Being a wealthy entrepreneur with the infinite banking concept looks different for everyone. Just like people come in many different shapes and sizes, successful entrepreneurs come with many different talents and skills.
The term ‘entrepreneur’ was used in language as early as the 1700s, but indicated that an individual had some form of business competency without having formal training. It wasn’t until the 1920s when modern economists like Ludwig Von Mises and Carl Menger, coined the term to have a positive connotation.
A more recent economist, Robert Reich, refers to the ‘entrepreneur’ as an enterprising individual who builds capital through risk /and or initiative. (mashable.com)
There are many successful entrepreneurs today that publish articles, blogs, and even books on their strategies of achievement. We can definitely glean from their advice, but in reality, there is no handbook on how to be a successful entrepreneur. Each magnate, from their own prospective industry, has climbed their way to the top with their own inertia, motivation, and effort. The question then becomes:
How does one become a wealthy entrepreneur?
If you have the desire and determination to make millions then, like other budding entrepreneurs, you’ve taken the first step. But after you’ve made the decision to make serious money, how do you know if you’re making the right moves to make abundance stick?
Ben Franklin says, “An Investment in Knowledge always pays the best interest.”
And Frank Clarks states, “The more you learn, the more you earn.”
Education is Key
At Paradigm Life, we first and foremost focus on education. Our education is different from other financial firms; we concentrate on teaching our clients about how the Infinite Banking Concept and Whole Life Insurance is used by wealthy entrepreneurs and businessmen to achieve the financial success and freedom they’re looking for.
Infinite banking allows you to be your own banker. This means that instead of going to a bank to finance homes, cars, or businesses (to name a few), finance items with your whole life insurance policy.
Properly structured Whole Life Insurance earns interest, has guaranteed growth, is free from the performance of the stock market, and provides ample tax benefits. These features provide the living benefits that make a Whole Life Policy an asset. Also, doubling the worth of your life insurance as an asset, is the fact that it comes with a death benefit.
When you borrow against your life insurance policy to reinvest in other performing assets, you are tapping into the very same velocity of money that banks use to make money. Instead of the bank taking your dollar, lending out 90% of it and keeping 10% on reserve; you as an infinite banker borrow your own money, and earn interest on your own money. You are removing the bank from your equation.
Infinite Banking makes for Wealthy Entrepreneurs
As an entrepreneur, Infinite Banking helps create a steady money-strategizing system which can build wealth.
If an entrepreneur knows his money is safe, he can make accurate financial decisions that disengage fear and promote profit. Whole Life Insurance and the Infinite Banking Concept provides exactly what an entrepreneur needs to be wealthy.
For more information, talk to a Paradigm Life Wealth Strategist.
Read: How to Permanently Strengthen Your Business
Watch: Life Insurance: The “And” Asset
Listen: Entrepreneurs: Leaders of the Future
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