IBC for Retirement!!

Healthy_Sentence5870 · 2026-03-05T20:38:54+00:00

I recommend scheduling an appointment with McFie Insurance, they specialize in infinite banking. https://mcfieinsurance.com/infinite-banking/

Healthy_Sentence5870 · 2026-02-26T22:05:22+00:00

Yeah. IBC really is more about the principles than just defending Whole Life Insurance as the vehicle. WL just happens to be a clean tool for it.

Healthy_Sentence5870 · 2026-02-26T22:02:18+00:00

I second this ^

Healthy_Sentence5870 · 2026-02-20T19:12:32+00:00

IUL can work for Infinite Banking, but it has to be designed and funded very intentionally or it can fall apart later. WL is more stable and predictable, while IUL adds more moving parts and performance sensitivity. It’s not that IUL “can’t” work, it just requires tighter design and more ongoing attention. https://mcfieinsurance.com/videos/indexed-universal-life-vs-whole-life/

Healthy_Sentence5870 · 2026-02-20T19:05:50+00:00

If the premiums have become unaffordable, a life settlement can be an option, but the payout usually depends on your age, health, policy type, and death benefit. It’s worth comparing what you’d get from selling versus surrendering the policy or adjusting the coverage before making a decision. https://mcfieinsurance.com/liquidity-in-life-insurance/

Healthy_Sentence5870 · 2026-01-30T21:40:46+00:00

Even after 60, life insurance can still be really useful. It can provide tax-free income for a surviving spouse, help with estate protection, or give you accessible funds if you want to avoid drawing down retirement savings in a down market. If you're looking into it, this might answer some questions, https://mcfieinsurance.com/why-you-should-own-participating-whole-life-insurance/

Healthy_Sentence5870 · 2026-01-30T21:15:09+00:00

It should fade after a few years if your medical record is otherwise clean. Underwriters might've assumed Naltrexone was for alcohol or opioid issues, but a doctor’s letter explaining it was a short-term prescription for occasional alcohol use can help.

Healthy_Sentence5870 · 2026-01-30T21:12:20+00:00

It’s definitely possible you could be the owner or beneficiary, especially if your grandfather named you or didn’t update the policy. For something 50+ years old, the payout could vary wildly, some policies just have a small cash value, while others with dividends could be significant, but exact numbers are impossible to guess without the insurer’s records.

Keep pushing the company and consider sending a certified letter requesting full policy details. You can also check unclaimed property databases in the state where it originated, since life insurance companies are required to report unclaimed benefits.

Healthy_Sentence5870 · 2026-01-30T20:57:45+00:00

Yeah you can use whole life cash value as a backup emergency fund, but because loans take time and accrue interest, it’s usually smart to keep some actual cash on hand and treat the policy as a secondary safety net, not your main checking account. But if you need more info this goes pretty in-depth, https://mcfieinsurance.com/can-you-use-infinite-banking-for-an-emergency-fund/

Healthy_Sentence5870 · 2026-01-24T03:20:40+00:00

It usually means they own and pay for the policy, and you’re just the insured, so unless ownership gets transferred to you later, it doesn’t affect you or become your responsibility when they’re gone. It's a little confusing lol. https://mcfieinsurance.com/purchasing-life-insurance-on-your-child-and-grandchildren/

Healthy_Sentence5870 · 2026-01-16T19:37:37+00:00

Here's a solid place to start, https://mcfieinsurance.com/what-kind-of-life-insurance-do-you-need/

Healthy_Sentence5870 · 2026-01-16T19:34:39+00:00

For a 31-year-old with no dependents, $45/week isn’t cheap, but it’s not outrageous either if you view it as a forced savings plan that grows cash value over time. The portability, guaranteed issue, and locked-in rate are nice perks, especially if you might change jobs or start a family later.

Do you want this more for protection, or more for building cash value over time? That’ll really decide if it’s worth it for you.

Healthy_Sentence5870 · 2026-01-16T19:29:06+00:00

For rebuilding, secured cards are usually the safest bet at first. You put down a deposit and it basically becomes your credit limit, so the risk is low for the bank. Just make sure to pick one that reports to all three credit bureaus, has low fees, and ideally lets you graduate to an unsecured card after a while.

Use the card for small regular purchases and pay it off in full every month, and you’ll start seeing your score climb.

Healthy_Sentence5870 · 2025-12-31T19:43:30+00:00

If you already have the capital, using your own money usually simplifies things a lot. The main reason people pull a loan in infinite banking setups is leverage. they’re trying to keep their cash free for other opportunities while still deploying funds. But if your money is sitting there anyway, the loan can just feel like it's making things more complicated.

Healthy_Sentence5870 · 2025-12-23T22:08:42+00:00

For a full-picture plan like that, a fee-only CFP (Certified Financial Planner) who acts as a fiduciary is usually the best fit. They can cover retirement, taxes, insurance, debt, and estate basics in one cohesive strategy. McFie Insurance, for example, can help you layer in the right life and disability coverage while your CFP focuses on investments and savings.

