Dave Ramsey says "Whole Life is C***." Here's why he's wrong
Wealth Talks
The Dave Ramsey baby step program doesn't include any whole life insurance. Why? Dave calls Whole Life Insurance C***. Is it cause he doesn't understand it? Or is it for another reason? We respond to Dave Ramseys argument against Whole Life Insurance here. Whole Life Insurance (only when designed correctly) can actually make The Dave Ramsey 7 baby step program better. Watch and see.
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Long term Infinite Banking policy results
Wealth Talks
This is a review of a Participating Whole Life Insurance policy, designed for infinite banking, that was purchased over 18yrs ago. We have access to the original sales illustration which showed projections of what the policy would look like into the future, and then we also have a current active illustration showing what has actually happened in this policy over the last 18yrs. This policy was well designed for Infinite Banking, with a good ratio of paid up additional insurance as well as base insurance. The actual numbers of this policy are quite a bit different than the original illustration...
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What is Wealth? | Episode 593
Wealth Talks
Wealth is generated is many unique ways. Often times we associate wealth with monetary status, but it has been insightfully said that true wealth is what you have left when all your money is gone. This is an interesting perspective indeed. In this episode we talk about how wealth is created (even with no monetary transaction), we talk about real estate purchases and planning, we give an update on our Dad, and also, we have changes coming to the Wealth Talks podcast. We share what that change is going to be.
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Rhinoceros Success | Episode 592
Wealth Talks
This Podcast episode is about a book we recently came across and enjoyed so much we wanted to share it with you. Rhinoceros Success by Scott Alexander and forward written by Dave Ramsey, is a short humorous motivational book about developing a mindset and way of life that brings success. Using animals as metaphors. This vivid fast paced book will have you chuckling and laughing as you learn the secrets to personal growth and persistence. Core Concepts of the book: The Rhino vs. the Cow: The book splits people into two groups. Cows represent complacency, passive acceptance, and mediocrity....
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Family Banking | Episode 591
Wealth Talks
Family Banking lets you Build, Protect, and Control Your Family’s Wealth. Our family has been doing family banking for 19 years. We teach other people how to set it up. If you want to get started with family banking, we would love to help you: go to our website here and request an appointment: What if your family could become its own source of financing? In this episode we explore how families can use a properly structured system with the principles of Infinite Banking to build a strong financial foundation. Family banking works on basic principles of trust and relationships built over...
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Make America Rich Again | Episode 590
Wealth Talks
Watch the video podcast on Youtube here: Join our discussion as we ponder: What does it mean to Make America Rich Again? Is America Rich like it once was? Steven doesn't think so...so how do we Make America Rich Again? Maybe Making America Rich Again isn't just about the money. How are the values of America doing? Is today's generation learning values and lessons from their parents and grandparents? How can people today become richer and enjoy a better quality of life? Is it possible to raise a family on a single income anymore? Is it possible to get rich in America today?...
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Infinite Banking... Then What? Episode 589
Wealth Talks
Is Infinite Banking the end all be all magic financial formula? No. However IBC can make everything you do financially better. Ben shares a recent example of how he used Infinite Banking to generate over 30% return in one of his businesses. This would not have been possible using a CD, 401k or other type of limited access investment tool. Using a well designed High Cash Value Participating Whole Life Insurance policy with Infinite Banking is an excellent building block to a successful financial foundation. It is a tool that gives you greater access, growth, control and return on your...
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Premium vs Cash Value | Episode 588
Wealth Talks
If you want to understand how an Infinite Banking Policy for 2026 should function and be designed, you are in the right place. We have been practicing and designing infinite banking policies for the past nearly 20 years. A lot has changed with insurance products and designs over this time. Here is what you need to know: The relationship between premium, cash value and death benefit in a whole life insurance policy designed for infinite banking. Cash value in a well designed infinite banking policy will rise to exceed premiums paid guaranteed. After the initial startup phase, the cash value...
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How Much Life Insurance Do You Need? | Episode 587
Wealth Talks
How much Life Insurance coverage you needs depends on what your goals are with leaving a death benefit and using the living benefits of your life insurance policy such as with Infinite Banking. This episode will help you understand how much insurance coverage you need. After listening, you'll have a better understanding of how life insurance works, and have some realistic expectations for what growth and guarantees look like with purchasing and owning whole life insurance. Contact: Follow the Wealth Talks Podcast on: Instagram: Facebook: Listen to the Wealth Talks Podcast...
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Loan Interest and Infinite Banking | Episode 586
Wealth Talks
If you want to learn about how policy loan interest works on a whole life insurance policy and how that works with Infinite Banking, this is the episode for you. Having the ability to take a policy loan is a huge financial benefit, but you want to make sure and understand how the interest works on a policy loan before you use it so that you don’t destroy this asset and create a liability for yourself. Listen and learn how the interest on a policy loan works, including a few guidelines on things you want to watch out for when taking a policy loan, as well as a tip on repaying loan interest to...
info_outlinehe SECURE Act was signed into law by President Trump on December 20, 2019. Here are some key changes you should know as you plan for retirement:
Generally, the SECURE Act:
- Removed Maximum Age limit for IRA Contributions
- Increased the age for Required Minimum Distributions (RMDs) from age 70.5 to 72
- Enforces a 10yr distribution window for most inherited retirement accounts - no more stretch IRAs
The SECURE Act is likely to increase age tax-qualified account balances because people will be encouraged to save more in these accounts. It will also increase government tax revenues because of the 10yr distribution rule on inherited accounts.
Also under the Secure Act, employers get a tax credit by automatically enrolling employees in the company sponsored retirement plan (Small-Employer Automatic Enrollment Credit). If you don’t want to be automatically enrolled into contributions to your company retirement plan you may need to take action to opt-out.
Now is a good time to consider how much of your money you wish to invest in tax-qualified accounts compared to paying the tax and building wealth in other types of accounts where you have more control, lower fees and less market risk.
For example: Target-date mutual funds are a default option for most retirement plans with an automatic enrollment. Target-date funds are sold as a “set it and forget it management strategy” and they are also notorious for high fees. Fees are a killer whenever you try to grow your money.
Compare target-date funds with the guaranteed values that build in participating whole life insurance policy over a similar time period. It could make sense to keep the control of your money and lock in guaranteed growth through life insurance + leave any legacy to your heirs income tax-free, instead of putting them into a higher tax-bracket with required distributions on an inherited tax-qualified account.
Wealth Workshop in Las Vegas Jan 18th - Register now
Most people are losing money with typical financial planning. Learn to use Life Insurance as a Financial tool while you’re living so you can keep more of the money you make and have financial peace of mind.