Family banking is a way for families to take control of their finances, so they don’t have to depend on traditional bank lending or government plans. Having control of your finances is one of the most important things you can do over your lifetime.
What if you discovered that interest rates were not the problem, and that the volume of interest we pay was the real issue we should be concerned with?
The volume of interest is the real issue, not the annual percent rates.
~R. Nelson Nash, Bestselling Author of Becoming Your Own Banker
In this post and video, I’ll be sharing…
3 Secrets of the Wealthy
- Control is the single most important thing about your finances
- Have your dollars work harder by creating leverage using OPM
- The V2 Multiplier, do what banks do and keep your money moving
Access to Capital
Another problem is most people have little to no liquidity when it comes to accessing the capital that they have already saved.
When you have control of your money, it’s liquid and available to you for emergencies and opportunities. Imagine having access to capital whenever you want to use for lifestyle or business purposes.
In this post I want to show you exactly how you can create your own private family bank.
Watch this video for all the details on How To Start A Family Bank.
You’ll want to watch the entire video, so if you don’t have time now, be sure to subscribe to Legacy Money and save the video so you can come back and refer to it over and over.
Infinite Banking is a process that can help you take control of your finances.
I’ve been sharing the Infinite Banking Concept (IBC) with clients all over the country for the last 16 years, when I first got licensed in this business and met Nelson Nash the creator.
And for at least 10 years I’ve been working with, and teaching other advisors and agents on the correct way to build these plans.
Family banking is just another name for IBC that can provide you with many other real financial benefits. Imagine having your dollars work harder and achieving multiple results for you, and your family.
If you’ve ever dreamt of starting your own business, could you think of any business better than your own family bank?
“The Infinite Banking Concept is not a bank; it is a thought process that represents a major paradigm shift.”
~Nelson Nash, author Becoming Your Own Banker
Your ability to control your cash-flow is the key to understanding how to create your own family bank. Nelson Nash related this human factor to Parkinson’s Law in his book, Becoming Your Own Banker.
We typically pay for the major purchases we make with credit through other banking institutions. While debt is the outcome for the individual, credit expansion is the much deeper problem with traditional banking.
This creates a problem for everyone because of fractional reserve banking. Traditional banks lend more than what is on deposit with them (fractional reserve lending), and in doing so expand the supply of money via credit.
The problem is so widespread that a solution seems impossible, but fortunately there is a solution. This solution’s only requirement is the action of a single person or family acting in a way to not only help themselves, but in doing so also helps society.
Fractional reserve banking leads to obligations that can not be fulfilled from the outset. The borrower and the depositor actually become owners of the same money.
What If?
What if you could create your own system for financing all of your major purchases over your lifetime? A system where you could recapture the principal and interest that you would normally pay and transfer away to others. And, along the way create a legacy of financial stewardship for your family.
You can enhance your family’s wealth building ability by utilizing your family’s bank for personal financing. And, once you learn the basics should can provide capital financing and cash flow for business uses.
If that intrigues you, and you’re sick and tired of turning your hard earned money over to the Wall Street Casinos, then Family Banking may be for you.
Real Examples of Family Banks
Did you know Walt Disney and JC Penney used life insurance to fund their business empires?
The elite and wealthy have understood the secrets of banking for years. Think of the Rockefellors, Vanderbilts, Kennedys and Morgans.
There are many examples of Family Banks, but perhaps the most famous is the Rothschilds.
The Real Problem with Traditional Banking
Fractional reserve banking leads to obligations that can not be fulfilled from the outset. The borrower and the depositor actually become owners of the same money.
Financial institutions (banks and lenders) are forever creating incentives to coax consumers into financing with them. They offer initial low rates, gifts and convenience. But sadly, many times consumers have no idea what they are really signing up for.
We typically pay for the major purchases we make with credit through these other banking institutions. While debt is the outcome for the individual, credit expansion is the much deeper problem with banking.
This creates a problem for everyone because of fractional reserve lending. Traditional banks lend more than what is on deposit with them, and in doing so expand the supply of money via credit.
The problem is so widespread that a solution seems impossible, but there is a solution. This solution’s only requirement is the action of a single person or family acting in a way to not only help themselves, but in doing so also helps society.
A Better Way, The Solution
Infinite banking is the solution to the destructive problem of fractional reserve banking. By practicing IBC, private reserve or family banking, you can grow your wealth safely and predictably without having to depend on traditional banks, therefore eliminating dependency and the need for credit reporting.
Privatized Family Banking is a valid solution and alternative to traditional financing. Also known as Infinite Banking or IBC, this private method for financing, provides the ability to create generational wealth without bank rules or credit score qualifying.
When discussing Family Banking, we are referring to the method or concept of using permanent, dividend paying, cash value life insurance from a mutual company. These specifically designed policies can be utilized to create a multi-generational, family banking system.
It is simply a way for families to take control of the banking function in our lives. A way reduce or eliminate the wealth transfers to interest and fees, and keep the money in the family.
Building the 10%
While the solution may seem clear to us, we do have obstacles and push back. That’s why it is imperative to share this concept with others, so they too can see the light.
The power of the 10% is found in our similarities. People of like minds can empower an idea that we truly believe in to change our environment, not only for our personal good, but also for the good of our fellow man… We represent an Exodus— a way out.”
When you learn how to become your own banker, you can escape the enticement of the banking monopoly and build your own wealth privately.
How To Start A Family Bank in 3 Easy Steps
Just follow the steps below and get started with “family banking”.
- Read the book, Becoming Your Own Banker®
- Take Action – Apply with an IBC Practitioner
- Follow the Infinite Banking Concept® Rules
Until next time, start banking!
Barry Page
Infinite Banking Concept® Authorized Practitioner
Barry Page is an Authorized Infinite Banking Concept® Practitioner. He is recognized as a leading expert on finance and life insurance. He is a an independent life insurance agent who helps clients with alternatives to traditional banking and investing.