Understanding The Infinite Banking Concept

In this #tbt podcast, Mike and Chris dive into something we hear all the time, that whole life insurance is a bad place to store your money. In fact, I bet you’ve either said it yourself, or heard someone make the claim. However, this is the absolute brilliance of Nelson Nash and his Infinite Banking […] The post Whole Life Insurance is bad, right? appeared first on Life Success Legacy.

Nelson wrapped up the Human Problems section with a one page chapter on the topic of Use It or Lose It. Mike and Chris venture down into the main principle, EVA, or Economic Value Added. Which is the “recognition of the fact that your own capital has a cost, as well as that which has […] The post Use It or Lose It – BYOB#19 appeared first on Life Success Legacy.

This weeks #tbt podcast was originally released January 4th, 2018. The sustainability of Infinite Banking has very little to do with the concept itself, but is a question about the insurance industry itself. I believe this question is rooted in the uncertainty of the federal reserve and our monetary system, and as a result, we […] The post Is Infinite Banking Sustainable appeared first on Life Success Legacy.

Nelson states, “This phenomenon probable limited the achievements of mankind more than anything else. When this ‘thing’ infects us, we stop growing, stop learning. We turn off or tune out the ability to receive inspiration — because we ‘already know all there is to know.'” If that doesn’t make you stop and ponder for a […] The post The Arrival Syndrome – BYOB #18 appeared first on Life Success Legacy.

In this #tbt post, Mike and Chris talk through a question we get all the time. Is Infinite Banking too good to be true? Honestly it’s a question most of us have asked too! Take a listen to this podcast, and we feel you will be pleasantly surprised that our goal is not to ‘prove’ […] The post Is IBC Too Good To Be True? appeared first on Life Success Legacy.

In this #tbt episode Mike and Chris break down the reasons so many of us have never heard of Infinite Banking. Mike separates it into three main points: 1. Nelson didn’t write Becoming Your Own Banker until 2000. 2. There aren’t enough IBC practitioners. 3. Third, it takes time and energy to educate yourself about […] The post Why haven’t I heard about Infinite Banking? appeared first on Life Success Legacy.

“Those who have the gold make the rules” – Nelson Nash. This episode of our book walk through Becoming Your Own Banker continues to reveal more truths about money. Mike and Chris unwrap The Golden Rule principle, and wow is there a lot to unpack. We think you’ll like this episode, but be prepared, it […] The post The Golden Rule – BYOB #17 appeared first on Life Success Legacy.

In this #tbt we wrap up the Policy Design discussion by going into the details of what Nelson discovered. So many of us buy life insurance for just the death benefit and never think of the possibilities that lie within that contract. Mike continues to challenge us and asks which is more important to you […] The post IBC Policy Design Part 2 appeared first on Life Success Legacy.

In this weeks #tbt, Mike and Chris go into more details about the types of life insurance, why most people buy life insurance, and how Nelson, through his own struggles, came to realize the true power of whole life insurance. This part 1 of policy design does really give context to how Infinite Banking works […] The post IBC Policy Design Part 1 appeared first on Life Success Legacy.

In this episode Mike and Chris dive into Willie Sutton’s Law. Nelson had a lot of well thought out opinions on things. So why does he follow up the Human Problems with a chapter about a notorious bank robber? Well, I will steal from Nelson (via Willie), “Wherever wealth is accumulated someone will try to […] The post Willie Sutton’s Law – BYOB #16 appeared first on Life Success Legacy.

The first chapter of Section 2 is the Human Problems… Gulp. Nelson knew it was important to tackle this topic first, because we all struggle with these issues. The whole chapter is one page, but it’s a packed one page! Take a listen to how Mike and Chris dissect the human problems and even give […] The post The Human Problems – BYOB #15 appeared first on Life Success Legacy.

This #tbt podcast is from August of 2017 and over three years later, it’s still one of the most asked questions. How do you actually get started in Infinite Banking? Listen to how Mike and Chris reframe the conversation and you might just realize that getting started is the easy part, it’s getting out of […] The post Getting Started with Infinite Banking appeared first on Life Success Legacy.

This #tbt is awesome. Mike and Chris dive into the heart of who we are. Why do we exist? “To inspire financial hope and freedom by revealing little-known truths about money while investing in trusting, long-term relationships.” That sentence is more than just our mission statement. Take a listen, you will not be disappointed! Original […] The post Who is Life Success & Legacy appeared first on Life Success Legacy.

We are officially buttoning up Part 1 of Nelson’s Becoming Your Own Banker book review after thirteen AWESOME episodes… whew!! We’re having so much fun taking this deep dive into each chapter of this life changing book. In this episode, Mike and Chris go through the review on page 27 (5th edition) and start with […] The post Review of Part 1 – BYOB #14 appeared first on Life Success Legacy.

This podcast is a wrap up of section one of Nelson Nash’s Becoming Your Own Banker. Mike and Chris highlight the chapters, review key points and sum up the information packed section. After you watch this one, go back and watch the other episodes in this chapter! The post Section One Wrap Up – BYOB #13 appeared first on Life Success Legacy.

In this weeks #tbt podcast, we dive into the third pillar of Infinite Banking. It is probably something that all of us have pondered recently, considering the volatility of the markets with its roller coaster highs and lows. Yes, I am speaking of retirement. That formidable ambition that can keep us up at night wondering […] The post Tax-Free Retirement appeared first on Life Success Legacy.

In this #tbt episode, we’re getting into the second pillar of Infinite Banking; How to Finance Everything! This is a critical aspect of Infinite Banking and it can uncover limitless possibilities. As Nelson used to say, this concept, and the ideas within are only limited by your brain. Listen to this early podcast and let […] The post Learn How to Finance Everything! appeared first on Life Success Legacy.

Part 4 of this chapter, Creating Your Own Banking System, is amazing. There is so much crammed into this episode you may have to listen twice. So, sit back and enjoy as Mike and Chris dig deeper into the nitty gritty of life insurance, the need for protection and the idea of being insurance poor. […] The post Create Your Own Banking System PT 4 – BYOB #12 appeared first on Life Success Legacy.

In part three of this ultra packed chapter, Mike and Chris dive into the way insurance actuaries “overbuild” policies. They also discuss dividends. What are they? How do they work? And are they helpful when considering Infinite Banking? The post Create Your Own Banking System Pt 3 – BYOB #11 appeared first on Life Success Legacy.

Today’s #tbt repost is the first of the four pillars of Infinite Banking. In the last #tbt we posted the short introduction to all four pillars, here, we dive in and get a more detailed look at exactly HOW Infinite Banking can help US take control of our finances. Learning to overcome the wind-current we […] The post Rapidly Eliminate Debt appeared first on Life Success Legacy.