Is There a Safer Place for Your Money Than in a Bank?

The problems at Silicon Valley Bank, Credit Suisse, and First Republic Bank are fueling anxiety for people who want to make sure their money in banks and money market funds is safe.

Adding to the fear that this may just be the tip of the iceberg is that banks borrowed a record amount from the emergency last-resort support the Federal Reserve set up in the last week.

So, it’s not surprising people want to know how safe their money is in a Bank On Yourself plan. Read on for the answer. And, since you must “park” your money someplace, I’ll also explain why you would be hard-pressed to find a safer, more advantageous place to put your dollars – in good times or bad – than in a Bank On Yourself plan.

These super-charged dividend-paying whole life policies have survived and even thrived for over 160 years in virtually every economic situation imaginable!

During the Great Depression, over 9,000 banks failed, wiping out the life savings of millions of depositors. However, there is no documented evidence that any life insurance policyholder lost money. In fact, these policies were the life raft that saved many people from financial ruin during the Great Recession and the Great Depression.

Since you have access to the cash value of your policy whenever and for whatever you want – no questions asked – having your money safe and liquid in a dividend-paying whole life policy doesn’t take away any of your options. In fact, it gives you more options, especially when the you-know-what hits the fan.

And if your policy is from one of a handful of companies that offer this feature, you’ll get the exact same growth even when you’ve taken money from your policy to use elsewhere. That means you have access to cash to cover an emergency, buy a car, or take advantage of an opportunity…and still have your money growing as though you hadn’t touched it.

3 Reasons a Bank On Yourself Plan is the Best Place to Park Your Money…

Reason #1: Strict Regulation and Four Layers of Protection

  • Life insurance companies are audited regularly by the state insurance commissioner’s office (sometimes by dozens of states) to ensure they maintain sufficient reserves to pay future claims and are on solid financial ground
  • If a company gets into financial difficulty, the state insurance commissioner’s office can take over and run the company in the interests of policyholders. Historically, a failed insurer’s business is then taken over by another company
  • Most insurance companies are audited regularly by several independent rating companies
  • Additional policy owner protections may be available on a state-by-state basis

Reason #2: Sound, Conservative Investments

The companies used by the Bank On Yourself Professionals invest conservatively to be able to deliver on their promises:

  • Most of their portfolio is invested in investment-grade fixed-income assets
  • Less than 1-2% is invested in U.S. Treasury or other government debt
  • Their bond portfolios are well diversified across many industries and companies, with no investment representing more than 1% of assets
  • Due to their financial strength and reserves, they can hold on to any assets that may decline in value for many years until they recover
  • They are masters at under-promising and over-delivering and have NEVER missed paying an annual dividend to policy owners for more than 100 years, including during the Great Depression, the Great Recession, and every single period of economic tumult in between!

Read: The Safety of Bank On Yourself – A Strategy for Any Economy

Reason #3: The Companies are Owned by Policy Owners, NOT Stockholders

The companies the Bank On Yourself Professionals recommend when they design a custom-tailored program for you are owned by policy owners, NOT stockholders, which allows them to focus on the long-term best interests of the policy owners rather than the short-term demands of Wall Street. And – unlike on Wall Street – you can know the bottom-line, guaranteed numbers and results you could enjoy when your request a free, no-obligation Analysis here:


Perhaps this analogy will help explain the difference between whole life as a wealth-building vehicle and most other products and strategies favored by the financial talking heads…

On the freeway, can you spot the difference between a teenage boy putting daddy’s hot sports car through its paces, and a young suburban mother in her minivan taking two kids to play soccer, with a toddler buckled in a car seat? One driver is trying to get somewhere fast while the other is getting to her destination while doing everything possible to protect those who are near and dear to her. If you understand that difference, then you can sense the difference between the Wall Street Casino and the life insurance industry.

Take Action TODAY to Safeguard Your Wealth and Avoid Having Your Retirement Dreams Turn into a Retirement Nightmare

You might be tempted to put this aside and “think about it all tomorrow” when things settle down. But “tomorrow” all too often turns into months and years. I would hate to have you wake up 2, 5, or 10 years from now – when the next financial crisis scuttles your best-laid plans again – thinking, “Heck, I really should have looked into that Bank On Yourself thing.”

