Transcript of a YouTube interview discussing the infinite banking concept as the foundational mechanism for creating a parallel economy. Speakers describe personal transitions from traditional financial planning to using infinite banking (warehouse of wealth), recount private lending examples, reading habits and books referenced, and briefly mention tax-reduction strategies and family loans as practical implementations.
Chapters
You can't have a parallel economy without a foundation. And the infinite banking concept is the foundation for a parallel economy.
Our guest today td he's living proof that stepping out on faith can create both abundance and opportunity. After 11 years as a financial planner, our guest today traded in spreadsheets for work booths.
Because you have to rethink your thinking, you know, and the only way you can rethink your thinking is to have other people chant, challenge your current paradigm. The snakes and dragons are real, you know, and the power brokers are real. That's when it clicked. I'm like, oh, you will not understand it, I don't think, until you start doing it. This entire dream that we had about building a living legacy, you know, what our thought process that shifted and changed is like? Rather than hoarding and storing and then handing off this future value after we're dead, why don't we do that while we're alive, you know? And how much more powerful is that and how much more we can participate that, be, be a part of it, direct it as best as we can with what we've learned and. And infinite. The infinite banking concept is the chassis. Because I was very Austrian, I was very libertarian, and I knew that the problems that we have in society required a parallel solution, you know, so we talk. We always talk about parallel society, parallel community, and parallel economy. And you can't have a parallel parallel economy without a foundation. And the infinite banking concept is the foundation for a parallel economy. And it just allows you to take control of that banking function and to warehouse it. That's what I'm reading right now, is building your warehouse of wealth.
Of wealth. It's a good book.
Yep, yep. And then I'm also. I'm also reading don't spread the wealth and another book.
You enjoy.
That one I think about.
I think your boys will like that one too.
Yeah, yeah, it's great. And I. I really picked up reading again. I read a lot of books. Originally, when I started my business, I would read, like, I don't know, a book a week. And I really stopped. It was very stupid to break that habit. And so I picked that habit back up, and now I'm reading about a book a week or whatever. Because you have to rethink your thinking. And the only way you can rethink your thinking is to have other people challenge your current paradigm so that you can shift and change that paradigm. That's why your podcast is so important.
And.
And other people that are doing what you do. Then there's a Lot of other. I don't want to call them grifters or anything and I don't want to malign them, but there are a lot of other people that pick up the infinite banking concept as like this kind of like buzzword thing. And they do implement it, but they're like, you know, you just stack this in your strategy. So, yeah, invest in the stock market, right? But, but change the order of how you do that.
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If you truly, you know, and this isn't a test of who's a real believer or whatever, but if you read Nelson, like the snakes and dragons are real, you know, and the power brokers are real. And you can't, you can't dance with the devil. If you dance with the devil, you are going to get burned. Right? And the beautiful thing is you do not have to, you know, the beautiful thing is volume. It's not the rate of return, it's the volume. And what happened, right, is I, so I started this, I started a policy and I was so afraid to capitalize it, you know, like, what if, you know, what if I lose my job? What if I can't pay this premium? So you start out and you're, you know, okay, well, I can do 20,000 a year or whatever, you know, and fortunately we have the PUAs and all that cool stuff. So, you know, you're not, you have room for expansion. Thankfully. Thankfully. Because I just, I started out as a scaredy cat and everybody will. I mean, I totally get it. And I was doing this infinite banking stuff. I made three private loans my first year and I did very well. I made.
About lending to a third party, you mean?
Yes. Yeah. And I didn't, I didn't even know what I was doing, to be really honest with you. And I, I took my interest that I made off of that and put it back into PUAs, which is, which.
Is following Nelson's principles. And that goes directly to the equipment financing example on, I believe it's page 54 of the book. Or 56, sorry, page 58. Bottom of page 58. Actually, this interest is not really interesting. It is additional premium capital that has been paid into the policy that equals the interest being paid to the finance company. So you, you took heed and actually implemented exactly what Nelson is suggesting that you do.
And interesting enough on that note, so I made these private loans and as I was getting paid back, I was paying down the loan and I just text, I, I text my, my IBC guy and I said, I said, yeah, so I'm paying down the loan. He's like, well, that's one way to do it. And I was like, what do you mean? He was like, well, you could always buy paid up additions. And I'm like, okay. So I took the, I took the money back out, I took another loan that I just paid back in and I bought PUA with it. And that's when it clicked. I'm like, oh, I get it now. And, and I'm like, oh, wow, I should have scheduled a larger initial premium, you know? And so I opened up a second policy. Max funded that, maxed out the PUAs and all that cool stuff. And then my son, my son starts talking to me about he wanted to build this house. I said, okay, let's make a loan. I. I did kind of. I gave him a super sweetheart deal. So I, I know most guys would probably be charging, being a little bit more of an honest banker with their son, but he, he's got a policy now. His wife has a policy. And you, you will not, you will not under. It is more caught than taught. You will not understand it, I don't think, until you start doing it. And then once you start doing it, you'll be like, oh, yeah, you know.
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