Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Protect Yourself With A Preventative Care Plan

29 Dec 2023 · 1 min

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Richard Canfield (speaker) explains that business owners will eventually exit their businesses—either by choice or unexpectedly (e.g., death or serious illness)—and argues that investing in preventative care functions like an insurance plan. He frames preventative health (and analogous assets/memberships) as a proactive strategy that helps secure a long, healthy lifestyle for owners and their families regardless of business outcomes.

Chapters

When it comes to business owners, they're going to exit the business at some point in time. It's either going to be by choice or not by their choice. The not by their choice category. Usually that's because either the grim reaper comes early unexpectedly, right. So they're no longer with us or a health condition takes them out of the game. What you're talking about with your house as an asset and an annual membership is the same idea. I almost view it as a method of insurance where you're creating in a health insurance plan that says look, if we do this and we actually put the energy and the effort in to get the results we want, we probably won't have to worry about some of those other insurances that we've we've picked up to protect our family. It's actually going to allow us to enjoy and live a long lasting, healthy, enjoyable lifestyle whether the business is here or not.