BYOB Book Review Part 8 | The Entity in Becoming Your Own Banker by Nelson Nash

Jul 11, 2023

51:38

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Episode notes

If you're going to be a banker, you must have a bank. But what sort of bank should you set up? In this episode, Russ and Joey discuss the different insurance policies, how they are structured, and which one you must choose if you want to implement IBC. It is not enough that you put your money into whatever type of policy your agent tells you. Take action and educate yourself so you can avoid losing your money to things you don't understand.

In response to the requests to bring back the BYOB series, Russ and Joey continue their book review and discuss which policy is suitable for setting up your own bank.

This episode is Part 8 of an 18-Part Series.

Top 3 Things You’ll Learn:

The different types of insurance policies
Which is more expensive - term life policy or whole life policy?
The importance of making sure your policy is set up the correct way if you're going to use it for IBC

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.

Wealth Without Wall Street Episode 19 - Dave Ramsey is WRONG:

https://www.wealthwithoutwallstreet.com/podcast/dave-ramsey-is-wrong

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:

https://www.wealthwithoutwallstreet.com/community

Free Financial Strategy Call:

https://www.wealthwithoutwallstreet.com/freecall