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The Smart Way To Buy Cars (Bank on Yourself) (Infinite Banking)

Stephen Gardner (Taming Wall Street) 68 views

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This is like putting money into a brokerage account and taking a margin loan on it, but with less earning potential
Comment from : @panickattack

Insurance companies are as evil as banks
Comment from : @sjupicudacuda898

We need these videos back along with the news too !!!!!
Comment from : @Richardson_Mg

🎉🎉🎉wow this is great information Thanks!!
Comment from : @jaddekastrie3071

I thought of doing that , also if you work for a city job and are investing in a deferred compensation account (retirement) and take loan out you will be paying back on your loan as the same time earning interest Rather get a bank loan u will never see it plus interest
Comment from : @EdwardGomez-u8e

Can i do this as a 18 year old?
Comment from : @user-zb2pt9qu2g

These numbers seemed going benefits from the smart way life insurance But how long and how much per month of the premiums, to accumulate the $30k?brSome people it due to health issues , Don't even can't get life insurance or rated
Comment from : @MrWanenglee

How do I open one of those type of accounts
Comment from : @frankiejones7858

Is it possible in Canada?
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Comment from : @FarrisKhanhBang

Do you save to have 30k in the policy or can you do it with less money? Also, will you recommend the best company to buy the policy from? TOA
Comment from : @ValentinaHutson

What kind of account is it??
Comment from : @carringtongraces

Ok so all this is, is buying a car with your own money (cash) through a method that forces you to pay yourself (save) back
Comment from : @theunbreakable1587

I do not understand, insurance company will give us 30000$ to buy the car, than we will pay insurance every month 424$ and in the end of 7 years we have money plus car???
Comment from : @mikilimitedchannel14

If life insurance can be used as a line of credit, why don't life insurance companies advertise this aggressively?
Comment from : @zachariahsmith7495

Thanks
Comment from : @DanielaMccaffrey

No car in existance depreciates that much
Comment from : @1mijaz

Run away! this is a scammer
Comment from : @1mijaz

You can barrow against your 401k but only your contribution, not your employers contributionbrYou pay yourself back with interest as well
Comment from : @michaelmccotter4293

You can barrow from your 401k but only the money you paid into it, not your employers contribution
Comment from : @michaelmccotter4293

The smart waydoes my money need to be in the bank or againt it??
Comment from : @tanniabinihi5609

How is buying a car in cash terrible?
Comment from : @Stop-ch3br

I noped the fcuk out of this video as soon as I heard " a client of mine cash value insurance"
Comment from : @satthiru8133

Can u do this with active military life insurance ?
Comment from : @nichole110

So basically pay for the car upfront
Comment from : @problemslayer3538

Cash value insurance is a scam
Comment from : @mmc0425a

4:20
Comment from : @Johnny_Doe

But I need my car now not in 7 years
Comment from : @ivanoheperdigondeleon393

In paying self are you borrowing 30k and losing 5,616 in interest or are you saving up to 30k and somehow gaining 499 interest? Numbers don’t add up
Comment from : @patient0x

i think ;you need to go back to elementary school to understand basic math so you pay from one pocket to another pocket but that other pocket needs to pay the car dealership So the only thing that you can win (if you don't have the 30 k at hand) si the discrepancy on interest rates from one place to the other if you do have the 30K already you can certainly invest that and get a 10 return on investment vs the 5 for the car loan interest
Comment from : @patoguaj

Sorry you don't explain in simple way to a lay man
Comment from : @jacksonnjagi7781

Is this possible out of a Robinhood account?
Comment from : @Arsenal125Foward

I ran this by my investment advisors, and it won’t work for me at age 80
Comment from : @chrissereque8716

I've done it with a cash deposit account an payed no interest but got interest
Comment from : @nativebear3513

Wow 🤯 mindblowiing Thank you! But, that means you have to have the €35k already saved in your life insurance plan, right?…
Comment from : @Elegan_te

No I don't agree with this idea at allbrJust don't waste money on depreciating assets brCash value life insurance policies in my opinion are a very bad investment You don't really need life insurance if you're a millionaire and that money would be better off investedbrBuying cars like this must be for people way smarter than me because I'm only saying a good way to lose money by paying for an overpriced life insurance plan You shouldn't be buying life insurance forever you should only need for as long as you have someone depending on your income for survival
Comment from : @AutoWolf333

Lies I have access to my 401k money but instead of withdrawing it I just take out loans and by myself back plus interest🤷🏾‍♂️
Comment from : @ThEwAvE000

Wow this is amazing thank you
Comment from : @LitungiMwalye

If I own the car, how would I transfer ownership to my policy?, and get insurance for it within the policy?
Comment from : @eastwick3237

but you have to have the money there first to be able to use it and the money wont be avalible for 3-5 years this sounds good but theres a catch you are better off getting term life insurance which has low monthly cost or putting your money in an index fund and letting it grow over the years This is a trap because really, we don't have all the information
Comment from : @teelittt695

How do I set up my own bank
Comment from : @maxxitolive

Can I do this formula against my own bank account instead of a life insurance account if so what the formula? Thanks love the topic
Comment from : @RealHeresVincent

