The Chicago Sun Times recently spotlighted Bank On Yourself in a special supplement on “Money Management: Your Educational Guide to Achieve Personal Financial Stability.”
We just completed a short, fast-paced video explaining what Bank On Yourself is and how it works, that I think you’ll find very helpful.
Click on the play button to discover…
How Bank On Yourself grows your savings both predictably and guaranteed… even when stocks, real estate and other investments tumble
How it can beat the pants off your best saving or investing method
How the kind of policy used for Bank On Yourself is different from the ones Suze Orman, Dave Ramsey and 99.9% of all financial representatives talk about
Why it’s an excellent alternative to traditional retirement plans
How you can use it to get back what you pay for major purchases
Where to find the money to get started
After you watch the video, I’d love to hear your thoughts and feedback – so please speak your mind below.
Ten years ago this week, the book, “Dow 36,000: The New Strategy for Profiting from the Coming Rise in the Stock Market” was published.
It became a best-seller. And, according to a recent article in the Wall Street Journal titled “Lessons of a Bull Market That Never Happened” (9/20/09):
Back then, the only people subject to sustained derision on Wall Street were those who dissented. Anyone who warned that shares might disappoint was ignored. The few predicting a crash — let alone two — were considered cranks.
Yet, in spite of the current stock market rally – one of the steepest in history – the Dow is STILL below where it stood in September 1999!
How many times during those years were your hopes raised, only to be dashed again and again?
Interestingly, one of the authors of that book recently said he still believes the Dow will hit 36,000. Meanwhile, there’s some guy now predicting the Dow will go down to 1,000!
What do YOU think will happen… and why? You can voice your thoughts below…
Finance and investment expert and New York Times best-selling author, Martin Weiss, Ph.D., recently interviewed me. You can listen to this fast-paced and timely interview by just turning up your speakers and click here.
Dr. Weiss wrote the subscribers to his “Money and Markets” newsletter about how he had just read my book and felt it has excellent advice on “coping with low investment income in tough times.”
Here’s a few of the comments I’ve recently received from folks who use Bank On Yourself to reach a wide range of financial goals and dreams.
The first comes from Devin Smith, a subscriber from Colorado who sells advertising (reprinted with his permission):
The Bank On Yourself program is fantastic! I received my first (annual) statement this month and couldn’t believe the growth in the policy is UP, not DOWN! And my policy has been in place during one of the worst stock market/financial meltdowns in history! I am absolutely sick when I receive my quarterly statements for my 401(k) – I’m down almost 50% in the past year.
I plan to start another Bank On Yourself plan as soon as I can. Thanks for introducing me to this wonderful financial tool.”
Do you believe it’s true that you have to risk your money in order to grow a sizable nest-egg?
If so, you’re not alone – that’s the conventional thinking we’ve long been brainwashed to believe. But a shocking new study reveals just how fundamentally flawed this belief is…
For the last 40 years, ordinary long-term treasury bonds have outpaced investing in the stock market! This is according to a just-released study in the Journal of Indexes (May/June 2009 issue) by Robert Arnott.
So, what does that mean?
It means that for the past four decades, the only “rewards” investors have received for taking the extra risk of stocks and equity mutual funds are sleepless nights and broken dreams of retirement”
According to a recent comment on this blog, I’m full of it. Apparently, the author thinks I pulled the following statement out of my butt…
The reality is that the typical mutual fund investor has actually been losing 1 percent per year over the last 20 years, after adjusting for inflation.”
The statistic comes from the respected research firm, Dalbar, Inc., in its 15th annual study of mutual fund investor behavior. The study measures the returns investors actually get, not the returns they wished they got.
According to Lou Harvey, the president of Dalbar, the study once again revealed that
“investor returns lag what performance reports and prospectuses would lead one to believe is achievable. While those returns are theoretically achievable, the reality is that investors are not rational, and make buy and sell decisions at the worst possible moments.”
Let me paint a picture of how this happens: Lets say you do what the author (who calls himself “David K.”) of the rather nasty blog comment suggests and buy “simple index funds” and hold them for twenty years.
One of my most influential mentors (Dan Kennedy) says,
If you don’t offend somebody by noon each day, you’re not doing much.”
