As a CPA for 20 years, I was skeptical of the Infinite Banking Concept, so I decided to do my own research. Here's my take on IBC and whether it's the right financial strategy for you
As an accountant, I’m happy to hear this from a CPA! So hard to understand from some of these life insurance agents. My current whole life policy won’t have a cash value until 5 or 7 years. Time to read and research.
Glad you found it helpful. More to come. Sounds like you have a typical whole life policy. Do your research. We do have a course that explains the basics of IBC and advanced ways to use your policy. You can check it out at www. InfiniteWealthCourse.com Access is $500 however if you email me at info@infinitewealthcourse.com, I tell you how to get free access. FYI. You may be able to transfer yourpolicy to an IBC policy aka cash value from day one. We can show you how.
@@gregwestgarde3247 IBC is a concept. The policy is only the product that is used. If you focus only on the product you are missing the point. IBC is not an either or (put your money in life insurance OR real estate OR your business OR the market) IBC is an AND (put your money in life insurance AND real estate AND your busines AND the market) If want to see a spreadsheet, you need to see our video on “Why You Should NOT Buy Term and Invest the Difference.” We walk through how and why running investments through a policy will provide you a higher net worth and more importantly higher cash flow in retirement. Here is a link to part one of the video czcams.com/video/lDn4SGhopLI/video.html. Part two should post next week.
@@AnthonyJFasoCPA And asset is a good one. This is another one of IBC’s many popular phases that is ridiculous. Any asset is either worth having or not worth having on their own merit. Finance does have nuances but this does not qualify. If A asset is better than B asset, B is not an “and” asset, it’s an asset that should be sold to buy A asset or never have purchased in the first place.
@@AnthonyJFasoCPA -- some just aren't going to get it. They are not evaluating policies as a 1. Tax free savings with uninterrupted compound interest of 3-6% with an IRR of 4%+. 2. They don't understand the liquidity. 3. That once it's funded they effectively can have $$$ working in two places.
Mr. Nash started the juices flowing. Once flowing, a deeper look into cash value permanent life insurance, namely a dividend-paying whole life policy issued by a mutually structured carrier, caused a radical mental shift resulting in me protecting and multiplying more cash (well over 6 figures over 3 different policies) than I had ever amassed in my then 54 year-old life and starting me on a journey to discovering the power of uninterrupted growth.
Bobby, thank you for your kinds words. Glad I was able to help. I would recommend you check out my on the Top 5 Questions to ask an IBC Agent czcams.com/video/THEU2ASkDDc/video.html and Should you Get a 15 or 30yr mortgage czcams.com/video/i_VNUellMlc/video.html and the Infinite Wealth Podcast. Wish you well with your pursuit on learning the Infinite Banking Concept.
Love this content. Thank you for explaining this. I have had my whole life policy for a year now utilizing it as a bank, just like you explained. Also, I had over 85% cash value available immediately that I used to pay off some loans and credit cards. I love the fact that you get to keep your money and still pay off bills with OPM.
I am starting my IBC account soon and already know what i am going to do with my first policy loan. I also will be paying back myself large amounts of interest to help build my policy even larger.
Anthony J. Faso CPA... I have some updating to do on my house first. After i pay myself back, i will be buying my first new car. I look forward to charging myself interest on these policy loans. I wish i had known about this years ago!
I don’t get it, how are you paying yourself interest. Doesn’t the interest go to the insurance company? If you just spent the cash vs going into the policy there would be no interest. How is paying interest a good thing?
Bryan, great question! There is a BIG difference between paying cash vs using IBC. When you pay cash how much is your money earning in interest? Zero, you have drained your account. With IBC your money continues to compound. I expect that you are looking for a more detailed example however the comment section of CZcams is not sufficient. Fortunately, I have had a webinar on IBC on Oct 17th. I will show you the math behind paying cash vs IBC. If you want to learn more, you can sign up at zoom.us/webinar/register/WN_el2aHNpWSIeN1do-3wOn5g . If you cannot make it, sign up and I will send you a recording. Hope that was helpful.
I have my policy. Boy do I wish that I have done this sooner. My wife and I have only had this ploicy for 5 years and have access to over $120,000 in cash value. Borrowed $16,000 two years ago to purchase a car. Not sure how early I could have borrowed but I did it as early as year 3.
That's awesome. Thanks for sharing. With an Infinite Banking policy, you can take your first loan in 30 days. PS. My new videos will be posted on my new channel, Infinite Wealth Consultants. Check it out at czcams.com/channels/btEcy_8F_ad7LPSXXAuBEw.html
Thank you so much for sharing your information, both in the video and thoughtfully replying to comments. I'm in the 'due diligence' learning curve of this process, preparing to purchase a policy. I have a question I haven't seen addressed anywhere yet. If I'm making premium payments; say $400. a month, and I take a loan on my policy, which I need to repay; say $200. a month. Am I correct in thinking I now need to have $600. a month to pay? Did I miss anything? So, if I have the money to buy a car, but instead buy a policy (with overfunded monthly payments) and borrow from myself to buy a car, now I need money for both policy payments And car payments. Is that right? Thank you again.
Sherry, Great question! And you answered it correctly. It’s kind of like if you bought a car would you stop saving for retirement? Thus, in your example, you should make your premium payments and your car payment. It sounds like you have read Nelson’s book, Becoming Your Own Banker. We created a video walking you through the section of the book about buying a car. It is not public on our channel, its only available through this link czcams.com/video/PvQm1d5X2TI/video.html. I also created a video of 5 things you should as an IBC agent czcams.com/video/nzlJuSscag8/video.html Glad you are doing your research. I wish you well.
It truly depends on how your policy was designed. It’s important to consider the clients desires from day one. I personally made sure i started my policy with a certain amount that i could immediately have access to 20k to our bills. You technically don’t have to pay the policy loan back because it doesn’t really help building your cash value faster. Just continue to dump money into your cash value and the interest will eventually replace it. My sister (also a CPA/realtor) and I have a financial strategy company with the focus to help with wealth building. We also have a debt elimination software that calculates all your bills/debt for payment in 12-15 years and less for many based on a comfortable monthly premium amount. We would love to help you! Text: 410.988.4614 and we will set up a call to have a plan that works best for you
I’ve just started looking into IBC. I’m pretty novice, so I’m curious, you talked about buying up real estate, can you use the IBC in place of a traditional mortgage company for personal home ownership as well? What are your thoughts?
Great question Dillon, why would you not be able to? As Nelson Nash says you finance everything you buy. You either pay credit and pay interest or you pay in cash and loose interest. With IBC you get the best of both. As you are doing your research on IBC you should also do research on what agent you should use. I did make a video of the Top 5 Questions to ask an IBC Agent czcams.com/video/nzlJuSscag8/video.html. I wish you well!
It truly depends on how your policy was designed. It’s important to consider the clients desires from day one. My sister (also a CPA/realtor) and I have a financial strategy company with the focus to help with wealth building. We would love to help you! Text: 410.988.4614 and we will set up a call to have a plan that works best for you
I believe there are only 2 or 3 companies in CA that are good for IBC. Your results from IBC are about 20% from the insurance company and 80% how you use it. The company is important but what is more important is to work with a Certified IBC Practitioner. You can find one here infinitebanking.org/finder/ We work with a couple IBC guys in CA. If you email me at info@infinitewealthcourse.com I will put you in touch with one of them. Wish you well!
Would it make sense to take a loan on investment property to fund a policy. I would then use that money from the established policy to invest in passive generating assets. I can take out $300,00 in equity costing me around $!400 per month. (3.5% interest) Of course any investment would have to make at least 3.5% plus the cost to pay interest of 4-5% from the policy cost. Would this make financial sense ? Thanks for great video.
Why cost yourself more money if you can tap into $300k worth of equity? You would have the money to invest right away. Don't spend money on unnecessary complexity.
Which permanent insurance is better and why? Whole life or iul? Both rep that I've spoken to says the same thing. I've never been more confused about anything.
Great question. Sorry that you are confused. I will be posting a video soon on why I have NEVER recommended an IUL. Until then I will share this: Whole life is boring and IUL are "sexy". By sexy I mean it sounds good, "no downside" . Once you look under the covers, it MAY not be so rosy. There is a cap on the growth. When you combine the cap on losses and gains, it will perform similarly to whole life. Also, IUL's can go bankrupt! ie. if the gains are not as high as planned and if expenses are higher then planned, you can lose your policy. Thus every dollar you put in is gone! If you don't believe me, look at the back of the illustration and you will find 2-3 scenerios where the policy. You don't have to take on that risk with Whole LIfe. Plus with Whole Life you can "use " the cash value to invest. For example I have clients using their whole life polices to great passive income. In fact, by running your money "through" a policy you can improve your results. Check out my videos where I do the math czcams.com/video/OIYUIEM1nwM/video.html. Wish you well. If you still have questions, let me know and I will send you a link to scheudule a 15 min call.
You said it too. It's an "and". How exactly is it an "and" asset. I understand I buy whole life w/cash benefit. I get paid dividends on it. Now I borrow money based on my cash value. Now my basic understanding of accounting is 10k in whole life cash - 10k in whole life loan, plus asset I buy with loan I borrow is still just 10k as an asset. I am just juggling the asset from one hand to another. For that privilege I pay the interest. It's not an "and" asset. Now I also understand that my net interest rate on the loan in the end is the spread between the loan rate and the dividend rate. How is this so much better? If I have 10k in the bank, I can go get it. If I have 10k in the whole life policy...I can go get it. Why is this so much better?
@@michaeltharp2535 - why would I just leave 10k around earning 1%. If I am able to send it to an Infinite Banking insurance product, then I am certainly able to afford investing it somewhere else other than 1% at a bank. Still does not make sense.
