Dollars and Nonsense
Dollars and Nonsense focuses on helping individuals and families find financial freedom by leveraging the Infinite Banking Concept. The podcast delivers real-world tips, tricks, and techniques for anyone wanting to take their wealth to the next level. We do all this through the hosts sharing their vast knowledge and sitting down with experts. Plus, the show is for the average person—you don’t have to be a financial expert or an economics professor to get a metric ton out of every episode. We extract priceless resources and action steps for you and deliver them in a 30-minute bi-monthly show. Learn more about the show by visiting https://livingwealth.com/podcast/ Infinite banking is a financial strategy, sometimes called IBC, or the infinite banking concept, that allows you to control your savings and debt needs, helping you become your own banker, in essence. It was formalized by finance expert R. Nelson Nash in the early 1980s. But its roots go back much further.
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E253: Joey Mure
10/22/2024
E253: Joey Mure
In this episode, I interview my good friend Joey Mure from Wealth Without Wall Street, a very well-known and well-loved infinite banking company and podcast show. Enjoy! --- Stuck in traditional banking systems and feel like there's no better way? Most people never question the banking structure they use every day. Discover how to create your own banking system and leverage the six principles of infinite banking to revolutionize your financial strategy and secure your future. 📒Free Infinite Banking Resources 📒 =========================== Want to become your own banker and build a solid financial strategy? Check out our FREE Infinite Banking Foundations course: =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Michael Duryea began his apprenticeship with Living Wealth in 2018. He is the former head of sales and new President of Living Wealth who has 9 whole life policies of his own that he uses every month to finance investments and the things of life. Michael is excited and deeply honored to have the opportunity to lead Living Wealth into the future by serving clients to the utmost. =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter:
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E252: Shane Tiffany
10/08/2024
E252: Shane Tiffany
In this episode, I interview big brother Shane Tiffany, a great friend and AVID fellow IBC-er. We discuss our IBC journey together! TUNE IN AND ENJOY! --- Stuck in traditional banking systems and feel like there's no better way? Most people never question the banking structure they use every day. Discover how to create your own banking system and leverage the six principles of infinite banking to revolutionize your financial strategy and secure your future. 📒Free Infinite Banking Resources 📒 =========================== Want to become your own banker and build a solid financial strategy? Check out our FREE Infinite Banking Foundations course: =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Michael Duryea began his apprenticeship with Living Wealth in 2018. He is the former head of sales and new President of Living Wealth who has 9 whole life policies of his own that he uses every month to finance investments and the things of life. Michael is excited and deeply honored to have the opportunity to lead Living Wealth into the future by serving clients to the utmost. =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter:
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E251: Base vs. PUA
10/01/2024
E251: Base vs. PUA
In this episode, I talk about one of the most common questions that we get at Living Wealth, especially recently: the difference between base premium and PUA premium. --- Stuck in traditional banking systems and feel like there's no better way? Most people never question the banking structure they use every day. Discover how to create your own banking system and leverage the six principles of infinite banking to revolutionize your financial strategy and secure your future. 📒Free Infinite Banking Resources 📒 =========================== Want to become your own banker and build a solid financial strategy? Check out our FREE Infinite Banking Foundations course: =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Michael Duryea began his apprenticeship with Living Wealth in 2018. He is the former head of sales and new President of Living Wealth who has 9 whole life policies of his own that he uses every month to finance investments and the things of life. Michael is excited and deeply honored to have the opportunity to lead Living Wealth into the future by serving clients to the utmost. =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter:
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E250: Larry Jessup
09/24/2024
E250: Larry Jessup
