Dollars and Nonsense

We discuss two end of year tax strategy misconceptions that you should avoid. We'll also deep dive on how to think big picture when you're making your tax plan. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e56 Sometimes, our well-meaning accountants make strategy suggestions. However, these suggestions may not feel quite right. This unease is especially true when you take the long view on your tax planning and question whether what you're doing is a tax saving or merely a tax deferment. Join us as we explore two tax misconceptions that could end up costing you big money in the future. Topics Discussed: What to do when your not in agreement with your accountant When retirement plans create big tax misconceptions The reality of tax saving vs. tax deferment Using empirical data from the past to hedge bets on likely tax hikes in the future Taking a big picture long view of taxes rather than a short-term view The folly of the year-end "big spend" needlessly to save a little business owner's strategy Episode Resources: * Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/ * What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/ * Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

e discuss the danger of letting your emotions dominate your decisions. We also share how you can learn to start with your head, not with your heart. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e55 Today we're talking about a matter that has serious consequences for your financial health. It also ties into anything decisions in life. As a society, we tend to make decisions more with our emotions. Human beings tend to lean heavily towards emotion rather than logic. (We're not Vulcans, after all.) We also follow closely how different ideas, strategies, and tactics make us feel. If you go back to a lot of the mistakes and bad decisions that you've made, the reason you made the wrong choices were due to how you felt. You may have rationalized it later, but it all started with emotionally made decisions. Join us as we dive deep into making better money decisions with your head and not your heart. Topics Discussed: How we rationalize bad decisions and don't learn from them The silence money thief named hopelessness The money bandit called your heart strings How fear impacts your money decisions Preemptively judging possible decisions to determine if they are logical or emotional When you're hesitant to share your decision with others Episode Resources: * Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/ * What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/ * Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

We discuss the impact opportunity cost has on your money. Plus, we'll share how you can avoid missing out on the wealth caused by idle or misused dollars. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e54 There's an underpinning principle of the Infinite Banking we teach. It underscores a lot of the financial decisions that you're going to make. The principle is this: You finance everything that you buy in one way or another. You see, most people believe they're financing something only if there is a loan process--purchasing a car, for example. Here's what those people don't realize: even if they pay cash for a car, you're still financing it. People often think of financing being something only done through a bank instead. However, the reality is we finance our utility bills, we finance groceries, and we finance the gasoline that goes in our car. We finance all the things in our life whether we realize it or not. Join us as we explain in more depth and how to best implement this understanding. Topics Discussed: Understanding how everything you purchase is financed The only two ways we purchase goods and services Where opportunity cost comes into the purchasing equation Using 529 programs and college tuition as an example How leveraging IBC works to beat opportunity costs How dollars lose strength over time how it impacts you Episode Resources: * Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/ * What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/ * Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

We discuss the best investment you can make and how infinite banking can help you become a better investor. Tune in to this episode of the podcast and find out now. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e53 People often ask where we invest money. Or we're asked, "Where can I get a high rate of return? What is the best investment someone could typically make?" Everyone is always looking for that next gold mine of an investment. So what's the answer? Find out in this episode. Topics Discussed: Investing in yourself and what that means Good investors vs. bad investors, what's the difference? How to stop passing the buck on your future Layering strategies Focusing on what you know and are interested in Taking ownership Episode Resources: * Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/ * What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/ * Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

We discuss the dangerous pitfalls of trying to use Universal Life Insurance to act as a bank. Plus, we explain why Participating Whole Life Insurance as your IBC banking tool is far superior. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e52 Topics Discussed: The brief history of ULI as it related to Infinite Banking. How and why ULI backfired What ULI really is, in simple terms A real life example of devastating loss and failed promises of ULI Not being misdirected by an empty promise of guaranteed rate Understanding the lack of guaranteed cash value in ULI Indexed Life Variable Life Episode Resources: * Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/ * What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/ * Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

In this episode, find out about the three most common bank myths costing you money. Changing the way you think about banking can put thousands of dollars in your pocket. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e51 Today, we share how to build your own bank and some of the issues with traditional banking. You see, the way that most of us treat our money actually costs us money and we don't even know it. If you change the way you think, we believe you can make a lot more money because banking is probably rather inefficient for most people. Topics Discussed: When a "free" account isn't actually free. Rethinking opportunity cost in your everyday life. Do banks have their own money or are they merely using yours? The reality of how the bank gets you coming and going. Taxes and more sneaky taxes. Staying liquid outside of a bank. Episode Resources: * Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/ * What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/ * Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

Get the three biggest rules you should follow to be successful financially. Learn the most significant principles and structure to follow for building real wealth. ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e50 Having structure is very important in most areas of life. If you want to be successful with your family, your work, getting in shape, your best results will come from picking a sound system and sticking with it. Structure and following principles are beneficial. This is why people like Dave Ramsey are famous authors: their primary goal is to provide principles and structure to follow to make the end goal simple and clear. Whether we agree with everything they say or not is moot. That's the reason why people flock to them. There could be a million rules here on how to be successful with money. But we're going to focus in on the three most significant principles that you should adopt in order to be successful financially. Our mission is to help people break the bonds of financial slavery. That's why we are so passionate about sharing. These rules will benefit the vast majority of people in real money terms. They will also impact your emotional and spiritual life in substantial ways. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e50 Topics Discussed: Pay yourself first. Stick with what you know. Focus on wealth building, not the end. Episode Resources: * Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/ * What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/ * Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

In this episode, we discuss what Ron Paul calls, "The biggest financial bubble in the history of mankind," and how you can survive the next financial disaster. ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e49 This bubble is built on the fact that the U.S. debt to spending ration is completely out of balance. Basically, we're not doing anything to reduce our debt, but we also just keep spending, and spending, and spending. The U.S. debt to spending ration is more than merely bad budgeting, though. It also impacts the stock market. Most of us would probably agree that the market is overpriced right now. It's inflated, it's a bubble as they would say. Even though most of us have this feeling that, "Okay, it's true that markets go up, they go down. Ride them out and up, then it crashes, then you ride it back up." Most of us are aware that it's been 10 years since the last major crash, the last major correction. That's a long time in the world of stock markets continue without a major correction. The question most of us are wondering is why did the market recover and reach all these new time highs, and how are we able to sustain all this debt? Then the bigger question, "What can we do to insulate and protect ourselves?" ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e49 Topics Discussed: · We're already at 20 trillion dollars owed in debt as a country, and then to add 1.2 trillion each and every year for the next 10 years. · You have to be prepared for the fact that this could happen. And where is most of your retirement or your investment lying? · You shouldn't ask the question of if a crash is going to happen. You should be asking when it's going to happen and how you'll protect yourself. Episode Resources: * Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/ * What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/ * Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

We discuss when it makes sense to stop paying premiums towards your whole life policy when you're using it as a banking tool. We'll also share why you'll probably have to change your perspective on the word "premium" if you want to be successful at IBC. The trouble comes in when people viewer their whole life insurance policy as just another insurance. If I make a $500 payment towards car insurance, home insurance, and different things, we all know I have less money the next day. I'm poorer now. But IBC is actually a different type of premium payment. The money doesn't vanish into someone else's pocket. We need to change the way we see these premiums from adding into the payment side of the budget to the asset side of the budget. Then you get to see what happens when you pay the premiums. ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e48 Episode Takeaways: "If you stop making premium payments, then you are basically stopping the deposits into your personal bank." "You really have to start thinking you are a bank owner. Your policy is your bank." "If you think of premiums as a liability and not an asset you're going to be very limited in how far you can take Private Family Financing and how much money you can make."

