HOW TO CREATE YOUR OWN PERSONAL BANK: An Overview

Do you know that we can become our own source of financing and recapture the majority of the interests we pay to banks and lending institutions?

Here are the basic steps we need to take.  I will discuss each step in detail in subsequent postings.

1. Get a whole life dividend-paying insurance coverage;
2. Capitalize your coverage (which is your “bank”) for at least five (5) years;
3. Establish several “bank branches” during your lifetime

 By doing the above and becoming our own banker, we can get back every centavo we pay for our big ticket items such as a house and lot, cars, vacations, college education, retirement pension fund, credit card payments, mortgage redemption, etc.

By properly establishing your own personal bank/s, you can have a rock-solid financial plan and a predictable income during your retirement years, with NO luck, skill or guesswork required!

In fact,  our personal bank will spare us from the stomach-churning twists and turns of stocks, mutual funds, real estate and other investment vehicles.

I will discuss the first step on  my next posting.