Insurance premiums keep rising—but claims are getting denied. So the big question is: does self-insuring actually make sense, or is it a risky move most people misunderstand?

In WTB Episode 255, we dive into one of the most controversial chapters of Becoming Your Own Banker: expanding the system and self-insuring. We unpack Nelson Nash's ideas around premiums matching income, infinite banking, and when (or if) it makes sense to self-insure things like automobiles and homes.

This episode also tackles the real-world problems people are facing today—denied insurance claims, skyrocketing repair costs, inflation, and misunderstood coverage. We break down the theory and the reality so you can decide what's right for your situation.

Key Takeaways:

Why insurance companies are denying more claims than ever

What Nelson Nash really meant by "self-insuring."

The difference between comp & collision vs liability coverage

How infinite banking creates a closed-loop financial system

Why self-insuring works for some—but not everyone

The importance of documentation for homeowners' insurance claims

Chapters:

(00:00) – Insurance claims denied & rising premiums

(01:11) – The infinite banking paradigm explained

(02:15) – Becoming your own banker (closed-loop system)

(03:38) – Capitalization & financing cars through policies

(03:56) – Self-insuring autos & homes: real-world risks

(06:01) – Personal property insurance & documentation pitfalls

(09:34) – When self-insuring makes sense (and when it doesn't)

What if two people saved the exact same amount of money... but one retired with nearly $900,000 more than the other? The difference wasn't discipline — it was where the money lived.

In this episode of Without the Bank, we break down one of the most powerful chapters from Becoming Your Own Banker: The Twin Sister Example. Using Nelson Nash's comparison between CDs and Infinite Banking, we examine how capitalization, dividends, and ownership significantly impact long-term outcomes.

We also tackle one of the most misunderstood — and ignored — components of Infinite Banking: the death benefit. Many people focus only on early cash value, but real banking strategies account for protection, longevity, and uninterrupted compounding.

If you've ever wondered why Infinite Banking outperforms traditional savings, CDs, and even "paying cash," this episode connects the dots.

Key Takeaways: Why capitalization is unavoidable — no matter how you finance purchases How leasing, bank loans, cash, CDs, and Infinite Banking really compare The hidden cost of "paying cash" and sinking funds Why the death benefit is not a downside — it's a bonus How ownership and dividends change retirement income forever Why Infinite Banking allows income without running out of money

Chapters: (00:00) – Why the death benefit matters more than people think (01:09) – Why starting small beats radical lifestyle changes (02:25) – Comparing car financing: lease, bank, cash, CD, IBC (08:38) – CDs vs Infinite Banking: the Twin Sister example (12:55) – Why dividends change everything long-term (16:13) – Retirement income: why one sister runs out and the other doesn't (27:32) – The two rules of Infinite Banking you must follow

Get Started: Ready to build your own banking system? Email: [email protected] Email: [email protected]

Grab your copy of Becoming Your Own Banker:

https://www.withoutthebank.com/shop...

Schedule an appointment and start beating Parkinson's Law today!

Most people are taught to buy term insurance and invest the rest—but what if that advice is based on a massive misunderstanding of how life insurance actually works?

In this episode, we break down why dividend-paying whole life insurance is fundamentally misclassified, how insurance companies really make money, and why Nelson Nash believed banking, not investing, was the missing piece.

In WTB Episode 253, we continue our deep dive into Becoming Your Own Banker by Nelson Nash, focusing on mortality tables, underwriting, modified endowment contracts (MECs), and why whole life insurance behaves more like a banking system than an insurance product.

We explore:

Why term insurance is incredibly profitable for insurance companies

How underwriting selects for people who actually live longer

Why retirement at 65 was built on a flawed assumption

How MEC rules really work (and why they're not the end of the world)

Why universal life, variable life, and indexed UL fail long-term

How to properly structure a whole life policy for Infinite Banking

If you've ever been told "whole life is bad," this episode explains where that belief came from—and why it persists.

Key Takeaways:

Death is not an if—it's a when, and insurance should be structured accordingly

Term insurance is statistically designed not to pay out

Responsible, underwritten individuals live longer—and insurers know it

Whole life insurance is misclassified, leading to bad financial decisions

Infinite Banking works best when cash value is prioritized over death benefit

MEC policies aren't catastrophic—but understanding the rules matters

Chapters:

(00:00) – Why the insurance industry misunderstands its own products

(05:50) – Mortality tables, underwriting, and who actually lives longer

(10:52) – Retirement at 65 and the Social Security fallacy

(18:03) – MEC rules, overfunding, and policy design explained

(31:27) – Why universal, variable, and indexed life insurance fail

(39:21) – Why Infinite Banking is caught, not taught

📘 Haven't read Becoming Your Own Banker yet? Start there. 📅 Want help structuring a policy correctly? Schedule a conversation with our team. 💬 Drop your questions or comments below—we read and respond.

