Dollars and Nonsense

In this episode, we will discuss why you need to become your own banker, even if you have no debt.

Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e17

We're often asked, "What if I don't have any debt?" Or "How does Infinite Banking work once I'm out of debt?"

You see, a lot of people have been taught to take loans, and they pay off their loans. And people who follow this line of thinking don't have any debt.

But what those people don't understand is that banks make just as much money off your deposits as they do on your loans. So, the reality is you might not have any debt, be making any mortgage payments, loan payments, or even credit card payments, but you are still depositing money into a banking system.

In other words, the bank doesn't care if you deposit money with them or if you borrow money from them. They just want your money!

The reason why you need to become your own banker is it's not just about paying off debt; it's about getting the bank completely out of your money. They are the ones who are conning us into believing that they're a good place to make money when in reality, they're the ones making a killing off of you no matter what chair you're sitting in.

So join us as we deep dive on why you need to become your own banker.

Become Your Own Banker Topics Discussed:

* Common questions about becoming your own banker * How banks make money both ways * The tax implications of storing your money in a bank * The opportunity cost of not becoming your own banker * Who put your cash to work for you in unconventional ways * Building personal systems for wealth growth like a bank * Getting out of debt * Recapturing the interest you've previously paid everyone else

Episode Takeaways:

* Banks don't care if you deposit money with them or if you borrow money from them. They just want your money.

* The dollar that we made in the bank savings account, we pay taxes on.

* Banks make just as much money off of your deposits as they do on your loans. It may be time to be your own banker.

In this episode, we will discuss how to teach kids about money and the biggest mistake parents make. You see, there are three big mistakes parents make when teaching kids about money, and what you can do instead to help them have a healthy relationship with money.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e16

How to teach kids about money is an underserved topic. It's also a very interesting topic because each person has their goals to teach with their kids. But there are a few common mistakes that people can make when teaching kids about money. These are points nearly everybody can probably agree with, to a certain extent.

And in this episode, we also discuss the topic from two different perspectives: Parents of young children just starting to approach the subject and parents of more mature children needing to further the discussion.

So join us as we dispell mythise and bring some sunshine to your outlook.

Teaching Kids about Money Topics Discussed:

* The importance and impact of practicing what you preach * Teaching kids about saving vs. spending * The credit card talk * Helping kids not make our mistakes * The importance of busting the magical money tree myth * The dangers of never formally discussing money with kids * Instant gratification and interest vs. saving for

Episode Takeaways:

* If you never discuss money with kids, as you're saying, it can just seem kind of magical to kids.

In this episode, we will discuss the biggest myths about paying for your children's college tuition. And we'll share with you how you can survive your children's college years without destroying your retirement.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e15

This is an exciting topic. The cost of college tuition spiraling out of control can cause a lot of stress on parents. They think it's up to them to be able to afford for their kid's college tuition.

But it's not all financial doom and gloom. There may even be a way to make paying for college tuition painless.

A lot of parents believe several major myths about being able to afford college tuition for their children. And these parents are planning on paying for college tuition without realizing that some of these myths aren't true. You see, the way colleges and universities determine financial aid and grants is very different from what most of us are taught to believe.

So join us as we dispell mythise and bring some sunshine to your outlook.

College Tuition Topics Discussed:

* The mounting task of paying for college tuition * Dispelling the "I make too much money" myth * What factors college financial aid actually look at to determine eligibility * FAFSA (Free Application for Federal Student Aid) and what Expected Family Contribution is * How inherited capital and assets impact your child's chances of getting college financial aid and grants * How your 401K and IRA contributions can impact your kid's ability to get college financial aid * The limitations of 529 plans * How 529 plans can hurt you

Episode Takeaways:

* Even people who don't make a ton of money believe they can't receive any aid for college tuition. Not true. * The biggest thing that will prohibit you from getting any financial aid is if your kids have assets -- including 529 plans. * Approximately 5 to 6% of the family's assets are included in the Expected Family Contribution calculation * The family income—the perceived factor people stress about the most —is what colleges weigh the lease

In this episode, we will discuss how banks, the most profitable business in the word, have a monopoly on your money. And we'll share how you can break free from their scheme.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e14

We can talk about this thing for hours. But in this episode, we're going to nail down how banks work in under a one-half hour. In the course of explaining how banks work, we'll also discuss the inherent problems they create. And we'll shed light on infinite banking: becoming your own banker.

~ Banking Topics Discussed: ~

* How banks make money off of you * Why banks keep only a small amount of physical cash on hand * Why banks love credit cards so much * How to use Infinite Banking in place of a traditional bank * Paying yourself interest instead of a bank * Why we say "banks have a monopoly on your money" * Where the FDIC comes in * Are banks running a legal Ponzi Scheme

Episode Takeaways: * Banks make money off of you by simply allowing you to deposit your hard-earned money into their bank. * Every deposit that someone makes at a bank is really like a little loan to the bank. * We're all lending money to the bank, and the bank puts it to work for themselves while charging you. * The most expensive money a bank has is the money that has to sit in their teller's drawer because it's not working for them. * We're paying the bank to use our own money. * That's the Ponzi Scheme that the banks run with our money right now.

