Infinite Banking Concept and a Modified Endowment Contract MEC
Wealth Talks
A good life insurance policy can become a Modified Endowment Contract when it fails the 7 pay test. What does that mean in plain terms? We explain in this episode. Learn what a MEC is (modified endowment contract) What if my Infinite Banking Policy becomes a MEC? Is a MEC bad? Can a MEC be good? How to avoid a MEC Why did the rules for life insurance change in 1988? What is the 7 pay test for life insurance? Learn the history of the MEC laws passing congress Podcast Episode 560: 📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: Follow the Wealth...
info_outline
Convertible Term Insurance
Wealth Talks
Converting term insurance into a permanent life insurance policy can allow you to recover the cost of your insurance in a matter of a few years, insure that your premium will never increase, your death benefit will never expire, and in addition to this, build cash value equity in your policy that will continue to accumulate and grow tax free. (listen to understand more about this) One of the best kept secrets about Life Insurance is convertible term insurance. Convertible term insurance allows you to take advantage of the low premiums of term insurance and lock in your insurability, and then...
info_outline
Infinite Banking Questions and Answers
Wealth Talks
If you have questions about Infinite Banking or Whole Life Insurance, this is the perfect episode for you. We go through a bunch of specific questions on Infinite Banking, Whole Life Insurance, Financial Strategies and the like; answering the questions in lots of detail. Resources for this episode are here: Gracine's video on single premium policies: Tom's video on 2 ways to pay property taxes: 📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: Follow the Wealth Talks Podcast on: Instagram: Facebook: Listen to the Wealth Talks Podcast on: YouTube:...
info_outline
Financial Planning
Wealth Talks
What is the most important factor in retirement planning? The philosophy and the financial habits you create. John does financial planning for clients. Today he shares details about how he goes about creating a successful financial plan. What is his goal when he advises his clients? How does he make projections for his clients? How do you make calculations based on future assumptions? Whats the best way to save for education? How do you plan for retirement? How much money is enough? Can you calculate that number? An important message on retirement is...
info_outline
White Coat Investor vs. Infinite Banking
Wealth Talks
On this episode we are discussing an article written by the White Coat Investor on Infinite Banking. The article is called 7 truths on Infinite Banking / Bank On Yourself. In this episode: Who is The White Coat Investor? Are the 7 "truths" of this article accurate? ... We discuss each of them today. Is The White Coat Investor consistent? Clarity on some confusion around infinite banking and whole life insurance Direct vs Non Direct recognition. What is an Infinite Banking Policy? Link to Tom McFie's article on the White Coat Investor: Follow the...
info_outline
Dave Ramsey...Then What?
Wealth Talks
Dave Ramsey has 7 recommendations: Start a $1000 emergency fund Implement a debt snowball strategy Have 3-6 months of expenses worth in savings Invest 15 % of your income Save for your children’s college tuition Pay off your house early Build wealth and give Are these 7 steps good to follow? Do they lead to financial success? Here's our opinion. Also in this episode: What is the difference between an Emergency Fund and a Cash Cushion? Expectations and positive thinking. Link to Dave Ramsey vs Infinite Banking binder:
info_outline
Infinite Banking and Chat GPT
Wealth Talks
We decided to ask Chat GPT questions about Infinite Banking. It was pretty accurate today, but it also had some serious errors. We ask Chat GPT, What is Infinite Banking? And it gives us an example. We ask Chat GPT, What about using Indexed Universal Life Insurance for Infinite Banking? Is Dave Ramsey correct about Infinite Banking? Can I use Infinite Banking for Retirement Income? This whole episode is questions we're asking to Chat GPT and other AI software, and then evaluating their responses. If you don't know about a subject, it can be hard to separate the facts from the...
info_outline
Infinite Banking In 2026. Here's What You Need to Know
Wealth Talks
How Infinite Banking is going to work in 2026. What's changing? What's staying the same? In this episode: *An update on Dad* His diagnosis, treatment and whats happening right now. Using Infinite Banking to keep your money growing at maximum efficiency Using Infinite Banking with Real Estate Why should you use Whole Life Insurance with Infinite Banking? Making a cash offer on a piece of real-estate Using Life Insurance and Infinite Banking for Retirement Using Infinite Banking to purchase a vehicle Can I start an Infinite Banking policy on my children and grandchildren? 📄 INFINITE...
info_outline
How to Buy A Car With Infinite Banking
Wealth Talks
This is the story of how Michael and Andreini used Infinite Banking to purchase their new car. A Toyota 4 Runner Limited, AWD, premium wheels and less than 9000 miles for $55,500. Infinite Banking allows you to put yourself in the driver seat of your own finances by providing access to financing under your own terms. No loan underwriting, no credit applications, you're in control. You'll hear in this episode how Infinite Banking served Michael and Andreini when they purchased their new vehicle. Because of Infinite Banking, they had negotiation leverage with the dealership and ended up...
info_outline
Retirement Planning
Wealth Talks
Planning for retirement. Is it smart to follow what everyone else is doing? Can Life Insurance help with your retirement strategy? What is a 401k? What is a 7702? We discuss planning for retirement in this episode and the many different options and approaches that are available, and what people choose. Listen and get all the details now. 📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: Follow the Wealth Talks Podcast on: Instagram: Facebook: Listen to the Wealth Talks Podcast on: Apple Podcasts: Spotify:
info_outlineWhat is the most important factor in retirement planning? The philosophy and the financial habits you create.
John does financial planning for clients. Today he shares details about how he goes about creating a successful financial plan.
- What is his goal when he advises his clients?
- How does he make projections for his clients?
- How do you make calculations based on future assumptions?
- Whats the best way to save for education?
- How do you plan for retirement?
- How much money is enough? Can you calculate that number?
An important message on retirement is found in a parable of the Bible. A rich farmer who had an abundance of grain, decided to tare down his barns and build bigger ones to store up all his wealth. God rebuked this man for his actions and said to him, "You fool! This very night your soul is required of you; and now who will own all the things you have prepared?" Luke 12:20
The take away from this is, there is a problem with greed and just storing up money for your own wants desires and needs and neglecting some of the more important things, like what happens to your soul when you die, or caring for the needs of those around you.
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://pages.mcfieinsurance.com/infinite-banking-made-simple-binder/?utm_source=mcfieinsurance.com&utm_medium=link&utm_campaign=podcast
Follow the Wealth Talks Podcast on:
Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet
Facebook: https://www.facebook.com/profile.php?id=61554798231074
Listen to the Wealth Talks Podcast on:
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8