The Money Advantage Podcast

Do you want to build your family bank that will provide capital to you and future generations? Come see behind the scenes as we talk about our Marshall Family Banking System in real-time.  https://www.youtube.com/watch?v=c4u4YRT5wIs Today, we’re updating you in real-time to show the impacts of paying another year of premium, how our cash value is growing, and our vision for how we’ll use our family bank as the foundation to grow generational wealth. So, if you want to see exactly how and why you can grow a family bank to secure capital reserves for your family for generations to come… tune in now! Table of contentsHow Do Life Insurance Illustrations WorkA Brief History of the Marshall Family BankMaximizing Human Life ValueThe Capitalization Phase of Infinite BankingWhere the Marshall Family Bank StandsOther Installments of the Marshall Family Bank SeriesBook A Strategy Call How Do Life Insurance Illustrations Work [3:45] “What I want you to understand is that the illustrations are simply snapshots in time. They are the insurance company’s best guess at what’s going to happen. In some periods of time—whether it’s 5 years, 10 years, 20 years, 30 years—[the policies do] better than what they projected. And then some periods of time they’re slightly worse than what they projected.”  Because of the nature of these projections, illustrations go out of date quickly. As soon as the floor of your cash value increases, your illustration is out of date. First, you’ve “locked in” your cash value floor, which will affect all future projections. And second, every year the companies declare new dividends, which will change the projections.  Ultimately, when you look at an illustration, it’s a snapshot in time. So although you can trust the general trajectory of your policy, thanks to the good work of the actuaries, it won’t be accurate to the dollar. Don’t get bogged down in the minor details of illustrations. What’s most important is that you find a mutual company with good business practices.  [9:13] “There are too many people selling on the basis of an illustration, which is a projection, which can look really good up front. But the real reason to have an infinite banking policy is that you’re looking for a place to store cash that is safe, it’s liquid, and that’s growing. And if you’re looking for as much safety [as possible], you want a stable, solid company.”  A Brief History of the Marshall Family Bank We’ve discussed how we got into Infinite Banking in other posts, but we’ll do a quick recap for you here. In December of 2012, we opened our first infinite banking policy on Lucas. At the time, we had a pretty sizeable store of gold and silver but found that we weren’t in a position of much liquidity that way. Because the market was down at the time, we ended up losing about half of what we put into those assets.  This was a major catalyst for us to change how we thought about our savings and capital. We realized how valuable it was to have quick and easy access to your money, as well as protection from market losses.  In November 2021, we did a 1035 exchange of that policy into a new policy with a higher annual premium of $20,000. Then, about 7 months ago, we opened a policy on me, as previously I had only had term life insurance. That policy has a $30,000 premium.  When we set up my policy, we backdated it by six months, before my birthday. This allowed us to get more bang for our buck because the cost of the insurance is less the younger you are. It also allowed us to put more capital in from day one of the policy. So our first premium was able to be retroactively applied to when we backdated the policy. Effectively, this allowed us to pay two years' worth of premiums in a year.  Maximizing Human Life Value In addition to our two whole life insurance policies, we also have term insurance that helps us reach our full Human Life Value. This means that we have the maximum amount of death benefit that each of us can have. Even though we’re using infinite banking strategies for our savings, the death benefit still has incredible value.  Besides allowing us to create generational wealth by leaving a legacy, the death benefit is also about protection. It’s there to support our family in the event of a death. While term insurance may be temporary, with no cash value, it’s an important part of our system because it gives us maximum protection and peace of mind.  The Capitalization Phase of Infinite Banking Our policies are now in what we call the capitalization phase. We’re funding the policies so that they can grow and eventually pass the “break-even” point. This is the point at which the cash value equals or surpasses the total amount of premium paid into the policy. During this time, we can access the cash value if necessary, however, we’re more focused on funding this policy.  For most companies, the break-even point happens somewhere between years 7 and 10, give or take depending on certain factors. While the company may factor into this slightly, it’s more important to pick a strong company than to pick a company that has the best projected break-even point. This can change over time, and it’s more important you pick a solid company you can trust.  After this point, your cash value will always exceed the premiums you’ve paid (unless you make a withdrawal). This is because the interest and dividends on the policy are incredibly efficient, especially when you’re maximizing PUAs.  Where the Marshall Family Bank Stands Here’s a snapshot of where the Marshall Family Bank currently stands: Total Whole Life Premiums Paid: $160,673.54 % of Premium as Cash Value: 87.75% % of Premium Available to Loan: 76.35% Total Cash Value: $139,376.37 Total Cash Value Available to Loan: $122,674.23 Total Loan Balance: $0 Total Whole Life Death Benefit: $1,495,721.35 Total Term Death Benefit: $5,508,960.00 Total Death Benefit: $7,004,681.35 As you can see, the cash value of both of our whole life insurance policies have almost caught up to the total premium we’ve paid. Last year, the percentage of our premium available in cash value was only about 75%. And the cash value grows every single day, which means in the near future we’ll be able to see that percentage reach 100% and even cross that threshold. Our loan balance is at zero because we’re focusing on this capitalization phase. We’re working on building our family bank up first and keeping it as liquid as possible for emergencies and opportunities.  [1:04:34] “What’s really amazing is that we know where we’re going. And where we’re going is having more cash value than we’ve paid into a policy. Having more death benefit, should we pass away, that would pay into our trust that would be taking care of our children. We have a plan for continuing our family legacy and the financial resources to do good for generations to come in the future. And so, getting started capitalizing a policy might not be the most fun portion of having a life insurance policy, but we’re looking forward to those years ahead where we’re going to be able to say, ‘We’re so grateful that we did this.’” Other Installments of the Marshall Family Bank Series Part One: Tour Our Private Family Banking System Part Two: Why We Started a New Life Insurance Policy Book A Strategy Call Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? We can help!  Book an Introductory Call with our team today https://themoneyadvantage.com/calendar/, and find out how Privatized Banking, alternative investments, or cash flow strategies can help you accomplish your goals better and faster. That being said, if you want to find out more about how the Infinite Banking Concept gives you the most safety, liquidity, and growth… plus boosts your investment returns, and guarantees a legacy, go to https://privatizedbankingsecrets.com/freeguide to learn more.

