Bank On Yourself

We started Bank On Yourself seven years ago and now have 13 policies. When we were maxing out our 401(k)’s and IRA’s, we were only up 2% TOTAL over a 14-year period! Our BOY policies never go backwards and the increases are guaranteed and predictable. We’re excited to watch our policies grow.

I had very limited control of my money in my 401(k). I couldn’t put in as much as I wanted, and I needed permission to borrow my own money, if necessary. Bank On Yourself gives me control over my money. We’re also using it to pay for our two sons’ private school education in one installment to take advantage of a discount. I didn’t want to have to ask for permission to use my money.

The first way we used Bank On Yourself was to take a vacation to Mexico – the first true getaway for my wife and me since we were married eight years earlier. You don’t have the guilt associated with putting the cost on a credit card or using your savings to pay for it. I cashed out my 401(k) plan from my former company to get started. Now we’ll be able to take a vacation every year – without the guilt!

My wife and I experienced our grandparents getting scammed out of a good deal of their savings, so, I read Bank On Yourself (twice), took notes, thoroughly investigated the website, and read all I could about Bank On Yourself on the internet from both critics and supporters. We just wanted to be sure that we would not do something that would put our finances in jeopardy. We decided to take a loan from our plan to do some home improvements to see how this whole “loan thing” worked. We wanted to understand the actual process before our children went to college. It was so easy that now we laugh at the idea of trying to “understand the process”. There is no process, it’s our money. My son is now at a private college and we are paying them through this plan. I am trying to think of other ways to use my money now! It’s actually enjoyable paying the interest to ourselves and not the bank!

I’ve just gotten started, but already I feel more confident about my future than I have in my entire life riding the Wall Street roller coaster. I love knowing that if I am ever in a place where I need money unexpectedly, it will be there. I tell my clients about it every day. Simply put… peace of mind.

At age 50, I realized I need more guarantees than gambling with my retirement savings. We make a good living, but didn’t have access to the money in our profit sharing plans and 401(k)’s. And we knew we’d have a big tax bill coming. Bank On Yourself is the solution. It isn’t a get-rick-quick scheme, but it does let you get rich slowly and guaranteed.

It’s simple and it just makes sense. I used a loan from my Bank On Yourself policy to pay off my truck. I saved thousands of dollars in interest to the finance company and pay myself back with interest. I have peace of mind knowing I have a source of funds available to me in times of need. I can pay loans back on my terms and all the interest goes back into my account.

I like being able to leverage the equity in my policies for major purchases. My family is secure in the knowledge that our funds are backed by a proven 100-year-old strategy. Bank On Yourself helped us purchase two new family vehicles. We’re paying ourselves back and continue to see our policies grow every year. We’re also using it to help pay for college expenses for our two children.

Bank On Yourself only goes up and never down like the stock market. Four months after I started Bank On Yourself, I was in a bad accident and totaled my car. I never thought I’d need to use it that soon, but I called my agent and he asked how much I needed for a new car and how much time I wanted to pay it back and that was it. With Bank On Yourself, you control your own destiny and it’s a great way to save for retirement.