Curtis Ray's Podcast

Welcome back to Ask me Anything!

Todays question comes from Becky in Tennessee.

Is there an MPI® family plan or should both me and my spouse have a plan? Can I start plans for my children?

MPI® Plans are individual plans. There is no life insurance family plan so when setting up MPI® plans for married couples or families, everyone should have one if the funds you set aside are sufficient. If you are looking to start an MPI® Children’s Account, most insurance companies require parents to own their own plan before starting one for their children. Once you determine the amount of money you can save, an MPI® Certified Advisor can review and determine the best use of your contributions.

When setting up an MPI® plan and determining who will have a plan and what funds will be allocated where, there are a few important things to consider ensuring the most efficient use of money.

Regardless of who is the insured on the account, max funding each contract available will be the best use of your money.

Thank you for watching and please send your questions to [email protected] and I will see you next week!

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For Immediate Service Call : 480.530.5840

Website: https://mympi.com/
Schedule A Call With An MPI® Advisor: https://calendly.com/mpi

Welcome back to Ask me Anything!

If you would like me to answer your question, send an email to: [email protected] and once a week I will take a question and send out a video answering it.

The question we choose to answer will be relevant and clearly top-of-mind for our MPI® family.

Today is a really exciting day. We are moving offices to much larger facility to accommodate our rapid expansion. In the last 6 months, MPI® Unlimited has gone from around 10 employees and Advisors to over 100. We are truly grateful for all the support and confidence you have provided. In the month of March alone, over $3,000,000 has been contributed by the MPI® Family into the MPI® System. $3,000,000 this month is now protected, compounding, and on its way to provide you with the absolute best retirement! What a remarkable milestone.

Because we are busy moving this week, I am going to play an oldie but goodie as your weekly financial education.  Enjoy this video titled “Why it's time to ditch your 401k and Roth IRA!”

Thank you for watching and please send your questions to [email protected] and I will see you next week!

I'm Curtis Ray, Always Be Compounding

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For Immediate Service Call : 480.530.5840

Website: https://mympi.com/
Schedule A Call With An MPI® Advisor: https://calendly.com/mpi

SHOW LESS

Welcome back to Ask me Anything!

Today’s question comes from Kari in Florida.

When Can I Get Income From My MPI® Account? Can I Retire Early?

One of the best features of MPI® is flexibility. MPI® has no age restrictions for retirement income or any distribution of your cash value, making it one of the only plans that provides retirement on YOUR terms, whether that’s early or later. Retirement day is the day you decide and has nothing to do with an arbitrary age or formula imposed by the government.

There are no penalties to access your cash value. This is quite unlike a §401(k), IRA, and many pensions, which could have restrictions, limitations, and penalties to access retirement funds before age 59 ½ or other age restriction, adding penalties to any distribution taken.

Not only does MPI® have zero strings attached to accessing YOUR money, it is also a tax-free distribution. These benefits are a substantial aspect of the MPI® plan because by having access to your cash value penalty free, the RELOC™ feature is available to accelerate your Compound Interest growth and increase your tax-free retirement income exponentially. Put it all together through MPI® and RETIREMENT FREEDOM is your reward.

Have a great week and if you'd like me to answer any questions, please email me at [email protected]

Don't end up poor!

Always Be Compounding™!

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For Immediate Service Call : 480.530.5840

Website: https://mympi.com/
Schedule A Call With An MPI® Advisor: https://calendly.com/mpi

Is MPI® protected from lawsuits like a 401k?

Similar to other retirement plans like a 401k and IRA, MPI® is one of the most legislatively protected assets you can own from lawsuits, liens, creditors, or judgements. Though state-law governs insurance, most provide legislative protection, making it difficult to sue a life insurance plan and the cash value inside. For business owners and individuals alike, the threat of a lawsuit is always on our minds because what we have taken years to build could be taken in a blink of an eye. Other assets such as cash, real estate, and other investments might not have such favorable legal protections to ensure your best and most secure future. 

Another reason I put my money into an MPI® Secure Compound Interest Account. 

Have a great week and if you'd like me to answer any questions, please email me at [email protected]

Don't end up poor!

Always Be Compounding™!

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For Immediate Service Call : 480.530.5840

Website: https://mympi.com/
Schedule A Call With An MPI® Advisor: https://calendly.com/mpi

Yes, MPI® provides tax-free retirement income! MPI® is based on a different section of tax-code: §7702(a) or the life insurance tax code. Most of us are familiar with the tax code 401(k) where you can defer taxes on retirement savings to a future date. Although §401(k) and the IRA offer immediate tax advantages, my research analyzing benefits of a plan indicates that MPI® provides even better tax advantages for retirement income, long-term wealth accumulation and legacy planning.

Because MPI® is a post-tax system, like a Roth IRA, you will make contributions from income that you have paid tax on. Because you’ve already paid tax going in, MPI® distributions for retirement income (and other purposes) is 100% tax-free through the participating loan feature. This income stream is also free from capital gains tax on all the compounding growth of your money. In addition, your death benefit can be 100% tax free to your beneficiary providing the clearest path to generational wealth transfer.

