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Money. Wealth. Life Insurance.: How the Wealthy Use Life Insurance as a Tax-Free Personal Bank to Supercharge Their Savings

4.09  ·  Rating details ·  389 ratings  ·  50 reviews
America’s elite have been using cash value life insurance to stockpile wealth for centuries. Used correctly, it is better described as a personal bank on steroids, and a financial bunker for tough times.

To be clear, this book is not about the typical garbage peddled by most insurance agents. Rather, an alternative to the risky investment strategies taught by Wall Street.

Kindle Edition, 72 pages
Published January 15th 2014 (first published January 1st 2014)
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Chris Thompson
Aug 05, 2017 rated it it was amazing
A Must Read

Jake Thompson (a Thompson brother from another mother)has written a clear and concise explanation of why properly funded cash value life insurance is the "Swiss Army Knife" of financial products. You will be blessed in unimaginable ways if you read this book and then implement its strategy.
Cody Martin
Jan 24, 2018 rated it it was amazing

I am at a loss for words. Everything I’ve been told all my life has been a collection of lies and half truths. This book is really eye opening.
Ernest Sneed
Sep 03, 2019 rated it it was ok
Shelves: business
A short e book on how cash value life insurance can be used a part of a financial plan. The author's intent is to have one purchase a high cash value life insurance policy. He reviews the conservative nature of this instrument as compared to an unpredictable stock market. Also, the book details the tax advantages of the cash value that can be used anytime tax free. He does not compare the financial returns to a portfolio performance of various percentages of stocks/bonds/money market instruments ...more
Aug 24, 2019 rated it liked it
I got this to see if indexed universal life insurance as mostly-tax-free investment is even still a thing at all in 2019. Apparently it is. This book says most of the same stuff as The Last Chance Millionaire; it just doesn’t go on and on about taking all the equity out of your house to do it.

However, this author lost me in the first few pages because:
- All the sales copy about the book was “blah blah 2019,” but the copyright date of this book is 2013.
- The author apparently doesn’t know the di
Celeste Ireland
Jan 25, 2021 rated it it was ok
Light on explanations

I bought this to follow the Nash book “Becoming Your Own Banker, 6th edition”. While this had more realistic numbers for 2021, the concepts were covered off much better in Nash’s book with far more examples and explanation. There’s also an error in the value tables in the case studies. The total insurance amount falls drastically mid-life despite no withdrawals - this isn’t possible and would have been caught if this book had been edited. This is a very short read and lacks
Chris Coffey
Dec 30, 2019 rated it really liked it
A good illustration of cash value tax free retirement but the author fails to understand why 401k investments are still a vital part of retirement

The author does a great job explaining the cash growing power of high cash value life insurance. However, I feel that the underestimates the importance of a client obtaining the 'matching' or 3% of their 401k as it is never a good idea to leave free money on the table. As a financial advisor, when I meet with new clients I make sure that they are contr
Gregory Dunlap
Oct 21, 2020 rated it really liked it
Money. Wealth. Life Insurance. Introduces many concepts used by wealthy Americans, Business Owners, and corporations who use High-Value Whole Life Insurance Policies to generate Protected Financial Growth.

While many criticize Permanente Life Insurance, those critics are not generating the same wealth as major financial institutions that use Permanente Life Insurance Policies to protect their financial interests.

The writer of this book, in my opinion, does a great job at simplifying the concepts
James Barber
Sep 16, 2018 rated it it was amazing
Good stuff

I’m an independent insurance agent. The wealth accumulation strategy available through properly structured permanent life insurance is real. This book explains much of it pretty well. There’s a lot more to it than just understanding the basic concept. So, if you’re interested then I suggest reaching out to someone familiar with how to set them up. The difference between a regular policy and a properly stricter one is staggering.
Cerissa Tate
Jun 23, 2020 rated it it was amazing
Easy to read

This book is very well written and easy to read. Many times financial books tend to be very technical. This author, however, concisely explained the subject matter. I'm left knowing what I'd like to implement in my own life and future retirement. I should note, that no financial advisor or insurance sales agent has ever provided information as what I read here. Glad it was recommended, I know will reccomend it as well.
Darryl Moss
Apr 14, 2018 rated it really liked it
A good Sourse of financial information!

It is a very good tool to have in your book case or in you kindle reading material. I think you will find that the earliest you look into financial growth the more you will see that life insurance opens all the door of a lifetime or financial stability.
Kerry Etheridge
Jul 12, 2019 rated it it was amazing
This is a must-read for anyone who is interested in or intimidated by finances, savings and how life insurance works. Very short, you can read it in a couple of hours in one sitting. Believe me, you'll want to read it many times. I've actually given it to a couple of people as a gift when they've expressed interest in saving for retirement, kids college tuition, etc. ...more
Dec 12, 2019 rated it it was amazing
Wealth is within sight now

Great info. We are all programmed and this book helps you see the truth about the financial world. Awesome book well worth reading and following it’s advice. A must read in my opinion. Thank you for letting me see a future in such a dark world of manipulation .
Marvin Hernandez
Jul 29, 2020 rated it it was amazing
Great read!