In this episode, I interview my grandfather Larry Jessup about his life over the last 85 years. Grandpa is a hard-working successful entrepreneur, an actor, business owner, and a faithful disciple of the Lord Jesus. I credit my walk with the Lord largely to the influence of my grandfather, and my relationship with him is a deep, central part of who I am. I hope you enjoy this episode with him! --- Stuck in traditional banking systems and feel like there's no better way? Most people never question the banking structure they use every day. Discover how to create your own banking system and leverage the six principles of infinite banking to revolutionize your financial strategy and secure your future. 📒Free Infinite Banking Resources 📒 =========================== Want to become your own banker and build a solid financial strategy? Check out our FREE Infinite Banking Foundations course: =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Michael Duryea began his apprenticeship with Living Wealth in 2018. He is the former head of sales and new President of Living Wealth who has 9 whole life policies of his own that he uses every month to finance investments and the things of life. Michael is excited and deeply honored to have the opportunity to lead Living Wealth into the future by serving clients to the utmost. =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter:
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E249: Ray Poteet, December 2018
09/17/2024
E249: Ray Poteet, December 2018
In this episode Michael Duryea provides a brief update on the podcast, and we re-air a podcast episode with the one and only Ray Poteet talking about infinite banking! This episode with Ray as special guest was originally aired in December of 2018. --- Stuck in traditional banking systems and feel like there's no better way? Most people never question the banking structure they use every day. Discover how to create your own banking system and leverage the six principles of infinite banking to revolutionize your financial strategy and secure your future. 📒Free Infinite Banking Resources 📒 =========================== Want to become your own banker and build a solid financial strategy? Check out our FREE Infinite Banking Foundations course: =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Michael Duryea began his apprenticeship with Living Wealth in 2018. He is the former head of sales and new President of Living Wealth who has 9 whole life policies of his own that he uses every month to finance investments and the things of life. Michael is excited and deeply honored to have the opportunity to lead Living Wealth into the future by serving clients to the utmost. =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter:
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E248: Re-airing Ray Poteet!
09/10/2024
E248: Re-airing Ray Poteet!
In this episode Michael Duryea provides a brief update on the podcast, and we re-air a podcast episode with the one and only Ray Poteet talking about infinite banking! This episode with Ray as special guest was originally aired in February of 2018. --- Stuck in traditional banking systems and feel like there's no better way? Most people never question the banking structure they use every day. Discover how to create your own banking system and leverage the six principles of infinite banking to revolutionize your financial strategy and secure your future. 📒Free Infinite Banking Resources 📒 =========================== Want to become your own banker and build a solid financial strategy? Check out our FREE Infinite Banking Foundations course: =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Michael Duryea began his apprenticeship with Living Wealth in 2018. He is the former head of sales and new President of Living Wealth who has 9 whole life policies of his own that he uses every month to finance investments and the things of life. Michael is excited and deeply honored to have the opportunity to lead Living Wealth into the future by serving clients to the utmost. =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter:
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E247: The Nate Scott Finale!
09/03/2024
E247: The Nate Scott Finale!
In this podcast, Nate and Michael discuss Nate's final 3 takeaways he wants to leave the audience with as he steps down from podcast. --- Stuck in traditional banking systems and feel like there's no better way? Most people never question the banking structure they use every day. Discover how to create your own banking system and leverage the six principles of infinite banking to revolutionize your financial strategy and secure your future. 📒Free Infinite Banking Resources 📒 =========================== Want to become your own banker and build a solid financial strategy? Check out our FREE Infinite Banking Foundations course: =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Nate Scott is an Infinite Banking expert and President of Living Wealth with over a dozen whole life insurance policies that he’s used for the past 12 years to make profitable investments. He created the "Dollars and Nonsense" podcast to explain the ins and outs of Infinite Banking, helping you take control of your finances and achieve true financial freedom. Michael Duryea began his apprenticeship with Living Wealth in 2018. He is the former head of sales and new President of Living Wealth who has 9 whole life policies of his own that he uses every month to finance investments and the things of life. Michael is excited and deeply honored to have the opportunity to lead Living Wealth into the future by serving clients to the utmost. =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter:
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E246: Two Biggest Hangups for IBCers
