Jayson Lowe describes R. Nelson Nash's diversification strategy: insuring 22 lives to create separate cash-value policies that function as personal banks. Lowe's family now uses this "family banking" approach with 27 insured lives, giving them multiple sources of capital they control for investments.
And I will never forget for the rest of my life, R. Nelson Nash at a seminar. And well into his 80s, he was traveling, doing 30, 40-plus live seminars a year. And somebody in the audience said, well, Nelson, if you can control how you finance the things you need, including investments, what are your thoughts on diversification as it relates to investments? Because Nelson shared that he had experience as a real estate investor, but people genuinely wanted to know, like, where else did you put money to work? And Nelson said, well, let me share a word with you about diversification. In Nelson's system of policies, he had multiple lives insured. I think there were 22, if I'm not mistaken. And he said, I'm diversified in lives insured because sooner or later everyone is going to die. And if you look at your own and evaluate your own mortality, you don't have a lease on life, neither do I. Every single one of you is going to die. You just don't know when. And so insure your life, absolutely, but take care of those that you have a beneficial interest in as well. Think about it. That's what gave rise to the 27 lives insured in our own family banking system. Want to find out more about how you can become your own banker? Click the link below or head over to learnwithjay.com. That's learnwithjay.com.
