Without the Bank Podcast

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.

Interest rates on loans do not stop with the rate alone. What is your time worth, filling out paperwork, answering questions, and waiting to take an opportunity? This all matters. Infinite Banking is not really about rates but your time. Audio Production by Podsworth Media.

How can you grow your business with all the right people and have them as an asset and not a liability? Audio Production by Podsworth Media.

Is your retirement there for the purpose of taking care of you or for the purpose of taking care of the gov't? Nelson has some good points that need to be considered, and every year that goes by, his predictions become more clear and true. Audio Production by Podsworth Media

The biggest challenge for people when learning about IBC is how much to start with, where to find the money, access to money, and then how to use it. This is an important chapter review. Audio Production by Podsworth Media.

So many of my older clients don't understand the value of what they know. In this episode, I share how I go through meetings and share ideas of how you can turn that knowledge into money. Audio Production by Podsworth Media.

Your bank should not just consist of one policy; you should have many, and it will take you a lifetime to create that system. Audio Production by Podsworth Media.

Many blue-collar jobs have pensions and may be part of unions. Those pensions are proving to not hold up due to where the money is being invested. Watch your pension and pay attention to the performance so you know you'll have something to retire on. It's YOUR retirement, so make sure you are not banking on them to take care of you; do something yourself on the side so if they mismanage it, you have a back up plan. Audio Production by Podsworth Media.

When receiving death benefit or inheriting large sums of money, the last thing you should do is pay down debt, if not needed. Buying more death benefit and using that money through the policy will leave the kids with more and you with more flexibility, if needed. Audio Production by Podsworth Media.

What is happening right now with the market is the true indication of compound interest vs. uninterrupted compound interest. It also is proof that actual rates of return are better than an average. The noise is keeping you in this never ending cycle.. but instead, you can be the black sheep to get out of it. Audio Production by Podsworth Media.

A breakdown of what the difference is between whole life and universal type policies. Audio Production by Podsworth Media.

Where to get the money to start and how to think correctly about using this tool rather than another one for purchases. Audio Production by Podsworth Media.

John Maxwell had a great podcast episode on players vs. pretenders, and I just wanted to share that with you. If you have employees or even family members that all work together, then you are going to want to listen in to see who will be there for the long haul. Audio Production by Podsworth Media.

Ken is a demographer who has some great insight on what is happening in the world and what we should be prepared for. Listen in to see where you can find opportunity. Audio Production by Podsworth Media.

So many people want to compare IBC to an investment, but they are not the same. Yet when they do compare them, they say they are not the same. Right; they are NOT an investment. Audio Production by Podsworth Media.

This may be long, but it is so worth every minute! Ty shares with us about his business, investments, how he's using his IBC policy, and how he has remained positive through struggles and the loss of loved ones in his life. He is an amazing young man! Tune in and be inspired! Audio Production by Podsworth Media.

Not all insurance companies or agents are created equal. Know and understand what it is you are buying and wanting to do with your IBC policy. In this chapter of Becoming Your Own Banker, Nelson lays out things you need to look for. Audio Production by Podsworth Media.

It seems like so many are missing the point of what IBC is and the fact that money is liquid to be used. Stop focusing on illustration numbers and start thinking about how you can use that money to create unseen growth. Audio Production by Podsworth Media.

Many do not want to pay premium or want to pay the smallest amount they can. That is broken thinking; premium is the solution, not the problem. The problem is what we are doing now. We must create our bank, and to do so, we must pay premium. Audio Production by Podsworth Media.

There may be a trick to getting your match and getting the money out without penalty. Also, if you are 30 years old and being told you can save your way into retirement, that is a lie. Because of inflation, you'll need close to $10 million to live like you are today on $100K per year. Numbers don't lie, listen in. Audio Production by Podsworth Media.

We have had a lot of questions lately on who owns the policy and controls and pays premium. This can be confusing, so I break it down as best I can. Audio Production by Podsworth Media.

Let's talk about what so many couples avoid talking about to their detriment: MONEY. Couples need to communicate effectively about money, yet most don't know how to or avoid it like the plague. Let's get on the right track starting today. Audio Production by Podsworth Media.

So many people talk to me about what to do for cash flow. Here is what I am looking at and listening to regarding this issue. Audio Production by Podsworth Media.

Many want to create college funds in kids' policies. In this episode, we talk about what that looks like, how life insurance is now or later, creating wealth for them, and more. Audio Production by Podsworth Media.

So many people think IBC is about rates of return when it's really about a thought process and human nature. In this episode, I talk about why it's so important to stay educated on the concept and keep learning, not just buy a policy and let it go. If you do that, you forget why you even bought it to begin with. Audio Production by Podsworth Media.

Doing a 15-year mortgage to save money on interest could be hurting your actual income and cash flow for retirement. Don't get caught up in the rates when you are ignoring cash flow. The only way to create cash flow is to have liquidity of money. It's a great formula that so many are missing out on. Audio Production by Podsworth Media.

Separating money into different accounts is not necessary if you are an honest banker and pay yourself back. In fact, it could be keeping you from creating cash flow. Listen in as I share some examples of why there is only one pool to take money from. Audio Production by Podsworth Media.

Having financial strain is hard on many levels, but avoiding that issue is not going to solve that problem. Here I have come up with my own term, Financial PTSD, and I talk about why it's so important to know your numbers. Audio Production by Podsworth Media.

In this episode, we talk about those people who think they know everything yet really know nothing because they are too lazy to learn. Is it ignorance, or an illusion of knowledge? Audio Production by Podsworth Media.

Those with the gold make the rules. Where is your gold, and why are we living in a state where no one has the gold? It's not about redistributing wealth; it's about how we treat our money. Listen in. Audio Production by Podsworth Media.

If you are running a business, do you know your numbers? This is a live or die scenario for your business, and I beat this horse pretty hard in this episode. Tune in and buckle up. Audio Production by Podsworth Media.

In this episode, we hit two more chapters of Becoming Your Own Banker and talk about Parkinson's Law: expenses rise to meet income, and a luxury once enjoyed becomes a necessity. Also, we visit about where the money sits and who is wanting to steal it. Audio Production by Podsworth Media.

So many new business owners question what they should be doing to grow their business with marketing. In this episode, I interview my marketing guys and ask them the hard questions you all ask me. If you want to grow you, must brand yourself and market and do it correctly. Audio Production by Podsworth Media.

Some of the worst advice we ever get is to avoid taxes. In this episode, I run through some numbers of why it truly does not make sense to buy things to avoid taxes; we just transfer money to the bank instead of keeping it, or we give up liquid cash. Audio Production by Podsworth Media.

In this episode, you'll find out why you should have a policy on a business partner or key employee. This is a very important topic that often gets missed in the business entity setup. Audio Production by Podsworth Media.

Jim does not farm but works in the farming industry. Good stuff to learn here about business and how this can apply to your business, what it's like to work with me, and why you can start even after you're 60 years old. Audio Production by Podsworth Media.

Another BYOB book study breaking down the importance of being an honest banker, paying interest, and using the correct policy with the correct people. Audio Production by Podsworth Media.