Six Questions for everyone to answer related to their journey with IBC

Purpose of the Session

• Encourages clients to pause and reflect

• Sharing helps validate progress and inspire others

Question 1: What was the reason you started Becoming  Your Own Banker (starts at 1:47 mins)

• Wanted control of finances and cash flow

• Frustration with government retirement plans (e.g., RRSPs)

• Discovered Nelson Nash’s book and the freedom it offers

Question 2: What challenge have you had to overcome with your Family Banking System? (starts at 5:42 mins)

• Initial discomfort with debt and borrowing

• Lack of transparency on insurance policy values

• Mental block around putting more money into policies

• Navigating IBC as a self-employed person

Question 3: What recent win have you had with your Family Banking System? (starts at 9:06 mins)

• Replacing vehicle financing with policy loans

• Moving kids from Universal Life to Whole Life

• Hitting desired efficiency ratios (like EDO targets)

• Taking over a mortgage via the policy system

Question 4: What’s your favorite Nelson Nash Golden rule and why? (starts at 12:37 mins)

• “Don’t do business with banks” – regain control

• “Don’t steal the peas” – always repay your system

• “Be prepared for windfalls” – use opportunities wisely

• “Rethink your thinking” – challenge old beliefs

Question 5: What teaching from Nelson’s book stood out? (starts at 16:56 mins)

• “Think long range” – the long game of wealth

• “He who owns the gold makes the rules” – control is key

• “Uninterrupted compounding” – losses in traditional investing

• The tailwind analogy – power of financial momentum

Question 6: What’s a book you’ve read recently? (starts at 19:39)

• Family Banking with Purpose – Chris Bay

• The Gap and the Gain – Dan Sullivan

• The Road Less Stupid – Keith Cunningham

• Rich Dad Poor Dad – Robert Kiyosaki

• The Go-Giver – Bob Burg

• The Holy Grail of Investing – Tony Robbins