Can someone ask Dave Rambut why were the Rothchild family is heavily invested in life insurance and did a great job in being a huge part of their wealth!
Well these guys are saying that oh well, you can't get Dave to change his mind. Well if you was good as a salesman as you say you are then it should be no problem changing Dave's mind
Well to be real, those Banks aren't using their own money to begin with, so of course they would have that as a tier one investment because they know technically it's not their money. They're losing if there is losses
That's substantial. Loss of money isn't going to be more than what you're left with not even close so it really doesn't matter if they take the money for a state tax or not
Actually the debit card issuer going to investigate just like a credit card company would and see what happened and give you your money back. That's really no difference. You still get your money back at the end of the day
Its half truth, there are insurers where you can get practical wash loan because they'd still continue to give you dividends on loaned amount, which will more or less be the same rate as loan rate. You are technically paying loan interest to the insurance company but practically you are paying loan interest to yourself.
As someone who has been taken and successfully passed a cfa lv 1, s7 and s66, I can definitively without a single doubt in my mind that annuity contracts are some of the most worthless products I’ve ever seen for a consumer. The agents who generally push them are extremely arrogant, crooked or moronic take your pick. There is no inherent logical reason to ever purchase one unless you’re scammed into buying one. Just own up to the fact that you’re sleazy ripping off your local community with these. Frankly I think people would respect you more if you did lol.
Why do this instead of “buy term and invest the rest?” Because term is annually renewable, and will always rise in price as you age. It doesn’t matter if you make it “level”, cancel, and then renew with a replacement level term. It’ll always be a rising sunk cost, with nothing to show for all the years you paid into it…and, eventually, no one is going to want to cut that check. With whole life - your insurability is locked in for life. While the market has had “solid” historical returns, you’re still subjecting your money to plenty of manipulation, variable amounts of risk, and tax, just to name a few things. There’s a big difference between average rate of return, and *actual*. The policies these guys are talking about are specifically designed, participating, whole life, from a short list of mutual companies (only), and with an agent who knows what they’re doing (both of them). They’re not your average whole life - you can’t pick it “off the shelf”. This type of policy is considered an “AND” asset…meaning that you can “have your cake and eat it too”, in many ways. You don’t have to choose between one or the other - you get to do both. You park your money into these policies *first*, leverage it, and then go invest it in your favorite stocks. You’ve now given your money a safe, uninterrupted, place to grow, for life, while earning an additional return in the market - your money is now doing more than one job, at the same time. You’re also the boss - it’s on you to decide what to do with the cash, at any point in time. You know how a bank makes money when you pay them back for a loan? Yeah, this is you now. You’re the bank, and you’re collecting, however you can. There’s a good bit, with this, to wrap your head around, but I can assure you…this is one of the best financially foundational things you could ever build for yourself, and your family. Also - No - IUL’s will never truly work for utilizing the strategy they’re discussing (IBC). Don’t care how many Finfluencer’s try to tell you otherwise - don’t bother to sweat them. Reason? Because it transfers the risk *onto* you, instead of *away* from you…and that’s the Whole (pun intended) point to begin with.
Doesn't Penn Mutual give a different dividend scale for older policies issued before 2008, presumably lower than newly issued ones? Similar to the IUL crediting game that is played to rope in new policyholders at the expense of older ones.
This was a bit different from the normal content I’ve done but I hope you found it valuable! Would you like to see more of me presenting concepts and financial strategies like this?
I must say that the family that u leave inheritance too needs to have knowledge of wealth and to keep this going because one bad apple can dead end the legacy.
Great interview! Dave O'Malley is super impressive in his ability to communicate with simplicity a very sophisticated topic. He is literally on top of Penn Mutual's daily performance.
HUGE respect to Dave for his candor, transparency and graciousness in this interview. Many thanks to Caleb for extending the conversation (as usual) to questions outside mere insurance/financial realms. Kudos all around!
The thoughtfulness in your content extends to the end screen, where viewers are guided to other videos or encouraged to subscribe. It maximizes engagement.
So Nelson Nash had an example in his book about two women who contributed to a cd and one to a policy. I didnt understand did she have to pay back on that car or did she just take the chunk of money out and keep paying the yearly premiums? I believe it was page 45 in his book.
We have lots of videos with numbers! Also, we have a second channel called @AndAsset that we will be releasing tons of number based videos and case studies so that would be a good channel to subscribe to!
I am planning to get both Penn and Mass this year..just curious..why did you choose Penn over Mass mutual..just asking for information purposes only..I am getting both anyway
@@MikeAffholder I did it thru IBC global they have a RU-vid as well but I had multiple policies from both third parties and directly from insurance companies the third party ones that make RU-vid videos seem to get best bang for buck imo
@@MikeAffholder multiple sources wehters it’s directly with the insurance companies or third party ones have them compete to keep making me better ones until I feel I’ve milked it enough is what I did
why is it not better to just use a trust and invest in sp500index for a higher return and you can borrow money against that to also invest in sp500 index fund and get a mutch higher return ? Thank You