Understanding The Infinite Banking Concept

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 […] The post The Cost of Acquisition – BYOB #34 appeared first on Life Success Legacy.

In this episode Mike and Chris talk in depth about Nelson’s feelings surrounding ‘retirement’. As we all know, Nelson had very strong opinions about several things in life, and this is no different. Take a listen to this longer-than-normal episode to learn what Mike and Chris take away from this chapter, and how it applies […] The post The Retirement Trap – BYOB#33 appeared first on Life Success Legacy.

In this episode Mike and Chris dig into the capitalizing and implementing your system chapter. This is a transitional chapter from the more foundational and technical aspects of Infinite Banking into application and ways to stimulate your imagination. While this is only a one page chapter, there are several important things to consider. Nelson is […] The post Capitalizing Your System and Implementation – BYOB #32 appeared first on Life Success Legacy.

In the last episode, Mike and Chris wrapped up the equipment financing section… almost. There were some that had concerns over the very high dividend scale from when the book was originally published. So Nelson decided to present a new illustration representing a more conservative dividend scale. Listen to see how the numbers turned out. […] The post Equipment Financing – Addendum – BYOB #31 appeared first on Life Success Legacy.

In this fourth and final episode of the equipment financing section, Mike and Chris unpack the big picture of this section. It’s long, but 100% worth it. Remember it’s the Infinite Banking Concept, not the one size fits all concept. If you grasp this section, the possibilities are endless! Enjoy! The post Equipment Financing – Part 4 – BYOB #30 appeared first on Life Success Legacy.

Mike and Chris continue working through the equipment financing section of Neslon’s Becoming Your Own Banker. This portion is where you truly begin to see the power of Infinite Banking and how it has nothing to do with the insurance policy, but has everything to do with the owner of the policy. If you’re hung […] The post Equipment Financing – Part 3 – BYOB #29 appeared first on Life Success Legacy.

In this episode, Mike and Chris go deeper into the equipment financing chapter of the book. Which is beginning to transition away from the individual application of Infinite Banking into strategies suited for businesses. Join as Mike and Chris unpack this complex section of Nelson’s book. The post Equipment Financing – Part 2 – BYOB#28 appeared first on Life Success Legacy.

In this very special episode, Mike Crawford interviews author Chris Bay about his new book, ‘Family Banking with Purpose.’ In his book, Chris uses relatable circumstances that we have all been through. These scenarios can be used to help families implement Infinite Banking in their lives and create financial freedom. Pick up a Kindle copy […] The post Family Banking with Purpose: An interview with Author Chris Bay appeared first on Life Success Legacy.

Mike and Chris are settling in for this multi-part podcast on Equipment Financing. For those of you who wanted numbers, here it is. This chapter really starts unfolding the benefits of using Infinite Banking by providing multiple examples of the same situation. This episode is foundational, you may want to listen twice! The post Equipment Financing – Part 1 – BYOB #27 appeared first on Life Success Legacy.

In this episode, Mike and Chris go into one of Nelson’s most intriguing chapters and, for that matter, opening sentences of a chapter. If you’re a veteran follower of the Infinite Banking Concept, you know what it is. For those who are new, you’ll have to listen to find out! The post Expanding the System to Accomodate all Income – BYOB #26 appeared first on Life Success Legacy.

In this #tbt podcast that originally aired March of 2018, the reigns are taken from Chris Bay and handed to Michael Crawford! We drill down into how Chris and his family got started, where they had taken IBC up to that point and more! Take a listen and see where Chris was three years ago […] The post Interview with Chris Bay appeared first on Life Success Legacy.

Mike and Chris work through the second half of this awesome chapter by going in to depth on Nelson’s vehicle purchase example. They drill down into the C/D method and the Infinite Banking method, since they are the only two ways to be ahead in the scenario. What might surprise you is the difference financially. The post Start Building Your Own Banking System – Part 2 – BYOB #25 appeared first on Life Success Legacy.

In this episode, Mike and Chris dive into Nelsons chapter titled ‘How to Start Building Your Own Banking System.’ Part of Nelson’s brilliance is how he can bring high level economics down to the you and me level. This chapter is no different. He compares five methods for purchasing a vehicle, something we’ve all done. […] The post Start Building Your Own Banking System – BYOB #24 appeared first on Life Success Legacy.

In the wrap up of the Create the Entity section, Mike and Chris discuss Universal and Variable Life in relationship to Infinite Banking. They talk about how Nelson felt about those products and the reasons why he had those opinions. Enjoy! The post Create the Entity – Part 4 BYOB #23 appeared first on Life Success Legacy.

In the third part of Creating the Entity, Mike and Chris expand upon Nelson’s idea of having multiple policies to accomplish the long term goals of Infinite Banking. They also reiterate how Whole Life Insurance is misclassified. Pay close attention to this one. The principles are integral into the success of Infinite Banking and center […] The post Creating the Entity – Part 3 appeared first on Life Success Legacy.

Chris interviews Mike Everett in the first of our team interviews. We cover the gamut and think you’ll enjoy this #tbt post! Mike Everett Interview. Transcript Chris Bay: Welcome to the Life Success Legacy Podcast. My name is Chris Bay and I’m joined today with the founder of Life Success & Legacy, Mike Everett. Chris […] The post Interview with Mike Everett appeared first on Life Success Legacy.

Mike and Chris pick up right where they left off and continue to the ins and outs of creating the entity. Nelson spends time explaining the classification of Whole Life, which he contends should have been called a ‘banking system with a death benefit thrown in for good measure’. Remember, we used to think that […] The post Creating the Entity Part 2 – BYOB #21 appeared first on Life Success Legacy.

This next section will be a multi-part podcast on the idea of Creating the Entity. Mike and Chris take a dive into the world of Life Insurance Actuaries… yeah, we know you’re riveted. However, this is critical to understand, if we are to understand Whole Life Insurance, and how it is the best tool for […] The post Creating the Entity – Part 1 BYOB #20 appeared first on Life Success Legacy.

In this #tbt podcast we review the question that we get all the time; is Infinite Banking a scam. The original podcast was released in February of 2018, and honestly, the question probably gets asked more now than back then. We all get so caught up into our current way of thinking, that when something […] The post Is IBC A Scam? appeared first on Life Success Legacy.

This week would have been Nelson Nash’s 90th birthday and in this episode Mike and Chris pay homage to the man that impacted their lives so much. In fact, we know he left his mark on thousands of people. We hope you enjoy this short tribute. The post Happy Birthday Nelson appeared first on Life Success Legacy.