Dynasty Wealth Partners on Nostr: In the book, Becoming Your Own Banker, Nelson Nash explains the 4 ways to purchase ...
In the book, Becoming Your Own Banker, Nelson Nash explains the 4 ways to purchase cars over your lifetime. He compares 2 twin sisters that both purchase the exact amount of cars for the exact price over 44 years.
There are 4 ways to have a car.
1. Lease
2. Bank finance
3. Pay cash
4. Byob method
The one sister saves up cash in bank CD'S and the other one purchases a whole life policy specifically designed for high cash value. The CD sister empties her account every 4 years and pays herself back the same amount as the premium of the whole life sister. Over their lifetime they do this... The whole life sister actually withdrawals from her policy which isn't the way we would recommend, but Nelson knew people didn't like the idea of loans... The best way would be for the whole life sister to take a collateralized loans against her cash value and then repay the loan...
At passive income time the two sister meet and compare vales. The CD sister had about $250,000 and never paid a dime in interest. The whole life sister had over $900,000 in cash value and $1.2 million in death benefit (the CD sister followed Dave Ramsey and chose to "self insure" meaning she didn't have any life insurance, probably hates her children and grandchildren) but I digress..
The CD sister takes $50k in retirement per year and is out of money in 5 years. The whole life sister takes $50k for retirement and her policy continues to grow over the rest of her life. She has a happy retirement and leaves a legacy for her children.
Some so called financial gurus hate whole life, but this simple comparison shows that as far as large purchases over a lifetime that whole life (becoming your own banker) is superior to all other forms of financing, well unless you consider theft... But only the government can legally do that.
Get the book, Becoming Your Own Banker and learn the truth about money... https://dynastywealthpartners.com/shop/
#ThinkDifferently #DynastyWealthPartners #InfiniteBanking #FinancialTailwind #generationalwealth #becomingyourownbanker #NelsonNash
There are 4 ways to have a car.
1. Lease
2. Bank finance
3. Pay cash
4. Byob method
The one sister saves up cash in bank CD'S and the other one purchases a whole life policy specifically designed for high cash value. The CD sister empties her account every 4 years and pays herself back the same amount as the premium of the whole life sister. Over their lifetime they do this... The whole life sister actually withdrawals from her policy which isn't the way we would recommend, but Nelson knew people didn't like the idea of loans... The best way would be for the whole life sister to take a collateralized loans against her cash value and then repay the loan...
At passive income time the two sister meet and compare vales. The CD sister had about $250,000 and never paid a dime in interest. The whole life sister had over $900,000 in cash value and $1.2 million in death benefit (the CD sister followed Dave Ramsey and chose to "self insure" meaning she didn't have any life insurance, probably hates her children and grandchildren) but I digress..
The CD sister takes $50k in retirement per year and is out of money in 5 years. The whole life sister takes $50k for retirement and her policy continues to grow over the rest of her life. She has a happy retirement and leaves a legacy for her children.
Some so called financial gurus hate whole life, but this simple comparison shows that as far as large purchases over a lifetime that whole life (becoming your own banker) is superior to all other forms of financing, well unless you consider theft... But only the government can legally do that.
Get the book, Becoming Your Own Banker and learn the truth about money... https://dynastywealthpartners.com/shop/
#ThinkDifferently #DynastyWealthPartners #InfiniteBanking #FinancialTailwind #generationalwealth #becomingyourownbanker #NelsonNash