The “Secret” 770 Account

By bfchmv, May 31, 2013

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

I just read a very provocative teaser (aren’t they all, though?) from Tom Dyson in his Palm Beach Letter. It talked about a ”secret” 770 Account that is taken advantage of by a huge list of the very wealthy, not to mention by banks and other financial institutions, This 770 Account gives a steady 5%interest, plus you can access your money at any time, ……and it is all tax free!! ….under the radar, so to speak. Travis, could you please enlighten us poor peons to this fabulous deal?

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78 Comments on " The “Secret” 770 Account"

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mjk1384
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mjk1384
June 2, 2013 8:52 am

How do I get info on the 770 account. Maybe you don’t really get anything from Gumshoe FREE?

larry

Travis Johnson, Stock Gumshoe
Admin
4818
June 2, 2013 9:41 am

I haven’t looked at that one yet, we have not covered it in a free piece or in an Irregulars article. Sorry, we can’t get to them all.

Derick Moore
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Derick Moore
June 3, 2013 1:17 pm

If you do decide to look into this ‘770’ plan, please reserve more than half an hour to listen to their slow pitch. They haven’t ventured into the realm of facts yet, and I’ve turned off the sound while I wait for them to get to the ‘meat’.

WILLIAM MACKLIN
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WILLIAM MACKLIN
April 13, 2014 1:02 pm

If you X-out of the video you will get a drop-down box to get just the text and read at your leisure. Hope this helps.

George Bardos
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June 11, 2013 2:23 pm

I want info on the 770 account. From who do I get this info on the 770 account? Please email me back with information. Thank you for your response if you decide to send me one.

Travis Johnson, Stock Gumshoe
Admin
4818
June 11, 2013 2:26 pm

George, there’s a long discussion of the details (including lots of helpful comments from other readers) in our follow-up article here: http://stockgumshoe.com/reviews/palm-beach-letter/secret-770-account-or-the-presidents-account-explained/

samuel j gagnon
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samuel j gagnon
January 5, 2014 12:23 pm
Please send me the name of someone or entity who is knowledgeable of the 770 accounts . This person or entity must be able to open or help me open a 770 account on my behalf at the lowest cost to me. Thank you for your help. Samuel j gagnon 11750 STE RTE 12 BOONVILLE, NY 13309
Edgar Arceo
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January 6, 2014 9:18 am

Samuel,

Send me an email to edgar@arceofinancial.com

I can help you and guide you through the process…

God bless you!

Deborah Terry
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0
January 25, 2014 1:24 pm

Samuel can you help and guide me through the process also?

Edgar
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October 16, 2013 12:44 pm
To answer the question: Who do I contact about this 770 account? It has to be somebody that is familiar with this type of accounts – not just any life insurance agent. If you go to a regular insurance agent, he will sell you a regular whole life insurance (or Universal Life insurance) and it won’t work the way it suppose to. There are many things that he needs to put in place so it will work like the documentary that you watched. If you DO talk with an insurance agent and he tries to sell you something, please feel… Read more »
Andrew
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Andrew
March 1, 2014 9:42 pm

George, have you received any response concerning the 770 info you requested?

GEORGE K. BLAIR
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GEORGE K. BLAIR
July 10, 2014 8:56 pm

i wanted to find out who do i talk to about opening a 770 account ; in the houston area

Andrew
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Andrew
March 1, 2014 9:44 pm

Belay that.

lucyberkeley
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lucyberkeley
September 26, 2013 12:46 pm

I am interested too Is this for real?

Travis Johnson, Stock Gumshoe
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4818
September 26, 2013 12:56 pm
Edgar
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October 16, 2013 12:45 pm

It is real. I have one myself. It is not a mystery though – a lot of people has one of those accounts (or multiple). I put some comments at the end of this discussion – if you have detailed questions, please let me know. Blessings!

Harold
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Harold
February 15, 2014 7:19 pm

What company did you get your 770 account from? Did you research other companies / policies? If so, would you list them.
Thanks,
H

Dolores D. Fisk
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Dolores D. Fisk
October 16, 2013 8:54 am

Who do I contact about this 770 account? Where in the IRS code does it say that it is tax free?

