Dr. Glenn Gabai, a chiropractor in New Jersey, used bonds as a big part of his financial strategy.
“It worked very well in the beginning,” Dr. Glenn reports, “we did get out of debt and at one point had saved up to 800K in bonds.” But then interest rates dropped to where the bonds were paying less than 2%.
Feeling like this was no longer a good way to invest money, Dr. Glenn turned to other things like trading options and buying stocks. He soon realized that the inside players were making all the money.
“It seemed like we were just throwing money into the pot so that somebody else could benefit from it. So we said, ‘That’s not the way to go,’ and kept looking.”
Then Dr. Glenn came across one of Tom McFie’s articles in a chiropractic publication. He contacted Life Benefits to get more information. “After reading more and investigating the program, I realized this was something I should have been doing a long time ago. But obviously no one had told me about it before, so I didn’t really know how to do it.”
Dr. Glenn and his wife Evelyn lost no time in getting started. “We began with buying policies for ourselves. We took out the cash values and started to use that money over and over again and found that to be quite enjoyable.”
“Borrowing money from ourselves, paying back the interest and making money was just an awesome ability that we didn’t have before. We could have done it, I suppose, but we didn’t really know or understand how to do it, and that’s what Life Benefits taught us how to do.”
Shortly after getting started, Dr. Glenn and Evelyn were ready to expand. They opened policies for each of their children even though their children are grown. “By doing this, we not only got them covered, but we also set them up to be able to save money in their life insurance policy and use that money smartly.”
Dr. Glenn and Evelyn have used money from the cash values of their policies in several different ways. One of their strategies is to use their credit cards to make purchases and earn points then pay off the credit card balance using cash value from their policies.
“We also finance daily living things, which is a lot more money than most people pay attention to. By using cash values to finance the normal expenses, it frees up the money you would have used, for other things you may consider to be important.”
“We also bought a motorhome. We felt like we had no problem with the cash flow and being able to pay for that because we are managing our own money and making money off of our own money. We like to travel and go visit people we know in places that we like. With the RV it’s great because we can just pick up and go.” And pick up and go they did. In 2014 they took a trip out West visiting the Grand Canyon, 9 national parks, 5 state parks and a few monuments.
Dr. Glenn has been a chiropractor for 35 years and is passionate about helping other people. “One thing I realize,” he says, “is that Chiropractors should start this program as early as they can because when you get to the point where you’ve been in practice for 35 years, like I have, you don’t want to look back and say, ‘I spent all that money when I could have been supplying my own money and making that interest myself’.’
“I would recommend all chiropractors to do this as soon as possible because years down the road is when you get the true benefit. I started way too late for me alone… it’s still working for me, but it’s not working like I started 20 years ago.”
Last year in September, Dr. Glenn and Evelyn attended the Wealth Summit in Las Vegas and came away with an even clearer understanding of where they want to go with using the Perpetual Wealth Code™ and their policies.
Dr. Glenn says, “You have to take time off anyway. It’s really enjoyable. You can just sit there, relax and enjoy what you’re learning. It’s extremely helpful because everything’s presented in a way so that you can get a more in-depth understanding and the bigger picture.”
Dr. Glenn and Evelyn just welcomed their first grandchild, Cayleb, last year in November. “Being a grandfather is the easiest job I’ve ever had,” Dr. Glenn says. “I just hold him, and if he gets upset I give him to my wife or my daughter-in-law! It’s great to see your future through the eyes of your child and grandchild. But even more important is watching my son become an experienced daddy.”
Dr. Glenn Gabai
Sources: Dr. Glenn & Evelyn Gabai, and the Living Richly newsletter 2016