Episoder
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There are different reasons people think Infinite Banking couldn’t work for them. But the most common concerns are age, health, and income.
If you’ve ever wondered “Am I too old?” or “Do I have enough money?” or “Will my high blood pressure get in the way?” this is your episode!
I’ll explain what factors are most important to qualify for the whole life coverage you need for efficient Infinite Banking. And I’ll share strategies you can use to get this coverage even if your health isn’t as good as it used to be.
Listen now!
Show highlights include:
Your biggest concerns about your ability to get coverage aren’t really the biggest concerns. The single factor that trumps both your age and your income. (0:45) Want to insure a relative? It’s possible, but not always as easy as you think. (0:56) “No risk” way to consider underwriting even if you have common health issues like high blood pressure or high cholesterol. (2:05) The practical reason to be completely honest filling out paperwork about medical conditions. (2:37) “Big picture” view of insurance ratings and how the different rate classes affect Infinite Banking. (4:16) Rating class too low for a whole life policy that works great with IBC? Do this immediately. (5:02) Waiting until your health improves before you get coverage could be the biggest mistake of your life. Here’s what to do instead. (5:48) Why a lower health rating doesn’t drive up IBC costs as high as you think. (9:32) Definitive answer to the age-old question: “Can IBC really work for me?” (10:58)Reach out to me:
[email protected]
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com) -
When a couple comes to me with one income earner and a “stay at home” spouse, they usually think they should only insure the one earning the income.
But this is a perilous decision that leaves you exposed to financial vulnerabilities that are hiding in your blind spot.
In this episode, I’ll shine a light on those dangers, and show you how you can get the coverage you need even if you think it’s currently beyond your ability.
Listen now!
Show highlights include:
“Hiding in plain sight” reason breadwinners miscalculate how much coverage their spouse needs. (1:29) Dark way your emotions betray you in IBC planning. (6:30) Why all the benefits of IBC can’t save you if you refuse to be honest about your insurance needs. (7:55) Strategic way to use term life to cover your spouse if whole life isn’t an option. (9:00) Secret reason the ultra-rich put whole life coverage on their stay-at-home spouse, even though they don’t need the death benefit. (11:52)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509Infinite Banking Mastery (infinitebankingnorthwest.com)
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Manglende episoder?
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You know IBC is flexible enough to utilize for all sorts of financial plans. And if you plan to use your banking system to help you finance things like cars or college you might be wondering: “Should I have different policies for different uses, or is it fine to do everything I want from one policy?”
It’s a great question, and in this episode, you’ll hear why the answer largely depends on where you are in your IBC journey, and what you want to accomplish.
I’ll also explain when one Whole Life policy is enough, and when you should have several.
Listen now!
Show highlights include:
Why it’s better to start IBC as high as your budget will allow instead of starting lower and increasing later. (1:18) Dangerous thing some Whole Life companies allow that could destroy your IBC system. Especially if you don’t read your mail every day. (2:20) “Irreplaceable” asset you lose forever by starting small to test out IBC. (4:50) Surprising ways to make arrangements for yourself and your family, even if you can’t afford a plan for every family member right now. (6:50) What Infinite Banking can do for your young scholar that a college savings plan can’t. (9:12) How multiple policies can save you from accounting nightmares, especially if you don’t like keeping close track of everything yourself. (10:35)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509Infinite Banking Mastery (infinitebankingnorthwest.com)
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You’ve heard about the flexibility Infinite Banking provides, but you might be wondering: Can I pull income from my IBC plan in my retirement?
The short answer is a resounding “Yes!”
But there are a few things you’ve got to keep in mind before you rush to take out funds.
That’s why in this episode I’ll explain how it works, and what to watch out for so you don’t make a very expensive mistake.
Listen now!
