237 episodes

Dollars and Nonsense focuses on helping individuals and families find financial freedom by leveraging the Infinite Banking Concept (IBC). The podcast delivers real-world tips, tricks, and techniques for anyone wanting to take their wealth to the next level.

We do all this through the hosts sharing their vast knowledge and sitting down with experts. Plus, the show is for the average person—you don’t have to be a financial expert or an economics professor to get a metric ton out of every episode. We extract priceless resources and action steps for you and deliver them in a 30-minute weekly show.

Learn more about the show by visiting https://livingwealth.com/podcast/

Our primary focus is a financial strategy called the infinite banking concept that allows you to control your savings and debt needs, helping you become your own banker, in essence. It was formalized by finance expert R. Nelson Nash in the early 1980s. But its roots go back much further.

Dollars and Nonsense Living Wealth

    • Business
    • 4.9 • 134 Ratings

Dollars and Nonsense focuses on helping individuals and families find financial freedom by leveraging the Infinite Banking Concept (IBC). The podcast delivers real-world tips, tricks, and techniques for anyone wanting to take their wealth to the next level.

We do all this through the hosts sharing their vast knowledge and sitting down with experts. Plus, the show is for the average person—you don’t have to be a financial expert or an economics professor to get a metric ton out of every episode. We extract priceless resources and action steps for you and deliver them in a 30-minute weekly show.

Learn more about the show by visiting https://livingwealth.com/podcast/

Our primary focus is a financial strategy called the infinite banking concept that allows you to control your savings and debt needs, helping you become your own banker, in essence. It was formalized by finance expert R. Nelson Nash in the early 1980s. But its roots go back much further.

    E236: How IBC Client Overcame The Scarcity Mindset

    E236: How IBC Client Overcame The Scarcity Mindset

    In this episode, Nate Scott sits down with Corey Carpenter, an anesthesiologist and long-time client of Living Wealth, to discuss Corey's financial transformation. Corey shares his journey from being overworked and burned out to adopting the empire over retire mindset and building a life that he doesn't have to retire from. 
    They discuss the importance of relinquishing control and trusting in God's plan, the true fulfillment that comes from living in the present moment and focusing on quality of life, and using infinite banking to build capital and create opportunities for himself and others.
    Ready to break free from the traditional financial system and become financially independent through infinite banking? Schedule your FREE private consultation now!
    Key Takeaways
    Adopting the empire over retire mindset can lead to a total financial transformation.
    Reading books like Antifragile can change your outlook on life and money.
    Experiencing boom and bust cycles can shape your mindset and financial decisions.
    The scarcity mindset can be both beneficial and detrimental, and it's important to reassess its impact on your life.
    Transitioning from a conventional wealth-building formula to the infinite banking concept can provide a new perspective on financial freedom.
    Seeking an abundant life involves reevaluating priorities, creating margin, and finding balance between work and personal life. 
    True fulfillment comes from living in the present moment and focusing on quality of life.
    Building capital allows for the creation of opportunities for oneself and others.
    Investing in non-traditional assets like cryptocurrency can be a part of an Antifragile financial strategy.
    Episode Resources:
    Gain FREE access to our Infinite Banking Course here 
    What is Infinite Banking
    Who was Nelson Nash?

    • 56 min
    E235: Why People Think Whole Life Insurance Is a Scam

    E235: Why People Think Whole Life Insurance Is a Scam

    In this episode, Nate Scott dives into the whole life insurance debate by presenting five reasons why people believe infinite banking is a scam, and five opposite reasons why people like whole life insurance. His goal is to bridge the gap between those who support and those who criticize whole life insurance. Nate acknowledges the valid concerns of skeptics while also highlighting the benefits that attract many to the infinite banking concept. By offering a nuanced discussion, Nate hopes to encourage listeners to consider different viewpoints when making financial decisions. 
    Key Takeaways
    Criticisms of Infinite Banking: its expense, the belief that agents' are only in for commissions, lower rate of return, the idea that you’re “borrowing from yourself”, and the perception of the insurance company taking the cash value upon death.
    Reasons for Choosing Whole Life Insurance: its long-term growth potential, contractual access to money, built-in estate and legacy planning, the ability to fund other investments, and the potential for safe, tax-free passive income.
    Bridging the Gap: Understanding both sides of the debate can help bridge the gap and foster understanding between proponents and critics of whole life insurance.
    Episode Resources:
    Gain FREE access to our Infinite Banking Course here 
    What is Infinite Banking
    Who was Nelson Nash?

