Infinite Banking Concept with Mark Willis
What beneficial financial behaviors can be learned from the ultra wealthy? Mark Willis breaks down a three part strategy that you can take and implement in your life!
Listen to us On
About the Episode
LifeBlood: We talked about the infinite banking concept. We discussed how while there are very few things we have complete control over, we can certainly exert greater influence on our situation, specifically our financial situations by paying closer attention to the environments in which our money resides.
Are you currently setting yourself up for a big tax liability when you reach retirement age? If so, do you think taxes will be higher or lower than they are today? We talked about how to evaluate your accounts, answer those questions and position yourself for success no matter what happens with tax rates in the future.
We discussed beneficial financial activities of the 25 wealthiest people in America, what strategies they employ to shelter their wealth and avoid paying unnecessary taxes, a three part strategy that’s been used for generations that you can take advantage of as well, and also ensure that wealth you create can continue on for generations.
We talked about how there are many different kinds of life insurance policies, but only one specific kind that will give you the benefits in order to complete this strategywith Mark Willis, CFP and Advisor with Lake Growth Financial Services, host of the Not Your Average Financial Podcast, helping people get more focused on their financial lives, gain greater control of their situation, growing their nest eggs with certain and getting overall peace of mind.
Listen to learn how to talk with your children and grandchildren to prepare the people for the money, so you’re not just preparing money for the people!
You can learn more about Mark at NotYourAverageFinancialPodcast.com, and LinkedIn.
Thanks, as always for listening! If you got some value and enjoyed the show, please leave us a review wherever you listen and subscribe as well.
You can learn more about us at MoneyAlignmentAcademy.com, Twitter, LinkedIn, Instagram, Pinterest, YouTube and Facebook or you’d like to be a guest on the show, contact George at [email protected].
George Grombacher
Lifeblood Host
Mark Willis
Guest
More Episodes
Best to Leave the Stones Where They Are
Here’s the problem; we don’t know what’s in one another’s hearts. I don’t know your true intentions and you don’t know mine. Therefore, I can choose to believe you, or not. We live in a time when people scour the internet to find a single world (written or...
Defined Contribution Fundamentals: 3 Key Areas
Defined contribution plans are a great place to save for retirement. In fact, it’s what they’re designed for. Different types of defined contribution plans are plans that receive special tax treatment from the IRS to incentivize people to save money for the long-term....
How to Change Your Mind
Is it better to be open or closed-minded? Would you rather be constantly learning, or stuck in your ways? The answer seems obvious, but we don’t act like it. Instead, we seem to have settled and dug into our positions, and have become aggressively...
How to Check In with Yourself to Avoid Self-Sabotaging Behavior
We all have the ability to “power through” things. To put our heads down and do what needs to be done, in spite of being exhausted, burned-out, or not feeling like it. And, we all do it. Besides, what choice do we have? All the things still need to get...
Understanding Disability Insurance
We spend a lot of money protecting things. There’s life insurance to protect our loves should something happen to us. Health insurance pays for the cost (or some of the cost) of medical care. Long term care insurance pays for skilled care should we need it when...
Understanding Car Insurance
Car accidents happen. We don’t cause them on purpose, which is why they’re called accidents. Being in a car accident can be a surreal and life-threatening experience. Hopefully, should you ever be involved in one, the only damage will be to the car. ...
Understanding House Insurance
It probably won’t surprise you that Ben Franklin was the Founder of the first home owners insurance company in the United States. His company, Philadelphia Contributionship for the Insurance of Houses from Loss by Fire was formed in 1752. For a long time,...
Understanding Umbrella Liability Insurance
Don’t I already have insurance that covers this? Probably. Your homeowners insurance and auto insurance commonly provide coverage for personal liability. But is it enough? That’s the key question I hope to help you answer. Understanding...
Understanding Identity Theft Protection
“That’ll never happen to me.” We buy insurance despite low odds of something bad happening. You and I are probably not going to die before we’re supposed to. But if we did, the consequences would be catastrophic. That’s why we buy life...
Join the show.
Interested in being on the show? Tell me a little bit more about you and what you’d like to talk about!