Ep 225: Infinite Banking: The Strategy That Changed My Life

Have you ever had a money or career question you really wanted to ask, but didn't know who to go to, or just felt uncomfortable even bringing it up. You're not alone. Talking about money can feel intimidating, even scary, and that's exactly what I'm trying to change. That's why I created a free virtual coffee chat, a casual, no pressure, twenty minute conversation where you can bring one thing you're wrestling with and we'll talk it through.

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I'm Michelle Perkins, your host. My search for more fulfilling work led me to career in business coaching, where I stumbled upon a game changing discovery. Money issues often start with our mindset and habits. You see, our relationship with money is the key to overcoming those frustrating financial obstacles.

As an entrepreneur, coach, and problem solver, I'm passionate about helping you create a great relationship with money, because turns out that's the foundation for a limit free life. Each week on Money in You, I speak with amazing guests about all things money, mindset, practical tips, and everything in between. We're here to give you new insights, education and empowerment, so money can be one of your favorite relationships. So join us for some lively conversations and let's transform your financial life together.

Hello, Hello, good morning, and welcome to the Money and You Show. I'm Michelle Perkins, your host, and very excited to bring you another wonderful episode of the show. Enjoying bringing a wide array of financial education to folks out there who just want to learn more about finance, develop their real relationship with money in a better way, and just create financial wellbeing, confidence, comfort, security and growth for the people listening. That is really what I'm about.

And this show is really designed for people who maybe are coming out of you know, sort of the dark when it comes to money. Maybe you haven't had a chance to learn about it in the past, you haven't felt confident even attempting to learn about it. So this show is really designed for people who are ready to get ready to build their financial structures and ways of operation, and definitely what's closest to my heart is to build that really improved relationship with money so you're relating with it in a better way.

So it's not bringing about fear and anxiety, but it's bringing about freedom and you know, positivity in your life. So and that is possible, even for those who don't think it is. And today I have a guest on who is going to talk about something unique, different that I think really aligns with all of that, which is the topic of infinite banking, something you may or may not have heard about, but it is definitely a way to create more freedom, more control over your life and your financial life especially so and everything in our financial life is actually impacting our life, and that's what it's really all about.

It really isn't about money. It's what money can do for you and the choices it can bring. So, without further ado, I'm going to introduce today's wonderful guest, and a keysh Row helps professionals and entrepreneurs rethink how they use their money so they can stop feeling stuck and start getting real control, which is what it's all about for this show. After spending over three decades in the corporate world, kishaw first hand how even high income earners can feel financially trapped, constantly sending money out through loans, interest, and missed opportunities despite doing every thing right.

Today, he focuses on helping people shift how they think about and use capital so their money works for them instead of against them. Through his work with KKR Wealth Group and his investor community, Keish teaches practical strategies that prioritize control, flexibility, and long term growth over chasing returns. His mission is simple, help people use their money better so they can build wealth without adding stress or complexity. Keish, thank you so much for being here.

I'm so excited to have a conversation with you today. Thank you very much for having me, Michelle. I'm looking forward for this opportunity. Yeah, now, this is great.

So why don't we back up a little and if you want to just tell people sort of how you came into this work, that would be wonderful. No problem, no problem. So my story is very interesting. Ten years ago I had a corporate job tech company.

I live in Philadelphia myself. My job was in Manhattan. Hell of a commute. I traveled two hours each way, and that was painful, not just because of the travel, but back then I had two kids in elementary school, and it was challenging because I left before they got up.

I came back home and my wife was like, you can put them to bed because she was dealt with and that the only time I got to see them. So it was kind of like, it was very frustrating for me. So that's one aspect of it. The other aspect of it is I'm a tech guy.

You know, I work really hard and I make decent money. However, you know, with the traveling I'm doing and with all the hard work, my bank account didn't really reflect that. Said where was my money going? I mean, yeah, I got mortgage payments.

