All Forum Posts by: Mike S.

LLC and insurance are not the same thing. Both have their place. An LLC cost between a few dollars per yer up to a few hundred dollars depending on the jurisdiction.

It will protect you against inside liability. Depending on the jurisdiction it may also protect you against outside liability.

You need to research the subject more and change CPA has he does not seem to understand the liability part.

Spend some hours reviewing Clint Coons Youtube channel. A lot of very pertinent content that will answer your questions.

Why do you want to display all the information of the original poster on the forum list. I really don't care how many posts or votes the original poster has when I am browsing for topics. I don't mind you displaying it when I open a thread, but not on when I am looking at the list of threads. You are cluttering the screen with useless information at that stage. I only want the title of the post, and I want as many of them on a single page. I hate scrolling or clicking just to read four more subject header. My eyes are much faster to browse and choose a topic of interest than my hands.

I am using maximum overfunded permanent life insurance policies as an intricate part of my investment master plan.

The big drawback with life insurance is that the first few years, you can only use a portion of what you paid in, due to the front loaded cost of these policies. So it will set you back behind a bit initially (a properly set up policy should let you get you around 75 to 85% of your premium in the first year). However, on the long term, it enhances your return compared to a system where you did not include life insurance in the mix. It also has plenty of other advantages as it is asset protected, liquid, tax free and on top of it gives you a life insurance in case of your early demise to protect your family.

So if you don't have the money to invest now, life insurance won't create it for you out of nowhere. However if you have some money or regular cash flow, look at funneling it through a life insurance before reusing it in other investments; as in the process your money will grow at two places at the same time.

Like phone robocall, these are illegal. Why would I ever want to work with a business using illegal methods?

I now even receive spam calls at 5 am... Ridiculous.

Use the search function of that forum, and you will find some very informative threads on it.

You would need first to set up a maximum overfunded permanent life insurance policy (Whole Life or Index Universal Life). Then you can obtain a loan from a bank, using the cash value as collateral. Your cash value continues to grow tax free while you can use the loan proceed in other investments, and deduct the loan interest as investment expense. So your money works at two places at the same time. Check @Thomas Rutkowski website. You'll get a good overview of the process.

If you are taking a loan from your cash value from the insurance company, it may not be deductible, even if the proceeds are used for investment.

On the other hand, if you use a third party lender issuing a loan using the cash value as collateral, it appears that you can deduct the interest as investment expense. Look for banks or lenders offering CVLOC (cash value line of credit). Their lending rates are also often more advantageous than the ones you can get from your insurance company.

Start investing in real estate sooner.

Start overfunding a permanent life insurance as soon as I had steady income.

Buy more Bitcoin when I read about it in the early 2010s, and not loose my original wallet...

HELOC are great products to have on your properties. However, do not count on it to be available when you need it.

Banks have frozen line of credit in the past and will do it again. It does often happen at the most inopportune time (like when you attempt to withdraw to put your down payment at closing time). So I would advise to take all the money out of your HELOC while you can and store it somewhere safe where your bank can't access it, but also where you can get an interest rate covering at least the HELOC interest.

Maximum overfunded permanent life insurance (properly set up Whole Life or Index Universal Life policies) are excellent products to put your cashflow in. You can use the cash value as a collateral for a bank loan at very low interest rate, while the full value continues to grow in the life insurance. They are complex products, but when used properly are great wealth multipliers, safe, liquid and tax free.

Yes it does work, but it is a complex product that need a proper execution to realize its full potential. Most of the horror stories are from people who did not understand it and did not use it properly.

Also don't get limited to the IBC products. The IBC brand is one subset of overfunded permanent life insurance. They are limited to some specific Whole Life products and are not always maximum overfunded.

There are other brands in the field that are slightly different in their application but also limited in the products.

You should seek an agent who has access to all products as some may be more appropriate than other depending on your goals.

Look at @Thomas Rutkowski website. He has a more broader approach. While he recommends mainly the Index Universal Life products, he also offers the other Whole Life products and will explain the pro and cons of each, giving you the choice to take what will be the best in your specific situation.