Have you ever wondered how much life insurance, is too much life insurance? Well, here’s a secret. A life insurance company won’t insure you for more than you’re worth.
As you go through life, everything changes. The only thing certain in life is, in fact, change. So when you first get a job or you first start in business, your goal is to create 100% of your earned income to support your lifestyle. And as time goes by and you evolve towards retirement, your reliance on earned income will go down and you will transition to 100% of your lifestyle being funded by passive income. And as we’re evolving from 100% earned income to 100% passive income, there are various stages.
With inflation being a hot topic these days, a natural question may be, are my life insurance policy and my life insurance premiums inflation-proof? And how exactly are they impacted by inflation?
We’re often asked how to implement multiple policies using these specially designed life insurance policies designed for cash accumulation. When we talk about being in control of your cash, or being in control of your money, or being in control of your life. One of the main tools we use is the infinite banking concept.
Sometimes money concepts could feel complex, especially compound interest versus simple interest, and how they impact your life insurance policies. Interest is a very complex topic, the further you dig into it, the more complex it gets.
When setting up a life insurance policy designed for cash accumulation, a question that often comes up is, “Should I have my person own the policy or should I have my business on the policy?”
If you have an investment portfolio, chances are you’ve heard of a 60/40 split. 60% equities with 40% bonds and you’ll be safe. However, do you realize that the 60/40 split recently had the worst year ever because of the inverse relationship between interest rates and bond prices?
Have you ever wondered how people afford sending their children to college? Sometimes the first child is manageable, the second is tight. And by the third or fourth child, it’s downright impossible.
Everyone knows that interest rates are finally on the rise. But what you may not realize is what’s going on under the covers. What’s happening to the bond market as these interest rates rise? Do you realize that there’s an inverse relationship between interest rates and bond prices? Let’s take a deep dive on what this means for you.
The most recent word on the street is that student loan repayments are going to begin again in October of 2023. What does that mean if you’ve been spending that money instead of saving it or paying toward your student loans all along?