Dec 5, 2023
In today's episode Wade talks about the Infinite Banking Concept (IBC) and why it's more than just interest rates. While interest rates matter, the real focus should be on control. Your whole life policy, whether new or old, is the key. Forget the noise about interest rates; it's about who controls your loan. Take a listen to hear how becoming the banker in your life can transform your financial decisions.
Episode Highlights
01:27 - Explanation about how the whole life policy works and
the benefits of the infinite
02:54 - Suggestion to separate the conversation about
interest rates and to whom it's being paid.
03:37 - Explanation of a loan policy where the loan holder
has guaranteed, first-position access to get a loan against the
equity in their policy.
04:10 - Contrast between home equity loans from banks and
loans from life insurance policies.
05:00 - Discussion on the benefits of an unstructured loan
and the importance of discipline in repayment.
06:57 - Importance of being in control of your own business
decisions and loan repayments, instead of letting the bank call the
shots.
08:15 - How having control over your finances can help you
handle unexpected obstacles more effectively.
09:47 - Reiteration of the importance of focusing on loan
guarantees and an unstructured loan provision over the interest
rate.
Episode Resources
- Connect with Wade Borth
- https://www.sagewealthstrategy.com/
- wade@sagewealthstrategy.com