What a Good Man Does

"A good man leaves an inheritance for his children's children."

Proverbs 13:22a

(A played out situation I wish I'd known 18 years ago)

Let's say you are a new parent.  You and your spouse bring home your first bundle of joy or your first adopted child and you are elated, scared, excited, tired already, dreaming of what this person will become.  Life begins to pick up as life does.  Baby goes from diapers to no diapers.  Baby goes from crawling to walking.  Time is moving quickly all the while you are thinking long range.  You are wise!  You know that as baby becomes child, child becomes preteen, preteen becomes teen, teen becomes young adult that there will be ever increasing expenses to meet the needs and even wishes of this child.

But your wisdom goes beyond the first twenty-five years of raising this person.  You want to set this kid up to succeed, really flourish in every way. And for this it takes money, lots of money.  So, what to do?  You don't have a ton of extra money to throw around or into fluctuating market ups and downs. So, you now think waaaaayyy outside the box.  You call on grandma and grandpa to begin a $2000 life insurance policy on your child and pay this same premium on the child in a dividend paying whole life policy with a mutual life company for the next 22 years.  The policy is initially set up with the grandparents as owners of the policy and to be passed on to the parents upon their death.  At the outset the policy is set up to emphasize cash accumulation and not death benefit.  After 22 years the "base premium" can be paid by dividends from the policy and surplus dividends buy additional paid up insurance moving forward.  The net effect being no additional outlay needed and face amount and cash value only grow ever increasingly.

In this example we have just shown the creation of financial "perpetual motion" beginning with one generation and moving through the cycle of many more to come as the process is repeated over and over again.  In this example, of which I would have employed for my kids, there are numerous advantages....

• It covers multiple generations - promotes long range planning
• Underwriting problems are minimized
• Tax free build up
• Precludes any need for Social Security
• Passive income is assured
• Estate planning is greatly simplified
• Wealth "mentality" passed from generation to generation.

Call me at 816-588-2328 to see how "What a Good Man Does" can begin a generational cycle of financial health for you and those you love.

Overwhelmed by College Costs?

Are you overwhelmed by College Costs?  The Infinite Banking Concept Can Help... Did you know that the Infinite Banking Concept resource can be a powerful tool  in the college planning process? Here's why. Although many scholarships reward merit, most financial aid is based on need.  To receive financial assistance, a family or student must complete the Free  Application for Federal Student Aid (FAFSA). Information on this application is  then analyzed using the federal methodology formula to determine what the  family is expected to contribute toward the student’s education. Money in  stocks, certificates of deposit and bank accounts are factored into this  formula, but your asset in the Infinite Banking System is not because it  is whole life insurance. Therefore, children whose parents have a portion of  their assets in a cash value life insurance policy may have a better chance  of qualifying for more financial aid than children whose parents have the same net worth and income who have not utilized the same planning technique. Just by reallocating your assets in a dividend paying whole life policy with a  mutual life company, you may improve the chances that your child could  become eligible for more scholarships and grants. College Planning and Whole Life Insurance The whole life insurance policy I help you implement can be a useful tool  in the college savings process because it:

•  Is not considered in federal financial aid calculations. •  Produces cash value, which can be accessed through tax-free loans or withdrawal/surrender of the paid-up additional insurance rider, to pay a  portion of college costs. If the policy-owner doesn’t use the cash value for  education funding, it can be used later to supplement retirement, or for  any other purpose.  • Offers a guaranteed death benefit, which can be used to pay college costs  if the insured dies prematurely. With college costs expected to increase at an annual rate of 5 to 10 percent*  for the foreseeable future, the ongoing uncertainty in the economy and  interest rates at record lows, planning for college is a major challenge for  many parents. Contact me at 816-588-2328 for more information on how  The Infinite Banking Concept can actually improve your ability to pay for  college expenses while limiting college loan expenses. *The American College, 2011.                                             For more information send inquiry to: mzimmeribc@gmail.com

Five Year School Loan Blues

Heavy school debt weighing post-undergrads down has been the topic of many financial blogs and news wires for several years.  I even saw on a major news service last week that more and more seniors are carrying debt, even school debt, into their retirement years.  I pastor a small congregation where it's not uncommon for my congregants to carrying large sums of school debt into later earning years.

So, what could we do to begin to REALLY tackle the issue of school loan debt?  I think a post-graduate assessment at five years is in order.  These are years where families, many times are being started, wage earning is beginning to tick up, and careers are being built one day at a time.  Post-university years are exciting days because lifetime formation is taking place.  As I said, many times children enter into our lives and life begins to move very rapidly.  So, we need to slow down and ask, "How will I pay these school loans?"

My wife and I had a bit of outside help paying school loans when we were newly weds and with that we set our goal at being school loan debt free by age thirty.  We achieved that goal.  However, if you're on your own and you are five-years out of the university and not already in a grad program, I would recommend you look into The Infinite Banking Concept as taught be Nelson Nash in his book Becoming Your Own Banker. I teach this material to people and I know that if your goal would be to eliminate school loans that we can come to the table with reasonable expectations of how to implement your own bank in an effort to eliminate school loan debt.  Call me at 816-588-2328 or mzimmeribc@gmail.com.  Let's get this school loan debt knocked out ASAP!

Financing College

From the Driver's Seat...

In less than one year my wife and I will begin to finance our daughter's college education largely (if not in total) through the wonderful resource of infinite banking. Back in 2008 I, like you, were awakened to some pretty harsh financial realities in the public marketplace, but also in my own personal financial situation.  I knew that in five to six years I NEEDED a better option to be able to finance my child's future education than "a wing and a prayer" and FannieMae.  Ugghhh, that was such a hard thought to ponder.

At the time I also had many other things spinning like high unsecured debt, pitiful pension, and minimal death benefits in case I passed on.  In short, my family was in high debt, little retirement funding, and unprotected in case of my demise!  NOT good. In addition, I had no way to pay for college.  Up a creek without a paddle.

I won't address how Infinite Banking helps with the first three issues,  but I will say today that 2008 was the (sounds odd) perfect time to begin a dividend paying whole life insurance policy that was set up for us to quickly begin utilizing for the banking benefits.  November 2013 marks our 5th year as Infinite Banking practitioners and I'm super excited to say we're debt free (except mortgage), I have an ever increasing passive income pool for "retirement" (that I can tap tax free), I have an ever increasing death benefit to leave a super awesome legacy, and I have placed my money in a system that is 100% liquid with no taxation on growth and can use it anytime I need it for any reason I desire - INCLUDING financing my kids college.

I'm not an official financial adviser, I'm a guy who lives and teaches Infinite Banking, but I would say that being in the financial driver's seat right now in regards to financing college in the years ahead feels so much better than keeping my money stashed away in some government qualified plan hoping it will grow and for the most part unable to access its use without penalties. So, what to do?  Well, if you have a seventh or eighth grader and you're thinking college and how to finance - you might consider Infinite Banking.  It's meant more to me than what I thought I knew. Call me if you'd like to explore how you can set up your own Infinite Banking system.