Episode 58: IBC and the Psychology of Money - Confounding Compounding

Welcome back to The IBC Guys Podcast!  

Welcome back to the IBC Guys!  In this episode, Dave continues The Psychology of Money through the lens of the Infinite Banking Concept (IBC).  This chapter fits perfectly into the ideology of IBC - have your money work without you while NOT interrupting the compounding growth.  Housel examines how money grows (compounds) over time when it’s left alone, and Dave takes it a step further to examine how a properly structured policy does this very same thing for you!  This episode is a perfect reminder of one of the main reasons getting your money on the ledger and having it grow for decades - uninterrupted - is one of the biggest catalysts in creating legacy wealth.  Don’t miss it!  

Also in this episode, Dave can’t say two words in a row, he admits to not being a Warren Buffet historian, and Dave reads the biggest number ever out on a podcast.  Sit back and enjoy talking about big dollar amounts!

Key takeaway:  “It’s about earning pretty good returns that one can stick with and which can be repeated for the longest period of time.”  - Housel

Resources Mentioned:

[Link HERE] Morgan Housel’s The Psychology of Money

📩 Email: [email protected] | [email protected]

📞 Call: 507-205-2284

📅 Schedule a consultation: https://calendly.com/dave-familybankingsolutions/30min

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Dave’s Facebook: https://www.facebook.com/dave.parmerlee

Dave’s Instagram: https://www.instagram.com/dave_ibcguys/

Dave’s Linkedin: https://www.linkedin.com/in/david-parmerlee-121bb3293/

Mike’s Facebook: https://www.facebook.com/profile.php?id=100090029017545

Mike’s Instagram: https://www.instagram.com/mike_ibcguys/

Mike’s Linkedin: https://www.linkedin.com/in/mike-stevens-962186336/

🔔 Don’t forget to subscribe and leave us a review—it helps us reach more people looking for financial freedom through IBC!

#InfiniteBanking #WealthBuilding #IBCGuys #FinancialFreedom

Episode 57: IBC and 501(c)(3) - with Yvonne Burke

Welcome back to The IBC Guys Podcast!  

Welcome back to the IBC Guys!  In this episode, Dave has the privilege of joining Yvonne Burke in a conversation around how IBC can be used within the context of 501(c)(3)’s - ideas, practical application, and implications.  The duo discusses financial transparency within non-profits, along with their financial responsibility, and the overall pressure 501(c)(3)’s face in stewarding other people’s money.  Yvonne provides practical applications in (1) the players within a policy for a 501(c)(3), (2) five specific options in leveraging a policy within a non-profit, and (3) the biggest hurdle facing people looking to get their first policy.  This is a good episode - buckle up!

Also in this episode, Yvonne knows everyone, we may rename the show, and we reveal the secret on how to give the same dollar to your church note once, but twice.  Excited for you to join us!

Key takeaway:  “It’s not difficult - it’s just different.” Yvonne Burke

Resources Mentioned:

[Link HERE] Morgan Housel’s The Psychology of Money

📩 Email: [email protected] | [email protected]

📞 Call: 507-205-2284

📅 Schedule a consultation: https://calendly.com/dave-familybankingsolutions/30min

📱 Follow us on social media: 

Dave’s Facebook: https://www.facebook.com/dave.parmerlee

Dave’s Instagram: https://www.instagram.com/dave_ibcguys/

Dave’s Linkedin: https://www.linkedin.com/in/david-parmerlee-121bb3293/

Mike’s Facebook: https://www.facebook.com/profile.php?id=100090029017545

Mike’s Instagram: https://www.instagram.com/mike_ibcguys/

Mike’s Linkedin: https://www.linkedin.com/in/mike-stevens-962186336/

🔔 Don’t forget to subscribe and leave us a review—it helps us reach more people looking for financial freedom through IBC!

#InfiniteBanking #WealthBuilding #IBCGuys #FinancialFreedom

Episode 56: Is Scarcity in Business a Man Made Concept?

