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Your own private family bank
Old 07-17-2018, 07:52 AM   #1
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Your own private family bank

Hi,

I jsut watched this video:

Sound interesting. Has anyone tried to do something like that?
Im also interested if those insurance contracts are as safe as he claims them to be?

Any thoughts?
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Old 07-17-2018, 03:04 PM   #2
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Can we get a bullsh!t emoticon? Or a troll emoticon?
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Old 07-17-2018, 03:18 PM   #3
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14 seconds in and he mentions the Rothschild family. Oh, thatís my family tree, although we are from the branch that lived as peasants in Europe and came here for a better life.

Iíll have to watch this at some point but for now Iíll just spend less than our income and maintain our debt free status. Works for me.
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Old 07-17-2018, 03:22 PM   #4
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+1 on troll / sales pitch.
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Old 07-17-2018, 04:06 PM   #5
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Quote:
Originally Posted by henny-penny View Post
Hi,

Sound interesting. Has anyone tried to do something like that?
Im also interested if those insurance contracts are as safe as he claims them to be?

Any thoughts?
In what part of Norway do you live?
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Old 07-17-2018, 04:20 PM   #6
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Quote:
Originally Posted by henny-penny View Post
Hi,

I jsut watched this video:

Sound interesting. Has anyone tried to do something like that?
Im also interested if those insurance contracts are as safe as he claims them to be?

Any thoughts?
Yes, I think you're trolling.
But I do have a simple family bank, and it's working well.
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Old 07-17-2018, 04:23 PM   #7
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I watched about the first 20 seconds and found the guy's voice annoying and non-confident. (It's ok to be non-confident.... but it doesn't help sell in a presentation.)

I skipped forward to the 10 minute mark and more platitudes...

No way I could watch 35 minutes of this. Can someone summarize it, or provide a transcript.
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Old 07-17-2018, 04:31 PM   #8
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I skipped forward to about the 30 minute mark. It's a variation of whole life insurance... something called the PFB Optimized Whole Life.

Don't think it will fly with many of the members here since many here pay cash and avoid interest payments... And mosts members here save a lot more than the example shown there, direct our own investments, and don't have the fee structures associated with a whole life policy.

Here's my reaction to the platitudes in the video...

If it sounds to good to be true.....
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Old 07-17-2018, 04:34 PM   #9
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Here's the website:
https://privatefamilybanking.com/partners/

As far as I can tell, it seems to be all about selling their training course and book.
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Old 07-17-2018, 04:36 PM   #10
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I didn't watch all the video, but it seems to be talking about using life insurance with very specific riders as a tool to build wealth.

InfiniteBanking.org
Nash is the man who came up with the process years ago.

Bank on Yourself is a book by Yellen that explains the concepts well.
I think Yellen is using the book to get clients to contact her so she can feed them to insurance brokers and get a lead commission from them. (So the book is really a lead generator.) But the concepts are clearly written.

The people I know who have successfully used this tool follow Nash - InfiniteBanking.org

The host of Radical Personal Finance has spoken on his podcast about this. He thinks the idea / tools can work for people looking at using it for over 20 years due to the upfront costs of the insurance. I think highly of the financial advice he gives on his podcasts so I think this adds weight to the validity of this tool. (My favorite podcasts are his Friday Q&A sessions. I learn from most of those.)

Some posters on BiggerPockets say they use this tool to help fund/manage real estate investments.

I've read the Yellen book and I'm investigating it for myself. One friend of mine is very financially savvy and has been using the Nash method for a few decades. He recommends it to me highly (and he has opportunity in getting a commission, lead fee, etc from me).

This is as far as I've gotten.
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Old 07-18-2018, 04:40 AM   #11
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Who isnt selling their ideas and knowledge these days?
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Old 07-18-2018, 04:42 AM   #12
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Originally Posted by Sue J View Post
14 seconds in and he mentions the Rothschild family. Oh, thatís my family tree, although we are from the branch that lived as peasants in Europe and came here for a better life.

