How You Can Be the Bank

Posted by YouBeTheBank.org Advisor – Josh Thompson

Sometimes, in order to conquer your money situation, you have to learn to Be the Bank.

But that isn’t always easy. But it is possible. What are the steps necessary in order to Be the Bank? Let’s look.

1) Capitalization – The first step is quite possibly the hardest. In order to Be the Bank you have to first capitalize your bank, meaning get enough money into it in order for it to grow. Now we recommend contacting us in order to setup your bank through dividend paying whole life insurance policies, because of the many advantages talked about on our site http://www.youbethebank.org …

And we have our reasons. But suffice it to say that capitalizing your bank is the hardest part. It can take some time to build up that extra capital. However, if you really focus your time and energy, you can build it up in a short amount of time so that you can start reaping the benefits.

2) Borrowing – Now that you have capitalized your banking system, you are ready to start borrowing money. Make sure that when you borrow money from your You Be the Bank policy, that you are keeping a schedule and putting everything in writing.

3) Pay Yourself Back – Now that you have started borrowing from your policy, it’s time to start paying yourself back. Make sure you setup an amortization schedule. Also, MAKE SURE YOU ARE PAYING YOURSELF INTEREST.

And remember, because you are paying the money to yourself, there is no reason for you NOT to charge yourself a bit higher interest rate. This is the cost of money, and it can be a great benefit to you.

Treat yourself like the bank would, be an honest banker, and your You Be the Bank policy will flourish and provide for, not only you, but generations to come.