But he still got blindsided several times by the totally unpredictable ups and downs of the stock market.

Derek Logan with his newborn granddaughter

As a corporate accountant for more than 30 years, Derek realized he had set – and achieved – all of the goals he set for himself… except for the goal of being able to retire at a specific age with a specific amount of money.

Disheartened and frustrated because he was closing in on his hoped-for retirement age, but his retirement account had been decimated several times, he began to do a lot of soul searching.  He was willing to be open to other alternatives.

Fortunately, my best-selling book landed on his kitchen table as a Father’s Day gift… and the rest, as they say, is history.

Derek started a Bank On Yourself-type policy just a little over two years ago and couldn’t be more thrilled, now that he’s stopped feeding the insatiable Wall Street Casino with his hard-earned dollars.

When the market recently experienced historic levels of volatility, Derek sent me this grateful note…

As the market went down, I smiled.  Not at the anguish so many must have been feeling, but at the joy of knowing I wasn’t being affected – this time, or ever again.  I printed Thursday’s headlines (512 point plunge on the Dow) and included them in my Bank On Yourself portfolio notebook that will serve as a reminder of the best financial decision I’ve ever made, two years ago this month!”

Derek is an enthusiastic champion of the Bank On Yourself method, having shared it with over 50 friends, relatives and colleagues.  So he was thrilled when I asked him if he would share his fascinating story with you.  Whether you already use Bank On Yourself, or you’ve been considering adding it to your financial plan, I know you’ll get immense value from this fast-paced interview.  And you’ll probably identify with Derek’s frustration.

You can listen to the interview by pressing the play button below, or you can download the entire interview as an MP3 and listen on your own player or iPod…

You can also download a transcript of the interview here.

In the fast-paced and fascinating interview, you’ll discover…

• The five lies Derek realized we’ve been fed about investing (this will blow you away)
• The myth of investing in the market “for the long haul”… and why Derek now demands his savings and investing strategies give him guarantees and assurances both now and for the long term
• How Derek has already used his policy to become his own source of financing three times in the first two years of starting his plan – once again confirming how these policies are different from the ones Suze Orman, Dave Ramsey and others talk about
• Where Derek found the money to fund his plan
• Why “buy term insurance and invest the difference” is really “buy term and spend the difference”
• Why requesting a free Analysis and getting a referral to a Bank On Yourself Authorized Advisor was one of the best moves Derek ever made

You can listen to the interview by pressing the play button below, or you can download the entire interview as an MP3 and listen on your own player or iPod…

Download the transcript here

Check out these other Bank On Yourself success stories that may also be of interest to you:

• Bank On Yourself under the microscope (a Vice President of technology engineering for a major health care company shares his findings of hundreds of hours he’s spent analyzing Bank On Yourself)
• What side of the debt line are you on? (how Bank On Yourself can help people who’ve accumulated debt – as long as they are ready to change their habits)

We want your feedback!

Tell us what YOU think of Derek’s interview in the comments box below…

Since AAII said they would not publish my response or correction of the misinformation contained in their review, I told them I would publish it here and let YOU be the judge of whether AAII was twisting and omitting things… or being fair and unbiased.

The response was swift, surprising and universal.  There were so many insightful comments made that I couldn’t pick only three to award prizes to, as was my original plan.

So I picked ten (the winners are listed at the end of this post – check to see if your comment was one that was chosen).  And I’ve excerpted from a number of the comments here, so I can share some of the highlights with you.

Jeffrey summarized the thinking of many commenters about AAII this way:

AAII naturally committed the typical strategic blunders essential to the charade proposed by the investment industry (Wall Street) and financial professionals (a.k.a. traders, gamblers, speculators, etc.). Any attempt to allow people an opportunity to truly grow wealth, reduce risk, and prepare for a more stable environment challenges the status quo of buy and lose (commonly referred to as buy and hold) and then industry pundits (AAII) start the negative attacks in order to establish fear of finances and preserve their base of profits. AAII omitted important aspects of your plan, distorted facts of your plan to promote obfuscation, and blatantly twisted all aspects of your plan in order to destroy your credibility.

