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[AChartist]

I found a pretty good discussion on the whole life for private banking and learned a few things. I already used one small policy loan, payed off unexpected and unplannedcredit card accumulations saving big interest, paid 1/2 the policy loan with 1/2 the loanto be completed over a few more monthly automatic withdrawals, plus paying small5% simple interest to myself. It will be huge when the first car is paid in Feb stopping $90 a month auto loan interestwaste and using that flow productively into new income asset purchases ( another policy and annuity ), then the 2nd car later next yeardoubling the results, then it will be on it's way. The new information I saw is that 20% of 1st year premiums goes to agent and mutual companyprofits which is ok because you are the shareholder of the mutual, that goes to you,and then it is 2% of premiums each year after. The agents only get a one time referal fee coming out of the first year 20%. While FDIC is flat broke, approx $15T of mafiabank deposits, are vapor,the mutual companies are required to hold 3x policy face values in reserve,and have backup reinsurance, and some mutual companies keep 6x in reserve,and most of their invested assets are 75-80% liquid. But only do the private mutuals, where public companies like AIG areinvolved with washington-wallstreet frauds, derivatives, mortgage and tuition debt. Now my agent does not recommend another policy and wants me to build liquid cashin the mattress first, by next year I need a 3rd policy with the new cash flow freed up after a carnote and interest waste is stopped. Depending on age it is best to get a policy when you can because health and rating could get worse. These are the major advantages exempt from litigation ( details dependent on state ) tax free withdrawal of cash ( you do pay tax on withdrawal of dividends so never withdraw dividends and passthis on with death benefit, only withdraw basis and paid up additions cash ) guaranteed return of capital premiums paid back as cash value at about 7.5 years, making the death benefit free from there guaranteed minimum dividends 2-3% typical dividends 4-5% tax free become self sufficient where dividends can make the remaining years of premiums not requiring new income to cover premiums 99% of term policies and 85% of cash value universal policies never pay a death benefit, waste. the people who fail in whole life are the ones that don't know to fund paid up additions cash rider (PUA) my agent toldme that 90% of poliices don't have PUA and my observation is that most agents dont even know what it does anddon't sell it. I am probably not going to do a mortgage ( renting dirt with rotting wood on it with property tax waste) from mafiabank.I will probably have to keep doing 401k then with company match because I only have standard tax deduction. Except I do a have strategy to use 401k withdrawal by way of primary home purchase, to get money out of mafiabank, which I could turn into rental property after living in it for one year and which have to be cheap equivalent to rent. Eventually I'll want to use my policy cash to buy a retirement property in a free, property tax free, allodial title, jurisdiction. This discussion was tearing up entertainers Suzy Orman and Dave Ramsey, both hate whole life. They would be liable for damages if they were qualified registered financial advisors. above for entertainment only