We discuss the mental barriers that prevent your financial success. And we'll share the things that you need to do to create a proper financial strategic vision instead of just counting on hope and fantasy to take you where you want to go. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e47 Mental barriers are insidious and elusive. Often, it takes someone else to point them out to you. And these roadblocks could be a great hindrance when it comes to your wealth creation. Join us as we break down the walls and rebuild workable solutions. Destroying Mental Barriers to Wealth: Creating a vision of financial freedom and uncovering the steps to achieving your dreams Replacing a fantasy with a strategic vision Appreciating and accounting for boundaries and limitations

The 401(k) match is probably the most common tool used by Americans today as they try to save for the future. But is it right for you? In this episode, we will discuss the many questions to ask yourself to decide if it is a good fit for you. Your home may need a new home. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts here: https://livingwealth.com/e46/ People ask us almost every day what they should I do with their 401(k). The answer is not a black or white. It requires asking critical questions that will help you make the right decision for your circumstances. There are several inherent problems with the 401(k). However, the main redeeming factor in them is the employer match. But most of the people we've spoken with on a daily basis are only doing this because everybody else is doing it. And they don't know what else to do. The truth is this: Most people know little to nothing about what's going on with the money inside their 401(k). Questions to Ask about 401(k): Why are you doing the 401(k) and is it something you genuinely believe is best for you? Is it giving you a false sense of security? Is the match really a good deal? Do you believe taxes are going to go up or down over the next 10 to 20 years? How high are the fees compared to other tools? How well does the mutual fund the 401(k) perform relative to the rest of the market? Is the marketing going to continue going up or is it due for another recession? Are you willing to lock up your money where it's practically inaccessible for the foreseeable future? Is the number you see in your account the real dollar figure or does it change drastically when taxes and fees are calculated?

In this episode, we discuss how you can avoid going bankrupt paying for college. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts here: https://livingwealth.com/e45/ There are a ton of questions parents ask themselves when thinking about paying for their child's college tuition. What are some things we can avoid when we send our kids to college? How do we pay for this and not go bankrupt in the process? And merely to send them to med school, it can cost up to $2.6 million in some situations. This is putting your kid through college, med school, and specialty. Now that doesn't mean you will have all that debt, but they're going to graduate with a lot of debt. It is possible in the world we live in today to have this kind of debt when they graduate. And we as parents want nothing more than to have our kids succeed, be successful, and to pursue those dreams they want to do. But at what cost? Every year it's getting more and more and more expensive. ~ Paying for College Without Going Broke Topics Discussed: The ever-growing cost of paying for college tuition. Tactics and strategies for reducing costs. Building a "family scholarship" Leveraging financial aid and scholarships Negotiating with colleges How to "look poor on paper" without being poor The hidden trouble with 529 programs The sneaky scholarship and aid trick with whole life insurance

In this episode, we discuss the importance of defining financial freedom for yourself, so you know the exact steps you need to take to get there. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get the discount code, resources, and transcripts here: https://livingwealth.com/e44/ We're often asked, "How do I actually be financially free and what does that mean?" The simple truth is this: financial freedom can mean different things to different people. And we often try to put ourselves in a box by judging ourselves against what somebody else is doing. But that's their definition of what being financially free is. By using someone else's interpretation, we're not building a roadmap that meets our personal needs. The answer is to not try to fit your dreams into other people's expectations, or just try to model it after somebody else. Because we believe that if you know what you're striving for, it's way easier to backtrack and see what steps you have to take. So the real question we should be asking ourselves is this: What is financial freedom mean to you? To help narrow things down, we'll explore three ways to understand and define your own route. ~ Thee Ways to Define Your Finacial Freedom: * When your passive income surpasses your lifestyle * Finally being in control of your money and getting rid of the debt that's nagging you * Being able to leave a legacy ~ Get the discount code, resources, and transcripts here: https://livingwealth.com/e44/

In this episode, we discuss how businesses can use the Infinite Banking concept to solve their need for capital, potentially lower their taxes, and even lower employee churn. ~ Get the discount code, resources, and transcripts here: https://livingwealth.com/e43/ A quick disclaimer: This is going be tailored towards business owners. And it is going to be more tailored to the concept that we teach here at Living Wealth: Infinite Banking, maybe even more so than we have in the past. If you're not a business owner, there will be a lot of valuable information for you also. And if this is one of the first episodes you've listened to, you may want to go back and review a couple of the past episodes because this one is gonna be more detailed and in-depth; it might go right past you if you don't. Make Infinite Banking Concept Work in Your Business Topics Discussed: The capital benefit of using IBC in your business Replacing traditional capital forms Growing polices in a business over time Using IBC to lower a business' tax burden IBC as a benefit to high-value employees Using IBC as a form of Pension for employees Leveraging IBC to lower employee churn ~ Get the discount code, resources, and transcripts here: https://livingwealth.com/e43/

We discuss why it is so important to make your money do multiple jobs at the same time. In other words: Make your money work for you. If you're thinking that you have far too little to show for all the work you've done over the years, maybe it's time to have your money pick up the load and start doing the work for you. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get the discount code, resources, and transcripts here: https://livingwealth.com/e42/ Making Your Money Do Multiple Jobs Topics Discussed: Leveraging real estate Assets that do more than sit Using Infinite Banking Mixing policies and real estate Going well beyond death benefits Recapturing charitable giving in a beneficial and meaningful way Keeping more tax dollars and putting them to work The counterintuitive way to work with debt that really works What is lifestyle banking Earning money on college tuition ~ Get the discount code, resources, and transcripts here: https://livingwealth.com/e42/

In this episode, we're joined once again by Rabbi Daniel Lapin. He enlightens us on the biggest retirement myths, the biblical implications, and what leaving a legacy really means. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get the discount code, resources, and transcripts here: https://livingwealth.com/e41/ Retirement Myths and Legacy Topics Discussed: Does the bible mention retirement Why there isn't a Hebrew word for retirement The retirement myth and misfocus Re-engineering your career to find enthusiasm for what you do Is Rabbi Lapin against volunteering Finding balance by living in the past, present, and future What leaving a legacy really means Planning for your children's children's future Leaving your Legacy in trusted hands ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e41/

