Wealth Talks

Is the Dave Ramsey Baby Steps program the best path to financial freedom?

In this episode we take an in-depth look at Dave Ramsey's 7 Baby Steps and examine the financial principles behind them. From the debt snowball and emergency savings, to paying off your mortgage and building wealth, we break down what the program gets right and where it falls short for modern day.

Is avoiding debt at all costs really the key to building wealth? Does paying off your house still make sense? Or could there be a better way to put your money t...

Aggressive debt payoff often comes with a hidden trap: extreme financial strain, zero liquidity for emergencies, and severe burnout that often forces people right back onto their credit cards.

In this episode, discover how you can use Infinite Banking (IBC) to build a balanced, sustainable path out of high-interest credit card debt.

Key Points:

The "Race to Zero" Trap: Aggressive debt repayment can lead to unbalanced consequences—like depleted cash reserves and burnout—that ruin long-term momentum.

Building a Sustainable Strategy: You have to structure cash flow so you eliminate high-interest card...

This is a review of 2 life insurance policies. One was purchased 41 years ago, and has significant cash value growth built up over the years. The other policy was purchased about 7 years ago and doesn't look so good.

We compare these two policies here today and talk about what we found when we reviewed them.

The owner of these policies now doesn't have to take a HELOC against her house for some expenses she has, instead she can access the cash-value in her policy at a lower interest rate and pay it back at a flexible...

The system in America has failed our generation in teaching young men how to manage their money. As a result a lot of men at many different income levels are living hand to mouth/paycheck to paycheck, going around and around in the rat race of life, never understanding how to get ahead, or how to get their money to work for them.

This can change.

In order to become financially successful, young men need to take control of their finances and build wealth. Good financial principles create a foundation for your capital to flourish...

The Dave Ramsey baby step program doesn't include any whole life insurance. Why?  Dave calls Whole Life Insurance C***.  Is it cause he doesn't understand it? Or is it for another reason? We respond to Dave Ramseys argument against Whole Life Insurance here. 

Whole Life Insurance (only when designed correctly) can actually make The Dave Ramsey 7 baby step program better. Watch and see.

This is a review of a Participating Whole Life Insurance policy, designed for infinite banking, that was purchased over 18yrs ago. We have access to the original sales illustration which showed projections of what the policy would look like into the future, and then we also have a current active illustration showing what has actually happened in this policy over the last 18yrs.

This policy was well designed for Infinite Banking, with a good ratio of paid up additional insurance as well as base insurance. The actual numbers of this policy are quite a bit different than...

Wealth is generated is many unique ways. Often times we associate wealth with monetary status, but it has been insightfully  said that true wealth is what you have left when all your money is gone. This is an interesting perspective indeed. 

In this episode we talk about how wealth is created (even with no monetary transaction), we talk about real estate purchases and planning, we give an update on our Dad, and also, we have changes coming to the Wealth Talks podcast. We share what that change is going to be.

This Podcast episode is about a book we recently came across and enjoyed so much we wanted to share it with you.

Rhinoceros Success by Scott Alexander and forward written by Dave Ramsey, is a short humorous motivational book about developing a mindset and way of life that brings success. Using animals as metaphors. This vivid fast paced book will have you chuckling and laughing as you learn the secrets to personal growth and persistence.

Family Banking lets you Build, Protect, and Control Your Family's Wealth.

Our family has been doing family banking for 19 years. We teach other people how to set it up. If you want to get started with family banking, we would love to help you: go to our website here and request an appointment: https://mcfieinsurance.com/private-family-banking/

What if your family could become its own source of financing?

In this episode we explore how families can use a properly structured system with the principles of Infinite Banking to build a strong financial foundation...

Watch the video podcast on Youtube here:

https://youtu.be/yxpHd3fh0IM

Join our discussion as we ponder: What does it mean to Make America Rich Again?

Is America Rich like it once was? Steven doesn't think so...so how do we Make America Rich Again?

Maybe Making America Rich Again isn't just about the money. How are the values of America doing?

Is today's generation learning  values and lessons from their parents and grandparents?

