Category: Financial Planning

Video: Why you need the Dow to be at 27,000 today

When do you think the Dow will hit 27,000?

Does that seem like a crazy or dumb question?

If you bought into Wall Street’s mantra that as long as you invest for the long haul you’ll come out ahead, you need to watch this video today.

Click the play button below to see the shocking truth Wall Street doesn’t want you to know…

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Are you ready to do something different?

If you’re ready to find out how the Bank On Yourself method can give you the financial security and predictability you want and deserve, take the first step right now by requesting a free Bank On Yourself Analysis.
REQUEST YOUR
FREE ANALYSIS!

You’ll also get a referral to one of only 200 financial representatives in the country who have met the rigorous requirements to be a Bank On Yourself Professional, who can answer your questions and show you how much your financial picture could improve when you add Bank On Yourself to your financial plan.

The Ultimate Wealth-Building and Retirement Strategy… Whether the Market Goes Up, Down or Sideways

Have you been disappointed by your 401(k), IRA or other retirement plan?  Conventional wisdom tells us these plans are the best way to save and invest for retirement. Yet following this advice has resulted in financial insecurity for most Americans.

Because of this, most baby boomers have been forced to postpone retirement an average of five years.1

I’m often asked how using the Bank On Yourself method to save for retirement compares to traditional plans, so I put together this short video that reveals seven reasons Bank On Yourself makes an excellent retirement plan alternative.

Click the play button in the video below and see how many of these seven advantages you’d like to have in your financial plan…

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The Ultimate Wealth-Building and Retirement Strategy… Whether the Market Goes Up, Down or Sideways

Would you like to find out how big your nest-egg could grow – guaranteed – if you added Bank On Yourself to your financial plan? No two plans are alike – yours would be custom-tailored to your unique situation, goals and dreams. To find out what your bottom-line numbers would be, request a FREE, no-obligation Analysis today.
REQUEST YOUR
FREE ANALYSIS!

If you’re wondering where you’ll find the money to fund your plan, keep in mind the Bank On Yourself Professionals are masters at helping people restructure their finances to free up money to fund a plan. Here are the eight most common places they look.

When you request your FREE Analysis, you’ll get a referral to one of only 200 financial representatives who have met the rigorous training and requirements to be a Bank On Yourself Professional. They’ll show you why Bank On Yourself is the ultimate wealth-building and retirement strategy… whether the market goes up, down or sideways.

1.  Bankers Life and Casualty Center for a Secure Retirement, May 2011

How to become your own source of financing

Updated November, 2019

In a Nutshell: By using a little-known form of high cash value, dividend-paying whole life insurance, you can essentially be your own “bank” — your own source of financing — instead of relying on traditional lending institutions.

What if you could bypass banks, finance and credit card companies altogether and become your own source of financing?

It’s easier to do than you might think and hundreds of thousands of people are already doing it!

To show you how to become your own “bank” — your own financing source — we’ve created a fast-paced video. This video reveals . . .

  • A way to make major purchases that beats financing, leasing or even paying cash for them!
  • How the Bank On Yourself method lets you use your money to buy things…  but still have it earning interest and dividends for you
  • Six ways this method beats using traditional financing
  • How famous people like Walt Disney and J.C. Penney used this method – when no banker would lend them a dime
  • How the average family can add $500,000 – or more – to the their lifetime wealth, simply by running their car and vacation purchases through a Bank On Yourself plan

Click the play button below to watch the video…

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Would you like to find out how much more wealth you could have when you become your own source of financing?

No two Bank On Yourself plans are alike. Each is custom tailored to your unique situation, goals and dreams. To find out what your bottom-line, guaranteed numbers and results would be if you added Bank On Yourself to your financial plan, request a free, no-obligation Analysis today, if you haven’t already done so.
REQUEST YOUR
FREE ANALYSIS!

If you’re wondering where you’ll find the money to fund your plan, keep in mind the Bank On Yourself Professionals are masters at helping people restructure their finances to free up money to fund a plan. Here are the eight most common places they look.

Here’s another video you may be interested in…

Would you like to see a specific example showing how much guaranteed and predictable income you could have in retirement, using the Bank On Yourself method?

