How to use Whole Life Insurance to Get Rich (Become your own Bank)

In this captivating exchange with Devin Burr, a dynamic force in real estate, content creation, and insurance, the spotlight turns to the revolutionary use of life insurance policies, particularly the game-changing concept of Infinite Banking.
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Devin, known as Mr. Brrrr, is also the third-largest advocate of Whole Life strategies.
He began his journey into wealth by making a strategic shift from wholesaling to embracing the Burr method for real estate in 2020. He unfolds the potential of channeling funds through a meticulously structured life insurance policy, unleashing the power of what he terms as Infinite Banking. Devin likens this approach to banking practices, focusing on lending and making loans, but with extraordinary perks. The returns, a remarkable 5-6 percent, outshine those in the stock market, and the best part-they're tax-free. Furthermore, the policy guarantees a steady rate of increase and provides a robust shield against legal entanglements.
Devin takes us on a thrilling ride through the mechanics of this innovative strategy, where policyholders can swiftly borrow against the policy, enjoying a streamlined loan approval process. Complete autonomy rests in the hands of the policyholder, who can decide when, or if, to pay back the loan, ensuring a fluid and adaptable approach to funding the policy.
The conversation delves into the fascinating realm of foundations and trusts, revealing how a well-structured foundation and trust, with the right beneficiary setup, can be a game-changer, offering not just financial flexibility but tax exemptions as well. Devin provides a sneak peek at his tax-free cheat code for evading taxes, drawing favorable comparisons between private and public foundations. The discourse touches upon the prevailing perceptions of 401(k)s and passionately advocates for the flexibility of self-directed IRAs.

[@wardnefi]

Whole life insurance is a great way to make your agent rich.

[@Vaughnfriday]

Yeah just gets the agent rich ahaha 401K is obviously mathematically better

[@Dc343jfu4]

@@Vaughnfridayi used to think the same but mathematically it’s false. Page 69 becoming your own banner he explains it.

[@TheDissidentTherapist]

401K's are a great way to make wall street and your FA rich.

[@jeffreykamke]

​@@TheDissidentTherapistexactly

[@DJ-pq7wz]

You know nothing of insurance then

[@jeffwakefield4842]

Y’all need to watch the documentary ‘This is Nelson Nash: the creator of the infinite banking concept’. What could it hurt? You might learn something.

[@DJ-pq7wz]

Ibc changed my life

[@EthanHo808]

The whole idea of having to be sold polices by people who clearly have a strong bias for one or the other is unfortunate. Different policies fit different needs. Term policies for temporary needs (debt, schooling, etc) permanent policies for forever needs (income, tax, estate, burial). Some misleading info in this episode.

[@TheDissidentTherapist]

IBC is not entirely about life insurance. People keep equating the two.

[@jeffamponsah1786]

This was probably one of the best interviews I’ve watched and listened to!!! A lot of nuggets and strategy.

[@RyanPineda]

Thank you! Glad it was helpful!

[@dailstancill720]

Its cash secured collateral with Death Benefit(Cash Value) as collateral. Same is done on other assets - CDs, real estate, margin loans....

[@TheDissidentTherapist]

Not exactly, because with an IBC policy, you have easier access to the cash and the amount of money in the policy does not decrease when you access the money, leaving it to continue to earn compounding interest.

[@MidoriTaka]

Way to be prepared for the podcast, not knowing anything on the subject and allowing a salesman to educate you on why you should give him your money.

[@marcussafar687]

Hahaha agreed! Plus Whole Life is a terrible investment and a scam

[@TheDissidentTherapist]

How exactly is it a scam?@@marcussafar687

[@scoobydoo3322]

​@@marcussafar687The problem here is thinking that whole life is an "investment". it is not. It's an asset to be used in parallel to an investment.

[@TheDissidentTherapist]

The misconceptions and misunderstandings in the comments are astounding.

[@OmarGarcia-cx7ch]

Ryan you should take this down, dont mislead people with this. If you are going to post this and have a lot of people watch it you need to do a counter podcast with someone that understands the market. How can you listen to someone that doesnt even know if you can borrow from your portfolio?

[@GolfsMyGame]

This is the best comment on this thread. 3% CAGR on the stock market long term is laughable as well.