How can people today become richer and enjoy a better quality o...

Is Infinite Banking the end all be all magic financial formula? No.

However IBC can make everything you do financially better.

Ben shares a recent example of how he used Infinite Banking to generate over 30% return in one of his businesses. This would not have been possible using a CD, 401k or other type of limited access investment tool.

Using a well designed High Cash Value Participating Whole Life Insurance policy with Infinite Banking is an excellent building block to a successful financial foundation. It is a tool that gives you greater access, g...

If you want to understand how an Infinite Banking Policy for 2026 should function and be designed, you are in the right place. We have been practicing and designing infinite banking policies for the past nearly 20 years. A lot has changed with insurance products and designs over this time. Here is what you need to know:

How much Life Insurance coverage you needs depends on what your goals are with leaving a death benefit and using the living benefits of your life insurance policy such as with Infinite Banking.

This episode will help you understand how much insurance coverage you need. 

After listening, you'll have a better understanding of how life insurance works, and have some realistic expectations for what growth and guarantees look like with purchasing and owning whole life insurance.

Contact: [email protected]

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If you want to learn about how policy loan interest works on a whole life insurance policy and how that works with Infinite Banking, this is the episode for you.

Having the ability to take a policy loan is a huge financial benefit, but you want to make sure and understand how the interest works on a policy loan before you use it so that you don't destroy this asset and create a liability for yourself.

Listen and learn how the interest on a policy loan works, including a few guidelines on things you want...

This episode is about how our clients have used Infinite Banking.

Infinite Banking as the name suggest can be used for and infinite number of things. Some of the success stories our clients have used infinite banking for are encouraging, inspiring and just fun. Listen and get inspired and learn how you can better implement infinite banking to create a better financial future.

In this episode:

Investing in Infinite Banking vs investing with Infinite Banking. What's the difference?

Today we're talking about how you can use Infinite Banking with investments to grow your money even faster.

A policy loan can be used for many different things, including investing. This can be investing in the stock market, investments in real-estate, business funding, financing your taxes, etc.

Here is a real life example:

Ben shares how he uses Infinite Banking to invest in his equipment business when he has the opportunity to buy a tractor or piece of equipment...

Did you know you can use Infinite Banking to save money on your taxes?

There are multiple tax benefits to using Infinite Banking, and in this episode, you'll learn a few smart tax strategies to save money on taxes by using Infinite Banking.

With the infinite banking concept and Participating Whole Life Insurance, you get tax deferred growth on your money and get tax free access to this growth! BIG WIN!

Don't overpay. Listen and start saving!

📄 INFINITE BANKING MADE SIMPLE BINDER | Get the free binder here: https://pages.mcfieinsurance.com/inf...

In this episode, you'll learn how to use Infinite Banking even better by learning from the stories of other people.

In this episode, learn about how people use Infinite banking to:

Answers to questions about Infinite Banking such as:

• How much money do I need to start Infinite Banking? 
• Should I pay off debt before starting Infinite Banking?
• Does cycling money in and out of my policy grow it faster?
• How to stop paying premiums on your Infinite Banking policy.
• What is an RPU?

Listen and get answers to all these questions and more in this episode of Wealth Talks podcast.

Infinite Banking can help you level up your financial game and build wealth faster, but there is a lot to understand and sort through to understand what is Infinite Banking?

In this episode we answer questions about Infinite Banking, and discuss how you can level up your financial game and build wealth by doing what successful people do. Both strategy and philosophy.

Some of the questions in this episode are:

 How is infinite banking different than regular banking?

Why use whole life insurance?  Why not term, why not indexed universal life in...

Infinite Banking can help you level up your financial game and build wealth faster, but there is a lot to understand and sort through to understand what is Infinite Banking?

In this episode we answer questions about Infinite Banking, and discuss how you can level up your financial game and build wealth by doing what successful people do. Both strategy and philosophy.

Some of the questions in this episode are:

 How is infinite banking different than regular banking?

Why use whole life insurance?  Why not term, why not indexed universal life in...

