Bank On Yourself – a Financial Bunker for Scary Times

These are unprecedented times we find ourselves in, and there is no historical playbook for navigating them.

The Coronavirus has turned the financial markets upside down, and the experts are bemoaning the fact that there’s “been no place to hide,” including the traditional “safe havens.”

However, none of the hundreds of thousands of people who use the Bank On Yourself strategy lost a penny as the markets careened out of control. Their plans haven’t skipped a beat and continue growing by a guaranteed, predictable amount, just as has happened every year for the last two centuries.

Their annual increases are guaranteed to get larger every year, and all of their principal and ALL of the gains they have ever received are locked in. These plans do not go backward.

They also have access to the equity in their plans to help them weather the extraordinary challenges they face today – with no restrictions, no penalties, no taxes due… and no questions asked!

Let’s take a look at three ways Bank On Yourself is your best financial bunker in scary times:

Bank On Yourself Has a 200-Year Track Record of Positive, Guaranteed, Competitive Growth

This strategy relies on specially designed high-cash-value, low-commission, dividend-paying whole life insurance. It’s nothing like the kind most financial advisors know about.

Out of nearly 1,000 life insurance companies, only a handful offer policies that meet all the requirements to maximize the benefits you receive. The companies preferred by the Bank On Yourself Authorized Advisors:

  • Are among the financially strongest in the country, are highly regulated, and have a multi-layer safety net
  • Are owned by policy owners, NOT stockholders, which means they focus on the long-term best interests of the policy owners rather than the short-term demands of Wall Street
  • Have been in business and have paid dividends every single year for at least 100 years
  • Allow you to borrow against your cash value while continuing to pay you the same dividend as though you never touched a dime of it

To get a referral to a Bank On Yourself Authorized Advisor who knows which companies are the best to use and has passed the rigorous training to know how to structure your policy to maximize the growth and minimize your taxes, 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 can understand that difference, then maybe you can sense the difference between the Wall Street Casino and the life insurance industry.

With a Bank On Yourself-Type Policy, You Don’t Have to Die to “Win”

Unlike term insurance, Bank On Yourself policy owners enjoy numerous living benefits, including one that some consider to be the “8th Wonder of the World” – policy loans.

You can borrow against your cash value in the policy at any time and for any reason, regardless of your credit rating. The only questions you’ll be asked are how much do you want and where do you want it sent.

You can set your own repayment schedule and skip payments if needed, without fear of collection calls, repossession, or dings on your credit report. You can pay back the loan when you get back on your feet.

This feature was the life raft that saved many people from financial ruin during the Great Recession and the Great Depression.

Check out our Consumer Guide to Policy Loans, which answers the most frequently asked questions about this feature.

Although the Living Benefits are Phenomenal, it Also Comes With a Death Benefit that Provides a Safety Net for Your Loved Ones

The Coronavirus has served to remind all of us of our mortality – regardless of age.

The death benefit of your policy is likely to be many times greater than the premiums you paid and many times greater than your cash value. It pays the death benefit if the insured person passes away for any reason (other than suicide in the first two years).

It’s been reported that there has been panic shopping for life insurance since the Coronavirus became widely known.

Please note that neither age nor poor health need to be obstacles to qualifying for one of these policies because you can have someone else you have an “insurable interest” in (a spouse, child, grandchild, parent or business partner) be the insured. As long as you are the policy owner, you control the policy and the money in the policy.

However, it does take a little time to go through the application process, and most of the time, a medical exam will be required. And there is talk that insurance companies may soon institute stricter guidelines, coverage exclusions and premium increases, so it’s important that you get your application in now because the terms of a policy already submitted or issued cannot be changed. Premiums can’t be increased, either.

Which means the very best time to apply for a policy is TODAY – because who knows what the future may bring?

Having a significant portion of your savings safe and liquid in a Bank On Yourself-type policy only gives you more options, not fewer – especially when the you-know-what hits the fan.

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 “get back to normal.”

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 “Black Swan Event” scuttles your best-laid plans again – thinking, “Heck, I really should have looked into that Bank On Yourself thing.”

So take action RIGHT NOW. Request a FREE Analysis and referral to a Bank On Yourself Authorized Advisor here.

The Bank On Yourself Authorized Advisor 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 this button to get started:

Are You Cruisin’ for a Bruisin’? Americans Are Spending Money They Don’t Have and Hitting Record Debt Levels

Total U.S. household debt just surpassed $14 trillion for the first time ever, and credit card debt hit a new record, as well. These scary debt stats come from the latest report from the Federal Reserve Bank of New York.

As economist Heather Boushey noted… “In the abstract, more debt signals optimism. But in reality, families are using debt as a mechanism to pay for things their incomes don’t support.”

The optimism comes in because the stock market can’t seem to stop hitting new records, and the economy is prospering, so it’s time to spend, spend, spend – even if it’s money you don’t have.

Then the reality sets in as 8.36% of credit cards are now delinquent. Almost 5% of auto loans are at least 90 days overdue. And at least 12% of student loan borrowers are delinquent or in default.

For the moment, let’s ignore the fact that most people have forgotten that the balances in your market-based retirement accounts are “paper” – not “real” – wealth which will vanish with the next market crash.

Let’s focus instead on the lessons most people have forgotten from the last debt crisis. Americans were feeling flush from rising stock market and real estate values, and they were in hock up to their eyeballs.

