The Infinite Wealth Podcast

Schedule your 15 minute call with Anthony or Cameron here: http://bit.ly/iwc15podcast In this episode we are highlighting pages 41 – 47 of Nelson Nash's book Becoming Your Own Banker. We outline the five methods of having use of a vehicle (Lease/Finance/Cash/CD/IBC) and review the two methods that are actually profitable (CD/IBC). Check our on-line course at www.InfiniteWealthCourse.com Resources: Video walkthrough of the CD vs IBC http://bit.ly/3anUHDO Buy Becoming Your Own Banker by R. Nelson Nash http://bit.ly/BYOBbookIWC Nelson Nash documentary http://bit.ly/NelsonDoc

Schedule your 15 minute call with Anthony or Cameron here: https://calendly.com/infinitewealth/15mincall In this episode we interview Todd Mardis, President of Capital Preservation Services. Capital Preservation Services places a high degree of focus on income tax planning for clients paying in excess of $75k in Federal Income Taxes. Todd is joined by one of his tax attorneys, Walt Dallas as we discuss the topics listed below and many more: What about CPS makes them different than any other accounting firm Do clients need to change their current CPA if they choose to work w you Why most CPA's do not provide tax advice or tax planning? Why are most CPA's conservative? What is the difference between a tax attorney and a CPA? How does a client prove their deductions and what type of inhouse help do you provide? What to do if you get audited? Check our on-line course at www.InfiniteWealthCourse.com Resources: https://cpsllcms.com/

Schedule your 15-minute call with Anthony or Cameron here: http://bit.ly/iwc15podcast

Schedule your 15-minute call with Anthony or Cameron here: http://bit.ly/iwc15podcast

Schedule your 15 minute call with Anthony or Cameron here: https://calendly.com/infinitewealth/15mincall Check our on-line course at www.InfiniteWealthCourse.com In this episode we discuss (a few) reasons why we do NOT recommend IUL's for use with the Infinite Banking Concept. We do our best to give an overview of some of the pitfalls without getting too far into the numbers and for those of you that have more questions and want additional resources you can go to our website (www.InfiniteWealthConsultants.com/IUL. Here you can watch video's highlighting the math behind IUL's, the differences in IUL illustrations vs WL illustrations, the costs in an IUL Policy as well articles from The Wall Street Journal, Bloomberg and a Warning from the State of New York regarding IUL Policies (and much more). In this episode we discuss the following topics: What are the differences between Universal, Variable and Indexed Universal Life? Mixes stock market with insurance How the risk is shifted from the insurance company to the policy owner Can IUL policies go Bankrupt? Cash Value vs Surrender Value...What's the difference and why is it important? Will an IUL help you achieve your goals? Additional Resources can be found at www.InfiniteWealthConsultants.com/IUL Video: The Math Behind IUL's Video: The Differences in IUL and WL Illustrations Video: The Costs inside of an IUL Policy Link: Warning from State of New York on UL Policies Link: Bloomberg Article by Michael Burry (Christian Bale's Character in the Big Short) Link: Wall Street Journal Article addressing the pitfalls of IUL's And MUCH more!!

Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/infinitewealth/15mincall Check our on-line course at www.InfiniteWealthCourse.com In this episode we interview Blake Johnson, Managing Member of Trusted Estate Planning Attorneys. He shares his insights on Nevada Law in regards to Business and Estate Planning as well as his reasons for practicing the Infinite Banking Concept. Here are the list of topics covered in this episode: Is estate planning only for wealth people? Ways to avoid probate court Difference between a living will and a trust Two main reasons in determining whether you should have a trust or not? Guardianship over minor children Life Insurance and Trusts – Should my LI policy be owned by my trust? Which is best to have as my beneficiary: A trust or an individual? Estate planning through the ages How does the level of creditor as well as asset protection of cash value life insurance in the state of Nevada compare with other states? Nevada Asset Protection Trust: "untouchable for spousal support and child support Rental Real Estate: Should it be owned in a trust or an LLC? What is a Series, LLC and should real estate investors use one? Downside of using a Series LLC? If I finance a house in my personal name can I move it into an LLC? How his internship at NW Mutual introduced him to the financial industry and how this played into his decision to practice the Infinite Banking Strategy. Resources: Blake's website: https://trustedepa.com/ Blake's Podcast Link: https://trustedepa.com/podcast/ Blake's Book: https://www.amazon.com/You-Cant-Take-Planning-Questions/dp/1544707096 Your cash value is protected in Nevada SB348: https://www.leg.state.nv.us/Session/76th2011/Bills/SB/SB348.pdf List of asset protection by state for Cash Value Life Insurance: https://www.actec.org/assets/1/6/Survey_of_Asset_Protection_Techniques.pdf Tax Free Wealth by Tom Wheelwright, CPA: https://www.amazon.com/Tax-Free-Wealth-Permanently-Lowering-Advisors/dp/1937832058 The Obstacle is the Way: https://www.amazon.com/Obstacle-Way-Timeless-Turning-Triumph/dp/1591846358

Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our online course at www.InfiniteWealthCourse.com In this episode we dive deep into Hard Money Lending: What it is?/How it works, etc...We interview Stephen Sinko with 5th Bridge Funding and discuss the following topics: What is Hard Money Lending? How it is different from other funding options The reasons why somebody would need Hard Money? Opportunities in Hard Money Lending for Investors as well as borrowers What are points? What is typically charged upfront? Hard Money Misconception #1: HM Lenders are Predatory Hard Money Misconception #2: Only Broke People use Hard Money How HM Lenders are protected Due Diligence that should be done when researching HM Lenders Resources: Stephen Sinko Cell: 702-281-2304 Email: [email protected] https://www.5thbridgefunding.com/

Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our on-line course at www.InfiniteWealthCourse.com In this episode, we interview Dennis Martin, President of Individual Life and Financial Services and Steve Cox, Vice President of Product Development of Individual Life and Financial Services at One America. We discuss many of the reasons why One America is one of the companies we recommend to clients. In this episode we discuss the following topics: What are dividends? And how are they calculated? Should we be comparing declared Dividend Rates amongst competitors? How does the insurance company view the PUA Rider? How the new CSO tables will affect policies moving forward? What kind of impact does our current low-interest-rate environment have on mutual companies? If this trend continues what some options insurance companies may exercise? What is the difference between Direct Recognition vs. Non-Direct Recognition? Which one is One America/AUL? Policy Loans Why One America charges loans interest upfront? What is the benefit of this? Benchmarks One America is proud of – Why we use One America and will continue to do so Whole Life vs Universal Life – AUL's Perspective Quotes: "Remember it's a savings account, not a checking account." - DM

Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our on-line course at www.InfiniteWealthCourse.com On this episode we interview Alexander Scott Felice. Alex has built a portfolio of Single Family Residences using the BRRRR Strategy and has recently acquired his first Multi-Family Property. He is an avid reader as well as a respected contributor to Bigger Pockets. He shares his insights on his website https://www.brokeisachoice.com/ Alex covers the following list of topics: How he got started in Residential Real Estate? What is the BRRRR Strategy? What is Delayed Financing? Where he is buying his properties? How's he's built his team from 2,300 miles away? He discusses how much time he actually spends managing his properties How to build your network How "passive" is his portfolio? Best Advice: "Read everyday and start your own website" - ASF Quotes of the interview: "You don't deserve anyone great when you get started" - ASF "Plan to get better….both you AND your team" - ASF Resources: https://www.brokeisachoice.com/ https://www.biggerpockets.com/users/AlexanderScott https://www.biggerpockets.com/blog/diy-is-dead https://www.amazon.com/Antifragile-Things-That-Disorder-Incerto/dp/0812979680 https://www.amazon.com/Big-Debt-Crises-Ray-Dalio-ebook/dp/B07GLBHM48 https://www.amazon.com/Fooled-Randomness-Hidden-Markets-Incerto/dp/0812975219 https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555 https://www.amazon.com/Capital-Twenty-First-Century-Thomas-Piketty/dp/0674979850

Join us as we continue going through Nelson Nash's "Becoming Your Own Banker." This episode we discuss The Human Factors: Parkinson's Law-"Work Expands to meet the time allowed" , "a luxury once enjoyed becoming a necessity" & "expenses rise to meet income" Willie Sutton's Law- "Wherever wealth is accumulated some will try to steal it" The Golden Rule- "Those who have the gold make the rules!" The Arrival Syndrome- "already know all there is to know!" Links: Links: Video comparing paying cash vs IBC http://bit.ly/CashVsIBC Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our on-line course at www.InfiniteWealthCourse.com Nelson Nash documentary http://bit.ly/NelsonDoc Buy Becoming Your Own Banker by R. Nelson Nash http://bit.ly/BYOBbookIWC