Another great advantage of MPI® is the high contribution limits relative to income and no access penalties of your cash value. For example, some MPI® clients, deposit hundreds of thousands of dollars of post-tax money per year, taking advantage of getting as much of their money into a tax-free retirement plan. This makes MPI® one of the only plans available to provide a path to early tax-free retirement. For those willing  to save substantially at a young age in order have the option to retire early, MPI® is the plan for you!

Furthermore, with government spending continuously increasing and unpredictable, and likely rising taxes, it is very important to eliminate the variable of deferred taxes by depositing into a post-tax system now. Deferring taxes might seem like a good idea,  but it puts you at significant risk of unpredictable, higher taxes in the future, that could seriously erode retirement income.

As you can see, MPI® has many more advantages than the §401(k) when comparing both long-term. And although similar advantages of the Roth IRA in providing tax-free retirement income, MPI® eliminates the low contribution limit and access penalties so you can retirement at the age you want!

Have a great week and if you'd like me to answer any questions, please email me at [email protected]

Don't end up poor!

I'm Curtis Ray, Always Be Compounding™!

Website: https://mympi.com/
Schedule A Call With An MPI® Specialist: https://calendly.com/mpi

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"Does MPI® Have Living Benefits?"

Yes, MPI® has the feature called Living Benefits. If you were to get sick with chronic or terminal illness, you can withdraw an advance on your life insurance to pay for qualified medical expenses. Families are protected from financial devastation stemming from health scares such as cancer, heart attack, stroke, and various other severe illnesses. To qualify for Living Benefits, a medical underwriting might be required to determine the severity of the illness.

We all have a family member that comes to mind that has had a frightening medical diagnosis, me included. My wife was diagnosed with cancer in 2011 bringing to bear a very trying time, incurring mounds of medical bills in the process. Thankfully the evolution of modern medicine prevailed, and she has been cancer-free for seven years now. Though my business was producing good income making it possible to cover all the medical expenses, that is an anomaly. Most families in our country are not so blessed. That is why inside the MPI® plan, no matter your income level, if you were to an illness that met the criteria of LIVING BENEFITS , you could access this benefit to cover excessive medical bills thereby preserving your financial stability.

Although LIVING BENEFITS are not discussed often, they are another layer of protection to secure your best future!

Have a great week and if you'd like me to answer any questions, please email me at [email protected]

Don't end up poor!

I'm Curtis Ray, Always Be Compounding™!

Website: https://mympi.com/
Schedule A Call With An MPI® Specialist: https://calendly.com/mpi

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"What Are The Fees Inside of MPI®?"

Tell me if this sounds familiar: MPI® is a very expensive life insurance plan!! Or “you should never combine life insurance and investments in the same plan!” It sounds familiar because we’ve all heard it countless times from influencers such as Dave Ramsey as well as most financial advisors! The reason I adamantly disagree is because I have done the math and the math says MPI® has some of the lowest possible management fees of any retirement plan. Who is accurate? If you’ve ever watched my videos, then you know my mantra is: lets' show the math because math never lies! There’s no need to rely on assertions without proof - especially when many of these advisors income depends on trusting them without proof.

By knowing the difference between Compounding fees of typical managed investments and the decreasing fees within a long-term MPI® insurance plan, you can save yourself tens- or hundreds- of thousands of dollars during your lifetime. That’s YOUR money, back in YOUR pocket, to secure and accelerate your best retirement income potential. Financial advisors love to label insurance-based plans as universally “expensive” while charging up to 100x more long term. Further, few take the time to understand MPI® and the long-term benefits of decreasing fees.

I think you should get the full benefit from your earnings and I’m willing to show you the math. Compare your traditional plan with MPI® apples-to-apples for the same period, the life of your plan, and you will see what I see. A plan that looks good short-term and one that is actually best long-term. I hope this has helped give you confidence in why MPI® is a much better long-term plan knowing that tens- or hundreds- of thousands of less fees is one of the many reasons MPI® can produce far superior compound results over the traditional plans.

Have a great week and if you'd like me to answer any questions, please email me at [email protected]

Don't end up poor!

I'm Curtis Ray, Always Be Compounding™!

Website: https://mympi.com/
Schedule A Call With An MPI® Specialist: https://calendly.com/mpi

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Send any of your financial questions to my email: [email protected]

Today’s question is "What is Permanent Life Insurance?"

MPI® is a permanent life insurance contract, meaning it has no expiration date. Unlike term insurance, it is 100% guaranteed to pay out to your spouse, kids, or whomever you choose as a beneficiary when you pass away if the policy remains in force.

