What Would the Rockefellers Do?

by Garrett B. Gunderson

Would you rather earn interest than pay it, and eliminate the necessity of paying fees to banks and jumping through hoops to get loans? Are you frustrated with being over-taxed and/or being dependent on a volatile stock market? Do you suspect that the ultra-wealthy play by a different set of rules than you do, and that their secrets have been kept just out of your reach? What would it mean to you and your family if you knew these rules to play by them too?

Genres: Finance, Business, Personal Finance, Money, Nonfiction, Self Help, Buisness

130 pages, Paperback

Published April 3, 2018

Reviews

[Travis · Rating 3 out of 5]

Anyone considering purchasing this book should first know that it is NOT a book about the Rockefellers. They are mentioned a few times throughout the book but that is not what this book is truly about. This book is about whole life insurance, family trusts and cash flow banking. I highly recommend this book for anyone interested in those topics. If you are interested in the Rockefellers, look elsewhere.

I knew little to nothing about whole life insurance before reading this book and I now have a solid understanding of the way it works and how it can be utilized to create wealth. The book can be a bit repetitive at times but overall it's a good read and there is no doubt that these guys know what they are talking about. Some of their personal finance strategies pertaining to saving and allocating are a bit out there and should be carefully thought through before implementing.

Overall, this is a good book and I am glad they wrote it. For someone looking to learn more about these topics it is a very insightful read.

[Ronald · Rating 3 out of 5]

3.5 rating because it’s a good book I’ve read at a interesting time.

Ultimate spoiler of the book is to get whole life insurance, and put a lot of money into that. It protects you, has tax advantages, and has a lot of great benefits that many people overlook.

I admit when I saw this was about life insurance, I was a little skeptical. After some time, I was seeing life insurance stuff, including it being mentioned in Tony Robbin’s Money Master the Game. I decided to give the book a further try, and with an open mind, I was able to see the benefits of this. I’m still a bit skeptical, but I have a clearer understanding of life insurance. I’ll be doing more research on this, and see my next steps from there

EDIT: I saw another review, and had to agree and mention in mine as well: it gets repetitive. The entire solution to every question in the book is his life insurance system called the cash flow insurance. Guess what has this benefit? Yes cash flow insurance. It gets old, but doesn’t detract from what I’m learning

[Cara · Rating 3 out of 5]

The idea here is to set up a family trust, and then whenever any descendent wants to borrow money for something you approve of (ex. education or starting a business), the trustees approve the loan and take out a life insurance policy on the person. That way, even if they don’t pay it back, the money is still there for future generations. That seems pretty smart.

Most of the book is about using overpaid whole life insurance policies as an investment vehicle that allows you to borrow money from yourself and avoid taxes. It’s a bit repetitive, but I still found it interesting. It matches the advice of another book I read on this topic, so I guess this is a real thing.

I probably wouldn’t have bought this book if I had read its Amazon reviews first, but overall, I’m not sorry I bought it. It seems like there’s a lot to be said for this strategy, and as a single person with no dependents, I definitely wouldn’t have been thinking about whole life insurance otherwise.

[Kassandra · Rating 4 out of 5]

It was A LOT of repetition. On the flip side, most of what I read I'd heard before from licensed insurance agents. I've also spoken with people who knew about this particular kind of insurance but were not insurance people. it's funny how the older generation recognizes this opportunity, and the younger one pupus it. I would highly suggest reading this and then speaking with a licensed financial advisor or insurance agent. This is not something to sniff at, and you will be missing out if you do not follow through with this and learn more about it.

[Leilani Martin · Rating 3 out of 5]

I’m torn... I’m unsure whether I found the information useful, or whether I was on the receiving end of a sales pitch.

A lot of repetition.

It’s a very interesting idea, I’ll give it that.

[Liam Walter · Rating 3 out of 5]

The concept of a family trust and constitution is cool (this is only about 10% of the book)

The remainder is about wholly funded life insurance.

It only makes sense to do this if you’re a bad investor to be honest or need a life insurance policy for your family anyways.

Besides that you’re better off investing in the s&p500 or almost any other investment and taking a loan out of your investments when you need to use it.

Summary of the book can be invest and then borrow against your assets and use wholly funded life insurance to take out loans.

[Monty Bertolas · Rating 3 out of 5]

Was I bored? Yes. But I yearn to earn 🤪

[Danyielle M. · Rating 5 out of 5]

A Must Read for Young Adults and anyone who wants to empower themselves or next generations...

