Personal Finance and Infinite Banking

Personal finance is an integral part of everyone's life and it is essential to understand the basics of managing money to secure a financially stable future. The Infinite Banking Concept™ is a unique approach to personal finance that helps individuals to build wealth, reduce debt and ensure financial independence.

The Infinite Banking Concept™ (IBC) as outlined in the bestselling book by R. Nelson Nash, Becoming Your Own Banker™, reveals the truth behind the most important business in the world – banking. It provides you with foundational, financial wisdom that will help you understand personal finance like never before.

Infinite Banking is based on the idea of creating your own personal banking system by utilizing the benefits of whole life insurance. By taking advantage of the cash value accumulation and loan options offered by these policies, individuals can put their money to work for them, rather than having it work for a traditional financial institution.

Here are some key benefits of Infinite Banking:

1. Financial protection: Whole life-insurance provides permanent protection for your beneficiaries while building cash-value and providing significant benefits while you are alive.

2. Building wealth: By using the infinite banking concept™, individuals can accumulate wealth in a tax-advantaged environment. The cash value of the whole life insurance policy grows on a tax-deferred basis and can be used for various financial goals, such as funding education, retirement, or even purchasing a second property.

3. Reducing debt: The infinite banking concept ™ allows individuals to pay off high-interest debt, such as credit cards and personal loans, by utilizing the low-interest loans provided by the whole life insurance policy. This can significantly reduce the amount of interest paid over time, freeing up money for other financial goals.

4. Financial independence: The infinite banking concept ™ empowers individuals to take control of their financial future by providing them with access to their own personal banking system. By being in charge of their finances, individuals can make informed financial decisions and reach their financial goals faster.

In conclusion, the Infinite Banking Concept ™ is a unique approach to personal finance that offers a range of benefits to individuals looking to protect your assets, build wealth, reduce debt and achieve financial independence. By understanding the principles of infinite banking and putting them into practice, individuals can secure their financial future and live life on their own terms.

Love and Money

Love and Money - Making Financial Decisions Together

You do it for love... Have you ever thought about your true motivations? Primarily we ultimately make all of our decisions based on love. It could be your love for an individual, your family, your business or your passion. This is why money is not a true motivator, love is the why we do things.

In this special issue, I will reveal:

• 3 tips for Improving Your Marriage
• How To Reduce Stress in Your Marriage
• Living the Good Life

3 tips for Improving Your Marriage

Tip #1. Hold a Monthly Financial Meeting
Many couples never talk openly about money, so when financial issues pop-up, it often leads to conflict. One of the best ways to overcome this is to sit down with your loved one on a regular basis, preferably monthly to discuss your financial matters.

Topics to discuss:
1. Spending
2. Saving
3. Budget
4. Major Expenditures

Financial literacy is of supreme importance, and all involved should be educating themselves on how their money is flowing. Once you determine where your money is going and for what, you will become more aware of how and why you make your purchases. Being aware of possible problems before they occur is also key.

The solution is to sit down with your partner monthly and go over your financial plan. Look closely at your spending patterns and discuss future expenditures. Determine if what you are spending your money on is really necessary. Is this expenditure a need or a want? 

Tip #2. Accept a Shared Responsibility
Often today, I hear of couples having separate checking accounts, but when you do this, are you really sharing in your responsibility? It is common for one spouse to play the primary role in managing finances, but both partners should be involved with financial decisions and at least be aware of how the money is being utilized. 

Again, I advocate financial literacy. When you understand what's going on with your money, you will know how to use it to your advantage.

Be aware that when one spouse makes all of the financial decisions, you are setting yourself up for conflict in the future.

Tip #3. Invest in Your Financial Knowledge
When you invest in your financial knowledge you will begin to think differently. Since we were kids we have been trained to work hard, go to school and get the best job possible. We are told that our academic education and the number of hours we trade for dollars will make us happy. If this worked, why are there so many divorces? And, why are so many people broke today?

Often debt is to blame for failed marriages, but the true culprit is a lack of financial education. We are taught very little in school about how money really works, because the goal of an academic education is to get a "job".

When you discover how a business works, you will have a different outlook on finances. Businesses earn a profit, not a paycheck. Jim Rohn once said, A job will earn you a paycheck, but a business will earn you a fortune.

Many books are available to help you increase your financial literacy. Here are some of my favorites:
http://www.legacyinsuranceagency.com/recommended-reading.html

 

How To Reduce Stress in Your Marriage

Reducing stress involves making decisions with confidence and together. By increasing your financial knowledge you will in turn increase your confidence when making financial decisions. When you plan your financial future, you will be prepared for whatever comes your way.

If you want to reduce stress and financial worry in your marriage, you need to have a plan. Your plan needs to be discussed on a regular basis (see Tips above). Your plan should include goals that you determined together. Once you determine your financial goals you can work together to achieve those goals.

While most financial plans today are put together by financial advisors from major financial institutions, they do not contain any guarantees. That is because these plans are based on paper assets where you as the investor take all of the risk. Even if you do the investing yourself, there is still a lot of luck and guesswork, with very little predictability.

A better alternative to traditional financial planning is to Become Your Own Banker. Why leave the results of your plan up to the investment bankers? Do you find it ironic that in 2008, we as taxpayers, bailed out the largest financial institutions in the world? And, these same financial institutions and banks still ask us to invest our money with them?

