Without the Bank Podcast

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

Today's topics: How to get money in for a faster start, when to start new policies, how much death benefit do I need, and don't feel guilty using cash. Audio Production by Podsworth Media - https://podsworth.com

Bankers are normally nice, but when they aren't, they can harm you more than help you. Today's RANT is about how they can actually harm ya! Audio Production by Podsworth Media - https://podsworth.com

Don't let people kill your dreams, and by gosh, don't be scared to share them with me! Audio Production by Podsworth Media - https://podsworth.com

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The big IBC debate around IUL vs. whole life has come to a head with the document I received last week. It is full of lies and was given to clients. Chris is a leading expert in IUL and why those policies are not good, so I had him on as a guest to speak about the IUL debate. Audio Production by Podsworth Media - https://podsworth.com

We hear a lot about the MEC when we talk about Infinite Banking, but rarely do we hear the ins and outs of it. Here are the ins and outs, why it matters, when it happens, and how to avoid or work around it. Audio Production by Podsworth Media - https://podsworth.com

Nelson Nash talks about windfalls within the world of Infinite Banking, but loans should not be taken with a windfall in mind to repay, unless it's a unique circumstance. Audio Production by Podsworth Media - https://podsworth.com

There are normally three types of people that take the step to meet with me, but they get there differently and over a different period of time. Who are you? Audio Production by Podsworth Media - https://podsworth.com

In this episode, you will see evidence and real policies demonstrating why universal, variable universal, and indexed universal life policies are not a good options for the long term. IBC uses whole life and only whole life for a reason. Audio Production by Podsworth Media - https://podsworth.com

What is the NNI Council, and why is it a good thing? Also, let's tell the full truth on leasing vehicles to your company and putting that back into your IBC policy. Audio Production by Podsworth Media - https://podsworth.com

You can think about something all day, but that makes nothing happen. If you want to be successful, take action, and get started, regardless of if it's Infinite Banking or business. Audio Production by Podsworth Media - https://podsworth.com

This is a hot topic right now with multiple banks failing and lots of digital currency talk. It's about more than just these two factors; it's mostly about how companies manage a product and how agents sell it. Audio Production by Podsworth Media - https://podsworth.com

This is a great episode going over what you should know and expect when starting a business, how the business structure can help with taxes, and what you need to know to be the most financially sound. Audio Production by Podsworth Media - https://podsworth.com

Many waited as the last 10 years were great, and now they wish they had started building their bank in the past. It is never too late; we just have to think differently. Audio Production by Podsworth Media - https://podsworth.com

With the recent bank failures in the headlines, this is a good time to talk about fractional reserve banking and why we do IBC. Audio Production by Podsworth Media - https://podsworth.com

Getting back to the basics of WHY Nelson created IBC and what we have done to forget that. Audio Production by Podsworth Media - https://podsworth.com

It's not easy sharing something new, but here are some tips for ya. I sure hope they help. Audio Production by Podsworth Media - https://podsworth.com

Let's break down some myths that I have been hearing about lately. Audio Production by Podsworth Media - https://podsworth.com

Here is how the policy loan rate changes are determined and, by contract, when they can change. Also a little bit on how loan rate interest is figured and applied. Audio Production by Podsworth Media - https://podsworth.com

Rarely, if ever, do we get to hear from someone internal to a life insurance company. Clay shares some great insights on why a company may not like a 10/90 policy and how that can affect the company. He also talks about Universal Life policies and how they are different from whole life. Audio Production by Podsworth Media - https://podsworth.com

If you are blue collar or in the trades, do you know your value? So many do not, and I am here to tell you, you have value, and you need to start recognizing that. Audio Production by Podsworth Media - https://podsworth.com

Many people think they are too old to start Infinite Banking, which is not true. Also, that ties into when we should be buying a policy on mom or dad, or if we have business partners, when we should be buying key-man or buy-sell policies. Audio Production by Podsworth Media - https://podsworth.com

It was super fun talking to one of the IBC Practitioners I look up to, James Neathery. He knew Nelson very closely, so I wanted to visit with him about Nelson and then get into why we are so passionate about IBC. Audio Production by Podsworth Media - https://podsworth.com

What does 1035 mean and how does it work? Also, I include my suggestions for why you should NOT 1035 a policy and why you SHOULD question your agent if they suggest it. Audio Production by Podsworth Media - https://podsworth.com

Collateral assignments on whole life policies are not a great option if you want to maintain control. Also, the strategy of using a CD as collateral has become a talking point in the last couple weeks, and we need to understand why that is not always good either. Audio Production by Podsworth Media - https://podsworth.com

Inflation truly is the silent thief, and people don't understand how it affects how much money we need saved, what rates of return we need to earn to get there, what percent of income we need to save, and why cash flow is so important. This is the real reason IBC fits into everything you will need for the future. It will also show you why liquidity of money is the top priority as you are young. Audio Production by Podsworth Media.

Since we talk about death a lot on this podcast, let's address why you should be funeral planning for locked-in costs and peace of mind for your loved ones. Audio Production by Podsworth Media.

Everyone is getting hit by inflation, but this is why it's worse for employees. Audio Production by Podsworth Media.

Today I answer 3 common questions: Will death benefit be paid right away if something happens? Is cash value and death benefit paid upon death? ...and are premiums flexible? Audio Production by Podsworth Media.

If you are a small business owner stuck and needing help, tune in! I have added my two cents and experience to the equation. Audio Production by Podsworth Media.

If you are an honest banker and pay back your loans with extra interest, that may not fit in the policy as premium. Audio Production by Podsworth Media.

Here are some of the most frequently asked questions and concerns that I have received or come across recently. Audio Production by Podsworth Media.

Let's clear up more confusion around IBC and what it really is and what it is not. Audio Production by Podsworth Media.

Understanding cash value and using correct terminology is super important to the long term growth of your policy. You never want to take money out when you intend to borrow. Audio Production by Podsworth Media.

In this episode, I talk about whether or not an IBC life insurance policy is a hedge against inflation and whether or not life insurance companies are secure during this time, due to pure craziness. I also, at the end, tell you what can stop inflation. (It's really quite simple.) Audio Production by Podsworth Media.

Why small businesses should make money and not feel bad about it! Audio Production by Podsworth Media.