Duryea Financial Podcast

In this episode, my guest Bruce Wehner, a Nelson Nash Institute council member, dives into the transformative world of infinite banking. Bruce shares his journey from Catholic school education to financial services, sparked by the 2008 financial crisis, and his introduction to Nelson Nash’s infinite banking concept in 2009.

Bruce explains the critical differences between whole life and universal life insurance, emphasizing whole life’s fixed premiums as ideal for infinite banking’s certainty and control.

Bruce also recounts his personal connection with Nelson Nash, highlighting Nash’s conviction and open-mindedness in spreading financial empowerment.

The episode explores how infinite banking offers entrepreneurs and individuals control over their finances, akin to owning their own banking system, reducing reliance on traditional banking systems. Join Michael and Bruce for an insightful discussion on achieving financial freedom through sound money principles.

Keywords: Infinite Banking, Nelson Nash, Whole Life Insurance, Financial Control, Sound Money

Summary

In this episode, Michael Duryea discusses the importance of thinking like a banker.

He emphasizes the need for individuals to take control of their financial systems and become distributors of their wealth rather than mere consumers.

The conversation explores the role of life insurance in wealth management and the necessity of building an alternative banking system to reduce dependency on traditional banks.

Takeaways

• The podcast will now be released monthly instead of weekly.
• Infinite banking is about thinking like bankers.
• Thinking like a banker means seeing money in everything.
• Money is a means of exchange and should be treated as inventory.
• Life insurance companies are the real banks of our era.
• Becoming your own banker allows for greater financial control.
• Control over leverage is essential for financial independence.
• The traditional banking system limits individual financial freedom.
• Building an alternative banking system is crucial for business owners.
• Spiritual awareness is important in financial decision-making.

Enjoy!

In this episode I continue my review of Nelson's book Becoming Your Own Banker, where he discusses the misclassification of life insurance.

Nelson says that we should view life insurance as a personal system of finance, that happens to have a death benefit attached to it, not the other way around.

Enjoy!

In this episode I discuss page 35 in Nelson's book Becoming Your Own Banker, the chapter entitled "Use It or Lose It".

This chapter is the last of the human problems that Nelson says we must overcome if we are to become our own banker.

Enjoy!

In this episode, I review page 34 of Nelson's book, in which Nelson describes the devastating problem called "The Arrival Syndrome."

This problem is the most damaging problem we encounter in the mission of establishing our family system of policies for banking.

Don't miss this one! Enjoy!

In this episode I speak with my good friend and brother-in-law Josh Pretzer. We discuss our history with infinite banking and what it has meant to us over the years. Enjoy!

In this episode, I review the chapter in Nelson Nash's book entitled The Golden Rule, pages 31-33.

Nelson writes that those who understand the value of building and owning capital have the proper respect for capital, and are always those who are in control of the capital.

Those who own and control the capital will always earn the most money, and those who do not own and control capital will always be at the mercy of those who do.

Enjoy!

In this episode I continue my review of Nelson Nash's book Becoming Your Own Banker, pages 29 and 30.

In this section, Nelson discusses Willie Sutton's Law, a notorious bank robber.

Willie Sutton's Law is, "Wherever wealth is accumulated, someone will try to steal it."

Nelson goes on to discuss that the most effective form of theft is the political method, the legal method.

Thank you for tuning in! Enjoy!

In this episode, we move onward in Nelson's book to page 28 where Nelson begins discussing the human problems we all encounter as we set out to become our own banker. I discuss the human problems Nelson is laying out, and how they provide stumbling blocks to our success in IBC, and I offer the Biblical solution of grace as a permanent solution to the problems that we face when adopting IBC in our lives.

Click here for part 1 of The Cross in My Life by Brother Derek Prince.

Click here for part 2 of The Cross in My Life by Brother Derek Prince.

In this episode, I review pages 21-25 of Nelson Nash's book Becoming Your Own Banker and I zero on in the concept of ECONOMIC VALUE ADDED or EVA, what "the cost of capital" really means, and what Nelson meant by it.

If we do not understand EVA and the cost of capital, and how banks really operate and how the money system is really working, then infinite banking will never make sense.