See Testimonials and Reviews About Bank On Yourself on Our YouTube Playlist

In their own personal YouTube reviews of Bank On Yourself, actual users of the Bank On Yourself strategy describe the different ways they use this flexible tried-and-true financial resource. We’ve collected some of these reviews in our YouTube Bank On Yourself Reviews Playlist.

Perhaps you want to be able to seize an unexpected opportunity that requires ready cash, or pay off student and credit card debt, take a once-in-a-lifetime vacation, finance the purchase of an automobile, or even underwrite the crowdsourcing of a church major fundraising campaign. These Bank On Yourself reviewers tell you how they did it.

And just as they did, you’ll find that borrowing against the cash value of your permanent life insurance policy is a quick, affordable, and simple way to get the cash you need in just a few short days, with no questions asked.

Bank On Yourself Reviewer Uses a Policy Loan to Help Fund a Last-Minute Adoption

Opportunities come in various forms, don’t they? Out of the blue, Greg Gammon got a call from his stepbrother, letting him know they wouldn’t be able to keep the baby girl they were expecting in four days, because of a difficult personal situation. They didn’t want a stranger to adopt her. Would Greg and his wife Christy consider becoming her new parents?

Greg and Christy didn’t have to think twice before saying yes. But they realized there would be fees involved in the adoption. Greg’s alternatives weren’t very good: He might be able to put the fees on a credit card, but he’d need to get an increase on his credit limit. Taking out a home equity line of credit would be tough because the real estate market was in the toilet.

So Greg and Christy called their Bank On Yourself Advisor, who handled the simple paperwork. The funds were in the Gammons’ checking account within days, and they flew home with their beautiful new baby girl.

Watch Greg’s Bank On Yourself review on our YouTube playlist.

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Ohio Woman Conquers Student Loan and Credit Card Woes, Thanks to Bank On Yourself, as Revealed in This Review

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Unlike many students, Rose Hillbrand managed to get through college without relying heavily on student loans. But once she entered graduate school in Ohio, all of that changed. Not only was she forced to take out student loans, but her part-time job didn’t pay enough to handle her monthly living expenses. Rose covered the shortfall by running up debt on her credit cards.

“When I finished graduate school I was 24, and I had around $15,000 total on three cards, plus about $15,000 in student loans.”

Rose started paying off some of her loans and credit cards when she landed her first job out of grad school. But, figuring she had plenty of time to deal with her debts, she didn’t get serious about paying off all of it. When she relocated and started working full-time as a ballroom dance instructor, Rose once again wasn’t making enough to cover basic expenses. Plus, she had an aging car that needed expensive repairs.

“I didn’t feel like I was digging myself out. I felt like I was digging myself deeper in. I felt pretty hopeless at that time. I couldn’t think of any way to get out of the hole that I was in.”

The financial pit Rose had landed in is familiar to a lot of people these days. Rose realized that, like most people, she really didn’t know what she was doing when it came to managing her money. “You’re not taught this in school. You’re not taught much about anything financial in school, and I just had no idea.”

Desperate to find a solution, when Rose heard about Bank On Yourself, she quickly made an appointment with an Authorized Advisor.

Rose started small with her first Bank On Yourself policy

Rose’s Advisor assessed her situation and helped her think through changes she needed to make to get on top of her financial situation. Rose decided it made the most sense to start small with her first Bank On Yourself policy and that she could afford a premium of $2,500 per year. With her Authorized Advisor’s assistance, Rose decided to use funds she had in a small IRA to pay the premium for a couple of years until her cash flow improved.

Rose then started viewing ballroom dance instruction as more of a hobby and switched to part-time. She took her love of dance to develop an online business to increase her income.

“I sell dance shoes. I got in at the beginning. There were only a few people doing it at the time, so I’m pretty well established. I sell a lot of custom-made shoes, so people can pick all their colors and their heels and so on. That’s my niche.”

