Is IBC Too Good To Be True?

In this #tbt post, Mike and Chris talk through a question we get all the time. Is Infinite Banking too good to be true? Honestly it’s a question most of us have asked too! Take a listen to this podcast, and we feel you will be pleasantly surprised that our goal is not to ‘prove’ someone right or wrong, but it is to educate and re-educate. Skepticism is expected, and even welcomed! Enjoy this gem of a show!







Is IBC too good to be true transcript

Chris Bay:

Welcome to the Life Success & Legacy podcast. My name is Chris Bay and I’m joined today with the founder of Life Success & Legacy, Mike Everett.

Hey, Mike. In all the conversations that we have with people, there’s several questions that continually come up. We talked about another one in a different podcast earlier. The one I want to tackle right now is pretty common. And it is once people start to learn about this, especially after they’ve come to one of our boot camps, they say, “This sounds too good to be true.” Right?

Mike Everett:

We hear that all the time.

Chris Bay:

All the time, yeah. So when you first learned about IBC, you read the book and everything. Did you have the same feeling?

Mike Everett:

Well, being an entrepreneur, I didn’t have the same feeling because I always look a little bit on the super positive side of everything. So after I got done with the book, the second time, I literally thought I’m leaving a career and I’m doing this full time because it did sound too good to be true. But I thought, okay, I was 50 years old. I’d been doing what everybody else was doing. I was putting money into my 401K, my IRAs and mutual funds. I even had a stock account, but yet wasn’t getting ahead. So there was a part of me that said, “Yeah, it sounds too good to be true.” But there was a part of me that goes, “Wow, if this thing works…”

Chris Bay:

Well, let’s be real. Knowing different personalities and such, your personality is going to be a quick start. I mean, you’re going to see something and you’re going to process it in the snap of fingers. You’re like, “This works. I want to get into this. Let’s go.”

Mike Everett:

Yeah, let’s go.

Chris Bay:

But not everybody’s like that.

Mike Everett:

That’s right.

Chris Bay:

Present company included.

Mike Everett:

That’s right.

Chris Bay:

So for some people it’s not this, “Wow, I’ve tried all this.” Not everybody was at the stage of life where you are when you were introduced and not everybody’s had a chance to try all those things. And so, all they’ve heard out in the media and in the financial thinking is different ways to manage money. Then they get introduced to IBC and the common question is, “It sounds too good to be true.” Right?

Mike Everett:

That is true.

Chris Bay:

So talk to us a little bit about those kinds of things. When people come to us and they say, “It sounds too good to be true.” How do you talk to them about it?

Mike Everett:

Well, I get back to some pretty basic stuff. Is number one, you got to think long term. You hear that thing, if it sounds too good to be true, it probably is. Well, we take a different approach and we think you ought to do some more research and spend some time with us and let us educate you. Because if we can somehow educate you, you’re going to be able to see IBC in a different light. And one of the things that Nelson has said that is IBC is caught not taught. There’s a certain portion of us that can learn that, but there’s a certain portion of you that says, “Golly, this just sounds right.”

Chris Bay: