Shownotes Transcript
In this week’s episode, Dave and Paul are doing their own take on “Are You Smarter Than a 5th Grader?” but with an IBC twist. They’ll be testing each other’s knowledge, as well as your own! From basic questions like “Is life insurance an investment?” and how fractionalized banking works – to more complex topics like “Parkinson’s Law”, your IBC know-how will be tested!
If you think that you’re ready to become your own banker – make sure you can clear this gauntlet first!
Becoming Your Own Banker by R Nelson Nash)
How Privatized Banking Really Works)
Episode Highlights:
0:00 - Introduction
0:27 - Episode beginning
4:08 - Is life insurance an investment?
6:03 - What is the most profitable business in the world
6:52 - Does IBC focus on rates of return?
10:02 - Banking is a…. Whole life insurance is a…
11:23 - Does IBC require short range or long-range thinking?
13:15 - What does “don’t steal the peas” refer to?
18:05 - How much interest do you lose on your average dollar?
19:15 - Creating “new money”
22:24 - When you buy something with cash are you financing that purchase?
23:23 - What type of life insurance company should you use?
23:56 - What are dividends?
25:07 - If the cash value grows tax deferred, how can you access it tax free?
26:40 - What is “Parkinson’s Law?”
28:45 - Willie Sutton’s Law
29:37 - “The Golden Rule”
30:41 - Should you treat IBC like any other insurance?
32:51 - What is the process to actually becoming your own banker?
34:20 - Wrap-up
ABOUT YOUR HOSTS:
David Befort and Paul Fugere are the hosts of the Wealth Warehouse Podcast. David is the Founder/CEO of Max Performance Financial. He founded the company with the mission of educating people on the truths about money.
David's mission is to show you how you can control your own money, earn guarantees, grow it tax-free, and maintain penalty-free access to it to leverage for opportunities that will provide passive income for the rest of your life.
Paul, on the other hand, is an Active Duty U.S. Army officer who graduated from Norwich University in 2002 with a B.A. in History and again in 2012 with a MA in Diplomacy and International Terrorism. Paul met his wife Tammy at Norwich.
As a family, they enjoy boating, traveling, sports, hunting, automobiles, and are self-proclaimed food people.
Catch up with David and Paul, visit the links below!
Website:
https://infinitebanking.org/agents/Fugere494)
https://infinitebanking.org/agents/Befort399)
LinkedIn:
https://www.linkedin.com/in/david-a-befort-jr-09663972/)
https://www.linkedin.com/in/paul-fugere-762021b0/)
Email: