These are just a few of the benefits associated with infinite banking, which is the process of using a dividend-paying whole life insurance policy as your own personal bank.
And it works.
Infinite banking has been called the most efficient and effective way to use your own money to build wealth. It's been referred to as one of the best ways to pass on your wealth to family members, loved ones and charitable causes. It's been called a better way to bank, a path to financial freedom and a money-managing technique that needs to be taught in school.
But is it right for you?
Infinite banking isn't for everyone. It takes a certain kind of person to grab the financial bull by the horns and wrestle control away from it.
Do you have what it takes? Keep reading to find out.
Being your own banker comes with benefits that are both tangible and intangible.
The tangible include easy access to your money, tax-free loans and growth, and dividend payments that help you break free from banks. The intangible benefits include peace of mind, knowledge that you are making smart financial decisions and hope for a brighter financial future for you and your loved one.
Likewise, the traits that allow people to successfully become their own bankers are both tangible and intangible – and the intangible are what will determine whether you are ready to begin practicing infinite banking.
This is because nearly anyone can achieve the tangible:
See? Simple. Nearly anyone can get a whole-life insurance policy, pay into it and aspire to make a major purchase or two.
However, not everyone can achieve the intangible traits needed to be his or her own banker:
These are the traits it takes to succeed with infinite banking. They are also the traits that most Americans possess. Unfortunately, they are usually subjugated by financial planners and advisers who do not want to cede control (and the guaranteed payments from clients that come with it) to the people who hire them.
If you have what it takes to be your own banker and practice infinite banking – or if you simply want to learn more about the benefits and the practice – connect with McGriff to discuss your options.
You and your family will be glad you did.