You can learn how to Become Your Own Banker by requesting a no-cost, no-obligation analysis:
http://legacyinsuranceagency.com/financial/financial-review-analysis.html

Living the Good Life

The idea of retirement typically involves leaving the workforce. However, if you do your research you will find that this is a government idea. An idea that involves dependency on others. Sadly today, less than 5% of Americans can retire when they expected to or live without government assistance.

The good news is, instead of depending on government assistance or qualified plans (IRA, 401k, etc), you can live the good life and control your own financial destiny. By Becoming Your Own Banker, as outlined in the bestselling book, you can live your life without restrictions.

When you Become Your Own Banker:

• You control your money.
• You can make decisions without penalty.
• You have liquidity.
• You have guarantees.
• You have peace of mind.

The Infinite Banking Concept, as outlined in the bestselling book Becoming Your Own Banker by R. Nelson Nash, is a way to create a personal financial system where you remain in control. You can finance all of your purchases over your lifetime, with your own bank! You have a solid foundation that will protect you and your loved ones in the event of financial loss. You will have access to capital when you need it and for anything you want without taxes, penalties or restrictions. Learn more and order the book, Becoming Your Own Banker, here: http://legacyinsuranceagency.com/byob/becomingyourownbanker.html

Now is the time to protect your loved ones and create your own legacy of love. Take control of your finances today by learning how to become your own banker. Request a no-cost, no-obligation analysis:
http://legacyinsuranceagency.com/financial/financial-review-analysis.html
 

Show your love this Valentine's Day by controlling your financial future and protecting what matters most.

I'm truly yours to count on,
Barry Page
Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com

 

Barry Page is recognized as a leading expert on life insurance and private banking. He is a financial consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the Southeast.

What Would You Do If You Knew You Couldn't Fail?

What Would You Do If You Knew You Couldn't Fail? Think about that for a moment. We often turn our heads or close our minds to new ideas because of fear. If you take it a step further, and consider the outcome being a positive one, then imagine the possibilities.

I have learned through the Infinite Banking Concept, that my capital has a cost, and I must recoup my capital outlay to practice this principle. You see my spending habits will cost me THOUSANDS of DOLLARS of MY OWN MONEY every year if I don't practice banking.

Now, let's take it a step further and discuss what it will cost you if you continue down the traditional path of financing and paying cash for your purchases. This is only 1 example out of numerous ways that you can transfer away your wealth over your lifetime.

Here's an example of purchasing a car: Automobile Financing
What would you do with 1 MILLYUN$?

So, you may be thinking that you're not going to purchase that many more cars or you'll buy used ones. What about your kids? and grandkids? You see, IBC is about keeping your money in the family.

And, have you thought about the Cost of College? Credit Cards? And, other purchases you will make.

The whole idea is to recapture the interest that you are paying to banks and finance companies for the major items that you will purchase over your lifetime, such as automobiles, major appliances, education, homes, investment opportunities, business equipment, etc.

"You finance EVERYTHING that you buy. You either pay interest to others or you give up the ability to earn interest by paying cash." ~Nelson Nash

Why would I be encouraging you to learn the Infinite Banking Concept? Because I want you to learn what I've learned, and yes, ultimately you may become a client. If you do, you will discover why my clients are calling me and thanking me during these tough, economic times. I am convinced that IBC will change your life, the way that it has mine.

You see, when I first got in the financial services business, I was encouraged to follow and teach others the same, tired methods of accumulating wealth that everyone else is using. I soon learned that those methods are a failure! If traditional financial planning worked, why do you think that so many people are broke and struggling to make ends meet?

These flawed methods of personal economics focus on the accumulation of wealth by  consistently contributing to an account and compounding the interest earned over time. When we subject ourselves to this form of thinking we are limiting our human life value.

Over time fallacies and falsehoods develop into myths. Falsehoods developed and perpetuated by so called "financial gurus" limit our productivity and stifle our human life value. Myths destroy our confidence by instilling our minds with doubt and fear.

You have probably heard the following fallacies and myths:
1. You're in it for the long-haul.
2. High-Risk = High Returns.
3. The market has averaged 10-12% over time.
4. Work hard, go to college and get a good job.
5. Save money, get out of debt, invest for the long-term and diversify.
6. When you retire you'll be in a lower tax bracket.
7. When you retire you won't need insurance.

What makes theses Myths so Destructive is that they are based on a scarcity mindset, and are Perpetuated from Generation to Generation. When we embrace the scarcity mindset we are buying into the belief that our resources are limited. Scarcity fails to account for self-worth and further limits our opportunity for ownership and growth.

If you can't afford to wait 20-30 years to build retirement wealth then learn how the VELOCITY OF MONEY can turn your financial world around and put you in control of your money. Learn how banks grow their bottom lines and Use Your Money to make money, Learn HOW TO BECOME YOUR OWN BANKER.

Today, my entire practice revolves around teaching others about the Infinite Banking Concept. Because I've learned firsthand that it works, and I've seen the impact it can have on other people's lives. So, I'm reaching out to you, because I care about you and your family. I care that your family may be subjected to the same fallacies and myths that the financial institutions
and elite want you to believe.

TO DO NOTHING IS TO RISK EVERYTHING! You have NOTHING TO LOSE and EVERYTHING TO GAIN. Click this link to learn how you can take control of your finances: Becoming Your Own Banker


Yours to count on,
Barry Page, RFC
Registered Financial Consultant
Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com