Whole Life Insurance vs. A Traditional Savings Account

Jake and Gino Multifamily Investing Entrepreneurs

Jake & Gino

Buyingapartmentbuildings, Investingsmart, Multifamilyrealestateinvesting, Business, Smartinvesting, Jakeandgino, Apartmentinvesting, Investing, Commercialrealestateinvesting, Makingmoney, Buyingrealestate, Realestateinvestment, Wheelbarrowprofits, Realestateinvesting, Cashflow

5 • 831 Ratings

🗓️ 6 April 2022

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this special-episode, 100 Year’s Kristin Colca presents a case study on comparing saving money in a traditional savings account at the bank versus using a whole life insurance policy as a savings vehicle. Kristin highlights the key differences and explains how a 100 Year policy is a win-win for real estate investors. Key Takeaways: ✔ With a whole life insurance policy, you can borrow against 85-90% of its cash value within the first month. ✔ Your compounding isn't interrupted when you borrow against the cash value. ✔ Same dollars could work more efficiently when put into 100 Year Real Estate structured life Insurance policy as compared to those into savings account. ✔ The interest you earn from a savings account is taxable annually. Whereas, with whole life insurance, gains that are reinvested into the cash value of the policy do not generate a 1099. Plus, if structured correctly, you can borrow against your principal and gains income tax free. ✔ Additional advantages: death benefit protection and access to up to 75% of death benefit in case of chronic illness, terminal illness or a critical illness Ready to learn more? Take our Mini-Course on Whole Life here: https://100yearrei.com/whole-life-mini-course/ BONUS Resources: Download our eBook on how you can leverage on our Dual Asset Strategy and become your own source of financing: https://100yearrei.com/ebook-download/ NEXT Step: If you want to learn more on why should add a cash value Whole Life Insurance Policy to your financial plan (and even the plan for your children), get in touch with our Team here: https://100yearrei.com/callnow/ About The 100 Year Real Estate Investor The Whole Life Insurance Policies offered by the 100 Year Real Estate Investor are specially-designed. This means they work harder toward achieving your financial objectives, no matter what they may be. Check out this blog for 7 facts about our specially-designed strategies that may not be true about typical whole life policies: https://100yearrei.com/7-facts-about-specially-designed-whole-life-policies/ About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company that controls over $100,000,000 in assets under management. They have created the Jake & Gino community to teach others their three-step framework: Buy Right, Finance Right and Manage Right®, and to become multifamily entrepreneurs. #personalfianance #wealthbuilding #wholelifeinsurance #100yearrei Jake & Gino Facebook: https://www.facebook.com/jakeandgino/ Jake & Gino Twitter: https://twitter.com/JakeandGino Jake & Gino Linkedin: https://www.linkedin.com/company/jake-and-gino-llc/ Jake & Gino Instagram: https://www.instagram.com/jakeandgino/

Transcript

Click on a timestamp to play from that location

0:00.0	Hi, everyone. This is Kristen Kolka with the 100-year real estate investor. And today I wanted to
0:13.6	share with you a case study I did recently for one of my clients. This is a client that is a
0:19.7	seasoned real estate investor. She had been accumulating
0:23.6	some cash in a savings account to take advantage of an opportunity once it came along.
0:29.3	And she wanted to see, assuming that she used this money for a real estate opportunity,
0:36.2	would it make more sense to run that investment
0:39.7	through a 100-year real estate investor policy or to just withdraw the money from her
0:46.7	savings account and pay herself back? In addition to the money that she had saved,
0:51.7	which was $100,000, she also had the capacity to continue
0:56.1	to save $25,000 a year. So I said, why don't we put together some numbers and we can see
1:02.4	which way is more efficient for you. If you see on this screen here, the first spreadsheet that
1:08.5	we have up is the 100 year real estate investor policy. And so in terms of
1:14.2	the outlay or what she's contributing, year one, there's that $100,000 that she had already saved,
1:20.5	plus the $25,000 that she's able to continue to save on an ongoing basis. And from year two to year 20, which would be the last year that
1:30.8	she put money into this policy, she's continuing to put $25,000 a year in, just so she can
1:38.1	continue to save for additional opportunities as they come up. What did that $125,000 purchased in terms of death benefit coverage.
1:47.6	She has a death benefit of $3.1 million that first year, and she has a cash value of $110,000.
1:56.4	So those of you that are familiar with this strategy know that as far as the cash values concerned,
2:02.6	you're able to borrow between 85 and 90% of that cash value within the first month of starting
2:09.5	your policy.
2:10.4	The greatest advantage that you get from borrowing against your policy versus paying cash for an investment
2:17.2	or a big ticket item is that the insurance
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Jake & Gino, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Jake & Gino and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.