By Living Wealth
The podcast currently has 251 episodes available.
Want to become your own banker and build financial independence through infinite banking? Schedule your FREE consultation now!
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In this episode, Nate Scott discusses the three pillars of a fulfilling life: faith, community, and purpose. He goes into detail about how each pillar can affect the way we live, using examples from his own life and explaining how faith, community, and purpose can also be applied to finances to increase wealth-building potential.
Find the free resources mentioned in this episode here:
https://livingwealth.com/e240
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Get instant access to our FREE Infinite Banking course here now: https://livingwealth.com/escapethebank
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Key Takeaways:
Faith can guide your financial decisions, reduce stress about money and provide a sense of peace during uncertain times.
Community and collaborating with others can open opportunities and provide support, multiplying your efforts and results.
Purpose directs your financial actions, ensuring they align with your personal goals and lead to meaningful success.
Fulfillment is more important than rate of return because true financial success isn't measured by numbers but by how those numbers help you live the life you want.
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Watch This Next ➡️3 Reasons Why Retirement Programs Don’t Lead To Financial Independence
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CHAPTERS:
03:49 The Role of Faith in Fulfillment and Finance
04:21 The Power of Community in Building Wealth
06:38 Purpose-Driven Financial Strategies
14:53 Achieving Fulfillment Beyond Financial Returns
22:06 Integrating Infinite Banking into Your Life
In this episode, Nate Scott unveils the real reasons why retirement programs fail to produce financial independence for most people. He explains how they create a passive environment that is not conducive to wealth building, and how the timing of the market may not align with your life's timing, making you constantly financially vulnerable. Nate advises people to focus on becoming financially independent through active wealth building strategies, such as infinite banking.
Ready to become your own banker and build financial independence through infinite banking? Schedule your FREE consultation now!
Key Takeaways:
Retirement programs create a passive mindset that makes consistent wealth building impossible.
Retirement programs do not do a good job of producing passive income.
The timing of the market may not align with your life's timing.
Focus on becoming financially independent through active wealth building strategies can lead to a higher chance of success.
Episode Resources:
Gain FREE access to our Infinite Banking Course here
What is Infinite Banking
Who was Nelson Nash?
In this episode, Nate Scott explores the three critical pillars of financial independence—income, security, and control—and reveals how Infinite Banking offers a unique pathway to achieve these goals. Drawing from personal experience, Nate illustrates how Infinite Banking serves as a cornerstone for building passive income streams, ensuring financial security, and retaining control over one's financial destiny. He invites listeners to embrace Infinite Banking as a powerful tool for transforming their financial future and attaining lasting independence.
Ready to break free from the traditional financial system and become financially independent through infinite banking? Schedule your FREE consultation now!
Key Takeaways:
The Quest for Financial Independence: Financial independence is the ultimate goal for many, but traditional financial strategies often fall short of achieving true independence.
The Three Pillars of Financial Independence: Income, security, and control are the three essential pillars for achieving financial independence. Without balance across all three, you can’t achieve true independence.
The Role of Infinite Banking: Infinite Banking offers a unique approach to financial freedom, providing a foundation for building passive income streams, ensuring financial security, and retaining control over one's financial future.
The Value of Infinite Banking: The true value of Infinite Banking is not only in the policies themselves but in the way you can leverage them to achieve financial freedom.
Episode Resources:
Gain FREE access to our Infinite Banking Course here
What is Infinite Banking
Who was Nelson Nash?
In this episode, Nate Scott discusses how to retrain your mind to see finances differently and overcome limiting beliefs. He explains that our brains filter information that seems unimportant to simplify decision-making, but this often leads to scarcity thinking and missed opportunities. That’s why Nate introduces the concept of infinite banking as a way to retrain your mind to think differently about money.
He highlights three pivotal shifts in mindset: realizing you don't have to take risks to make money, understanding that your money can serve multiple purposes simultaneously, and recognizing that business and investment opportunities are everywhere.
Ready to build generational wealth and financial independence through infinite banking? Schedule your FREE consultation now!
Key Takeaways:
Our brains filter information to simplify decision-making and protect us, but this can lead to scarcity thinking and missed opportunities.
Infinite banking can retrain your mind to think differently about money and see new opportunities.
Shift your mindset to realize you don't have to take risks to make money.
Understand that your money can serve multiple purposes simultaneously.
Recognize that business and investment opportunities are everywhere.
Retrain your mind to see new opportunities and update your perspective on finance.
Episode Resources:
Gain FREE access to our Infinite Banking Course here
What is Infinite Banking
Who was Nelson Nash?
In this episode, Nate Scott dives into whether it is possible to do infinite banking without using whole life insurance. He explores alternative financial strategies such as velocity banking and borrowing against brokerage accounts, comparing and contrasting them with the principles of infinite banking. While acknowledging the effectiveness of these alternatives for cash flow management and asset building, Nate explains that whole life insurance policies offer unique benefits for wealth accumulation and creating a banking asset with guaranteed returns.
Ready to become your own banker and build financial independence through infinite banking? Schedule your FREE consultation now!
Key Takeaways:
Infinite Banking Versatility: While infinite banking principles can be applied without whole life insurance, they may not offer the same unique benefits.
Alternative Financial Tools: Strategies like velocity banking and borrowing against brokerage accounts can be effective for cash flow management and asset building.
Unique Benefits of Whole Life Insurance: Whole life insurance policies offer a secure and guaranteed method to build wealth and create a banking asset that produces value in various aspects of life.
Personalized Financial Choices: Choosing the right financial tool depends on individual preferences and objectives, with each option offering distinct advantages tailored to specific financial goals and circumstances.
Episode Resources:
Gain FREE access to our Infinite Banking Course here
What is Infinite Banking
Who was Nelson Nash?
