What To Do After Funding A High Cash Value Life Insurance Policy?
You might be wondering what the next steps after starting an IBC policy or aka high cash value life insurance policy.
If so, pay attention to this email! ⚠️
I share other necessary tools you need to have to ensure your legacy, values, ethics, lifestyle, and all of the above gets passed on properly to the next generation.
Did you know that the average lottery winner goes broke within the first 3-5 years declaring bankruptcy? That is insane! I would rather just stay middle class and build my money rather than having a lot in one shot not knowing what to do with it and lose it all. Not only lose it all, but declare bankruptcy! I don't mean the way Mr. Trump leverages bankruptcy -- I'm talking actually bankruptcy (the bad version) where you don't bounce back.
According to Google, 78% of NFL 🏈 players go broke, bankrupt, or are under financial stress within 2 years of retirement? Likewise, 60% of NBA 🏀 players are broke within the first 5 years of leaving the sport?
Why am I sharing this to you?
I share this with you to say that it truly does not matter how much money you make, rather it's how you use the money and what you keep is more important.
Now in this community I know we are all learning and becoming aware of our money and where every dollar goes. What I want to discuss in this email is how we protect our money while we make it. Whether you have a policy in place or not, some of the most important tools to perpetuate your wealth long term is in the area of protection. Life insurance protects our income in the event we die. When we die we want to make sure that the next generation does not experience a lottery event where mom and dad left the kids 1 or 2 million dollars and we didn't teach them the financial strategies you learned to accumulate the wealth you have. With that being said I have some tools I have been using to ensure my wealth does not run dry while I'm living and eventually when I pass away.
For the will, trust, legal and identity protection I use LegalShield. I have been a customer for 5 years now and I love the service and affordable pricing overall. You can click any of the bold texts in this email to check out the resources or helpful content that will explain more about these tools I am building for myself.
In regards to the Family Constitution and Building A Team I recommend checking out Garrett Gunderson he really offers a lot of free value on youtube that will breakdown the importance of building a financial team around you and establishing a constitution in your household to perpetuate wealth. He also has great programs and resources as well.
I encourage you to do more research so you can build a strategy around acquiring these tools and potentially leveraging your policy to do so when you are ready.
Personally, I use my cash value life insurance policy to pay for my will, trust, legal and identity protection, and much more at this point in my life. In addition to paying for additional layers of protection I am also leveraging the policy to make investment to allow compound interest to place in two locations with the same money.
I hope this email brings value to you and peaked your interest enough to continue to take action wherever you are at on your financial freedom journey.
God Bless and talk soon,