Why not do it RIGHT NOW. Request your FREE Analysis and referral to a Bank On Yourself Professional here.

The Bank On Yourself Professional we refer you to can answer all your questions and show you how you could gain lifetime financial peace of mind with a program custom-tailored to your unique situation.

Don’t wait another moment. Click the button below to get started:


The 5 Biggest Financial Threats You Face in 2023

As the New Year gets underway, it’s good to set goals and make plans – but it’s also important to review the biggest threats you face.

Here are the top 5 threats to your financial future in 2023…

Threat #1: 2023 Recession

If you had money in the stock market, you know how bad 2022 was. The S&P 500 lost nearly 20%, and the average 401(k) lost 22.9%. Seeing one-fifth of your life savings vaporize in a single year is a hard pill to swallow.

And after having the worst year in the markets since the 2008 financial crisis, it’s only natural to want to put that behind us and move on. However, what we want to happen and what is happening are two different stories. Economists surveyed by Bloomberg see a 70% chance of a recession in 2023 – which means it’s very likely things will get worse before they get better.

Threat #2: High-Interest Rates

Interest rates are at their highest level in 15 years – and will likely climb higher as the Fed continues to fight inflation. This means that your bank is going to charge you two arms and two legs now if you need to finance a purchase. And if you’re not careful, these high-interest loans can quietly sabotage your nest egg.

Thankfully, there’s a better way – a Bank On Yourself plan gives you fast access to cash with NO questions asked, without the high-interest rates. You can use the money for whatever you need without penalties for accessing it. And you can pay it back when and how you want.

Threat #3: Outdated Retirement Withdrawal Advice

Many people are still following outdated retirement planning advice. For example, the “4% rule” – which meant you could safely withdraw 4% from your retirement account each year – is no longer valid.

The current recommended annual retirement withdrawal rate is just 2.8% – which gives you a 90% probability of having your money last for 30 years.

So, if you had a $1 million nest egg, it would provide you with only $28,000 a year. What kind of lifestyle do you think that would give you? Does it even cover your basic expenses, let alone allow for any of life’s luxuries?

And don’t forget that if you’re saving in tax-deferred accounts like 401(k)s and IRAs, taxes will devour at least one-third of that. Which brings us to…

Threat #4: Postponing Taxes Until Retirement

If you have an IRA or a 401(k), you were probably told those are good ways to lower your taxes. And yes, your contribution does lower your taxable income today. But those government-controlled retirement plans do not allow you to avoid paying taxes. They merely postpone your tax bill until retirement.

Based on current tax rates, you’ll owe 25-50% – or more – of your savings when you take withdrawals from these plans. And when tax rates inevitably go up due to our country’s exploding debt, the largest fiscal stimulus programs in history, and aging demographics, you’ll need to be prepared for an even higher tax bill.

The good news is there are steps you can take NOW to reduce or even eliminate income taxes on your retirement withdrawals. The first step is to stop thinking that your government-controlled tax-deferred retirement plans will help. Your next step is to request a FREE, no-obligation Analysis here now. You’ll get a referral to a Bank On Yourself Professional who can show you better options.


Threat #5: Outliving Your Savings

The typical 65-year-old will outlive their savings by 10 years, according to a study by the World Economic Forum. It assumes you will live an average lifespan. If you’re one of the “lucky” ones who does live longer, you could outlive your money by 25 years or more.

Take Richard Seymour, an 88-year-old retiree who lives with his 87-year-old wife in Maryland. He says, “Although I’m glad we’re alive, I’m scared to death…because we’ve outlived our money.”

Richard was confident they’d be ok with just a 6% average return on investment, knowing he and his wife also had Social Security, Medicare and supplemental health care insurance. “Ours was a fail-safe plan. Man, was I ever wrong,” says Seymour. “We now have no income other than our Social Security benefits.”

How Do You Avoid These Financial Threats?

Sadly, stories like this are far too common. I’ve personally investigated over 450 financial products, strategies, and methods touted as “fail-safe plans.” Most weren’t even worth the paper they were printed on.

