Updated: Oct 15, 2020
This concept has many different names - all a variation on a theme: "Infinite Banking", "Bank on Yourself", "Banker's Secret to Family Wealth", "Private Reserve Strategy", and many more. These concepts are sound, but often misrepresented. Insurance companies compliance officers are often very leery of agents who promote these concepts because of how they are so often misrepresented. Today, we're going to go into depth as to how this REALLY works, and make it clear enough that even the compliance officers will be happy with it!
The premise is this: You finance everything you buy - you either give up interest on savings, or you PAY interest when you go into debt.
The promise of most of these "Infinite Banking" promoters is you can eliminate the loan interest and maximize your earnings. Is that possible? We'll explore that.