Richard Canfield discusses Nelson Nash's Becoming Your Own Banker and how to use dividend-paying whole life insurance as a personal lending tool. Instead of traditional loans, you borrow against your policy to fund real estate deals while keeping your money working for you.
Chapters
What are some of the things that resonated with you as you read Nelson's book becoming your own banker? Where did you see the connection points between the concept of infinite banking and what you're already doing in the real estate world?
Reading the book, it just made us realize that first of all, we were lied to when we were young in school on how things work. The school system and even the university system trains people to be excellent employees and to be consumers, not to be thinkers and to be investors, because the entire concept of a dividend paying policy against which you can borrow yourself is really just rearranging your money flow. Reading that book was helpful for us, was just rewiring and rethinking of how we should just organize the finances so that on one side we can continue to have the lifestyle that we have. And real estate is a fairly capital intensive industry.