Summary:
Business owners are constantly thinking of how to grow their business and that is often tied to raising capital. Today, Kim Butler and No B.S. Money Guy Todd Strobel share different strategies on how to use whole life insurance to grow a business.
talks with guest Sam Denton from Denton Wealth Strategies. Together they approach the topic of student loan debt with a focus on the best ways to help medical professionals tackle their student loan debt.
Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at welcome@ProsperityThinkers.com and we may answer it in an upcoming episode.
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Show Notes:
00:00 Introduction
00:29 Today’s topic: How To Use Whole Life In Your Business
01:00 Walt Disney and Ray Kroc both used life insurance in their businesses
03:04 Real Estate and construction companies using whole life to grow their business
05:04 How borrowing against the life insurance doesn’t impact the growth
06:29 How to get business loans even when you don’t have a tradional credit line
07:57 The effectiveness of the cash value continuing to grow when borrowing against it
09:09 Direct recognition vs non direct recognition and what it means
11:06 Within the next 7 years will there be an opportunity to grow or save your business with an injection of cash?
12:31 Kim’s opinion on buying life insurance policies on employees
13:55 Setting up a 401k company match vs insurance policies
