Your Retirement at 65 Was Built On a Flawed Assumption (Ep. 253)
Without the Bank Podcast
Most people are taught to buy term insurance and invest the rest—but what if that advice is based on a massive misunderstanding of how life insurance actually works? In this episode, we break down why dividend-paying whole life insurance is fundamentally misclassified, how insurance companies really make money, and why Nelson Nash believed banking, not investing, was the missing piece. In WTB Episode 253, we continue our deep dive into Becoming Your Own Banker by Nelson Nash, focusing on mortality tables, underwriting, modified endowment contracts (MECs), and why whole life insurance behaves...
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You Already Know Enough (So Why Aren't You Wealthy?) (Ep. 252)
Without the Bank Podcast
Are you collecting financial knowledge... or actually using it? In this episode of Without The Bank, we break down two of the most dangerous (and overlooked) chapters from Becoming Your Own Banker: Arrival Syndrome and Use It or Lose It. These ideas explain why so many people stall out financially—even after reading the right books, watching the right videos, and “knowing” the Infinite Banking Concept. The problem isn’t lack of information. The problem is believing you’ve already arrived. When people stop applying what they learn, their policies stagnate, their cash flow tightens,...
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Your Kids’ $1,000 Account Has a Catch | Here’s Why (Ep. 251)
Without the Bank Podcast
Is the government really giving kids $1,000… or is there a bigger catch? In this solo episode of Without the Bank (WTB), Mary Jo breaks down the Invest America Act (sometimes called the “Trump Account”) and explains why she believes it raises serious red flags, from misleading claims by politicians to hidden tax consequences and stock market manipulation. 👉 Follow Mary Jo Here: 👉 Get the book: After reviewing the actual bill, running the numbers, and even putting it through AI, Mary Jo explains why this account is not what it’s being sold as—and why families should be...
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Your Biggest Business Problem Isn’t What You Think (Ep. 250)
Without the Bank Podcast
Most people think money problems are about income. They’re wrong. It’s about mindset, discipline, and who controls the capital. In this episode, we break down The Golden Rule: Those who have the gold make the rules — and why that changes everything. 👉 Follow Mary Jo Here: 👉 Get the book: In Episode 250 of Without The Bank (WTB), we dive deep into the mindset behind wealth, capitalism, and control of money. Drawing from Becoming Your Own Banker by Nelson Nash, we explore why living for today destroys future opportunity, how capital attracts opportunity, and why disciplined...
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The Financial Independence Trap Nobody Warns You About (Ep. 249)
Without the Bank Podcast
What if your 401(k) isn’t really your money? In this episode, we break down Willie Sutton’s Law and expose how government-controlled retirement plans quietly limit your freedom, liquidity, and control over your wealth. Follow Mary Jo Here: Get the book: In WTB Episode 249, we continue our Becoming Your Own Banker chapter review, diving deep into Willie Sutton’s Law: “Wherever wealth is accumulated, someone will try to steal it.” This episode challenges conventional thinking around 401(k)s, IRAs, Roth limits, and tax-deferred retirement plans. We unpack how taxation works, why...
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Success Doesn't Look Like You Think (Ep. 248)
Without the Bank Podcast
Most people don’t have a money problem… they have a Parkinson’s Law problem. Your expenses quietly rise, your “extra” money disappears, and the timeline for big goals keeps stretching—until one day you realize you’re working harder but staying in the same place. 👉 Follow Mary Jo Here: 👉 Get the book: In this episode, we break down the 3 parts of Parkinson’s Law and how to beat it daily—so you can redirect cash flow, build financial momentum, and stop losing every raise, payoff, or “found money” to lifestyle creep. Key takeaways: Work expands to fill...
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Whole Life vs. UL/IUL: Why Guarantees Win (Ep. 247)
Without the Bank Podcast
You’re financing everything you buy… even when you pay cash. 🤯 In this episode, we break down how to create your own banking system using dividend-paying whole life insurance, and why ignoring this might be costing you a fortune in lost interest. 👉 Follow Mary Jo Here: 👉 Get the book: MJ and Tarisa walk through a key chapter from Nelson Nash’s Becoming Your Own Banker and unpack what it really means to “finance everything you buy.” They explain how paying cash still has a cost, why EVA (Economic Value Added) changed how businesses think about capital,...
