Personal Finance Blog for Retirement and Investment Advice

Reviews for Saving for College Using the Bank On Yourself Method

When you think about saving for your children’s college tuition, what savings vehicle comes to mind?

Families often use traditional investment and savings accounts, 529 College Savings Plans, UGMAs (Uniform Gift to Minors Accounts), and UTMAs (Uniform Transfers to Minors Act).

But there’s a big problem there. Who’s going to guarantee you won’t lose your money – and your kid’s chance for a great education – in a stock market crash?

Nobody.

Absolutely nobody. Not your broker, certainly. (Try asking him if he’ll guarantee your stock market investment. Get ready to be laughed at.)

Not Uncle Sam. And not the college. Nobody’s going to guarantee that your money in the market will grow. And nobody’s going to guarantee you won’t lose it in the next market crash.

And that’s the thing. This is your kid’s future you’re gambling with, for Pete’s sake. This is money you can’t afford to lose!

And if you can’t afford to lose it, you can’t afford to risk it. Because “Risk = possibility of loss.”

If you can’t afford to lose it, you can’t afford to risk it.”

That’s why the Bank On Yourself strategy for saving for college is becoming more and more popular.

The Bank On Yourself strategy comes with guarantees.

The Bank On Yourself strategy is based on the living benefits available from dividend-paying high cash value whole life insurance policies.

How well does the Bank On Yourself strategy work? If you have kids (or grandkids) who’ll be going to college in a decade – or even in the next few years – you’ll be particularly interested in the reviews by two Bank On Yourself families who are using the Bank On Yourself strategy to pay the high cost of going to college.

Reviewers Say Their Bank On Yourself Strategy Lets Their Money Do Triple Duty

Shay and Christi Bowling of Amarillo, Texas, have demonstrated the incredible versatility and flexibility of a properly-designed Bank On Yourself-type policy.

First, their Bank On Yourself Authorized Advisor showed them how to eliminate $81,000 each year in interest to finance companies on their personal and business loans, by borrowing against the cash value in their policy.

Second, Shay and Christi now have a rock-solid plan to pay for college for their two kids.

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In addition to providing a college-savings strategy and a debt-relief plan, these reviewers point out that the Bank On Yourself strategy is also a great retirement-saving vehicle

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In their review of Bank On Yourself, Christi and Shay were over-the-top excited about the power and flexibility of the strategy their Bank On Yourself Authorized Advisor created for them.

And when he showed them the third benefit of this strategy, they practically started doing backflips.

In addition to getting them out of debt and giving them a plan to pay for college for both their children, their Advisor showed the Bowlings how Bank On Yourself could be used to create a guaranteed retirement income stream – even though retirement is still a few years away for Shay, an air traffic controller, and Christi, who owns franchises for two dry cleaning establishments in Amarillo.

Christi and Shay are looking forward to having more than $3 million in cash value in their policy when they reach age 65. That could give them $185,000 a year in potential income – tax-free, by the way – well into their 90s.

And, as Shay says in his review of Bank On Yourself,

We’ll be able to leave a legacy, too. When we pass away, we’re going to leave our family a major legacy in a very tax-favored way.”

Read the story of how Shay and Christy Bowling are using their Bank On Yourself policies to pay for college – and so much more – here.

How Does the Bank On Yourself Strategy Help You Safely Save for College?

The Bank On Yourself strategy uses a specialized type of dividend-paying whole life insurance policy with specific riders added to it that help your cash value grow much faster than a run-of-the-mill whole life policy, especially in the early years.

And get this: Bank On Yourself-type policies increase in value by a guaranteed and predictable amount every single year. And they’ve been doing that, through all economies and market crashes, for more than 160 years.

Watch this 4-minute video that explains saving for college the Bank On Yourself way

So, Bank On Yourself-type plans give you guarantees of how much you’ll have available – in cash! – on the day your child starts college. For your child, it’s a guaranteed college fund.

For you, it’s sleep insurance!

Here’s a 4-minute video that explains saving for college the Bank On Yourself way. If you have a child in high school – or even grade school – it’s worth 4 minutes of your time to check this out.