Edgar
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October 16, 2013 12:45 pm
To answer the question: Where in the IRS code does it say that it is tax free? Look at the “Tax Policy Tax Treatment of Life Insurance and Annuity Accrued Interest” (GAO/GGD 90-31) – and go to page 27. Second question: Who do I contact about this 770 account? It has to be somebody that is familiar with this type of accounts – not just any life insurance agent. If you go to a regular insurance agent, he will sell you a regular whole life insurance (or Universal Life insurance) and it won’t work the way it suppose to. There… Read more »
Deborah Terry
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January 25, 2014 1:16 pm

Im located in Henderson Tn . Can you find someone in my area?

Edgar
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Edgar
January 25, 2014 3:05 pm

Hi Deborah, I am located in Nashville TN – not too far away from you. Send me an email at edgar@arceofinancial.com – It would be an honor to help you in any way.

P.F.Hess
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P.F.Hess
November 19, 2013 1:53 pm

where did you get your info on how to open a 770 acct?

Edgar
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November 19, 2013 7:01 pm
There is a book I always recommend: “The pirates of Manhattan” By Barry James Dyke. It will tell you everything about it – what it is, who uses it, how to use it, etc. There are many people that say they can open this account, but few can really give you the best for the money you are depositing into it. But if you want to just get more info on this account – you can read that book – it is cheaper than subscribing to the Palm beach letter and you will get more information – it is an… Read more »
David
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David
April 11, 2014 2:29 pm

Edgar,
Please send me additional info. and report on the Life Policy that allows me to barrow aginst cash value. “770, Bank on yourself, ect…
Best regards,
David Kirkpatrick

Joseph McDonough
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Joseph McDonough
December 10, 2013 3:35 pm

Did you ever see that program ” American Greed”? If it sounds too good . Its not true. B S has made some crooks wealthy.

Tien Schryer
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Tien Schryer
December 18, 2013 1:27 pm

I can help any and all levels of investor build a “770 account”. Please call us, we are trying to help the whole community take advantage of the great wealth “secrets”.

Rick Kush
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December 20, 2013 4:31 pm

Please send me information on 770 accounts, thanking you in advance. Rick

ritagl
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ritagl
June 2, 2013 1:00 pm

Travis,
Let me know ant details on this 770 account.

Lloyd M
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Lloyd M
June 2, 2013 4:52 pm

I have a feeling that it has to do with life insurance plans and setting them up to pay out on a regular basis, more like an endowment or annuity.

Edgar
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October 16, 2013 12:51 pm
It is a life Insurance – with special riders and from special carriers. There are many things that needs to be put in place. You do need to set up a premium to pay in a regular basis for the first years – but you decide what kind of distribution you want – based on your present needs etc. You can just let your money grow tax deferred and whenever you need it you can access it tax free. Look at the IRS CODE – Tax Policy – Tax treatment of Life insurance and annuity accrued interest. It is all… Read more »
JOE LARUE
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JOE LARUE
October 29, 2013 3:17 pm

Hi Edgar, Please advise what life insurance company would be the best for opening a 770 acct. Thanks, Joe

Edgar
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November 11, 2013 4:00 pm

Hey Joe,
It depends where are you located, your age and your health condition. If you would prefer, you can send me an email to edgar@arceofinancial.com. It will also depend on what is your purpose of opening a 770 account…. but if you can give me a better idea, I could mention a couple of companies.

Mat
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Mat
June 3, 2013 12:55 pm

WTF is a 770 account?

AMANDA FROM NOLA
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AMANDA FROM NOLA
July 11, 2013 11:36 am

OK, MAT, WHAT IS A WTF?

Sean
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Sean
July 17, 2013 2:40 am

WTF stands for “What the F***!”

