My day usually begins around 5 am with a cup of coffee. My days are filled with excitement as we are committed to sharing America's best lifetime tax-free distribution plan. In our first engagement phase, we have chosen to bring to our community business owners, their families, and children through the chamber of commerce and our circles of family and friends.
Let's go back in time with how this journey got started.
While working in the insurance industry, IRS Rule 7702 caught my attention. Despite being dismissed by my colleagues as too challenging to understand and explain, I spent five years studying cash accumulation insurance contracts - only to discover that this could be the missing link to financial change for many millions of people; in fact, everyone should have in their portfolio, including every newborn.
It provides everything one needs to protect one’s personal, financial, and physical self while creating wealth tax-free without fearing stock market volatility. The flexibility of the contract is also impressive, allowing individuals to contribute what they can afford in any given month and then have the choice to do even less without the disruption of the contract.
This next bit of valuable information is unique: having your gains locked in and never taken away. Yes, in the contract, a feature provides annual gains to be locked in, unlike a traditional 401(k) plan.
In a 401(k) plan, you could experience a loss in your account anytime. There is nothing to protect the account from market declines. For example, after eight years of gains, but the next two years, there are significant losses in the market, like in 2008; all the gains you had were wiped away, which would devastate someone expected to retire shortly.
A 40% decline in the account value could force someone to continue working. It took approximately four years for the accounts to get back to their original value, that’s right, to get back to where they left off. Meanwhile, those with a 702s Plan significantly increased their account value because of the protection from market volatility.
Another feature is the power of uninterrupted compound interest. Sure, we have all heard about that, but have we ever seen it go to work with our own money? In most cases, no, in this contract, it is one of the leading forces behind the growth of wealth.
Another important thing is to be able to access your money when you need it at your discretion; unlike the traditional 401(k), there are terms and conditions to how you can access your money until you take distributions after 59 1/2, but with the 702s Plan, you can access any time after two years which makes sense, it is your money. You should be able to access it as you please.
During my research, I saw the importance of having the insurance component for two purposes:
To comply with the IRS rule 7702 for lifetime tax-free distribution.
If one was diagnosed with an illness or suffered a severe injury.
Let me explain: I discovered a high percentage of people who are diagnosed with an illness or suffered a severe injury were unable to return to work for an undetermined amount of time or not at all. During this time, many would fall behind financially, resulting in losing their home, damaging their credit, and feeling hopeless.
Living benefits protect one from all of this because they can focus on recovery instead of being stressed about paying a mortgage payment, credit card, or bank loan and keeping food on the table. Therefore, this is a critical benefit of the 702s Plan.
Now, let's hit on the most crucial benefit of the 702s Plan. The secret sauce is the IRS rule created by the US Congress in 1984, where the IRS oversees rule 7702. This states that the accumulation can be accessed through loans inside a cash accumulation insurance contract. That, for me, was the game changer.
My commitment is to share this knowledge with hard-working Americans, and we can help many understand how to leverage their earnings and create opportunities for a lifetime. The 702s Plan can even benefit children, teaching them the importance of wealth building and financial security from an early age.
Providing children with a 702s Plan early could result in unimaginable lifetime tax-free wealth. One last thought that was part of my thinking when I created this plan was to dissociate the event of parents needing to pass to leave wealth; for me, it made better sense to begin this process early and create far greater wealth with so much less of the parent's financial contribution.
You could contribute $15,000 to a child’s life through the 702s Plan and leave them the financial security that provided lifetime tax-free distributions. Insurance for an elderly person to leave a legacy for a child can be costly, but creating wealth through the 702s Plan with the child as the insured is very affordable. Parents and grandparents can leave a legacy for their children with minimal out-of-pocket contributions.
The 702s Plan was created to be a comprehensive plan that benefits everyone, regardless of age or background. It aims to promote economic growth and prosperity for all. I would appreciate your help in spreading the word about this plan. The desire to improve our own lives and the lives of our loved ones is a universal aspiration that connects us all.
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