This seems to be an extremely popular question these days. In light of the recent events in the Stock and Real Estate Markets, many people have been left dazed and confused. The answer really depends on the way you answer a few of the following questions.

1. Are you tired of dealing with the uncertainty of the Stock Market?
2. Are you currently underwater with your Real Property?
3. Are you maxing out your qualified plans such as your IRAs, 401k, etc and wish you had better access to YOUR money?
4. Do you like the safety of saving accounts, CDs, and Money Markets but are not satisfied with the rates of return.
5. Would you like your money to enjoy several very important tax advantages?
6. Would you like to become self sufficient for many and possibly all of your future financing needs?

If you answered yes to some or all of these questions, the answer to the question is you should put YOUR money in Your Own Bank. I’m not talking about your local bank. I am talking about YOUR BANK. Would you like to have an account that you have total control over? An account that gives you the ability to mimic exactly what a bank does.

Haven’t banks been in trouble lately?

Yes they have, and for one reason only. Certain, not all banks in recent years have violated their own principles. Yes, the very principles that have been responsible for their success for thousands of years.

What are those principles?
1. Banks lend and do not invest.
2. Banks transfer risk away from themselves.
3. Banks turn liabilities into assets.

If you don’t think banks have learned their lesson, try going to the bank and purchase a property with no money down. Then tell them you would prefer no have a stated income loan (one where you do not prove your income). I think it’s very clear to everyone that those days are over.

So, why would you want to Mimic a bank?

Let me start by asking you another question. If you drive downtown in any city in this Country (or any Country) and find the tallest building you can, look up at the name at the top of that building and tell me whose name is on it. Chances are it’s the name of a bank! You will also notice the lobby is made of beautiful marble and there is a gigantic fountain in front. I don’t know about you but most of the people I know go not have fountains in their front yard. The closest I have come was when my gardener broke an underground water line last year.