Beat the Banks

Connect with Kyle Fuller

https://factumfinancial.ac-page.com/book-appointment

Connect with David Zapata

https://www.linkedin.com/in/bydavidazapata/

The Problem with David Zapata

In this episode, we discuss the problem with traditional banking tools and how whole life insurance can be a better alternative. We explore the benefits of using whole life insurance as a savings environment and primary banking tool, and how it can help you build wealth over time. We provide an example of financing vehicles through a whole life policy and show how it can lead to significant financial gains. Join us as we dive into the world of private banking and discover a new way to manage your money.

Highlights

Question about what Mr. Nash means by this 'problem'.

Explaining Mr. Nash's 'problem' about having only two financial options – credit or cash.

Discussing the 'problem' and exploring further the options of using credit or cash.

The two different methods of financing.

Long-term impact of using cash as a form of financing.

The concept of an 'interest cost'.

The idea of becoming your own banker.

Truth concepts calculator and explaining how it works.

Policy funds and policy loans.

The importance of shifting focus to more expansive assets like real estate.

The notion of becoming your own loan officer and how it changes the perspective of real estate investors.

Episode Resources

Connect with Kyle Fuller

https://factumfinancial.ac-page.com/book-appointment

Connect with David Zapata

https://www.linkedin.com/in/bydavidazapata/

Key Components of Wealth Building with David Zapata

Kyle Fuller and David Zapata emphasize the importance of establishing a strong financial foundation before moving onto investments. They introduce a wealth-building framework that includes financial education, awareness, and a custom saving strategy. The ultimate goal, they mention, revolves around achieving freedom in five aspects of life: spiritual, personal, family, financial, and professional. They promote an abundant mindset, stress the need for engagement with one's own money and advocate for thoughtful decision-making in personal finance.

Highlights

01:41 Building a solid foundation in wealth before moving into investment strategies

03:46 The importance of financial awareness and how it contributes to wealth building

06:04 Having savings or capital as a foundation to wealth

09:08 Setting up a living trust, will and asset protection as components of the wealth building foundation

13:29 Learning from past mistakes and how having a strategic framework can prevent future loss

17:26 The importance of raising each other towards success and fostering an abundant mindset

Episode Resources

Connect with Kyle Fuller

https://factumfinancial.ac-page.com/book-appointment

Connect with David Zapata

https://www.linkedin.com/in/bydavidazapata/

Beat The Banks Book Review: Part 1 with Wade Borth

Kyle Fuller and Wade Borth discuss the philosophy of "Becoming Your Own Banker" by Nelson Nash, emphasizing the importance of personal banking as a transformative and patient process which involves changing mindset and habits around money. They recommend using whole life insurance policies as a secure foundation for personal banking, but note that insurance is a tool and not the whole solution; the mindset shift is critical. They highlight the importance of repaying any loans taken from these policies and treating personal banking like a business, with a focus on continuous growth and learning. They underline that everyone, not just the wealthy, can and should harness this concept, starting with as little as 10% of income. The hosts stress upon the significance of liquidity or accessible cash in wealth building, and drive the point home that success comes from how individuals control their money.

Highlights

03:36 The book's primary intention as a roadmap to becoming your own banker and not as a sales tool for insurance professionals is discussed.

04:08 The term 'becoming' signifying a transformation to becoming your own banker and the need for a roadmap in this journey is discussed.

09:02 A compare and contrast discussion about the mindset transition from being an employee to a business owner and then becoming your own banker.

14:27 The shift in paradigm to create an environment that captures more income as it flows through life forms the concluding discussion.

17:50 Identifying the Problem

20:57 Developing Personal Understanding

23:48 Infinite Applications: They discuss how the utilization of one's private banking system is infinite and it ultimately depends on the individual's imagination and vision for their life.