Mass Mutual, a top life insurance company and heavily relied upon insurance carrier in the Infinite Banking space, recently came out with a memo to their agents against the Infinite Banking Concept. https://www.youtube.com/watch?v=IFhcV4Kp1yg They shared that the company doesn’t support concepts that promote or present whole life insurance as a personal banking policy, prioritizing the maximization of policy cash values and immediate and regular access via policy loans. [paraphrased] Today, we’ll talk about why an insurance provider may choose to take this position, why this doesn’t impact the Infinite Banking Concept, and how you, as a wise financial steward and wealth creator, can ensure you’re making the best decisions. So, if you’re considering Infinite Banking, and you want to see exactly what you should watch out for … tune in now! Table of contentsWhy Would Mass Mutual Denounce Infinite Banking?Combating MisinformationWhat Does This Mean for the Future of Infinite Banking?What Should You Be Aware of About Infinite Banking?Sales Tactics vs. Education and DisclosureBeware of Transactional RelationshipsRecognize that Illustrations are Projections, Not PredictionsKnow You’re Buying Life InsuranceBook A Strategy CallFAQsIs Infinite Banking still a valid strategy?Why would an insurance company limit the language around Infinite Banking?What’s the deal with Mass Mutual and infinite banking?Can I still use policy loans for personal investments or expenses? Why Would Mass Mutual Denounce Infinite Banking? When a company shoots down the infinite banking concept, what they’re really doing is denouncing the use of oversimplified sales tactics in the sale of whole life insurance. In other words, Mass Mutual and other companies have an interest and a duty to make sure that life insurance remains life insurance. That means that the death benefit remains the purpose of a life insurance policy.  This doesn’t mean people can’t use whole life insurance to save money and take policy loans, especially considering how closely tied Mass Mutual and infinite banking have historically been. In fact, life insurance companies legally must allow policy loans as a contractual provision—they’re not going anywhere. Insurance companies like Mass Mutual are simply taking a stance against practices that may indicate life insurance is not performing first and foremost, as life insurance should.  This statement is about the integrity of the industry, not about IBC in general. Combating Misinformation There’s a lot of misinformation about infinite banking policies, both within the IBC community and outside of it. One of the major problems within the industry is that advisors are trying to make whole life insurance look better than it is. And to be clear: whole life insurance is a very good product. But it’s not magic. The problem arises when people attempt to spread information that makes it seem magical.  It’s unfortunate when clients purchase a whole life insurance policy only to be blindsided by how life insurance actually works. We’ve heard many a horror story about how clients didn’t know their policy loans counted against their death benefit if they didn’t pay it back. Or they believed that the cash value was unrelated to the death benefit. Many clients are also misled about how life insurance is taxed. It’s critical that companies like Mass Mutual take a stand against this misinformation to protect consumers. This is, first and foremost, the priority of the life insurance companies, as it should be. Hopefully, this will encourage more agents to take IBC seriously, thereby preventing the spread of misinformation. [21:30] “The problem is [that] this muddies the water. It makes it difficult for consumers to figure out well who do I actually listen to. Who is telling me the right information? How am I going to get a policy that lasts? How am I going to make sure this is set up properly, [and] how do I make sure it’s not just a flash-in-the-pan policy? So the insurance company is looking at all of this happening and recognizing if people are putting in too much premium dollars because they don’t know what they’re really doing, it’s not sustainable.” What Does This Mean for the Future of Infinite Banking? As far as you are concerned, education will be critical. Before you or any consumer makes a choice, you should seek all the information. Listen to those who are transparent, who discuss the product from all angles, and who are fighting to dispel misinformation. This can take some time to find the right people, but it will be worth it. You want to understand the decisions you’re making so that they empower you rather than blind you.  In particular, pay attention to those who talk about the value of whole life insurance as a protection product. If you come across a producer who doesn’t acknowledge the importance of the death benefit, that’s something to be cautious of.  For producers and agents, it’s imperative to act with integrity and teach people the truth about whole life insurance and infinite banking from every angle.  [30:40] “Ultimately we believe that when you do the right thing, that pays dividends. It just might take longer to get there.” What Should You Be Aware of About Infinite Banking? Ultimately, this conversation isn’t about whether infinite banking is right or wrong, but rather about ensuring that Mass Mutual and infinite banking aren’t misunderstood as being mutually exclusive. It’s a concept that many people successfully put into practice every day, but it may not be right for everyone. This conversation isn’t even about Mass Mutual and whether they’re right or wrong. The underlying conversation here is about how to disseminate the most important information so that you can make the best decisions for you and you’re family. Sales Tactics vs. Education and Disclosure If you’re shopping for life insurance and even hoping to implement IBC, you should look for education, knowledge, and disclosure. The producer who can provide this to you is likely someone with integrity who has your best interests at heart. They are more apt to care about you and your personal economy, not just making a sale.  Someone who is just selling may try to entice you with gimmicks, promises, and fancy spreadsheets. This producer may avoid giving you a complete illustration, with all the disclaimers and “fine print” involved. It’s also common for this type of producer to drive home the idea of day-one cash value, or dividend rates.  At the end of the day, it doesn’t matter which company has the best dividend rate (this changes every year) or how much cash value you have on day one. What matters is that you have a product that is going to serve you and your long-term goals well.  The reason we don’t share a lot of illustrations and numbers on our show is that those numbers mean nothing unless you understand the concepts. We teach the concepts so that when you’re ready to sit down with a producer, the illustration is going to make perfect sense to you.  It’s also helpful to understand how different companies approach policy design. The conversation around Mass Mutual and infinite banking has sparked confusion, but it really highlights the need for clarity.  While Mass Mutual may limit how agents describe certain strategies, it doesn’t change the fact that whole life policies from mutual companies can still support the core principles of Infinite Banking when designed and used properly. Beware of Transactional Relationships Another thing to be cautious of when you work with a producer is how much time they’re willing to give you. If you work with a producer who doesn’t take the time the answer your questions, explain concepts, or address concerns, proceed with caution. You don’t want to work with someone who simply treats you like a number—your personal life and goals don’t matter. You deserve to have a producer who cares about you and your family. This should be someone who asks YOU questions about what you want, where you live, what you do, and who is in your family. This is how you build a real relationship, and a producer who cares is a producer who can help you find the best possible tools and strategies for your personal situation. Recognize that Illustrations are Projections, Not Predictions [40:16] “[Illustrations] are projections. They’re projecting an assumption into the future based on everything that is happening today. They are not predictions of what exactly will happen 30 and 40 and 50 years from now. It is way too easy to make that switch and take an illustration as a prediction of what exactly will happen.” The reason this distinction is so critical is that it’s tempting to take illustrations from several companies and compare them under a microscope. This may seem like the best method, yet when you really understand illustrations, you know that this is frankly a waste of time and energy.  Illustrations become inaccurate the moment your cash value increases because you have new data to apply to the dividend and interest projections. Not to mention, all companies declare new life insurance dividends each year. One company could be on top this year and at the bottom the next.  The minutia of your illustration projection is the least of your concerns. Instead, you want to focus on the big picture of how Mass Mutual and other companies operate. Do they invest conservatively? Are they a mutual company? Do they have a strong business rating? Know You’re Buying Life Insurance Whether you’re planning to execute the infinite banking concept or not, at the end of the day, you’re buying life insurance. IBC is a long-term strategy, and it’s also one that can provide tremendous protection to your family. Don’t discount how important this is. [44:05] “I almost died about three and a half years ago now,