Click the play button in the video below to see a fascinating example:

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Why conventional financial planning doesn’t work… and what you can do about it

This short video reveals the problems with the conventional wisdom about financial and retirement planning, and explains why the average family with a head of household age 60-70 has been able to save only 25% of what it will need for retirement.

Many readers of this blog have asked to see more specific examples showing how much guaranteed and predictable income you could have in retirement, using the Bank On Yourself method. So I’ve included a fascinating example on this video.

If you have the feeling your financial plan has been treading water (or going backwards) for far too long, you’ll want to be sure to watch this video now. It’s got some pretty cool animation in it, too!

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TIRED OF WATCHING YOUR FINANCIAL PLAN GO NOWHERE?

Find out how the Bank On Yourself method can give you the financial security and predictability you want and deserve. It’s NEVER had a losing year in 160 years! Take the first step right now by requesting a FREE Bank On Yourself Analysis.

Wondering where you’ll find the funds to start a plan? Don’t worry! You’ll receive a referral to one of only 200 financial representatives in the country who have met the rigorous requirements to be a Bank On Yourself Professional and can show you eight ways to find money to fund a plan that can help you reach as many of your goals as possible, in the shortest time possible.

The Secret to a Financially Stress-Free Life

I’ve put together a fast-paced three-minute video that reveals the surprising secret to having a financially-stress free life.

Click the play button to watch it and tell us what you think in the comments box below…

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Would you like to find out how you could have a rock-solid financial foundation and build wealth without the risk of traditional investments?

No two Bank On Yourself plans are alike. Each is custom tailored to your unique situation, goals and dreams. To find out what your bottom-line, guaranteed numbers and results would be if you added Bank On Yourself to your financial plan, request a free, no-obligation Analysis today, if you haven’t already done so. That way you can make sure this is the year you take back control of your money and finances!
REQUEST YOUR
FREE ANALYSIS!

If you’re wondering where you’ll find the money to fund your plan, keep in mind the Bank On Yourself Professionals are masters at helping people restructure their finances to free up money to fund a plan. Here are the eight most common places they look.

Money and Investing IQ Contest Results

The results of our “Test Your Money and Investing IQ” blog contest are in – once again proving that we have a lot of smart subscribers!

But some of these questions about key money and finance basics tripped up some of our readers – almost no one got all five answers right. Making financial decisions without knowing the correct answer to even one of these questions can easily shave six figures or more off your lifetime wealth.

So I urge you to pay close attention to the correct answers below. You’ll also find a list of our six contest winners at the end of this post.

Here are the correct answers given by readers to the five questions…

Question #1: If you finance a $30,000 car through a finance company, your actual cost for the car is the money you spend on it, plus the interest you pay, less the value of your trade-in at the end of your loan repayment period.

If you pay cash for a car, what’s your actual cost for the car?

Finance major purchases like cars through Bank on Yourself method to save and make money
Finance major purchases like cars through Bank on Yourself method to save and make money

Answer: Joe Goldsmith pointed out what many people with alphabet soup after their name don’t get – that “paying cash for the car is just another form of financing.”

John Nicholson summed it up succinctly: “If you pay $30,000 cash for a car, your actual cost is the money you spent on the car, less the trade-in value at the end of the period, plus the opportunity cost – the loss of interest that the $30,000 could have earned.”

Perry Blouin went on to calculate the enormity of the total loss you could have over 40 years because of this “opportunity cost.” And Valerie Coffman noted, “If you use a Bank On Yourself policy (to pay for the car), you make money as if you never took it out, and you make money on yourself when you pay it back. Awesome!”

As Eric pointed out, “with Bank On Yourself, you accumulate the $30,000 and when it comes time for your vehicle purchase, request a check from the insurance company, receive it within 48-72 hours and then be ready to negotiate with the car dealership.”

Using your Bank On Yourself policy to pay for major purchases also gives you access to money on your terms rather than someone else’s. You can pay it back on your own schedule without worrying about bill collectors, late fees or black marks on your credit report. It beats financing, leasing or even directly paying cash for things by a long shot.

To find out how much more lifetime wealth you could enjoy – simply by using the Bank On Yourself method to make major purchases versus the other options available to you, request a FREE no-obligation Analysis that will show you your bottom-line results. I think you’ll be amazed!

