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Back to the Basics: Becoming Your Own Banker Part 3
Breakaway Wealth Podcast
English - June 28, 2019 07:00 - 31 minutes - 32 MB - ★★★★★ - 48 ratingsInvesting Business 1000x 10xthinking mindset abundance actlikeabank infinite infinitebanking midastouch participatorysport richdadthinking Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Acquiring Businesses with Domenic Rinaldi
Next Episode: Steve Olsher: The Lifelong Entrepreneur
In this episode, Jim Oliver and Nick Kosco discuss:
Becoming Your Own Banker by R. Nelson Nash and how to apply its principles. Actuarial science basics and insurance company’s methods for assessing risk ratings. Why the financial risk of whole life insurance shifts from the policy owner to the insurance company. How to choose your primary needs; finances or death benefit protection.
Key Takeaways:
The unilateral contract with the insurance company can be changed at any time, but not by the insurance company, only the policy owner. Financial management behavior changes are often needed, as the best investment is your behavior. Whoever controls the money makes the money, with whole life insurance the policy owner has the control.
"We want to finance everything we buy through a money pool that we own and control that is stable, has these guarantees, and has been designed for our benefit." - Jim Oliver
Book Link: Becoming Your Own Banker- Nelson Nash
Free Copy: CreateTailwind.com
Connect with Nick Kosko:
LinkedIn: Nick Kosko
Facebook: Nick Kosko
Connect with Jim Oliver:
Facebook: CreateTailwind & Jim Oliver
Website: CreateTailwind.com
YouTube: createtailwind.com
LinkedIn: Jim Oliver