Manage episode 284070750 series 2516289
Human beings have to choose between two paths - conformity or creating an amazing life for ourselves.
If we want to build wealth and gain personal freedom, we have to take a journey of clarity and create a life outside of the financial lessons forced upon us.
This is where the Infinite Banking Concept comes in. It is a process of creativity and unlimited opportunity that requires changing one thing - where our money goes first.
Everytime we spend money outside of IBC, we’re losing the interest we could have gained or worse still, we’re paying someone else the interest. IBC is a powerful tool that we have never fully realized because we’ve always been on the borrower side of the equation. We can change that by taking control over our money, and becoming our own bank.
How did the IBC come into existence, and how have people used it to invest in themselves and create wealth? What’s the one thing people get wrong about IBC?
In this episode, I’m joined by financial coaches and Wealth Without Wall Street partners, Russ Morgan and Joey Mure. We talk about the IBC, and why it’s a critical piece to creating the life we want.
Three Things You’ll Learn In This Episode
How we can become the bank IBC allows us to participate in a system where we deposit money into an account that we control and own. We could borrow money against that and take over debts and use it to finance our assets. Most people are used to putting money away and not having access to it which shuts their mind off to the opportunities they could have if they controlled their own money.
The truth about banks and IBC Banks have billions of dollars in the cash value of life insurance policies. Their vast real estate holdings are actually worth less than the cash value of their insurance policies. They are using financial tools and asset classes differently to what we’ve been taught. We can take over the function that someone else is benefitting from, so that it serves us and our goals.
Why IBC is the first step in building wealth The concept and process of Infinite Banking dies if we think the policy will make us wealthy. What makes the difference is how we make use of that policy to fund our ventures and build our wealth. Don’t get lost in the policy, allow the policy to be the first step to unlocking your thinking and start seeing how you can find opportunities
Joey Mure and Russ Morgan are Financial Coaches and Partners at Wealth Without Wall Street. Wealth Without Wall Street provides financial insight and tools to break free of the mindset and bondage of Wall Street. They seek to serve as the standard in financial coaching for real estate professionals all over the nation.
Traditional financial planning models limit the contributions, access, and efficiency. The Wealth Without Wall Street team understands fluctuating incomes and uncertain annual (or quarterly) tax bills.
For more information on the Wealth Without Wall Street app and inner circle, visit wealthwithoutwallstreet.com/moneyschool.