Welcome back to The IBC Guys Podcast!  

Welcome back to the IBC Guys!  In this episode, Mike and Dave pose a philosophical question: Is the idea of scarcity in business a man made concept?  The guys talk definitions, how we’re taught scarcity, and a better option in how to approach the idea that one doesn’t have enough.  When the idea of business is reframed outside of what we are taught, the idea of scarcity tends to fade away in lieu of what actually exists within the business world.  Listen in to see if you agree with the idea or have thoughts that counter the notion that scarcity in business is a man made concept!

Also in this episode, Mike tells stories from the 1990’s, Dave gets kicked out of the two-comma-club, and Dave interrupts Mike more than he should.  Join us for an episode that works to help reshape thinking within the business world and how IBC fits into. 

Key takeaway: There is a better way than working for 40 years and then retiring.  That is a scarcity mentality.

Resources Mentioned:

[Link HERE] Morgan Housel’s The Psychology of Money

📩 Email: [email protected] | [email protected]

📞 Call: 507-205-2284

📅 Schedule a consultation: https://calendly.com/dave-familybankingsolutions/30min

📱 Follow us on social media: 

Dave’s Facebook: https://www.facebook.com/dave.parmerlee

Dave’s Instagram: https://www.instagram.com/dave_ibcguys/

Dave’s Linkedin: https://www.linkedin.com/in/david-parmerlee-121bb3293/

Mike’s Facebook: https://www.facebook.com/profile.php?id=100090029017545

Mike’s Instagram: https://www.instagram.com/mike_ibcguys/

Mike’s Linkedin: https://www.linkedin.com/in/mike-stevens-962186336/

🔔 Don’t forget to subscribe and leave us a review—it helps us reach more people looking for financial freedom through IBC!

#InfiniteBanking #WealthBuilding #IBCGuys #FinancialFreedom

Episode 54: IBC and the Psychology of Money - Never Enough

Welcome back to The IBC Guys Podcast!  

Welcome back to the IBC Guys!  In this episode, Dave begins exploring how people think about money through the lens of The Psychology of Money by Morgan Housel.  In this chapter, Housel examines the idea of "Keeping up with the Joneses" and its effects on ones’ thinking about money.  Dave then explores the ‘never enough’ mentality through the lens of IBC.

This is a GREAT episode to sit back, reflect, and examine your own ideas about money.  Enjoy!

Key takeaway: “Enough is not too little” -Houser

Resources Mentioned:

[Link HERE] Morgan Housel’s The Psychology of Money

📩 Email: [email protected] | [email protected]

📞 Call: 507-205-2284

📅 Schedule a consultation: https://calendly.com/dave-familybankingsolutions/30min

📱 Follow us on social media: 

Dave’s Facebook: https://www.facebook.com/dave.parmerlee

Dave’s Instagram: https://www.instagram.com/dave_ibcguys/

Dave’s Linkedin: https://www.linkedin.com/in/david-parmerlee-121bb3293/

Mike’s Facebook: https://www.facebook.com/profile.php?id=100090029017545

Mike’s Instagram: https://www.instagram.com/mike_ibcguys/

Mike’s Linkedin: https://www.linkedin.com/in/mike-stevens-962186336/

🔔 Don’t forget to subscribe and leave us a review—it helps us reach more people looking for financial freedom through IBC!

#InfiniteBanking #WealthBuilding #IBCGuys #FinancialFreedom

Episode 54: IBC and the Psychology of Money - Luck and Risk

Welcome back to The IBC Guys Podcast!  

Welcome back to the IBC Guys!  In this episode, Dave continues exploring how people think about money through the lens of The Psychology of Money by Morgan Housel.  In this chapter, Housel examines the roles both luck and risk play within any financial maneuver.  Dave discusses some specific examples, relates Housel’s premise to IBC, and then compares and contrasts Housel’s thinking within the ideology of the Infinite Banking Concept.

