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
EP051: Daily Rich Habits of Millionaires with Tom Corley
EP050: Building the Community through Crossfit with the Vaydas
EP049: The Power of Meditation in Both Life and Money with Leisa Peterson
EP048: Understanding Facebook Ads and Paying Off $120k in 2 Years - with Monica Louie
EP047: Paying off the Mortgage by 35 - with Andy Hill
EP046: Massive Goals, Refusing to be Satisfied, and Leveling Up with Joshua Smith
EP045: Mother of 7 Runs Multiple 6-Figure Online Businesses with Toni Anderson
EP044: Serial Entrepreneur, Ketogenic Diet, and Hangover-Free Wines with Todd White
EP043: Building a Massive Real Estate Portfolio In Your 20s - with Dana Bull
EP042: Morning Routines, Extreme Focus, and Non-Stop Learning with George Laughton
EP041: How I Grew Money Peach from the Ground Up
EP040: The Profit Boss, Hilary Hendershott
EP039: The Financial Rockstar - Scott Alan Turner
EP038: Retired at 34?! - with John Gaston
EP037: Are Mutual Funds Slowly Dying? with Jeff Jones
EP036: Innovate or Die, with Jason Beck
EP035: How to budget when you live paycheck to paycheck
EP034: PD S.W.A.T. Officer Goes Debt-Free
EP033: Five-times X Games Gold Medalist, Nate Adams
EP032: I Married the Girl On TV (SERIOUSLY)
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