28:26 Reinforcing Business Profits

32:54 Changing Spending Habits

34:01 Annual Spending Patterns

35:13 The Mortgage Trap

41:43 Access to Large Pool of Money

44:11 Importance of Commitment

Episode Resources

Connect with Kyle Fuller

https://factumfinancial.ac-page.com/book-appointment

Connect with Wade Borth

https://www.linkedin.com/in/wade-borth-43121542

Beat The Banks Book Review: Part 2 with Wade Borth

Kyle Fuller and Wade Borth discuss Nelson Nash's idea of self-financing through insurance policies as well as the concepts in his book, Becoming Your Own Banker. They explore human attitudes towards money, emphasizing that understanding these behaviors is as important as understanding numerical financial data. They highlight the challenges of inadequate savings and increasing expenses, and stress the importance of disciplined financial planning.

Highlights

00:54 The problem of not saving enough and how it ties into the traditional banking system

04:44 Saving rate and how to increase it from average using the book's concepts

07:35 Understanding Parkinson’s Law

15:26 Why government's control on money and rules of savings programs is disturbing and infringes on personal responsibilities

23:58 The importance of a strong foundation for building a financial future, with emphasis on whole life insurance as a tool

36:14 Educating people to empower them to think for themselves in financial matters

42:18 Importance of understanding the qualities and benefits of whole life insurance reiterated

Episode Resources

Connect with Kyle Fuller

https://factumfinancial.ac-page.com/book-appointment

Connect with Wade Borth

https://www.linkedin.com/in/wade-borth-43121542

https://podcasts.apple.com/us/podcast/a-shared-vision-of-life-insurance-with-kyle-fuller/id1515358066?i=1000628633215

Beat The Banks Book Review: Part 3 with Wade Borth

Kyle and Wade round off their discussion on 'Infinite Banking', encouraging a disciplined, long-term approach to this strategy. They advise individuals to keep their wealth in a secure environment like whole life insurance, pointing out that the need for finance during one's lifetime is more significant than the need for life insurance protection. They discourage the practice of transferring wealth to commercial banks and recommend shifting savings to whole life insurance prior to using it for other investments. Kyle and Wade stress the importance of educating future generations about these principles to ensure effective financial stewardship and endorse the idea of introducing family members to the concept of infinite banking to allow them to also attain financial freedom and control.

Highlights

00:45 The importance of starting affordably and comfortably, and building a saving strategy

02:23 Diverse ways to maintain banking function in one's life and comparison with using life insurance policies for the purpose

04:24 How the system of building one's own banking function works

07:14 Understanding that individual banking strategies should and will differ

09:25 The importance of personalized strategy in infinite banking

14:10 The emotional and financial distress triggered by an unexpected revocation of a line of credit

16:11 Communicating the peace and tranquility that comes with financial control

20:59 The impact of Nelson's teachings on the future of individual financial growth

31:42 The importance of joining a wealth club to learn from others implementing the same financial strategies

35:43 The cost of acquiring a business and how efficiently utilizing a properly structured whole life insurance can mitigate those costs

41:44 The misconception of 401k as a profitable investment

45:04 How prioritizing the need for financing through life insurance cash values can lead to surplus life insurance during retirement.

Episode Resources

Connect with Kyle Fuller

https://factumfinancial.ac-page.com/book-appointment

Connect with Wade Borth

https://www.linkedin.com/in/wade-borth-43121542

https://podcasts.apple.com/us/podcast/a-shared-vision-of-life-insurance-with-kyle-fuller/id1515358066?i=1000628633215

Why You Should Be The Banker if Your Life with Tarisa Shelton

Kyle Fuller and Tarissa Shelton explore the concept of infinite banking. Instead of relying on traditional banks, they discuss becoming one's own banker, giving more control and certainty over finances with the added advantages of constant compounding, liquidity, and flexible loan provision among others. They relate this to buying cars and emphasize on paying oneself back through life insurance instead of losing money to banks or dealerships. They distinguish between banking and investing, highlighting the importance of understanding these differences. They also delve into the continuous build of the income tax-free death benefit, reinventing the mindset of handling savings, spending, and financing and leaving a tax-free benefit for the family.

