Afleveringen
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Youâve heard of Nelson Nash, but you havenât read his classic book yet. Or youâve read it, but itâs been awhile. Either way, Iâve got you covered as we look at some of the biggest ideas from Becoming Your Own Banker.
In this episode weâll start with his very first page of writing. Youâll see what the banks have figured out, and why learning it for yourself can change your life and your net worth.
Listen now!
Show highlights include:
Why Nelson Nashâs book should still be first on your list instead of newer works on IBC. (1:25) â97-3-10 Ruleâ of wealth accumulation that should shock you out of complacency with your personal finances. (3:17) Two businesses every businessman should be in if they really want financial freedom. (4:15) Surprising similarity between money and water. Understand this and you can win big with your finances. (4:33) Legal way banks use your own money to keep you broke while they thrive. (6:23) The two questions you must answer when wondering if IBC is right for you. (8:17)Reach out to me:
[email protected]
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com) -
You know enough about Infinite Banking to know you can use a Whole Life policy to effectively make loans to yourself. But youâve also heard critics say it takes a long time before you can get access to the funds.
In this episode, Iâll cut through the confusion to give you a realistic picture of just how soon youâll have access to funds you can borrow against. Iâll also share why, with some companies, you can now access funds sooner than ever before.
Listen now!
Show highlights include:
Critics say it takes forever to access funds in your whole life account. Hereâs how to do it in weeks, not years. (1:06) Paying monthly premiums? Hereâs how long you should wait to borrow against that account. (3:38) Powerful tool helps you knock out debts while only tapping your account once per year. (3:58) The friendly employee your bank has, but the insurance company doesnât. And the surprising reason the financially savvy want to keep it that way. (4:55) Really want to borrow against your plan right away? Hereâs how to do it with enough cash value to avoid long waits. (6:36) Using your checking or savings account to hold a big down payment on a house? Where you could put that money instead so it works harder and more efficiently for you. (7:18) How the Paid Up Additions rider works so efficiently, and what to look for so you donât get surprised when itâs time to move your money. (8:30)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509Infinite Banking Mastery (infinitebankingnorthwest.com)
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Zijn er afleveringen die ontbreken?
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There are different reasons people think Infinite Banking couldnât work for them. But the most common concerns are age, health, and income.
If youâve ever wondered âAm I too old?â or âDo I have enough money?â or âWill my high blood pressure get in the way?â this is your episode!
Iâll explain what factors are most important to qualify for the whole life coverage you need for efficient Infinite Banking. And Iâll share strategies you can use to get this coverage even if your health isnât as good as it used to be.
Listen now!
Show highlights include:
Your biggest concerns about your ability to get coverage arenât really the biggest concerns. The single factor that trumps both your age and your income. (0:45) Want to insure a relative? Itâs possible, but not always as easy as you think. (0:56) âNo riskâ way to consider underwriting even if you have common health issues like high blood pressure or high cholesterol. (2:05) The practical reason to be completely honest filling out paperwork about medical conditions. (2:37) âBig pictureâ view of insurance ratings and how the different rate classes affect Infinite Banking. (4:16) Rating class too low for a whole life policy that works great with IBC? Do this immediately. (5:02) Waiting until your health improves before you get coverage could be the biggest mistake of your life. Hereâs what to do instead. (5:48) Why a lower health rating doesnât drive up IBC costs as high as you think. (9:32) Definitive answer to the age-old question: âCan IBC really work for me?â (10:58)Reach out to me:
[email protected]
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com) -
When a couple comes to me with one income earner and a âstay at homeâ spouse, they usually think they should only insure the one earning the income.
But this is a perilous decision that leaves you exposed to financial vulnerabilities that are hiding in your blind spot.
In this episode, Iâll shine a light on those dangers, and show you how you can get the coverage you need even if you think itâs currently beyond your ability.
Listen now!