Insightful and very informative for anyone who has never been introduced to or considered the strategies outlined in this book. I think it's Great for beginners, reinforces knowledge and helps one share these concepts with family, friends, and those you may want to serve! If a person or family is able, The Statement of Purpose or something similar should be a part of their legacy! Thanks so much for sharing!

[Mark Manderson · Rating 5 out of 5]

Whole life insurance explanation

I'd never heard anything other than stay away from whole life insurance but this break down has me revisiting what I've been told.

It was a good read.
Here are my takeaways:
- Rather than leaving wealth to the next generation, you can leave them opportunity. You can make it so your family doesn’t have to start over every generation at zero, and instead is able to leverage your legacy to get a foot up in the world.
- If you utilize Cash Flow Insurance, and get everything properly set up, you’ll be able to pay for your kids’ college, pay off debt, finance your home or car, start a business, have an emergency fund—and earn interest the whole time.
- Cash Flow Insurance has three key points: 1. It safeguards your wealth. 2. It helps you grow your money and increase your cash flow. 3. It helps you enjoy your money today and tomorrow.
- Overfunding is done through something called paid-up additions. (There are limits to what can over fund so ask before set it up.)
- Interview people regularly; do interviews to stay sharp and inventive and invite the best to speak at events and stay at your house to further the conversation and build more wealth.
Best Questions to get to know someone:
- What is the single greatest lesson you have learned in your life?
- If you could have a conversation with yourself ten years ago, knowing what you know now, what would you say?
- What are the most important things in your life and business?
- What are the things that work in your life and why?
- What do you read and whom have you studied?
- Who have been your mentors?
- What are your daily rituals that lead to success?

[Srikanth Nutigattu · Rating 2 out of 5]

First chapter shares really good midset and second introduces the financial tool. The rest of the book is just a filler, where the author goes on an on to convence that ONE tool is better. Seems like a one trick pony which could very well been a blog post, but here is a book. It is a thin book, but felt it didnt deserve the pages. It could have been just few pages. Sad that the expectations of uncovering different strategies and tools was not met.

ps: Dont want to be a spoiler by revealing what the financial tool the autor was mentioning.

[Alex Herder · Rating 4 out of 5]

If you are interested in infinite banking, this is *much* better introduction than the more popular Becoming Your Own Banker. It does a better job of explaining the benefits of using dividend-paying whole life insurance as an asset management/cash flow system, and it does it without fringey anti-government and religious language.

I'm still on the fence about implementing one of these systems for myself, but this book is a great introduction to the topic and you probably don't need to read anything else to understand it. If you are interested in going into way more detail about the pros and cons of such a system, check out this Reddit thread: https://www.reddit.com/r/slatestarcod...

[Elizabeth Thomas · Rating 4 out of 5]

This is the second book I have read about using whole life insurance as an investment vehicle, and it is far superior to the first in that it actually explains the strategy it is trying to sell. I came away with understanding. The drawback, however, is its length. This is a short book, but it is repetitive and a good chunk of it could be cut out without loss of meaningful content.

Favorite part, by the way: He is describing money personality types, and in the one that describes me, "Avoider," he says, "Avoiders tend not to want to deal with money, ever. ... If this describes you, congratulations for reading this book ..." I felt like I deserved that!

[Zachary Wrightsman · Rating 5 out of 5]

I really enjoyed this book. Although he does tell you that you should set up a whole life insurance policy, unfortunately he doesn’t tell you how it should be set up to benefit you and kinda uses a scare tactic that some agents can take advantage of you which if this is your first time hearing about whole life insurance as it is mine it doesn’t make me feel very confident in investing in one. There is a lot of ground covered in here I think it’s very informational. It felt a little over my head as well in some parts. All in all a good book and I would recommend.

[Eva Baker · Rating 4 out of 5]

Interesting financial strategy that I will explore more, with my own numbers. I loved the list of the author's life principles in the back of the book. I've subtracted one star (generously) because there's nothing in the book about the downsides of his financial strategy, and that, along with a plug for the author's planning services, makes the book an infomercial.