Also in this episode, Dave thinks his episodes are cool, he buys silver, and he tries to sound smart by using the word metacognition.  Don’t miss this episode to see how luck/risk fit into the ideology of IBC!

Key takeaway: Both luck and risk play major roles within any financial investment.  Acknowledging this leads to humbleness when things go well and sympathy when they don’t.  IBC helps mitigate both luck and risk when investing.

Resources Mentioned:

[Link HERE] Morgan Housel’s The Psychology of Money

📩 Email: [email protected] | [email protected]

📞 Call: 507-205-2284

📅 Schedule a consultation: https://calendly.com/dave-familybankingsolutions/30min

📱 Follow us on social media: 

Dave’s Facebook: https://www.facebook.com/dave.parmerlee

Dave’s Instagram: https://www.instagram.com/dave_ibcguys/

Dave’s Linkedin: https://www.linkedin.com/in/david-parmerlee-121bb3293/

Mike’s Facebook: https://www.facebook.com/profile.php?id=100090029017545

Mike’s Instagram: https://www.instagram.com/mike_ibcguys/

Mike’s Linkedin: https://www.linkedin.com/in/mike-stevens-962186336/

🔔 Don’t forget to subscribe and leave us a review—it helps us reach more people looking for financial freedom through IBC!

Episode 53: The Psychology of Money - No One is Crazy

Welcome back to The IBC Guys Podcast!  

Welcome back to the IBC Guys!  In this episode, Dave begins exploring how people think about money through the lens of The Psychology of Money by Morgan Housel.  Housel comes out of the gate stating “No One is Crazy.”  How people think about money are shaped by their life experiences and money decisions are often made emotionally rather than rationally should be kept at the forefront when discussing money.  Dave works to explore this thinking and how it relates to the discussion of IBC.

Also in this episode, Dave is too mean to financial advisors, asks for your help in emailing Mike, and he loves Yard Goats!

Key takeaway: “You know stuff about money that I don’t, and vice versa.  You go through life with different beliefs, goals, and forecasts, than I do.  That’s not because one of us is smarter than the other, or has better information.  It’s because we have different lives shaped by different and equally persuasive experiences.”

Resources Mentioned:

[Link HERE] Morgan Housel’s The Psychology of Money

📩 Email: [email protected] | [email protected]

📞 Call: 507-205-2284

📅 Schedule a consultation: https://calendly.com/dave-familybankingsolutions/30min

📱 Follow us on social media: 

Dave’s Facebook: https://www.facebook.com/dave.parmerlee

Dave’s Instagram: https://www.instagram.com/dave_ibcguys/

Dave’s Linkedin: https://www.linkedin.com/in/david-parmerlee-121bb3293/

Mike’s Facebook: https://www.facebook.com/profile.php?id=100090029017545

Mike’s Instagram: https://www.instagram.com/mike_ibcguys/

Mike’s Linkedin: https://www.linkedin.com/in/mike-stevens-962186336/

🔔 Don’t forget to subscribe and leave us a review—it helps us reach more people looking for financial freedom through IBC!

#InfiniteBanking #WealthBuilding #IBCGuys #FinancialFreedom

Episode 52: The Unconference and IBC’s Place

Welcome back to The IBC Guys Podcast!  

In this episode of The IBC Guys, Dave attended an invitation-only conference where he was able to talk about IBC with high-level entrepreneurs.  Some people had never heard of IBC, others had secured and were using their own policies, and others had a less than positive view of IBC.  As Dave talked with those in that last category, he remembered and then recorded their reactions to IBC, all for this episode!

This week’s episode focuses on six (6) less than positive reactions to IBC and, then, Dave’s interpretation of those reactions.  Based on Dave’s experience, he makes some educated guesses as to how their thoughts around IBC were shaped, knowing that you may have some of those same thoughts.  Sit back, listen, and please use this episode to help evaluate your own IBC journey! 