You have heard of the Seven Deadly Sins: pride, greed, lust, envy, gluttony, wrath, and sloth. Each is a natural human weakness that impedes happiness. In addition to these vices, however, there are economic sins as well. And they, too, wreak havoc on our lives and in society. They can seem intuitively compelling, yet they lead to waste, loss, and forgone prosperity. James Otteson, the John T. Ryan Professor of Business Ethics at the University of Notre Dame, is the author of Seven Deadly Economic Sins. https://www.youtube.com/watch?v=FxZ8_rxEbyI In this thoughtful and compelling book, James Otteson tells the story of seven central economic fallacies. He explains why believing in these fallacies leads to mistakes and loss, and how to avoid costly errors. This, ultimately, enables us to live in peace and prosperity. Today, on the podcast, we discuss: What economists agree about Why wealth creation is positive-sum, not zero-sum How market economies have enabled more prosperity than any other system of economics Why business can be moral and honorable If you want a conversation about economics, philosophy, and how nations prosper… tune in now! Table of contentsFrom Philosophy to EconomicsTeaching Business EthicsWho is James Otteson’s Seven Deadly Economic Sins For? Is Wealth a Zero Sum?The Morality of BusinessAbout James OttesonOtteson at Notre DameBook A Strategy Call From Philosophy to Economics In the blink of an eye, James Otteson found his path changed from medicine to philosophy, thanks to a required college course. [7:40] “I thought if you went to college, you should either become a medical doctor or a lawyer. I thought those were the two things you became. So I was going to be a medical doctor, and I just happened to take a course that I was required to take, that was taught by a Classics professor… It led me into the great books program at Notre Dame.” He notes that when he was in grad school in Chicago, one of his philosophical heroes was David Hume. In particular, he wanted to write his thesis on Hume’s moral theory. His research eventually led him to Adam Smith and his book, The Theory of Moral Sentiments, which was a pivotal moment in Otteson’s career and became the new subject of his dissertation. What he discovered was that very few people had really written on or responded to Smith’s book, and Otteson viewed it as an untapped well. It was Smith's ideology on morals that sparked Otteson's initial interest in the economy and politics. Teaching Business Ethics After teaching courses on the history of economic thought for some time, Otteson was asked to teach a course on business ethics. When working on the course and how he would approach it, Otteson learned there was very little consensus on how a business ethics course ought to go.  [11:41] “I thought it might be more interesting and maybe more productive, if instead of just looking at all the ways that business could go wrong, instead turning it around a little bit and asking: “Is there some kind of moral purpose that a life in business could actually serve?”  By reframing the class slightly, he could have students think through whether it is possible to be fully engaged in a business and also be a virtuous person.  Who is James Otteson’s Seven Deadly Economic Sins For?  James Otteson’s research heavily influenced his latest book, Seven Deadly Economic Sins. The book was written with an intelligent audience in mind, specifically, those who are not economists yet are interested in working well within the existing economy.  [14:10] “We all have our opinions about politics. But we also, many of us, have very strong opinions about economic matters even though, curiously, many of us have not studied economics.” So while everyone may have an opinion about something like minimum wage, not everyone has read the academic literature on the topic. And in fairness, as Otteson shares, when you open an academic journal it’s full of equations that require technical knowledge. And even when you understand them, many economists disagree on how certain principles and equations can best apply to real life. It’s tough to break into, and tough to know who to listen to.  Otteson wrote Seven Deadly Economic Sins with that in mind. It’s written for people who have an interest in understanding how economic principles affect real life and inform decisions. And even though economists disagree on many things, there are fundamental principles that basically every economist agrees on.  Is Wealth a Zero Sum? The first chapter in Seven Deadly Sins is about the belief that wealth is a zero-sum game. In order for this to be true, that would mean that when someone wins, someone is losing at a proportionate level. Therefore, when someone amasses a fortune, there are people who are being “kept” from wealth. And unfortunately, this is an incredibly pervasive myth.  One reason it may be such a common misunderstanding is that other coveted resources operate this way. While time is unlimited, individual access to time is finite. Once you’ve spent an hour doing something, that’s an hour you can never recover. And while wealth is technically infinite, people operate under the assumption that their access to wealth will be finite. However, that doesn’t have to be the case—it’s possible to create more wealth for yourself in the marketplace, without limiting someone else’s opportunity. You don’t have to steal from someone to build your wealth and business.  Think about it this way: if your friend has an iPhone, and you take the iPhone, that’s a zero-sum game. There’s only one phone and no ability to create more. However, if you offer your friend money for the iPhone and they agree to sell, it’s no longer zero-sum. There was a value exchange, otherwise, the exchange wouldn’t have happened. You benefit from a new phone, and your friend benefits from the money. And that is the power of the marketplace.  The Morality of Business [49:18] “There’s been a decrease in the kind of entrepreneurial spirit that students have. They want to get a job with an already existing company. They’re less interested in striking out on their own and finding some problem that they can solve on their own… And that does worry me.” [49:54] “Everybody should think about themselves as being something like an entrepreneur.” The thing is, everyone has a problem to solve in the marketplace, even if they’re not entrepreneurially minded. Yet those who lack that entrepreneurial spirit may cannot see how that fits into the marketplace.  To maintain morality in business, Otteson stresses that it’s critical not to seek benefit for yourself at the expense of others. Yet, those who don’t view themselves entrepreneurially may exclude themselves from this moral standard.  [51:05] “There is some unique kind of value that only you can contribute to the world… I think the positive aspect of honorable business is [to] figure out what that is. Be entrepreneurial and innovative in your own life.” About James Otteson James Otteson earned his Bachelor of Arts degree from the Program of Liberal Studies at the University of Notre Dame in 1990. He spent his sophomore year studying abroad at the Universität Innsbruck in Austria. After completing his undergraduate degree, he attended the University of Wisconsin–Milwaukee, earning a MA in Philosophy in 1992. He then joined the Philosophy Department at the University of Chicago, receiving a Ph.D. in 1997. Upon graduating from Chicago, he took a position in the Philosophy Department at the University of Alabama, where he began as an assistant professor, received tenure, and rose to become department chair. In 2007, he accepted a position as a joint professor of philosophy and economics, and director of the honors program, at Yeshiva University in New York City, New York. In 2013, he moved to Wake Forest University, and in 2020, he returned to his alma mater and joined the faculty at the University of Notre Dame. Otteson at Notre Dame At Notre Dame, Otteson is the John T. Ryan Jr. Professor of Business Ethics, the Rex and Alice A. Martin Faculty Director of the Notre Dame Deloitte Center for Ethical Leadership, and the Faculty Director of the Business Honors Program.  He has held visiting scholar positions at the Social Philosophy and Policy Center, then located at Bowling Green State University; at the Centre for the Study of Scottish Philosophy, then located at the University of Aberdeen; at the Institute for Advanced Studies in Humanities at the University of Edinburgh; in the Economics and Philosophy Departments at the University of Missouri-St. Louis; and in the Government Department at Georgetown University. He has also taught in the Economics Department at New York University. Otteson lectures widely on Adam Smith, classical liberalism, political economy, business ethics, and related issues, including for the Fund for American Studies, the Adam Smith Society, the Acton Institute, the Fraser Institute, and the Tikvah Fund. Book A Strategy Call Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? We can help!  Book an Introductory Call with our team today https://themoneyadvantage.com/calendar/, and find out how Privatized Banking, alternative investments, or cash flow strategies can help you accomplish your goals better and faster. That being said, if you want to find out more about how the Infinite Banking Concept gives you the most safety, liquidity, and growth… plus boosts your investment returns, and guarantees a legacy, go to https://privatizedbankingsecrets.com/freeguide to learn more.

