A Simple Way To Build Generational Wealth For Your Family While Alive

[dark_magic]

I mean, I never even thought of this but shyt.....

I don't know much about the life insurance game but what you're saying makes sense.

I'm assuming this is "whole" life? Otherwise why wouldn't everyone do this?

Tell me more.

Most people won't do this. This is a strategy of the wealthy, the entrepreneur, or financially creative.

But don't get it twisted, people are doing this currently. Predominantly which will maintain their wealth now and for generations into the future.

Other vehicles can be structured for what op proposes, but whole life (when it is structured correctly) fits the bill.

 

[dark_magic]

You are forgetting about inflation.

Inflation is kept at bay by way of dividends from a mutual insurance company, interest assessed by the insurance company, and the net interest margin you may assess against yourself when borrowing from the cash value of the insurance policy.

Your personal loan portfolio can become one of your best performing "investments" simply by reorienting your cash inflows/outflows.

 

[dark_magic]

It doesn’t matter you could do it with term life too. Term life is always the better decision anyway. You would just renew the term life in 20 years or whatever if you are still young then do it again



What does inflation have to do with anything? Is $1 million in 100 years gonna be equal to $1 today?

The problem with term life is that the cost of insurance increases over time to the point that it becomes unsustainable and prohibitively expensive.

Term is cheaper in the short term, but more expensive in the long term
Whole life insurance is more expensive in the short term, but cheaper in the long term being the premium remains level throughout the life of the policy. The cost of insurance decreases over time being the cash value has a greater portion than the insurance cost up to when the policy endows.

An example similar to the above would be renting versus buying a home.

 

[BaldingSoHard]

Most people won't do this. This is a strategy of the wealthy, the entrepreneur, or financially creative.

But don't get it twisted, people are doing this currently. Predominantly unfortunately which will maintain their wealth now and for generations into the future.

Other vehicles can be structured for what op proposes, but whole life (when it is structured correctly) fits the bill.

Ok.

Give me a bulleted list of steps.

What would be the best way to take advantage of this on Tuesday, Sept 4, 2018.

 

[CASHAPP]

Let a breh know, breh

Most TERM life insurance policies are cheap if you are in your 20s and 30s. Term is when its for a period of time like 10, 20 or 30 years.

For example $1 million term life insurance policy over 20 years would have an average ANNUAL payment of 700 to say $800, give or take a little bit over or under. No thats not a typo. I didn't know most of this stuff until this year. I know its wild but yes this is $1 million. When we talk about how much our elders failed us when it came to teaching us and building wealth, it really is true.

Now imagine how much cheaper it was back in the day? or whenever term life insurance started. These are ANNUAL prices, cheaper than the average ANNUAL CABLE BILL....ANNUAL PHONE BILL

Now i just told you about $1 million....imagine the annual payment for 500,000

The reason the Black community gets messed up is cause alot of our airhead elders will take out whole life policies for some useless amount like $50,000 for their kids and grandkids to split between each other

 

[KOohbt]

This is an underrated strategy.

 

[CASHAPP]

The problem with term life is that the cost of insurance increases over time to the point that it becomes unsustainable and prohibitively expensive.

Term is cheaper in the short term, but more expensive in the long term
Whole life insurance is more expensive in the short term, but cheaper in the long term being the premium remains level throughout the life of the policy. The cost of insurance decreases over time being the cash value has a greater portion than the insurance cost up to when the policy endows.

An example similar to the above would be renting versus buying a home.

No breh for someone young in their 20s, a term life policy is always smarter to do. Yes the premiums increase but as they get much older. If they have gotten deep into their career and its a high paying career and they save good, then they don't have to worry about those higher premiums when older.

Whereas coming straight out the gate with a whole life policy will mess them up. Especially having to be stuck with it

 

[dark_magic]

Most TERM life insurance policies are cheap if you are in your 20s and 30s. Term is when its for a period of time like 10, 20 or 30 years.

For example $1 million term life insurance policy over 20 years would have an average ANNUAL payment of 700 to say $800, give or take a little bit over or under. No thats not a typo. I didn't know most of this stuff until this year. I know its wild but yes this is $1 million. When we talk about how much our elders failed us when it came to teaching us and building wealth, it really is true.