08/27/2024
E246: Two Biggest Hangups for IBCers
Stuck in traditional banking systems and feel like there's no better way? Most people never question the banking structure they use every day. Discover how to create your own banking system and leverage the six principles of infinite banking to revolutionize your financial strategy and secure your future. 📒Free Infinite Banking Resources 📒 =========================== Want to become your own banker and build a solid financial strategy? Check out our FREE Infinite Banking Foundations course: =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Nate Scott is an Infinite Banking expert and President of Living Wealth with over a dozen whole life insurance policies that he’s used for the past 12 years to make profitable investments. He created the "Dollars and Nonsense" podcast to explain the ins and outs of Infinite Banking, helping you take control of your finances and achieve true financial freedom. Michael Duryea began his apprenticeship with Living Wealth in 2018. He is the former head of sales and new President of Living Wealth who has 9 whole life policies of his own that he uses every month to finance investments and the things of life. Michael is excited and deeply honored to have the opportunity to lead Living Wealth into the future by serving clients to the utmost. =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter:
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E245: Infinite Banking as a Platform
08/19/2024
E245: Infinite Banking as a Platform
Stuck in traditional banking systems and feel like there's no better way? Most people never question the banking structure they use every day. Discover how to create your own banking system and leverage the six principles of infinite banking to revolutionize your financial strategy and secure your future. 📒Free Infinite Banking Resources 📒 =========================== Want to become your own banker and build a solid financial strategy? Check out our FREE Infinite Banking Foundations course: =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Nate Scott is an Infinite Banking expert and President of Living Wealth with over a dozen whole life insurance policies that he’s used for the past 12 years to make profitable investments. He created the "Dollars and Nonsense" podcast to explain the ins and outs of Infinite Banking, helping you take control of your finances and achieve true financial freedom. Michael Duryea is the former head of sales and new President of Living Wealth who has 9 whole life policies of his own that he uses every month to finance investments and the things of life. Michael is excited and deeply honored to have the opportunity to lead Living Wealth into the future by serving its clients to the utmost. =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter:
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📣BIG NEWS: Living Wealth Welcomes New President
08/06/2024
📣BIG NEWS: Living Wealth Welcomes New President
After much prayer and consideration, Nate Scott is stepping down as president to follow his calling in ministry. Michael Duryea will take over as President of Living Wealth, continuing our mission. While transitions can be challenging, we are confident that God's hand is in this. Living Wealth remains committed to serving our clients and community, driven by the same values and dedication as always. As we navigate this change, we ask for your support and understanding. We believe the future is bright and filled with potential, and we're excited to see where this new chapter will lead. 🙏 Stay tuned for more updates, and thank you for being a part of our Living Wealth family. =========================== 📒Free Infinite Banking Resources 📒 =========================== Want to become your own banker and build a solid financial strategy? Check out our FREE Infinite Banking Foundations course: =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter: ========================== #InfiniteBanking #LivingWealth #BecomeYourOwnBanker
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E244: The 6 Principles Of Infinite Banking
07/23/2024
E244: The 6 Principles Of Infinite Banking
Stuck in traditional banking systems and feel like there's no better way? Most people never question the banking structure they use every day. Discover how to create your own banking system and leverage the six principles of infinite banking to revolutionize your financial strategy and secure your future. 📒Free Infinite Banking Resources 📒 =========================== Want to become your own banker and build a solid financial strategy? Check out our FREE Infinite Banking Foundations course: =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Nate Scott is an Infinite Banking expert and President of Living Wealth with over a dozen whole life insurance policies that he’s used for the past 12 years to make profitable investments. He created the "Dollars and Nonsense" podcast to explain the ins and outs of Infinite Banking, helping you take control of your finances and achieve true financial freedom. =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter:
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E243: Does Faith Affect Your Finances?
07/16/2024
E243: Does Faith Affect Your Finances?
