025: What is the “Infinite Banking Concept” (and is this really legit)?

Earlier this year, I started educating myself about something called the Infinite Banking Concept.

There’s a lot that goes into it (not the type of thing I can explain in one paragraph), but in essence, the idea is to rely less on banks and third-party lenders for meeting your financing needs and instead, build your own banking system inside of a whole life insurance policy, where you’ll able to lend the money to yourself, and then pay the money back (with interest) to your policy.

When you borrow money this way and actually pay it back (the same way if you were borrowing it from a conventional lender), you can ultimately keep all of the money you would've otherwise spent on interest by funneling it into your own banking system.

While it sounds like a fairly straightforward concept, there are a lot of considerations that go into it (because in my opinion, it doesn’t necessarily make sense for every person, depending on their financial situation).

In this interview, I talk with M.C. Laubscher – who is an expert in the Infinite Banking Concept. My goal with this conversation was to get more clarity on the pros and cons of this strategy and to figure out what I wasn’t being told by other “financial advisors” who were just trying to sell me a life insurance policy.

Disclaimer: I am not a financial advisor, so please, do not interpret this blog post or this podcast episode as financial advice. You should definitely talk with your own financial advisor to help you decide whether the Infinite Banking Concept is the right fit for your situation.

Links and Resources Mentioned:

Thanks for Listening!

Share your thoughts:

  • Leave a note in the comments section below.
  • Share this episode on Twitter, Facebook or LinkedIn (social sharing buttons below!)

Help out the show:

Thanks again for joining me this week. Until next time!

Right click here and “Save As” to download this episode to your computer.

The post 025: What is the “Infinite Banking Concept” (and is this really legit)? appeared first on REtipster.



from RSSMix.com Mix ID 8230708 https://ift.tt/2xCWZNL
via IFTTT

Comments

Post a Comment

Popular posts from this blog

20 Mobile Apps Every Real Estate Investor Needs on Their Phone

Image
You’ve probably heard trivia like this before: “Your smartphone has more processing power than NASA did when it put men on the moon in 1969.” That's a pretty incredible fact – isn't it? Even more fascinating, is that mobile phones are starting to surpass many laptops on performance benchmarking tests . All that processing power, combined with humanity’s combined knowledge available instantly with internet access, is sitting right in your pocket day in and day out. And you probably use it for watching cat videos. (Don't worry: We all do.) But what else can your smartphone do for you as a real estate investor? How can it help give you an unfair advantage over all the other investors out there failing to use the gadget and its abundance of apps to advance your businesses and bottom line? Here are twenty amazing apps that all real estate investors should consider — including several that aren’t real estate “apps” per se, but will help make you become a more nimble inv...
Read more

041: The Biggest Problem With Your Website (And How to Fix It) – Interview w/ Trevor Mauch of Carrot

In this episode of the REtipster Podcast, we’re talking with Trevor Mauch ,  CEO of  Carrot . If you’re a real estate professional of any kind, there’s a good chance you’ve come into contact with Trevor’s company at some point, because they specialize in helping real estate investors and agents generate leads online with some extremely easy-to-use websites . Whether you’re trying to find new properties to buy, sell the properties you own, sell properties on behalf of someone else or just build a stronger online presence (without hiring your own web developer), there’s a good chance Trevor’s company can help you with that. Carrot websites have pulled in millions and millions of leads online over the past few years… and they’ve played a pivotal role in helping people close thousands of deals with their software. I personally know a TON of people who are using this company for one or more of their websites and I’ve heard a lot of good reports. I’ve even used it myself and I ...
Read more

Are You Using The Best Real Estate Data?

Image
If you want to succeed as a real estate investor, you need to know how to find motivated sellers. That's not just my opinion, that's a fact . When I first started pursuing my real estate investing career, I wasted a TON of time trying to find these people the wrong way (at one point, I was almost convinced it was impossible). There finally came a point when I was just about ready to throw in the towel – and that's when I discovered the power of direct mail marketing . But it wasn't just ANY direct mail marketing that did the trick. There were some very specific steps that simply  had to be followed  – and if I didn't put the time and effort into doing it right, I'd end up throwing a lot of money right out the window. Bonus:  Get a FREE copy of the INVESTOR HACKS e-book when you subscribe! Success requires decision and action The market moves fast. Stay ahead with the latest tips in low-ris...
Read more