Many people worry about providing security for their families if something unfortunate happens. They think about what their spouses and children will do to pay the bills. So comes the question: Should you buy life insurance or focus on saving money in a bank?

While both life insurance and savings can result in a lump sum benefit for your loved ones, there are key differences, especially if you also plan to implement IBC to secure the future of your family.

In today's conversation, Russ, Joey, and the financial freedom coaches talk about the reasons not to use your savings account for IBC, and they focus on the following:

The top reasons not to use your savings account for IBC
Why a life insurance policy is a better place to build your wealth
Recognizing your biases and shifting your mindset to achieve your financial goals

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Turn Active Income Into Passive Income:

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Find Out How Close You Are to Financial Freedom:

https://go.wealthwithoutwallstreet.com/quiz

Join the Wealth Without Wall Street Community: https://www.wealthwithoutwallstreet.com/community

Discover Your Path to Financial Freedom:

https://www.wealthwithoutwallstreet.com/path

Join the Passive Income MasterMind:

https://www.wealthwithoutwallstreet.com/club200

The Land Geek:

https://www.thelandgeek.com/

Invest With Your Friends and Family:

https://www.tribevest.com/

Know Your Investor DNA:

https://go.wealthwithoutwallstreet.com/investordna

Creditor Protection Around Different Assets (including Life Insurance) for Different States - https://www.actec.org/assets/1/6/Survey_of_Asset_Protection_Techniques.pdf?hssc=1

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Round Table | 10 Reasons Not To Use a Savings Account for IBC

The Wealth Without Wall Street Podcast