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Introduction to Becoming Your Own Banker
© 2023 Ascendant Financial Inc. All rights reserved.
The supporting material, audio and video recordings and all information related to Introduction to Becoming Your Own Banker, The Infinite Banking Concept posted on ascendantfinancial.ca and all other Ascendant Financial Inc. websites are designed to educate and provide general information regarding The Infinite Banking Concept and all other subject matter covered. It is marketed and distributed with the understanding that the authors and the publishers are not engaged in rendering legal, financial, or other professional advice. It is also understood that laws and practices may vary from province to province and are subject to change. All illustrations provided in these materials are for educational purposes only and individual results will vary. Each illustration provided is unique to that individual and your personal results may vary. Because each factual situation is different, specific advice should be tailored to each individual’s particular circumstances. For this reason, the reader/viewer is advised to consult with qualified licensed professionals of their choosing, regarding that individual’s specific situation.

The authors have taken reasonable precautions in the preparation of all materials and believe the facts presented are accurate as of the date it was written. However, neither the author nor the publishers assume any responsibility for any errors or omissions. The authors and publisher specifically disclaim any liability resulting from the use or application of the information contained in all materials, and the information is neither intended nor should be relied upon as legal, financial or any other advice related to individual situations. Any mention of premium deposits is actually referring to premium payments. If any content creator uses the word “deposit(s)” it was done in error if they are speaking about the premium payment(s).

The Infinite Banking Concept® is a registered trademark of Infinite Banking Concepts, LLC. Ascendant Financial is independent of and is not affiliated with, sponsored by, or endorsed by Infinite Banking Concepts, LLC.

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Becoming Your Own Banker – Keep Taxes Away From Your Wealth

When it comes to personal finance, it’s important to know all the options available for managing your money. One strategy that has been gaining popularity in recent years is Becoming Your Own Banker. This strategy involves creating your own private banking system, which allows you to keep your wealth and your investments away from taxes and market fluctuations.

The concept of Becoming Your Own Banker was originally introduced by R. Nelson Nash, a financial educator and author. Nash outlined the strategy in his book, “Becoming Your Own Banker”, which details how individuals can create their own private banking system using whole life insurance policies.

The basic idea is to use whole life insurance policies as a means of accumulating cash value over time. Unlike term life insurance policies, whole life insurance policies accrue cash value that grows tax-deferred. This cash value can be accessed through loans, which can be paid back at any time or kept outstanding for as long as necessary. By creating this private banking system, individuals can borrow from themselves instead of relying on traditional banks or financial institutions.

One of the primary benefits of Becoming Your Own Banker is that it allows you to keep your money away from taxes. Because the cash value of the life insurance policy is growing tax-deferred, you can access this money through loans without incurring any tax liability. This makes it an attractive option for individuals who are looking to build wealth and protect their assets from taxes.

Another benefit of this strategy is that it allows you to keep your investments away from market fluctuations. With traditional investment strategies, your money is subject to market volatility, which can result in significant losses. By using whole life insurance policies as a means of accumulating cash value, you can keep your money safe and secure, while still enjoying the benefits of compounding interest.

Of course, there are some downsides to Becoming Your Own Banker. One of the biggest concerns is the cost of whole life insurance policies, which can be significantly higher than term life insurance policies. Additionally, if you don’t make your loan payments on time, you could risk losing your policy or seeing your cash value decrease.

Overall, Becoming Your Own Banker can be a powerful strategy for managing your finances and protecting your wealth. This strategy allows you to keep your money away from taxes and market fluctuations, while still enjoying the benefits of compounding interest. If you’re interested in learning more about Becoming Your Own Banker, it’s important to do your research and speak with a financial advisor who can help you determine if this strategy is right for you.