Links Mentioned: Becoming Your Own Banker by Nelson Nash https://www.withoutthebank.com/shop...

Schedule an appointment / Learn more (check your email for the schedule link after you buy the book)

Are you collecting financial knowledge... or actually using it?

In this episode of Without The Bank, we break down two of the most dangerous (and overlooked) chapters from Becoming Your Own Banker: Arrival Syndrome and Use It or Lose It.

These ideas explain why so many people stall out financially—even after reading the right books, watching the right videos, and "knowing" the Infinite Banking Concept.

The problem isn't lack of information. The problem is believing you've already arrived.

When people stop applying what they learn, their policies stagnate, their cash flow tightens, and Infinite Banking quietly turns into "just another savings account." Nelson Nash warned us about this—and in this episode, we show exactly how it plays out in real life.

In This Episode, You'll Learn:

• Why arrival syndrome is more dangerous than ignorance
• How "knowing enough" kills financial momentum
• Why Infinite Banking must become a way of life, not a tactic
• What "use it or lose it" really means for your policy and your mindset
• Why focusing on interest rates misses the point entirely
• Why liquidity and cash flow matter more than returns
• The silent mistake people make when they stop using their policy

Episode Chapters:

00:00 – Knowledge vs. Implementation 01:05 – What Is Arrival Syndrome? 03:10 – The Illusion of Knowledge 05:20 – Use It or Lose It Explained 08:45 – Outgrowing Comfort Zones 11:30 – Common Infinite Banking Mistakes 14:00 – Why IBC Must Be a Way of Life

Resources Mentioned: Becoming Your Own Banker by Nelson Nash Get the book: https://www.withoutthebank.com/shop...

Already have the book? Use the link provided after purchase to schedule an appointment and get your questions answered.

If this episode made you rethink how you're using Infinite Banking, share it with someone who's still "learning" but not applying.

Apply what you know—or lose it.

Is the government really giving kids $1,000… or is there a bigger catch?

In this solo episode of Without the Bank (WTB), Mary Jo breaks down the Invest America Act (sometimes called the "Trump Account") and explains why she believes it raises serious red flags, from misleading claims by politicians to hidden tax consequences and stock market manipulation.

👉 Follow Mary Jo Here: https://www.youtube.com/@MaryJoIrmen?sub_confirmation=1 👉 Get the book: https://www.withoutthebank.com/book/?...

After reviewing the actual bill, running the numbers, and even putting it through AI, Mary Jo explains why this account is not what it's being sold as—and why families should be asking tougher questions before celebrating "free money."

🔍 What You'll Learn in This Episode:

Why the Invest America Act is not a Roth IRA

The real tax consequences when kids withdraw the money

Why capital gains taxes matter more than politicians admit

How inflation destroys the "big numbers" being promised

The hidden incentive to prop up the stock market

Why education beats government-funded investing every time

⏱️ Chapters

(00:00) – Why this account immediately raised red flags

(01:32) – What the Invest America Act actually says

(03:44) – Debunking Ted Cruz's claims

(05:57) – Following the money: who really benefits

(08:31) – Taxes, capital gains, and misleading projections

(11:44) – Inflation, purchasing power, and the real math

(15:07) – Why this doesn't create "capitalists."

💬 Join the Conversation

What do you think about the Invest America Act?

Leave a comment below or email Mary Jo at [email protected]

👍 Like | 💬 Comment | 🔔 Subscribe for more honest money conversations

📚 Want a Better Alternative?

If you want to set money aside for your kids without capital gains taxes and without government control:

👉 Visit https://withoutthebank.com?utm_source...

Most people think money problems are about income. They're wrong. It's about mindset, discipline, and who controls the capital.

In this episode, we break down The Golden Rule: Those who have the gold make the rules — and why that changes everything.

👉 Follow Mary Jo Here: https://www.youtube.com/@MaryJoIrmen?sub_confirmation=1 👉 Get the book: https://www.withoutthebank.com/book/?...

In Episode 250 of Without The Bank (WTB), we dive deep into the mindset behind wealth, capitalism, and control of money. Drawing from Becoming Your Own Banker by Nelson Nash, we explore why living for today destroys future opportunity, how capital attracts opportunity, and why disciplined thinkers consistently win — regardless of industry.

This conversation connects real-world business stories, personal experiences, and powerful mindset shifts that separate people who struggle financially from those who thrive.

