On the show today is America's #1 Money Mentor, Chris Naugle.
I'll be honest — I brought Chris to have a conversation on a topic we don't agree on...infinite banking.
If you haven't heard of infinite banking before, you're perfectly normal. It's not a very popular term in the financial world and most financial gurus like Dave Ramsey and Suze Orman are completely against it.
But, what I've learned over the years in this world of personal finance is not every guru is always right.
Therefore, I decided to say "yes" to my guest today so I can ask him the hard questions about...
Now, we will dive into infinite banking in depth, but here is the sceanrio/example he used inside the episode:
👉 You deposit $1,000 into a whole life cash value life insurance plan (yes, you read that correctly...and I was cringing when he said it).
👉 The life insurance plan pays out 4% guaranteed return plus non-guaranteed dividends. The dividends in this scenario were 2%. Therefore, your return is 6%.
👉 Then you immediately borrow from the life insurance plan $900, while your $1,000 remains inside the plan earning 6%. You borrow the $900 at 5%, earning a 1% spread.
👉 Next you take the $900 that you are paying 5% while earning 6% on your $1,000 and you use it to pay off high interest debt, to save, or to invest.
In theory, this looks great on paper. But, I had a lot of questions and concerns with this strategy and kudos to Chris Naugle (my guest) for answering every question I throw at him.
Mentioned in the Show
Learn more about Chris Naugle and Infinite Banking Here.
Watch the Free 90-minute webinar with Chris
Free Book: Mapping Out the Millionaire Mystery by Chris Naugle
[Watch] Dave Ramsey on Infinite Banking
Follow Chris on all social channels @thechrisnaugle
**
Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!
**
Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011.
If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.
All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session169
EP92: Pay Your 30-Year Mortgage in 5-7 Years on Your Existing Level of Income - with Jordan Goodman
EP91: What’s Your Best Investment Strategy - with Larry Ludwig
EP90: The Budget Burndown Technique - with Jeff Whelpley
EP89: Morning Routines, Extreme Focus, and Non-Stop Learning with George Laughton
EP88: The Savings Loopholes Inside the unAffordable Care Act with Michael Dinich
EP87: How She Paid Off $30k in only 96 Days! with Mary Wheeler
EP86: If You Want to Get Better, Find a Mentor - with Bobby Hoyt
EP85: The Simple Daily Habits of Millionaires with Tom Corley
EP84: Chopping Your Grocery Bill in Half with Erin Chase of $5 Dinners
EP83: Should Couples Manage Money Together? - with Co-Founders of HoneyFi
EP82: The Wealthy Single Mommy with Emma Johnson
EP81: How to Interview Your Financial Advisor - with “Seth”
EP80: The $10K V.A. (Virtual Assistant) - with Kayla Sloan
EP079: From Freelance to Freedom with Vincent Pugliese
EP078: From Target to the College Investor with Robert Farrington
EP077: Side Hustling for Profits, NOT Wages - with Nick Loper
EP076: Earning over $600k Counting Cards? - with Colin Jones
EP075: Get Your Financial SH*T Together - with Priya Malani
EP074: 3x Profit in the First 2 Years of Business - with Kelly Snyder
EP073: Building Freedom One House at a Time - with Coach Carson
Create your
podcast in
minutes
It is Free
The Meaningful Life with Andrew G. Marshall
Heal, Survive & Thrive!
A Voice In The Darkness
BPLUS بیپلاس پادکست فارسی خلاصه کتاب
The Jordan Harbinger Show