Back to the Basics: Becoming Your Own Banker – Part 3

In this episode, Jim Oliver and Nick Kosko discuss:  

  • Becoming Your Own Banker by R. Nelson Nash and how to apply its principles.   
  • Actuarial science basics and insurance company’s methods for assessing risk ratings. 
  • Why the financial risk of whole life insurance shifts from the policy owner to the insurance company. 
  • How to choose your primary needs; finances or death benefit protection. 

Key Takeaways:  

  • The unilateral contract with the insurance company can be changed at any time, but not by the insurance company, only the policy owner. 
  • Financial management behavior changes are often needed, as the best investment is your behavior. 
  • Whoever controls the money makes the money, with whole life insurance the policy owner has the control. 

“We want to finance everything we buy through a money pool that we own and control that is stable, has these guarantees, and has been designed for our benefit.” –  Jim Oliver  

Book Link: Becoming Your Own Banker- Nelson Nash  
Free Copy: CreateTailwind.com 

Connect with Nick Kosko:  
LinkedIn: Nick Kosko  
Facebook: Nick Kosko  

Connect with Jim Oliver:  
Facebook: CreateTailwind & Jim Oliver  
Website: CreateTailwind.com  
YouTube: CreateTailwind.com  
LinkedIn: Jim Oliver  

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