The Money Advantage Podcast

Is what you think about money actually true? Is it helping or hurting you? Moving you forward and expanding your influence, or limiting you and your potential? https://www.youtube.com/watch?v=YerQ46AgjZE If you joined us last week, you know that in true Bruce and Rachel fashion, we only covered half of our intended conversation, so we're back to reveal more money myths in Part 2. Here, you'll get a detox from harmful thinking about money, so you can gain back financial health and control. Tune in as we continue our series through Nelson Nash's book, Becoming Your Own Banker, where we discuss retirement plans, the stock market, paying cash, and life insurance needs analysis. And this is one place that the final points to consider might just be the most important part of the book. If you want to keep more money, have more future income, and live with more peace of mind along the way, join us for down-to-earth real talk about money that you'll wish you already knew. Money Myths that are Costing You Money, Continued4. Tax-Qualified Plans are Best5. You Should Only Do One Thing6. You Should Always Pay Cash7. Life Insurance is About NeedsBook A Strategy Call Money Myths that are Costing You Money, Continued 4. Tax-Qualified Plans are Best The most popular qualified plan, of course, is the 401k. The 401k is an account that allows people to contribute some of their paycheck to be invested on their behalf. Once locked away, that money cannot be accessed without penalty until age 59 and a half. Then, once you do access it, it’s time to pay major taxes.  So why does the 401k have such a grasp on the financial world? Because it’s specifically designed for retirement savings, and it gives people a way to feel like they’re investing and doing something big with their money. And don’t get us wrong—it’s better to save money somewhere than to do nothing at all.  The problem is in thinking that a 401k or an IRA are your only options. After all, these are government-designed products that benefit the government, too. While that alone doesn’t discredit qualified plans, it should stop and make you think.  [12:53] “When a government creates a problem… and then turns around and grants you the exception to the problem they created, aren’t you a little bit suspicious that you’re being manipulated?”  So, if qualified plans are not the best assets to save for retirement, what are the best? The short answer is anything within your control. The longer answer is that you want an asset like whole life insurance where your dollars are preserved, growing, and accessible whenever you want them to be.  [22:50] “Investing is a fabulous idea, but not for the purpose of having safe money. Not for the purpose of having money that you can depend on in the future.” 5. You Should Only Do One Thing Another common financial myth is that there’s only one right thing to do. This couldn’t be further from the truth. What matters far more is your order of operations. If you invest first, without having savings to support you, it's going to be unpleasant when you need to dip into your capital and you cannot. So, savings have to come first.  Then, once you have a good foundation, and you have capital that isn’t just secure but is also growing, you can start employing some of those dollars in investments. Those investments can grow, and even if something goes wrong, you’ll still have a solid foundation.  Whole life insurance is an important asset for many reasons, but we aren’t suggesting it’s the only thing you do. We simply recommend it as a starting place that will make all of your future financial decisions that much stronger. And if you are being told that you should only do one thing with your money, question why that is. [45:30] “When you are putting money into a situation that is deferring tax, you just don’t have control over how much you will end up getting off that account balance in the end.” 6.

If you're reading this, chances are you've already taken the first step towards securing your financial future. But what about the financial futures of your children, grandchildren, or even your great-grandchildren? The journey towards financial stability isn't a one-generation game; it's about creating a lasting legacy that will provide for your loved ones long after you're gone. Today, we discuss the power of trusts for generational wealth. https://www.youtube.com/watch?v=rb44Ad7Eg1k I recently had the pleasure of sitting down with Joel Nagel, an international business attorney who has spent over three decades specializing in asset protection and estate planning. Joel generously shared some incredible insights and strategies for building and protecting a generational wealth dynasty, and I'm thrilled to share these insights with you. The Power of Trusts for Generational Wealth with Joel NagelTrusts and Insurance: A Harmonious Wealth Transfer StrategyUsing Trusts to Protect and Grow Your WealthDiversifying Assets for Long-Term StabilityEducating the Next GenerationNavigating Offshore InvestmentsConclusion: Your Journey Towards a Financial LegacyBook A Strategy Call The Power of Trusts for Generational Wealth with Joel Nagel First things first, Joel highlighted the importance of structuring wealth in a way that transcends personal estate planning. This isn't just about making a will or setting up a basic trust; it's about taking strategic steps to minimize estate taxes and preserve wealth for multiple generations. Joel recommends considering the establishment of international trusts. These legal structures provide a level of protection that domestic trusts may not, safeguarding your wealth from litigation and political policy changes. It's a forward-thinking approach that requires a deeper understanding of the global financial landscape, but the potential benefits for your financial legacy are substantial. Trusts and Insurance: A Harmonious Wealth Transfer Strategy What struck me during our discussion was Joel's emphasis on the relationship between trusts and life insurance. He described this synergy as a "legacy-building machine," and it's not hard to see why. When you set up a trust, you're protecting your assets from estate taxes upon your death. Add life insurance into the mix, and you've got a mechanism to transfer wealth to the next generation tax-free. This strategy ensures that the assets in the trust continue to benefit your heirs, creating a financial legacy that spans generations. Using Trusts to Protect and Grow Your Wealth To illustrate the power of trusts for generational wealth, Joel shared a case where a trust with offshore funds successfully defended in court. This story serves as a testament to the robust legal strategies available to protect trust assets. He also emphasized the benefits of using lending within trusts for generational wealth, as opposed to outright gifting. This approach, employed by prominent families like the DuPonts and Kennedys, can motivate beneficiaries to focus on wealth accumulation and responsible financial management. It's a fascinating way to foster financial growth while also encouraging good money habits. Diversifying Assets for Long-Term Stability In addition to strategic trust management, Joel also highlighted the importance of diversifying your assets. He specifically recommended investments in gold and real estate, noting that these tangible assets have historically demonstrated resilience against inflation and economic shifts. Additionally, understanding and utilizing legal structures like onshore and offshore trusts, limited partnerships, and corporations can further fortify your family's financial standing. It's all about spreading your wealth across different asset classes to ensure long-term stability. Educating the Next Generation One of the most critical aspects of generational wealth, according to Joel,

What if what you think about money turned out not to be true? Even worse, what if you're believing lies that are costing you money? https://www.youtube.com/watch?v=AuThVweoNlU Embark on a journey as we unravel the twisted web of money myths holding you back from true wealth. Inspired by Nelson Nash and flavored with insights from David Stearns, our discussion breaks down seven misconceptions that have snaked their way into your financial beliefs. From the debated need for dual incomes to the complex dance around tax deferral, we're here to challenge the status quo and guide your finances out of the fog and into the clear. Tune in as we continue our series through Nelson Nash's book, Becoming Your Own Banker, where we discuss increasing income, future taxes, banking, retirement plans, the stock market, paying cash, and life insurance needs analysis. And this is one place that the final points to consider might just be the most important part of the book. If you want to keep more money, have more future income, and live with more peace of mind along the way, join us to for down-to-earth real talk about money that you'll wish you already knew. Rethink Your ThinkingThe Top Money Myths1. You Need Two IncomesThe Economic Value of Homemaking It’s Better to Take the Tax DeferralMarginal Tax Brackets2. You Should Be the Customer of the BankCome Back for Part 2Book A Strategy Call Rethink Your Thinking If you want the same results you’ve been getting, you’ve got to keep doing what you’ve been doing. But if you want different results in life, you have to do something different. If the run-of-the-mill financial advice worked for people, we’d see proof of that. And yet many people who stay stuck in this way of thinking are only just keeping their heads above the water. For massive, powerful financial transformation, you have got to rethink your thinking. Stop clinging to what doesn’t work (or only marginally works) because it’s what you hear most often. Instead, look to the successful few and follow their cues.  To help, we’ve compiled a list of money myths people commonly believe, and how to rethink your thinking around these topics.  The Top Money Myths The dangerous thing about money myths is that they’re so prominent in our society. These are not just individual beliefs that are myths, but widely accepted cultural beliefs about money that are holding people back from true wealth. So let’s explore what these myths are, and how you can rethink your thinking about them. Below, you'll find the first three of seven money myths discussed in Becoming Your Own Banker. 1. You Need Two Incomes This is one of the trickier myths to combat because there are plenty of good reasons for families to have two incomes. Especially now, with high inflation, many families are feeling that pinch.  However, thanks to Parkinson’s Law, we know that what we THINK we need and what we actually need are not the same. This means that the more money people make, the more their spending rises to meet that income. Unless, of course, that person gets a handle on that spending and turns it into a habit of saving instead. Another reason the “two-income” mindset holds us back is because it’s a limited perspective. While more money is more money, viewing income as a product of labor means that you’re always stuck trading time and work for money. If, instead, you shift your understanding of money and income as something that can be scaled and is based on your value, then it doesn’t matter whether you have one or two incomes. You may have ten sources of income! And even that may give you more time in your week to spend time raising your household, making family memories, and more. [08:10] “There’s a different way to think about it, and it’s not going to be perfectly black and white. It’s not like there’s one right way to do things. But [Nelson] just encourages us to think about [how] there are two different sources ...

