Becoming Your Own Bank
Infinite Banking – High-Level
Infinite banking is a process in which whole life insurance plays a large part in. This course will go over the different parts of the infinite banking process, so you can be fully informed before you start to implement the process yourself!
The Dilemma of Traditional Finance
In traditional finance, people take their savings, store them in banks where there is little to no growth and invest in retirement accounts that give non-guaranteed returns. Retirement accounts are illiquid, penalize people for taking money out early, and restrict what investors can do with their cash!
How Traditional Banks Operate
Bank-Owned Life Insurance (BOLI)
Bank of America, Chase, and many other banks invest billions of dollars into life insurance to maintain and grow their businesses. See their asset and liability holdings below:
One of the ways traditional banks make a profit, is by acting as a middle man, using customers cash and investing it into Bank-Owned Life Insurance (BOLI)
What we want to do is get rid of the middle man and reap the benefits directly.
