How Business Owners Can Use Good Debt to Retain Great Employees and Fuel Growth

We have to understand what we're doing, okay? So if this is your first time here to the Money Multiplier channel, you may have an idea of what we teach and help folks implement, which is the infinite banking concept.

And what is the infinite banking concept? In one sentence, it's...

taking back the banking function in your life, all right? You finance for every single thing that you purchase in your life, no matter if it's a pack of chewing gum, a bicycle, a computer, your taxes, an airplane, it doesn't matter what it is, you are financing everything within your life.

You either pay cash to buy the item, the purchase, the service, Thus, you give up the interest you could have earned on your money or you bank finance the purchase, thus paying the banker the interest payments and they're in control of the transaction.

You better make sure you pay them and you pay them on time every single month.

Or you can lease the object, right? You can lease it, you can rent it, but then obviously I have no ownership, right? So those are the main three things of what we're taught when we go and make our purchases.

Pay cash, you bank finance it, or you lease it.

You could steal the item, but I don't think y'all are stealing stuff out there, okay? Not all of y'all are shady out there, right? but those are kind of the options that we're given.

So instead, what I'm doing when I'm financing for my purchases, and y'all, I'm not talking about how you're investing your money.

What I'm talking about is how you're buying and spending your money right now.

So instead of me paying cash or involving the banker in my life or renting the item, what I'm doing is I'm flowing my money through whole life insurance.

And this whole life insurance policy is designed specifically for high immediate cash value.

So now this system, when it's designed correctly, I can use this as a warehouse of my money.

and I can take out and use my cash value immediately from this system.

And my definition of immediately is within 30 days.

So you can almost think about it like a glorified savings account, if you will.

That's honestly still how I think about my policies to this day.

No, is it a savings account? No, no, no.

It's a life insurance contract, but it has the same components to a savings account at the bank, but in my opinion, better.

Meaning that it's tax-free growth in my policies.

It's a protected asset.

No one can come after that money besides me, the owner of the contract.

And I can still use the money.

I'm not locking it up like if I were to put it into an annuity, a 401k, an IRA.

And more importantly, not more importantly, but my favorite thing I should say is that it allows my money to work even harder for me.