Jason and Richard Canfield argue that dividend-paying whole life insurance offers a safer way to access capital than crypto alone. They emphasize that borrowing from a policy without a repayment plan carries the same risk as draining savings, and stress the importance of expert guidance for tax-free access to money.
Crypto on its own is risky. The infinite banking concept on its own is powerful.
The process of making the financial decision is the same.
One wrong move and the taxman wins. One wrong move and you're creating financial headaches, not financial wins.
It's the same scenario. You're still putting yourself at risk. That's behavior based. In another video, Jason, we talked about the risks of infinite banking. Yeah, yeah, it's all behavior based. And here's a scenario where people who get wrapped up in the next best, hottest thing, the next best crypto, this or that, or they get on board because the market's rallying right now. Often by the time you hear it's rallying, it might be too late, just an FYI for some people. But if you have access to, you have $100,000 in a policy that you can tap into and you're allowed to access 90% of it. So you can take 90 grand out. And if you use that and put it all down, it's like going to Vegas on the roulette table, spinning the wheel and say, here's my 90 grand. Let's hope we're going to bet it all on black. Like, you have to be really cautious with that. And if you did take everything out, no different than if you withdrew every dollar of your savings or every dollar of, you know, potential that you have, you would be putting your family at risk by making that decision. So if you borrowed all of it against the life company versus if you withdrew it all of your bank account, it's the same scenario. You're still putting yourself at risk. That's behavior based. And if you did that with no plan, no concept as to how you were going to repay the loan back, that would not be a smart idea. That's not making good decisions. So if you're putting it all on the Vegas roulette table and you're spinning it and you're just, you know, waiting to see what happens, but you put all your chips in that basket. That would be a dangerous scenario without having the right context and knowledge base. And so you have to make a measured decision. Is this a risky endeavor now, the fact that you still have a policy and it's still growing, great, your family's protected, but you also have a loan on there. And if you maxed out that loan and that loan is growing in interest, yeah, ideally the policy is still growing, but in all of a sudden, if you stop paying premiums, will the policy grow a little bit slower? Could the loan. Could you create a problem that's not an infinite banking or a whole life insurance problem. That's a you problem. That's a behavior problem. So don't blame the company or the policy or anything else for your own, you know, shortcomings on making poor decisions. We all make poor decisions. Hey, I'll put my hand up. I know I've made a couple of doozies along the way, but all of those have been learning lessons for me that have allowed me to dial in and get better at decision making. Better framework doesn't mean I'm not. I don't have some doozies out in the future. The future is untold. But I've learned a lot about how to think about the decisions I make, to be more pragmatic and more specific on them, you know, from, you know, the last 20, 30 years of my life. So I. I would like to think that you've done the same thing if you're watching this right now. So whether you're gonna use crypto or not, it doesn't matter what it is that you're purchasing. I don't care if it's your cell phone, if it's the next car, if it's paying off a debt, if it's a down payment on a house, if it's, you know, Tesla stock or whatever the thing is that's got you all wrapped up around what you need. It's a financing decision. The process of making the finance decision is the same. Money's gotta come from either your bank account or it's gonna come from another warehouse, a reservoir. That reservoir is an insurance policy. And you're using insurance company's money. That's totally fine. The method that you go about doing that and then replenishing it. So. So if you used your savings account and the savings account drained to zero, well, you're going to want more savings, aren't you? Don't you got to rebuild it. You got to make some payments into the savings account. You borrow it from the policy. You go buy the cell phone, buy the car, pay off the debt, down payment on the house, replace the furnace, buy the Bitcoin. All of these things are just activities that you're choosing to use money for. It's all the same, right? But you use the insurance company's money, opm. The best way that you, you still need to replace the resource, which means you need to make a savings payment. You're going to replenish what you used. Whether you have to use your savings account or you use the policy, it doesn't matter other than that the policy provides huge protection for your family, a whole bunch of tax free benefits and has constant motion that it's always growing because you're getting older. Yeah, look, we all think that we should be paying only your fair share in taxes. Just so happens I think your fair share is lower than probably what you're paying now. Well, we talk a little bit about that in our book. Keep taxes away from your wealth. You can get a copy and access to the bonuses by going to keeptaxesaway.com that's keep taxesaway.com head on over there and pick up a copy today.
Yeah, it's all true. And when I just take another trip into logic and think through the fundamental truth, your money must reside somewhere. If you know that as it relates to a dividend paying life insurance contract, which is not the infinite banking concept. Remember the concept is a process, but as it relates to the tool dividend paying whole life. If you recognize the fundamental truths, you can contribute almost unlimited sums. You are not seeing anything other than daily cash value growth. You pay no tax on that daily buildup. You have contractually guaranteed access to capital. You are in a position where you've created an instant promise to pay of a tax free windfall called a death benefit. And when you know the truth that you can gain access to capital on demand, on your terms, without reducing the policy's value, the asset without triggering a taxable event. And you're in a position of total control over the repayment schedule of capital that you access to take advantage of high caliber opportunities. Logically, how much capital of yours do you not want residing there, knowing that from that very place you can go and achieve financial objectives that include investing. So here's the bottom line. Crypto on its own is risky. The the infinite banking concept on its own is powerful. If you implement it the right way. You can turn volatility into high caliber opportunity if you understand what to do. But this is not something you should try to do alone. One wrong move and the taxman wins. One wrong move and you're creating financial headaches, not financial wins. One misstep and the strategy collapses. The difference between success and regret comes down to whether or not you've got the right people guiding you. And that's why our next step is simple. Just click the link in the description book. A conversation with the right person on our team. It's a chance to see how the infinite banking concept can radically amplify whatever your investing strategy is, including your crypto strategy. But finally give you control, confidence, and clarity. And so don't wait for the next market swing to realize you should have acted sooner. Just book the call, get to clarity on the concept, and let us help you get to work on taking control of how you finance the things that you need throughout your lifetime and recapturing the interest that you would otherwise pay to someone else's bank or someone else's finance company. Rich, this was awesome.
Click here for the next amazing video and if you want, check the links down below and you can get access to a free book that we've written right to your inbox. Go ahead, do that now.
