Learning about an understanding the Infinite Banking concept can will take some time for most people. In reality the concept is so easy, but because IBC is 180° from what most people have been taught. Prior to the 1960’s a vast majority of Americans used dividend paying whole life insurance as a core savings vehicle. This fell out of fashion when Wall Street came to Main Street. Meaning it became easier for the average person to invest in stocks.
In the early 1980’s R. Nelson Nash had a revelation when interest rates climbed to over 20%. He was able to finance his high interest real estate using his life insurance at considerably lower rate. That’s when it hit him with the fact if he could do this, what would happen if he specifically designed a plan to intentionally use life insurance as the primary savings vehicle and use that savings to finace large purchases such as vehicles, real estate, business equipment, and other large ticket items.
Since the book Becoming Your Own Banker was released in 2000 there has been several great books and Audio and DVD’s released that further explain this concept. Below are some of our favorite books that we feel will help most people learn more about the idea of privatized banking, bank on yourself, becoming your own banker or whatever name you want to call it.
We feel that the foundation book should for everyone is Becoming Your Own Banker, Unlock the Infinite Banking Concept.
Building your Warehouse of Wealth is Nelson Nash’s second book further explaining how the Infinite Banking Concept works.
“How Privatized Banking Really Works” was written by Robert Murphy a Ph.D. economist and Carlos Lara a business owner and restructuring consultant. Carlos has helped hundreds of businesses prevent bankruptcy since the late 1970’s.
This book marries the idea of Austrian Economics and Infinite Banking. By understanding the Austrian theory of the business cycle and how to use IBC to smooth out the booms and crashes in the lives of individuals and business. This foundational book should be at the top of everyone personal finance reading list.