Dollars and Nonsense

We discuss how to avoid the biggest mortgage pitfalls most people fall into so you can use your mortgage to your advantage.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e67

This topic is big--too big for just one episode, in fact. So, we're going to make this a two-part series.

Why is mortgage pitfalls such a big topic?

Typically, homes are our most significant decision and purchase. This means how we're going to pay for it is also essential. How you view your mortgage can also be significant. For instance, one of the mortgage pitfalls of buying a home is many people think that their house is an asset and that can be dangerous thinking. As Robert Kiyosaki, author of Rich Dad Poor Dad, says an asset is something that's supposed to put money in your pocket. Is your home putting money in your pocket, though?

We expand on this and more in this episode.

Avoid Mortgage Pitfalls and Make it Work For You:

• 15-year vs 30-year mortgages
• Is a home really an investment
• Using the equity in a home for more than a savings account
• Understanding assets vs. liabilities
• Why banks prefer and entice borrows to take the 15-year
• Paying back the bank slowly versus quickly and the advantages

Episode Resources:

* Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/

* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/

* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

We discuss the basics of how to build and fund a banking policy from the start. Plus, we'll share real-world examples of how other people have funded their policies to help you understand what it could look like for you.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e66

How to Fund a Banking Policy Topics Covered:

• Starting with the simple questions to ask yourself
• Transitioning the money you're already setting aside
• Answering the common question of, "Do I need a lot of money to start?"
• Using Tax Refunds
• Using a home equity line of credit (HELOC) when you're home has a high level of equity
• 401(K) based loans
• Using lump sums and spreading things out
• Limitations and Modified Endowment Contracts in a nutshell
• The phases of building an IBC system

Episode Resources:

* Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/

* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/

* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

Special guest Ray Poteet joins us to discuss how you can use infinite banking to take the stress away from paying your income taxes each year. Plus, he'll share how you can actually make a profit doing so.

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e65

~ Recieve your free copy of The Tree of Wealth here:

https://livingwealth.com/freedom

Taxes are such a significant and stressful burden for most people. The good news is there is a way to not only reduce the stress of paying income taxes, but there's also even a way to profit from them. For the last two years, Ray has shared with clients a system to recapture money spent on income taxes. Today, he'll share it with listeners.

• The story of when the method first occurred to Ray
• The simple system for paying income, property taxes, and charitable giving through policies
• The two rules: paying yourself first and paying yourself interest
• Why using separate policies is important to the process
• How the math works

Episode Resources:

* Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/

* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/

* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

In this episode, we will discuss the importance of working with a mutual life insurance company, and how to start thinking like an owner instead of a depositor.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e64

A mutual life company is one of the fundamental pieces of private family financing. You see, whenever you buy a policy from a mutual life insurance company, you become an owner of the company; You're not a customer of the company anymore you're the owner. We discuss this and explain all the moving parts. Listen now to learn more.

Topics Discussed:

• The basics of what a mutual life insurance company is and how to think about it
• How a mutual life company, fits into infinite banking and why it's the best fit
• Being a depositor versus being an owner
• Banks versus insurance companies and how they're the same and different
• One of the most common questions we're asked what why it is such a good one to ask
• What a mutual life company, is and isn't; what they do and what they don't do
• When changing perspectives yields big dividends

Episode Resources:

* Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/

* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/

* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

We discuss the unrealistic retirement expectations people have, and how you can find fulfillment in your work instead of merely working for a paycheck.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e63

Today we're talking about a topic that either you like talking about or you avoid talking about, depending on your personality. That topic is retirement. It can be exciting, it can be scary, it can be nerve-racking, but it just depends on how well you've prepared and your relationship with money and work, to begin with.

We'll uncover some of the things we found that make retirement expectations dangerous.