Travis Johnson, Stock Gumshoe
Admin
4818
June 3, 2013 2:36 pm

OK, OK, lots of questions on this one so I posted my thoughts on it today — not something I’m at all expert in, but hopefully this will help: http://stockgumshoe.com/reviews/palm-beach-letter/secret-770-account-or-the-presidents-account-explained/

Mat
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Mat
June 3, 2013 4:03 pm

Travis, Thank you for your prompt reply.
Mat

dudeguy
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dudeguy
June 22, 2013 4:59 pm

Please send me detailed information on the opening of a 770 account..
Please send this info to: hrutman@gmail.com
Thank you,, Howard

Christian Buehler
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Christian Buehler
July 13, 2013 9:33 am

Can you please send me the information about how to open a 770 account?
Thank you,
Christian

Edgar
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0
October 16, 2013 12:53 pm
Christian – you just need to contact a life insurance agent that is familiar with this type of accounts – not just any life insurance agent. If you go to a regular insurance agent, he will sell you a regular whole life insurance (or Universal Life insurance) and it won’t work the way it suppose to. There are many things that he needs to put in place so it will work like the documentary that you watched. If you DO talk with an insurance agent and he tries to sell you something, please feel free to send me an email… Read more »
Alan
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July 18, 2013 9:33 am

It’s whole life insurance…!!! That’s it, end of story. Another way for these so-called financial advisors to get hold of some, or all, of your hard earned money.

Peggy
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Peggy
November 23, 2013 2:16 pm

that’s not the way it was explained by the Palm Beach letter, the way I understood it, I thought it was a savings account you could open with minimum of $300, they never mentioned a life insurance policy at all……..so I think your right Alan, sounds exactly like you put it!!

Edgar
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November 25, 2013 3:50 pm

Yes – you can start with $300 but it IS a Life Insurance. I am sorry you have to pay a subscription to find that out.

jean capitelli
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jean capitelli
July 31, 2013 5:17 pm

please let me know about 770 and where can i go to invest

Edgar
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October 16, 2013 12:57 pm
You need to contact a life insurance agent that knows about this accounts. But pay attention – not every life insurance agent know (or want) about this accounts. So if you go with them, be careful – they may try to sell you a normal whole life (or universal life) – then they do that, they will get almost all your money upfront. so you won’t see anything for the first 2-3 years. If you need help finding an agent in your area, let me know. I can help you out. OR if you have a life insurance agent, you… Read more »
Phelps
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August 15, 2013 10:42 am

It’s whole life insurance. With certain plans, you can get dividends from the investments and you can borrow against it (“getting your cash out”).
If you want one, go talk to your insurance agent. Unless you have millions liquid and need to shelter them, it’s probably not worth it as an investment vehicle.

ERNIE
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ERNIE
August 15, 2013 11:06 am

ALL THE 770 IS WHOLE LIFE INSURANCE WHICH YOU CAN BARROW AGAINST AND PROCEDES ARE TAX FREE WHEN PASSED ON TO YOUR LOVED ONES ON YOUR DEATH

dkalverson
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dkalverson
September 9, 2013 9:00 am

Is there really a sure-fire safe investment out there?

Edgar
Guest
0
October 16, 2013 12:58 pm

Well, this plan has guarantees. So yes. Also, it is credit protected (in most states) – meaning that a creditor can’t touch them. Even if they sue you and win the case, the cash value on this account is protected.

terrence treat
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terrence treat
February 1, 2014 8:51 am

Sir,
58 working check to check is the 707 real how who do I do it zip code is 91765
thank you terry

Tim
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Tim
September 10, 2013 6:21 pm
the dividend paying whole life insurance earns annual dividend. A rider called a PUA is paid up additions, additional cash that you can add above the basic premium. At about 7 years the whole life returns the value of all you premium as permanant life insurance, from 7-15 years the cash value grows, above 15-20 years the dividend growth will be enough to complete the remainder of premium payments for life. This is where the policy becomes self sufficient. Policies may expire at 90 years, 100, 120 years age, one must withdraw the money approaching the contracted age. So the… Read more »
Tim
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Tim
September 10, 2013 11:27 pm
Hi, Phelps says it’s not worth it unless you have millions. My big policy, $450 permanent premium, $150 convertible term, plus $900 paid up additions cash, will pay my first car off next March. Saving me $75 a month interest waste, withing the $420 car payment the big deal is the $75 interest waste. The interest waste will then be paid back into my policy and change from waste to savings, -75 waste to +75 saving is $150 profit per month. Now maybe difficult for a small income but get stated with whatever you can afford. Young people with not… Read more »
WILLIAM MACKLIN
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WILLIAM MACKLIN
April 6, 2014 1:58 am
I commend you, Tim. You are a straight shooter. You tell it like it is. You would be successful in the Insurance/investment world. I did it for the last five years of my career. It Does feel good to help people with planning for their futures. In five years in the business I only had two clients under the age of 24. These kids “Got it”. They were planning for their futures like most 50-year-olds do. I told them I was proud of them and, like you said, if you have more questions write them down and we’ll cover them… Read more »
Tim
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Tim
September 10, 2013 11:53 pm
Really sovereign investors/savers really shouldn’t want this known but this should be a small audience. Let me show you what I am doing on $1500 a month, not starting with 1M. In March the 1st car is paid with my paid up additions, that $420 positive cash flow by stopping the car payment, goes to double payments on our 2nd car and finishing off the 2nd car one year later and elimating several years of interest waste. At March ’14 plus one year, I then have $830 free cash flow to start another policy, and this thing compounds and accelerates.… Read more »
Debbi
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Debbi
September 25, 2013 11:07 am