Unlike stock marketing, Bank on Yourself method does not rely on sale of asset to deliver profits

Question #2: If you have a $20 stock and it goes up by 40%, how much money did you make on that stock? (Hint: This is about a key financial principle, not a math question.)

Unlike stock marketing, Bank on Yourself method does not rely on sale of asset to deliver profits

Answer: The talking heads on Wall Street NEVER get this one and do their best to make sure you don’t figure out the blindingly obvious answer to this question!

As Ruth noted,

You don’t make any money until you actually sell your stock.”

Likewise, it makes me crazy when people talk about how much value their home has lost since the real estate bubble burst. You don’t have a REAL gain (or loss) until you sell an asset and lock your profits in.

Which is in stark contrast to the Bank On Yourself method. The gains you receive each year (guaranteed and predictable) are locked in the moment they’re credited to your policy. As for losses… well, there aren’t any. This is based on an asset class that has increased in value every year for over 160 years!

Question #3: According to Morningstar, Inc., the top-performing mutual fund for the last decade (ending December 31, 2009) enjoyed an 18% annual return.

However, the typical investor in that fund wasn’t so fortunate.

What was the annual return of the typical investor in that top-performing fund? And why was their return so different from the return reported by the fund?

Answer: Only one person – Raymond Trembath – nailed the shocking correct answer to this question (no one else came even close), and he also noted the reasons why:

“The typical investor in the best performing mutual fund of the last decade lost 11% annually, even though the fund itself rose by more than 18% annually. The reason this could happen is that all mutual funds are legally allowed only to advertise the results of their ‘buy and hold’ investors, in spite of the fact that long-term mutual funds tend to be held for less than half a decade!”

Doesn’t this typify the smoke and mirrors that the Wall Street Casino uses to pull the wool over our eyes?

If you find it hard to believe that the results mutual funds report could be so different than the results the investors in those funds get, I urge you to read the article supporting this from the Wall Street Journal.

The ultimate financial security blanket

Did you know that the Bank On Yourself wealth-building method has NEVER had a losing year? Used by Walt Disney and J.C. Penney, it has stood the test of time for more than 160 years.

To find out how you can grow your nest-egg safely and predictably, even when stocks real estate and other investments tumble… and how much money you could have – GUARANTEED – on the day you plan to retire, request your FREE no-obligation Analysis and Recommendations now.

You’ll also get a referral to a Bank On Yourself Professional who can help you find money you didn’t know you had to fund your plan.

 mutual funds and investment experts are human too and sometimes make mistakes

Question #4: What percentage of mutual funds, financial representatives and investment advisory services underperform the overall market? And why?

 mutual funds and investment experts are human too and sometimes make mistakes

Answer: Nick H. hit this one spot on when he said, “80% per Hulbert Financial Digest.”

And it’s not just because of the fees they charge. It’s because all the “experts” are humans, too, and are “predictably irrational,” buying and selling at the wrong times.

Question #5: You could have $10,000 in a mutual fund that reports an average annual return of 25% for four years… and at the end of the fourth year end up with only the $10,000 you started with.

How is that possible?

Answer: Doc Youngblood’s little story was such a great, entertaining explanation of this, I decided to include his response in full:

“How is it possible to have $10,000 in a mutual fund that reports an average annual return of 25% for four years… and at the end of the fourth year you end up with only the $10,000 you started with?

The key to the question’s answer is hidden in this short, simple story, but hidden in plain sight for those willing to see.

And the story? You’ll like this I promise—no animals were hurt during its filming.

rubber duck in a sea of cash

Imagine we are duck hunting and I shoot. I miss by a foot behind the duck. So I quickly aim and shoot again. I miss by a foot in front of the duck.

rubber duck in a sea of cash

By the law of averages, I hit a bulls eye. By the law of dinner, my plate is still empty.

So, if your mutual fund reports an average annual return of 25% for four years, does that mean you’ve got more money in your account?

Let’s play:

Year One: Year Two: Year Three: Year Four:
Starting balance: $10,000 Starting balance: $20,000 Starting balance: $10,000 Starting balance: $20,000
Change: +100% Change: -50% Change: +100% Change: -50%
Ending Balance: $20,000
(woo-hoo!)
Ending Balance: $10,000
(ah well, at least I didn’t lose my initial investment)
Ending Balance: $20,000
(hmm. . .it’s like déjà vu)
Ending Balance: $10,000
(can anyone say, “spinning my wheels”?)