Listen to Gary's story on how he quick his job and created his own business flipping and renting real estate. Links mentioned in the podcast The Infinite Wealth Facebook Page https://www.facebook.com/fasocpa/ Link to Bigger Pockets Podcast: http://bit.ly/2MgFxqf Link to a previous podcast interview: http://bit.ly/2B8xeGB Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our on-line course at www.InfiniteWealthCourse.com

Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our on-line course at www.InfiniteWealthCourse.com Nelson Nash documentary http://bit.ly/NelsonDoc Buy Becoming Your Own Banker by R. Nelson Nash http://bit.ly/BYOBbookIWC

Schedule your 15-minute call with Anthony or Cameron here: http://bit.ly/iwc15podcast In todays episode we discuss one of the most common questions we get from parents.... "Should I have a policy on my kids?" Anthony and Cameron share their own experiences with owning policies on their children and dive into the pro's/con's of funding a policy vs funding a 529 plan for college (and beyond). We hope you enjoy this discussion and look forward to answer YOUR questions. Should I have a policy on my kids? Owner, Insured, Beneficiary Tax implications of GIVING your child a policy "Educational Savings Plan" vs. 529 Plans Pro's/Cons of Cash Value Life Insurance How to use IBC to teach our kids about money Project Nintendo Switch Check our on-line course at www.InfiniteWealthCourse.com Resources: Eight Perspectives on Prosperity Economics

Schedule your 15-minute call with Anthony or Cameron here: http://bit.ly/iwc15podcast Today we interview Liz Nowlin from Mid-South Home Buyers as we discuss Turn Key Real Estate. She explains what Turn Key Rental Properties are and why they are a great option for investors looking to create passive income. She highlights the process Mid-South goes through from finding a house, fixing it up, finding a tenant and ultimately managing it for their clients. Additional topics include: -Liz Nowlin with Mid South Homebuyers explains what turnkey real estate investments are? -Liz discusses how to shop for turnkey investment properties, regardless of the market your investing in -What to look for in a reputable turnkey provider? She provides 19 due diligence questions that every investor should be familiar with when looking for a reputable turnkey provider. -Liz provides insight on what new investors are typically focused on vs what experienced investors focus on and how they analyze properties. -What types of markets are turnkey properties found? -She discusses the systems they have in place to work with clients all across the U.S. as well as 17 different countries Check our online course at www.InfiniteWealthCourse.com Resources: Liz Nowlin's Bio: https://midsouthhomebuyers.com/meet-our-team For more information, you can email Liz: [email protected] To find out more about Mid South Homebuyers, visit: https://midsouthhomebuyers.com A list of the Due Diligence questions referenced in the show can be found: https://midsouthhomebuyers.com/due-diligence

Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our online course at www.InfiniteWealthCourse.com In this episode we are reviewing pages 19 – 20 of Nelson Nash's Becoming Your Own Banker titled "How to Create a Bank Like the Ones We already Know" Ideas discussed include the following: How Banks work on a community level....where do they get the money they lend? Bank of America Example Regardless of what industry you are in...you also need to be in the banking business To understand the concept of Infinite Banking there are two functions you must spend some time learning: How banks make money Whole Life Insurance Contract: The best place to store cash

Are you worried about getting sued and losing your assets to creditors and predators? Each state has some level of asset protection for the cash value of your life insurance, but what about your investments, your business, and your home? This episode is from a webinar we did with attorney Robert Bolick to discuss how you can protect just about all of your assets. Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our on-line course at www.InfiniteWealthCourse.com

Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our on-line course at www.InfiniteWealthCourse.com Buy Becoming Your Own Banker by R. Nelson Nash http://bit.ly/BYOBbookIWC

Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our on-line course at www.InfiniteWealthCourse.com On today's episode we interview Sarah Brown, with Pinnacle Franchise Development. Sarah has tremendous insight that she's able to share with our listeners as she has owned her own Franchise, worked as a franchise Broker and Consultant and currently she oversees Franchise Development for two national brands. A list of the topics covered in this are as follows: Who buys franchises? What is the biggest misconception of owning a franchise? How passive are franchises? What type of experience is necessary for a franchisee? Spectrum of Franchise's: Retail - Service If someone is interested in franchise ownership, where should they start? Best due diligence practices Retail vs. Service Franchises Serial Franchisors Franchises: Millennials and Gen X How does a recession affect franchise ownership? Resources mentioned: SBA - Business or Franchise? Differences and benefits and downside of each: SBA - which type of business should I buy? SCORE - Volunteer Counselors and classes: SCORE - Find a Local Counselor IFA (International Franchise Association): Largest Trade Organization for Franchising: IFA Website Franchise 500: Entrepreneur.com's List of Franchise Rankings: Entrepreneur.com Franchise 500 Franchise Dictionary - Rankings and good online resource: Franchise Dictionary Gamechanger Franchise Consultants/Brokers - help find the right franchise - FranNet is a Franchise that helps people find the right franchise or determine if franchising is correct for them: FranNet Find your Local Consultant FBR (Franchise Business Review): Rankings and resources: FBR ROBS: https://www.irs.gov/retirement-plans/rollovers-as-business-start-ups-compliance-project

Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our on-line course at www.InfiniteWealthCourse.com Is IBC a Scam? A CPA's Perspective http://bit.ly/isIBCaScam Nelson Nash documentary http://bit.ly/NelsonDoc Buy Becoming Your Own Banker by R. Nelson Nash http://bit.ly/BYOBbookIWC

What this episode is about: In this episode we discuss the Hierarchy of Wealth which is a blueprint for how you should build wealth. We will discuss which account is best for storing your opportunity fund and we discuss what banks say you should do with YOUR money versus what they do with THEIR money. Abraham Maslow was a psychologist in the 40's and 50's and was well known for his Hierarchy of Needs model. This idea states that a lower level must be completely satisfied and fulfilled before moving onto a higher pursuit. We apply Maslow's framework to money in a model that we call The Hierarchy of Wealth. This model is made up the following four tiers: Tier 1: Cash/Cash Values Tier 2: Control Tier 3: Collateral Tier 4: Speculation When people begin saving money where are they told to begin: Tier 1 or Tier 4? Cameron and Anthony discuss why people begin saving in Tier 4 and ask if it makes sense? Mentioned in this episode: https://www.barryjamesdyke.com/the-pirates-of-manhattan https://www.amazon.com/Myth-Revisited-Small-Businesses-About/ How to save 20% on your lease – YouTube Video WL compared to an investment account – YouTube Video Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our on-line course at www.InfiniteWealthCourse.com

Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our on-line course at www.InfiniteWealthCourse.com

Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansenlv/15min Check our online educational platform at www.InfiniteWealthCourse.com When Anthony first heard about the Infinite Banking Concept, we went to various typical financial planners that we worked with through his CPA first to see why IBC would not work. One told him that the commissions were "very high." In actuality, the way an IBC policy is designed, the commission is one third the amount of a typical life insurance policy. Another told him that he could "earn a higher rate of return" doing something else. In actuality, IBC is not an EITHER/OR. IBC is an AND asset. When you have an opportunity to make more money, with IBC you can use your policy to invest in other investments. Cameron was concerned about the stability of the life insurance companies and if he was the only person doing this. The companies we use for IBC must meet the following criteria: A mutual company (owned not by stockholders but policyholders) Over 100 years old Paid dividends EVERY one of the 100 years Support the Infinite Banking Concept During the last financial crash, 499 banks went under. Do you know how many mutual insurance companies failed? ZERO IBC has not hit the mainstream however; banks and the wealthy have been using these concepts for over 100 years. We are working on a platform for people that practice IBC to share ideas on how they use their policies and ways to create passive income and build wealth outside of Wall Street. Stay tuned for more details.