Highlights

01:14 - Tarisa is asked about her story and journey into infinite banking.

05:17 - Host Kyle reflects on Tarisa's early entrepreneurial mindset and the limitations she faced with conventional savings environments.

07:28 - The importance of education and awareness in wealth building

16:12 - Conversations about applying infinite banking in their own lives.

20:49 - They explain the process of infinite banking, which involves borrowing against a whole life insurance policy and retaining original dollars, thus forming an uninterrupted growth of wealth.

27:03 - Tarisa presents the idea of infinite banking as creating an everlasting cash supply, which benefits future generations.

35:53 - A contrast between banking and investing is presented, expressing how the concepts are polar opposites.

39:17 - They discuss how controlling the flow of money, owning the banking function, and using it for investments increases the income tax-free death benefit, thereby increasing the legacy to be passed to the next generation.

43:33 - The need for someone to break the perpetual debt cycle in families through a different approach to banking and finances is discussed, emphasizing how this can have a long-lasting impact even after they're gone

Episode Resources

Connect with Kyle Fuller

https://factumfinancial.ac-page.com/book-appointment

Connect with Tarisa Shelton

https://www.linkedin.com/in/tarisa-shelton-69902390?trk=public_post_feed-actor-name

From School Teacher to Financial Freedom in Six Years with Monty Flack

This episode features Monty Flack, an ex-school teacher who became financially independent by investing in real estate. Together with host Kyle Fuller, they critique traditional retirement systems and advocate for financial literacy and generating cash flow over retirement savings. Flack shares his journey from a teacher relying on retirement plans to building a passive income stream in six years through real estate investing, guided by his mentors.

Highlights

01:57 - Monty talks about the change in his financial outlook, the importance of exploring new opportunities and finding a mentor, and his entrance into real estate while still teaching.

04:31 - Monty's explanation of the difference between savings, investing, and speculating, and how this realization changed his financial strategies.

07:31 - Exploring the idea of retiring from the perspective of what you're retiring from, and how that ties into the individual desire to serve and live purposefully in five life areas.

16:05 - Insights on the reality of retirement income, inflation, and the realization of the need to create additional income.

21:16 - Discussion on how the current inflation situation could negatively impact retirement plans that Monty would've been a part of.

31:00 - Thoughts on the importance of options in life, including financial freedom which can help in fostering abundance in all life aspects.

37:27 - Explanation about using whole life insurance with real estate investing to solve the problem of having idle cash in a checking account, where combining both functions can lead to substantial growth.

40:30 - Discusses the constant compounding effect with life insurance policy and its similarity with the aid of wind in running events.

44:59 - Identification of the importance of financial education in money management, emphasizing their mission to empower people to make their own informed financial decisions.

46:20 - Encourages listeners to visit their website for courses on wealth building, family banking, and real estate investing. Also invites them to communicate for assistance in the wealth-building journey.

Episode Resources

Connect with Kyle Fuller

https://factumfinancial.ac-page.com/book-appointment

Connect with Monty Flack

https://www.linkedin.com/in/monty-flack-l-cash-flow-expert-2380ba17

Whole Life Myths with Todd Langford: Part 1

Joining Kyle today and for the next three episodes is Todd Langford, creator of Truth Concepts. Over this mini series, they will address the misconceptions of whole life insurance starting with commission on life insurance policies. Many people think these policies pay out the highest commission which in fact, they have some of the lowest commissions. This is why it is important to pose life insurance as more of a savings avenue versus an investment. Tune in to part two to hear more misconceptions about life insurance.

