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Had a great presentation on the Bitcoin Life Insurance company called Meanwhile... This company only accepts Bitcoin and the life insurance is denominated and paid out in Bitcoin. The idea is to purchase this insurance product as a whole life insurance policy. Then use the loan provision to borrow against your bitcoin as a way of privatized banking. This is basically the same strategy that was developed the late Nelson Nash called The Infinite Banking Concept. I'm looking to start promoting this along side our fiat dollar life insurance products. More to come as I was able to make the connect and meet with Danny image
We get asked a lot why we don't use or recommend Universal Life insurance for the Infinite Banking Concept... #1 reason is risk... #2 is fees and #3 the potential to lose money either in the near term or down the road when the cost of insurance increases dramatically... Whole life insurance, structured for the Infinite Banking Concept is the only too we recommend. image
Small business owner that payed off business and wants to know what to do with excess money. This sounds like the perfect candidate for implementing the Infinite Banking Concept... Most business owners struggle because of the lack of access to capital either in a crisis or in the event of a future opportunity that could be taken advantage of by having said guaranteed access to capital. Secondly, The Infinite Banking Concept β„’ is perfect for real estate investment as well as future business expansion. As said in the commentary, always invest in yourself first, the determine other investments that you are interested in and that you thoroughly understand. My reply to this business owner, get and read the book Becoming Your Own Banker, as well as The Case for IBC, which is a newer book that is written in the eyes of a business owner. Links to the books in the comments. Great job @Matthew Sercely
As an Authorized Infinite Banking Concept Practitioner, I occasionally re-read or re-listen to the Book Becoming Your Own Banker. I think I get something different from it each time. Many people that try to bad mouth the concept have really never went through the book to really understand it. The ideas in the book are 180 degrees from conventional finance... For instance the saying "You finance everything, you either pay interest or you give up interest, there can be no other way" Listen to Becoming Your Own Banker by R. Nelson Nash on Audible.
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One of friends made this on Ai. I would totally buy something like this. Who was Nelson Nash? image
We started a new page and group to help those near Clarksville / Montgomery County Tennessee and Ft. Campbell Kentucky learn more about the Infinite Banking Concept. If you'd be so inclined, give us a follow, share the page and join the group. We'll be planning some events in the near future.
"10% of everything you earn is yours to keep." This principle is often associated with the book β€œThe Richest Man in Babylon,” which advocates setting aside at least 10% of your earnings for savings or investment. The easiest way to do this is to do it automatically. That means every time you get paid, take 10% of that and put onto a segregated account. Where should you do this? How should you start? We used to use bank savings accounts when we first got started, once we built up enough of a cushion, we moved to putting our 10% into specially designed whole life insurance, according to the Infinite Banking Concept... After that once we built up sufficient amounts to weather any storm... Next we are investing in cash flow assets (assets that pay you back) we use loans from our life insurance and pay back with more than the interest charge. Personal finance isn't that hard, just have to start somewhere. We still use bank savings for local cash and temporary savings, we keep a majority in life insurance polices because they are safe, liquid, earn higher interest than savings account, and just so happen to have a death benefit as a bonus. Next thing we are looking into is to start purchasing bitcoin as a reserve asset. There are several companies out there you can DCA (dollar cost average) purchases of bitcoin, daily, weekly, or monthly. We set it and forget it, we don't care about the price, we are just Stacking Sats and staying humble. Setting up reoccurring buys on something like Strike is super easy. We also use the fold debit card for purchases in order to earn bitcoin with every buy. These are things I don't see the "typical" financial advisors talking about...