And if you weren't smart enough to make more than 1% on it before I put it in Infinite Banking, how is the person any smarter to make more than the interest payments that I have to pay my Infinite Bank? Does not make sense
My understanding is when you borrow against the cash value of a whole life policy you are not actually taking money out. You are creating a new loan. So your cash value stays there earning interest and is the collateral of the new loan. It works as far as it goes but you can also do this with other assets. Margin accounts on stock. Securing a loan against your portfolio.
You are NOT borrowing or withdrawing the $10k from your policy, so it continues to earn 3-6% interest/dividends. Your death benefit acts as collateral for a loan from either a bank (which you lose control of how you want to pay it back and is reported to credit agencies for debt to income ratios) or from the Insurance Company (which is not reported to any credit agencies and doesn't affect your credit and you DECIDE how you want to pay it back). That $10k loan than can be used to purchase assets > than the interest of the loan you're paying on. So if you were to buy dividend stocks with a proven track record of 10% year after year and the loan was for 5%, then your money is earning 3-6% Cash Value on $10k and earning 5% (10% - 5%) on the stock dividends. The policy of course has NO taxation on it.
Hi I just watched your video on IBC I hope it's the same company IBC EXCHANGE London if so I ask you how did you go withdrawing funds did they ask you to pay tax before they would release the funds because its a u.k company and I'm in Australia or am I being scammed, I'm not a rich person and if I barrette money for the tax and I don't see the profits I am stuffed and most likely loose my house please if you cam help me thatt would be great Thank you once again
Exchange IBC is a broker for trading assets. We are referring to IBC as the Infinite Banking Concept. Two different uses of IBC. Sorry that I cannot help you. Wish you the best
How are these two situations different from each other. 1. Having a policy with cash value and getting loan againt it. 2. Having the same policy and getting a loan from a regular bank. The end result will be same once you pay off the loan. For example, if you get 5 years loan to buy a car, at the end of five years, both situations will have the same outcome.
Great question. The biggest difference is control. For a bank loan, you have to ask for permission (qualify), the bank determines the repayment schedule and if you don’t follow it, you are punished with late fees and a bad mark on your credit report. With a policy loan, there is no qualifying. You determine how/if the loan is repaid and its not reported on your credit. Banks will only loan you money when you don’t need it. To “Become Your Own Banker” you do not need to use life insurance as the asset, you can use a CD, investment account etc, however, because of the guarantees, the tax-free growth and the liquidity, whole life is the best asset to you use.
Thank you for replying to the question. I understand the loan against the policy provide you more control as you said. What I don’t understand how buying a policy and taking a loan against it help you keep the car and at the same time pay yourself interest and get back every dollar you have paid for the auto loan as some people claim?
@@Shahanshas pretty sure its because 1. You use the loan from the insurance company to get the title for the car it yours now. 2. You pay yourself but you don’t steal from yourself meaning you pay what you normally would to the bank to the insurance company. 3. Your no longer paying interest on that vehicle when you pay it off with the full amount of the loan you pay yourself again the full price plus normal interest over the same amount of time pretty sure thats how it works
How do you pay off a mortgage or other debt with one of these policies? If you just now open a policy doesnt it take a long time to build up the cash value? If you cant afford to put a lot of money into the policy each month then how will you ever have any money to pay off a mortgage or other debt?
Great question. We have many clients to use IBC to pay off their mortgage. It does take time to build up your policy, however, you could fund your policy in year 1 then take the cash value to make a principal payment then repeat until you get it paid off. There are some ways to speed it up. If you want to get on a quick call you can schedule it here calendly.com/anthonyfaso/15-min-phone-call. I wish you well! PS. Paying of your mortgage may or may not be the best use of your money. Check out my video about a 15 vs 30 yr mortgage czcams.com/video/i_VNUellMlc/video.html
It truly depends on how your policy was designed. It’s important to consider the clients desires from day one. I personally made sure i started my policy with a certain amount that i could immediately have access to 20k to our bills. My sister (also a CPA/realtor) and I have a financial strategy company with the focus to help with wealth building. We have a program that takes all of your debt into account and strategically calculates values based on a comfortable monthly payment. We would love to help you! Text: 410.988.4614 and we will set up a call to have a plan that works best for you
The money that you would invest into one of these policies would be better used into making additional principal payments. Don't create multiple steps that cost you additional money when you can shortcut it.
im shopping around for an ibc agent i can work with. So far the first two sucked as far as their customer service. Anyway my question to you is: why is it that all the ibc agents (atleast the ones ive spoken with) exclusively build these polocies with Lafayette Life? Inrequested mass mutual or ny life. They said they only work woth lafayette and i found it abit odd. I get that lafayette financials and returns are good, however so are mass and ny. is there something they are not disclosing when it comes to what company can structure this ibc type policy?? Has anyone else reading this also encountered this
This is my opinion: 1. Lafayette Mass Mutual and NYL All the companies are great for IBC. 2. Some agents are “captive” meaning they are limited to use other companies. If they use another company, they need to justify to their agency why they did not use their captive company. 3. Lafayette does a lot to support IBC and that is the main carrier for Bank on Yourself agents 4. MM and NYC push/require their captive agents to get their security licenses so they can offer mutual funds and IRA’s. If someone is a true practitioner of IBC, we don’t believe giving our money to Wall St and “deferring” taxes aka setting a large tax bill for the future. Thus, most of the IBC guys I know are not captive agents with companies that push Wall St. 5. Many people get caught up with what company to use. I will be making a video soon that discusses that topic, (subscribe now so you don’t miss it). Until then, I recommend that you focus on a an experienced agent. You can find one here infinitebanking.org/finder/ . If they are not a Certified Practitioner from the Nelson Nash Institute, I would be concerned if they are qualified and if they are qualified, why not get certified? I will also be creating a video on what to look for in an IBC agent. Until then I would make sure that IBC is all they do. You don’t want a jack of all trades and master of NONE. Ask to see their IBC polices. They need to be doing IBC themselves. 6. A captive agent is ok, because like I said they are all good companies, but some companies are better for different situations. For example, I use one company if someone wants to make a large initial PUA payment, I use another if someone only has a lump sum (sold a business, received an inheritance) and another if someone needs flexibility with their PUA’s. That is why I am not captive. I am appointed with many carriers including MM and Lafayette and I have the freedom to work with the best company for you. If you want to talk further, lets set up a 15 min call. You can do that here calendly.com/anthonyfaso/15-min-phone-call Hope that was helpful. IBC is an amazing strategy, whoever you work with, I wish you the best!
what happens to the cash value in the policy if you die early? of course your family will get the policy face amount, but what happens to the cash value?
Great question! In fact, I just posted a video that answers your question. Check it out here czcams.com/video/v6W9IhlCA9w/video.html. Subscribe so you don't miss the next one. I will be posting FAQ on IBC
My question is, what is a fair charge from an agent to help me get 5 policies? And is the premium type the best, and also what’s the max that i can do per year on each policy.? Thanks much for the info.
I don’t know what a fair charge is since I do not charge a fee. Agents are paid from the insurance company and for me, that is enough. I don’t believe there is a “best” premium (if you are referring to annual or monthly). I recommend you match how you receive your income. You will want to design your policy with flexibility and to match your personal situation. Annual has its advantages, but the problem is where do you store the cash during the year to pay the following yrs premium? In a saving account, earning next to nothing? When a client has the cash to pay the premium annually, I will structure the annual amount to go in as PUA’s aka immediate cash value, then have the premiums paid monthly. The max you can put in is determined by the design. That is why it's important to work with an agent that is an IBC Specialist, someone that is certified by the Nelson Nash Institute. If you want to discuss IBC further, let's schedule a 15-30 min call. You can do that here calendly.com/anthonyfaso/15-min-phone-call . Wish you the best with your pursuit of Infinite Banking
The easiest way to from Amazon. It does come in the Kindle version. However, it's hard to see the numbers on an illustration. Personally, I am not a fan of the audio version. It's a scaled-down version.
Agents try to brand it their own. Whole life is a great place to store reserves. Infinite Banking is the strategy of using the equity inside a policy as collateral to finance major purchases and investments. Wish you well!
There is a gap in the short term, but the gap closes each year. Eventually, your cash value will be much more than your premiums. Infinite Banking is a long term strategy, if you are focused on the short term results, you should not do this. The key component of IBC is that you can use your policy to pay off debt and buy assets, like real estate. And you use the cash flow that is created by either paying off the debt of from the asset. You use that free cash flow to repay the policy. Then you will have the debt paid off or the asset AND your cash value grew every year.
@@InfiniteWealthConsultants what sort of premium equals what sort of policy and if I don't have debt would this even make sense? i currently invest my spare cash after roth IRA, 401k, into a stock account... are you suggesting I pay premiums to have a line of credit so i can invest basically with leverage?
@@AngelMalakim Thanks for the questions! Your 1st question about the “what sort of premium equals what sort of policy?” If you are referring to what the death benefit is based on a premium-An IBC policy is designed very differently than typical whole life. IBC if cash focused not death benefit focused. YOU decide the premium and we design your policy to have as much cash value as the IRS will allow. The death benefit is the icing on the cake. Regarding not having debt: IBC can be used to pay off debt, but it works even better when you use it to buy assets. Even without using your policy, there are many advantages to have some assets outside of the IRS and the volatility of the market, You asked if you should do IBC. I believe that there are many ways to skin a cat, or plan for retirement. IBC is not the only way nor is the stock market. It depends on your goals.
You are putting money into your Roth, 401k and a stock account. Thus 100% of your money is tied to the market. If you trust Wall Street, have a secure job, plan to work until you retire, and think taxes will not go up, then don’t do IBC, keep doing what you are doing. If you want to have some of your assets outside of Wall St. and the IRS, want to create passive income NOW so you can work because you want to not because you have to, lets get an a 15-30 min phone call and see if IBC is for you. You can schedule your call here calendly.com/infinitewealth/discoverycall Whatever you decide to do, we wish you well
I decided to start a policy instead of doing some taxable investing. It’s been 5 years, still haven’t “broke even” on cash value; but it’s close. I get aggregated when financial advisors immediately treat whole life like someone duped me into it.
