How to become your own source of financing

Updated November, 2019

In a Nutshell: By using a little-known form of high cash value, dividend-paying whole life insurance, you can essentially be your own “bank” — your own source of financing — instead of relying on traditional lending institutions.

What if you could bypass banks, finance and credit card companies altogether and become your own source of financing?

It’s easier to do than you might think and hundreds of thousands of people are already doing it!

To show you how to become your own “bank” — your own financing source — we’ve created a fast-paced video. This video reveals . . .

  • A way to make major purchases that beats financing, leasing or even paying cash for them!
  • How the Bank On Yourself method lets you use your money to buy things…  but still have it earning interest and dividends for you
  • Six ways this method beats using traditional financing
  • How famous people like Walt Disney and J.C. Penney used this method – when no banker would lend them a dime
  • How the average family can add $500,000 – or more – to the their lifetime wealth, simply by running their car and vacation purchases through a Bank On Yourself plan

Click the play button below to watch the video…

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Would you like to find out how much more wealth you could have when you become your own source of financing?

No two Bank On Yourself plans are alike. Each is custom tailored to your unique situation, goals and dreams. To find out what your bottom-line, guaranteed numbers and results would be if you added Bank On Yourself to your financial plan, request a free, no-obligation Analysis today, if you haven’t already done so.
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If you’re wondering where you’ll find the money to fund your plan, keep in mind the Bank On Yourself Professionals are masters at helping people restructure their finances to free up money to fund a plan. Here are the eight most common places they look.

Here’s another video you may be interested in…

Would you like to see a specific example showing how much guaranteed and predictable income you could have in retirement, using the Bank On Yourself method?

Click the play button in the video below to see a fascinating example:

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Why conventional financial planning doesn’t work… and what you can do about it

This short video reveals the problems with the conventional wisdom about financial and retirement planning, and explains why the average family with a head of household age 60-70 has been able to save only 25% of what it will need for retirement.

Many readers of this blog have asked to see more specific examples showing how much guaranteed and predictable income you could have in retirement, using the Bank On Yourself method. So I’ve included a fascinating example on this video.

If you have the feeling your financial plan has been treading water (or going backwards) for far too long, you’ll want to be sure to watch this video now. It’s got some pretty cool animation in it, too!

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TIRED OF WATCHING YOUR FINANCIAL PLAN GO NOWHERE?

Find out how the Bank On Yourself method can give you the financial security and predictability you want and deserve. It’s NEVER had a losing year in 160 years! Take the first step right now by requesting a FREE Bank On Yourself Analysis.

Wondering where you’ll find the funds to start a plan? Don’t worry! You’ll receive a referral to one of only 200 financial representatives in the country who have met the rigorous requirements to be a Bank On Yourself Professional and can show you eight ways to find money to fund a plan that can help you reach as many of your goals as possible, in the shortest time possible.

The Secret to a Financially Stress-Free Life

I’ve put together a fast-paced three-minute video that reveals the surprising secret to having a financially-stress free life.

Click the play button to watch it and tell us what you think in the comments box below…

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Would you like to find out how you could have a rock-solid financial foundation and build wealth without the risk of traditional investments?

No two Bank On Yourself plans are alike. Each is custom tailored to your unique situation, goals and dreams. To find out what your bottom-line, guaranteed numbers and results would be if you added Bank On Yourself to your financial plan, request a free, no-obligation Analysis today, if you haven’t already done so. That way you can make sure this is the year you take back control of your money and finances!
Request Your Analysis Button
If you’re wondering where you’ll find the money to fund your plan, keep in mind the Bank On Yourself Professionals are masters at helping people restructure their finances to free up money to fund a plan. Here are the eight most common places they look.

Bank On Yourself Round-Up for Week of May 18, 2011

I hope you enjoy these short summaries of four of the most interesting and thought-provoking items that have crossed my desk this week…

Bank On Yourself in the News

401(k) savings reach a 12-year high

However, half of all workers aren’t confident about their retirement future. No wonder, considering 56% say they’ve saved less than $25,000.1

Bank On Yourself in the News

According to an article in USA Today2, many 401(k) participants increased their contribution some this past year.  If you’re one of them, or are considering doing that, here are some things to think about:

  • After a “lost” decade for stocks, before the market turned around in 2009, the 10-year returns of the S&P 500 were negative. Even after a near-record recovery, the 10-year returns remain meager – just 2.7% on an annualized basis for the ten years ending in April.3

That just about equals the inflation rate for that period, wiping out any real gain you might have had for the decade.  It also assumes you have no fees or costs (401(k)’s have some of the highest costs) AND assumes you’ll pay no taxes!