Yeah, back then I have a hell of an HLA. Well that's another topic. But you know, all these expenses I had, and you know, the money just kept on leaky out of my system, and I'm thinking, what am I doing wrong? So I started researching, started taking in so maybe I got a find, maybe another job.

People say real estates, you know, you can invest in real estates. But I kept on looking and then I heard about this concept. I heard about this strategy and I'm thinking, this doesn't make any sense. But this group of people out of Kansas, they were coming into Philly to have a two day seminar on this.

This was pre COVID, so it wasn't a webinar. This was live. So I didn't want two days. Let me go, worst case scenario, I get a free couple of free meals out of this.

So I went Day one just blown away, blown away. They talked about this the strategy, which when they explained it it made perfect sense. But then an if it makes so much sense, why isn't so many other people doing it? Why haven't I heard about it before?

I had two questions, So I emailed them that evening. Day two, I came in. They had my list of questions on their on their slide projector, and that broadly started Day two. I'm like, crap, those are my questions.

They answer every one of them calmly, confidently, and most important and made sense. So I was a good feeling about that. But I kept doing questions, not just for the two days, but for the next five months. Got of asking the same questions over and over again.

I kept on asking different people the same questions, just to look for anything that kind of like was a mismatch, something that was wrong. Maybe somebody was telling me something different. Guess what everything was, Alie. Everybody thought the same way.

Everybody had the body mindset. And I'm thinking to myself, you know what if I don't make a change in my life, never going to make a change in my life. I had to take that next step. So I did.

And this was back in twenty I want to say twenty eighteen. So twenty eighteen March I pulled a trigger. I decided to apply the strategy to it, just a small amount of my money that I had in my portfolio, and I did not see anything change initially. Then slowly things started shifting in my favorite.

Then that's when I realized this is the magic, and I decided to put more money into this system. This was back in March twenty twenty. Everybody knows what happened then that global pandemic, but I wasn't scared. I decided I'm going to move forward with this.

Let me tell you, Michelle, this was the best move I have ever done in my life. I used to tell people this is the best financial move. Now this was the best move because this has changed my perception of the money. This has changed my perception of risk, This has changed my perception of living life.

So I am so grateful to have found it. And right now I have one mission is to invite as many people as possible to join me on this journey so they can build wealth. They can build generational wealth, so their family, their loved ones, can reap the benefits of what I'm doing right now. Well, that is a great story, and so let's dive into some of the details of what this is.

Now You've created all this intrigues. So what are we talking about here? So excellent, No, no problem. This is not an investment.

So I'm going to tell you this again. It is not an investment. So don't think, oh, I have to invest in this. No.

A financial strategy where you keep access to any money you put into this strategy instead of locking it up in somebody else's plan. So you build this pool of capital that you control completely, so you can use it for anything while it still continues to grow and build. It is just mind blowing. You can use it to finance a new vehicle, a new car.

Let's just say your spouse needs a new car. You can buy a new car. You can use it to a financial kids college tuition. I have a daughter got just finished freshman year for a college, so I use this to help with that, or maybe a business opportunity or uh, you know, or an investment or god forbid, let's just say there's an accident, you have a big medical expense or something like that.

You have this money to help get you out of this as well. So it works on so many different levels. And you can borrow from your system and the money still continues to grow as he as if you never borrowed from it. And that is the secret sauce.

Okay, okay, And so how how you know if I'm interested in this? How do I how do I think about it? Because when you say infinite banking, I tend to think of sort of self bank, like you're creating your own bank in your life. But I might be off base with that, so I'd like some clarification.

Sure, and you're actually not off base. You're right on the party. So you are creating your own banking system. Ok.

He's what you're doing. I think about this, Michelle. You know, find any small town. What is the nicest building in this small town?

It's always going to be those nice log pillars, nice beak doors, very manicure, nicely the law. It looks nice. There's a reason for that. They know how to make money.