In this episode, we sit down with Rabbi Daniel Lapin. He enlightens us on the spiritual nature of money and the tragedy of resentment. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e40 Rabbi Daniel Lapin is the author of Thou Shall Prosper and Business Secrets from the Bible, among many other works. He is the President of The American Alliance of Jews and Christians and is an exceptionally gifted communicator. He reaches out to both Jews and Christians with Biblical money principles and ancient Jewish wisdom, mainly in regards to finance and business. And he has become one of America's most compelling and persuasive voices in defense of what he calls "Ethical Capitalism." Topics Discussed: Does God want you to be rich? What is money The case for the spiritual nature of money The instincts that hold people back The tragedy of resentment Defining spiritual and why it's important Rabbi's most useful pet of all, a chimpanzee The interplay of trust, faith, and money Why understanding what money is and how it behaves important

In this episode, we will discuss the three biggest whole life insurance myths so you can clearly see how whole life insurance could work for you. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e39/ We try to reveal some things, common myths, common outside-the-box thinking strategies to help you. And probably the most important one to us is this thing called the infinite banking concept, how become your own banker. And it uses this tool, whole life insurance, in a way that most everyone, including myself, including Holly, would have had no idea that whole life insurance could work this way. One of the things that we've certainly found is there are a lot of myths floating around. And these are certainly prohibiting people, due to things they've heard in the past, from even opening up to this new concept and on how to use this tool. Whole Life Insurance Myths Discussed: Is Whole Life too expensive? Rethinking how to use a policy today and secure tomorrow Payment Mentality vs. Deposit Mentality When and where term life insurance makes sense Is the rate of return on whole life terrible? On taxation Do you have to be young to purchase whole life? ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e39/

In this episode, we discuss the differences between Austrian economics and Keynesian economics. And will explain how you can use infinite banking to break free from the money manipulation of the Federal Reserve. ~ Get a Free Copy of The Tree of Wealth by reviewing this podcast here: https://livingwealth.com/review/ ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e38/ In episode 36, we covered hyperinflation, cryptocurrencies, infinite banking, and how all of them go hand in hand. And we talked a little bit about economics. Today, we're going to go deeper into Keynesian economics and Austrian economics. Which ones better? Which one presents the greatest benefit for you and society as a whole? And we'll even examine how infinite banking applies on a grander scale of economics. Economics, Federal Reserve Money Manipulation, and Infinite Banking: Keynesian economics Austrian economics When a dollar isn't necessarily a dollar The Gold Standard Nelson Nash and the creation of the Infinite Banking Concept The implications of widespread IBC adoption Take Aways: "I like the simplicity of the fact that in Austrian economics, one dollar is one dollar. If you don't have the dollar to represent the dollar, then you don't have a dollar." "In Keynesian economics, you're essentially saying a dollar isn't necessarily just one dollar. Most of us would say its kinda funny money." "The main difference between the two is that the Keynesians believe that there should be an authority manipulating the market, whereas the Austrians believe the market should be free and in control." "We say, a dollar today is stronger than a dollar in the future, just because of inflation and the economy." "You can break free from the system, and if we get enough people to really be their own bankers, we may be able to, in the grand scheme of things, kind of cripple this Federal Reserve system." Episode Resources: https://livingwealth.com/e38/

In this episode, we will discuss the power of using your imagination with your money. And we will deep dive on outside the box thinking that almost always produces better results than doing what everyone else is doing. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get show notes and resources here: https://livingwealth.com/e37/ This is a topic that rings true for us and our podcast. You see, there are reasons why like outside the box: Typically, things inside the box don't always produce success. And using the average strategies and tactics will end up netting you status quo finances. As the tagline of the show states, if you follow the heard you will be slaughtered. The average person goes along with what the crowd is doing without question. And they don't put much thought into it. They relinquish their control to an idea that it will all work out in the end. It has to; everyone else is doing it, after all. We challenge those beliefs and arm you with the knowledge to question conventional wisdom today. Financial Outside The Box Thinking Topics Covered: Rethinking and questioning 401K's How and why 401K's became so prevalent The long-term outcome of 'going with the flow' without questioning the destination A case story for teaching kids about money and generating passive income at the same time Rethinking and questioning the 529 plan When leveraging a Home Equity Line of Credit (HELOC) makes sense and doesn't Episode Takeaways: "There are reasons why like outside the box: Typically, things inside the box don't always produce success." "Most of us do a 401K, not because we necessarily believe in it, but because everybody else is doing it. Instead, start asking the question, "Why are you actually putting money into a 401K?"" "I've heard people verbatim say this: "We thought we were doing everything right." It turns out it wasn't enough or some extenuating circumstances took it away from their retirement." "You have to realize when you put your money even in a 529 program it limits you on what you're able to use it for, and it also can hinder even your kids and their financial aid in going to school" "Don't be afraid just because nobody else is doing that, that you're wrong. Think outside the box and question the status quo." "There can be times when it makes sense to use other people's money, whether it's a HELOC or other ways. A lot of people are so locked into trying to get to where they don't owe anybody anything, which is a good goal, but you may be letting the nickel hide the dime." ~ Get show notes and resources here: https://livingwealth.com/e37/

In this episode, we discuss the effects of hyperinflation on Infinite Banking policies. We also dive into the rise of cryptocurrencies and how you can remain flexible to navigate the issues that are on the horizon. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e36/ Hyperinflation, in a nutshell, is when a country's currency becomes devalued. And people lose trust in the money, consequently. We've seen hyperinflation in the US to a certain extent back in the 1980's. But we've never experienced anything like what took place in Zimbabwe here in the US. Some other countries, like Zimbabwe and the Weimar Republic, experienced hyperinflation to extreme levels. These are instances where the peoples of those countries were forced to carry around millions of dollars to fill up their cars with gas, sometimes trillions of dollars to do anything. So this is an almost foreign to us. The problem starts when a government decides to print more money. That's the number one cause of inflation: the increase in money supply. Just like anything in the world, when supply goes up, typically the price goes down. The same thing happens with money. When the money supply goes up, the value of the dollar becomes less; especially when other countries start to stop accepting the money. Then it can go out of control. This is when hyperinflation is experienced: Rapid inflation. This inability of governments to 'help themselves' can be said to be one of the contributing factors of the rise in popularity of cryptocurrencies. The big question here is this: What impact does all this have on IBC policies? We answer all this and more in this episode. Hyperinflation, Cryptocurrencies, and Infinite Banking Topics Discussed What is inflation What causes hyperinflation When governments and central banks lose the trust of the people they serve The rise of cryptocurrencies Crypto cryptocurrency confusion The impact of inflation and hyperinflation on IBC policies Is IBC as an investment or a bank Why we need to keep money in motion Giving money lots of jobs to make it work for you Episode Takeaways: "Hyperinflation is when inflation hyperinflation happens rapidly." "Many of us think, "We're in a hyperinflation state," yet we honestly don't know what it is. I would say we're totally headed there, absolutely, 100%." "The world is seeing that the governments entrusted with controlling the money supply is a dumb idea. So, that's why the cryptocurrencies are a thing." ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e36/

