Richard Canfield defines "infinite banking" as a mindset and a continual process of money movement rather than a product. He frames "banking" as an action—daily financial movements between locations at varying speeds—and describes "infinite" as the human capacity to generate ideas and exercise control. Infinite banking, in his view, emphasizes positioning yourself to control money flows for personal, business, or family needs; life insurance is treated as a tool that can facilitate the process but is distinct from the concept itself.
Chapters
Richard, explain to me what is infinite banking? Well, you can't place limitations on something that's infinite. Finite has limitations too. So the infinite is the infinite capacity of the human brain to come up with ideas and generate, or your ability to generate. It's your thinking. That's what the infinite really is. To me, banking is an action word. It's something that you do. Banking transpires, it happens throughout your life every single day. Money has to move from one place to another in a relatively short period of time. That's what Nelson Nash would indicate. That is the activity, the action of banking. It is a process of money movement from a location to a location at some measure of speed. This happening every day in everyone's lives. Infinite banking is thinking about that activity in such a way where you're putting yourself in the control position as often and as frequently as possible as it relates to your individual needs or your business's needs or the needs of the family members you love and care about. That, to me, is what the infinite banking concept is. Concept is a, is a modifier. What Nelson say, it's a, it's about, it's about a thinking process. It's something that is an idea that you conceptualize. You know, people make concept cars. Every car that's driving on the road today was at one time a concept. And there's a lot of concept cars that don't get into, into production activity. Right. But the concept of what it is is often displayed and it gives you a vision or a thought process on what could be. So the infinite banking concept is. It is exactly that, but it's around the mindset. And so it has virtually nothing to do with life insurance. It is 100%, in my opinion, about what's going on between this squishy mass of your ears, this thing you call the human brain, and how you relate to the information that flows through your life around the financial aspect and the movement of money. Using an insurance product to help accomplish that objective, the way you want to do it in a, in some form of efficiency, is simply making it logic, a logical decision. So the separation between a product, life insurance, and a process of what you do things and how you think about doing those things, there's a thinking aspect and then there's a doing. Thinking, doing, thinking, doing product. You're thinking, you implement a product and you, you do activity as the doing that's now putting all those components at work. But you can't have an insurance product that you own and be doing infinite banking that doesn't it doesn't work like that. You have to actually be recognizing the function of banking in your life and trying to recover some of those control elements slowly and incrementally as you build so that you can see the benefits of having that, the decision making potential at your fingertips.