Can you confidently say your family's financial future is protected? Staring down the barrel of a life-altering moment, I was forced to confront the fragility of existence and the critical importance of having one's affairs in order. That harrowing experience became a catalyst for today's soul-searching episode of the Money Advantage podcast, where we navigate the often-neglected waters of estate planning. This isn't your typical run-of-the-mill chat; it's a deep dive into preparing for the unforeseeable, ensuring that your family and cherished assets are shielded when you're no longer here. Estate planning transcends mere financial arrangements—it's about crafting a legacy that encapsulates your values and survives through the ages. https://www.youtube.com/watch?v=aQGy19s4OU8 As I walk you through this with the wisdom I have learned from estate planning attorneys who share our philosophy, we touch on themes beyond the balance sheet. A personal close call serves as a stark reminder of life's unpredictability, prompting the critical need to act now. But it's not all somber reflections; this episode is imbued with hope, offering a powerful free tool to help you sculpt a robust plan tailored to your life's blueprint. By the end, you'll be equipped with the insights and resources to take decisive control of your estate planning, crafting a legacy that ensures your loved ones thrive for generations. Do you know you need to do estate planning, but you're struggling with the motivation to get started because it seems time-consuming, complicated, and hard? When it comes to estate planning, procrastination is so common that it seems normal.  And that's simply because most people are missing the one key thing they need to be able to move forward. So, if you'd like to make progress in just a few minutes, tune in today to find out the one question you need to ask yourself so you can get started? Estate Planning 101Getting Started with Estate PlanningThe Number One Question to StartA Personal StoryHow Prepared Are You to Protect Loved Ones?Book A Strategy Call Estate Planning 101 Estate Planning is such an integral part of financial preparation, and yet it seems like something so complicated and so encompassing that it has the potential to consume all of your focus. However, estate planning does not have to be as scary as all that.  Estate planning is the process of legally planning to take care of your loved ones and take care of your financial assets ahead of time so that when you die, your affairs are sorted. While death isn’t fun to think about, having these plans is so crucial. Otherwise, you risk leaving your family and financial affairs to the whims of the probate courts. So, while you’re alive, it’s so powerful to use the financial wisdom that you have now to ensure that your wishes are carried out when you’re gone.  By taking care of this essential step, you can live your life with a greater peace of mind that what you care most about will be taken care of, no matter what. While life insurance is a piece of that puzzle, there are some other considerations to take care of, and hopefully, this post can make the process just a bit easier for you.  Getting Started with Estate Planning As you ready yourself to get your affairs in order, know that you must do this work with a licensed estate attorney who is licensed in the state where you live. What we’re sharing with you today is a preliminary conversation, so that you can feel confident going into the process. However, the actual planning must be carried out with the correct professional.  The benefit to working with a professional is that they can look at your family, your assets, and your goals and turn that into something customized that works for you. We have some estate planning attorneys on our team who create plans for families in a way that is congruent with the Infinite Banking strategies we employ.

