Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Liquidity Matters From Day One

24 Apr 2025 · 1 min

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This short transcript excerpt captures Richard Canfield advising that business decisions require liquidity. He references Nelson's book, noting that examples in the book delay using a whole life policy until at least the fifth year, and explains the book's static nature and its emphasis on committing to actions over several years (Parkinson's Law) to build a durable business.

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When you're making decisions in the business, you need a degree of liquidity. In Nelson's book, of course, all of Nelson's examples, he doesn't show anyone using a policy in the book earlier than the fifth year. The reason that he did that is, number one, it's a static book, so he couldn't be there to tell you and give you ideas and suggestions on the fly. Number two, he wanted people to understand and recognize Parkinson's Law and that if you could commit to doing something for a number of years, then you would have a very strong, durable business, at least in relation to a whole life policy at that point, and you could pretty much do whatever you wanted.