So I'm just learning what they do. I'm applying it to my life. And that's what this strategy helps teach you. And that's what I help teach people as well.

So it's called the Infinite Banking Concept IBC, and this is where I help people, you know, recapture money that they've typically typically been just giving away to the banks and to the mortgage companies and to these other institutions that are quote quote helping you know with this, and they are actually helping I'm not going to say that though not but I really think about it, they're actually helping themselves, you know, to your money. Because if you have a card payment that's five percent raise percent interest, even three percent interest, it's not that bad.

However, it's your hard earned money that's going to THEND. You know. But then I gonna will come back to again, says well, Kiche. You know, I don't I don't get an interest.

I don't you know, get a loan from my car. I actually save the money up and then I use that money to buy my car. I'm like, that's awesome, that's fantastic. But here's the thing that when you saved all this money and just gave it to the car company, that didn't you just lose a whole bunch of chunk of money in your bank account that you could have used for an investment or something else that could put money.

So you're always financing no matter what, whether you finance or a bank or your self finance, you're always financing. The strategy helps you do both at the same time, meaning you can the money isn't sitting in your bank, it's going to continue to grow. You can pull money out easy to pay for the car, but the money here is still going to continue to grow as if you never pulled money out, you know, which is why you know. It is a strategy.

That's not an investment. It's just something that works. It's solid. Many people, when I explained it to them, they don't believe it.

They think there's a catch, and there is a catch, there's a catch everything. But the catch is so minusculet, it's so small that it's it's it's peanuts, and the catch is this. It works very slowly in the beginning years. Then as immatures, as it's seasons, it gets better and better and more optimal, until it grows more than what you put into it.

So there's a there's a waiting pure in a sense, before this really becomes something tangible that you can use. And didn't actually use it within two weeks, so with it within a month, Okay, can't use it optimally until maybe a couple of years down the road, but you can absolutely use it. And I know some people that when they heard about this. One of my first clients, actually she found out about this, she immediately, you know, set this up for her in her system, and within a month she pulled money out to help pay for this large credit card bill that she's been paying month after month after month.

Will what's gone. She no longer had to pay the interest on that credit card bill going out to a credit card company. So it was very, very grateful. So there are mechanics that are you know that a part of this.

I'm not going to buy you with the mechanics, but it did really help her out. And when people start understanding how this works, when they when they see how the money still continues to grow and their bank account, like you call it, continues to grill. You know. All they want to do is put more money into this, which is what I did in Marsha twenty twenty when I started seeing it grow, when I started seeing a shift, I want to put more money.

So every year I add more money to it. Every year I turn around and continue to build this you know, bank, until they have more money here than then my tradition in Wellsborg go bank against And that's where I want to be, Okay. And so you know you're saying it's not a financial strategy, but. Somewhere it is a coindential strategy.

It's not an investment. An investment strategy, but that's right. And so where is the growth coming from? Because I feel like you know, to me, growth is come somewhere.

Absolutely absolutely. So the platform this uses, and this throws people off as well, but the platform that uses is a diffidend paying whole life insurance policy. Now all of a sudden, guaranteed people's alarms are ranking insurance insurance insurance. Okay, so I felt the same way.

Actually, but I've been doing this great coming up on nine years now, and that's the platform. I'm not using it like insurance. I'm using it as a bank. So it's designed this way.

You can't go to your all state insurance. You can't go to your state farm insurance agent and ask them, hey, can you please design this for me? They're not craning in this. So the gentleman that I'll figure this out.

His name is Nelson Nash. Nelson Dash back in the sixties and seven these he was a forester. So his job was to take care of Greece, Greece doing the last years. They last decades, centuries.

So that's how he thought. He thought of bad life that way. He thought about anything that way. So when he retired from being a forest ranger, he guy went into an insurance company, and then he was looking at all these insurance products, and then he started seeing patterns.