In this episode, Ray Poteet is back to share the Infinite Banking History with us. Ray's also going to be telling us exactly what he has done over the past 17-years with Infinite Banking. And he'll open up about the wealth that's been created by following the principles taught through these concepts. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e35/ Infinite Banking History Topics Discussed: Where did IBC (Infinite Banking Concept) come from When Ray first got introduced to IBC The time Ray became very upset with the insurance industry The time Ray met author R. Nelson Nash When the light really went off for Ray The seemingly impossible ways he's leveraged IBC Using IBC to keep money in motion Episode Takeaways: "As I read the book I became very, very upset. Not upset with the book, but upset with my industry. Why had it had not shared Infinite Banking with me?" " We went through twenty-six cars in twenty-five years... if I had the ability to use my policies on all of those cars, I would have $323,000 that I didn't have now." "all of a sudden I thought, "Well this would work for a vacation. This would work for an addition to the house, this would work for new furniture. If I had known this."" "one thing I've noticed at my age is a lot of people are concerned about running out of money. I can tell you I do not have that fear today." "Not that it's unhealthy to be a penny pincher but it really turns off the stimulation and kills your dreaming if you're worried about money all the time. You're not as productive or as creative." "your money's not locked up and you're thinking differently." ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e35/

In this episode, we have special guest Ray Poteet. He shares lessons on the importance of grandparents in the lives of their grandchildren. And we discuss how grandparents can their grandchildren grow with understanding about money how money works. Ray Poteet helped his grandchildren by what he's done with them and for them, especially financially. As many of you know, he's the founder of Living Wealth a mentor to the hosts of the show. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e34 Being a grandparent and now a great-grandparent, teaching other grandparents what he's learned is a passion of Ray's. So this is a special episode and topic to him. Speaking about money is often a taboo subject in most homes. But as Ray says, We teach them how to drive. We teach them how to run on a computer. [...] but we don't teach them about money. Yet, it took money to buy a car. It took money to buy a cell phone. It took money to go out to eat. It took money to take them to Disneyland. The item that we needed to do all those things we forget to talk to them about. So let's get to talk about money and other wisdom grandparents can share in this episode.\ Grandparents on Money Topics Discussed: The case for getting a parenting mentor Getting a grandparenting mentor Where to 'park' wealth to be of benefit to future generations Learning to actually talk about money At what age a policy can and should be started for a child Leveraging Infinite Banking Concepts to build a legacy The true destroyer of wealth and one way to guard against it The advantage of the grandparent's long view of time Changing money mindsets Episode Takeaways: It takes money to do most of the things we do every day in life. Yet, we forget to ever talk about money with our children and grandchildren. As a grandparent and great-grandparent, teaching about money is the greatest joy I have right now. And I have the tool to be able to teach them. I was so used to storing money. I was very fearful of not having enough. Now I'm more concerned if money is sitting and not moving rather than an amount of money. Teach them motion of money instead of money sitting. Teach them replenishing and recapturing instead of just spending money. The word God says knowledge is power. It also says in Hosea, "My people perish for lack of knowledge.

In this episode, we will discuss the three best money resolutions. These are simple changes can make for the new year that will actually make a difference in your life. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e33 We have just kicked off the new year. And everyone is trying to figure out what type of resolutions and goals they're going to set for themselves. I'm going to ask you this: Have you personally ever actually followed through with it a New Years resolution? Most likely the answer is no or not many. The intention is to follow through, and you do good for the first couple days, maybe even the first couple weeks. But then 'life gets in the way'. So we've come up with a few things that we think can really help people and are fairly simple to change. These are money resolutions they could actually achieve. Normally with a resolution, it's something you have to give up. Think of these as more of a call to action. They are money resolutions that can help you and your family. And they create a sense of accomplishment versus a sense of failure. Simple 2018 Money Resolutions Topics Discussed: Building emergency funds and rainy day funds Aligning what you do and what you believe Using money to accomplish what you want Setting an investment priority Following your passion to make investment decisions Being intentional with your charity Turning complaints into action Building a tribe of support with like-minded people Episode Takeaways: Even though they probably would rather do something else. They're not loving their 401K. Don't just stuff money into your 401K because you have been doing it. But instead, make a sophisticated decision. Stop doing things you don't want to do with your money just because you always did it that way. Do something you're passionate about with money. Start giving intentionally, not just going through the motions and almost checking it off the list. Words don't mean a lot. So stop talking about problems and start doing something about them. There is hope. That's the biggest thing: You can have hope and nobody can take that hope away unless you surrender it. Surround yourself with people that want to accomplish financial freedom alongside you.

In this episode, we take a close look at Dave Ramsey's advice on finance. We discuss who it's good for, who it's not good for, some things that he says that is great advice, and other things that some would say would be poor advice. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e32/ A lot of us know who Dave Ramsey is. He is on 500 radio stations across the US. Some of what Ramsey shares is good and some we would call poor advice. So you need to start asking yourself this question, "Does this make sense?" The best thing is that he helps people that do not know how to control their spending or to live within their means. And he does teach a disciplined approach to actually budget and live within your means. His advice and strategies are great if you're struggling to get a system in place that gives you the ability to start saving. The Best and Worst Dave Ramsey's Advice Topics Discussed: Who the advice is good for Who the advice is bad for The wisdom of having an emergency fund Budgeting and living within your means The advanced topics Ramsey leaves out How you're drawn into the stories and miss asking the hard questions When "buying term and investing the difference" isn't the right decision to make The different kinds of whole-life insurance policies and their annual growth rates The whole truth about mutual funds generating a 12% rate of return Doing the math on mutual funds for retirement The hidden fees not accounted for eating up wealth How whole life stacks up against mutual funds The differences between good debt and bad debt What the wealthy high-level financial players like Robert Kiyosaki do When Dave Ramsey doesn't follow his own logic and math with home mortgages

In this episode, we question the notion that you save money using tax-deferred programs. Typically, this is sold through funding your IRA or your 401K. We'll also clarify what we believe a real tax-savings is. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Show notes and resources from this episode can be found here: https://livingwealth.com/e31 We hear a lot from our clients come this time of the year saying, "Hey, I normally fund my IRA or my 401K because my tax bill is so high. The common thought is that you will save money on taxes by funding them. But we have a beef with this. It doesn't actually save money on taxes. It's a smoking mirrors type of thing. What people don't really understand is that on these deferred programs you're not actually saving any money on taxes. They're not called the tax savings programs. However, they are called tax-deferred programs. We discuss in more detail in this episode... ~ The Tax-Saving Hoax of Tax-Deferred Programs Topics Discussed: ~ * Doing the math * Tax-savings vs. tax-deferred * The long-term outlook on tax rates * IRAs and 401Ks * The impact of inflation * Opportunity costs * Leveraging whole life insurance policies Episode Takeaways: "When you put money into the tax-deferred program, you truly are eroding your wealth due to the time and inflation." "Every time you put money where you can't touch it, you're automatically guaranteeing the dollars that come back are weaker." "looking to reduce, not defer, but reduce taxes is to think how you can serve people and start a business."

