Tuesday, October 29, 2013

My Process To Get You Started With IBC (Infinite Banking Concept) AKA "The 770 Account"

As an authorized Infinite Banking Concept practitioner (IBC), part of my responsibility is to understand what you're aiming to accomplish so I can put together a Personalized Solution tailored specifically for you.  There is no one-size fits all for IBC.  (For those seeking information about the 770 Account or Bank On Yourself,  please note that Infinite Banking as pioneered by R. Nelson Nash is the official name for this strategy.  Be sure to work with IBC Authorized Practitioners who are approved by the Nelson Nash Institute.)

My 3 Step Process To Get You Started

1. The Introductory Phone Call

My first goal is to get you familiar with Infinite Banking at a high level so you are prepared to ask questions during our initial telephone or in-person consultation.  Ideally, I like for my prospective clients to have read my Free Report or watched the videos at www.CashValueBanking.com

Initial appointments are typically 20 minutes over the phone.  You can schedule your introductory call here: www.vcita.com/v/john.montoya.  During this initial call I will answer all your Infinite Banking related questions and also qualify you to make sure you are a good candidate for IBC.

2.  The Financial Questionnaire Appointment

After questions have been answered and the process laid out, if you're comfortable moving forward with a Personalized Solution, we will then schedule a telephone appointment to complete a Financial Questionnaire.  This appointment typically requires 15-30 minutes depending on your financial situation.

3.  The Plan Review and Application Appointment

Our 3rd appointment is the review of your Personalized Solution which will highlight the IBC/Bank On Yourself plan I have created for you.  If everything looks good and you are ready to put the plan into action, we can proceed to the application.

Typical underwriting time can vary but is usually between 25-45 days before an approval is offered for acceptance and delivery.  Once an underwriting decision has been made and assuming the contract is approved, then you and I will make any final changes needed to either modify the plan's premium specifications or simply request the contract as approved.

The worst case scenario is I have to notify the prospective client of a decline by the insurance company.  It's important to note that a decline will not rule out the creation of an IBC/BOY plan.  It simply means we have to find an insurable interest like a spouse, child, or sibling.

When you are ready to have our initial telephone introductory appointment (Step 1), please schedule our appointment by going to my online calendar at www.vcita.com/v/john.montoya

I look forward to helping you get started.

Thank you,

John A. Montoya
JLM Wealth Strategies, Inc.
(925) 386-6639 Office
IBC™ Authorized Practitioner
Bank On Yourself™ Authorized Advisor

Saturday, October 26, 2013

Becoming Your Own Banker

Becoming Your Own Banker 

Becoming Your Own Banker/IBC (Infinite Banking Concept) also known as Bank On Yourself under a different trademark has been one of the best financial secrets for decades. It’s a fundamentally sound philosophy that frees you from the Wall Street/Banking system that holds everyone captive for life.  Best of all, it’s surprisingly simple to implement.

Becoming Your Own Banker has numerous benefits, including the fact that it’s private, it’s tax-favored, it’s untouchable by lawsuits, and it compounds money four or five times faster than any other savings vehicle in existence.

Those are incredible benefits but there’s one more you need to know about.

This benefit could be the biggest of them all.

I’m talking about using your IBC/Bank On Yourself plan to cover everyday expenses such as vacations to Europe or anywhere you choose, rent, college tuition fees, and medical bills.

I’m also talking about using your plan to invest in the stock market, options, gold, bonds, or fine art.

You can even use it to start your own small business. (There are tax benefits to doing this.)

In short, Becoming Your Own Banker is like having your own bank. You can take money from it anytime you want. You spend this money however you like and you can pay yourself back whenever you want.

You’ll never have to pay interest to another financial institution again.

No more credit checks.

No more loan applications.

No more sleepless nights.

When you consider how much money the average person “throws away” by paying interest and fees to banks, credit card companies, and other financing businesses, you can see that the ability to use your Becoming Your Own Banker policy as your own financial system is a benefit that could easily be worth several million dollars over the course of a lifetime.

Watch the videos on on our site (www.CashValueBanking.com) and then contact JLM Wealth Strategies to request more information.

John A Montoya, Founder of JLM Wealth Strategies and began his career in financial services in 1998, and is one of only 200 financial advisors in the country who have successfully completed the training program required to become a Bank On Yourself© Authorized Advisor.  John also is an IBC Practitioner with the Infinite Banking Institute and holds a B.A. from the University of San Diego. 

