A good attempt to cover the topic of Infinite Banking® in a November 21, 2023, Moneysense.ca article by Jonathan Chevreau. I quite enjoy Jonathan’s opinions, however, this one missed the mark.
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Police officers leave the headquarters of Silicon Valley Bank in Santa Clara, Calif., on March 10, 2023. U.S. authorities swooped in and seized the assets of the bank after a run on deposits this week. (Noah Berger/AFP/Getty Images)
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#1 mistake people make in financial planning is not being their own banker.
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Let’s assume when you deposit money at the bank you earn 1%. When you deposit your money at the bank you allow them to loan it out at say 4%.…