In this episode, we discuss the fundamentals of ensuring a better financial future. We'll dive seeing the reality of your financial situation. And you'll learn how it's easy to achieve your goals when you have a solid understanding of where you're at right now. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e30 Today's episode is exciting for us to do because it relates very much to something we do every day with people. We try to help people get more comfortable with talking about money and bring a clear reality to where they're at. From there we can show them that it really is possible to get out of any financial situation that you found yourself in. The first step is just finding out where you're at. This is what we mean by reality. So, we're going to talk about seeing this reality and how to build roadmaps that lead you to success. But first, we unravel why some people are afraid to talk about where they're at financially. And we'll uncover why they're afraid of money in the first place. Ensuring a Better Financial Future Topics Discussed: Overcoming the fear of looking at and talking about money Understanding where your dollars are going and why Overcoming the fear of asking for help with money Why do people avoid outside advice What a financial GPS is and how to use it to get financially unstuck Building a roadmap out of trouble Episode Takeaways: "We know we're getting paid, we know we're paid good money, but it seems like even if we get a pay raise, that money's just gone instantly." "People get stuck with your own thoughts about money, and the problem is your own thoughts are what got you into the problem, to begin with." "The key to a financial GPS is we always need to know exactly where you're at in order for the GPS to mean anything and make sense." ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e30

In this episode, we will discuss how to leave a better legacy. And we'll share some practical tips you can implement that will help you leave a large and generational legacy for your family. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e29/ Leaving a better legacy is a topic that's dear to our hearts because we deal mainly with the world of life insurance. In episode 29, we're going to talk about some practical steps, as well as some philosophical ones, I guess you could Today, we're going to talk about some concrete steps. And we'll share some fundamental philosophies, so you can leave a better legacy that will last. Leave a Better Legacy Topics Covered: Figuring out how much money is enough Getting rid of poverty mentalities The Bible's stance on inheritance Ridding yourself of the scarcity mentality Setting bigger long-term financial priorities Developing and passing down money wisdom What we can learn from two of the wealthiest American families that ever existed How saving 10% is a myth that could hurt you Episode Takeaways: There are two mentalities we scrimp and we save so that we don't really live life at all. And we pass that mentality down to our kids. Biblically, it says in Proverbs that a good man, a righteous man, leaves an inheritance for his children's children. We ought to try to leave as much good with [our kids] along with the money [...] instead of having this scarcity mindset. With an [...] abundance mindset [...] if you start thinking about it that way, it will come to pass. ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e29/

In this episode, we'll discuss how you could easily make over $100,000 throughout your working lifetime by just changing where you hold your emergency money of all things. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e28/ Emergency funds are crucial to buttressing and protecting our financial life from unexpected catastrophes. But they're not always given the attention they should receive. And, when people do have them in place, they tend to actually lose money unknowingly. We run into this a lot, where we're teaching people how to use a policy to be their own banker and make a lot more money. But for some reason, there's a mental block, which keeps them from seeing their policy as a bank. They still see a bank account as a bank and a policy as something different. Nothing makes that clearer than when people talk to us about their emergency fund and how they would never want to move that into a policy or something like that. Today we're going to talk about emergency funds. How to use your policy as your emergency fund, how much more money you could be making with that, and really how a policy has all the characteristics that you would look for in a really great emergency fund. Emergency Money Episode Topics: What is an emergency fund Why should everyone have one Penalties and taxes for using money from your Roth or 401K in an emergency Stepping outside the "bank box" The problem with putting emergency funds in a savings account How Life Insurance companies are more accountable and safer than banks Episode Takeaways: It is the fund where you put extra money or cash in case you have an emergency, be it a medical emergency, be it the car breaking down, be it unexpected dental work -- anything unexpected. Emergency Fund: Liquid money that's easily accessible and it doesn't have any risk associated with it. It's not stuck somewhere. Over 30 years, you would miss out on over $130,000 if you left your emergency fund sitting in a checking or savings account compared to a policy. Even in the Depression, when thousands of banks went under, most insurance companies didn't go under.

In this episode, we will discuss how to end debt. You see, there is a difference between paying off your debt and recapturing your debt. And we'll explain how this works so you can finally get off the debt hamster wheel. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e27 There are some staggering statistics on the level of debt Americans are carrying. It's truly frightening. But it's vitally important that you change your mindset from merely, I want to get out of debt. This should change to wanting to recapture your debt. Getting out of debt is a topic speak with clients about every day, and that's the problem with debt. And whenever you adhere to the concept of becoming your own banker, you start to see ways of making a lot of money by recapturing your debt. The problem is that a lot of people know what we mean by recapturing debt. And there's one more step that needs to take place we share in this episode. How to End Debt and Recapture Your Money Topics: How bad is the debt crisis What is recapturing debt Using a policy as the engine The counter-intuitive way investing debt works Understanding asset-rich and cash poor Finding opportunities to teach children about debt Episode Takeaways: In 2017, we are in a greater financial crisis than we were in 2008 ... because we're carrying even more debt in the US. Household US debt currently in the first quarter of 2017 was $12.87 trillion, and that is all of us living on debt. We've got to learn to recapture debt, especially if we're going to bring down the debt in the US.

In this episode, we discuss a question that we've both been asked many times when it comes to banks vs. insurance. The question is, are mutual life insurance companies as safe as banks to put my money? The answer may surprise you. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e25 Banks vs. insurance, which is safer is something that we've been asked many times. It's a great question to ask, in fact. People are wanting to know their money won't disappear on them. And so, the common question we get related to infinite banking is this: "Is my money going to be as safe in the policy as it is, just sitting in a bank account. There's a lot of nuances there. We believe that it definitely is. There's a lot of reasons for it. Why would we present banks being riskier to put your money in, than a mutual life insurance company, and a policy there? Banks vs. Insurance Topics Discussed: The federal government and state government's role Austrian economics and why its role in insurance is important Leveraged money vs. Non-leveraged money Factors forcing insurance companies to play it straight with your money The myth and nuance of the FDIC banks protections argument Why banks buy life insurance policies Episode Takeaways: Insurance companies actually adhere to what's called Austrian Economics. They can't loan out money they don't have. Banks failed left and right, and are bailed out. No mutual life insurance company had to get any assistance.

