Imagine you're married and own a grocery store. Where would your spouse and children shop–your store or somebody else's? Your store, of course! But which door would they choose to come out? Would they go out the back door, avoiding the cashier, or would they go out the front door and pay for the groceries like the rest of your customers? Your answer in this hypothetical scenario is critical to what happens to your business.
In this episode, Russ and Joey use the same grocery store scenario to answer, “Why should I pay interest to borrow my own money?” Tune in to this eye-opening discussion.
This episode is Part 3 of an 18-Part Series.
Top 3 Things You’ll Learn:
- Think long-range.
- Don't be afraid to capitalize.
- When you use the money, don't steal it. Put the money back.
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
Free Financial Strategy Call:
https://www.wealthwithoutwallstreet.com/freecall
Turn Active Income Into Passive Income:
https://www.wealthwithoutwallstreet.com/PIOS
Take the Financial Freedom Analyzer:
https://wealthwithoutwallstreet.com/quiz
Discover Your Path to Financial Freedom:
https://www.wealthwithoutwallstreet.com/passport
Apply to Join the Passive Income Mastermind:
https://www.wealthwithoutwallstreet.com/wwws-passive-income-mastermind
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The Wealth Without Wall Street Podcast