This guarantees, that no matter your age at death, generational wealth is achieved. Various financial influencers suggest permanent insurance is ‘expensive’ and advise to “buy term, invest the rest” as a more cost-effective strategy. However, that limited philosophy is also falsely premised that by the time we are 65 (retirement age), we are self-insured. Of the people I know, few fall into a category of financial prosperity at death, much less during life. Add to this that few actually buy term insurance and invest the difference. Therefore, it is a short-sighted, linear approach to financial security. Though the cost of insurance does increase over time, the compounding mechanism outpaces the natural effect of inflation. It’s never about how much you pay alone, but how much you grow – meaning the value you receive. Many financial influencers suggest by the time you get to your 60s and 70s your cost of insurance will diminish your cash value significantly, but this is just not true. The math doesn’t support this statement.

Inside of the MPI® system, the cost of insurance is built on a concept called Annual Renewable Term (ART). This type of insurance varies in cost every year according to your age. As you get older, the cost traditionally increases. Many people look at this as a drawback however MPI® provides a solution to this increase in cost of insurance. Through the exclusive RELOC™ feature of the MPI® system, you can earn an additional 2-4% interest on average. This additional Compound Interest can offset the increase in insurance cost while also increasing your Compound Interest potential. This feature can minimize the risk of insurance becoming too expensive as we get older.

As an example, here is the projected cost of insurance for a 35-year-old, healthy male, contributing $500/month into the MPI® account until retirement and passing away at age 85. MPI® is a max-funded Option B contract, which means your MPI® plan will purchase the lowest amount of insurance required by the IRS tax code section 7702(a) to keep your costs as low as legally possible and still receive all the features and benefits available. The insurance amount in this example is around $213,000 for the $500/month contribution. Insurance contracts are proportional, meaning if this same person doubles their contribution, the required insurance also doubles ($1,000/month requires around $426,000 insurance). Half the contributions or $250/month would require half the life insurance or around $106,500). Age and health impact the amount of insurance required; furthermore, your ongoing health effects the performance of your MPI® Plan.

I'm Curtis Ray, Always Be Compounding™!

Website: https://mympi.com/
Schedule A Call With An MPI® Specialist: https://calendly.com/mpi

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Today’s question comes from Josh in California:
"Can You Do An Overview of the Benefits of My MPI® Plan?"

I'm Curtis Ray, Always Be Compounding™!

Website: https://mympi.com/
Schedule A Call With An MPI® Specialist: https://calendly.com/mpi

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Today’s question comes from Hattie from Arizona:
 
"What is the Minimum Commitment to MPI® and What is The Most I Can Deposit Into MPI® Per Year?
 
This is a common question I receive from clients. Unfortunately, there is also a lot of scarcity mindset in the world of personal finance, because people are taught to focus on the minimum instead of learning how to maximize their money. Compound Interest is money working for you by making more money from its own earnings; it is also the simplest way to create wealth. Changing the thought to,“ how much money can I deposit and get it working for me as soon as possible. This shift in mindset will give you a better chance for the retirement you have dreamed of instead of the least you can actually afford.
 
In the MPI® system, there is a minimum commitment to start the plan and achieve full efficiency of your money. To determine your minimum commitment level, here are some examples:

If you prefer monthly payments: multiply your Age by 8.

Therefore, if you are 30 years old the result is: 30 x 8 = $240 per month minimum commitment.

To make quarterly payments, multiply your Age by 24, which is 30  x 24 = $720 per quarter

For Bi-annual payments, multiply your Age by 48. Therefore,  30 x 48 = $1440 deposited every six months.

Finally, if you want to make annual payments, multiply your Age by 96 or 30 x 96= $2880 per year.

These amounts or more will produce the same compounding efficiency of your money. For children’s policies the commitment can be as low as $75/mo.
 
Those are the minimum commitments to begin your very own MPI® account. This minimum commitment for the first two years is critical, after which  the policy becomes much more flexible. If you cannot commit to these amounts, then it is best to save until you can achieve the minimum commitment level.

As for the maximum, a significant benefit of MPI® versus an IRA or 401k are the contribution limits. Upon qualifying for an MPI® plan, you have a maximum contribution level around 100% of your annual income. Therefore if you make $50,000 a year, your maximum annual contribution limit will be around $50,000.  If you make $1,000,000 a year, your maximum contribution can be up to $1,000,000. MPI® is one of the few financial vehicles where you can contribute a large amount of post-tax money.

Like a Roth IRA, you have tax-free distributions available – But unlike a Roth, they can be at any age, for any reason without penalty, restriction, or condition. This is important because it means MPI® is one of the only retirement vehicles that provide a path to early retirement if you have the discipline to save early to then generate a substantial tax-free retirement income.

I hope this provided motivation and excitement that your dream retirement is yours when you commit and begin to think “how can I get the most money working for me.”

Thank you for the great question!
 
Save this email text and video, so the next time you hear someone get this wrong, you can help them understand what is right!
 
Send any of your questions to [email protected].

I'm Curtis Ray, Always Be Compounding™!

Website: https://mympi.com/
Schedule A Call With An MPI® Specialist: https://calendly.com/mpi

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