In this episode, Mike and Chris go over another very popular Boot Camp question; Where are the risks? Often times, when people begin exploring Infinite Banking, it seems ‘too good to be true’ at times. Thus, the question of risk immediately pops into our head! Take a listen to what Mike and Chris have to say about this. You’ll even get to hear a personal story from Mike about the early days of his plan!
In this episode, Mike and Chris tackle another very common boot camp question. This one deals with multiple aspects of Infinite Banking, namely think long term. Because in order to see the benefits of franchising, you have to think beyond the first policy. Listen and let us know how you have or plan to implement franchising in your IBC journey!
In this episode, we tackle another boot camp question that comes up all the time, and has for years. Why isn’t Infinite Banking more popular, or why aren’t more people doing this? A few years ago, we addressed this question and now Mike and Chris are back to update our listeners. (Spoiler, the answers are similar to before!) Take a listen either way though, we think you’ll be able to wax intellectual with your coworkers around the water cooler after you do.
As we embark on the next phase of the LSL podcast, we shift from Nelson’s Becoming Your Own Banker and begin diving deeper into questions that we get repeatedly at our live or virtual boot camps. The first one is how to get started! Becuase Infinite Banking is so vastly different than what we’ve been taught about how to manage our finances, it can feel like an impossible feat to get things going. Mike and Chris go into the steps we send our clients through. Take a listen and join us on the adventure!
Our two year adventure of walking through Nelson Nash’s Becoming Your Own Banker is at an end. In this episode, Mike, Chris and Mike C go over the journey and talk a little about the books that have inspired them along their IBC journey! Below is a list of the books we mentioned! (in no particular order)
Here are the list of Books we mentioned (no paticular order):
- The Case for IBC – Neslon Nash, Carlos Lara, Robert Murphy
- Building Your Warehouse of Wealth – Neslon Nash
- Why the Rich are Getting Richer – Robert Kiyosaki
- Rich Dad Poor Dad – Robert Kiyosaki
- The Millionaire Next Door – Thomas Stanley
- Confessions of a CPA – Bryan Bloom
- What would the Rockefellers Do? – Garrett Gunderson
- Busting the Life Insurance Lies – Kim Butler
- Busting the Retirement Lies – Kim Butler
- Live Your Life Insurance – Kim Butler
- The Wealthy Family – Chase Chandler
- The Tuttle Twins – Connor Boyack
- Rich Tactic Poor Tactic – Rich Clouse
- The Fair Tax Book – Neal Boortz
- Economics in One Lesson – Henry Haslitt
- What has Government done with Our Money? – Murray Rothbard
- The & Asset – Caleb Gilliams
- Farming Without the Bank – Mary Jo Irmen
- Family Banking with Purpose – Chris Bay
- The Go-Giver – Bob Burg
As we near the end of our book walk through Nelson’s Becoming Your Own Banker, Mike and Chris review the Points to Consider. There are seven topics that, in one page, Nelson imparts his wisdom. Listen as Mike and Chris expand upon this wisdom with a bit of their own!
In this episode Mike and Chris dive into Nelson’s viewpoints on the monetary value of college. This isn’t a chapter that we spend a lot of time on, but it is a valuable chapter. Like most of Nelson’s book, this topic is intended to make you stretch your thinking and challenge the ‘status quo’. We think you’ll enjoy!
In this episode Mike and Chris discuss an extremely important chapter, not only to Nelson, but to them as well. This chapter is where the inspiration for Chris Bay’s book Family Banking with Purpose came from. Take a listen to hear how it has shaped their Infinite Banking journey and how they have used this chapter to continue educating the next generation Grab a copy of Chris’ book here!
In this episode Mike & Chris tackle one of the biggest hurdles to many people truly understanding Infinite Banking; rates of return. In fact, Chris discusses his own struggles with this prior to his family diving into IBC. We believe that when this chapter begins to make sense, you are well on your way to changing your financial future through Infinite Banking.
In this episode, Mike and Chris dive into the Cost of Acquisition. Nelson uses the anecdote from Lee Iacocca’s book ‘IACOCCA’ to explain how difficult, and costly, it can be to play the games of banks. This paints a perfect picture of why Infinite Banking provides ultimate autonomy to YOU the policy owner. Why you ask? Because with Infinite Banking, you are the only decision maker, there is no cost of acquisition.