Monday, October 21, 2013

The Very Secret 770 Account That Sounds Too Good To Be True But Isn't

Before I get started on the 770 Account, I want to share with you another little money secret.  It's called a "401" account.  It has no guarantees except that you can and will lose money when the market tanks and eventually you will have to pay taxes on it whether you have a gain or not.

Still interested?

It gets even dicier. Your money in this 401 account is illiquid until after age 59.5 and you have to pay fees on the account (even hidden fees that you know nothing about) for life to Wall Street whether they make you money or not.

Can you guess what it is?!?

If you follow the mainstream financial media you likely have one of these 401k accounts and you buy term and think Whole Life is expensive and a waste of money.  You hear something for long enough, chances are you'll believe it's true.

In my opinion only a person unaware of a better option would partner with Uncle Sam and Wall Street in retirement.  One entity will tax you for life and the other will bleed your account dry while you take all the risk.

My apologies for poking fun at the 401k which the majority of Americans use to fund their retirement.  My point in leading off with it is to point out that a "secret" financial strategy like the 770 Account isn't really much of a secret because it's actually been around for over 150 years.  The difference with a 770 Account compared to a 401k account is that you're familiar with the latter.  The 770 Account is the one that you either have never heard of it or if you have, you are most likely misinformed or uneducated about it.

I can pretty much guarantee you don't understand it because the life insurance industry doesn't even teach this strategy that is now being called the 770 Account by a newsletter putting a new spin on old registered trademark.  And if those in the life insurance industry don't know the in's and out's of this financial strategiy, I'm absolutely positive the traditional Wall Street advisor knows next to nothing except what they might have heard about it in conversation from another person who knows nothing about it.  For the lay person, it's even more obscure if that's possible.

In that regard, the 770 Account is very much a secret if you call it by that name.  Lately I've been seeing videos on the internet for a secret investment that of course sounds too good to be true.  It's called the "770 Account" or "the Presidential Account" but it's best known as the Infinite Banking Concept which is the original trademark and the trusted source behind this strategy.

For those that already think they what the Infinite Banking Concept is about, I'm going to stop you in your tracks.  It is MORE than a Whole Life contract which is simply a product that combines a tax-favored savings component with a death benefit. It is by far not too good to be true because it's actually better than any other type of savings strategy that exists.  The Infinite Banking Concept is a strategy by which you eliminate uncertainty (Wall Street), usury (bank financing), and taxes (Uncle Sam) from your life forever.

As an IBC Practitioner, I teach this strategy in my practice and I've seen the impact it has had in my clients lives.  I consider it a foundation for wealth building.  I highly recommend anyone who comes across the video of the 770 Account to watch it.  Educate yourself a little bit but do your own research about the Infinite Banking Concept.

Don't believe the online jokers on message boards who know nothing about Whole Life contracts.  This includes the typical Wall Street advisor paid to sell you mutual funds or the lay person who only buys term because they've never learned how wealthy people accumulate tax-favored money in these accounts using very specific riders to turbo charge the cash value accumulation.

For a better understanding of how the 770 Account works, talk to an IBC Practitioner who can teach you the concept.  You can verify my affiliation with the Infinite Banking Institute by clicking here: http://www.infinitebanking.org/finder/.   Best of all you won't have to pay a monthly subscription to a newsletter for learning how you can benefit.


John A. Montoya
JLM Wealth Strategies, Inc.

Listen to my IBC podcast:  www.TheFifthEdition.com


Tuesday, October 15, 2013

Press Release - John Montoya Hits Amazon Best-Seller List With New Book


Financial Advisor John Montoya Hits Amazon Best-Seller List With New Book

John Montoya recently hit seven Amazon.com best-seller lists with the new book, “The Secret To Lifetime Financial Security.

San Francisco, CA – October 15, 2013 – John Montoya, founder of JLM Wealth Strategies recently joined a select group of North America’s leading financial advisors to co-author the book titled, The Secret to Lifetime Financial Security: The Nation's Leading Financial Advisors Reveal How to Turn Your Back on Banks and Wall Street and Take Control of Your Financial Future Today. The book was released on September 19, 2013 by CelebrityPress™ - a leading business book publisher. John Montoya contributed a chapter titled “What is the Biggest Financial Secret to Success?”

