E161: Is Infinite Banking Concept Really Practical and Worth Your Time?

Nate: In this episode, I answer the question, why is it so difficult to get people interested in the infinite banking concept? I’ll offer suggestions to you that may help you successfully discuss IBC with the people around you. And if you’re new to IBC and are trying to figure out if this is a worthwhile endeavor for you, answering this question will help you understand why IBC can feel so difficult to comprehend to its fullest. Welcome to Dollars and Nonsense. If you follow the herd, you will be slaughtered.

All right. Well, it’s great to be back with everyone today. So excited for this show as always. This is Nate. I’m taking it solo again to answer this question. And some of these solo episodes that I’m doing are really just to dive in a bit deeper to some concepts than we do in our regular biweekly show that we do with Holly and me both. So just kind of keep that in mind. I’ll be doing some off-week episodes, whether I’ll be interviewing new guests, maybe or doing a solo to answer a question.

And if I sound a bit stuffy, it’s because I’ve had a cold this week. But with that being said, “This is a question, why is it so difficult to answer or to get people interested in infinite banking?” It’s a question that comes up quite often and it’s something I’ve been thinking about quite a bit and probably more so lately than ever before.

I think that how I’m going to answer this, so for those of you who are already practicing IBC and may have tried to tell people, you’ve probably run into this before. And for those of you who are new to IBC, I think that answering this question can help you by the way. As I brought up in the intro, I think it can help you understand why IBC feels odd. Okay? So IBC can feel odd and it can feel salesy, and it can feel too good to be true. It can feel gimmicky. I’m here to explain all of this if I can in this show. 

I come into this with essentially no notes. I may write down the introduction, but once that’s done, there’s no notes. So I may ramble a bit, so please pardon me for that. So either side of the spectrum has a lot to gain from this episode. And whenever we dive into it, people ask me this question quite often and people run into this problem quite often because it’s very natural when someone has adopted this concept. They’ve done the research, they’ve started a policy. The rate is spread, the news, spread the gospel of IBC.

They attempt to do so and it is so often that they get turned down and shot down. That can be discouraging. It can be discouraging for a couple of reasons as well, which we’ll get into. So it can be discouraging and there’s a right way and a wrong way to do it. But if you’ve ever spoken with me, you know that I don’t give simple answers to simple questions and it’s a problem, but I’m addicted to it.

So I’m addicted to trying to answer every angle around a question. So I wanted to not only just give you ideas for how to make suggestions, that would be the easy route for this episode, I’m actually here to say that the reasons why I think it can be so difficult to spread this and why it’s taken so long for infinite banking to start becoming more mainstream. It is becoming more mainstream, by the way. So let me give out a few points just right off the beginning.

Number one, infinite banking can be difficult to spread because the words you use to describe IBC can oftentimes sound salesy. And by the way, to answer the question why is it difficult to comprehend, especially if you’re new to this because there’s a lot of content online that is salesy content, that is actually doing a disservice to IBC. On the flip side, there’s also content that over simplifies and focuses too much on some analytical pieces of the policy where it also produces confusion and is unhelpful as well. So there’s a lot of content out there that’s very difficult to weed through and it can sound very salesy.

Some of the terms we use can sound salesy. I’m going to dive in. The number one reason why infinite banking can be hard to spread. By the way, I’m trying to hit both people. So the people who are existing clients of ours and the people who love IBC, who are trying to tell people and are feeling discouraged. And on the flip side, also, the people who are trying to learn about it. You always feel like you understand a lot of it, but you always feel like there’s something about it that you can’t quite put your finger on.

So you’re wondering if that means this is a scam or some sort of gimmicky thing, or it’s not actually true because you can’t quite put your finger on it. So I think both of these things are actually pointing to the reason. And the reason why is that infinite banking requires a paradigm shift in order to be accepted.

So you’ll hear this in the infinite banking circles a lot that IBC is caught not taught. And the idea is mainly that it requires more than just facts in order to convince this. So I’m going to describe why IBC requires a paradigm shift. That would then help us answer the question of how to go about it because everything in life that requires a paradigm shift has to be done in certain ways in order to get someone else to be convinced of this paradigm shift.