Show highlights include:
What’s the difference between building a policy in a more traditional way vs. building for IBC. (2:00) Will Dave Ramsey ever like Whole Life insurance? Why Valerie thinks he’d never admit it, even if he secretly changed his mind. (6:00) “Should I go for a low base premium?” Why this trend is a choice you’ll regret. (8:06) How to balance your policy so you aren’t low on cash when you need it the most. (9:51) A whole life contract you don’t have to pay premiums on for your whole life? It’s possible! Details here. (10:32) Why the strategy for repaying loans to yourself changes once you hit retirement. (11:32) Two lurking dangers waiting to ruin you if you don’t structure how you borrow against your policy. (12:20) What a policy lapse is, and why it’s especially bad if you’re in retirement age. (15:04) 10 years away from retirement. Is it too late to prepare? Valerie’s answer. (15:42)Reach out to me:
[email protected]
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com) -
With traditional methods, you can do one of two things with your money: Spend it, or save it.
If you spend it, that money’s gone and can’t be used for anything else. And since you’ve spent it, it can’t appreciate for you: meaning you miss out on more than just the face value you spent.
That’s why it’s important to think about opportunity cost: the dollars you really miss out on when you have to spend your resources instead of saving or investing them.
In this episode I’ll explain exactly what I mean by this. I’ll also share how IBC can safeguard you from squandering a fortune in opportunity costs.
Listen now!
Show highlights include:
How IBC lets you “have your cake and eat it too” with your money. (2:57) What is “opportunity cost” anyway? Crystal clear definition to eliminate confusion. (3:03) Sneaky way car payments keep you broke, even if they’re well within your budget. (3:52) How to spend today without compromising your savings for tomorrow. (8:17)Reach out to me:
[email protected]
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com) -
By now you know your most valuable asset is your ability to earn an income. And you realize you can use disability insurance to protect yourself against absolute financial disaster.
But you might still be thinking that common thought: “Other people get hurt, sick, or disabled, but that’s not going to happen to me.”
In this episode I’m sharing real life examples so you can see that real, ordinary people do end up needing this coverage. And why even though there are limits, disability coverage provides a whole lot better than nothing in the event you do need those benefits.
Listen now!
Show highlights include:
Jarring reminder of how quickly your world can unravel from disability. IF you aren’t prepared. (1:38) What a fancy yacht can teach you about disability insurance. (3:09) How to navigate a gap in your company’s coverage so you aren’t caught unguarded if you get sick or injured. (5:10) How an individual plan can keep COBRA from squeezing your savings. (6:22) Surprising real life disability claims prove unexpected things happen even if your job isn’t dangerous. (8:23) Didn’t know it covered that? Arthritis, asthma, and other common ailments that can be covered by disability insurance. (10:12) They didn’t think they needed coverage. Heartbreaking account of “I don’t need it” turning into “I wish I had it.” (10:58) Why you could still qualify for disability payments even if you’re able to work a different job. (12:10)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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Your most valuable asset is your ability to earn an income. But the majority of Americans do little to protect it.
This is alarming because nearly ⅓ will suffer a disability sometime in their career that forces them out of work for at least three months. And it’s not just people with tough jobs like building bridges or mining coal.
If you’re one of those under-prepared Americans, don’t panic just yet…
Because in this episode I’ll explain how you can protect yourself against a disability that would obliterate your finances.
Listen now!
Show highlights include:
Four dangerous myths that stop people from buying critical coverage. (1:43) The surprising survey that says half of working Americans are just a few weeks away from financial ruin. (2:24) Why you don’t have to work in a dangerous industry to be at risk of disability. (3:17) Long term disability coverage won’t cover something you already have? Here’s why to get the coverage anyway. (4:19) How a comfortable desk job makes you a prime candidate for long term disability coverage. (5:00) Think Uncle Sam will take care of you if you’re disabled? (5:27) Why trusting your company’s disability plan could let you down when you need it most. And complicate your taxes! (7:31) Questions to ask Human Resources to know for sure your company’s disability coverage is right. (7:52) When short term disability coverage actually lasts long enough. (9:20)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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You’ve heard the conventional wisdom: “Save 10% for your future self.” But different experts say different things…10%, 20%...who’s right? And what if your expenses are so high you think you can’t save anything?