    • 32 min
    E234: How Holly’s Cancer Diagnosis Changed Her View on Life and Money

    E234: How Holly’s Cancer Diagnosis Changed Her View on Life and Money

    In this episode, co-hosts Holly and Nate discuss how her perspective on money and life has changed since her cancer diagnosis. They encourage listeners to live a life they love today, rather than waiting for a future that is not guaranteed. Holly emphasizes the importance of waking up every day and choosing to do what you love, understanding your purpose, and being in God's will. They discuss the significance of relationships, the dangers of seeking control, and the freedom that comes from surrendering to God's plan. They also highlight the benefits of implementing Infinite Banking and having a financial plan that aligns with biblical principles.
    Key Takeaways:
    Live a life you love today, rather than waiting for a future that is not guaranteed.
    Wake up every day and choose to do what you love.
    Finding your purpose and being in God's will brings fulfillment.
    Prioritize nurturing and investing in meaningful relationships.
    Instead of striving for control, focus on managing stress and avoiding burnout.
    Integrating Infinite Banking into your financial strategy offers both freedom and security.
    Crafting a financial plan rooted in biblical principles can lead to lasting benefits and peace of mind.
    Episode Resources:
    Gain FREE access to our Infinite Banking Course here 
    What is Infinite Banking
    Who was Nelson Nash?

    • 42 min
    E233: How Infinite Banking Impacts Your Personal Income Statement and Balance Sheet

    E233: How Infinite Banking Impacts Your Personal Income Statement and Balance Sheet

    In this episode, Nate Scott discusses the confusion that happens when you misclassify policy transactions as income statement transactions instead of balance sheet transactions. Nate explains the difference between income statement and balance sheet and how they interact with each other. 
    He provides examples of income sources and expenses and how they affect the net free cash flow. Nate also discusses the movement of money on the balance sheet, including the impact of policy loans and repayments. He ends the episode by emphasizing the importance of understanding the classification of policy transactions and their impact on the overall financial picture.
    Key Takeaways
    Misclassifying policy transactions can lead to confusion and misunderstanding of their impact on personal finances.
    Income statement transactions and balance sheet transactions are different and should be classified correctly.
    Understanding the movement of money on the balance sheet is crucial for effective financial management.
    Policy loans and repayments are balance sheet transactions and do not add new expenses to the income statement.
    Episode Resources:
    Gain FREE access to our Infinite Banking Course here 
    What is Infinite Banking
    Who was Nelson Nash?

    • 33 min
    E232: Top 5 FAQs About Infinite Banking

    E232: Top 5 FAQs About Infinite Banking

    In this episode, Nate Scott answers the five most frequently asked questions about infinite banking. He talks about the importance of choosing the right insurance company, how policies continue to grow even when borrowed against, the difference between direct recognition and non-direct recognition, the pros and cons of different policy designs, and the whether or not you should run all finances through a policy. Nate emphasizes the need for individualized approaches and recommends starting with a solid foundation before considering more complex strategies.
    Key Takeaways:
    To practice infinite banking, choose a mutual life insurance company that offers dividend-paying whole life policies.
    Policies continue to grow even when borrowed against because the insurance company lends money against the policy's cash value, which still earns interest and dividends.
    Direct recognition and non-direct recognition refer to how insurance companies apply dividends to policies with loans.
    The design of a policy, including the base premium and paid-up additions, depends on individual circumstances and goals.
    Running all finances through a policy is not recommended for most people. It is important to start with a solid foundation, understand cash flow, and gradually incorporate policies into financial strategies.
    Individual circumstances and goals play a significant role in determining the best approach to infinite banking.
    Episode Resources:
    Gain FREE access to our Infinite Banking Course here 
    What is Infinite Banking
    Who was Nelson Nash?

    • 35 min
    E231: Should I Use Infinite Banking Policies To Fund All My Investments?

    E231: Should I Use Infinite Banking Policies To Fund All My Investments?

    In this episode, Nate Scott walks us through the types of investments that make sense to fund using Infinite Banking policies and those that may not be a good fit. He explains why investments that produce cash flow, like real estate, private lending, and business expansion, work well with IBC. On the other hand, long-term passive investments, such as retirement programs and stock market investments, may not be a perfect match for IBC. Nate also mentions the option of using policies to repay any debts and highlights the importance of understanding your financial goals before deciding how involved you want to be with IBC.
    Key Takeaways:
    Investments that produce cash flow, such as real estate and business expansion, work well with IBC policies.
    Using IBC policies to fund investments allows you to repay policy loans and reuse the capital.
    Long-term passive investments, like retirement programs and stock market investments, may not be a perfect fit for IBC.
    Using policies to pay down debt can provide a guaranteed rate of return.
    Episode Resources:
    Gain FREE access to our Infinite Banking Course here 
    What is Infinite Banking
    Who was Nelson Nash?

    • 21 min

Customer Reviews

4.9 out of 5
134 Ratings

134 Ratings

IBCJunkie ,

Great podcast

One of the best IBC podcasts in explaining with examples thanks to Nate. But Holly, it’s irrespective, not irregardless. And it’s Rockefeller, not Rothschild.

prhang ,

Changed my life

Buy into this story. It made me & my family much smarter about all things money! Living Wealth is the honest IBC provider!

West Va Steve ,

Change your financial future

I have been learning about infinite banking for several years. Nate and his team have been instrumental in reshaping my financial literacy as well as financial future. I am grateful for the content and information that has allowed me to see a change in me and my future. Many thanks!

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