So my premise for this entire concept is that the reason why it’s difficult for you to fully comprehend if you’re new to this and why it’s difficult for those of you who have been trying to tell other people what you’re doing and why they’re not accepting it is because it requires a paradigm shift. And if you try to convince somebody of something that requires a paradigm shift, you have to do it a certain way. So this is the premise.

And by the way, this podcast, I’ve had a couple clients just this last couple of weeks who have been describing to me that they’re trying to get people on board and they feel like they’re messing it up. They’re trying to get people excited about it. And they’re probably listening to the show. Garrett being one of them and Brian being another. So welcome to the show if you guys are listening. I know you guys normally do.

Brian was one of the guys who had mentioned that he’d been trying to get some buddies involved. It was kind of discouraging because he thought that they would kind of love it and they would see it the way he sees it. He goes and meets with a group of people, three or four other people, and they just didn’t like it. They thought it was weird. They didn’t want to get involved with it. And it was of course discouraging, because then he’s maybe concerned whether, “Well, is this actually a good idea?” And discouraged that he wanted these people to be running mates with him.

So that’s what this episode is really all about. So I’m going back to my premise that it requires a paradigm shift. I’m going to talk about why that’s the case. But just to start with, I’m going to mention that everything that requires a paradigm shift has to be introduced in certain ways, especially if you’re not any good at sales, by the way. I am not good at sales. I’m in the sales world. I’m just actually not very good at it and I don’t enjoy it. And so that’s one of the reasons why I think that people can bypass the normal route for paradigm shift is just by being an extremely charismatic salesperson.

And there are some extremely charismatic salespeople in the infinite banking world and they’re convincing people en-mass to join in. A lot of times what they’re saying is that is not true, but people are buying into it because of how charismatic they are. I wish that was me sometimes, but I’m not. So that being said, unless you are a charismatic salesperson, you’re going to have to go about this certain way.

And by the way, if you’re learning about IBC and you are turned off by charismatic salespeople, then you’re not going to dive in because of a charismatic salesperson talking to you. You’re going to need to go about this the way I’m about to say. So I was thinking about this on a deep level. I’m a philosophical person. I was thinking about this on a deep level in my own life, I have a paradigm. I’m a believer in Jesus Christ. I believe that he was a real person who came. I believe that he rose from the dead.

And I believe that because he rose from the dead, he’s the only person in history to predict his own death, how he would die and to predict that he would rise again. And then he claims to offer that to anyone who puts their trust in him and becomes a disciple of his. So if I choose to believe that as my paradigm, which I have, that will then filter its way down into everything that I do, that is a paradigm of mine. So the universe is seen through a paradigm where there was a guy who was alive, who equated himself with God, who called himself the son of God essentially. Essentially calling himself divine and who said that through him there is eternal life and that he would author it and it would be proven to the world by his resurrection from the dead.

That’s what he came to do. And that in him, there’s forgiveness of sins in life forevermore. So he goes out and says this and he does it. And so my entire view on life and in the universe is filtering through that paradigm, that that actually happens. So that then paints a picture of everything I see in some way that Jesus is somebody worth following and that his teachings are worth investigating because of this paradigm I have of course.

So what I’m saying is that it filters everything about me. If an atheist or a non-Christian, a non-believer or certainly an atheist, and I’m sure there’s some listening, I’m not trying to attack you. We can be best friends, without you being a Christian of course. But what I’m saying is, if they were to come to me and then try to convince me that my paradigm is wrong, they had better do it the right way or else it’s going to, of course, produce nothing at all.

And then the same is the reverse, by the way, that if I was to sit down and have a conversation with someone who was not a believer and maybe was even opposed to it, the way that you would shift a paradigm has to be done delicately and it has to be done in a certain way. What I mean by this is the only way I would relate to it and the way I think most people do, is that to shift a paradigm, you have to do some research. You’re not typically going to be sold a new paradigm.

