Monday, June 20, 2011

The Seen & Unseen of Bank on Yourself/Infinite Banking Concept

You'll want to take the time to read the intro and all the discussion thread banter.  Very informative.

Reading articles like the above always remind me of the very first conversation I had with Nelson Nash.  He schooled me and I'll never forget it.  In particular, he told me I was majoring in the minors.  Basically getting caught up in all minute details and missing the bigger picture.  It's easy to get caught up in forensics and analysis of a policy but in the end he recommended returning to the WHY (control the flow of your money) and refer to the basics. He calls it the Seen and Unseen of IBC.

  1. There is no safer place for money.  No FDIC insurance needed.  Life insurance companies are solvent.  They must have more capital reserves than liabilities at all times.
  2. The money is liquid. Access your cash value for any reason, any time.
  3. The money is tax-advantaged.  IRS approved section 7702a.

For the most part, these characteristics are the "seen".  It doesn't take much study to know this about a whole life policy.  The "unseen" is how utilizing this very specifically designed policy will move you from a position of being a saver/borrower to saver/borrower and banker.

Banking is the most important business in the world.  All other businesses will come and go, but the business of banking is eternal.  That's why Nelson will instruct people to have two paychecks in life.  One from their job/business and the other from their banking business.  If they maintain only their job/business, they've giving the banker the other paycheck they could be earning.

People get so upset about the fatcats on Wall Street and the banking industry, yet they fail to understand why the fatcats are there in the first place.  It's because we outsource our individual banking function (give up control of the flow of our money to them).  Wall Street banks will never teach us to control the flow of our money (Be our own banker).  Doing so would mean an end to easy money.

Nothing improves in this world until people change the way their think.  The biggest secret is that we are what we think about the most.  When it comes to your money, my hope is you start thinking like a banker.

John Montoya

JLM Wealth Strategies, Inc.
(925) 386-6639 Office
Authorized Advisor-Bank on Yourself®

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