Pamela Yellen was recently interviewed by James Rick, host of Full Potential. In this fast-paced video, Pamela reveals…
- Why she’s so passionate about the Bank On Yourself Method
- Why she created the $100,000 Challenge – a cash reward for the first person who can show they use a different strategy that can match or beat the advantages and guarantees of Bank On Yourself
- Three tips you can use today to take back control of your money and finances
Improve Your Financial Picture…
To find out how much your financial picture could improve if you added Bank On Yourself to your financial plan, request a free Analysis. If you’re wondering where you’ll find the funds to start your plan, the Bank On Yourself Professionals are masters at helping people restructure their finances and free up seed money to fund a plan that will help you reach as many of your goals as possible in the shortest time possible.
James Rick, also known as “Mr. Full Potential,” is the founder of FullPotential.com and author of “Unleash Your Full Potential.” James is a lifestyle strategist for living your best life, cutting costs and building wealth through what you love! So check out his other terrific interviews!
As usual Pamela rocks it. I have now read 3 books (some of them twice) on the subject attended 4 webinars and now have my own Bank on Yourself policy. This is a no brainer.
I was recently re-reading your book. On pages 20 and 21, you indicate that the loan interest charges go right into my Bank On Yourself account. Over the years, I have borrowed from various life insurance policies and it has always been my experience that the loan interest charges are paid to the insurance company and do not go into the policy value. Please let me know if your plans are different.
This is explained in greater detail on pages 100-103 of my book. You’re correct that the interest doesn’t go directly into your policy – it can’t because the money you borrow comes from the company’s general pool, not your policy. The fact is that if you use a non-direct recognition company you’ll end up with the exact same cash value whether you borrow and pay it back at the interest the company charges, or you never borrow at all.
Thank you for the great resource and I love your BOY book. I wish my agent had told me about it 5 years ago.
What do you do with the dividends? To buy more insurance or use it to build up the cash value?