In the past month I have had clients of mine save over $1 million collectively into life insurance contracts. I don’t push, its not complicated, and it makes sense to them. I agree that $1 million is a LOT of cash to throw into life insurance right? But isn’t life insurance bad? Isn’t it a scam? Didn’t Dave Ramsey say not to? If all of those things are public knowledge, then why would my clients willingly put so much money into it.
Let me explain the ideal savings vehicle… The ideal savings vehicle provides safety and will not risk your money for any reason. It needs to be guaranteed against loss. Beyond that, it needs to earn more than the miniscule and laughable amounts of interest paid to you in a savings account. It should also protect my buying power against inflation, much like a mortgage would. Additionally, I want to be able to shelter the money from taxes so that if I do get some growth, the IRS doesn’t take their share. And finally, the ideal savings vehicle should allow ME to participate in what is called “Fractional Reserve Banking”.
What is fractional reserve banking? Well, fractional reserve banking is what happens right now when you currently give your money to a bank. What do you think they do? Does it go in the safe and stay there until you need it again? Nope! They take your dollar and loan it out to 9 different people at the same time. That’s right. They only need to keep $0.10 in reserves for every dollar you deposit. Imagine how much you would earn on 9 car loans, mortgages, credit cards, and small business loans per every dollar you saved. That’s why banks are rich! You actually sign an approval of this when you open an account. Are you okay with someone getting rich off your money and then paying you nothing? That is what you’re doing right this very instant.
The current savings vehicle. If you’re like most people you are using a bank. You save what you can into an account that gets less than 1/2 percent interest. Oh and your interest will be taxed. There may or may not be fees on top of that depending on who you bank with. When the money is deposited, the bank lends it out to other people and pays you nothing. You are guaranteed to not lose money (up to $250,000 with FDIC insurance). So you earn nothing, your money is being used by someone else, and you actually could lose money. By the way, there isn’t even liquidity. If times get tight, a bank can restrict your access to your funds. I’ve had it happen before and it really throws a wrench in your plans.
Life insurance. When you save into your life insurance plan, you’re locking in the contractual buying power of the dollar the year you start the contract. There is our inflation proofing. 90% of every dollar saved immediately goes into you cash value and can be accessed. There is our liquidity. Because of the IRS code, the money in the life insurance is not taxed. There is our protection against taxes. The account is guaranteed against loss. There is our protection of principal. The account has a guaranteed minimal rate of 1%. There is our guaranteed growth. The account can receive on average 6-8% in dividends (not guaranteed, but has happened for the last 150 years). There is our growth. The money can be borrowed against and used to invest, while still earning the guaranteed interest and the dividends. There is our fractional reserve banking.
Life insurance is the most powerful savings vehicle on earth right now.
There are lots of types of life insurance. Term, Universal Life, Variable life, Whole life, etc. You want 1 kind and 1 kind only. You want properly structured, high cash value, dividend paying whole life insurance. Only a handful of companies offer this and most agents are paid less money when they sell what I am talking about. If you add those up, this means the average person cannot or will not sell you the right type of policy. I will. I will structure it right every single time and I will tell you to save 40% of your income into it as your Sacred Account. These are the behaviors of the top 1% and this is the right vehicle to save with. Click here if you’d like to learn more about how you can save 40% of your income using the system I’ve just described. You’ll be directed to my contact page. Fill out a request and my team will call you and provide you with any information you need.
Own Your Potential,
Jerry Fetta
Grant Cardone Certified Coach
Jerry Fetta helps his clients build wealth so that they can eradicate poverty in their own lives and own their potential.
He believes scarcity and abundance cannot co-exist and that the way to end poverty is to help you build wealth.
You were not created to spend 40+ hours per week serving the 40-year-to-life sentence trading your precious time for money just to live in mediocrity.
However, the truth is that time and money must be exchanged. It just doesn’t need to be you making the exchange.
Jerry helps his clients create wealth that exchanges time and money on their behalf. The only way to do this is to make more money, keep it, and then multiply it.
His clients see a 30% increase in income, a guaranteed increase in savings rate, and 8-12% fixed annual returns on their assets in the 1st 90 days of working with him.
To get started, go to www.WealthDynamX.com/potential
Wealth DynamX Home
Wealth DynamX TV
https://www.facebook.com/WealthDynamX
https://www.linkedin.com/in/jerry-fetta-601b00a0/
https://www.instagram.com/jerryfetta/
https://plus.google.com/u/0/105293536858963061578
https://medium.com/@jerryfetta
