Im Ticked About This Infinite Banking Policy And here Is Why

What Chris is about to share is not something that he would want you to feel depressed about.

Even though he has been semi-retired and out of the rat race, he has to come back out of retirement; primarily because he keeps seeing things that cost people thousands or maybe even millions of dollars.

Now this is why Chris Miles is ticked off!

Tune in, you wouldn’t miss this for the world!

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Hey everybody! This is Chris Miles. And that was just about scare me how I said that. Hey, This is Chris Miles Cash Flow Expert and Anti-Financial Advisor. Hey guys, I want to share something because I’m kind of ticked off right now. And I just want to share this, not to make you depressed or anything like that. But even though I’ve been, you know, semi-retired myself, right? I’ve been able to be out of the rat race for, I don’t have to work and do those kind of things. And so, I’m able to retire, but now I’ve come back out of retirement primarily because I keep seeing stuff like this over and over. And it drives me nuts because I know that it costs you thousands, tens of thousands and even hundreds of thousands or millions of dollars. And this is on a tiny scale.

I had a client just recently where same thing happened with them, but it was a $2 million difference in 20 years. I’m going to show you something really tiny because I want you to just to see how magnificently bigger this is. I’m coming up with words out of my mouth, obviously. Because you know, I had a client that said, Hey, I’ve got my kids. I set up a plan with them with a company I actually use. And this guy that’s done doing this, these policies. He’s definitely not no small beans. He’s actually a pretty good infinite banker, right? But again, like what I do is max ROI, infinite banking. And I want to show you that it’s not just about having a lower death benefit or anything. In fact, in truth, you actually can have both more cash and a bigger death benefit if you design these right.

And seriously, the only reason that this was designed this way as my guess is that because it was such a low premium, the guy wanted to make more money to make it worth his time. But that’s beyond the point, because again, it’s got to be about you and what helps you best. So I’m going to share my screen to show you what I’m looking at here, right? Let’s see. All right, here we go. Now this one right here, this is the example that was said. So this is a with the company I use Penn Mutual. I use several different companies, but this one definitely is great for creating biggest bang for your buck, right? Getting that maximum ROI. So I use this majority of the time, use this company. Now he’s showing you here. This is an in force illustration. So he already set this policy up almost a year ago.

But by this point now it’s actually about the, where it’s hitting that one year cash value, which you see here is going to be about 1178 about right about now. So now you see the death benefits about 264,000, right? Which is great. That’s fine. But here’s the thing. And I think he front-loaded this a little bit to make it higher. But notice he’s putting in 778 per year on his son. This is a seven year old son. He’s doing it for, so this is becoming kind of like his own, you know like college savings slash whatever he wants it to be. This is the savings for his child. And he did it for all three kids. Now you’ll see that they run this out forever, right? Like this goes out till basically you’re a hundred and voila, you know, they almost get it to a million bucks by age 100.

Now here’s the thing that ticks me off. Right? Because I’ve seen how this is designed. Like I know how to do this better. So I actually told them, I said, you know, when I send that, like I was crafting the email before I ran the numbers. I said, you know, you may not want to mess with us at all. It’s probably gonna be close. We’ll have to delete some of this because when I ran it, I said, okay, let’s take that 1178. I’m not encouraging him to really try to cancel to go with the same company again, like, that’s the thing we’re in discussion with, but watch this. Right? So 1178. So he’s already paid a big chunk, like the majority of your fees come out in that first year, you know? And in fact about half went here. So I’m guessing he probably put in over $2,000 to begin with in the first place.

So I said, all right, let’s just presume we do it again. So you have to go through that same period. But again, I minimize those costs as much as we can. So really my year one is going to be their year two. So there’s 1403 is what you have after two years. Right? So I’m going to, my year, one’s going to have the money from your one plus putting in money, starting over again, watch this your one 1614. Now remember, even with this policy where he’s already paid more of the costs look, 1400 versus mine already in year one 1614 day one, he’s already got more cash in his policy than that. Now here’s the one place he doesn’t have more knows the deafness 154,000 versus 264,000. So those are about a hundred thousand dollars less death benefit. But watch this, notice that his death benefit stays about a quarter million for really at least 25 plus years, right?

