Reading "Becoming Your Own Banker" Series - First Step
Step one is to read page 85 POINTS TO CONSIDER, and then the INTRODUCTION on pages 3 and 4. What this does is give you the answers to the questions that will be asked throughout the book. Why would we recommend you read the book this way? Simply because this book will challenge what you think you know about personal finance. Having the answers before you begin gives you something to relate to when trying to understand the principles Nelson is teaching. It helps you connect the dots.
Recommended Reading Order
Start with page 85 (“Points to Consider”), then read pages 3–4 (Introduction) twice.
Read pages 11–50.
Jump ahead to page 65.
Go back and reread pages 15–16 — Nelson was adamant you must understand The Grocery Store Example.
Read pages 66–85 — these pages explore how to find and build capital for your own system.
Finish with pages 51–63 (Equipment Financing Example). Don’t focus on the numbers — focus on the process of control.
Why This Order Works
Starting with page 85 gives you the answers before you start asking questions. Becoming Your Own Banker challenges nearly everything you think you know about money. Reading it this way helps you connect the dots faster and see the big picture behind IBC.
Key Takeaways from “POINTS TO CONSIDER” (Page 85)
1. There are only two sources of income — people at work and money at work.
Your savings constantly compete with your expenses because you don’t control the banking function in your life. Once you do, your deposits fund your borrowing. Your borrowing becomes your money at work.
2. Don’t be afraid to capitalize.
If you knew you’d get back everything you put into a system — tax-free — would you hesitate to put more in? Premium isn’t an expense; it’s your capital. It grows daily, and you can still access it through policy loans without interrupting growth.
3. “Annual premium should equal income.”
Nelson’s point is that all your money should flow through your own system — not someone else’s. Between premium payments and loan repayments, your income can eventually recycle through your own bank instead of the traditional one.
4. Government tax-qualified plans don’t solve the problem.
They just delay it. You can eliminate the tax problem by building your own banking system. Growth inside a dividend-paying whole life policy is tax-free — and with the right coaching, you can access it tax-free for life.
5. Wealth has to live somewhere — where do you want yours to reside?
You can choose to keep your wealth in someone else’s control, or in a system where it compounds, remains liquid, and is accessible whenever you need it — tax-advantaged and guaranteed.
6. You finance everything you buy.
You either pay interest to someone else, or you give up the interest you could’ve earned by paying cash. IBC lets you play all four financial roles — depositor, borrower, banker, and bank owner — keeping every dollar working for you.
7. Your need for financing exceeds your need for life insurance.
IBC isn’t just about protection — it’s about control. You’ll always have a need to finance major purchases. By controlling that function, you naturally build protection and generational wealth at the same time.
Key Takeaways from “INTRODUCTION” (Pages 3-4)
These first two pages of Becoming Your Own Banker set the stage for how you should think while reading the book. Nelson was intentional with every word — his goal wasn’t just to explain a financial strategy, but to challenge the way you think about money and control.
This isn’t a book about life insurance. It’s not even just about banking. It’s about how you finance the things you need in life — and more importantly, who benefits from that financing.
You’re going to finance the things in your life no matter what — cars, homes, renovations, education, business opportunities. The question isn’t if you’ll finance them, but who profits from that process. Will it continue to be the banks, or will you learn how to make it work for you?
Nelson writes:
“The Infinite Banking Concept is a major paradigm shift for most folks. It will require several thorough readings for a full understanding of its message. The concept is not complicated — it’s just different from the way the majority thinks and behaves. In fact, it is the ultimate in simplicity.”
Keep an open mind. Use your imagination. Be willing to rethink what you think you know about money. If you do, this book will completely change how you view wealth, growth, and control — not just for your lifetime, but for generations to come.
