This is the most powerful, life transforming financial book I have ever read! Mr. Andrew does a very good job making the concepts accessible to a non-financial audience, with many great analogies and real world examples.
Admittedly the concepts are complex and contrary to the conventional wisdom (and few advisors, insurance agents or CFP's know or understand them). That alone is enough to ruffle the feathers of those with a vested interest in maintaining the status quo. I would expect no less than a chilly reaction from the CFP's of the world...these ideas may make them obsolete for anyone looking for a more liquid, safe and efficient way to accumulate wealth than maxing out your IRA and 401k. I urge you to meet with an expert in the strategies who can intelligently and factually respond to any criticisms, then bring what you learn back to your CPA, Attorney, Insurance Agent, Mortgage Broker, CLU, CFP or other Financial Advisor for them to rebut. The concepts will withstand the most rigorous scrutiny and due diligence from your other advisors and experts. *Beware...they may have a vested interest in finding fault with the strategies, listen to legitimate concerns and be a seeker of the truth. Be sure the expert you consult actually understands the strategies before they attempt to raise objections.
Some of the negative reviews here are simply ignorant reactions and some are just factually wrong...demonstrating that they lack a thorough understanding of the implementation of the strategies. Please re-read the book until you "get it".
The reason the strategies work is because they combine several powerful forces in a brilliant synergy: Leverage, Arbitrage, Tax Free Growth, Compound Interest... all the while considering Opportunity Cost. The plan requires little time and effort to maintain, can significantly increase your wealth while remaining cash flow neutral. When compared to the alternatives being put forth by "conventional advisors" it's a slam dunk!
Regarding the accuracy of Mr. Andrew's numbers...Mr. Andrew indicated they were verified before publication by professors at a major university in Utah. *(I can't recall which one... call Paramount Financial and ask, they can verify it for you.) Although you may disagree with his assumptions...I would argue the strategies still work if far more conservative numbers are used for the Fixed Index Universal Life(FIUL) policy projections and far more aggressive numbers are used for the alternate investment projections.
As a response to one reviewer who recommends that you use your home equity to purchase real estate to build wealth instead of purchasing FIUL insurance; I agree that real estate can be a great wealth building alternative as it can provide safe positive leverage...the problem is when you are only investing in real estate you will give up liquidity, possibly safety and you will lose tax free compounding, it may not be cash flow neutral(if you are a buy and hold investor and can't rent it), it requires expertise to do correctly, it requires a significant time commitment to maintain your investment plan(i.e. it's a part time job). You also lose the leverage that life insurance death benefit provides in the event of an early death (real estate may not have developed any equity) or when transferring the assets at death. There are many benefits that you can only get from a properly structured FIUL insurance contract. So I would not discourage additional real estate investments, just be sure to augment with an FIUL. In fact...your life insurance could assist you in making and maintaining additional real estate investments as you can borrow from your life insurance tax free using a wash loan(net 0% interest)to purchase additional properties, cover temporary cash flow interruptions, cover expenses and have the flexability to repay(or not) when it works best for you!
Read it, have a plan developed, and decide for yourself if it makes sense for your situation. (When you see how life transforming your plan is, you will understand what I mean in my opening comment.) In fact the Missed Fortune approaches are so powerful I flew to Salt Lake City to learn the finer points of applying the strategies...directly from Mr. Andrew.
I hope you find this cuts through some of the propaganda put forth by those with a vested interest in keeping you in the dark. May you all prosper and find your own True Wealth.
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