Esther Trattner

Sep 25, 2024 | money.ca | Sandy Yong |Esther Trattner |Nicholas Sokic |Lou Carlozo

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Jul 22, 2024 | money.ca | Cory Santos |Esther Trattner |Vishesh Raisinghani |David Saric

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Jul 22, 2024 | money.ca | Esther Trattner |Vishesh Raisinghani |David Saric |Daniel McIntosh |Daniel Mcintosh

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Oct 12, 2023 | moneywise.com | Esther Trattner |Bethan Moorcraft |Sarah Brady

What is infinite banking? As Ramsey and his caller discussed, the infinite banking concept (IBC) involves using a cash value life insurance policy, such as whole life or universal life, as a source for borrowing money that cuts ties with the banking system. To follow this concept, a policyholder borrows money against their policy instead of from a bank. The loan, an advance on the policy's death benefit, is then paid back with interest and potential tax penalties. Is infinite banking a scam?

Jul 20, 2023 | moneywise.com | Esther Trattner |Cadeem Lalor

Here's our no-stress guide to filing your taxes - and getting it right - if you've never done it before. Understanding taxes Your income tax is a portion of your earnings that must be paid to the federal government under the 16th Amendment to the Constitution. Your state likely requires you to pay income tax too, though a few states don't. Income taxes are used to fund government programs and services, including the U.S. military, law enforcement, education, health care and Social Security.