The Money Advantage Podcast

The Money Advantage Podcast

2022 Nelson Nash Think Tank Reviewed

June 06, 2022

Nelson Nash, Father of Infinite Banking, left quite a legacy.  One of the things that he poured his life into was teaching and training advisors to serve clients with excellence.  Every year, IBC practitioners, clients, or anyone searching for a deeper understanding of Infinite Banking gather at the Nelson Nash Think Tank. There, they share ideas and recommit to the fundamentals of Infinite Banking the way Nelson taught.

Bruce traveled to the 2022 Nelson Nash Think Tank, and I'm looking forward to discussing his observations and thoughts.

So if you would like to hear some of the most important topics, issues, and trends in Infinite Banking ... tune in now!

Table of contentsWho is Nelson Nash and What is the Think Tank?The Importance of the FundamentalsPerfect Practice Makes PerfectWhat Are the IBC Fundamentals?Banking is a ProcessIBC Creates “Forced Savings”Human Nature“Don’t Steal the Peas” You Finance Everything You BuyBook A Strategy Call

Who is Nelson Nash and What is the Think Tank?

There’s an incredible amount of knowledge at the root of the Infinite Banking Concept, which was created by Nelson Nash the author of Becoming Your Own Banker. Whole life insurance itself was not a new product or discovery. However, Nelson Nash realized that there could be a greater purpose and use for specially-designed whole life insurance. He used this strategy himself and later coined the term “Infinite Banking Concept.” 

He created his books and the IBC practitioner program to help more insurance producers understand IBC. And subsequently, he created the program so that IBC could help more people. The Nelson Nash Think Tank is an annual conference for dedicated IBC practitioners to keep their knowledge sharp. It also helps IBC practitioners to identify and solve problems in the industry.

The Importance of the Fundamentals

One benefit of the Nelson Nash Think Tank, for IBC practitioners, is that it is a return to the fundamentals. In other words, the basic essentials of the Infinite Banking Concept.

In any industry, it’s easy to look forward to fresh ideas and new ways to approach business. However, the fundamentals are the basic principles that hold everything together and guide your actions. Returning to the fundamentals ensures that you continue to stay on the path, and remain true to the most basic ideas. The same is true for IBC. 

[5:25] “Everything you do in life, whether it’s learning a new skill or your own family, there should be some things that should be consistent and repeatable… Kind of like we talk about with money principles.”

Not only can refreshing your understanding of the fundamentals help you approach new challenges, but it can also help you retain a “beginner’s mindset.” When you’re an expert in a field, it’s all too easy to forget that others don’t necessarily have the same background or understanding. But if you attempt to teach someone as if they DO, things get lost in translation.

Returning to the basics in your own practice can help you more effectively teach or help someone with a beginner’s understanding of a topic. 

Perfect Practice Makes Perfect

Studying the fundamentals also ensures that you understand all the intricacies and nuance of your craft. True mastery takes time, effort, and dedication. It may seem boring to rehearse the basics, when there may be more interesting or complex things to study. However, it’s critical to know the fundamentals so well that you can recall them at the drop of a hat. 

For example, as a basketball player, the fundamentals may be to take proper care of your feet. It seems simple, trivial even. But if you buy the wrong socks, or don’t lace your shoes correctly, you can get blisters that cause more issues down the road. 

The more you return to and practice the basics of your craft, profession, or industry, the more you prepare yourself to operate at the best of your ability a...