Summary of R. Nelson Nash's Becoming Your Own Banker

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#1 The banking business is the most important business in the world. Without it, all business transactions would cease to happen. The flow of money must come from a supply source, and that source is always controlled by someone or some organization.

#2 The concept of compound interest over a long period of time was the basis of my thought process. I understood that with no taxation on the build-up, I was dealing with compound interest over a long period of time with no payments.

#3 When this happens to you, you must ask the financial geniuses who recommended that you do this what you should do now. Most likely, they will tell you to sell the house. But where do you find a fool who will buy it under those circumstances.

#4 The principles of insurance are the same no matter what type of insurance you have. It requires understanding and discipline to implement, but it can change your life dramatically.

• Language: English
• Publisher: IRB Media
• Release date: Aug 27, 2022
• ISBN: 9798350018059

IRB Media

With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

Book preview

Insights on R. Nelson Nash's Becoming Your Own Banker

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 3

Insights from Chapter 4

Insights from Chapter 5

Insights from Chapter 1

#1

The banking business is the most important business in the world. Without it, all business transactions would cease to happen. The flow of money must come from a supply source, and that source is always controlled by someone or some organization.

#2

The concept of compound interest over a long period of time was the basis of my thought process. I understood that with no taxation on the build-up, I was dealing with compound interest over a long period of time with no payments.

#3

When this happens to you, you must ask the financial geniuses who recommended that you do this what you should do now. Most likely, they will tell you to sell the house. But where do you find a fool who will buy it under those circumstances.

#4

The principles