Show highlights include:
âHiding in plain sightâ reason breadwinners miscalculate how much coverage their spouse needs. (1:29) Dark way your emotions betray you in IBC planning. (6:30) Why all the benefits of IBC canât save you if you refuse to be honest about your insurance needs. (7:55) Strategic way to use term life to cover your spouse if whole life isnât an option. (9:00) Secret reason the ultra-rich put whole life coverage on their stay-at-home spouse, even though they donât need the death benefit. (11:52)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509Infinite Banking Mastery (infinitebankingnorthwest.com)
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You know IBC is flexible enough to utilize for all sorts of financial plans. And if you plan to use your banking system to help you finance things like cars or college you might be wondering: âShould I have different policies for different uses, or is it fine to do everything I want from one policy?â
Itâs a great question, and in this episode, youâll hear why the answer largely depends on where you are in your IBC journey, and what you want to accomplish.
Iâll also explain when one Whole Life policy is enough, and when you should have several.
Listen now!
Show highlights include:
Why itâs better to start IBC as high as your budget will allow instead of starting lower and increasing later. (1:18) Dangerous thing some Whole Life companies allow that could destroy your IBC system. Especially if you donât read your mail every day. (2:20) âIrreplaceableâ asset you lose forever by starting small to test out IBC. (4:50) Surprising ways to make arrangements for yourself and your family, even if you canât afford a plan for every family member right now. (6:50) What Infinite Banking can do for your young scholar that a college savings plan canât. (9:12) How multiple policies can save you from accounting nightmares, especially if you donât like keeping close track of everything yourself. (10:35)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509Infinite Banking Mastery (infinitebankingnorthwest.com)
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Youâve heard about the flexibility Infinite Banking provides, but you might be wondering: Can I pull income from my IBC plan in my retirement?
The short answer is a resounding âYes!â
But there are a few things youâve got to keep in mind before you rush to take out funds.
Thatâs why in this episode Iâll explain how it works, and what to watch out for so you donât make a very expensive mistake.
Listen now!
Show highlights include:
Whatâs the difference between building a policy in a more traditional way vs. building for IBC. (2:00) Will Dave Ramsey ever like Whole Life insurance? Why Valerie thinks heâd never admit it, even if he secretly changed his mind. (6:00) âShould I go for a low base premium?â Why this trend is a choice youâll regret. (8:06) How to balance your policy so you arenât low on cash when you need it the most. (9:51) A whole life contract you donât have to pay premiums on for your whole life? Itâs possible! Details here. (10:32) Why the strategy for repaying loans to yourself changes once you hit retirement. (11:32) Two lurking dangers waiting to ruin you if you donât structure how you borrow against your policy. (12:20) What a policy lapse is, and why itâs especially bad if youâre in retirement age. (15:04) 10 years away from retirement. Is it too late to prepare? Valerieâs answer. (15:42)Reach out to me:
[email protected]
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com) -
With traditional methods, you can do one of two things with your money: Spend it, or save it.
If you spend it, that moneyâs gone and canât be used for anything else. And since youâve spent it, it canât appreciate for you: meaning you miss out on more than just the face value you spent.
Thatâs why itâs important to think about opportunity cost: the dollars you really miss out on when you have to spend your resources instead of saving or investing them.
In this episode Iâll explain exactly what I mean by this. Iâll also share how IBC can safeguard you from squandering a fortune in opportunity costs.
Listen now!
Show highlights include:
How IBC lets you âhave your cake and eat it tooâ with your money. (2:57) What is âopportunity costâ anyway? Crystal clear definition to eliminate confusion. (3:03) Sneaky way car payments keep you broke, even if theyâre well within your budget. (3:52) How to spend today without compromising your savings for tomorrow. (8:17)Reach out to me:
[email protected]
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com) -
By now you know your most valuable asset is your ability to earn an income. And you realize you can use disability insurance to protect yourself against absolute financial disaster.
But you might still be thinking that common thought: âOther people get hurt, sick, or disabled, but thatâs not going to happen to me.â
In this episode Iâm sharing real life examples so you can see that real, ordinary people do end up needing this coverage. And why even though there are limits, disability coverage provides a whole lot better than nothing in the event you do need those benefits.
Listen now!