Additionally, because Rose was so impressed with the guidance her Bank On Yourself Advisor gave her, she went to work for him as well!

Rose began to reduce her debt then decided to eliminate it completely. About two years after starting her first Bank On Yourself policy, she took out her first policy loan.

“The first thing I used my policy for was to pay off debt, and I started with my smallest debt first. I got such a feeling of satisfaction by eliminating one debt completely.”

A couple of months later, Rose paid off the couple thousand dollars she still owed on her student loans. One by one, she knocked off all the other debts on her list. Besides the peace of mind this gave her, eliminating debt freed up her cash flow, which Rose used to take out another Bank On Yourself policy—about twice the size of her first one.

“With Bank On Yourself, the debt-reduction process picks up momentum!”

“Once a person starts to pay off things that have been weighing them down for so long, the process begins to pick up momentum. Life feels as if it’s going in their favor. I definitely feel more positive and hopeful. I feel confident that I have a plan now that will get me where I want to go.”

Rose now knows there is something even better than being debt-free.

Rose used her first policy to finance a dream vacation in Croatia. And by paying herself back on a regular schedule, “If I wanted to, I could vacation in Croatia every year for the rest of my life. I like variety, so I probably won’t. … But you never know!”

Watch Rose’s Bank On Yourself review in her own words on our YouTube playlist.

Reviewer Uses Bank On Yourself to Build a Safe and Reliable Retirement Fund … And Leave a Seven-Figure Legacy

Dave and Hillary Corey have enjoyed the benefits of Bank On Yourself policy loans to buy two sets of beautiful custom-made Amish furniture for their home. They’ve used their cash value to pay their real estate taxes rather than using an escrow account. And thanks to another Bank On Yourself policy loan, they finally paid off their student loans.

Dave plans to finance his kids’ college education using policy loans. They’ll pay him back, and when he dies, “they will get back every single dime that they paid for college – plus more.”

Dave has a way to go to reach retirement, but he says, “When I turn 65, I can withdraw $125,000 a year until the age of 100. If I die at the age of 100, I will still have a two-million dollar death benefit for my heirs.”

You’ll enjoy Dave’s sense of humor, and you’ll learn from his Bank On Yourself review how he and his family are using their Bank On Yourself policy to fire their banker and be their own source of financing when you watch his YouTube review of Bank On Yourself.

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Bank On Yourself Reviewers Help Finance a Major Church Mission Project

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Get instant access to the FREE 18-page Special Report that reveals how super-charged dividend paying whole life insurance lets you bypass Wall Street, fire your banker, and take control of your financial future.

Jon Bowsher and his wife, Lee, started Bank On Yourself as a supplement to their 401(k) retirement plan. But because of stock market downturns, his Bank On Yourself strategy has become his primary source of retirement funding.

Jon and Lee started cautiously, with one policy for each of them. Three years later, once they realized the Bank On Yourself strategy was rock-solid, they added a policy for each of their three kids.

Jon and Lee’s most creative use of the loan feature of their policies came when their church pastor told the congregation the New Testament parable of the “talents” – how a wealthy man gave each of his three servants a certain number of talents of gold to invest on his behalf.

In discussions with their minister, Jon and Lee caught the vision of giving every adult member of their church $50 and every child $10 to invest in some form of enterprise, then return the seed money and the earnings to church.

The church is large – 2,000 members – and in order to make the plan work, someone would have to come up with $100,000. Jon and Lee were one of three families who pooled their resources to fund this venture.

The project was a success for the church. They actually doubled their money – the three families got their money back, and the church members used the seed money to generate an additional $100,000, which the congregation used to finance four different mission projects.

Jon says he and Lee could only fund this project because of their Bank On Yourself policies.

Watch this heartwarming story as told by Jon himself on our Bank On Yourself Reviews YouTube playlist.

