• David Stearns: Infinite Banking: A Lifestyle, Not Just a Strategy

  • Dec 18 2024
  • Length: 41 mins
  • Podcast

David Stearns: Infinite Banking: A Lifestyle, Not Just a Strategy

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  • About David Stearns:David Stearns joined Nelson in June 2004 after retiring from the U.S. Army as a Lieutenant Colonel. David served 27 years in the Army, first as a field artillery officer, then as an Army aviator. As with all military officers, he had a variety of assignments including operations, safety, and systems analysis/operations research. David served throughout the Continental U.S. and world-wide with a long tour in Egypt and multiple deployments to Germany, Korea, and Kuwait.David is the President of Infinite Banking Concepts LLC which controls the distribution of Becoming Your Own Banker and Infinite Banking Concept materials, copyrights and trademarks. IBC LLC manages the administrative activities of the Nelson Nash Institute.David graduated from Buffalo State College in 1975, and received a Masters of Public Administration from Auburn University, Montgomery in 1992.He has been married to Kimberly Stearns since 1979. They live in Birmingham, Alabama and have four children and four grandchildren.In this episode, your hosts, Jason and Scott, together with David Stearns discuss:Infinite Banking Concept (IBC) as a lifestyleImportance of understanding cash flow and economic problemsGenerational wealth transfer through family bankingBehavior and responsibility in IBC implementationChallenges in the insurance industry and misconceptionsKey Takeaways:The Infinite Banking Concept is more than just a financial strategy - it's a lifestyle that provides freedom and control over one's finances. Insuring family members, starting with the primary breadwinner and then expanding to include grandchildren, allows for the compounding and transfer of wealth across multiple generations. Successful implementation of the IBC hinges on personal responsibility and behavior. Misconceptions and industry practices, such as the rise of government-backed qualified plans and the demutualization of insurance companies, have contributed to the lack of public awareness about the IBC.Seeking guidance from authorized Nelson Nash Institute practitioners is essential for those interested in properly implementing the IBC, and their experts can provide the necessary education, training, and support to ensure individuals navigate the complexities of the IBC and achieve their financial goals."IBC, the infinite concept is a lifestyle, is a plan. It's a yellow brick road that you can follow, where you can be free of banks, and third-party lenders. You don't have to rely upon qualified plans to retire” — David StearnsConnect with David Stearns: LinkedIn: https://www.linkedin.com/in/david-stearns-000559/ Website: https://infinitebanking.org/?l=0 Connect with Jason and Scott:Website: https://henderxcapital.com/masteryourmillionsX (Twitter): @MasterYourMs https://twitter.com/MasterYourMs Facebook: https://www.facebook.com/groups/realestateinvestorsofutah Instagram: @henderxcapital https://www.instagram.com/henderxcapital/ @jasonihenderson https://www.instagram.com/jason.henderson/ Email: jasonchem@gmail.com, scott@henderxcapital.com
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