Highlights

01:25 How most misinformation in the financial industry comes from numbers taken out of context

03:35 The unfair comparison between industries with different payment structures

04:30 Realization that the cumulative fees on a 4% bond with a 1.5% management fee is greater than the commission on a whole life insurance

09:14 Understanding that real value comes from the delivery of services, not just from the price

10:52 What happens when a new company and a new fund manager manages your portfolio

12:37 The hypothetical scenario since insurance gets paid differently compared to equity advisors: Insurance gets paid higher upfront, but equity advisors earn more in the long run

17:06 The comparative analysis between life insurance and other assets, and how life insurance provides certainty

22:05 The need for a balanced perspective when comparing different finance industries and their commission structures

23:32 Consideration of how future market trends might impact financial decisions and the value of life insurance as a stable asset

25:41 The misconception that life insurance is the most lucrative commission-based industry, and the educational resources available for better financial understanding

Episode Resources

Connect with Kyle Fuller

https://factumfinancial.ac-page.com/book-appointment

Connect with Todd Langford

https://truthconcepts.com/

https://www.linkedin.com/in/truthconceptssoftware

Whole Life Myths with Todd Langford: Part 2

In part two of this series with Todd Langford, they tackle the misconception surrounding the interest rates on policies and the rate of return on being your own banker. Despite what people say, your costs have to be less than your investments to make money. Listen in as they share examples to explain this theory and how to make the most of borrowing from your policy.

Highlights

01:14 The common misconceptions with simple interests

04:25 Debunking the myth of earning 4% and loaning at 6%

07:41 The impact of the time value of money and the cost of money in financial transactions

11:40 Only circumstances under which having money at a lower interest rate and having debt at a higher interest rate makes sense

14:02 Busting the myth: Why earning four and borrowing six ultimately doesn’t work

15:39 The idea that borrowing money from the policy is where the "magic" happens

18:08 Differences between certainty assets versus opportunity funds

23:02 The accumulation phase: Having a comprehensive understanding of whole life insurance and financial planning

Episode Resources

Connect with Kyle Fuller

https://factumfinancial.ac-page.com/book-appointment

Connect with Todd Langford

https://truthconcepts.com/

https://www.linkedin.com/in/truthconceptssoftware

Whole Life Myths with Todd Langford: Part 3

In this final episode debunking life insurance misconceptions, Kyle and Todd discuss the rumors that whole life insurance is expensive with a low rate of return. Most of this information comes from unequal comparisons, but the reality is that life insurance can provide one of the highest rates of return over the course of its life. Tune in to hear more about how to maximize your dollars through whole life insurance.

Highlights

00:55 Misconceptions about whole life insurance being expensive and having a low rate of return

02:26 How unequal comparisons play a significant role in misconceptions

04:56 Case of misinformation such as getting only the death benefit and no cash in life insurance

07:04 The concept of rate of return in a life insurance policy explained through a comparison with an alternate investment scenario

11:04 Importance of having term insurance during working years and the higher likelihood of death post-retirement

13:40 How having a mix of equities and bonds in one’s portfolio can yield better returns than a life insurance

16:50 The concept of self-insurance and the advantages of using an insurance company's pool

17:59 Comparing the certainty and protection of a whole life insurance policy to wealth accumulation

19:02 Benefits of partnering with a strong mutual insurance company

20:20 Debunking the common misconceptions about whole life insurance policies

22:00 There are no "deals" in the insurance industry, everything is built based on balance between risk and cost

23:24 The difference in risk and cost between term and whole life insurance

25:46 Assertion made that it’s incorrect to label whole life insurance as “expensive” and term insurance as “cheap”

28:52 Observation that comparing the rate of return from a whole life insurance policy to an investment vehicle is usually taken out of context

30:02 How partnering with life insurance companies can be valuable to the equities market as life insurance can provide a certain asset to counter market fluctuations

32:34 Conclusion that term insurance is not cheap and whole life insurance is not expensive, both are priced perfectly for what they do

Episode Resources

Connect with Kyle Fuller

https://factumfinancial.ac-page.com/book-appointment

Connect with Todd Langford

https://truthconcepts.com/

https://www.linkedin.com/in/truthconceptssoftware