GI233: Infinite Banking with Jim Oliver

GI233 Infinite Banking with Jim Oliver

Jim Oliver founded Create Tailwind in 1988, a financial firm that focuses on the Infinite Banking Concept of being your own banker. A unique investment strategy that helps certain individuals minimize taxes and interest expenses. Jim himself has utilized this strategy to start and purchase over 30 companies.

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Transcript:

Announcer:
Welcome to the Global Investor Podcast, a show that focuses on helping foreign investors enter the lucrative US real estate market. Host Charles Carillo combines decades of real estate investing experience with a professional background in international banking to interview experts in all areas of US real estate investing. Now, here’s your host, Charles Carillo.

Charles:
Welcome to another episode of the Global Investors Podcast; I’m your host Charles Carillo. Today we have Jim Oliver. He founded Create Tailwind in 1988, a financial firm that focuses on the Infinite Banking Concept of being your own banker. A unique investment strategy that helps certain individuals minimize taxes and interest expenses. Jim himself has utilized this strategy to start and purchase over 30 companies. So thank you so much for coming on the show today, Jim.

Jim:
Thank you, Charles. Thanks for having me, and I look forward to spending some time with the audience. Yes, yes. This

Charles:
Is a topic that we don’t talk about much. I think it’s been years since we’ve had a professional on that talk about infinite banking and being your own banker. So before we get into everything encompassing that, can you give us a little background about yourself, both personally and professionally prior to getting involved with alternative investments in infinite banking? Yeah.

Jim:
So I grew up in Los Angeles. I grew up in the inner city of Los Angeles, and I was fascinated with people that lived in really nice neighborhoods and had seemed to have endless amounts of money in my narrow point of view. And I thought they have a perfect life living in, say, palace Verdes, for example, in Los Angeles. And I was living in Inglewood, and I thought, what do they know that the people that live here don’t know? I thought it had to be, they had to know about money. They had to know how money works. So I was always fascinated with that. So when I went to school, I studied business so that I could start learning about money. And then I got outta school, I went to and got a position as a fee-based financial babysitter, I mean a financial planner.

Jim:
And and I thought, now I’m gonna learn about money. I’m gonna learn about how to invest money. But no, I was just a middleman, but I was a pretty good middleman. I had 700 million under management at one point in time, and I thought, you know what? This is pretty easy. I just gotta take everybody to lunch. Take ’em to play golf. This is, this is my life. But then I got this report one day, Charles, and it said that our clients for this period of time got 9.38% on their money. And I thought, it doesn’t seem like my, I mean, I have money in that account. That doesn’t seem like we got 9.38%. So I went and I looked at the net after taxes, fees everything, and it was like, oh, wait a minute. That’s like 4%. That, that, that doesn’t make sense.

Jim:
Why are we telling everybody they’re getting 9.38%? They’re not really getting that. And so I started diving into how my clients made money, and I went, wait a minute. What I’m doing is, is not what they need to be doing, and it’s not how they made their money. And, and so by chance, I ran into Nelson Nash. He was doing a 10 hour course on infinite banking, becoming your own banker, and I thought, become my own banker. That sounds kind of cool. I, yeah, I wanna be my own banker. And I went to his, his course in Texas, and I was like, this guy’s either brilliant or he is crazy, and I wasn’t sure which one. And so I, he said, Hey, I asked him a bunch of questions after the seminar. He was very gracious, and he just answered all my questions. He was in his late seventies at the time, and he had just spoken for like six hours straight.

Jim:
And he said, Hey, I’m doing this again in two weeks. Come back. It’ll make more sense the second time through. So I did, in about halfway through, I had this aha moment, like, wait a minute. You finance every single thing that you buy. You either pay interest or you give up interest. You could have earned somewhere else. And if I could eliminate that problem for people, IE they could become their own banker, what an impact that would have on their wealth. So maybe I should focus on that, not on what they’re gonna do with their money, whether they’re gonna invest it. I mean, I don’t, whether it’s in the stock market, real estate hard money. I mean, lending, I’ve, I’ve seen everything that you can imagine, right? I’ll focus on controlling the money pool. And that’s kind of how I got into infinite banking.

