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MYLES OLSON

My 3000% annual rate of return investment

1/13/2019

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How I turn $312 into $10,000 every year.

When I tell people that $312/year or $26/month equals $10,000 a year, I get a lot of skeptical looks.  Sure, it sounds too good to be true, until you learn how it works. The $10,000 isn’t going into my bank account and it’s not a lump sum.  It’s actually 5 x $2000 grants. Every year, I can host family fun events like movies, sporting events or theatre. I can also sponsor local charities and volunteer organizations. As a member I also get to attend the events that are sponsored by other policyholders.  It’s like a VIP pass to local events and opportunities to volunteer.
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How does it work? I purchased a life insurance policy with a face value of $25,000 with a 20 year paid up schedule (this is just one of many options).  That means I pay $26/month for 20 years ($6240 total) and I’m guaranteed a $10,000 death benefit, tax free, to my beneficiaries. On average, in Canada, families spend $8500 on funeral and final expenses.  So pre-paying this for my survivors and factoring extra for inflation and any other costs is responsible common sense for me. I also carry an appropriate amount of other life insurance blended between term and whole life as income replacement in case anything happens to me as the primary income earner for my family. I’ll discuss those in other blogs. I could have had a less expensive policy but I chose to use a non-medical underwriting product for simplicity. No needles, no peeing in cups.  A simple questionnaire and I’m insured.  

Where does the money come from?  A fraternal insurance company with a 140+ year history.  The key word here is fraternal. What this means is there are other benefits, far beyond the life insurance, which are extended to policyholders.  These include assistance programs, community grants, scholarships and more.

So if I max out my grant benefits every year during my 20 year payment schedule, I’ll have contributed $200,000 back into my community.  I'm also doing this to lead, by example, showing my children how to volunteer and give back, helping others experience things they may otherwise not be able to afford and protecting loved ones from unavoidable expenses when I inevitably pass away. We all die, so we might as well face it and be proactive in how we manage it. 
Contact Myles
I am a licensed insurance agent in Ontario.  This blog is my personal opinion and not to be used as financial advice.  All financial decisions should be made with the guidance of licensed financial professionals who take your personal goals and requirements into consideration. 
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    Author

    Born into a Coca-Cola family, business is in my blood. Some of my earliest memories are toying with computers in my parents offices and listening to discussions about business around the dinner table.

    ​I worked my way up through the ranks of IT, traded in server rooms for suits and finance, then sweatpants and fitness and ultimately came back to technology from the perspective of how it can impact businesses in all areas.

    As a insurance and investment advisor with Solomon Financial, I help families and businesses in Southwest Ontario structure their finances to save more money, reduce debt and pay only the minimum required amount of tax. 

    As a core member of the team at Managed Services Platform Inc. I work with Managed Services Providers around the world deliver a client experience that enhances trust and loyalty.

    View my profile on LinkedIn

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    January 2019


Telephone

519.282.9900

Email

mylesolson@gmail.com

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