Also in this week’s episode, Dave says the same word over and over, he is in way over his head, and Dave wants your thoughts!  Thanks for listening!

Key takeaway: Negative perceptions of IBC usually stem from (1) a lack of education or (2) an agent that builds a policy with their own best interest in mind, not the client’s.

Resources Mentioned:

[Link HERE] Ramit Sethi’s “I Will Teach You to be Rich” 

📩 Email: [email protected] | [email protected]

📞 Call: 507-205-2284

📅 Schedule a consultation: https://calendly.com/dave-familybankingsolutions/30min

📱 Follow us on social media: 

Dave’s Facebook: https://www.facebook.com/dave.parmerlee

Dave’s Instagram: https://www.instagram.com/dave_ibcguys/

Dave’s Linkedin: https://www.linkedin.com/in/david-parmerlee-121bb3293/

Mike’s Facebook: https://www.facebook.com/profile.php?id=100090029017545

Mike’s Instagram: https://www.instagram.com/mike_ibcguys/

Mike’s Linkedin: https://www.linkedin.com/in/mike-stevens-962186336/

🔔 Don’t forget to subscribe and leave us a review—it helps us reach more people looking for financial freedom through IBC!

#InfiniteBanking #WealthBuilding #IBCGuys #FinancialFreedom

Episode 51: Teach You to Be Rich - The Myth of Financial Expertise

Welcome back to The IBC Guys Podcast!  

In this episode of The IBC Guys, Dave continues the mini-series titled “Teach You to Be Rich.”  Using Ramit Sethi’s book I Will Teach You to Be Rich as a platform, Dave tackles Chapter 6 titled “The Myth of Financial Expertise.”  

The book is a great one, but has one major flaw - it doesn’t address the Infinite Banking Concept.  The goal of this mini-series is to work through Mr. Sethi’s book a chapter at a time through the lens of the Infinite Banking Concept.

This week’s episode focuses on so called financial experts and their role within the systems that build wealth.  Mr. Sethi believes that ‘experts’ are often incorrect and can hide behind discussions that are more complex than the average person can understand.  Dave agrees with that premise and works to find IBC’s role within a financial system using that same premise.

Also in this week’s episode, Dave needs to ride a backwards bike, he is grateful for you, and he doesn’t like looking at himself as he records podcasts.  Join Dave for another great episode within this mini-series!

Key takeaway: Sethi argues that one doesn’t need financial expertise to get rich—just a simple, automated system that minimizes costs, avoids emotional decisions, and runs consistently over time. Dave adds that IBC provides a foundation that makes that system financially bulletproof.

Resources Mentioned:

[Link HERE] Ramit Sethi’s “I Will Teach You to be Rich” 

📩 Email: [email protected] | [email protected]

📞 Call: 507-205-2284

📅 Schedule a consultation: https://calendly.com/dave-familybankingsolutions/30min

📱 Follow us on social media: 

Dave’s Facebook: https://www.facebook.com/dave.parmerlee

Dave’s Instagram: https://www.instagram.com/dave_ibcguys/

Dave’s Linkedin: https://www.linkedin.com/in/david-parmerlee-121bb3293/

Mike’s Facebook: https://www.facebook.com/profile.php?id=100090029017545

Mike’s Instagram: https://www.instagram.com/mike_ibcguys/

Mike’s Linkedin: https://www.linkedin.com/in/mike-stevens-962186336/

🔔 Don’t forget to subscribe and leave us a review—it helps us reach more people looking for financial freedom through IBC!

#InfiniteBanking #WealthBuilding #IBCGuys #FinancialFreedom

Episode 50: A Better Question - A Question IBC Doesn’t Ask but Helps Answer 

Welcome back to The IBC Guys Podcast!  