In this episode, we will discuss how you can discern whether or not something is really too good to be true so that you don't get swindled by the next fly by night salesman.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e13

We're in the type of financial business where we're privy to hear people say, "Wow! This sounds so good it might be too good to be true."

And I know you've heard it many times talking with clients. But why do people say that? What do people really mean when we say the phrase, "It's too good to be true?" What's going through somebody's head when they say that?

We give you the tools to determine what is and isn't "too good to be true" in this episode.

~ College Tuition Topics Discussed: * The most common financial strategies that people get burned by * Get-rich-quick-schemes to stay away from * Is the Infinite Banking Concept to good to be true * Why banks are the biggest buyers of Whole Life Insurance policies * The financial strategy even Walt Disney used to start Disneyland * The financial strategy used to get JC Penneys off the ground and again to survive the great depression * How you can get a guaranteed rate and tax-free growth on your money

In this episode, we'll discuss the implications of taxes on retirement. We'll address the biggest question that most people don't ask, but should be aware of, when putting money away for retirement.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e12

We've got a pretty exciting episode for you; it will focus on taxes on retirement. You see, there are various ways that people can be taxed while building wealth and when they retire. So we share some questions to ask yourself to determine which route is right for you.

There are different ways taxation can impact your retirement plans. What we'll do in this episode is bring to light some things that must be considered and how different strategies can impact taxes on your retirement in the future.

~ Retirement Taxes Discussed: ~

* Retirement wealth vehicles and options * IRAs * 401Ks * 403B's * Whole Life Insurance * Stock Market Investments * Pension Plans * Real Estate * How your lifestyle may have to be reduced in retirement because of unexpected taxes * The myth of being placed in a lower tax bracket upon retirement * The reality of how much you'll need to live on in retirement * The deductions you'll keep and lose * The future of Social Security * The affect of income on Social Security taxation * The affect of income on Medicare premiums Episode Takeaways:

* The last time taxes were decreased was when Reagan was president. So chances are you're gonna be in a higher tax bracket when you retire.

* Tax laws that are in effect today can change at any point, and so you might believe it's not gonna be taxed in the future.

* You could be living off hundreds of thousands of dollars a year inside of a policy and nobody would know.

Is fear impacting your wealth? In this episode of Dollars and Nonsense, Holly and Nate dig up the root of your financial worries and set out a plan to eliminate it. If you desire to provide a family legacy for future generations but aren't eager to reduce your lifestyle, listen in and learn how to build your wealth differently. Escape the doubt and fear by taking charge of your money and thinking outside the box.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e11/

~ Episode Takeaways:

* We've been programmed to let a lot of fear and worry control our lives and give control of our money over to banks and the government.

* If you would learn to kick the bankers out of your life . . . you would be able to make so much money on your money.

* If we would actually pay ourselves first, we would save first. [Be] a saver first and then the spender.

* Changing a loan from somebody else's bank back to you [turns] a liability into an asset, which is how the wealthy build their wealth.

* The focus that the world has put us into is work hard and buy some assets and hope that those assets generate you a rate of return.

* Build wealth that doesn't force you to reduce your lifestyle to be able to afford the things you want to do in the future.

* Creating loans to recapture your debt [will] create assets and a better lifestyle for you and leave a lasting legacy for your family.

Health care expenses are rising for most American families, and the costs don't seem to be settling anytime soon. In this episode of Dollars and Nonsense, Nate and Holly explain the lesser known alternative options in health care that can save your family's wealth and give you ease of mind, all while growing your money along the way. When you get all the facts and think outside the box, there's no need to be scared of healthcare.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e10/

Episode Takeaways: * See how universal healthcare affects your family * Learn why you should rethink premiums * Discover health care sharing ministries

What does a football coach and the University of Michigan have to do with building your wealth? In this episode, Nate and Holly unpack a recent contract negotiation that teaches us the multiple benefits of life insurance. Listen in as the hosts discuss how a life insurance policy has been used to help some of the most influential businesspersons and how it can help you in the same 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/e9

Episode Takeaways: * Why the wealthy buy so much life insurance * How the middle class can use a policy like the rich * How life insurance can be more than just a death benefit, and * How to step up your charitable giving without falling behind.

In this episode, Nate and Holly share the three key steps to breaking free from burdensome debt and never returning to it. Learn how to get serious about the bills crippling your wealth goals and how to change your financial outlook moving forward. Don't let your debt control you any longer.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e8/

Plus, Nate and Holly offer more tips on how you can:

• Be the architect of your financial plans
• Identify the debt that's dragging you down
• Recapture your debt
• Charge yourself interest and profit from it

~ Episode Takeaways:

Get serious about getting out of debt. Make it a desire instead of trying to live off a whim. Actually get a plan.

Banks are the biggest buyers of whole life insurance in the world. Would they buy a product that didn't produce money for them?

Some don't live with a plan. If there's no plan to have money, there never seems to be any money.

Be the architect of your life. The easiest way to do that is to get rid of all those hands in your pocket from the banks.

Start saving money in a policy. Use the policy to take over the debt and start paying yourself exactly what you were paying everyone else.

You can get out of debt much quicker than you thought you could just by simply changing your process and getting serious about it.

Your dollar is just as valuable as any dollar you had borrowed. So you need to charge yourself interest.