Are you looking for a way out of the paycheck-to-paycheck lifestyle?  Looking for a strategy that will save you from utilizing and or maxing out your credit cards? Do you want to ensure you have some money to use when things come up in your life– such as education, emergencies, home repairs, car repairs or any other unplanned expense?

Do you currently feel as if you are stuck?  Especially now a days, things are tough but there is hope.

To achieve a different outcome, you must apply a different strategy!

The Infinite Banking Concept

The Infinite Banking Concept (IBC) is a strategy developed by Nelson Nash, the author of “Becoming Your Own Banker” and he was a life insurance broker with 35+ years of experience. This unique concept is based on utilizing a whole life insurance policy to borrow cash from yourself instead of those burdensome banks and your cash value acts as the collateral and is not touched.

Infinite banking makes you a financially independent individual who is ready to counter any expenses. IBC transforms you into a more disciplined person with superb financial management skills. In case an expense shows up, do you instantly go for plastic? Or do you think about all the available options (such as needs, wants, obligations, and finances) and come up with an informed decision on the best way to utilize your cash?

This does not mean that every decision you make should be an enormous undertaking. However, if you are keeping cash aside for a flat-screen television and you need new tires for your automobile, do you purchase the television and place the tires on your credit card or do you do away with the plan to purchase a new TV and instead sort out the need for brand new tires?

The majority of individuals find themselves between a rock and a hard spot when it comes to making such decisions. People can get caught up in the credit cards trap, which later puts them into financial stress, figuring out how they found themselves there. That is exactly what the credit card companies are after. They are very much aware that the moment you are indebted to them, getting out of debt becomes another hassle. Otherwise, they are grabbing not only your cash through exorbitant interest rates but they are also snatching any potential gains from the cash you borrowed. In case the credit companies, as well as banks, can manage to get you tied to them at a tender age when you basically lack proper financial management, you will remain their slave for your entire life, while they become richer and richer leaving you in financial distress.

Be smart and evade the trap… but if you are already captured… Good news is, you can still rescue yourself! Using the infinite banking concept Canada, there is a possibility to incorporate the existing debt into the IBC system that will enable you not only to settle the creditors but also to recapture for yourself, the interest that would have otherwise been captured by them.

The Infinite Banking Concept acts as a tool for your financial freedom and offers you the chance to benefit, in everyday real-life by:

• Enabling you to take charge of your financial pool
• Providing Liquidity (the ability to quickly access your cash).
• Easily accessing credit
• Being in charge of how you repay your loans, eliminates the fear of harassment from creditors and bad credit scores
• Recapturing and keeping your interest rather than paying it off to a different person
• Growing your cash value non-stop for college fees, retirement, or other huge expenses
• Provision for your loved ones to benefit in case you die
• Passing down a system to the beneficiaries to cater to their needs (as well as those of the upcoming generations)

Stress-Free Funding

Among the myriads of advantages for implementing the Infinite Banking Concept in your life, there is the ability to multiply your resources over time and equip you with:

• Access emergency money
• Facelift your home
• Cater for hospital bills
• Give a down payment (or pay the whole cost of purchase) for a new house
• Pay for tuition fees without opting for student loans with exaggerated interest rates
• Buy a car without stress or worrying about being eligible for low interest rates and having to apply for credit

Whatever number of expenditures that come our way as long as we live, infinite banking makes them possible.

Think for a moment: you intend to go on a vacation, purchase college books, or paint your home. You can just borrow funds out of your personal bank; repay yourself, and recapture the interest. That is how simple it is!

You are not subjected to credit checks, and lots of paperwork, and your application cannot be rejected. You are your own banker; the money belongs to you!

The reality is that as long as we live; we have to fund various purchases. In the process, you either pay someone else interest since you used their cash, or you lose interest that would have otherwise been yours by utilizing your savings. Apart from offering you the solution to your financial needs, infinite banking enables you to recapture your lost interest and eventually, completely settles the matter as you become the controller of your finances.

