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Considering Infinite banking
Post Body
I'm having a hard time understanding it fully but still reading books on it.
I'm on the verge of making about 200k through my corporation annually and a financial advisor suggested this to me.
My questions are:
- How do I take the entire money out in the end when I just want to retire and is this tax free or do I just burrow against it and then leave it for when I pass away and then it gets taken off?
- When I pass away, the cash value goes to the insurance company and the benefit coverage to my family. Doesn't this make it not worth it?
- How is burrowing against it interest free when using banks? don't they always charge interest?
Any other things I am missing? How is this better than a tax free savings account? I guess the main benefit is for investing and getting compound interest on the cash value which is great but not for things like using the money for vacations?
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- 1 year ago
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