In this episode we go over some of the problems with Infinite Banking.

Some of these problems are with the Infinite Banking Concept directly. Some are false teachings/marketing about the infinite banking concept. Other problems we address in this episode are personal problems that must be taken care in order to have success with practicing the Infinite Banking Concept.

Watch Steven's video on IUL here: https://www.youtube.com/watch?v=cDrQ7OIYKQE&t=1019s

This episode is about how to use Infinite Banking as part of your retirement strategy.

Infinite Banking is a financial tool that gives you a competitive edge in everything you do. Using The Infinite Banking Concept as part of your retirement planning gives you the flexibility of a very liquid asset that you can use for increasing your retirement income.

Listen and learn about how you can use Infinite Banking to make your retirement even better.

This episode is about how to finance purchases with Infinite Banking. Using Infinite Banking like your own private bank provides you with flexibility, freedom and greater financial gain than using other financing methods.

With interest rates no longer at record lows, Infinite Banking makes sense for many purchases that you finance all the time.

When you listen to this episode you will realize the benefits of using Infinite Banking with a Whole Life Insurance Policy over just saving up and paying cash. Dave Ramsey teaches to pay cash and this can be good. Infinite Banking...

In this podcast episode, we're going to discuss how to use the Infinite Banking Concept efficiently.

As IBC practitioners, John and Ben share some of the things they have learned first hand by using Infinite Banking.

Ben shares how he overextended when he first started purchasing whole life insurance policies for infinite banking. He explains what he did to fix this, and how he is using Infinite Banking now.

Learning these does and don'ts from an Infinite Banking Practitioner is extremely valuable and will help make you more successful with practicing Infinite Banking.<...

In today's economy, your need for financing is greater than your need for a rate of return.

Recovering the interest you would normally pay to a bank for financing something is what Infinite Banking is all about.

Getting started with the Infinite Banking Concept requires discipline. Infinite Banking is a longterm financial strategy and not something that is built overnight. Infinite Banking uses Participating Whole Life Insurance as part of the strategy to build a financing system where you can access capital to finance whatever you need, while your money is still earning a return. 

This is the story of how Nelson Nash discovered the Infinite Banking Concept, as written about in in his book Becoming Your Own Banker - unlocking the infinite banking concept.

Nelson Nash wrote the book Becoming Your Own Banker and did seminars around the country teaching and sharing the Infinite Banking Concept.

Since learning about Nelson Nash and Infinite Banking in 2005, we have been practicing and teaching The Infinite Banking Concept. We started McFie Insurance in 2007 to be able to sale life insurance specifically designed for Infinite Banking.

Infinite Banking has made a...

John, Ben and Steven McFie were home educated and are self-elected college opt-outs. All three of them are business owners and do not regret skipping a college degree.  

College can be a smart or a foolish decision depending on the circumstances.

This episode is not meant to discourage or encourage a college education, but is rather about learning your options and gaining perspective so you can make a smart decision with your resources of time and money.  Listen and hear stories, examples and their personal opinions on college education and schooling.

These are the 5 Human factors from the book Becoming Your Own Banker (The Infinite Banking Concept) written by R Nelson Nash

In the book Becoming Your Own Banker, Nelson Nash writes, "If you control these 5 factors, you can be successful at Infinite Banking. And if you are successful with infinite banking it will put you miles ahead of your peers in the financial world."

It is important to master these 5 human factors. In this podcast episode we go over...

Indexed universal life insurance, commonly called by it's acronym IUL, is one of the most complex types of life insurance, and its complexity often makes it difficult to understand.

In this episode we break Indexed Universal Life Insurance down into simple plain english, making it easy to understand.

You'll learn the history of IUL, what it its, how it works and if its right for you.

 Download Binder on Understanding IUL Here: https://pages.mcfieinsurance.com/iul-made-simple/

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Vacation has a way of bringing you a new perspective on life. A change of scenery, new experiences, a different schedule and different culture. We went on vacation, and have some aha moments from our trip to share with you.