This is why I founded Bank On Yourself in 2002. I wanted to ensure people achieve lifetime financial security and never outlive their money. There are safe and proven wealth-building strategies that give you all these benefits and more…

  • Guaranteed, predictable, competitive growth every year – no matter what’s happening in the markets or the economy (all Bank On Yourself plans hit a new record high in 2022 and are on track to do that again in 2023)
  • You can tell banks to take a hike and become your own source of financing… you can even use the money in your plan to buy something or to invest elsewhere, and your plan can continue growing as though you never touched it
  • You get tax-deferred growth and can take a retirement income with no taxes due under current tax law, which lets you avoid tax surprises down the road
  • Because the growth in these plans is exponential and your premium is guaranteed never to increase, you enjoy some built-in protection against inflation
  • There are guaranteed lifetime income strategies that ensure you never outlive your money, no matter how long you live

The Ultimate Financial Security Blanket in Both Good Times and Bad®

It’s easy to find out how to protect your nest egg from the biggest threats today.

In a 15-minute no-obligation introductory call with a Bank On Yourself Professional, you’ll discover how you can benefit from a custom-tailored program. And then you can decide whether you want to implement it or not.

Take action today to ensure your retirement dreams don’t turn into retirement nightmares:


The Secret to Eliminating Your Financial “Icks” in 2023

Two-thirds of Americans intend to make a financial New Year’s resolution for 2023, but only 20% are confident they’ll be able to keep their resolution.

That’s according to a new survey from The Ascent, a Motley Fool service. It’s not surprising why. It’s been a very challenging year, and everybody’s got a case of the financial “icks.”

In a year that many would just as soon forget, a few of the “low lights” include…

A Majority of People Worry about Money Daily, and Many Lose Sleep Because of It

[Read more…] “The Secret to Eliminating Your Financial “Icks” in 2023″

Social Security’s Big Cost of Living Increase (COLA) Means MORE Taxes to Pay

I just turned 70…

Which means I’ll be receiving a special “birthday gift” from Uncle Sam for the first time.

Yes, I’m talking about my first Social Security check.

Even though I could’ve started taking Social Security eight years ago, I decided to wait until now since I’m still working and don’t need the money now.

Which is great because now I’ll get the maximum amount possible.

So, I’m glad I waited…

And I was even happier when I heard that in January, we’ll see an 8.7% increase in our Social Security checks with the cost-of-living adjustment (COLA) – the largest increase since 1981.

On the surface that sounds like great news, right? I mean, who wouldn’t want a bigger Social Security check?

However, the devil is in the details, especially when it comes to retirement income, government benefits, and taxes!

[Read more…] “Social Security’s Big Cost of Living Increase (COLA) Means MORE Taxes to Pay”

When Does Taxation Become Theft?

In his first 100 days in office, President Biden unveiled three colossal spending packages earning him the nickname, “The Six Trillion Dollar Man.”

Biden and Congress are just getting started with the most massive expansion of government since FDR’s New Deal during the Great Depression. Apparently, it’s desperately needed, even though the pandemic-caused recession is over.

This is a government that is notorious for wasting hundreds of billions of our hard-earned dollars every year. Think $518,000 to study how cocaine affects the mating habits of Japanese quails, $998,798 to ship two 19-cent washers from one state to another… and the list goes on. You couldn’t make this stuff up if you tried!

And let’s not forget this is a government with a long history of not being able to make much of a dent in controlling fraud and abuse. The government admits that more than $134 billion of improper Medicare and Medicaid payments were made in 2020 alone – and that’s just one government agency. [Read more…] “When Does Taxation Become Theft?”

A Surprising Solution to the 15-Year vs 30-Year Mortgage Dilemma

Jon and Jen have an opportunity to buy their dream home and lock in a historically low interest rate. This is a pretty common scenario in today’s market. In fact, you may be thinking about buying a home or refinancing your mortgage to take advantage of today’s low rates. If so, here’s a powerful option to consider…

Jon and Jen are trying to decide whether a 30-year mortgage or a 15-year mortgage makes the most sense. Their mortgage broker showed them that even with an interest rate just 0.65% lower, the 15-year mortgage would save them almost two-thirds of the interest of a 30-year loan.

They decided the 15-year mortgage made the most sense. Their thinking was, “We’re both 48 now, and we plan to work until we’re 70. The sooner we get the house paid off, the sooner we can save more for the future. Plus, we really like the idea of saving almost $90,000 in interest.” [Read more…] “A Surprising Solution to the 15-Year vs 30-Year Mortgage Dilemma”

New Survey Reveals Majority of Americans Now Live Paycheck-to-Paycheck Due to COVID-19 Pandemic… Here’s How to Avoid That

A new survey from Highland Solutions revealed some startling stats about Americans’ spending habits during the pandemic. How many of these describe your situation?