Do you let your faith influence your finances? Most people don’t involve God or their faith when it comes to building a financial strategy. Find out how to fully unleash your financial potential by making room for God to show up in your life and discovering ways to step out of your comfort zone. 📒Free Infinite Banking Resources 📒 =========================== Want to become your own banker and build a solid financial strategy? Check out our FREE Infinite Banking Foundations course: =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Nate Scott is an Infinite Banking expert and President of Living Wealth with over a dozen whole life insurance policies that he’s used for the past 12 years to make profitable investments. He created the "Dollars and Nonsense" podcast to explain the ins and outs of Infinite Banking, helping you take control of your finances and achieve true financial freedom. =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter: =========================== ⏰ Timestamps ⏰ 00:00 The Role of Faith in Life and Finances 01:05 The First Miracle: Lessons from the Wedding at Cana 02:35 Trusting God’s Timing 03:53 Opening Doors Through Faith 06:04 The Impact of Obedience 07:02 Challenging Conventional Financial Planning 08:08 Faith as a Foundation for Financial Decisions 10:13 Transformative Faith in Financial Strategies 14:48 Seeking Transformation Over Transactions 17:24 Living a Faith-Filled Financial Life
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E242: The Top Financial Experts Investment Strategy
07/09/2024
E242: The Top Financial Experts Investment Strategy
Are you gambling with your investments without even knowing it? Learn how to use the Risk-Reward Quadrant to evaluate opportunities like a seasoned pro and avoid common mistakes new investors make. 📒 Show Notes and Resources 📒 Build a solid financial strategy with our FREE Infinite Banking Foundations course—the ultimate guide to becoming your own banker and mastering investment security. =========================== Subscribe and Listen to the Podcast HERE:📱 ➡︎YT: ➡︎Apple: ➡︎Spotify: =========================== Nate Scott is an Infinite Banking expert and President of Living Wealth with over a dozen whole life insurance policies that he’s used for the past 12 years to make profitable investments. He created the "Dollars and Nonsense" podcast to explain the ins and outs of Infinite Banking, helping you take control of your finances and achieve true financial freedom. =========================== Let’s Connect! Website: LinkedIn: Instagram: FaceBook: Twitter: =========================== ⏰ Timestamps ⏰ 00:00 Introduction 01:09 Risk Reward Quadrant 03:04 Low Risk-Low Reward Quadrant 06:20 High Risk Quadrants 07:09 Application and Investment Strategy Development =========================== #InfiniteBanking #LivingWealth #BecomeYourOwnBanker
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E241: The 3 Pillars of A Fulfilling Life
07/02/2024
E241: The 3 Pillars of A Fulfilling Life
Want to become your own banker and build financial independence through infinite banking? ! ------------------------------------------------------------------------------------------------------------ In this episode, Nate Scott discusses the three pillars of a fulfilling life: faith, community, and purpose. He goes into detail about how each pillar can affect the way we live, using examples from his own life and explaining how faith, community, and purpose can also be applied to finances to increase wealth-building potential. Find the free resources mentioned in this episode here: ------------------------------------------------------------------------------------------------------------ Get instant access to our FREE Infinite Banking course here now: ------------------------------------------------------------------------------------------------------------ Key Takeaways: Faith can guide your financial decisions, reduce stress about money and provide a sense of peace during uncertain times. Community and collaborating with others can open opportunities and provide support, multiplying your efforts and results. Purpose directs your financial actions, ensuring they align with your personal goals and lead to meaningful success. Fulfillment is more important than rate of return because true financial success isn't measured by numbers but by how those numbers help you live the life you want. ------------------------------------------------------------------------------------------------------------ Watch This Next ➡️ ------------------------------------------------------------------------------------------------------------ CHAPTERS: 03:49 The Role of Faith in Fulfillment and Finance 04:21 The Power of Community in Building Wealth 06:38 Purpose-Driven Financial Strategies 14:53 Achieving Fulfillment Beyond Financial Returns 22:06 Integrating Infinite Banking into Your Life
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E240: Why Retirement Programs Don’t Lead To Financial Independence
06/25/2024
E240: Why Retirement Programs Don’t Lead To Financial Independence
In this episode, Nate Scott unveils the real reasons why retirement programs fail to produce financial independence for most people. He explains how they create a passive environment that is not conducive to wealth building, and how the timing of the market may not align with your life's timing, making you constantly financially vulnerable. Nate advises people to focus on becoming financially independent through active wealth building strategies, such as infinite banking. Ready to become your own banker and build financial independence through infinite banking? ! Key Takeaways: Retirement programs create a passive mindset that makes consistent wealth building impossible. Retirement programs do not do a good job of producing passive income. The timing of the market may not align with your life's timing. Focus on becoming financially independent through active wealth building strategies can lead to a higher chance of success. Episode Resources: Gain FREE access to our Infinite Banking Course
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E239: The 3 Pillars of Financial Independence
06/18/2024
E239: The 3 Pillars of Financial Independence
