At Living Wealth, we are dedicated to helping our clients find sustainable means of growing their wealth before retirement. This means providing the proper training and educational resources to ensure they are on the right track.
With this in mind, we offer a pair of online training courses specifically designed to help people better understand the principles of Infinite Banking and how they can use the concept in their own lives.
Here’s a quick overview of each course:
This course focuses on teaching people how they can create and profit from the process of banking in ways that most people have not experienced. The tool you use to build your “banking” system is permanent life insurance. Surprisingly few people have discussed how you can use your life insurance just like the banks do, to create lasting wealth for you and your family. In this course, we investigate the philosophy and principles behind Infinite Banking, and provide many real-life examples to show how exactly it works. When you complete this course, you will have all of the knowledge you need to determine if Infinite Banking is the right choice for you.
If you already have an understanding of the principles associated with Infinite Banking, then you are ready for some more in-depth coursework. The Lifestyle Banking Master’s Course is for current clients, and goes into the practical elements of lifestyle banking. It covers such topics as, “Why is participating whole life insurance the perfect vehicle to use in your private family financing system?”, “How do I pay myself extra interest and what does it do to improve my policies,” “How to take advantage of your financial GPS,” “Why using your policy is better than paying cash,” and much more.
Each of these courses has been designed by our team of financial experts to ensure you are getting the most accurate, helpful information possible. For more information about these courses, contact us today at Living Wealth, and we will be happy to answer any questions you have.Read More
The University of Michigan and its football coach, Jim Harbaugh, recently agreed to an updated contract that will increase payments from the school, as well as loan Harbaugh $4 million in 2016 and $2 million for the following five years to pay life insurance premiums. According to information from a Freedom of Information Act request, the first $2 million loan payout was made on June 3, and each additional payout will be made each December.
According to reports, Harbaugh does not need to repay the loan until he dies, as long as that insurance policy remains active. Upon his death, the university can recoup the investment it made, and the rest of the insurance payout leftover after the loan is settled will go to Harbaugh’s beneficiaries. If the policy is stopped, Michigan will still be able to get its money back from the insurer.
It is a tremendous savings vehicle for Harbaugh, to be sure. As a result of this deal, if Harbaugh dies while Michigan is paying for the policy, his heirs will get at least 150 percent of the premium that has been paid. This clause also protects Michigan — Harbaugh is allowed to borrow against the policy while alive, but must keep at least 150 percent of the value of the premium untouched, ensuring the school will be able to get back its investment if needed.
There are other contingencies in place as well. If, for example, Harbaugh is fired from his position or decides to leave the school, the university will no longer provide the loans for paying these premiums. If the policy is canceled afterward for any reason, Harbaugh must pay back the money loaned to him by Michigan.
This arrangement between Harbaugh and the University of Michigan is similar to the Infinite Banking principle we use as a vehicle to accumulate wealth at Living Wealth.
It allows Harbaugh to avoid traditional banks, getting access to money that can then grow significantly larger. While he does have to pay back the loan eventually, by the time he pays it off the money he has will dwarf the amount he needs to return to Michigan.
The University of Michigan, from an asset accumulation (endowment) perspective, is one of the top ten universities in the United States. Seems like smart people making smart business decisions.
For more information about Infinite Banking and our services at Living Wealth, contact us today.
Nate Scott, Client Development Coach
Nate Scott joined Living Wealth, Inc. with a desire to help families and small businesses become financially free. It was there, under the wise leadership of Ray Poteet, that he learned the power of “Becoming Your Own Banker” through Private Family Financing (PFF) and has made it his mission to tell others so that they can feel the same sense of freedom and control that he enjoys today.
Nate loves to teach people the benefits of becoming their own banker and to coach them on how to successfully implement the system in their constantly changing lives. He longs for everyone to hear the truth about how money really works and to understand the power and freedom that Private Family Financing can bring to their families.Read More
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