A homeowner inherited their parents' house and plans to build a carriage suite for their teenage kids. They're using infinite banking, taking loans against a life insurance policy, to fund construction so money stays in the family instead of going to a bank.
Chapters
What's the opportunity that's been presented to you that you can now tap into that wasn't really available before, not to the degree that you're able to do it now?
I have another home. It's my parents home and they've passed away and they left it to me. My wife, through some friends of hers, they had built a garage in their backyard with a carriage suite above it. She said we should maybe do that at our property for our two younger teenagers that are home with us. That way everyone's going to have a roof over their heads. Now that we're going to be practicing infinite banking, putting this policy together, we are going to have the means to take out policy loans and fund this. I. I couldn't have done this if my money wasn't in an rsp, that I'd be going to deal with a bank trying to get a loan or maybe going to my line of credit. And then the money's not flowing to me, it's flowing to somebody else. We're going to keep this in the family, keep it to ourselves.