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The Wealth Without Wall Street Podcast

By Russ Morgan CFP® & Joey Muré

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How to Create Business Opportunities & Generational Wealth Through Infinite Banking w/Dr. Jim Smith

• 43 min

What This Episode Is About When our guest read Becoming Your Own Banker and realized all the principal and interest going to other entities, he was shocked— and it led him to make changes. What are some of the things he’s been able to do in his business and for his children and grandchildren? How does Infinite Banking allow us to create a bank within our own families and do away with the silo structure of most traditional finance setups? How can this give us peace of mind? On this episode, Dr. Jim Smith shares on the benefits of switching to IBC, how it has empowered his family, and how he started the process of creating generational wealth.     Mentioned In This Episode: Why the 401k gave Wall Street a boost * How the traditional banking and finance model makes money flow away from us * Why you get more financial control through IBC * The benefits of lending money internally * How life insurance allows us to build a legacy for our children and grandchildren     Free Tax Strategy Webinar: If you want to learn more about the tax strategies discussed in this podcast, register for this free webinar. We’ll take a deep-dive into the various ideas shared and even show you how to factor your estimated tax savings. You won’t want to miss it! Click HERE to register.   Resources: * Nelson Nash’s book, Becoming Your Own Banker * The Tax Train is Coming to Birmingham! Thursday, November 29th – 6:30 PM CST at AMC Vestavia Hills 10 * Schedule a Call with Us * Don’t run out of money webinar coming soon! * Ibbotson Study on How Much Can You Safely Withdrawal In Retirement * William Bengen study October 1994 “Determining withdrawal rates using Historical Data”  * Wade Pfau’s White Paper on Using Life Insurance In Retirement * Wade Pfau’s Research on the 4% Rule * Mike Michalowicz’s book Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine   *We use affiliate links and if you choose to buy things we might receive compensation from those companies

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