Why do top banks own billions of dollars of cash-value life insurance, if Dave Ramsey and Suze Orman say it's such a bad idea? Today, we're looking into bank financials at a little-known, highly desirable asset banks use as a Tier 1 Capital Asset to increase their financial strength. We're talking about bank-owned life insurance, or BOLI. https://youtu.be/7gqAiiHQLXI We’re going to lay to rest the fallacy that this type of insurance is such a terrible investment,  and explain exactly why the most successful financial institutions in the world are pouring billions into it. So, if you want to fortify your finances and increase your stability through economic turbulence … tune in now to find out about becoming your own banker with the Infinite Banking Concept! Quick Takeaways What you'll discover: Why the smartest money managers in the world are pouring billions into life insurance while financial gurus tell you it's a bad idea The staggering amounts banks actually own - numbers that will make you question everything you've been told about life insurance What banks did during the 2008 crisis that should change how you think about protecting your wealth How to copy what banks do and apply their strategies to your personal finances Why banks choose life insurance over other investments when they could put money anywhere How to become your own bank using the same wealth-building principles as billion-dollar institutions Table of contentsWhat Is BOLI?How BOLI WorksWhat About COLI?Why BOLI Is So EffectivePredictable Asset with Regulatory ApprovalHigh Cash Value Accumulation and StabilityHow Much Do Banks Actually Own?What Banks Did During the Financial CrisisWhat Individuals Can Learn from BOLILearn How to Use Life Insurance Like a Bank What Is BOLI? BOLI stands for Bank Owned Life Insurance, and while it’s widely available knowledge, it’s not widely understood. So why would banks want to own life insurance, and what does it do for those institutions?  Banks really didn’t own life insurance until about 1994. In large part, banks take life insurance policies out on their key employees. This doesn’t just give the banks an additional place to store and grow capital securely. The death benefit also provides the banks with a means to train a replacement in the event of that employee’s death. In fact, even the cash value is useful in allowing the banks to prepare for a key employee to retire. This is how banks have “insurable interest” in their employees.  But banks don’t just take out these policies on their employees, either. Banks have actually started group policies on the bank's customers who have loans with the bank. This means that if a customer died, the death benefit would pay for any outstanding loans.  Banks are great at protecting their money. They see the value in having their money over-collateralized in order to protect it.  If that is something that this institution is doing, why shouldn’t you be doing it in your own life? Banks didn't stumble into this strategy by accident - they discovered what wealthy families have known for generations. How BOLI Works Boli isn’t some sort of experimental strategy. This is how the smartest money managers in the world protect and grow capital. Let's say a bank has a key executive making $200,000 a year. The bank takes out a $1 million life insurance policy on that executive, pays the premiums, and owns the policy. Year one: The bank pays a $20,000 premium. Nearly all of it goes into cash value immediately, with full liquidity from day one. That cash value earns a competitive, tax-advantaged return. Year five: The cash value has grown significantly. The bank can borrow against it if it needs capital for operations or lending.. Year ten: The executive retires. The bank still owns a growing asset with even higher cash value and a $1 million death benefit, which supports long-term planning and future expenses. Or, if the executive passes away, the bank receives the full $1 million death benefit tax-free. This more than covers the costs of finding and training a replacement and compensates for any business disruption. Meanwhile, throughout this entire time, that cash value has been growing steadily - no market risk, no volatility, just predictable growth that banking regulators actually encourage. That's why banks love this strategy: it solves multiple problems while building wealth in the safest way possible.  What About COLI? Like bank-owned life insurance, there is also corporate-owned life insurance, or COLI. The idea and usage of this type of life insurance is the same. Companies benefit from having growth and liquidity in a life insurance policy, as well as the death benefit.  Corporations like Walmart, Disney, Procter & Gamble, and many others rely on life insurance strategies.  So if life insurance is such a “bad investment” as some financial talking heads would suggest, then why are banks and major corporations relying so heavily on life insurance in their financial strategies? Clearly, there must be some merit to it. Why BOLI Is So Effective Predictable Asset with Regulatory Approval Tier 1 capital is the core of a bank's capital that is held in reserves. It is also used to fund some of the bank's business. This kind of capital must be safe and liquid. In fact, regulators require that banks have a certain amount of tier 1 capital available. This determines the strength of a bank, and that capital is useful for funding any losses the bank might have. Banking regulators actively encourage BOLI, which should tell you something. While they constantly question other investments as too risky, life insurance cash value gets the green light as safe, reliable capital. High Cash Value Accumulation and Stability In other words, tier 1 capital, like bank-owned life insurance, is directly related to the strength and stability of a bank. So if banks are using such a large portion of life insurance to provide a foundation for their institution, that same logic can apply on an individual level.  It's capital that is safe, liquid, and has growth that's not correlated to the stock market, after all. Banks need assets they can count on, and BOLI delivers exactly that - steady, predictable accumulation without market drama. How Much Do Banks Actually Own? It might surprise you to know just how much life insurance banks have in their financial portfolios. Here are the most current numbers available: Industry-wide totals: $205.7 billion in total BOLI cash value across all banks as of September 30, 2024 3,053 banks nationwide reported BOLI holdings on their regulatory filings 80% of banks with assets between $500 million and $10 billion own BOLI Source: BoliColi.com, citing S&P Global Market Intelligence And while the list above shares some of the more commonly known banks, there are tens of thousands of smaller regional banks with large cash values.  Banks are in the business of making money, and yet they have billions of dollars tucked away in cash value life insurance rather than investing it. What Banks Did During the Financial Crisis It's interesting that in 2008 and 2009, during the biggest financial crisis in our recent history, banks were increasing their life insurance holdings, not decreasing. When we look at banking, if they say that during times of crisis and challenge, we're increasing this asset to hold more cash value than before, that should tell us that they are using this as a predictor of financial strength and stability. And we can do the same in our own lives. When the financial world was crumbling around them, banks doubled down on life insurance.  Is BOLI a good investment? The banks answered that question with their wallets - they bought more, not less. What Individuals Can Learn from BOLI Model the successful few and watch what the successful are doing. Success doesn't necessarily just mean successful individuals; it can also mean successful entities, organizations, or industries as a whole. Banks aren't emotional about money - they're strategic. They don't chase the latest investment fad or panic during market downturns. They choose assets based on safety, liquidity, and predictable growth. That's exactly what you get with a properly designed whole life insurance policy: Safety: Your cash value is guaranteed to grow, regardless of what happens in the stock market. Liquidity: You can access your money through policy loans without penalties or restrictions. Growth: While not explosive, the growth is steady, predictable, and tax-advantaged. The lesson is clear, if the most conservative, heavily regulated financial institutions in the world trust billions of dollars to life insurance cash value, maybe it's time to reconsider what the financial talking heads are telling you. Learn How to Use Life Insurance Like a Bank If you want to learn more about BOLI, you just need to know where to look. We caution against finding your information on social media because much of what you see is opinion and not fact. Instead, you should look for more official sources of information or people you trust to tell you the whole truth. Here are some resources we recommend for further research: The FDIC  US Bank Locations Lara Murphy Report But the real opportunity isn't in BOLI itself - it's in understanding the strategy behind it and applying those same principles to your personal finances. Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? We can help!  Book an Introductory Call with our team today, and find out how Privatized Banking, alternative investments,