Jim:
And, and I kind of see it as a ledger, right? The money pool is on the left side of the ledger and the assets, and I know that’ll drive CPAs and accounting majors crazy, but the assets are on the right side of the ledger. Right? And the reason I keep it like that is because I want you to think about this differently and backwards, but I’m just gonna show you how to control the money. And then what you do with the money is, is, you know, that’s, that’s up to you what you know, or what you, who you can partner with or whatever.

Charles:
So can you give us like an overview of what Infinite banking is? I think people have heard it a lot, and I think it, it’s something that’s marketed with many different names and kind of specialties depending on who they’re trying to attract.

Jim:
Yeah. So infinite banking, the way that most people explain infinite banking is during your lifetime, you’re gonna spend a lot of money on interest financing cards and credit cards and other debt. Some people say mortgages, but you know, I kind of would argue that too, just especially in the last few years where mortgage rates were, but if the average person pays 40% of their net income to interest, and, and, and we all know that the biggest reason for that is the mortgage, right? In the beginning, 85% or more goes towards interest. And so that’s why, and it’s volume of interest, not interest rate. So every dollar you earn 40 cents goes to interest. Well, so these, you know, people say you need to start financing your own cars and all this stuff. That’s not really what we do, Charles, with Infinite Banking, that’s kind of how it got its start.

Jim:
But what Nelson did is Nelson explained to me how he bought this airplane with some partners. Mm-Hmm, <affirmative>. And then when they weren’t using it, they leased it out and it was a cash flowing asset. And I said, oh, okay. That’s infinite. That’s what I got excited about with Infinite Banking, is I can put money in this insurance contract, this very specially designed insurance contract. It’s guaranteed to grow every single day, and I buy it from a mutual insurance company. So, and as mutual insurance companies are owned by policy holders, right, not shareholders and insurance companies are required to distribute the profits to the owners policy holders in the form of a dividend. So and so what happens is you have this money sitting in this account, and because you have that money and because you’re an owner, you have a contractual right to take an interest only loan at between four and 5%, even today of the insurance company’s money, your money never leaves that account.

Jim:
It’s in there guaranteed growing tax-free guaranteed every single day. The insurance company has to give you their money. They collateralize your account so that it’s safe for them. They are gonna charge you four or 5% and interest only. Right? So now you take the insurance company’s money, other people’s money, you have use and control of that, and you go buy assets or you go buy funds, or you go buy whatever is your specialty or who you’ve partnered with. And when those things earn money, you flow it back into the insurance contract and you rinse and repeat. So if it was real estate, I see this a lot with doctors. Doctors have, they don’t have time for real estate. So they partner with somebody, they, they’re a passive investor in a real estate fund or something like that. And as money comes back in, they don’t need it to buy their groceries.

Jim:
So they flow it back into another investment, another investment, another investment. They create what I call velocity of money, not like velocity in science, but velocity of money moving your money faster and faster and faster. So when you do that, buy these cash flowing assets, have this money pool, after a while your investments are paying your premiums, and after a while you put a dollar into the insurance contract and you have more than a dollar to go put into these investments. Then you have, now you have other people’s money, you have use and control, and you have leverage. ’cause If I can put in a dollar and have a dollar 50 to go put into the investment, I win. So then I just do that over and over and over again. So the, the insurance contract is never about the investment or the rate of return on the insurance contract. It’s about the rights as as an, as a policy holder or policy owner in the intrinsic value of the insurance contract. That’s what it becomes about. So

Charles:
When you’re speaking to professionals and I imagine business owners, this is, is this a strategy that is usually utilized by high income earners and entrepreneurs? I mean, who, who is your, I guess, your your target audience for this type of product?

