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Dollars and Nonsense

Dollars and Nonsense focuses on helping individuals and families find financial freedom by leveraging the Infinite Banking Concept. The podcast delivers real-world tips, tricks, and techniques for anyone wanting to take their wealth to the next level. We do all this through the hosts sharing their vast knowledge and sitting down with experts. Plus, the show is for the average person—you don’t have to be a financial expert or an economics professor to get a metric ton out of every episode. We extract priceless resources and action steps for you and deliver them in a 30-minute bi-monthly show. Learn more about the show by visiting https://livingwealth.com/podcast/ Infinite banking is a financial strategy, sometimes called IBC, or the infinite banking concept, that allows you to control your savings and debt needs, helping you become your own banker, in essence. It was formalized by finance expert R. Nelson Nash in the early 1980s. But its roots go back much further.
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Now displaying: October, 2017
Oct 30, 2017

In this episode, we'll discuss how you could easily make over $100,000 throughout your working lifetime by just changing where you hold your emergency money of all things.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e28/

Emergency funds are crucial to buttressing and protecting our financial life from unexpected catastrophes. But they're not always given the attention they should receive. And, when people do have them in place, they tend to actually lose money unknowingly.

We run into this a lot, where we're teaching people how to use a policy to be their own banker and make a lot more money. But for some reason, there's a mental block, which keeps them from seeing their policy as a bank. They still see a bank account as a bank and a policy as something different. Nothing makes that clearer than when people talk to us about their emergency fund and how they would never want to move that into a policy or something like that.

Today we're going to talk about emergency funds. How to use your policy as your emergency fund, how much more money you could be making with that, and really how a policy has all the characteristics that you would look for in a really great emergency fund.

Emergency Money Episode Topics:

  • What is an emergency fund
  • Why should everyone have one
  • Penalties and taxes for using money from your Roth or 401K in an emergency
  • Stepping outside the "bank box"
  • The problem with putting emergency funds in a savings account
  • How Life Insurance companies are more accountable and safer than banks

Episode Takeaways:

  • It is the fund where you put extra money or cash in case you have an emergency, be it a medical emergency, be it the car breaking down, be it unexpected dental work -- anything unexpected.
  • Emergency Fund: Liquid money that's easily accessible and it doesn't have any risk associated with it. It's not stuck somewhere.
  • Over 30 years, you would miss out on over $130,000 if you left your emergency fund sitting in a checking or savings account compared to a policy.
  • Even in the Depression, when thousands of banks went under, most insurance companies didn't go under.

     

Oct 16, 2017

In this episode, we will discuss how to end debt. You see, there is a difference between paying off your debt and recapturing your debt. And we'll explain how this works so you can finally get off the debt hamster wheel.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e27

There are some staggering statistics on the level of debt Americans are carrying. It's truly frightening.

But it's vitally important that you change your mindset from merely, I want to get out of debt. This should change to wanting to recapture your debt.

Getting out of debt is a topic speak with clients about every day, and that's the problem with debt. And whenever you adhere to the concept of becoming your own banker, you start to see ways of making a lot of money by recapturing your debt.

The problem is that a lot of people know what we mean by recapturing debt. And there's one more step that needs to take place we share in this episode.

How to End Debt and Recapture Your Money Topics:

  • How bad is the debt crisis
  • What is recapturing debt
  • Using a policy as the engine
  • The counter-intuitive way investing debt works
  • Understanding asset-rich and cash poor
  • Finding opportunities to teach children about debt

Episode Takeaways:

In 2017, we are in a greater financial crisis than we were in 2008 ... because we're carrying even more debt in the US.

Household US debt currently in the first quarter of 2017 was $12.87 trillion, and that is all of us living on debt.

We've got to learn to recapture debt, especially if we're going to bring down the debt in the US.

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