There are two types of savers – one who spends first and saves what’s left. The other saves first and then spend what’s left. Can you guess who will have more money when they retire? According to a report from the Federal Reserve last year, four in ten adults said if faced with an unexpected expense of $400, they would not have the money to cover it. I want to help you change that, and I have the perfect plan for those that are disciplined and truly want to take control of their financial future.
Think about it – we work our entire life to earn money to cover the expenses to finance this thing called life; day to day expenses, big-ticket items, and to fund our retirement. We turn the heat down at night and shut off the lights to save money and not be wasteful. We clip coupons and look for sales to save a buck. While these things are important and can impact our overall spending, it’s the volume of interest we pay to others that has the biggest hit to our savings. Did you know approximately 34 % of every after taxes dollar people have goes to pay interest? Thousands and thousands of dollars go to someone else, and most of us just accept that’s the way it is. Dream with me for just a moment. Imagine if you were able to create your own family bank. This bank would allow you to make loans to yourself and to your family members for major expenses like cars, weddings, tuition, vacations, business opportunities, and financial emergencies. Imagine the volume of interest that would stay in YOUR family banking system, completely under your control and not be lost to outsiders likes banks and credit card companies.
It is also imperative that you value your money just you would value the bank’s money. Which means when your family borrows money from your bank, they will pay you back, with interest. Think of how great it would be if you and your family could forgo the unpleasantness of going to a commercial bank, filling out endless forms, answering personal questions to qualify for a loan (fun stuff, right?) and then being required to repay the loan on the bank’s terms. Think of everyone in your circle that this could apply to: Who do you know that is carrying high interest-rate, credit card debt, car loans, those with a private school or college tuition to pay? Of course, this method takes discipline to be successful, it’s not magic, and it doesn’t happen overnight. It is not for those who just say they want to be financially independent; it’s for the individual who is willing to do the work to make it happen. This is what I do every day; I help people efficiently build up a pool of capital that they control to use over and over again during their lifetime, that can also provide tax-free income in retirement and then create a legacy to pass on to their children and their children’s children.
Nelson Nash, author of “Becoming Your Own Banker’” says “if you know what’s going on you will know what to do,” We believe that knowledge is king, and when it comes to your personal economy, no one should care about it as much as you. Read, study and ask questions. Nelson also says, “If you build up a pool of capital that opportunities will seek you out.” I can’t tell you how true I have found this statement to be, personally and for my clients who use this strategy.
If what I am talking about has made you curious, and you want to learn more, I suggest you start by reading Nelson’s book “Becoming Your Own Banker” or give me a call, and we can have a conversation about how you can get on the path to financial freedom.
