And how you can do the same…
Last August I finally did it: I bought the Dodge Ram I’ve had my eye on for a couple years. And the BEST part about it is that the new monthly payment has ZERO impact on my monthly finances…
…because I created 2 assets that are paying me enough money every month to cover the truck payment.
Here’s the 6-step recipe I used that you can replicate to do the exact same thing:
Step 1: Put my savings and discretionary income into a dividend paying whole life insurance contract (just like you are already doing)
Step 2: Leverage my accumulated cash value for a cash loan from the life insurance company
Step 3: Perform a private loan with that cash to a company that in return pays me monthly cash flow AND creates equity for me in the company
Step 4: Set aside a portion of the cash flow I receive to cover the annual interest on the life insurance loan
Step 5: Use the remaining cash flow to cover my new truck payment
Step 6 (a few years from now):
Receive my principal back from the company and use it to pay back the life insurance loan; continue to receive annual equity payments from the company since I earned equity by lending it my money.
During this entire process, the cash value inside of my life insurance policy went untouched, growing that asset by earning dividends and guaranteed contractual growth on the entire original amount…
…even while I was leveraging it to create a second cash flowing asset at the EXACT same time.
2 assets + a new truck all using the exact same dollar.
So what is the end result of this recipe?
- Fully paid off Dodge Ram
- Life insurance loan fully repaid
- Equity in a company that is paying me an annual equity payment even AFTER my principal has been returned
And because you are reading this, that means you already have half the ingredients (cash value life insurance) necessary to make this happen. All you need now is to put that cash value to work in a second place that is going to pay you monthly cash flow.
If you want to learn more about how you can replicate this recipe, schedule a meeting using the link below and let’s talk.