How to become your own bank? For just a second... Imagine this... What if you can become your own bank - paying yourself the interest? Instead of paying interest to a corporation or other people, why not pay YOURSELF the interest? Introducing... The Infinite Banking Concept. This concept has different names such as the IBC, accelerated retirement, Be your own Bank, Be Your Own Banker, etc... We have a SPECIAL guest that will join us to explain this strategy in GREAT detail!

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Alright, so how does this concept or strategy work? How do you become your own bank, pay yourself interest? So let's break it down...

1. This concept involves creating a Life Insurance Policy. Traditionally, individuals have used Whole Life Policy to overfund their cash value. By overfunding your cash value, you also have the option to be able to borrow against your cash value while part of your cash value is still growing in compound interest. .

2. Borrowing Against the Cash Value means that you'd have to pay yourself back the interest. It works similarly to borrowing against a 401(k) but the cool part about a Universal Index Policy is that there aren't any structured payments or terms of the debt against your cash value. Meaning, you don't have monthly payments or you don't have a set deadline as to when the debt needs to be paid off in full.

3. You can borrow against the cash value to pay off your mortgage, debt, student loans, etc. You can also borrow against the cash value for future real estate deals or simply to buy a new home. There are many real estate investors using the infinite banking concept to fund their own fix and flip projects, paying themselves interest, all awhile the cash value is still growing in compounding interest. Or... If you want to keep it plain & simple, you can use it to retire faster by simply making contributions to the cash value while growing it on compounding interest.

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--DISCLAIMER-- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.