Watch this 4-minute video that explains saving for college the Bank On Yourself way

Bank On Yourself College Saving Client Dave Corey Reviews Using Bank On Yourself to Save for College

When Dave Corey’s children go off to college, this hard-nosed medical device salesman will cover the costs by letting his kids borrow from his policy – the “Bank of Dad.” His family will be able to pay for college on their terms – without going broke.

Plus, Dave borrows from (and pays back to) his policy every six months to pay the family’s real estate taxes. Thus he’s bypassing the escrow company that would otherwise hold their money and earns interest on it for themselves.

Now Dave recaptures that interest into his policy.

And Dave is on track to a six-figure-a-year retirement income he and his wife can predict and count on.

All thanks to the Bank On Yourself safe wealth-building method.

To learn how he does it, check out Dave Corey’s three-minute Bank On Yourself video testimonial. He explains how he’ll be handling college costs in this clip, filmed as part of a national book tour for Bank On Yourself.

Will a Bank On Yourself Plan Work for You?

Why not? The Bank On Yourself strategy – the very same concept that Shay and Christi Bowling, and Dave Corey review here – the strategy hundreds of thousands of other Bank On Yourself plan owners praise – is available to you.

Wondering where you’ll find the money to start? There are at least eight ways to fund your Bank On Yourself policy, so don’t rule yourself out for that reason.

Get the facts. Download our Free Special Report, 5 Simple Steps to Bypass Wall Street, Beat the Banks at Their Own Game and Take Control of Your Financial Future.

Your next step, if you like what you see, is to learn how a custom-tailored Bank On Yourself strategy can help you reach your financial goals. You can find out with no cost or obligation. Just request your free Analysis. You’ll be referred to a Bank on Yourself Authorized Advisor – a life insurance advisor with advanced training in this concept – who can answer all your questions.

With your child’s educational future at stake, you’ll be so glad you looked into the Bank On Yourself method of saving for college … You have nothing to lose and a world of financial security to gain.

Take Our Survey and Tell Us Where You Think the Stock Market is Headed

2018 was a wild ride on Wall Street, with volatility so violent it made daily swings of 500 or more points on the Dow seem almost “normal.”

We experienced several record-setting point swings on the Dow and came within a hair of entering a bear market, where securities fall 20% or more from recent highs.

But there’s a big difference between a bear market decline of 20% and a major market crash, like the one we had during the 2007-2009 financial crisis, which knocked the S&P 500 down by 57%.

And when the dot-com bubble burst in 2000, the S&P 500 plummeted by nearly 50%.

And since this time around we haven’t yet entered a bear market (by the most common definitions), that means we are (still) in the longest-running bull market in history.

In two months, this bull market will hit its tenth birthday – something that’s never happened before. [Read more…] “Take Our Survey and Tell Us Where You Think the Stock Market is Headed”

Shhh! Your Bank Has a “BIG” Dirty Little Secret – it Could Crush Your Retirement

Who can forget those dark days of the housing market crash of 2008? The vacant homes and neglected lawns.  The abandoned swing sets and forgotten barbecues. The bright signs and bold arrows that needed little explanation: “Foreclosure.” “Auction.” “Bank Owned.”

We’re told that the housing bubble and collapse was about predatory lending and high-risk borrowers who were duped into loans that they couldn’t afford. The massive regulatory response to the subprime crisis meant that banks were no longer allowed to behave BADLY… so they chose to behave DIFFERENTLY.

Shhh. Your Bank Has a “Big” Dirty Little Secret. Read this Very Carefully…

The largest source of mortgage lending in the United States is now being done by non-banks – financial entities that offer unsecured personal lending, business loans, leveraged lending, and mortgage services… but do not hold a banking license. As a result, they’re not subject to standard banking oversight and can engage in risky lending.

But where do they get the money to make these loans? You guessed it: Wells Fargo, Citibank, Bank of America and everyone else who got their hands dirty ten years ago. [Read more…] “Shhh! Your Bank Has a “BIG” Dirty Little Secret – it Could Crush Your Retirement”

October 2018 Was Among the Most Volatile Month for Stocks in 118 Years

October was one of the most volatile months for the Dow since 1900. Back then, we were hopping on the first electric buses in New York City and enjoying a new kind of sandwich called a “hamburger” in New Haven. And, we were piling onto an early “Loop the Loop” roller coaster on Wall Street.

