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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 3
E181: The Ray Poteet Tribute and His Successful Infinite Banking Vision 0
May 2, 2023

In this episode, Nate and Holly pay tribute to the late Ray Poteet, sharing the valuable lessons they learned from him. They also discuss how Ray's contributions have advanced the concept of infinite banking, paving the way for future generations to benefit from his work. 

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/bankonyourself

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e181

~ Do you get value out of the show? Please consider giving Dollars and Nonsense a five-star review on Apple Podcasts.

Topics discussed in this episode:

  • Discover the inspiring story of Ray Poteet and how he became a trailblazer in the world of Infinite Banking
  • Learn about the valuable lessons we can get from Ray that can benefit your financial journey
  • Know how Ray's vision and contributions have pushed the boundaries of Infinite Banking, making it more accessible and useful for everyone
  • Understand the importance of a long-term perspective when it comes to financial planning and how infinite banking can help you achieve your goals over time
  • See more potential of IBC to create generational wealth and provide financial security for your loved ones

Episode Resources:

 

E180: Maximizing Your Wealth: How to Make the Most of Extra Cash Now 0
Apr 25, 2023

In this episode, Nate explores the topic of managing extra cash when practicing infinite banking. By taking a holistic approach to managing your finances, you can optimize the effectiveness of your Infinite Banking strategy and achieve greater financial security and freedom.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/bankonyourself

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e180

~ Do you get value out of the show? Please consider giving Dollars and Nonsense a five-star review on Apple Podcasts.

Topics discussed in this episode:

  • Explore various options for utilizing extra funds, such as having strategic loan balances
  • Gain expert insights on how to take a holistic approach to financial management for greater success
  • Why does every decision that you make when practicing IBC needs to be logical
  • Learn how to prioritize and allocate your extra cash to achieve maximum benefit and growth
  • How to navigate potential pitfalls and risks associated with managing extra cash, and how to avoid common mistakes
  • Practical tips on how to incorporate the Infinite Banking Concept into your overall financial plan

Episode Resources:

E179: The Infinite Banking Strategy: Why It's Important to Put Your Policy to Work 0
Apr 18, 2023

In this episode, Nate explains the significance of initiating the use of your infinite banking policies. While simply having a policy in place is a good start, more is needed to reap the full benefits of infinite banking.

~ Access our FREE Infinite Banking Beginner course here:

livingwealth.com/bankonyourself

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e179

Topics discussed in this episode:

  • Discover Nate's game-changing perspective on infinite banking policies
  • Learn why passivity is the ultimate enemy of success in IBC
  • Uncover the connection between confidence and successful IBC practice
  • Gain insight into the importance of taking action to steer your financial ship
  • Uncover why using policies is crucial for becoming a successful IBC’er
  • Why human behavior trumps math in a debt management
  • Ramsey vs. Shapiro: human faults vs. math, which wins?
  • How to shift your financial mindset for long-term control
  • Realize the importance of moving beyond math to achieve financial success
  • Understanding the four Stages of IBC: Saver, Capital Builder, Entrepreneur, Lifestyle
  • Learn from Nelson Nash's wisdom on forming new habits

Episode Resources:

E178: Offering Value to the Right People: Who's the Best Fit? 0
Apr 11, 2023

In this episode, Nate explores how to identify for whom the infinite banking concept will provide the most value. It’s what he calls finding the ideal client. In addition, the episode reveals how a tailored approach and a robust consultant-client relationship can lead to long-term success with IBC.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/bankonyourself

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e178

Topics discussed in this episode:

  • How to determine if you are someone who can benefit the most from the Infinite Banking Concept
  • Learn how to align your goals to maximize value from an IBC consultant
  • Find out how we focus on providing value to the right people that can help them be the best banker they can be
  • Uncover the difference between a consultant relationship and an order-taker relationship in the banking world
  • How to get the most benefits from engaging with a consultant who values ongoing communication and collaboration
  • Harness the power of infinite banking with a proactive mindset
  • Understand the importance of having a clear goal and vision for maximizing the benefits of IBC
  • Recognize the distinction between using IBC as a tactic versus a long-term strategy
  • Why the best clients are those that are interested in presenting their ideas for how IBC works
  • How we help you learn how to think inside of the infinite banking paradigm