In this episode, Nate Scott explores the three critical pillars of financial independence—income, security, and control—and reveals how Infinite Banking offers a unique pathway to achieve these goals. Drawing from personal experience, Nate illustrates how Infinite Banking serves as a cornerstone for building passive income streams, ensuring financial security, and retaining control over one's financial destiny. He invites listeners to embrace Infinite Banking as a powerful tool for transforming their financial future and attaining lasting independence. Ready to break free from the traditional financial system and become financially independent through infinite banking? ! Key Takeaways: The Quest for Financial Independence: Financial independence is the ultimate goal for many, but traditional financial strategies often fall short of achieving true independence. The Three Pillars of Financial Independence: Income, security, and control are the three essential pillars for achieving financial independence. Without balance across all three, you can’t achieve true independence. The Role of Infinite Banking: Infinite Banking offers a unique approach to financial freedom, providing a foundation for building passive income streams, ensuring financial security, and retaining control over one's financial future. The Value of Infinite Banking: The true value of Infinite Banking is not only in the policies themselves but in the way you can leverage them to achieve financial freedom. Episode Resources: Gain FREE access to our Infinite Banking Course
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E238: How Infinite Banking Can Reshape Your Financial Mindset
06/11/2024
E238: How Infinite Banking Can Reshape Your Financial Mindset
In this episode, Nate Scott discusses how to retrain your mind to see finances differently and overcome limiting beliefs. He explains that our brains filter information that seems unimportant to simplify decision-making, but this often leads to scarcity thinking and missed opportunities. That’s why Nate introduces the concept of infinite banking as a way to retrain your mind to think differently about money. He highlights three pivotal shifts in mindset: realizing you don't have to take risks to make money, understanding that your money can serve multiple purposes simultaneously, and recognizing that business and investment opportunities are everywhere. Ready to build generational wealth and financial independence through infinite banking? ! Key Takeaways: Our brains filter information to simplify decision-making and protect us, but this can lead to scarcity thinking and missed opportunities. Infinite banking can retrain your mind to think differently about money and see new opportunities. Shift your mindset to realize you don't have to take risks to make money. Understand that your money can serve multiple purposes simultaneously. Recognize that business and investment opportunities are everywhere. Retrain your mind to see new opportunities and update your perspective on finance. Episode Resources: Gain FREE access to our Infinite Banking Course
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E237: Can You Practice IBC Without Whole Life Insurance?
06/04/2024
E237: Can You Practice IBC Without Whole Life Insurance?
In this episode, Nate Scott dives into whether it is possible to do infinite banking without using whole life insurance. He explores alternative financial strategies such as velocity banking and borrowing against brokerage accounts, comparing and contrasting them with the principles of infinite banking. While acknowledging the effectiveness of these alternatives for cash flow management and asset building, Nate explains that whole life insurance policies offer unique benefits for wealth accumulation and creating a banking asset with guaranteed returns. Ready to become your own banker and build financial independence through infinite banking? ! Key Takeaways: Infinite Banking Versatility: While infinite banking principles can be applied without whole life insurance, they may not offer the same unique benefits. Alternative Financial Tools: Strategies like velocity banking and borrowing against brokerage accounts can be effective for cash flow management and asset building. Unique Benefits of Whole Life Insurance: Whole life insurance policies offer a secure and guaranteed method to build wealth and create a banking asset that produces value in various aspects of life. Personalized Financial Choices: Choosing the right financial tool depends on individual preferences and objectives, with each option offering distinct advantages tailored to specific financial goals and circumstances. Episode Resources: Gain FREE access to our Infinite Banking Course
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E236: How IBC Client Overcame The Scarcity Mindset
05/28/2024
E236: How IBC Client Overcame The Scarcity Mindset
In this episode, Nate Scott sits down with Corey Carpenter, an anesthesiologist and long-time client of Living Wealth, to discuss Corey's financial transformation. Corey shares his journey from being overworked and burned out to adopting the empire over retire mindset and building a life that he doesn't have to retire from. They discuss the importance of relinquishing control and trusting in God's plan, the true fulfillment that comes from living in the present moment and focusing on quality of life, and using infinite banking to build capital and create opportunities for himself and others. Ready to break free from the traditional financial system and become financially independent through infinite banking? ! Key Takeaways Adopting the empire over retire mindset can lead to a total financial transformation. Reading books like Antifragile can change your outlook on life and money. Experiencing boom and bust cycles can shape your mindset and financial decisions. The scarcity mindset can be both beneficial and detrimental, and it's important to reassess its impact on your life. Transitioning from a conventional wealth-building formula to the infinite banking concept can provide a new perspective on financial freedom. Seeking an abundant life involves reevaluating priorities, creating margin, and finding balance between work and personal life. True fulfillment comes from living in the present moment and focusing on quality of life. Building capital allows for the creation of opportunities for oneself and others. Investing in non-traditional assets like cryptocurrency can be a part of an Antifragile financial strategy. Episode Resources: Gain FREE access to our Infinite Banking Course
