2016, 2018 - Book - What Would the Rockefellers Do?: How the Wealthy Get and Stay That Way ... And How You Can Too, by Garrett B Gunderson
2024 - Book - Workbook for What Would the Rockefellers Do?: How the Wealthy Get and Stay That Way, and How You Can Too: An Interactive Guide to Garrett B. Gunderson’s Book - by Gold Print
p30 - Robert Castiglione, the founder of the LEAP (Lifetime Economic Acceleration Process) system of financial engineering, teaches that financial institutions operate under four rules:
1. Financial institutions want our money.
2. They want it on a regular, systematic basis (preferably through automatic withdrawal).
3. Once they have our money, they want to hold on to it for as long as possible (hence early withdrawal restrictions).
4. If they have to give it back, they want to give back as little as possible.
Does this make the business practices of financial institutions unethical? No. The point isn’t to criticize them for operating this way, but to clarify that their operations are based on their own interests—which often do not coincide with ours. The fallacies of the accumulation theory are exposed when we understand what the financial institutions do with the money that we give them—
03:50 - UL sold as Whole Life, UL is not whole Life, Built upon Term insurance Chassis
07:30 - not permanent, somebody dies and the insurance isn't there, people say that life insurance companies don't pay, no, that isn't what's happening.
09:00 - Universal life is a zero-sum game, original purpose was...
9:40 - Accountants made UL....-?
Insurance companies have a terrible reputation
10:00 - Garrett / Todd - 2008 recession, Double Dip, Variable Life - Complexity of IUL - People don't know how it works - Does taking money out of Policy affect your COI, NAV - Crediting has a lot of affects, Sequence of Returns,
12:50 - WL getting replaced by IUL. Guarantees vs NGE's.
not to protect the consumer, it's to protect the company
6.81% max-? - Caps, Floors -
14:45 -
Garrett - alot of moving pieces, alot of things you are not being told, level of uncertainty, Tax Shelter
later people will think they have a different product
if somebody sold it, they may not know
Garrett / Todd - People think it's simple, I can't think of a more complicated product, They think they are buying an Annuity - Maybe it's easier to sell if you don't explain it