Some people have owned whole life insurance for several years and they want to get more involved with infinite banking. They want to make sure that they are using the infinite banking concept and their policy to their best advantage. That’s good. Today we are going to talk about how to do that.

Some things we will talk about in this episode will be:

Should you borrow from your cash value for everything?
When should you take a policy loan?
Do you have to pay back a policy loan?
Should you pay back a policy loan fast?
Can someone own multiple policies?

ENJOY!

There are lots of different types of life insurance policies out there. Some are good, some are bad. Life insurance is sold by honest and dishonest people. If you want a policy that helps you keep more of the money you make, grow your wealth and give you financial peace of mind, make sure you get a good policy and buy it from someone who has good character.

Being in the financial space like we are, we get asked about what will happen if the dollar collapses, we get asked what we think about cryptocurrency. Do we think the dollar is doomed? Do we think Crypto is a good investment? Do we think Crypto will replace the dollar? We’re going to talk about all of this right here right now, buckle up. 

One of the most well known cryptocurrencies is Bitcoin. I don’t own Bitcoin, but we have clients who do, some of them did very well when bitcoin went up so significantly in 2020. 

That’s one side of the coin, the other side of the coin is that we have clients who believed so strongly in the future of Bitcoin that they mortgaged their home to buy it and ended up losing their house.

A lot of people have Trust issues... we're not talking about psychological trust issues, we're talking about issues they have with a legal Trust.

One of the Trust issues people have is simply not having any Trust at all. That’s an issue because Trusts keep estates out of probate!

There are many legal tools available that can provide specific benefits in specific situations. Many of the legal tools that are used by the wealthiest people have been established to grant the wealthiest people exceptions to rules. You don’t have to be extremely rich to use and benefit from the same legal tools, but on the other hand, just because they are available doesn’t mean you should or have to use them.

The more you know about the legal tools available, how they work, the benefits they can provide, and the problems they can create the better decisions you can make to grow and protect your wealth.

Are you bored with your budget?  Are you tired of feeling frustrated and limited?

Budgeting doesn’t have to be boring. If you structure your budget the right way, you can feel free and creative instead of trapped.

To be effective, a budget has to be practical and also flexible.

Listen to this episode and discover some new creative ways to work your budget. Budgeting can be fun and extremely rewarding, if you do it the right way.

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Many people think slavery in America was a thing of the past, we fought a civil war to end it and we’re glad it’s gone, but there are many people today who are enslaved.

We are talking about financial slavery and how to escape the bonds of financial slavery today right now on Wealth Talks.

Someone asked us to respond to the opening and closing ceremony at the 2024 Olympics, Brett asked us to talk about what someone should do with the money if they win the lottery, and Carlo asks if we had the choice between taking retirement benefits at $7800/mo. with lifetime free medical vs a lump sum of $1.5million dollars which one we would choose.

3 completely different questions, but all interesting in their own way. We are going to talk about all three of these things today right here on Wealth Talks.

If you you have a question, or would like us to comment on a topic, feel free to reach out in the comments below.

Not long ago in podcast 469 we Rebutted a Dave Ramsey video that a podcast listener sent us. That podcast episode has been watched by hundreds of people and the feedback has been really something. A lot of people loved it and some people didn’t, you can see their feedback in the comments on episode 469. But through it all, another listener sent us another Dave Ramsey video and we are going to respond to that video today.

If you haven't seen this particular video you can watch it here:

The Dave Ramsey video Jonathan sent us:

 https://www.facebook.com/story.php?story_fbid=985650382924576&id=100044388700838&mibextid=WC7FNe&rdid=I82xtNhc7kJWBVgW

1:38 Is life insurance an asset? 
2:28 Dave Ramsey's life insurance example
10:00 Do you need life insurance after age 50
12:46 When Buy Term and Invest the Difference doesn't work out 14:33 Should you invest or buy life insurance
16:39 Fisher Price donut ring demonstration
21:12 Is Dave Ramsey a life insurance agent?

If you have a question or content you would like us to comment on in the podcast, reach out to us in the comments. We look forward to hearing from you soon.

Credit unions will mail out life insurance offers sometimes. Are they a good deal? Should you buy life insurance through a credit union offer?

That’s what we are talking about today.

Credit union life insurance is better than nothing, but there are better deals.

Listen and learn about the different types of life insurance available for you today.

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If you own a business you can absolutely use the infinite banking concept to fund business expenses and that’s what we are going to talk about right now in this episode of the Wealth Talks podcast.

A lot of business owners want to use infinite banking to finance business expenses because of the intrinsic benefits. We’re going to talk about the benefits and also the process of using the infinite banking concept for business.There are a few things you want to get right to get all of the benefits and have no problems.