[@scoobydoo3322]

Great point. It's disappointing but a 401k has huge limitations tho. Want to borrow from your 401k? great you can, up to 50% of your balance. You need 200k? Too bad. 50k max. What if you borrow in 4 years, but market tanks 19%? Too bad. Borrow from a smaller balance and destroy the compounding. It's time to retire? Big tax impact and still no protection from volatility. All the above don't apply to specifically designed policies from dividend paying whole with a mutual company. And your 3% compound annual growth rate is different than if you had a stock portfolio (were talking about the average person here. Not some Mark Minervini triple digit return phenomenon.) The compounding in a that type of policy is never interrupted. Plus the interest on loans are simple and charged yearly. Completely different story than a traditional loan. HELOC is also great depending on goals. On top of it all, you can use your policy for retirement. If you have a choice between a big retirement "account" and a big "income", What's more attractive? You still have all the above and your "income" you would withdraw would be enough after 30 years of compounding to not affect the continue growth of your cash value and death benefit as collateral on potential loans.

[@dailstancill720]

Real estate comparison is good - appaised value vs death benefit(human life value).

[@Goodbives7]

What's the minimum premium you have to pay to get back a return?

[@scheby5348]

It can be anything. 10K is a good start. I do 50K, 30K and 15k a year, 100K is really good. Obviously the more the better. The idea is to flow cash to your policies like you would your bank account. I'm so happy I did this, got off the banking system. The banking system imo is shaky. Insurance companies are way stronger than banks.

[@samsonswaroop]

Ryan I asking the same questions that he asked when Chris Naugle was on.

[@ToaLobendahn50]

Catcher in the Rye was one of my favorite!! Let’s go!!

[@gabrielepaciocco2163]

damn glad you highlighted this on you channel been looking into this recently and would like to learn more, thanks!

[@OmarGarcia-cx7ch]

Hahaha, I watched minute 17 and couldnt take more of this clown.

[@cremedelaclutchexotics7770]

It's excruciating. I'm just going to go through it and keep editing my comment...

[@Joshmarmolejo_]

What if you lose your job and you’re not always able to put money in?

[@Creativepreneurlive]

In the same way you can barrow against the cash value you can also use the cash value to pay the policy . So when you can't pay it, you can use your cash value to pay it. Ideally you don't want to go that long with this approach. But neither should you go too long without having income

[@NothingToProveTM]

What they Don't tell you is they (insurance company) charges you 6-8% to borrow your own money. 😂😂

[@Lex.Ramirez]

Yep

[@marcussafar687]

Yep, huge scam. This is terrible advice. I bet he got paid to let this dude on his channel. Whole Life is a terrible scam

[@NothingToProveTM]

@@marcussafar687 it's not a scam it's just a bad deal lol.

[@TheDissidentTherapist]

Actually, they do tell you this and actually, you are the insurance company, because it is a mutual policy. So that "interest" is actually contributing to your cash value gains. Mine is actually 5% and it is simple interest, not amortized interest.

[@TheDissidentTherapist]

No. I don't think you understand what is happening here.@@marcussafar687

[@welcomeback777]

Then the Insurance company goes out of Biz and there goes your retirement..No thx. Il invest my own monies. Life insurance data has shown it benefits the salesmen more then the client. Just go term insurance...

[@jeffwakefield4842]

The way these are set up, the salesperson doesn’t get the huge commission on a regular whole life. Dont think of it as insurance…it is structured differently.

[@jeffwakefield4842]

And these companies are 100-150 years old.

[@welcomeback777]

@@jeffwakefield4842 Name these companies? Also as the USA faces the greatest depression in the next 10 years or less. You think the Fed will bail out a life insurance company, no way. If u got all your eggs in one basket like life insurance. Bad idea...Diversify into a life insurance is fine, but if that blows up you need to have another asset retirement class.

[@JackvAllTrades]

You've def been watching too much Dave Ramsey.

[@JackvAllTrades]

“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.” ― Albert Einstein.

[@robertparsons313]

I know several friends and colleagues with 401k balances over $800k. These guys have mid-level jobs, not C level. They move money within their 401k to safer investments when needed. As they got older, they moved more into cash equivalents and large caps/S&P 500 funds to reduce risk. They will pay no tax on these balances until they either withdraw funds or convert to Roth. Where is the scam?

[@AndrewOborny]

I hate when they say you pay all the premiums into a term policy and if you dont die you dont get anything. I have 30yr term policy and it only costs 26k over the 30 yrs.

[@Rshen11]

The next 30 Yrs is going to be much more..

