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