LINKS: Rates of Return: https://youtu.be/I5x7PWBSgaI Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our online course at www.InfiniteWealthCourse.com Buy the book Becoming Your Own Banker: https://www.amazon.com/dp/B001NZO1DS/ref=cm_sw_em_r_mt_dp_U_xvvjDbAZAP94H

Schedule your 15-minute call with Anthony or Cameron here: https://calendly.com/anthonyfaso/15-min-phone-call https://calendly.com/cameronchristiansen/15min Check our on-line education platform at www.InfniteWealthCours.com You can contact Kim Walker CPA https://kimwalkercpa.com/ or [email protected] Business returns The biggest news for businesses is the 21% tax rate on C Corp income. This is quite a reduction in rates from prior years and may mean that C Corps become more attractive. This is not a scaled or progressive tax. It is a flat tax for all levels of taxable income. For business returns in 2018, we have lost the deduction for entertainment. This includes seats at sporting events and theatres, golf tee fees, night club table fees, hunting or fishing trips, etc…. Business meals are still 50% deductible. This is the year to buy new equipment or office furniture. Assets purchased before the end of 2022, will be subject to an accelerated depreciation method called bonus depreciation. In most cases, you will be able to write off 100% of the cost of the asset as a current year tax deduction. We can also take advantage of an increase in the maximum deduction allowed for qualified section 179 property from $500,000 to $1 million. The rules for depreciating business passenger vehicles have become more generous as well. A new or used vehicle placed into service in 2018 will be able to take bonus depreciation of $8,000 plus an additional maximum of $10,000 of regular depreciation for a total of a potential $18,000 write off in year one. Keep in mind that mileage logs are still required to establish the qualified business usage of the vehicle. New pass-through deduction We have a new pass-through deduction the Qualified Business Income (QBI) available to owners of pass-through entities such as Sub S corporations, partnership, sole proprietorships and rental activities. The maximum deduction available will be 20% of the qualified business income of the pass-through entities. If you are a personal service company, restrictions will apply if your taxable income is over $315,000 but less than $415,000. Once your taxable income exceeds $415,000 the deduction is disallowed. If you are not a personal service company, you also have additional tests to apply after your taxable income exceeds $315,000 but there is no upper cap on taxable income. The QBI deduction can never exceed 20% of the modified taxable income which is taxable income reduced by capital gains including qualified dividend income. Personal returns As with corporations, we have new limitations on deducting net operating losses on personal returns. The deduction is limited to 80% of the taxable income. This means that an NOL cannot entirely wipe out taxable income in any given year. Unused portions will be rolled forward. A big change for 2018 is in the deductions arena. We have lost: Moving expenses The alimony paid deduction for divorces executed after December 31, 2018 The domestic production activities deduction The deduction for taxes paid – state income and property – are now limited to $10,000 per year. Not terrible for Nevada residents but potentially devastating to California residents. Mortgage interest is limited to acquisition debt of $750,000 for homes purchased after 2017. This used to be $1,000,000. Excess interest paid is lost, not rolled over. Interest on home equity debt used to pay off personal credit cards or auto loans, will not deductible in 2018. All itemized deductions subject to the 2% limitation which includes investment fees, safety deposit box fees, tax return preparation fees, unreimbursed employee job expenses, estate planning fees, and home office for employees The exemption credit for children. In 2017 this deduction was $4,050 for each person in the house. In 2018, this deduction is zero. In other words, you will not get a better tax break for having more children or a bigger household. The standard deduction has been raised to $24,000 for married couples. Many taxpayers will use the standard deduction in 2018 rather than itemize their deductions. It will net them a better tax break. The child tax credit has been increased from $1,000 to $2,000 for children under 17. The credit begins to phase out at a modified AGI of $400,000/200,000 in income. Up to $1,400 of the credit may be refundable. Educational plan funds (529 plans) can now be used to pay for K-12 private school tuition for up to $10,000 per year.

Welcome to the Infinite Wealth Podcast. On this episode we cover: How Anthony J. Faso become a "Recovering" CPA How Cameron Christenson went from founding his own company to the co-host of this podcast. The 5 Pillars of Wealth 1. Invest in Yourself-no investment will produce better results than investing in yourself 2. Your Own Business-invest in business that you own, control and are an expert in. 3. Real Estate-creates passive income with tax advantages. 4. Lending-Act like a bank and collect interest from others, with collateral fo course 5. Infinite Banking Concept-use high cash value whole life insurance protects your cash from Creditors, Predators, and SENATORS. Plus you can leverage your policy to invest in the other 4 pillars. You can learn more at www.InfiniteWealthCourse.com & www.InfiniteBanking.org