In this episode, we'll discuss the reasons why you shouldn't be so excited about your tax refund, and maybe what you should do instead. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e24 This episode is going to be a fun one. We hear all the time, even in our realm of business, "Maybe I'll get started when I get my tax refund." Or, "I'm looking forward to getting my tax refund, then I'll finally have money." We have a different viewpoint on it. And we want to make sure everyone else understands, not only about the tax refund, but we also have some other things to say that you may want to implement. When you think about a tax refund, it's your money you already gave the government to use for a period, or they had it. Whether it be an estimated tax, or by the time you file the taxes, you get the refund. But, in reality, it was your money that you gave to the government to use, and then they just sent that money back to you. And they didn't send it back to you with interest payments. It's not the same dollars you sent them. It's different dollars, and yet we get excited because, "Yay, we get a refund." ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e24 Rethinking Tax Refunds Topics Discussed: Should you get excited about a refund Keeping your money in your control and working for you Ways of leveraging a policy to come out ahead Why Warren Buffet is rumored to differ paying his taxes for up to 7 years Episode Takeaways: I will say the IRS is the biggest robber of our wealth out there today. Why do I want to give the IRS good dollars today for them to give me weaker dollars in the future? Instead of giving that estimated tax over to the IRS, we've put it into a life insurance policy because the growth will pay any penalty.

In this episode, we sit down with a special guest, Ray Poteet -- the founder of Living Wealth. We discuss the biggest investment pitfalls to be aware of and how you can learn from his mistakes, so you won't have to suffer as he did. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e23 How to spot investment pitfalls is harder than experiencing them. And the road to growing your financial freedom is littered with landmines. Some are similar, but most tend to be unique and hard to spot the first time around. Sometimes we even repeat mistakes if they're not pointed out to us by a trusted guide. They're not hard to spot. You just have to know what you're looking for. And, Ray shares the worst of them in this episode. Get resources and transcripts here: Investment Pitfalls Investment Pitfalls Shared and Topics Discussed: The folly of looking at rates When an advisor doesn't own the things they sell The danger of chasing "the next big thing" When you should never borrow to invest Why money needs to always be in motion Staying platonic with investments and keeping with rational investment decisions

Is paying cash the best option? In this episode, we will discuss how you can learn how to maximize your dollars by changing how you purchase the things you need in life. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e22 In today's world of finance, the Holy Grail is to get out of debt and to be able to pay cash for everything. That's what we're taught by all the major financial gurus, pay cash, pay cash. Get out of debt, get out of debt. We're not saying that's a bad idea. But we can offer some insight into how you can improve your situation even further. That's going to be the goal for today. So is only using cash the best option? The answer: it depends. In fact, we think there are some better ways to do it. Get Out of Debt and Paying Cash Topics Discussed: * How can we find something else that's better than paying cash * What are some of the pitfalls with paying cash * Being asset rich vs. cash Poor * Is using cash necessarily bad * Good debt vs. bad debt * How to leverage debt in a financially healthy way * Why it's important to keep money in motion * The real cost every time you pay in cash Cash vs. Debt Episode Takeaways: * Every time you pay cash your money stops earning for you. * Really, we want to keep your money in motion. * There is a difference between bad debt and good debt. * A pitfall with paying cash are your asset rich, cash poor. ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e22

In this episode, we discuss the biggest pension myths, and how you can make the best decision for you and your family. To start, one of the most significant points to focus on in your pension is who to insure. People often ask the questions, "Do you just insure the individual who qualifies for the pension plan? Or if you're married, do you also include your spouse? And what are the pros or cons to including a spouse in regards to the pension plan?" You go, you work your whole life, you retire, and then they give you an option. It's to choose to get the monthly income just on you, or for you and your spouse. Of course, we're all concerned about the well-being of our spouses. When you first see the number, you say, "Here's the monthly amount of money I can receive from a pension with just me. And if I add my spouse, wow, that's a massive reduction." So it causes people some stress when they see the monthly reduction of money per month if they add their spouse to it. And there's so much more. Which, we'll cover in this episode to help you maximize your pension. Pension Myths and Maximization Topics Discussed: * Who to insure in your pension plan * Ensuring your spouse is provided for * Leveraging a dividend paying whole life insurance policy correctly * Where social security fits in, or doesn't * Can you count on your pension to be there when you retire * How to maximize your pension Pension Mythis Episode Takeaways: * If I die, the day after, she's set because I've been building life insurance banking policies to create wealth * If you only put money in a pension, you can't leave a legacy of wealth for your family. * So more and more, it's becoming a reality that pension programs are going out of existence. * Social security too is that it's constantly changing and who knows how long honestly, it's going to be around for. * With the city of Detroit going bankrupt. All the people who had pensions, guess what? They're gone. ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e21/

In this episode, we'll pick up where we left off in episode 19. We'll share how to build the perfect life insurance policy to use for becoming your own banker. The primary goal of this episode is to discuss why we do what we do. What it focuses on the life insurance policy is when doing banking. And, in the last episode, we shared all the reasons why you're not supposed to use other types of policies and other methods to design policies. So if you haven't listened to episode 19, we suggest you listen to it first because we went through a few important foundational points. And you may want to know that we're going to compare. When it comes to building your own banking system, the focus is not on benefit. Instead, we're cash focused. So the goal is to actually put as much of your premium dollars into a paid up additions writer as you can. Which will stuff the policy go straight into the cash value. And in this episode, we explain how this is all done. ~ The Perfect Life Insurance Policy: * The correct policy for use in Infinite Banking * What is a paid up additions writer and how is it used * What is a mutual company * Traditional Life Insurance vs. Infinite Banking * Being cash focused vs. benefit focused * Understanding guaranteed interest rate vs. guaranteed cash value ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e20 Episode Takeaways: * When buying a single premium writer, you're buying it strictly to have cash, and it buys you a little bit of guaranteed death benefit. * Without a paid up additions writer, the policy is going to underperform, and it won't be a banking policy. * Life insurance it's called life insurance. It's not called death insurance. It should be life giving, to an extent. * With banking, we're not benefit focused. You're cash focused. ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e20

Not all life insurance is created equal. In this episode, we discuss the biggest problems found in certain life insurance policies. And we'll cover why you would never want to use them in your banking system. Now, for those of our listeners who have been with us for a while, they know that we're big fans of a particular concept. It's called the "becoming your own banker" idea. It uses life insurance as a tool to practice banking in a brand new way. But the problem is that there are so many different kinds of policies out there. We have people come to us who have these policies, and they want to know if they're any good. So we describe to you a few of the policies to avoid, especially if you're doing this banking concept. Life Insurance Policies to Avoid Discussed: * Indexed policies * Universal variable policies * Term insurance * Hidden servicing fees and cost increases * Funny business with numbers * The fine print costing you control * What your agent needs to clearly explain to you Get resources and transcripts from this episode by visiting: https://livingwealth.com/e19 Episode Takeaways: * That's the issue with universal life is it may turn out okay, but that's not really up to you. * The insurance company has the control of the policy to determine what they're going to cap you at, so they can always drop the cap. * Banks don't buy these policies and there's a reason why, because they can't control what happens to that policy due to the guarantees and all the things that are given control over to the insurance company.

