2017 1112 – Economic Warrior / Barry James Dyke – Robert Castiglione, Founder of The Leap System – [VIDEO-YouTube-41:52]

  • Hawaii
  • State of Financial Planning
  • Bob’s Background
    • 1966 – Graduated NYU, 1966 – Played 5 years of Baseball (Pitcher), 1971 – wanted to be an ecomonist on Wall Street, retired now. 
  • What made you so bold?
  • 5 – Problems now
    • Math is not Money
  • Barry James Dyke – student of Robert Castiglione
  • 8 – Are people misled?
    • Compound Interest, reinvesting in their Mutual Funds, 
  • 9 – “Eroding Factors of the World”
  • 11 – People haven’t been trained.
  • 11 – 401k – Straight Jacket
  • 12 – Institutions – 4 rules
  • 13 – people need to get trained on how money works 
  • 13 – Einstein
    • W=MxV2 – Wealth = Money times Velocity Squared – Almost the same as Einstein Relativity Theory
  • LEAP – “Rule Based System”
  • Best Long-Term Plan is a series of short term plans
  • 18 – What is the perfect financial plan?
    • One that works under every single possible scenario. ex. disability, pre-mature death, lawsuits, natural disasters, cars, market fluctuations – take advantage of it, 
    • Full Replacement Value
    • Tax-Free, Tax-Advantages
    • People overpay their taxes
  • 24 – money needs to be moving 
  • 25 – Everybody by the time they retire should be a millionaire – even low income earners
    • people only need 30 cents an hour for their life to become a millionaire
    • Todays average American has $50,000 in cash
    • Rich people know about the velocity of money. Everybody needs to be using these strategies. People are being taught wrong.
    • Financial Planning today is like Communism.
  • Government, 
  • American buy more junk than anybody else in the world.
  • 29 – not trained to be capitalists.
  • 29 – studies of country’s happiness – American is not happy
  • house buying
  • 30 – Save 15% – Live off of 85%
  • Velocity of Money Multiplier
  • Lost Opportunity Cost – Don’t pay off your debt
  • 32 – you came to the conclusion that Life Insurance is the Best place to put money.  vs Dave Ramsey
  • What’s the Perfect Plan?  Whole Life Insurance. Only one to Guarantee Success. It doesn’t have the highest rate of return.
    • Disability (Waiver of Premium), Death Benefit – Tax-free, Lawsuit proof, 4% rate of return tax-free – better than saving or bonds,
    • Whole Life doesn’t lock up your money, Tax-free dividend has to be paid out in cash, not reinvested – can go towards paying other insurance policies, car insurance, home insurance
      • [Bonk: 
    • Cash Value – Can be withdrawn, invested anywhere you want. movable / flexible, not a static product, no penalties for withdrawal. 
    • 36:30 – [Bonk: What does he mean by this? is he referring to the Policy Loan or a Whole Life Policy in general? or something else?  –  “There are no fees, or charges or expenses on a Whole Life Policy like a 401ks or like Mutual Funds. There’s no costs occuring.”
    • So, no matter what is happening you are happy all the time.
    • 38 – Most people die before 65
    • rate of return – at 64, Tax-free – 10-11-12% – [Bonk: Explore]
    • vs Japan, Norwegian, Harvard
    • Maslow’s Hierarchy of Needs