Perhaps these true experiences from real Bank On Yourself reviews have given you some inspiration. To find out how a Bank On Yourself policy can be structured for maximum growth and flexibility for your family, request your FREE Analysis. You’ll receive a referral to an Authorized Advisor (a life insurance agent with advanced training on this concept) who will prepare your Analysis and give you personalized recommendations about what Bank On Yourself can do for you.

Will Your Money Last as Long as You Do?

Too many people determine how long they think they’ll live based on arbitrary factors.

And nearly half of pre-retirees and retirees underestimate how long they’ll live by five years or more, according to surveys by the Society of Actuaries.

That’s a big problem when it comes to making sure your money lasts as long as you do.

And very few people surveyed understand how variable life expectancy can be: Whatever the statistics say is the average life span for someone of your age and gender, you have a 50% chance of living longer than that age.

In other words, planning for living to an “average life expectancy” is a recipe for disaster!

By age 65, men in average health have a 40% chance of living to age 85, and women have more than a 50% chance.

And if you’re healthier than average, well now you’ve got a 50% chance of living to age 85 if you’re a man, and a 62% chance if you’re a woman.

Of those turning 65 today, 25% will live past 90, and one out of 10 will live past 95, according to the Social Security Administration.

What if you’re the lucky one who hangs on until 100 or longer? You don’t know for sure, do you? But just how “lucky” will you feel if you can’t provide for yourself in those final years?

My 95-year-old mother-in-law lives in an assisted-living facility in Arizona. When her husband died, she got a life insurance settlement and has been receiving a nice pension payout every year. [Read more…] “Will Your Money Last as Long as You Do?”

How to Pay Zero Taxes in Retirement – Without Being Broke

Do you have money in a tax-deferred retirement account such as a 401(k), IRA or 403(b)? If so, you’re sitting on a tax time bomb.

I’m going to reveal the tax traps you face and show you how to move toward a 0% tax bracket in retirement (legally!) – but not by doing it the way most people do it, which is by being broke!

Conventional wisdom says, “Maximize your contributions to tax-deferred plans. Your money compounds without being reduced by taxes, and you’ll end up with more money during retirement.”

But like much conventional wisdom about personal finance, it’s not true…

The Society of Actuaries says if the tax rates are the same,

It doesn’t make any difference whether [the taxes] are taken away from you at the beginning (tax-exempt) or at the end (tax-deferred). It’s the same fraction of your money that is left to you.”

But most people look at their savings and think it’s all theirs. You may have forgotten you’ll owe Uncle Sam the taxes he let you defer all those years – on every penny you’ve put in and every penny of growth.

And according to Boston College’s Center for Retirement director, Alicia Munnell,

It’s a very big deal when people realize they only have two-thirds or three-quarters of what they thought they had.”

If the tax rates are actually lower during your retirement, you might come out ahead by deferring your taxes. But where do you think tax rates are headed long term? You must consider what tax rates might be during a retirement that could last 30+ years.

Most people we talk to think taxes ultimately must go up due to the aging demographics of our country and our unsustainable national debt. (Recently the debt passed $21 trillion for the first time.) If tax rates do go up, and you’re successful in growing your nest-egg, you’ll simply end up paying higher taxes on a bigger number. [Read more…] “How to Pay Zero Taxes in Retirement – Without Being Broke”

Four Years after Publication, This New York Times Best-Seller on Bank On Yourself Still Generates Rave Reviews on Amazon

Picture of the Bank On Yourself Revolution book coverPamela Yellen’s book, The Bank On Yourself Revolution, hit the bookstores in 2014. It was an overnight sensation, landing on the bestseller lists of The New York Times, (where it was a #1 bestseller), and USA Today.

Shoppers on the world’s largest bookstore,, have consistently praised all of Pamela Yellen’s books … and this one is no exception.

And in fact, nearly 80% of reviewers have given Pamela Yellen’s Bank On Yourself Revolution a 4-star or 5-star review. Many also used glowing terms to describe their personal experiences with the Bank On Yourself concept.