Jim:
I believe everybody can do it at some level, right? And I’ve had people start with $20,000. I’ve had people start with millions of dollars because it is about banking. And so if you think about like how a bank works is you have a depositor, they go down and they deposit money in the bank, then that bank lend the money to a borrower, right? And then the borrower pays interest and then the bank pays the depositor as little interest as possible. You do the same kind of thing, right? And so if you started with 20,000 and you wanted to finance a vacation or pay off a credit card or a student loan or something like that, you could do it. If you, in business, when you look at the business cycle, most businesses use a bank, right? And they use a bank because they’re, they’re, they’re the money flowing in sometimes is seasonal and the money flowing out tends to not be as seasonal, more level.

Jim:
And the money coming in is up and down. So they use a bank and a line of credit. This is like using your own bank and using it for equipment and vehicles, and could be trucks, it could be anything else. And in Nelson Nash, his book, who’s kind of the godfather, this has always been around and wealthy people have always used this. Nelson really brought it down to the everyday person’s level. And Nelson gives an example of somebody financing their landscaping trucks. And over their career, they end up with $2 million more by financing those trucks themselves than if they would’ve financed it through the finance company. So anybody can do it. The more money you have, the more benefit I think you get and the more options you get. And if you’re a business owner and you’re borrowing money, then definitely you can benefit from it.

Charles:
So what I’ve read before on this, when doing my limited research, was that there’s usually some sort of time set time period between the time I open an account to the time that I can borrow against it. Can you just talk to more about how that works?

Jim:
Yeah. So the companies that, so there’s, you know, there’s a bunch of different mutual insurance companies out there. They’re all investing in the same thing. They all have the same reinsurance treaties or similar treaties and and they’re all working with the same numbers, right? The same mortality and everything else. So what we do is we look for companies that don’t let you quote season the money, like for a year or whatever. We literally can get people loans a week, two weeks after they deposit money in, in the account. So, you know, I don’t want them to wait. Some companies require you to wait a year to take a loan. I don’t wanna do that. You want your money moving, you know, motion is the law of God. If air, you know, errors gotta flow in and out of our bodies, blood has to flow through our bodies, money’s gotta flow.

Charles:
What do the costs usually associated with someone coming in to open one of these accounts and maintain it over several years?

Jim:
Yeah, so, you know, the costs are, it’s an insurance contract. So when you have two different components, you have the whole life policy, and then you have this rider called the paid up additions rider. The paid up additions is dollar for dollar. It’s always dollar for dollar. There’s literally in the, in the companies that we use, there’s literally no fees in that, right? It’s on the life insurance side. So let’s say 60% was going into the PUA and 40% is going into the whole life policy on that 40% in the very beginning, you have set up costs and underwriting costs and commissions and all of that in that first year. So that’s why Dave Ramsey and Susie Orman don’t like whole life insurance is because they look at that first year you put in a dollar and you have not much to use, right? In that first year, the second year, the, again, the companies we use the second year, it’s like 95% of what you put in.

Jim:
So if I put in a hundred grand, I have $95,000 and it’s only, I only have a little bit of a cash drag of five grand. The first year it might be I put in a hundred grand and I have like 60 or 65. But, and there are people out there that advocate to reduce, add a term rider, reduce the the base whole life policy down to 10 or 20% and have more that paid up additions, which is just dollar for dollar. But that’s a better way to start first, but that’s not the better way to finish first. Because what happens is that whole life policy, once it kind of gets up and running takes a couple of years, every dollar you put in there, you have more than a dollar to go use. Right? Right. Now if it’s just sitting there, like, like certain companies want you to sit it there and park it there for 20, 30, 40 years, then yeah, then you could say, I put in this amount of money, this is what it’s worth.