Traveling from Indiana down through Kentucky, Tennessee, Georgia, and Alabama, we went vacation at Gulf Shores Beach on the Gulf of America.

We visited Buc-ees for the first time and learned about how much brisket they go through per day!
We fished in the Gulf of America
Shell finding on the beach and...

Some people see forced savings as a negative limiting rule they are bound to, while for some it provides guidelines to help them thrive.

Is forced savings a good thing for you? Does it limit you? Let us know how you feel about it.

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Learn about Whole Life Insurance and how it works, the pros and cons of whole life insurance, how you can use whole life insurance cash value and loans.

Also in this episode learn more about Indexed Universal Life Insurance.

Most people think life insurance is about what happens when you die. Participating whole life insurance is a financial asset you build equity in while you're...

Explore and learn the key points from the book Rich Dad Poor Dad written by Robert Kiyosaki.

Build a system of assets instead of liabilities. Learn to think like the rich instead of like the poor and middle class.

Dr. Steve Hryszczuck read Rich Dad Poor Dad and implemented some of the principles of the book into his life. The results yielded a system of assets providing a cashflow return. We sat down with Dr. Steve and he shares and explains what he has done, and how it is working for him in these two...

On todays episode 566, we break down how to fund dividend-paying whole life insurance used with the Infinite Banking Concept, including:

- Paying your policy premium
- How to stop paying a premium on a whole life policy
- Retirement with a policy designed for Infinite Banking
- Riders and Premiums on dividend-paying whole life insurance

Get The Show Notes Here: https://mcfieinsurance.com/podcasts/funding-whole-life-insurance-for-infinite-banking/

On wealth talks podcast we break down Nelson Nash's revolutionary Infinite Banking Concept step by step. Learn exactly how to start infinite banking, i...

Buying Term Life insurance rather than Whole Life insurance and then investing the difference of premium payments, became popularized financial advice in the 1970s and 1980s by AL Williams. Now today, 50 years later, this advice is still the cornerstone principal for many financial advisors including Dave Ramsey.

Is Buy Term and Invest the difference the best option now? Whole Life insurance policies available today are different than 50 years ago, the market is always changing, is it time to revisit buying term and investing the difference?

In this episode we compare buying term and investing the...

Are you often late? ... It could mean you're an optimist type personality. Ben explains in this episode and Steven self convicts.

Wealth is often used in reference to monetary value or quantity. Many people never consider the wealth that is beyond money.

Relationships, Memories, Health, Family, Friends, Opportunities etc.

Wealth is a comprehensive expression. Today on Wealth Talks Podcast, we talk about some of these other types of wealth. *This episode takes a bit of a turn.*

Link to Jesse's video on buying his house: https://www.youtube.com/watch?v...

Buying Term Life insurance rather than Whole Life insurance and then investing the difference of premium payments, became popularized financial advice in the 1970s and 1980s by AL Williams. Now today, 50 years later, this advice is still the cornerstone principal for many financial advisors including Dave Ramsey.

Is Buy Term and Invest the difference the best option now? Whole Life insurance policies available today are different than 50 years ago, the market is always changing, is it time to revisit buying term and investing the difference?

In this episode we compare buying term and investing the...

A good life insurance policy can become a Modified Endowment Contract when it fails the 7 pay test. What does that mean in plain terms? We explain in this episode.

Learn what a MEC is (modified endowment contract) 
What if my Infinite Banking Policy becomes a MEC?
Is a MEC bad?
Can a MEC be good?
How to avoid a MEC Why did the rules for life insurance change in 1988?
What is the 7 pay test for life insurance?
Learn the history of the MEC laws passing congress Podcast

 Episode 560: https://www...

Converting term insurance into a permanent life insurance policy can allow you to recover the cost of your insurance in a matter of a few years, insure that your premium will never increase, your death benefit will never expire, and in addition to this, build cash value equity in your policy that will continue to accumulate and grow tax free. (listen to understand more about this)

One of the best kept secrets about Life Insurance is convertible term insurance. Convertible term insurance allows you to take advantage of the low premiums of term insurance and lock in...