Episode Resources:

E177: How Infinite Banking Can Help Impact Your Personal Income Statement & Balance Sheet 0
Apr 4, 2023

In this episode, Nate explains the impact of infinite banking on your income statement and balance sheet and why misclassifying policy transactions can harm your financial mindset.

~ Access our FREE Infinite Banking Beginner course here:

livingwealth.com/bankonyourself

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e177

Topics discussed in this episode:

  • Learn how infinite banking can help you take control of your finances and achieve financial freedom
  • Understanding how financial statements work
  • Find out how to avoid common mistakes that can negatively affect your income statement and balance sheet
  • Why do policy transactions not affect the income statement or budget
  • Uncover tips for successfully implementing infinite banking in your personal finances
  • Why whole life insurance premiums have a unique effect on the balance sheet
  • How different policy transactions affect your income statement, your personal income statement, and your balance sheet
  • Gain insight into how policy cash value, real estate, stocks, mutual funds, and retirement programs are assets that should be on the asset side of the balance sheet

Episode Resources:

E176: How to Gain Life-Changing Returns with the Barbell Investing Strategy Now 0
Mar 28, 2023

In this episode, Nate discusses how you can earn life-changing rates of return on your investments with very little overall risk by choosing your investments using the barbell strategy.

~ Access our FREE Infinite Banking Beginner course here:

livingwealth.com/bankonyourself

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e176

Topics discussed in this episode:

  • Why consider implementing the Barbell strategy to optimize your portfolio
  • How to achieve high returns with minimal risk by using the barbell investing strategy
  • Why this strategy requires discipline and a long-term perspective but can lead to life-changing rates of return on investments
  • Find out what steps to take before making any investment decisions to ensure financial success
  • Understand how regular rebalancing is necessary to maintain the desired allocation and maximize returns

Episode Resources:

E175 Bonus: Silicon Valley Bank vs. the Safety of Mutual Life Insurance Companies Now 0
Mar 22, 2023

In this episode, Nate discusses how Silicon Valley Bank collapsed, and he also answers the question, "Could something similar happen to mutual life insurance companies?" In addition, he'll detail essential lessons for all of us to learn in light of the recent bank meltdowns.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e175-bonus

Topics discussed in this episode:

  • Explanation of what caused Silicon Valley Bank and Signature Bank to fail, including the unique set of financial risks they faced
  • How banks operate and how they invest deposits from customers
  • Why banks and companies that stretch for yields are vulnerable to meltdowns, and the same can happen to individual investors
  • How monitoring and regulation of banks and mutual life insurance companies contrast
  • Comparison of mutual life insurance companies to other types of financial institutions, such as banks and credit unions.
  • Understanding how Mutual life insurance companies are different and more resilient to economic upheavals
  • Learn to evaluate the bank's risk management strategies and policies
  • Lessons on the liquidity of investments and financial positions and how to consider them as a power in financial planning
  • Explanation of how becoming your own banker using dividend-paying whole life insurance policies with mutual life insurance companies is unlikely to face the same risks as traditional banks

Episode Resources:

E175: Advanced Infinite Banking: Unlock the Power of Strategic Loan Balances 0
Mar 21, 2023

In this episode, Nate discusses one of the more advanced topics in IBC, strategic loan balances. He’ll also dive into what is a strategic loan balance, who can benefit from having a strategic loan balance, and why they're not for everybody.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e175

Topics discussed in this episode:

