E137: Do You Need an Emergency Fund or is there Something Much Better?
02/07/22 • 20 min
In this episode, we discussed the question, "do I really need an emergency fund?" Not only do we get questions on this topic, but we also find out that there are still some misconceptions having to do with this ingrained bank account mentality in all of us. So we dive into emergency funds and ways that money might actually be put to more productive and protective uses.
~ Access our FREE Infinite Banking Beginner course here:
https://livingwealth.com/beatinflation
~ Get resources and transcripts from this episode by visiting:
Topics Discussed:
- What does an emergency fund really cost?
- How many months worth of expenses should an emergency fund cover?
- Is a bank really the best place to hold your fund?
- The most expensive money in a bank
- How to use Whole Life instead of a bank
- Illustrating the gains from using IBC for emergencies
- Why policy payments are really deposits in your own bank
Episode Resources:
Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/
What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/
Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/
In this episode, we discussed the question, "do I really need an emergency fund?" Not only do we get questions on this topic, but we also find out that there are still some misconceptions having to do with this ingrained bank account mentality in all of us. So we dive into emergency funds and ways that money might actually be put to more productive and protective uses.
~ Access our FREE Infinite Banking Beginner course here:
https://livingwealth.com/beatinflation
~ Get resources and transcripts from this episode by visiting:
Topics Discussed:
- What does an emergency fund really cost?
- How many months worth of expenses should an emergency fund cover?
- Is a bank really the best place to hold your fund?
- The most expensive money in a bank
- How to use Whole Life instead of a bank
- Illustrating the gains from using IBC for emergencies
- Why policy payments are really deposits in your own bank
Episode Resources:
Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/
What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/
Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/
Previous Episode
E136: Why People Easily Confuse IBC for a Get Out of Debt Hack
In this episode, we discuss how infinite banking is not a get out of debt system and why that thinking easily confuses both the novice and the experienced infinite banker.
~ Access our Masterclass FREE to podcast listeners here:
https://livingwealth.com/secretbanking/
~ Get resources and transcripts from this episode by visiting:
Topics Discussed:
- Is debt elimination the real point of the Infinite Banking Concept?
- How it is fundamentally a banking system
- Being a customer of a bank vs. being your own bank advantages
- The counter-intuitive what of making a profit off of expenses
Episode Resources:
Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/
What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/
Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/
Next Episode
E138: Why People Who Keep Money in Motion Grow Wealth Faster
In this episode, we discussed how keeping money in motion is better to build wealth than the conventional wisdom that focuses on storing money up in accounts for decades without ever getting your hands on it.
~ Access our FREE Infinite Banking Beginner course here:
https://livingwealth.com/beatinflation
~ Get resources and transcripts from this episode by visiting:
Today, we're going to talk about the concept that motion is a crucial way to build wealth. This model of growing your money is a little different from what we've all been taught.
For those of you who are new to IBC, you can probably tell many things we suggest and do are different from conventional advice. To that point, one of the biggest things is the difference between people who let money lay dormant and people who keep their money in motion. People practicing IBC put their money to work for them, while folks operating under conventional thinking let their money be lazy.
Topics Discussed:
- What keeping money moving means
- Why and how static money storage robs you of wealth
- How motion means more than policy loans
- What this means for retirement accounts and cashflow
- What it means to really put your money to work or even do multiple jobs
- Lesson's from Robert Kiyosaki's book titled Rich Dad Poor Dad about money
- Understanding what banks have known for hundreds of years about money in motion
- What it means to be your own banker
Episode Resources:
Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/
What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/
Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/
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