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Financial Educator Explains How Putting Your Money In an Insurance Policy Can Make You Rich

Make your money work for you.

Rapper Waka Flocka Flame claims that figuring out the financial habits of the wealthy changed his life and now he won't look back on the traditional route.

When you learn the financial habits of the wealthy, you should try to incorporate them into your own life. We know it's easier said than done. That's why insurance strategist @fillyourpockets posted a TikTok breaking down Waka's money strategy so that it's easier to understand. Once you watch it, you'll question everything you have ever learned. 

Ryan explains that banks take advantage of the money people put in them. They take that money and put in a bank-owned life insurance policy that earns compounding interest, and then loan out that money which earns them more interest. 

Instead of going this traditional route, Waka Flocka puts his money in his own life insurance policy and takes loans from the policy to put towards investments or retirement. 

There are lots of benefits to going this route. You won't be taxed on the money you earn from interest, your money will go to loved ones when you pass away, you'll have benefits if you ever become terminally sick and more.

"Also, BUY LIFE INSURANCE FOR YOUR KIDS! It's so much cheaper when they're babies and they can borrow against it for college," TikTok user  @youroldpalmeg wrote in the comments. 

Even if you don't have millions, you can talk to a financial advisor and take small steps to help you reach your goals.