Posts Tagged ‘banking system’

The Very Secret 770 Account That Sounds Too Good To Be True (But Isn’t)

Saturday, December 21st, 2013

 

The Very Secret “770 Account”

 

So about that “770 Account” you’ve been hearing about…

 

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Before I get started on the 770 Account or what’s now being called the 702j Account, I want to share with you another little money secret.  It’s called a “401” account.  It has no guarantees except that you can and will lose money when the market tanks and eventually you will have to pay taxes on it whether you have a gain or not.

 

Still interested?

 

It gets even dicier. Your money in this 401 account is in most cases illiquid until after age 59.5 and you have to pay fees on the account (even hidden fees that you know nothing about) for life to Wall Street whether they make you money or not.

 

Can you guess what it is?!?

 

If you follow the mainstream financial media you likely have one of these 401k accounts.  You also buy term insurance thinking Whole Life is expensive and have been led to believe permanent life insurance is a waste of money.

 

Madison Avenue and Wall Street know that if you hear the same thing for long enough, you’ll actually believe it’s true. Those fat cats are pretty clever, aren’t they?

 

In my honest opinion, only an unwitting person completely unaware of a better option would park their money with Uncle Sam and Wall Street in a retirement account lockbox called a 401k because one entity will tax you for life and the other will bleed your account dry while you take all the risk.

 

If that’s appealing to you, please proceed with your regularly scheduled programming…

 

The only people getting wealthy from mutual funds & 401k’s are the financiers on Wall Street!  

 

My apologies (sort of) for poking fun at the 401k which the majority of Americans use to fund their retirement.  My point in leading off with it is to point out that a “secret” financial strategy like the 770 Account isn’t really much of a secret because it’s actually been around for over 150 years.  Depending on how old you are, your grandparents probably had one!  They certainly didn’t have a 401k and they were smart enough to not trust the banks.

 

770 Account

One important difference between the 770/702j Account and the 401k account is that you’re only familiar with the latter.

 

The 770 Account is the alternative retirement account that you either have never heard of it before or, if you have, chances are you are most likely misinformed or have yet to be properly educated about the strategy.  (The first giveaway is that you’re calling it the 770 Account!)

 

I can pretty much guarantee you don’t understand this proven wealth strategy because the life insurance industry doesn’t even teach this strategy.  In fact, it’s still so obscure that it’s now being called the 770 Account by a newsletter putting a new spin on old registered trademark and people are none the wiser.

 

And if those in the life insurance industry don’t know the in’s and out’s of this financial strategy  (sadly,the majority of advisors use the wrong type of contract), I’m absolutely positive the traditional government approved Wall Street advisor knows next to nothing except what they might have heard about it in conversation from a client asking them to open an account for them.  So for the lay person, knowledge about the 770 Account is even more obscure, if that’s even possible…

 

The bottom line is this, the 770 Account is very much a secret if you call it by that name.  Lately I’ve been seeing videos on the internet for a secret investment that of course sounds too good to be true.  It’s called the “770 Account” or “the Presidential Account” and as recently as August 2015, the “702j Account” but it’s best known as the Infinite Banking Concept® (or IBC for short) which is the original trademark and the trusted source behind this strategy.

 

For those that already think they know what the Infinite Banking Concept is about, I’m going to stop you in your tracks.  Infinite Banking is more than a Whole Life contract which is simply a product that combines a tax-favored savings component under IRS code 7702 (get it?) with a death benefit to boot.

 

Brace Yourself…

 

The 770 Account is REAL and BY FAR the best place to park cash for use over one’s life because it’s actually safer, 100% liquid, and more predictable than any other type of wealth accumulating strategy that exists.

 

Just try not to call it the 770 Account or 702j Account because that’s a clever but deceptive new name some folks at the Palm Beach Newsletter have given it after they did their own very thorough research.  I’ll admit the new name is catchy.  So much so that I even refer to it as such when people call or message me asking for more information but at the end of the day, remember that it’s original name is Infinite Banking.  And even more important, please remember this key detail:

 

The Infinite Banking Concept® is the only strategy by which you can eliminate uncertainty (Wall Street), usury (bank financing), and taxes (the IRS) from your life forever.

 

What could be better than the 770 Account/702j Account (Infinite Banking)?!?

 

Answer this riddle and you will know:  It’s more powerful than God. It’s more evil than the Devil. The poor have it. The rich need it. If you eat it you will die.   (Answer below.)

 

This is what the strategy visually looks like (click to enlarge):

770 Account Banking Process

Money must reside somewhere. Grow it, keep it, and pass it on!