@@gregwestgarde3247 How are you "duped" if you're making return above policy loan interest, while also being able to arbitrage that cash value loan into other investments? Policy is growing, investments are growing, and all compounding together. Either one alone won't return what the combined can. How is this being duped?
Technically there is not a minimum to get started. As a rule of thumb, I advise people that a good place to start it 10 times your age a month. For Example, if you are 40 yrs old, that would be $400 a month. Hope that helps. Wish you well!
It truly depends because it’s specifically designed to your needs. My sister and I have a financial strategy company with the focus to help with wealth building. Text: 410.988.4614 and we will set up a call to have a plan that works best for you
Disney+ has a documentary on the building of Disney Land. It's pretty interesting. In there the said he had to sell his house to help pay for Disney Land. He probably took money from numerous places, a life insurance policy and mortgage, among others.
We have made many advancements to our content, including a new website and CZcams page. Here is our website infinitewealthconsultants.com/ and our new YT channel czcams.com/users/InfiniteWealthConsultants Sorry for the inconvenience
A properly structured IBC policy will have cash value from day 1. If you want to talk about it, you can schedule a 15 min call with me calendly.com/anthonyfaso/15-min-phone-call
It truly depends on how your policy was designed. It’s important to consider the clients desires from day one. I personally made sure i started my policy with a certain amount that i could immediately have access to 20k to our bills. My sister (also a CPA/realtor) and I have a financial strategy company with the focus to help with wealth building. We would love to help you! Text: 410.988.4614 and we will set up a call to have a plan that works best for you
The reason I don't upload an illustration is that too many people focus on the numbers of a policy and thus are missing the point. IBC is not about the policy it is what you do with the policy. For example, we did a podcast and video on Buying Term and Investing the Difference vs Buying Whole LIfe and investing the Cash Value. You finance everything you buy. You either use credit and pay interest or use cash and lose interest. You either give up or pay up. With IBC and running major purchases or investments through a policy, you will have more cash at the end of the day. You can watch the video here czcams.com/video/sNq8fwHTsm0/video.html I
In my opinion, the first step people should take is to read Becoming Your Own Banker and other research to see if IBC is for you. Then work with a specialist in IBC. The design is different than typical whole life AND how to use it very differently. There are certified agents in Infinite Banking. Here are my 5 questions you should ask an IBC agent czcams.com/video/nzlJuSscag8/video.html . Greg wish you the best with your research
I’m not trying to steer anyone away from Mr. Fasco here, but if you want a deep dive into the numbers, check out the CZcams channel for IBC Global. They go deep into the numbers.
@@gregwestgarde3247 Insofar as normal whole life products, you’re exactly right. It requires an insurance company that will allow a fundamental adjustment to the policy structure. You can count on one hand the number of companies that will allow for such adjustments. They are out there. That’s what I’m referring to when I say, “deep dive.”
It depends on what you what to meet for. If its to learn about creating passive income and wealth outside of Wall Streat, you can schedule a Discover Call here calendly.com/anthonyfaso/discovery-call-dd. If its for something else, you can send an email to Info@infinitWealthCourse.com or call the office at 702-850-8100.
My sister and I have a financial strategy company with the focus to help with wealth building. She is also a CPA if you’re interested in learning how this can work for you. Text: 410.988.4614 and we will set up a call to have a plan that works best for you
IBC is good for anyone that is open to new ideas and ready to take action. For someone on disability or any form of fixed income, I believe that it is even better because they cannot risk losing money. If you have more questions send me an email to Anthony@InfiniteWealthCourse.com. Wish you well
@@AnthonyJFasoCPA I wholeheartedly agree with that answer, and would like to offer my point of view, because I know a blind woman on disability and has a fixed income and I got a chance to explain to her about my IBC policy and she was very excited about it. She told me that she was going to figure out how to take $100 to $200 a month and create her own IBC account oh, so that she can have peace of mind about her future also. I wish more people with low income like mine would understand that you don't have to be stuck in this situation our whole lives and have nothing to give our future Generations. for once in my life, I am very excited about building my future and hope to be able to share this with as many people as possible. the Next Generation does not have to be stuck in the same situation and I hope to change that for as many people as possible.
Thanks for sharing! It is great to hear other points of view. I would like to add: the less assets and income someone has the more crucial it is that their money is going to be there when they need it. I have yet to find a better place to store cash then an IBC policy. Plus, after you account for fees from Wall Street, taxes and the volatility of the market, many times you can create MORE income in retirement with IBC then a 401k. I am working on a video that will illustrate that.
@@AnthonyJFasoCPA So how would you use it as a final expense policy? Since those carriers you mention never come up on the final expense circles? Is usually Foresters, MoO, Transamerica, CFG, Liberty Bankers, Americo, ect.... I wonder why not?
Why is there so much negative hype around whole life insurance? The likes of Dave Ramsey dismiss it as a complete waste of $. I'm looking into it a bit more seriously now, the numbers don't lie.
There was a time when I agreed with the financial entertainers and Wall Street. That was until I got punched in the gut in with the latest financial crisis and saw the devastation it had on my tax clients. That forced me to open my eyes to alternatives to Wall Street and to stop taking my financial planner’s advice as gospel. I started my own research and making my own decisions. Which is what I recommend that you do. Read Becoming Your Own Banker, talk with people that have been practicing IBC for years. Decide for yourself if IBC is going to help you achieve your goals in less time with less risk. If you would like to hope on a 15 min phone call and see if this is for you, you can do that here calendly.com/anthonyfaso/15-min-phone-call Whatever you do, I wish you well! PS. You can also check out our podcast infinitewealthconsultants.com/podcast
Yes it is truly unfortunate, but knowledge is power and I’m glad we learned this process. My sister and I have a financial strategy company with the focus to help with wealth building. If you are still looking into it, we would love to help! Text: 410.988.4614 and we will set up a call to have a plan that works best for you
@@AnthonyJFasoCPA people selling this scam are the only ones making money. The people buying end are too inept to see that they are the only ones putting money into the pot. There is no investment growth. No matter howbyou spin it, the person buying the policy is the only person spending money.
@Isabelle Choi Whole life is poor invesmtent because its not an investment. Whole life is a savings tool. Which you can borrow against to buy investements
If I'm gonna borrow money from my policy why not from my Solo Roth 401K and pay the interest to myself? Let me guess; after reading the book , you became insurance agent also?
You can borrow from your 401k to become your one banker, however a whole life policy is the best product to become your own banker. I will give you the top 3 reasons why a 401k is not the ideal product to “bank” with. 1. 401k have limits on contributions. The IRS tells you how much you can put in each year and you may have to increase your payroll (aka pay more payroll taxes) in order to max fund it. 2. You are limited to how much you can borrow. Most 401k’s allow for a max loan of 50% of your balance or $50,000 which ever is LOWER. Why limit yourself? 3. Break the compound interest curve when you use a 401k loan. Your 401k balance stops earning interest when you have a loan against it, a properly structured IBC policy will NOT.
I live in the San Francisco Bay. My 401k is basically useless for use like this. $50k is less than most folks pay in RENT here in a year, much less actionable for investments. If the solo 401k didn't have contribution limits and more importantly, loan caps, you'd be somewhat correct. I had this same argument with a guy in Missouri, and my examples were a decimal point to the right of his. He was a house flipper, but he was buying properties with 401k loans where $20k or less was enough to get the ball rolling. Here (and New York, and S. Florida, etc), move the decimal point over. Trust me. I struggled with this argument of paying interest to yourself vs. paying it to a mutual company, but the dividend payment keeps compounding, unlike the 401k money which STOPS growing when the money is out on loan (to yourself). I'd love for someone that understands a better way to utilize any QRP program out there to do IBC equal to or better than using Life Insurance, to include the tax advantages. If there is a ROTH "hack", I'd love to know it. But it's gotta allow a minimum loan play of $250k at a schwack, or it's only gonna be good for Des Moines and Graybull, WY market level players. I was turned on to the idea by a few high 6 to 7 figure earners here in Silicon Valley with 8 figure net-worth (far from my level), so I paid attention and started to study up. I am shocked that I was in my 40s before I'd even heard of the concept. Not an argumentative post, Kwik Rehabbers...I'm genuinely soliciting any info on other ways to skin the cat. I'm funding some folks that are rehabbing/flipping in the greater Sacramento market this year, and I am all ears on how you can better flow the funds in an optimized way.
A 401k will be taxed versus insurance that has tax free benefits. The best part is you do not have to pay it back and you have more control over your money regardless of your age. The other main part is that if you remove money from your 401k you lose out on the compounding interest effect whereas insurance it’s as if you never touched it which helps your money grow faster. And another point is the guarantee vs complete exposure to the market up and downturns
The other item that people don't know is banks own billions of dollars in whole life insurance policies. We all know banks know how to make money so why would they invest a penny in whole life if they have all kinds of smart stock brokers working at their firms selling stocks to clients?
Great point Mike! Banks understand money very well. That is why Well Fargo as $22 billion in cash value life insurance which is more than all their buildings and equipment combined. We suggest you do what banks do NOT what banks say to do
Banks buy insurance as a hedge. They know that people like you will buy unnecessary policies that fuel their income. Banks get loans from the federal reserve when they have great credit ratings. When they don't they resort to borrowing from other financiers with more aggressive interest rates. Don't be fooled by these concepts. You may want to study real banking and investment concepts. In this program you are the only person putting up money. When Banks buy insurance they want things to go well some their are limited claims on policies. When that happens the premiums turn into pure profit.
