Tag: Cashflow Hacker
How To Use Whole Life Insurance Pre and Post Retirement
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
did you know that whole life insurance is
an extremely powerful asset that can be utilized before retirement and then also
in retirement the cool part is it solves different problems at different times in your
life so for this video I'm going to go through all the ways that you can utilize whole life
insurance before retirement as you're nearing retirement and ultimately in retirement and as
you pass on to the next Generation so before I get into this make sure you subscribe hit
the Bell that way you're notified every time I launch a new video launch of videos
like this every single day let's get into it hey what's going on cash flow hackers it's Chris
with life180 for this video we're talking about the power pole life insurance how it can work for
you before you retire how it can work for you as you're nearing retirement ultimately while you're
in retirement what are the different ways that you can utilize whole life insurance in your life at
all these different stages to benefit you and help you reach your goals faster help protect you help
you live the life that you want to live I know that sounds like a bold statement to have all this
stuff being done for you in one simple product especially with a product that doesn't have that
much hype and it's very straightforward and no risk in it and all this stuff so it maybe sounds
too good to be true but I'm telling you right now we're going to get into this and it will make a
lot of sense so without further Ado let me just do this let's uh I'm gonna put my chair up there and
let's just get into this so pre-retirement let's talk about pre-retirement I talk about this a lot
because I think it's one of the most important things for people to understand before you're in
retirement as you're building your family maybe you're starting your family even before you start
your family this is an important area to consider the first thing that we need to do I always kind
of say if you want to be a good investor you need to save before you invest and you need to in
save with the intention of investing when you invest you need to invest for cash flow the only
way to do that is by first and foremost setting up your financial structure proper Lee and making
sure that you have an emergency fund in place I'm a big believer that we need to have two years
of Safe Money two years of our income in safe money for emergency and opportunity so that's the
other way I got down here I jumped ahead of myself an opportunity fund which is what we would call
infinite banking now I know I utilize infinite banking a lot we talk about the infinite banking
term a lot that's a marketing term utilized for leveraging and properly designed whole life
insurance contract now I think what I what I really want to want to impress on people for this
is that this concept of infinite banking here only gets implemented once you have the
emergency fund checked off right that you cannot Implement private banking or infinite banking or
cash flow banking until you have your financial Foundation set which is your emergency fund so I
say people should have two years of income in an account like this in a properly designed whole
life insurance contract because of the fact that one of those years is for an emergency
phone because the average time it takes for somebody to find a job is one month for every
ten thousand dollars of income and so if you're earning a hundred thousand dollars a year then
you need to make sure that you have 10 months of income and that's average right and you know
what it what it comes down to is I guess if you make less you don't need quite as much you take
that do what you want with it at the end of the day having more money uh than you think you need
an emergency fund is just going to protect you and if you have too much use it for an opportunity
fund use it for private banking whatever you want to do that's a great thing now private uh I
mean protecting your family obviously a big deal um I've had a lot of conversations lately and
it's it's crazy um when when you start having these conversations with people and it becomes a
regular occurrence you know people are reaching out and they're they're trying to get insurance
and I connect them with my team and uh the common story that's been happening over the past month
maybe a month and a half is people who are wanting insurance that can't get it people that had term
insurance and it's expiring now they're having health issues and they don't qualify for insurance
anymore and they have kids or maybe their kids are gone but they have a spouse that they want to take
care of or they have debt that you know now that they're they're not qualifying that that their
their family is completely exposed and at risk and they followed the Dave Ramsey plan of just
buying term and investing the difference but now they don't have enough invested because they
didn't like have a structured enough plan to do it and then uh even if they did their their
need for the having the the insurance to cover their debts and to cover their mortgage and to
cover their income if anything happened to them uh simply isn't there and and they're not able
to qualify for us so making sure that you on a guaranteed basis have your family protected is a
big deal utilizing it for business reserves I'm an entrepreneur I love entrepreneurs I love working
with business owners having access to business reserves having a buffer I I I was reading an
article going back to 2008 in the in the Great Recession right which I think we're coming into
a very similar time but going back to 2008 the Great Recession 74 businesses 74 business 74 of
businesses that failed were actually profitable businesses as a whole but it was just they didn't
manage their cash flow properly and because of the fact that these businesses had downturns in their
cash flow for short periods of time we're talking six months they didn't have enough cash flow and
they didn't have enough reserves to be able to weather that storm so those profitable businesses
otherwise had to be liquidated at Pennies on the dollar because they didn't have business reserves
so things are going still relatively well for most businesses my encouragement if you're a business
owner start thinking about this get as much money put away into business reserves as possible use
the sunny days to prepare for the rainy days and I think you'll be well benefited it from that
utilizing is key person insurance this is a really important thing we call this golden handcuffs
we call this a lot of different things but if you have once again you're a business owner
utilizing it while you're working if you're an entrepreneur this is a way that you can utilize
it to protect your business interest to protect your business partners it's a way that if you
own a business and you have key employees that are vital to your business to insulate the cash
flow of that business and protect it is to ensure and keep people that work for you that way if
anything happens to them it doesn't disrupt your cash flow it protects the health and the
longevity of the business plus you can utilize a policy as what we would call golden handcuffs
because it comes with benefits of the cash value right and you can utilize those benefits with a