Four years later you still have a $10,000 balance. But not once did the rate of return equal 25%. Here’s the percent change for each year: 100-50+100-50. So we add that up (100%) and then we divide that by four years to show our average rate of return is 25% for four years.

investor hiding from reality

Wait! A 25% average rate of return is supposed to be a great thing, right?

Follow the cash in the example above—did the cash increase? The numbers above show one scenario with a 25% average rate of return and ending up with exactly the same money you started with.

investor hiding from reality

However, 25% annual compound interest is a great thing. Take a look:

Year One: $10,000 becomes $12,500 at 25% compound interest.
Year Two: $12,500 becomes $15,625
Year Three: $15,625 becomes $19,531.25
Year Four: $19,531.25 becomes $24,414.06

Were you like me and confused about the two definitions? It’s very common to confuse them AND to assume that the average rate of return is a linear type of activity, one year after the next being the same. Average rate of return and compound interest are not the same.”

(For the record, you’ll find no smoke and mirrors when you see the bottom line numbers and results you could get when you add Bank On Yourself to your financial plan.)

Now for the list of our six contest winners…

There were so many insightful answers that it was hard to pick out only six winners. (All are being notified by email.)

The best entry, picked by our Bank On Yourself team, is Doc Youngblood, who wins a $100 Amazon Gift Card! (Doc – I guess you can tell your wife she was right!)

And the two runners up, who’ll get their choice of a $25 Dining Gift Certificate or a personally autographed copy of my best-selling book are:

1. Eric

2. Raymond Trembath

k on Yourself Test Your Money and Investment IQ contest winners and their prizes

There were also three winners who got at least one question right, who were randomly chosen to win prizes. The winner of the second $100 Amazon Gift Card is Robert N.

k on Yourself Test Your Money and Investment IQ contest winners and their prizes

And the two randomly chosen winners who’ll get their choice of a $25 Dining Gift Certificate or a personally autographed copy of my book are:

1. Carl Schoner

2. Rita

Thanks to everyone who participated in this blog contest. You are all winners for thinking – and seeing – through the conventional wisdom about money and finances that has cost so many people so much in lost money, lost time and broken dreams.

Test Your Money and Investing IQ

You can win one of six valuable prizes by participating in our “Test Your Money and Investing IQ” blog contest – just enter your answer in the comments box below by midnight Monday, November 14.

 Bank on Yourself financial questions to answer

At a dinner party recently, I sat next to a retired business owner and we got into a conversation about money and finances.

 Bank on Yourself financial questions to answer

In response to one of his questions, I mentioned an important principle of finance, at which point he turned to me and said, “I’m a CPA and an MBA and I’ve never heard of that!”

Actually, it’s fairly common that I meet highly educated people who are unaware of some of the really critical basics of how money and finances work.

Funny thing is that I think many of our subscribers know these principles, even if they don’t have alphabet soup after their names.

Applying a little logic and common sense (which is admittedly in short supply in our society today) is usually all that’s needed.

And to prove my point, I’m holding a contest to see how many of our subscribers can answer the questions below correctly.

If you answer even one of these questions correctly and/or insightfully, you can win a prize.

I know that people deepen their understanding more when they participate and articulate their thoughts, so I decided to “ethically bribe” you to take a shot at it by holding a contest.

Here’s all you have to do to enter the contest…

Bank on Yourself Test Your Money and Investment IQ contest winners and their prizes

Just type in your answer to any one or more of the five questions below, no later than Monday, November 14, at midnight.  If you want, you can comment on someone else’s answer to qualify to win.

Bank on Yourself Test Your Money and Investment IQ contest winners and their prizes

After the contest ends, our team will pick the best entry (best because it’s correct, insightful, entertaining or a combination of those).  That person will win a $100 Amazon Gift Certificate.  And two runners-up will be chosen to receive their choice of a $25 Dining Gift Certificate, or a personally autographed copy of my best-selling book.

Three more winners will be chosen at random – all entries containing at least one correct answer will be entered into a random drawing for another $100 Amazon Gift Certificate and two prizes of your choice of a $25 Dining Gift Certificate or autographed book.  (Sorry – U.S. residents only.)

