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Our guest Doug Peacock is a financial expert and advocate of the concept of "infinite banking," also known as "bank on yourself." This strategy involves using a type of permanent life insurance policy as a personal bank to generate cash value that can be used for a variety of purposes, including saving for retirement, paying off debt, and funding big expenses such as a child's education or a down payment on a home. Doug believes infinite banking is a vital wealth building technique because it allows individuals to have more control over their money and build wealth in a tax-advantaged way. With infinite banking, policyholders can access their cash value through loans and withdrawals, which can be done without incurring taxes or penalties as long as the policy remains in force. One of the key benefits of infinite banking is that it provides a guaranteed rate of return on the cash value component of the policy, which is typically higher than what is offered by traditional banks.
You can connect with our guest online at https://www.peacockwealthgroup.com.
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You can connect with you hosts on instagram:
James on Instagram: @James_Rippeon
Patrick on Instagram: @RentalPropertyCouple
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