October was one of the most volatile months for the Dow since 1900. Back then, we were hopping on the first electric buses in New York City and enjoying a new kind of sandwich called a “hamburger” in New Haven. And, we were piling onto an early “Loop the Loop” roller coaster on Wall Street.
Fast forward to October 2018… and enter the Zero-G Inversion Coaster. The Dow fell by over 1,000 points in two days. The S&P 500 dipped in and out of correction multiple times. The Nasdaq plummeted 700 points mid-month, soared over 300 points the next week, and then tumbled back down over 500 points toward month-end. It comes as no surprise that the Fear Index also hit a 3-month high.
It wasn’t Halloween that spooked the markets last month…
Investors had plenty to fear with trade wars, tariffs, rate hikes, Fed policy, underwhelming earnings, slumping housing data, and political partisanship run wild. And as the sugar high of tax cuts, low interest rates and low inflation wears off, there’s a pervading sense that we’ve reached some sort of flashpoint.
What keeps economists up at night? One very sobering question:
What if This Economy is “as Good as It Gets”?
[Read more…] “October 2018 Was Among the Most Volatile Month for Stocks in 118 Years”
There are a lot of misconceptions about the meaning of Bank On Yourself. Some folks think it’s just glorified whole life insurance. Others think Bank On Yourself is merely the name of a book.
So, the Bank On Yourself team has created two separate articles. The first explains what Bank On Yourself is, and the second explains what it is not.
What Bank On Yourself Is
Our article on What Is Bank On Yourself? explains that Bank On Yourself is a safe wealth-building strategy – one that puts you in charge, by showing you how to fire your banker, bypass Wall Street, and take back control of your finances. That’s the meaning of Bank On Yourself in a nutshell.
But the article also discusses the benefits of the Bank On Yourself concept. We explain that Bank On Yourself is also the name of our company, and the words “Bank On Yourself” are in the titles of two New York Times best-selling books by Pamela Yellen.
What Bank On Yourself Is NOT
[Read more…] “Setting the Record Straight on What Bank On Yourself Is – and Isn’t”
Take a moment and think about how much savings you’ll need in retirement.
Write that number down.
Now here’s a reality check: That number is probably low.
Not because of your math skills, but because most people underestimate what their costs will be in three critical ways.
A new study found that 37% of retirees say their overall retirement cost estimates turned out to be low.
And when it comes to healthcare, 44% of retirees said they’re facing higherx costs than they expected. (Source: 2018 Retirement Confidence Survey by Employee Benefit Research Institute)
Three Ways You’re Probably Underestimating Your Retirement Expenses…
#1. Assuming you’ll spend less in retirement than when working
[Read more…] “3 Key Ways You’re Underestimating Your Retirement Costs”
Navy Commander … physician … salesman … retired NFL record-holder … what do they all have in common?
They are all happily using the Bank On Yourself safe wealth-building method to either beef up or even serve as the foundation of their retirement savings plans. And these are just four of the hundreds of thousands of satisfied Bank On Yourselfers.
The Bank On Yourself strategy uses specially-designed dividend-paying whole life insurance to create a secure savings plan. The policies grow by a guaranteed and pre-set amount every year. The growth is exponential, meaning it gets more efficient every year the policy is held, providing peak growth at the time many people need it most – retirement.
And what’s not to like about Bank On Yourself? Guaranteed growth … accounts that never go down in value … incomparable tax benefits … and no government restrictions on putting money in or taking money out. Read on for the straight truth from actual Bank On Yourself clients …
Bank On Yourself Reviews, in Their Own Words
Here are the stories of Bob Chambers (Navy commander), Dr. Bryan Kuns (physician), Lowell Warner (sales professional), and Glyn Milburn (retired football star) …
Bank On Yourself Retirement Planning Is About More Than Money … It’s About Financial Independence … Lifestyle … and Legacy
[Read more…] “Is There A Good Alternative for Retirement Savings? See What These Bank On Yourself Reviews Say”
The Bank On Yourself strategy is much more than just another way to save for retirement. Think about it: If you’re firing your banker, bypassing Wall Street, and taking back control of your own financial future – you’re literally changing your life!
You can see Bank On Yourself video reviews on YouTube. Bank On Yourself really does continue to change lives, as folks of all ages and incomes have discovered.
More than half a million families and businesses use the Bank On Yourself strategy – based on using super-charged dividend-paying whole life insurance – to reach their short-term and long-term financial goals, without taking any unnecessary risk. Read what real people are saying about this strategy in these Bank On Yourself reviews.
Drew Wilder Reviews Bank On Yourself
Drew Wilder’s family has been using the Bank On Yourself safe wealth-building strategy since 2006. In this review of the Bank On Yourself method, Drew shares how he’s relying on Bank On Yourself as a safe way to build financial stability … providing a source of funds for needs ranging from home repair to paying for college. See why Drew trusts dividend-paying whole life insurance to safely grow his nest egg.