Although there are five questions, you don’t have to answer all of them to qualify.

So test your money IQ now by answering as many of these five questions as you want:

number1If you finance a $30,000 car through a finance company, your actual cost for the car is the money you spend on it, plus the interest you pay, less the value of your trade-in at the end of your loan repayment period.

Question:  If you pay cash for a car, what’s your actual cost for the car?

If you have a $20 stock and it goes up by 40%, how much money did you make on that stock?  (Hint:  This is about a key financial principle, not a math question.)

number3 According to Morningstar, Inc., the top-performing mutual fund for the last decade (ending December 31, 2009) enjoyed an 18% annual return.

However, the typical investor in that fund wasn’t so fortunate.

Question:  What was the annual return of the typical investor in that top-performing fund?  And why was their return so different from the return reported by the fund?

TIRED OF WATCHING YOUR FINANCIAL PLAN GO NOWHERE?

Find out how the Bank On Yourself method can give you the financial security and predictability you want and deserve.  It’s NEVER had a losing year in 160 years!  Take the first step right now by requesting a FREE Bank On Yourself Analysis.

Wondering where you’ll find the funds to start a plan?  Don’t worry!  You’ll receive a referral to one of only 200 financial representatives in the country who have met the rigorous requirements to be a Bank On Yourself Professional and can show you where to find money you didn’t know you had to fund your plan.

number4 What percentage of mutual funds, financial representatives and investment advisory services underperform the overall market?  And why?

number5 You could have $10,000 in a mutual fund that reports an average annual return of 25% for four years… and at the end of the fourth year end up with only the $10,000 you started with.

How is that possible?

So there you have it – just answer one or more of these questions, or comment on someone else’s answer, no later than midnight, Monday, November 14, to get in the running to win one of the six prizes!

Comments

We’ll announce all the winners in a blog post later this month.

So scroll down to the comments box below and start typing!  (Note – all comments are moderated, so there will be some delay before your comment appears.)

Compare your Fear Factors choices to the rest of America

Financial Pumpkin With more than 500 responses in so far to The Bank On Yourself Fear Factors Challenge, you may be interested in knowing how your choices compare to the rest of America.

Here is how the responses to each of our 10 survey questions have broken down.  The percentages reveal which option our survey-takers find more scary!

You’ll see that snakes, blood, public nudity, eating fire-hot peppers, and even close proximity to a psychotic killer caused far fewer trembles than did the terrifying prospect of winding up in a serious financial jam.

Here’s what Americans find most scary…

1. Which of the following is more frightful to you?

  • 22.2% – Death
  • 78% – Outliving Your Money

Question 1

2. Which of the following is more frightful to you?

  • 28.6% – Having all of your investment decisions — good and bad — published in your local newspaper
  • 71.4% – Walking naked down a fashion runway while being photographed

Question 2

3. Which of the following is more frightful to you?

  • 17.5% – Having to remain awake for 48 uninterrupted hours
  • 82.5% – Having to memorize all the fine print on your 401(k) plan in no more than 48 hours

Question 3

4. Which of the following is more frightful to you?

  • 64.3% – Watching your stock portfolio lose 40% of its value in only a few weeks
  • 36.4% – Ingesting 40 habanero peppers within 24 hours

Question 4

The ultimate financial security blanket

Did you know that the Bank On Yourself wealth-building method has NEVER had a losing year? Used by Walt Disney and J.C. Penney, it has stood the test of time for more than 160 years.

To find out how you can grow your nest-egg safely and predictably, even when stocks real estate and other investments tumble… and how much money you could have – GUARANTEED – on the day you plan to retire, request your FREE no-obligation Analysis and Recommendations now.

5. Which of the following is more frightful to you?

  • 58.8% – Sitting for 30 minutes in a tub of live snakes
  • 41.7% – Explaining to your family or other loved ones that you’ve lost your home to foreclosure

Question 5

6. Which of the following is more frightful to you?

  • 49.2% – Having to pick the one mutual fund (among hundreds) that will outperform all others during the year
  • 52.1% – Bobbing for a 10 oz gold bar in a vat containing 50 gallons of cow’s blood

Question 6

7. Which of the following is more frightful to you?

  • 9.4% – Going on twelve once-a-month blind dates with a randomly selected bachelor or bachelorette
  • 91% – Entrusting your retirement portfolio to an anonymous fund administrator, who may or may not have any special education or training

Question 7

Editors Note: Although 9 out of 10 Americans fear entrusting their retirement to an incompetent administrator, millions of Americans may unknowingly be doing exactly that right now! Read our shocking exposé and learn the facts!