Do you want to use Infinite Banking, but you're uninsurable? Today we are discussing uninsurability hacks! Don't worry, uninsurability ISN'T a game-stopper for using Infinite Banking to build your own banking system.   https://www.youtube.com/watch?v=iklRiFBTZRo That means you can still reap the exponential reward of dividends and interest that grow with uninterrupted compounding, store liquid cash reserves that can serve as guaranteed collateral throughout your lifetime, even while it continues growing, and provide a death benefit that is the most efficient estate transfer tool ... ... even if you're not personally eligible for a life insurance policy due to health concerns. Today, we're nearing the end of our tour through Nelson Nash's book, Becoming Your Own Banker to show why Infinite Banking is, in fact, an opportunity available to just about everyone. Unlock the secrets to financial empowerment, even when the odds seem stacked against you due to uninsurability, with our latest Money Advantage Podcast episode. Rachel Marshall and Bruce Wehner delve into the heart of infinite banking for those carrying the weight of health conditions or lifestyles that insurance companies typically shy away from. We tear down the barriers and bust the myths that may have left you feeling excluded from the world of life insurance, revealing a silver lining for anyone eager to take control of their financial destiny. Join us as we navigate the often misunderstood landscape of life insurance ratings, breaking down how your personal health and lifestyle choices don't have to deter you from securing a policy that benefits your financial plans. From understanding the nuances of mortality rates during unprecedented times, such as the COVID-19 pandemic, to the ins and outs of insurance contracts, this episode is packed with expert insights that will reshape your perception of life insurance's role in your financial strategy. Whether you're facing personal insurability hurdles or you're searching for ways to cement a legacy for future generations, we provide actionable strategies and a dose of inspiration. Explore how insuring a family member can open the doors to the infinite banking concept, and how even those with health concerns can potentially find viable paths to insurability. We also touch on the potential of life insurance in generating passive income and serving as capital for investment opportunities. How to Be Insurable Should You Apply with a Health Condition?Life Insurance RatingsWhat Does it Mean to Increase the Cost of Insurance?Uninsurability Hacks and Insurable InterestBook A Strategy Call How to Be Insurable  If you want whole life insurance, you’ve got to qualify for a policy first. This means that the insurance company views you as an acceptable risk to take on. Since whole life insurance is permanent, companies must do their due diligence to guarantee that they can pay the claims they are responsible for. In other words, they can’t insure everybody, or they wouldn’t have the money to pay death benefits.  So, to gauge your personal insurance risk, companies require an application. Part of this application is a health exam. Life insurance companies employ people called actuaries, who are capable of extremely precise life expectancy math, based on certain health variables. A health exam helps to tell these actuaries whether you fall within an acceptable risk margin, and how much it would then cost to insure you if you do.  For example, someone with good health who smokes cigarettes may qualify for insurance, however their cost of insurance will increase slightly, since smoking creates a higher risk for certain issues later in life.  It may all sound a bit morbid, however, this practice allows insurance companies to be extremely capable financially (which is something you want in an insurance company). By insuring people who are likely to live long lives,

https://www.youtube.com/watch?v=2zMyR7l2elg Insurance may often seem like an enigma, a complex puzzle that's challenging to decipher. You're not alone in feeling this way. However, understanding insurance isn't just a necessity; it's the foundation for securing your financial future. Learn how to protect your lifestyle with insurance. In our most recent podcast episode, we were delighted to have Meaghan Dowd as our guest. Meaghan is an expert in property and casualty insurance, and her knowledge about asset protection is truly transformative. She unraveled the intricacies of insurance policies and offered strategies to ensure that your coverage is as robust as your ambitions. How to Protect Your Lifestyle with InsuranceWhy Insurance is More Than Just a Legal RequirementUnderstanding Your Insurance PolicyUmbrella Coverage: Not an Option, But a NecessityThe Choice Between Captive Agents and Independent BrokersInsights from Meaghan Dowd's Book: "Protect Your Lifestyle"The Road to Financial SecurityConclusion: Secure Your Wealth How to Protect Your Lifestyle with Insurance If you've ever found yourself navigating the intricate labyrinth of insurance policies, you'll understand how daunting it can be. Whether you're trying to comprehend the difference between captive agents and independent brokers or attempting to decipher the meaning behind the terms in your homeowner's insurance policy, it's easy to feel overwhelmed. But, have you ever considered that understanding these details could be your ticket to securing your financial future? We've decided to share some key takeaways from our chat and hopefully illuminate the path to financial security through insurance. Why Insurance is More Than Just a Legal Requirement Insurance is often viewed as a legal requirement, something you must have to avoid penalties or lawsuits. However, this is just scratching the surface of what insurance truly represents. Property and casualty insurance, as Meaghan pointed out, are not just legal requirements but cornerstones of a resilient financial foundation. Understanding Your Insurance Policy Meaghan Dowd emphasized the importance of understanding the intricate details of your insurance policies. From homeowner's coverage to umbrella policies, comprehending what each one covers ensures you're fully equipped to face life's unexpected turns. She also shared her transformational journey in the insurance industry and emphasized how education and proper coverage can make a profound difference in safeguarding your wealth. Umbrella Coverage: Not an Option, But a Necessity One of the standout points from our conversation was the importance of umbrella coverage. This type of insurance isn't just an option; it's a necessity for both personal and business liabilities. Meaghan explained how understanding the details of your policy could prevent the financial fallout of an uncovered claim. The Choice Between Captive Agents and Independent Brokers Choosing the right insurance representation for your specific needs is a crucial decision that shouldn't be taken lightly. Meaghan highlighted the strategic differences between working with captive agents versus independent brokers. Understanding these differences can lead to more tailored coverage for your unique needs. Insights from Meaghan Dowd's Book: "Protect Your Lifestyle" Our conversation also delved into Meaghan's book, "Protect Your Lifestyle," where she empowers readers to make informed insurance decisions. The insights from her book provide invaluable resources for anyone from recent graduates to seasoned professionals. She shared the importance of being proactive with property and casualty insurance, understanding umbrella coverage, and choosing the right insurance representation. The Road to Financial Security Don't miss the opportunity to empower your financial future with smart insurance choices. The insights Meaghan Dowd shared in our conversati...