So you’ve decided to buy a specially designed whole life insurance policy. You’re working with the right advisor, you have an excellently designed policy. But one day you think: How do I become the best banker I can and use my policy to its fullest potential? To get the most out of your IBC policies, you must follow Nelson Nash’s 5 Rules of IBC. Here to unpack these 5 principles for IBC is David Stearns. https://www.youtube.com/watch?v=v177xxW5c4M David Stearns is Nelson’s son-in-law and president of Infinite Banking Concepts, LLC. He is carrying on Nelson’s legacy both professionally and personally. If you want to learn from the best, this is as close to the source as you can get… so tune in now! Table of contentsContinuing Nelson Nash’s LegacyThe Evolution of the Nelson Nash InstituteHow to Find an IBC PractitionerDavid Stearns Shares The 5 Rules of IBCThink Long-RangeDon’t Be Afraid to CapitalizeDon’t Steal the PeasDon’t Do Business with BanksRe-think Your ThinkingBonus: Be Prepared for WindfallsAbout David StearnsBook A Strategy Call Continuing Nelson Nash’s Legacy Nelson Nash was the innovative creator of the Infinite Banking Concept and the Author of Becoming Your Own Banker. Now, IBC and the Nelson Nash Institute continue to educate people about IBC and how life insurance can play an instrumental role in personal finance. The company is now headed by David Stearns, Nelson’s son-in-law, who we have the pleasure of speaking with today.  David joins us today to share the 5 Rules of IBC that Nelson shared, and how he interprets them today. [22:30] “Whole life insurance is not glamorous–okay, number one. Number two, it’s hard work because you’ve got to make the effort to build your portfolio over the years.” The Evolution of the Nelson Nash Institute Nelson Nash saw IBC as a way for people to get their money out of Wall Street, and have greater safety, liquidity, and leverage. Nelson was so passionate about IBC that even at the age of 85 he was doing dozens of seminars a year, teaching people about IBC.  These seminars were hosted by insurance agents and other financial professionals all over the country. They’d hire Nelson and fly him out, and he’d share his wealth of knowledge with whoever was in the room. But, according to David, no one ever really asked the question: what are people doing with this information?  Because the reality was, people were applying the information to the wrong life insurance products. Or, agents were sending non-selling associates to listen to the information. There were just too many instances of the IBC message being watered down or twisted into something it wasn’t. But, they were still using Nelson’s name. That’s when David Stearns and a few others got together and decided that it would be critical to the future of IBC to implement a standard. That standard would become what is the Nelson Nash Institute and the IBC Practitioner Program, which was meant to hold advisors accountable to the information Nelson offered.  This would ensure that advisors couldn’t co-opt Nelson’s message, nor morph it into something that it isn’t meant to be.  How to Find an IBC Practitioner If you are ever interested to know whether or not you’re working with or connecting with an IBC practitioner, there’s a database you can check. The IBC Practitioner database is extremely useful in verifying who has been through the training and whether they are adhering to the rules and standards of IBC.  The benefit of working with someone who is in the program or completed it is that you can be sure of their character. An IBC Practitioner will have all the values that Nelson Nash and IBC have shared and cultivated. Those in the program also get the benefit of working with other Practitioners to boost their knowledge and skills. This ensures that the training is solid and standardized.  The fundamentals of IBC are critical to the success of an agent and their clients, so it’s critical that you work with someone who upholds those fundamentals.  David Stearns Shares The 5 Rules of IBC As David mentioned, IBC takes work. While you may be able to automate your premium payments, it’s not quite a “set-it-and-forget-it” product. You’ll have to work on it over time and be diligent in how you use it and construct your money habits.  Below are the rules of IBC that Nelson Nash came up with, at IBC Practitioners learn.  Think Long-Range Long-range thinking is one of the most important fundamentals of IBC. Not only does your IBC policy take time to be at it’s best, it’s going to be something you use over your whole life. And more than that, it’s a seed you plant for future generations: your children and your children’s children.  This is a wealth-building strategy and legacy that takes time and effort and intentionality. This is the gift of IBC—wealth building that benefits you now and later. Don’t Be Afraid to Capitalize It’s up to you to determine the purpose of your money. Likely, to some extent, that purpose includes being able to have experiences with your family or to do things you enjoy. Or, you may have the desire to invest in assets that will further grow your wealth. That’s all a part of financial freedom. Don’t be afraid to use your money or take a policy loan, that’s what it’s there for.  Of course, there are ways to be more efficient and wise with how you capitalize on your cash value. However, you should not be afraid to use your money for things that matter to you.  Don’t Steal the Peas “Don’t steal the peas” is a reference from Nelson’s book, “Becoming Your Own Banker.” By this, Nelson simply means that you shouldn’t shortchange yourself just because you can. If you owned a grocery store, in theory you could simply take something off the shelf—like a can of peas—if you wanted to, without saying anything. After all, it’s your store, who cares, right?  Yet when you steal those peas, you’re directly impacting your grocery store’s bottom line. Even if you don’t think it’s a big expense, it makes an impact. The same goes for policy loans—you have the flexibility to pay your loan however you wish. However, if you don’t come up with a responsible repayment schedule for yourself, you’re stealing the peas.  For the best results with IBC, you have to be a good steward of your money and your IBC policy. That means being a good steward of your loans and your policy. Making your PUAs when you can, paying the annual interest, and other actions keep you from stealing the peas. Don’t Do Business with Banks Part of Becoming Your Own Banker is just that… becoming your own banker. You are creating a system of wealth that you can leverage yourself so that you have the control and the power. Why would you want to put that control and power back in the hands of the bank? What you don’t want to do is use your policy for collateral with the banks, because you can already do that with the insurance company. Re-think Your Thinking Be willing to see the world in a new way. IBC requires that you throw away popular financial beliefs about debt,  investing, and Wall Street. You’ve got to be open to seeing the world and finances in a new way, and then implementing that. Bonus: Be Prepared for Windfalls As important as it is to be a good steward of your IBC policy and pay down those loans, you also want to have a place for windfalls. This could be windfalls from an inheritance, the lottery, or even a large unexpected bonus.  One way you can be prepared for a windfall is to have a policy loan. Then you can use that windfall to pay the loan back. You can also open a new policy with a windfall, or contribute it to your PUAs. The point is that you want somewhere to store a windfall where you can benefit from it, without squandering it. Because most people, when they get a windfall, end up spending it within a few years, and that’s not good stewardship. Be prepared and have a game plan for unexpected money.  About David Stearns David Stearns is Nelson Nash's son-in-law. Nelson recruited David to help with the administrative side of Infinite Banking Concepts, LLC in June 2004. Nelson asked David to take over the company to continue the IBC legacy in 2009. David retired from the U.S. Army as a Lieutenant Colonel. David served 27 years in the Army, first as a field artillery officer, then as an Army aviator. As with all military officers, he had a variety of assignments including command, operations, safety, and systems analysis/operations research. David served throughout the Continental U.S. and worldwide with a long tour in Egypt and multiple deployments to Germany, Korea, and Kuwait. David is the President of Infinite Banking Concepts LLC, which controls the distribution of Becoming Your Own Banker and Infinite Banking Concept materials, copyrights, and trademarks. IBC LLC manages the administrative activities of the Nelson Nash Institute. David has been a Director of the Nelson Nash Institute since the Institute's formation in 2013. David graduated from Buffalo State College in 1975 and received a Master's of Public Administration from Auburn University, Montgomery in 1992. He has been married to Kimberly Nash Stearns since 1979. They live in Birmingham, Alabama, and have four children and eight grandchildren. Book A Strategy Call Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? We can help!  Book an Introductory Call with our team today https://themoneyadvantage.com/calendar/, and find out how Privatized Banking, alternative investments, or cash flow strategies can help you accomplish your goals better and faster. That being said, if you want to find out more about how Privatized Banking gives you the most safety, liquidity,