This is a joke, at the end of the day you only recouped your 35k and the car is valued at 10k The only thing you saved is interest charges😂
Comment from : @abdirahmanismail1191

lol
Comment from : @brians4778

You totally wasted my time, dude
Comment from : @ayoubbilal26

How bout just share your secret without buying your book
Comment from : @david38oh

No one has but how do u be ur own bank you lend 30,000 from yourself confused on how this works seems you must first accumulate this money
Comment from : @tynneal0122

So you need to have the money saved up already to do this type of self loan?
Comment from : @LiveInTheNow247

I really don't understand how you get the car in the smartest way T_T at the end, someone help me ? lol
Comment from : @Stryk1x

Why did you move from financial videos to political videos?
Comment from : @DoctorMcFarlandStudios

I have been losing since 2020
Comment from : @joestaley4453

this video could be in 30s
Comment from : @nadeemal-mahry7254

I love this idea how do I get this account setup?
Comment from : @StrykerFX

I am so stressed
Comment from : @shoily2054

No an I really happy to see this
Comment from : @roberttrevino9111

So when you say have access to 45k what do you mean by that?
Comment from : @xdezirehdful

This really seems no different than a secured loan against your own money Only I don’t see how you are getting your own interest based off the comments I’ve been reading
Comment from : @jaredlutmer4401

This is a scam!brHe conveniently "forgot" to mention 6 very important things :br1 You need to have paid enough premiums to your insurance company to borrow the $30 000br2 The premiums include fees, so you have to pay more in premiums than $30 000br3 There's also a limit to how much you can borrow Usually it's 85 or 90 of the policy value at the time of the loanbr4 You have to pay interest to your insurance company to borrow iyour own money/i from your life insurancebr5 The "dividends", or what you wrongly call interest, that your mutual life insurance company pays to you is actually a partial refund of the fees you pay to put your money in an account In other words, you are the stockholder, so what ever dividend they make is out of your money that you pay them Therefore, they just give you back part of the money you paid, keep some of it as a "fee"br6 You still have to pay the car dealership $30 000 to buy the car, so that money is gone!brbrbrWhen you take all that into account and do the math properly, you end up with less money with the "infinite banking" or "be your own bank" scam!
Comment from : @nic12344

could someone explain this better ?
Comment from : @MrMaverickD

This is not an apples-to-apples comparison In Life insurance case A) You neglected the interest that gets paid to the Life Insurance company and B) you need to first have at least $30000 already sitting in you policy as cash value that you can borrow against So, you are essentially borrowing your own money It is like having a $30000 CD in the bank and using that CD as collateral and borrowing against that CD, If you do not pay back, bank will liquidate your CD and make themselves whole but as long as you make interest payments on the loan the CD will continue to accrue interest too because bank will liquidate it only in case of defaulting on the loan However, In first example of the bank on the left you are borrowing purely bank's money, so of course you have to pay it back with interest
Comment from : @deepakagrawal759

You forgot to mention that in the option on the left you’re not making monthly payments and the option on the right you are You can still do the left option and the monthly payments you would me making in the other option you just put it in your savings and after t years, you will still have that money
Comment from : @salg-1980

In a 401k retirement account you are able to borrow your own money, it’s not locked up The interest from taking the loan is paid directly to yourself into your own 401k account and the payments are taken from your paycheck
Comment from : @salg-1980

Is it a bad idea to borrow against your 401k or is the same concept of repaying yourself over time happening in this scenario?
Comment from : @derrick3181

this makes no sense at all it looks nice on your board and the idea sounds good but how does this actually work how do you become your own bank? instead of just saying whats possible to do why dont you explain how whats the actual process
Comment from : @papinbala

This guy is giving bad advice
Comment from : @matthewmatthews8388

mentor me please 🙏
Comment from : @clemongarner3651

Amazing video brBought one of his books after this Wish he would create Audible books of his other books since that's what I and many others prefer nowadays to save time
Comment from : @TheOcean777

I wish somebody would just straight up and tell you how to do it step-by-step instead of all this lingo That it's in his book So do I have to buy the book to find out
Comment from : @thomasavila35

What company do you use
Comment from : @mythicalghost1769

Help me
Comment from : @mythicalghost1769

This is the dumbest thing I've ever heard
Comment from : @LuisZunigaPRI

Grow your money every year? What about in year one? or year two? Or even year three?
Comment from : @LuisZunigaPRI

The only flaw is you have to have that lump sum in an insurance policy to use it
Comment from : @BibleSamurai

How do you get a properly built insurance policy
Comment from : @dbigyrlalwayscute7080

Never knew this, and yes, I will purchase my vehicles with this procedure
Comment from : @geraldfoster3514

The reason why people goto a bank is cos they dont have the money themselves to buy the car isnt it? 🤔I dont understand this
Comment from : @manuelfernando9729

How do I get the insurance to use? I just don't get it
Comment from : @catlover4331

Does not make sense to me If you don't have that money how do you pay the dealership?
Comment from : @catlover4331

Video is stupid only applies to lod people
Comment from : @matthewmesser231

This is the first I’m hearing about this and woah! Definitely need to know more
Comment from : @hunterwilliams25

You “the bank” still need to pay $30k to the dealership for the car
Comment from : @EncoreEntGrp

How to become your own bank ?
Comment from : @danielzincreations9882

At the end of the 5 years you have a $10,000 car and you still owe another 2 years of payments What happened to those payments?
Comment from : @JoesPlanetRepair