Fast forward to October 2018… and enter the Zero-G Inversion Coaster. The Dow fell by over 1,000 points in two days. The S&P 500 dipped in and out of correction multiple times. The Nasdaq plummeted 700 points mid-month, soared over 300 points the next week, and then tumbled back down over 500 points toward month-end. It comes as no surprise that the Fear Index also hit a 3-month high.

It wasn’t Halloween that spooked the markets last month…

Investors had plenty to fear with trade wars, tariffs, rate hikes, Fed policy, underwhelming earnings, slumping housing data, and political partisanship run wild. And as the sugar high of tax cuts, low interest rates and low inflation wears off, there’s a pervading sense that we’ve reached some sort of flashpoint.

What keeps economists up at night? One very sobering question:

What if This Economy is “as Good as It Gets”?

[Read more…] “October 2018 Was Among the Most Volatile Month for Stocks in 118 Years”

Setting the Record Straight on What Bank On Yourself Is – and Isn’t

There are a lot of misconceptions about the meaning of Bank On Yourself. Some folks think it’s just glorified whole life insurance. Others think Bank On Yourself is merely the name of a book.

So, the Bank On Yourself team has created two separate articles. The first explains what Bank On Yourself is, and the second explains what it is not.

What Bank On Yourself Is

Our article on What Is Bank On Yourself? explains that Bank On Yourself is a safe wealth-building strategy – one that puts you in charge, by showing you how to fire your banker, bypass Wall Street, and take back control of your finances. That’s the meaning of Bank On Yourself in a nutshell.

But the article also discusses the benefits of the Bank On Yourself concept. We explain that Bank On Yourself is also the name of our company, and the words “Bank On Yourself” are in the titles of two New York Times best-selling books by Pamela Yellen.

What Bank On Yourself Is NOT

[Read more…] “Setting the Record Straight on What Bank On Yourself Is – and Isn’t”

Why You’ll Lose Money in the Market Even When You Invest Rationally

In his 1865 poem “If,” Rudyard Kipling famously wrote, “If you can keep your head when all about you are losing theirs … yours is the earth and everything that’s in it.”

That’s a big “if” at the moment. Let’s face it; few people are “keeping their heads” right now.

We’re drowning in a reactionary stew where everything from an exchange of ideas to a “taper tantrum” seems to cause a convulsive panic in the stock market.

And even if you don’t lose your head, you can STILL lose your money! Here’s why…

Admittedly, October has always been a devilish month for Wall Street. Black Tuesday was October 29, 1929. Black Monday was October 19, 1987. And the crash of 2008 happened on October’s doorstep on September 29, 2008,  when the Dow dropped over 777 points. On October 10 of this year, the Dow dropped 832 points – the third-worst point drop in history.

These are the days of falling acorns and Chicken Littles! It’s in this climate – despite historically low unemployment, robust GDP, and soaring consumer confidence – that 800-plus point sell-offs are even possible.

The problem is not just the prevailing concerns about high debt, trade wars, and rising interest rates; it’s the collective uncertainty and reactionary group-think over which we have no control.

Contagion Has Become the Wild Card Enemy of Wealth Accumulation

[Read more…] “Why You’ll Lose Money in the Market Even When You Invest Rationally”

Flat Earthers and Blind Faith Stock Market Bulls – What Do They Have in Common?

They are the ultimate conspiracy theories – the beliefs that the earth is flat and that economies are not cyclical.

The Flat Earth Society (a movement that is active and growing today) finds the notion of a horizontal earth far more plausible than a round planet perched on an axis. To their members, gravity is an illusion and objects are not pulled down, but rather continually accelerate upward.

Adopting this notion requires one to reject all prevailing scientific wisdom and research. And despite centuries of empirical evidence, some Flat Earthers believe that one could literally walk off the end of the world.

Those who think the current bull market will continue to rise without a crash or major correction are equally illogical. Despite generations of economic theory, Blind Faith Bulls have sunk most of their net worth into equities on the unquestioning belief that stocks will climb unabated.

Flat Earthers and Blind Faith Bulls Share a Common Suspension of Disbelief…

[Read more…] “Flat Earthers and Blind Faith Stock Market Bulls – What Do They Have in Common?”

