Please see the below resources for additional information on Cash Value Banking with Whole Life Insurance. Books are listed in the order I think they should be read.
This is the book that started it all. In this book, Nelson Nash lays out not only the basic framework of using whole life insurance as a means of performing your own banking functions, but also the business theory behind how and why it works.
This is an excellent book to really look at the numbers behind typical retirement plans and cash value banking with whole life insurance. Burnell really brings to light some of the faulty reasoning behind today’s mainstream financial planning.
The #1 personal finance book of all time. Kiyosaki retells his true story of growing up with “two dads.” His real, highly-educated but poor dad and his friend’s successful businessman “dad,” with an 8th grade education, who taught him about how money really works.
What we do with whole life insurance meshes perfectly with three of his primary money concepts: 1) Pay yourself first 2) It’s not what you earn, it’s what you get to keep 3) Buy assets not liabilities.
Tying together Becoming Your Own Banker and How Privatized Banking Really Works, The Case for IBC spells out how a cash value whole life insurance policy can be used to strengthen one’s personal finances and investments.
Kim Butler, one of the founders of the Prosperity Economics Movement, does an excellent job of crystallizing some of the cash value banking concepts into a short read with great examples and use cases.
“[The] investments-only attitude is not the optimal way to build a retirement income plan. There are pitfalls in retirement that we are less familiar with during the accumulation years. The nature of risk changes. Longevity risk is the possibility of living longer than planned […]. Sequence-of-returns risk, and it acts to amplify the impacts of market volatility in retirement. Traditional wealth management is not equipped to handle these new risks in a fulfilling way.”
A seminal work in economics, this book will walk you through, in easy-to-read layman’s terms, the logic of various economic policies, from War to Rent Control, with the “One Lesson” applied. This is a must-read for understanding the universal economic principle of opportunity cost.
Software and Tools:
YNAB (“You Need a Budget”) is hands-down the best budgeting software available today. The others in the market (mint, personal capital, etc) are great tools for seeing your overall financial picture, but they are not true budgeting solutions. YNAB uses the age-old “envelope” strategy and gives every dollar a job, every month. They also have an excellent educational platform to help you learn how to budget.
Truth Concepts is an advanced software suite used by financial professionals to analyze various various scenarios using Economic Value Added (EVA) principles. They do have a stand-alone real estate analysis tool that many investors would find useful.
We currently have 7 detailed videos with financial calculator walk-throughs of different topics such as 401Ks, financing, life insurance, and college education. These videos can be found here ->
Our mission is to help your family and/or business realize its full financial potential. We help identify areas where money is getting away from you in the form of opportunity cost (taxes, fees, inaccessible cash) and bring that money back under your control.