Episode 44: Investment Friday - How Does Social Security Work, and Is Infinite Banking A Good Idea?


Episode 44: Investment Friday - How Does Social Security Work, and Is Infinite Banking A Good Idea?


In this episode, Hannah Chapman, CFP, APMA, CRPC, explores two very intriguing topics that were inspired by her listeners. First, a discussion about the Social Security mechanics that are causing many to worry about a future deficit. Then, Hannah explains infinite banking through whole life term insurance, and helps you understand if it's right for you.

Tune in to learn more:

  • What employees, employers, and business owners contribute to Social Security

  • How much money Social Security is taking in vs paying out

  • What is the Social Security trust fund?

  • What happens if you take SS out while you are working

  • Defining “infinite banking”

  • The differences between whole and term life insurance policies

  • A unique aspect of whole life insurance that allows you to loan yourself money

  • Pros and cons of infinite banking

Link to SSA document that was referenced in the show: https://www.ssa.gov/policy/trust-funds-summary.html#:~:text=Sources%20of%20Trust%20Fund%20Income,2023%2C%20which%20their%20employers%20match.

We want your questions! Please send them to [email protected] and we will discuss them in our next episode

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X² Wealth Planning Website: https://x2wealthplanning.com/

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