Jim:
That’s my rate of return. But if I’m taking it and using the insurance company’s money, then it’s whatever it’s returning in there, which is, you know, it’s small. It’s, it’s, it’s guaranteed it’s cash, it’s what I’m doing with their money. Mm-Hmm. <Affirmative>, that’s where the return is. You know, like if I take a hundred thousand dollars and I had 95 to use, and I take, and I give you the $95,000, and I say, Charles, go invest that money for me and you get me 20%. Well, I don’t care that the insurance contract got three or 3.6, I don’t really care about that. Right? I mean, three or 3.6, who caress, I got 20 on this side, or I got 12 on this side, or 10 or eight or whatever. It’s, so so then as that money comes back in and it’s going and it’s flowing, I have more and more and more and ever increasing money pool to go put money in the investment.

Jim:
But by year, like say year 10, okay, if I put in a dollar, I have a dollar 50 to go use. And that’s if I did no infinite banking, I just have the insurance contract. Well, so you, if if you wrote me, if I write, if you wrote me a check for a hundred grand and I turn around and wrote you one for 150, you’d be okay with that, right? And you’re gonna go invest it. By the way, if I made you that deal and that was the ratio, do you want that first check to be big? The one that you’re gonna write me? Do you want it to be big or small? No, I want that the

Charles:
One to write to you small.

Jim:
No, you want it to be big because I’m gonna write you a bigger one, right? <Laugh>, it’s gonna be 50% more. So you’re gonna be like, Hey Jim, could I write you a check for 10 million and then you write me one back for 15? Gotcha.

Jim:
So the way to look at this loan too, Charles, is kind of like, this is, if I would loan you today a hundred million dollars and your only obligation is one year from today, you gotta pay me from million dollars of interest, would you take the lump? Yes, absolutely. Right. Okay. So like, if you did that with me, I’m gonna take your a hundred million, I’m gonna go borrow 400 million from the seller or the bank, and I’m gonna buy a $500 million business. Okay? And now when I do that kind of investing, I want to get 25% cash on cash. So I, your 20, your a hundred million, I want a net after debt load, 25 million bucks. So I call you in a year and I say, Charles, I’ve got your I’ve got your check for $5 million of interest, right? And I’d like to, I’d like to drive over alligator alley and give you your check and take you to, to prime prime fish.

Jim:
Okay? And you say, Hey, I love that restaurant. So we go to dinner and I hand you your check and you say, Jim, do you wanna pay any principal? And I say, Nope. See you next year. Right? That’s the kind of loan that you’re getting from the insurance contract. You only obligation is to pay the interest at the end of the year. They don’t ask you what you’re doing with it. They can’t say no. They, you don’t have to even have an a payment, anything else. You just pay the interest at the end of the year.

Charles:
Interesting. Very good. Yeah. So what is the, what is the timeframe from the time that I want to access funds to the time that I can withdraw it?

Jim:
Couple days. Yeah. I mean, some companies, when I say that we can get things rushed, some companies are up to five business days. It just depends on what time of the year, as in around tax time. ’cause People use, you know, their insurance contracts to pay taxes, things like that.

Speaker 4:
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Charles:
And what happens when someone passes away with, depending if they have money that’s out already and they have these two different contracts. I mean, how does that work with, with your heirs?

Jim:
Yeah, it’s great. No, that’s a great question. Charles. is what happens is if they pass away and they’re say, let’s say they had a $3 million death benefit and they had a million dollar loan, right? So that loan is wiped out and their family would get $2 million tax free.

Charles:
Interesting. Okay. Wow. That’s very powerful. It’s, it’s interesting ’cause I’ve never gotten involved with infinite banking, but you know, with one of my brokerage accounts, I have it and it’s like, you know, we, you can pull money out and it’s literally like overnight. It’s a similar like strategy. And obviously there is no life insurance portion with that. And obviously you’re invested into, you know, depending on what you’re investing into, that can be not guaranteed, right? So there’s, you know, there’s different things for pula have different, you know, risk tolerances for where they’re putting their money to be able to access it at, you know, lower than what most people are gonna be able to access their funds at. But let’s talk about that for a second. So you’re saying that interest rates that you were, we were talking, you were throwing out like four or five, and I, I mean, what, what is it like a typical interest rate now and does it work with, is it like a sliding scale the more I take out, it’s just a little lower? How does that work?