vesting schedule to make sure that really talented people that you would want to hire don't leave you
preemptively uh for the competition and if they do that money just kind of becomes yours and that's
good good now living benefits this is a big one um it's not as often that this happens when
you have uh are in your younger years and have a family but living benefits if you become
chronically uh ill if you become a critical care need critical care or if you become terminally
diagnosed with something you have access to your death benefit while you're alive for alternative
Medical Treatments or for whatever you want whatever you deem appropriate for you and so I'm
going to go over here now and get into retirement post retirement because it's a really important
thing we start with this because this obviously becomes more applicable as we get into retirement
right so as we get into these retirement years that's a big deal we start talking about the fact
that it's inevitable that we're going to have some health challenges in retirement if we live
long enough so having access to this uh benefit inside of a whole life policy is huge and that
is a benefit that you're not going to get with term insurance when that's gone then you have to
if you don't have these living benefits in your whole life policy then you have to spend money
on other things like disability insurance even more disability insurance I wouldn't say that you
should replace disability insurance altogether or long-term care necessarily altogether if you
were able to plan long enough uh far enough ago long enough ago but the bottom line is most
people didn't and so maybe as you're reaching retirement and you're thinking to yourself wow
long-term care now I'm retiring in five six years long-term care is really expensive I don't think
I can afford it uh disability insurance is not going to get me anywhere as I hit my retirement
years so what can I do to help prepare well having these living benefits if you're kind of hitting
that straddle era where you're kind of 10 years or so away from retirement this can be a great
way to help you accomplish that by utilizing these abrs that can solve many needs for you utilizing
life insurance is a volatility buffer I talk about this one all the time it's one of my favorite
topics to talk about that markets here I'm going to just come over here real quick markets go all
over the map right so I'm just going to say let's say you you started and your account value is
here and if you start and the market goes up and you're taking income and income and income and
income every year and the Market's going up then you're good but there's a thing called sequence
of return risk right so what happens if like it's 2008 or 2020 in your first year retirement in the
first year you're retiring you're having to take income and the Market's going down so you have to
liquidate negatively performing assets that's the worst thing that you could possibly do right is to
liquidate negatively performing assets and so what we do is we have whole life becomes a volatility
buffer so if you have this going into retirement and the Market's not going up instead it's going
down well instead of liquidating negatively performing assets at this point in time you're
going to use whole life insurance for your income in down years that way it can recover and you only
take income out of it while it's performing well that helps you uh ultimately eliminate a lot of
the longevity risk and the volatility risks and and all the things that go along with that and
that is a really powerful powerful strategy that honestly you need to have a guaranteed liquid
accessible account that can play that role for you in retirement otherwise you're going to have
problems there's no way around it so the next thing is uh tax-free wealth transfer let's face
it it's death benefit right the life insurance component of the whole life policy is going to be
passed to the next Generation on a tax-free basis that's important to understand most accounts are
going to have tax ramifications wealthy people understand that they don't want term insurance
they want whole life insurance because they want this to be there on a guaranteed basis when they
die because they want to make sure the government gets as little of their money as possible and they
get tax benefits and the money more of their money goes to their errors than the government and
that's what having this is all about ultimately when you have a whole life policy it helps reduce
the longevity risk longevity risk as I said is the greatest risk of all in retirement because the
longer you live the more chances you're going to have health risks the longer you live the more
chances you're going to have Market Cycles ups and downs ups and downs and so you're going to
see these down several times in retirement right so you know that the more chances if you live for
30 years in retirement you're probably going to see three times where it's down so the need for
that volatility buffer is even more important the longer you live the more important this volatility
buffer is right the longer you live the more important the living benefits are because the
more likely it is that you're going to get sick the tax-free uh benefit is going to be there no
matter what but at the end of the day whole life insurance will be there with you at every phase
of your life it'll help you as you're trying to build wealth it'll be an emergency phone it'll be
an opportunity fund you can leverage it to invest in things like real estate and other cash flow
assets you can use it in retirement and it will help you get living benefits it'll give you the
tax-free advantages it'll give you the volatility buffer it helps like flatten out the risk so to
speak in everything that you have going on and so my encouragement to you is if you haven't thought
about what a whole life policy could look like for you as a holistic perspective in your financial
plan right then I would encourage you to really contemplate it really take a look at at a really
kind of decoding do you have enough safe money or are you super exposed to risk especially in a
time like today where we're seeing uncertainty in the banking institutions that we're
seeing uncertainty in the world in general political risk inflation risk taxation risk
the the debt risk in this country it's it's crazy and so you need to make sure that you
put your money into place and you have some money at least allocated in a place that
you have guarantees that will provide all the benefits that we just talked about so if you
haven't already make sure you subscribe to the Bell that we're notified every time I launch
a new video if you have any questions at all come in the comment section below I do my best to
engage with every single comment personally it is me who is responding to all the YouTube comments
I don't give that to anybody else I take that on very seriously so hopefully you found this value
this video valuable if you did please share it with people be honored to have you uh share it and
like it and get it out there the YouTube algorithm loves it when you do that so until next time have
a blessed inspirational day we'll talk soon see ya
How To Use Whole Life Insurance Pre and Post Retirement
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
did you understand that whole life insurance is.
