22 Jan 2019

Bob on Tom Woods Show Talking IBC

Infinite Banking Concept 2 Comments

Here ya go.

2 Responses to “Bob on Tom Woods Show Talking IBC”

  1. Matt M says:

    Thanks for this episode.

    My skepticism is similar to Tom’s initial objection, which was basically “What good is this for someone who already has money?”

    I feel like you answered it mainly by saying “You have more control over your money in IBC than you would if your assets were locked up in an IRA or something like that,” which is certainly true.

    So, more specifically, my question is what good is this for someone who already has money that they already control directly? Control is very important to me, so I’ve always errored on the side of NOT maximizing my 401K (despite the tax advantages) and just plowing a lot of my savings into after-tax savings accounts, stocks, bonds, gold, whatever. If I wanted to buy a car, I could already “borrow from myself” by taking the money out of my savings/investment accounts, and could pay myself back under whatever terms I want to (or not, if I don’t want to).

    In a situation like that, why should I bother with IBC?

  2. Bubba Shaffer says:

    I listened to the show with Tom Woods. I remained unconvinced that purchasing Whole Life is a good idea. the ROI is low relative to other investments. I carried Term insurance when I did not have cash balances that would take care of my daughters when they were young. Now that they are not dependent on me (financially) any longer why keep paying for any insurance. I don’t see the coloration in having Whole life and being financially independent. You can be your own bank by being wealthy. Spend less than you make and invest wisely. Don’t act like the government and spend yourself into debt. The late Tom Stanley has a book called the Millionaire next door, read and study this and you can be one too.

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