He started seeing these different things happening. And that's when he realized he could do the same thing with a diffident pain whole life insurance policy. And he designed it. He structured it, and there was a great book that I can share with the audience of Becoming your Own Banker by Nelson Nash.

Okay, I have heard of that. Yeah, they're coming banker. Okay, thank you. I'll put that in the show notes.

And is that something Did you find that book before you found the program or did you read that after the fact. I didn't find it. My wife found it for me. She's the one that told me about have you heard of it from the banking I'm like, what the heck is that?

That sounds that sounds really frue fruit. But when I started looking into it, it made sense. I actually bought the book. It's only like twenty twenty five bucks and it's a short book, It's like ninety pages.

But I did go through it. I read it very confusing at first, but then I met with the team that came down. Like I said, it was very eye opening. All of a sudden, a lot of the stuff in the book made more sense.

Then I had more questions. I've read the book again. I have more questions, but yes, the book actually helps. I recommend if anybody wants to learn this, get the book.

It is the Bible. Every time I read the book, I always picked up something a little bit more, a little bit more. She's one ton of books. But yeah, yes, that is definitely a very very the resource.

I'm glad you brought up that it's confusing because I have talked about it with some other people. The interesting thing that I find with this particular topic is the people I've spoken to about it, and people have approached me before about wanting to talk about it on the show, and they've talked to me in real life. They are over the top enthusiastic about this, like genuinely, you know, and I know you were extremely excited about, you know, sharing this because it's meant so much to you.

And I've found that everybody who I've talked to about it has had sort of that same feeling. But then it is confusing, and so I'm really glad that you said that, because I think at first, you know, kind of initial understanding, there are so many questions. As you said that you had, that people sometimes sort of shy away just because like I don't know if I can even get this, you know, around my wrap my brain around it. So I don't really know why that is.

It's interesting to me, but I find that when insurance is involved, that often happens. And so then we sort of developed this idea of, you know, stay away from whole life insurance, you know. I mean, I was sort of I had that coming along earlier in my life. But there's something about it.

I've had enough guests on talking about how they benefited from it in different ways that I think it's very intriguing. I know there's something there that that actually, you know, is very very valuable and helpful for people. It's a tool or you know that people are using in ways that are unique, and this sounds like one of them. And so, you know, I don't know how you kind of get over that obstacle of just trying to understand it well enough to be comfortable with it.

You did, I did eventually. Yeah. However, now it's a lot easier. When I did it, I had the group, I was able to reach out to them.

They were to help provide guidance and help. Now it's a lot more, it's a lot easier. There's a lot more people doing it. There's a lot more resources online and then you can YouTube infinite banking.

You can look me up. The thing I do is for me to pay for uh. This is my way of getting back. I want to help others go through this and help provide guidance.

I have a friend of mine he signed up. He learned about this. Actually his wife and my wife are friends. They woke about it.

She wanted to talk to me about, you know, infinite banking. What are you doing? And I explained it to them, and he did the same thing. He went, he did a deep dive into YouTube university, and he kept on asking me questions that we were talking, and I told him, you know, this is just one of my lanes that I'm doing, and if you're interested in learning, I can you know, I can introduce you, you know, to the team I work with, and we can work together to provide a strategy all free.

Basically, it's all complimentary and we offer this and if you're interested, you know, we'll sign you up and you read the book. He went all these resources and he said, kay, sure, I get it. So he signed up for it. He signed it up for him, his wife, his two kids back in elementary school, and unknownst to me, he signed up for a couple more policies afterwards, because he was kind of known about getting as much money into this as possible, because even if you don't use it as infinite banking, it grows a lot better than traditional bank accounts.

But now if you later on top of that, pulling the money out to invest in or just using it for life. You know, maybe roof you need you need to fix a roof, or like I said earlier, you know you want to buy a car. You can do that easily, easily because you have control. It comes back down to that basic thing.

