Saving for retirement can be a challenging task. It is difficult enough for some people to cover their living expenses, and there's little to no money left to put aside for retirement. For others, the challenges include figuring out how much to save and where to put the money so it earns high interest. Hence, many have resorted to traditional retirement plans like 401(k)s and IRAs. But is this really the path to enjoying life after you stop working, or have you fallen for the retirement trap? What options do you have?
In response to the requests to bring back the BYOB series, Russ and Joey continue their book review, and today they discuss a topic that every working person should pay attention to–the retirement trap!
This episode is Part 13 of an 18-Part Series.
Top 3 Things You’ll Learn:
- What is retirement, and why is it the opposite of what we really want?
- How some financial and tax advisors leave some of the most important information out of their calculations
- What others have been doing to avoid the retirement trap
About R. Nelson Nash:
R. Nelson Nash (1931 - 2019) wrote the book Becoming Your Own Banker that unfolded The Infinite Banking Concept (IBC). He came up with the idea of IBC in the early 1980s when he was struggling with high-interest rates on commercial bank loans. Today, many people continue to benefit from using IBC as a tool to achieve financial freedom.
Disclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.
This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.
The hosts may have a financial interest in the programs or services mentioned in this episode.
Join the Inner Circle Live: August 25-27, 2023
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Promo Code: PODCAST
Free Financial Strategy Call:
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Becoming Your Own Banker by R. Nelson Nash:
https://www.wealthwithoutwallstreet.com/ibcbook
Nelson Nash Institute:
https://infinitebanking.org/
The Pension Idea - A 1950 classic by Paul Poirot:
https://infinitebanking.org/product/the-pension-idea-copy/
The Infinite Banking Concept Explained by a CFP:
https://www.youtube.com/watch?v=sVuexMv6Kf4
IBC Example: True Cost of Paying Cash vs. Using a Whole Life Policy:
https://www.youtube.com/watch?v=h4rugVZkajc
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The Wealth Without Wall Street Podcast