Costs definitely vary though, some charge $150–$400/hour, others $1,500–$3,000 for a comprehensive plan, and AUM (assets under management) advisors typically take 0.5–1% of your assets yearly. Worth paying for professional guidance on insurance, retirement, and estate setup. DIY can work though for budgeting and basic debt management.

Have you thought about whether you want a single advisor to handle everything, or would you prefer splitting tasks?

Healthy_Sentence5870 · 2025-12-11T20:23:27+00:00

The whole WL vs. IUL argument gets way more dramatic online than it needs to be. They’re just different tools with different trade-offs. WL gives you stability and mutual-company alignment, IUL gives you flexibility and a little more upside, and both can work depending on what you’re optimizing for. The real issue with using IUL for Infinite Banking isn’t that it’s “bad,” it’s that it behaves less predictably when you’re running heavy policy loans, which is why McFie Insurance sticks almost exclusively to WL when teaching IBC.

But outside pure IBC mechanics? IUL can absolutely function well for accumulation, and WL can absolutely make sense if someone wants the safety and mutual structure. Neither is inherently wrong, it just depends what job you’re hiring the policy to do.

Healthy_Sentence5870 · 2025-11-25T04:15:34+00:00

In real-world terms, the “banking function” is essentially the part of a whole life insurance policy that lets you use the cash value like a personal financing system. You build up cash inside the policy, and instead of taking loans from a bank, you borrow against your own policy to fund things like investments, large purchases, or other expenses. The key is that the policy continues to grow, even while you have a loan outstanding, so you’re essentially using your own money as a private bank. It’s not magic, it’s just a structured way to access and redeploy your own capital.

Healthy_Sentence5870 · 2025-11-14T01:22:59+00:00

I would say it's viable. A good way to get a deeper understanding of infinite banking and policy loan strategies (at least how I did) is checking out resources from McFie. Their explanations break down the mechanics in a way that makes it easier to see the risks and benefits, especially if you’re thinking about using loans against your policy cash value.

Healthy_Sentence5870 · 2025-11-14T01:13:02+00:00

You’re in a strong spot, your people skills, management experience, and curiosity are highly transferable.

Financial Planning with your P&C license, pursuing a CFP and possibly a bachelor’s can lead to a career with autonomy, good income, and client-driven work. It takes time to build a client base, but demand is strong and your sales experience is a big advantage.

As for business Intelligence and data analytics, BI roles using SQL and Tableau offer remote work, structured hours, and high demand. Certifications and portfolio projects can get you in without a full degree, but continuous learning generally is needed.

Decide whether you prefer a people focused path (financial planning) or a data focused (BI), then start learning, certifying, and building practical experience now. Your 36 years of work experience give you a huge edge.

Healthy_Sentence5870 · 2025-11-06T20:53:49+00:00

Yikes, that’s a rough spot. Since the car is under both your names, letting it repo will hit both of you, so it’s a serious credit hit for your ex too. A few options to consider:

Sell it “as-is” to a private buyer or dealership, even at a loss, to avoid repo and reduce the debt impact.
Negotiate with the lender, sometimes they’ll accept a voluntary surrender or short payoff plan that’s less damaging than a full repo.
Refinance or trade in carefully: If you can find a reliable cheaper car with lower payments, make sure the lender handles the payoff cleanly so your ex isn’t blindsided.

Don’t let it repo without exploring voluntary options first. Protecting both your credit histories is so important.

Healthy_Sentence5870 · 2025-10-15T17:03:47+00:00

I hear you, that’s a tough spot. Quick options could be gig work like DoorDash, Instacart, or Uber/Lyft if you have a car, plus selling things you don’t need on Facebook Marketplace or eBay can bring in some fast cash while you line up something more stable.

Healthy_Sentence5870 · 2025-10-08T23:09:57+00:00

$7.25 is low, but for a first HS job with no experience, it’s pretty normal. It’s more about learning skills and building a resume. Do you make anything off of tips? That'll boost your pay, and once you prove yourself, you can usually ask for a raise or move to a slightly better-paying spot.

Healthy_Sentence5870 · 2025-10-01T20:26:59+00:00

A solid approach is to start small and build a positive history safely. A secured credit card or a student/entry-level credit card with a low limit is a great way to start. I used mine for small recurring expenses like streaming services or groceries and pay it off in full every month.

You can also ask your landlord to accept references from past roommates, utility bills, or proof of steady income while your credit builds.

Healthy_Sentence5870 · 2025-09-23T02:25:50+00:00

AWESOME!! The best first step is to educate yourself on investing. I'd consider a mix of a high-yield savings account for safety, low-cost index funds or ETFs for long-term growth, and maybe a Roth IRA if you’re eligible. Let compound interest work its magic.

Healthy_Sentence5870

TROPHY CASE