Why is the Bank On Yourself concept receiving so much positive attention from Americans interested in a secure financial future? We’ve sifted through Amazon’s book reviews to find the answers. (All reviews are quoted verbatim, except for spelling and grammatical corrections and minor edits for clarity.)

According to Amazon Reviewer “Valentine,” Bank On Yourself Is “The Best Lifelong Safe and Guaranteed Wealth-Building Strategy Everyone Can Employ”

[Read more…] “Four Years after Publication, This New York Times Best-Seller on Bank On Yourself Still Generates Rave Reviews on Amazon”

Why is the “Father of the 401(k)” Now Putting His Money into Bank On Yourself Instead?

It caused quite a stir when the man who is credited with being the “father of the 401(k),” Ted Benna, recently announced that he’s put a substantial part of his own money – “probably the biggest part of my wealth” – into what is most commonly known as a Bank On Yourself plan.

You see, for at least six years now, Benna has been calling the 401(k) a “monster” that “should be blown up.”

Benna is credited with finding a way to capitalize on the tax code to create a way for working men and women to supplement the pension plans that many workers used to have. Those pensions plans have been disappearing, and 401(k)s were created to hopefully help pick up the slack.

But over the years, Benna watched Wall Street and Big Business pervert the 401(k) in ways he couldn’t possibly predict.

In a recent interview, Ted Benna discussed three reasons why we should be very leery of 401(k)s and IRAs:

  • The government may repeal the 401(k) and IRA, so you won’t be able to put any more money pre-tax into these accounts, or the amount you can put in will be drastically reduced (Congress considered doing that again last year!)
  • Benna believes the next stock and bond market crash is imminent and could wipe out 40% of the typical portfolio
  • Wall Street has hijacked these plans, and the excessive fees charged by mutual fund companies and plan administrators are robbing you of up to half of your nest egg

I’ve Been Sounding the Alarm About 401(k)s and IRAs for Even Longer than Benna

[Read more…] “Why is the “Father of the 401(k)” Now Putting His Money into Bank On Yourself Instead?”

7 Warning Flags and Financial Risk Factors We Face Today

You know people have gotten too complacent about investing in the stock market and what it takes to grow real wealth when…

  1. People bragging about becoming 401(k) millionaires and posting their balances on social media has become a “thing” (remember when everyone from the company executives to the janitor were bragging at the water cooler about being real estate millionaires, just before the last crash?)
  2. People start to think they can actually retire comfortably on $1,000,000 (you can’t, because the IRS will take at least 25% – 33% off the top, and you’ll need $500,000 just to cover out-of-pocket healthcare and long-term care costs in retirement)
  3. The personal savings rate fell to its third-lowest on record at the end of 2017
  4. Consumer spending is rising, and more of it is being fueled by debt (the last quarter registered the second-largest percentage increase in charge-card debt in a decade)
  5. Inflation is taking a bigger bite out of Americans’ paychecks (real average hourly earnings of 80% of employees fell by half a percent in January – its fifth decline in six months)
  6. Hundreds of major companies have price earnings ratios that are higher than during the height of the 2000 and 2007 bubbles
  7. For a decade now, central banks have pretended they can print up prosperity (which they’ve done at a magnitude beyond imagination… and we’re supposed to have blind faith that they know what they’re doing)

[Read more…] “7 Warning Flags and Financial Risk Factors We Face Today”

Is Your Personal Balance Sheet – Your Financial Snapshot – Giving You a True Picture?

A balance sheet shows you at a glance what you own, what you owe, and what the difference is. The difference is your “net worth” – and the greater your net worth, the more you’re in a position to meet life’s financial uncertainties.

A balance sheet for John and Jane Doe, showing assets including $300,000 in retirement savings; and showing liabilities.
Figure 1. A Simple Balance Sheet
It’s called a balance sheet because your assets minus your liabilities always equals – balances – your net worth.

