Without the Bank Podcast

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.

We often wonder why we are so frustrated with what we are doing or who we are working with. This is a GREAT answer to how to find out where people will excel and how we can understand them. Audio Production by Podsworth Media.

Is early withdrawal a good idea, or should you just hang in there waiting for your return? Why a 10% penalty on your money? So many points of concern to be addressed here. Audio Production by Podsworth Media.

There is so much social media noise around the Infinite Banking Concept that it's hard to know the truth from the lies. Here are some pointers many folks don't think about. Audio Production by Podsworth Media.

If you are using the bank, you are part of the problem. The Infinite Banking Concept has nothing to do with rates of return or banks. Listen in! Audio Production by Podsworth Media.

So many people ask me, "How can I use IBC in my life, and what all can I use it for?" This episode will go over some examples for everyone! Audio Production by Podsworth Media.

So many business owners meet with me and think IBC is just something they can use on the personal level, when in fact, it's for the business as well. Keep in mind, Nelson always said, it's one pool of money. Audio Production by Podsworth Media.

What is the real cost of going to college? ...and if you pay cash for your kids tuition, what is that costing you in retirement? Audio Production by Podsworth Media.

In this episode, we discuss why buying life insurance on grandkids is important to the cycle of family wealth but not as easy as one may think. Audio Production by Podsworth Media.

You can't say it doesn't work when you have the wrong agent helping you or no agent helping you. Do your due diligence and understand what is happening. Audio Production by Podsworth Media.

When you start a business, you need to know your options to mitigate taxes and liability. I'll make it simple for ya!

As we create generational wealth, we forget that we still have the cash value to use and money sitting in the bank, should we pass. This is powerful when we talk about creating wealth. Audio Production by Podsworth Media.

If you are anxious about money and looking at your bank account, you too may have Financial PTSD. Audio Production by Podsworth Media.

IBC is not about rates of return; it's about liquidity of money and being the owner of the bank. Let's discuss why so many people can't stop comparing it to an investment. Audio Production by Podsworth Media.

If we are going to save family farms, we must plan correctly, and doing that with a trust will avoid any extra costs and allow you to make sure it stays in the right hands. Heidi Olson is a succession planner and trust officer who shares with us some good starting information on what needs to be done.