Recently, a senior editor of the respected personal finance publication, Kiplinger, described the best financial move he’s ever made:
My wisest move was buying whole life insurance in the 1990s, precisely when countless books and articles mocked whole life as obsolete. My wife, Debbie, did the same. In the ten-plus years that we’ve paid $5,000 a year combined into our policies, both from extremely sound mutual-insurance companies, we’ve built substantial five-figure cash values, can borrow from them instantly at virtually no cost and haven’t paid a cent of tax on the earnings.”1
Like most people who have Bank On Yourself plans, Jeff’s only regret is probably that he didn’t put more into the policies!
It’s a virtual certainty that Jeff and Debbie’s policies are traditional dividend-paying whole life policies, rather than the specially-designed, super-charged variation used for the Bank On Yourself method.
Had Jeff and Debbie’s policies been designed the Bank On Yourself way, they’d have significantly more cash value now.
As the Dow moved through the 10,000 mark this week, a dose of reality is in order…
Here’s a few of the comments I’ve recently received from folks who use Bank On Yourself to reach a wide range of financial goals and dreams.
The first comes from Devin Smith, a subscriber from Colorado who sells advertising (reprinted with his permission):
The Bank On Yourself program is fantastic! I received my first (annual) statement this month and couldn’t believe the growth in the policy is UP, not DOWN! And my policy has been in place during one of the worst stock market/financial meltdowns in history! I am absolutely sick when I receive my quarterly statements for my 401(k) – I’m down almost 50% in the past year.
I plan to start another Bank On Yourself plan as soon as I can. Thanks for introducing me to this wonderful financial tool.”
[Read more…] “What would it be like to not even care what the stock market is doing?”
My New York Times, Wall Street Journal, USA Today and Business Week best-selling book, Bank On Yourself, has been receiving some five-star endorsements from top experts in personal finance.
Check out what T. Harv Eker, #1 New York Times best-selling author of “The Millionaire Mind,” said:
If you’re looking for more of the same conventional financial advice, this isn’t the book for you. But if you’re prepared to take back control of your financial life once and for all, Bank on Yourself is a ground-breaking method that can put you on the fast track to reaching your goals and dreams.”
As Harv noted, Bank On Yourself really isn’t the same old financial advice people have been getting everywhere else. And that’s a good thing, don’t you think?
Because look where that’s gotten us – we’re deep in the midst of the greatest destruction of household wealth in history, with no quick fix in sight.
[Read more…] “Bank On Yourself receives endorsements from top experts in personal finance”
In my book on Bank On Yourself, you’ll meet Bill Liebler, one of the many folks who shared their experiences with Bank On Yourself. Bill gave me this update last week:
As we’ve watched our IRA, 401(k), and stock portfolio dwindle, we are relieved we have a chunk of our net worth in our Bank On Yourself plan. It creates a place where our money is safe, the value didn’t drop, and in fact, has continued to increase every year. We really have been able to achieve peace of mind with this approach, and I strongly encourage everyone to look into it.”
I’m getting letters and emails echoing what Bill said every day, which is why I became convinced Americans have been brainwashed into believing they must accept risk, volatility and unpredictability to grow a sizable nest-egg.
How are folks who use Bank On Yourself faring today, during the greatest destruction of household wealth in history?
I just heard from the Wilder family, who told me how they “stayed sane” during the market crash:
We have had Bank On Yourself plans for about three and a half years. They were what kept us sane during the stock market crash of 2008. Everything that was not in Bank On Yourself policies lost 32%, but all of our Bank On Yourself policies grew. Our goal with it is to be free of all interest payments to lenders and to secure a retirement income stream we can count on. We have used the plans to purchase a new car and pay off our mortgage. It’s a pleasure to know our car cannot be repossessed and our home cannot be foreclosed on.”
Find out how people of all ages, incomes and backgrounds have taken back control of their financial future in my New York Times best-selling book, The Bank On Yourself Revolution: Fire Your Banker, Bypass Wall Street, and Take Control of Your Own Financial Future.