Thursday, April 22, 2010

Bank on Yourself

It used to be that you could sock your money away in a bank and actually SAVE for something. Now, if you don't have enough in your savings account - the bank actually CHARGES you a fee. Yes there are CD's - but have YOU SEEN THE RATES? I've always been a fan of mutual funds, since picking stocks is for the professionals, but lately that hasn't been so good either.

Conventional investing is NOT what it used to be and I recently read the book Bank On Yourself: The Life-Changing Secret to Protecting Your Financial Future which offers a DRAMATICALLY different approach to investing and financial planning. Pamela Yellen shows how you can forget about the stock market, and not have to worry about what's up and what's down.

Here are some of the items that she speaks about in Bank On Yourself.

  • Have a rock-solid financial plan and a predictable retirement income that can last as long as you do -- with no luck, skill, or guesswork required
  • Turn your back on the stomach-churning twists and turns of the stock and real estate markets
  • Get back every penny you pay for your cars, vacations, home repairs, business equipment, a college education, and other major purchases, so you can enjoy more of life's luxuries today without robbing your nest egg! (The average family could increase their lifetime wealth by $500,000 to $1,000,000 or more using this method, without the risk or volatility of stocks and real estate)
  • Become your own source of financing and recapture the interest you pay to banks and finance companies -- reduce or eliminate the control those institutions have over you
Throughout the book she gives example after example of how real people were able to use what she calls a "B.O.Y."  to pay for college, finance businesses, eliminate debt and build their retirement nest egg. Her claims make a lot of sense (and I'm guessing that a lot of other people feel the same way as this book has been on the NY Times Bestseller List,  USA Today and BusinessWeek's Bestseller lists). These are actually tried and true methods, but not something you would normally think of when setting up a savings program.

Now out in Paperback - Bank On Yourself: The Life-Changing Secret to Protecting Your Financial Future is only $10.05 at Amazon.com. That's a small investment that could really impact your financial future.



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13 comments:

Raven Waldenpond said...

sounds like a different approach and I am all for that

mmentor said...

sounds very interesting

kohndr said...

Subscribed to Champagne Living

kohndr said...

Following on Twitter

Charlene said...

Follower on GFC

Nancy said...

I follow your blog via Google Friend: allibrary.

Nancy
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Nancy said...

I'm an e-mail subscriber.

Nancy
allibrary (at) aol (dot) com

Nancy said...

I also follow B's blog via Google Friend: allibrary..


Nancy
allibrary (at) aol (dot) com

kathy pease said...

following your blog as klp1965

kathy pease said...

following on twitter klp1965

kathy pease said...

email subscriber

lilyk said...

I subscribed to your blog.

Bonita12 said...

blog follower
bwalker1123 at gmail dot com

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