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E235: Why People Think Whole Life Insurance Is a Scam
05/21/2024
E235: Why People Think Whole Life Insurance Is a Scam
In this episode, Nate Scott dives into the whole life insurance debate by presenting five reasons why people believe infinite banking is a scam, and five opposite reasons why people like whole life insurance. His goal is to bridge the gap between those who support and those who criticize whole life insurance. Nate acknowledges the valid concerns of skeptics while also highlighting the benefits that attract many to the infinite banking concept. By offering a nuanced discussion, Nate hopes to encourage listeners to consider different viewpoints when making financial decisions. Key Takeaways Criticisms of Infinite Banking: its expense, the belief that agents' are only in for commissions, lower rate of return, the idea that you’re “borrowing from yourself”, and the perception of the insurance company taking the cash value upon death. Reasons for Choosing Whole Life Insurance: its long-term growth potential, contractual access to money, built-in estate and legacy planning, the ability to fund other investments, and the potential for safe, tax-free passive income. Bridging the Gap: Understanding both sides of the debate can help bridge the gap and foster understanding between proponents and critics of whole life insurance. Episode Resources: Gain FREE access to our Infinite Banking Course
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E234: How Holly’s Cancer Diagnosis Changed Her View on Life and Money
05/14/2024
E234: How Holly’s Cancer Diagnosis Changed Her View on Life and Money
In this episode, co-hosts Holly and Nate discuss how her perspective on money and life has changed since her cancer diagnosis. They encourage listeners to live a life they love today, rather than waiting for a future that is not guaranteed. Holly emphasizes the importance of waking up every day and choosing to do what you love, understanding your purpose, and being in God's will. They discuss the significance of relationships, the dangers of seeking control, and the freedom that comes from surrendering to God's plan. They also highlight the benefits of implementing Infinite Banking and having a financial plan that aligns with biblical principles. Key Takeaways: Live a life you love today, rather than waiting for a future that is not guaranteed. Wake up every day and choose to do what you love. Finding your purpose and being in God's will brings fulfillment. Prioritize nurturing and investing in meaningful relationships. Instead of striving for control, focus on managing stress and avoiding burnout. Integrating Infinite Banking into your financial strategy offers both freedom and security. Crafting a financial plan rooted in biblical principles can lead to lasting benefits and peace of mind. Episode Resources: Gain FREE access to our Infinite Banking Course
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E233: How Infinite Banking Impacts Your Personal Income Statement and Balance Sheet
05/07/2024
E233: How Infinite Banking Impacts Your Personal Income Statement and Balance Sheet
In this episode, Nate Scott discusses the confusion that happens when you misclassify policy transactions as income statement transactions instead of balance sheet transactions. Nate explains the difference between income statement and balance sheet and how they interact with each other. He provides examples of income sources and expenses and how they affect the net free cash flow. Nate also discusses the movement of money on the balance sheet, including the impact of policy loans and repayments. He ends the episode by emphasizing the importance of understanding the classification of policy transactions and their impact on the overall financial picture. Key Takeaways Misclassifying policy transactions can lead to confusion and misunderstanding of their impact on personal finances. Income statement transactions and balance sheet transactions are different and should be classified correctly. Understanding the movement of money on the balance sheet is crucial for effective financial management. Policy loans and repayments are balance sheet transactions and do not add new expenses to the income statement. Episode Resources: Gain FREE access to our Infinite Banking Course
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E232: Top 5 FAQs About Infinite Banking
04/30/2024
E232: Top 5 FAQs About Infinite Banking
In this episode, Nate Scott answers the five most frequently asked questions about infinite banking. He talks about the importance of choosing the right insurance company, how policies continue to grow even when borrowed against, the difference between direct recognition and non-direct recognition, the pros and cons of different policy designs, and the whether or not you should run all finances through a policy. Nate emphasizes the need for individualized approaches and recommends starting with a solid foundation before considering more complex strategies. Key Takeaways: To practice infinite banking, choose a mutual life insurance company that offers dividend-paying whole life policies. Policies continue to grow even when borrowed against because the insurance company lends money against the policy's cash value, which still earns interest and dividends. Direct recognition and non-direct recognition refer to how insurance companies apply dividends to policies with loans. The design of a policy, including the base premium and paid-up additions, depends on individual circumstances and goals. Running all finances through a policy is not recommended for most people. It is important to start with a solid foundation, understand cash flow, and gradually incorporate policies into financial strategies. Individual circumstances and goals play a significant role in determining the best approach to infinite banking. Episode Resources: Gain FREE access to our Infinite Banking Course
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E231: Should I Use Infinite Banking Policies To Fund All My Investments?
