The Infinite Banking Concept (IBC) isn’t just for the 1 percent crowd, or folks with near-infinite financial resources. We like to call Infinite Banking “the millionaire strategy for thousand-aires” – because the same strategy that works for clients with deep pockets also works in exactly the same way for people in Canada’s middle class – a demographic for which the vast majority of Canadians identify.
Many Canadians put $500 per month into their savings plans without really knowing where it goes. If you can put away as little as $500 a month, you might just be a great fit for the financial strategy that lets you be your own banker. If you’ve got a typical household income of $80,000 and up, we can work with you. It’s not how much you earn – it’s how much you can save.
The person who’s a good fit for the Infinite Banking Concept has a ‘millionaire mindset’: they believe in success – not just as an abstract concept, but as something they will achieve for themselves and their family.
It sounds easy; but in our experience, we find that many people just don’t have it. They don’t believe that success is for them. That’s tragic – but fortunately, it’s not necessarily permanent. It is possible to cultivate a millionaire mindset. Old habits die hard, but they do die if you’re persistent.
Have You Got the Success Mindset?
The millionaire mindset involves thinking and planning for the long term. You recognize that success doesn’t happen overnight. You get there a little bit at a time. It’s about seizing opportunities at the right time – and making sure you have the resources you need when opportunity strikes. Potentially, it’s also about thinking beyond your own life and creating success that carries on to the next generation.
Indeed, the founder of the Infinite Banking Concept has been quite open that IBC didn’t make him rich – at least, not the first time; he got his stake early on from working in the forestry sector and making well-timed development deals. The catch is that thanks to the IBC, when he needed capital to jump on those opportunities, he had it. He didn’t have to go to a bank and plead his case through massive documentation and onerous terms – he lent the money to himself from his whole life insurance plan at terms that he wrote himself – and he was able to strike while the iron was hot, multiple times. The IBC makes success possible by giving you guaranteed access to money at the right time to take advantage of opportunities when they present themselves.
Contact Us
At Safe Pacific Financial, we specialize in helping Canadian business owners, incorporated professionals, and investors structure life insurance for maximum wealth protection, tax savings, and business growth.
If you would like to discuss whole life insurance or investments, we’re happy to chat and see if we can be a good fit to work with you. Fill out our contact form and we will get back to you within 24 hours on business days.
Related Insights
Episode 5 of the Infinite Banking Concept Series - Leaving a Legacy
Welcome to the fifth and final blog in our comprehensive series about the Infinite Banking Concept in Canada. Throughout these four previous blogs we’ve talked about...
Episode 3 of the Infinite Banking Concept Series - How Policy Loans work and what is the Adjusted Cost Basis?
Let’s look at a Whole Life Insurance Policy Illustration that's correctly set up for the Infinite Banking Concept. In this illustration with a Canadian life...
What is the Immediate Financing Arrangement?
Who is this for? We tell everyone that they shouldn’t set this up unless they want and need life insurance. If you have someone you...
Infinite Banking is a scam!
Is Infinite Banking as good as everyone says it is or are they scamming you? We’ll answer that today.
Should you invest using DCA or a lump sum?
So, what investment strategy is going to you the most money, dollar cost-averaging or a lump sum investment? I can’t see the future but based...
The Ten Commandments of Whole Life Insurance in Canada
There’s this great article titled “the ten commandments of whole life insurance” and it is linked if you want to read along. One thing that’s...
The Waterfall Concept using Life Insurance (in Canada)
The “Rockefeller” Method, or the Waterfall Concept. One of the main things we have to preface this with is that in the United States, this...
How can a Canadian business owner use life insurance to fund major purchases?
Today, allow us to shine a light on the infinite banking concept through the lens of a case study —showcases how an entrepreneur, used this...
You can now invest with us!
We have got a big update for you today – a brand new offering from us at Safe Pacific.
The Infinite Banking Concept Episode 4 – Infinite Banking is a Scam
In today's blog, we'll go over the main reasons given for why the Infinite Banking Concept is a scam. We'll be going over why people...
The Wealth Multiplier Podcast - Wealth and Legacy: A Deep Dive with Vince Cardella
In this episode of The Wealth Multiplier Podcast, host Laurent Munier of Safe Pacific Financial sits down with Vince Cardella, Principal of Strategic Wealth Planning...
RRSPs for Canadian Business Owners, should you invest?
You have two main options: keep the funds inside the corporation or withdraw and invest personally. Today we’re going to go through these 2 scenarios...