In this episode of The IBC Guys, Dave and Tim ask a better question.  Often, when people feel as though they don’t know enough about a given topic, they don’t feel as though they know what question(s) to ask.  Dave and Tim present a question that often doesn’t get asked:

As the IBC Guys have gone through this mini-series Teach You to Be Rich, an assumption is made - that one knows where their money should stay while they’re deciding what to do with it.  In this episode, Dave and Tim don’t make that assumption.  They discuss the options for where money should stay when it’s not being used and then, provide an answer for the questions through the lens of the Infinite Banking Concept.

Also in this episode, Tim talks some sense into Dave, Stanley is a cuddle buddy,and Tim has groupies.  Join us for a great discussion on where money should lay when it is not actively being used.

Resources Mentioned:

[Link HERE] Ramit Sethi’s “I Will Teach You to be Rich” 

Tim’s Email: [email protected]

📩 Email: [email protected] | [email protected]

📞 Call: 507-205-2284

📅 Schedule a consultation: https://calendly.com/dave-familybankingsolutions/30min

📱 Follow us on social media: 

Dave’s Facebook: https://www.facebook.com/dave.parmerlee

Dave’s Instagram: https://www.instagram.com/dave_ibcguys/

Dave’s Linkedin: https://www.linkedin.com/in/david-parmerlee-121bb3293/

Mike’s Facebook: https://www.facebook.com/profile.php?id=100090029017545

Mike’s Instagram: https://www.instagram.com/mike_ibcguys/

Mike’s Linkedin: https://www.linkedin.com/in/mike-stevens-962186336/

🔔 Don’t forget to subscribe and leave us a review—it helps us reach more people looking for financial freedom through IBC!

#InfiniteBanking #WealthBuilding #IBCGuys #FinancialFreedom

Episode 49: Teach You to Be Rich - Conscious Spending (Chp. 4)

Welcome back to The IBC Guys Podcast!  

In this episode of The IBC Guys, Dave continues the mini-series titled “Teach You to Be Rich (?).”  Using Ramit Sethi’s book I Will Teach You to Be Rich as a comparison, Dave tackles Chapter 4 which is titled “Conscious Spending.”  

The book is a great one, but has one major flaw - it doesn’t address the Infinite Banking Concept.  The goal of this mini-series is to work through Mr. Sethi’s book a chapter at a time through the lens of the Infinite Banking Concept.

This week’s episode focuses on being purposeful on how one spends their money.  Mr. Sethi suggests 4 categories in which to define and establish one’s values.  Those categories are (1) Fixed Costs, (2) Investments, (3) Savings, and (4) Guilt-Free Spending.  Dave discusses these four main categories and explores the following:  Did Mr. Sethi miss anything?  Can IBC fit into this framework?  If so, how?  Can IBC help expand on Mr. Sethi’s framework?

Also in this week’s episode, Dave’s boy rides his hoverboard by the office, he uses tv shows as analogies, and Dave gets help from two special guests!  Don’t miss this episode!

Key takeaway: “Conscious Spending helps one live rich today.  Infinite Banking helps one live rich tomorrow—without sacrificing today.”

Resources Mentioned:

[Link HERE] Ramit Sethi’s “I Will Teach You to be Rich” 

📩 Email: [email protected] | [email protected]

📞 Call: 507-205-2284

📅 Schedule a consultation: https://calendly.com/dave-familybankingsolutions/30min

📱 Follow us on social media: 

Dave’s Facebook: https://www.facebook.com/dave.parmerlee

Dave’s Instagram: https://www.instagram.com/dave_ibcguys/

Dave’s Linkedin: https://www.linkedin.com/in/david-parmerlee-121bb3293/

Mike’s Facebook: https://www.facebook.com/profile.php?id=100090029017545

Mike’s Instagram: https://www.instagram.com/mike_ibcguys/

Mike’s Linkedin: https://www.linkedin.com/in/mike-stevens-962186336/

🔔 Don’t forget to subscribe and leave us a review—it helps us reach more people looking for financial freedom through IBC!

#InfiniteBanking #WealthBuilding #IBCGuys #FinancialFreedom