The Pastor and Their Pension

...And it doesn't look so hot!...

Recently I sat down to reflect on my retirement funding and pension plan funding.  This is always a healthy thing to do for any professional.  It just so happens, that for all of my adult life I've been a youth pastor, pastor, and involved in Christian publishing.  I've been blessed to be a part of a wonderful denomination (The Church of the Nazarene) which has afforded me so much. I've been blessed to serve in a variety of roles within the denomination and look forward to doing so in the future.

When the Infinite Banking Concept entered into my life in February of 2008. I had no idea how huge this way of living would be for me.  As I examined the IBC teaching of Nelson Nash I soon applied "my money where my mouth was" in November 2008, and have enjoyed being an IBC participant and now an IBC Agent/Practitioner since then.

One of the things IBC has done for me is to give me a real sense of financial peace in regards to my retirement.  Honestly, my pension plan was not looking so great for a variety of reasons, and I was concerned about having enough to live on in my "golden years."  Looking back now, just five years from when I started IBC, I now have more cash inside my plan than I had available to me in my pension plan, an ever rising cash build up (growing tax free), and he knowledge of knowing that when I do desire passive income in my later years, I can get to it penalty (tax) free when I so choose and not when the government tells me I can have it.

If I could say anything to Nazarene pastors or other denominational pastors that might be taking a good hard look at retirement years and their income stream - I would say that you should at least consider Infinite Banking as an option for increased wealth and cash build up in a sound financial environment and don't discount doing something different and opposite of what the world says you SHOULD do with your money.  IBC has changed my outlook on cash flow in the present and for in the future.  It can for you as well pastor.

Commenting on the Next Big Threat

...Student Loan Debt...

Bloomberg Business Week (BBW), January 20-26, 2014, page 10, nearly headliner article provides a painful assessment of what they (BBW) perceive as the next big threat to the U.S. economy - student loan debt.  The most intriguing part of the article highlights the numerous quotes and references to The Fed and in particular to the New York Fed and its president, William Dudley.  I say it's intriguing, because nearly the entire article is aimed at why the NY Fed and Fed in general, think that the rise in school loan default debt (90 day delinquencies up 11.8% in 2013 3rd quarter report) is so bad, but also how they are addressing "the fix."

If the BBW assessment is true that student loan default is the next home mortgage crisis, and all indications seem to point to this truth, then wouldn't it be prudent to talk just momentarily about preventative solutions for incurring such debt AND solutions for cleaning up such personal debt in loans by speaking to personal action rather than Fed judgments? 

First, to be fair to the article the chief economist of Wells Fargo, John Silvia, did assess that should loans be taken on by families and individuals it would be most helpful that people study what is most in line with their interests and maximum earning potential.  Well, how about that?  Great insight.  So, let's move on to a deeper solution.

Perhaps, parents and especially grandparents could begin a way of paying for school in the early stages of their child/grand child's life.  How? Via the Infinite Banking Concept and how Nelson Nash suggests in his book on page 83 of the Fifth Edition.  OR heavy school loans can be handled on the back end by, again, placing funds earned in an IBC plan thus paying off incurred debt.  This could be explored further by contacting me for a copy of Nelson's book.  In either case I want to make this clear point - leaving solutions in the hands of the Fed or anyone else, but you, and hoping for a magic bullet fix is not really how this great nation was founded.  It was founded not on government dependency, but on the ethic that families and individuals take on their own responsibility for their own actions.  Infinite Banking allows you and your family to do just that, and do it with enormous effectiveness.

My Senior Portal Connection

If you have landed on this blog page from the 'My Senior Portal' website I want to welcome you to this blog and to the discovery of what it means to perhaps rethink or learn for the first time, an age old financial tool that is setting many American households free.  This blog is an exploration in the notion that perhaps what we were always taught about money and finance might not be the "end all" to helping improve our present and future financial picture.

Can an "old dog learn new tricks?"  This is a key question many in the 55+ age group ask themselves when presented with a variety of options in life. My belief is that your generation has probably faced the biggest and most sweeping of changes in society of any generation that's walked the planet. You have had to adapt so much that new information and fresh ways of thinking on a topic are really just another adventure.  My belief is that yours is a generation open to questions about "what we thought we knew" and exploring the ideas of "what we could know."

So, again, welcome to my blog and the exploration of how Infinite Banking could radically change your financial picture, and the financial picture for generations of your family members to follow.  to contact me with questions about Infinite Banking view my information here.

How to Possibly Rethink Retirement Income

There are only two sources of income - people at work and money at work.  We wake up, we leave our homes (most of us) and we call this 'going to work.'  Now days lots and lots of married people NEED both people working to simply make ends meet.  I know that we're being told things are getting better, but hey, let's get real here.  So, back to my original statement.  We earn income by either working or money at work.  Could it be that far too many homes have no money at work for them?  If they were/are a family like ours, the answer lies somewhere between yes and no.  Money was in motion but not in going to work for us in the present and especially not for retirement.

This is a real situation - this saving for retirement thing.  In fact one recent article sites that more Canadians are saving for retirement over trying to eliminate current debt load.  Many younger Baby Boomers are really starting to make the shift that "hey, if I want to retire decently, I need to start catching up now, and start doing so fast."  Now let's consider that in retirement income is derived in the same two ways as was mentioned in the opening sentence.  So, what if you knew in retirement that "passive income" or "retirement dollars" could be received in full by everything you've paid into your retirement plan - tax free - would there really be any objection to that?  Of course not.  And yet, people keep pumping money into tax-qualified plans.  Why? because that's always what we've been taught.  So, how can you receive dollars as passive income during retirement years and get started on this today...call me or email me and we can discuss it.  Maybe it's time to rethink retirement income?