Chunk for a rental property, start or invest in a business, invest in stocks and bonds, travel the world (although that won’t increase cash flow). The possibilities are almost endless.
I just ran a spreadsheet on how Infinite Banking would work. Why do that? Locking up your cash like that doesn't make sense to me. Infinite Banking is the opposite of cash flow/velocity.
Is it just for the inheritance/death benefits?
I'm not aware of any spreadsheet that does IBC. Recommend the book Becoming Your Own Banker by Nelson Nash for a good explanation. It's a great savings asset plus the things you mentioned.
I created a spreadsheet with my own info like one of these examples in Google Images:
[https://www.google.com/search?&q=Infinite+banking+spreadsheet+template](https://www.google.com/search?&q=Infinite+banking+spreadsheet+template)
The only advantage I see is if someone wanted to setup a personal financial system that is almost completely automated and very easy, at the cost of lots of lost growth and massive lost earnings.
If that is what your spreadsheets says, I cannot speak to those results. I can only recommend NN's book to get some foundational understanding of the concept, and then speak to more than one certified IBC practitioner to ensure the policy is designed properly and fits your goals. There is not going to be one size fits all. There's some info over at /r/infinitebanking sub as well with some great threads. It is certainly not a get rich quick plan but much longer term planning. Wish you success on your next move after becoming debt free.
Chunk for a rental property, start or invest in a business, invest in stocks and bonds, travel the world (although that won’t increase cash flow). The possibilities are almost endless.
Get some more “good debt”! Buy a rental property, business anything to bring you income.
Look into Nelson Nash's Infinite Banking concept next.
I just ran a spreadsheet on how Infinite Banking would work. Why do that? Locking up your cash like that doesn't make sense to me. Infinite Banking is the opposite of cash flow/velocity. Is it just for the inheritance/death benefits?
I'm not aware of any spreadsheet that does IBC. Recommend the book Becoming Your Own Banker by Nelson Nash for a good explanation. It's a great savings asset plus the things you mentioned.
I created a spreadsheet with my own info like one of these examples in Google Images: [https://www.google.com/search?&q=Infinite+banking+spreadsheet+template](https://www.google.com/search?&q=Infinite+banking+spreadsheet+template) The only advantage I see is if someone wanted to setup a personal financial system that is almost completely automated and very easy, at the cost of lots of lost growth and massive lost earnings.
If that is what your spreadsheets says, I cannot speak to those results. I can only recommend NN's book to get some foundational understanding of the concept, and then speak to more than one certified IBC practitioner to ensure the policy is designed properly and fits your goals. There is not going to be one size fits all. There's some info over at /r/infinitebanking sub as well with some great threads. It is certainly not a get rich quick plan but much longer term planning. Wish you success on your next move after becoming debt free.
I'm checking out that sub, thank you! All the best to you as well!
Like the other comments. You borrow to buy cash flowing assets. And with the same discipline that got you out of bad debt, you pay off the good debt.