Chapter 10: The Final Treasure Chest and Conclusion

Episode 10 November 25, 2020 00:20:26
Chapter 10: The Final Treasure Chest and Conclusion
LifeTyme Financial Freedom Fighters
Chapter 10: The Final Treasure Chest and Conclusion

Hosted By

Vincent Del Franco

Show Notes

Thank you for joining Vincent as he took you through the adventure to find all the treasure chests and tools you can take with you to achieving your financial freedom! Enjoy his talk on the final treasure chest that you can put in your inventory of knowledge.

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Episode Transcript

Speaker 0 00:00:00 The views expressed on this program are not necessarily the views expressed by this platform. This content is for educational purposes only please consult a financial advisor or conduct your own due diligence prior to investing Vincent Del Franco is the owner and CEO of lifetime financial LLC and lifetime financial advisors. And is the investment advisor that furnishes this program for your consumption future performance of financial vehicles are not guaranteed. Speaker 1 00:00:26 <inaudible> Speaker 2 00:00:41 Welcome to the lifetime financial freedom fighters podcast. My name is Vincent Del Franco. I'm the founder and CEO of lifetime financial. We are there at the end. This is our final chapter, chapter 10, and we're to talk about lifetime accumulation strategy. In fact, this strategy here is useful in many, many different ways. Once you understand how to actually use it and make it work for you, this really gives you an idea of how you can utilize money in a more efficient fashion. Okay, well, we're going to talk about tonight is preventing losses is an important skill to master and that's the goal is to try to prevent and tighten up and be as efficient as you possibly can with your money. You want to achieve tax advantages with your funds. In other words, you want to start placing your money in tax advantage type situations so that when you do retire or when you do need some funds, it's available to you in a tax advantage type of way. Speaker 2 00:01:56 You also want to minimize any unnecessary losses. We mentioned that just a moment ago and you see the fundamental key is its accessibility to collateralization. We're going to talk about that. As we begin to wrap this presentation up tonight and collateralization leverages your ability to continue with uninterrupted compounding of interest on your money. See when you do all those types of things, what it does is it actually puts you in control of your money of your finances and the most important thing to remember. And you probably heard me say this throughout the podcasts, the row throughout the 10 podcasts, is that avoid, avoid the interrupting of compounding interest. Always allow your money to compound folks. I can't stress that enough. It's so important to not interrupt the compounding. All right, so let's go ahead and take a look at several vehicles and areas that you could put your money so that you can have some of the smartest accumulation. Speaker 2 00:03:11 Okay. Let's take a look at number one, 401ks. There are four advantages to 401ks. Well, we consider them advantages. Now, if they match you great, I put in up to the match. If you have a Roth, the Roth side of it, I would go ahead and fund a Roth. And I would allow the company that you work for. The match is actually going to go into the taxable side of it. That's advantage for the company. That's what they get to deduct and write off. All right? So let's take a look at 401ks as an example, in a 401k, you have what they call tax deferred growth. The next thing that's important is that you have, you know, 401ks come with some additional benefits, like I said, matching and so on. Speaker 2 00:04:05 You have collateralized opportunities with a 401k. In other words, if you needed to, you could always borrow from your 401k. However, the danger is, if you should leave the company, then you have to pay it back. If you don't pay it back, then you're going to be penalized and taxed. Okay? And in some of those contributions, this is a plus for some folks, but could actually be a minus, especially in today's tax situation is that you have, uh, you know, you, you can deduct your contributions. Okay? So with a 401k, you have those four options. Those, those four benefits to having a 401k. However, I would really consider if there's no match, putting money into a 401k is really setting yourself up, not to fund your retirement, but for you to fund uncle Sam's retirement, let's talk about money market type of accounts, with a money market account. Speaker 2 00:05:05 You can put high contributions into a money market account, okay? As opposed to a 401k you're limited, you have collateralized opportunities when you have a money market. In other words, if you have money in your money market account, you can borrow against it. If you want it to your money market also has what they call a safe Harbor. And you have no loss provision in a money market, as well as you have liquidity use and control. So you have five benefits to having a money market account CDs. You have the exact same benefits with a CD high contribution. You have collateralized opportunities, you have safe Harbor and you have no loss provision. And that's it. Okay. Now you may think that your, your CDs are liquid, but they're not. In other words, when you tie up a CD, you have to have it for a certain amount of time or else. You know, it could cost you Speaker 2 00:06:12 Margin accounts, Marcia couch, you have competitive returns. You have Chi contributions. You can put into it. You have collateralized opportunities. You have guaranteed loan option and you have liquidity use and control in those margin accounts. So in the margin account, you have five opportunities in a headlock. You