2022 Banking With Life — Live Event

October 15th, 2022

As the time approaches for the 2023 Banking With Life client only live event, it occurred to me that I have not shared my takeaways from the 2022 event.

Me (left) with Ryan Griggs of Griggs Capital Strategies (right) after the 2022 BWL Life Event

First of all, it was wonderful to be in the same room, building relationships with other like-minded people from all over the country (seriously, there was an attendee from Alaska). I greatly enjoyed hearing other peoples stories of, not only how they discovered IBC, but how IBC has impacted their lives. There were also several guests from the Banking With Life Podcast in attendance.

Most of what I wanted to share in this article are some of my key takeaways from the speakers, Dr. Paul Cleveland, James Neathery, and Ryan Griggs.

May it be helpful for you in your journey of learning about and expanding your knowledge of Nelson Nash’s Infinite Banking Concept.

Dr. Paul Cleveland:

• Do what your good at, and be aware of what you’re not as an opportunity to involve others in your life.
• Labor is the foundation of an individual’s Private Property.
• Competition produces excellence.
• Critical Theory — must first make people believe lies that they are oppressed by others (create division among people) before convincing them to join their “revolution”.
• Charity — voluntary sacrifice motivated by love. We have involuntary sacrifice motivated by fear.
• Rational conversations cannot happen irrationally. Common ground/knowledge must be established first.

10 Planks of Communism:

1. Abolish Private Property
2. Institute heavy, progressive income tax
3. Abolish the right of inheritance
4. Confiscate the property of emigrants and rebels
5. State control over transportation and media
6. Institute central economic planning
7. Establish a National Bank
8. Regulate and control labor
9. Destroy the distinction between town and country
10. Establish free government school

Ryan Griggs:

• The money supply typically has not decreased throughout history. But when money expansion slows from a period of aggressive expansion, the yield curve tends to invert, and a recession tends to happen.
• Productivity (of people & capital) in a free market can compensate for inflation.
• Inflation transfers purchasing power to early recipients of the new money, diminishing standards of living that create dependency and increasing debt.
• “Investments are extensions of YOU!” (This may be my favorite quote from the event)
• We don’t see “opportunities” because we don’t have the ability yet. Preparation provides the abilities. (This reinforces a biblical financial principle that I have taught that we should “Lend/Invest according to our abilities”)
• Decrease in money supply, coupled with the slowing or stopping in velocity of credit expansion, is a recipe for substantial economic contraction for those areas dependent upon credit.
• The “bad guys” use these products/strategies (IBC, life insurance, etc.) too; will they kill their own “goose”?
• The economy is made up of only two things: Labor & Capital.

James Neathery:

• 3 Life Phases of IBC: Capital Formation, “Banking” Mastery, & Passive Income.
• The retirement withdrawal rule of 4% may now be as low as 1.9% to maintain consistent lifetime income.
• When telling others about IBC, you can’t want them to do it more than they do for themselves.
• As an IBC Practitioner teaching other about IBC, strangers will come before the people closest to them.
• The financial system will be nationalized at some point. Mutual companies are not for sale unless they are demutualized. The government will go after the easy money first.

Again, these points are but a few valuable insights from this great event. I look forward to sharing with you my takeaways from the 2023 event.

Blessings to you!