Monday, January 24, 2011

11 Reason's to Consider Whole Life for Retirement Vehicle

Continuing on my Infinite Banking theme as of late, I wanted to give a more complete benefits list why to choose a Participating Whole Life policy rather that the meager 401k or mutual fund.  The benefits seem to keep adding up as 401k's are going the route of the dinosaur.

1.  It builds liquid cash reserve of safe money.  Generally, it can be accessed within 5-10 business days.
2.  Cash Value Life Insurance guarantees your investment principle.
3.  You can put as much money as you want -- limited only by the size of the whole life policy -- which you can make as large as you need.  Not so with qualified plans.
4.  All of the money you put into the cash value life insurance policy builds tax deferred.  You avoid paying income taxes every year, so your money grows faster.
5.  You can borrow the money from the policy tax free, without having to qualify for the loan and without contractual withdrawal penalties.
6.  There are no early withdrawal penalties from the federal government.  Not so with qualified plans or annuities.
7.  Loans against the policy come from the general assets of the insurance company, and not from the policy cash value!  In many cases, you can actually earn more on your money than the loan is costing you.
8.  The policy is self-completing, because you have a disability waiver of premium rider that will continue to put the money in for you if you ever become disabled.  Only life insurance offers this unique benefit.
9.  Life insurance provides a death benefit that gives your family the money you intended to save in the event you can't be there.
10.  In most states, life insurance is not attachable by creditors.
11.  Life insurance cash values don't count as an asset when applying for college financial aid.

Friday, January 21, 2011

Retiring the 401k; Now What?

So this video was posted a while ago (I think over a year ago), but it reinforces what I have said about the myth that 401k's are the norm.  When planning for retirement one should not rely heavily on this type of strategy.  The idea is to find a vehicle that can save as well as invest while exposing it to risks or taxes.  

One such idea is the Infinite Banking Strategy.  Why not take the time to learn more about this and ask me how it works.  This idea is really worth looking into.  You know that bright idea moment, yeah its happening now. 

I can show you how to implement this system. Contact me for more info.

Posted via email from bnice's posterous

Thursday, January 20, 2011

Microsoft VP creates perfume that smells like money - Holy Kaw

Take a big whiff of that crunched-up dollar bill sitting in your pocket. To you, it probably smells like fecal remnants, the sweat of a stripper, and pocket lint, but to Microsoft vice president of sales Patrick McCarthy, it smells like success.

McCarthy used his downtime away from the Microsoft offices to create his-and-her fragrances that smell like cash fresh out of the ATM. The Chicago-based businessman says he came up with the million-dollar (or couple thousand dollar) idea after reading about a Japanese study that found the smell of money made workers more productive.

Wondering what money smells like exactly? According to a press release, the men’s scent, His Money Cologne, fuses “the woody aroma of newly printed money with a bold fusion of fresh ocean breezes, and bright citrus notes joined by rosemary, grass, and precious woods.”

Not to be outdone, the ladies’ version boasts “the clean scent of freshly minted bills. Vibrant pink grapefruit and mandarin give it a citrus kick that’s enhanced by freesia, passionfruit, Hawaiian wedding flower and a soft hint of melon.”

Each bottle of Money will set you back $35. The cheaper option? Rub a Washington on your face, or a Lincoln, if you’re fancy.

Full story at AOL News.

Oodles of oddities.

I guess you really gotta love money for this one

Posted via email from bnice's posterous

Wednesday, January 19, 2011

Census Results

A new report identifies 6 demographic shifts happening in the US.

1.  South-shifting population: More than half of the nation’s population growth during the past decade (51.4 percent) occurred in Southern states, driven in part by an in-migration of an estimated 2.3 million newcomers from nearly all demographic groups – blacks, Hispanics, the elderly and the foreign born – and high fertility rates among some, particularly Hispanics.

2.  More grandparent-headed households: The number of children living in grandparent-headed households increased by 26.1 percent between 2001 and 2010, compared to 3.8 percent for all U.S. household types. One or both parents also live in about two-thirds of the grandparent-headed households.

Read the full story here...

Monday, January 17, 2011

What is Infinite Banking?

Hi there everyone. Recently I've had a lot of folks asking about The Infinite Banking System and what it is and how it works. Your Banking System is an idea that champions the saving and investment theory. Throughout our financial education we are programmed to think why certain vehicles are the smart for these objectives. Well in this post, I will give you the brief overview of the program and try to dissect it from a newbie's perspective.

To start, let's take the typical retirement plan and focus on what its intent is.  A 401k or mutual fund is designed to save money and let it grow, or so we are accustomed to believing.  When you deposit money into this fund, you expect it to grow at rate of about 6-12% and when you retire, hope that it will have grown enough to provide for yourself a nice nest egg to live on.  There are 3 problems with this:

1.  Taxes- Most retirement accounts tax 1 of 2 ways.  At the time of deposit or at the time of withdrawal.  Either way it is taxed.

2.  Access- Once the money is deposited, there is limited access to that cash i.e. rollovers, money down for home purchase, medical emergencies etc.  If it is withdrawn and doesn't qualify it could come with a penalty.

3.  Risk- These funds are subject to the market and contrary to what some would like to think, it goes down as often as it goes up.

