Where are we taught to store our idle money? Which businesses seem to have the largest buildings in every town? The banks. In my town, they are scattered all around town and the banks make you feel like your money is safe. Perhaps it's safe, but did you ever stop to think about why the bank wants you to store your money with them? For every dollar you put in the bank, the bank then has access to $10 to lend back out. For example, say you receive a 2% return on your $1 which is $1.02 while the bank turns around and lends out $10 and charges an 8% interest rate. They now have $10.80 for every $1 you stored in the bank. Think about the compounding effect that would have with every clients' money that is going in and out of the bank every day. What if you could maximize your money like the banks do?
If you are curious about how to create your own infinite banking system, the book called "Becoming Your Own Banker" by Nelson Nash is a must read! I need to read it again. It will start to make you think like the banker, bank owner, borrower and saver. You can gain the benefits of each aspect of the banking system. Check out Nelson's website http://www.infinitebanking.org/. I had the good fortune of meeting Nelson in person. He is a true inspiration, incredibly knowledgeable and a spit fire at the young age of 80!
Good luck in your learning process!
Wendy
Wendy@PayItForwardStrategies.com
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