[K. Isaure · Rating 5 out of 5]

What Would the Rockefellers Do? Lessons and Key Takeaways

1. Keep the money together. Don’t use your money stupid. Use your money strategically to outlast your parents if something happens to them.
2. Design trusts that direct how money can and cannot be spent. Set up a person to oversee your writing career and get publishing rights if something happens to you such as you becoming too ill. Ask your parents for help in this regard. Or a lawyer you can trust. StTe how you want your poetry to be published as well as your journals and stick with the plan after it is set up, who gets copyright ownership of something happens to you?
3. And pass on your values to the next generation so that your vision doesn’t stop with you. My vision is to create well researched articles and novels that teach people and allow them to grow and thrive without compromising their values or ideals and a novel that makes the, pause and reflect on how they can shape their communities and their countries in a positive and uplifting way.
4. Because the Rockefellers had a method to perpetuate and preserve wealth, rather than just handing it down to each generation to start over again. The Rockefellers kept their wealth centralized, which allowed their family to become stronger. Have a method to preserve and maintain your savings and money. Increase it by a certain amount each month. Do not touch it. Just ignore it. Let your money build up to great satisfactory levels and live very simply. Remember you are saving for a rainy day. You know what that means to you.

Biggest Takeaway:

Your wealth in the family is up to you and those you trust. Maintain your money so it will sustain you for years to come.

Quote I’m Summary:

“Maintain your simple lifestyle without going into savings and save like no one else now so that your savings can sustain you like no one else later.”

[Billy Staffiles · Rating 4 out of 5]

Despite its title, "What Would the Rockefellers Do?" is focusing on whole life insurance, family trusts, and cash flow banking rather than the tales of vast estates. Garrett B. Gunderson cleverly uses the Rockefeller name to introduce financial strategies often reserved for the wealthy.
Gunderson's approach is unconventional, presenting whole life insurance as more than just a death benefit. He explores its potential as an investment vehicle with tax advantages, particularly in cash flow banking. The strategy involves creating a family trust using overfunded life insurance policies, allowing descendants to borrow under strict conditions.
I found the book's perspective on using insurance for wealth building enlightening and appreciated its clarity in explaining a sustainable model for wealth preservation. However, I remain somewhat skeptical about the complexities of using insurance as an investment tool. At times, the book becomes repetitive and seems to present life insurance as a one-size-fits-all solution, which may not apply to every financial situation.
While "What Would the Rockefellers Do?" serves as an educational primer for alternative wealth-building strategies, its strong advocacy for life insurance as a universal solution calls for a cautious approach. As a reader, I'd encourage others to engage with the material critically and balance the advice with their personal financial realities.
In conclusion, the book offers valuable insights into using whole life insurance and family trusts for wealth strategy. However, it's essential to evaluate and adapt its teachings to individual circumstances. As with any financial advice, personalized application and further research are key.

[Lore BonMD · Rating 4 out of 5]

Garrett Gunderson uses the story of Vanderbilt and Rockefellers to illustrate maintaining generational wealth and had the former essentially spent all the wealth and the latter kept it and was able to be passed on through generations. We learn about the Rockefeller method which was to keep the money consolidated. The author describes his own humble beginnings and his personal growth. He takes a great portion of the book to describe Cash flow Insurance Whole Permanent life insurance and how it offers tax protection, ability to use case value, returns are tax deferred. He uses various examples of taking a loan against the cash value tax free. He mentioned that it is a tool for protection against creditors, earn dividends yearly, death benefit is tax free. Say you have mortgage on house paid off. You can use the death benefit as a collateral to get a reverse mortgage. When you die the death benefit can pay off the reverse mortgage. He delves into estate planning close to the end but it’s very short. I did like the idea of having financial freedom to pursue your passions and the very last chapter where he elaborated on statement of purpose. The book had some redundancy, however, for someone with limited financial knowledge this would work well and be very useful.

[Ethan Boyce · Rating 1 out of 5]

Let me save you the time. He's an insurance salesman and this is a sales pitch from a mediocre inspirational speaker. This book has nothing to do with how the Rockefellers created a dynasty but it has everything to do with how if you go to his sites or buy his classes or even better buy a life insurance policy with companies he's invested in, then you can take out loans from the insurance company against your policy instead of with a bank.

Every chapter is personal anecdote followed by 'borrow against a whole life insurance policy'. Pick one chapter and it's practically the same as the rest.

I'm not sure if this is a good idea, but I would definitely talk to a finance professional that isn't obviously trying to personally benefit from this advice before buying a policy. I hope this saves you from 138 pages.

