Think about this for a moment - if you could recover all the interest you are currently paying (or will pay) to a lending institution, how would that improve your wealth generating potential? This includes credit cards, car loans, student loans, business loans, and even mortgages. The average American pays out $0.34 of every earned dollar as an interest expense. On top of that, the average American is paying $0.30 of every earned dollar in some form of tax. Imagine having that Interest come back to you in a tax-favored account you control. What opportunities could you take advantage of in your life with even half of that cash back?
The basic idea behind The Infinite Banking Concept®, or IBC, is for individuals to take more control over everything they buy:
1. We either borrow money from someone else to make major purchases
2. Or we save up the money over time to buy the items and lose the potential earnings from those dollars had we invested them.
How is this possible? By having your dollars do more than one job. Right now you spend $1 and it does one thing for you. It buys gas or it buys food. Maybe it pays a bill. Perhaps it goes toward a vacation or a large purchase. Once it leaves your hands (or electronic account) it’s gone. It can do nothing else for you.
But what if there was a strategy that teaches people how they can have their $1 do more than one job simply by moving it through an asset they control? And what if this strategy was accessible to everyone?
This is the essence of The Infinite Banking Concept®, originally championed by Nelson Nash in his book, Becoming Your Own Banker. Though banking has been around for ages and life insurance has been around for 250+ years, Nash saw how the two could be used together by anyone, not just big business or the already wealthy. In his book he demonstrates that by creating your own private “banking system” through a specially designed life insurance contract and running your dollars through this system, you can significantly improve your financial situation. At its core, the concept is as simple as that.
Creating your IBC system can be done in a variety of ways without changing your cash flow. At first, it’s typical to start a small system and build over time. This is part of the process. It takes time to grow a system to handle everything we want to do. Thinking long term is critical. Just keep in mind that you will be in some financial situation 10, 20 or even 30 years from now. To get there we must start somewhere. We must take those first baby steps before we can imagine running a marathon. This is where the Infinite Banking Concepts Authorized Practitioner can bring value to your life. We come alongside to help you solve your problem.
Once created, you have access to cash in your system from day one. This pool of money grows guaranteed and can be used to pay down debt, purchase assets, or take advantage of opportunities. Your savings, investing, and living dollars can now be redirected through your private “banking system” before moving to do other things for you. The payments that otherwise would have gone to a banking institution are paid back to your personal pool at the prevailing interest rate. The result? More money goes into your system and each dollar is performing multiple jobs.
Recapturing interest and reducing the tax burden is a great story. But it gets even better.
The specially designed life insurance contracts we utilize guarantee growth at a competitive rate, meaning you never lose principal and never lose previous gains. The money can be utilized tax free. You have full access to your funds whenever and for whatever you want and for whatever reason with no fees, penalty review boards, or additional collateral. The money you use can be paid back at your leisure with no set repayment schedule. And when the time comes, you can pass everything you’ve built up to those you love and care about completely tax free.
Sounds amazing, doesn’t it?
This is exactly what the wealthy do. This is how families pass on a system of wealth that enables the next generation to follow their dreams, start businesses, and take advantage of opportunities. Corporations and banking institutions use this strategy to create working pools of capital for their businesses. Bank of America is just one example. Walt Disney used this strategy to begin his dream of building a theme park for children.
The question is what do you want? Peace of mind? Financial security? A sound financial solution that does not rely on a fluctuating market? To have cash for emergencies and opportunities? To have something to pass on to the people you love?
Change the way you think about your finances and you can change your life.
Are you willing to learn more?
