In this candid conversation, Pamela Yellen really lets her hair down and reveals things about herself she’s never talked about before.
What kind of driver is Pamela?
In this interview, you’ll learn…
- Pamela’s early investing mistakes
- How she first learned about the Bank On Yourself method of wealth building
- How Walt Disney, J.C. Penney and other influential people have used this method
- Why Banks use this to meet their Tier One (safe and liquid) Capital reserves requirement
- Why Bank On Yourself Advisors earn much lower commissions than other forms of life insurance sales
- Why this concept is not included on insurance licensing exams
Pamela & her husband Larry
- Bank On Yourself “Inc.” doesn’t sell insurance or charge consumers anything…so how does it make money?
- Introducing the Bank On Yourself Nation…soon to be the center of the universe when it comes to financial literacy education and learning to be self-reliant
So checkout this fast-paced interview now by pressing the play button below, or you can download the interview as an Mp3 and listen on your own player or iPod…
Podcast: Play in new window
And if you still have any unanswered questions about Bank On Yourself or Pamela Yellen, please tell us in the comments box below…
Grow your money safely and predictability even when the markets crash…
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Request a free, no-obligation Analysis now to find out. When you request your Analysis you’ll also get a referral to one of only 200 financial advisors in the country who have met all the rigorous requirements and training needed to be a Bank On Yourself Authorized Advisor.
I have read the information and watched the video and still am not really sure how this works. What I mean is this is an insurance policy that you take out and then are able to draw from that if I understand this correctly. My question then is you have a monthly premium to make on this policy, correct? If you then draw from this policy in the form of a loan that needs to be paid back, then you are paying two payments per month or however you decide to repay the loan you have taken plus interest to yourself. If you are paying a monthly premium and a loan payment how does this make any money? I have a loan payment to pay back on one of my policies that continues to have a monthly premium payment. What am I missing in this new concept? Could you please explain?
Thank you
One way to think of this is if you were funding any traditional retirement plan, like a 401k or IRA, and you decide to buy a car, do you stop funding your retirement account so that you can pay back the loan on your car?
Of course you wouldn’t. if fact, if buying a car and incurring monthly loan payment means you have to stop funding your retirement plan, you can’t afford to buy that car.
I explain how all of this works in my best-selling book on pages 100 – 103, and in chapters 5 & 6.
If you listen to Pamela’s interview she mentions that within 30 days you can even pull some of your cash value out of the policy to use as you see fit and the only question the insurance company will ask is, “How much?” I read Pamela’s book, filled out the analysis form, she recommended a BOY advisory, I liked what they had to say, got a policy, and once it was set up we were able to pull our money out, re-decorated the upstairs of home and am now paying ourselves back increasing our cash value even more. We are living proof this is the real deal!!
Pamela, I want to thank you for being so open and forthright in your interview. It can be hard to admit some of the things you did, but makes the end result and your passion about BOY that much more real. To a much smaller scale, I feel like I have experienced a similar story – trying to “do the right thing” by my savings and investing and watching a lot of it disappear because others were doing the wrong thing. When I discovered BOY I thought this thing must be too good to be true, but it really is what it says it is and it has worked exactly as described for me (thanks to my Adviser). Since it doesn’t claim to be any kind of get-rich-quick scheme, it can actually deliver what ends up being a miracle for many folks.
I am looking forward to hearing more about Bank on Yourself Nation!
Hi Pamela,
The interview was helpful. It answered the question of why you can’t make any recommendations and, why the specifics of the financial plan construct will necessarily be very different for all of us.
I was contacted by Bruce (financial planner) virtually the day following my online request. My wife and I will be having an in-depth discussion after I’ve had a chance to skim (at least!) your book. If this works out well I plan to share with our children.
Regards,
John