I became aware of Nelson Nash and ordered his book not knowing it was the same month that he graduated. He continues to change lives including my own and every future generation in my family. I envy your having met and spent time with Mr Nash!
I've been studying the concepts via James Neathery vids on RU-vid go to his page and listen to every vid. You can also order an intro packet (very low cost) from his firm that includes Nelson's 1st book a vid made by James and other info. That will give you a good enough understanding to satisfy the desire for even more understanding of how to use the IBC.
1-Begin by starting up a dividend paying whole life insurance policy with a mutually owned company like Lafayette Life, Mass Mutual, NY Life, Security Mutual Life NY, and several others. The policy has to be designed and set up a certain way, not just an off the shelf policy, it will not work properly. 2-From there, you capitalize your policy(s) for several years by paying premiums in to your policy(s). 3-Then you begin to use the cash value to purchase things you would normally have to use a bank loan to purchase such as a car or rental house or whatever you want or need. Ideally, you would purchase income producing assetts, then have the income pay back the loan. The point is that the loans are the easiest to get and have no structured monthly payback schedule, and even though you borrow $$ from the insurance company, your money is left still compounding in the policy, making interest and dividends, and you get to use the money at the same time. Its like having dollars do 2 jobs at once. You will eventually recoup the interest that you once payed out to banks and pay it back to yourself. Over many years and several policies, you will have built up enough cash value to cover any of lifes purchases without having the banks stand in the way of getting money. You will no longer need a traditional bank except for a common checking account. Also, when you die, your family or beneficiary will receive a huge cash payout from the policy that is tax free. By this point, before you die, you should have taught your kids and grandkids the concept of borrowing and paying back from whole life insurance policies, to utilize to expand wealth in your family banking system for multiple generational wealth building.
with all the financial calamity going on i.e. derivatives bubble, dollar destruction, how do we know our policies will be safe if its denominated in dollars, since we cant really diversify into things like precious metals etc.. how are our policies going to whether this coming storm? I am glad I got into this
Folks implementing the plan now will probably not expect to be living off of it for a while. They'll keep they're plan and policies in place until the storm passes. Even if the currency changes. the policies will have value in the new currency. And if worse comes to worse, having any plan with savings is better than having no plan with no savings.
if that is your view WHERE DO YOU CURRENTLY STORE YOU MONEY?!?! in a bank?!?! Im sure if you look at apocalyptic scenarios NOTHING is safe insurance companies are the backbone of the financial economy you look at the banks vs insurance company closures from the 1929's and 2008's eras n you will see some shocking information. yr talking about metals n missing the post in his presentation he talked about purchasing real estate replace real estate with precious metals. the policy(s) is where you store your "dry" powder cash for ANY type of investment you choose
This is the same way i felt when i was miltary police. I see you doing a crime. I witnessed you doing the crime. Why are you suspected when i found you committing the crime when i am a reasonable and prudent person.
Not every country has Mutual, Dividend Paying Whole Life (DPWL) Insurance which is the vehicle Nelson recommends using. However, Becoming Your Own Banker doesn't rely on DPWL you can "bank" with various vehicles.
the point is to "become your own banker"... yes there are tax benefits, and a death benefit, also there are dividends. All of these things are great but that not main "point" of these... Dividend paying Whole life insurance from a Mutual company is the product we use.... And becoming your own banker is the process. Even though these policies have excellent "benefits" on their own the most important part is the loans we can get from these policies. It is important because not only can we get loans but we can also dictate the terms of these loans. We can pay interest only, we can pay monthly, we can pay quarterly, and we can also have the right to NEVER pay them back. We are the banker and we can make our own rules. Don't get me wrong, even though we can not pay back these loans we want to be "honest bankers" and actually pay back our loans. The process of getting a loan could not be easier. You fill out one form with your policy number, your Name, where you want the check delivered and how much you want to take out. PERIOD....and you could get a loan with the greatest of ease no matter how much(cash value) you have in the policy. You could get a million dollar loan someday with the same process, unlike going to a commercial bank(third party lender) where you need a certain credit score, two years tax returns, proof of employment, a payback schedule, and without explaining what that big deposit in your checking account was 6 months ago. This is the ultimate power. Yes there are lots of benefits to these policies but this is the WHY behind what we are trying to do here
Christopher Willis no I haven’t thought of that one...(could you get a margin loan for the size of your mortgage)I’m 38 and I’ve learned a ton of money stuff throughout my life. (And I’m still poor) And I just learned byob within the last year. My conclusion is this. I think this stuff is the absolute truth about money. I wish I would of learned it when I was 20. But consider this it’s demonized from all fronts....by guess who? The people who want us to keep going to them for financing. As well as the markets that want to keep us in there so they can siphon fees from us. I truly truly believe in this. ...Not too mention the government that want to offer tax insensitives then (most likely) take them away in the future.