Show highlights include:
Jarring reminder of how quickly your world can unravel from disability. IF you arenât prepared. (1:38) What a fancy yacht can teach you about disability insurance. (3:09) How to navigate a gap in your companyâs coverage so you arenât caught unguarded if you get sick or injured. (5:10) How an individual plan can keep COBRA from squeezing your savings. (6:22) Surprising real life disability claims prove unexpected things happen even if your job isnât dangerous. (8:23) Didnât know it covered that? Arthritis, asthma, and other common ailments that can be covered by disability insurance. (10:12) They didnât think they needed coverage. Heartbreaking account of âI donât need itâ turning into âI wish I had it.â (10:58) Why you could still qualify for disability payments even if youâre able to work a different job. (12:10)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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Your most valuable asset is your ability to earn an income. But the majority of Americans do little to protect it.
This is alarming because nearly â will suffer a disability sometime in their career that forces them out of work for at least three months. And itâs not just people with tough jobs like building bridges or mining coal.
If youâre one of those under-prepared Americans, donât panic just yetâŠ
Because in this episode Iâll explain how you can protect yourself against a disability that would obliterate your finances.
Listen now!
Show highlights include:
Four dangerous myths that stop people from buying critical coverage. (1:43) The surprising survey that says half of working Americans are just a few weeks away from financial ruin. (2:24) Why you donât have to work in a dangerous industry to be at risk of disability. (3:17) Long term disability coverage wonât cover something you already have? Hereâs why to get the coverage anyway. (4:19) How a comfortable desk job makes you a prime candidate for long term disability coverage. (5:00) Think Uncle Sam will take care of you if youâre disabled? (5:27) Why trusting your companyâs disability plan could let you down when you need it most. And complicate your taxes! (7:31) Questions to ask Human Resources to know for sure your companyâs disability coverage is right. (7:52) When short term disability coverage actually lasts long enough. (9:20)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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Youâve heard the conventional wisdom: âSave 10% for your future self.â But different experts say different thingsâŠ10%, 20%...whoâs right? And what if your expenses are so high you think you canât save anything?
This is the episode for you if youâve been wondering about how much to save toward retirement. Iâll explain why there isnât a âcookie cutterâ answer, and what to consider as you make your own decision.
Iâll also share surprising pitfalls you need to watch out for so your assets donât get plundered.
Listen now!
Show highlights include:
Why itâs impossible to put a percentage on how much you should save for the future. (1:25) Overlooked expenses that leave retirees struggling to keep their houseâeven though itâs paid off. (2:09) Tax manâs 1-2 punch waiting for you in retirement. Know now so you wonât get sucker punched! (3:34) Heartbreaking way assisted living needs can expose your assets like a carcass in the desertâŠand the vultures waiting to pick it clean. (5:30) How to use IBC to protect yourself in your retirement years. (9:30)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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You like the idea of IBC, but youâre wondering if you really have the money it takes to get started.
Youâre not alone! Itâs normal for clients to wonder if they can really afford this, and how much they need to get started. Thatâs why in todayâs episode Iâm going to help you understand why I advise the funding levels that I do.
Iâll also explain why your exact number wonât be the same as somebody elseâs, and why thatâs a good thing!
Listen now!
Show highlights include:
Counterintuitive reason you should always aim for the high end of your budget range. (1:14) The one question you need to ask to know the right level for you. (1:25) What IBC rookies misunderstand about borrowing and the death benefit. (2:11) What a coffee stand can teach you about IBC. (3:25) Tight budget? Try looking in these places to find the funds you need for your premium. (7:19) Unexpected (and costly) headaches if you try to go UP in premium after youâve started your policy. (9:11) How to use term life insurance to maximize IBCâŠand you wonât need any extra underwriting! (10:43)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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One of the things we love about IBC is that you can set up a system to BYOBââBe Your Own Bankerâ and essentially borrow money âfrom yourselfââŠat far lower rates than conventional banks offer.
And while repaying these loans comes with LOTS of flexibility, for best results you do want to get them repaid.
Thatâs why today Iâm talking about ways to do that without burdening yourself with payments, and without giving yourself an accounting nightmare.
Iâll also share an additional option that lets you leverage your existing bank account to repay your loans in a timely and effective way.
Listen now!
Show highlights include:
Amazing flexibility that comes with borrowing from yourself. Especially great if most of your bills all come due at the same time each month (2:30) The one new bank account you may want to acquire for clearer accounting. (3:10) Questions you need to answer when determining how to pay yourself back. (3:45) Itâs possible, at this time, to acquire a whole life policy that only charges you 4% interest on loans. Hereâs why you should pay yourself back at a higher rate. (4:33) Paid back your loan? Your options for what to do next, explained. (5:45) How to leverage your bankâs âbill payâ feature to put IBCâs loan repayments on autopilot. (6:47) Important thing to keep in mind regarding your bankâs bill pay option. (9:20) âExactingâ way a good agent can help you optimize your loan repayment plan. (10:15) The two big âNo Nosâ of borrowing from yourself. (13:02)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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Every now and then Iâm asked if churches can use Infinite Banking. And I wish more churches would ask, because the answer is âYes!â
If youâre in church leadership, or just a member of a congregation you care about, then this episode is for you. Iâll explain why IBC is a great option for churches who want to use their financial blessings wisely. And Iâll tell you why IBC makes more sense than a savings account or CD with the bank.
Listen now!
Show highlights include:
Why Uncle Sam lets policies built for churches be even better than policies for individuals. (1:10) Bank products have their highest interest in years. But hereâs why churches should choose IBC instead of getting swept away by the current rates. (2:47) Risky thing, I donât believe churches should do with their money. (4:20) Who should the church insure? Surprising reason staff members aren't always the best option. And where they could look instead. (4:45) How churches leverage IBC to keep their preacher from being dependent on social security after a lifetime of faithful service. (6:50)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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You owe the US Government $519,000.
What? How?
Well, as a nation, we owe over $31 trillion owed in funded liabilities (debt.) And we also owe over $173 trillion in unfunded liabilities (even more debt.)
Worst part?
According to David Walker, ex-CPA of the USA, your future tax rate will need to double â or else the nation will declare bankruptcy.
Imagine paying double the taxes you already pay. With taxes projected to double, trying to build a nest egg will be impossible. Imagine what your retirement would look like if the government legally takes nearly half of your salary (or your retirement income).
In today's episode, I reveal two ways to build tax free wealth.
Listen now!
Show Highlights Include:
Excited to get a lower tax rate when you retire? Hereâs why you could be stuck paying a tax rate of 74% at 80 (5:21) How to avoid an insidious âtaxâ that penalizes you 50% for saving money in your nest egg (9:00) 2 tax-free savings vehicles you can access in retirement (10:18) Is your income too high for a Roth IRA? If so, check out âCVLIâ as an alternative (and pay no taxes on your savings) (10:32)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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Itâs great to have a whole life insurance policy for each member of your family. But what do you do when your budget simply wonât allow it?
In this episode weâre talking about how to do the best you can with the resources you have so you can provide for your children.
Youâll learn what a Child Rider is and why itâs a great option for most people who have financial constraints.
Iâll also share why the first month after your child turns 25 is a golden opportunity that can help them for the rest of their lives.
Listen now!
Show highlights include:
Why having a favorite child can get you in hot water with life insurance underwriters. (1:06) How to affordably cover all your children, even if you have enough for a basketball starting lineup. (2:49) âKnow before you go.â Avoid surprises in underwriting by knowing these extra steps needed to add a child rider. (8:35) Canât insure everybody? Why covering yourself first is the best move for your familyâs legacy. (10:53)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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The death benefit isnât the primary concern for most people who use Whole Life Insurance for Infinite Banking. But itâs still important!
In this episode Iâll explain why you cannot afford to overlook what a benefit it is.
Iâll also share a true story that illustrates why, in some cases, the death benefit is the most important part of the legacy you leave behind.
Listen now!