  • Defining strategic loan balances and their importance in financial management.
  • How strategic loan balance is connected to your infinite banking system
  • Analyzing the factors that impact strategic loan balances, including interest rates, market conditions, and loan term
  • Evaluating the opportunity cost of maintaining a strategic loan balance versus paying off loans early
  • Identifying potential risks associated with strategic loan balances, such as default and credit risk

Episode Resources:

 

E174: How to Overcome the Risks and Danger of Every Underfunded Liability 0
Mar 14, 2023

In this episode, Nate and Holly discuss how stressful and dangerous it can be to live life with underfunded future liabilities.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e174

Topics discussed in this episode:

  • The five areas of life where people often find themselves underfunded financially
  • Why it is important to properly fund these future liabilities
  • Mutual funds and stock accounts are actually not good at producing retirement income
  • How big the causes are due to unfunded liabilities
  • How to create a situation in which you are very financially secure and be over-capitalized in the future
  • What can the Infinite Banking system do to overcome the dangers of underfunded liabilities

Episode Resources:

E173: How to Enable Infinite Banking and Make a Significant Impact in Your Life 0
Mar 7, 2023

In this episode, Nate discusses the optimal way to set up your infinite banking system so that you can get the most profit out of becoming your own banker. 

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e173

Topics discussed in this episode:

  • What should you be doing to get the most out of IBC
  • The most powerful breakthroughs of IBC
  • Why IBC is meant to optimize your entire financial life
  • Determine what should be flowing through IBC policies 
  • Understanding facts about the premium levels that you start

Episode Resources:

E172: Have Financial Freedom with IBC: The 6 Principles You Need to Know (Part II) 0
Feb 28, 2023

In this episode, Nate continues the discussion of the six financial principles that serve as the bedrock of the Infinite Banking Concept.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e172

Topics discussed in this episode:

  • Finance everything you buy
  • Banking is inescapable no matter how you do it
  • Capital attracts opportunities like a magnet
  • How people succeed best when they implement the full process
  • Why Mutual Insurance is the best for IBC banking system owners
  • Contrasting IBC with conventional retirement planning structure
  • Mutual Insurance Companies provide the best way to “plug in” to the banking system as owners.
  • Safe capital creates an Antifragile financial position
  • Why the power of IBC cannot fully be shown on a page of numbers

Episode Resources:

E171: Have Financial Freedom with IBC: The 6 Principles You Need to Know (Part I) 0
Feb 21, 2023

In this episode, Nate discusses the six financial principles that serve as the bedrock of the Infinite Banking Concept. 

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e171

Topics discussed in this episode:

  • You Finance Everything You Buy
  • Banking is Inescapable
  • People succeed best when they implement a process
  • Capital Attracts Opportunities
  • Mutual Insurance Companies provide the best way to “plug in” to the banking system as owners.
  • Safe Capital creates an Antifragile financial position

Episode Resources:

Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/

What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/

Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/

E170: What led us to Living Wealth and Success with the Infinite Banking Concept? 0
Feb 14, 2023

In this episode, Nate and Holly sit down to discuss the journey that led them here to Living Wealth and to the Infinite Banking Concept as a whole.  

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e170

Topics discussed in this episode:

  • The Journey of what led them to learn about Infinite Banking
  • This podcast has become a huge blessing in Living Wealth
  • How to be practically and financially free
  • The right financial perspectives to live by

Episode Resources:

E169: Ways to Improve and be Successful in Your Financial Journey using IBC 0
Feb 7, 2023

In this episode, Nate sits down with friends and clients Garret and Miles Gastile, where they discuss their journey getting started with Infinite Banking. They also discuss the many ways they've successfully implemented the process in this short period of time.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e169

Topics discussed in this episode:

  • How can Infinite Banking Concept change your perspective
  • What are some things Miles and Garrett had to overcome to really believe in IBC
  • Why paying premiums can be really exciting in one of two ways
  • What were their biggest questions and hesitations while learning about IBC
  • Understanding the fundamental layers of Infinite Banking

Episode Resources:

E168: Why Universal Life Falls Short and Whole Life is the Solution for IBC Success 0
Jan 31, 2023

In this episode, I discussed the real reasons why universal life insurance policies cannot be used to practice infinite banking and why participating in whole life insurance must be used to become your banker. 

