Whole Life Insurance: The Secret Tool of the Wealthy

I want to talk about Robert Kiyosaki, and how exciting it is that he has come out and endorsed Cash Value Life Insurance!! Now, you may not see the excitement – you may not understand why it’s so exciting yet (grins), but I promise you will! If you don’t know who Robert Kiyosaki is, he is an International Bestselling Author, he’s a real estate investor, he’s a business coach, and he’s personally mentored thousands of people to financial freedom throughout the world.

Kiyosaki has made a huge impact in my life personally – I’ve spent a little time with him, I’ve read his books, and his book Rich Dad Poor Dad made a profound impact at the beginning of my business career. One of the things that Robert (Kiyosaki) teaches is that if you want to be wealthy, you need to learn to think and act like the wealthy. Now I know if you’re into self-development, if you’re pushing yourself, if you’re an entrepreneur, you understand…you’ve heard that a thousand times…the question is… HOW?! So what I want to do with you right now is unpack FOUR of the THINGS I’VE LEARNED in talking with, studying and researching some of the most successful people throughout history, and in current economic times! #1: LEARN TO CREATE WEALTH, NOT EARN IT The first thing I want to share with you actually came from Robert Kiyosaki himself, and he simply said, if you want to create wealth, if you want to be wealthy I should say, YOU NEED TO LEARN how to CREATE WEALTH – NOT just go to work, punch a time clock, collect a paycheck, and get benefits.

Because the scary truth is that 92% of Americans right now who are following that system cannot maintain their standard of living when they retire! So I’m going to ask you a question: when you retire, do you want to take a step backwards? Do you want to reduce your standard of living? Do you want to have to downsize your house? Do you want to not be able to take as many trips, not be able to travel across the country to see your grandkids…any of that? If the answer is “Yeah”, well then you can keep on doing what you’re doing. If the answer is, “NO, I want more than that!” then you really need to think about the results that most of the people who are following contemporary financial strategies are getting. Wealthy people understand this, and that’s why they don’t do it that way. #2: ONLY INVEST IN WHAT YOU KNOW The second thing that I’ve learned was something that I actually learned from Warren Buffet, i think was the first time I heard it. He (Warren Buffet) said “You should never invest in anything you don’t understand”. Actually more importantly, he said you should ONLY invest in things that you KNOW! I’m going to ask you a question right now: How much do you understand about your 401k? How much do you understand about the mutual funds that your money is sitting in? How much do you understand about PE Ratios for the stocks that you have?….any of that stuff? If that answer is “not much”, I’m going challenge you right now, that the next time we have a financial correction and you LOSE half the value in your account….

It’s YOUR FAULT – NOT your financial advisor’s! I’ll tell you right now- wealthy people understand that. That’s why they keep their money SAFE, they keep it protected, safeguarded, and then they ONLY put their money into things they UNDERSTAND, and when the time is right for THEM. #3: The Third thing I’ve learned is that you never want to tie up your money unnecessarily. And this goes back to another problem, with the retirement planning institution of this country and the system that everybody’s operating inside of. And it goes to the point that, you know what…How much sense does it make to put your money in an account that you don’t have access to for the next 30 years, when you may need access to that money for either a Rainy Day or an Opportunity in a couple years?! It doesn’t make much sense at ALL! But that’s what people are doing! Over 80% off the money being saved for retirement right now is going into these retirement accounts that are considered “Qualified Accounts”, meaning you can’t touch that money until you’re without paying penalty and taxes on it! Now, taxes: You’re gonna have to pay taxes on that money no matter what, but the reality is, taxes are going up, right?! At least I think they are – there’s certainly not much room to go down.

There’s a lot that goes into that, but the third thing I’ve learned is to Never Tie Up Your Money Unnecessarily. Wealthy people understand that, so they don’t put their money in accounts that they can’t touch for 30 years, when they may need that money for either emergency or opportunity for business, for real estate investment property, for whatever, for any kind of opportunity that comes their way, when they might need that money tomorrow. #4: CHOOSE THE RIGHT MONEY TOOL FOR THE JOB….AND IT MAY BE PROPERLY STRUCTURED WHOLE LIFE INSURANCE! The fourth thing I’ve learned, and this is the overriding principle: Wealthy people understand that Money is Simply a TOOL. They don’t become a slave to their money, money is a slave to them. Money is a tool for them.

Now, all the things I’ve said about 401k’s, stocks…. mutual funds, bonds, all that stuff – whatever- they’re JUST TOOLS! All financial products are simply TOOLS, and you need to start viewing financial products as tools. Not all tools are bad – you just need to make sure you have the right tool for the job. How much sense does it make to bring a saw when you need a hammer? Or to bring a drill when you need a saw? (smiles) Right?! It doesn’t make any sense at all. You just need to make sure you have the RIGHT TOOL for the JOB, for your situation. The reality is, Robert Kiyosaki understands that. The most successful, the wealthiest people in the world UNDERSTAND that money is this tool. ONE OF THE MOST UNRECOGNIZED FINANCIAL TOOLS IN THE WORLD: The reality is, a PROPERLY STRUCTURED Life Insurance Contract – more specifically, a properly structured WHOLE LIFE INSURANCE Contract, is the ONLY TOOL that will GUARANTEE: -what you want to happen, – will happen, – When you want it to happen, – whether you’re here to see it happen, – or not.