An Ideal Strategy to Grow Cash

A whole life insurance policy (which drives the Infinite Banking Concept) is unique since it allows your cash to accumulate tax-free. You can pull out cash against the money that you have already pumped into the policy without being subject to any tax. For instance, if you have a premium contribution of $10,000, you can borrow a loan against the amount whenever you want without undergoing any tax requirements. If you borrow any of the growth, in this case, any amount above $10,000, your excess would be subjected to taxation. The tax will be of an equal rate to the rate that the interest in your savings account would be subjected to.

Building Wealth With Infinite Banking

What do you understand by the term “wealthy”? The majority of people perceive wealth as owning a lot of cash. Okay, owning lots of cash with several creditors at your back is as good as having nothing at all.

On the same note, many individuals find that owning a lot of money has its fair share of problems! Reason? The origin of their financial problems was not from the amount of money they owned, but from the way they handled and managed the cash. Having a lot of cash just makes the underlying problems bigger. Are you aware that about a third of people who win lotteries find themselves bankrupt in 5 years?

Rather, think about being wealthy in this manner: the ability to meet your needs and your family’s needs because you have enough resources required to accomplish that without having to be stressed or going for credit.

The amount of money you have does not matter. What matters is your financial management.

Various sayings in the world of finance may prove right to you and others close to you: “Expenses will go up to meet income.” “A luxury, once enjoyed, becomes a necessity.”

According to you, is there any truth in this? Definitely, there is! The two previous sayings can have a very serious impact on yours let alone anyone’s financial system. Even if there is no financial system and you are just utilizing a regular savings account, how well you manage your finances hinges on true success.

The Infinite Banking Concept guides you through the process of creating a financial system of wealth through planning and discipline. It is not just a matter of “stashing” cash away year in and year out, but ensuring your goals are in line with the financial resources at your disposal.  Developing a workable plan to build your desired wealth, will enable you to live your dream life while catering for your future as well as your family’s future.

Amassing wealth, is just not enough for your retirement and other expenses. You should be in a position to provide for your heirs (as well as their kids and grandkids). The Infinite Banking Concept provides you a living standard that makes it possible to create your desired wealth, guard it and pass it over to your future generations.

Simple Wealth Creation Theory with Infinite Banking

The main goal of the Infinite Banking Concept, is to offer you a way to save funds. Yes, this can be done without the need to deposit your entire life savings into a conventional bank or credit union. Rather, you can deposit small chunks of cash, pay off your credit cards, pay your bills, and save your cash for the days of uncertainty. With infinite banking, you utilize your investment account to create cash value as time goes by, meaning that you will earn dividends and interest from your investments as time passes.

The infinite banking model has been tried and tested by individuals who have been impacted by higher tax rates due to a higher income.

As stated earlier, the infinite banking concept is driven by a whole life insurance policy. The idea behind utilizing a whole life insurance policy, is that it has living benefit. The living benefit, is used to offer individuals a strategy to put an end to the borrowing of funds from conventional banks with high interest rates. You too can use this strategy by optimizing your finances and receiving maximized tax efficiency, With the recent changes to the Infinite Banking in Ontario, Infinite Banking has become even more appealing.

3 Steps to Succeed in Your Finances With Infinite Banking

• Assess your source of money and where you make your cash

What is your financial position? Do you earn much of your cash from working, or do you approach banks to get cash? The truth of the matter is, that the majority of individuals earn their money from work, and then approach the banks to borrow cash that they use to finance their living expenditures.

However, what if you could work to earn your money without the need to borrow from banks? This is what the Infinite Banking Concept promises you- you utilize your cash to fund your life, rather than borrowing from creditors or banks.

• Don’t allow your income to become stagnate

The basic idea for Infinite Banking, is to ensure that you keep the largest chunk from the cash you earn, and that your cash can and will grow with time. It is similar to receiving a paycheck, but managing to keep over what you earned. When you utilize your personal cash to fund your lifestyle, you are not depending on another person’s funds. You are your own boss, and you make decisions on what your money does for you.

• If you stop creating income, you will not have any income

The aim with infinite banking, is to offer you the financial freedom that you desire. It is not a product, but a concept.  Trust the process, and put it to work. You will get empowerment that surpasses any other financial system from infinite banking. Once you decide to start, you’ll discover that it is a highly effective strategy to move you forward financially.