an extremely effective property that can be used before retired life and afterwards also.
in retirement the great part is it fixes different problems at different times in your.
life so for this video I'' m going to experience completely that you can utilize whole life.
insurance policy before retirement as you'' re nearing retired life and also inevitably in retirement as well as as. you hand down to the future generation so before I enter into this ensure you subscribe hit.
the Bell that way you'' re informed every time I launch a brand-new video clip launch of video clips.
similar to this every day allow'' s enter into it hey what ' s taking place cash circulation cyberpunks it'' s Chris.
with life180 for this video we'' re chatting regarding the power pole life insurance coverage exactly how it can benefit.
you before you retire exactly how it can benefit you as you'' re nearing retired life ultimately while you''
re. in retirement what are the different manner ins which you can use whole life insurance coverage in your life at.
all these different stages to benefit you and also help you reach your objectives faster help protect you help.
you live the life that you desire to live I recognize that sounds like a strong statement to have all this.
stuff being provided for you in one straightforward product especially with a product that doesn'' t have that. a lot hype as well as it'' s extremely straightforward and also no threat in it and also all this stuff so it possibly sounds.
as well excellent to be true but I'' m telling you right currently we'' re going to obtain into this and also it will make
a. great deal of feeling so without more Ado allow me just do this allow'' s uh I ' m gon na put my chair up there and also.
let'' s simply enter this so pre-retirement allow ' s speak about pre-retirement I speak about this a whole lot.
since I believe it'' s among one of the most important things for individuals to comprehend before'you '
re in. retirement as'you ' re structure your family members perhaps you ' re starting your household even prior to you start. your family this is an essential area to take into consideration the very first thing that we need to do I constantly kind.
of state if you intend to be a great investor you need to save prior to you invest and also you need to in.
conserve with the purpose of investing when you invest you need to invest for cash circulation the just.
way to do that is by firstly establishing up your economic structure correct Lee and also making.
sure that you have a reserve in position I'' m a huge believer that we require to have 2 years.
of Safe Money two years of our revenue in secure money for emergency situation and chance to make sure that'' s
the. various other way I obtained down here I leapt ahead of myself a possibility fund which is what we would certainly call.
unlimited financial currently I understand I make use of infinite banking a whole lot we speak about the unlimited financial.
term a great deal that'' s a marketing term made use of for leveraging as well as properly made entire life.
insurance policy contract now I assume what I what I truly wish to wish to thrill on people for this.
is that this idea of limitless financial right here only obtains executed when you have the.
reserve marked off appropriate that you can not Execute exclusive financial or boundless financial or.
capital banking till you have your financial Structure collection which is your reserve so I.
say individuals ought to have two years of income in an account such as this in a properly created whole.
life insurance agreement since of the fact that a person of those years is for an emergency situation.
phone since the typical time it considers someone to find a job is one month for every single.
