Becoming Your Own Banker: Unlock the Infinite Banking Concept

My book came on time in great condition.

I love this book good information to know

Many people dismiss this book and it's concept because the author tells you that you have to purchase a particular type of Life Insurance policy and they don't understand what this has to do with Banking. Those people who are the ones putting 1 or 2 star reviews, DON'T understand that the Life Insurance Policy is the Bank. Not in the brick and mortar function, but in the services function. You can borrow against your own life insurance policy when you need to fund a purchase, and then you pay YOURSELF back (with interest - you decide), and this money goes back into the policy, maintaining your wealth. Versus, having to go to a bank to borrow and pay them back with interest. Instead of them getting the money, you get the money. This is the ENTIRE concept of the banking aspect of this insurance policy and why it's beneficial. In addition, once you pass, the policy pays out to your heirs. A smart way to do this, is to then take 30% of this payout and have a policy set for those heirs, so when they pass, their heirs also get the same benefit, and repeat for every generation. THIS IS HOW YOU MAINTAIN GENERATIONAL WEALTH. Imagining paying $1M into your life insurance policy over the course of say 20 or 30 years ($500/mo), and your policy is for $10M. When you die, you put in $1M, and your heirs will receive $10M. This is why EVERY SINGLE Wealthy person gets life insurance on all their family members. So whoever dies, the family estate receives $10M+ EVERY SINGLE TIME. And on top of this, you can borrow against your policy at any time, because it is a $10M policy and THAT is the collateral. So if you want to buy a $500,000 house for investment purposes, you don't need to go to the bank anymore. You simply borrow against your policy, and the repayments are made to your policy. There are also ways to tie this into a Trust or Family Foundation, to minimize and even reduce your tax obligation.Does this makes sense now?Please understand that this form of wealth maintenance also has it's own cost. A regular person working a 9-5 job @ some retail store, earning the minimum wage, won't be able to contribute to such a policy. However, once you have created some type of wealth for yourself (by maximizing your income & not buying silly stuff), then you can apply these principals to maintain and grow your wealth. Heck, you can take out multiple policies.Remember, the old saying.... "It takes money to make money." This is what this concept is about. You can't do this without having some funds. You can start out with about $10k, but you have to make sure you can sustain the monthly payments for the rest of your life (think $250/minimum to make this worthwhile). Once you stop, you don't get that money back. I suggest you speak to your insurance agent about this, and options for "Return Of Premium" in your policy. Again, this is about Financial Education, and not some short cut to wealth. THERE IS NO SHORTCUT.The ONLY SHORTCUT is Education. So, Educate yourself and your children about wealth creation and management.Also, it's easier to make $10,000 than it is to save $10,000. Go out there and start hustling as hard as you can to get this going!

The book sale was quick and fast arriving ahead of time and in very good condition.The content of the book is awesome

When I first picked up "Becoming Your Own Banker", I didn’t expect to learn this much about how money works in real life. It was a little bit confusing at first because it talks a lot about life insurance and banking, but once I got into it, I realized the author was trying to teach a really important and different way to think about money.The book is about the “Infinite Banking Concept.” Instead of you borrowing money from a bank, you can use your own life insurance policy to borrow from yourself. That way, you can control your money, pay yourself back with interest, and build wealth over time. It’s kind of like becoming your own private little bank. The book used stories and examples to explain concepts in an easy-to-understand way.

Great price, it came quick.

The media could not be loaded. A very curious idea and helpful to know more on the nature and possibilities of permanent life insurance as a personal bank, but the text also contained a lot of very strange religious and reactionary political views that polluted it

While the concepts presented in the book are good, Nelson Nash desperately needs an editor. He wanders down rabbit trails, makes gratuitous disparaging remarks (in one passage, for example, he makes a passing reference to life insurance professionals as "clowns" without any explanation), begs the point in many of his arguments, and has gaps in his logical presentations.Nash takes positions which are apparently self-evident to him. But they are not self-evident to me, and I would have welcomed a little more "connecting the dots." In some areas he offers far more details than are needed to explain his concept, while in other areas he offers far fewer details than are needed.The book is sprinkled with Bible verses, although the topic - finance - is not presented from any kind of religious perspective.In short, this self-published book appears to be the product of the mind of one man, rather than the minds of one man plus an editor, or one man plus a publisher. That's too bad, because, while Nash has some valid concepts, the book is not a mature expression of those concepts.The book is fairly expensive: With only 59 pages of text (plus pages and pages of columns of figures, a few blank or almost-blank pages, a two-page glossary, etc.), the book costs about 35 cents per page of text; compare that with any other book you're likely to buy).If reading "Becoming Your Own Banker" leaves you scratching your head and muttering "Huh?" more than you would like, pick up a copy of The Bank On Yourself Revolution: Fire Your Banker, Bypass Wall Street, and Take Control of Your Own Financial Future. Yellen, who acknowledges Nash as her inspiration, has taken Nash's concepts and expressed them well. Her book is everything Nash's is not. On the positive side, it's well-written, focused, well-edited, and entertaining. On the negative side, Yellen's book isn't as detailed (you won't find the pages and pages of columns of figures you find in "Becoming Your Own Banker"). Unlike Yellen's first book, this New York Times best-seller is full of the specifics and the details you need to make a well-informed decision regarding taking charge of your own financial future.Each book has its strengths and each has its weaknesses. But if I could read only ONE of the two, I would pick Yellen's, hands down.