While there are some who people who love paying taxes (and/or don't mind voting to force others to pay taxes), there are others who are savvy enough to realize that an individual is a better steward of their own money than the government with their endless entitlement programs, never-ending wars, and a litany of financial boondoggles.
When it comes to financial planning, we've been instructed by the mainstream media and financial advisors to always fund a 401k/IRA plan as the best way to save for retirement. You have to ask yourself: who benefits?
Naturally, it's the government and Wall Street who benefits most from this type of plan. Wall Street gets the annual fees for decades, if not for life, and the government gets a guaranteed source of revenue in the form of your postponed and unpaid taxes.
Meanwhile, you're stuck riding the ups and down of the stock market with no certainty other than:
- Your Wall Street advisor is getting paid no matter which direction your account balance goes,
- You have limited to no access to your own money for decades on end (Banks love this), and
- You will hand over the majority of your gains via investment expenses and taxes paid to the IRS. (See John Bogle's article with PBS here: http://jlmwealthstrategies.blogspot.com/2011/05/excerpt-from-pbs-interview-with-john.html
If that's not bad enough, the real kick in the pants with conventional financing planning is that the amount you pay in fees will grow along with your account balance each year while the amount you are having to pay in future taxes grows as well!
If only you knew about a better way, right?
This is where I come in as an Infinite Banking Authorized Practitioner. I teach people the secret to a lifetime of financial security is to choose a private retirement account. It's also called a Bank On Yourself or 770 Account plan.
What is Infinite Banking/770 Account?
It's a way for you to save your money with a financial institution (Life Insurance companies) that is ultra-safe, ultra-liquid, and always growing. These private non-qualified plans exist outside of the customary rules and restrictions associated with 401k/IRA plans that bleed you dry often unbeknownst to you like a parasite attached to its host!
Most people will never stop to consider a specially designed life insurance contract for maximum cash for life-long accumulation purposes. The reasons are many and pretty much all rooted in not knowing how the protective umbrella of a life insurance company can safely grow your cash value uninterrupted for life, even if you decide to use it for any purpose.
Most people get Infinite Banking/770 Account confused with buying life insurance. The Infinite Banking/770 Account is a strategy, not a product. When comparing all the places an individual can park and access money for a lifetime of use, there is only one option that comes out on top: a dividend-paying Whole Life contract structured for maximum cash value growth and the least death benefit you can squeeze into it.
Since this type of life insurance contract is structured to be overloaded with cash while the death benefit is pared down to the minimum, as you continue to over-fund the contract each year, the mortality and expense charge associated with the death benefit usually drains out to just a small amount, often giving up only 1-2% over the life of the contract.
In a properly designed Infinite Banking/ 770 Account plan, the cost of insurance is decreasing in percentage terms each year as your contract cash value increases. By the way, this is the opposite of what happens with a mutual fund where the fees grow as the account grows.
Think of it this way: Over the life of your Infinite Banking/770 Account plan, a small portion of your accumulated cash value in the contract will be paying the cost of the death benefit. This is money that would have otherwise gone to the government in taxes when compared to a taxable or tax-deferred investment like a 401k.
In other words, you are having Uncle Sam indirectly provide you with the ability to grow, use, and protect your money now while you are alive while also guaranteeing a legacy of wealth to your next generation... and this is all with money you'd otherwise be sending to the IRS.
This is the most stress-free and predictable type of financial planning that exists. Instead of having Wall Street and Uncle Sam leverage your life savings for their gain, you've completely flipped the script on them and for you and your family's benefit.
What could be better?
To get started with your Infinite Banking/770 Account plan, use the link here: http://www.vcita.com/v/john.montoya
John A. Montoya
JLM Wealth Strategies, Inc.
(925) 386-6639 Office
(888) 472-9757 Fax
Bank On Yourself® Authorized Advisor
IBC® Authorized Practitioner