Then the Bubbles Burst and…

[Read more…] “Are You Cruisin’ for a Bruisin’? Americans Are Spending Money They Don’t Have and Hitting Record Debt Levels”

The New “Magic Retirement Savings Number”: $3 Million or More

If you’re like a lot of people, you may have a goal of saving $1 million for retirement.

After all, that would make you a “millionaire” and should give you a comfortable retirement lifestyle, right?

Not so fast, according to a number of retirement planning experts cited in an article last month in Fortune magazine.

It’s time for a dose of reality, the experts say: You now need to save $3 million – or more – to enjoy a decent retirement lifestyle.

Here Are 3 Reasons Why $3 Million is the New $1 Million When it Comes to Saving for Retirement…

Reason #1: That $1 million number was never adjusted for inflation or corrected for today’s low-interest-rate environment.

[Read more…] “The New “Magic Retirement Savings Number”: $3 Million or More”

Case Study: Enjoy a Guaranteed Lifetime Income and Reduce Your Taxes in Retirement

Tom Justice is a 59-year-old chemical engineer who has three major concerns about his retirement plan…

His first concern is about outliving his retirement savings

He’s read the statistics and knows that in spite of experiencing the longest bull market in history, the average 65-year-old will outlive their savings by almost a decade, according to the World Economic Forum.

Tom doesn’t have anywhere near the amount of savings recommended by many experts. According to the “Rule of 25,” you should have 25 times your total annual expenses saved by the time you retire if you don’t want to run out money.

Tom wants to live on at least $100,000 a year, which means he needs at least $2.5 million saved up. And that’s a far cry from the $750,000 he’s managed to save in his 401(k)… and it’s all invested in a stock market that he knows is past due for a major market crash.

Tom’s second concern is he believes tax rates can only go up over the long term

[Read more…] “Case Study: Enjoy a Guaranteed Lifetime Income and Reduce Your Taxes in Retirement”

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”

Four Helpful Tips for Keeping New Year’s Resolutions to Spend Less and Save More

It probably won’t come as a surprise that the two most common New Year’s financial resolutions are to save more money… and to spend less.

And it also should come as no surprise that most New Year’s resolutions have been abandoned by Valentine’s Day – if not sooner!

So I thought this would be a great time to give you some tips to help you stick with it.

Let’s start with tips for spending less money because if you don’t spend less, it’s very difficult – or impossible – to save more.

Tip #1 for Curbing Spending: Get the Right Budgeting Program

I know, I know! The moment many people even hear the word “budget,” they get turned off because the word conjures up “deprivation,” just like the word “diet.” But hear me out… [Read more…] “Four Helpful Tips for Keeping New Year’s Resolutions to Spend Less and Save More”

3 Reasons Why the Money in Your 401(k)/IRA Doesn’t Belong to You

If you get regular account statements, you probably know the approximate current value of your 401(k) and/or IRAs, so please write that total down now.

Do you think all that money belongs to you?

It doesn’t… and what people find most surprising is how little of your account value actually does belong to you.

3 Reasons the Money in Your 401(k) Doesn’t Belong to You…

Reason #1: You May Not Be Fully Vested

[Read more…] “3 Reasons Why the Money in Your 401(k)/IRA Doesn’t Belong to You”

The Wall Street Journal Podcast Interview with Pamela Yellen: The Biggest 401(k) Mistake People Make

I was just interviewed again by the Wall Street Journal for an episode of their “Your Money Briefing” podcast.

The episode is described as, “Financial security expert Pamela Yellen explains why employees should take control of their 401(k) retirement investments and not rely on their employer to invest for them.”

In this eye-opening interview I discuss:

  • Why it’s very likely that your 401(k) money is in a Target Date Fund (TDF) – even if you didn’t authorize it or request it – and three reasons that should concern you
  • 98% of all employers use TDFs, and 90% have it as the “default option,” which means they automatically put your money there unless you specifically direct them to do otherwise – and almost no one does
  • Near retirement? You’re not protected! TDFs are supposed to dial back risk as you near retirement, but in practice, that hasn’t happened. In 2008, some TDFs designed for participants expecting to retire in two years lost as much as 40%!
  • How the shockingly high fees of TDFs devour your hard-earned savings
  • The dangers of having your retirement savings in a one-size-fits-all financial vehicle
  • How to quickly and easily do your own research to compare the mutual fund options your 401(k) offers
  • How to protect your retirement savings from market volatility and ensure a guaranteed income for life

[Read more…] “The Wall Street Journal Podcast Interview with Pamela Yellen: The Biggest 401(k) Mistake People Make”

Can You Answer This Critical Question About Your Retirement Plan? (Most People Can’t)

Here’s the most critical question you must be able to answer about your retirement plan…

Do you know what your retirement account(s) will be worth on the day you plan to tap into them?

If you’re saving for retirement the way most people do, you couldn’t answer this question if your life depended on it!

And When You Get Right Down to it, Your Life Does Depend on it!

Here are three reasons why… [Read more…] “Can You Answer This Critical Question About Your Retirement Plan? (Most People Can’t)”

The Wall Street Journal Podcast Interview with Pamela Yellen: Why You Won’t Work as Long as You Planned

I was recently interviewed by the Wall Street Journal for an episode of their “Your Money Briefing” podcast.

The episode is described as, “Financial security expert Pamela Yellen explains why most people stop working earlier than planned, and offers safe investment tips to reduce the chances of running out of money in retirement.”

In this interview I discussed: [Read more…] “The Wall Street Journal Podcast Interview with Pamela Yellen: Why You Won’t Work as Long as You Planned”