Podcast

E55: Are Your Money Decisions Being Compromised by Emotions

We discuss the danger of letting your emotions dominate your decisions. We also share how you can learn to start with your head, not with your heart.

E54: How to Avoid the Fees of Opportunity Cost

In this episode, we discuss the impact opportunity cost has on your money. Plus, we’ll share how you can avoid missing out on the wealth caused by idle or misused dollars.

There’s an underpinning principle of the Infinite Banking concept we teach. It underscores a lot of the financial decisions that you’re going to make. The principle is this: You finance everything that you buy in one way or another.

You see, most people believe they’re financing something only if there is a loan process–purchasing a car, for example. Here’s what those people don’t realize: even if they pay cash for a car, you’re still financing it.

People often think of financing being something only done through a bank instead. However, the reality is we finance our utility bills, we finance groceries, and we finance the gasoline that goes in our car. We finance all the things in our life whether we realize it or not.

Join us as we explain in more depth and how to best implement this understanding.

Avoiding Opportunity Cost Fees Topics Discussed:

• Understanding how everything you purchase is financed
• The only two ways we purchase goods and services
• Where opportunity cost comes into the purchasing equation
• Using 529 programs and college tuition as an example
• How leveraging IBC works to beat opportunity costs
• How dollars lose strength over time how it impacts you

Episode Takeaways:

You can finance a purchase and it will cost you interest. You can pay cash for a purchase and loose out on potential interest earnings. In either case, you are financing your purchase.

Powered By the Tweet This Plugin

Tweet This

Either you’re going to borrow somebody else’s money and pay them interest, or you’re going to use your own money, spend it, and lose all the interest that your money could have earned you if you kept it.

Powered By the Tweet This Plugin

Tweet This

Episode Resources:

• Infinite Banking and Private Family Financing free beginners course

E53: What is the Best Investment You Can Make

In this episode, we will discuss the best investment you can make and how infinite banking can help you become a better investor. Tune in to this episode of the podcast and find out now.

E52: The Big Danger of Universal Life Insurance

In this episode, we discuss the dangerous pitfalls of trying to use Universal Life Insurance to act as a bank. Plus, we explain why Participating Whole Life Insurance as your IBC banking tool is far superior.

E51: Three Concealed Bank Myths Costing You Money

Find out about the three most common myths about banks costing you money. Changing the way you think about banking can put thousands of dollars in your pocket.

E50: The Three Best Rules to be Successful Financially

In this episode, we discuss what we believe are the three biggest rules you should follow to be successful financially.

E49: Is the Financial Bubble About to Burst

In this episode, we discuss what Ron Paul calls, “The biggest financial bubble in the history of mankind,” and how you can survive the next financial disaster. 

E48: When Can I Stop Paying Premiums

In this episode, we will discuss when it makes sense to stop paying premiums towards your whole life policy when you’re using it as a banking tool, We’ll also share why you’ll probably have to change your perspective on the word “premium” if you want to be successful at IBC in the first place.

We are asked all the time: “When can I stop paying premiums?” Where does that question even come from typically?

We’re raised with a scarcity mindset of holding on to as much of our money as we can. This then translates into a belief that if we are paying into premiums, then it is money leaving. We have this “paid off” mentality, and we lump our banking policies in there too, unfortunately.

The trouble comes in when people view their whole life insurance policy as just another insurance. If I make a $500 payment towards car insurance, home insurance, and different things, we all know I have less money the next day. I’m poorer now.

Premiums are Different

But IBC is actually a different type of premium payment. The money doesn’t vanish into someone else’s pocket.

With IBC you’re the banker. The reality is this: It’s not money leaving. Premiums paid into a whole life insurance policy under IBC is money being deposited into your private bank, and banks never want you to stop making deposits.

We need to change the way we see these premiums from adding into the payment side of the budget to the asset side of the budget. Then you get to see what happens when you pay the premiums.

Episode Resources:

Infinite Banking Concept explained

Episode Takeaways:

“If you stop making premium payments, then you are basically stopping the deposits into your personal bank.”

Powered By the Tweet This Plugin

Tweet This

“You really have to start thinking you are a bank owner. Your policy is your bank.”

Powered By the Tweet This Plugin

Tweet This

“If you think of premiums as a liability and not an asset you’re going to be very limited in how far you can take IBC and how much money you can make.”

Powered By the Tweet This Plugin

Tweet This

E47: 3 Mental Barriers Standing in the Way of Financial Freedom

In this episode, we discuss the mental barriers that prevent your financial success. And we’ll share the things that you need to do to create a strategic financial vision to achieve freedom.

E46: How to Decide if 401(k) Match is Best For You

The 401k match is probably the most common tool used by Americans today as they try to save for the future. But is it right for you? In this episode, we will discuss the many questions to ask yourself to decide if it is a good fit for you. Your home may need a new home…