So I want to thank Danny Snyder, whose post to this blog you’ll find below (exactly as he submitted it), for confirming that I am indeed doing something:
First of all using the words “money on steroids” immediatly [sic] puts you in the liar and non-trustworthy category. If you put in $5314.44 and your cash value is $2937.18 you need some ritilin, you are A.D.D. Dave Ramsey (who is in a category way above the likes of you and Suze Boreman) knows of what he speaks. Millions of people have changed their lives due to Dave’s advice. You need to tread very lightly, if you want to succeed and prove yourself. Think… before you tear down people you do not know. I do actually Bank on Myself.
Your [sic] a scam!
Danny Snyder
On this website, I have stated that I agree with many of the basic principles taught by the financial “gurus” like Dave Ramsey and Suze Orman. And I know they have helped turn around the financial lives of many.
UPDATED December 2024: It’s been more than a decade since I challenged Suze and Dave to a debate, but they haven’t taken me up on it yet. This post sparked some very lively debate and insightful comments, so be sure to read those, too.
Suze Orman, Dave Ramsey and many other financial advice-givers tell you to avoid whole life insurance. However, the policies used for the Bank On Yourself strategy are dramatically different in three key ways from the kind of whole life insurance that Suze, Dave and others talk about. Here, I reveal these key differences and prove their validity by showing you examples of my own policy statements.
What’s more, my readers have alerted Suze and Dave. But sadly, both have chosen to ignore the facts I reveal below. I’m sure neither Suze nor Dave relish the idea of having to rewrite all their books and materials. But once YOU learn the critical key differences between Bank On Yourself policies and the ones Suze and Dave mention, I’m confident you’ll be asking the same question we hear Bank On Yourself policyholders mention repeatedly: “How come no one’s ever told me about this before!?”
Here are the three key differences:
Suze Orman & Dave Ramsey
Key Difference #1: These experts say the money you can have access to in the plan (your “cash value”) grows too slowly in a whole life policy, and say you typically won’t have any cash value at all in the first few years.
Suze Orman & Dave Ramsey
A Bank On Yourself-type policy, however, incorporates a special – and little-known – rider or option that turbo-charges the growth of your money in the policy so you have up to 40 times more cash value, especially in the early years of the policy. This allows you to use it as a powerful financial management tool from Day One.
Key Difference #2: Most financial experts, including Suze and Dave, talk about policies where your death benefit stays level for the life of the policy.
Please note that this statement is from a policy I started before I learned about Bank On Yourself, and it has grown much more slowly than a policy designed to maximize the power of the Bank On Yourself concept.
Key Difference #3: The financial experts often rant about how, when the policy owner dies, the insurance company “only” pays you the death benefit and keeps your cash value.
But with a Bank On Yourself policy it’s very different, as you can see on this policy statement. It shows you how, had I died on the date this statement was issued, my family would have received a check for more than the original death benefit AND the cash value in the policy… combined!
So I am throwing out the gauntlet to Suze, Dave or any expert who wants to challenge me. Just name the time and place!”
And keep in mind that Bank On Yourself will beat anyone’s best financial strategy or we’ll pay you $100,000!
No two policies are alike, because each one is tailored to the client’s unique situation. So your results will be different. To find out what your bottom-line numbers could be, and how much your financial picture could improve if you added Bank On Yourself to your financial plan, request a free Bank On Yourself Analysis. There’s no obligation. REQUEST YOUR FREE ANALYSIS!
Update! Our hidden video camera captured Suze Orman and Dave Ramsey discussing Bank On Yourself…
If Bank On Yourself is so good, why isn’t everyone already doing it?
If you browse the personal finance section of any bookstore, turn on the TV or open a magazine on finance, you’ll discover that 99 out of 100 financial “gurus” will insist that whole life insurance is a lousy place to put your money. Most will recommend you buy term life insurance instead and invest the difference in mutual funds.
The major stock market indexes have fallen to levels not seen for 12 years – since 1997.
Of course, inflation during that period has reduced the value of your dollars by at least 36%.
The reality is that most Americans have been digging themselves deeper into a financial hole every year, with no way of knowing how long it will take to crawl out.
The statistic comes from the respected research firm, Dalbar, Inc., in its 15th annual study of mutual fund investor behavior. The study measures the returns investors actually get, not the returns they wished they got.
