Not Your Average Financial Podcast™

Episode 259: The Top Ten Keys to Becoming Your Own Banker with Marty Smith


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In this episode, we ask:

  • What is the most important business in the world?
  • Who is in the banking business?
  • Who is Marty Smith?
  • What about a Marty Smith trilogy?
  • Where has Marty and his wife been living for 46 years?
  • How long has Security Mutual of New York been in business?
  • What are the flagship products for Security Mutual Life Insurance Company (SML)?
  • What about Nelson Nash?
  • What about the death benefit?
  • What about building cash value?
  • What is a wonderful combination?
  • What is the biggest hurdle?
  • What about education?
  • How many days since the last paradigm shift?
  • What is the infinite banking concept?
  • What about the book, Becoming Your Own Banker by Nelson Nash?
  • Who was Nelson Nash?
  • What about Austrian Economics?
  • What about forestry?
  • How far into the future do you think?
  • What about real estate investing?
  • What about being a pilot?
  • How does money actually work?
  • How do you think?
  • What are the top ten keys?

    1. What is the most important business in the world?

    • Banking
    • 2. What is banking?

      • Where some one or organization controls a pool of money
      • 3. What about the one pool of money?

        • It applies to everyone
        • 4. What about the reality of financing everything you buy?

          • You either pay interest to someone
          • Or you give up interest you could have earned by paying cash
          • 5. What about the alternate use of money?

            • Opportunity Cost
            • 6. What is the real problem?

              • Paying roughly a third of income on interest, fees and charges
              • 7. What about the need for finance?

                • Probably greater than the need for life insurance protection
                • 8. What about better control over principal and interest for big ticket items?

                  • Cars you own,
                  • major appliances,
                  • education,
                  • housing,
                  • down payment on a house,
                  • investment opportunities,
                  • business equipment and inventory
                  • 9. What about creating a system of finance?

                    • Using dividend paying cash value whole life insurance
                    • (NOT Universal Life (UL), NOT Variable Life (VL), NOT Indexed Universal Life (IUL))
                    • 10. What about a major paradigm shift? Do you understand how money works?

                      • It requires a major paradigm shift
                      • A personal wealth building strategy
                        • What about the book Debt: The First 5000 Years by David Graeber?
                        • Who do you want to be in control?
                        • Would you like to hear a story?
                        • Is banking a problem?
                        • What is the solution to the problem?
                        • What would change?
                        • What about increased freedom and joy?
                        • What about being financially independent?
                        • What about a personal wealth building strategy that actually works?
                        • Marty Smith is the Regional Vice President of Security Mutual Life Insurance Company of New York. He loves Infinite Banking and Bank on Yourself Concepts, Circle of Wealth, and Wealth & Wisdom. He believes that “dividend-paying, cash-value whole life insurance” is the greatest financial product that’s ever been created.

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