This is the episode for you if you’ve been wondering about how much to save toward retirement. I’ll explain why there isn’t a “cookie cutter” answer, and what to consider as you make your own decision.
I’ll also share surprising pitfalls you need to watch out for so your assets don’t get plundered.
Listen now!
Show highlights include:
Why it’s impossible to put a percentage on how much you should save for the future. (1:25) Overlooked expenses that leave retirees struggling to keep their house–even though it’s paid off. (2:09) Tax man’s 1-2 punch waiting for you in retirement. Know now so you won’t get sucker punched! (3:34) Heartbreaking way assisted living needs can expose your assets like a carcass in the desert…and the vultures waiting to pick it clean. (5:30) How to use IBC to protect yourself in your retirement years. (9:30)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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You like the idea of IBC, but you’re wondering if you really have the money it takes to get started.
You’re not alone! It’s normal for clients to wonder if they can really afford this, and how much they need to get started. That’s why in today’s episode I’m going to help you understand why I advise the funding levels that I do.
I’ll also explain why your exact number won’t be the same as somebody else’s, and why that’s a good thing!
Listen now!
Show highlights include:
Counterintuitive reason you should always aim for the high end of your budget range. (1:14) The one question you need to ask to know the right level for you. (1:25) What IBC rookies misunderstand about borrowing and the death benefit. (2:11) What a coffee stand can teach you about IBC. (3:25) Tight budget? Try looking in these places to find the funds you need for your premium. (7:19) Unexpected (and costly) headaches if you try to go UP in premium after you’ve started your policy. (9:11) How to use term life insurance to maximize IBC…and you won’t need any extra underwriting! (10:43)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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One of the things we love about IBC is that you can set up a system to BYOB–”Be Your Own Banker” and essentially borrow money “from yourself”…at far lower rates than conventional banks offer.
And while repaying these loans comes with LOTS of flexibility, for best results you do want to get them repaid.
That’s why today I’m talking about ways to do that without burdening yourself with payments, and without giving yourself an accounting nightmare.
I’ll also share an additional option that lets you leverage your existing bank account to repay your loans in a timely and effective way.
Listen now!
Show highlights include:
Amazing flexibility that comes with borrowing from yourself. Especially great if most of your bills all come due at the same time each month (2:30) The one new bank account you may want to acquire for clearer accounting. (3:10) Questions you need to answer when determining how to pay yourself back. (3:45) It’s possible, at this time, to acquire a whole life policy that only charges you 4% interest on loans. Here’s why you should pay yourself back at a higher rate. (4:33) Paid back your loan? Your options for what to do next, explained. (5:45) How to leverage your bank’s “bill pay” feature to put IBC’s loan repayments on autopilot. (6:47) Important thing to keep in mind regarding your bank’s bill pay option. (9:20) “Exacting” way a good agent can help you optimize your loan repayment plan. (10:15) The two big “No Nos” of borrowing from yourself. (13:02)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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Every now and then I’m asked if churches can use Infinite Banking. And I wish more churches would ask, because the answer is “Yes!”
If you’re in church leadership, or just a member of a congregation you care about, then this episode is for you. I’ll explain why IBC is a great option for churches who want to use their financial blessings wisely. And I’ll tell you why IBC makes more sense than a savings account or CD with the bank.
Listen now!
Show highlights include:
Why Uncle Sam lets policies built for churches be even better than policies for individuals. (1:10) Bank products have their highest interest in years. But here’s why churches should choose IBC instead of getting swept away by the current rates. (2:47) Risky thing, I don’t believe churches should do with their money. (4:20) Who should the church insure? Surprising reason staff members aren't always the best option. And where they could look instead. (4:45) How churches leverage IBC to keep their preacher from being dependent on social security after a lifetime of faithful service. (6:50)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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You owe the US Government $519,000.
What? How?
Well, as a nation, we owe over $31 trillion owed in funded liabilities (debt.) And we also owe over $173 trillion in unfunded liabilities (even more debt.)
Worst part?
According to David Walker, ex-CPA of the USA, your future tax rate will need to double — or else the nation will declare bankruptcy.