 

As an IBC Practitioner, I teach this strategy in my practice and I’ve seen the impact it has had in my clients lives.  The “770 Account” is the mother of all foundations for wealth building. Why? Because it can give birth to new investments without opportunity cost.  Your money is always working for you even when you deploy it somewhere else!

 

Educate yourself by doing your own research about the Infinite Banking Concept.

 

Don’t believe the online jokers on message boards who know nothing about Whole Life contracts.  This includes the typical Wall Street advisor paid to sell you mutual funds or the lay person who only buys term because they’ve never learned how wealthy people accumulate tax-favored money in these accounts using very specific riders to turbo charge the cash values.

 

For a better understanding of how the 770 Account works, talk to an IBC Practitioner who can teach you the concept.  You can verify my affiliation with the Infinite Banking Institute by clicking here: http://www.infinitebanking.org/finder/   Best of all, you won’t have to pay a monthly subscription to a newsletter for learning how you can get started with your 770 account/702j Account.

 

…and the answer to that riddle above: nothing.

 

And by the way, the most common lament I hear from people once they learn the truth about the 770 Account/IBC is that they wish they would have known about this decades ago.  (Just heard it again this morning from a 64 year old gentleman wanting to get started and is two years from retirement.  If this sounds similar to your situation, a different version of the 770 Account is your best bet.  Ask me about it.)

 

Do yourself a favor and get in touch to request a free Infinite Banking personalized solution today.  Until you see what your plan will look like, you’ll never truly know how much wealth you’re giving away.

 

You’ll thank yourself later (and your kids and grandkids will, too).

Grow Wealth Early & Often

 

Best,
John A. Montoya
JLM Wealth Strategies, Inc.
john@JLMws.com
(925) 386-6639 Office
Bank On Yourself™ Authorized Advisor
IBC Horiz-Med

 

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How Much Does It Cost To Get Started?

Wednesday, June 16th, 2010

How Much Does It Cost To Get Started?

By John Montoya

June 15, 2010

This is probably the most common question I get asked after sharing with people how they can bypass the traditional banking system and create a banking system they can own and control, and therefore generate profits from a lifetime of financing. The answer is really simple. However, in order from someone to really understand the concept of Infinite Banking, I answer their question with a question so they can begin to wrap their mind around the concept. Here’s what I ask:

“How much does it cost you to save money now?”

It’s a pretty straight forward question but I never get the most obvious answer. The cost is really $0. For example, if you save $250 every month, there is nothing spent there. It certainly requires discipline to save money, but there’s no cost involved. According today’s article in the L.A. Times, there is $5.06 trillion dollars sitting in passport savings and money market accounts earning closing to 0%. That’s really quite astonishing on many levels.

The reason why our savings rate is increasing is because people are scared about losing money. I think a certain level of paranoia or call it caution, is a good thing considering the amount of risk people were willing to stomach in the past decade in order to chase rate of return. Being weary of losing money means people are being more rational about the risk/rewards of investing. If people start to take a greater interest on the return OF their money versus the return ON their money, I think this “lost” decade won’t have been for nothing. However, some could argue, and perhaps rightly so, that having so much money currently sitting on the sidelines is an extreme over reaction to the volatility the stock market has been experiencing since late 2008.

Whatever the case may be, people are saving money and I mean really saving money the old fashioned way. I don’t mean “investing to save” which is what most people do with their 401k/IRA contributions. True investing means that money is at risk of loss or has the potential for gain. Saving is simply socking away money which you know will be there when you need it. So many of us have been hypnotized into believing that money we put into our 401k/IRA’s is our savings, but there’s a reason why government statistics do not include qualified retirement contributions as part of their savings statistics. I believe it’s because this 401k/IRA money could be here today and gone tomorrow which we all know can happen with stock market investments no matter how savvy an investor one may be. Here today and gone tomorrow hardly implies savings you can count on when you need it.

So what has it cost the American public to save $5.06 trillion dollars; money deposited into accounts with the confidence it will be liquid should it be needed? The answer is nothing. Every dollar of that $5.06 trillion dollars is liquid and available for withdrawal.

It works the same way when you own and control your own banking system. It costs you nothing because ultimately what you will have funded the banking system with will include every dollar you saved. Furthermore, the longer you have the banking system, the more profitable it will become.

So what are the next most frequently asked questions?

“It sounds too good to be true. There has to be a negative or more people would be doing it. Why aren’t more people doing this and what are the downfalls, if any, to implementing this strategy?”

Stay tuned as I will answer this for you as well.

For more information about Becoming Your Own Banker or to attend a workshop, please contact us (925) 386-6639.



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