Infinite Banking Simplified | Explain the IBC To A 10 Year Old

Infinite Banking is made more complicated than it needs to be. Infinite Banking can be misleading and there are a lot of people talking about how you can get rich using Infinite Banking. In this video, Chris breaks down the difference between a whole life insurance policy that is properly designed and Infinite Banking.

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📖 Chapter Timestamps Here ⏰
0:00 Intro to The Infinite Banking Concept Simplified
1:30 Infinite Banking Is More Than A Whole Life Insurance Policy
3:15 Focus On Financial Efficiency
5:05 Dave Ramsey vs Average In Debt American
6:15 The Problems With Using Debt
8:20 The Problem With Paying Cash For Everything (Dave Ramsey)
11:00 Understand Opportunity Cost To Make Better Financial Decisions
13:40 When Does A Whole Life Insurance Policy Become Infinite Banking?
16:00 You Won't Get Rich Buying Cars
18:00 Cashflow Hacking is Using Infinite Banking to Buy Cash Flow Assets
20:00 Learn How to Design Infinite Banking Policies

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VALUABLE CONTENT TO CONTINUE THE EDUCATIONAL JOURNEY:

How To Properly Structure A Whole Life Policy

Indexed Universal Life vs Whole Life - Which is Better

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🤔 ABOUT LIFE180 😃
Chris Kirkpatrick launched LIFE180 as a solution to a problem. As the director of business development for a Fortune 1000 life insurance / broker dealer, he became disenchanted with the financial industry because of the lack of education provided to clients and how "financial advisors" were really just glorified sales people.

So... LIFE180 was launched to help give relevant financial education for people to create wealth. Along the journey, LIFE180 has evolved. Chris quickly realized he was passionate about not just helping entrepreneurs on how to leverage their money, but how to build their businesses.

Over the past 5 years, Chris has spent thousands of hours mastering the art of online business development for himself and clients. In 2020, LIFE180 morphed into a full service online business launch and development agency. If you need any help creating more revenue or generating more leads online, LIFE180 can help.

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*All content in this video is for educational purposes only and is not to be interpreted as personal financial advice.

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[NaturaLaii]

Get a whole life policy. Buy a cash flowing asset with the money you BORROW from the policy (assets like real estate, vending machine, cars for Turo, etc.). Pay your policy premium every month or year, depending on which you chose. Rinse and repeat.

Is that right ?

So, the only question we need now is how do we structure the policy for infinite banking?

No one on YouTube actually explains that gem. I’m open to feedback. 😊

[MystyreNiggma]

Great video! Dont understand the obsession with using IUL's when WL is more simple and can do the same thong for IB

[yellowcolt]

Do you have a video about how doing loans via this concept can help you? I don't understand how that works to one's benefit when you're paying insurance company 5% interest

[andyzumwalt]

As a small first generation farmer can this be used like a annual operation loan. Im looking for the opportunity to buy cattle on a 6 month to two year period, depending on best value at the time. Which gives a pretty good return when i have the feed and grazing on hand? Many operating loans don't cover the time frame opportunities i have had recently.

[jingles]

So, take out a loan with WL to pay rest of mortgage. Than save off of the interest you would of paid and apply it back to your loan within your policy? Or any other potential asset essentially? I'll do the text and followed. Interested in this concept, thanks

[RaeOSun]

hey do you have a video on how to start credit for young adults? If so what is it called?

[tobydobo]

Is there a list of insurance providers you would recommend to structure a policy to get started?

[AleParkhomenko]

Maybe a 10yo can understand this but I’m 30yo and in 17 min of video I got 0 knowledge of how infinite banking works.

I guess you should learn form Char GPT — less worlds and more on point.

[Estates]

Great video!! As always!! Question. What if you get a $1M windfall. How would this get put into your system, and what cash flow would it create immediately... Thanks!!

[jsbrown]

Could you use an IUL instead of a whole life policy to implement infinite banking?

[bvnqzzb]

Good evening. I recently attended a money seminar presented by PHP. At the end, I was presented with getting started to own my business for $199.00. I do not have a background in insurance, however I have also had an interest in learning about money. After coming across your youtube videos, I am having second thoughts. What advice can you give me in order to make my final decision. Thank you,

[cathychen]

Where can I buy the whole life policy with a high guaranteed rate?

[shoshanas]

Can you help someone in Canada or your team only assists people within the US?

[kurtbradwill]

I watched this and have no idea what was just said. I need this explained like I’m a 4 year old…how are you getting money from a WL policy?

[ebrionez]

Can premiums be monthly instead of annual?

[bennyacosta]

Does putting money into your policy? Reduce your taxable income?

[tony]

Have no idea why I watched this whole thing.

[xo]

Would I be correct to say I’d need more money than a college student earnings to start?

[uly]

I'm going on 67, still working, and plan to retire in 4-5 years. Is this still a viable option for someone in their mid to late 60s, considering a WL policy is through the roof for folks my age? Thanks.