Can Someone Do Private Banking and Have a 401K / IRA
Yes! The concepts is to pay a base premium towards the whole life policy and then add 'life insurance dumps' of liquid cash - which allows almost immediate access to 100% of those funds. This life insurance is insurance that pays dividends, and it is not an investment - whether that be IUL, VUL, UL term, whole life or any other form of life insurance. One can borrow it against the policy, not borrow from the policy, allow repayment of the loan at a later date. If there are enough funds within the policy, one does not need to repay the loan and the policy will keep going. In fact, one can take the tax deductible asset (i.e. the HELOC) and turn it into tax-free growth through a whole life policy.
Related Articles
Dave Ramsey Says Whole Life Insurance (IBC) & Private Banking Are Fake
Private Banking is just the use of a trust and a whole life insurance policy together to create a private institution that acts as a lender. The lender (trust) holds the depositor’s money (yours) and invests it into a vehicle (whole life policy) ...
Does Private Banking Secrets Replace Our Current Bank
No, one does not own a bank but rather keeps the interest typically paid to a third-party for the loan.
How Should a IRA & Roth IRA Be Handled
IRAs can remain in a personal name. Even if the IRA is within the trust's name it will incur early withdrawal fees. If one still desires to place the IRA in the trust's name, just ask the IRA management to change the name on the account to that of ...
Will a 401(k) Be Subject To Social Security Taxes
Distributions from a 401(k), or other retirement savings plan such as an individual retirement account (IRA), won't owe Social Security taxes upon the distribution because these taxes were already paid during one's working years.
Who Owns The Federal Reserve Banking System
Peter Kershaw provides the answer in "Economic Solutions" where he lists the ten primary shareholders in the Federal Reserve banking system. The Rothschild Family – London The Rothschild Family – Berlin The Lazard Brothers – Paris Israel Seiff – ...