Over the last three weeks, you have heard actual members of our Wealth Formula Community talk about their financial journeys. A recurrent theme through these interviews was the concept of Wealth Formula Banking. In case you didn't notice, all three of these individual investors are essentially using Wealth Formula Banking as the cornerstone of their investor strategies. You might, therefore, be wondering what exactly Wealth Formula Banking is. Well, it's actually an investing strategy that utilizes permanent life insurance. Now you might be thinking: "My financial advisor told me to buy term and invest the rest". Believe me, I've heard that one a million times. In fact, I used to believe it. But then, during my own financial journey, I noticed that pretty much all of the high net worth individuals that I met were utilizing some kind of permanent life insurance in their own portfolios. If permanent life insurance was not a good strategy, then why were all of these smart people who made a lot more money than most doctors doing it? After some digging, I had the answer. Permanent life insurance, the way it is presented to most people, is not a good strategy at all. However, the devil is in the details. Structured appropriately—-maximizing cash value and minimizing fees, these policies are extraordinarily powerful in amplifying wealth creation. Perhaps the best book on this concept is written by Nelson Nash called Become Your Own Banker. This is an older book but drives home the fundamentals of this wealth-building concept in an easy to understand format. Nash's concept is further optimized for active investors by the Wealth Formula Banking concept. In short, Wealth Formula Banking involves an asset protected, tax efficient vehicle that allows you to invest the same money in two places at the same time. We call that double-dipping. And while it may sound too good to be true, I can tell you from my own personal experience that it's not. That's why, at the very least, you need to learn about it and decide if it's right for you. There is no better way to do that than to hear fellow Wealth Formula community members like you discuss the concept and how they are using it in their own portfolios. So… that's what we are going to do on this week's episode of Wealth Formula Podcast. LISTEN NOW!

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