When opportunity knocks, will you be ready?

In every economy – whether boom or bust – opportunities arise.  Unfortunately, most people don’t have the financial resources to take advantage of them.

This is an inspiring story of how people are using the Bank On Yourself method to be in a position to take advantage of some amazing opportunities…

Here’s a new reality: You need cash now more than ever. Not credit. Not equity. Cash.”
– “Why Cash is King,” Men’s Health, November, 2010 issue

“Bank On Yourselfers” Joni and Dave Schultz

Take Joni and Dave Schultz, who just happen to be my sister- and brother-in-law.  Joni is a hospital department supervisor and Dave just retired from his job in construction.

“Bank On Yourselfers” Joni and Dave Schultz

They came to visit us recently, and Joni’s first comment when she walked in the door was, “Now I get it!  I understand why Bank On Yourself is so much better than using a credit card or finance company, and why it’s even better than paying cash for stuff!

Joni and Dave started a Bank On Yourself policy about five years ago, in order to supplement their retirement income and add predictability to their financial plan.

But they’d never used it to finance any purchases… until now.

Opportunity knocks…

Joni figured it would be a smart move to convert their home’s electric system to a solar-powered system.  It would save them thousands of dollars every year on their electric bills, which would come in handy, now that Joni is hoping to retire in five years and Dave’s already retired.

Plus, they wanted to make a contribution to a greener planet.

But converting to solar can be an expensive proposition.  Fortunately, Joni discovered that their electric company was offering a 50% credit to anyone putting in a qualifying solar system… but only for a limited time.  So she borrowed $23,500 from her Bank On Yourself policy in order to pay for the system, in full.

The Shultz' electric bill will fall from hundreds of dollars a month, to just under $15 a month, saving them thousands of dollars every single year!
The Shultz' electric bill will fall from hundreds of dollars a month, to just under $15 a month, saving them thousands of dollars every single year!

A portion of the money went towards something that had long been on their wish list – landscaping and paving their patio and installing an outdoor grill.  (“You know, food really does taste better when cooked on a high-quality grill,” Joni says.)

But Joni and Dave will also qualify for very generous federal and state tax credits for the solar system when they file their tax return, bringing their out-of-pocket cost for it to close to ZERO!

Their electric bill will fall from hundreds of dollars a month, to just under $15 a month, saving them thousands of dollars every single year, for as long as they live in the house!

Joni borrowed the money from her policy without an application, without the approval of a loan committee, and she can’t be turned down for a loan!

She set her own loan payback schedule, and when she finishes paying it off, she’ll have the solar system, a great patio to relax on and entertain, AND all the money she paid for it will be back in her policy, where it will then help fund her retirement.

Want to find out how much guaranteed income you could take in retirement – regardless of what happens in the stock and real estate markets?  Request a free Analysis and find out.

Additional benefits of using the Bank On Yourself method to finance purchases include…

  • You do pay interest on policy loans, however, that interest ultimately ends up in your policy, as I explain in detail here
  • Some companies – like the one Joni’s policy is from – offer a feature that lets you continue earning the exact same guaranteed annual increase, plus any dividends, on the money you borrowed! Which means you can use your money and it keeps growing for you just the same!
  • If you used a savings or money market account or CD to save up enough to pay cash for a big purchase, you earn ZERO interest on the money you take out to buy something, of course.  Not to mention that the interest rates on these accounts are ridiculously low. The growth in a Bank On Yourself policy beats these other accounts by a mile
  • If you ever need to reduce the amount you pay back, or even skip it for a few months if you run into a tight spot, you can do that, and no bill collectors will call, you won’t pay any late fees or get a black mark on your credit report
  • You have the advantage of having a “rainy-day/opportunity fund” that doubles as your retirement fund – growing consistently and predictably every single yeareven when stocks, real estate, and other investments tumble!
  • Unlike Joni’s 401(k) plan, which she had contributed to for decades with little to show for it other than sleepless nights, you can know the minimum guaranteed income you can take in retirement from a Bank On Yourself policy.  And you can access the money with little or no tax consequences, under current tax law

For these reasons – and many more – financing things through a Bank On Yourself-type policy beats traditional financing, leasing, or even directly paying cash for things!

Opportunities come in all shapes and sizes…

For example…

  • The Bowsher Family used Bank On Yourself to help raise $100,000 for their church.  This is a very creative way to raise funds for your church, temple or favorite charity that almost anyone can useopportunity name tag

    Watch the video to learn how

  • Greg and Christy Gammon used their Bank On Yourself policies to get the funds to be able to adopt a baby girl when that opportunity came up unexpectedly.  They’ve also used it to finance some real estate investments

    Watch the video of the Gammon’s inspiring story here

The ways you can use Bank On Yourself are limited only by your imagination!

But to be in a position to take advantage of these opportunities, you need to get your Bank On Yourself plan in place now, if you haven’t already.

Being a good financial citizen requires that you first build that great wall of cash.” 1

And we challenge you to find a better place to “store” that cash than in a Bank On Yourself policy.

A wall of cash protects us from everything.” 1

If you want a better financial life, “small steps, taken consistently over times, are truly the road to success,” according to financial behavior researcher, Sara Wedeman, Ph.D.1

So, if you haven’t already added Bank On Yourself to your financial plan, why not take the first step now, and request a free analysis that will show you how a program tailored to your unique situation can help you reach both your long-term and short-term goals as quickly as possible?


Don’t know where you’ll find the money to fund your plan?  A Bank On Yourself Professional can show you at least eight places to free up funds –  and sometimes that can happen with no additional out-of-pocket cost to you.

Not sure how a Bank On Yourself policy is different from the ones the financial gurus talk about? Learn the difference and see the proof here.

1. “Why Cash Is King,” Mike Zimmerman, Men’s Health, November 2010


  1. […] [Read about how Joni and Dave Schultz used their Bank on Yourself whole life policy to pay for installation of a qualifying solar energy system for their home, taking advantage of a 50% credit offered by their electric company.  Combined with federal and state tax credits, their final cost for the solar system was close to zero.  Moreover, their electric bill shrunk from hundreds of dollars to just under $15 monthly.] […]

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