Should you go to college? Should you send your kids to college? Will they earn more with a college degree? Will the degree provide a better financial future? What is the rate of return on a college degree? https://www.youtube.com/watch?v=sPZM49y8his Unlock the secrets to a financially savvy future as we dissect the age-old belief that college is the golden ticket to success. Prepare to have your perspective shifted with eye-opening discussions on the financial value of higher education, examining the return on investment through the lens of Nelson Nash's "Becoming Your Own Banker." From the societal push towards university halls to the sobering reality of student debt, we navigate the complexities of college funding strategies and the potential of alternative education paths that could lead to prosperity without a diploma in hand. Challenge the status quo with us as we scrutinize the necessity of degrees in today's career landscape, where sometimes certifications can trump years spent in academic pursuit. We share personal tales and data-driven insights that question whether the conventional college experience truly measures up against the backdrop of rising tuition costs and the changing demands of the workforce. Our discussion extends beyond the classroom, highlighting the intrinsic value of continuous learning and the mastery of financial principles that can shape your life's trajectory. Concluding our series, we pivot to practical financial wisdom, contrasting traditional college savings plans with the innovative approach of investing in dividend-paying whole life insurance policies. Through the Infinite Banking Concept, we reveal how this strategy could offer a more advantageous financial outcome, potentially outpacing the gains of a college-funded future. If you're contemplating educational paths or seeking ways to maximize your financial legacy, this episode is an essential guide to charting a course toward true financial enlightenment and independence. So if you want to be able to get real college advice so you can better navigate the college decision and set your kids up for lifetime success, tune in today! Is College Worth It?The Cost of EducationThe Power of Understanding BusinessReal College Advice: Whole Life Insurance or Tuition?Further Resources: Book A Strategy Call Is College Worth It? [05:42] “Nelson believed that people need to think. He thinks that’s one of the biggest problems Americans have, [that they] have changed into, almost like lemmings, where they have just been taught not to think.” Due to Nelson’s skepticism about the education system, he questions whether college is necessary for young people to be productive, successful, and wealthy. After all, if school isn’t teaching people to think, what is it teaching? Of course, there are naturally exceptions to this. You don’t want a doctor who hasn’t trained extensively, nor do you want a lawyer who doesn’t know the law, or a scientist who doesn’t understand the scientific process. In these cases, school is integral. However, the world is becoming increasingly entrepreneurial, which doesn’t take a degree, as much as it takes critical thinking and people skills. Even jobs like coding and programming can be learned in short-term courses, as opposed to a college environment.  This isn’t to say that college isn’t a worthwhile endeavor. However, it is an expensive one and a decision that shouldn’t be taken lightly. There is truth to the statement that your earning power is statistically higher if you have a college degree. However, there is also tremendous debt, that may not be necessary depending on what you want to accomplish in this life.  The Cost of Education In the 80s, when Bruce went to Truman State University, the total cost of room, board, and tuition was $1995. And when he graduated and went into teaching, he was making about $19,000. That’s essentially a 10:1 ratio. On the other hand,

https://www.youtube.com/watch?v=o6GUHRsyCEE It is time to discover wealth across borders. Have you ever wondered what it's like to invest internationally, live as an expat, or find a balance between work and play while enjoying life abroad? In a fascinating episode of our podcast, we sat down with Michael Cobb, a renowned figure in residential resort development and global finance, to dive into these very topics. His unique insights and personal experiences offer listeners a roadmap to a richer life experience that transcends geographic and financial boundaries. Discover Wealth Across Borders - International DiversificationA Legacy of Sustainable ImpactThe Time Machine of Emerging MarketsA Haven for Health-Conscious ExpatsLifestyle Choices and Legacy InvestmentsFinding Balance and Embracing JoyBook A Strategy Call Discover Wealth Across Borders - International Diversification The concept of international diversification isn't new, but few have mastered the art quite like Michael Cobb. In our conversation, Michael shares his wisdom on why considering a small portion of one's portfolio for international investment is not only a financial strategy but also a pathway to expansive thinking and adventure. With his extensive background in creating communities across Central America and living the expat life, Michael