Contact Us 865.470.4162
877.692.0468
Navigation

 

  SOCIAL SECURITY STRATEGIES   SAFE MONEY STRATEGIES   THE RETIREMENT MIRACLE   LIVING BENEFITS MEDICARE SUPPLEMENTS   WEALTH BEYOND
WALL STREET
 

Becoming Your Own Bank

In today's world almost everyone relies on banks. Most people and businesses could not survive without banks. It seems like there is a bank on every street corner, and the well- managed banks are making huge profits. Have you ever given any thought about the way banks function and how simple the business model really is?

It goes like this:

*The customers deposit their hard earned money in their bank to keep it safe.

*The bank takes those deposits and invests the money into a liquid, interest bearing account until they find a borrower.

*The bank then loans the money out to the borrower and charges an interest rate.

*The bank pays a smaller interest rate to its depositors.

*The bank makes money on the spread between what interest rate they receive vs. the interest they pay out. This is known as arbitrage.

It is a simple, and very effective money management strategy. What interest rate is your savings or checking account earning? What interest rate are you paying on your home or car loan? Pretty good deal for the banks, huh? It reminds me of the old saying "He who has the gold makes the rules." What if instead of paying all that interest to your bank you paid it to yourself? You could make those big profits by borrowing money from your "bank."

If you own the bank:

*You still make your regular deposits.

*Your money is safe, earning a fair rate of interest, and growing tax deferred.

*When you need to borrow money, you borrow from yourself.

*You pay yourself back with interest.

Wouldn't this be a much better way to manage your money? Wouldn't it be liberating to say good-bye to banks and credit card companies? This is a great way to build wealth. The bottom line is your money is growing much faster because you're recouping all those interest payments that would normally go to your bank or credit card company.

Consider the advantages of becoming your own bank:

*No more worries about credit reports.

*You'll never be turned down for a loan.

*Your money is readily available for emergencies.

*You make all the profits.

*You are building a tax free retirement income.

Hopefully, by now you like the idea of becoming your own bank. You need three things to make this work. You will need patience, discipline, and the right investment vehicle.

This money management strategy is powerful. With patience, determination, and discipline you can become your own banker. You will be employing the same strategies banks and credit card companies use to create enormous wealth. So, pay interest to yourself when you borrow money and enjoy owning your own "bank."

Note: To learn more about this strategy call my office and I will be happy to go into further detail with you. 865-470-4162

Posted 1:54 PM  View Comments

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version




 
Our Carriers Our Company Services Contact Us More Help
Home
Who We Are
Events
Customer Service
Get A Quote
Insurance Types
Send A Message
Locations
Glossary
Frequently Asked Questions
GET SOCIAL WITH US Facebook  LinkedIn  
9041 Executive Park Drive, Suite 250 | Knoxville, TN 37923
Local: 865.470.4162 | TollFree: 877.692.0468 | Fax: 865.381.0712
Powered by Insurance Website Builder

Join Our Newsletter Event Calendar Our Partners Refer a Friend