Just because these people borrowed money from there policies to fund great business ideas, still doesn’t make the product a great product… They all still took a major loss by having there money in their policy, when they could have had it in a better/real investment vehicle…
Just because these people borrowed money from there policies to fund great business ideas, still doesn’t make the product a great product… They all still took a major loss by having there money in their policy, when they could have had it in a better/real investment vehicle… Thanks for the comment. That is a common misunderstanding. IBC is no an either/or. Put your money in life insurance or a “better/real investment vehicle.” IBC is an AND. Put your money in life insurance AND a “better/real investment vehicle” As Nelson Nash wrote in his book Becoming Your Own Banker, you finance everything you buy. You either finance and pay interest or you pay cash and give up interest. Here is a video comparing buying cash for an investment vs IBC czcams.com/video/c0RJJTYjP4c/video.html One of my favorites is the “Buy term invest the difference” myth. We did the math on that too. czcams.com/video/sNq8fwHTsm0/video.html I am the first to admit that IBC is over sold as a magic bullet, but it over the long term it works. Wish you the best
Not needed in today's finance world. M1 Finance makes this obsolete. Invest your money in the market, get access to 35% of it immediately at 2% interest. Show the returns and interest rates on the insurance policies.... oh... no one ever does that because you'd see it's a negative interest carry. Sure the market has volatility, but long term it's going to rise and you can be as conservative as you want and still beat return rates on whole life policies.
Why cannot you do both? IBC is not “put your money is life insurance OR the market.” You can do both. Anyone that states otherwise does not understand Infinite Banking. We did the math. Check out this video of Buy Term Invest the Difference VS Buy Whole Life and Invest the Cash Value czcams.com/video/wu83k1I99uw/video.html Because you can do both, its not about the rate of return inside the policy. That is why we don’t have videos about the rate of return on CZcams. We do on our online course. It sidetracks the message then people start comparing polices to the market. They are two very different asset classes. But since you asked, the polices we design have a rate of return between 3.5%-4%. Most people stop here and think, they can do better else were. But we need to look at the bottom line. Since that is after taxes, that is the equivalent of earning +6% in a taxable account. If we add back fees paid for term insurance and to a typical financial advisor. The rate is even higher. In today’s finance world, (inflation, pending recession & rising taxes) Infinite Banking is needed more than ever. Thanks for the comment. Wish you the best with your finances!
@@mustseevideos7777 I think I am the only Recovering CPA that is also an IBC Practiconer. You can schedule a 15-30 min call with me to discuss your goals and see if we are a good fit. You can schedule that here calendly.com/anthonyfaso/15-min-phone-call Looking forward to our chat.
Great question! There is a lot of misinformation on that so I created a 5 min video to fully explain the numbers. You can check it out here czcams.com/video/v6W9IhlCA9w/video.html Let me know if you have any other questions. Wish you the best
@@astroman30 Your beneficiaries get the death benefit. Some mistakenly say that the insurance company “steals” the cash value. Here are the facts: The death benefit in whole life grows every year because of dividends and paid-up additions. The growth of the death benefit is typically higher than the growth of the cash value. Thus, the death benefit that is paid out is higher than the cash value at that time plus the original death benefit. In the 5 min video, I walk you through an actual illustration so you can see the numbers. Hope that helps.
@@AnthonyJFasoCPA Yet, you still won't answer a direct question. You're a CPA, do you not answer questions that your clients ask? This is making us question your credibility.
This is a total SCAM. I've got two illustrations for 10K funding and almost funded it. The cost if a 30 year term for my age is 55$/mo or 187$ for whole life. IBC cost much more. If you have 10K to invest a year, go buy a value stock for 8K a year. Why would you let the take your money for a small dividend, charge you to loan your own money and pay 2-3 times more for the life insurance premiums??
Thanks for the comment. I know there are others that feel the same way. I do have a few points: 1. If you do the math on Buying Term and Investing the Difference vs buying the same assets with a policy loan after 30 years you will have 50% MORE using Infinite Banking. 2. We are posting a podcast & a detailed video where we walk through the numbers and explain why we have 50% more. 3. “Paying interest on your own money” is a common incorrect statement. You are not using your money. You are using the insurance companies’ money. They use your policy as collateral. Thus your policy is continuing to grow even though you are using it. You never broke the compound interest curve. 4. I bet your agent was not certified in Infinite Banking and may not know how to design an Infinite Banking policy. You can find a list of certified agents at infinitebanking.org/finder/. FYI you will find me there. 5. I encourage you to do more research and only work with a certified agent. Whatever you do I wish you well! PS. All new content is at the Infinite Wealth Consultants channel and check out the Infinite Wealth Podcast
@@AnthonyJFasoCPA I believe that 4% (non guaranteed) won't get you higher than a value stock which pays 3%-4% dividend+ a covered call premium (even with the compound interest). Any way the dividend pad by IBC is less that the loan's interest = negative cash flow. And yes, if I'm overfunding the policy with 7K/year on the top of my premiums cost, it is a loan against my money.
Because I won't need to say "Welcome to Walmart" for 5 years when a bear market hits during my retirement age, and I can guarantee that my heirs will never need to eat government cheese like I did as a child.
@@abark you do know that when the market crashes insurance companies take a Supreme hit as well right? You better hope there isn't a crash because there would be no money left for the insurance companies to pay out.
Seems deceptive that you are using your credentials as a CPA to try to sell legitimacy about IBC (and then you go on to sell these insurance policies to customers??) This video is an ad for your insurance business... do you still even do accounting professionally? People selling infinite banking are so slimy.
Cannot stand slimy people either which is why I created this video. Walt Disney and our current president have used the concept. Infinite Banking is not for everyone, but it is not a scam. Don't think you and I are a good fit, but you can find more information and a certified IBC agent at infinitebanking.org. Wish you well your research!
These IBC schemes are ridiculous and predatory. Why introduce a middleman between you and your savings, especially when that middleman profits from fees and interest each time you try to access your own funds? Shame on you for not telling people to RUN from these things.
At first, I thought the same thing. I ran away from any life insurance agent, especially ones recommending whole life. And I was just as skeptical about IBC the first time I heard it. That is until I stopped listening to the noise and did my own research. I did the math. IBC works without a doubt. Here is one example of using a savings account vs IBC to store money to buy real estate. If whole life was as terrible as you think, why would it still be around after 200 years? Why are the wealthy and the banks buying more and more of it each year? Either they are stupid, or they know something you don’t. In regard to fees. Name a financial product that does not have fees? If you pay 1% fee to a financial planner, after 20 years, the financial planner would have earned 4.5 times MORE then your IBC agent. That is not accounting for any fees inside the products they recommend. To me that is a shame. Do your own research. You may find out that IBC is not for you. Its not for everyone. But to say it’s a scam is inaccurate.
Well the thing about those wealthy people you mentioned is I AM ONE OF THEM. So I have done quite fine without IBC over the years. I’m convinced IBC is about insurance peddlers profiting from high fees. That’s what this is really about at its core.
@@ContrarianExpatriate I felt the same way about IBC, until I did my own research. For the same premium, a typical life agent get will get paid 300% MORE than paid properly designed IBC policy. The point of the video was not to say ALL wealthy people use IBC, it was to show that IBC is not a scam. Many people including entrepreneurs and politicians have and are using IBC. That is awesome that you became wealthy! But if you had practiced IBC you would have had more wealth and paid less in taxes. I am sure you are skeptical. I was. Check out this video to see the math comparing buying an asset with cash versus buying the same asset using IBC. czcams.com/video/c0RJJTYjP4c/video.html I posted this in my last reply to your comment. Did you watch it?
FYI. Most IBC agents use IBC to finance liabilities like cars and vacations. We use it to finance assets like real estate and businesses. Here is how we use IBC: Infinite Banking in 12 Minutes czcams.com/video/710jHPmvWXc/video.html Wish you the best and thanks for commenting. I am sure others feel the same way, this way I have a chance to address their concerns.
PS. Before someone comments that you should buy term and invest the difference, we did the math on that too czcams.com/video/sNq8fwHTsm0/video.html
As an accountant, I’m happy to hear this from a CPA! So hard to understand from some of these life insurance agents. My current whole life policy won’t have a cash value until 5 or 7 years. Time to read and research.
Glad you found it helpful. More to come. Sounds like you have a typical whole life policy. Do your research. We do have a course that explains the basics of IBC and advanced ways to use your policy. You can check it out at www. InfiniteWealthCourse.com Access is $500 however if you email me at info@infinitewealthcourse.com, I tell you how to get free access. FYI. You may be able to transfer yourpolicy to an IBC policy aka cash value from day one. We can show you how.
The only way to discover if this system has value is with a spreadsheet...and IBC doesnt look good on a spreadsheet. Don't bother with the philosophy.
@@gregwestgarde3247 IBC is a concept. The policy is only the product that is used. If you focus only on the product you are missing the point. IBC is not an either or (put your money in life insurance OR real estate OR your business OR the market) IBC is an AND (put your money in life insurance AND real estate AND your busines AND the market)
If want to see a spreadsheet, you need to see our video on “Why You Should NOT Buy Term and Invest the Difference.” We walk through how and why running investments through a policy will provide you a higher net worth and more importantly higher cash flow in retirement. Here is a link to part one of the video czcams.com/video/lDn4SGhopLI/video.html. Part two should post next week.
@@AnthonyJFasoCPA And asset is a good one. This is another one of IBC’s many popular phases that is ridiculous. Any asset is either worth having or not worth having on their own merit. Finance does have nuances but this does not qualify. If A asset is better than B asset, B is not an “and” asset, it’s an asset that should be sold to buy A asset or never have purchased in the first place.
@@AnthonyJFasoCPA -- some just aren't going to get it. They are not evaluating policies as a 1. Tax free savings with uninterrupted compound interest of 3-6% with an IRR of 4%+. 2. They don't understand the liquidity. 3. That once it's funded they effectively can have $$$ working in two places.
