The Problem in “Becoming Your Own Banker” by Nelson Nash— Book Review Part 4

The Pursuit of Optimal Health with Tom Nikkola

What This Episode Is About By now, most of us are aware of how much misinformation exists on wealth creation. But what about the information we hear about other parts of our life, like our health? How can you cut through the noise and adopt a healthier lifestyle that you can sustain? Which core fundamentals…

Why Should I Pay Interest to Borrow My Own Money? in "Becoming Your Own Banker" by Nelson Nash- Book Review Part 3

No matter what your business specializes in, you should be applying the example Nelson Nash gives of the grocery store. If you understand the grocery store, then learning how to Become Your Own banker is a piece of cake. Is there an easy application? On this episode, we’re unpacking pages 15-16 of Becoming Your Own Banker and why you should be paying interest to borrow your own money. Mentioned In This Episode: Nothing happens overnight. Don’t get caught up in how long it takes to turn a profit Stock your shelves with life insurance policies Treat your finances like a business

Will There Be a Recession Soon? An Economist Discussion on What to Look for and How IBC Is a Great Solution to Weather the Storm w/Dr. Bob Murphy

For years, we’ve seen a steady rise in the markets. While this is favorable in the present moment, we have to consider when we’ll see an inevitable crash. What are some of the indicators that a recession is imminent? Where should you invest in preparation for a possible crash? On this episode, author and economist Dr. Bob Murphy shares his predictions and advice. Mentioned In This Episode: Why you should be wary of a boom period The relevance of the inverted yield curve Where you should be investing ahead of a recession

Dr. Bob Murphy

Throw Out Your Will and Start Over with an Entrusted Plan w/Andrew Howell

Modern estate planning is inherently outdated. How can you find an effective way to plan your estate, that works in our current market and society? How do you assist your family after you graduate from this life- without passing on unharnessed wealth? On this episode, Managing Partner and co-founding attorney at York Howell & Guymon, Andrew Howell is here to share how you can plan your estate efficiently. Mentioned In This Episode: The dangers of unharnessed wealth The importance of having core values as a family Why you need to allow for your children’s individuality

Andrew Howell

How to Build a Strategy to Pass Down Information and Assets to Your Family w/Aaron Chapman

We’re often told that we should make provisions for our families after we die, but most of us start this process too late. When is the ideal time to plan your family’s financial future? How should you go about this process, and what are some important things to know? On this episode, Aaron Chapman returns to the show to discuss how you can pass down wealth to your family for generations to come. Mentioned In This Episode: Why your family should have a plan if something were to happen to you How to get your kids involved in handling some of your affairs now so that they’re prepared The importance of a ‘bloodline trust’, and what it means for your legacy

Aaron Chapman

The Role of Imagination in “Becoming Your Own Banker” by Nelson Nash— Book Review Part 2

Too many people are stuck in the cadence of life and have shut off their imagination, acting as mere robots. When you think of the most successful people you know, how many of them lack imagination? How can you tap back into your imaginative abilities after years of suppressing or ignoring them? If you could only spend the money that was produced by a pool of money you managed how well would you live? On this episode, we’re reflecting on page 14 of Nelson Nash’s Becoming Your Own Banker. Mentioned In This Episode: The importance of utilizing your imagination, and the cost for not having it Why you need to carve out time to think How to break out of the cycle and gain a new perspective with your money

The Disciplines Required for Becoming Your Own Banker by Nelson Nash— Book Review Part 1

Though we’ve received so much inspiration from Nelson Nash, we’ve never given a review of his book, Becoming Your Own Banker— until now! Why is it so important to become your own banker? How can you go about creating your own wealth? On this episode, we discuss Nelson Nash’s legendary book and the powerful concepts it presents. Mentioned In This Episode: Why you must understand how banks work, and remain hands-on with your money The power of cash flow, and how it can allow you to be your own banker Why seeking a coach will help you on your financial journey

The Holy Grail: The Art of Creating a Passive Business w/Justin Harris

A lot of us are excited to generate passive income and build businesses off of that desire. What happens when you actually start your business? How can you give yourself freedom while growing your business? When and how does the income become ‘passive’? On this episode, we’re speaking with business operations guru, Justin Harris. If you’re a business owner, or thinking of becoming one, you don’t want to miss this episode! Mentioned In This Episode: Why you have to clarify what you want out of your business The importance of understanding the problem your business is trying to solve How to build a business that frees you, rather than burdens you

Justin Harris

Creating Income In Retirement Through Reverse Mortgages w/David Karcher

People in their 40s and 50s are sometimes referred to as the ‘sandwich’ generation— caught between supporting their children and their elderly parents. What can you and your parents do today to ensure they are financially sound in their retirement? Are solutions like ‘reverse mortgages’ too good to be true? On this episode, we’re joined by David Karcher, a mortgage banker at FirstBank. David is here to explain what reverse mortgages entail, and how they could benefit your parents and yourself. Mentioned In This Episode: Why you should encourage your parents to consider a reverse mortgage in their retirement Reasons to set up a reverse line of credit What the “due and payable clause” actually means for a homeowner or their heirs

David Karcher

Leaving a Legacy: In Memory of Nelson Nash

Last week, the legendary creator of the Infinite Banking Concept, Nelson Nash, passed away at the age of 88. His life was full of experiences where he focused his time thinking, learning, and teaching. What lessons did we learn from him? What can we do to ensure we live our lives as successfully as he did? On this episode, we share some of our favorite memories of Mr. Nelson Nash.