Thank you for presenting people with an opportunity to actually prepare, plan, and realize a better financial picture.”

Reuben echoed that by saying…

Is anyone really surprised, it’s the fox guarding the chicken house, the blind leading the blind, the king has no clothes.”

And Daniel summed it up in one sentence…

Bank on Wall Street or Bank on yourself…a very simple decision.”

One thing we know for sure about life is that it’s unpredictable – stuff happens

The only actual reason or “excuse” given in the AAII review for why Bank On Yourself is “too good to be true”  had to do with policy loans.  But the ability to take loans from your life insurance policy has proven to be a real boon, and sometimes a life saver, for several commenters…

James wrote about how his wife Verna broke her wrist a few months ago.  Even though they had only been participating in Bank On Yourself for less than a year, they were “able to borrow enough to get us through surgery, the therapy, and all the physicals that were needed to allow my wife to get back to work.”

Deana says her Bank On Yourself policy “saved me a lot of hassle, frustration and money when I needed a loan to replace a transmission on my car, pay off medical bills, purchase a much needed storage shed and buy a used car.” It also helped her after her income from work was reduced.

“Unlike a bank loan, I set up my own payment schedule and set up how much I can afford to pay back every month and when I want to pay it back,” wrote Deana, who notes she did a lot of research into the concept before moving forward.  Now she says, “as with many other people (Bank On Yourself) is the best money investment I have ever made in my life.”

Troy says “Bank On Yourself is a life saver” and “we use our policy to buy every thing from our boats to repairs for our rentals – it’s a great way to borrow money when needed, pay it back, borrow it again, and watch the cash value continue to grow.” He ends by saying, “Keep up the fight, Pam, and thank you for educating all of us.”

Rik just started his Bank On Yourself policy six months ago, but “just took a loan out for $29,000 for a down payment on a new condo.  Compare that with the hassle of taking money out of a 401k.”

Bank On Yourself saves businesses, too

Allen wrote, “I, too, used my policy to expand my business in the last few months when no banks were (and still aren’t) lending money and have had similar results with my return on investment.”

And David Brimhall started a policy in 2004, “after losing 80% of my retirement account.” His money is now doing double duty for him and he has taken 9 loans, investing some of those funds.  As a result, “I have real retirement now,” and investments making money for him.

As I noted in my rebuttal to AAII, you do not have to sell assets to use your equity in a Bank On Yourself policy to invest it elsewhere or to make purchases.  And some companies will even pay you the exact same guaranteed cash value increase and dividend as though you hadn’t borrowed a dime.

This is true for “non-direct recognition” policies, which don’t “recognize” you have taken a loan when crediting dividends.  The policies recommended by the Bank On Yourself Authorized Advisors meet the requirements that maximize the power of the concept.  These advisors also have advanced training in how to structure policies to maximize the growth of your cash value and minimize the taxes.  To get a referral to an Authorized Advisor, simply request a free Analysis that will show you how much your financial picture could improve if you added Bank On Yourself to your financial plan.

And Will posed the question…

How can you tell the difference between a Bank On Yourself user and an ordinary person?  The BOY user can buy a business with the BOY policy loan, and the non-Bank On Yourselfer can work for that business.”

Bank On Yourself lets you have a retirement income you can predict and count on

“Ahhhh – let AAII say what they may… but I know what my retirement will look like… I cannot wait to start another policy.  Keep up the great work, Pam,” wrote David.

“My hard-earned dollars have always lost money with any commodity/stock/bond type investment.  I have never had a gain except with a CD and that barely kept up with inflation,” noted Ang. “My Bank On Yourself policy gives me such security.  I can sleep at night.  It reminds me of  (the movie) ‘It’s a Wonderful Life’ – we are all banking on each other (instead of padding corporate executives’ lifestyles).”

I am thankful I found Bank On Yourself, otherwise, I may never see retirement in my future,” wrote Karen, who is starting her first policy now, at the age of 59. “Yes, I have a financial advisor and am a very disciplined investor in my 403(b) and, yes, I rode out the downturns and have not nearly recovered to this point… If I had known about this even 10 years ago, I might be looking at retirement, instead of working an additional 8-10 years.”