The benefits include tax benefits, time savings, increased profits, more productivity, cost savings, flexibility for loan repayments, better cash flow and peace of mind.

In this episode we talk about:
• Real concrete examples of a business loan and the results
• How to use the infinite banking concept to help with taxes
• How you can keep the interest personally that your business pays on the loan
• How you can finance equipment that will increase productivity
• How to get a discount on subscriptions and commercial insurances by paying in advance
• How to defer loan repayments to a more lucrative season if necessary to improve cash flow

In this podcast we are talking about the problems with the infinite banking concept.  

The infinite banking concept is an idea not a product. The infinite banking concept is a way of thinking about money and finance in a way that allows you to keep more of the money you make, grow your wealth and have financial peace of mind. 

Some people think the infinite banking concept is a life insurance policy. Or that a life insurance policy is an infinite bank. It is not. The only reason life insurance is associated with Infinite Banking at all, is because life insurance has tax preferred treatment, gives the owner reasonable growth on their money, provides protection and lets the owner leverage their money without giving up policy growth or guarantees. 

Some big problems we see when people try and get set up with the Infinite Banking Concept are:

• Too big of premiums

• Borrowing to pay premiums

• Borrowing and repaying loans just because

 You can avoid these problems and be successful with the infinite banking concept by learning how it works and implementing it correctly. We will cover that in this podcast too. 

If you have a question about the Infinite Banking Concept, ask your question in the comments, or send an email to producer@wealthtalks.com so we can answer your questions right here in the studio.

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If you wonder how much life insurance you need? Or how much life insurance you need for infinite banking? This is your podcast.

The most honest answer to the question of, “How much life insurance do I need?” is, “Nobody knows”. And the shortest answer to the question of “how much life insurance should I have” is probably, "MORE!" ... let us explain

A lot of people settle for the life insurance they’re offered through work or from a friend, some people don’t have any life insurance at all, but people who understand how life insurance works want it and they want specific policies and certain amounts.

We are going to talk about how to get the life insurance you want, how to use the cash value while you’re alive and how to provide financial peace of mind for your family when you die.

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This podcast will be helpful to those who want to keep more of the money they make, grow their wealth and have financial peace of mind.

On a side note... We have Jasper here in the studio with us this morning. He’s 9 weeks old German Shepherd Puppy. Jasper is our up and coming guard dog. We have a guard dog up at our house already, her name is Lulu, she’s a german shepherd also and does a great job, She patrols around our house, but Jasper’s duties will be to guard the barn area.

German Shepherds and Life Insurance go hand in hand in our family. Listen to hear the story on todays episode of Wealth Talks Podcast.

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As we teach people about whole life insurance, how to manage money and the infinite banking concept, time and time again people tell us  “I wish I would have known about this sooner”, or, “they should teach this in high school”.

When you find something that works so well, it’s hard not to look back and wish you had that knowledge or that product earlier in life. 

In this episode, Episode 477 of the Wealth Talks Podcast we are going to talk about the things we wish we knew about finances before age 18. That covers high school also, yes, some of these things we talk about today, should be taught in high school.

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Today we answer 9 questions we received about life insurance, cash value, money, interest rates, and dividends.
These questions and their answers will be helpful to anyone who uses, or plans to use life insurance cash values and the Infinite Banking concept.

The questions are:

1. Do I get to choose the interest rate I pay on a policy loan?

2. If the dividend rate is 5% and my policy loan interest rate is 4% am I making 1% on the difference?

3. When I pay back my policy loan with interest am I paying myself back principle and interest?

4. Does the interest I owe on a policy loan change every month if I am making principle and interest payments monthly back to the policy?

5. What is the interest rate that the guaranteed cash values compound at?

6. How is the dividend rate determined?

7. Is the dividend rate the same as the compounding growth rate of the policy cash values?

8. Can the insurance company alter my life insurance contract if I start flight lessons?

9. When I borrow money from my policy how does it affect the guaranteed growth of my policy? How does it affect the dividends? How does it affect the face value?

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In this podcast you will get specific numbers, and details from two different Whole Life Insurance policies, what the premiums are, how long they can be funded and how much money the owner can borrow.

This is a glimpse into infinite banking policy design that many people will never get.

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The way you think is the lens through which you observe every situation in life. The way you observe influences how you respond and how you respond makes an enormous impact in your life for better or for worse.

Respond… and that’s such an important word, because many people go through life reacting to what life presents to them and that’s not an ideal situation to be in.

The difference between responding and reacting can be as significant as life and death, If you touch a hot stove, your reaction can save you from severe burns, in the same way a response instead of reaction can neutralize a bad situation, and lead you to successful communication.

If you have a bad mindset, how do you fix your mindset?

If you habitually react, how do you start responding instead?