Is Bank On Yourself a Scam? Read These Reviews and Decide for Yourself

Scam (noun): a dishonest or illegal plan or activity, especially one for making money

Bank On Yourself (proper noun): A wealth-generating system using dividend-paying whole life insurance policies with riders that supercharge the growth of the policies. These policies are protected by a multi-layer safety net, and the companies recommended for the Bank On Yourself concept are audited by regulators in all 50 states.

Through every economy imaginable, from the terrible Great Depression of the 1930s to the “boom days” of the 1990s, to the Great Recession of 2007 – 2010, the Bank On Yourself strategy has demonstrated unfailing success for well over 160 years.

Do “Bank On Yourself” and “scam” even belong in the same sentence? To read or listen to some self-appointed experts, yeah, they do belong in the same sentence. It’s difficult for the naysayers to recognize such traits as patience, discipline, and self-restraint – the very traits that are prized by those who use and benefit from the Bank On Yourself method of safe wealth-building.

The naysayers would rather say, “It sounds too good to be true, therefore it is too good to be true.” But if something is “too good to be true” just because it sounds “too good,” then what about radio and television, motion pictures, airplanes, and even ballpoint pens? At one time or another, every one of those sounded too good to be true.

When something sounds too good to be true, examine it carefully and thoughtfully. That’s much smarter than running away from it with a closed mind.

Why Do Some People Dismiss Bank On Yourself As a Scam?

[Read more…] “Is Bank On Yourself a Scam? Read These Reviews and Decide for Yourself”

Will Household Debt Lead to the Next Financial Crisis?

Those of us who remember the 1960’s TV action series, Batman, recall how the caped crusaders defended Gotham City from super villains. At the very instant our heroes had their backs to the wall, the announcer would urge us to “Tune in next week. Same Bat Time – Same Bat Channel” for the continuation of the episode.

As we sit ten years out from the financial crisis, it feels like we’re at a similar juncture in the story of the U.S. economy. It has literally picked up where it left off – with the usual suspects and the same, unsuspecting victims.

If history is any guide, we’re on track to experience another economic downturn, triggered by similar conditions – with a similar outcome.

On a visit to Fortune magazine back in July of 2007, Treasury Secretary Hank Paulson declared, “This is far and away the strongest global economy I’ve seen in my business lifetime.”

A Year Later, We Were in a Global Financial Crisis Many Consider to Have Been the Worst Since the Great Depression

[Read more…] “Will Household Debt Lead to the Next Financial Crisis?”

Inside Mayer Rothschild’s Secret Counting House: How to Live Like the Rich Do

Ah, to be of the privileged and cultured class – butlers, trust funds, planes, yachts, and race cars. What’s it like to have all that money? Dudley Moore, in the 1981 film Arthur, a comedic flick about a cavorting socialite and heir to a massive fortune put it most succinctly – “It doesn’t suck.”

Wealth Doesn’t Just Happen

While it certainly helps to inherit millions, according to Forbes, an astonishing 67% of the world’s billionaires, made it on their own. And the majority started out as either middle class or downright poor.

Likewise, most of America’s wealthy didn’t win the lottery or inherit their money. Many current millionaires have earned their fortunes in tech, finance, fashion, and media, while prior affluent generations took advantage of the rapid advancements of the industrial revolution by investing in railroads, oil, steel and land.

Mayer Amschel Rothschild, the founder of one of the world’s most storied banking dynasties, was an orphan from a Jewish ghetto in Frankfurt. He went to work at 13 with little formal instruction in money or finance and taught himself the intricacies of collectible coins.

John D. Rockefeller, the oil tycoon and America’s first billionaire, grew up middle class. His father was a traveling salesman who sold a tonic and elixir called “Rock Oil” that he claimed cured cancer. The younger Rockefeller went to work at 16 as a bookkeeper earning 50 cents a day.

The forefathers of these influential families shared common traits of hard work, discipline, and principled investing.

Their rise to power and prosperity was neither haphazard nor accidental. Rather, it was part of a careful plan that involved the strategic growth and preservation of wealth

[Read more…] “Inside Mayer Rothschild’s Secret Counting House: How to Live Like the Rich Do”