Mr. Nash started the juices flowing. Once flowing, a deeper look into cash value permanent life insurance, namely a dividend-paying whole life policy issued by a mutually structured carrier, caused a radical mental shift resulting in me protecting and multiplying more cash (well over 6 figures over 3 different policies) than I had ever amassed in my then 54 year-old life and starting me on a journey to discovering the power of uninterrupted growth.
He has changed many of lives. Thanks for sharing!
Thanks Anthony .. for your honest opinion .. words from someone like you makes a regular person like me to believe in this concept more ..
Bobby, thank you for your kinds words. Glad I was able to help. I would recommend you check out my on the Top 5 Questions to ask an IBC Agent czcams.com/video/THEU2ASkDDc/video.html and Should you Get a 15 or 30yr mortgage czcams.com/video/i_VNUellMlc/video.html and the Infinite Wealth Podcast. Wish you well with your pursuit on learning the Infinite Banking Concept.
Love this content. Thank you for explaining this. I have had my whole life policy for a year now utilizing it as a bank, just like you explained. Also, I had over 85% cash value available immediately that I used to pay off some loans and credit cards. I love the fact that you get to keep your money and still pay off bills with OPM.
Great to hear. Thanks for sharing
I am starting my IBC account soon and already know what i am going to do with my first policy loan. I also will be paying back myself large amounts of interest to help build my policy even larger.
Phillip DeBord wells done! Do you mind me asking what you are going to do with your first policy loan?
Anthony J. Faso CPA... I have some updating to do on my house first. After i pay myself back, i will be buying my first new car. I look forward to charging myself interest on these policy loans. I wish i had known about this years ago!
That is awesome. Thanks for sharing. Wish you well.
I don’t get it, how are you paying yourself interest. Doesn’t the interest go to the insurance company? If you just spent the cash vs going into the policy there would be no interest. How is paying interest a good thing?
Bryan, great question! There is a BIG difference between paying cash vs using IBC. When you pay cash how much is your money earning in interest? Zero, you have drained your account. With IBC your money continues to compound. I expect that you are looking for a more detailed example however the comment section of CZcams is not sufficient. Fortunately, I have had a webinar on IBC on Oct 17th. I will show you the math behind paying cash vs IBC. If you want to learn more, you can sign up at zoom.us/webinar/register/WN_el2aHNpWSIeN1do-3wOn5g . If you cannot make it, sign up and I will send you a recording. Hope that was helpful.
I have my policy. Boy do I wish that I have done this sooner. My wife and I have only had this ploicy for 5 years and have access to over $120,000 in cash value. Borrowed $16,000 two years ago to purchase a car. Not sure how early I could have borrowed but I did it as early as year 3.
That's awesome. Thanks for sharing. With an Infinite Banking policy, you can take your first loan in 30 days. PS. My new videos will be posted on my new channel, Infinite Wealth Consultants. Check it out at czcams.com/channels/btEcy_8F_ad7LPSXXAuBEw.html
How much are your premiums per year, $25k?
Thank you so much for sharing your information, both in the video and thoughtfully replying to comments. I'm in the 'due diligence' learning curve of this process, preparing to purchase a policy. I have a question I haven't seen addressed anywhere yet. If I'm making premium payments; say $400. a month, and I take a loan on my policy, which I need to repay; say $200. a month. Am I correct in thinking I now need to have $600. a month to pay? Did I miss anything?
So, if I have the money to buy a car, but instead buy a policy (with overfunded monthly payments) and borrow from myself to buy a car, now I need money for both policy payments And car payments. Is that right? Thank you again.
Sherry, Great question! And you answered it correctly. It’s kind of like if you bought a car would you stop saving for retirement? Thus, in your example, you should make your premium payments and your car payment.
It sounds like you have read Nelson’s book, Becoming Your Own Banker. We created a video walking you through the section of the book about buying a car. It is not public on our channel, its only available through this link czcams.com/video/PvQm1d5X2TI/video.html.
I also created a video of 5 things you should as an IBC agent czcams.com/video/nzlJuSscag8/video.html
Glad you are doing your research. I wish you well.
It truly depends on how your policy was designed. It’s important to consider the clients desires from day one. I personally made sure i started my policy with a certain amount that i could immediately have access to 20k to our bills. You technically don’t have to pay the policy loan back because it doesn’t really help building your cash value faster. Just continue to dump money into your cash value and the interest will eventually replace it. My sister (also a CPA/realtor) and I have a financial strategy company with the focus to help with wealth building. We also have a debt elimination software that calculates all your bills/debt for payment in 12-15 years and less for many based on a comfortable monthly premium amount. We would love to help you!
Text: 410.988.4614 and we will set up a call to have a plan that works best for you
I’ve just started looking into IBC. I’m pretty novice, so I’m curious, you talked about buying up real estate, can you use the IBC in place of a traditional mortgage company for personal home ownership as well? What are your thoughts?
Great question Dillon, why would you not be able to? As Nelson Nash says you finance everything you buy. You either pay credit and pay interest or you pay in cash and loose interest. With IBC you get the best of both. As you are doing your research on IBC you should also do research on what agent you should use. I did make a video of the Top 5 Questions to ask an IBC Agent czcams.com/video/nzlJuSscag8/video.html. I wish you well!
@@AnthonyJFasoCPA Thank you!
It truly depends on how your policy was designed. It’s important to consider the clients desires from day one. My sister (also a CPA/realtor) and I have a financial strategy company with the focus to help with wealth building. We would love to help you!
Text: 410.988.4614 and we will set up a call to have a plan that works best for you
Hi there, What are the best companies to have a policy with in Canada 🇨🇦
I believe there are only 2 or 3 companies in CA that are good for IBC. Your results from IBC are about 20% from the insurance company and 80% how you use it. The company is important but what is more important is to work with a Certified IBC Practitioner. You can find one here infinitebanking.org/finder/ We work with a couple IBC guys in CA. If you email me at info@infinitewealthcourse.com I will put you in touch with one of them. Wish you well!
Thank you!!! I am a life insurance broker. I was trying to explain to my dad who is a cpa. I’m so grateful for this video.
Glad you found it helpfu. CPA's are not the easiest to teach new things to :) Wish you the best in your business
@@AnthonyJFasoCPA lol yes very true. Thank you! Good luck to you as well:)
Would it make sense to take a loan on investment property to fund a policy. I would then use that money from the established policy to invest in passive generating assets. I can take out $300,00 in equity costing me around $!400 per month. (3.5% interest) Of course any investment would have to make at least 3.5% plus the cost to pay interest of 4-5% from the policy cost. Would this make financial sense ? Thanks for great video.
Why cost yourself more money if you can tap into $300k worth of equity? You would have the money to invest right away. Don't spend money on unnecessary complexity.
Which permanent insurance is better and why? Whole life or iul? Both rep that I've spoken to says the same thing. I've never been more confused about anything.
Great question. Sorry that you are confused. I will be posting a video soon on why I have NEVER recommended an IUL. Until then I will share this: Whole life is boring and IUL are "sexy". By sexy I mean it sounds good, "no downside" . Once you look under the covers, it MAY not be so rosy. There is a cap on the growth. When you combine the cap on losses and gains, it will perform similarly to whole life. Also, IUL's can go bankrupt! ie. if the gains are not as high as planned and if expenses are higher then planned, you can lose your policy. Thus every dollar you put in is gone! If you don't believe me, look at the back of the illustration and you will find 2-3 scenerios where the policy. You don't have to take on that risk with Whole LIfe. Plus with Whole Life you can "use " the cash value to invest. For example I have clients using their whole life polices to great passive income. In fact, by running your money "through" a policy you can improve your results. Check out my videos where I do the math czcams.com/video/OIYUIEM1nwM/video.html. Wish you well. If you still have questions, let me know and I will send you a link to scheudule a 15 min call.
I am going with plain old whole life.
@@rajbeekie7124 hope you went one of the top 4 companies. They aren't all the same.
Here is the video we did on IUL's and WL czcams.com/video/42Qnih_dFfw/video.html
You said it too. It's an "and". How exactly is it an "and" asset. I understand I buy whole life w/cash benefit. I get paid dividends on it. Now I borrow money based on my cash value. Now my basic understanding of accounting is 10k in whole life cash - 10k in whole life loan, plus asset I buy with loan I borrow is still just 10k as an asset. I am just juggling the asset from one hand to another. For that privilege I pay the interest.
It's not an "and" asset. Now I also understand that my net interest rate on the loan in the end is the spread between the loan rate and the dividend rate. How is this so much better? If I have 10k in the bank, I can go get it. If I have 10k in the whole life policy...I can go get it. Why is this so much better?
@@michaeltharp2535 - why would I just leave 10k around earning 1%. If I am able to send it to an Infinite Banking insurance product, then I am certainly able to afford investing it somewhere else other than 1% at a bank. Still does not make sense.
And if you weren't smart enough to make more than 1% on it before I put it in Infinite Banking, how is the person any smarter to make more than the interest payments that I have to pay my Infinite Bank? Does not make sense
My understanding is when you borrow against the cash value of a whole life policy you are not actually taking money out. You are creating a new loan. So your cash value stays there earning interest and is the collateral of the new loan. It works as far as it goes but you can also do this with other assets. Margin accounts on stock. Securing a loan against your portfolio.
You are NOT borrowing or withdrawing the $10k from your policy, so it continues to earn 3-6% interest/dividends. Your death benefit acts as collateral for a loan from either a bank (which you lose control of how you want to pay it back and is reported to credit agencies for debt to income ratios) or from the Insurance Company (which is not reported to any credit agencies and doesn't affect your credit and you DECIDE how you want to pay it back). That $10k loan than can be used to purchase assets > than the interest of the loan you're paying on. So if you were to buy dividend stocks with a proven track record of 10% year after year and the loan was for 5%, then your money is earning 3-6% Cash Value on $10k and earning 5% (10% - 5%) on the stock dividends. The policy of course has NO taxation on it.