  • And speaking of taxes… what direction do you think tax rates are going over the long term?

    If you think they’re going up, as most people we’ve surveyed do, and you’re successful in growing a nest-egg in your 401(k), you’re only going to pay higher taxes on a bigger number!

  • [Read more…] “Bank On Yourself Round-Up for Week of May 18, 2011”

What side of the debt line are you on?

A couple months ago, I interviewed Dan Proskauer.  Dan lives below his means and has significant savings discipline.  But after decades of saving and investing and “doing all the right things” we’ve been taught to do, he realized he had nothing to show for it.

Bank On Yourself under a microscope

Dan is a vice president of technology engineering, very analytical, and he has spent hundreds of hours investigating .

His conclusion?  “The more I look into Bank On Yourself, the better it looks,” says Dan.  And he has implemented it for his family in a big way.

Dan shared the findings and conclusions of his research in a fast-paced interview.  I encourage you to check it out now, if you haven’t already done so.

But what if you’re in debt?

Dan told me he was talking to a friend who was complaining that he and his wife were always in debt and confessed, “There are things we want to do – we don’t want to deprive ourselves of life.  We can’t really afford them, but we do them anyway.”

Maybe you can relate to Dan’s friend’s situation.  It’s a seemingly endless cycle of living beyond your means, using high-cost borrowing, which means you have interest to pay – leaving that much less for everything else.

"Expenses rise to equal income"
C. Northcott Parkinson
Perhaps surprisingly, it has little to do with how much you make – people of all income levels suffer from this.  After all, as the late British economist, C. Northcote Parkinson noted…

Expenses rise to equal income”

It’s part of “Parkinson’s Law.” He also said that, “a luxury, once enjoyed, becomes a necessity.”  I can definitely relate to that, can’t you?

When Dan described to his friend how Bank On Yourself could be used to become his own source of financing and help free him from the endless cycle of debt, his friend’s first reaction was, “Yeah, it sounds great, but we could never do it – we have to get ourselves out of debt first.”

But as Dan explained more about it, his friend realized he didn’t have to wait.  He could start now and reduce or eliminate debt while at the same time increasing savings.  He realized Bank On Yourself could help his family move to the right side of the line.”

What side of the “line” are you on now?

What side of the line are you on?

If you’re on the “wrong” side of the line, you know it.  You’ve probably tried to get to the other side of the line, but it’s not an easy journey to make.

The good news is that if you’re truly fed up with your situation and ready to make a change, Bank On Yourself can help you get there. My New York Times best-selling book, is filled with stories of folks of all ages and incomes who have done just that.

One woman who shared her story in the book is Rose Hillbrand (Chapter 8). Rose knew the feeling of hopelessness that came with the crushing debt she had incurred.  The video below updates her inspiring story of how Bank On Yourself helped her move to the other side of the line.  It was filmed when I was in Ohio speaking to a standing-room-only crowd of over 250 people…

And, if you’d like to get a no-obligation Analysis and a referral to a knowledgeable Bank On Yourself Professional like the one Rose got referred to, who can show you how much your financial picture could improve if you added Bank On Yourself to your financial plan, simply request a free Analysis here.

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Better than debt free?

Most financial experts say that the way to avoid getting into debt is to save up and pay cash for things.

They are wrong! There is actually a better way to purchase things.  I call it the “better than debt-free” method, and it actually beats paying cash.

How is that possible?!?  The conventional wisdom says that paying cash for things is the answer.  But this ignores an important, but little-known principle of finance…

you finance everything you buy

What do I mean by that?  Let’s say you’ve decided you’re going to beat the financing and leasing rackets by paying cash for major purchases.  So you start putting money aside into a savings or money market account.  When you hit your savings target, you pull your money out to pay cash for that item.

Rose on vacation in croatia

Now how much interest are you earning on that money?

You’re earning ZERO interest, of course.  Which is why financing, leasing and paying cash are all losing scenarios.

Fact:  You’re either going to pay interest to others to finance things, or you’re going to lose the interest or investment income you could have earned, had you kept your money invested instead.

When you Bank On Yourself, you do pay interest on your policy loans.  But the interest you pay ends up in your policy, as I explain in detail on pages 100-102 of my book.

But far more important, as Dan Proskauer puts it…

The Bank On Yourself method offers something you truly deserve, but may not have – financial security and peace of mind.  With Bank On Yourself, you can sleep well knowing your savings can only grow, never shrink.  With Bank On Yourself, you know, rather than hope.”

