Checkmate!
3 Things The Game of Chess Taught Me About Cash Value Life Insurance
Chess Strategies that applies to both Chess and Life Insurance
The first thing the game of chess taught me about Cash Value Life Insurance is mindset is everything! The mindset of a chess player is that I am going to crush whomever my opponent is going to be. I have to program my mind that whatever the situation, wherever the game leads, whatever strategy or changes I’ll make in the middle of the game, I will win! Bobby Fisher, one of America’s best chess players stated it this way: “Chess is war over the board. The object is to crush the opponent’s mind”. In chess, the mindset is to never lose, never retreat and attack, attack, attack! As this relates to Life Insurance, I’ve learned to position my money in the right policy whereby, whatever happens in the economy, whatever changes are made to the tax laws, whatever happens in the stock market, I will not lose any money! My success is guaranteed. When you transfer all the risk, fund the right policy, select the right insurance company, the company will make a contract with you to share its profits and its history of earning money with you. The good companies have over 100 years of delivering results! In the life insurance world, this form of attack is called the Dividend, which when declared, means I will share my profits with you. Code word, you are guaranteed to make money, Code word, I got history of delivering receipts! Code word, you can’t lose the game when the game is rigged in your favor! Cash value life insurance is a lot like an ATM machine. The more deposits you put in, the more withdrawals you can take out. Now that’s an attack everyone should be allocating at least 10% of their income into.
The second thing the game of chess has taught me about Cash Value Life Insurance is to dominate the Center of the board. A good chess player plays his moves according to a good strategy which helps him make good moves. In dominating the center of the board, you want to control the center by developing your pieces, get your king to safety which means castling and look for opportunities where your pieces can play on both sides of the board. In applying this concept to Cash Value Life Insurance, dominating the center of the board means building a huge cash value account that no one can touch but you with liquidity, flexibility, options, tax deferred accumulation and tax free distribution. Developing your pieces is associated with positing your cash to take advantage of opportunities when the stock market falls, when real estate drops or having cash on hand to start a business, fund the things you are passionate about or making an investment in your most valuable asset which is you. Finally, when the king is safe, Cash Value Life Insurance protects your cash in the event that taxes increase, inflation runs rampant and gives you a built in contingency plan that protects your money.
Lastly, what the game of chess has taught me about Cash Value Life Insurance is the end game strategy, which is the most important. You can do all the right things in chess as far as having the right mindset, taking control of the center of the board, developing your pieces, getting your king to safety and attacking and end up at the end game and lose because you didn’t have the right strategy to win. When I learned the game of chess, my instructor taught me that most games are won in the end because people have not learned end game strategies to win. I can recall doing end game strategies with a rook and king, checkmate with a rook and knight, checkmate with two bishops and my favorite checkmate with king and pawn (s). My strategy when I played the good chess players was to get to the endgame because most wouldn’t know how to win. In applying this concept to getting to the end game with Cash value life insurance, the end game here is at retirement. Cash Value Life Insurance provides you with options for tax free income, money to fund long term care expenses, permission slip to spend other assets, leave money for your favorite charity, replace income to your family members and since Cash Value have no 1099, how about you driving up to the Social Security Administration Building to pick up your social security check in your brand new Bentley. You can‘t lose with the Cash Value Life Insurance I use…Get some!
Jeffrey Moore is the founder and CEO of Moore Financial Solutions, a company committed to financial strategy, literacy and coaching. Jeff is on a mission to help 5,000 families build a moat of financial protection and build enormous Cash Value Life Insurance accounts to take advantage of opportunities in real estate, stocks, businesses, while building an inheritance of billions of dollars to provide economic sustainability for the next generation. He can be reached at (856) 642–4072