Any suggestions of a good private mutual fund to buy the policy from? How much does it take to get started?

Edgar
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October 16, 2013 1:02 pm
It has to be from a Mutual life Insurance company. There are many out there – but I would just recommend maybe 4 or 5. (because of their ratings, riders, cash accumulation plans etc) You have to go through a life insurance agent (broker) that knows about this “770 accounts” – so he will determined which mutual company is the best for you (based on your age, plans etc). If you want, i could give you a list of people in your area. And I could even double check if the policy they are giving you is truly the best… Read more »
Edgar
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October 14, 2013 12:59 pm
While looking at the video/information of the 770 accounts I knew exactly what they were talking about right away, because it is something I do and it is something I recommend to some of my clients based on their needs and their future plans etc – but I am kind of mad at these companies that are putting those accounts (770) like something mystical or hidden. Like finding a pirates’ treasure that nobody knows – it actually put fears on people’s minds sometimes. They use manipulation of people’s emotions to get their interest etc. That is why I went ahead… Read more »
Edgar
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0
October 16, 2013 12:32 pm
To answer the question: Where in the IRS code does it say that it is tax free? Look at the “Tax Policy Tax Treatment of Life Insurance and Annuity Accrued Interest” (GAO/GGD 90-31) – and go to page 27. Second question: Who do I contact about this 770 account? It has to be somebody that is familiar with this type of accounts – not just any life insurance agent. If you go to a regular insurance agent, he will sell you a regular whole life insurance (or Universal Life insurance) and it won’t work the way it suppose to. There… Read more »
victoria R Ector
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victoria R Ector
October 18, 2013 7:07 pm

What is the name of the insurance companies that know about 770account and can hel me get singed up

Edgar
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October 18, 2013 9:17 pm

Where do you live Victoria? How old are you? Send me an email if you prefer…
edgar@arceofinancial.com

Annette
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Annette
October 25, 2013 7:31 pm

I just heard about this. I’m past 70 and need to retire, but don’t feel secure in doing so. Is this something that would benefit someone my age? I thought about trying to put in a small amount, maybe $2000 to see how it works. Do I have to pay a premium each month like insurance? How long do you need to keep the money in before you could draw it out if you weren’t satisfied?

Edgar
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October 26, 2013 11:51 am
Annete, To answer your questions. Would you be able to benefit? It depends in many factors. You will have to talk with somebody that is very familiar with this type of account and won’t be just trying to push a sale, but will truly look into your situation and will give you the best advise. It may still apply, but you may have to do it in a different way. I will give you an example – I just had a client who is 68 buying one of these “770 accounts”. He didn’t have the time to build his policy… Read more »
Edgar
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October 26, 2013 12:13 pm

I forgot to answer your last question: You have a 20 day “free look” – if for any reason, you don’t like the policy, you can cancel without paying penalties. You will get all your money back.