[Jordan Tyler · Rating 2 out of 5]

Really a 150 page marketing pitch for whole life insurance. “The Rockefeller Method” is primarily used as a buzz phrase to validate use of cash flow insurance without going into any depth on the Rockefeller family’s actual approach to wealth preservation or philosophy. Gunderson goes on to disavow proven, sound financial principles on investing, saving, and spending in order to prop up his claim that you can buy your net worth with whole life insurance, then borrow against that cash value to fund your lifestyle.

The only valuable part of this book was the last chapter, in which the author discusses instilling his values/vision in his heirs and specifying them in the family trust’s statement of purpose.

[Augusto E. Letona · Rating 5 out of 5]

What the Rich know

As I have finally become enlightened at age 55, I feel like Neo in the Matrix. I finally see the truth.
Naked and real.
The Power of Zero is real. Don't lose money and see how you truely compound. Have a living or death benefit on top of that is priceless.
Read books like this people. ..unschackel your minds and unlearn whatever financial information you have been told. Good Luck

[Karen Peyton · Rating 5 out of 5]

A very EYE OPENING read in the world of finance. I learned things about banking, Interest, compounding growth, dividends, life insurance, retirement savings vehicles, and Taxation that made me mad at first. Once the anger wore off, I was so happy I now knew. It is a must-read if you want a better life and to have control of the money you make.
I am now reading Becoming Your Own Banker, by R. Nelson Nash, the father of Infinite Banking.

[David Tsymbal · Rating 5 out of 5]

A wonderful finance book, it compares the Rockefellers with the Vanderbilt's and how the different families protected their wealth. It also shows why the Rockefellers are still around with a massive fortune as opposed to the Vanderbilt's who lost almost all of it. Through wills and trusts and Life Insurance the Rockefellers have instituted a fortune that is here to stay. Highly recommend reading this book.

[Andre · Rating 2 out of 5]

This is really a book about Cashflow Banking or the Infinite Banking Concept (IBC). But you should really read Nelson Nash's Becoming Your Own Banker instead. He originated the idea and explains it better.

I was hoping for more discussion about the trusts and financial education angle, but that is barely touched upon other than a brief mention.

[Ian McGaffey · Rating 3 out of 5]

I liked the strategy that the author provides in this book, but I feel that it is presented to the exclusion of other strategies. It is also based on a high cashflow. This doesn't exist for most people in today's world. That being said I appreciate this strategy and I am considering how to make that cashflow happen. I will also explore other strategies to build wealth along the way.

[Dawn Averett]

I loved this book. It is eye opening to see other ways to invest, protect and pass wealth on to my daughter. In the past I have lost money with my retirement plan when I took it out to help my mother before she passed away. Had I known about other programs out there, I could have done more. Definitely would recommend this book.

[Ismael · Rating 5 out of 5]

Insightful read outlining how to leverage Whole Life Insurance while specifying the benefits i.e. tax benefits, life/death benefit and trust structuring. This book definitely moved some furniture around for me mentally.

Highly recommend for those considering wealth management beyond yourself. Excellent.

[Katie Salmon · Rating 5 out of 5]

This is a great book! My fiancé recommended it to me, and I was worried it wouldn’t be my cup of tea. I was completely wrong. This book is very informative and well-written. I learned so much and truly enjoyed reading it. I feel like I broadened my financial knowledge by reading this book. I highly recommend it to anyone looking for tips on how to invest their money and grow their wealth.

[Taijah Stone · Rating 3 out of 5]

This book provides a solid introduction to Cash Flow Insurance, offering valuable insights for those interested in the concept. While the information is useful, some points feel repetitive, making certain sections drag a bit. However, if you’re new to the topic, you’ll likely find helpful takeaways. Overall, a good read for anyone looking to understand the basics of Cash Flow Insurance.

[KimY · Rating 1 out of 5]

Read a summary after an hour in cause it was a lot of nothing mixed in what the method was actually. Which is life insurance trusts and hiring a team to manage wealth. I think most ppl could figure that out if they made an amount that actually makes a difference. And you would have an advisor already lol.

[Rhonda Maza · Rating 2 out of 5]

It is an advertisement for purchasing whole life insurance. The only good thing was to keep the money centralized in a trust so that it can be borrowed instead of a bank which interest is lower and is paid to the nest egg.