EP212: Deep Diving the Infinite Banking Concept – Interview with Nate Scott and Holly Reed
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Like most people who are passionate about creating financial freedom, I’m always interested in learning ways to make my money work for me. The Infinite Banking Concept is an incredible tool you can use to reach your financial goals. Whether you’re looking to pay off credit card debt, purchase a car, or buy a cash flowing rental property, this system can help you not only reach your goal, but also make a profit!
On this episode of Investing in Real Estate, I’m sitting down with Nate Scott and Holly Reed of Living Wealth to discuss the ins and outs of the Infinite Banking Concept. You’ll learn about how to build your own private banking system and how to use this strategy to grow your real estate portfolio. Nate and Holly are experts on creating wealth; you won’t want to miss today’s show!
More About This Show
The Infinite Banking Concept, created by Nelson Nash is a method for individuals to use whole life insurance in a creative, effective way. The Infinite Banking Concept teaches individuals to act as their own bank. In their roles at Living Wealth, Nate and Holly encourage people to take advantage of this system.
While most people use whole life insurance for protection, banks are actually the largest purchaser of whole life insurance. Nate and Holly explain that in order to build wealth, you have to replicate the banks’ process. Big banks don’t purchase the policies and let cash accumulate over time.
Instead, they use the cash value to fund everything they do. This works because there’s a guaranteed growth rate on the life insurance, and it grows tax-free. In terms of buy-in, typically the minimum is a death benefit of $25,000.
Another incredible benefit of this system is when you take a loan, it comes from the life insurance company, and not your individual policy. Because of this, your money continues to grow in your account at the guaranteed growth rate. There is also no strict repayment plan, and no amortization schedule. There are very few limits to what you can do with this strategy!
On today’s show, Nate and Holly are sharing even more about creating your own banking system through whole life insurance. We’ll discuss the cost to get started, and how to change the way you use interest. You’ll also learn about Nate and Holly’s podcast, business, and partnership! Don’t miss this episode of Investing in Real Estate!
If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you’ll learn:
- Why do big banks purchase whole life insurance?
- How is the Infinite Banking Concept similar to leveraging a rental property?
- What is the typical guaranteed growth rate on a whole life insurance policy?
- How does Infinite Banking Concept compare with borrowing from a 401k plan?
- How can you use this strategy to overcome debt?
- And much more!
Episode Resources
Care.com
Sanebox
Dollars and Nonsense Podcast
Lifestyle Banking
Becoming Your Own Banker by Nelson Nash
The Tree of Wealth by Ray Poteet
Lifestyle Banking Beginner’s Course
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Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
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Contact Nate Scott and Holly Reed
Website
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