Those who are misinformed or ignorant about the facts surrounding fees, interest and taxes will suffer the consequences.  People are destroyed for lack of knowledge. This is true in all areas of life but particularly when it comes to finances. One example of this is the common use of average rates of return by financial …

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Have you ever wondered if you could access the money in a 401(k) plan to use for other purposes before you actually retire? It is possible, but there are limitations to accessing money in any tax-qualified plan. You see, some of the money in these plans, is really the government’s money because you haven’t paid …

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As Nerdwallet.com reports, “First there was LEAP, then there was Infinite Banking, also known as Becoming Your Own Banker. Now it’s Bank on Yourself by Pamela Yellen.” All of these books turned into viral life insurance strategies. In essence, each of these different sales programs attempts to accomplish the following by selling a permanent life …

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What is a Financial Advisor? A financial advisor is a professional who is registered with the state, or the SEC, to provide information and counsel to those who are trying to reach a monetary goal or objective. This goal or objective may be retirement, or merely an attempt to earn a specific return on investment. …

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The entire concept of Becoming Your Own Banker is based on capturing the money lost when you finance something.  Of course, we finance everything we purchase in life by losing the interest we could have earned when we pay cash, or by paying interest to others when we borrow to make a purchase.  Outrageously, we …

Continue reading “Building Sustainable Wealth: Who Keeps the Interest and Principal You Pay?”

More than two-thirds of college students had to take out some form of student loan during their time in college in 2019. However, just because you take out student loans doesn’t mean you have to be stuck with them for the next ten-plus years.  Whether you have $10,000 in student loans, or $100,000, or more, …

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As of June 2021, it was refreshing to see that action was being taken against an agent/financial planner who claimed to be helping clients practice the Infinite Banking Concept (IBC) by accruing retirement savings in variable annuities and variable life insurance policies.  Among many other things, this agent/planner was selling insurance products by recommending clients …

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According to a 2021 CNBC report, the average American has $90,460 of debt! Which brings up the question…what happens to your debt when you die? How debt is handled after death depends on the type of debt, where the person lived, and how much money is in the estate. Here’s everything you need to know …

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Even though Facebook flagged this post: “Joe Biden wants to get rid of something called ‘stepped up basis’ that reduces inheritance taxes” It’s true. Biden wants to eliminate the stepped-up basis.  So, what does this mean for you? It means that if you inherit stocks, bonds, real estate, a business, farm or any other asset, …

Continue reading “Whole Life Insurance Can Protect You Against the Elimination of the Stepped-Up Basis”

May 21, 2021 will always be a day that will be remembered in our family.  And the reason why is twofold. It was the day 6 of us, along with a couple cousins, hiked the Grand Canyon from North Rim to South Rim in one day. It was the day one of us almost didn’t …

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