2023 Nelson Nash Think Tank Recap: Infinite Banking
Every year, IBC practitioners and advisors convene at the Nelson Nash Think Tank. Here, some of the best advisors in the Infinite Banking space remember the core truths of Infinite Banking, improve their understanding and ability to serve you, and “sharpen iron.”
Bruce attended the 2023 event earlier this year, and today, we’ll share the highlights with you.
So if you wished you could have attended and would like to be in the know about what matters most for you as an Infinite Banker … tune in now!
Table of Contents
What is the Nelson Nash Think Tank?
The Think Tank is an annual event hosted by the Nelson Nash Institute to talk about IBC and connect with like minds. Prior to 2009, which is when Bruce became involved with Think Tank, the event was your typical Mastermind type of event. People in the insurance industry with an interest in IBC would get together and share best practices for running a business.
In 2013, the IBC practitioners program came to be, and the event reached its “next level,” as Bruce recalls. The practitioners’ program is a way for advisors who are interested in the Infinite Banking Concept to become certified. This ensures that advisors who use IBC strategies (and advertise such) can be held to a higher standard. That way, clients who want IBC can work with a highly qualified IBC professional.
[6:21] “[Bruce] has attended what I would call probably the most elite… conglomeration of minds that are coming together and discussing Infinite Banking.”
Preserving the Purity of Infinite Banking with the Nelson Nash Think Tank
The IBC Practitioner program was designed by Nelson to ensure that advisors who were sharing IBC with their clients were upholding it to the highest standard. Otherwise, what Nelson noticed was that people would say they promoted it, only to have incorrect ideas about how IBC worked, which was damaging the perception of IBC.
In order to be a certified IBC practitioner, you have to go through a rigorous process that ensures you have a good understanding of the concept. So if you want to implement IBC specifically, you can actually work with a certified practitioner to be confident you’re getting what you want.
The process starts with an interview, where the NNI makes sure that applicants have the right mindset for IBC. This means you understand Austrian economics, you want to solve people’s need for capital, you understand that you finance everything you buy, and you see the benefits of life insurance on a large scale.
The next step to becoming a practitioner is to take a proctored exam. Once you pass, you then go through a mentorship program where you work with a current, certified IBC practitioner. Finally, you get to become a fully certified member, which culminates in receiving your certificate at the Think Tank. As you can see, it’s an incredibly thorough process.
[15:43] “This, hopefully, enables people to find a person that was either trained directly by Nelson like I was, or by people that were trained by Nelson, to actually uphold the integrity of the actual Infinite Banking Concept, and not some of the things that are marketed as the Infinite Banking concept.”
Overcoming the Human Condition in Finances
[24:15] “Nelson actually is helping people overcome the human condition of how they handle money.”
As human beings, there is a huge emotional aspect of finance that is hard to overcome. We’re only human, and we all have to face these deep-seated emotions we have about our money. What Nelson Nash has done with IBC and his institute is to help people overcome these emotions and find a sense of control and freedom.
A good IBC practitioner will help you see the long-term effects of your money. For example, when you fund a policy, your advisor shouldn’t be pressuring you into a policy you’re unsure that you can afford. You don’t have to start with the biggest policy possible, and you shouldn’t if you don’t know how to fund it. You’ve got to think about Year 1 premiums, and every year after that too.
It’s also critical that you have good habits in place before you start your IBC policy. It’s human to spend what you have, but it’s not conducive to your banking system. Being able to make deposits and think critically about capitalizing your money is important. And starting a policy without those good habits isn’t necessarily going to help you get there. It takes discipline, and a good IBC practitioner can tell you that, and help you get there.
The ultimate goal of your advisor, whoever you choose, should be someone who helps you be a good steward of your money, and overcome that human condition.
The Conversations and Speakers of Think Tank 2023
There were many powerful discussions and speakers at the 2023 event, and all of it was really to contribute to the greater understanding of IBC within the community. The speakers helped life insurance agents reaffirm what they already knew, and get clearer on how to solve problems that are arising in the industry and the economy at large.
Some of the speaker topics covered over the event include:
- [35:48] The power of holistic tax planning
- [43:17] Benefits of mutual insurance companies
- [45:39] The power of generational wealth and legacy
- [56:00] How can the IBC community make the industry better
Book A Strategy Call
Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? We can help! Book an Introductory Call with our team today https://themoneyadvantage.com/calendar/, and find out how Privatized Banking, alternative investments, or cash flow strategies can help you accomplish your goals better and faster. That being said, if you want to find out more about how Privatized Banking gives you the most safety, liquidity, and growth… plus boosts your investment returns, and guarantees a legacy, go to https://privatizedbankingsecrets.com/freeguide to learn more.
Ready to gain a new perspective on how interest rates affect the economy? What about how interest rates and whole life insurance relate to each other? Let us illuminate Nelson Nash’s wisdom on adopting a lifestyle that resonates with the Infinite Banking Concept without stretching yourself too thin. We also stress the need to take…Read More
Ever wondered how the Infinite Banking Concept (IBC) can protect your family and boost your business? That’s exactly what our client, Marcus, shares in this enlightening episode about using IBC for business. Since 2017, Marcus has leveraged the IBC to support his ventures, from real estate and flipping properties to running two unique franchises –…Read More