In this episode, we will discuss the three biggest wealth destroyers and also give you ideas of how to break free from their clutches. So much money is leaking from three areas that we're going to discuss. If people knew what was going on with their money that they're earning and saving, they'd be mortified. Bottom line: Taxes are the largest destroyers of wealth. But there is also a slew of other rats eating at your money. And sadly, most people don't even pay attention to them or know they exist. So we'll bring things to light and share with you how to protect yourself today. Wealth Destroyers Identified and Topics Discussed: * The taxes secretly robbing you blind * The 1.8 Million Dollar opportunity cost * Hidden impact of taxes on retirement programs * The sneaky money thief: inflation * How inflation becomes a compounding problem * Fractional Reserve Banking's effect on inflation * Credit Cards * Hidden fees in retirement programs * Hidden fees in mutual funds ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e18 Episode Takeaways: * 3+3+3 always equals 9. But when you put money into the game math doesn't work thanks to inflation. * We're taught to believe today's dollars are the same as tomorrow's dollars. They're not! * The biggest hidden fees are in mutual funds and retirement programs that go to the money managers. * Taxes, inflation, and fees rob people of enormous amounts of wealth. And they don't usually know it.

In this episode, we will discuss why you need to become your own banker, even if you have no debt. Get resources and transcripts from this episode by visiting: https://livingwealth.com/e17 We're often asked, "What if I don't have any debt?" Or "How does Infinite Banking work once I'm out of debt?" You see, a lot of people have been taught to take loans, and they pay off their loans. And people who follow this line of thinking don't have any debt. But what those people don't understand is that banks make just as much money off your deposits as they do on your loans. So, the reality is you might not have any debt, be making any mortgage payments, loan payments, or even credit card payments, but you are still depositing money into a banking system. In other words, the bank doesn't care if you deposit money with them or if you borrow money from them. They just want your money! The reason why you need to become your own banker is it's not just about paying off debt; it's about getting the bank completely out of your money. They are the ones who are conning us into believing that they're a good place to make money when in reality, they're the ones making a killing off of you no matter what chair you're sitting in. So join us as we deep dive on why you need to become your own banker. Become Your Own Banker Topics Discussed: * Common questions about becoming your own banker * How banks make money both ways * The tax implications of storing your money in a bank * The opportunity cost of not becoming your own banker * Who put your cash to work for you in unconventional ways * Building personal systems for wealth growth like a bank * Getting out of debt * Recapturing the interest you've previously paid everyone else Episode Takeaways: * Banks don't care if you deposit money with them or if you borrow money from them. They just want your money. * The dollar that we made in the bank savings account, we pay taxes on. * Banks make just as much money off of your deposits as they do on your loans. It may be time to be your own banker.

In this episode, we will discuss how to teach kids about money and the biggest mistake parents make. You see, there are three big mistakes parents make when teaching kids about money, and what you can do instead to help them have a healthy relationship with money. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation Get resources and transcripts from this episode by visiting: https://livingwealth.com/e16 How to teach kids about money is an underserved topic. It's also a very interesting topic because each person has their goals to teach with their kids. But there are a few common mistakes that people can make when teaching kids about money. These are points nearly everybody can probably agree with, to a certain extent. And in this episode, we also discuss the topic from two different perspectives: Parents of young children just starting to approach the subject and parents of more mature children needing to further the discussion. So join us as we dispell mythise and bring some sunshine to your outlook. Teaching Kids about Money Topics Discussed: * The importance and impact of practicing what you preach * Teaching kids about saving vs. spending * The credit card talk * Helping kids not make our mistakes * The importance of busting the magical money tree myth * The dangers of never formally discussing money with kids * Instant gratification and interest vs. saving for Episode Takeaways: * If you never discuss money with kids, as you're saying, it can just seem kind of magical to kids.

In this episode, we will discuss the biggest myths about paying for your children's college tuition. And we'll share with you how you can survive your children's college years without destroying your retirement. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e15 This is an exciting topic. The cost of college tuition spiraling out of control can cause a lot of stress on parents. They think it's up to them to be able to afford for their kid's college tuition. But it's not all financial doom and gloom. There may even be a way to make paying for college tuition painless. A lot of parents believe several major myths about being able to afford college tuition for their children. And these parents are planning on paying for college tuition without realizing that some of these myths aren't true. You see, the way colleges and universities determine financial aid and grants is very different from what most of us are taught to believe. So join us as we dispell mythise and bring some sunshine to your outlook. College Tuition Topics Discussed: * The mounting task of paying for college tuition * Dispelling the "I make too much money" myth * What factors college financial aid actually look at to determine eligibility * FAFSA (Free Application for Federal Student Aid) and what Expected Family Contribution is * How inherited capital and assets impact your child's chances of getting college financial aid and grants * How your 401K and IRA contributions can impact your kid's ability to get college financial aid * The limitations of 529 plans * How 529 plans can hurt you Episode Takeaways: * Even people who don't make a ton of money believe they can't receive any aid for college tuition. Not true. * The biggest thing that will prohibit you from getting any financial aid is if your kids have assets -- including 529 plans. * Approximately 5 to 6% of the family's assets are included in the Expected Family Contribution calculation * The family income—the perceived factor people stress about the most —is what colleges weigh the lease

In this episode, we will discuss how banks, the most profitable business in the word, have a monopoly on your money. And we'll share how you can break free from their scheme. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e14 We can talk about this thing for hours. But in this episode, we're going to nail down how banks work in under a one-half hour. In the course of explaining how banks work, we'll also discuss the inherent problems they create. And we'll shed light on infinite banking: becoming your own banker. ~ Banking Topics Discussed: ~ * How banks make money off of you * Why banks keep only a small amount of physical cash on hand * Why banks love credit cards so much * How to use Infinite Banking in place of a traditional bank * Paying yourself interest instead of a bank * Why we say "banks have a monopoly on your money" * Where the FDIC comes in * Are banks running a legal Ponzi Scheme Episode Takeaways: * Banks make money off of you by simply allowing you to deposit your hard-earned money into their bank. * Every deposit that someone makes at a bank is really like a little loan to the bank. * We're all lending money to the bank, and the bank puts it to work for themselves while charging you. * The most expensive money a bank has is the money that has to sit in their teller's drawer because it's not working for them. * We're paying the bank to use our own money. * That's the Ponzi Scheme that the banks run with our money right now.