Hi I just watched your video on IBC I hope it's the same company IBC EXCHANGE London if so I ask you how did you go withdrawing funds did they ask you to pay tax before they would release the funds because its a u.k company and I'm in Australia or am I being scammed, I'm not a rich person and if I barrette money for the tax and I don't see the profits I am stuffed and most likely loose my house please if you cam help me thatt would be great
Thank you once again
Exchange IBC is a broker for trading assets. We are referring to IBC as the Infinite Banking Concept. Two different uses of IBC. Sorry that I cannot help you. Wish you the best
How are these two situations different from each other. 1. Having a policy with cash value and getting loan againt it. 2. Having the same policy and getting a loan from a regular bank. The end result will be same once you pay off the loan. For example, if you get 5 years loan to buy a car, at the end of five years, both situations will have the same outcome.
Great question. The biggest difference is control. For a bank loan, you have to ask for permission (qualify), the bank determines the repayment schedule and if you don’t follow it, you are punished with late fees and a bad mark on your credit report. With a policy loan, there is no qualifying. You determine how/if the loan is repaid and its not reported on your credit.
Banks will only loan you money when you don’t need it.
To “Become Your Own Banker” you do not need to use life insurance as the asset, you can use a CD, investment account etc, however, because of the guarantees, the tax-free growth and the liquidity, whole life is the best asset to you use.
Thank you for replying to the question. I understand the loan against the policy provide you more control as you said. What I don’t understand how buying a policy and taking a loan against it help you keep the car and at the same time pay yourself interest and get back every dollar you have paid for the auto loan as some people claim?
@@Shahanshas pretty sure its because 1. You use the loan from the insurance company to get the title for the car it yours now. 2. You pay yourself but you don’t steal from yourself meaning you pay what you normally would to the bank to the insurance company. 3. Your no longer paying interest on that vehicle when you pay it off with the full amount of the loan you pay yourself again the full price plus normal interest over the same amount of time pretty sure thats how it works
How do you pay off a mortgage or other debt with one of these policies? If you just now open a policy doesnt it take a long time to build up the cash value? If you cant afford to put a lot of money into the policy each month then how will you ever have any money to pay off a mortgage or other debt?
Great question. We have many clients to use IBC to pay off their mortgage. It does take time to build up your policy, however, you could fund your policy in year 1 then take the cash value to make a principal payment then repeat until you get it paid off. There are some ways to speed it up. If you want to get on a quick call you can schedule it here calendly.com/anthonyfaso/15-min-phone-call. I wish you well!
PS. Paying of your mortgage may or may not be the best use of your money. Check out my video about a 15 vs 30 yr mortgage czcams.com/video/i_VNUellMlc/video.html
It truly depends on how your policy was designed. It’s important to consider the clients desires from day one. I personally made sure i started my policy with a certain amount that i could immediately have access to 20k to our bills. My sister (also a CPA/realtor) and I have a financial strategy company with the focus to help with wealth building. We have a program that takes all of your debt into account and strategically calculates values based on a comfortable monthly payment. We would love to help you!
Text: 410.988.4614 and we will set up a call to have a plan that works best for you
Mortgage rates are approx. 2%. Do not, I repeat, do not pay your mortgage off with this stuff.
The money that you would invest into one of these policies would be better used into making additional principal payments. Don't create multiple steps that cost you additional money when you can shortcut it.
im shopping around for an ibc agent i can work with. So far the first two sucked as far as their customer service. Anyway my question to you is: why is it that all the ibc agents (atleast the ones ive spoken with) exclusively build these polocies with Lafayette Life? Inrequested mass mutual or ny life. They said they only work woth lafayette and i found it abit odd. I get that lafayette financials and returns are good, however so are mass and ny. is there something they are not disclosing when it comes to what company can structure this ibc type policy?? Has anyone else reading this also encountered this
This is my opinion:
1. Lafayette Mass Mutual and NYL All the companies are great for IBC.
2. Some agents are “captive” meaning they are limited to use other companies. If they use another company, they need to justify to their agency why they did not use their captive company.
3. Lafayette does a lot to support IBC and that is the main carrier for Bank on Yourself agents
4. MM and NYC push/require their captive agents to get their security licenses so they can offer mutual funds and IRA’s. If someone is a true practitioner of IBC, we don’t believe giving our money to Wall St and “deferring” taxes aka setting a large tax bill for the future. Thus, most of the IBC guys I know are not captive agents with companies that push Wall St.
5. Many people get caught up with what company to use. I will be making a video soon that discusses that topic, (subscribe now so you don’t miss it). Until then, I recommend that you focus on a an experienced agent. You can find one here infinitebanking.org/finder/ . If they are not a Certified Practitioner from the Nelson Nash Institute, I would be concerned if they are qualified and if they are qualified, why not get certified? I will also be creating a video on what to look for in an IBC agent. Until then I would make sure that IBC is all they do. You don’t want a jack of all trades and master of NONE. Ask to see their IBC polices. They need to be doing IBC themselves.
6. A captive agent is ok, because like I said they are all good companies, but some companies are better for different situations. For example, I use one company if someone wants to make a large initial PUA payment, I use another if someone only has a lump sum (sold a business, received an inheritance) and another if someone needs flexibility with their PUA’s. That is why I am not captive. I am appointed with many carriers including MM and Lafayette and I have the freedom to work with the best company for you.
If you want to talk further, lets set up a 15 min call. You can do that here calendly.com/anthonyfaso/15-min-phone-call
Hope that was helpful. IBC is an amazing strategy, whoever you work with, I wish you the best!
Was that helpful? Did you find an IBC agent?
@@AnthonyJFasoCPA i did. Went with lafayette
@@Dahmer_Jeff Fantastic they are a good company. Wish you well!
The agent I used has written three policies for us through Ohio National.
what happens to the cash value in the policy if you die early? of course your family will get the policy face amount, but what happens to the cash value?
Great question! In fact, I just posted a video that answers your question. Check it out here czcams.com/video/v6W9IhlCA9w/video.html. Subscribe so you don't miss the next one. I will be posting FAQ on IBC
Cash value is typically added to the death benefit amount and then all of it is given to your beneficiary tax free
@@chaunellabrams4611 Not true. You will only get the death benefit.
If you have outstanding loans they get reconciled you lose out on that portion of the death benefit. You lose the entire cash value.
My question is, what is a fair charge from an agent to help me get 5 policies?
And is the premium type the best, and also what’s the max that i can do per year on each policy.?
Thanks much for the info.
I don’t know what a fair charge is since I do not charge a fee. Agents are paid from the insurance company and for me, that is enough. I don’t believe there is a “best” premium (if you are referring to annual or monthly).
I recommend you match how you receive your income. You will want to design your policy with flexibility and to match your personal situation. Annual has its advantages, but the problem is where do you store the cash during the year to pay the following yrs premium? In a saving account, earning next to nothing? When a client has the cash to pay the premium annually, I will structure the annual amount to go in as PUA’s aka immediate cash value, then have the premiums paid monthly.
The max you can put in is determined by the design. That is why it's important to work with an agent that is an IBC Specialist, someone that is certified by the Nelson Nash Institute. If you want to discuss IBC further, let's schedule a 15-30 min call. You can do that here calendly.com/anthonyfaso/15-min-phone-call . Wish you the best with your pursuit of Infinite Banking
where can i get this book?
The easiest way to from Amazon. It does come in the Kindle version. However, it's hard to see the numbers on an illustration. Personally, I am not a fan of the audio version. It's a scaled-down version.
Is it same as private reserve account
Agents try to brand it their own. Whole life is a great place to store reserves. Infinite Banking is the strategy of using the equity inside a policy as collateral to finance major purchases and investments. Wish you well!
how much of the premium is gone, and you never see it again?
There is a gap in the short term, but the gap closes each year. Eventually, your cash value will be much more than your premiums. Infinite Banking is a long term strategy, if you are focused on the short term results, you should not do this. The key component of IBC is that you can use your policy to pay off debt and buy assets, like real estate. And you use the cash flow that is created by either paying off the debt of from the asset. You use that free cash flow to repay the policy. Then you will have the debt paid off or the asset AND your cash value grew every year.
@@InfiniteWealthConsultants
what sort of premium equals what sort of policy and if I don't have debt would this even make sense?
i currently invest my spare cash after roth IRA, 401k, into a stock account... are you suggesting I pay premiums to have a line of credit so i can invest basically with leverage?
@@AngelMalakim Thanks for the questions! Your 1st question about the “what sort of premium equals what sort of policy?” If you are referring to what the death benefit is based on a premium-An IBC policy is designed very differently than typical whole life. IBC if cash focused not death benefit focused. YOU decide the premium and we design your policy to have as much cash value as the IRS will allow. The death benefit is the icing on the cake.
Regarding not having debt: IBC can be used to pay off debt, but it works even better when you use it to buy assets. Even without using your policy, there are many advantages to have some assets outside of the IRS and the volatility of the market,
You asked if you should do IBC. I believe that there are many ways to skin a cat, or plan for retirement. IBC is not the only way nor is the stock market. It depends on your goals.
You are putting money into your Roth, 401k and a stock account. Thus 100% of your money is tied to the market. If you trust Wall Street, have a secure job, plan to work until you retire, and think taxes will not go up, then don’t do IBC, keep doing what you are doing.
If you want to have some of your assets outside of Wall St. and the IRS, want to create passive income NOW so you can work because you want to not because you have to, lets get an a 15-30 min phone call and see if IBC is for you. You can schedule your call here calendly.com/infinitewealth/discoverycall
Whatever you decide to do, we wish you well
I decided to start a policy instead of doing some taxable investing. It’s been 5 years, still haven’t “broke even” on cash value; but it’s close. I get aggregated when financial advisors immediately treat whole life like someone duped me into it.
Eric, it is frustrating to hear typical financial advice. Glad that you started your own policy. Have you used it to finance anything yet?