8. Which of the following is more frightful to you?

  • 64% – Having my personal tax returns audited by the IRS
  • 37.3% -Walking around for a week wearing pants with pockets overflowing with live worms

Question 8

9. Which of the following is more frightful to you?

  • 31.7% – Be strapped atop a vintage stunt plane while it performs a typical aerobatics routine
  • 70.% – Be tied to the Social Security program as your sole source of retirement income

Question 9

10. Which of the following is more frightful to you?

  • 66.1% – Losing my job and having to live only off of my current savings for a year
  • 34.6% -Renting an extended-stay room in the Bates Motel and sharing a shower with Anthony Perkins

Question 10

Were you surprised by any of your responses?

These results are a sad commentary on the financial condition and current state of mind of so many of our family members, friends, neighbors and colleagues.

The definition of insanity is doing the same things in the same way and hoping for different results.  So, if you’re ready to find a better way to save and invest for your financial future that gives you peace of mind and lifetime financial security, check out the Bank On Yourself method.
REQUEST YOUR
FREE ANALYSIS!

To find out how much brighter your financial picture could be if you added Bank On Yourself to your financial plan, request your free, no-obligation Analysis now, while it’s fresh on your mind!

Bank On Yourself Dividend Paying Life Insurance vs Savings Account

We received dozens of insightful entries for our “Bank On Yourself vs. savings account” contest.  They confirmed – once again – that we have a whole bunch of very smart subscribers!

The contest even inspired one reader to write a poem!

I’ve been studying these topics full time for nearly a decade now, and even I learned some new things.  So, whether you use the Bank On Yourself method or not, or you consider yourself to be an expert or a novice at understanding money and finances, you should read this!

You will undoubtedly learn some things you didn’t already know!

There were so many great contest entries, it was really tough for our team to single out only the five best entries, and the winners of the iPod Touch, Amazon.com gift certificate and more are listed below.

The contest question was:  How is dividend-paying whole life insurance different from a savings account, besides the death benefit?

Our readers gave a dozen or so distinct, key differences between the two, and I’ll summarize a number of them in a moment.

However, I think one really critical advantage of a dividend-paying whole life policy wasn’t mentioned…

Many retirees today can’t stomach the volatility or unpredictability of investing in stocks and other traditional investments and were counting on their interest income from CD’s, money markets and savings accounts.
[Read more…] “Bank On Yourself Dividend Paying Life Insurance vs Savings Account”

Is Bank On Yourself a scam? (Part two)

We received several hundred correct entries to last week’s blog contest and the five randomly picked winners are listed below, along with the details of a NEW contest I’m holding.

Contest Prizes
Enter below to win these prizes!

You could win an iPod Touch, $100 Amazon.com gift certificate, a $25 dining Certificate and more!

In case you missed last week’s contest, I had posted a podcast discussing some of the internet forums where people anonymously debate the merits of Bank On Yourself and discuss whether or not it’s a scam.

Contest Prizes
Enter below to win these prizes!

On one of those threads that comes up very high in the search results, one of my toughest, potty-mouthed critics has slowly come around and admitted I’m right about many of the points I’ve been making.

When challenged by another poster about the actual returns people get in the stock market, he dragged out 29 years of records of his own investing accounts, and was shocked to discover what his returns had actually been.

The contest was simple to enter – just listen to the podcast where I revealed what my critic discovered was his actual annual rate of return BEFORE accounting for inflation and taxes… and then tell us what the percentage was.

Not a Scam

Since the contest has ended, I can reveal the answer now.  My critic averaged a 4.5% annual return over the past nearly three decades of investing in the stock market.

That’s BEFORE accounting for inflation, which averaged more than 3% per year, bringing his real return down closer to 1% per year.

And since much of his investing has been in tax-deferred accounts, he has yet to pay taxes on that money.  Of course, he doesn’t know what the tax rates will be during his retirement, when he’s taking income from those accounts.

