Hey guys, does anyone have any experience with IBC (Infinite Banking Concept)? The founder was Nelson Nash and it is pretty much setting up your own “Bank” with dividend-paying whole life insurance. The agent I am working with is saying it is a great retirement fund but I am on the fence with stopping my 457/401k account.
I don’t but whole life insurance is generally not a great investment class (unless you’re selling it). Please do your due diligence.
Maybe, but I don’t know of a Nelson Nash
I wouldn’t do that, but I did a smaller dividend-paying whole life insurance policy than what the guy selling it to me was recommending. Glad I did, for now, fwiw.
Edit: mostly glad because of the dying part. It’s not a GREAT investment for retirement, it might be an okay investment if it’s set up abnormally. Mostly it makes the thought of dying a lot less unpleasant