How to set up private family banking

HOW TO CREATE YOUR OWN FAMILY BANK

For acting like a bank, and directing wealth transfers back to yourself, phases 1-3 are the main focus, but all 5 are included, for each phase represents multiple uses of your dollars:.

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how to set up private family banking

Scott Hamilton of InKnowVision, a sophisticated wealth management consulting group has put several of these banks together for his clients.

The key to both property ownership and whole life insurance, is the ability to use them as collateral and get your money to do even more jobs…like a bank does. First, you must have a system that will: Building a system of banks increases your personal wealth.

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Take Control of Your Financial Life

Again, it is a long term insurance product and should be considered to be part of your lifelong financial objectives. For acting like a bank, and directing wealth transfers back to yourself, phases 1-3 are the main focus, but all 5 are included, for each phase represents multiple uses of your dollars: How do you do this? Similar to home ownership.

how to set up private family banking

If you choose to receive a policy loan from an insurance company, you will have greater flexibility in deciding how and when to repay the loan than you would if you got a loan from a bank. Dividend paying whole life insurance can provide you with a guaranteed, permanent, growing, tax-free death benefit and a guaranteed lifetime premium regardless of health changes.

how to set up private family banking

Deans says, family businesses are no place for incompetent children. Edward Griffin. Higher rates of return can be achieved elsewhere. Banks are successful because they… Look at the overall picture of finances and how an economy works.

how to set up private family banking

By continuing to use this website, you agree to their use. I have a client who owns a specialty manufacturing company.

how to set up private family banking

So you see why, combining volume with the velocity of money which the bank uses to turn that volume into more dollars to keep and re-lend over and over you have a system which is extremely profitable. Most advisors will focus on spending YOUR money which you use to maintain your current standard of living for example, the money you use to go on vacation, buy things to enjoy etc. Gives you opportunities for leverage and opportunities for investments.