Anthony J. Faso CPA , I have not taken a policy loan yet. Plan on looking at it in the next year or so for financing a car
@@ericjuli6576 Sounds good. Wish you well
I’m a owner of a finance company and an insurance agent. You were duped. Sorry
@@gregwestgarde3247 How are you "duped" if you're making return above policy loan interest, while also being able to arbitrage that cash value loan into other investments?
Policy is growing, investments are growing, and all compounding together. Either one alone won't return what the combined can.
How is this being duped?
I need your help
That is what we are here for. You can schedule a 15-30 min call here calendly.com/infinitewealth/discoverycall
How much money do you need to start IBC?
Technically there is not a minimum to get started. As a rule of thumb, I advise people that a good place to start it 10 times your age a month. For Example, if you are 40 yrs old, that would be $400 a month. Hope that helps. Wish you well!
It truly depends because it’s specifically designed to your needs. My sister and I have a financial strategy company with the focus to help with wealth building.
Text: 410.988.4614 and we will set up a call to have a plan that works best for you
Walt Disney took out a 3rd mortgage on his house to help complete Disneyland.
after he already withdrew $50,000 from his whole life cash thought to start it
Disney+ has a documentary on the building of Disney Land. It's pretty interesting. In there the said he had to sell his house to help pay for Disney Land. He probably took money from numerous places, a life insurance policy and mortgage, among others.
Your website doesn’t work it’s shut down ??
We have made many advancements to our content, including a new website and CZcams page. Here is our website infinitewealthconsultants.com/ and our new YT channel czcams.com/users/InfiniteWealthConsultants Sorry for the inconvenience
How long does it take to accumulate a cash value in the policy?
A properly structured IBC policy will have cash value from day 1. If you want to talk about it, you can schedule a 15 min call with me calendly.com/anthonyfaso/15-min-phone-call
It truly depends on how your policy was designed. It’s important to consider the clients desires from day one. I personally made sure i started my policy with a certain amount that i could immediately have access to 20k to our bills. My sister (also a CPA/realtor) and I have a financial strategy company with the focus to help with wealth building. We would love to help you!
Text: 410.988.4614 and we will set up a call to have a plan that works best for you
Can you please upload a spreadsheet of a typical or sample policy
The reason I don't upload an illustration is that too many people focus on the numbers of a policy and thus are missing the point. IBC is not about the policy it is what you do with the policy. For example, we did a podcast and video on Buying Term and Investing the Difference vs Buying Whole LIfe and investing the Cash Value. You finance everything you buy. You either use credit and pay interest or use cash and lose interest. You either give up or pay up. With IBC and running major purchases or investments through a policy, you will have more cash at the end of the day. You can watch the video here czcams.com/video/sNq8fwHTsm0/video.html I
In my opinion, the first step people should take is to read Becoming Your Own Banker and other research to see if IBC is for you. Then work with a specialist in IBC. The design is different than typical whole life AND how to use it very differently. There are certified agents in Infinite Banking. Here are my 5 questions you should ask an IBC agent czcams.com/video/nzlJuSscag8/video.html . Greg wish you the best with your research
I’m not trying to steer anyone away from Mr. Fasco here, but if you want a deep dive into the numbers, check out the CZcams channel for IBC Global. They go deep into the numbers.
@@rogerdsmith these guys do not know the meaning of “deep dive”. I study finance. This does not work on a fundamental level.
@@gregwestgarde3247 Insofar as normal whole life products, you’re exactly right.
It requires an insurance company that will allow a fundamental adjustment to the policy structure. You can count on one hand the number of companies that will allow for such adjustments. They are out there.
That’s what I’m referring to when I say, “deep dive.”
How do I connect with you personally? Your last comment
It depends on what you what to meet for. If its to learn about creating passive income and wealth outside of Wall Streat, you can schedule a Discover Call here calendly.com/anthonyfaso/discovery-call-dd. If its for something else, you can send an email to Info@infinitWealthCourse.com or call the office at 702-850-8100.
My sister and I have a financial strategy company with the focus to help with wealth building. She is also a CPA if you’re interested in learning how this can work for you.
Text: 410.988.4614 and we will set up a call to have a plan that works best for you
Is IBC good for someone on disability that has some money to start this with?
IBC is good for anyone that is open to new ideas and ready to take action. For someone on disability or any form of fixed income, I believe that it is even better because they cannot risk losing money. If you have more questions send me an email to Anthony@InfiniteWealthCourse.com. Wish you well
That is probably a bad idea.
@@AnthonyJFasoCPA I wholeheartedly agree with that answer, and would like to offer my point of view, because I know a blind woman on disability and has a fixed income and I got a chance to explain to her about my IBC policy and she was very excited about it. She told me that she was going to figure out how to take $100 to $200 a month and create her own IBC account oh, so that she can have peace of mind about her future also. I wish more people with low income like mine would understand that you don't have to be stuck in this situation our whole lives and have nothing to give our future Generations. for once in my life, I am very excited about building my future and hope to be able to share this with as many people as possible. the Next Generation does not have to be stuck in the same situation and I hope to change that for as many people as possible.
Thanks for sharing! It is great to hear other points of view. I would like to add: the less assets and income someone has the more crucial it is that their money is going to be there when they need it. I have yet to find a better place to store cash then an IBC policy. Plus, after you account for fees from Wall Street, taxes and the volatility of the market, many times you can create MORE income in retirement with IBC then a 401k. I am working on a video that will illustrate that.
@@AnthonyJFasoCPA So how would you use it as a final expense policy? Since those carriers you mention never come up on the final expense circles? Is usually Foresters, MoO, Transamerica, CFG, Liberty Bankers, Americo, ect....
I wonder why not?
Why is there so much negative hype around whole life insurance? The likes of Dave Ramsey dismiss it as a complete waste of $. I'm looking into it a bit more seriously now, the numbers don't lie.
There was a time when I agreed with the financial entertainers and Wall Street.
That was until I got punched in the gut in with the latest financial crisis and saw the devastation it had on my tax clients. That forced me to open my eyes to alternatives to Wall Street and to stop taking my financial planner’s advice as gospel. I started my own research and making my own decisions.
Which is what I recommend that you do. Read Becoming Your Own Banker, talk with people that have been practicing IBC for years.
Decide for yourself if IBC is going to help you achieve your goals in less time with less risk.
If you would like to hope on a 15 min phone call and see if this is for you, you can do that here calendly.com/anthonyfaso/15-min-phone-call
Whatever you do, I wish you well!
PS. You can also check out our podcast infinitewealthconsultants.com/podcast
Yes it is truly unfortunate, but knowledge is power and I’m glad we learned this process. My sister and I have a financial strategy company with the focus to help with wealth building. If you are still looking into it, we would love to help!
Text: 410.988.4614 and we will set up a call to have a plan that works best for you
Numbers do lie in the hands of a liar. Ramsey is right.
@@AnthonyJFasoCPA people selling this scam are the only ones making money. The people buying end are too inept to see that they are the only ones putting money into the pot. There is no investment growth. No matter howbyou spin it, the person buying the policy is the only person spending money.
@Isabelle Choi Whole life is poor invesmtent because its not an investment. Whole life is a savings tool. Which you can borrow against to buy investements
If I'm gonna borrow money from my policy why not from my Solo Roth 401K and pay the interest to myself?
Let me guess; after reading the book , you became insurance agent also?
You can borrow from your 401k to become your one banker, however a whole life policy is the best product to become your own banker. I will give you the top 3 reasons why a 401k is not the ideal product to “bank” with. 1. 401k have limits on contributions. The IRS tells you how much you can put in each year and you may have to increase your payroll (aka pay more payroll taxes) in order to max fund it. 2. You are limited to how much you can borrow. Most 401k’s allow for a max loan of 50% of your balance or $50,000 which ever is LOWER. Why limit yourself? 3. Break the compound interest curve when you use a 401k loan. Your 401k balance stops earning interest when you have a loan against it, a properly structured IBC policy will NOT.
@@AnthonyJFasoCPA good points.
I live in the San Francisco Bay.
My 401k is basically useless for use like this. $50k is less than most folks pay in RENT here in a year, much less actionable for investments. If the solo 401k didn't have contribution limits and more importantly, loan caps, you'd be somewhat correct.
I had this same argument with a guy in Missouri, and my examples were a decimal point to the right of his. He was a house flipper, but he was buying properties with 401k loans where $20k or less was enough to get the ball rolling.
Here (and New York, and S. Florida, etc), move the decimal point over.
Trust me. I struggled with this argument of paying interest to yourself vs. paying it to a mutual company, but the dividend payment keeps compounding, unlike the 401k money which STOPS growing when the money is out on loan (to yourself).
I'd love for someone that understands a better way to utilize any QRP program out there to do IBC equal to or better than using Life Insurance, to include the tax advantages. If there is a ROTH "hack", I'd love to know it. But it's gotta allow a minimum loan play of $250k at a schwack, or it's only gonna be good for Des Moines and Graybull, WY market level players.
I was turned on to the idea by a few high 6 to 7 figure earners here in Silicon Valley with 8 figure net-worth (far from my level), so I paid attention and started to study up. I am shocked that I was in my 40s before I'd even heard of the concept.
Not an argumentative post, Kwik Rehabbers...I'm genuinely soliciting any info on other ways to skin the cat. I'm funding some folks that are rehabbing/flipping in the greater Sacramento market this year, and I am all ears on how you can better flow the funds in an optimized way.
Got a Solo 401 K Roth; a lot more than 5k baby. and Oxford policies too.
A 401k will be taxed versus insurance that has tax free benefits. The best part is you do not have to pay it back and you have more control over your money regardless of your age. The other main part is that if you remove money from your 401k you lose out on the compounding interest effect whereas insurance it’s as if you never touched it which helps your money grow faster. And another point is the guarantee vs complete exposure to the market up and downturns
Is this still true today?
