A Permission Slip To SPEND Your Money | How a Death Benefit Works in an Infinite Banking Policy
Control and Compound with Darren Mitchell · Control and Compound Financial | BNV Media
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Show Notes
We've talked a lot about what the infinite banking strategy can do for you when you're taking advantage of opportunities before retirement but on today's episode, Darren and Christina are breaking down a strategy that comes into play in retirement: the death benefit.
Rarely a main focus, the death benefit will give you a permission slip to spend your own money in retirement. Darren and Christina use an example of two brothers who both have $1,000,000 saved for retirement where one has an expired term insurance policy and the other has a death benefit. You'll be amazed at the difference a death benefit can provide! Tune in now to find out.
00:00 - Introduction
2:20 - Breakdown of retirement spending, one brother with expired term insurance and the other with $1,000,000 death benefit at 35% tax rate
7:15 - Same example at tax rate of 50%
9:55 - Same example but if interest earned drops 2%
13:48 - Wrap up
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