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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: Page 1
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.

     

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