only have two. He locked you out of deferred growth tax, deferred growth, and you have collateralized opportunities. This is where I believe the rubber meets the road. And for some of you, your eyes may roll back, but really stay with me here. Because if you understand his vehicle in this tool and you know how to work, it, it could make all the difference in the world. This is your PLA, which is your personal life insurance. Now, before you get all wildlife, here we go like, Hey, look, this is something again. This is an opportunity for you to learn the swing. Okay? Now personal life insurance gives you tax deferred growth, right? You have, you can have tax-free distributions on the accumulation. Speaker 2 00:07:29 There's competitive returns, depending on how much life insurance you purchase, you could have high contributions. Do you have other additional benefits such as you could have terminal illness included in there, you don't have to go out and buy a terminal illness policy. You could have chronic illness so that if you couldn't do two of the six normal daily functions, your life insurance kick in, in other words, you don't have to die to get the benefit critical. It was to be at a heart attack, stroke, cancer, any one of those types of things that can also kick in and take care of you. You don't have to die to get the benefit. Some of them have accidental. So if you were in a car accident, you were in a coma, this thing could actually kick in and make some resources available to take care of you. Speaker 2 00:08:17 And then finally let's say nothing happens and you're in your sixties or seventies, and you want a guaranteed lifetime income. You can go ahead and include that as well. Some companies offered that benefit as well. So those are the additional benefits. You have collateralized opportunities. In other words, you can borrow money from the insurance company. They won't touch the money in your account. Now the insurance company is going to charge you an interest rate. However, your money still has the opportunity to earn interest. Okay? So just as an example, let's say they charged you 4%. If you make 4%, it costs you nothing to borrow the money, but you didn't have to pay taxes either on the game. However, let's say that you make 5%. Now you made 1%. So you have that arbitrage. Well, let's say you made six or 7% or 8%. Some of these things have a 10% cap. Speaker 2 00:09:18 So I'm having an 11. So I'm have a 12% cap depending on what the markets are doing. And they, in most of the time they have a zero floor. In other words, the way that a lot of these work is they're based on indexes. Now your money is never goes into the index. However, what they do is they take sometimes what they used to guarantee that one or 2%, that they would guarantee an, a policy. They take that and they buy options on the S and P 500. So your money is never at risk. They buy options. So if the account does zero, the option is gone. Let's say the S and P 500 between January of 2020 in January of 2000.1, it earned a 5% return. That's what they credit your account. If it earned a 10 day credit your content, if it earned a 15% in, let's say the cap was 10, all you to get, it was 10. Now a lot of times people think that the insurance company keeps the difference. No, it's actually the market maker who gives the difference. Speaker 2 00:10:26 Okay? So, I mean, that's an in-depth explanation of how it all works. However, it does work. And for those of you that are interested, I can actually show you clients myself, included on how our policies worked. So I was just, just a tremendous opportunity. Now, if you're borrowed the money and they're charging you 4%, if you have to do a burn to zero during that period, then it costs you 4%. But in many cases, a lot cheaper than having to pay taxes on that money. Okay? So you have those collateralized opportunities. You have safe Harbor. In other words, your money is secure from lawsuits. Okay? Say from lawsuits, you have a no loss provision. Okay? In other words, you have that floor, you have guaranteed loan option. In other words, you're guaranteed that you could borrow money out of your account. I've done it several times, several occasions. Speaker 2 00:11:29 In fact, a lot of times I'll show how exactly how it works. You know, you pulled the money and, you know, within a few days, the money is available to then you have what they call unstructured loans. So if you borrow money from a bank or any other institution is considered a structured loan, you have to make payments instead of a life insurance contract, you have what they call unstructured. In other words, you could pay it back whenever you want to, or you don't have to pay it back. That's many times as the question. So if you don't pay it back in, let's say you pass away. Then your life insurance will pay back the loan. Okay? But I always encourage people. I don't know of a better, safer, more secure place that I could put my money in. You know, if you take a look at banks, how many banks have gone out of business in the last 20 years versus life insurance companies, you have liquidity use and control of your money. Speaker 2 00:12:27 Like I said, you could take the loans. Look, you know, if I needed money, like when we did our yard or I had to do something else, all I have to do is make a phone call. I can get the money, then I can put it back. As soon as I get it, I can't tell you what an incredible vehicle that is to borrow money. I use. So I use these types of plans for college planning. If I want to make a major purchase, instead of borrowing it from an institution and paying a high interest rate and having to have a structured loan, I'd rather do it through this. I could put the money back in my money is always making money. I'm not interrupting the compounding of