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MI Rewind: Infinite Banking with Chris Naugle
Millennial Investing - The Investor’s Podcast Network
The Benefits of Paying Back Loans in Infinite Banking
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Paying back loans in the infinite banking concept allows individuals to free up more money in their policy, reduce the interest paid to the insurance company, and keep their money compounding. By repaying loans, individuals have more money available the next day, pay less interest to the insurance company, and continue to accumulate wealth through compounding. It's a mathematical and financial advantage, as every dollar repaid means more money available and less money going to the insurance company. The ultimate goal in infinite banking is to use all one's money for immediate needs rather than leaving it for beneficiaries, embodying the understanding that wealth is built and maintained through continuous movement of money.
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