Share on Facebook Facebook 𝕏 Share on X X Share on Linkedin Linkedin Share on Email Email Whole Life Policy Loans: How They Work One of the least known and best features of a whole life policy is its “living benefits”. These living benefits give you the ability to borrow against its cash value. As … Read more
I have decided to start a blog to help people understand the process of The Infinite Banking Concept (Infinite Banking).
You can become financially independent if you have sufficient personal wealth to live indefinitely without having to work actively for basic necessities.
A couple of years ago, a long-time client called and said he wanted to talk to us about his retirement. The problem was that he was sixty-four years old and had nothing saved for his retirement. Since we had known him for many years, we knew that during the prior ten years he had ridden … Read more
Anyone who has any type of banking policy has probably come across the term Modified Endowment Contract, or MEC. You may have noticed a portion of your whole life policy illustration or contract stipulating whether or not it is a MEC. You may have even seen numbers indicating the additional amount of Paid-Up Additions that … Read more
Traditional financial planning pays much more attention to accumulating assets for retirement than to the reposition and distribution of assets during retirement. It is not surprising since most financial advisors are compensated based on the amount of assets under management. Let us be clear; the reason for savings/investing is to generate future passive income when … Read more
As you are probably aware, traditional financial planning tells you of three sources from which you could generate passive income when you could no longer generate active income for yourself: 1) a pension or defined benefit plan, 2) social security and 3) a defined contribution plan (a 401(k), 403(b) or IRA). Since the late 1970s, Wall Street and … Read more
Although there are different ways to handle policy loans from your banking policies, the process described below provides you greater control and better tracking at tax preparation time from those loans that might have tax implications. You should follow these steps when taking out a policy loan from a banking policy: Contact us and let … Read more
If you make contributions to any type of qualified plans like a 401(k), a 403(b), or an IRA you should know the following facts: These programs are not tax-free but tax-deferred, which means that although you enjoy the immediate gratification of not paying taxes now, you will be most likely paying higher taxes on a … Read more
The money stored in your properly-structured whole life insurance contract is guaranteed to grow every year by an increasing amount; in other words, the increase in cash value between years 3 and 4 is larger than the increase between years 2 and 3. So your cash value cannot go down; it is always increasing and … Read more