interest of my money. It's always working for me. If I were to fund a wedding or, you know, a lot of times people lose money by making major per how they make major purchases. Speaker 2 00:13:20 Look, if I want to purchase something, a major purchase, right? And I wanted to go out, let's say I was going to go out and buy it. And the only rich trade they'll give me is five or 6%. I rather borrow it from my insurance policy and pay it back. And in fact, if I did that, I could probably work out a better deal with whatever I'm buying. In other words, I can say, Hey, listen, if I paid you cash, could you give me a better discount by you having your money in these types of vehicles literally puts you in control. Speaker 2 00:13:57 I'll give you an example. I went to go, I was, I was considering trading my car in for another car. And I go to the car dealer. I wanted to purchase this car. They wanted to give it to me for five and three quarters percent. Now they knew when they ran my credit that I have the assets that, I mean, I could borrow the money anywhere I want, or I could write them a check cash for the money. So when they told me they were going to give it to me for five and a half percent or 6%, whatever it was, I stood up and I was, I w I was walking out the door and the guy's literally chasing me out the door. But the fact that I'm not interested in paying any more than I have to. And neither should you be, why not? Speaker 2 00:14:41 Why not take control of your finances? Why not take control of your money? Why not? You be in charge. You have the control instead of giving the control to someone else. We have a lot of other information on these types of strategies and, and having an acute, a lifetime accumulation strategy. I would encourage you to visit our website at www dot LTF, Again, Or you can email us at support at LTF, G L L Again, support at LTF, G L L Or you could reach out to us by phone (602) 774-4735 again, (602) 774-4735. Folks. It's been a real pleasure. These, the, these podcasts are not so easy to do. I hope you've enjoyed your time and you you've learned something. I would encourage you if you didn't get the book yet. And you're listening to this podcast, send me an email. I'd love to send you a book. Speaker 2 00:15:53 Really? My focus, my passion, my desire is really about educating and providing information. When it comes to finances, look, I, I came, I come from very, very humble beginnings. It was not easy. I learned a lot of lessons growing, growing up, and, you know, I've made a ton of mistakes. If anyone's made mistakes in the financial world and how to save and invest and accumulate and all of those types of things, I'm your guy. I've made all of those mistakes. One of the ways that I like to describe this as like, you know, I, I made it across the minefield without getting blown up. Don't get me wrong. I've had a couple of, uh, a couple of blowups, but you know, I, I came through it, but I like to pass this information on to you. I really would. I love to teach you how to earn, how to accumulate, how to, how to invest those of you that are listening to this podcast. Speaker 2 00:16:55 If you're looking for a great opportunity to go out and help people that you know, you love, you care about that you want to help get their financial life in order. Hey, we'd love to have you come and interview with us and possibly come to work with us. Folks. I can tell you this. You know, when I started in this business back in 1993, if you'd asked me a couple of years before then if I'd ever be in his business, I would have thought you were crazy, but I'll tell you it's the best decision I ever made. And I've helped a lot of people along the way. So I would encourage you to get your financial life in order. And for those of you that are looking for a career opportunity, come, come visit with us. Let's sit down, let's go through an interview. If you're the right person, I believe you'll be at the right. You'll be at the right place at the right time. This is an incredible opportunity. And you know what? I get my excitement, my joy, helping people and making a difference in their lives. So I encourage you again, come and join us. And I'll look forward to being with you in future podcasts. Speaker 2 00:18:09 Now, let me, I'm going to also, in conclusion, if you read the book, I applaud you. You've taken the first step to own your crusade, to educate yourself on how money works. Now, you have the ability to make informed decisions, maximize your financial wellbeing and discard the idea that someone else is going to do it for you. I trust me, no one is going to do it better than you do. It's it. Look, I don't expect you to become a financial professional, but you know what guys, you need to absolutely understand what's going on with your money. No one else is going to bring you prosperity. There's only you and your resourcefulness. That'll replace that illusive X on the map with a Y for you. So guys, listen, you have to know that you're not alone. We here at lifetime financial, our coaches are absolutely willing to help to make a difference. So I would encourage you to get in touch with us. Come in, check us out, kick the tires. I mean, come to some of our workshops, go to our website. We are always looking to try to provide the best we possibly can at all times. Speaker 1 00:19:40 Again, I want to thank you. Look, Speaker 2 00:19:43 We can help you to realize your dreams so that you can live a life that you deserve. And you know what folks let's take the next step together again. Thank you very much. I appreciate you being on our webinars, podcasts, reading the book and doing all that you can do and be to get to where you want to go. Thank you very much. Have a good day. Speaker 1 00:20:08 <inaudible>.

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