Breakaway Wealth: Nelson Nash on How to Break Away & Become Your Own Banker
Breakaway Wealth: Episode 1 – One thing that has become clear is how much the banking system controls most people. What are the origins of this system, and what are some of the specific ways it actually works against us? Why should we opt to become our own bankers? What shift needs to take place for this to happen?
On this episode of the Breakaway Wealth Podcast, Jim Oliver (founder of CreateTailwind) talks with IBC founder, author, financial expert, and veteran Nelson Nash about what it takes for us to get real financial freedom – and why we shouldn’t trust banks.
If you’re going to be a banker, you should be your biggest customer— and don’t lend money to a fool. -Nelson Nash
Get the Episode on YouTube:
Three Things We Learned from this Episode
- The only way to learn about money is to educate ourselves
Everything Nelson learned about money and economics wasn’t taught in college. It was learned through mentors, real world experience, and reading after college. We’re not going to get the information from the system. We have to empower ourselves by self-educating and seeking the knowledge that will help us make better decisions.
- How much money the banks really make from us
The average American is paying 34.5% of every net dollar they earn for interest rates. On a $300,000 mortgage over 30 years, you’re going to pay about $0.48 of every dollar you pay to the bank. This should tell us just how much the bank owns us.
- How the bank takes our financial power
The typical American has been made a slave of the bankers through low interest rates. Because everything is financed, a lot of people have stopped saving money, and this gets them into trouble. Few of them learn the facts of money and how it flows, because keeping us ignorant allows the banking system to control us.
If we want a shot at financial freedom, the first thing we need to do is shift our mindset. We must learn the truth of the banking systems and empower ourselves to create breakaway wealth. We need to read books that show what’s really going on. Some people don’t care about the interest rates they are paying, but if you consider that you’re giving almost half of your money to the bank, you’re going to start caring. Infinite banking is a participatory sport; we can’t just sit back and hope someone else will do that for us.
Nelson Nash is the discoverer and developer of The Infinite Banking Concept™ and the author of Becoming Your Own Banker. Nash remains a popular teacher and lecturer on the Infinite Banking Concept™ through dividend-paying whole life insurance. A native of Georgia, Nash received a B.S. Degree in Forestry from the University of Georgia, 1952. From 1954-1963, Nash worked as a Consulting Forester in eastern North Carolina. During more than 35 years experience as a Life Insurance Agent, Nash worked with The Equitable Life Assurance Society of the U.S. and with The Guardian. Recognized for his high achievements, Nash was inducted as a Hall of Fame Member by Equitable, a Chartered Life Underwriter, and Life Member of the Million Dollar Round Table. Go to https://infinitebanking.org/ for more information.