Jim:
Yeah, so there’s, there’s two different types of loans and two different, really, there’s two insurance companies in the country that allow you to take either type of loan. There’s one called direct recognition, and it’s a fixed interest rate. So it’s 4% fixed, and, but it reduces your it reduces your dividend by point by 50 basis points. Okay. Or there’s a non-direct recognition loan, which is variable. So right now, and it’s only at 5.2% and it doesn’t affect your dividend. So depending on what the dividend is paying, what year you are in the insurance contract, all of those things go into factors are factored in to say, okay, if I, if I take the direct recognition or the non-direct recognition, which one is better? And, and so you can take, that’s the, that’s the range right now on, on loans.

Jim:
And you know, Nelson Nash, when he, when he kind of discovered this for himself, it was in 1980 and he was paying 23% on a half a million dollars, and he looked at his insurance contract and he could have, and he could take a loan for 8% at that time. Wow. And he was like, wait a minute, why would I have these loans with the bank when I could have a loan to the insurance contract company for eight? And he did it, and he took the loan and it saved his real estate portfolio.

Charles:
Wow. Yeah. That’s crazy. That is a huge savings in interest there. So you’re being around a lot of alternative investments. You are in the traditional realm, let’s say for many years. And now you’re more of a, I would say alternative investor. You work with a lot of alternative investors, because I imagine people that are taking money outta these accounts are not investing into stocks, mainly, I imagine it’s into businesses and or whatever they want, but I, I imagine it’s more alternative investments from the people I’ve spoken to that utilize this strategy. What are some common mistakes that maybe you’ve seen real estate investors make or any type of investor make before that maybe you’ve worked with that’s worked with in infinite banking?

Jim:
Yeah. The, the mistake that I see sometimes is people just, they don’t take loans. They just put the money in the insurance contract, and then they don’t, they don’t use it and go make those investments. So that’s probably the most common thing that happens, right? But then if they do go make those loans, they sometimes they don’t know who to partner with. And so they, you know, they, they, I’ve seen people make mistakes and partner with people they, they shouldn’t have partnered with, right? Or I see people take it and borrow it out for something and they don’t pay themselves back, or they don’t flow the money back in so they can use it over and over again. So they don’t get that velocity of money, get that money moving, or they don’t pay themselves a high enough interest. Those are probably the most common mistakes.

Jim:
And honestly, a lot of people make mistakes along the way, or, hey, I could have done that better, but that’s kind of a learning curve, just like anything else. But in alternative investments, like you said, like real estate, well, right now, a lot of people are like, well, real estate isn’t where to put, you know, I don’t wanna buy real estate. Well, and you know, there, maybe I don’t wanna buy certain types of real estate, maybe I don’t wanna finance multi-family, but, you know, RV parks, there’s you know, subject to, there’s like, there’s lots of things that you can be doing. But if you go back to the richest man in Babylon, one of the tenants is invest in what, you know. So if I’m a dentist and I lease my operatories, I think that’s what they’re called is is, you know, my, my TV screen and the equipment and the chair, normally they lease that for around 12% or so, maybe 15% now. And it’s, the volume of interest is much higher than that because they’re gonna do four or five year lease. So they might be paying 25% of every dollar that they’re paying goes to interest. Well, I’ll finance those if I’m the dentist and I’ll finance my building and I’ll finance the, you know, other things, the remodel, whatever. It’s, right. So there are things that you just naturally would use your own bank for.

Charles:
Yeah. That’s, that’s a great example. Yeah, that’s probably one of the most important investing strategies or thoughts, is just investing in what you understand. ’cause There’s so many people that I’ve spoken to before that have lost money in investments, and you know, when speaking to them, they don’t understand it. You don’t wanna put anybody on the spot. Right. But some people will say it, right. You know what I mean? But some people will, they’ll just, you just know they don’t know what they’re, what they’re investing into. And that is like yeah. A huge red flag. So for someone that sees your equipment every day, I love that. That’s great. Because that’s actually, you know, that’s, that’s a win-win for everybody.