Paul
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Paul
December 5, 2013 11:33 pm
Edgar, I would like to know who in my area handles these accounts and also I would like more detailed info. Your example above on the person who wanted to skip the monthly premiums and invested 500,000 dollars left to many open questions. Try this one please. Let’s say someone wants to do the same thing; what is the least amount of money one can invest to skip the monthly premiums and how long before they start seeing a turnaround like you showed above (800,000 dollars) or course not 800,000 but what would be the equivalent and in what time… Read more »
Edgar Arceo
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December 6, 2013 1:13 pm
Paul, The turnaround was not 800,000 on my example. That was the Death Benefit you will receive. The turnaround on year 2.5 was that he was going to have the $500k he initially put in, and after that point on, his money was going to grow (tax deferred) at a 4%+ rate. You are right, this system is not that simple. Is not like putting money into an account and done, it needs more commitment on your part etc. If you want to just do ONE single premium, then you can do as little as $10k if you want. Now… Read more »
jules
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jules
December 9, 2013 5:41 pm

Thanks

Macksmart
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Macksmart
August 21, 2014 2:31 am

Paul. Did you notice that whenever someone asks Edgar about “investing” a small amount to get started with this “plan”, he jump to the story of the man who puts $500,000 in for starters. Edgar is looking to make a lot of money and then go away. BEWARE!

cristiano ferreira
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cristiano ferreira
December 9, 2013 6:24 pm

I deed some info on that please!!

Lynn Clark, Stock Gumshoe
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December 9, 2013 11:13 pm
R.M. Afflitto
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R.M. Afflitto
March 7, 2014 12:02 pm

Yes I would like to read the letter you mentioned regarding all of the questions about the “770” account and what it truly is. I am 67 years old and I am in no way interested in anything but “safe” investments. Is this something that is FDIC insured? Truly tax-free?

Valerie house
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Valerie house
April 3, 2014 3:21 am

I also would like for you to tell me of someone in my area who handle these account.Los Angeles Ca 90002

Richardavalone
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Richardavalone
August 19, 2014 7:57 am

I have just been thru a very traumatic half million dollar divorce. So at 78 I now have half of what I expected to be living on in my retirement. Is the 770 worth investing in so I can rebuild my assets get a dividend and move on?
Am I too old for this sure thing investment?
Father died at 77, brother at just 78. Mother at 98, but severe Alzheimer’s s last six years.
So statistically do I have time to invest and reap the benefits?
Richvalone@yahoo.com

Macksmart
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Macksmart
August 21, 2014 1:59 am
I don’t know who this Edgar fellow is, or what country he’s operating from. But, he’s dabbling in insurance and investments, two instruments that are governed by Federal laws in the United States. He is approaching the rim of the Blue Sky laws: painting a pretty picture while just pulling numbers out of thin air. Buyers beware! Edgars grammar isn’t any better than his logic. There’s no free lunch anymore. If it sounds too good to be true, it probably is. Ask your CPA. He/she has nothing to gain by telling you to jump in like he might be getting… Read more »
Lynn Clark, Stock Gumshoe
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August 21, 2014 8:26 pm
Edgar
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Edgar
September 3, 2014 5:03 pm
Macksmart has made some very serious accusations against me. The Bible teaches us: “Answer not a [self-confident] fool according to his folly, lest you also be like him. ” Proverbs 26:4 It reminds of me of the Pharisees in Jesus’ times. They thought they knew it all, and nobody could teach them anything. Jesus didn’t respond to them, but instead He shared the Truth with the people who were open and willing to receive it. This is a public blog, so there are people who may be open to receiving the truth. This is not a “get rich quick” thing.… Read more »
John Renna
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John Renna
March 23, 2015 10:13 pm

I would like to find out where I can investigate these 770 accounts. I live in East Northport on Long Island. Are the dividends able to be re-invested into the account? Thanks

Lynn Clark, Stock Gumshoe
Admin
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March 24, 2015 2:36 pm

Hi John-
They’re talking about whole-life insurance. We’ve covered that topic in depth here: http://www.stockgumshoe.com/reviews/palm-beach-letter/secret-770-account-or-the-presidents-account-explained/
I hope that helps!

sibyl auten
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sibyl auten
October 24, 2016 2:53 am

My colleagues were looking for PS 3801 earlier today and were informed about an online platform that hosts a lot of fillable forms . If others are searching for PS 3801 too , here’s https://goo.gl/pDl8uZ

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