TMA on the Banking with Life Podcast

This week we have the pleasure of joining James Neathery on his podcast, Banking with Life.

If you want to better understand the importance of life insurance as a foundational tool, and how it integrates into a family banking system…tune in now!

Podcast: Play in new window | Download (Duration: 1:06:28 — 76.1MB)

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Show Notes:

0:00 James Neathery introduces The Money Advantage team: Rachel Marshall, Lucas Marshall, and Bruce Wehner. 

3:00 The more quality information about infinite banking and finance out there, the better. Separating the noise from the truth. 

5:40 Rachel shares how The Money Advantage team met Nelson Nash, author of Becoming Your Own Banker.

8:15 Lucas touches on the importance of the IBC and life insurance industry sticking together and applying the principles of legacy to create a broader sense of community. 

11:30 James says. “Every business has a ferocious need for capital and cash flows.” 

12:15 What is family and heritage, and how does money impact that? How does it contribute to generational wealth?

12:55 How the Marshall family implements a family banking system, and how this system has adapted over time. 

14:30 How do you ensure that your legacy and money are used in accordance with your family values?

16:30 The benefits of a family banking system over time.

19:30 The benefit of being surrounded by like-minded, entrepreneurial people. 

20:20 Where to store your capital for safety and liquidity.

21:25 What is a leveraged-up death benefit, and why is it so profound?

24:15 Bruce shares why he decided to open a life insurance policy on his father. 

28:25 What does it mean to have a family enterprise, and how can you be successful?

29:15 What is the “rugged individualist” in the financial industry? How do you move toward a family-focused financial system?

33:15 IBC in theory versus in practice.

35:00 Infinite banking starts at the idea level: you have to reconcile the idea with your finances first.

38:15 The reason you want to step into the role of the banker is that it gives you control. Control gives you options. 

40:15 The power of how Nelson Nash taught IBC.

41:50 How people form their opinions on whole life insurance. 

45:10 How do you handle people who challenge your understanding or beliefs? 

48:30 “Most people’s understanding of life insurance is based on someone else’s misconception.”

49:45 The importance of a solid financial foundation.

53:00 Being available versus being on demand. 

54:00 Working with ideal clients.

55:45 The Fed doesn’t understand banking. 

1:03:20 Closing thoughts.

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