These are three very real issues and The Infinite Banking System solves them all.

Permanent Whole Life Insurance
Let me introduce a very old product that has been around for over 100 years that few know much about but has many great features. One feature is that the policy holder is the sole owner of the policy.  This means that first priority is given to the owner before the insurance company, the government or even the insured.

Example: (True example) I am the owner of a policy that insures my wife.  I pay the premiums and in the unfortunate event that she passes away, the beneficiary (me) and contingent beneficiary (my daughter) will receive the death benefit. I also have dibs on all cash values.

A Whole Life Insurance policy is a contract that no government can touch and no insurance company can void.

Let's look at how whole life insurance can avoid the 3 problems I mentioned earlier.

1.  Taxes- The government cannot tax earnings from cash values and dividends paid on whole life policies unless they are considered MEC (Modified Endowment Contracts).  There are certain situations where whole life insurance will become a MEC and you should speak with a agent who is well trained before this happens.

2.  Access- You may access your cash value in your policy at any time with no penalties throughout the life of the policy.  Unlike 401k's.

3.  Risk- The company I write policies through performs around 5% returns every year and has paid dividends every year since there existence beginning in 1904.  When you reinvest the dividends it performs even better.

*This is why Whole Life is a better option than 401k's and mutual funds and we haven't even started on the Infinite Banking part yet.

Where does the Banking part come in?
You must have an entrusted agent to make sure your Whole Life policy is set up correctly and when you do at least 55% of every dollar paid in premiums should be available to you through cash values.  So if you pay $300 in premiums $165 is available for you to take out.

Now this is where you have to treat your policy like a bank and not an insurance policy.  Take the $165 out, but Pay It Back!

When you go to a bank to borrow money, they make money by charging you interest.  Wouldn't it make sense to charge yourself the interest instead of giving it to the bank?

The policy performs so much better not only when you pay yourself back the loan, but its golden when paid back with interest!  I don't have the illustrations to show you but there is a wealth of info at  Nelson Nash is the creator of this process and his book details all of the illustrations there.

Just think of all the things you finance throughout your life; cars, houses, boats, clothes, vacations, gifts and the list goes on and on.  An average American spends 34.5 % of their income in interest through their life. This process if funded and set up correctly could even one day finance your house.  And you know how much interest you spend on a mortgage (nearly the same amount as the actual price of the house!)

Well there you have it. I wanted to give you the basic rundown of what Infinite Banking is.  When you see the benefits of whole life over mutual funds coupled with The Infinite Banking System, this process can change your entire family tree by showing your loved ones how to save and invest properly. It's not only an insurance policy, but a total new approach to saving and investing.

Contact me to get more info on how to start your own Infinite Banking System!
Ask me for free a copy of Nelson Nash's book, "Becoming Your Own Banker".

Friday, January 7, 2011

Why I Sell Health Insurance

I first became an entrepreneur in 2003.  I answered an ad in the paper for a job that I thought was a regular 40 hours a week, benefits, and vacation.  Little did I know that was in for a ride of a life.  That company turned out to be a direct marketing firm for health products and I soon began my journey into the realm of the unknown.

I left Charleston and traveled with this company (which shall remain nameless) for 2 years to places like Savannah, Jacksonville, Daytona, Tampa and Oklahoma City.  It was truly an incredible time in my life.  My income never caught up with my hopes but the lessons in sales, marketing and insight into my own determination and capitalism shed new light into my dreams.

I returned to Charleston, in need of a new opportunity but filled with optimism and hope.  The door opened for a career in Real Estate.  Little had I known that this was a flourishing industry with many types of motivations and personalities.  I never understood wearing shorts to the office LOL!  My ingenuity thrived and my paychecks swelled as my true heart for helping my friends and acquaintances realize their dream of home ownership.  But the market didn't boom forever and I soon found myself with many a client, but no one to lend him money or to buy his house.

Nevertheless my heart yearned to help people in a manner that called for professionalism and wisdom. You guessed it, back to the want ads and here I find myself cramming for of all things a health and life insurance license.  The firm that recruited me really cracked the whip and I must say that my motivation was at the brink.  My director pushed the envelope to the point that I didn't feel I was helping folks, but rather, encouraging them to help me.

So here I find myself.  I never sought the Alpine Agency for employment but instead for insurance for my newborn daughter.  I guess it worked out though.  I am delightfully busy and couldn't ask for a better and more convenient brokerage.

Here my attributes shine and talents are unleashed and every person that I have had the privilege to meet truly makes me a better person and agent.  I've found a new product or two, and industry, but the service and professional relations are true.

I guess what it boils down to is, if you really want to succeed, you have to help someone in need.  Catchy huh, I just made that up, but it fits.

Monday, January 3, 2011


I have to say that tossing the frisbee is one of my favorite recreational activities.  I used to be an Ultimate Frisbee fanatic.  I would play sometimes 5 times a week.  Since I have started a family though, it has been hard to find the time.  Not to mention that running like that will take its toll on a body.

Glory Days

Tossing the frisbee with family and friends over the holiday's sure brought back memories.  I can still hold my own.

I have recently found a website dedicated to those who love this pastime as much as I do.  It is

You can get ultimate frisbee's, disc golf gear and many more accessories.  Check it out.