  • 63% are living paycheck to paycheck
  • 47% have run out of their emergency savings
  • More than one-third have opened up a new credit card since the pandemic to help cover expenses
  • 42% have taken on more debt than normal, and nearly a third have racked up over $10,000 in new debt (a recipe for disaster)
  • 82% could not cover a surprise $500 expense
  • 67% regret not having enough savings before the pandemic hit

So How the Heck Did We Dig Ourselves into this Debt Hole?

For starters, you only need to look no further than the conventional advice about emergency funds. [Read more…] “New Survey Reveals Majority of Americans Now Live Paycheck-to-Paycheck Due to COVID-19 Pandemic… Here’s How to Avoid That”

Why More Experts Are Now Saying It’s Time to Ditch Your 401(k)

A growing number of retirement planning experts are joining the chorus of people saying 401(k) plans no longer make sense for savers in recent articles on Motley Fool, Bloomberg, MarketWatch, and other major publications.

They’re lamenting that one of the biggest appeals of the 401(k) – the ability to make contributions with untaxed dollars in exchange for tax-deferred growth and withdrawals – is disappearing.

The national debt was already skyrocketing before the pandemic spurred the biggest fiscal stimulus programs in history. And a surge in unemployment has lowered tax revenue for federal and state governments.

What do governments typically do to counter budget deficits?

They raise taxes, of course!

And as taxes rise, deferring them in a 401(k) or IRA means you’ll pay more later – potentially a lot more.

Even before the pandemic, the Center for Retirement Research said people lose 25%-33% of the value of their 401(k) to taxes… and most people are shocked when it happens because they forget they’ll owe the IRS taxes on every penny they’ve put in and every penny of growth they’ve deferred.

Do you know what the tax rates will be in 20 or 30 years from now? For that matter, do you know what they’ll be next year or in two years?

[Read more…] “Why More Experts Are Now Saying It’s Time to Ditch Your 401(k)”

Pros, Cons and Why the SECURE Act WON’T Make Your Retirement More Secure

The SECURE Act of 2019 is supposed to help more Americans save for retirement. The new legislation will have an impact on retirement plans – and not all of them are good.

In December of 2019, Congress passed H.R.1994 – the SECURE Act of 2019 – which contains the most sweeping changes to government-controlled retirement accounts – such as 401(k)s, 403(b)s, and IRAs – in more than a decade.

The SECURE legislation – which stands for “Setting Every Community Up for Retirement Enhancement” – put into place several provisions supposedly intended to strengthen retirement security.

Not surprisingly, the financial services industry spent many millions of dollars lobbying Congress to ensure passage.

So is the new legislation in your best interests? Is the SECURE Act really likely to increase your retirement security?

[Read more…] “Pros, Cons and Why the SECURE Act WON’T Make Your Retirement More Secure”

Shhh! Your Bank Has a “BIG” Dirty Little Secret – it Could Crush Your Retirement

Who can forget those dark days of the housing market crash of 2008? The vacant homes and neglected lawns.  The abandoned swing sets and forgotten barbecues. The bright signs and bold arrows that needed little explanation: “Foreclosure.” “Auction.” “Bank Owned.”

We’re told that the housing bubble and collapse was about predatory lending and high-risk borrowers who were duped into loans that they couldn’t afford. The massive regulatory response to the subprime crisis meant that banks were no longer allowed to behave BADLY… so they chose to behave DIFFERENTLY.

Shhh. Your Bank Has a “Big” Dirty Little Secret. Read this Very Carefully…

The largest source of mortgage lending in the United States is now being done by non-banks – financial entities that offer unsecured personal lending, business loans, leveraged lending, and mortgage services… but do not hold a banking license. As a result, they’re not subject to standard banking oversight and can engage in risky lending.

But where do they get the money to make these loans? You guessed it: Wells Fargo, Citibank, Bank of America and everyone else who got their hands dirty ten years ago. [Read more…] “Shhh! Your Bank Has a “BIG” Dirty Little Secret – it Could Crush Your Retirement”