I’m not talking about the regular bell curve of people. A normal within a standard deviation of people at the top of the bell curve are not going to be sold new paradigms. They can adopt new paradigms, but it has to be done through a process of learning and research. So if somebody was an atheist and I was going to talk to them, I would not be able to convince them in 30 minutes to an hour that my paradigm is true and yours is wrong. Of course that can’t happen except for there’s the isolated two standard deviations away from the norm, then they may be able to see things more clearly. Also, I would say that the more entrenched a paradigm is, the more the research has to be done.

So if you have a paradigm and you’re just not very tied to it, maybe you’re a Christian, maybe you’re a believer, but you’re just not really that confident, well, then it wouldn’t take that much to maybe get you to shift. But the more confident you are in your paradigm, the more delicate you have to take the scenario.

And so the same thing goes for the atheist as well. In other words, I would not expect someone who is staunchly an atheist who of course doesn’t believe like I do or has the same paradigm that I do of the universe who must obviously believe that Jesus was not divine, Jesus did not rise from the dead, and there is no spiritual realm. If that is a staunch belief, of course, we’re going to have a conversation and convince each other of changing your paradigm and you’re wrong?

I mean, obviously it’s ridiculous. And so what I’m saying is every time there is a relatively strongly held paradigm that someone comes in with, if you’re going to convince them or try to introduce a different paradigm that you believe improves their situation somehow, it’s got to be done delicately. Normally, it has to be done through them having enough desire to research it on their own. So that’s the same thing if I was going to get convinced that my paradigm is wrong, it would take a lot. And then vice versa for other people who are on the other side of the aisle.

So I bring this up to say, most people when they get interested in IBC, they do not require their friends and family to go through every step that they went through to get this new paradigm. And then they’re confused as to why the people they’re talking to are not that interested in what they’re doing. It’s because you are trying to give them the cliff notes version of a paradigm shift that can only come through someone taking a delicate time through research to change the paradigm.

That’s the big problem in the infinite banking community as well. Now, IBC is not as a big of a paradigm shift as religion. That was the extreme. IBC was a much smaller paradigm they’d have to shift, but it has to be taken the same way. And so with infinite banking, most of the time the people run a foul of this when they decide to try to talk to somebody with the cliff notes version. They’ll paint it with numbers. They’ll paint it with policy illustrations. They’ll paint it with little vague ideas and then people will automatically shoot it down the same exact way that if someone was trying to convince me that atheism is correct and they throw me some little one-liner, some little punchline, some little things, it’s not going to do anything to me.

It’s going to have to take me being willing to dive into some evidence. And so on a much bigger scale. I mean, obviously, the IBC paradigm is not going to be as life transforming as getting saved, and completely changing your idea about the fundamental realities of the universe. So I’m aware of that, but I’m saying to the extreme. So here’s my suggestion to the people who are listening to this.

So number one, to the people who are listening to this, trying to actually tell people around them about IBC and get them interested. You cannot get anybody interested if they’re unwilling to learn about it on their own unless they like to be sold things, unless they’re easily sold or unless you have a huge amount of trust. In other words, they trust you so deeply that anything you tell them to do, they will go after it because they love you, they trust you so deeply.

So there are certain relations. I’m just saying the average relation, the average person you’re going to talk to. This is why we tell every agent who joins us, by the way. So we have agents who are spreading the news as well. They want to become an agent. By the way, if you’re listening to this and you’re a client of ours and you’re interested in telling people and getting paid to do so, feel free to talk to me. But what I’m saying is everybody who comes on and says, “I want to teach IBC,” it would be a huge mistake to go out in the world and just start running life insurance policy illustrations and handing them to people, and trying to sit down for coffee and throwing numbers and ideas at them.

What we always suggest you do is you have to simply give enough info where the whole point is to get them a resource in their hands with any sort of paradigm shift that would take place. Research has to be done. You cannot do it without research. And so the reason why I think that IBC requires a paradigm shift, and it comes in multiple ways, this is why we’ve always said, you need to read Nelson’s book. You need to listen to this podcast. Go consume a lot of episodes. You need to take the beginner’s course.

Anyone who’s going to get started with this and wants to join IBC should change their paradigm first. And so to do that, it can’t be a simple little conversation and it can’t simply be a run of numbers. Oftentimes, it involves you telling your testimony. That’s a common paradigm shift advice by the way. You tell your testimony what it’s doing for you. I switched my paradigm and I’m getting these results. I’m really liking them. Maybe you would like them too.

Don’t go into numbers, don’t go into the analytics. Here is some resources if you would like to learn about this new way of building wealth. That’s a normal route before. And I have so much to say. I’m already deep into this conversation. And so I’m going to try to get through this very quickly.

A couple more things to note, and I know I ramble. Nelson Nash, when he wrote his book, the way that he wrote his book, the book called Becoming Your Own Banker, the book that started the entire infinite banking concept as an idea, when he wrote his book, he was very careful to write it in a certain way and the way he wrote it irritates some people. Some people actually like it, but it irritates some people. Because first off, he’s not a great writer. He’s not some educated author. He wrote the way that he speaks and he speaks like a guy from Birmingham, an old timer from Birmingham, Alabama for sure.

So it’s fun to read. He’s a character and his character comes through the book. But he wrote it in a certain way because I believe he fully understood that IBC must require a paradigm shift. And that’s why in his book, he oftentimes speaks in metaphors and he oftentimes does not give answers away with concrete numbers and details. He did not write an IBC treaties on the mathematics behind why infinite banking works.

Now, of course there’s math in there, but what he was trying to paint is that this concept, this idea of becoming your own banker is deeper than just a life insurance policy and it’s deeper than just the benefits you can put on paper because he was trying to pitch it as a new paradigm. That’s what he was trying to pitch. And if you’re going to have someone shift to a different kind of paradigm, they have to think for themselves inside of that new paradigm. They cannot be force fed the new paradigm unless you’re a very charismatic salesperson or unless they’re outside the standard deviation bell curve in which case they’re looking for that type of thing.

So that’s the way Nelson Nash wrote it. He wrote it as a paradigm shipping. He would remind yourself of this metaphor when this question comes up. But go back to this page. If you’re thinking this question and that doesn’t quite make sense to you, go back to this page where we discussed this metaphor and people are like, “Ah, I don’t want to do that.” But he’s trying to help you see that it requires a paradigm shift. He’s not here to sell you on this idea. He’s here to say, this is the new way of life.

Announcer: How would you like to receive a free physical copy of Ray Poteet’s book, The Tree of Wealth: How to Build Legacy. I’d like to share with you a little about the book and Ray’s own words. “For a very long time, I was not quite sure what money was or what role it was meant to take on in my life. At the time, I treated money like many others do with an unwilling respect, a healthy dose of fear and the knowledge that there never seemed to be enough to go around.”

“Like a mirage, most people can see the wealth horizon, although getting there is something entirely different. As a Christian, money was always a gray area for me. I knew I wanted enough to be financially free at some point, but the cost of living was high and I felt like I was forced to spend everything I earned. After working hard, my reward was to be able to afford the lifestyle I had built for my family. Of course, when you’re not sure about money, it always seems to get away from you.” “That is how I felt back in those early days when I still had many money lessons to learn. The good news is that I did learn them and along my journey I picked up some incredible insight into how money works and how I could make sure that living from paycheck to paycheck would not become my eternal fate. God wants us to lead a life of abundance and that is really what this book is about.”

Now, to get your free copy, go to livingwealth.com/review. You’ll then be taken to Apple Podcasts where you can leave us a short written review. A few nice words is all we ask. Then email a copy of your review to info@livingwealth.com with your mailing address so we can send you your free copy of Ray’s great book, The Tree of Wealth. The first five people to do this get a hand autographed copy. So don’t delay. Go to livingwealth.com/review. Again, that’s livingwealth.com/review.

Nate: So a couple reasons why IBC, I put it into the paradigm shifting worldview. It’s got to be a paradigm shift. Number one, oftentimes people already are stuck in certain paradigms financially. And so the retirement idea, the of retirement is a strong paradigm. One that I feel, and it’s not exactly tied to IBC fully, but there’s more on that. In other words, you can retire with IBC too.

But I’m saying that the paradigm of retirement planning or retirement programming is so locked in that for us to present infinite banking, we’re essentially saying to them, they’re essentially bringing their paradigm with them, which is, “How does IBC help me retire?” And while I think that’s a fine thing to say, and while I think that we can certainly help with that, retirement being the ultimate and only goal for money is a faulty premise to build your financial life on to begin with.

And so that was one of the things Nelson tried to uproot when he wrote his book. So in other words, if we were to simply pitch… This is what I’m saying, the difference between pitching an idea that’s inside of your existing paradigm and how you go about that and shifting paradigms completely. I’ll give this as an example. So if we were to say… And IUL policies are sold like this all the time where it’s just a retirement plan alternative. It’s like, “Okay, you are in a paradigm customer that you really want retirement. And you are planning for this concept of retirement in the future. Come to me and I will show you a way to remain in this paradigm and just get better results, better retirement results.”

So people can pitch IBC that way. So they’ll say the IBC plan allows you to grow money without the volatility of the market. When you get to retirement age, you don’t have to worry about market collapses dropping 50% of your balance of your accounts and your 401k and IRA. You can feel safer, more secure in retirement. The policies are going to grow by four to 5%. We can spend off tax-free income from them instead of taxable income from the 401k and they will just pitch and they’ll call it IBC.

But they’ll just simply pitch this idea that it is a good retirement plan alternative. Once again, that pitch does not require a paradigm change. That pitch is just simply saying, we have a different asset to replace your current retirement program assets. And then people decide which ones they want. If you remember the last episode we did too with Holly, episode 160 and we talked about the four stages of IBC commitment in that episode.

I was trying to mention, and I think you can get the vibe, stage number one of IBC commitment actually requires no paradigm shift at all. And that’s why so many people find themselves starting out in that world of stage one commitment because it is what fits their existing paradigm. They didn’t have to change anything to go into it. So when people pitch infinite banking as a retirement program alternative, then suddenly doesn’t require paradigm shift. It’s actually easy to sell. It’s easy to understand the benefits and the cons of it and it’s easy to make a decision.

But Nelson Nash didn’t compare it that way because to him it was about a bigger paradigm that needed to be shifted. A retirement focused paradigm is super involved with people. So that means that they’re going to say, “How does IBC help me retire?” It’s a bridge that we could talk about, but I think if you just call IBC a retirement program enhancer, then I think everyone listening to this show would be quite obvious that that paradigm… Bring IBC to that paradigm will limit what you actually do with it.

And then the same thing goes if we go further. So there’s a paradigm that the rate of return of your investments is the ultimate goal. The ultimate goal is to get the highest rate of return possible in your investment. That once again is a paradigm that comes in. This is also a super common. And so whenever people are pitched IBC, that’s always their first response.

Well, what is the rate of return of the life insurance policy and how does that rate of return compare to the investments I’m making out here? And this is a paradigm that has to be shifted to IBCs, why it requires a paradigm shift because we are now presenting a new idea that the individuals had not thought of before. So if you’re listening to this, this is why you’re trying to convince yourself whether this is good or not. This is why you can feel like it’s difficult to comprehend because you have this paradigm that says, “My main goal in life is to produce the highest rate of return I can on my investments. And I’m not totally sure if this whole life insurance policy is going to produce the rate of return necessary to offset what I could have used the money to do otherwise.”

Obviously, some of you know where this conversation oftentimes goes that infinite banking is not about investing money in life insurance. It’s not meant to be focused on the rate of return of the life insurance policy. It’s an important piece to it. But what I’m saying is that it’s not actually the ultimate paradigm that you’re adopting when you come. In other words, people don’t become, or people shouldn’t practice IBC because they love the rate of return of a life insurance policy.

What IBC is trying to teach is that everything in life is financed. The banking function has its tentacles everywhere. So whether you are someone who is just living paycheck to paycheck and borrowing money from the bank to do various things with credit cards and car loans and different things and paying them interest, or you’re on the flip side and you’re an investor and you’ve got lots of money going through your hands and that are going out to buy different assets, everything requires the banking function to be taking place.

So what IBC is trying to paint itself as is that it is the ideal banking solution for almost every person and every situation. As we brought up in the last episode of the four stages of IBC commitment, there are some levels of commitment that actually are not objective anymore, that they’re subjective which means that not everybody should do them based on your own situation.