Show highlights include:
âImmediate reliefâ your death benefit provides in case of a long term care need. (2:29) What happens if you pass away within 2 years of acquiring life insurance. (5:17) Unexpected reason term life insurance becomes a secret weapon to protect your loved ones. (7:40) âOptimisticâ thinking that dooms your loved ones to misery and struggle when you die. (8:04) Stunning true story reveals flexibility and benefits of whole life insurance. (10:18)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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Everybody who understands Infinite Banking wishes they had known about it sooner. So itâs no wonder many of them ask: âAm I too old to start?â
I get this question a lot.
So if youâre concerned youâve missed your chance to use IBC this episode is for you. Iâll explain why in most cases itâs not too late, even if youâre already at retirement age!
Plus, Iâll explain your options for those rare cases when age really does get in the way of starting an IBC strategy that meets your goals.
Listen now!
Show highlights include:
Surprising age when Valerieâs father started IBC. Still think itâs too late for you? (0:51) Why starting sooner than later has its advantages, but doesnât mean youâre sunk if youâre late to the game. (2:17) âLegacy Factorâ that makes IBC worth it for retirees, even if theyâre just starting. (4:29) The knowledge trap smart people fall into that derails their financial planning. (4:41) Crucial thing to know about your adviser thatâs more important for your success than everything you know about IBC. (6:18) Want to gift your grandchildren with IBC? Know these hurdles before you start. (8:00)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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Youâve come into a big lump sum of cash, and youâre already using Infinite Banking. Naturally you wonder: âIs there some way I can use these funds to help my system?â
Yes! You certainly can. And in this episode Iâll explain your three best options, and why two of them are usually better than the other.
In the interest of full disclosure Iâll also share a fourth option. Itâs NOT the best idea in most cases, but Iâll tell you why it makes sense sometimes.
Listen now!
Show highlights include:
The first place to look if you have a lump sum and want to use it toward your existing IBC. (1:04) Surprising reason why paying extra now could cost you a lot more later. (2:30) Critical questions you need to ask before using a lump sum to establish more whole life policies. (5:00) âPremiumâ rule for growing your banking system, and how to leverage it in your favor. (6:25)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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Youâve just come into a big lump sum of cash, and youâre ready to get started with Infinite Banking.
Is it best to put it all into your banking system right away, or is there a better approach?
In this episode Iâll share why it usually isnât best to put an entire lump sum into a new banking system. Iâll also explain an option on how to get that entire lump sum into your IBC over time, without spending that excess money on other things in the meantime.
Listen now!
Show highlights include:
Troubling âdomino effectâ set off by overfunding your system at the beginning. Why the last domino could be an expensive visit from Uncle Sam. (1:15) One suspicious thing new IBC clients do that always alarms the underwriter. (5:30) How to find the âsweet spotâ for spreading out a lump sum. (8:21) The real lynchpin in a policy started by lump sum dollars. Hint: it isnât how much you put in today. (9:20) Components of a sustainable IBC strategy, and why it isnât as easy to put together as you think. (10:00) Clever way your insurance company can help your lump sum do its job over time without risk youâll spend the money on something else instead. (11:30)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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Thereâs been a lot of buzz around Universal Life Insurance policies. Mostly because they offer great flexibility in their premiums, and they sound great at first glance.
So you might be wondering: is this a better way to do infinite banking?
Thatâs what Iâm talking about today on the podcast. Iâll explain what Universal Life Insurance is, and why there are several types. And Iâll tell you why I still believe whole life insurance is the way to go.
Plus, if youâve got term life insurance youâre hoping to convert to whole life in the future: Iâll share something you need to look out for.
Listen now!
Show highlights include:
Sneaky reason insurance companies keep introducing new Universal Life policies. (1:47) How clients with Universal Life policies often end up with no cash value in their policy. And why itâs more common than you think. (3:30) Term life insurance premiums can double, triple, or more from one term to the next. Hereâs what to do if it happens to you. (5:12) You can have a whole life policy and only pay for 10 years. But should you? What to consider before deciding. (10:00) Nelson Nashâs guiding principle that lets you use IBC even if you never have a bank account or insurance policy. (11:36) Shocking details lurking inside universal life policies. Great for the insurance company, but is it good for you? (12:17) What the TikTok influencers arenât telling you about universal life. (13:54)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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