No matter how much of an expert you may be, there will always be at least one thing you don’t know or fully understand. One strategy that I am sure many people are still learning is called the Infinite Banking Concept. There has been a guest on the show that has discussed it before, but even I couldn’t fully wrap my head around it.
Today our guest is Robert Murphy who obtained a Ph.D in economics and is the president of Consulting by RPM. Robert has written/co-written numerous books over various subjects, including a student textbook. He is considered a thought leader in the sector which means his extensive knowledge can help us learn more about what is going on in the industry.
Today, in these two episodes, we are going to discuss…
- Why you should be interested in getting your money out of the banking system
- Whether life insurance companies are more secure than banks or not
- What is wrong with the buy term and invest the difference model
- How the IBC strategy compares to the typical self-directed retirement accounts
- The risks of the IBC strategy
- What mistakes to avoid when implementing the IBC strategy
We do jump into things pretty quickly, so if you find yourself getting lost, you can check out Episode 15 where we cover some of the basics. The link can be found at the bottom in the show notes section.
Learning new strategies takes time and plenty of effort. Some strategies are more difficult to pick up on than others may be. Once you learn a strategy that you trust and feel comfortable using, try it out.
Learn more about our guest:
Website: lara-murphy.com