I’ve read it in 2 days! The book is very easy to read and the author does a great job at getting his pint across in a very concise way.

The book drops many nuggets of knowledge!

This is a very good book for the average person and for professionals alike. Does in the insurance industry should and must read this book.
Aug 09, 2020 rated it really liked it
This book is eye-opening. Recently I read an article on life insurance on Rateweb stating the importance of insurance in life just as the book entails. Insurance really does opens doors for financial stability for generations. ...more
Michaell Cavllaro
Oct 18, 2020 rated it it was amazing
How Cash Value Life Inurance Policies Can Make You Rich

I'm glad I read this book. I never thought about using cash value life inurance polocies as a safe way to accumulate wealth. Why risk your money trying to make more money when you don't have to. If you want to inest your money with out taking heavy risks I urge you to read this short, but to the point book.
Benjamin Chavez
Nov 12, 2016 rated it really liked it
Good but not enough

I would have liked to see more about the compounding Interest, what are the fees like, the author kept on saying that you get the benefits if the insurance policy is structured right. He never compared a bad example of a policy to a good example of a policy.
Gregory Blanchard
Apr 28, 2018 rated it it was amazing
Excellent read! Very thought provoking with pertinent historical perspectives.

It's time to ditch the 401k and begin building REAL WEALTH, safely& predictably! I can't wait to get the strategy started!
jaime preciado
Sep 22, 2018 rated it it was amazing
Great Book!!!

A great great for anyone looking to buy Cash Value Life Insurance . Fast and easy read, written with plain English to understand the insurance policies program. Thank you.
Hans Scheil
Dec 09, 2018 rated it it was amazing
Exactly How Life Insurance Works

Given many years to accumulate wealth and protect one’s family; a life insurance policy with high cash value is a guaranteed winner! Hans Scheil Author Cardinal Guide
Christine Kennedy-Riffon
Jan 25, 2019 rated it it was amazing
Information every one should know

Thank you for this wonderful read! Very informative and helpful. I wish some of the examples were based on lower income and some for younger as well as older people scenarios. Nevertheless it is a useful resource and outline.
Augusto E. Letona
Sep 15, 2019 rated it it was amazing
Tax free growth!

It is constantly reassuring to read about tax free growth vehicles that only the wealthy have enjoyed. Knowing that the average person has been bamboozled with 401k's. I appreciate folks like Jake and David Mcknight.
Apr 29, 2020 rated it liked it

Good information, but it assumes the reader knows what a "cash value life insurance policy" is in the first place. The book never explains in laymen's terms what it is. It covers the product quickly and with no detail.
Gary L Rau
Jun 28, 2020 rated it it was amazing

While some parts of this book read like a sales pitch, the author does provide historical perspective on the importance of life insurance to the American Dream.

Recommended for those seeking a broader perspective on investing that includes risk management.
James Haddock
Sep 27, 2020 rated it it was amazing
Good read

This is a well written, easy to understand book covering sometimes complicated question. It has opened my eyes to a new way of thinking about money, savings, and life insurance. Great book!
Rudy A.
High Cash value

This book was all about high Cash valued life insurance. The life insurance policy with a combine cash value is your best savings account, low risk account, and guarantee cash where you become your own bank.
Geoshin George
Jan 30, 2021 rated it it was amazing
Jake Thompsons write something big in that, it so much good and accurate.
I know much about Vehicle Insurance as i working in that field from years.
You can read my things here =>
Joshua Jacobs
Feb 11, 2021 rated it it was amazing
Good beginners guide to life Insurance

A short and sweet read for anyone looking for financial/investment opportunities. I liked that it as a brief introduction into life insurance strategies but it was not particularly technical.
Jaffey Joffer
Mar 07, 2018 rated it really liked it
Very informative and insightful
Jan 29, 2019 rated it it was ok
Good ideas, but poorly written and doesn’t begin to explain well enough how it works. The concepts are definitely worth looking further into.
May 31, 2019 rated it really liked it
Shelves: finance
good example in this book is how companies use insurance to protect themselves.
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Megan Bennett American Family Insurance 1 1 Dec 30, 2020 12:26AM  

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“I like to refer to this tool as a personal bank on steroids, an unparalleled place to stockpile cash, and a financial bunker for tough times… ...but it is better known as cash value life insurance.” 0 likes
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