BYOB Book Review Part 12 | How Do I Get Started With The Infinite Banking Concept?

08/08/23 • 44 min

People who have heard about the Infinite Banking Concept but looked the other way continue to be in financial prison. They have not fully understood the multitude of benefits this financial system offers, so they continue to trade their time for money. Others think IBC is a ripoff or a scam because life insurance agents do not know precisely how it works. They are not IBC coaches. If you've been wondering how to start setting up your banking system, Russ and Joey will discuss that in detail today. So stick around and get ready to become your own banker.

In response to the requests to bring back the BYOB series, Russ and Joey continue their book review, and today they talk about expanding your system to accommodate all income.

This episode is Part 12 of an 18-Part Series.

Top 3 Things You’ll Learn:

The first thing you need to start IBC is to have the desire to do it.
Infinite Banking is a long game. It's not a get-rich-quick scheme.
The criteria for finding the right IBC Coach

About R. Nelson Nash:

R. Nelson Nash (1931 - 2019) wrote the book Becoming Your Own Banker that unfolded The Infinite Banking Concept (IBC). He came up with the idea of IBC in the early 1980s when he was struggling with high-interest rates on commercial bank loans. Today, many people continue to benefit from using IBC as a tool to achieve financial freedom.

Join the Inner Circle Live: August 25-27, 2023

https://go.wealthwithoutwallstreet.com/innercirclelive-2

Promo Code: PODCAST

Free Financial Strategy Call:

https://www.wealthwithoutwallstreet.com/freecall

Becoming Your Own Banker by R. Nelson Nash:

https://www.wealthwithoutwallstreet.com/ibcbook

Nelson Nash Institute:

https://infinitebanking.org/

The Infinite Banking Concept Explained by a CFP:

https://www.youtube.com/watch?v=sVuexMv6Kf4

IBC Example: True Cost of Paying Cash vs. Using a Whole Life Policy:

https://www.youtube.com/watch?v=h4rugVZkajc

The Land Geek (Mark Podolsky):

https://www.thelandgeek.com/

Play the best online investing game — CASHFLOW® Classic:

https://www.richdad.com/products/cashflow-classic

Join the Community:

https://www.wealthwithoutwallstreet.com/community

Turn Active Income Into Passive Income:

https://www.wealthwithoutwallstreet.com/PIOS

Take the Financial Freedom Analyzer:

https://wealthwithoutwallstreet.com/quiz

Discover Your Path to Financial Freedom:

https://www.wealthwithoutwallstreet.com/passport

Apply to Join the Passive Income Mastermind:

https://www.wealthwithoutwallstreet.com/wwws-passive-income-mastermind

—

In response to the requests to bring back the BYOB series, Russ and Joey continue their book review, and today they talk about expanding your system to accommodate all income.

This episode is Part 12 of an 18-Part Series.

Top 3 Things You’ll Learn:

The first thing you need to start IBC is to have the desire to do it.
Infinite Banking is a long game. It's not a get-rich-quick scheme.
The criteria for finding the right IBC Coach

About R. Nelson Nash:

Join the Inner Circle Live: August 25-27, 2023

https://go.wealthwithoutwallstreet.com/innercirclelive-2

Promo Code: PODCAST

Free Financial Strategy Call:

https://www.wealthwithoutwallstreet.com/freecall

Becoming Your Own Banker by R. Nelson Nash:

https://www.wealthwithoutwallstreet.com/ibcbook

Nelson Nash Institute:

https://infinitebanking.org/

The Infinite Banking Concept Explained by a CFP:

https://www.youtube.com/watch?v=sVuexMv6Kf4

IBC Example: True Cost of Paying Cash vs. Using a Whole Life Policy:

https://www.youtube.com/watch?v=h4rugVZkajc

The Land Geek (Mark Podolsky):

https://www.thelandgeek.com/

Play the best online investing game — CASHFLOW® Classic:

https://www.richdad.com/products/cashflow-classic

Join the Community:

https://www.wealthwithoutwallstreet.com/community

Turn Active Income Into Passive Income:

https://www.wealthwithoutwallstreet.com/PIOS

Take the Financial Freedom Analyzer:

https://wealthwithoutwallstreet.com/quiz

Discover Your Path to Financial Freedom:

https://www.wealthwithoutwallstreet.com/passport

Apply to Join the Passive Income Mastermind:

https://www.wealthwithoutwallstreet.com/wwws-passive-income-mastermind

—

Previous Episode

Buying Online Businesses for Profit With Sophie Howard

Are you still thinking about which path to take to achieve financial freedom? If you have yet to decide which way to go, or you're looking for a new business opportunity, you would want to listen to this episode with Sophie Howard.

Sophie shares what she considers the fastest lane to building passive income: buying online businesses. But how would you know which business to buy? Tune in and let Sophie walk you through purchasing online businesses for profit.

Top 3 Things You’ll Learn:

How to buy online businesses and outsource the operations
How to cross-pollinate your businesses
Top online business models and ideas

About Our Guest:

Sophie Howard started online with an Amazon business in 2013. She also launched over 1000 products and built educational programs teaching thousands of students how to sell online. A big fan of passive income streams and smart business models, Sophie stays engaged with the latest trends of what is working in online businesses.

Connect with Sophie Howard:

Website - https://www.wealthwithoutwallstreet.com/FreedomNavigator

Inner Circle LIVE 2023: August 25-27, 2023

https://go.wealthwithoutwallstreet.com/innercirclelive-2

Promo Code: PODCAST

Buy and Sell Online Businesses & Websites:

https://empireflippers.com/

Trends Newsletter Guide:

https://trends.co/guide/

Free Financial Strategy Call:

https://www.wealthwithoutwallstreet.com/freecall

Join the Community:

https://www.wealthwithoutwallstreet.com/community

Discover Your Path to Financial Freedom:

https://www.wealthwithoutwallstreet.com/passport

Turn Active Income Into Passive Income:

https://www.wealthwithoutwallstreet.com/PIOS

Take the Financial Freedom Analyzer:

https://wealthwithoutwallstreet.com/quiz

Apply to Join the Passive Income Mastermind:

https://www.wealthwithoutwallstreet.com/wwws-passive-income-mastermind

—

Next Episode

Stop Playing Small and Go for It with Bronson Hill

Wouldn't it be great to have the choice to keep working or retire early and still have money coming in? Today's guest was able to exercise this freedom of choice, and he will share how he left his high-paying job and went all-in to becoming a real estate investor.

Tune in to discover if the path he took is something you would want to follow. Discover how to start finding profitable deals and investing in properties even when you don't have enough money for capital.

Top 3 Things You’ll Learn:

Two ways to participate in a deal
How to raise capital to finance a deal
Making the hard decision to leave a well-paying job

About Our Guest:

Bronson Hill was a highly-paid consultant for a medical device company. He worked with physicians who made millions of dollars each year (literally!) but were working 60-80 hours a week, and Bronson didn’t envy them. Yes, they were making a lot of money but trading much of their time. He wanted to make his money work harder to have the freedom to spend his days how he wanted.

In his journey, Bronson discovered that high-earning individuals could reduce their taxes and eventually replace their work income with cash flow through alternative investments (outside of Wall Street). He believes true financial freedom is when you can scale your passive cash flow without limiting your time. Today, Bronson continues to build his wealth through multifamily syndications.

Connect with Bronson Hill: