How to Set Up a Banking Function

"I didn't even know it was life insurance. In fact, I would go to show you," he says. "We've acquired things in our day that we thought we were doing a good thing and turns out it wasn't perfect." He then explains why this policy would be ideal for the customer.

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Becoming your own banker seems like an incredible concept. But when you understand and implement it correctly, you will regain control over your money and recoup cash flow that would otherwise be lost if you were to put your money in traditional retirement accounts and other banks.

Today, Russ and Joey continue their conversation around this concept and dive deep into the topic of creating your own banking system through life insurance. This episode will give you more information if you're still trying to wrap your head around the Infinite Banking Concept, so listen up!

In response to the requests to bring back the BYOB series, Russ and Joey continue their book review and discuss how you can create your own banking system.

This episode is Part 6 of an 18-Part Series.

Top 3 Things You’ll Learn:

Understanding the design of your policy
If you know what's going on, you'll know what to do.
Where to put your money and how to set up your banking system

About R. Nelson Nash:

R. Nelson Nash (1931 - 2019) wrote the book Becoming Your Own Banker that unfolded The Infinite Banking Concept (IBC). He came up with the idea of IBC in the early 1980s when he was struggling with high-interest rates on commercial bank loans. Today, many people continue to benefit from using IBC as a tool to achieve financial freedom.

Disclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.

This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.

The hosts may have a financial interest in the programs or services mentioned in this episode.

Becoming Your Own Banker by R. Nelson Nash:

https://www.wealthwithoutwallstreet.com/ibcbook

IBC Example: True Cost of Paying Cash vs. Using a Whole Life Policy:

https://www.youtube.com/watch?v=h4rugVZkajc

Join the Community:

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https://www.wealthwithoutwallstreet.com/freecall

Turn Active Income Into Passive Income:

https://www.wealthwithoutwallstreet.com/PIOS