Key Takeaways:

Why mindset matters more than income How immediate gratification sacrifices your future The real meaning of "Those who have the gold make the rules" Why access to capital creates opportunity How disciplined thinkers play a completely different game Why becoming your own banker is about responsibility, not numbers How your belief system around money shapes your results

Chapters: (00:00) – Mindset Is Everything Why every successful business owner talks mindset first

(02:07) – The Golden Rule Explained What "Those who have the gold make the rules" really means

(04:29) – Living for Today vs. Owning Tomorrow How spending habits destroy long-term freedom

(06:40) – Capital Creates Opportunity Why cash on hand changes the game

(12:38) – Discipline Separates Winners Why infinite banking isn't for everyone

(15:30) – Rewiring Your Money Beliefs How environment, inputs, and mindset shape results

(21:21) – Becoming the Bank Why most people give up the banking function — and pay for it

Links Mentioned: 📘 Becoming Your Own Banker – Nelson Nash https://www.withoutthebank.com/shop/?...

What if your 401(k) isn't really your money?

In this episode, we break down Willie Sutton's Law and expose how government-controlled retirement plans quietly limit your freedom, liquidity, and control over your wealth.

Follow Mary Jo Here: https://www.youtube.com/@MaryJoIrmen?sub_confirmation=1

Get the book: https://www.farmingwithoutthebank.com/book/?utm_source=youtube&utm_medium=organic&utm_campaign=wtb-ep249&utm_term=desc-top In WTB Episode 249, we continue our Becoming Your Own Banker chapter review, diving deep into Willie Sutton's Law: "Wherever wealth is accumulated, someone will try to steal it." This episode challenges conventional thinking around 401(k)s, IRAs, Roth limits, and tax-deferred retirement plans. We unpack how taxation works, why qualified plans were created, and how government incentives quietly shape your financial behavior — often at your expense. We also discuss the historical role of churches vs. government welfare, the dangers of inaccessible retirement savings, and why many people feel "broke" while technically having money they can't touch. Key Takeaways: Why tax-deferred retirement plans come with hidden control and risk How Willie Sutton's Law applies directly to 401(k)s and IRAs The real reason Roth IRAs are limited and capped Why tax refunds are NOT a win How lack of liquidity keeps people financially stressed Why responsibility—not government—is the key to financial freedom Chapters: (00:00) – Is the Government Your Savings Account? (05:50) – Willie Sutton's Law & Government Taxation (10:37) – Qualified Plans & Changing the Rules (15:38) – Roth IRAs, 401(k)s, and Control (20:55) – Liquidity Problems & Opportunity Cost (25:07) – Tax Refunds Explained (30:08) – A Private Solution Outside Government Control Grab your copy of Becoming Your Own Banker and follow along with us https://www.withoutthebank.com/product/becoming-your-own-banker/?utm_source=youtube&utm_medium=organic&utm_campaign=wtb-ep249&utm_term=desc-bot1 Drop your questions or comments — we read them. Like, subscribe, and share if this episode made you rethink retirement Links Mentioned: Becoming Your Own Banker by Nelson Nash: https://www.withoutthebank.com/product/becoming-your-own-banker/?utm_source=youtube&utm_medium=organic&utm_campaign=wtb-ep249&utm_term=desc-bot2 Austrian Economics & Mises Institute: https://mises.org/austrian-school/austrian-economics-overview FEE.org (Foundation for Economic Education): https://fee.org/

Most people don't have a money problem… they have a Parkinson's Law problem. Your expenses quietly rise, your "extra" money disappears, and the timeline for big goals keeps stretching—until one day you realize you're working harder but staying in the same place.

👉 Follow Mary Jo Here: https://www.youtube.com/channel/UCXYvzroUouEMsTGKFw5nJHQ 👉 Get the book: https://www.withoutthebank.com/book/

In this episode, we break down the 3 parts of Parkinson's Law and how to beat it daily—so you can redirect cash flow, build financial momentum, and stop losing every raise, payoff, or "found money" to lifestyle creep.

Key takeaways: Work expands to fill the time allowed (and so do money decisions) A luxury once enjoyed becomes a necessity (hello, lifestyle inflation) Expenses rise to equal income (why raises vanish fast) Why "we don't have the money" often means we won't redirect spending How discipline + simple systems can put you ahead of the 97%

Chapters: 00:00 The hidden sacrifice behind "overnight success." 01:53 What Parkinson's Law is (and why it matters) 03:08 Rule #1: Work expands to fill the time allowed 06:03 Rule #2: Luxury becomes necessity (lifestyle inflation) 08:40 Rule #3: Expenses rise to equal income 12:05 Beat it daily—or stay stuck 18:36 Proof it takes less effort than you think (the "top 1%" effect)

If this hit home, like, subscribe, and share with someone battling lifestyle creep. And if you want help applying this to your cash flow + "banking system," reach out:

📩 Mary Jo: [email protected] 📩 Teresa: [email protected]

You're financing everything you buy… even when you pay cash. 🤯 In this episode, we break down how to create your own banking system using dividend-paying whole life insurance, and why ignoring this might be costing you a fortune in lost interest.

