We have seen financial storms come and go. They will happen again. This podcast features Robert Murphy and Carlos Lara.
Bob is an Economist, a Senior Fellow at the Fraser Institute, Senior Fellow with the Mises Institute, Research Fellow at the Independent Institute, and author of the widely acclaimed book, Choice: Cooperation, Enterprise, and Human Action. Carlos is President of United Services and Trust Corporation. Both are associated with the Nelson Nash Institute who oversees the Infinite Banking Concept.
While this is a U.S. source, much is applicable to Canada. Their April 2022 podcast replays a 2016 recorded podcast. This topic is not intended to create fear, or suggest Canada or US are close to an economic collapse. It is to alert you to the fact there are some financial issues at play (inflation), and you need to be educated about them, and so do your children and others you care about.
Bob and Carlos share strategies to prepare if worst case happens, no matter how unlikely. This pandemic we’re going through was very unlikely. Were you prepared? Every financial advisor/financial planner, me included, were not prepared either, and as such, never advised you to be prepared for a pandemic. So let me learn from this and advise you to prepare for something like this.
Bob and Carlos recommend holding cash for 30-days living expenses in case banks close, holding some physical gold or silver, equal to 6 to 18 months living expenses, and holding dividend-paying whole life insurance policies – using its cash value as a storehouse of wealth – as discussed in a strategy called Infinite Banking as I have been sharing over the last year.
Many readers already hold dividend-paying whole life insurance but never considered them in this light. For those who do, this is confirmation you made a great decision. For those who do, this podcast hopefully reveals you should increase the funds you have in this storehouse of wealth. For those who do not have dividend-paying whole life insurance, this podcast will reveal why you should.
The podcast link is here:
When done watching or listening to this podcast, please book a conversation with me in my calendar: https://dofinancial.ca/book-a-conversation/.
For more on IBC: https://infinitebanking.org/podcast/ – Episodes 17 and 18
Carlos Lara and Bob Murphy revisit their September 2016 video presentation in which they lay out a 3-prong strategy to protect your household from economic calamity.
Mentioned in this episode and other links of interest:
Bob and Carlos’ presentation, “How to Weather the Coming Financial Storms.”
Their book with Nelson Nash, The Case for IBC.
Their book, How Privatized Banking Really Works.
The IBC Practitioner Finder.