Labor Day might be about rest, but in the basement, we’re getting to work on busting some of the most persistent myths in personal finance. Joe Saul-Sehy and OG welcome insurance pro Tony Steuer to unpack the shiny marketing around infinite banking and velocity banking. Spoiler: sometimes “be your own bank” really means “make your insurer rich.” From permanent life insurance pitfalls to the real math behind these strategies, Tony helps separate clever sales pitches from solid financial planning.
Then we shift gears to a conversation every parent, grandparent, and future gift-giver will love. Renowned financial journalist Chuck Jaffe joins the crew, fresh from becoming a grandfather, to share how he’s setting his new grandchild up for a strong financial future. Think stock portfolios for toddlers, early Roth IRA strategies, and simple systems that keep family generosity from getting lost in the shuffle. His practical, battle-tested tips will have you thinking differently about the best ways to give kids a head start.
Whether you’re looking to avoid costly detours or create generational wealth, this episode is equal parts cautionary tale and inspiration. You’ll walk away ready to dodge financial traps, build smarter for the next generation, and maybe even rethink your own long-term giving plans.
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Why infinite and velocity banking aren’t the slam-dunk solutions they’re often sold as
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How to spot the red flags in permanent life insurance pitches
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Smart, tax-efficient ways to save for children and grandchildren
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Creative strategies for gifting assets that grow with the child
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The importance of balancing generosity with your own long-term goals
Ideas to Ponder During Today's Episode
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Have you ever been pitched an “innovative” financial strategy that didn’t feel quite right? What tipped you off?
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What’s the most meaningful financial gift you’ve ever given—or received—as a child?
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If you could give one piece of financial wisdom to the next generation, what would it be?
FULL SHOW NOTES: https://stackingbenjamins.com/permament-life-insurance-and-growing-your-money-1729
Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201
Enjoy!
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