Moneymakestheworldgoround,butoftenitfeelslikeour moneyhelpskeepthebank’swheelsmovingwhiletherestof usarejuststuckinfirstgear.
IOwnMyBank’sInfiniteBanking Conceptguideoutlinesatax-free lendingsystemthatyoucanuseto fundlargepurchaseswithout incurringthefeesassociatedwith bankloans.
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Thisstrategyinvolvespaying premiumsintoawholelife insurancepolicytobuildupits cashvalue,whichyoucanthen accessin30daysfollowingthe policy’screation.
Theguideexplainsthatthe advantagethisstrategyoffers isthatwhenyoutakemoney outofawholelifeinsurance policyintheformofaloan,itis notataxableevent.
Astheloanedmoneyisnot consideredincome,youcan usethismoneytofundlarge purchaseswithoutincurring theadditionaltaxcostsofa traditionalbankloan.
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