- Shopping Bag ( 0 items )
Posted May 20, 2003
I think this book is one of the best on the subject of wealth creation and preservation. Although I am living in Kuwait, there is no government tax at death, yet these techniques are still the best and also my best regards to Barry Kaye. He is indeed a legend of insurance industry.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.
Posted July 14, 2002
I think this book is very misleading and very biased to promote insurance products. Most of the projections were based on illustrations that are within legal bounds but unrealistic in today's market. For example, the book notes of a technique to borrow at effectively 1/2 percent by purchasing a single payment life insurance policy by borrowing the funds for the premium at 5%. First of all, even in today's low interest market, it is impossible to guarranty a fixed 5% loan rate until death. Secondly, the price of the life insurance is based on an internal rate of return of 12% (maximum allowed by law), also not guarranteed--following below this rate return will force the policy holder to pay additional amount of premiums to keep it intact. Third, it makes no comment that these figures are not guarranteed. The entire book appears to have similar assumptions which aren't guarranteed and fail to to mention it isn't guarranteed. Rule of thumb with reading any money oriented books--'If it sounds too good to be true...'Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.