Poor No More! Infinite Banking Making the US, Canada and World Wealthy Again
The world seems to be on fire, everywhere we look conventional banks are failing, interest rates continue to rise and the price of gas is skyrocketing. Scared? Don’t be, today, we embark on an enlightening journey to explore the Infinite Banking Concept (IBC). While this groundbreaking financial strategy that has changed millions of lives is heavily based in the late R. Nelson’s Nash’s, “Becoming Your Own Banker” work. Infinite Banking as Nelson Taught is predominantly practiced in North America – the US and Canada – we shall delve into how individuals worldwide can harness its principles. The pivotal key lies in systematic, persistent saving, ensuring that at least 10% of one's earnings are devoted to paying themselves first. At its core, IBC starts with a simple decision to regain control of our finances.
Now, if you reside in the US or Canada, you might believe that without the specially designed whole life policy, you cannot practice Infinite Banking. However, let me assure you that this is not the case. The essence of IBC lies in understanding the banking process and how you can replicate it to take back control of your money, even without access to the specific financial products available in North America.
In the United States and Canada, the cash-rich whole life policy serves as a powerful financial instrument, offering an array of unique living and legacy benefits. Within this policy, you will discover a world of advantages, ensuring not only consistent growth but uninterrupted compounding interest as well. The benefits extend further, granting you liquidity, absolute control over your money, and the freedom to utilize your funds as needed. Additionally, you'll relish the perks of tax-free growth and distribution, along with protection from various liabilities that may arise.
Let's not forget the crowning jewel of this financial sundae – a guaranteed tax-free death benefit, a heartfelt gift you can leave behind for your loved ones. Truly, the cash-rich whole life policy embodies a comprehensive and robust solution for shaping your financial future.
Now, for those who reside outside the fortunate regions of the US and Canada, fear not! The Infinite Banking Concept remains accessible to all who are willing to embrace a fresh approach and exercise the strength of discipline over the weight of regret.
The process begins with finding a place to store your money that provides liquidity and accessibility. While the whole life policy may offer such benefits in North America, you can opt for alternatives like a checking account, money market account, or bonds that provide similar liquidity.
Now, let's delve into the practical steps of implementing the Infinite Banking Concept without the availability of the whole life policy. Start by setting up a segregated checking account dedicated solely to systematic savings for IBC. This account will act as your financial tool to build wealth. Start by paying yourself first. Next, begin to tackle your debts systematically. Regardless of your location, most people have credit card debts, car loans, loans, and mortgages. Addressing these debts is a crucial step in the IBC process. By saving consistently into your segregated account, you accumulate funds to pay off these debts gradually.
For instance, consider you have three credit cards with varying amounts and interest rates. Start by paying off the one with the highest interest rate first while maintaining minimum payments on the others. As you recapture the interest payments you were making to external institutions, you direct those funds back into your segregated account, effectively paying yourself the interest.
Continue this process, clearing off one debt after another, and watch how you recapture more and more money for yourself. Once your debts are settled, you'll be saving more money than ever before, and you'll have gained valuable financial discipline along the way.
As your savings grow, seek additional investment opportunities, just as a seasoned banker would. Whether it's a down payment on a rental property or another income-generating venture, continue to add to your segregated account and let your money work for you.
Keep in mind, the Infinite Banking Concept empowers you to seize control of your financial destiny and make your money work in your favor. Though the process may take different forms outside North America, the underlying principles remain unwavering. Embrace the power of discipline, for it shall lead you to the ultimate reward of financial freedom. Remember, you possess the ability to shape your financial future, and the Infinite Banking Concept stands as your guiding light on this transformative journey.
For those reading this within the US or Canada, you're likely eager to dive into the world of cash-rich whole life insurance, securing your family's legacy with the cherished cherry on top – the guaranteed death benefit. Discover how we can assist you in gaining control of your finances and embarking on the path of Infinite Banking. Click TMM application to learn more and embark on your journey to financial empowerment. Happy banking!