BYOB Book Review Part 7 | Human Problems in Becoming Your Own Banker by Nelson Nash
Play • 46 min

A wise person makes his money work instead of him trading his time to earn money. But before putting your money to work, you need a place to accumulate it. Instead of putting it in banks, why not put it in whole life insurance policies and become your own bank? 

Today, Russ and Joey explore the human problems of becoming your own banker. Get ready to learn about Parkinson’s Law, Willie Sutton Law, The Golden Rule, The Arrival Syndrome, and Use It or Lose It. Understanding these principles will give you a deeper understanding of how you can better use your money and establish your financial system.


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 7 of an 18-Part Series. 



Top 3 Things You’ll Learn:

  1. A luxury once enjoyed becomes a necessity.
  2. Money should be used to make more money.
  3. Infinite Banking is not a product - it's a way of life.


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. 



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


The Richest Man in Babylon by George S. Clason:

https://www.amazon.com/Richest-Man-Babylon-George-Clason/dp/1505339111


Wealth Without Wall Street Episode 61 - Look Up…The Tax Train is Coming!:

https://www.wealthwithoutwallstreet.com/podcast/look-up-the-tax-train-is-coming


SECURE 2.0 Act:

https://www.finance.senate.gov/imo/media/doc/Secure%202.0_Section%20by%20Section%20Summary%2012-19-22%20FINAL.pdf


FAKE by Robert Kiyosaki:

https://experts.richdadworld.com/assets/files/rd_fake_0519.pdf


Join the Community:

https://www.wealthwithoutwallstreet.com/community


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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