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e168

Topics discussed in this episode:

  • The detailed flaws of the policies
  • What is Nelson Nash's idea of becoming your own banker
  • Why banking is inescapable and a fundamental fact of life
  • The impact that last year had on IUL owners and how it came as a shock to a lot of them
  • Why you can't practice IBC with Insurance Universal Life

Episode Resources:

E167: Know the Best Perspective for Premiums that will Determine your Success in IBC 0
Jan 24, 2023

In this episode, Nate discusses the proper perspective for premiums while practicing the infinite banking concept. This is the most important understanding that will determine your success. 

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e167

Topics discussed in this episode:

  • Why your relationship with premiums is the most important deciding factor for whether or not IBC will be a success for you
  • Starting IBC with great intention
  • What is the incorrect understanding of premiums
  • Why most fears of capitalizing policies through premiums are based on incorrect ideas
  • Loans and loan repayments fit in the same window in IBC
  • Why should you think that premiums are not payments

Episode Resources:

 

E166: How Valuable Infinite Banking Concept Really is During Financial Crisis 0
Jan 17, 2023

When the world is seemingly bursting at the seams and chaos starts to settle in, the simple life of infinite banking starts to shine more and more.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e166

Topics discussed in this episode:

  • Rules and Process to become Confident Financially
  • What it is like to be in an IBC during Chaos
  • Why you should learn a new Paradigm and Idea in times of Chaos
  • Opportunity to experience something you've never experienced before
  • Understanding how simple IBC Life can be

Episode Resources:

E165: Beware of the Critics Online on Infinite Banking that can Mislead You 0
Jan 10, 2023

In this episode, Nate discusses the most common critiques of infinite banking that you can find online to figure out which critiques are fair and which critiques are misleading. 

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e165

Topics discussed in this episode:

  • Why there's no such thing as a financial strategy that cannot be critiqued
  • The reality of Financial Life - Why every strategy comes with sets of pros and cons 
  • Determine whether or not you should do Infinite Banking
  • Every financial strategy is compelling or unnecessary depending on situational realities 
  • You can practice infinite banking to be better off than you hadn't in objective terms

Episode Resources:

E164: Huge Policy Loan Mistakes People Make - A Guide to Infinite Banking Success 0
Jan 3, 2023

In this episode, Nate and Holly discuss the biggest misconceptions about policy loans and how to avoid them in this episode. Unfortunately, these are the misconceptions many people believe when they get started with the Infinite Banking Concept that can lower their wealth-building trajectory.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e164

Topics discussed in this episode:

  • Understanding the process of why and when you take policy loans 
  • What actually takes place with policy loans and How to Utilize those with your policy
  • What's the point of ever borrowing from Policy Loans?
  • The Three ways for a Policy to grow
  • Why the real power in IBC is the capitalization of the policies

Episode Resources:

E163: How to Know When it's Best to Use Your Infinite Banking Policy or Pay Cash 0
Dec 19, 2022

In this episode, Nate answers a common question: when does it make sense to use your policy to pay for something, or should you just pay for it with cash?

~ Access our FREE webinar reply Nate mentioned in this episode here:

https://livingwealth.com/how-to-decide-when-to-purchase-with-cash-vs-a-policy/

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e163

Topics discussed in this episode:

  • Why would it make sense then to use a policy and actually pay policy loan interest to do something?
  • What's keeping you from actually fully transitioning into becoming your own banker
  • Policy Loan makes sense for almost everything if you have structured your financial position
  • Why You need to set yourself up in the true pure IBC fashion
  • Understanding that there's no magic in policy loans

Episode Resources:

E162: Are Tax-Deferred Programs Really Reliable? Here are 4 Main Risks and Rewards 0
Dec 12, 2022

