In 2004, we bought a house for $304,000 with no down payment and a 30-year mortgage at a 4% annual interest rate. This set our monthly mortgage payments at $1,451.34. You can verify these figures using mortgage calculators like the one available on Dollartimes. Fast forward 16 years, and the value of our house had …

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Table of Contents: A Budget System That Works Use Whole Life Insurance KEY POINTS Warren’s 50/20/30 Rule: Elizabeth Warren proposes allocating 50% of income to essentials, 20% to savings, and 30% for personal wants. This budgeting framework is aimed at balancing financial obligations, savings, and leisure. Practicality Concerns: This article highlights a discrepancy between Warren’s …

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Table of Contents: Understanding Your Financial Position Understanding Your Cash Flow and Foundation for Investing Setting Your Financial Goals Choosing Your Investment Approach Risk Tolerance Investment Accounts Exploring Investment Options Using Life Insurance as a Financial Tool Summary Deciding the most effective way to invest $10,000 isn’t straightforward. If someone offers you a quick, one-size-fits-all …

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Table of Contents: How Accelerated Death Benefits Work Types of Accelerated Death Benefit Riders Benefits of Using an Accelerated Death Benefit Accelerated Death Benefits with McFie Insurance Life insurance policies can have extra features known as riders, offering more benefits to the policyholder. One common rider is the Accelerated Death Benefit. This rider might cost …

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Table of Contents: Cash Value in Insurance Policies How to Use Your Life Insurance Cash Value Key Points to Remember Pros and Cons of Cash Value Life Insurance Cash Value Is Just the Beginning with McFie Insurance Two kinds of life insurance can provide immediate cash value: Whole life insurance, if it’s with an added …

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Table of Contents: Risks of IUL Policies The Misleading Nature of IUL’s Scheduled Premiums IUL vs. Whole Life Insurance Summary Nelson Nash, the creator of the Infinite Banking Concept (IBC), strongly advised against incorporating Indexed Universal Life (IUL) insurance into this strategy. He recognized that IUL policies might ultimately be more expensive for consumers because …

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Table of Contents: MEC Status for Universal Life Insurance Policies MEC Status for Whole Life Insurance Policies After the First 7 Years Summary The seven pay test determines whether a permanent life insurance policy is classified as a modified endowment contract (MEC). Within the first seven years, the total amount paid in premiums must not …

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Table of Contents: How Does Bank On Yourself Work? Is Bank On Yourself a Scam? What are Some of the Pros of Owning Participating Whole Life Insurance? Are There Any Cons to Owning Participating Whole Life Insurance? There have been various financial strategies over the years, starting with LEAP, followed by Infinite Banking or Becoming …

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“There is a great disturbance in the force.” Initially, the New York State Department of Financial Services announced their intention to crack down on insurers and agents who mislead clients through complex contracts that obscure the risks involved in buying and owning universal life insurance products, including Indexed Universal Life. Table of Contents: Problems With …

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The name is catchy—”Wealth Beyond Wall Street.” Most people want to find wealth beyond Wall Street to avoid risk. Who wouldn’t want to be a safe money millionaire? In this article, we share what’s actually going on with the main theories behind Wealth Beyond Wall Street and Safe Money Millionaire. 57-page slide deck Many people …

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