How to use Whole Life Insurance to Get Rich (Become your own Bank)

I want to teach how to become your own bank.

Forget groveling to Wells Fargo when you need a home or car loan.

Don’t run to JP Morgan or Bank of America

And get on bended knee to beg for a loan to buy a business.

Take control of your life.

It’s time to start the “Bank of You”.

In this video I will explain how to harness the power of life insurance

To build real wealth.

To build your own bank.

So you can control your time and what you do with it.

And at the end of the video, it will become clear to you,

Maybe for the first time, that a clear path exists for you to become rich.

The content on this channel is for entertainment purposes only and should not be taken as financial advice. Please do your own research and consult with a financial professional before making any financial decisions. The creator of this channel does not assume any responsibility for any errors or omissions in the content.

[barttfisher]

People are facing a harsh retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.

[NwachukwuEdithN]

The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.

[jameswood]

I am 27 and i just started my ROTH IRA and deposited the max for 2024! I feel stupid for how long it took to get my life straight. The problem here is, what is the best way to invest the money to grow to $1 million for retirement?

[RaymondcrawRaymondCrawley]

I have 35% of my capital investments in an IRA, 25% in index funds, and the balance spread across other investment accts totalling over $250k. I took a big hit in Q2, 2023. Right now i am just looking for ways to recover in 2024.

[PhilipDunk]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market.

[BateserJoanne]

Getting a head start by beginning to invest early is the most effective way to build wealth, with investment taking precedence. I've learned from last year's experience that starting early allowed me to create a better life through early investments this time around.

[williamyejun]

I just 30 this year and have just under $40k in my own 401k and another $10k between my other retirement accounts. My wife has about $41k in her retirement accounts (she is not currently working). I currently make close to $63k a year. I only do 5% though to my 401k for the company match and another 10% of my income is split between an HSA and a ROTH IRA

[rebeccamoore]

I used to think every investor went broke during recessions, meanwhile some make millions. I also thought everybody went out of business during the Great Depression, but some went into business. Bottom line, there's always depression for some, and profit for others, it all starts from having the right mindset. That said, I've set asides $250k to invest for future, unfortunately l'm a complete noob.

[Suntz_u]

The rich are money minded. That is one thing I learnt from the start. I have always wanted to build wealth. I have set out $80k that I had been saving since 2020, and I want to put it in the stock market so I can grow my wealth. Any recommendations?

[totalchaos]

I checked the whole life insurance chart that my agent provided. I will have to pay 15 years of insurance money, just to break even with the original principle, because the fees eat away the growth.

[kortyEdna]

Warren Buffett has mastered what patience looks like. He has stuck to the markets, having a long term view on the markets. This is what I'm struggling to do, trying to learn how to not react to market news about inflation and all. I have currently set aside about $553k to put in the market now that prices are down. Any ideas?

[dxscvgy]

Productivity never happens by chance; it is always the result of careful preparation, dedication, and consistency. I thank God for my advisor, Mr Yuval Eric Brokman; with his assistance, I am now financially solid, earning between $10, 000 and $25, 000 every week.

[GaryWinstonBrown]

Before we stopped them, our advisor had us in over 60 assets. I'm now on my own to attempt and tidy up the mess. lost more than 25% over the previous three years. Huge national financial organization.Gregory Thomas Patchak has helped us become debt-free, save for retirement, and has helped transform my life. He has been amazing, and ever since I met him, my life has taken a positive turn because of the passive income through his knowledge and ideas, which are crucial for succeeding against all odds in this area of online commerce. I'm happy that I was able to contact him earlier this year.

[c.t.u.o]

Like Warren Buffet said, dividends are only good if the business you’re investing into can’t make good use of that capital. So if you’re trying to invest into businesses with actual growth, looking at dividends is a waste of time. Why are you investing into a company if they’re returning capital to you because they think you can make better use if it than they can. It’s not much different from bond investing. The way I see it if you have a $1 million at some point, that’d be enough to create a portfolio that would pay you between 50k-70k in dividend income...

[shellylofgren]

I recently inherited almost $500k. I REALLY need to make this money work for me, and not just disappear over time. I've been scrambling for somewhere to put the money, where I can make an effort to use the gains to pay bills so I can quit my job . All roads have pointed to the financial market of some sort which is a good idea buh where else should I put money besides the financial market? We have a 13% RPI rate so cash is tough.

[Safestrategies]

Applying for life insurance was straightforward and hassle-free, thanks to the helpful support and guidance I received.

[cjb]

I'm a certified private wealth advisor (CPWA). The problem with whole life is that for starters, there's a death benefit and as such, you'll pay dearly, for that death benefit. The agent who sells you the policy gets a commission, how do you think that gets paid? There's a surrender schedule and most often times, the surrender schedule is longer than the average marriage in the US.

You can literally purchase dollar cost average into a basket of stocks and bonds and use those as collateral, and use a line of credit against it to accomplish a similar outcome. You can also borrow up to 50K from your 401K.

As the professionals say, buy term and invest the rest. Whole life is using an insurance policy to accomplish two things; life insurance and investment return. At its core, it makes no sense.

[randys]

Thanks, you convinced me & my wife to continue with our Term life insurance policies and investing the rest into our Roth IRAs with mutual funds.

[andrewelwood]

Great content, really enjoyed that. As somebody who was about to buy a fixed term policy for me and my wife, I’m now going to explore some other options that might benefit us better. Cheers for the advice, new subscriber here.

[charleskaren]

If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.