04/23/2024
E231: Should I Use Infinite Banking Policies To Fund All My Investments?
In this episode, Nate Scott walks us through the types of investments that make sense to fund using Infinite Banking policies and those that may not be a good fit. He explains why investments that produce cash flow, like real estate, private lending, and business expansion, work well with IBC. On the other hand, long-term passive investments, such as retirement programs and stock market investments, may not be a perfect match for IBC. Nate also mentions the option of using policies to repay any debts and highlights the importance of understanding your financial goals before deciding how involved you want to be with IBC. Key Takeaways: Investments that produce cash flow, such as real estate and business expansion, work well with IBC policies. Using IBC policies to fund investments allows you to repay policy loans and reuse the capital. Long-term passive investments, like retirement programs and stock market investments, may not be a perfect fit for IBC. Using policies to pay down debt can provide a guaranteed rate of return. Episode Resources: Gain FREE access to our Infinite Banking Course
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E230: 3 Reasons Why People Own Multiple IBC Policies
04/16/2024
E230: 3 Reasons Why People Own Multiple IBC Policies
In this episode, Nate breaks down the three main reasons why people who practice Infinite Banking end up with multiple policies. He explains what a MEC limit is, and what benefits you can get from insuring other people, like spouses, children, or even business partners. Nate dives into how policies can be strategically used for different purposes, like covering taxes or supporting charitable causes. He ends the episode by emphasizing that the number of policies doesn't matter as much as the total amount of premium being contributed. Key Takeaways: 3 main reasons why people own multiple policies while practicing IBC: Every policy has a MEC limit, which determines the maximum amount of money that can be funded into it. Owning policies on other people, such as spouses, children, and business partners, can provide additional benefits. Policies can serve different functions, such as paying taxes or charitable giving. The number of policies doesn't matter as much as the total amount of premium being contributed. Episode Resources: Gain FREE access to our Infinite Banking Course
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E229: Inside Look At My Policy: IBC Goes Beyond Arbitrage!
04/09/2024
E229: Inside Look At My Policy: IBC Goes Beyond Arbitrage!
In this episode, Nate debunks the idea that infinite banking is some magical arbitrage situation. He explains that infinite banking is about managing capital efficiently and using whole life insurance policies as a capital warehouse. He breaks down the misconceptions surrounding arbitrage in infinite banking and emphasizes that borrowing from policies is not dependent on the policy's growth rate. Nate also highlights the potential for tax deductions when using policy loans for investments or business purposes. He highly recommends taking the time to research and have a thorough understanding before diving into infinite banking. Key Takeaways: Infinite banking is not about magical arbitrage, but about managing capital efficiently. Borrowing from policies is not dependent on the policy's growth rate. Tax deductions can be a potential benefit when using policy loans for investments or business purposes. Approach infinite banking with a thorough understanding and take the time to educate yourself before getting started. Episode Resources: Gain FREE access to our Infinite Banking Course
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E228: How to Become a Master Family Banker in 3 Steps
04/02/2024
E228: How to Become a Master Family Banker in 3 Steps
Join Nate in this episode as he discusses the concept of family banking and reveals the three crucial steps to becoming a master family banker. Family banking involves keeping money within the family and mimicking the strategies used by wealthy families to create generational wealth. The first step is to store capital, which can be done through dividend-paying whole life insurance policies. The second step is to establish a loan underwriting process, ensuring that loans within the family are handled professionally. The third step is to seek out win-win scenarios, creating mutually beneficial deals for both the family banker and the borrower. Family banking offers the opportunity to build wealth and keep money within the family for future generations. Key Takeaways: Family banking involves keeping money within the family and mimicking the strategies used by wealthy families to create generational wealth. The first step to becoming a master family banker is to store capital, which can be done through dividend-paying whole life insurance policies. The second step is to establish a loan underwriting process, ensuring that loans within the family are handled professionally. The third step is to seek out win-win scenarios, creating mutually beneficial deals for both the family banker and the borrower. Episode Resources: Gain FREE access to our Infinite Banking Course