CelebrityPress™ describes the book: “Between the covers of The Secret to Lifetime Financial Security, the nation's best and brightest financial advisors show you how to stop worrying about the next market crash and achieve the financial security and peace of mind you deserve. These authors will help you discover little-known ways to turn your back on Wall Street and grow and protect your hard-earned dollars, learn how to fire banks and credit card companies and become your own source of financing.

On the day of release, The Secret to Lifetime Financial Security reached best-seller status in seven Amazon.com categories - reaching as high as #1 in the “Budget and Money Management” category.  The book also reached best-seller status in the following categories: “Introduction to Investing,” “Investing,” “Personal Finance,” “Entrepreneurship,” Small Business & Entrepreneurship” and “Business & Investing.”

John Montoya began his career in financial services in 1998, and is one of only 200 financial advisors in the country who have successfully completed the training program required to become a Bank On Yourself Authorized Advisor. John holds a B.A. from the University of San Diego, is the proud father of 3 children and in his free time volunteers for the Society of Financial Awareness, a nationwide 501(c)3 Non Profit Educational Speakers Bureau to end financial illiteracy across America.

After such a successful release, John Montoya will be recognized by The National Academy of Best-Selling Authors™, an organization that honors authors from many of the leading independent best-seller lists.

To order a copy of the book, please go to:  http://amzn.to/1950Uj2

Wednesday, October 9, 2013

QRP (Qualified Retirement Account) vs. Bank On Yourself: Which Is Better???

The QRP is basically another type of government retirement plan with greater options to choose the type of investments you want to make and allows for contributions up to $51000 a year.  I think it’s great for individuals who already have money locked up in IRA’s and old 401k’s and would like to be able to invest in assets away from the traditional Wall Street recommended mutual fund/stock market roller coaster.

That said, a QRP is still government retirement account with rules and restrictions regarding how much can be put in, borrowed out($50k max loan) and paid back (within 5 years). Like all qualified retirement plans, the benefit of a tax deduction and tax-deferred growth is given a lot of mention.  Using different words that mean the same thing, I would call it a “tax postponed” retirement account because that’s what tax-deferred means.  The only way to be free from govt handcuffs around this money is to pay income tax as it is earned.  We are still at historically low tax brackets.  Why take a tax deduction now if you believe tax brackets will increase while at the same time postponing your income taxes to a later date at an unspecified rate?  It’s like buying a house today and asking the realtor to let you know what it cost you in 20 years.  Same thinking applies with a QRP.  I do think it’s better than a traditional IRA and 401k but a QRP still ties the owner of the it to the government and future taxes at the highest income tax level they’ll be in when they to take distribution (or transfer the account upon death).

A Roth QRP is a better way to go because it is after tax money and proceeds will be tax free.  The downfall is the government can change the rules on these plans (same with a tax-deferred QRP) at anytime and you still have limitations on loan amounts and loan repayments. 

Revenue starved, insolvent governments (like the U.S. Government) can and do make changes to these plans as they see fit.  My guess is that they will put a cap on the amount that can grow tax-free in these accounts.  It’s already being talked about (see this article: http://www.heritage.org/research/reports/2013/05/obama-s-cap-on-defined-contribution-retirement-savings-plans ).

In summary, a private non-qualified vehicle like Bank On Yourself is the best way to go.  Bank On Yourself is not subject to annual contribution limits, or limited borrowing capacity & restrictive loan repayment schedules, access is granted anytime for any reason on a tax-favored basis with a policy loan, Bank On Yourself allows uninterrupted growth even when cash values are used elsewhere, and ultimately it will transfer an income tax-free death benefit to the beneficiaries over and above the existing cash values.  No other assets does this and accelerates in value upon death.  It’s the most versatile financial tool available to use for any type of investing including real estate.

A side note about real estate.  The IRS tax code already allows real estate equity to be exchanged tax free via 1031 exchanges.  Rental income is taxable but it’s minimized with depreciation and deductions related to maintaining the property.  Any distribution that comes from a QRP will be taxed as ordinary income which is the highest tax a person will pay so taxes will be paid one way or another.  It’s only irrelevant if you think taxes will be lower in the future.  If so, postpone for as long as possible… just don’t hold breath waiting for tax brackets to get any lower.   

I’d prefer to play it safe.  Keep my money as far away from government involvement and restrictions as well as guaranteed future tax obligations via the income tax and unknown future tax code.

JLM Wealth Strategies, Inc.
(925) 386-6639 Office
Bank On Yourself™ Authorized Advisor
IBC Practitioner
CA Life#0C42222
DRE #01390017