What is Infinite Banking? The basic idea of the Infinite Banking Concept (IBC) – aka Becoming Your Own Banker – is built around funding whole life insurance and then leveraging the cash value via policy loans to self-finance debt, personal and business expenses, investments, and even to provide passive income for retirement. Some love the …

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Meet Dr. Randy and Sue Norris from Battleground, Washington! Several years ago, while attending a chiropractic seminar, Dr. Randy heard Tom McFie speak about the Perpetual Wealth Code and how life insurance can be used as a wealth management tool. It made such good sense that Dr. Randy and Tom connected with each other after …

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Recap of Whole Life Insurance Participating Whole Life Insurance (PWLI) is a lifelong insurance policy where premiums are paid annually. This contract involves the policy owner and the insurance company, with the company guaranteeing cash value growth during the insured’s lifetime and a specific death benefit to beneficiaries upon the insured’s passing. Additionally, the insurance …

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Disclaimer: Investing information provided on this page is for educational purposes only. McFie Insurance does not offer advisory or brokerage services, and does not recommend or advise investors to buy or sell particular securities. Table of Contents: Understanding a Volatility Buffer Understanding the Role of a Volatility Buffer The Role of Volatility Buffer in Counteracting …

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Table of Contents: Keep your business and personal expenses separate Invest in bookkeeping software (and a bookkeeper) Establish a budget Maintain accurate business records Select an accounting method Maintain updated financial records Optimize accounts payable (AP) terms and invoicing Segregate accounting responsibilities Monitor significant high-cost expenses Plan for significant investments strategically Exercise diligent oversight in …

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Table of Contents: Where Should You Keep Savings for Your Grandchildren? How to Save Money for Your Grandchildren Tips for Saving After You Stop Working Create a Savings Plan With McFie Insurance Saving for your grandchildren can help them with costs they’ll face when they grow up. This could be for college, their first house, …

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KEY POINTS Understanding Exit Strategies: A business exit strategy is a plan outlining how you’ll leave your business. Diverse Exit Options: Options include keeping the business within the family, merging with another company, selling the business outright or becoming part of an “acquihire.” Key Exit Strategy Questions: Consider your long-term involvement and financial goals to …

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TABLE OF CONTENTS: Liquidity in life insurance Can life insurance be categorized as a liquid asset? Life insurance varieties that provide liquidity Integrating liquidity into a term life insurance contract Is a liquid life insurance policy a good choice? Frequently Asked Questions KEY POINTS Liquidity in Life Insurance: Liquidity denotes how easily cash can be …

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KEY POINTS Operating a small business offers numerous tax-saving opportunities. Small business owners have the advantage of deducting a wider range of expenses than salaried employees. Those who are self-employed can often allocate and deduct costs used for both personal and business purposes. Operating a small business often means juggling various responsibilities, with tax optimization …

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412(e)(3) plans are fully insured retirement plans. This type of plan is not dependent on market performance, it is based on the guarantees of whole life insurance and annuities. Not only does this take the guesswork and market dangers out of retirement planning, it can also save you a lot on taxes today. But 412(e)(3) …

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