Episode 100: Becoming Your Own Banker, Book Review

Thinking Like a Bank

English - June 13, 2023 15:43 - 17 minutes - 15.6 MB - ★★★★★ - 41 ratings
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Previous Episode: Episode 99: Become the Bank, Learn to Invest in Notes with David Putz

Next Episode: Episode 101: Big Picture Branding with Grace Lee

It's officially episode 100!!!

Thanks for listening this far. We hope you're getting a lot of value out of this podcast.

Please let me know if you'd like me to do an episode about a specific topic you are interested in. Also, if you'd like to share your story and expertise on our podcast, please send me an email at [email protected] to learn more about becoming a guest on our podcast.

I've been spending the last two weeks trying to think of a topic to talk about on the solo episode, and then it hit me. I should record an episode about Nelson Nash's book, Becoming Your Own Banker. Some of our clients haven't read the book, so I decided to do a book review episode where I can discuss some key points of Becoming Your Own Banker since it has a lot to do with the Bank on Yourself Concept, as well as growing wealth from a general financial planning perspective.

🔥 This episode talks about:

☑️ Who is Nelson Nash?

☑️ How do you become your own banker?

☑️ What is arbitrage and how does it work when you leverage your dividend-paying whole life insurance?

☑️ How do life insurance loans work?

☑️ Life insurance loans vs. other types of loans?

☑️ The advantages of borrowing against your dividend whole life insurance policy

☑️ How can you increase the cash value of your life insurance policy?

☑️ What are headwinds and tailwinds in business?

☑️ What is Fractional Reserve Banking?

☑️ How insurance companies manage a pool of capital?

☑️ The Law of Large Numbers in the insurance industry and how this helps you mitigate risk

☑️ What is paid-up insurance?

☑️ What is a Modified Endowment Contract (MEC)?

☑️ The tax implications of a whole life insurance, if non-MEC

☑️ What is self-insurance?

☑️ How long does it take to build up cash value in a dividend-paying whole-life policy?

☑️ Can you take out life insurance on someone else?

👉To learn more about what we do and how we can help you grow more wealth, please visit ➡️ https://finassetprotection.com

👉You can also schedule a free call with us: ➡️ https://calendly.com/financialservicesins

📢💡 📚 Free "Thinking Like a Bank" ebook. Learn to think like a bank by downloading a free copy here: ➡️ https://thinkinglikeabank.com

🚧 👉 **Not intended to be financial advice. Please consult a professional who knows your specific situation.