Now that sounds like a bold statement I know, but the reality is, it’s true. It’s absolutely true, and there’s a reason that these people are using this (properly structured whole life insurance contracts). And…there’s a reason why YOU DON’T KNOW ABOUT IT. That reason is, you know what, people in the financial industry either A) Don’t know about it, or B) Don’t want YOU to know about it Because if you did (know about them), all your money wouldn’t be going into all these other funds, and…. they wouldn’t be able to make their annual commissions on your money being under their management. The wealthy understand this. The wealthy understand how to LEVERAGE their money. So what I want to do right now is walk you through and example of EXACTLY what I’m talking about. I’m going to show you an example RIGHT NOW of how a 40-Year old can take and leverage $100,000 that he’s got sitting in a money market account at a bank, earning 1/10% interest – literally losing purchasing power every year, because remember, if inflation is going up by more than you’re earning, you’re losing money, because that money will buy less and less and less for you on an annual basis.

So right now, let’s go through a 40 year old who has $100,000, and look at: WHAT ARE HIS OPTIONS TO DO WITH THAT MONEY? He can keep the money in that bank account and Go Broke Slowly…..that is an option. OR, he can invest it and take risk – risk losing a high percentage of it, and risk losing Access to that money. OR, he can take it and put it into a Properly Structured Whole Life Insurance Contract. What are the benefits he gets for that? Well, – If he takes $100k, after 2 years, he’s gonna have Access to 94% of that money! Actually, in Year 1, when he puts the first deposit of $50k in, because we’re going to put that $100k into his account/contract in 2 payments/deposits, he’ll have access to 90% after 30 days of putting the first $50k in! He’ll have Liquidity of $45k, and then after the 2nd year, he’ll have access to $94k, so literally over a 2 year period, he only gives up 6% Liquidity (smiles)!! Yet, watch all the benefits he gets (and the wealthy people of this world understand this): – He gets a $1.25Million DEATH BENEFIT, meaning – we all have people – families, business partners – in our lives that we’re doing this for, right? – We want to leave the world better than when we found it.

I’m telling you right now, if something happens to you – tomorrow, the next day, whenever, if you’re a business owner or partner, you’re exposed , and your family are going to be hurting, right, unless you have a great succession plan with your business. This is the only way to guarantee that if something happens to you tomorrow, they’re protected. INSTANT WEALTH – created overnight. (clicks fingers) – On the flip side, if you live a long time, you still have access to the money to use for the business, to use as leverage to go where you want to go. – On top of that, you get a 4% GUARANTEED Rate of Return on the money you have left in the contract. 4 PERCENT!!! That’s 40 TIMES HIGHER THAN PEOPLE ARE GETTING IN the BANK RIGHT NOW! 40 Times Higher!!! – On top of that, you get DISABILITY COVERAGE.

If anything happens to you, disability coverage is simply Cash Flow Insurance. That’s it. Meaning, if anything happens to you and you can’t perform 2 of 6 activities of daily living, you will make sure that a majority of your income – a majority of the cash flow you have coming in right now – is covered, so you can: * keep your Dignity, * you can keep your Lifestyle, and * you can move forward, and * you’ll never put unnecessary stress on your family to take care of you. – We’re all gonna get older. (laughs) The reality is, 70% of people are going to need some sort of assisted living – assisted care – as we enter our aging, elderly years. LONG TERM CARE. What you can do with this (properly structured whole life insurance) contract is you can use some of the money in there if you get to that point in time and you haven’t had any catastrophe happen up to that point.

You’ll have access to this money to protect you in that environment. I’m telling you right now, these are MASSIVE, MASSIVE benefits that most people in the world DON’T understand how to use and how to leverage….but the wealthy people do. Reality is, this is how wealthy people think. They understand how to take money and use it as a tool, leverage it up and get where they want to go. They know how to keep Liquidity, Use, and Control of that money so they can have access to it in case of opportunity for their life. So they can have access to it in case they have an emergency in their life. So they’re not going to have pay penalty or taxes just to access their OWN money!! This money will grow on a tax-deferred basis and they can have access to this money TAX-FREE! There’s no better tool on the face of the earth that will do this for you.

Rich people understand it – as Robert Kiyosaki says, “That’s the Rich Dad Way.” This is something that every single entrepreneur in the world, every single person that wants to GUARANTEE that you can set a SYSTEM up where you can IMPROVE the status of – your life, – your family’s life, – your business’ life, and present yourself with: – more SECURITY in your life – more GUARANTEES in your money – more OPPORTUNITY as it presents itself as you go through your working career and entrepreneurial ventures (adventure, I’ll call it) , and it puts you in a situation so you’ll have – more CONTROL over decisions, so you’ll never beholden to anyone telling you what you can or can’t do in your life.

So, like I said, just to recap, you’re gonna have more security, more guarantees, more opportunity, and more control with your money. Isn’t THAT what you’re looking for? I’m telling you, a properly structured whole life insurance contract is the ONLY way to get there. I don’t care what anyone tells you… those are the facts. The math backs it up. Anybody who wants to tell you otherwise is crazy. I hope this information was helpful.There has never been a time more important than right now with what’s coming down the pipeline to gain hold, gain control, grab a foothold of your financial position.

Make sure you are structured properly….because in the next financial downturn, you’ll either be really STRESSED, OR you’re going to be able to THRIVE and create a LOT of opportunity and a LOT of wealth for you and your family and your business. So I encourage you, take the steps. Subscribe to all of my social media outlets, our YouTube page, follow us on Facebook, follow me on Periscope, and I look forward to seeing you guys there! I hope to be able to connect with you on a personal basis.

Please reach out if you have any questions. Until next time, Live abundantly, live efficiently, live LIFE180. ~ Chris Kirkpatrick “The Safe-Bet Money Guy” Founder/CEO LIFE180 Financial Group: Leading Into Financial Excellence www.LIFE180.com Former Top100 International Poker Player Leading Financial Security Expert, Speaker, Coach www.YouTube.com – Subscribe to me! www.facebook.com/life180llc www.twitter.com/safebetmoneyguy periscope: @Chris_Kirkpatrick. Life Insurance.