10 thousand bucks of earnings and also so if you'' re earning a hundred thousand bucks a year after that.
you require to make certain that you have 10 months of income and that'' s ordinary right and also you understand.
what it what it comes down to is I think if you earn less you wear'' t need fairly as much you take.
that do what you desire with it at the end of the day having more money uh than you assume you require.
a reserve is simply mosting likely to secure you as well as if you have way too much use it for an opportunity.
fund usage it for personal financial whatever you wish to do that'' s a great point currently exclusive uh I.
indicate shielding your family members clearly a huge offer um I'' ve had a great deal of discussions lately and. it ' s it ' s insane when when you start having these discussions with people as well as it becomes a.
routine event you know individuals are reaching out and also they'' re they ' re trying to get insurance policy. and also I connect them with my team and also uh the usual tale that'' s been taking place over the previous month.
perhaps a month as well as a fifty percent is people who are wanting insurance that can'' t get it individuals that had term
. insurance coverage as well as it'' s running out currently they'' re having health problems and they don'' t receive insurance policy
. any longer and they have youngsters or perhaps their children are gone but they have a partner that they intend to take.
care of or they have debt that you understand currently that they'' re they ' re not qualifying that that their.
their family members is entirely exposed as well as at danger and they followed the Dave Ramsey plan of simply.
getting term as well as investing the difference however currently they wear'' t have enough invested because
they'. didn ' t like have a structured enough plan to do it and after that uh also if they did their their.
need for the having the the insurance coverage to cover their debts as well as to cover their home loan as well as to.
cover their revenue if anything occurred to them uh merely isn'' t there and as well as they ' re unable. to get approved for us so ensuring that you on a assured basis have your family protected is a.
big bargain utilizing it for business reserves I'' m an entrepreneur I enjoy entrepreneurs I enjoy functioning.
with entrepreneur having access to service reserves having a barrier I I I was checking out an.
write-up going back to 2008 in the in the Great Recession right which I believe we'' re entering into.
a very similar time but going back to 2008 the Great Economic downturn 74 organizations 74 service 74 of.
services that failed were in fact successful organizations as an entire but it was simply they didn'' t. handle their capital effectively and also because of the fact that these organizations had recessions in their.
cash money circulation for short amount of times we'' re chatting 6 months they didn'' t have enough capital and.
they didn'' t have sufficient books to be able to weather that tornado so those rewarding businesses.
otherwise needed to be liquidated at Pennies on the dollar due to the fact that they didn'' t have organization reserves
. Things are going still reasonably well for many businesses my inspiration if you'' re an organization
. proprietor begin believing regarding this obtain as much money do away with right into organization reserves as possible use.
the sunny days to plan for the rainy days as well as I believe you'' ll be well benefited it from that.
making use of is vital individual insurance coverage this is a truly essential point we call this golden manacles.
we call this a great deal of different things but if you have once more you'' re a service proprietor.
using it while you'' re functioning if you'' re a business owner this is a manner in which you can use.
it to secure your organization passion to secure your organization partners it'' s a means that if you. possess a service and you have crucial workers that are crucial to your organization to protect the money.
circulation of that company and shield it is to make certain and keep individuals that help you that means if.
anything happens to them it doesn'' t disrupt your capital it shields the health as well as the.
long life of business plus you can use a plan as what we would certainly call golden handcuffs.
due to the fact that it features advantages of the cash value right as well as you can utilize those advantages with a.
vesting schedule to ensure that actually talented people that you would certainly wish to work with put on'' t leave you.
preemptively uh for the competitors as well as if they do that cash just sort of becomes your own and also that'' s. good good now living benefits this is a big one um it'' s not as frequently that this takes place when.
you have uh are in your more youthful years and have a family however living advantages if you become.
chronically uh ill if you end up being a vital treatment demand crucial care or if you become terminally.
detected with something you have accessibility to your survivor benefit while you'' re to life for choice.
Medical Treatments or for whatever you desire whatever you consider proper for you therefore I'' m. going to go over right here now and obtain into retirement article retirement because it'' s an actually important.
point we begin with this due to the fact that this undoubtedly comes to be even more suitable as we get involved in retirement.
So as we obtain into these retirement years that'' s a big offer we begin speaking regarding the truth.
that it'' s unpreventable that we'' re mosting likely to have some health obstacles in retirement if we live.
enough time so having accessibility to this uh advantage within an entire life policy is substantial which.
is a benefit that you'' re not going to get with term insurance policy when that'' s gone after that you need to.
if you put on'' t have these living benefits in your whole life plan then you need to invest money.
on various other points like impairment insurance coverage also more impairment insurance policy I wouldn'' t claim that you. should change disability insurance policy entirely or long-lasting treatment necessarily altogether if you.
were able to intend enough time uh far sufficient ago enough time ago however the lower line is most.
people didn'' t therefore possibly as you'' re getting to retirement and also you'' re believing to yourself wow.
long-term treatment now I'' m retiring in 5 six years lasting care is actually pricey I don'' t think.
