HOW TO CREATE YOUR OWN FAMILY BANK
February 4, 2010 Leave a comment
Learn How To Create Your Own Family Banking System Using the Infinite Banking Concept™
Imagine recapturing all the money you normally pay for your car, and recapturing all the interest you paid if you financed it. Imagine making the same profits as the banking institution that financed it.
Picture your “bank” expanding as you create a system for finance for your family. See your branch banks growing as your family grows.
Infinite Banking teaches the process of using your current cash flow for finances versus traditional consumption of money methods. By integrating protection and wealth accumulation one can enhance their assets without creating additional liabilities.
How does it work? Think of it this way, if you had your own grocery store would you buy groceries from a competitor’s store? If you owned your own bank, would you borrow money from a competitor’s bank? Most people agree that if you own a business, it makes sense to fully utilize that business and all its assets for not only your business but also for your personal needs. Yet that is not generally what happens especially when we make significant purchases such as cars, equipment, and homes.
By following some simple steps you can use available savings and cash flow to build your own “bank”. You can fnance things you buy through your own “bank” with loans from your “bank” to you. You then repay your “bank” exactly the same way as you would repay the financial institution you would use otherwise. Building a system of banks increases your personal wealth.
Consider this, “we finance evetything that we buy.” We either pay interest or we give up earning interest.
Here’s the problem, the average American pays 34.5 cents of every disposable dollar to interest! And, we are not saving enough money. Currently the American savings rate is near its’ lowest in history, comparable to what it was during the Great Depression. Yet, most people are more concerned about earning interest than paying interest. Even if we were saving 10% of our income (the U.S. average is less than 3%), that would mean that our ratio of paying interest to saving is 3 to 1. Rather than fighting a head wind, wouldn’t it make more sense to create our own perpetual tailwind?
You can using the Infinite Banking Concept™. Though this concept has been around as long as the process of arbitrage, Nelson Nash was the first to explain in it in an easy to read book,
Becoming Your Own Banker™. The book details how anyone can create their own banking system using ordinary, dividend paying, whole-life insurance.
While the book has it’s skeptics, and some naysayers have even called it a scam, the process is undeniable. You will need a coach, preferrably a qualified life insurance agent that practices the Infinite Banking Concept™ themselves. Don’t expect to buy life insurance direct from the company, or ask the home office how the process works, they won’t know.
So, if you are tired of paying your hard earned money to the banks and financial institutions, and you want to recapture this interest and deposit it into your own bank, then read the book. You’ll learn the basics, see lots of examples of how you can use the concept, and understand what it means to be an “honest banker.”
You can purchase the book Becoming Your Own Banker™ here: http://www.legacyinsuranceagency.com/byob
Stop Paying Interest and Start Earning Interest Now! The possibilities are infinite…
Until next time,
Barry Page, RFC
Barry Page is a Registered Financial Consultant and Infinite Banking Coach. He is a licensed life insurance agent and principal agent at Legacy Insurance Agency, PLLC. He publishes www.legacyinsuranceagency.com and http://personalfinanceandinsurance.blogspot.com