Read Online The Bank On Yourself Revolution Fire Your Banker Bypass Wall Street and Take Control of Your Own Financial Future Pamela Yellen 9781942952107 Books

Product details Paperback 304 pages Publisher BenBella Books; Updated edition (March 22, 2016) Language English ISBN-10 1942952104

The Bank On Yourself Revolution Fire Your Banker Bypass Wall Street and Take Control of Your Own Financial Future Pamela Yellen 9781942952107 Books Reviews

• The book is an excellent description of how a dividend paying whole life policy from a mutual insurance can transform how a person manages their finances and builds personal wealth. Since 2009, I have owned a whole life policy with New York Life. After 6.5 years, it has a cash value equivalent to 4.33 years of premiums. I love that as nowhere else can that be experienced with auto insurance, homeowners insurance, and especially the stock market. I have borrowed money from the policy, and the dividends in the policy continued to earn interest. Originally, a New York Life agent turned me onto the "Infinite Banking" or "Bank on Yourself" process and ensured me the policy he sold me met those conditions. He was right.
  
  That said, it wasn't until I read this book that I realized I could have been maximizing the benefits of my policy for several years now. I had small sums of money in a bank account and investment account not working for me. Since reading this book, I have transferred the money into my policy. My credit limit for borrowing is now $13,000. This gives me access to a nice line of credit that I can use for major purchases and which can be repaid on my terms. I also have policies on two of my children and will open others as my finances allow.
  
  The negatives I found from the book are that it is used as a plug for her website and agents that sell these policies. While I am okay with the author using the book to build her business, why hide from the readers the names of the insurance companies that offer these policies? She explains why in her book, but I did not agree with her reasoning on that point. The insurers offering these types of policies are
  
  Massmutual
  New York Life
  Ohio National
  Met Life
  Lafayette Life
  
  I believe readers of the book will be sufficiently empowered to purchase policies on their own. If they choose to use the author's website, they should do so with all the information disclosed to them up front. Also, the author says policy loans are charged a variable interest rate. This is true with one exception New York Life. My policies have a fixed 5% interest rate. This is exactly the way whole life policies worked up until the high inflation of the 1970s forced most insurers to offer variable interest rates on new policies. I appreciate that New York Life has remained immutable during this whole time. Quite likely, New York Life does not allow their policies to be sold by anyone other than their own agents which is why the author says insurers of "Bank on Yourself" policies charge variable interest rates. It would be more accurate to say that the insurers she deals with charge variable interest rates on policy loans. Again, I believe people should be given a full disclosure of details in order to make the most informed decision possible.
  
  In summary, the book is excellent and will give you the knowledge needed to make this important decision for yourself. While I believe you can use the knowledge to buy your own "Bank of Yourself" policy, her website is a good resource as you would work with people experienced in this matter. I just believe the author held back on some juicy information in an overzealous ploy to drive readers to her website. The ultimate purpose of the book should be to fully empower readers as opposed to enticing them to visit her website.
• I sincerely wish had understood these concepts 30 years ago (banging head against wall, ahh!, oaky, now I feel better)...
  
  This book presents them quite clear terms an alternative way of saving and investing for the future and getting out of financial trouble that you have now.
  
  In the last 50 years, everyone has pretty much invested in real estate and mutual funds or put CDs at banks. Before that, many more Americans understood the value of dividend paying whole life insurance as an investment vehicle, savings, and retirement planning.
  
  It's a powerful concept--you can take a loan on your policy and yet the policy continues to earn interest as if the money was not being taken out at all.
  
  I am in the process of implementing these strategies for my family and I sincerely hope many will begin to understand the concepts presented here.
• This book offers a proven path to financial security. I have personally used this method for 14 years. My life has turned around financially and I now have financial security. I urge anyone looking to improve their financial situation to look into this.
• Very interesting, engaging, and persuasive presentation of a surprising way of looking at safe wealth building, insurance, and credit. It's all about putting yourself back into the driver's seat of your finances. This advice runs directly counter to what "they" tell us about saving for retirement, building our wealth, and managing personal and business credit. So far, the only guys I see getting seriously wealthy and bailed out of their mistakes are the banks and brokerage houses that peddle the conventional advice. They have not made me much money, but have made themselves fabulously wealthy. They make most of the profits, virtually guaranteed, while I take all the risk. This is another way, and it's worth serious consideration. And the funny thing is that it's not really new at all - it's very much like what our grandparents did. I am not quite ready to turn over all of my life savings, but I am following up with a Bank on Yourself Advisor to learn more.
• I enjoyed the easy to read style, but every third page had a link to a request for more information. It comes across as VERY sales oriented. In addition I found errors in her statements that were factually wrong regarding the insurance products. On the whole I agree with her, and what she is selling is truly excellent. But I would probably deal with other Infinite Banking reps instead.
• Good book outlining the principals and benefits of using whole-life insurance. Very good illustrations and compelling stories about how to use this tool effectively. After you understand the main principles, the book is a little thin on details. In fairness, you really need to work with an agent to develop a comprehensive plan, but some more details would be helpful. There are are other books that do a better job at going into the details of how to use this plan..
• I really liked this book a lot. There are very interesting ideas that Ms. Yellen talks about that I really feel need to be seriously considered at the very least. I have still not decided as to whether or not to get a dividend paying whole life insurance policy yet, but I am heavily considering it. I am going to need to do more research on this subject before I make a decision. That being said, its a great book and worth the read.
• Wake up call, is what this book is all about. Learning how to survive and thrive in our current financial system.
  We are taught all the incorrect ways of dealing with our financial lives, from cradle to grave. Now is the time to break out
  of that mindset.