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Join your host David Pere and Alex Felice in this episode with guest Will Duffy as he explains why he personally wouldn’t do any of the life insurance policies that are so commonly pitched to people today.
One thing should be known to anyone being sold a life insurance policy: most insurance agents we have today only sell for one company. And if your insurance agent works under one insurance company, for Will, that’s a conflict of interest to be aware of right there.
In this episode, Will talks about the two questions you need to ask when being pitched to a life insurance policy, why the infinite banking concept simply doesn’t work, and why the bank replacement strategy is better than any bank account.
About Will Duffy:
In the world of investing and finance, there are those who follow the crowd and those who know how to turn unconventional strategies into potentially winning hands. Will Duffy became a millionaire at age 33 by following the same contrarian wealth-building and tax-saving strategies he teaches his clients.
Not just a financial advisor, Will’s specialized excellence as a Chartered Financial Consultant (ChFC), Retirement Income Certified Professional (RICP), an Enrolled Agent (EA) lets him create customized, innovative financial plans or partner with a client’s current team of CPAs, advisors or attorneys.
The author of multiple financial books, and a go-to source for other financial professionals nationwide, The Duffy MethodTM is Will’s proven roadmap to help high net worth individuals, family offices, and businesses realize their financial goals.
Real Estate Investing 101: https://www.frommilitarytomillionaire.com/teachable-rei
Outline of the episode:
- [03:52] You can’t get too far researching tax planning without running across life insurance
- [05:52] Will Duffy – on most life insurance policies today
- [10:16] Dissecting the Infinite Banking Concept (IBC)
- [14:18] What is a captive agent?
- [17:03] The red flags with direct recognition policies
- [21:15] What is lost opportunity cost?
- [25:28] The Bank Replacement Strategy
- [30:01] About a family who wants to close an off-market multifamily property and do the bank replacement strategy
- [35:01] David Pere – on making $600 from a whole life insurance policy after five years
- [38:46] When someone’s pitching you life insurance…
Roths For The Rich: How to Fund Your Roth With Over $100,000 Each Year, Book by Will Duffy:
Compound Interest: 10 Financial Truths to Protect Your Wealth, Book by Will Duffy:
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My name is David Pere, I am an active duty Marine, and have realized that service members and the working class use the phrase “I don’t get paid enough” entirely too often. The reality is that most often our financial situation is self-inflicted. After having success with real estate investing, I started From Military to Millionaire to teach personal finance and real estate investing to service members and the working class. As a result, I have helped many of my readers increase their savings gap, and increase their chances of achieving financial freedom! – Click here to SUBSCRIBE: https://bit.ly/2Q3EvfE to the channel for more awesome videos!
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