Pedro A. Palicio We read “The Richest Man in Babylon” many years ago; long before we were introduced to the Infinite Banking Concept in 2008. The author, George Clason, is known for writing a series of informational pamphlets about being thrifty and how to achieve financial success.
The Infinite Banking Concept (IBC) is a major paradigm shift for most people. You should start by reading several times Nelson Nash’s “Becoming Your Own Banker”
We call disposable income to the amount of your annual family income that you have left after you pay all your bills. Obviously, if you have nothing left, you need to increase your family income and/or reduce your expenses. You have to do this if you wish to be financially successful.
IBC policy is that it will provide you an extremely secured and stable source of cash to supplement your
A lot of IBC clients ask us if they should take a policy loan or a withdrawal when they need cash from their policies.
Successful implementation of IBC requires patience, discipline and long-range planning as IBC is not a “get-rich-quick” scheme and it is not for the person who is always looking for instant gratification. By all means, spouse an abundance mindset and avoid a scarcity mindset.
Read “Becoming Your Own Banker” several times with an open mind as well as “The Case For IBC” and “Building Your Warehouse of Wealth”, authored or co-authored by Nelson Nash.
“We Develop Solutions That Create Value” has been the tag line to our emails since 2008. That was the year when we decided to abandon traditional financial planning advice and concentrate uniquely in creating value by implementing the Infinite Banking Concept (IBC).
This is not about “finding a tax loophole.” Rather, we are pointing out one option that people with large cashflows — such as business owners who annually make a large payment to the IRS
Control of your money: When you contribute to a qualified plan, the government, the retirement plan administrator and/or the employer, determines what you can invest in, how much you can invest depending on your age and/or income, when you can withdraw it, and what taxes and fees you’ll pay for withdrawing earlier. Of course, the government can and does change the rules!
When you contribute to an IBC policy, you and only you, are in control of your money. You determine how much to contribute to your policy, limited only by its design, and you determine when and how much you can withdraw or borrow from your policy. The insurance company that issues your IBC policy cannot change these rules!
Most of the skepticism about life insurance is pointed towards the cash accumulation features of permanent life insurance policies.
