The Bankosaurus™ is our approach to smart financing for individuals and families–an approach that allows them to make wise decisions with their finances and be in a good place now and in the future. This is a game-changer.
OK, but what IS the Bankosaurus™?
“Banking is necessary, banks are not.” – Bill Gates.
In nerd-speak, the Bankosaurus™ is a strategy using dividend-paying whole-life insurance as your own personal bank. But, no one ever bangs on my door shouting “I want to buy a dividend-paying whole-life insurance policy for my personal finances!” So I’ll leave that language to the nerds.
And now, bullets:
The Bankosaurus means …
- … no more waiting until you retire to access and leverage your own money; you can access the money any time you want (*fists pumps*).
- … opportunity for great growth rates from a savings vehicle (we’re talking around 4% IRR over your lifetime).
- … that growth is income tax FREE (the best thing since tax-free sliced bread).
- … a jumpstart on legacy planning, as you can leave behind money for your loved ones sans income tax (say it louder for the people in the back).
- … your money will be protected from creditors, so it won’t get lost in a crazy loophole or grabbed by some ambulance chaser (on this one, rules do vary according to the state you’re in. I hope the state you live in is cool).
Bullets are Nice, but, Again, What IS the Bankosaurus™?
On paper, the Bankosaurus™ is an approach (it’s not a piece of software, it’s not a physical piggybank, it’s not a pill that you take and hope for the best. It’s an approach that so perfectly differs us from typical financial advisors.
In this approach, our goal is to create your own bank, your Bankosaurus™. Why? Because banks make money off of you, and if you had your own bank, you’d be making money off you.
Stick with me.
Banks make money off of what’s called “the spread.” To understand the spread, you should see it in action.
Let’s say you have $100,000 in a savings account at your local bank. This savings account offers you 0.10% annual return on your money (at the end of the year, the bank will have paid you $100). What does the bank do with your money. It lends your money out a higher interest rate of 4.1%, let’s say, interest-only payments for 60 months (the time doesn’t matter, this is just an example). After 12 months, your neighbor has paid the bank $4,100. The bank used your money, paid you $100 and netted $4,000. That’s the spread.
I’m telling you that you can be your own bank and take advantage of the spread. Instead of making $100, what if you cut out your bank and lent the money directly to your neighbor? Wouldn’t your rather get $4,000 instead of $100? It’s your money. Or, let’s say it was you that wanted that Tesla. Instead of borrowing money from the bank, borrow it from yourself. If your neighbor was willing to pay the bank 4.1% interest, wouldn’t you be willing to do the same for yourself? If you did, you’d benefit from the spread. Nice.
Yes, this is a general example and there are some details to cover, but this is the gist (I know it’s unlikely most people have $100,000 in cash to sock away in a savings account … and Tesla purchases soon won’t come with the same tax advantages they used to). But, I hope you understand the example. With this Bankosaurus™ approach, we help you make money like the banks do. With some changes in how you approach your own money, you can live off your own savings, and stop giving it all to the banks or (even worse) a Me-Smart-Me-Want-Your-Money-Type financial advisor. What we teach is transparent, which is probably why it’s not taught by 99% of financial advisors … and it works.
I Preach AND I Practice: My Family Personally Uses the Bankosaurus™ Approach
Back in 2009, I lost almost everything. When I went from a stellar credit score to practically zero, I decided to take action and created (and executed) the plan I now call “Bankosaurus™.” I didn’t have to go all Oscar’s drama and beg the bank for a loan. When I needed money for my LASIK surgery, I accessed my own money, made interest, and even saved 20% in the process. I used it to fund and launch my company, Greene; my wife and I used it to buy our house.
For over six years now, I have taught my clients how to use it to eliminate huge amounts of debt and make “bank” (by being their own bank).
Let’s talk, because if you’re a human and if you use money, the Bankosaurus™ could be perfect for you.
Schedule a call to learn more by clicking HERE.