Posts Tagged ‘Taxes’

Taxation, Money And Banking, With The Infinite Banking Concept By Becoming Your Own Banker

Thursday, March 11th, 2010

Money is an asset! Try living a week to 10 days without it and you will appreciate just what an asset it really is. But most people do not treat money like an asset and therefore they destroy moneys best quality. You see money treated as an asset multiplies exponentially.

It has been written that “The value of an asset increases exponentially while the value of your labor only increases incrementally.”

Most people are concerned about the rate of return on their money when they should be concerned about the return of their money. And so they lose the real value of their money by giving it to someone else.

Consider the following:

Where does all your money go when you get a paycheck?

Your bank or a third party’s bank?

Do you or someone else profit the most from this way of doing business?

The late Adrian Rogers argued that you cannot multiply wealth by dividing it. Ritually, putting your money into a Bank owned by someone else gives someone else control of your money— not you. This simple process— the separation of you and your money— can be very costly. Remember, every time you lose control of your money, you lose money! Once you give the control of your money to others they can assess fees and service charges, use your money to make themselves money, or lose your money and pay you little or nothing for compensation.

Nobody is financially independent until they have mastered the concept as taught in the book Becoming Your Own Banker, by R. Nelson Nash. Nash teaches a concept called Infinite Banking which will teach you how to control and benefit from the financing equation which is as follows:

You lose money whenever you buy anything. You lose money that you could have earned in interest when you pay cash, or you lose the interest you have to pay someone else to use their money to make your purchase.

Do not be fooled, banks and financial institutions make money when they loan your money out to others. If you practice Becoming Your Own Banker however, you are the one who will profit the most by allowing for your money to return to you in a tax free environment the IBC way.

Dr. Tom McFie is a professional financial coach and is widely known for helping people recover the money they currentley spend. Don’t Make another payment until you have watched his Infinite Banking Video Then Contact him he can help you

Financial Guru or Group Entertainer

Tuesday, March 2nd, 2010

“you decide”

I touched the search button on my car radio the other day and landed on “The Dave Ramsey Show”. The caller had this story to tell:

“I am the owner of two houses that are in Florida, one is worth $250,000 and the other $350,000. I have paid for both of them.”

“I have a transmission shop that is worth $400,000 but I still owe $70,000 on it.”

“I own our current home which is worth $350,000 and owe $120,000 on it.

“My wife works and brings home $90,000 after taxes and I work at my shop but have not been able to bring home any salary due to the economic downturn for the past 6 months.”

“I have been trying to float my shop expenses due to this downturn and because of this I now owe $90,000 on credit cards.”

“My wife does not want to sell either of our properties in Florida because we would lose over 45% by the time we pay listing and seller fees.”

“What should we do?”

Dave began ranting and raving about the wife of this man being so impracticable in this critical situation and then he recommended that this fellow should sell one of his Florida homes to get out of debt! This recommendation is disastrous for many reasons. Here are some:

It assumes he values money over his relationship with his wife by mocking her concern and advice.

Next it assumes that, in a very depressed market he will be able to sell his property(s).

It also assumes that if he pays of his debt he will not incur any further debt in his business.

It assumes the financial crisis is over.

It goes against common sense by assuming that getting out of debt produces financial freedom.

But let us only examine the facts:

If this gentleman can sell his house for 55% of what he has into it then he will receive max, $190,000 on the $350,000 home and less on the $250,000 home ($137,000.) This will pay off his current debt and leave him with $47,500. At the rate he has been spending money in his business this will last him roughly 3 months. Then he finds himself right back to where he started from. Only this time he has no equity to liquidate and “save himself” from being in debt. Strike one Dave!

Secondly, to be debt free is just an allusion in society as we know it today. I only know a few debt free individuals and those are the people holding signs at intersections or parking lot corners. In our society you cannot be debt free unless you own nothing. Whenever you own something you face taxes, services fees, utilities etc. So guess what? This means that to live you have to have debt. Strike two Dave. Nobody wants to be a homeless beggar.

Thirdly, Dave this caller obviously has some financial acumen and you ignored this fact. Just consider all his entrepreneurial undertakings. This hack attack was absolutely unnecessary and totally of base. You employed the attorneys old trick, if you cannot find fault with the deed attack the person behind the deed. So, strike three Dave, you are out!

Actually this fellow has made some very sound financial decisions as evidenced by his asset accumulation and business acumen. And I will wager that his wife was not just an incidental bystander during that time. To insult and mock her is totally assign. But what can you expect? Call an entertainer for financial advice and you will get what you called for, entertainment right?

So besides prolonging his bankruptcy by selling his personal property what is out there that could help this caller?

Let us start with a little known, but nevertheless a true fact. Equity that is invested in real estate has no rate of return associated with it! The wealthy having known this for centuries have acted accordingly. This is the reason that the Infinite Banking Concept can be so beneficial to you. By Becoming Your Own banker you can have your money in a liquid form and secure place, still use the asset(s) which your money purchased and use the money that bought the asset(s) without penalization. Fact is, if you use the money for financing current needs and capital ventures… you will end up with even more money and assets with only one little caveat…you will not have to work any harder or longer to make that extra money because your money will be working too.

So even if Ramsey rants and raves against participating whole life insurance, do not be fooled, who cares what Ramsey says, if it is not true? The truth is that the people that pay these entertainers are the same ones that make money off of you by using your money at your loss.

Tomas McFie is a professional financial coach and is nationaly known for helping people recover the money they currentley spend. Don’t Make another payment until you have watched his Infinite Banking Video Then Contact him he can help you