Whole life insurance is a terrible place to invest your money.
And that’s because life insurance is an asset, not an investment.
With infinite banking, you’re housing your money there as opposed to housing it with a bank.…
One of my new clients woke up with $0 in her life insurance policy after 33 years of funding.
Worst part?
Her premium was about to increase 1,300%.
Yep, 1,300%!
I tell you this because if you don’t know any better, you can choose a life insurance policy that’s not optimal for your personal banking system.…
If you develop a serious medical condition, you can be banned from whole life insurance (or any life insurance contract!).
This is fairly well-known, but there is a way around it: Term insurance.
With term insurance, your ability to be insured is “locked in” — even if you develop cancer or another fatal disease decades later.…
Your savings can be taxed if you set your life insurance up incorrectly.
Simply put, when you deposit “too much” into a life insurance policy, you create a “Modified Endowment Contract” (MEC.)
So, what are the disadvantages of an MEC?…
If you’re not using your money to make money, someone else is.
While you think your money is safe in the bank, they’re loaning it out — at interest.
This is how they make their real money. But, what if you were able to cut them out…
And become your own bank?…
Banks are the biggest hypocrites.
They, and many financial gurus, like Dave Ramsey, convince you to amass a large fortune and then let it sit.
Yet banks do the complete opposite of what they tell you.…
Would you rather earn:
$100,000 a day for 30 days or…
Earn a penny that doubles every day for 30 days?
Trick question.
At the end of the 30 days, you would have earned $3 million at $100k per day. Not too shabby.…
Do you ever sit and burn $20 bills?
If you don’t, you may as well, because right now the banks are legally taking 34.5% of your take home earnings in pure interest.
This interest isn’t to pay down your mortgage, your car loan, or your student debt.…
How nice would an extra million dollars sound?
And imagine if you didn’t have to work harder, smarter, or even work at all to get it.
Well, this does exist!
But I don’t recommend you try doing it, because you’ll cop a whopping 20 year prison sentence.…
Have you ever wondered why there’s a maximum withdrawal limit at the bank?
They’ll often tout it as “stopping criminals from laundering money.” But the reality is this: They don’t have much money in the actual bank!…