In this episode, we will discuss how you can discern whether or not something is really too good to be true so that you don't get swindled by the next fly by night salesman. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation Get resources and transcripts from this episode by visiting: https://livingwealth.com/e13 We're in the type of financial business where we're privy to hear people say, "Wow! This sounds so good it might be too good to be true." And I know you've heard it many times talking with clients. But why do people say that? What do people really mean when we say the phrase, "It's too good to be true?" What's going through somebody's head when they say that? We give you the tools to determine what is and isn't "too good to be true" in this episode. ~ College Tuition Topics Discussed: * The most common financial strategies that people get burned by * Get-rich-quick-schemes to stay away from * Is the Infinite Banking Concept to good to be true * Why banks are the biggest buyers of Whole Life Insurance policies * The financial strategy even Walt Disney used to start Disneyland * The financial strategy used to get JC Penneys off the ground and again to survive the great depression * How you can get a guaranteed rate and tax-free growth on your money

In this episode, we'll discuss the implications of taxes on retirement. We'll address the biggest question that most people don't ask, but should be aware of, when putting money away for retirement. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e12 We've got a pretty exciting episode for you; it will focus on taxes on retirement. You see, there are various ways that people can be taxed while building wealth and when they retire. So we share some questions to ask yourself to determine which route is right for you. There are different ways taxation can impact your retirement plans. What we'll do in this episode is bring to light some things that must be considered and how different strategies can impact taxes on your retirement in the future. ~ Retirement Taxes Discussed: ~ * Retirement wealth vehicles and options * IRAs * 401Ks * 403B's * Whole Life Insurance * Stock Market Investments * Pension Plans * Real Estate * How your lifestyle may have to be reduced in retirement because of unexpected taxes * The myth of being placed in a lower tax bracket upon retirement * The reality of how much you'll need to live on in retirement * The deductions you'll keep and lose * The future of Social Security * The affect of income on Social Security taxation * The affect of income on Medicare premiums Episode Takeaways: * The last time taxes were decreased was when Reagan was president. So chances are you're gonna be in a higher tax bracket when you retire. * Tax laws that are in effect today can change at any point, and so you might believe it's not gonna be taxed in the future. * You could be living off hundreds of thousands of dollars a year inside of a policy and nobody would know.

Is fear impacting your wealth? In this episode of Dollars and Nonsense, Holly and Nate dig up the root of your financial worries and set out a plan to eliminate it. If you desire to provide a family legacy for future generations but aren't eager to reduce your lifestyle, listen in and learn how to build your wealth differently. Escape the doubt and fear by taking charge of your money and thinking outside the box. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e11/ ~ Episode Takeaways: * We've been programmed to let a lot of fear and worry control our lives and give control of our money over to banks and the government. * If you would learn to kick the bankers out of your life . . . you would be able to make so much money on your money. * If we would actually pay ourselves first, we would save first. [Be] a saver first and then the spender. * Changing a loan from somebody else's bank back to you [turns] a liability into an asset, which is how the wealthy build their wealth. * The focus that the world has put us into is work hard and buy some assets and hope that those assets generate you a rate of return. * Build wealth that doesn't force you to reduce your lifestyle to be able to afford the things you want to do in the future. * Creating loans to recapture your debt [will] create assets and a better lifestyle for you and leave a lasting legacy for your family.

Health care expenses are rising for most American families, and the costs don't seem to be settling anytime soon. In this episode of Dollars and Nonsense, Nate and Holly explain the lesser known alternative options in health care that can save your family's wealth and give you ease of mind, all while growing your money along the way. When you get all the facts and think outside the box, there's no need to be scared of healthcare. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e10/ Episode Takeaways: * See how universal healthcare affects your family * Learn why you should rethink premiums * Discover health care sharing ministries

What does a football coach and the University of Michigan have to do with building your wealth? In this episode, Nate and Holly unpack a recent contract negotiation that teaches us the multiple benefits of life insurance. Listen in as the hosts discuss how a life insurance policy has been used to help some of the most influential businesspersons and how it can help you in the same way. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e9 Episode Takeaways: * Why the wealthy buy so much life insurance * How the middle class can use a policy like the rich * How life insurance can be more than just a death benefit, and * How to step up your charitable giving without falling behind.

In this episode, Nate and Holly share the three key steps to breaking free from burdensome debt and never returning to it. Learn how to get serious about the bills crippling your wealth goals and how to change your financial outlook moving forward. Don't let your debt control you any longer. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation ~ Get resources and transcripts from this episode by visiting: https://livingwealth.com/e8/ Plus, Nate and Holly offer more tips on how you can: Be the architect of your financial plans Identify the debt that's dragging you down Recapture your debt Charge yourself interest and profit from it ~ Episode Takeaways: Get serious about getting out of debt. Make it a desire instead of trying to live off a whim. Actually get a plan. Banks are the biggest buyers of whole life insurance in the world. Would they buy a product that didn't produce money for them? Some don't live with a plan. If there's no plan to have money, there never seems to be any money. Be the architect of your life. The easiest way to do that is to get rid of all those hands in your pocket from the banks. Start saving money in a policy. Use the policy to take over the debt and start paying yourself exactly what you were paying everyone else. You can get out of debt much quicker than you thought you could just by simply changing your process and getting serious about it. Your dollar is just as valuable as any dollar you had borrowed. So you need to charge yourself interest.

In this episode, Nate and Holly offer the keys to escaping financial bondage. As many Americans become slaves to debt, our hosts reveal how you can separate yourself from the herd's mentality by paying yourself first and having your money work for you. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation For more resources, visit livingwealth.com/e7 Listen in as Nate and Holly also touch on: * The benefits of living on less than you make * How financial freedom can lead to financial success * Budgeting around your savings * Why you should direct deposit to yourself

In this episode of Dollars and Nonsense, Nate and Holly discuss how your investor could be deceiving you when it comes to your average rate of return. This manipulative trick can disrupt your financial goals without you even knowing it. Tune in to hear how you can be proactive in your banking and separate yourself from the crowd to gain real wealth. ~ Access our FREE Infinite Banking Beginner course here: https://livingwealth.com/beatinflation For more resources, visit livingwealth.com/e6 Plus, learn the "Wal-Mart approach" to becoming wealthy that has created one of the most prosperous businesses in the world. Find out: How you can still lose money with a positive average rate of return Why investors are lying about your rate of return How not to fall for your investor's advice How to recapture money that's leaving Why you should choose a whole life insurance policy instead.