The Four Steps to IBC
Today, Wade dives into the four steps to the Infinite Banking Concept: Recognize the problem, request help, understand the process, and characteristics of the ideal product to solve the problem. Take a listen as Wade breaks down each step further to help you understand the benefits of following this process and how it can change the way you look at your finances.
Episode Highlights
- 00:42 The importance of taking things in order to get the proper outcome in implementing the Infinite Banking Concept.
- 01:40 The problem that the Infinite Banking Concept tries to address
- 02:44 The first step in understanding and implementing the Infinite Banking Concept
- 03:15 The Second step: Wanting to change your position and searching for something different to get better financial results
- 04:42 Third step: Learning a process to think about money and make better financial decisions.
- 12:04 The ideal characteristics of the perfect savings account, including tax-deferred growth, tax-free distribution, and competitive returns
- 15:55 Importance of having collateral opportunities in a perfect asset, allowing you to borrow against it when needed, such as for growing and expanding your business, and having the access to money that's not correlated to the market
- 18:17 The various characteristics of the "perfect asset"
- 24:48 How the permanent life insurance offers the most benefits and fits the criteria of a perfect asset
- 29:44 The four steps to building and understanding the Infinite Banking Concept
- 30:51 Taking control of your banking system by applying the principles discussed in the podcast and gaining control of your financial life
Episode Resources - Connect with Wade Borth
- https://www.sagewealthstrategy.com/
- wade@sagewealthstrategy.com\xa0\xa0