[@AndrewOborny]

@@Rshen11 why would i need to buy another 30 yr policy after the first. My kids will all be atleast 18 and i should be worth millions by the time im in my late 50s. Its called being self-insured.

[@Rshen11]

@AndrewOborny yea, but if you had a billion dollar policy it would be worth more..

[@AndrewOborny]

@@Rshen11 obviously you dont know what you are talking about. Who would buy a billion dollar policy and how much do you thing that would cost every year? Dumbest thing i have ever heard.

[@Rshen11]

@AndrewOborny trolling . It's always good to have more millions . Is what I'm saying.. you'll be worth millions when you kids turn 18.. ist better to be worth more millions..

[@jamesveal]

The average stock market returns in the past 20 years is close to 10%, not 3%.

[@scheby5348]

OK, so take a policy loan, let your own cash compound at 3% and use your loan to make the 10%. So you get a 13% return on your money. Every day your cash value increases

[@juanzapata7701]

@@scheby5348 That's exactly how it's done. People are missing the point that this concept not to let you money just grow, it's to leverage policy to make bigger profits on other investments will your cash value continues to compound uninterrupted.

[@jamesveal]

You know whole life insurance doesn't work that way. Buy life insurance (term) for what it's designed for and invest in stocks, mutual funds, ETFs, separately in a brokerage account. Life insurance should not be a hybrid - life insurance and as an investment.

[@scheby5348]

@@jamesveal I have a specially designed whole life policy. It is way different than what the is usually sold. Whole life generally is a scam, unless it's built correctly.

[@AndrewOborny]

​@@scheby5348except the loan is 5%. So you net 8% if the stock averages 10%. Just put the money in the stock market

[@JO3haNsum]

Well i pay insurance for a box of metal and a box of sticks...why not for me?

[@truefreedomintrading1896]

$SPY ETF +310% total performance since 12/01/2003 or 15.51% average annual return. There's a product for every person but, not every person is for a specific product. Most people are not consistent and do not follow-through on any long-term plans. Man, know thy self. 🙏🏽

[@dailstancill720]

Banking vs investing, different actions....

[@TheDissidentTherapist]

Correct. But retirement plans are kind of sold as "savings" plans, which they are not.

[@Brendabuildswealth]

I LOVE Ryan's podcast, but this was the most confusing episode. Even Ryan seemed confused with his facial expressions.

[@SFX_714]

Fr this was definitely a missed opportunity. Feel he could have been more prepared with better questions. Seemed tired or just confused with those facial expressions. Might be the peptides. Love his podcast tho and many of the guests he has on

[@cesarmendoza9356]

Please get dave ramsey on the pod

[@Joshmarmolejo_]

My stepdad keeps telling me to get an IUL.

[@Dc343jfu4]

Stay far away. An IUL is NOT used for IBC. Anyone that tells you otherwise is not an infinite banking practitioner with the Nelson Nash Institute

[@bolas003]

does he work for World Financial Group??? LOL

[@askme3992]

i still dont get. if you dont get it. dont get it

[@KDTheInvestorAgent]

Because it doesn’t make sense lol

[@doroteasilva]

Despite the economic downturn, I still manage to make $35,000 every 10 days after investing $3,500..God bless Expert Michael Allen

[@nicholaslogan7232]

HOW! I would really appreciate if you show me how to go about it. Please can you list the platforms ?

[@janetfreeman2300]

Same here, I started with $3,000 now earning $28,300 bi-weekly profits with his trading program. He's really amazing i still cannot believe someone can be this exceptional when it comes to Bitcoin activities.

[@jonathandyes]

I’m from the UK 🇬🇧 I’ve been trading with Mr Michael Allen for a year and he has proven to be trusted and the best broker. I strongly recommend him

[@breathless3693]

He's a great personality in the state 🇺🇸 I'm also earning from him.

[@AndreWilliams131]

I will advice you find a good crypto trader like Mr Michael Allen , that will help you through

[@Pipper99]

Not true, stock returns have averaged return of about 10% in last 25-30 years. He said less than 3%

[@cremedelaclutchexotics7770]

He said many extremely inaccurate things.

[@marcussafar687]

This whole episode should be taken down because it's a huge scam.

[@TheDissidentTherapist]

That is not exactly what he said. He said it is more around 3% once you actually account for all of the things he accounted for, which isn't accounted for in the 10% figure.

