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In this episode, we ask:
- Is Bank on Yourself® a Scam?
- Who is Michael Kitces, and why do we respect him so much?
- What did Michael Kitces write about Bank on Yourself®?
- Would you like to read Pamela Yellen’s responses to his analysis of Bank on Yourself®?
- What does Kitces say about permanent whole life insurance loans?
- What does Kitces say about growth in a whole life insurance policy?
- What is a non-direct recognition policy loan?
- Have you heard Episode 110?
- What does Kitces say about access to cash value?
- What does Kitces say about loans causing policy lapse?
- What does Kitces say about taxable gains?
- Should you take a home mortgage?
- What are the consequences of not paying a debt back?
- What happens to life insurance policy loans when one dies?
- What happens with debt forgiveness?
- Why does Mark work with Pamela Yellen’s Bank on Yourself® authorized advisors group?
- What else does Kitces say about permanent whole life insurance loans?
- Would you like to learn more about taxes and life insurance loans?
- Have you heard Episode 29?
- What other financial vehicle allows for this?
- What are the key structures in a properly designed Bank on Yourself® type whole life insurance policy?
- What is an indexed universal life insurance policy (IUL)?
- What is a crediting rate?
- Can you build a Bank on Yourself® type whole life insurance policy on an IUL product?
- Do whole life insurance policies have crediting rates?
- Would you like to learn more about indexed universal life insurance policies (IUL)?
- Have you heard Episode 59?
- Have you heard Episode 60?
- Have you heard Episode 61?
- Why is the Bank on Yourself® brand important?
- Should you worry about life insurance policies lapse?
- Do you have a mortgage? Could you lose your mortgage? Could you lose your house?
- What if half of your mortgage payment was optional?
- Can you have discipline with your finances?
- Do you have a well trained advisor who truly understands the proper way to build and care for a Bank on Yourself® type whole life insurance policy?
- What is Michael Kitces biggest blind spot in his article?
- Do you finance everything you buy?
- Do you use traditional financing?
- Do you take loans from auto companies?
- Do you take loans from a FDIC insured bank?
- Do you take loans and pay them back according the preset schedule?
- After the traditional loan, what do you have left?
- What about leasing?
- What do you have at the end of a lease?
- What about paying cash instead of financing?
- Do you save up and pay cash for everything?
- Do you replenish your savings?
- When you pay cash, aren’t you actually borrowing from yourself?
- How much interest are you earning on the money you withdrew?
- When will you begin earning interest?
- Are you paying interest, passing up interest or earning interest?
- How is paying cash like stealing from your future self?
- Would you like to learn more about opportunity cost?
- Have you heard Episode 13?
- What does a Bank on Yourself® type whole life insurance policy loan offer?
- Have you heard Episode 32?
- What are your thoughts on this?
- Who do you know who needs to hear about this?
- Would you like to leave us a review? Send us a screenshot of your review to hello@nyafinancialpodcast.com, and we’ll send you a free book!
