Understanding the Basic Concept of Infinite Banking in Order to Build a Long-term Wealth | Ryan Breedwell
Millionaire Mindcast
Matt Aitchison
4.8 • 721 Ratings
🗓️ 11 January 2021
⏱️ 58 minutes
🧾️ Download transcript
Summary
In this episode of the Millionaire Mindcast, we have a spectacular guest, our very own Ryan Breedwell who shares the basic concept of infinite banking, how to protect and grow your wealth, the best ways of using life insurance, the different types of life insurance, and Policies, what is the crediting method that he prefers, and the side by side comparison between Policies!
Ryan Breedwell is a wealth builder, financial advisor, and co-host of the Millionaire Mindcast Podcast. He helps people make money and build long-term wealth through the programs he offers including Comprehensive Financial Planning, Personal Wealth Management, Group Health Plans, Executive Bonus Plans, Key Person Planning, Deferred Comp. Plans, Long Term Disability Insurance, Medicare Supplement, Retirement Income Planning, Social Security Planning and Life Insurance.
Ryan is not just serving for himself but for others as well. He explains the basic concept of infinite banking to learn its simplest way, and tells the full truth about the most powerful tool to build wealth. Likewise, it is eye-opening to see the side-by-side comparison between different types of Policies that people can take advantage of a lot. Knowing how, why the policy works, and who they work for to achieve the wealth-building goal that you’re going to achieve.
Some Questions I Ask:
- What are the actual different types of life insurance and what do those entail? (03:34)
- Why don’t you like variable insurance products first and foremost? (04:36)
- Who is life insurance for and when did this start actually making sense to leverage this vehicle in their investment plan for building wealth? (10:12)
- Do you have a certain threshold of how much should go into the Policy every single year? (15:11)
- What’s good about a Life Insurance Policy? (17:20)
- When you pull the cash out of the policy, what is the general interest rate that is going to get charged? (23:02)
In This Episode, You Will Learn:
- Various types of permanent insurance (04:19)
- The difference between whole life and universal life policies (05:50)
- The beautiful thing about insurance (11:56)
- The best way to use the Policy (16:17)
- A side by side comparison showing the two different Policies – by The Money Multiplier (27:28)
Quotes:
- “It’s okay that there’s some pitfalls in the plan because not everything is a perfect product.”
Connect with Ryan Breedwell on:
Text “XRAY” to 844-447-1555
Transcript
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| 0:00.0 | Welcome to the Millionaire Mindcast, where we broadcast weekly interviews with millionaire |
| 0:10.3 | minds from across the globe to empower you on your journey of unlocking a rich and fulfilling life. |
| 0:17.0 | It's time to unleash your millionaire within. |
| 0:19.8 | Now, here's your host, Maddie A. |
| 0:23.7 | What's going on, Millionaire Mindcast, fan? Welcome into today's episode. I've got none |
| 0:27.8 | other than my brother, my co-host of Wealth Building Wednesday's, Mr. Ryan Bredwell, as our guest |
| 0:33.3 | today. And we're digging into something that has come from popular demand from you guys, |
| 0:38.9 | which is the infinite banking concept. This is a strategy that many of the wealthiest families |
| 0:44.9 | and people on the planet who have built not only a legacy, but passed along generational wealth |
| 0:51.8 | from one generation to the next, this is the strategy and the |
| 0:55.5 | vehicle that they have used it in. So we're going to be digging into all of the X's and O's of |
| 1:00.0 | this on today's episode. I'm going to go ahead and explain it once we dig into the interview |
| 1:05.8 | here in a second exactly what we're going to be covering. But I'm really excited to be sharing |
| 1:09.9 | this with you guys because so many of you have been looking for vehicles, looking for ways to invest your money in a way |
| 1:15.9 | that still gives you flexibility, still gives you liquidity, still gives you the ability to grow your |
| 1:21.0 | wealth while not being limited and restricted like a lot of investment vehicles due to you. |
| 1:26.6 | And that is why the Walt's, the Rockefellers, |
| 1:29.3 | the list goes on and on of some of the wealthiest people |
| 1:32.0 | on the planet using life insurance |
| 1:34.9 | to grow and protect their wealth. |
| 1:37.3 | So with that being said, let's not waste any further ado. |
| 1:39.8 | Let's dig into today's episode right after this quick message. |
... |
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