Episode 100: Becoming Your Own Banker, Book Review

What this episode covers

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.

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Frequently Asked Questions

How long is this episode of Thinking Like a Bank?

This episode is 17 minutes long.

When was this Thinking Like a Bank episode published?

This episode was published on June 13, 2023.

What is this episode about?

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...

Can I download this Thinking Like a Bank episode?

Yes, you can download this episode by clicking the download button on the episode player, or subscribe to the podcast in your preferred podcast app for automatic downloads.