Infinite Banking Explained with Patrick Donohoe - Episode 613
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 15 April 2020
⏱️ 33 minutes
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Summary
One of the most controversial topics we've ever covered here on the podcast is the Infinite Banking Concept. Many people are skeptical of any lending platform tied to an insurance policy, while others have heard horror stories. One thing is for sure, there is a lot of confusion about Infinite Banking and how it really works. So we decided to ask genius CPA Tom Wheelwright to refer us to his go-to source on all things Infinite Banking—Patrick Donohoe.
Patrick Donohoe is an expert in Infinite Banking, the founder and CEO of Paradigm Life, and the author of Heads I Win, Tails You Lose. On this episode of Investing in Real Estate, Patrick is debunking some of the most common myths about the Infinite Banking Concept. We hope this episode will empower you to educate yourself about this investing option!
Download Your Free Copy of Heads I Win, Tails You Lose by Patrick Donohoe
Transcript
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| 0:00.0 | Welcome to the Financial Freedom Show everyone. I'm Clayton Morris. I'm Natalie Morris. |
| 0:09.0 | And this is a show where we help you build financial intelligence. |
| 0:12.0 | You have to build your Financial Intelligence first so you can build financial intelligence. You have to build your financial intelligence first |
| 0:14.0 | so you can build financial freedom second. |
| 0:15.8 | We do it through buying real estate. |
| 0:17.7 | And one of the most controversial topics |
| 0:19.3 | that we've ever had here on the show over the years |
| 0:21.8 | was the concept of infinite banking, |
| 0:23.4 | wouldn't you say? |
| 0:24.5 | Yes, I definitely would. |
| 0:26.0 | And I think because a lot of times when you think of infinite banking, |
| 0:30.1 | it's linked to life insurance. |
| 0:32.1 | And then people really got triggered by the idea of life insurance. |
| 0:36.0 | It was like we were Willie Lohman and death of a salesman and like peddling some kind of product that was skeasy. |
| 0:44.3 | But what this actually is, is I want to say |
| 0:48.4 | it's like an offering in a buffet of investment tools where you learn to become financially independent. |
| 0:57.8 | It is not for those kind of people who just want to automate some savings or hope for the best or put some money into a 401k |
| 1:06.3 | and see what happens now we are filming this in the middle of the coronavirus |
| 1:11.3 | epidemic and we are seeing that people who sort of of the |
| 1:13.7 | current virus epidemic and we are seeing that people who sort of banked on that like let's automate and hope |
| 1:18.1 | Investment strategy are not doing well. So we invited another guest to take another swipe at this and we hope that we can again prevent it presented as a healthy offering and a healthy buffet of your investment choices. |
| 1:32.9 | That's right. |
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