Why Managing Retirement from an Investment Portfolio Is Inefficient w/Wade Pfau

In the 1990s, the ‘4% rule’ promised to keep people afloat during a 30-year retirement, but now things have changed considerably. Why is the 4% rule less relevant now? What are the alternatives you can use today? On this episode, author and Professor of Retirement Income, Wade Pfau, shares why we should rethink the 4% rule and some other retirement strategies we’ve grown accustomed to. Mentioned In This Episode: Why we need to rethink traditional retirement planning methods Better tools for retirement income Why your investment advisor isn’t happy about this new information

Wade Pfau

Think Like an Investor w/Aaron Chapman

When it comes to buying investment properties, what should we be thinking about and prioritizing? Who should we have in our corner assisting the transaction? How can we apply the concept of learning from mistakes to our business? On this episode, we talk with Aaron Chapman, an investment mortgage veteran, to get his advice on how to approach opportunities in property investment. Mentioned In This Episode: The people and tools you need to be successful with property investment Why investing in real estate is more like moving money than spending it Why shifting away from traditional banking will protect you from Wall Street— and your own habits * The importance of having the mindset of a business owner

Aaron Chapman

Opportunity Zones Unmasked

The quest for financial freedom is a complicated one, especially when so-called “incentives” threaten to undermine your control of your own money. How can you be sure you’re not falling into a trap? What can you do to identify schemes aimed at using your money to make someone else richer? On this episode, we discuss how easy it is to be bamboozled and how you can keep it from happening to you. Mentioned In This Episode: Beware of government-created plans For any investment, always consider who the owner is Pay attention to the language of the offer or contract * Wherever you decide to invest, make sure you are always the one in control of your money

Equity in a House vs. Equity In An Infinite Banking Policy

One of the biggest questions people have about building wealth is how they can go about creating equity with a house. Is it a wise strategy to build equity by making extra payments to the bank? How can you employ a life insurance policy to get the best of both worlds? What are the differences between building equity in a house through a bank vs. using the Infinite Banking policy? Mentioned In This Episode: How to reduce the risk of payments to the bank The downsides of a home equity line How to effectively build equity with an IBC policy * Why the key to building wealth is a different perspective How Joey is applying the equity concept to running 100% of his income and expenses through his policies!

An Entrepreneur’s Journey with Infinite Banking w/Genny Williams

Every entrepreneur knows that no matter how many sales we’re making, there will always be bills to pay. This is a huge challenge when money isn’t flowing in. How can Infinite Banking help if you find yourself in that position? Why should you intentionally have a system to manage the ups and downs of cash flow? On this episode we’re joined by Genny Williams, a top-producing agent, broker, and owner of X-tra Living at eXp Realty in Birmingham. Genny shares how implementing Infinite Banking has positively impacted her business and her life. Mentioned In This Episode: The importance of taking care of your business and employees How your Infinite Banking accounts can keep you from reckless spending Why you shouldn’t only focus on your business * Making financial decisions that will increase our freedom

Genny Williams

A Conversation with The Top Minds in the Infinite Banking Community

We hear about the success stories of those using the Infinite Banking Concept, but often forget that the people behind the success are very much like us. Did they ever have the doubts we may be having now? Do they have any regrets that we could learn from? On this episode, we speak to a range of IBC minds who have found major success and want to inspire you to do the same. Mentioned In This Episode: Why you should start as soon as possible The reasons to “go big” (or as big as you can) * The importance of life policies for your kids How IBC can be utilized without high risk

Leverage the Power of Community

A sense of community is a powerful force in bringing people together. Whether through family, friends, church, or something else, most people have some sort of personal community that they are a part of. How can we use the same spirit of community to our advantage in our business? On this episode, we discuss how you can apply community values to your business network. Mentioned In This Episode: How to introduce yourself and become a part of a community * The first step you can take towards surrounding yourself with likeminded people who can support your endeavors * How to respond to new people in your community * The importance of finding an accountability partner

Invest In Your Business: Best Practices for Attending Events & Masterminds w/Jason Will

One thing that makes a huge difference both in business and our personal lives is our willingness to commit to lifelong learning and self-improvement. Why is it important to attend live events? How do we make sure we’re getting the most out of our event attendance? How do we avoid getting overwhelmed by all the information? On this episode, Jason Will shared how he went from being ego-driven to learning-based, and why he invests so heavily in events and personal development. Mentioned In This Episode: Why entrepreneurs (mistakenly) avoid events How to invest in self-improvement, even at a low cost * Why continued learning is so important for success Why we get more out of events when we pay for them * The importance of humbling ourselves to receive new information * Why we should aim to come away with one solid concept or process that can change our lives.

Jason Will

Using IBC to Build a Real Estate Empire w/Mike Kelley

Once your life insurance policies have been set up, it’s still important to maximize the use of your money in other ways. How can you use property management as a vehicle for financial freedom? How can we build a system that can be scaled, allowing us to stop trading time for money? On this episode, we talk with Mike Kelley who shares how he is building a real estate empire and the systems he has put in place to make it happen. Mentioned In This Episode: The necessity of specialized knowledge The difference between being busy with a purpose and being distracted How to move from employee to owner/investor Why we must do our due diligence with tenants * How to invest in a way that brings in stability and predictability of income * The importance of hiring someone to take on the tasks we’re doing so we’re not trading time for money * How to move into true investor status

Mike Kelley