Imagine paying double the taxes you already pay. With taxes projected to double, trying to build a nest egg will be impossible. Imagine what your retirement would look like if the government legally takes nearly half of your salary (or your retirement income).
In today's episode, I reveal two ways to build tax free wealth.
Listen now!
Show Highlights Include:
Excited to get a lower tax rate when you retire? Here’s why you could be stuck paying a tax rate of 74% at 80 (5:21) How to avoid an insidious “tax” that penalizes you 50% for saving money in your nest egg (9:00) 2 tax-free savings vehicles you can access in retirement (10:18) Is your income too high for a Roth IRA? If so, check out “CVLI” as an alternative (and pay no taxes on your savings) (10:32)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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It’s great to have a whole life insurance policy for each member of your family. But what do you do when your budget simply won’t allow it?
In this episode we’re talking about how to do the best you can with the resources you have so you can provide for your children.
You’ll learn what a Child Rider is and why it’s a great option for most people who have financial constraints.
I’ll also share why the first month after your child turns 25 is a golden opportunity that can help them for the rest of their lives.
Listen now!
Show highlights include:
Why having a favorite child can get you in hot water with life insurance underwriters. (1:06) How to affordably cover all your children, even if you have enough for a basketball starting lineup. (2:49) “Know before you go.” Avoid surprises in underwriting by knowing these extra steps needed to add a child rider. (8:35) Can’t insure everybody? Why covering yourself first is the best move for your family’s legacy. (10:53)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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The death benefit isn’t the primary concern for most people who use Whole Life Insurance for Infinite Banking. But it’s still important!
In this episode I’ll explain why you cannot afford to overlook what a benefit it is.
I’ll also share a true story that illustrates why, in some cases, the death benefit is the most important part of the legacy you leave behind.
Listen now!
Show highlights include:
“Immediate relief” your death benefit provides in case of a long term care need. (2:29) What happens if you pass away within 2 years of acquiring life insurance. (5:17) Unexpected reason term life insurance becomes a secret weapon to protect your loved ones. (7:40) “Optimistic” thinking that dooms your loved ones to misery and struggle when you die. (8:04) Stunning true story reveals flexibility and benefits of whole life insurance. (10:18)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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Everybody who understands Infinite Banking wishes they had known about it sooner. So it’s no wonder many of them ask: “Am I too old to start?”
I get this question a lot.
So if you’re concerned you’ve missed your chance to use IBC this episode is for you. I’ll explain why in most cases it’s not too late, even if you’re already at retirement age!
Plus, I’ll explain your options for those rare cases when age really does get in the way of starting an IBC strategy that meets your goals.
Listen now!
Show highlights include:
Surprising age when Valerie’s father started IBC. Still think it’s too late for you? (0:51) Why starting sooner than later has its advantages, but doesn’t mean you’re sunk if you’re late to the game. (2:17) “Legacy Factor” that makes IBC worth it for retirees, even if they’re just starting. (4:29) The knowledge trap smart people fall into that derails their financial planning. (4:41) Crucial thing to know about your adviser that’s more important for your success than everything you know about IBC. (6:18) Want to gift your grandchildren with IBC? Know these hurdles before you start. (8:00)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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You’ve come into a big lump sum of cash, and you’re already using Infinite Banking. Naturally you wonder: “Is there some way I can use these funds to help my system?”
Yes! You certainly can. And in this episode I’ll explain your three best options, and why two of them are usually better than the other.
In the interest of full disclosure I’ll also share a fourth option. It’s NOT the best idea in most cases, but I’ll tell you why it makes sense sometimes.
Listen now!
Show highlights include:
The first place to look if you have a lump sum and want to use it toward your existing IBC. (1:04) Surprising reason why paying extra now could cost you a lot more later. (2:30) Critical questions you need to ask before using a lump sum to establish more whole life policies. (5:00) “Premium” rule for growing your banking system, and how to leverage it in your favor. (6:25)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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You’ve just come into a big lump sum of cash, and you’re ready to get started with Infinite Banking.
Is it best to put it all into your banking system right away, or is there a better approach?
