Walt Disney, JCPenney, and Ray Kroc.
What do all these ultra-wealthy individuals have in common? They all possess, “The Secret of the Affluent”, as coined by the New York Times. In layman’s terms, they all got ahead in life, not by spending their own money, or taking out a loan, but…
By borrowing against their whole life insurance policy!
So, why do the ultra-wealthy leverage whole life insurance policies?
- Deposit amounts are unlimited (and NO income limitations)
- No tax on the growth of your account
- No tax when accessed either (if structured correctly)
- Any money left over for your children and grandchildren can NOT be taxed by the money hungry federal government.
Sounds pretty good, right?
Well, in today’s episode, I reveal a few more tricks the ultra-wealthy do to amass true wealth, while paying as little in tax as possible.
Show Highlights Include:
- The counterintuitive way to earn an extra $2,000 by spending $3,000 (1:11)
- Bank won’t provide a loan to start your business? Use the “Walt Disney” source of finance to kickstart your entrepreneurial journey (2:12)
- How Ray Kroc, the founder of McDonald’s, used “The Rich Man’s Roth” to create the McDonald's empire (3:51)
- Access your life savings — tax free — with Tony Robbins’ “Private Placement Life Insurance” (6:03)