Yes. This principles are timeless. The product of whole life has been around for over 200 yrs
The other item that people don't know is banks own billions of dollars in whole life insurance policies. We all know banks know how to make money so why would they invest a penny in whole life if they have all kinds of smart stock brokers working at their firms selling stocks to clients?
Great point Mike! Banks understand money very well. That is why Well Fargo as $22 billion in cash value life insurance which is more than all their buildings and equipment combined. We suggest you do what banks do NOT what banks say to do
Banks buy insurance as a hedge. They know that people like you will buy unnecessary policies that fuel their income. Banks get loans from the federal reserve when they have great credit ratings. When they don't they resort to borrowing from other financiers with more aggressive interest rates. Don't be fooled by these concepts. You may want to study real banking and investment concepts. In this program you are the only person putting up money. When Banks buy insurance they want things to go well some their are limited claims on policies. When that happens the premiums turn into pure profit.
Around the 3:00 mark, that explains why he is spending so careless.
Just because these people borrowed money from there policies to fund great business ideas, still doesn’t make the product a great product… They all still took a major loss by having there money in their policy, when they could have had it in a better/real investment vehicle…
Just because these people borrowed money from there policies to fund great business ideas, still doesn’t make the product a great product… They all still took a major loss by having there money in their policy, when they could have had it in a better/real investment vehicle…
Thanks for the comment. That is a common misunderstanding. IBC is no an either/or. Put your money in life insurance or a “better/real investment vehicle.” IBC is an AND. Put your money in life insurance AND a “better/real investment vehicle”
As Nelson Nash wrote in his book Becoming Your Own Banker, you finance everything you buy. You either finance and pay interest or you pay cash and give up interest. Here is a video comparing buying cash for an investment vs IBC czcams.com/video/c0RJJTYjP4c/video.html
One of my favorites is the “Buy term invest the difference” myth. We did the math on that too. czcams.com/video/sNq8fwHTsm0/video.html
I am the first to admit that IBC is over sold as a magic bullet, but it over the long term it works.
Wish you the best
Not needed in today's finance world. M1 Finance makes this obsolete. Invest your money in the market, get access to 35% of it immediately at 2% interest. Show the returns and interest rates on the insurance policies.... oh... no one ever does that because you'd see it's a negative interest carry. Sure the market has volatility, but long term it's going to rise and you can be as conservative as you want and still beat return rates on whole life policies.
Why cannot you do both? IBC is not “put your money is life insurance OR the market.” You can do both. Anyone that states otherwise does not understand Infinite Banking. We did the math. Check out this video of Buy Term Invest the Difference VS Buy Whole Life and Invest the Cash Value czcams.com/video/wu83k1I99uw/video.html
Because you can do both, its not about the rate of return inside the policy. That is why we don’t have videos about the rate of return on CZcams. We do on our online course. It sidetracks the message then people start comparing polices to the market. They are two very different asset classes. But since you asked, the polices we design have a rate of return between 3.5%-4%. Most people stop here and think, they can do better else were. But we need to look at the bottom line. Since that is after taxes, that is the equivalent of earning +6% in a taxable account. If we add back fees paid for term insurance and to a typical financial advisor. The rate is even higher.
In today’s finance world, (inflation, pending recession & rising taxes) Infinite Banking is needed more than ever.
Thanks for the comment. Wish you the best with your finances!
@@AnthonyJFasoCPA Thanks for the reply. Best of luck to you.
Great video! The nay sayers are like birds with clipped wings telling eagles why it's impossible to fly.
Thanks for the kind words. And they made me smile. You can find more content on our new channel czcams.com/users/InfiniteWealthConsultants
@@AnthonyJFasoCPA Hi Anthony, is there a way to get a consultation with you or another recovering CPA who is an IBC Practicioner?
@@mustseevideos7777 I think I am the only Recovering CPA that is also an IBC Practiconer. You can schedule a 15-30 min call with me to discuss your goals and see if we are a good fit. You can schedule that here calendly.com/anthonyfaso/15-min-phone-call Looking forward to our chat.
Simple question: What happens to the "'cash value" when the person dies?
Great question! There is a lot of misinformation on that so I created a 5 min video to fully explain the numbers. You can check it out here czcams.com/video/v6W9IhlCA9w/video.html Let me know if you have any other questions. Wish you the best
@@AnthonyJFasoCPA You can't just give a simple answer? Who gets the "cash value?"
@@astroman30 Your beneficiaries get the death benefit. Some mistakenly say that the insurance company “steals” the cash value. Here are the facts:
The death benefit in whole life grows every year because of dividends and paid-up additions. The growth of the death benefit is typically higher than the growth of the cash value. Thus, the death benefit that is paid out is higher than the cash value at that time plus the original death benefit.
In the 5 min video, I walk you through an actual illustration so you can see the numbers. Hope that helps.
@@AnthonyJFasoCPA Yet, you still won't answer a direct question. You're a CPA, do you not answer questions that your clients ask? This is making us question your credibility.
@@astroman30 are you his client?
This is a total SCAM. I've got two illustrations for 10K funding and almost funded it. The cost if a 30 year term for my age is 55$/mo or 187$ for whole life. IBC cost much more. If you have 10K to invest a year, go buy a value stock for 8K a year. Why would you let the take your money for a small dividend, charge you to loan your own money and pay 2-3 times more for the life insurance premiums??
Thanks for the comment. I know there are others that feel the same way. I do have a few points:
1. If you do the math on Buying Term and Investing the Difference vs buying the same assets with a policy loan after 30 years you will have 50% MORE using Infinite Banking.
2. We are posting a podcast & a detailed video where we walk through the numbers and explain why we have 50% more.
3. “Paying interest on your own money” is a common incorrect statement. You are not using your money. You are using the insurance companies’ money. They use your policy as collateral. Thus your policy is continuing to grow even though you are using it. You never broke the compound interest curve.
4. I bet your agent was not certified in Infinite Banking and may not know how to design an Infinite Banking policy. You can find a list of certified agents at infinitebanking.org/finder/. FYI you will find me there.
5. I encourage you to do more research and only work with a certified agent.
Whatever you do I wish you well!
PS. All new content is at the Infinite Wealth Consultants channel and check out the Infinite Wealth Podcast
@@AnthonyJFasoCPA I believe that 4% (non guaranteed) won't get you higher than a value stock which pays 3%-4% dividend+ a covered call premium (even with the compound interest). Any way the dividend pad by IBC is less that the loan's interest = negative cash flow.
And yes, if I'm overfunding the policy with 7K/year on the top of my premiums cost, it is a loan against my money.
I will be presenting a video showing exactly what you have said. You are correct.
Because I won't need to say "Welcome to Walmart" for 5 years when a bear market hits during my retirement age, and I can guarantee that my heirs will never need to eat government cheese like I did as a child.
@@abark you do know that when the market crashes insurance companies take a Supreme hit as well right? You better hope there isn't a crash because there would be no money left for the insurance companies to pay out.
3:10 Biden comment makes me skeptical
Skepticism is healthy.
Seems deceptive that you are using your credentials as a CPA to try to sell legitimacy about IBC (and then you go on to sell these insurance policies to customers??) This video is an ad for your insurance business... do you still even do accounting professionally? People selling infinite banking are so slimy.
Cannot stand slimy people either which is why I created this video. Walt Disney and our current president have used the concept. Infinite Banking is not for everyone, but it is not a scam. Don't think you and I are a good fit, but you can find more information and a certified IBC agent at infinitebanking.org. Wish you well your research!
These IBC schemes are ridiculous and predatory. Why introduce a middleman between you and your savings, especially when that middleman profits from fees and interest each time you try to access your own funds? Shame on you for not telling people to RUN from these things.
At first, I thought the same thing. I ran away from any life insurance agent, especially ones recommending whole life. And I was just as skeptical about IBC the first time I heard it. That is until I stopped listening to the noise and did my own research. I did the math. IBC works without a doubt. Here is one example of using a savings account vs IBC to store money to buy real estate.
If whole life was as terrible as you think, why would it still be around after 200 years? Why are the wealthy and the banks buying more and more of it each year?
Either they are stupid, or they know something you don’t.
In regard to fees. Name a financial product that does not have fees? If you pay 1% fee to a financial planner, after 20 years, the financial planner would have earned 4.5 times MORE then your IBC agent. That is not accounting for any fees inside the products they recommend. To me that is a shame.
Do your own research. You may find out that IBC is not for you. Its not for everyone. But to say it’s a scam is inaccurate.
Nor did I include the commissons your financial planner would make from selling you term insurance.
Well the thing about those wealthy people you mentioned is I AM ONE OF THEM. So I have done quite fine without IBC over the years. I’m convinced IBC is about insurance peddlers profiting from high fees. That’s what this is really about at its core.
@@ContrarianExpatriate I felt the same way about IBC, until I did my own research. For the same premium, a typical life agent get will get paid 300% MORE than paid properly designed IBC policy.
The point of the video was not to say ALL wealthy people use IBC, it was to show that IBC is not a scam. Many people including entrepreneurs and politicians have and are using IBC.
That is awesome that you became wealthy! But if you had practiced IBC you would have had more wealth and paid less in taxes. I am sure you are skeptical. I was. Check out this video to see the math comparing buying an asset with cash versus buying the same asset using IBC. czcams.com/video/c0RJJTYjP4c/video.html I posted this in my last reply to your comment. Did you watch it?
FYI. Most IBC agents use IBC to finance liabilities like cars and vacations. We use it to finance assets like real estate and businesses. Here is how we use IBC: Infinite Banking in 12 Minutes czcams.com/video/710jHPmvWXc/video.html
Wish you the best and thanks for commenting. I am sure others feel the same way, this way I have a chance to address their concerns.
PS. Before someone comments that you should buy term and invest the difference, we did the math on that too czcams.com/video/sNq8fwHTsm0/video.html