5 Benefits of Becoming Your Own Bank

Considering taking out a loan?

Why not just lend yourself the money?

Yes, it's that easy when you become your own banker by practicing a financial strategy that leverages permanent life insurance to put you in control of your own money.

No more walking into the bank, hat in hand, filling out applications and waiting to find out whether or not you qualify for a fantastic interest rate. No more fees--application, origination or otherwise.

It's just you, your money and whatever you want to do with it.

That is, IF you are your own banker.

To be your own banker, you take out a dividend-paying, compound-interest generating whole life insurance policy and use its accrued cash value to finance your dreams.

When you are your own banker, you cut banks out of the lending equation, keep more of your own money and build wealth.

You also get to realize these five less obvious benefits:

1. You stop the transfer of wealth

Well, you don't stop it entirely. But you do stop your wealth from being transferred to banks, credit unions, financial companies, Wall Street and even the government.

Instead, you put yourself in control of your wealth and to whom it is transferred. Family? Friends? Causes you care about? When you are your own banker, you determine who benefits from the smart financial decisions and hard-earned wealth--and you do it when you are ready to transfer your wealth to them.

2. Capture, use and reuse your money

When you are your own banker, you have the ability to emulate a bank by recapturing, reusing and recycling your own money--and that is an incredibly powerful way to quickly build wealth.

Recapturing, reusing and recycling your own money is all about making use of the multiplier effect.

Because you have easy access to money, you can keep your money moving, investing it, recapturing its interest, reusing it over and over again (the same way banks do) and recycling it.

That's a fast way to build wealth.

3. Liquidity

When you practice the art and science of infinite banking (on which the concept of being your own banker is built), you have control of your money--and it's liquid.

You will usually have access to about 90 percent of your money, and you can get the money whenever you need to get it. And you won't have to pay any penalties or fees. In most cases, your money is typically accessible within 20 days, which is much quicker than most banks.

That's liquidity in the truest sense of the word.

4. Equity

Owning a whole life insurance policy is a lot like owning a home because the policy eventually builds equity. As you would with a home, you are allowed to take out loans against the equity--and the underlying policy continues to grow.

It. Keeps. Growing.

This ability to use equity as collateral allows you to have every available dollar of cash value do more than one job. When that happens, you are taking advantage of the multiplier effect to quickly build wealth.

5. Flexibility

When you are your own banker, you have multiple ways to access your own money. You can make a withdrawal from the cash surrender value, leverage dividends (if they are paid) and take out a loan against the cash value.

And, when you take out a loan, you have the flexibility to decide how and when to repay the loan (something banks don't allow).

As long as the policy remains sufficiently funded, you are basically free to do whatever you want with your money.