Die Rich 2: The Absolute Bottom Line on Wealth Creation and Preservation [Hardcover]

Barry Kaye (Author)

Book Description

ISBN-10: 1930286007 | ISBN-13: 978-1930286009 | Publication Date: April 1, 2000

The absolute bottom line on wealth creation and preservation. The first financial book for the new millenium.

Editorial Reviews

About the Author

Barry Kaye is the author of six books on the subject of life insurance and estate tax planning. For over 38 years the rich have turned to Barry Kaye to help protect their wealth. Noted for his insight, he is one of America's leading authorities on wealth creation, preservation and optimization. A Chartered Life Underwriter (CLU), who is listed in "Who's Who In America", he is the originator of many Last to Die concepts and a foremost expert on estate tax cost discounting. Mr. Kaye has served on the California Senate Advisory Committee on Life Insurance. He is a member of The President's Council of The American College. He was the founder of Wealth Creation Centers and Barry Kaye Associates Insurance Services, which recently became a Member of National Financial Partners. The company has offices in Boca Raton, New York and Los Angeles.

Product Details

• Hardcover: 320 pages
• Publisher: Fha Pr (April 1, 2000)
• Language: English
• ISBN-10: 1930286007
• ISBN-13: 978-1930286009
• Product Dimensions: 9.1 x 6.1 x 1.2 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #1,035,211 in Books (See Top 100 in Books)
  • #62 in Books > Business & Investing > Industries & Professions > Insurance > Life

Customer Reviews

Most Helpful Customer Reviews

14 of 14 people found the following review helpful:

5.0 out of 5 stars Estate Tax Planning Using Life Insurance for Wealthy People, September 6, 2000

By 

Donald Mitchell "Jesus Loves You!" (Thanks for Providing My Reviews over 109,000 Helpful Votes Globally) - See all my reviews
(VINE VOICE)    (HALL OF FAME REVIEWER)    (TOP 100 REVIEWER)   

This review is from: Die Rich 2: The Absolute Bottom Line on Wealth Creation and Preservation (Hardcover)

If you are 60 or over and are worth over two million dollars, you will probably get ideas for estate tax planning from this book that your estate planning lawyer will not think of. If you are not that old or not that wealthy, the book will probably not be as useful for you. However, if you plan to be worth over two million by the time you are 60, you will find some ideas to help you get there.

One word of caution is appropriate for you here that the book does not discuss. Congress is trying to pass revisions in estate taxes that would eliminate most of the problems for which solutions are described in the book. President Clinton has vetoed that legislation recently. Keep tracking what is going on with estate taxes in Congress. Otherwise, you may be working on solving some problems that you don't have.

As a CLU (Chartered Life Underwriter) with 38 years of experience, Mr. Kaye knows all of the tricks -- certainly he knows more than any life insurance agent who has ever called on me. He also describes strategies that I have not heard from estate planners, as well. They seem sound, based on the data presented here. But you may get different numbers when you check into it for yourself, so caveat emptor (let the buyer beware).

Most of the concepts are built around the tax advantages of life insurance. It accumulates tax free and you can use it to pay your estate taxes. Unless you are wealthy, you won't have estate taxes.

Mr. Kaye wrote this book, in part, as a response to the book, Die Broke. He counters that "He who lives rich, dies rich."

If you belong to the school that you want to pile up wealth, Mr. Kaye can help you. If you belong to the school of enjoying all the wealth for yourself while your're alive, his help will be less beneficial.

People have historically used life insurance as income protection for a family. This book balances that perspective with ideas for how life insurance can help with wealth creation, estate planning, charitable giving, diversification, and risk reduction.

If you get tired of hearing a constant pitch for life insurance as the answer to all of your problems, you probably won't finish the book. But, be sure to look at the 10 case histories near the end for the case with a person whose situation is most like your own. You will probably get a useful idea or two. I suggest that you do check these ideas out with your financial advisor and tax attorney, given the changing estate tax environment, before doing anything.

Good luck with pursuing your financial goals, whatever they are!

6 of 7 people found the following review helpful:

3.0 out of 5 stars Using Insurance to protect your estate, August 18, 2002

By 

Chuck Kimbriel "Happy Amazon Customer" (USA) - See all my reviews

This review is from: Die Rich 2: The Absolute Bottom Line on Wealth Creation and Preservation (Hardcover)

I am not a big fan of life insurance and insurance products. Having been at one time a sales rep for one of the big three insurance companies, I am acutely aware of the shenanigans that transpire.Too many young and struggling people get suckered into buying life insurance for all the wrong reasons.Barry Kaye, on the other hand, does make a strong case for insurance as an estate tool for the 'Wealthy'. People who have already amassed great wealth and are looking for a way to reduce estate taxes and leave more cash for their heirs.It's been said that while you are alive the IRS will take everything they can and when you die they will get everything they missed. How true!70-ish retireees worried about the stock market will find the advice on pensions, profit sharing, 401 (k) and IRA Maximizer very useful.Savers with low/non growth savings accounts and other similiar financial instruments that are purported to be "safe" will find a better alternative here.The book profiles 10 case studies. Case study #10-Create $6 million for $3500 a year should appeal to many.If you have already amassed great wealth and need some strategies to preserve your wealth and want to leave more to your heirs, this book is for you. If you are looking to create wealth, you will be better off with More Wealth Without Risk or You've Earned it Don't Lose it.In any event, it is interesting reading for anyone seeking to create wealth and reduce or eliminate estate taxes.