Jim:
Yeah. So

Charles:
Over 35 years in the financial, personal, financial space I mean, how has your relationship towards money changed over those, those years?

Jim:
Yeah, you know, I mean, I used to, like I said, when I was poor and I didn’t have money, I was obsessed with it. And what I realized is the more that I was obsessed with it, the less that it flowed to me. Right. Now when I focus on serving other people and helping other people, that’s how I ended up with these businesses, because it would be, well, this person is having this problem or this problem. I’ve seen that before. You know, it’s like anything else. Once you’ve done it a few times, it’s like, oh, you have a, you know, you have a a one 12 problem. Yeah. You know, like you have, you know, you have, you know, this is the, there’s only so many problems. This is yours. Right? And so I realized that if I just help people, it’s kind of the old Zig Ziglar thing.

Jim:
If you help people, then you’re gonna get more than what you expect back. And all of a sudden, I just had money flowing to me. So my obsession with money became an obsession with freedom. And, and, and now I would tell you, money gives you choices. Choices give you freedom. And so what most people do, because they’re exchanging time for money, they, they equate money to their lives, and, and that’s how they measure their worth, right? We say, your net worth is x, right? Well, once you have your net worth to a certain point, it’s more like, what’s your impact? What’s your contribution? What’s your, and the more that you focus on impact and contribution and serving you, your net worth goes up and up and up. Way more than if you focus on, Hey, I gotta go make some money. Yeah.

Charles:
If you, when I, when I speak to people that are potentially new investors, and when you’re really talking to ’em if they’re gonna be active or passive, and it’s really the freedom. I mean, it’s al it’s, it always comes, you can always boil it down to getting to the freedom. It’s no one wants like a ton of money in their bank account. It’s really, I want the freedom, you know, and the autonomy to do what I want, all, you know, when I want all this kind of stuff. So it’s very, it’s very true. So one thing we didn’t talk about, Jim, that I thought it’d be kind of best to leave in your court, is that you have a new book. You sent me out a preview of it. A lot of interesting information in there. I I read some of the chapters some of the highlights, some of the chapters. So tell us about your book and tell us about you know, everything that you’ve put in there.

Jim:
Yeah. So here’s the, here’s a copy of the book. The pre it’s you know, make bank without the bank. And you know, the title, Charles, you know, when, when, when we’re especially, depends on where we’re from. That’s why I’m smiling, because, you know, depending on where you’re from, you’re slang for money could be a lot of different things, right? And I think it’s funny because depending on where you grew up, that’s, that’s what you call it. And so we would always say, man, I’m gonna make bank. You know, like and so, and, and so then with infinite banking, it was like, make bank without the bank. But it starts off and it, and it tells kind of a story of my childhood being poor. And I worked in this casket factory and I, 13 years old, I literally built the hardware for caskets.

Jim:
And there was a guy that owned it, Dwayne McIntyre. And I thought, man, you know, he just walks around. He is not here that much. I mean, what’s he doing? I mean, he’s the owner, shouldn’t he be running this business? And, you know, he had people running the business. I’m swinging a hammer all day long. And then one day I’m in Inglewood. I was like, thir again. I was like 13 that summer. And I’m walking down the street with a friend of mine. I look down and this guy’s pulling weeds, and I, wait a minute, that’s Dwayne McIntyre. You know, Mr. Mcintyre, what are you doing here? And he goes, oh, I own this house. So like, look, but I’d love to tell you, at 13 years old, this was like a light bulb going off for me, Charles. But it was like 20 years later, okay, I’m not, I I, I went to public school.