In this episode, Nate & Holly discuss the four main risks of tax-deferred programs, and they also discuss how understanding those risks can help decide whether those programs are suitable for you.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e162

Topics discussed in this episode:

  • Understanding the actual risk-reward situation that's being offered by retirement programs
  • Why Volatility risk can hit in a few different ways
  • The tax risk and its risk-reward tug of war are going on once again
  • Why is opportunity risk the least concrete risk and probably the most important?
  • Why Political risk is the most farfetched one

Episode Resources:

E161: Is Infinite Banking Concept Really Practical and Worth Your Time? 0
Dec 5, 2022

In this episode, Nate answers the question, why is it so difficult to get people interested in the infinite banking concept? He'll offer suggestions to help you successfully discuss IBC with the people around you. And if you're new to IBC and are trying to figure out if this is a worthwhile endeavor for you, answering this question will help you understand why IBC can feel so difficult to comprehend to its fullest.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e161

Topics discussed in this episode:

  • Why is it so difficult to answer or to get people interested in infinite banking?
  • Why do some people think IBC can feel odd, salesy, and too good to be true?
  • Why it has taken so long for infinite banking to start becoming more mainstream?
  • IBC is not as big of a paradigm shift as religion.
  • The paradigm of retirement planning or retirement programming

Episode Resources:

E160: Success Key: 4 Stages for Your Effective Infinite Banking Commitment 0
Nov 28, 2022

In this episode, we discuss the four different stages of infinite banking commitment that each person will find themselves in. We also discuss the pros and cons of each stage. 

Understanding the different levels of IBC commitment can help you figure out your stage and how to optimize your IBC practice for maximum results. Nate made a video presentation to go long with this episode because the model is so important. In a special 4 Stages of IBC Commitment presentation, Nate breaks down the new model mentioned in the episode above and makes it easy to understand no matter how far along you are in your Infinite Banking journey.

The presentation covers the following:

* defining the four stages
* the characteristics of each stage
* the pros and cons of each stage
* and how to best maximize your policy depending on the stage of IBC commitment you're in

Go here to watch the video: https://livingwealth.com/4-stages-of-ibc-commitment/

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e160

Topics discussed in this episode:

  • How much money do you have to get started with
  • What is it going to cost You to get started
  • The Saver Stage and how to start getting more out of it
  • The Capital Builder Stage
  • The Entrepreneur Stage
  • The Lifestyle Stage and how to maximize your IBC

Episode Resources:

E159: Is a Modified Endowment Contract Best for Your Infinite Banking Goals? 0
Nov 21, 2022

In this episode, we answer the question, does it ever make sense to own a modified endowment contract, otherwise known as a MEC? We will also dive into what exactly is a MEC, what are the pros and cons of owning a MEC, and under which situations is a MEC desirable.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e159

Topics discussed in this episode:

  • What exactly is MEC?
  • Become your own banker through a specific type of life insurance policy
  • How MEC applies to Infinite Banking
  • When a MEC must be created to do its job for you
  • Pros and Cons of Owning MEC

Episode Resources:

E158: 3 Important Infinite Banking Perspectives Every Savvy Practitioner Must Adopt for Success 0
Nov 14, 2022

In this episode, Nate and Holly discuss the three most important perspectives to adopt in your life if you want to be confident and successful while you practice Infinite Banking. They also discuss on how banking works, how our money works and what is Infinite Banking doing with it.

~ Access our FREE Infinite Banking Beginner course here:

https://livingwealth.com/beatinflation

~ Get resources and transcripts from this episode by visiting:

https://livingwealth.com/e158

Topics Discussed:

  • Three main keys that are necessary to be Confident and Successful While Practicing Infinite Banking. 
  • How to Design the Policy
  • The little pockets and buckets in Life
  • Why do we all need to see Premiums and Loan Repayments as Building your Wealth
  • Infinite Banking is not a Quick Fix

Episode Resources:

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