Iíll have to watch this at some point but for now Iíll just spend less than our income and maintain our debt free status. Works for me.
He gets attention using this family name? Heavens know why. As far as I know many families have funds and thusts and other organizations to mange wealth.
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Old 07-18-2018, 04:43 AM   #13
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Can we get a bullsh!t emoticon? Or a troll emoticon?
No Im not.
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Old 07-18-2018, 04:45 AM   #14
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Yes, I think you're trolling.
But I do have a simple family bank, and it's working well.
Im interestined in knowing how it works and weather this idea is worth digging deeper. Maybe you could share your experience instead of insulting?
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Old 07-18-2018, 04:46 AM   #15
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In what part of Norway do you live?
South, why?
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Old 07-18-2018, 04:47 AM   #16
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Originally Posted by gretah View Post
I didn't watch all the video, but it seems to be talking about using life insurance with very specific riders as a tool to build wealth.

InfiniteBanking.org
Nash is the man who came up with the process years ago.

Bank on Yourself is a book by Yellen that explains the concepts well.
I think Yellen is using the book to get clients to contact her so she can feed them to insurance brokers and get a lead commission from them. (So the book is really a lead generator.) But the concepts are clearly written.

The people I know who have successfully used this tool follow Nash - InfiniteBanking.org

The host of Radical Personal Finance has spoken on his podcast about this. He thinks the idea / tools can work for people looking at using it for over 20 years due to the upfront costs of the insurance. I think highly of the financial advice he gives on his podcasts so I think this adds weight to the validity of this tool. (My favorite podcasts are his Friday Q&A sessions. I learn from most of those.)

Some posters on BiggerPockets say they use this tool to help fund/manage real estate investments.

I've read the Yellen book and I'm investigating it for myself. One friend of mine is very financially savvy and has been using the Nash method for a few decades. He recommends it to me highly (and he has opportunity in getting a commission, lead fee, etc from me).

This is as far as I've gotten.
The most invormative answer. Thank you.
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Old 07-18-2018, 04:47 AM   #17
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I went to an "Infinite Banking" lunch seminar about 5-10 years ago. It was a pitch to push life insurance policies as an investment. What really galled me in their numeric examples was interest calculations in mutual fund examples calculated with simple interest, not compound interest.

Nothing to see here.

-gauss
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Old 07-18-2018, 04:57 AM   #18
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I went to an "Infinite Banking" lunch seminar about 5-10 years ago. It was a pitch to push life insurance policies as an investment. What really galled me in their numeric examples was interest calculations in mutual fund examples calculated with simple interest, not compound interest.

Nothing to see here.

-gauss
Yes, I saw that! They obviously leared some different mathematics than I did at school. Life insurance policies could be an idea woth exploring on your own. Anyways, it is good to make your own opinion.
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Old 07-19-2018, 04:09 AM   #19
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Im interestined in knowing how it works and weather this idea is worth digging deeper. Maybe you could share your experience instead of insulting?
Valuables: The Family Bank ‚€“ A ‚€œSound‚€Ě Idea -
THE FAMILY BANK Educating & Inspiring Multi-Generational Family Members through a Shared Investment Structure | Pitcairn
The Family Bank: A Strategy for Preserving Wealth
When I get time, will go back and read these articles again.

Your original post looked very much like a troll. There was a link to video, and the thoughts you posted were very much "troll-like".

FYI, I have a thread "Inter Generational Family Wealth". It explains my meandering thought process as I solved a few challenges we had with accumulated stock.
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Old 07-19-2018, 06:26 AM   #20
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Valuables: The Family Bank ‚Äď A ‚ÄúSound‚ÄĚ Idea -
THE FAMILY BANK Educating & Inspiring Multi-Generational Family Members through a Shared Investment Structure | Pitcairn
The Family Bank: A Strategy for Preserving Wealth
When I get time, will go back and read these articles again.

Your original post looked very much like a troll. There was a link to video, and the thoughts you posted were very much "troll-like".

FYI, I have a thread "Inter Generational Family Wealth". It explains my meandering thought process as I solved a few challenges we had with accumulated stock.
Thank you target2019. I will do some reading this weekend.
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