[@scheby5348]

Yeah he got it wrong. But don't give up on this, keep reading about it. This asset/product is very very powerful. It takes time to develop (5-7 years) but after that it magnified returns in whatever your investing in

[@TheDissidentTherapist]

He didn't get it wrong. He explains why it sin't exactly 10%.@@scheby5348

[@SFX_714]

The energy and the conversation just felt like it really missed the mark on this one. Idk if he was just tired or confused, or unprepared but it was hard to follow and glean any gems out this one. All good tho the majority of his pods are great idk what happened here

[@Puravidaselect]

Too many comercials!! Ouch

[@kyleinpa5285]

Ryan, the reason you were so confused at the end is because it is stupid to pay these huge amounts into a life insurance policy. Would you pay this into a car insurance policy? It’s dumb, but car insurance, and then invest for the future separately.

[@jeffwakefield4842]

You really should look into this. It is a concept, not a product. Don’t think of it as insurance….that isn’t really where the benefits are. You will miss out on the opportunity of a lifetime.

[@TheDissidentTherapist]

There is so much misunderstanding in these comments, it's unreal. That being said, I don't think the guest explained it very well. @@jeffwakefield4842

[@scheby5348]

Yeah, keep learning about this. It's a system, you have to know how to use the product correctly. Its not just buy this product and chill. You have to buy it and leverage it.

[@scheby5348]

Think of premiums as a deposit into your own banking system. This is how to ultra rich get generationally wealthy. It starts with you, by 3rd Generation your family will be untouchable

[@RealNickATX]

This ain’t it chief

[@Vaughnfriday]

Hope nobody falls for this😢

[@TheDissidentTherapist]

You clearly don't understand.

[@Vaughnfriday]

@@TheDissidentTherapist I understand that whole life insurance is the payday loan of the middle class. Having to pay interest to borrow your own money. Better off being in a savings account making 0 Interest. Better death benefit on term life insurance for 20 times cheaper.

[@TheDissidentTherapist]

That is not how it works. You borrow against the money, not the actual money. So your money is continuing to grow at 2-4% interest while you can use that money to buy income producing assets. Your dollars are literally in two places at once. You then pay yourself back, not the bank. If you pay back a bank loan, you never see that money again. Is that not a win? Not to mention the yearly dividend that increases even after you stop paying premiums at 30 years. You then continue to have a death benefit for your beneficiaries until you are 121 years old, not the end of the term. Try getting term insurance at 70. With whole life it continues and it gets larger every year.@@Vaughnfriday

[@TheDissidentTherapist]

It is also simple interest, not amortized. You also gain the flexibility of paying yourself back whenever you want as long as the interest doesn't get over the current loanable amount, which is similar to your current cash value.@@Vaughnfriday

[@juliansanchezbiz]

@@Vaughnfriday Thus you don't understand

[@peterolson5454]

This was painful to listen to. You may have lost me on this one. Created more confusion than clarity. Not a beneficial podcast…unless a subtle attempt to expose bullshit. This guy does not come across as an authority. Why listen to two guys talk about a topic that neither seem to know enough about? I’ve looked into Infinite Banking for quite some time, and R Nelson Nash is the closest thing I’ve found to credible info. Maybe have someone from the R Nelson Nash Foundation on. …but they don’t wear Jordan’s.

[@SFX_714]

Agreed

[@leeposton1664]

Buffet loves dividends but he doesn’t pay dividends

[@tsmall07]

This guy is great at explaining the concept but I'm not sure he understands the human lifespan.

[@Vaughnfriday]

😂😂he is just using this to scare people from the stock market and sell more life insurance. Feel sad for his customers

[@StapletonUSMC]

Insurance doesn’t lose money. 😂 Ask insurance companies in Florida, calculate risk. Ya… Ok buddy

[@AndrewOborny]

42:52 he cant answer how much it would pay thats how you know is a scam. Smh

[@juanzapata7701]

Life insurance makes so much money off of term policies..

[@patrickmcconnon93]

🚨SALESMAN ALERT🚨 Ask someone with a LICENSE not salesman!!!

[@Freshprankstv1]

Nope

[@jessebeahm348]

OMG this is a scam

[@ty6390]

Why is it a scam? Isn't it just another option to save money?

[@evazquez595]

IBC is 100% not a scam.

[@Lotuscakesandslimes]

Please! Do the opposite of everything he is saying to avoid wasting your money and going to jail for tax evasion.