On 1st January, Jake Thompson published one of the best-selling books in the United States on “money, wealth, and life insurance. and how the wealthy use life insurance as a tax-free personal bank to supercharge their savings “.
Everyone is looking for a way to escape the rat race in life but it is never possible to escape. Reading books like the Rich Dad Poor Dad, Cash flow Quadrant and Other People’s Money (OPM) speaks some similarities with “Money. Wealth. Life Insurance.: How the Wealthy Use Life Insurance as a Tax-Free Personal Bank to Supercharge Their Savings ” by Jake Thompson.
True, the wealthy continue to amass fortune because they have the bait to catch a fish. The wealthiest in society calculate before spending in order to avoid debt, but it is a different game for low-income earners.
Expectations from Jake Thompson’s Book
Technically the book is meant to teach other means of risky investments taught by Wall Street. For generations, America’s elite has used cash-value life insurance to accumulate riches. When used appropriately, it is more comparable to a personal bank on steroids and a financial bunker for bad times.
The book describes a highly efficient type of cash-value life insurance that is meant to boost your savings and accumulate riches. A product is so effective that it has contributed to the success of Walt Disney, JC Penney, Ray Kroc, and thousands of others.
- How the affluent utilize this vehicle to accumulate greater money, reduce risk, and generate consistent income that they cannot outlast.
- Why do banks and companies invest billions in this strong vehicle?
- How I got more than 300 percent returns on my life insurance products
- How to establish a secure, predictable basis for every financial decision you make.
- How to beat taxes and keep more of your earnings
How do you use life insurance as an investment?
This book will educate you on how the world’s wealthiest people utilize permanent life insurance with investing alternatives to leverage their fortune while delaying certain taxes. Nonpayment of taxes is criminal. Citizens’ taxes are one way for the government to fund public initiatives. However, their spending causes you to pay more taxes than you should.
It is typical to hear that wealthy people get life insurance in order to transfer assets to their children or next of kin. Life insurance is purchased to offset inheritance taxes, as explained in Jake Thompson’s book on money, wealth, and life insurance.
Do banks use cash value life insurance?
Life insurance is an excellent asset in which banks may invest. These concerns are addressed in greater depth, including how to use the bank prudently and insurance to become affluent in life. All of these are addressed in the book.
Here is a list of questions that can be answered by reading this book. These are the questions that everyone appears to be asking and demanding.
- Does life insurance create generational wealth?
- How do rich people stay rich with life insurance?
- How do I avoid estate tax on life insurance?
- What is tax-free life insurance?
- How do you use life insurance as income?
- How do you use life insurance as an investment?
- How can I use my life insurance as a personal bank?
- How do I use life insurance as my own bank?
- Is Bank on yourself too good to be true?
- Can you cash out your whole life insurance policy?
- Can you use life insurance to buy a car?
- How do I start Infinite banking?
- What kind of life insurance does infinite bank use?
- Can you create your own bank?
- How can I make my own private bank?