Borrowing from life insurance policies can sound daunting to newcomers. There are many things to consider, from policy options to limitations with borrowing. This article answers common questions about infinite banking and outlines everything you need to know about borrowing from life insurance policies. What is life insurance? Most people arriving on this website already
Once most debt has been retired, and basic lifestyle needs are met, most people focus on aspirational financial goals, such as buying a vacation home or a better car. Some don’t immediately think of their children’s financial future. However, creating wealth to be shared and passed down to the next generation and their children can
Infinite banking can be a complex subject for a beginner, but understanding the strategy and eventually learning to master the infinite banking concept can help put people on the path toward financial freedom. Here are the best infinite banking books to help you build wealth with IBC. Becoming Your Own Banker Becoming Your Own Banker
Two of the most prominent schools of thought in macroeconomy are Austrian and Keynesian economics. These concepts provide insight into the economy and personal investments. However, economic decisions and investment outlook vary depending on which school is followed. We discussed the topic in episode 38 of our infinite banking podcast. There is more detail about
If you are new to infinite banking, you have likely heard that it allows you to become your own banker by using and borrowing money from your policies. But some may wonder how this works. And what kind of policy is needed to do this. This article will answer these questions and further explain the
Much of the success of the infinite banking concept can be attributed to the release of Nelson Nash’s book, Becoming Your Own Banker, first published in 2000 (see a chapter by chapter summary of the book here.) Nash popularized and further defined the wealth-building approach that he had been practicing for 20 years and that had
You may have heard the phrase “money can’t buy happiness”. It is a common mantra to remind us that money may not be the answer to all your troubles, but is this always the case? Does money really buy happiness? Research by Northwestern Mutual suggests that money can be a source of happiness, but it
As you advance your knowledge as you use the infinite banking concept, you will likely encounter the term Modified Endowment Contract (MEC). Although it is likely not to play a massive role in becoming your own banker, it is essential to understand what it is and its potential impact. This article will help explain this
The book Becoming Your Own Banker was written by Nelson Nash and published on Jan. 1, 2009. It was revised through six editions in the ensuing years. (See it on Amazon.) The book has since become the ultimate guide to anyone that is interested in implementing the infinite banking concept. It is a must-read. Still,
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
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