Phil and Marge Owens Recommend Bank On Yourself
[Read more…] “More Reviews About Bank On Yourself Changing Lives!”
A new study by the Wall Street Journal confirms it: Many Americans will have to trade their “golden years” for a retirement filled with scrimping and sacrifice.
Pre-retirees aged 55 through 70 today are the first generation that was “left on their own” to prepare for retirement, according to Alicia Munnell, Director of the Boston College Center for Retirement Research.
As pension plans that provide a guaranteed income for life disappeared, 401(k)s, 403(b)s, IRAs and similar government and employer-sponsored plans replaced them.
It’s an experiment that has failed many. According to the Wall Street Journal, for Americans approaching retirement age…
“Their median incomes, including Social Security and retirement fund receipts, haven’t risen in years, they have high debt, are often paying off children’s educations and are dipping into savings for aging parents.
“Their paltry 401(k) retirement funds will bring in a median income of under $8,000 a year for a household of two.” [Read more…] “Wall Street Journal Study: 40% of Pre-Retirees Will Have to Reduce Their Lifestyle”
I just got something in the mail that made me madder than a mosquito in a mannequin factory.
It ought to tick you off, too, and give you some really good reasons to fire your banker. Here’s the scoop…
I just got a bill from our auto insurance company – one of the biggies which shall remain nameless, for now.
They informed us that our premium was jacked up because of information they got from consumer reports.
Specifically, they cited information they obtained on li’l ole me (gasp!) about my “percent balance to high credit for bank revolving accounts reported in the last 6 months.”
Yeah, I know it sounds like gibberish, but here’s what really ticked me off…
I show people how to fire banks and finance companies and become their own banker! [Read more…] “How Your Credit Score Affects Your Life – Another Reason to Fire Your Banker”
These Bank On Yourself reviews aren’t based merely on theory. They report the actual results of Bank On Yourself clients.
Bank On Yourself is a financial strategy based on high cash value dividend-paying whole life insurance. Bank On Yourself-type policies enjoy guaranteed growth and are carefully designed to create maximum cash value and flexibility. This allows policy owners to take loans against their life insurance policies while still experiencing the same growth on their money – just as if they hadn’t touched a dime of it!
Here are the Bank On Yourself reviews of two of our hundreds of thousands of happy Bank On Yourself clients …
Steady Growth of His Savings Replaces a Rocky Ride for Bank On Yourself Reviewer
Dan Proskauer is an engineer with a graduate degree from Cornell University, the highest-rated engineering school in the Ivy League. Dan works for a major healthcare company, and he holds three U.S. patents.
Dan is a sophisticated investor. He lives below his means, and he’s disciplined about saving for the future. But after the financial crashes of 2000 and 2008, Dan realized he had nothing to show for decades of saving and investing his hard-earned money and “doing all the right things.” [Read more…] “Read These Bank On Yourself Reviews from Actual Clients”
Middle-aged Americans who experience a major economic blow are more likely to die during the years that follow than those who don’t.
That’s according to a new study published in the Journal of the American Medical Association.
Shockingly, those who experienced a devastating financial loss – called a “wealth shock” – have a 50% greater risk of dying early. And it doesn’t matter how much money you had to start.
How likely are you to experience a wealth shock?
About 1 in 4 people in the study have had a wealth shock, averaging a loss of about $100,000. Often it was a result of a drop in the value of retirement investments or a home foreclosure.
Some shocks happened during the Great Recession of 2007-2009. Some happened before or after that.
But it didn’t matter if the economy was good or bad – a wealth shock still increased the chance of dying early.
The findings suggest a wealth shock is as dangerous as a new diagnosis of heart disease, says Dr. Alan Garber of Harvard University. Another expert noted that,
We should be doing everything we can to prevent people from experiencing wealth shocks.”
[Read more…] “The Financial Shock that Can KILL You”
Too many people determine how long they think they’ll live based on arbitrary factors.
And nearly half of pre-retirees and retirees underestimate how long they’ll live by five years or more, according to surveys by the Society of Actuaries.
That’s a big problem when it comes to making sure your money lasts as long as you do.
And very few people surveyed understand how variable life expectancy can be: Whatever the statistics say is the average life span for someone of your age and gender, you have a 50% chance of living longer than that age.
In other words, planning for living to an “average life expectancy” is a recipe for disaster!
By age 65, men in average health have a 40% chance of living to age 85, and women have more than a 50% chance.
And if you’re healthier than average, well now you’ve got a 50% chance of living to age 85 if you’re a man, and a 62% chance if you’re a woman.
Of those turning 65 today, 25% will live past 90, and one out of 10 will live past 95, according to the Social Security Administration.
What if you’re the lucky one who hangs on until 100 or longer? You don’t know for sure, do you? But just how “lucky” will you feel if you can’t provide for yourself in those final years?
My 95-year-old mother-in-law lives in an assisted-living facility in Arizona. When her husband died, she got a life insurance settlement and has been receiving a nice pension payout every year. [Read more…] “Will Your Money Last as Long as You Do?”