In this episode I’ll share why it usually isn’t best to put an entire lump sum into a new banking system. I’ll also explain an option on how to get that entire lump sum into your IBC over time, without spending that excess money on other things in the meantime.
Listen now!
Show highlights include:
Troubling “domino effect” set off by overfunding your system at the beginning. Why the last domino could be an expensive visit from Uncle Sam. (1:15) One suspicious thing new IBC clients do that always alarms the underwriter. (5:30) How to find the “sweet spot” for spreading out a lump sum. (8:21) The real lynchpin in a policy started by lump sum dollars. Hint: it isn’t how much you put in today. (9:20) Components of a sustainable IBC strategy, and why it isn’t as easy to put together as you think. (10:00) Clever way your insurance company can help your lump sum do its job over time without risk you’ll spend the money on something else instead. (11:30)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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There’s been a lot of buzz around Universal Life Insurance policies. Mostly because they offer great flexibility in their premiums, and they sound great at first glance.
So you might be wondering: is this a better way to do infinite banking?
That’s what I’m talking about today on the podcast. I’ll explain what Universal Life Insurance is, and why there are several types. And I’ll tell you why I still believe whole life insurance is the way to go.
Plus, if you’ve got term life insurance you’re hoping to convert to whole life in the future: I’ll share something you need to look out for.
Listen now!
Show highlights include:
Sneaky reason insurance companies keep introducing new Universal Life policies. (1:47) How clients with Universal Life policies often end up with no cash value in their policy. And why it’s more common than you think. (3:30) Term life insurance premiums can double, triple, or more from one term to the next. Here’s what to do if it happens to you. (5:12) You can have a whole life policy and only pay for 10 years. But should you? What to consider before deciding. (10:00) Nelson Nash’s guiding principle that lets you use IBC even if you never have a bank account or insurance policy. (11:36) Shocking details lurking inside universal life policies. Great for the insurance company, but is it good for you? (12:17) What the TikTok influencers aren’t telling you about universal life. (13:54)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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It can be hard enough to pay all your bills when you’re healthy.
What if hardship strikes and you can’t make your bills? How will you ever pay your whole life insurance premium? Is your policy doomed to lapse, or is there something you can do?
This is a question I get a lot. And today I’ll explain different options (all legal and ethical) to keep your Infinite Banking plan together when life seems to be falling apart.
Listen now!
Show highlights include:
Prime place to look for relief if your hardship comes from being unable to work. (1:15) How to borrow against your policy to pay your policy, without destroying your available cash value. (1:57) Afraid to borrow from your policy to pay the whole premium? Try this instead. (2:47) Looking for a premium discount? Hidden way to pay less. (4:36) Why missing your grace period isn’t the end of your policy…if you can clear these hurdles. (5:28) “Raise the roof” reason to fully fund your policy in year one–even if money is tight. (8:32) Why forcing yourself to play catch up in funding your policy could open the door to a tax nightmare. (9:57) Why you shouldn’t use dividends to pay your premium, even when they’re big enough to do it. (12:06) Hard truth behind Universal Life policies’ flexible premiums. They sound appealing until you know this. (14:24)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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You like the Infinite Banking Concept, but you honestly wonder: “What company is the best for the whole life insurance I need to get started?”
It’s a question I get a lot! And even though I can’t give a cookie cutter answer, in this episode I’ll explain why that’s actually a good thing. Plus, I’ll tell you what to look for to get a great policy no matter what company you choose.
I’ll also explain the Infinite Banking decision that’s even more important than the insurance provider you pick.
Listen now!
Show highlights include:
Surprising parallels between insurance companies and world-class heart surgeons. (1:29) Avoid the confusion! There are different types of life insurance, here’s exactly why mutual life insurance is best for Infinite Banking. (5:03) What Valerie looks for in whole life policies. Good to know regardless of what agent you work with. (5:46) Ironic reason an agent who works with lots of companies won’t actually get you the best service. (6:45) Why the wrong advisor can hurt you far more than the insurance company chosen. (9:19)Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
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