What I am bringing up is the idea having a policy as part of your life and borrowing from it to do things can actually create a world in which you’re more profitable than if you didn’t have the policy at all and you were just to pay cash for things is a difficult paradigm to shift to. But it’s the most important one to shift to that the IBC is not selling you a rate of return like an investment would.

See, I’m on Facebook sometimes and you’re getting investment ads. Come invest with me. I’ll give you 12% cash flow rate of return. All of these investment are pitched to investors by promising or hoping for rates of return to take place. IBC is not exactly doing that. It’s trying to say that you can practice IBC in a way that’s going to produce a new way to make money, which is why we call a new paradigm.

So if you try to convince people to accept a new paradigm, you can’t assume they’re already living in your paradigm. Don’t make the mistake of giving them the cliff notes version of the paradigm and expect them to do it. So what we have found, and it remains to be true is that if someone is not willing to actually research the concept, then they’re really not worth spending a lot of time with.

So if you’re not willing to research it, because it’s going to require a paradigm shift, which means you’re going to have to learn about it and you’re going to have to shift a paradigm through that process. Because it required a paradigm shift, you have to allow them to go through the same process that you went through when you came to this decision.

If you try to convince them without that same exact process and you’re wondering why it’s not working, well, it wouldn’t have worked for you in that process. There’s one more step to it as well. The third reason why there’s a paradigm shift taking place is because oftentimes people already have a paradigm. They already have a viewpoint of insurance, of life insurance whether it’s from Dave Ramsey or Suze Orman. So there are many paradigms that have to get flipped around and rethought in order for IBC to be practiced well.

I would tell you as I brought up, that there are different stages to commit to IBC, there’s different levels of commitment that you can practice IBC at. Stage one for sure actually doesn’t require a paradigm shift. So oftentimes this is where people start. And if you don’t know how to help people switch paradigms, then you’re going to have to convince people only with the discussion that would take place in paradigm number one.

But that’s the problem is that even really IBC, if a paradigm has not shifted. It’s why Nelson Nash focused so much on the way you think and people don’t like that. People want to be sold the numbers. People want to be convinced by evidence. And there is evidence out there. But what I’m saying is Nelson Nash was trying to convince people. Actually, it doesn’t really matter what the numbers are or the evidence is if you tried to bring existing thinking into IBC.

I know people don’t like when I talk like this. I also don’t like to talk like this, but I know it to be true. So sometimes you have to trust me that the reality is that a paradigm shift has to take place. For those of you who practice it well, you have shifted a paradigm. For those of you who are trying to learn about it and you’re trying to feel out why is it so difficult? Well, it’s oftentimes, it’s difficult because you are trying to bring IBC into your paradigm.

And that’s not judgemental. I’m just saying that’s what we do all the time. So if there’s a retirement centric paradigm, a rate of return centric paradigm, normal paradigms, and then you try to bring IBC and try to convince yourself, “Okay, I’m only going to do IBC if it helps me retire based on dollars and dollars out.”

So if I contribute 20 grand to a 401k or I contribute 20 grand to a life insurance policy, which one is going to help me retire? That is trying to force IBC to be a retirement program based on the paradigm you’re bringing to it. What I’m saying is I think we wish it was that simple, but it is a more complex subject that requires a paradigm shift to understand where it fits overall in your financial life.

This is one of the reasons why we also call it the gateway drug, by the way. We’ve said this over and over again and I’m loving it, that oftentimes people are attracted to IBC who either are already doing entrepreneurial hands on investment ideas with their money. In other words, they are not doing just the conventional in the box strategies that are pitched by Wall Street and banks and so forth.

They are the ones who have already shot out of the normal paradigms and are investing in different paradigms, so they’re excited to learn about new paradigms. The flip side to be the case too when we bring this up… So also, if you were in the conventional, and this was the first thing you learned about, suddenly you’ve switched paradigms once into this world and now you actually see differently about what your goals for money would be and how you’re going to achieve them. You start to become someone who takes more advantage of the various things that are out there and focuses on the more entrepreneurial style investments, which I feel are the way to true wealth.

