In the forward to the Prescription for Wealth, R. Nelson Nash the author of Becoming Your Own Banker states that the Prescription for Wealth is the “perfect ‘precursor’ to my own book, Becoming Your Own Banker –The Infinite Banking Concept. Before reading my book, one should first read Prescription for Wealth by Dr. Tomas P. McFie!” As gracious as that statement is, Prescription for Wealth was written to tell a simply story, a story in common English, of how money came to be and why it is important to learn how to manage it instead of letting others manage it for you.
The book builds on the idea that everything that one purchases in life has an interest cost associated with it. Either you pay interest to others when you use their money or you lose interest you could have earned had you not spent your own money. The cost of interest is ever present. Yet when using the cash values of participating whole life insurance there is a way that you can “recover” some, if not all, of the associated cost of interest in your life and be able to use it for you own purposes. This is what the Prescription for Wealth explains to the reader how to accomplish.
Throughout the book the goal remains the same: Stop losing money that you don’t need to lose by becoming the one who finances the things you purchase in life. The more you manage to accomplish this simple endeavor the richer you will become. And you should become rich because you ought to be able to keep more of the money you earn in your life, not less, so that you can accomplish the noble goals you have.