Is it Too Late? Am I Too Old to Benefit from Bank On Yourself?

One of the most-asked questions we got on our recent “Ask the Bank On Yourself Advisors” live online event was when is it “too late” to start a Bank On Yourself plan?

A number of people said things like…

I’m only 10 years away from retiring. Can I still benefit from this?”

In most cases, the answer is “yes.” In fact, one of the Advisors who presented during the event walked us through a case study of a couple who became Bank On Yourself policy owners at the ages of 59 and 60.

Happy Retirement
Is it too late for a comfortable retirement?

I started my own biggest plan yet last year when I was 61. (Oops! I just gave away my age!) And people older than I start new Bank On Yourself plans, as well.

The Bank On Yourself Authorized Advisors are masters at structuring plans to meet their clients’ unique situation and goals – and they have a LOT of flexibility in plan design.

But there’s also a different kind of Bank On Yourself dividend-paying whole life insurance policy that I call a “Bank On Yourself for Seniors plan.”

This involves a one-time lump-sum premium payment, and then you pay no more premiums – ever.

These plans are available for people up to age 85, and even come with a FREE long-term care benefit for stays in a long-term care facility or for home health care, in most states.

To learn how these unique plans work (only two companies that I know of even offer them), you can watch a video and/or read a transcript that explains all the details. You’ll also see two very different case study examples to give you an idea of the range of possibilities.

Watch the “Bank On Yourself for Seniors” video and/or read the transcript here.

This is very important information for you if you – or someone you care about – are between age 60 and 85 and are…

  • Frustrated by low interest rates you’re getting from savings and money market accounts and CD’s
  • Tired of risking your retirement savings in volatile, unpredictable stocks and other investments
  • Concerned about making your money last as long as you do
  • Being forced to take the Required Minimum Distribution (RMD) from your retirement plan every year and having to pay taxes on it – whether you need that money or not
  • Seeking protection from long-term care expenses

Watch the “Bank On Yourself for Seniors” video and/or read the transcript here.

These are NOT “off-the-shelf” plans – they’re custom tailored to your unique situation…

I strongly urge you not to assume one type of plan (traditional versus single-premium) makes more sense than another for you without consulting with one of the Bank On Yourself Authorized Advisors. If you already work with one of the 200 advisors who have met the rigorous training and requirements to be an Authorized Advisor, we suggest you get in contact with them now to discuss your situation.

Discover how people age 60-85 can benefit from Bank On Yourself

If you haven’t yet gotten a referral to an Authorized Advisor, simply request a FREE, no-obligation Analysis, and we’ll put you in touch with one right away!

Request a FREE Bank on Yourself Analysis

We encourage you to investigate what a Bank On Yourself for Seniors plan could do for you or your loved ones today!

Comments

  1. I AM 65 YEARS YOUNG AND INDEED PAMELA, I WISH I KNEW ABOUT THIS PLAN MANY YEARS AGO. BUT AFTER READING YOUR ANSWER TO THE MOST FREQUENTLY ASKED QUESTION ” AM I TOO OLD FOR A BANK ON YOURSELF PLAN MAYBE I AM NOT? I AM RETIRED FOR ABOUT 4 YEARS NOW AND EXIST ON SOCIAL SECURITY AND A MONTHLY DISTRIBUTION FROM MY IRA, TOGETHER THAT COMES TO ABOUT $3200.00 A MONTH. i STAND TO INHERIT A LUMP SUM THAT WILL BE SIGNIFICANT AND I WISH TO INVEST THAT INTO A BANK ON YOURSELF PLAN. BUT WITH ABOUT $300,000.00 LEFT IN MY OWN IRA I WOULD LIKE TO KNOW IF SOME OF THAT WOULD BE WISE TO PLACE INTO A PLAN IMMEDIATELY SO I MAY EARN MORE WITHOUT HAVING TO RISK PLAYING THE WALL STREET CASINO OF STOCKS AND BONDS. BEEN THERE DONE THAT. AND EVEN THOUGH EQUITIES HAVE RISEN FOR 10+ YEARS IT’S ALL PHONEY MONEY THAT THE FEDERAL RESERVE HAS BEEN PUMPING INTO THE MONETRY SYSTEM AND THT SOON WILL CRASH AND IT WILL BE LIKE NO OTHER INCLUDING THE GREAT DEPRESSION. SO IF IT ISN’T TOO LATE I WOULD BE INTERESTED IN FINDING OUT FOR MYSELF HOW I WOULD BENEFIT FROM SUCH A PLAN.

    • Neither age and/or poor health are necessarily obstacles.  What matters is only that you CONTROL the policy and the equity in the policy, NOT that you are the insured.

      You could have anyone that you have an “insurable interest” in be the insured.  Typically this could be a member of your immediate family, such as your spouse, a parent, a child or a grandchild, or a business partner.

      This is also something many older folks like to do for their children and/or grandchildren to help them build financial security, fund college educations, buy a house, etc.

      People of all ages can – and do – use this proven wealth-building method.  And there are special Bank On Yourself programs available for folks who are age 60 and up.

      To learn more about those programs, check out the two videos and transcript at:

      https://www.BankOnYourself.com/bank-on-yourself-for-seniors
      If you are interested in this strategy and would like to find out if you qualify for it and how you could benefit from it, given your unique goals, circumstances and dreams, why not take advantage of a no-obligation Bank On Yourself Analysis that will help you get those answers?  You can request it online by going to:

      https://www.BankOnYourself.com/analysis-request-form

      Thanks again for your interest – I hope this helps!

  2. I am 53 so is my wife and I am scared! I was a paramedic most of my life and didn’t have a retirement. I have a couple of roll over IRA’s adding up to 20,000 and I am currently enrolled in a 401K for the past 3 years. My wife says she is going to retire in 3 years no matter what she has 30 years in with the Government and has 350K in her TSP! My daughter is a freshman in high school and my son is finishing his first year in college! We seem to be living paycheck to paycheck! We went to a financial advisor recommended by Dave Ramsey to help us figure out how to save more figure out where our money is going and how to feel more comfortable! We got all our statements and bills and everything together and they said they would do an analysis for n where we stand and what we should do to produce income in retirement! First thing they asked before showing us the door was do you have 3-6 months income to n your savings account we said no we are living paycheck to paycheck and came to you for help he said collect your lose change and come back when you have 3-6 months income in the bank! I have a disability in both arms and don’t know how long I will be able to work but if she retires I am afraid I will have to work the rest of my life so we don’t lose the house and her insurance that I need after she retires. I still haven’t heard what bank on yourself is? Is this just insurance? How do I get paid? Do I have to wait till one of us dies?

    • We recommend that you discuss your situation with a Bank On Yourself Authorized Advisor, who will be able to answer all the questions you may have.

      To get a referral to one and to take advantage of a no-obligation Bank On Yourself Analysis that will show you how you could benefit from a Program tailored to your unique financial situation, goals and dreams, request it here.

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