in my own financial program
@@fuzzyelm1oh I see, you're just a troll lmao get lost
So wait!
Am I doing something wrong from borrowing against my policy and loaning it to my corporation business so it can pay off its debt, and in return, my business will pay me back at a higher interest to then put back into the policy??
I thought some of these whole life policies have guaranteed rates of growth? Not correct?
can you run a computation taking into consideration loans etc?
Yes we can. We will do this on future videos 😊
@BetterWealth thank you. I still like IBC over IRP-UL. we dont have IUL in Canada. the simple interest for loans vs. compounding interest still wins over time. plus I agree with what you said that the money borrowed from your policy should be used to something that will give you return, but then again, the taxable income part on those gains should also be considered. I call IBC cash management with tons of benefits.
Where is that potential 3.5% coming from? Is it coming from investments that the insurance company is making then crediting your account?
i haven't understood your points
Can you answer a few questions or direct me to a video that answers this. How much do you need to put in and/or how long i will need to waot before i can loan against my cash value. Also, what other fees are associated with lendong other than the interest rate they quote
Great to see you and Chris Kirkpatrick doing a show together.
Happy to be making it with him!
@@BetterWealth ALWAYS a blast!
thoughts on New York Life Insurance ?
If it can be structured properly I think it would be great as it’s a solid mutual company.
Not only life insurance, you should not over hype anything for that matter. This guy is talking about what others are saying about the product. I wish he would have talked about the truth about the product.
Hey thanks for watching! We have lots of videos talking about the benefits of the infinite banking concept!
@@BetterWealth Thanks. I am really benefitting from your viideos.
Question where is Chris Kirkpatrick's link to his stuff
He's at @LIFE180 on UA-cam!
@@BetterWealth Thank You
I want to use the policy loans strictly for the purpose of real estate investing.
I know lots of people that do that! Give us a call if you want any resources or help! bttr.ly/aaclarity
@BetterWealth I have actually been wanting to schedule a call with you for a long time. I have read Nelson Nash and your book. I am a little worried about the mass mutual thing and have eyed Penn mutual for a while as preferential. Would love to setup an introductory call to establish a game plan with a trusted competent company, and I've kept coming back to you due to your IBC knowledge.
@@Black-Knight we would love to serve and help in any way we can. Please reference this comment when you schedule a call with us and I will personally make sure your in good hands 😊
So if life 180 borrows money from a bank instead of yourself...who does the interest get paid to?
The bank…
The volume mix on your videos is incredibly low. Can you please edit it so that is normalized closer to other videos and ads?
Hello William, thanks for the feedback! Any videos in particular you’re struggling to hear properly?
Amazing video, lot of things I did not know about insurance 🤯
Glad it was valuable for you!
Great ,Well balanced argument, without the spin of
Rose Tinted Sunglasses.
Like, factoring in Premium Whole Life Insurance as a cost, which and giving Net. Examples, versus so often on the subject example, net of the costs, not truely representative of the cost of doing the business.
By that I mean, BYOB and IFC.
I'm doing my due diligence, before committing A portion , of my cash/Negative cash flow, sum total, into
IBC or BYOB.
To explore any opportunities, like here, you guys , show, there's always a opportunity cost or cost of money borrowed.
The other point, Ownership, Control, when borrowimg from a bank Amortised Loan, versus Using your Whole of Life Insurance Cash Value as Co-lateral to a loan.
Thanks guys!
Well done Presentation.
👍👍👍👍👍💯
Audio is too quiet. Headphones are at 100%. But I still can’t hear what you are saying
You guys need a better understanding about how to set whole life policies up. You can actually make money on buying cars etc. If you take a loan from policy you should be profiting on the spread never losing. Also interest gained with also gain interest. After 10 years you payments also drop SUBSTANTIALLY. I think you both need to research a bit more but the guy in the Life 180 shirt needs a lot of self educating. No disrespect at all. I understand how you see things. Whole life is absolutely amazing.
Hey we appreciate your insight! We have tons of content on the pros of this strategy as well as how to structure whole life. We believe it's important to balance the conversation and also play devils advocate and point out areas of contention. But we also believe whole life can be an amazing asset!
@@BetterWealth That’s great and makes perfect sense from a getting views standpoint on UA-cam. That’s a good strategy for sure. I’ve been into life insurance (whole life only) (no IUL’s) for a while and my experience with it is has been nothing but awesome and is sad how many will never even learn about it and think it’s only for a death benefit.
Most of the policies have a Net IRR of 3.5% to 5% you're really not making money in most situations. I understand Your earning compound and you are paying simple interest but your policy is growing the same whether you borrow or not. I like policy loans from the control standpoint when it makes sense.
Why should I have to take a loan out on my money? If it's my money then I shouldn't have to pay it back right?
Hey Brian! Thanks for the question. For clarification, you aren't taking a loan from your money but you are borrowing against the cash value of the life insurance policy. The advantage of this is the cash value is still growing and you aren't using your personal capital.
Here's a good video explaining the concept more in-depth :) - ua-cam.com/video/O9uXdvLlwhs/v-deo.html
isn't the money in the policy earning compounding interest, and the loan is simple interest?
Since, you cannot compare 4% to 6 %
not the same % scale.
oranges and apples?
ok you may have answered already as I continued watching
Hey at 12:08 the screen goes black and then comes back in at 13 minutes.
Yikes! We will get this changed ASAP!
Hopefully by working with you it will increase Chris’s honesty in talking about and discussing IUL’s.
Terrible volume level!
I'm sorry to hear you had trouble hearing the video properly. I'd be happy to send you a version with the volume raised louder.