What is the best option for you to have success with your Infinite Banking policy? Will one option ruin your plan from the beginning? This is a common topic for someone new to the Infinite Banking Concept to spend hours researching. The first thing you should know is the only thing this refers to is whether or not a life insurance company recognizes the fact you have a loan outstanding.
First of all, don’t worry, there is likely an option for you to get a plan in force to begin practicing the Infinite Banking Concept. The most important piece for your plan to work is being the owner of the policy, not the insured. The 3 most relevant parties on a policy are the owner, beneficiary and insured.
This blog is going to focus on taxation. We will talk about how taxation affects retirement plans, your earned income, and life insurance. You should realize that where you put your money now will determine the amount of taxes you will pay in the future.
Your exposure to unrealized gains in the investment world can and most likely will have a great impact on your future financially! Understanding how this can affect you will allow you to protect yourself as you build your financial portfolio. A plan for preparation today will save you from potential hardship in the future.
Who makes sure your IBC journey is successful? It is YOU! Nelson Nash, the creator of the IBC, wrote the book Becoming YOUR Own Banker. The whole book is about YOU taking control of the banking function in YOUR life.
We know that implementing the Infinite Banking Concept can help every single person in the United States (and Canada). Even though this is true, not everyone should or can implement this immediately. Some will need to start with getting their financial house in order. Here is a guide for things you should do before funding a policy.