Want tax-free retirement income? Tax-free money in retirement sounds amazing… at first glance. https://www.youtube.com/watch?v=mylXCXThFl0 But before you dive into this strategy, there are three things you need to know about why “Tax-Free Retirement” is a really bad idea. To find out exactly why you shouldn’t set up your financial game plan for tax-free retirement… tune in now! Table of contentsSetting FrameworksWhat is Tax-Free Retirement?“Don’t Let the Tax Tail Wag the Dog”Retirement is a Concept that Needs FixingHow to Change RetirementSo Why Shouldn’t You Do Tax-Free Retirement?Why Tax-Free Income is Not the Best First SolutionLife Insurance is InsuranceBook A Strategy Call Setting Frameworks When you’re presented with a certain lens or framework, it’s important to step back and consider:  Where is the information coming from? Who does this benefit?  What are the other options? These questions can go a long way in helping you determine whether a strategy is a good fit for you, whether it has merit, and how you should approach it.  The idea of tax-free retirement using whole life insurance is popular. Just the name alone makes it sound amazing. So why wouldn’t someone want to implement it? Keeping the above questions in mind, we’re going to unpack the nuances of this approach so that you can use that information to better your strategy. What is Tax-Free Retirement? The general idea of tax-free retirement is that you have set up a whole life insurance policy for maximum cash value growth that you can use for retirement income. The strategy suggests that after maximally funding a policy, you can choose to retire and use that cash value for retirement income. You use a certain formula to determine how much you can withdraw each year over a certain timeframe (instead of borrowing against it) without creating a taxable event.  The premise is that by saving into a whole life insurance policy, you can pull an income from your policy without paying taxes. And while this is true, there are certain disadvantages that people don’t often consider or discuss.  “Don’t Let the Tax Tail Wag the Dog” This concept comes from Garrett Gunderson, author of Killing Sacred Cows.  [14:10] “He talks about how you cannot ever make all of your financial decisions on the basis of, ‘How do I pay the least amount of tax?’ If you’re just looking at taxes, that’s a lens being put in front of your eye [saying], ‘Here’s the most important thing.’ Really, there’s not one most important thing; there’s a lot of factors that you need to consider.” When you only make financial decisions out of the fear of paying taxes, you’re acting from a place of scarcity. The scarcity mindset doesn’t serve you, because it prevents you from seeing other options or strategies that may be even better for you, depending on the purpose of your dollars. If you want to leave a large legacy to your children, but you choose a “tax-free retirement” strategy out of fear, you run the risk of disinheriting your children. This, of course, is not the outcome you want if you’re aiming for a legacy. So it’s important not to let fear dictate the lens through which you take financial action. Retirement is a Concept that Needs Fixing Let’s consider the typical retirement paradigm. Generally, you work from about age 20 or so until you’re somewhere between 60 and 70. In all of those working years, you work as hard as possible to make as much as possible. And hopefully, you save as much as possible. Then, when you’re ready to retire, you stop working completely and live off of what you’ve saved. You probably intend to continue living life at the same level of comfort and quality, so you take about the same income that you made when you had a job.  Unfortunately, many people only save about 10-20% of their income. But, they still want to live at 100% of what they’re used to. This means retirees are going through their money quickly—even with a tax-free retirement strategy.  [15:30] “The main reason why retirement is a really bad idea in the first place is that if you are stepping out of a position of working, you’re putting yourself out of service. To retire literally means to put out of use. And that means you’re in a position of no longer contributing to society in a way that is providing the value so that you can have an income. That’s putting you in a position of isolation.” It’s also a poor perspective of work because work shouldn’t be drudgery. You have the potential to create meaningful, fulfilling work. How to Change Retirement This isn’t to say that you have to have the same career forever. You don’t even have to work in the same capacity in your career forever. We simply want to encourage people to show up in the world by creating value. The income naturally follows.  Choosing this path of service also serves to keep you healthy, mentally active, and connected to your fellow humans. It’s a blessing to live this way, not only to you, but to all the people you bless. This type of thinking provides incredible relief in what would be our retirement years because you’re less concerned with running out of money (on top of these other excellent benefits).  So Why Shouldn’t You Do Tax-Free Retirement? You may be thinking, “Sure, I’m not going to retire in the literal sense. But I might slow down or do something different when I’m 70. Why wouldn’t I want to do a tax-free retirement strategy to supplement that?” One reason is that you could lose out on tax exemptions by not having your money in a taxable position. When you take a tax-free income, your income on your return is zero, which sounds great. You owe nothing to the IRS. However, you don’t get to benefit from the $25,900 deduction (for joint filers) either. They don’t pay that out to you because you didn’t have enough taxable income to offset. So it’s just lost. In other words, you’re losing the opportunity to take about $25,900 of taxable income each year without paying the taxes. The reason this is valuable is that you can take that money from any taxable account, and experience it without paying taxes. If you take a tax-free income from your whole life insurance, though, you’re limited to what you can withdraw without modifying the tax status of your policy.  You have the potential to create a much more robust economic environment for yourself if you’re not just thinking about taxes. Thinking about your business, your investments, your income, and the strategies you employ to make them synergistic are all critical components of wealth building.  Why Tax-Free Income is Not the Best First Solution Even after all this, you might think that taking tax-free income still sounds like a great idea for retirement. We’d like to suggest that it shouldn’t be your first solution. Hopefully, from the above information, you can see that we’re not against this strategy as a whole. We simply want to help you expand your idea of what’s possible, and how there are many things to consider besides taxes.  A critical strategy at any stage of life is to diversify. Often, this is only applied to investments. However, you can apply this to any aspect of your financial life. We’d even suggest that it’s better applied to your income and assets than an investment portfolio.  The reason is that you want to have three things: safety, liquidity, and growth. Most assets can only achieve one or two of those things. That’s why one strategy you might want to employ is a volatility buffer. That’s when you pull income from securities, a 401k, or other correlated accounts during “green” years. Then, in lean years (when there’s a downturn in the market), you can pull from your life insurance. This extends the life of both accounts and makes your income last much longer. Life Insurance is Insurance Another reason we recommend not relying on life insurance as your first resort for income is because it’s insurance. You’re buying insurance for the purpose of guarantees—guaranteed premium, guaranteed death benefit, and guaranteed cash value. It’s a tool for insurance first, and cash benefits second.  When you use life insurance as your first and only source of income, you run the risk of losing those benefits. If you want to leave a death benefit to your kids, eating up your policy risks leaving them with nothing. If you live to your endowment age, you run a similar risk.  Life insurance is a great supplementary tool to everything else you have going on. It makes your investments better, and that includes your retirement strategy. Life insurance gives you so many options when you have it and use it as a supplement. When you use it as your sole strategy, you severely limit your options.  Book A Strategy Call Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? We can help!  Book an Introductory Call with our team today https://themoneyadvantage.com/calendar/, and find out how Privatized Banking, alternative investments, or cash flow strategies can help you accomplish your goals better and faster. That being said, if you want to find out more about how the Infinite Banking Concept gives you the most safety, liquidity, and growth… plus boosts your investment returns, and guarantees a legacy, go to https://privatizedbankingsecrets.com/freeguide to learn more.