I can afford it uh special needs insurance policy is not going to obtain me anywhere as I hit my retirement.
years so what can I do to help prepare well having these living benefits if you'' re sort of hitting.
that straddle age where you'' re type of ten years or so far from retirement this can be a terrific.
way to aid you achieve that by using these abrs that can fix lots of needs for you making use of.
life insurance policy is a volatility barrier I discuss this set all the time it'' s one of my fave.
subjects to speak about that markets here I'' m mosting likely to simply come below real fast markets go all.
over the map right so I'' m simply going to state allow ' s claim you you started and also your account value is.
right here and if you begin as well as the marketplace goes up and also you'' re taking revenue as well as revenue and also revenue as well as.
earnings yearly and also the marketplace'' s going up after that you'' re'great but there ' s a thing called sequence.
of return risk right so what occurs if like it'' s 2008 or 2020 in your initial year retirement in the.
initial year you'' re retiring you ' re having to take earnings and the marketplace ' s decreasing so you need to. liquidate adversely executing assets'that ' s the most awful point that you can potentially do right is to.
liquidate adversely doing properties therefore what we do is we have whole life becomes a volatility.
buffer so if you have this going into retirement as well as the Market'' s not going up instead it ' s going. down well rather than selling off adversely executing assets at this point in time you''
re. going to utilize whole life insurance policy for your revenue in down years that means it can recoup as well as you only.
take earnings out of it while it'' s executing well that helps you uh eventually remove a great deal of.
the longevity danger and the volatility risks and also as well as all things that accompany that and.
that is a really powerful powerful method that truthfully you require to have a guaranteed liquid.
obtainable account that can play that function for you in retirement otherwise you'' re mosting likely to have.
troubles there'' s no chance around it so the following point is uh tax-free wide range transfer allow'' s face. it it ' s fatality advantage right the life insurance policy part of the entire life policy is mosting likely to be. passed to the future generation on a tax-free basis that'' s important to understand most accounts are. going to have tax obligation implications rich people recognize that they don'' t desire term insurance policy. they desire entire life insurance policy because they want this to be there on a guaranteed basis when they.
die since they want to see to it the federal government obtains as little of their money as feasible and also they.
obtain tax obligation benefits and also the money more of their money mosts likely to their mistakes than the federal government as well as.
that'' s what having this is everything about eventually when you have a whole life plan it helps decrease.
the long life risk durability threat as I stated is the best risk of done in retired life due to the fact that the.
much longer you live the more possibilities you'' re going to have health dangers the longer you live the much more.
opportunities you'' re going to have Market Cycles ups as well as downs ups and downs and so you'' re going to. see these down numerous times in retired life right so you recognize that the more possibilities if you live for.
Three decades in retired life you'' re most likely mosting likely to see three times where it'' s down so the requirement for.
that volatility barrier is much more vital the longer you live the more vital this volatility.
barrier is right the longer you live the much more essential the living advantages are because the.
more probable it is that you'' re going to get unwell the tax-free uh benefit is going to exist no.
issue what yet at the end of the day whole life insurance coverage will certainly be there with you at every phase.
of your life it'' ll aid you'as you ' re trying to construct wealth it'' ll be an emergency phone it'' ll be. a possibility fund you can utilize it to spend crazes like realty and also various other capital.
possessions you can use it in retired life and it will assist you obtain living benefits it'' ll give you the. tax-free advantages it'' ll give you the volatility buffer it helps like flatten out the danger so to.
talk in everything that you have taking place and so my motivation to you is if you haven'' t thought.
concerning what an entire life plan could look like for you as a holistic perspective in your financial.
strategy right after that I would urge you to truly consider it actually take a look at at an actually.
sort of decoding do you have sufficient safe cash or are you super subjected to take the chance of particularly in a.
time like today where we'' re seeing uncertainty in the financial establishments that we''
re. seeing uncertainty on the planet in general political danger inflation danger tax risk.
the the debt threat in this nation it'' s it ' s insane therefore you need to make certain that you.
put your money right into location and you have some cash a minimum of assigned in a location that.
you have guarantees that will offer all the advantages that we simply discussed so if you.
sanctuary'' t already make certain you register for the Bell that we'' re notified every time I release.
a new video clip if you have any questions at all come in the remark section below I do my best to.
engage with every remark directly it is me that is replying to all the YouTube comments.
I don'' t consider that to any person else I take that on really seriously so hopefully you located this value.
this video clip valuable if you did please share it with people be recognized to have you uh share it and.
like it and also obtain it available the YouTube algorithm enjoys it when you do that so till next time have.
a blessed motivational day we'' ll talk quickly see ya.