Mine ends up paying a quarter million. You’re roughly about, you know, where there it is. Yeah, right there 254,000, but 19 years in. So it does steadily creep up, but notice your five, I’ve got 4,600 bucks. Now they’re your six would be the same thing for them. 4,165. We already have 500 more dollars by year five, right? Five years in your 10 for mine, 10,000, just over 10,000 bucks. So already he’s got way more he’s put in, right? For them, that’s your eleven, 9300 bucks. Now look at this. So like, you know, 21, you’re 21 for them, 22,000 for me that same year 20, 26,000, almost 27,000. Now guys, this is assuming the same dividends. This is not like a little pinging contest between companies. This is the same exact company just designed differently with better cost structures, right?

You know, 40,000 by year 25 flash forward here, let’s go all the way to year with the age 60 here. Right? So you’re age 60 showing $250,000. Even by the way, the death benefits 580,000. So $250,000 of cash value. Now that’s your 61 for him? Or age 61 here. So age 61 for him shows about 180,000, 250, right? Like I just said before 250, right there versus just under 180,000, even by, I mean, even to get ridiculous here, right? Even by the, by was it eight? You know, you’re 60 here with them 245,000 with them. That’s your, what was that? 59, you know, 349. I mean, it’s just ridiculous. I even stopped at age 65. I didn’t put any more in, so I stopped at 330,000, even though it keeps growing from there on right. 330,865 for them, that’s your 59, 230,000.

That’s a hundred thousand dollars difference there in just and just what, you know, in those many years, right? Now, the crazy thing is I’ve actually dropped it down the minimum 329 bucks a year. So for those last five years, so really age 60 was like the last time that we were apples to apples and then I just dropped it off. And even though I’m putting in less, it still kicks the crap out of it. And by the way, look, it’s got a $659,000 death benefit where here, same place, 422,000. So I had a more death benefit, more cash value, more leverage, more everything main difference was just designed. It was just how you designed the costs. And that’s my point, guys. It’s not about dividends and all that kind of crap. Like those that’s just smoke screen. You know, I have companies that pay 1% dividends that can be companies paying, 6% dividends, but here’s the key.

It’s all about designing the cost. How can you lower those costs as much as you possibly can while keeping it tax-free while keeping it within those limits. That is the difference guys. And this is just, you know, over 700 bucks a year, right on theirs versus mine. Like it’s just ridiculous, by the way, look, he put in 44,000 to have 330,000 bucks. Now that’s over 50 years. Granted that’s a long period of time, but it doesn’t matter. The fact is that, imagine what that’s like, if this is just thousands of dollars, right? What if it’s just thousands? What if this is like, you’re talking about putting in 10,000, 20, 50, hundred thousand a year, don’t you think this is going to make a difference? Yeah. Huge difference. So guys, that’s why I’m ticked off. I’m ticked off because this should not be happening. Granted, this is good.

This is the typical infinite banking policies that you’re seeing out there. This is why I tell people like infinite banking is not the answer, right? And by the way, the best way to use this is, to invest outside of the policy, to do other things like buying real assets, like real estate and those kinds of things to generate more cash flow. Then this thing becomes an amazing plan. By itself, It’s great. It’s good. But it can be always be better. And of course, if you can lower the costs, maximize a return, get a max ROI, infinite banking policy. Like when I’m designing here, that’s where it makes all the difference. So guys just want to show you that because man, I was just fired up. It’s such a tiny policy, but look at the massive difference. That was a hundred thousand dollars difference from putting in the same amount of money. Guys, that should not happen to you. That’s my challenge to you is that this has got to stop. Anyways, just want to share that with you guys, you can always, if you have questions, you can always go check out WWW.MONEYRIPPLES.COM Contact us through there. So anyways, make it a great day! We’ll see you later.