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RE: Infinite Banking 101: Debtor, Saver, or Wealth Creator
Even though I had never heard of the IBC that you mention, I still consider myself to be a wealth creator, and not just one or the other.
Creating multiple streams of income is a simple way to ensure your future is in your own hands and not in the hands of the banking system.
Opening up an individual, non-taxable Roth IRA for example is a great way to ensure you will have more than '50,000 dollars' after making 2 million working a lifetime in lieu of the transfer of wealth.
invest now, for a better future, that's what I am gonna continue to do through my 20's 30's and 40's that way when im 50 i will be kicked back at my house in Jamaica, Jamaica smoking a fat joint with my Rastafari friends Mitchiganz and Blackz hahaha
Steem on my friend :)
Multiple streams of income is the way to go! I agree about opening a Roth IRA. It's one of 3 ways to create tax-free income that I blogged about in a previous post: https://steemit.com/ibc/@johnmontoya/3-ways-to-have-tax-free-income-in-retirement.
The challenge with the Roth IRA are the rules and restrictions Congress sets regarding how much can be funded which is not enough in my opinion. From a liquidity standpoint, only contributions into a Roth are accessible before age 59.5 without taxes and penalies.
IBC is a private, non-qualified account. This allows the freedom to do what I want with the money when I want. And it's tax-free regardless of how old I am. No need to wait unti 59.5 to create the lifestyle I want right now. :)
l'll have to check that post of yours out -- seems as though there is quite a bit of useful info. to gather from your page, so I will be following closely along the way.
Definitely going to be looking into IBC since it is even less stringent or 'strict' it seems than a Roth. Thanks so much for the valuable info. I will be using this to the best of my advantage.
Steem on & stay cashin' in!!
You're very welcome. If you find value in my posts, please consider resteeming and sharing on other social media. I appreciate the dialogue!
yes, for sure. you shall see me around... I will definitely consider sharing on other social media sites where I am activily engaging with the community.
Keep up the solid work, your ethic is there , so I will be rewarding you on your journey just as you have shown me.... steem on and stay cashing in, of course :)
Respect from
@conradsuperb