Jim:
I’m not that bright. I mean it was like, but 20 years later, it was like a light bulb went off. So in the book, I talk about everything I needed to know. I, I learned then, right? He was, you owned businesses, real estate, and it wasn’t in Palo Verdes where he lived. So in my book, I just tell the story about how I learned about money and that basically I grew up with nothing. So if I can do it, you can do it. And, and, and I just kind of talk about a little bit in the first couple chapters, my journey, and then I get into it and the book’s, 98 pages, I mean, it’s a quick read. I wanted it to be, you know, I’m not trying to tell everybody everything about money. I’m just trying to give you some things to think about and some concepts to like start your journey. And so that’s, that’s really what the book is about. And there’s an audible version that we kind of, we took away from David Goggins, where somebody else reads the, the chapter, and then they interview me afterwards. And and that was a lot of fun to put together too.

Charles:
Very cool. Very cool. Yeah, it’s interesting when you’re getting advice from older people when you’re younger and you don’t really know what to make of it. Not that you could’ve, you don’t really have any experience in the world, and then you look back on, you’re like, oh yeah, that’s person actually knew they’re doing this is exactly how it works. And that was really good advice. I just didn’t know what to do with that at that time.

Jim:
But thank goodness I got it right. I mean, like, sooner or later it’s like, people say, I wish I would’ve known about infinite banking when I was in my twenties. Yeah, me too. <Laugh>.

Charles:
So, so how can our listeners learn more about you get your book and get in touch with you for your business?

Jim:
Yeah, so go create tailwind.com is our website. You could email me Jim Oliver at Create Tailwind all one word.com, or you can go to community dot create tailwind.com or go on the Apple Store or Android store and just search, create Tailwind, all one word. We have a community that has, it’s got free courses on there. You can learn everything that you would want to know about infinite banking. And one of the things that I’d like to do, Charles, is if anybody reaches out to me directly and they, and they say they heard me on your show, I’d love to send you a copy of, I’ll give you your choice, either my book or Nelson Nash’s book on how to become your own bank. Great.

Charles:
Well, thank you so much. And I, I bet some of our listeners will take you up on that. So thanks so much for coming on today, Jim, and letting us know about infinite Banking and looking forward to connecting with you here in the near future.

Jim:
Thank you, Charles. Thanks for having me. And thank you audience.

Charles:
Hi guys! It’s Charles from the Global Investors Podcast. I hope you enjoyed the show. If you’re interested in get involved with real estate, but you don’t know where to begin, set up a free 30 minute strategy call with me at schedulecharles.com. That’s schedulecharles.com. Thank you.

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About Jim Oliver

Jim Oliver is the world’s foremost authority on the Infinite Banking Concept (IBC), and has dedicated his career to breaking the financial shackles that bind people and businesses to unnecessary taxes and interest expenses. Jim spent 12 years under the tutelage of the late Nelson Nash, the pioneer of IBC, and now spreads the message of IBC through his firm CreateTailwind, his podcast Breakaway Wealth, and speaking engagements across the United States.

Jim’s fascination with wealth began as a young boy growing up in the foster system in inner-city Los Angeles. While this was a difficult upbringing, the benefit of spending his youth as a member of the “have nots” was that it provided Jim with a great appreciation and respect for money, and a strong desire to learn how to acquire and retain it. Jim’s journey began when he worked at a casket factory at age 13. Seeing the owner of the business’s success and lifestyle motivated Jim to learn what the owner knew that Jim and the people in his neighborhood did not. This has been a passion his entire life.

Jim’s journey to IBC began in 1988 when he founded Creative Financial Services in Denver, CO. His firm ultimately grew to over 50 employees and $700M under management. And, in parallel Jim was an instructor at American College helping others attain certifications in CLU, CHFC, and CFP. However, a realization that the traditional path in personal financial management was not leading to the desired result for most people compelled him to exit that business and restart with a focus on IBC. In 2007 Jim started Createtailwind in Dakota Dunes, SD with an emphasis on IBC. CreateTailwind Is a national firm and brand that serves clients in all 50 states Createtailwind meets with their clients almost 100% virtually.

Jim not only teaches Infinite Banking Concept he uses it as well. He has started or bought over 30 different businesses using IBC including a logistics company, a refurbishment company, a computer manufacturer as well as a mining company to name a few.

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