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Wealth Without Bay Street 215: Infinite Banking Concept After Age 55, Can I Do It?
Can you do the Infinite Banking Concept even after 55 years of age?
In this episode, we go into a deep discussion whether the Infinite Banking Concept can work for individuals over the age of 55. We explore real-life examples and discuss both the potential and the limitations of starting this financial strategy later in life. Also, we'll shed light on what you need to have in place to make it work for you at this stage.
Tune in now to discover how you can leverage the Infinite Banking Concept to secure your financial future, no matter your age.
▶️ Building a Family Financial Legacy
Key Points:
00:00 Introduction
04:19 How the infinite banking concept can be initiated at later life stages.
08:38 Insight into the lack of control over certain financial outcomes.
12:31 Examination of government programs and their hidden agendas.
16:01 Impact of traditional retirement savings plans.
22:21 Insight into the banking system.
25:36 The idea of “becoming your own banker.”
28:55 Mindset and planning for future financial independence.
33:49 Growth potential of a well-structured financial plan starting at age 50.
39:40 Comparison of asset growth from starting at age 50 versus age 60.
42:43 Impact of time and commitment in the infinite banking concept.
47:52 Reallocate existing resources to fuel the infinite banking concept.
50:37 The significance of working with a financial coach.
53:35 The benefits of an insured retirement plan.
58:27 Exploring alternatives to traditional banking systems.
01:00:03 Impact of drawing income from traditional retirement plans.
01:04:40 Benefit of using a whole life insurance plan for retirement.
01:08:37 Role of mindset, income, and resources in Infinite Banking Concept.
01:12:53 Economic implications of traditional finance systems vs Infinite Banking Concept.
01:18:24 Mindset shift through education.
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📚 IBC RECOMMENDED BOOKS
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📽️ WATCH THE DOCUMENTARY
Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/
💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/
EVA – Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
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