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E227: Why Dave Ramsey’s Signature Advice Is Unbiblical
03/26/2024
E227: Why Dave Ramsey’s Signature Advice Is Unbiblical
In this episode of “Dollars and Nonsense”, Nate Scott challenges Dave Ramsey's advice on money and retirement. Nate shares his own personal journey and struggles with the pursuit of financial security, highlighting the pitfalls of hoarding money and seeking it as the ultimate source of fulfillment. By delving into biblical principles, Nate offers listeners a fresh perspective on wealth and security, urging them to build lives they don't have to retire from and to prioritize God's will over serving money. Key Takeaways: Unbiblical Pursuit of Security: Hoarding money and seeking it as a means of security is unbiblical and unfulfilling. Building a Life You Don't Have to Retire From: Nate advocates for prioritizing lifestyles that don't necessitate retirement, challenging the traditional notion of saving for the future. Avoiding Rationalizations: Nate warns against justifying the love of money with religious reasoning, emphasizing the importance of discernment in financial matters. True Fulfillment in Seeking God's Will: Nate underscores the ultimate source of security and fulfillment in aligning one's life with God's will, rather than serving money. Episode Resources: Gain FREE access to our Infinite Banking Course
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E226: How to Build Generational Wealth (3-Step Formula)
03/19/2024
E226: How to Build Generational Wealth (3-Step Formula)
In this episode, Nate Scott unveils the blueprint for establishing and nurturing generational wealth. He stresses the importance of adopting a mindset focused on long-term wealth over retirement. Nate explains the need to acquire evergreen assets that can endure for generations, such as farmland, real estate, and businesses. He also explores the significance of trusts in estate planning and advocates for the family office model. Nate suggests leveraging life insurance to create liquidity and facilitate the growth of generational wealth. He then ties these strategies back to biblical principles. Takeaways: Mindset Shift: Prioritize long-term wealth over immediate retirement goals. Invest in Evergreen Assets: Acquire assets like farmland, real estate, and businesses that can be passed down through generations. Utilize Trusts and Family Office Model: Implement trusts and consider adopting the family office model to preserve and expand your estate for future generations. Life Insurance Strategy: Use life insurance to ensure liquidity and support the growth of generational wealth. Episode Resources: Gain FREE access to our Infinite Banking Course
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E225: How Do I Know if Infinite Banking is Right For Me?
03/12/2024
E225: How Do I Know if Infinite Banking is Right For Me?
Join Nate Scott in this episode as he tackles the burning question: Is infinite banking the right fit for you? He delves into the nuances of infinite banking, stressing that it's not a one-size-fits-all solution. And encourages listeners to explore their financial paths, whether it's the traditional retirement route or the more hands-on, entrepreneurial approach. Nate also highlights the flexibility of infinite banking, reassuring people that they don't have to go all-in to reap its benefits. By the end, you'll have a clearer understanding of where you stand on the financial spectrum and whether infinite banking aligns with your goals. Key Takeaways: Personal Fit: Infinite banking isn't for everyone; it's essential to assess if it matches your financial goals and preferences.Financial Path: Consider your financial path carefully—whether you're inclined towards conventional retirement or a more active investment approach. Flexibility Factor: You don't need to fully commit to infinite banking; it can complement your existing financial strategy as a secure, liquid savings option. Spectrum Insight: Learn about the spectrum of compelled individuals, from those embracing entrepreneurship to those favoring passive retirement planning. Self-Assessment: Understanding your position on the spectrum and your comfort level with financial involvement can guide your decision on whether infinite banking is right for you. Episode Resources: Gain FREE access to our Infinite Banking Course
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