Now imagine how much cheaper it was back in the day? or whenever term life insurance started. These are ANNUAL prices, cheaper than the average ANNUAL CABLE BILL....ANNUAL PHONE BILL

Now i just told you about $1 million....imagine the annual payment for 500,000

The reason the Black community gets messed up is cause alot of our airhead elders will take out whole life policies for some useless amount like $50,000 for their kids and grandkids to split between each other

Check out the Infinite Banking Concept or Bank On Yourself by way of Google. Let me know your opinions thereafter.

 

[dark_magic]

No breh for someone young in their 20s, a term life policy is always smarter to do. Yes the premiums increase but as they get much older. If they have gotten deep into their career and its a high paying career and they save good, then they don't have to worry about those higher premiums when older.

Whereas coming straight out the gate with a whole life policy will mess them up. Especially having to be stuck with it

You and I will engage in dialectics here a bit.

I disagree that term life is the smarter choice. Buying whole can seem counterintuitive for most people.

I'd rather sacrifice for the near term for greater benefits long term. The benefit of cash value is huge especially if you are into personal financing.

Whole life can be structured to pay the premiums, but this kills the gains of the policy.

My proposal lets you build a "bank" as well as deploy funds into investments simultaneously all while living. No need to wait until someone passes to then use the funds as you proposed.

Also, there is the time value of money. Money has more purchasing power in the now than in the future given we all use fiat currency.

 

[CASHAPP]

Check out the Infinite Banking Concept or Bank On Yourself by way of Google. Let me know your opinions thereafter.

No matter what you say I'm not gonna be paying $2000 or more annually for a whole life insurance plan for my family at 26 years old and making things harder for myself when i can just keep renewing term life insurance. Plus by the time im in my 40s and ive been making 100K plus since my 30s, then i would have less reason to be worried about higher premiums

I like how you are thinking.

I will modify this a bit.

Obtain a dividend paying, whole life insurance with premiums weighted more towards cash value and less towards death benefit.
The cash value is liquid and can be borrowed out as you need it.
Borrowing out a portion of the cash value to deposit into low/medium risk equity would be the equivalent of using the cash value as a margin account for investing except there is no risk of a margin call.

Pay the debt of borrowing the cash value with future income/revenue.

This is akin to setting up a business, bank, or sinking fund. The whole life insurance policy can be structured as a saving and a financing vehicle.
Plus, you receive dollar reuse throughout your life similar to a dollar turning over multiple times within you personal economy exactly like Black Wall Street (Tulsa, Oklahoma).

The policy can be assigned to the next generation in your passing.

Teaching the future generations how to structure their savings, assets, investments, and speculations will begin generational wealth.

Good idea about the cash value...especially since this would go to my mother ....by the way am i right to say that if i started this from now, my mother would say get the $50,000 annually in addition to her yearly income? It would go straight in the equity account right?

If i go with a $2 million term life insurance,then how would i calculate how much cash value to put in the equity account and how much of the death benefit to keep?

Cause say if i die tomorrow i still want her and my other beneficiaries to get their own portion of the death benefit in addition to her annual cash value....

wait a second now you got me confusing myself breh

what were we talking about again?

 

[CASHAPP]

You and I will engage in dialectics here a bit.

I disagree that term life is the smarter choice. Buying whole can seem counterintuitive for most people.

I'd rather sacrifice for the near term for greater benefits long term. The benefit of cash value is huge especially if you are into personal financing.

Whole life can be structured to pay the premiums, but this kills the gains of the policy.

My proposal lets you build a "bank" as well as deploy funds into investments simultaneously all while living. No need to wait until someone passes to then use the funds as you proposed.

Also, there is the time value of money. Money has more purchasing power in the now than in the future given we all use fiat currency.

30 Year Term Life Quote One Million Dollars. For those that think that a million dollar term policy is expensive, you'll quickly notice that for a 25-year-old male in good health only costs $645 per year with a 35-year-old costing $795.Aug 27, 2018

What option do you think the coli would choose?

Also....you are forgetting the premium rider that could be used when the term life ends and the premiums increase:

Return of premium rider. A policy add-on that returns the premiums paid if the insured outlives the term of the policy. For example: If a 10-year term life policy is purchased for $50 per month, and the insured outlives that time period, with thisrider, the policyholder would have up to $6000 in premium returned.


This could then be used to help you pay for the newly increased premiums.

 

[dark_magic]

No matter what you say I'm not gonna be paying $2000 or more annually for a whole life insurance plan for my family at 26 years old and making things harder for myself when i can just keep renewing term life insurance. Plus by the time im in my 40s and ive been making 100K plus since my 30s, then i would have less reason to be worried about higher premiums

That's fine. What I'm proposing are for those who can see it. Today may not be your time to understand it ...

You must look at it from the perspective of a banker and not as payor.

Whole life policies are adjustable. You have flexibility in many ways with regard to the premium. The premium is a deposit or capitalization if you will.

Good idea about the cash value...especially since this would go to my mother ....by the way am i right to say that if i started this from now, my mother would say get the $50,000 annually in addition to her yearly income? It would go straight in the equity account right?

If i go with a $2 million term life insurance,then how would i calculate how much cash value to put in the equity account and how much of the death benefit to keep?

Cause say if i die tomorrow i still want her and my other beneficiaries to get their own portion of the death benefit in addition to her annual cash value....

wait a second now you got me confusing myself breh

what were we talking about again?

Term does not have cash value. Only a death benefit. Whole life has cash value and a death benefit.

You have a choice to employ your strategy and wait for years or choose my strategy that can be employed now.

Additionally with my strategy, you can avail yourself of dollar cost averaging with your allocation into investments.

 

[dark_magic]

30 Year Term Life Quote One Million Dollars. For those that think that a million dollar term policy is expensive, you'll quickly notice that for a 25-year-old male in good health only costs $645 per year with a 35-year-old costing $795.Aug 27, 2018

What option do you think the coli would choose?

Also....you are forgetting the premium rider that could be used when the term life ends and the premiums increase:

Return of premium rider. A policy add-on that returns the premiums paid if the insured outlives the term of the policy. For example: If a 10-year term life policy is purchased for $50 per month, and the insured outlives that time period, with thisrider, the policyholder would have up to $6000 in premium returned.


This could then be used to help you pay for the newly increased premiums.

I would think those who are knowledgeable on this matter would chose my proposal.

In 10 years of premium payments on a whole life policy, the cash value would equal or even exceed what the payor put in.

The policy holder may even have six figures in cash value in a decades time due to the premium payments plus interest and dividends.

The policy holder could even do term riders using the strategy that you purpose above to accompany their whole life policy giving them more coverage and options.

Term policies can even be converted to whole if the company has that option/feature.

 

[CASHAPP]

That's fine. What I'm proposing are for those who can see it. Today may not be your time to understand it ...

You must look at it from the perspective of a banker and not as payor.

Whole life policies are adjustable. You have flexibility in many ways with regard to the premium. The premium is a deposit or capitalization if you will.




Term does not have cash value. Only a death benefit. Whole life has cash value and a death benefit.

You have a choice to employ your strategy and wait for years or choose my strategy that can be employed now.

Additionally with my strategy, you can avail yourself of dollar cost averaging with your allocation into investments.

So are you saying if i go with the term policy and equity idea and do what i said in the OP, mom wouldn't get the extra $50,000 a year from now? I would have to die for her to get that?

 

[dark_magic]

Ok.

Give me a bulleted list of steps.

What would be the best way to take advantage of this on Tuesday, Sept 4, 2018.

1. I would begin with research. I would start with the book, "Becoming Your Own Banker" by R. Nelson Nash.

2. You can also check out the Infinite Banking website at www.infinitebanking.org.

You have some education and de-programming to do before you can see it, but once you see it, you can't unsee it.

I was so inspired by this concept that not only did I obtain policies, but I became a life insurance producer as well off the strength of the concept alone.

 

[dark_magic]

So are you saying if i go with the term policy and equity idea and do what i said in the OP, mom wouldn't get the extra $50,000 a year from now? I would have to die for her to get that?

I'm glad that we have engaged in these dialectics.

You just made me realize that I employ both your strategy as well as mine at the same time. I have both a whole life and term insurance policies.

Correct. Term only provides a death benefit. It doesn't build any "equity" (like a home). That equity is called cash value in whole life.

Furthermore, in your example from your original post, the policy was on your wife or child. They must pass before the (death) benefit is dispersed to beneficiaries.