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Why You Don’t Need $20 Million to Start Your Own Bank (Ep. 246)
Without the Bank Podcast
Most people assume you need $20 million, a bank charter, a building, employees, and 10 years before a bank ever makes a profit. But Nelson Nash reveals a far simpler way to create your own banking system, one that’s been quietly working for over 200 years. 👉 Follow Mary Jo Here: 👉 Get the book: In this episode, we break down how traditional banking REALLY works, why starting a bank is nearly impossible today, and why participating whole life insurance already has all the infrastructure you need to start your own personal banking system. If you’ve ever wondered...
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Stop Chasing APR—What Really Drains Your Wealth (Ep. 245)
Without the Bank Podcast
Think you control your money because you have a 401(k), IRA, or a checking account? In this episode, we unpack the real problem in Becoming Your Own Banker: chasing rates on tiny savings while 34.5% of every disposable dollar quietly goes to interest. 👉 Follow Mary Jo Here: 👉 Get the book: We break down Nelson Nash’s “Problem” chapter: why focusing on the rate of return on a small savings slice misses the bigger issue, volume of interest flowing out through housing, autos, and living costs. You’ll see how policy loans, mutual life insurance ownership...
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Why Your Policy Fails: The Grocery Store Money Lesson (Ep. 244)
Without the Bank Podcast
Most infinite banking policies don’t fail because of the insurance company… they fail because of human behavior. Are you quietly stealing the peas from your own grocery store? 👉 Follow Mary Jo Here: 👉 Get the book: In this episode, we continue through Nelson Nash’s Becoming Your Own Banker and dive into the Imagination chapter and the famous grocery store analogy. We break down why imagination matters more than information, how to treat your policy like a real business, and why charging your own kids interest can actually build more wealth for them. If you’ve...
info_outlineFeel “broke” even though you’ve got money in savings and retirement? You might be trapped by compartmentalized thinking, paying 25–30% on credit cards while your “retirement money” sits idle.
In this episode, we show you how to see your finances as one pool of money, become your own banker, and pay yourself back, without making money more complicated.
👉 Follow Mary Jo Here: https://www.youtube.com/channel/UCXYvzroUouEMsTGKFw5nJHQ
👉 Get the book: https://www.withoutthebank.com/book/
We break down Nelson Nash’s Becoming Your Own Banker and the “97/3” insight: wealth is a skill, not a windfall. You’ll see how banking is a process you already participate in, and how to start controlling more of it. From braces and car payments to IRAs and credit cards, we show how small shifts (and an honest repayment plan to yourself) can transform cash flow.
Key Takeaways:
◦ Money is one pool, no matter how many accounts you split it into.
◦ Don’t earn 5% in an IRA while paying 25–30% on credit cards—that math loses.
◦ Becoming your own banker = borrow from your pool and pay yourself back (with interest).
◦ Wealth is a skill: discipline, tracking, and continuous learning beat lucky breaks.
◦ Control cash flow first; assets and compound growth follow.
Chapters
00:00 Why you feel “broke”: the compartmentalization trap
01:27 Becoming Your Own Banker (Intro to the first chapter)
01:58 The 97/3 rule: wealth as a skill, not a windfall
03:18 Can’t manage $1? You can’t manage $1M (cash flow vs income)
04:13 Spending leaks: Starbucks, dining out, and “must be nice”
06:16 Lottery winners & why sudden money rarely lasts
08:14 “You don’t have to change anything”… actually, you do (habits)
09:36 Continuous learning vs arrival syndrome
11:11 Banking is the most important business; money must flow
12:31 There’s only one pool of money
14:09 Using IRAs vs bank loans: the real cost of capital
15:45 We’ve been trained to think money is “complicated”
16:06 Retirement balances vs 30% cards: pay yourself back instead
18:27 Braces example: cash discount, banker hat, repayment plan
19:12 It’s not complicated—use an amortization schedule
20:23 Control the banking function in your life
21:12 Overwhelm? Start with baby steps + an advisor
22:29 Choose your hard: money stress vs money discipline
23:35 Why money problems strain everything (even marriages)
24:28 Keep learning the language of money
25:14 What’s next & how to get the books
👉 If this helped, like & subscribe for more real-talk money strategy.
💬 Drop a comment: What’s one bill you could start “paying back to yourself” this month?
📩 Questions? Email us.
Mary Jo: maryjo@withoutthebank.com
Tarisa: tarisa@withoutthebank.com
🧮 Need a plan? Use the amortization calculator mentioned to set your personal “pay-yourself-back” schedule.
📚 Get the books: Life Without the Bank and Nelson Nash’s Becoming Your Own Banker.
Links Mentioned:
Life Without The Bank and Becoming Your Own Banker
🔗 https://www.withoutthebank.com/book/
Amortization Schedule
🔗 https://www.farmingwithoutthebank.com/amortization-calculator/