If you owe more than you own, your net worth is a negative number, and that’s an early indication of possible financial problems or bankruptcy in your future.

Here’s a simple balance sheet. See Figure 1. We see that John and Jane have added up the fair market value of their major possessions – their house, car, furnishings, cash in the bank, and retirement savings – and have total assets of $570,500. But when we subtract what they owe – their first and second mortgages, car loan, student loan, and credit card balances – their net worth (the cash they could come up with if they sold everything) is $369,000. [Read more…] “Is Your Personal Balance Sheet – Your Financial Snapshot – Giving You a True Picture?”

The Stock Market Never Goes Down Any More? (Really?!?)

What was until recently an unloved bull market has now reached the point of “euphoria,” and investors are “having a hard time imagining a decline,” according to Morgan Stanley.

After all, what’s not to love about a bull market that has only two directions – up… and up faster?

It’s being called a “market melt-up,” and the main fear people now have is of missing out.

Those caught up in the euphoria – and the fear of missing out – might want to consider the following:

  • The S&P 500 is trading at 2.3 times its companies’ sales – a smidgen below its dot-com peak
  • Price-earnings ratios have only been higher for 1% of the stock index’s history
  • The cyclically adjusted price-earnings ratio is higher than before the crash of 1929, and higher than at any moment in history except right before the dot-com crash

Those of us who experienced the pain of the dot-com meltdown in 2002 and the financial crash of 2008 hope that the market will never become that irrationally exuberant again.

Back then, people justified their exuberance with the mantra that “this time it’s different.” [Read more…] “The Stock Market Never Goes Down Any More? (Really?!?)”

Why You’ll Need $500,000+ in Retirement for Medical Expenses Alone

Retirees spend more than a third of their Social Security benefits on out-of-pocket medical costs, on average, according to a new study by the Center for Retirement Research at Boston College.

Even after factoring in other sources of income, medical spending still took a huge bite – 18% – of seniors’ total retirement income.

A 65-year-old couple retiring now will need $275,000 to cover out-of-pocket health care costs during retirement, according to a study by Fidelity.

The news gets even worse, however, because these numbers do not include the cost of nursing home or home health care.

That can range from $40,000 a year for home health aides… to over $85,000 a year for a semi-private room in a nursing home, according to the Genworth 2017 Annual Cost of Care Survey: Costs Continue to Rise Across All Care Settings. And if you prefer a private nursing care room, you’ll have to cough up almost $100,000 a year.

Ignore the likelihood of needing long-term care services at your own peril: At least 70% of people over age 65 will require long-term care services, and more than 40% will need nursing home care, according to the U.S. Department of Health and Human Services.

Based on the average cost of a nursing home room and the average length of stay – which is 2.8 years – you would need over $250,000 to cover a single stay. [Read more…] “Why You’ll Need $500,000+ in Retirement for Medical Expenses Alone”

Savings Rate Falls to 10-Year Low

Americans are saving much less and spending more – even though their real disposable incomes are unchanged.

The savings rate just fell to a 10-year low of 3.1%, according to the Commerce Department.

What’s most worrisome to economists is that savings rates below 4% occurred before the last two major market crashes, as people felt what turned out to be a false sense of security, due to rising stock prices and/or home values.

Looks like it’s déjà vu all over again…

I recently wrote how the current bull market is the second longest in modern history. If it manages to last until summer, it will become the longest-running bull market at 9½ years.

A bull market has never made it to its 10th birthday.

In addition, historically, the longer a bull market lasts, the harder and deeper it crashes.

Which indicates the optimism that’s caused Americans to save less and spend more is misplaced. And, to take a line from the movie Grease, that means a lot of people are cruisin’ for a bruisin’.

The vast majority of Americans have little or no savings outside their retirement accounts, according to the latest Federal Reserve Survey of Consumer Finances. [Read more…] “Savings Rate Falls to 10-Year Low”