E66: Fundamentals of How to Fund a Banking Policy
We discuss the basics of how to build and fund a banking policy from the start. Plus, we’ll share real-world examples of how other people have funded their policies to help you understand what it could look like for you.
How to Fund a Banking Policy Topics Covered:
- Starting with the simple questions to ask yourself
- Transitioning the money you’re already setting aside
- Answering the common question of, “Do I need a lot of money to start?”
- Using Tax Refunds
- Using a home equity line of credit (HELOC) when you’re home has a high level of equity
- 401(K) based loans
- Using lump sums and spreading things out
- Limitations and Modified Endowment Contracts in a nutshell
- The phases of building an IBC system
You’ve got to get started somewhere. Just like if you wanted to buy property. So, what’s the most straightforward way you can start growing your wealth today?Some people think that infinite banking and building these policies is going to be a rigid experience, when it’s really not. There is a lot of flexibility.
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