If you don’t like the results you are getting, how do you get different results? 

 All this and more on this episode of The Wealth Talks Podcast

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Have you ever wondered what the world will look like when today’s young adults become the middle-aged people of the future?

The future is full of possibilities for everyone. There will be people who seize the opportunity to make a possibility a reality and there will be people who let the possibilities remain possibilities because they don’t want to make a commitment or put in the work.

If anyone, young or old, rich or poor, man or woman, chooses to do what it takes, success can still be theirs.

If you have young children make sure to involve them in what you are doing so they don’t have to figure everything out from scratch when they are the next group of “young adults”.

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If the money you save isn’t earning anything, it is losing value. That’s horrible news, but it’s the truth. 

We were on a business call with Alex just the other day and he asked, what is happening to the middle class? 

Middle class is defined largely by household income adjusted for household members. Anything from about 50k/150k of income per person is considered middle class right now.

The most obvious thing that hurts the middle class is Inflation.

Inflation is stealing the value from your money every day and if your savings can’t outpace inflation, or at least keep up with it, you are falling behind.

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Today we have Anna, in the studio with us, to discuss how she has built her baking business from scratch, no pun intended, and to discuss some of the challenges and problems she has faced along the way. We also are of course going to sample one of her famous treats.

Anna's business, Bread and Butter baking, makes sourdough bread, cookies, cakes, pies and cinnamon rolls.

You can also watch the video of this episode on Youtube: https://youtu.be/Yx7DqS6WZHg

Cash Value Life Insurance is one of the lesser understood financial assets that you can own, but it is also one of the most powerful.

In today’s episode of The Wealth Talks Podcast we talk about the cash value of life insurance policies, what it is, where it comes from and how it can be used. This episode is all things cash value.

After this episode you will understand life insurance cash value better than you ever have before.

Paying Property Taxes using the infinite banking concept: https://www.youtube.com/watch?v=dBG9Gk8lGTw

Review WealthTalks on Apple Podcast here: https://podcasts.apple.com/us/podcast/wealth-talks/id978187163

As a listener of the Wealth Talks Podcast you can request episodes that answer your questions or talk about something you want to know more about, just send an email to producer@wealthtalks.com

Josh listens to Wealth Talks on his way to work and he asked us to do a rebuttal to an episode of Dave Ramsey’s show where he is talking about the infinite banking concept. We happen to know a lot about the infinite banking concept, so if anyone can add perspective to Dave Ramsey’s video about the Infinite Banking Concept it would be us.

The video Josh sent to us is called Heated Debate Between Infinite Banker and Dave Ramsey if you need more context to anything we talk about in this podcast the link to that video is here: https://www.youtube.com/watch?v=A-NKv_wp8DM 

If anyone knows Jim from Nashville who was on this episode of the Dave Ramsey show, please email producer@wealthtalks.com and let us know. It sounds like Jim has put a lot of thought into what he is doing for his son and we would like to hear more about it.

Review WealthTalks on Apple Podcast here: https://podcasts.apple.com/us/podcast/wealth-talks/id978187163

As a listener of the Wealth Talks Podcast you too can request episodes that answer your questions or talk about something you want to know more about, just send an email to producer@wealthtalks.com

There has been a lot of money transferred from the accounts of working Americans into the coffers of the U.S. Government from the income tax alone. But worse than that it has created division among Americans and that is the worst repercussion of the 16th amendment.

In this episode we talk about:

• Tax avoidance vs. tax evasion
• Tax avoidance procedures
• Tax planning measures
• Tax fighting duties

 Listen as we will talk about ways to avoid income taxes, pay income taxes and fight back against the progression of the income tax. 

What do you think of the 16th amendment?

The Richest Man in Babylon book has the reputation of being responsible for creating more millionaires than any other book in print. If that is the case, the advice in this book may be the best financial advice in the world.

The financial advice given in this book has many aspects. One of the most fundamental of these is the 10-20-70 Rule.

The powerful thing about the 10-20-70 rule is that no matter how much or how little money you make there is always 10%... 20%... and 70%. And it works on any scale.

Listen and discover how to apply this fundamental financial principal to your finances, and then watch how it transforms your life. 

Resources:
How to get a Whole Life Insurance Policy: Contact McFie Insurance 702-660-7000 | team@mcfieinsurance.com | https://mcfieinsurance.com/

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In days gone by many private companies could offer pensions that would actually support someone financially in retirement, but those days are gone and so are the pensions.

The financial side of retirement is extremely uncertain, many mainstream retirement plans are mediocre at best and while the desire to retire persists among people, the financial challenges of retirement have increased. 

The Financial Side of retirement can be better than the forecast looks, if you do something different than what most Americans are doing. 

 Watch this episode and start planning for a better retirement now.

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