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.

Behold the Subprime Work-Around! According to the Wall Street Journal, loans to non-bank financial firms increased six-fold from 2010-2017, hitting a record $345 billion. Wells Fargo coughed up $81 billion; Citigroup and Bank of America ponied up $30 billion each; and JP Morgan threw in another $28 billion.

By funding these “shadow” banks, the big financial players are still in the risky loan business

“Shadow banking” was an unnamed co-conspirator in the financial crisis, concluded economist Paul Krugman back in 2008. If that’s the case, they’re at it again. Bloomberg tells us that shadow lending is now “larger than the world economy and poses a risk to financial stability.”

An astonishing 6 out of 10 Mortgage lenders in the U.S. are now shadow banks – many operating online and peddling subprime loans. It was precisely this type of non-transparent, under the radar, backdoor lending that led to the soaring foreclosures, cratering home values, failing banks and dwindling retirement accounts of a decade ago.

And early next year, Fair Isaac and Company, the creator of the FICO score, is launching a new opt-in program that will enable consumers to enhance their credit scores by using checking and savings account data. Astonishingly – a decade after subprime lending crashed the housing and financial markets – the new ultraFICO score will boost loan approvals to those who were previously considered subpar borrowers.

The Wall Street Journal reports that “some 26 million subprime borrowers will end up with higher credit scores.” So those who were previously deemed financially irresponsible will soon have much greater access to credit.

And Here We Go Again On Our Way to the Next Financial Crisis

Dr. Benjamin Keys, a member of the Real Estate Department at the University of Pennsylvania’s prestigious Wharton School, stated that an important lesson of the housing crisis is that “just because someone is willing to make you a loan doesn’t mean that you should accept it.” Might we suggest an equally important lesson: “Just because banks are behaving badly again doesn’t mean you have to suffer from it.”

If the prospect of another subprime debacle that could bankrupt tens of millions of folks is not motivation enough to finally get away from big banks, then what is?

Quicken Loans, Loan Depot, PennyMac, Freedom Mortgage, Caliber Home Loans – you’ve heard their names. By using non-banks and secret backchannels between their money and risky borrowers, the big banks and fat cat investment houses have again put you in jeopardy!

This time won’t be different! Don’t become a victim of greedy lenders and those who borrow beyond their means.

The Bank On Yourself safe wealth-building strategy is the ideal financial bunker for scary times. It helped millions of people survive the financial crises of the last 160 years… just as it will protect them from the next housing crisis, market crash, banking collapse and economic downturn.

The Bank On Yourself Strategy Provides You These Advantages… Which Ones Are Most Important to You?

If you still remember the staggering number of “For Sale” and “Foreclosure” Signs… or the amount of money you lost in your 401(k) or IRA account… or the friends who lost homes… or the first time you heard the term “Short-Sale”… or how tough it was to get a loan for anything…

You owe it to yourself to find out how the Bank On Yourself strategy can give you the financial peace of mind you want and deserve.

Request a free, no-obligation Analysis here to take the next step to Bank On Yourself.

Don’t trust the bailout bandits again – Bank On Yourself this time!

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”

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”

Have You Seen This Amazing Review of The Bank On Yourself Revolution Book?

I’ve seen hundreds of reviews of my latest book, The Bank On Yourself Revolution, since its publication in 2014. And they’re fascinating to read because they’re all over the map. Most readers praise the strategy, although a few have damned it. (I could be mistaken, but I don’t believe anyone who has actually used the strategy for themselves has written a review saying they are unhappy.)

In any case, you can see some of the Bank On Yourself reviews here.

As you can imagine, the Amazon reviews for The Bank On Yourself Revolution are highly opinionated!

On the day I wrote this post, there were 138 reviews of The Bank On Yourself Revolution on I’m thrilled that Amazon customers are giving us their two cents’ worth about the book.

A Very Unusual Review of The Bank On Yourself Revolution on

[Read more…] “Have You Seen This Amazing Review of The Bank On Yourself Revolution Book?”

How Your Credit Score Affects Your Life – Another Reason to Fire Your Banker

I just got something in the mail that made me madder than a mosquito in a mannequin factory.

It ought to tick you off, too, and give you some really good reasons to fire your banker. Here’s the scoop…

I just got a bill from our auto insurance company – one of the biggies which shall remain nameless, for now.

They informed us that our premium was jacked up because of information they got from consumer reports.

Specifically, they cited information they obtained on li’l ole me (gasp!) about my “percent balance to high credit for bank revolving accounts reported in the last 6 months.”

Yeah, I know it sounds like gibberish, but here’s what really ticked me off…

I show people how to fire banks and finance companies and become their own banker! [Read more…] “How Your Credit Score Affects Your Life – Another Reason to Fire Your Banker”