AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
MI Rewind: Infinite Banking with Chris Naugle
Millennial Investing - The Investor’s Podcast Network
Using Infinite Banking to Get Your Money Back on Car Purchases
5min Snip
00:00
Summary
Transcript
Episode notes
By utilizing the strategy of infinite banking, you can effectively get all the money back for every car you purchase. Rather than paying cash, leasing, or taking a loan from a finance company, you can save money in an infinite banking policy for three years, then take a loan to buy the car. Instead of making payments to an external finance company, you make payments back into your banking policy, effectively paying yourself first and with interest. Over five years, you can recapture 92% of the cost of your first car and all the money for subsequent cars. This method allows you to have more money in your account each month, recapture money that you used to give away, and continuously earn interest on your money, leading to significant financial benefits.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode