Without the Bank Podcast

Many think they understand IBC and then ask questions that indicate they have missed then entire concept. Let's talk about what this means.

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What if I gave you a dollar in exchange for .50 cents, income tax free? Would you go grow quarters? This is exactly what the life insurance company does when you buy death benefit, and yet so many folks do not understand. Leave generational wealth for your family, use it to help with lost income from care, etc. The ideas are infinite.

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We love the idea of having control of our money and not answering to the bank, but we then end up not knowing what to do. When you become the banker, you have to make your own payback terms; you have to put on your banker hat. When you sign your policy documents, you have, at that moment, become a business owner of a bank! Get ready: you have all the control.

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Stop spreading yourself so thin just because you can do it all. Your business will run smoother and you'll make more money when you focus.

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IBC provides the solutions for needing liquidity, control, and guarantees. That is not provided in a traditional banking setting.

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It boils down to liquidity, control, and guarantees. While the market fell hard this week, it proves IBC is the answer for those three things. The concept is far more important to understand the problem so you can understand the solution.

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What do you pay first if you can't afford both? Well, that depends on many things! Hang in there with me on this podcast; it can get a bit confusing.

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Don't always get your feelings hurt when the bank says no. Sit back, look at why they are doing that, and use it to your advantage. They may just be saving your butt.

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Always be prepared to have cashflow or low debt in the good times. Things always change, and you don't want to be in a situation where you are caught owing money and have no cashflow coming in.

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Be careful when asking others for their opinions when you are an expert on a matter. Knowledge is one thing if it's gained from due diligence; it's another when it's repeated without good sources.

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