My guest today is Gary Pinkerton, a wealth strategist at Paradigm Life. Gary has a fascinating personal history as a former military submarine captain. He transitioned into real estate as a civilian career. Gary and I discuss his path to wealth strategy. We also explore Gary’s specialty in infinite banking, which is a self-banking investment strategy.
Gary explains self-banking and outlines the benefits of using an insurance policy as a revenue source. We discuss the multiple uses for the money and how investors can take control of their liquidity.
00:00 — Introduction to the Big Mike Fund Podcast.
00:30 — Welcome Gary Pinkerton to the podcast.
01:03 — Gary’s former military experience.
03:07 — How Gary transitioned into civilian life.
05:06 — How Gary got involved with Paradigm Life.
06:30 — Gary’s observations of his differences from other veterans.
07:23 — The level in which Gary’s family is involved in his real estate business.
07:44 — How can life insurance be used as a self-banking vehicle?
08:20 — How life insurance protects wealth.
11:15 — The typical interest rates Gary has within his deals.
11:53 — The benefits of self-banking.
12:53 — Is the interest rate deductible?
15:22 — The differences between paying a lump sum into a policy versus paying into a policy over 20 years.
18:10 — The tax issues that come up with insurance policies.
20:06 — Paradigm Life’s goals for their clients.
21:34 — Why insurance policies include fees.
24:16 — The costs associated with one of Gary’s policies.
26:11 — How Gary structures his policies to help clients maintain their policy.
26:57 — Should you purchase life insurance for kids as a passive income?
29:15 — How to contact Gary.
31:04 — Mike’s impression of Gary’s policy structure.
31:42 — The standard process an investor goes through to use their policy as a savings account.
34:19 — How Gary’s deal structure is better than a “no money down” structure.
35:20 — Gary’s final thoughts for the audience.
36:50 — Mike encourages people to invest in their own talents.
37:16 — Outro to the Big Mike Fund Podcast.
The Secret Asset by David D’Arcangelo