That’s one thing we say is once you shift this paradigm… This is why we say it’s the gateway drug because suddenly it opens up a whole new world of ideas that you would not have even thought about if you hadn’t started with IBC. The vice versa could be true as I’ve brought up too, that if you were already in that world, then IBC actually becomes a cool idea because you’re already out of the conventional boxes of paradigms.

So to sum this up, the reason why it can be so difficult to get people interested in infinite banking is because it is not simply offering them a better alternative and remain in their existing paradigm about money and what their goals are and how they should think about things. So the way they think is they will try to interpret IBC as if it was just another solution to their existing paradigm.

It can be. People are doing IBC that way all the time. We have plenty of clients who didn’t switch paradigms who they just think that IBC is a better way to accomplish their existing paradigm. I would tell you that anyone who’s doing that is not going to go very far with IBC. They’re just using it as a tool to accomplish their existing paradigm. And so the reason why it can be difficult to teach other people is because you give them the cliff notes version. You give them what you think is going to convince them with some numbers and some details and some little snippets of what you’ve learned that you think are really cool that you’ve convinced yourself of.

But in reality, you were convinced through the journey of education that suddenly helped you shift paradigm and see that it was actually worthwhile for what it’s saying it’s going to be worthwhile. If you’re listening to this episode and you were someone who is trying to convince yourself whether it’s something to do or not, understand that sometimes if you haven’t made the paradigm shift yet, then it certainly can be difficult to understand why people overcomplicate.

In other words, why don’t they just compare a policy to a 401k and then I can finally make a decision? Once again, that’s based on a paradigm that the policy is a retirement program alternative. It can be, but that’s actually not what we’re preaching either. There’s a reason we’re not, and sometimes it can take a new paradigm to see that. If you think, “Why does it feel so different?” It’s because it is. We’re actually telling people that IBC helps them make money and do things differently than what their existing paradigms we’re trying to tell them they could do, which can make it a bit more confusing.

I know I’ve gone long, guys. I’m so thankful you showed up. I actually had more to say on this, but I rambled too much. But I think that the question is very common. If you want to help people around you learn about IBC, you cannot do it over just a cup of coffee unless you’re a charismatic salesperson.

They are going to need to follow a similar track to which you did to bring yourself to the point where you decided it was a good strategy. A lot of times, somewhere in there, the paradigm started to get softened and you started to see IBC for what it’s trying to be. And you’re not trying to force it to be something that you are looking for money to begin with. And that can only be done through research. Just like any paradigm shift. Any paradigm shift oftentimes needs to be treated delicately, and it can’t just be a simple little solution, a simple little change.

I do know that people are selling IBC that way on YouTube and different things. They’re just saying, “Hey, you just keep doing everything you’re always doing. Just change where the money is going and come into it.” I’m like, “Yeah, well, that’s essentially true.” But then you’re going to see people treat IBC possibly even as well as a way that it’s not supposed to be because they wanted a simple sales process.

And while you can present IBC through a simple sales process and get people excited to do it, I find their understanding level can be quite shallow of the actual meaning behind it. So I love IBC for what Nelson Nash taught it to be. I’ve devoted my life to it. It certainly is a paradigm shift. It’s taken me years to fully be confident in the shift. I hope this lesson has been helpful to you. If you want to talk to me a little bit more about this idea of the paradigm shift, and actually if you’re saying, “Nate, I have struggled talking to other people about it. What should I do?” I’m here to offer suggestions as well.

If you are new to this and you’re trying to figure out why it’s so difficult to comprehend, come talk to me and give me what your hangups have been. You can email me your hangups at nate@livingwealth.com. Email me your hangups. Email me your thoughts. I’m happy to answer them and I think we’ll have a good conversation. This has been Dollars and Nonsense. If you follow the herd, you will get slaughtered.

Announcer: Listeners, one last thing before you go, start your journey towards financial security and wealth today. Visit livingwealth.com/beatinflation. You’ll gain instant free access to the beginner’s course, Ray, Nate, and Holly made just for you. Again, that’s livingwealth.com/beatinflation.