Breakaway Wealth: Episode 6 – Many people opt for stocks as their vehicle to financial freedom, but this comes with risks. What are some of the ways the Infinite Banking Concept beats any stock? What is the difference between stock insurance companies and mutual insurance companies? Does a perfect investment exist?
On this episode, Matthew Anderson shares on working towards financial freedom after years of med school, and why he favors having control of his money over anything else. He gives us valuable insights as a young person who has embraced Infinite Banking.
“Financing is the easiest and probably one of the safest ways to make money. Why wouldn’t you want to do that yourself?” -Matthew Anderson
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Three Things We Learned from this Episode
- The volatility that comes with the stock market
A lot of people put their financial future in stocks. The problem with this is that you won’t have peace of mind. What if something happens in the global economy that causes the stock market to crash? This is something we don’t have to worry about when we do Infinite Banking.
- How insurance companies work, and how to choose the right one
Stock companies are owned by shareholders, and mutual companies are owned by policyholders. When we buy an insurance policy with a mutual company, in effect we become owners of that company, and we have more control.
- The need for business knowledge in the medical field
Medical students are working towards professions where they will be earning more money than the average person, and actually running a business when they set up their practices. However, they aren’t given any sort of business training, leaving a need that must be addressed.
Infinite Banking offers us something very few other investment opportunities give us, which is peace of mind. The IBC offers uninterrupted compounding of our money and better insight into how money, economics, and cash flow work. You can also create financial stability for generations to come. The ability of this concept to grow and have tax free death benefits means it outperforms any stock.