Richard Canfield warns that "infinite banking" is trademarked by the Nelson Nash Institute, and many variants promoted with different insurance products or non-mutual companies are misleading. He urges listeners to develop a "financial noise cancelling headset" to cut through the misinformation.
Chapters
There's an element of being. I don't know if I would put this as a risk. It's more of like a risk in your discovery process, like when you're introduced to the concept, I think we refer to it as Nelson would have referred to it, is noise. And so he says you need to develop financial noise canceling headset. And so he felt that there was a ton of noise in the financial marketplace. Now, when Nelson talked about that, he was talking about the general, broad financial marketplace. I'm talking more specifically to the marketplace around the promotion and promoters of the infinite banking concept. There's trademarks attached to the infinite banking concept that's owned by the Nelson Nash Institute. They're the source of that content. And those trademarks, people who are promoting that you can do this concept or infinite banking is better or something like that, with, as an example, a different type of insurance product or not with a mutual company, et cetera. I mean, that's blatantly false. That should be an immediate red flag to you. That is a risk. If you're going down this process of learning and you're seeing things like that, yes, you should be concerned about that and you should take the time to pause and go do some more due diligence because you have to look out for you and your family. That is important.
