Without the Bank Podcast

Wealthion had a great podcast interview that I sum up here as best I can. The moral is, the gov't created a "solution" that is now creating a problem for which they can create another "solution". The opt-out 401k option is not actually helping but could hurt the market, depending on employment rates. Take a listen; there is a lot here. Audio Production by Podsworth Media - https://podsworth.com

Every one of us is a salesperson to some extent, yet so many folks are up in arms over people selling them something. Listen in and challenge your thought process. Audio Production by Podsworth Media - https://podsworth.com

It's about that time of year where parents have college coming up to pay for. Student loans are a joke, and parents are being stuck with the bill. Society has said, pay cash for your kids and never have them pay you back. There are better ways, and you as the parent need to stop using your retirement to pay for the kids' college. Audio Production by Podsworth Media - https://podsworth.com

I stay away from the news for a reason, but I figured I'd take a listen this week, and now I'm mad. We are supposed to lose jobs in order to stop spending and get back to where the gov't thinks we should be. The thought process around this is absurd! Audio Production by Podsworth Media - https://podsworth.com

Why is it that so many of us forget so quickly that we lost money in a market fall? As soon as that rate of return increases, we relax and believe all is good in the world again. Why are we not paying attention and remembering what happened to our money just a year ago!? Audio Production by Podsworth Media - https://podsworth.com

If you have a business that is going nowhere fast, have you asked why? Is it because you don't love it, are you in your own way, or are you not filling your head with the right stuff? Get out of your head, open your mouth, and start working on your business. If you can't do that, then evaluate if you are doing the right thing. Audio Production by Podsworth Media - https://podsworth.com

Here is an example of why Uninterrupted Compound Interest is what you want when looking at interest on anything you're saving. Many talk about compound interest, but they don't talk about what happens when it's interrupted. Audio Production by Podsworth Media - https://podsworth.com

In order to make IBC work with life insurance, you want to have a PUA rider on the policy. In this episode, Ii explain what it is and how it works. Audio Production by Podsworth Media - https://podsworth.com

"It's too good to be true," is what many think, but in reality, there are no deals, and that is what keeps it real. IBC is set on a foundation of truths, and many are not understanding those truths. Audio Production by Podsworth Media - https://podsworth.com

As couples, we can do things together and be successful or we can silently support the other. What we can't do is fight with our partner and expect to make progress. That is an uphill battle, and it's proven when we look at business owners who have both people on board. Audio Production by Podsworth Media - https://podsworth.com

There is a difference between reading the book and re-reading the book. You will not get everything on the first pass! Audio Production by Podsworth Media - https://podsworth.com

You get to choose to muddle through your business or have someone help you grow your business quicker and faster. What is the cost to do that, and are you willing to pay someone to help you get there faster? Audio Production by Podsworth Media - https://podsworth.com

Auto-enrollment in 401K programs is a newer thing. This was not done when I was working for others as an employee. Today, companies automatically enroll you in their 401K program, and many are not aware. Please pay attention to what is happening, and ask the question of whether you want the money there or can use it for something better. Audio Production by Podsworth Media - https://podsworth.com

Many think staring a whole life policy on someone younger is better. It is not if you want to pass on generational wealth and have a "Rockefeller effect". This is where having an IBC practitioner is important to help you strategize. Audio Production by Podsworth Media - https://podsworth.com

Are you willing to admit when you've made a mistake? If not, that is when you have truly failed. Successful people don't blame others for their failures; they look internally, recognize what they did wrong, fix it, and move on. So many people believe someone owes them something because they deserve it. You don't deserve anything. If you make a financial mistake, then figure it out and move on. No one should bail you out of that. Audio Production by Podsworth Media - https://podsworth.com

Let's pick apart advisors' advice. Their thought process is a bit broken, and some things are hidden in their content. Let's tell the whole truth. Audio Production by Podsworth Media - https://podsworth.com

Making a change is not a one-time activity. If you want to be the banker, keep yourself engaged in IBC thoughts and re-read the books. Audio Production by Podsworth Media - https://podsworth.com

Stop being fake; be real and think big. You will go places. Don't allow yourself to hold you back. Audio Production by Podsworth Media - https://podsworth.com

While trying to get ahead in life, so many folks are leveraging themselves to the point of trouble. This is what Nelson did, and learning from these mistakes is where the Infinite Banking Concept came from. Have you caught the Disease of More? Be careful and pay attention to what you are doing so you don't find yourself over-leveraged, even if you are borrowing from your policy. Audio Production by Podsworth Media - https://podsworth.com

Infinite Banking is such a different way of thinking, and we tend to make it harder than it is. We compare it to things we shouldn't, we compartmentalize money, and we struggle with loan paybacks. We have been conditioned not to think and our imaginations have been stifled. Quit making it so hard and get creative! Audio Production by Podsworth Media - https://podsworth.com

People love to blame banks for their financial difficulties, but are they really the ones who bear most of the blame? Audio Production by Podsworth Media - https://podsworth.com

So many people use lump sums of money to start a business but never actually pay themselves back. This makes your books look better than they really are. This was not a free loan to yourself; you must pay it back. Audio Production by Podsworth Media - https://podsworth.com

Are you actually doing your due diligence on what to do with your money, or are you like most of America, just a bunch of sheep? When you come across IBC, you then are labeled a black sheep, and we welcome you here, but you have to understand that you question things while most do not. Audio Production by Podsworth Media - https://podsworth.com

So many people put money into their 401K but don't know the rules. These are not officially hidden, but it seems as if employees don't know on purpose. Audio Production by Podsworth Media - https://podsworth.com

