im from fort worth sir .. good too see a great mentor i never new about you unti now you better believe fort worth will know you know im sharing all your content.. thank so much for your teaching and educating us.. god bless you and your family..
James talks about practicing outside of the US in this Q&A: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-_6g5jEl33Bg.html It's question number 3. I hope that helps!
What about a person just past 50 who only has minimal savings, some home equity and trying to finally build for retirement after losing so much during the crash of 2008? Thoughts on how this can help at least get something set in place for the 62-65 mark?
Yes. The concept works for everyone. The key is to stop thinking about whole life insurance as insurance and start thinking about it as a wealth accumulation and capital preservation tool to take over the banking functions in your personal economy. It works.
Mr. James are you still in Fort worth? I was hoping if its ok if i send you an email? Just to pick your brain on a personal matter that im sure you'll understand being from Fort worth OG Funkytown.... lol in hopes that it could shed some light on my situation. I recently created my business "Love Thy Neighbor Property Group" llc on 6/19/2020 and still working hard trying get the ball rolling Its been challenging. But one of the proudest moments of my life.
The life insurance company cannot place a limit or restriction on what is done with loan proceeds. The loan is a contractual right of the owner and a private transaction in general. The only limit is how much loan value is available. The greatest limit lies between our ears.
Best way for real estate beginners is to start with a single family home, it involves less overhead, fewer things to go wrong and just less risky when mistake inevitably happen.
I have a question, what if i deposit 100k in the policy, do i have 100 percent availability of that money, the know the payments i only have 70 percent
Using lines of credit and zeroing out those lines of credit, while using them to boost capital access (by the ever increasing size of lines offered to you) and get rid of bad debt extremely fast. Using lines then to create cash flow assets, increasing overall cash flow. Use the banks tool of simple interest lines to fund your life and buuld wealth. Lastly your home is NOT an asset, if its not putting money in your pocket, its a liability.
Tom, that works as long as your home continues to increase in value and as long as the banks don't pull your lines of credit, both things happened in 2008.
OMGsh! Might I strongly suggest that you get somebody who can do some plain english graphics and overlay them so that there's NO CONFUSION! Build it toward an audience of 7th graders (the average American reads/comprehends on the 7th grade). Unfortunately, the way it was done creates confusion which creates distrust in the idea. No one buys if they're confused and this seems far too valuable to leave it improperly illustrated and explained.
Whats the least amount we need to start and how much we got to put in each month. Im so low income i qualify for all welfare benefits. So intact im even lower income then that cuz I refuse to take any welfare. Any extra money I would have is all gona be spent buying medical insurance. I'm self employed. . Corona isnt going to take my business. Im not giving up.
Why is the Infinite Banking Concept never clear? It's always an hour long video with no clarity. Honesty is brief and to the point. I'm not a fan of Dave Ramsey, but he can explain IBC in one sentence.
David, the problem is it is simple and clear, but the mindset problem of typical financial planning and thoughts about money is why people cannot understand the concept. Dave Ramsey does not understand the concept. It is easily proved by the fact when he says, "Why would you want to borrow your own money?" You are not borrowing your own money, you are borrowing from the cash reserves of the insurance company, thus your money is still in the contract and compounds with guarantees. This is just one of his fallacies, of course, if you question him, he just belittles you like the good Christian he is.
One hour is troubling? It's the *_Infinite_* Banking Concept. One hour to explore possibilities and applications is peanuts compared to decades of scarcity and eating beans & rice. And no, despite two decades of opportunity to learn --in his own neighborhood--, Dave Ramsey still continues to speak without truth about I.B.C. It's a reminder of the aphorism, "It is difficult to get a man to understand something when his salary depends upon his not understanding it."
I'm new to the ibc concept, I just don't understand how this works, I'm so confused. I get the being your own banker, I don't understand how the policy works? So I have a big lump sum of money coming..... trying to figure out what to do
But I need to wait 6 years to access enough cash to buy real estate. With a 20k a year premium I could use that as a down payment and still have the asset. I get that this is a long term strategy but the younger generations will struggle to have a 20000 excess cash for an annual premium
Well we understand that the qualified plans are shit, but beyond the shit I have one question? Are the Permanent Whole Life Insurance premiums that I am paying are they tax deductible each year from your 1040 Tax Form filing each year. We all understand everyone has his own agenda. It seems everyone talking about the Infinite Banking system seems to leave out the important details.
@@larrytompkins5719 I'm sorry but I'm asking a question, do you know what a question is? Do you see the question mark at the end of my statement, it means it's a question. I see nowhere in my question whether I said the man was right or wrong.
Some mutual insurance companies (those that pay dividends to policy holders - not share holders) have been around since the American Civil War, and paid dividends right through the Great Depression. It's not likely they'll be going out of business. The very few that have generally forward their policies on to their buyers.
