In this episode, Jim Oliver and Nick Kosko discuss:

• The continued and ongoing relevance of Becoming Your Own Banker by R. Nelson Nash. 
• Expenses expand to equal our income
• Willie Sutton's law- Wherever wealth is accumulated, someone will try to steal it
• The IRS takes your money to give to the Treasury to pay to the Federal Reserve for all the money they're borrowing

 

Key Takeaways:

• We need to overcome Parkinson's Law to succeed
• If you can overcome Parkinson's Law, you will win by default, and you don't need to do it alone
• What we consider "necessities" change as we have more resources available
• "Do it yourself" retirement plans don't work
• You can't abolish your student loan debt in bankruptcy

 

"Work expands to meet the time envelope allowed." —  C. Northcote Parkinson, Parkinsons Law and Other Studies in Administration

 

Book Link: Becoming Your Own Banker- Nelson Nash

Free Copy: CreateTailwind.com

 

Connect with Jim and Nick:

Facebook: CreateTailwind & Jim Oliver

Website: CreateTailwind.com

YouTube: createtailwind.com

LinkedIn: Jim Oliver

  

Show notes by Podcastologist: Chelsea Taylor-Sturkie

 

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.