I spent the first 44 years of my life spending money. I started my financial education in 1997…11 years prior to looking into Bank on Yourself. This program was “outside the box” of all that I had studied and all that I had “learned” from the studying I had done. So I was fearful that I might lose money here.
My definition of the word “Investment” is…money you can afford to lose. Yes, I invest, but I know what my risks are and I know that if I lose the money I invested, I can afford to…not that I like losing money…but I know for big gains, you have to take risks…and those risks can become big losses too. A lot of people call me and ask me where they should invest. Because I am a Financial Coach, and not a Financial Planner, I don’t give investment advice. I wouldn’t want my name attached to anything where people can lose money when they can’t afford to. I’ve offered close friends investment opportunities to invest with me in projects, but they know they could lose everything they invested if it doesn’t work. So at that point it becomes their decision. The times I have done that, I have put in writing that if they can’t afford to lose what they invest, then they should NOT be involved. Fortunately, that hasn’t happened yet. But it could.
Because Bank On Yourself was new to me and I had no education about it, I was skeptical. I had always heard things like “don’t buy whole life insurance, as it’s a waste of money!” Even though this program is so much more than that, it is backed by whole life insurance…which is what makes it so secure! I was always told to “buy term and invest the difference.” But what people do is “buy term and SPEND the difference!” Then when the term policy runs out, they have spent the extra money and have lost their insurance policy because it expired! Or they have to pay a LOT more money for a NEW TERM POLICY that will also expire. It’s a gambling match…will you die before your insurance expires??? My family was worth way more than that gamble!
The word FEAR to me simply means “lack of information!” For instance when I got into cryptocurrency, I knew nothing about it. All of my friends told me I “had to buy Bitcoin”…obviously I was skeptical. So instead of doing nothing.or taking a lot of risk…I invested $3,000 in education on Cryptocurrency. Then I invested $50,000 and I have pulled out $100,000. So I doubled my money. I didn’t just buy Bitcoin either. I also purchased some alt coins. I still have right at $40,000 still in the portfolio waiting for the next bull run. I wanted to LEARN MORE before I took my risk, so I knew what the risks were because I invested in the education…which took away the FEAR!
So when Bank On Yourself came along, I spent two years reading books that Teresa Kuhn sent me in order to learn more about it, so I could make an informed decision, not an emotional one. Teresa continued to be patient with me, and continually answered questions. The more I learned the more I liked it. It fit what I was REALLY looking for. A SAFE, RELIABLE place to store my money that offered a good return where there was no risk and it paid me significantly more than banks did…with no fees!
Better yet, I had access to my money at any time without having to ‘qualify for a loan’…and I didn’t have to worry about my credit score (even though it’s excellent). I could just request the money, and within a week, it was directly deposited into my bank account. I didn’t even have to tell them WHY I wanted the money. Also, when I withdrew money to pay cash for cars, real estate, etc, (you always get a better deal with CASH offers…which saves you even more money) Bank on Yourself continued to pay me dividends on the money I withdrew…as if I never took it out. In addition, the dividends they pay me are a little bit higher than the interest I pay on my loan (back to myself). So mentally…it’s like they are ‘paying me to borrow my own money”…that was something I had never heard of. I could pay it back with monthly installments, or on any schedule I wanted…I even had the option to not pay back the loan at all…because my whole life insurance policy guaranteed the loan would be repaid in the event of my death had I not paid it back.
Through Teresa’s coaching, I learned a proven method where to put my money and not take ANY RISKS. I wanted to know exactly how much money I would have at retirement. A Bank On Yourself policy can give you that! But you can’t get that answer when you’re investing in the stock market, real estate, or any other volatile investment. Again, you CAN with Bank On Yourself.
Today, I not only believe strongly in Bank On Yourself, but I have 5 different Bank On Yourself policies. Bank On Yourself has allowed me to feel SECURE about my future. Yet I still have the option to ’take risks’ and put my money in volatile investments if I decide to….based on the risk factors I’m willing to accept.
If TRUE FINANCIAL SECURITY is what you’re looking for, you owe it to yourself to schedule a call with Teresa Kuhn at Living Wealthy Financial to learn more about this amazing Financial Security Blanket!