It's control, Michelle. You have control of money. You're not giving it to some financial planner that says, yes, this can grow based off the stock market and you'll see the money back in twenty five years. I'm like, I don't want to wait twenty five years for this money.

I'm going to use it tomorrow our kids on a vacation down to Florida because they want to go to the Disney World. I want to be able. To do that, right. So are you borrowing against the benefit or how are you being able to use the money and keep it still growing?

Great question? So yes, I am borrowing against it. I'm not moving the money out. This is all part of the mechanics.

But this is very important for people to understand. I am borrowing it. But now when you borrow money from it, guess what it comes with a charge. And all of a sudden people are like, wait a bit, I got to pay to borrow my own money, and then people get a little bit all flustered because of that.

Yeah, same with me. I got frustrated as well, until I realized something, you know, later on, after I ask a lot of questions. We're using a diffident paying whole life insurance company for this. So as at the diffidentt paying company, this insurance company doesn't have a board of correctors up on top.

This is a mutual insurance company, meaning every policy owner is an owner. What does that mean to you, Michelle? What that means is that any profits, any you know, anything that was you know, made access at the end of the year, that gets redistributed back to the owner. So any money that it makes for any interest that gets put in that you have to pay, it eventually comes back to you.

And remember this keeps growing and growing and compounding year after year after year. So you know, if somebody starts just in their forties, I started this in my forties and it's growing well and I'm happy, very happy. If I do the my fifties, it would still grow well, just not as good as in my forties. But I think about this, if you started in your thirties or better yet, in your twenties.

How much better would you be off? How much much better would you be you know, when you're like before you even hit fifty years old, if you started doing on this. Very very inting Yeah. I go, I can't level it up.

My daughter turned eighteen last year. Okay, she opened up her own policy two months ago that she ounced that she puts money in. And I'm very proud of her because now when she's in her thirties, she's gonna have a nice pot of money to pull money from to buy a car, to go on a really nice vacation, you know, down payment on a nice house, or maybe she'll follow over dad's footsteps and invest in something. I don't know if she'll do that, but that's an option for her.

Yeah. And when the money that you're talking about pulling out, that is almost like I mean, in my mind it may not be the right word, but that's almost like profit. So you're not pulling out of the principle of something, or are you. It's okay, I keep on saying pulling out.

I need to rephrase it. It's alone. You're always borrowing from it, got it? Okay, You'll always borrow from it because if you're borrowing from it, it's not a factible event.

If we would draw money, it's a taxable event. Now I'm going to the mechanics, which I'm kind of avoid. Yeah, it's fun. Your listeners want to I'm sure they have these questions and you need to ask these questions.

And I'm okay with that. Well that's a good answer because I was wondering about the tax implications of all of it. So that's an interesting, uh you know, tidbit as well, but that you're borrowing and as a result, you're not being taxed on that money that you're pulling out. Absolutely correct.

Okay, wow, super interesting. So tell us how you know you're you're coming on podcasts to tell people about this because you're finding it so valuable. And you know, I always, I always feel good about people who are getting their kids involved because I know that for people to do that, that means it is truly a something that's been working and that you are confident enough in to get your kids into it. And I also just love the idea that parents could do this for their kids.

I mean, that is something that you could get them started on if you happen to be out of that range where it could still benefit you. So yeah, how would you suggest I mean you suggested the book of what else can people do? Do you have a way for people to connect with you to talk about this or where would you tell them to go if they do want to understand the mechanics of it better? Absolutely?

So. I have my own website, and on my website, I do have a free resource. Yeah, you can access. I can share the link with you.

You can put anywhere on notes. It's KKR Wealth Group slash podcast, So if your listeners go there. I have a number of resources. I have something called a Tiny Challenge where I can fit with you on online for two days and just have a conversation, talk about control, talk about your situation.

We can both ask each other deep questions and I'll get people more comfortable. So right now, when people hear about this take it, they're afraid. They're like, it's okay, I'll just keep my money in my four walk in then I can access it and then retire. You know what, For those people that want to do that, that's fine, that's okay.