So many people find the infinite banking concept and think it's illegal. In this episode, I explain why I believe we have lost the knowledge of this 200 year-old product and why you need to listen to people who are educated on it. Audio Production by Podsworth Media - https://podsworth.com

Fair warning: this is a rant! ...and I have said most of this before! ...but a lot of you need to hear it again! When you truly understand what IBC is about, you stop listening to the noise. Let's get back to basics! Audio Production by Podsworth Media - https://podsworth.com

Most people associate family money with bad emotions and greed, yet family money can surely get you to the next level. Audio Production by Podsworth Media - https://podsworth.com

Why are some IBC-users successful while others say IBC didn't work for them? Why are some business owners successful while the same type of business can be failing miserably for others? Human error. Audio Production by Podsworth Media - https://podsworth.com

Are you so jealous that it is keeping you where you are? For many, the answer is yes. Look around at those who are jealous; they typically don't even ask questions about how things are done or how people advance in life. These are the, "must be nice," people. Do you want to be like that for the rest of your life? ...or do you want to learn, advance, and enjoy a higher level of success in life? Audio Production by Podsworth Media - https://podsworth.com

So many people are investing in short-term rentals (like AirBnB's), so why not have the experts on the show to find out more about how to do this? I love these ladies' podcast, Catch up with The KarWells, so I brought Emily and Sarah on to share some of their knowledge. Audio Production by Podsworth Media - https://podsworth.com

We talk about being the banker with Infinite Banking, but a lot of people do not understand what that means. There are three characters in play, and you want to be all three, not just the borrower. With that comes responsibility that will either make this work or kill it. You get to decide how good of a banker and bank owner you want to be. Audio Production by Podsworth Media - https://podsworth.com

Let's put this into perspective and look at what Nelson printed in the book. Many want to fast-forward, but Nelson said it'll take time. Audio Production by Podsworth Media - https://podsworth.com

As you are told to pay off debt, what is Dave Ramsey doing? He is building his empire, building his cash flow through business growth and rental properties. Don't just look at his debt program; look at what he and every other wealthy person does: they create cash flow! Audio Production by Podsworth Media - https://podsworth.com

There is so much debate about this, and so many people think what they are doing is wrong. Do what works for you... but here are my two cents on why I don't believe it's necessary and more of a personal issue than a money issue. Audio Production by Podsworth Media - https://podsworth.com

Are you guilty of making this massive mistake? Audio Production by Podsworth Media - https://podsworth.com

On this episode, I interviewed Rebecca Undem from Oakes, ND. We talk about how she is growing her small towns, helping others, her husband farming with her dad, and the challenges of it all. Rebecca is amazing, and you'll love this interview. Audio Production by Podsworth Media - https://podsworth.com

Many have asked, and this seems to stump people: When do I start my next IBC policy? You want to start when you have excess money or are not using the policy you already have. You should know your budget well enough to know where money is going. I have outlined a couple ways to figure this out. Audio Production by Podsworth Media - https://podsworth.com

Today I address common questions where people may get hung up about when to take a cash value loan vs. cash. Even possibly what to use that money for as well... so we will go over thinking about your pool of money, then how to ask those long term questions about what you may need liquid money for in the future. Audio Production by Podsworth Media - https://podsworth.com

Many folks make you believe IBC is risk free. In reality, it is risk-averse but not risk free. There are two factors that will cause IBC to fail: 1. insurance company failure, and 2. human nature. More details in the episode! Audio Production by Podsworth Media - https://podsworth.com

Many use these policies in their estate plans or as buy/sell or even key-man policies. The purpose of them is very misunderstood, and there are many better ways to do this without overpaying for life insurance. Audio Production by Podsworth Media - https://podsworth.com

You have flexibility, but it should only be used when you NEED to, not all the time. Paying premium makes you money. Audio Production by Podsworth Media - https://podsworth.com

Many people feel embarrassed when we meet that they have term life insurance. I do not hate term; it has it's use, just not for the long-term. Audio Production by Podsworth Media - https://podsworth.com

Here are some updates from the insurance company that I write with. Most likely very similar to any company, but good information for policy-holders to know. Audio Production by Podsworth Media - https://podsworth.com

3 things I do not buy into 100% are gold/silver, cryptocurrencies, and velocity banking. Are they useful? Perhaps... yet I don't understand a lot of the hype or why these are the end-all, be-all for some folks. Audio Production by Podsworth Media - https://podsworth.com

Keep in mind, if you are looking for advice from others, your approach will determine your success. Audio Production by Podsworth Media - https://podsworth.com

The naysayers will always say your new idea will be too hard, too much work, etc. However, your new response is, "pick your hard." You may be willing to put the hard work in because you have a passion for what you are doing. Their passion lies somewhere else. Audio Production by Podsworth Media - https://podsworth.com

Who is right in this fight? Who is the door mat, and how long do we sit around waiting? Audio Production by Podsworth Media - https://podsworth.com

Here are some things that will raise your credit score quickly with minor effort. Audio Production by Podsworth Media - https://podsworth.com

You don't get to count your debt as paid-off if you come into money. Be honest and keep paying yourself; those are the basics of the Infinite Banking Concept. Audio Production by Podsworth Media - https://podsworth.com

This is my appearance on the Infinite Wealth Podcast from a couple years ago. Thanks to Cameron and Matt for letting me re-broadcast this! Go check out their YouTube channel here: https://www.youtube.com/@InfiniteWealthConsultants Audio Production by Podsworth Media - https://podsworth.com