How does whole life insurance work out over the years? Today, we're looking at a real-world case study of someone with basic whole life insurance policies that have become very productive and efficient assets when held and used long-term.  https://www.youtube.com/watch?v=D0tsSgckpTY We'll discuss how policies for self, spouse, young kids, and future grandchildren work together. In particular, we'll see how the newest policies in Tom's family banking system have turned a corner. Now, they're accumulating more cash value than the cost of annual premiums. He then used these dollars to invest in cash-flowing assets that help fund the policies. We'll explore how you can establish policies for future grandkids to begin legacy planning. You'll learn how to use life insurance as a foundational piece of your kid's and grandkids' financial lives. If you want to see how Infinite Banking can work for your family ... tune in now! Table of contentsHow Tom Found Infinite BankingFirst Thoughts On Opening a Life Insurance PolicyHow Tom Feels About His Life Insurance Policy NowThe Power of Having Policies on Your ChildrenSelf-Sustaining PoliciesTom’s Family Banking SystemConnect with Tom SuvansriAbout Tom SuvansriBook A Strategy Call How Tom Found Infinite Banking [5:45] “The concept of infinite banking wasn’t talked about [when I started my whole life policy]...it was just a long-term savings vehicle that protects you from these bad things that could happen.” Tom shares that when he started his policy, he didn't even know about leveraging cash value. No one was talking about it. He was just aware that it was a suitable tool for saving money and protecting income. The knowledge about infinite banking came later.  Fortunately, Tom had the experience of those before him to draw on. His father had some universal life insurance that imploded, so they both knew to stay away from that structure of life insurance in the future. [6:48] “It’s just one of those sad stories, but you know, that was something that stuck with me. And so we got into talking around just a permanent whole life policy, right? From a mutual insurance company. Which, I didn’t understand what that meant at the time.” First Thoughts On Opening a Life Insurance Policy [12:46] “I think things through pretty deeply, and it took me a while to even get to there—to accept and get a policy. And I did initially, as I got into the first year or two when there was no cash, [feel skeptical]. I saw that, and it did sort of strike me as, ‘Did I do the right thing?’ I was a little concerned.” Tom opened this policy in 2003 and on top of still having his policy and benefitting from it, he now helps other people to implement Infinite Banking strategies. What helped him through these early years was to remind himself that it was a long-term product and that his results would not be overnight.  There’s a major mental hurdle to overcome because so many life decisions are short-term. We have to think and decide quickly, and expect to see quick results. But life insurance is a different beast. It’s something that takes time, and while you’re in the early stages it can be difficult to be patient. However, five to ten years down the line, you’ll be thanking your past self.  How Tom Feels About His Life Insurance Policy Now [14:25] “It’s so funny, I was kind of joking with my wife about [our policies]. Because every time I get an annual statement come through saying your premium is due, some people think of it like a bill. I’ll tell you, I give it a hug because I know what it’s done for us and our families. It’s secured so much for us over these years, and what it will do in the future—like I cannot wait to contribute to it.” Another added benefit of having a policy for 19 years is that as inflation impacts the value of a dollar, premiums actually feel like less. Premium payments are fixed payments, so inflation actually has the reverse effect on them.  The Power of Having Policies on Your Children From Tom’s initial life insurance policy, his “portfolio” has steadily grown as his life has changed. For example, as his family grew to include his two children, he opened whole life insurance policies for them both, starting in 2009. [29:35] “They were our fifth and sixth policies we put on the books. So we got smaller policies for them, I think their death benefit was like five hundred thousand at the time. And we just started because we said there’s savings for us, why not save for them? There could be some for college that they could use and protect them.” Now, these policies are both at the point where the cash value is increasing by more than what Tom and his wife are putting into the account. It took some time for the policies to become this efficient, but now that they are, his family has some great options. And his children are 13 and 16, which means they’re just starting to be at the age where they might want to finance larger purchases (like school or a business).  And one day, Tom even has the option to transfer the ownership of the policies to his children. Then, they could fund the policy and manage it on their own, and they’ll already have an incredible head start.  Self-Sustaining Policies In particular, Tom expresses how his life insurance policies have helped him to teach his children about financial concepts. For example, he and his wife have taken policy loans from his kid’s policies to invest in assets with cash flow. That cash flow is enough to pay their premiums and loans, essentially making their policies self-sustaining. This is a great way to educate your children from an early age about IBC, leverage, and the importance of saving money. Through these policies, he has created great freedom for his family. Tom’s Family Banking System [[8:20] “Right now we have ten policies within our family banking world—whole life policies. Like I said, the earlier ones were kind of basic. The last four have been infinite banking-designed policies.” These “IBC” policies are policies that have been designed specifically for early cash value growth. The base policies aren’t “bad” because they’ve still built up significant cash value for his family, and they’ve helped to protect his income and his family. Tom also has some term policies that he hopes to convert into whole life insurance down the line.  The big picture for the Suvansri family banking system is to one day fund the grandkids, once Tom’s kids have families of their own.  [39:20] “That’s my plan today. Maybe ask me ten years later, it might be different. But my tune is, today, this is where I’m trying to start this engine for my family long-term. And I see that as a priority for me.” Connect with Tom Suvansri Perennial Pride Perennial Pride Podcast About Tom Suvansri Tom Suvansri holds an MBA in finance from Penn State University. After working in the pharmaceutical industry for 15 years, he founded Perennial Pride.  Tom teaches his clients how banks, insurance firms, and brokerage houses make money. Then, he teaches them how to use those same strategies to build personal wealth with less risk. His work is informed by his life experiences. In particular, watching his parents, who lacked financial literacy, lose control of the wealth they worked so hard to build was a catalyst for learning. This very personal motivation drives Tom to serve the families, professionals, and business owners he works with to help them establish control, freedom, and certainty over their finances so they can live their best and create an impact that will last for generations. Book A Strategy Call Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? We can help!  Book an Introductory Call with our team today https://themoneyadvantage.com/calendar/, and find out how Privatized Banking, alternative investments, or cash flow strategies can help you accomplish your goals better and faster. That being said, if you want to find out more about how Privatized Banking gives you the most safety, liquidity, and growth… plus boosts your investment returns, and guarantees a legacy, go to https://privatizedbankingsecrets.com/freeguide to learn more.

