Community Is Rare
If you tune into the podcast regularly, you know I love diving deep into the philosophy of the Infinite Banking Concept (IBC). Today, I want to talk about something that has been heavy on my mind and my heart lately.
It comes from my absolute favorite page in Nelson Nash’s Becoming Your Own Banker: Page 65.
This page addresses the single most common question people ask once they realize the power of IBC: "I see the sense in this. But how do I get started?"
Getting started isn't just about writing a check. It’s about a fundamental shift in how you live and think. Here are the core principles Nelson outlines for getting started, and what they mean for your journey.
You Must Have a Burning Desire
Nelson is very blunt on page 65. He writes:
"The most important word that comes to my mind is desire. Without it, you probably can't do it... a commitment to get out of financial prison must be a burning passion."
It takes a burning passion to stop purchasing things simply at the lowest price and start looking at the cost. Let me give you an example.
If you pay $100 for something and it lasts two years, but you could pay $200 for something that lasts six years, which is the better deal? The $200 item costs twice as much up front, but it lasts three times as long! You have to be willing to look past the immediate price tag to see the long-term cost.
Properly designed whole life insurance is the only tool that allows you to control the banking function in your life to the maximum degree. But if you don't have a burning desire to control your own financial world, you will eventually view your premium as just another expense. You must want the freedom of not having to ask a commercial bank for permission, or suffering their repayment terms and liens.
Find the Right Coach (and Trust Your Gut)
Nelson strongly recommends finding a life insurance agent who is thoroughly familiar with IBC to act as your coach. I cannot stress this enough: Having a good agent is crucial.
It doesn't matter how great the insurance company is, how perfectly the policy is designed, or how much you read. If you don't have a good agent to coach you through the friction of life, you are going to get frustrated.
But here is the hard truth: just because someone is a great agent for someone else doesn't mean they are the right agent for you. I am licensed in 26 states and have clients all over the country who love doing this with me, but I am the first to say it: Infinite banking is for everybody. Michael Duryea is not for everybody. You have to trust your instincts. Whether it's an IBC agent, a lawyer, a CPA, or a business partner, if your gut is telling you "no," listen to it. Find someone who understands the concept inside and out, and whom you genuinely trust and connect with.
Content is Common. Community is Rare.
This is the heart and soul of what IBC is all about to me. It's about family, friends, relationships, and togetherness. Nelson urges readers to organize or join a "Wealth Club"—a community of like-minded people working their way out of financial darkness.
My good friend Jesse recently told me, "Content is common, but community is rare." There are a million ways to make money and endless financial ideas out there. But finding a community of people pursuing success through truth, honesty, transparency, and integrity? That is rare.
You will eventually become like the people you spend the most time with. If you want to succeed in reclaiming your financial life, you need to surround yourself with people aiming at the exact same goal.
Humility, Honor, and the Transfer of Favor
I want to share one of the most important spiritual lessons I’ve learned over the last decade. It applies to IBC, business, and life in general:
With God, we are all equally loved. But we are not all equally favored.
God gives some people incredible musical talent, some athletic ability, and others the gift of entrepreneurship. When you want to grow in a certain area—when you want more favor or success in a specific part of your life—God will inevitably bring someone into your life who has that exact anointing.
And here is the catch: that person will probably have views you disagree with. They will have habits you don't like or blind spots that frustrate you.
God is asking you to be humble. He is asking you to realize that you have blind spots, too. To step into the favor and blessing that someone else carries, you have to honor them. You have to put yourself under their authority and learn from them, even when it's uncomfortable.
As my friend Steve Petermeyer wisely says, human beings are always looking for what is safe, comfortable, and familiar. But God rarely calls us into the comfortable. He calls us into what is unfamiliar and challenging because that is where growth happens.
Above All: Get Started Now
The famous author Wendell Berry once wrote that we should plant sequoia trees. You are never going to see them at their full glory—who cares? Plant them anyway. Infinite Banking is exactly like that. You have to have the burning desire to plant the tree, even if you don't get to sit in its full shade.
Nelson’s final piece of advice on page 65 is simple: Get started now. The longer you wait, the more you penalize yourself. If you are older and established, look into starting policies for your grandchildren to give them a head start. If you are young and feel like you don't have the money, start with $100 a month. It is better to start small today than to wait for the "perfect" time later.
It is not the dollars that cost you; it is the time.
Don't waste the time. Find your desire, find your coach, find your community, and start planting your sequoias today.
