Using Infinite Banking To Grow Your Money TAX FREE ( @karltondennis )

So when we talk about when someone says infinite banking or they save their money into life insurance, I'm like, what is, what is your thoughts on that? And from a tax professional and strategist, what do you, what do you think of the strategy and what are like the pros and cons that you see with someone like saving their money and using it throughout their life using life insurance? Yeah. So first off, I'm a big fan of life insurance because when you're a tax strategist, you study all areas of tax avoidance. And I love that life insurance has two different plays. There's a play for when you're alive and there's a play for when you're dead. And most of us are going to want to leverage more plays while we're alive, but most people aren't aware of the plays that exist in life insurance while you're living and breathing. And so what I educate my customers on after I've saved them a lot of money is how are you growing this money tax-free and how do you leverage tax-free growth? Many of them are like, are you mean a Roth IRA? And I'm like, Oh, that's only $6,000 a year. How can we put more money away? That's tax advantage for you. We go back into investments, like the ones I'm telling you that you need, which is real estate. And you're like, yeah, I don't have the answer to that. And so I let them know about some of the things that I'm doing on the life insurance side, whether it's IULs or whole life insurance policies and how, you know, I have cash value. That's just growing that I can access. And once you show somebody that, and they really understand it because it's going to take more than one conversation. They really realize that the system is probably one of the best systems that is set up to build wealth. And so you use this in combination with other wealth building tools to really have a balanced portfolio. Yeah. So one of the things that is like the big epiphany for a lot of people is this is not an investment. I'm not saying that you do this over real estate. I'm not saying you do this instead of investing in your business. This is the end asset. I wrote the book, the end asset. And so for me, it was like the epiphany is like, you can have this and something else. Was that like, for when you heard, like, what was the epiphany for you when you're like, Oh, life insurance, like I don't have to choose anymore. The epiphany happened when I kept getting frustrated with my Roth IRA at like 22 years old. I just didn't understand why there was a limit around it. And then one time I ran into my insurance advisor who told me, Hey, there's a better way for you to be able to grow more money tax advantage in combination with the other investments that you have going on. So like you just said, the end asset, it was literally an addition that I needed to add to my layer of planning. And when I made that investment to start including life insurance into my whole portfolio, I was able to really grow in that matter that I want to grow in. Now I'm able to borrow against my policy and put things into real estate, which is one of my bigger passions that I have. So yeah, I'm able to use life insurance to buy more investment properties. I love it. And my money is going tax free. Yeah. What would you say to someone like Dave Ramsey, Ramit Sethi, Susie Orman? There's other financial gurus out there. Some of our friends on YouTube that are like, life insurance is horrible. And I'll just say, I agree with them. In a lot of cases, life insurance is not set up properly. A lot of people are selling it as an investment. And 95% to 8% of the time, I see bad things happening using life insurance. So with that, what would you say is like, what is your comeback to when people are like, all life insurance is bad? That's like saying like, every business owner is good. Yeah. Right? Yeah, that's good. Like, you're going to run into business owners who aren't ethical. And you're going to run into sales reps who aren't ethical. You're going to run into people who sell you things that you don't need. You're going to run into car salesmen who are putting on packages and getting you to pay for financing things that you really don't need. And so when you think about it, when it comes to life insurance realm, it's really easy for a sales rep to make commission off of selling life insurance. So for someone who's early on, doesn't have a consistent income, yeah, it's easy to be sold into a life insurance product where you don't truly understand what's going on. And then a couple of years later down the road, it becomes a big burden for you to make those payments. And then you give up on the entire idea of life insurance and everything that you heard from every other person all of a sudden falls true. But if you really look at the wealthiest of individuals, the wealthiest of individuals have big life insurance policies and they're borrowing from them and they're set up carefully and they're structured carefully and they're utilizing them. They're not just sitting there for them. It just is that money out of their bank accounts every single month. Yeah. What I, what I always say is instead of doing what the banks tell you, actually look at where their tier one assets are, look at what they're actually doing. And we can model something similar in our own life. Anything else you want to say as it relates to life insurance and banking? I know, again, done a lot of research and the fact that you have this part of your portfolio should say a lot. Yeah. I mean, just ask yourself right now, what are you currently doing to build tax-free money outside of the 6,000 you're putting in your Roth? And if you don't have an answer to that, that's, that should solve the problem for you right there. You should solve that problem for yourself. So if people want to pay less in taxes, what's the best way to enter into your world and community? Find a tax strategist first. You can reach out to my company by visiting any of our social media channels, reaching out on our website and getting in touch with us today. That'll definitely be the first place that you start. There is a difference between a tax preparer and a tax strategist, and you do need both on your team. Once you've solved the tax problem, your next problem is, is how do I grow the money? And that's when you need to meet with a wealth advisor. And I will say an incredible YouTube channel. We'll also link that down below, because if you are not, if you're not maximizing strategies and like no strategy as it relates to taxes, you got to be following Carlton. I love you, bro. Yeah. Appreciate you, bro. I love you too. All right.