embodies the spirit of exploration and risk-taking that is crucial for global investors. A Legacy of Sustainable Impact During the episode, Michael delves into the significance of purpose-driven work. His passion for building sustainable businesses that support economic growth in Central America is both inspiring and thought-provoking. The moving narrative about the transformative power of education he shared illustrates how individual upliftment can lead to generational change. It is a powerful reminder that our professional pursuits should aim for a positive and enduring impact. The Time Machine of Emerging Markets Investing in emerging markets is likened to a time machine, allowing savvy investors to capitalize on growth trajectories reminiscent of past opportunities in now-developed economies. Michael's expertise in distinguishing lifestyle choices from investment decisions shines a light on the critical nature of separating emotions from analytics. The nuances of investing in areas like Nicaragua and Belize offer a buffet of options for those looking to step into the investment landscape with an informed perspective. A Haven for Health-Conscious Expats One of the most innovative aspects discussed in the episode is the creation of a low electromagnetic frequency (EMF) community in Nicaragua. As concerns about the health impacts of 5G and other EMF sources grow, Michael's work in developing ISLA, a planned community with exceptionally low EMF levels, offers a unique living solution. The thoughtful design of the homes and the communal values shared among residents make this a standout investment and lifestyle opportunity. Lifestyle Choices and Legacy Investments Latin America presents a diverse array of living environments that cater to different expat and investor preferences. Michael touches on the cost-of-living reductions achievable in these regions and the allure of various settings, from vibrant cities to tranquil colonial towns. Additionally, the concept of legacy investments, such as teak plantations, offers listeners insight into how they can secure long-term financial returns and create generational wealth. Finding Balance and Embracing Joy As the episode concludes, we reflect on the joy Michael finds in slacklining and the importance of hobbies that rekindle our zest for life. It is a beautiful illustration of the balance we all strive for – to lead a passionate and profitable life wherever we may choose to call home. To discover wealth across borders go to https://ecidevelopment.com/ Book A Strategy Call Do you want to coordinate your finances so that...

Do you want perpetual wealth that continues growing in future generations? https://www.youtube.com/watch?v=aqCY1qB8Lys Today, we're continuing this power-packed series through Nelson Nash's famed book, Becoming Your Own Banker, as we discuss the benefits of buying life insurance for your grandchildren. So if you want to see how thinking generationally is a long-term target on wealth that gives you the advantage so you can build more, how to transfer a wealth mindset to your kids and grandkids, and how to ensure wealth grows continuously ... tune in now! Forestry Management and Infinite BankingBuilding a Long-Term System for Perpetual WealthGood Stewardship and Perpetual WealthBook A Strategy Call Forestry Management and Infinite Banking In Becoming Your Own Banker, Nelson Nash compares the banking function of whole life insurance to forestry management. Both are long-term processes that bear fruit for generations to come when you manage them properly.  He expands on this by explaining how forestry works. If you want trees on a 40-year growth cycle, you have to divide your land into 40 even plots of 100 acres each. Every year, you’ll harvest whatever is on one 100-acre parcel of land, and replant it. That way, in 40 years, when you’ve harvested every parcel of land, you’ll be ready to harvest the very first plot all over again. You’re creating a sustainable, perpetual source of lumber, and therefore income. There are also some intermediate cuttings over the years to allow the strong trees better growth. This can be likened to whole life insurance, where you’re “planting” an annual premium while you’re also growing your cash value each year. Every year it’s able to grow uninterrupted, and you can pass it on for generations. And the more it grows, the more you can use it to purchase new investments, assets, and other quality-of-life improvements. It’s a long-term, lifelong process with major benefits if you’re willing to see it through and be diligent about it.  Building a Long-Term System for Perpetual Wealth Whole life insurance is the preferred asset to execute the banking function because it’s long-term and has many guarantees. The policy loan function allows you to replenish your wealth, much like replanting your forest, while the death benefit provides the seed to the next generation.  The reason term insurance can’t work is twofold: first, it isn’t permanent. Term insurance only stays in place for a set term of your life. Because of this, there is no cash value component, which is the second reason you cannot use term for the banking function. The cash value component of whole life insurance is like the equity of the death benefit. It’s a benefit to policyholders for placing so much money (and trust) with the insurance company. Since the death benefit is not guaranteed if you have term insurance, you can’t really build equity in it.  