And William bemoaned how he lost 30% in his 401(k) between 1999 and 2001, and then another 40% in 2008 – after he had retired, because “I followed the advice of those who are paid to know and each time ‘rode it out.’ I do not want to go through any more of these ‘cycles.’”

Paul made some excellent points with this comment:

How easily people forget the lessons of history.  Our ancestors survived the Great Depression by using Cash Value Life Insurance and fixed annuities.  They didn’t use the investment vehicles touted by so many.  They relied on… the asset class so often overlooked today when all else is in flux.”

Paul also made a point I hadn’t even thought of when I wrote my AAII rebuttal – that…

Other loans must be repaid with taxable and probatable cash from elsewhere in the estate.  Death doesn’t cancel (other) debt.”

One of my favorite comments was this tongue-in-cheek response from Jim Vana…

WOW! After reading all the glowing posts about the Bank On Yourself system, I’m afraid I may have a different viewpoint. I set up plans for me and my wife and we recently received our first annual reports. But I hate to inform you, it’s no dang different!! Yes the policy loans need to be paid back. Yes interest is paid as well. And just like those typical “FAT CAT” bankers, my B.O.Y. banker is using MY MONEY to buy fancy cars, take exotic vacations and do all the other fun stuff at MY EXPENSE.  And he’s probably socking away tons of MY MONEY for HIS RETIREMENT!!!!!!! Oh wait a minute. THAT’S ME!!!!!!!! Never mind.

As for AAII, GO GET EM, TIGER!!!”

And Steve summed up the beauty and simplicity of Bank On Yourself this way: ”My Bank On Yourself plan consolidates my emergency fund, liquid savings, retirement and life insurance into a single flexible vehicle. This makes it really easy to manage my money!”

AAII gets poor marks from former members

“I joined AAII a few years back because their publicity made it sound simple and profitable.  But when I got their newsletters with investment recommendations, they left me in a fog,” wrote Val.  Park echoed that with, “I subscribed to AAII several years ago, but my eyes always glazed over trying to submerse myself into their data.”

I will confess that I delighted in JC’s comment: “I’m glad you revealed this about AAII – I had a membership application sitting on our table, and was intending to join. Due to the ‘contrarian indicator’ effect of AAII’s member surveys mentioned, and to the closed-mindedness of the organization to even print your response and let its members decide, I have decided AAII is not for me.”

I believe they call that “pay back”!

Steve may have summed it up best with this insight:

The AAII comments sound like they were drawn from the good ole’ boy tank of sour grapes.  I’m excited about Bank On Yourself, which has provided a much needed transition to a vehicle that is safe, predictable and provides not only a solid nest-egg for retirement, but also a funding pool over which I have complete control. I’ve seen nothing else that allows you to have your cake and eat it too.”

Now for the list of prize winners…

As I mentioned, there were so many thoughtful and entertaining comments to my AAII rebuttal blog post that I simply couldn’t narrow it down to just three winners. So, I decided to award 10 commenters their choice of a $25 dining gift certificate or a personally autographed copy of my best-selling book.  Those 10 winners are listed below and if your name is on the list, you should already have received an email asking you which prize you prefer.

And I want to thank everyone who commented from the bottom of my heart for your support.  I will keep fighting the good fight with your help!

We want to hear from you, too!  Just enter your comment in the box below…

Dan Proskauer

It was almost two years ago that Dan Proskauer – a Vice President of technology engineering for a major health care company who holds three U.S. patents – first heard of Bank On Yourself.

Dan lives below his means, has significant savings discipline, and is a sophisticated investor.  But when the financial crisis hit, Dan realized he had nothing to show for decades of saving and investing his hard-earned money and “doing all the right things” we’ve been taught to do.

He felt angry, betrayed… and willing to open his mind and find out if there was something better out there.

