“There are only two sources of income – people at work and money at work.” If you have the ability to do so, you should strongly consider investing your money in cash flow opportunities that would eventually exceed your annual expenses. If you don’t have the knowledge or ability in that opportunity, don’t take it.
“You finance everything you buy. You either pay interest to someone else or you give up interest you could have earned elsewhere.” Wealth has got to reside somewhere. Is there a better place to reside than in an Infinite Banking Concept (IBC) policy? We don’t think so. You should own enough IBC policies that you could run all of your business through your “bank”.
“If you knew at passive income time (retirement) that you would be getting back everything that you paid into a system – tax free – would you object to putting more money in it?” We don’t think so either.
To get ready and maximize the cash value available as retirement income, you should be sure that you pay down your policy loans to avoid loan interest leaks. Remember that the most financially efficient way – to legally avoid paying income taxes – is to start by taking withdrawals from your IBC policy down to your cost basis (the total premiums you have paid into your policy) and then switch to policy loans.
As a rule of thumb, if you wish to obtain a supplement to your retirement for 20 years, let’s say from age 71 to age 90, the maximum annual income that you will receive is approximately 6% to 7% of the net cash value of your IBC policy at age 70.
As you can see, owning an IBC policy provides you with high early cash values to take maximum advantage of generating cash flow opportunities early in your life and peace of mind in the knowledge that you will have enough cash in your policy to supplement your retirement later in life. The equivalent of having your cake and eating it too.
If you would like to learn how you can grow a substantial amount of cash that you have access to at any time without penalties, is unrelated to the stock market, and will generate income that is not included in your tax return, visit our website at http://InfiniteBankingSimplified.com/ or feel free to email us your questions at ContactUs@InfiniteBankingSimplified.com or call us toll-free at 1-844-443-8422.
Isis B. Palicio, LUTCF, MBA
Pedro A. Palicio, MBA, Ph.D.
Infinite Banking Concepts® Authorized Practitioners
We are experts in designing high cash value dividend-paying whole life policies.