👉 Follow Mary Jo Here: https://www.youtube.com/channel/UCXYvzroUouEMsTGKFw5nJHQ 👉 Get the book: https://www.withoutthebank.com/book/

MJ and Tarisa walk through a key chapter from Nelson Nash's Becoming Your Own Banker and unpack what it really means to "finance everything you buy."

They explain how paying cash still has a cost, why EVA (Economic Value Added) changed how businesses think about capital, and how the same thinking applies to families using dividend-paying whole life.

You'll hear the crucial differences between whole life and UL/IUL, how life insurance companies actually work behind the scenes, and why guarantees and control matter more than chasing returns.

Key Takeaways ◦ You either pay interest to others or give up interest you could have earned—there is no third option. ◦ Paying cash stops the future earning potential of that dollar unless you first put it into a system that compounds (like a properly structured whole life). ◦ EVA (Economic Value Added) shows that your own cash has a cost, and successful businesses account for it—so should you. ◦ Whole life vs UL/IUL: whole life offers guarantees and immediate access to cash value; most UL/IUL policies have surrender periods and moving parts. ◦ Dividends in mutual whole life companies are essentially a return of overcharged premium—and when used to buy paid-up additions, they supercharge long-term compounding. ◦ Life insurance companies are conservative by design: actuaries, rate makers, and contingency funds help them survive crises while still paying claims. ◦ Infinite banking is a system of policies over 20–25 years, not a one-policy, one-year tactic.

Chapters 00:00 – Why you finance everything you buy (even with cash) 02:09 – The unseen cost of cash and lost compound interest 04:25 – EVA: Why your own capital has a real cost 09:40 – Due diligence, "scam" labels, and thinking for yourself 16:03 – Owning the contract & being first in line for your money 23:08 – Actuaries, dividends, and the "fudge factor." 31:14 – Whole Life vs UL/IUL & building your own banking system

✅ Enjoyed this breakdown of Infinite Banking? ◦ Hit LIKE if this helped you see money and interest differently. ◦ SUBSCRIBE for more deep dives on Infinite Banking and building your own banking system. ◦ COMMENT with your questions about whole life, policy loans, or getting started—we may answer them in a future episode.

👉 Want help setting up your own banking system? Work with our team to review your current policies or design a new Infinite Banking plan.

📘 Book mentioned: Becoming Your Own Banker by R. Nelson Nash – highly recommended foundational reading for Infinite Banking. 👉 https://www.withoutthebank.com/produc...

Get BYOB and my book, Life Without The Bank: 👉 https://www.withoutthebank.com/book/?...

Most people assume you need $20 million, a bank charter, a building, employees, and 10 years before a bank ever makes a profit. But Nelson Nash reveals a far simpler way to create your own banking system, one that's been quietly working for over 200 years.

👉 Follow Mary Jo Here: https://www.youtube.com/channel/UCXYvzroUouEMsTGKFw5nJHQ 👉 Get the book: https://www.withoutthebank.com/book/

In this episode, we break down how traditional banking REALLY works, why starting a bank is nearly impossible today, and why participating whole life insurance already has all the infrastructure you need to start your own personal banking system.

If you've ever wondered "How does Infinite Banking actually work?" this chapter explains everything.

🔑 Key Takeaways ◦ Why real banks require $20M+, a charter, and years before profitability ◦ How whole life insurance mirrors the structure of a bank ◦ Why capitalizing a policy is like capitalizing a business ◦ The BIG misconception about borrowing against end of life benefit ◦ How improper loan repayment can destroy your banking system ◦ Why new or startup life insurance companies are risky ◦ How dividends represent "excess energy" inside a mature insurance system

⏱️ Chapters 00:00 – Why Starting a Bank Takes 10+ Years 01:25 – Bank Charters, Capital & Liquidity Requirements 03:36 – How Life Insurance Companies Already Did the Hard Work 04:49 – Deposits, Loans & How Banks Really Operate 06:32 – The Midland, Texas Bank Failure (and the Lesson) 08:25 – Why Whole Life Is the Easier Banking System 10:21 – The Hidden Costs of Starting an Insurance Company 11:52 – Dividends Explained Through the "Energy" Analogy 12:41 – Is Infinite Banking Right for You?

📘 Want to Learn Infinite Banking? Grab Become Your Own Banker and follow along chapter by chapter. 🔗 https://www.withoutthebank.com/produc...

Have questions? Drop them in the comments — we answer every one.

🔗 Links Mentioned 📘 Become Your Own Banker — Nelson Nash 👉 https://www.withoutthebank.com/produc...