The podcast explores the factors to consider when deciding if someone is ready for infinite banking. They discuss the importance of protecting income and having good saving habits. They explain why infinite banking is not considered an investment but a strategy with guarantees. They also talk about the mindset and qualities needed to start an infinite banking policy, such as having an abundance mindset and making long-term decisions for generational wealth.

Want to be more successful in your life and business, gain more recognition and respect, create more impact, accomplish your goals, reach financial targets, increase your income, and raise happy kids? Then it’s time you found a secret hidden in the timeless Jewish practice of Mussar, as shared by Ruchi Koval. https://www.youtube.com/watch?v=BQcMsQdidDQ It’s not where we usually start.  We look for strategies, scripts, tools, and tricks to beat the odds and get there faster. But today, motivational speaker, coach, and author of Soul Construction, Ruchi Koval shares the real keys to success that are found much deeper... by developing character.   So, if you want to become financially successful, then be prepared for a challenging, growing conversation that will help you have the right relationship with money… tune in now! Table of contentsWhat is Mussar?Why Does Character Development Matter?Money Doesn’t Define YouCharacter Development is a Lifelong ProcessConnect with Ruchi Koval About Ruchi KovalBook A Strategy Call What is Mussar? [5:12] “I was basically raised on the precepts of Mussar, from the time I was little enough to speak. So Musar is a concept of ethical character development… Throughout the generations, people have been asking themselves, ‘How can we make faith relevant to the next generation?’ One of the answers that came forth in the 1800s was this concept of Mussar, which had been in existence, but kind of latent—that a primary path to spirituality could be focusing on our character traits.” Before this, there were other popular schools of thought about how to achieve spirituality in the Jewish faith. It was Rabbi Yisroel Salanter who really brought this thinking to the forefront and inspired the Mussar movement. The Rabbi who founded the school that Ruchi attended was the son of a Mussar master. The character traits in question include things such as patience, kindness, joy, and humility. Ruchi also highlights that it’s also important to work on controlling your anger or allowing people to have their way.  [6:38] “That was as Jewish as charity and traveling to Israel and, you know, observing the Sabbath.” Why Does Character Development Matter? [8:43] “I believe that ancient Jewish wisdom is universal. That means that it can apply to anyone. That’s why this book that I wrote—Soul Construction—is not just targeted for Jews. It’s targeted for anybody, because I do believe that it’s universal wisdom. The point of Mussar is really self-transformation, but it definitely affects everybody around us.” Part of Mussar that Ruchi shares is to have your character traits in balance. Anything to an extreme, on either end of the spectrum, is unhealthy. For example, you must have generosity in balance. You want to tithe and be generous, but you also want to keep some of that money so you can do more with it and better your family. Ambition, too, can be a good thing, unless taken too far. Then, it becomes greed.  Keeping your character traits in balance not only allows you to be more spiritual, but it can also help you in your pursuit of certain things, like abundance. [11:55] “If I can get my character traits in balance, then my pursuit of money could be something that is fulfilling for me and my family, and will create harmony and not discord.  Money Doesn’t Define You [17:10] “So ancient Jewish wisdom actually teaches that money doesn’t define you… How much you have of it doesn’t define you at all.” In fact, Judaism recognizes wealth as a blessing from God. So earning a certain dollar amount cannot define you. It’s your attitude toward what you have and what you choose to do with it that defines you. If you’re generous, humble, and grateful, that speaks volumes no matter your income. It also speaks volumes if you’re miserly, snobbish, and conceited.  If you’re concerned about having entitled children because you’re leaving an inheritance, it’s critical to raise them not to be that way. Their character isn’t defined by what you leave to them. It depends on how you raise them to understand money, and how to treat other people. And parents must be clear and communicative with children. [23:12] “The most important thing we want to give to the next generation is values. And that can all be undone because of a messy will.” Character Development is a Lifelong Process [41:56] “That’s the concept of Mussar, truly, is that it’s a lifelong process. Because anything that is of value takes time. And this is just as applicable to money, right? I mean I tell this to my kids: if there’s some get-rich-quick scheme, it’s probably a scheme. Because real money takes time to build and grow and invest and earn.” Furthermore, in order to keep earning an income, you have to keep offering a quality product or service. There’s no real point at which you’re done—if you build a business or have an income, you’re always going to have to work at it. The same is for character development. You are always going to have to work for it. You’ll stumble, have to apologize, and need to build relationships back up.  Connect with Ruchi Koval  Soul Construction ruchi@jfxcle.org About Ruchi Koval Ruchi Koval is the co-founder and Associate Director of Congregation JFX, an innovative community in Cleveland, Ohio. She has been a Jewish educator for two decades, leading self-development groups for adults and teens, and mentoring educators around the world. Ruchi is a certified parenting coach, motivational speaker, musician, author, and mother. She is a Trip Leader for Momentum, inspiring hundreds of women on their journeys in Israel. She is also a columnist for the Cleveland Jewish News, and the author of two books: Conversations with God, and Soul Construction. Find Ruchi on Facebook and Instagram, on her blog at outoftheorthobox.com, and on her podcasts on iTunes or Spotify. Download her free Ruchi Koval app to listen to many of her lectures online. Book A Strategy Call Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? We can help!  Book an Introductory Call with our team today https://themoneyadvantage.com/calendar/, and find out how Privatized Banking, alternative investments, or cash flow strategies can help you accomplish your goals better and faster. That being said, if you want to find out more about how Privatized Banking gives you the most safety, liquidity, and growth… plus boosts your investment returns, and guarantees a legacy, go to https://privatizedbankingsecrets.com/freeguide to learn more.

The podcast discusses the multigenerational benefits of Infinite Banking, the concept of a family bank for perpetual wealth, and how to make Infinite Banking infinite. It also explores the importance of whole life insurance, the economic value of certainty in Infinite Banking, and the history and benefits of the concept. Tune in to learn how to increase opportunities and create lasting wealth.