In this episode, Nate Scott sits down with Corey Carpenter, an anesthesiologist and long-time client of Living Wealth, to discuss Corey's financial transformation. Corey shares his journey from being overworked and burned out to adopting the empire over retire mindset and building a life that he doesn't have to retire from.
They discuss the importance of relinquishing control and trusting in God's plan, the true fulfillment that comes from living in the present moment and focusing on quality of life, and using infinite banking to build capital and create opportunities for himself and others.
Ready to break free from the traditional financial system and become financially independent through infinite banking? Schedule your FREE private consultation now!
Key Takeaways
Adopting the empire over retire mindset can lead to a total financial transformation.
Reading books like Antifragile can change your outlook on life and money.
Experiencing boom and bust cycles can shape your mindset and financial decisions.
The scarcity mindset can be both beneficial and detrimental, and it's important to reassess its impact on your life.
Transitioning from a conventional wealth-building formula to the infinite banking concept can provide a new perspective on financial freedom.
Seeking an abundant life involves reevaluating priorities, creating margin, and finding balance between work and personal life.
True fulfillment comes from living in the present moment and focusing on quality of life.
Building capital allows for the creation of opportunities for oneself and others.
Investing in non-traditional assets like cryptocurrency can be a part of an Antifragile financial strategy.
Episode Resources:
Gain FREE access to our Infinite Banking Course here
What is Infinite Banking
Who was Nelson Nash?
In this episode, Nate Scott dives into the whole life insurance debate by presenting five reasons why people believe infinite banking is a scam, and five opposite reasons why people like whole life insurance. His goal is to bridge the gap between those who support and those who criticize whole life insurance. Nate acknowledges the valid concerns of skeptics while also highlighting the benefits that attract many to the infinite banking concept. By offering a nuanced discussion, Nate hopes to encourage listeners to consider different viewpoints when making financial decisions.
Key Takeaways
Criticisms of Infinite Banking: its expense, the belief that agents' are only in for commissions, lower rate of return, the idea that you’re “borrowing from yourself”, and the perception of the insurance company taking the cash value upon death.
Reasons for Choosing Whole Life Insurance: its long-term growth potential, contractual access to money, built-in estate and legacy planning, the ability to fund other investments, and the potential for safe, tax-free passive income.
Bridging the Gap: Understanding both sides of the debate can help bridge the gap and foster understanding between proponents and critics of whole life insurance.
Episode Resources:
Gain FREE access to our Infinite Banking Course here
What is Infinite Banking
Who was Nelson Nash?
In this episode, co-hosts Holly and Nate discuss how her perspective on money and life has changed since her cancer diagnosis. They encourage listeners to live a life they love today, rather than waiting for a future that is not guaranteed. Holly emphasizes the importance of waking up every day and choosing to do what you love, understanding your purpose, and being in God's will. They discuss the significance of relationships, the dangers of seeking control, and the freedom that comes from surrendering to God's plan. They also highlight the benefits of implementing Infinite Banking and having a financial plan that aligns with biblical principles.
Key Takeaways:
Live a life you love today, rather than waiting for a future that is not guaranteed.
Wake up every day and choose to do what you love.
Finding your purpose and being in God's will brings fulfillment.
Prioritize nurturing and investing in meaningful relationships.
Instead of striving for control, focus on managing stress and avoiding burnout.
Integrating Infinite Banking into your financial strategy offers both freedom and security.
Crafting a financial plan rooted in biblical principles can lead to lasting benefits and peace of mind.
Episode Resources:
Gain FREE access to our Infinite Banking Course here
What is Infinite Banking
Who was Nelson Nash?
In this episode, Nate Scott discusses the confusion that happens when you misclassify policy transactions as income statement transactions instead of balance sheet transactions. Nate explains the difference between income statement and balance sheet and how they interact with each other.
He provides examples of income sources and expenses and how they affect the net free cash flow. Nate also discusses the movement of money on the balance sheet, including the impact of policy loans and repayments. He ends the episode by emphasizing the importance of understanding the classification of policy transactions and their impact on the overall financial picture.
Key Takeaways
Misclassifying policy transactions can lead to confusion and misunderstanding of their impact on personal finances.
Income statement transactions and balance sheet transactions are different and should be classified correctly.
Understanding the movement of money on the balance sheet is crucial for effective financial management.
Policy loans and repayments are balance sheet transactions and do not add new expenses to the income statement.
Episode Resources:
Gain FREE access to our Infinite Banking Course here
What is Infinite Banking
Who was Nelson Nash?
In this episode, Nate Scott answers the five most frequently asked questions about infinite banking. He talks about the importance of choosing the right insurance company, how policies continue to grow even when borrowed against, the difference between direct recognition and non-direct recognition, the pros and cons of different policy designs, and the whether or not you should run all finances through a policy. Nate emphasizes the need for individualized approaches and recommends starting with a solid foundation before considering more complex strategies.
Key Takeaways:
To practice infinite banking, choose a mutual life insurance company that offers dividend-paying whole life policies.
Policies continue to grow even when borrowed against because the insurance company lends money against the policy's cash value, which still earns interest and dividends.
Direct recognition and non-direct recognition refer to how insurance companies apply dividends to policies with loans.
The design of a policy, including the base premium and paid-up additions, depends on individual circumstances and goals.
Running all finances through a policy is not recommended for most people. It is important to start with a solid foundation, understand cash flow, and gradually incorporate policies into financial strategies.
Individual circumstances and goals play a significant role in determining the best approach to infinite banking.
Episode Resources:
Gain FREE access to our Infinite Banking Course here
What is Infinite Banking
Who was Nelson Nash?
The podcast currently has 251 episodes available.