3 Biggest Secrets To Your Infinite Banking System Using Whole Life Insurance With Mark Willis

“If I could do one thing with my money, to make everything else easier or unnecessary, building a personal reserve, like a bank, and using it for my own personal and business needs would change everything.” Mark Willis is a certified financial planner, a two-time number one best selling author, and the owner of Lake Growth Financial Services is a Financial Firm in Chicago. Over the years, he has helped hundreds of clients take back control of their financial future and build their businesses with proven tax-efficient financial solutions.

We all have to buy stuff in life. And you know, the Coronavirus changed a lot this year for a lot of our investors and a lot of our clients, but there are a few things that haven’t changed. One thing that hasn’t changed is our need to buy stuff. You know that heaters still gonna need to be repaired before winter comes so to speak. And also, one other thing that hasn’t changed is the function of banking. Banking is a part of life. It’s as old as human civilization. Right? I was reading a book called Debt, the first 5000 years. Talk about a title. Right? So as long as we’ve had human civilization, as long as we’ve been out of the caves, the concept of banking has existed. And that’s one of the reasons why when I was going to college down in Central Texas, there were always three buildings even in the smallest little Texas towns. There were the bank, the bar, and the church. And I kind of started realizing they’re kind of connected if you think about it, Brett right. First, you go to the bank begging for money, right? Then you go to the church begging God for, you know, to get a loan, and then you head to the bar when everyone denies you. Right. So that’s the strategy most people follow. In the banking world. We’re all sitting on the wrong side of the banker’s desk. And as the Coronavirus continues to impact our economy, we’re starting to see more and more even as we’re recording this in late September. Banks are having trouble. And there are higher rates of delinquencies and non-payments. I don’t know where things are headed. But the commercial real estate space looks like it has some pops coming. I don’t know what the future holds. But that’s the point. What else in our financial portfolio can give us The power of banking in our lives, you know, where else? How else can we recapture that banking function and bring it in the house if banking is gonna be a fundamental part of your financial portfolio, and why not have it in the house? That’s, and I know I’m off my soapbox. I promise, Brett. But that’s the biggest and most important financial tool in our tool belt. If I could do one thing with my money, to make everything else easier or unnecessary, building a personal reserve, like a bank, and using it for my own personal and business needs would change everything. So that’s a little bit about our specialty, and what I get so passionate about.

So, think of everywhere else, you could keep cash before we jump into whether or not you should have a 401k or a HELOC? Or where could you keep your cash for all of your personal needs, and also your real estate needs so that it does what you want it to do? Because where you keep your money, makes it do different things. It’s a different environment, right? If I put a fish in a salty ocean, it’s gonna thrive, it’s going to reproduce, it’s going to love life. If I put that same fish on the sandy shore, it’s gonna die. And the same is true with your money.

Well, the hidden fact is that this is what banks are doing. They’re using a little known variation of life insurance to be able to be part of their tier one capital. And part of their capital reserve requirements that they used to have before Coronavirus was to keep all this money into life insurance. It’s, you know, part of their reserve requirements to be FDIC approved. So do what banks do with you with their money, don’t listen to what they tell you to do with yours.

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