This doesn’t mean that there’s no place for term insurance in your banking system. Many people choose to have convertible term insurance to supplement their whole life insurance policy. This guarantees that over some time, you can convert some of your temporary insurance into permanent insurance, without having to re-qualify. Even those who do not choose to convert the insurance may feel a sense of peace at having a little extra death benefit during certain periods of their life, like when their children are young.  All of these decisions hinge on one thing: long-term planning and your ability to act for your future self. You cannot predict what will happen to you or your loved ones, however, you can prepare to be capable of overcoming whatever life throws at you. Customizing your banking system allows you to prepare for many outcomes.  Good Stewardship and Perpetual Wealth Just like with forestry, Infinite Banking requires good stewardship. If you don’t take measures to protect and maintain your forest plots, you run the risk of fires,

Are you looking for a higher rate of return? If so, your quest may point you to an important secret as you make financial decisions. Most people want to get the highest rate of return on their investment dollars .... which is why whole life insurance can be such a turn-off.  It seems like a wimpy competitor in the rate of return game. https://www.youtube.com/live/Hu1qEPn9Wc8 But in his groundbreaking book, Becoming Your Own Banker, Nelson Nash addresses this question head-on, which is why we will too. In today's discussion, Bruce and I will take an honest look at the rate of return, why it's not as simple as comparing dividend rates or interest rates, and how Infinite Banking actually increases your rate of return. Today, we challenge the conventional wisdom that focuses solely on the rate of return. We delve into the often-overlooked elements of personal finance, such as taxes, volatility, cash flow, and the unique benefits of a life insurance policy. This episode isn't just a numbers game; it's a revelation of the multifaceted advantages of incorporating whole life insurance into your personal economy. It's time to zoom out and consider the entire financial landscape. We're guided by Nelson Nash's philosophy, which teaches us that every financial action – from spending to saving – is interconnected. Bruce and I explore how leveraging cash value can serve as a buffer against market volatility, enhancing your financial resilience. If you've been fixated on isolated investment returns, let this be the wake-up call that steers you towards a more holistic and strategic approach to building wealth. Understanding the fine print of life insurance policies can be akin to learning a new language, but we're here to translate. We unravel the intricacies of policy loans, PUA payments, and the latest regulatory changes impacting your Infinite Banking policy. This crucial conversation is tailored for those yearning to fine-tune their financial strategies and those curious about how behavior significantly influences financial growth. Tune in for a masterclass on optimizing your financial trajectory, and remember, if you're seeking personal guidance, a deeper conversation is just a consultation away. ”Interest Rates Don’t Matter”Everyone is Seeking a Higher Rate of ReturnHow Are You Financing?Life Insurance Allows You to Do MoreBook A Strategy Call ”Interest Rates Don’t Matter” Interest rates don’t matter. Or, at least, they don’t matter in the ways that most people seem to think. The reality is that not all rates are created equal because they have their own sets of circumstances. Think of how many people choose to buy a more expensive car simply to get the 0% financing. Yet, what’s more important? The interest rate that you pay, or the total monthly payment? When people prioritize interest rates, they often end up paying more per month for a more costly car. Reducing the monthly payment, even at the expense of a higher interest rate, can give you more monthly cash flow that could potentially be put to better use elsewhere, such as paying an insurance premium. Consider, too, how this impacts rates of return. If you had to choose between a 7% rate of return on your 401k or a 7% rate of return on your Roth IRA, which would you choose? Or does it even matter? You might be tempted to say that it doesn’t matter, and yet, when it comes time to distribute your funds, you’ll have to pay taxes on the 401k, but not on the Roth IRA. With that in mind, does it matter what you choose? In this case, interest rates don’t really matter. In fact, knowing what you know, you might even choose to take a lower rate of return in the Roth IRA simply because you’ll fare better in the long run when it’s time to distribute.  When we say interest rates don't matter, what we really mean is that they are not the beginning and end of a good financial decision. There’s information in between that lends context to the interest rates....