Video instructions and help with filling out and completing Where Form 8815 Banking

Instructions and Help about Where Form 8815 Banking

Well good morning this is a particular session is being recorded and will be broadcast on money show comm and will be available on their website as well as our website in a month so I'm excited to see you here I'm excited to see that there are a few people at the San Francisco money show that don't like to pay taxes that's why you're here because we're going to talk about tax free it's it's a different sort of world that you're going to be entering into it is the world of tax free not tax deferred like the IRAs or the 401ks or the annuities this is a tax free world that we're going to be talking about and I've entitled my topic and my book which by the way all of you in attendance today will be able to receive a copy of this book it's 24.95 on Amazon but you can get it from me here today for $10 we will also be myself and Rick turkey who's in the back be speaking a little bit later today or gonna be doing a symposium on estate planning and asset protection tomorrow at 9 o'clock in the morning Rick and I will be available for interviews the rest of the day and sweet Pacific Jay so somewhere about four floors up I believe is what it is so let's talk about the family bank strategy and what it is how many of you have had the opportunity to see at slot present on safety PBS on public broadcast he is recognized all over the country as the nation's leading expert in IRAs and in 2014 he was he presented a program that I happened to tune into and found it very interesting now first of all Edie's very animated a lot more than I am those of you have seen him know what I'm talking about he it's pretty excited and he made this bold statement he said if I could show you a way your family could be guaranteed to inherit your estate value today so the value of what it is today and hey they get inherited tax-free regardless of what happens to those investments due to market conditions in the future regardless of interest rates regardless of how much you spend would you be interested so if I could show you a way that you could give what you have to your family today without any loss without any shrinkage of it would you be interested and then of course in his exuberant way he goes who wouldn't want that right that's it slot well I've added a little bit to his quote if I could show you how to grow your safe money free from taxes without any market risk earning on average five to eight percent taking when you want tax-free distributions would you be interested let me add at slots exuberance who wouldn't want that well I got to thinking about this after it's broadcast and I got to thinking about well what if I could create my own family bank I could just you know just think of something Korea be creative be a be a creative genius and create my own family Bank what qualities would I want in my family Bank so I just I came up with seventeen qualities the first quality of course that I would want to my family bank would be tax deferred growth because you know as you're paying taxes along the way as you're growing an asset it's being whittled away and less productive and so you're not able to compound as much as you're paying taxes a long way so I want it to be tax deferred as it's growing but then when I take the money out I want it to be tax free so I've got any gain I want to be able to access a tax-free I want it also to be self fulfilling so let's just say in my family bank I want to create a account of two million dollars well what if I died the day after I start my family bank I wouldn't have had enough time to put in the two million dollars so I'd like my bank to be self fulfilling so that the two million dollars would be there so that I could pass that two million dollars to my family even though I didn't have enough time to create the two million I want to be able to do that and if I'm under 65 I want to fund it I want it to be funded for on my behalf of I became disabled the fifth quality of my family bank would be steady consistent up side only growth somewhere between five and eight percent I don't want to hit swing for the fences no home runs just single after single I want some consistency each and every year I want to make sure that any gains that I have in my family bank once they are attained I want them to be locked in and never lost due to market downturns also in my family bank I want to be able to access my money to borrow the money personally without any interest wouldn't that be nice and without any payment schedule and I would also like paying a loan back that I take out of my family bake optional and I don't want it to affect my credit score I want to be able to take out loans whenever I want - without any qualification or time delays with no one telling me no you can't have it so if I want to buy a car i buy a car for one of I avoid I bought a boat make a down payment on a home acquire real estate pay for education for my children and my grandchildren to cover the medical and emergency expenses and