Paul Mareel’s Bank On Yourself Review
Paul’s biggest doubts or concerns when he first heard about Bank On Yourself:
That it was too good to be true, that you wouldn’t be able to borrow from this policy and it wouldn’t produce and grow for my retirement like it was stated.
Paul’s experience as a result of using Bank On Yourself:
I started Bank On Yourself in March of 2011 and never really knew when I might have to borrow from this policy because I was planning on using my car for another 4 years and my wife had a car only three years old. I had canceled an old insurance policy and put that money into my Bank On Yourself policy.
Well, one evening in the middle of July that same year I was in a bad accident (someone had pulled in front of me at an intersection) and my car was totaled. I called my agent up and told him what had happened and asked what I needed to do. He asked how much I needed for a new car and how much time I wanted to pay it back and that was it. I had a check in a couple of days, paid cash for the car and now I am paying myself back, not a bank and it feels Great knowing that my money is still growing as if I had not taken any money out of my policy.
Specific feature Paul likes the most about Bank On Yourself:
The fact that Bank On Yourself only goes up and never down (like the Stock Market).
Other benefits Paul likes about Bank On Yourself:
The best part about the program is that no matter how good anyone says they can do in any other investment strategy, you can always beat their system by a few percentage points simply by using Bank On Yourself funds to capitalize the same investment strategy.
How Paul has used the policy for and how it makes him feel:
(See the question "What did you experience as a result of using Bank On Yourself")
It made me feel Great, like I was in control and not searching for a loan with the best rate, etc…
Why Paul recommends Bank On Yourself:
Yes, because of all the things you state in your book. You control your own destiny. You can borrow from it and pay it back on your own terms. It is a Great way to save for retirement. It only goes up, not down and is not based on the market which is so volatile right now. I would recommend this to anyone looking for a place to save and grow your money other then the Stock Market or Mutual Funds.
Additional thoughts from Paul:
It has worked Very Well for me and I never thought I would have to use it only months into starting Bank On Yourself and was amazed at how easy it was to get the money I needed when I needed it.
"A powerful and emancipating feeling."
-Joe Goldsmith, Boston, MA
"At first it seemed ridiculous to pay interest to borrow my own money. But it really works out to borrowing money and getting back all the interest you paid, plus whatever dividend the company pays that year. It gives me great pleasure to tear up the promotions we get in the mail for credit cards and equity loans. I no longer need anyone else’s money since I’m using my own."
"My wife and I stopped our 401(k) contributions, routing those funds to Bank On Yourself."
-Kevin Grutzmacher, St. Paul, MN
"When I first heard about this, I thought ‘scam-scam-scam.’ Now I’ve changed my mindset about the ‘magic’ of 401(k) and traditional savings accounts. I like the (currently) tax-free distribution feature of Bank On Yourself."
"Bank On Yourself is everything it was advertised to be and more."
-Robert Fontaine, Hopkinton, MA
Sr. Business Systems Analyst
"At first, Bank On Yourself sounded too good to be true. I had been looking for a safe place to put my money where it can still grow, I wouldn’t have to worry about losing it, but not locked up so I couldn’t use it along the way. The more I researched BOY, the more convinced I became it was the right move for me."