Dan is very analytical and has since spent literally hundreds of hours investigating Bank On Yourself.  He has already started seven Bank On Yourself-type policies because, as he puts it, “the more I look into Bank On Yourself, the better it looks.”

Dan recently contacted me and generously offered to share his findings with you.  Whether you already use Bank On Yourself, or you’ve been considering adding it to your financial plan, you’ll learn something of value from this interview. You can listen to the interview by pressing the play button below, or you can download the entire interview as an MP3 and listen on your own player or iPod…

You can also download a transcript of the interview here.

In this fascinating interview, you’ll discover…

• Why Dan has cut back his 401(k) contribution to what his employer matches… and why he’s considering stopping funding it altogether
• What he discovered were the problems with traditional college savings plans, and why he believes Bank On Yourself is a better option
• The surprising result of Dan’s research into the rate of return of a Bank On Yourself-type policy – and why he feels the additional “intangible” benefits make it the best way to build a financial foundation in both good times and bad
• Why Dan has seven different policies – and is getting ready to start more
• Where Dan found the money to fund his policies
• Why Bank On Yourself will hold its own against things people worry about – including inflation, deflation and fluctuating interest rates
• The two downsides to Bank On Yourself that Dan found
• Why Dan believes it’s critical to use a Bank On Yourself Authorized Advisor to set-up your policy… and how getting knowledgeable, on-going coaching and advice can result in your having far more wealth over your lifetime, while ensuring you don’t lose the tax advantages of Bank On Yourself
• Why Dan – like hundreds of thousands of others who use the Bank On Yourself method – says the only regret he has is that he didn’t know about this sooner
• Dan’s advice to anyone who’s still sitting on the fence and hasn’t started yet

You can listen to the interview by pressing the play button below, or you can download the entire interview as an MP3 and listen on your own player or iPod…

You can also download a transcript of the interview here.

The more I look into Bank On Yourself, the better it looks.”
~Dan Proskaur

We want your feedback! Tell us what below what YOU think of Dan’s interview below…

It also hit #2 on the USA Today Money Best Seller list for the week ending March 28th.

If you don’t have a copy yet, you can get it today for only $9.95 – 38% off the retail price.

The hardcover edition was released a year ago and immediately hit the USA Today, Wall Street Journal and Business Week best seller lists.

Find out what all the buzz is about and learn more about this proven, time-tested way to grow a nest egg, so you can take back control of your money and finances today.

Martin Weiss, Ph.D.

Finance and investment expert and New York Times best-selling author, Martin Weiss, Ph.D., recently interviewed me. You can listen to this fast-paced and timely interview by just turning up your speakers and click here.

Dr. Weiss wrote the subscribers to his “Money and Markets” newsletter about how he had just read my book and felt it has excellent advice on “coping with low investment income in tough times.”

So, I hope you enjoy our 35-minute interview.

You can get your personal copy of my book at a 35% discount here.

Check out what T. Harv Eker, #1 New York Times best-selling author of “The Millionaire Mind,” said:

If you’re looking for more of the same conventional financial advice, this isn’t the book for you. But if you’re prepared to take back control of your financial life once and for all, Bank on Yourself is a ground-breaking method that can put you on the fast track to reaching your goals and dreams.”

As Harv noted, Bank On Yourself really isn’t the same old financial advice people have been getting everywhere else. And that’s a good thing, don’t you think?

Because look where that’s gotten us – we’re deep in the midst of the greatest destruction of household wealth in history, with no quick fix in sight.

But there IS a safe and proven alternative – Bank On Yourself – which may be is the ultimate financial security blanket in both good times and bad. Just ask Gene Pittman, who you’ll meet in Chapter 9 of my book:

“We’re using Bank On Yourself to get out of debt, to reach our retirement goals, and for our son’s college. When everyone says how much they lost in their 401(k)’s, I tell them how much my Bank On Yourself plan is growing. Once you understand this, you’ll jump in with both feet and never look back. It’ll be the best thing that could ever happen for your family.”

To hear how people of all ages, incomes and backgrounds have kept their money safe and their sanity intact during the market crash, visit our success stories page.