But what direction do you think tax rates will be going over the long term?  (If you said “down,” I’ve got a Rolex watch I’ll sell you for $20.)

When you account for inflation and taxes, the question that ought to hit you over the head is…

Was it worth it?!?

Was it worth all the roller-coaster ups and downs and the sleepless nights to get 4.5% per year before taxes and inflation?

As I pointed out in the podcast, Bank On Yourself can beat that with a stick.   And without the risk or volatility of traditional investments.

Keep in mind that no two Bank On Yourself plans are alike…

Each is custom tailored to your unique situation, goals and dreams. To find out what your bottom-line, guaranteed numbers and results would be if you added Bank On Yourself to your financial plan, request a free, no-obligation Analysis now, if you haven’t already done so.
REQUEST YOUR
FREE ANALYSIS!

If you’re wondering where you’ll find the money to fund your plan, keep in mind the Bank On Yourself Professionals are masters at helping people restructure their finances to free up seed money to fund a plan. Here are the eight most common places they look.

My critic’s experience wasn’t unique, although I’ll commend him for actually looking at his statements and then being willing to admit publicly – if anonymously – his disappointing results.

One subscriber to the Bank On Yourself blog made a similar discovery and posted this comment on last week’s blog:

Wow. I had the exact same experience when investigating Bank On Yourself before starting my own plans (have multiple policies and am LOVING the results – exactly as predicted or better, no surprises and I sleep well at night). I made the same Google search and spent hours poring over the posts. What struck me was that nobody ever presented any evidence of any kind of scam. Some folks disagreed with the assumptions or touted their wildly inaccurate assumptions about equities as a more attractive alternative, but never did anyone have anything remotely scam-ish to report.”

This comment came from Dan Proskauer, a very analytical man who has spent literally hundreds of hours researching Bank On Yourself, running spreadsheets and crunching the numbers.

He says the Bank On Yourself method looks better the more he studies it.  Dan revealed the conclusions of his research in an interview I did with him last year.  I’d encourage you to read or listen to it.

And this concise comment made last week by a subscriber named John really summed up what a lot of people are (finally) figuring out…

I LOVE my Bank On Yourself plan, it does everything I was promised and more. I’ve not borrowed a penny from a bank or credit card in over a year. Why should I? I lend it to myself! And if you want a scam, I have two words for you … Wall Street”

Now for the details of our NEW contest…

A comment was made on the same thread that debates the merits of Bank On Yourself that it essentially works the same as a savings account, but with the added advantage of having a death benefit.  This statement really got me thinking.

Enter-To-Win

While there certainly are some ways in which Bank On Yourself-type policies function like a savings account, I can think of a lot of major, critical differences.

But rather than me telling you what those differences are, I’d rather hear what you believe they are.  And some of our subscribers are a whole bunch smarter than I am.

Enter-To-Win

So, I’m holding another contest, and our team will pick the five best answers and award a top prize of an iPod Touch (a $229.00 value), a second prize of a $100 Amazon.com gift certificate, and three runner-up prizes that will give you a choice of a $25 dining gift certificate or a personally autographed copy of my best-selling book for you or to give to someone you care about.

Just answer the following question in the comments box below no later than midnight, Monday, October 3:

The contest question is:  How is dividend-paying whole life insurance different from a savings account (besides the death benefit)?

You can address one or more differences, or comment on someone else’s response to qualify.

And if you think I’m “full of it,” feel free to tell us that, too.  (Some of our subscribers don’t seem to need any encouragement to do that…)

We’ll circle back here next week to report on the contest results and winners.

To qualify, just type in your response in the comments box at the end of this post no later than midnight, Monday, October 3rd.  Please note that all comments are moderated, so there will be some delay before it appears.  (Sorry – open to U.S. residents only.)

And now for the winners of last week’s contest.  As I mentioned, we received hundreds of entries with the correct answer by both email and via the blog comments.  These five randomly chosen winners have all been notified by email:

$100 Amazon.com gift certificate – Sheri Browning

The four winners of the $25 dining gift certificate or autographed book – Jeannie Fisher, Kevin Caldwell, Lynne, and Rich Rhoads

Okay!  Scroll down to the comments box and enter the contest…