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Real Estate Runway - Chad Sutton - Insta
S1E63: Building a Financially Secure Future through Infinite Banking with Sally Marie Gimon
July 20, 2022 25 mins
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Episode Description

Chad Sutton interviews Sally Marie Gimon about the Infinite Banking Concept. Sally is a licensed life insurance agent for 19 years and specializes in Infinite Banking. She helps clients become debt-free ⅓ of the time in comparison to how they were taught to pay their bills. She holds a weekly mastermind for her Real Estate group that reaches over 800 investors and hosts Money Secrets weekly on Win-Win Women TV. In this episode, Sally shares how the infinite banking concept is to use a whole life insurance policy as a way to store your wealth and solve both debt and retirement savings problems at the same time. The strategy also has a very low risk of ever having to pay back the loans, as long as you don't run into any accidents or health issues. Sally also talks about Vortex Banking

[00:01 - 07:12] Opening Segment

  • Introducing Sally to the show

  • Brief background and career

  • Ensuring your money with the infinite banking strategy

  • Treating it like a long-term savings account

[07:13 - 21:49] Using a Trust to Save on Taxes

  • The trust is a legal entity that the IRS recognizes as a taxpayer and is exempt from the capital gains tax

  • The trust owns the whole life insurance policy, which is exempt from the capital gains tax

  • This combination of the trust and whole life insurance policy creates a vortex - a taxable account that is protected from taxes

  • The trust can cover any type of business transaction, including personal expenses like food and clothing

  • The trust is a great way to reduce the worry of 1031 exchanges and other tax obligations related to your business

  • The trust can also protect your privacy by keeping your assets anonymous

[21:50 - 25:23] Closing Segment

  • Sally offers a gift of her trust and infinite banking knowledge!

  • See the links below

  • Get to know more about Sally in the Quattro Trio

  • Final words

Quotes:

" Infinite banking has been around for 179 years. People like Walt Disney used a loan to buy the land in Disneyland.“ - Sally Marie Gimon

"Most people, my father included, had a trust for not going through probate but we still had to pay taxes on everything." - Sally Marie Gimon

Connect with Sally through LinkedIn, Facebook, or visit sally.liveiws.com. Book an appointment by visiting www.learnwithsallymarie.com.

LEAVE A 5-STAR REVIEW + help someone who wants to explode their business growth by sharing this episode. Find out how team Quattro can help you by visiting www.TheQuattroWay.com.

Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.