Bonus:  Some companies have a feature that allows you to continue to earn the exact same interest and dividends – even on the money you’ve borrowed!

However, only a handful of companies offer a dividend-paying whole life policy that meets all the requirements to maximize the power of this concept AND pay you the same interest and dividends, regardless of whether you’ve borrowed from your policy .

And if your policy isn’t structured properly, your cash value won’t grow nearly as fast, you could lose the tax advantages, or both.

When you request a free Analysis, you’ll get a referral to one of only 200 financial representatives in the country who have met all the rigorous requirements to be a Bank On Yourself Professional.

So, whether you’re on the side of the line that Dan Proskauer is on, and you want to strengthen your financial position and have predictability and peace of mind… or you want to be on that side of the line, chances are excellent that Bank On Yourself can help!

Why not find out today, if you haven’t already started to Bank On Yourself?Request Your Analysis Button

What If Suze Orman and Dave Ramsey Discussed Bank On Yourself?

It seems like every week now, someone writes us to let us know they forwarded one of my blog posts to Suze Orman and Dave Ramsey, or urged them to take me up on my standing offer to debate them about Bank On Yourself.

As I’ve said numerous times, I know Suze and Dave have helped many people get out of debt and get their financial act together.  However, there are two critical areas we strongly disagree on.

Neither of them has taken me up on the offer to debate me – yet. But I can’t help but wonder if they’ve ever actually checked into Bank On Yourself.

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What would it be like to be a fly on the wall as Suze and Dave discuss Bank On Yourself? No need to wonder any longer, as our hidden video camera captured it all. Just click on the play button…

In case you’re wondering, the statements made by Suze and Dave in the video about why you should invest in mutual funds and why you should avoid whole life insurance are direct quotes from their books.

And Suze really did tell the New York Times she doesn’t follow her own advice about investing in the market.

[Read more…] “What If Suze Orman and Dave Ramsey Discussed Bank On Yourself?”

Bank On Yourself success story video

In my best-selling book on Bank On Yourself, a number of folks shared the personal and intimate details of how they’ve been using Bank On Yourself to reach a variety of short-term and long-term personal and financial goals and dreams.

Perhaps one of the most inspiring stories was shared by Greg and Christy Gammon. Since I interviewed them, their lives have taken some interesting twists and turns, and their Bank On Yourself policies have come to the rescue in surprising ways.

This short video update, filmed during my national book tour, reveals the details. Just click the play button below…

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No two Bank On Yourself plans (policies) are alike. Each is custom-tailored, so yours would be uniquely suited to your goals and dreams. It’s easy to find out what your bottom-line numbers and results could be. Simply request your free Analysis here… and take the first step towards taking back control of your financial future. Why not do it now, while it’s fresh on your mind?
Request Your Analysis Button

Videos reveal how Bank On Yourself turns dreams into reality

I think you’ll find the two short videos I’ve posted here of special interest, if you’ve been wondering how you’re going to reach your financial goals in today’s challenging environment.

The first video (filmed during my national book tour) reveals how the Corey Family is using Bank On Yourself to accomplish a number of goals and dreams, including:

Just click the play button below to find out how the Corey’s are doing all this…

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No two Bank On Yourself plans (policies) are alike. Each is custom-tailored, so yours would be uniquely suited to your goals and dreams. It’s easy to find out what your bottom-line numbers and results could be. Simply request your free Analysis here… and take the first step towards taking back control of your financial future. Why not do it now, while it’s fresh on your mind?

Now find out how the Bowsher Family used Bank On Yourself to help raise $100,000 for their church

[Read more…] “Videos reveal how Bank On Yourself turns dreams into reality”

Video Overview: Bank On Yourself in a Nutshell

We just completed a short, fast-paced video explaining what Bank On Yourself is and how it works, that I think you’ll find very helpful.

Click on the play button to discover…

  • How Bank On Yourself grows your savings both predictably and guaranteed… even when stocks, real estate and other investments tumble
  • How it can beat the pants off your best saving or investing method
  • How the kind of policy used for Bank On Yourself is different from the ones Suze Orman, Dave Ramsey and 99.9% of all financial representatives talk about
  • Why it’s an excellent alternative to traditional retirement plans
  • How you can use it to get back what you pay for major purchases
  • Where to find the money to get started
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After you watch the video, I’d love to hear your thoughts and feedback – so please speak your mind below.