Topics Discussed:

• Thinking differently about retirement
• Determining the right age to plan for
• Counting the days vs. loving what you do
• Rabbi Lappin and Nelson Nash on retirement
• Finding meaning and value in service and passion
• The two options for dealing with a job you hate
• The false dreams financial services sell us and why
• Who arbitrary ages set limitations

Episode Resources:

* Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/

* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/

* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

We discuss the value of making loans funded through an infinite banking policy. We also share how policy loans affect your policy and the real way you should think about that internally in the policy.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e62

We're often asked by our clients and podcast listeners how loans affect infinite banking policies. People frequently also ask what impact the loans will have on the death benefit beneficiaries.

Today, we answer those questions and more.

Topics Discussed:

• Policy loans and the impact on wealth transference to beneficiaries
• Whether or not a loan is a prepayment on a death benefit
• An overview of how loans affect the math and put you ahead
• How the death benefit alone is not the full picture
• The value of making a loan and the value that the policy can add
• A 13-million dollar case study

Episode Resources:

* Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/

* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/

* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

We discuss stagnant money versus money in motion, and how infinite banking can help you make money in a whole new way.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e61

Keeping money moving is a fundamental strategy banks employ to accomplish their goals. In other words, banking is about making money move constancy.

Our personal goal is to not just let money sit someplace. We want to be able to use our money productively like banks do. This is as much what you're doing with it as it is how you're using money. Today, we'll share how you can think like a bank.

Topics Discussed:

• What does it mean for money to sit and why is it bad
• What does money in motion mean
• How the wealthy keep money in motion
• Why the more you keep your money moving, the more money you can make off it
• The fundamental rule banks follow and why you should too
• How to make your money do more than one job at a time
• Thinking of policies as vehicles and not a storehouse for your money

Episode Resources:

* Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/

* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/

* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

We discuss how infinite banking is more like starting a business than just saving money and how you can operate your finances like a business.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e60

People new to the concept often begin with a savings mindset. Sometimes even long-time practitioners have not made the connections yet. However, the real magic is making the money move. It is a mental shift or a thinking process change.

To do that, you first must see what you're doing as though it was a business and not a savings account. It requires a new way of looking at things and in this episode, we'll share how.

Topics Discussed:

• Changing the way you think to see Infinite Banking through fresh eyes
• The two businesses you're actually in
• Clearing up common confusions about Infinite Banking and mindsets
• Being in the money business
• Understanding the long view of profitability
• Making money move and work rather than just sitting around passively

Episode Resources:

* Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/

* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/

* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

Ray Poteet joins us to share the money mistakes that he's made over the past almost 50 years to help you avoid the same pitfalls. These are lessons from both in the investment world, as well as the errors he made while initially practicing Infinite Banking.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e59

A lot of people like to talk about the success that they've had. But, often, the best lessons come from other people's mistakes. Ray is very efficient with money and rarely loses anymore because of what he's learned from financial mistakes made in the past. In this episode, he shares with you so you can get a leg up and don't have to learn the hard way what works, what doesn't, and what's holding you back.

Topics Discussed:

• Where Ray got his start in life insurance
• His early money mistakes
• Lessons from the financial crashes of the '70s, '80s, early 2000s, and 2008
• The moment Ray felt completely betrayed by his industry and why
• Uncovering the cash fallacy
• When and how IBC came into Ray's life
• When Ray realized he'd missed out on an easy $183,000
• Focusing on the short view and missing the big long view
• The small mental shifts in perception that make a huge difference in your wealth

Episode Resources:

* Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/

* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/

* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

Ray Poteet joins us to share strategies and tactics for building and leaving a legacy of wealth. A must listen for any parents, grandparents, and expecting grandparents.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e58

If you're a new listener, Ray Poteet is the founder of Living Wealth and author of The Tree of Wealth. Join us as he draws on and shares his vast experience in teaching future generations about money and helping them achieve financial significance.

Topics Discussed:

• Lessons learned on teaching the next generation about money
• Teaching by example
• The ease with which you can get sidetracked and how to find your way back
• How IBC works for grandparents wanting to build and leave wealth
• Using policies to protect an estate between generations
• How keeping and recirculating money in the family helps you never to lose control

Episode Resources:

* Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/

* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/

* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/