What is the Willie Sutton Rule?
In episode 127 of our Dollars and Nonsense Podcast, show hosts Holly Reed and Nate Scott discussed the Willie Sutton Rule. Here’s more about the concept and how it applies to the investment world. The Willie Sutton Rule Defined The Willie Sutton Rule or Sutton’s Law states that you should choose the most apparent option or route when diagnosing, doing, or trying to achieve...Read More
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What Dave Ramsey gets wrong about infinite banking
Radio host Dave Ramsey Ramsey is a critic of the infinite banking concept, going as far as to call it a “scam” on an episode of his show broadcast at the end of 2020. However, there are a few things that Ramsey misunderstands about the process. This article outlines three misconceptions that Ramsey, and other financial gurus, get wrong about infinite banking. Infinite banking is not the...Read More
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Infinite Banking
What is infinite banking? Infinite banking is a financial strategy, sometimes called IBC, or the infinite banking concept, that can allow you to take control of both your savings and your debt needs, helping you become, in essence, your own bank. Did you know that the average American spends 25% to 35% of their income on interest through things like real estate, new cars, education (student...Read More
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The Difference Between Broke and Poor
Broke and poor; these words are often used interchangeably to describe someone who doesn’t have a lot of money. However, when you break it down, they really are two completely different conditions. While being rich isn’t everything, income has a large effect on happiness. It’s no wonder why; people who have no money can’t afford the things that make their love life,...Read More
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The Most Inspiring Rich Dad Poor Dad Quotes
Ready for the 50 best Rich Dad Poor Dad quotes? We love the Robert Kiyosaki book and have collected some of our favorite quotables here for your enjoyment. If you have never read the book, you can get it here. If you have, see the rest of this post to refresh your memory on some of the best lines in the book. As you may know, Rich Dad Poor Dad is a New York Times bestselling finance book...Read More
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Is infinite banking a scam? Here is the truth
Infinite banking presents an alternative method for those wishing to build wealth. Instead of borrowing from the bank, infinite banking allows you to borrow from yourself on your own terms. However, because infinite banking isn’t widely understood, you might be wondering, “Is infinite banking a scam?” According to estimates, the mean average household debt is now $145,000 in...Read More
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What is BOLI?
BOLI or Bank Owned Life Insurance continues to be a popular investment option for banks. As of 2019, in the third quarter, about 3800 banks own $190 Billion in BOLI policies. While BOLI may cover a small part of a bank’s assets, the resulting financial failure from it can be impactful. This short guide will give you everything you need to know about investing in BOLI plans. What is...Read More
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Is 401k an Asset?
As of 2018, 58 million workers in America were actively participating in 401k planning. For many, opening and contributing to a 401k becomes an option through work and while it is often encouraged, it is not always explained. If you have a 401k or are considering opening a 401k, it’s important that you know a little bit about how it will work and what it will mean for your personal...Read More
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What Is a 770 Account?: The Straightforward Facts You Need to Know
You may not have heard a lot about a 770 account, or you may know it by one of its other names. The 770 account is one of the latest and most talked about topics in the world of finance and investments. That’s because the average American tries to save about 10% of what they make or earn every year and sometimes has a hard time getting to 10%. Most people put their savings into the same type...Read More
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What Are Paid Up Additions (PUA) in Whole Life Insurance?: A Complete Guide
If you would like to increase the value and practicality of your life insurance plan, adding a paid up additions rider also known as PUA could be a great strategy for you. This insurance add-on is a smart move for anyone seeking financial freedom. But how do you know if a paid up additions (or PUA) rider is right for your needs? Read on to learn everything you need to know about paid up...Read More
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