|Ep.59| IBC and the Psychology of Money - Getting Wealthy vs. Staying Wealthy

Episode 59: IBC and the Psychology of Money - Getting Wealthy vs. Staying Wealthy Welcome back to The IBC Guys Podcast!   Welcome back to the IBC Guys!  In this episode, Dave continues examining The Psychology of Money through the lens of the Infinite Banking Concept (IBC).  In this chapter, we examine the difference between (a) getting rich and (b) staying rich.  For clarity, the definition of ‘being rich’ in this episode is accumulating financial wealth.  Dave would define “being rich” as something entirely different, but the premise is getting money to flow through one’s financial system, so the definition is necessary.  Housel goes on to describe how to keep the money within one’s system, specifically human behaviors in how to make that happen. As Housel takes us through the difference of getting rich vs. staying rich, and Dave works to take the listener through how IBC automatically keeps the Owner of the policy making money.  Legacy wealth, baby!  IBC is structured in a way that more and more of the money that is run through the policies comes back to the one’s financial system.  Don’t miss this episode! Also in this episode, Dave is encouraged by a client, he talks about a whole bunch of books, and Dave bashes professional athletes and rappers.  Take a listen!  Do you agree or disagree with what it takes to remain wealthy?   Key takeaway:  “Staying wealthy takes a combination of frugality and paranoia.”  - Housel   Resources Mentioned: [Link HERE] Morgan Housel’s The Psychology of Money 📩 Email: [email protected] | [email protected] 📞 Call: 507-205-2284 📅 Schedule a consultation: https://calendly.com/dave-familybankingsolutions/30min   📱 Follow us on social media:  Dave’s Facebook: https://www.facebook.com/dave.parmerlee Dave’s Instagram: https://www.instagram.com/dave_ibcguys/ Dave’s Linkedin: https://www.linkedin.com/in/david-parmerlee-121bb3293/   Mike’s Facebook: https://www.facebook.com/profile.php?id=100090029017545 Mike’s Instagram: https://www.instagram.com/mike_ibcguys/ Mike’s Linkedin: https://www.linkedin.com/in/mike-stevens-962186336/   🔔 Don’t forget to subscribe and leave us a review—it helps us reach more people looking for financial freedom through IBC! #InfiniteBanking #WealthBuilding #IBCGuys #FinancialFreedom