BY JASON K. POWERS ON MARCH 22, 2023
Jason K. Powers says we are in strange times, financially speaking. Any given day, we can turn on the television and hear someone talking about the inflation rate, consumer debt, a boom or bust cycle, investment decline and more. Click here to read more.
At the time of this writing, the U.S. national debt is up over $30 trillion, student loan debt is up past $1.7 trillion and credit card debt has surpassed $1.1 trillion. Just ten years ago, the U.S. national debt was at $15 trillion with credit card debt hovering around $852 billion. Let those numbers sink in.
Let’s take a minute and visualize what one trillion dollars looks like. If you spent $1 per second you will have spent $86,400 in one day or $31.5 million in a year. It would take you nearly 32,000 years to spend 1 trillion dollars. Again, our country is $30 trillion in debt. You can draw your own conclusions on the impact of this kind of spending.
Personal finances for thousands are in shambles or at best traumatized. Savings accounts are being depleted, retirement accounts are taking a beating, interest rates are rising, and the list goes on.
How do we protect our hard-earned money? Where do we store money besides our bank accounts & qualified employer or government-controlled environments?
In our financial world, most of us prefer to have our money in something that is safe, liquid, has a high rate of return, is tax advantaged, can provide a (future) source of income, isn’t correlated with the stock market if it can be helped, acts as a hedge against inflation, and is creditor protected. It is ok to dream, right?
Change the way you think about your finances, and it will change your future.
One little known strategy used by the wealthy is putting money through a properly structured whole life insurance policy and utilizing the cash value access to create financial velocity. We call this the Infinite Banking Concept. It is an avenue where you can warehouse your wealth allowing it to compound year over year (internally) even while you’re using it (externally) to make even more money. It is a place to warehouse your wealth while at the same time borrow against it to use for real estate investing, private money lending, financing your own car, a down payment on a house, buy a house outright, and even retire on.
One may wonder why the wealthy use this strategy. One has to wonder if simply changing the way we think about money can change our financial trajectory, while still allowing us to do the things we love.
What would your life be like if you never had to pay high interest to an outside bank again. Imagine financing your own deals. Imaging what it would be like if you could be your own bank.
The time to start is now.
Jason K Powers is a Multi-Business Owner, Real Estate Investor, Life Insurance Agent and an Authorized IBC Practitioner. Jason works with clients across the country showing them how to achieve their financial goals by taking control of the banking function in their life and creating financial velocity that can last for generations. Learn more by visiting https://1024wealth.com.
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