Infinite Banking Concept Founder
About Nelson Nash
R. Nelson Nash (1931-2019) was a financial visionary best known for developing the Infinite Banking Concept (IBC), a personal finance strategy that advocates using whole life insurance policies as a means of controlling the banking function in your life. Born in Georgia, Nash earned a degree in forestry from the University of Georgia in 1952. He then began a 10-year career as a forester for private landowners. After serving as an artillery officer in the U.S. Air Force, Nash transitioned to a career in real estate development and then later into financial services. He spent over 35 years as an agent for several life insurance companies, where his insights into personal finance and life insurance culminated in the development of the IBC.
Early Career and Influences in Developing Infinite Banking
Nash’s early career involved working in the forestry industry allowed him to see how to perpetuate a forest’s growth, creating a continuous passive income for the landowner that could be passed on to their children and future generations.
He later (1970’s and 80’s) learned about leveraging bank loans to develop land and then commercial real estate where he made considerable profit using the bank’s money (OPM) up until Reagan won the Presidential election and raised interest rates to curb inflation. Nelson was caught in this rising interest rate (8% to 22%) change and found himself in trouble owing approximately $500,000 on interest in properties he owned. Most of his colleagues who had been doing the same thing filed for bankruptcy.
Nelson did not take this easier way out. He got down on his knees and prayed for an answer. It finally came to him that he should be paying more toward the Whole Life Insurance policies (his brother had been selling him for a number of years) growing cash value and pay the banks he owed the minimum to keep them at bay.
He then took loans from the insurance companies (he owned multiple policies) and paid the banks off, taking control of his debt. In total it took him 17 years to pay all this off.
Early Career and Influences in Developing Infinite Banking
Nash’s early career involved working in the forestry industry allowed him to see how to perpetuate a forest’s growth, creating a continuous passive income for the landowner that could be passed on to their children and future generations.
He later (1970’s and 80’s) learned about leveraging bank loans to develop land and then commercial real estate where he made considerable profit using the bank’s money (OPM) up until Reagan won the Presidential election and raised interest rates to curb inflation. Nelson was caught in this rising interest rate (8% to 22%) change and found himself in trouble owing approximately $500,000 on interest in properties he owned. Most of his colleagues who had been doing the same thing filed for bankruptcy.
Nelson did not take this easier way out. He got down on his knees and prayed for an answer. It finally came to him that he should be paying more toward the Whole Life Insurance policies (his brother had been selling him for a number of years) growing cash value and pay the banks he owed the minimum to keep them at bay.
He then took loans from the insurance companies (he owned multiple policies) and paid the banks off, taking control of his debt. In total it took him 17 years to pay all this off.
He ended up owning many of the properties and also the policies that resulted in a large cash value amount, available for whatever he chose to do with it. He became the bank for himself and his family through this experience.
During this time he also became a life Insurance agent and began sharing this strategy and concept with family friends and colleagues.
Influenced by the Austrian School of Economics and thinkers like Ludwig von Mises and Friedrich Hayek, Nash developed a unique perspective on wealth creation and management.
His experiences with high-interest loans and the financial challenges of managing his own finances sparked the idea that individuals could “become their own banker.”
Nelson Nash’s Personal Journey and the Lasting Impact of the Infinite Banking Concept
The Infinite Banking Concept
In 2000, Nelson published “Becoming Your Own Banker,” a seminal work and compilation of notes taken over the years that introduced the Infinite Banking Concept.
The book outlines how individuals can leverage whole life insurance policies to create their own banking system(s), thus gaining control over their finances, avoiding traditional banking fees and interest, and creating a tax-advantaged method for growing and accessing wealth.
The concept emphasizes the importance of cash value in whole life insurance policies and how policyholders can borrow against this value to finance major purchases, investments, or other financial needs.
Legacy and Impact
Nash’s teachings have had a significant impact on the financial planning industry. He founded the Nelson Nash Institute to promote the education and application of IBC.
His work has inspired countless financial advisors and individuals to rethink traditional banking and financing methods, advocating for greater financial independence and control.
Quote:
“One is in need of financing things much more than a death benefit.”
—Nelson Nash
Personal Life
Nelson Nash was known for his deep Christian faith, commitment to family, and passion for teaching. He was a frequent speaker at financial conferences and seminars, where he shared his insights and philosophies on personal finance.
When you asked Nelson a question about IBC he would many times answer it with a question back to you, so as to get you to THINK it through for yourself, and own that knowledge.
Nash passed away in the spring of 2019, leaving behind a legacy of innovation in financial thought and practice that continues to grow in influence in the field of personal finance.
Proud to be Listed on the Nelson Nash National Practitioner List
As a practitioner on the official Nelson Nash National Practitioner List, I proudly serve clients in Iowa and across the country, helping them harness the power of the Infinite Banking Concept. It is my joy to guide you every step of the way toward achieving financial independence and becoming your own banker.
Learn more about my story and discover why so many in Iowa and beyond trust IBC for financial freedom.
Don’t just take my word for it—read testimonials from clients who have successfully transformed their financial futures with IBC
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