Infinite Wealth Blog

In our latest episode of the Blue Sky Financial Flow podcast, I delved into a crucial topic that every policyholder should be aware of: the potential transition of a non-MEC (Modified Endowment Contract) policy into a MEC. I want to shed light on the intricacies of this shift and how it can impact the tax consequences and overall performance of your life insurance policy.

The Power of Entrusting and sharing and perpetuating wealth in a world where the concept of wealth often revolves around monetary gains, it’s crucial to explore the deeper implications of exploring how we go about entrusting and sharing to perpetuate wealth across generations.

We’ve been asked more often in recent months this question in one form or another about where our dominant dollar currency is headed. Well like you and I and most everyone on the planet we are all making our best guess based on what we know. We listen to those folks we listen to and respect their opinions based on certain parameters we us to come up with that sentiment about them.

My own mortality has come into focus as the years tally up. In my youth of a 5 year old I never could imagine becoming old. In the hustle bustle of live it may be years before you begin to reflect on life and death. For me it came quickly (ages 17-19) with a series of near death accident and literally walking away alive. It had a profound impact on my world view and the question arises, “What am I going to do to be of use in this world and contribute to it’s betterment.

We recently had a conversation with someone that wanted to learn about whole life with a Mutual Insurance company is all about and this understanding wanted to be completed in a short call. This is nearly impossible if they want to know all the mechanics because they were starting from nearly ground zero. We spoke about goals and the stage of live they were in and a number of other matters around this subject. we asked if they would read a book or two or watch a few videos just to help jump start the learning. And then we asked them to give themselves the grace of time to learn.

In our recent chat I shared a personal anecdote about being called out by his daughter and a listener. He emphasized the importance of open communication and expressed his appreciation for those who take the time to share their thoughts and expectations with us.

We wanted to address the comment from our listener about Whole Life Insurance that was brought up in the episode.

When starting a project of building brick steps, my mind wandered to Whole Life Insurance. In thinking of the bricks as an individual, like us; no doubt, we are strong. Although when the mortar is applied and the bricks, (us) become connected and united we are much stronger.

Can you imagine if we became a community of collective users of Whole Life, strengthening, protecting and securing our families and communities because of the multitude of individuals in a given community that saved and stored capital in this nearly perfect vehicle for pertetuating financial wealth for generations. The things we could do…

Savings is the foundation of your financial Life, without it, you are like a shipwreck on the open sea, vulnerable to the winds of chance. I have been a saver at different times throughout my life, more off, than on. Although 4.5 years ago when I discover to my surprise the power of saving in a Whole Life product that is with a mutual Insurance company that pays interest daily and dividends annually our family had to get started as soon as possible because savings and consequently wealth accumulates over time, and the clock was ticking.

Once upon a time, people saved their emergency money in mattresses, coffee cans, and even buried in the backyard. This was at a time when inflation was low, so your money wasn’t really losing value just by sitting (though it wasn’t earning either).

Today, inflation is so high you’re almost losing money when you let it sit doing nothing. Gone are the days when storing your emergency or opportunity money in the house was a viable option.

You may not think of intuition as a key component of your financial planning. However, I’d like to propose that it’s essential. This is because so many of the choices people have to make financially can actually be antithetical to our intuition and what seems like “common sense.”

Use your intuition to answer this: Would you rather pay taxes on the seed or the harvest? I expect you would intuitively know that the harvest is more plentiful (and more immediately useful to you) than the seed. Why would you want to pay taxes on a larger portion?