I'm not trying to convince you guys. But the other people that want to try something different, but something that works, but want to learn more, have a conversation with me. So I have a free PDA on my on this page that people can download. They can just you know, provide their email.

I'll email it to them and then they have it. They can go through that very short, very simple, very easy. They can sign up for my tiny challenge. That way, we can sit together and if they just want to see how this affects their specific situation.

Maybe you know, they want to retire. Like I talked to a guy, he's in his early forties. You want to retire by the time he's fifty. Yeah, it's possible, absolutely possible, you know.

So I sat with them and we have to go through a process you have to understand and we can figure out, you know, how we can implement infinite banking for you for that person to let that meet their goal, which is retiring by fifty or maybe have another goal. Maybe they want to pay off a very expensive house that they have, or maybe they have a lot of debt, or maybe they have they want to go on vacation every year. They want to go on that really nice vacation with their families, and that's okay, that's not being selfish, that's just what they want, and I'm okay with that.

You know, So everybody has our own hopes and greens. My goal is to help them make it because I struggled with this ten years ago, and you know, like I said, I have two young kids. I could barely see them just because of my chop situation. So now I applied this, and all it is was a shift of where I'm putting my money and a shift on how to think about master these two things, it becomes infident of what you can do with us.

I love that, and I love that you brought that up at the at the end, because I think shifting how you think about money is the key in so many aspects of it. That's the harder part. Shifting where you put your money, that's not so hard. Shifting how you think about money, and you know, wealth building is that's that's the trick.

Our brands are very wired to kind of stick with what we know. So we're all in survival, though, and people don't want to do things that they'd never heard of, that they've never done, which is why you know, I'm going to be there with them, handholding them every step of the way. Maybe if they have any questions, they can reach out to me directly, you know, set up one on one calls. That's why I do this tiny challenge, because i want people to feel comfortable learn who I am, you know, just one on one conversation, ask me the tough questions.

Because I've been through this, I've gone through the ringer. My wife is thoroughly convinced. She's been telling me we got to get more policies every year. I'm like, well, we can, but let's let's be strategic about it.

But yeah, it is solid. She's convinced. And my wife is very difficult to convince. She's convinced.

And my daughter did it. I'm so grateful that she owns her own policy and hopefully she'll own a lot more, you know, in the next five ten years. But yeah, I'm here to help people. I'm here.

I'm here to pay forward. Michelle. So, Okay, well, there's a lot more to talk about with it, because it is it's a it's an interesting and it's an interesting idea and interesting process, and there are just a lot of questions. So thank you so much for being here and introducing this to our audience.

And to me, and yeah, I really hope people will connect with you because I think it's super interesting and you've you've made it sound very appealing and I think I hope it's kind of gotten some curiosity going among among listeners. And thank you. Also, people are just curious. Just have a conversation.

Just download the PDA. Do that give me to have a conversation. If you're so interested, get the book and then have a conversation with me if you want. There's no obligations, there's no charge for any of this.

I'm not charging. I'm just trying to help people out. Okay, Well, Keish, thank you so much. I very much appreciate you coming on and and and getting into this topic and so glad you've had so much successful it as well.

I mean, that's really impressive and exciting. So yeah, it's great to hear about new and different things. We don't hear about this out there in the world as much as some other things. So yeah, great, So thank you, and thank you audience for being here on the listening to the Money and You show.

Please keep listening. We'd love it if you would rate and subscribe and review the show, share it with your friends, if you know anybody who might be interested in hearing about this, and definitely connect with Key. She's offered you several wonderful ways to connect and to go on his site and get some freebies and even speak with him about this if you're interested. So put all of that in the show notes, and I would take advantage of any of these offers on the show.

It's great to be able to dig a little deeper if you're interested with the guests and to check out what else they're doing and what else they have going on. So thank you so much, and we'll look forward to seeing you next week.