The ABC's of IBC Doug Mackenzie & John Fox Ward

In his book Nelson Nash uses the analogy of a story written by Jackson Pemberton, entitled “A New Message on the Constitution.” He stresses that “you are not the slave of government.” The Constitution is your servant and the master of your government. It is not only the law by which you are governed, it is the law by which you may govern your government.”

The same goes for the banking function in the economy. He points out that most people abdicate “their opportunity/responsibility” to another character on the world stage, and shows how that character in the play is making most of the money. He goes on to say “succumbing to these feelings, produces a huge burden on your financial future —- the price must be paid.”
He is plainly stating your whole life insurance contract is the “constitution” by which the life insurance company (trustee) must serve you as the beneficiary. You have a choice…take control of or be subject to the whims of your master’s desires. Become your own banker!!!
 
Connect with John Fox Ward:
Website: Nash Cashflow - The Nash CashFlow Group
Email: John@nashcashflow.com
 
Connect with Doug MacKenzie:
Website: Control Capital Solutions
Email: dmackenzie@controlcapitalsolutions.com
 
 

Don't steal the peas! If you've read Becoming Your Own Banker, your probably familiar with this adage. In today's episode we delve into the true meaning of this and discuss the importance of "being an honest banker"
"If you understand the grocery store, the rest of learning how to be your own banker is “a piece of cake!”
Becoming Your Own Banker - R. Nelson Nash
 
Connect with Doug MacKenzie:
Website: Control Capital Solutions
Email: dmackenzie@controlcapitalsolutions.com
 
Connect with John Fox Ward:
Website: Nash Cashflow - The Nash CashFlow Group
Email: John@nashcashflow.com
 
 

"The only thing that limits how much (money) you can get to is the same they tell you at the bank when you ask them, ‘how big of a check can you write’ —- how much have you put in?” 
Becoming Your Own Banker - Page 13 - R. Nelson Nash


Connect with John Fox Ward:
Website: Nash Cashflow - The Nash CashFlow Group
Email: John@nashcashflow.com
 
Connect with Doug MacKenzie:
Website: Control Capital Solutions
Email: dmackenzie@controlcapitalsolutions.com
 
 

"When taxation becomes onerous to the point where government officials sense rebellion, they always resort to the exceptions to the rule. They invented “Qualified” pension plans, 401(k)s, and IRAs. Can you believe it! 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. The natural result of such a process is a system in which the government controls everything you do, and they can, and will change their mind upon the slightest whim of the times. And they keep changing the rules so that it looks like they are trying to ‘help you out’.”
- Becoming Your Own Banker - R. Nelson Nash


Connect with Doug MacKenzie:
Website: Control Capital Solutions
Email: dmackenzie@controlcapitalsolutions.com
 
Connect with John Fox Ward:
Website: Nash Cashflow - The Nash CashFlow Group
Email: John@nashcashflow.com
 
 

A note on social security sourced from zero hedge:
"The program's payouts have exceeded revenue since 2010, but the recent past is nowhere near as grim as the future. According to the latest annual report by Social Security's trustees, the gap between promised benefits and future payroll tax revenue has reached a staggering $59.8 trillion. That gap is $6.8 trillion larger than it was just one year earlier. The biggest driver of that move wasn't Covid-19, but rather a lowering of expected fertility over the coming decades." - Stark Realities


“Note that spending the money to teach Susie “banking” through the use of dividend-paying (whole) life insurance instead of sending her to Vanderbilt and then to medical school:
1) eliminates the need to establish a retirement plan of any kind
2) eliminates the concern for whether Social Security will survive or not (it won’t!).”
- Pg 77  Becoming Your Own Banker - R. Nelson Nash


Connect with John Fox Ward:
Website: Nash Cashflow - The Nash CashFlow Group
Email: John@nashcashflow.com
 
Connect with Doug MacKenzie:
Website: Control Capital Solutions
Email: dmackenzie@controlcapitalsolutions.com
 
 
 

"At this point, we turn to the matter of ownership of the policy (or policies). The company, a corporation, should not own it. He can improve the wealth building effects of the whole scenario by owning the policy, himself, and lease the equipment to the corporation, making sure that he has charged a lease payment that is the highest possible. By doing it this way, he can have an interest deduction for the policy loans used to purchase the equipment (the loans are for the leasing business purpose). He can depreciate the equipment over a reasonable time, and he has a “captive customer” to lease the equipment that is sure to make the lease payments.” - Becoming Your Own Banker - R. Nelson Nash


Connect with Doug MacKenzie:
Website: Control Capital Solutions
Email: dmackenzie@controlcapitalsolutions.com
 
Connect with John Fox Ward:
Website: Nash Cashflow - The Nash CashFlow Group
Email: John@nashcashflow.com