This is third article and the last on the different "layers" that are working together (and independently) to keep most from understanding and implementing the Infinite Banking Concept. The first layer, the government layer, is most recognizable because it involves taxation. The second layer, the corporate layer, is not as easily recognizable because it involves strategies by corporations that transfer wealth from you to them periodically and predictably. Most become polarized at this point and want to blame the government and/or the corporations for their lack of savings, security, and wealth. I assure you that they are doing nothing wrong! Will Rogers once said, "The problem in America isn't so much what people don't know; the problem is what people think they know just ain't so."
The "Human" layer is actually easy to understand. It simply involves our ability to choose. CHOICE is a gift given to everyone by God. No one can take it away from you except God. It's very difficult to recognize this layer because most people don't like to admit that they make mistakes and most people don't hold themselves accountable for their situation. The CHOICES we make create our reality. We can overcome the government layer by choosing to use our votes appropriately and choosing to place our money in tax free assets. We can overcome the corporate layer by choosing not to fall for clever marketing strategies and as it relates to our finances we can choose to cap our lifestyles which will naturally eliminate the waste of money. When people ask what we do at 1st Consultants, we like to tell them that we help people find money that they are giving away unknowingly and unnecessarily. We know this to be truth because not only do we see it every day, we know people make CHOICES that create the situation.
Nelson Nash, in his book, Becoming Your Own Banker, lists several "Human" problems that we encounter every day. I will attempt to paraphrase them:
- Parkinson's Law. Northcote Parkinson was a British essayist and economist who documented observations on the behavior of individuals within a group in his book Parkinson's Law. One observation he noted was that "work expands to meet the time envelope allowed." If someone is given 3 days to complete a job, the work will be completed late on the third day. If another person is given 7 days to complete the same job, the work will be completed late on the seventh day. Work expands to meet the time envelope allowed! He also observed as it relates to our money that "expenses rise to equal income." Think back to the last time you received a pay raise. Were you able to save more than you before or did your lifestyle increase to consume the additional income? Expenses rise to equal income! Mr. Nash states, "If you can whip Parkinson's Law you will win by default because your peers can't do it." Your CHOICE is to whip Parkinson's Law or be whipped by it.
- Willie Sutton's Law. Nash explains that Willie Sutton was a notorious bank robber in our nation's history. When asked why he robbed banks, he replied, "That's where they keep the money." Sutton's law simply states, wherever wealth is accumulated someone will try to steal it. If you need to be reminded who the biggest thief in the world is, please refer back to my earlier article on the government layer. Mr. Nash states, "The lawmakers create a problem by spending money that they do not have which results in strangling taxation - and then they create a "solution" in the form of an exception to the rules they created." Your CHOICE is to believe your vote makes no difference or believe that your vote makes all the difference.
- The Golden Rule. Those who have the gold make the rules! Nash writes, "The common man has become so infatuated with living for today that the importance of saving—of creating capital—is all but a lost value. As a result someone else must provide the capital that is necessary to sustain our way of life. This strategy carries with it a very high cost, and we all suffer the consequences." Your CHOICE is to create a pool of capital that you own and control or borrow from another's pool of capital and pay the price.
- The Arrival Syndrome. This is when people (and organizations) stop learning, stop growing, and start rotting. Common phrases that indicate the arrival syndrome are, "That's how I've always done it" and "I'm already doing that." Daniel Boorstin, a historian, once stated, "The great obstacle to discovering the shape of the earth, the continents, and the oceans was not ignorance—it was the illusion of knowledge." TS Eliot once quoted, "We shall not cease from exploration, and the end of all our exploring will be to arrive where we started and know the place for the first time." Your CHOICE is to expand your comfort zone by learning and growing or let your comfort zone confine and define you.
- Use it or lose it. This simply means that there is always a tool or a solution that will help you overcome a challenge. You must use it or lose the ability to use it. The Infinite Banking Concept is one of those tools and one of those solutions. Your CHOICE is to use it or lose it.
Recognizing and understanding how the government, corporate, and human layers influence our CHOICES on the implementation and utilization of the Infinite Banking Concept is paramount to overcoming a lot of the obstacles associated with it. We at 1st Consultants are also here to help you overcome these obstacles as well. Albert Einstein once said, "Imagination is more important than knowledge. . .it is a preview of life's coming attractions." God gave you a CHOICE and that CHOICE is to believe or not to believe.
Learn more about IBC by purchasing Nelson Nash's book, Becoming Your Own Banker. Buy it here: