Jason and Kyle discuss how long you should pay into your policy. Top discussion points: -Policies get more efficient after every year, so paying in as long as you can is extremely beneficial. -If you plan to have income every year you need a place to put that. -Every situation will be different based on your goals.
Jason and Kyle discuss how IBC polices are beneficial for times of sporadic cashflow. Top points discussed: -IBC policies are flexible to where you can pay a fraction of the total premium in tight years. -IBC policies provide peace of mind during uncertain times. -There is no replacement for having access to capital. -Getting started is the most important thing!
Jason and Kyle discuss how to use your policy in today’s environment. Top points discussed: -Should you always use policy loans? -When might it make sense to use third party lenders? -This is becoming your own banker, so you make the rules.
Jason and Kyle discuss common v. uncommon advice. Top points discussed -Short term vs. long term financing -Cut up your credit cards? -Use debt towards your advantage -Pay cash for everything? -Lock my money up in stocks and qualified plans? -Is business too risky? -Blindly save money?
Jason and Kyle discuss what you need to do to be successful in your IBC journey. -Read Becoming Your Own Banker and Building Your Warehouse of Wealth -Watch Nelson's Seminar on DVD -Watch the IBC Foundations videos -Check out some of the financial noise -Pay your full premium -Start where you are comfortable -Adapt the system to suit your needs
Jason and Kyle discuss their thoughts on the stock market. Top points discussed: -The stock market is not the end all be all -You need to place your capital in assets that align with your goals -IBC allows you to "live now" while investing in stocks for the long haul is hoping for "one day someday" -Whole life insurance is not the end all be all either