A College Student and Infinite Banking

Thanks to Jake D. for sharing his personal experience with the banking concept.

As a college student, creating a financial plan for the future was definitely not on the top of my priority list. I knew I needed money and that I wanted to accumulate it throughout my life, but I figured that process started when I was older; with a full- time job and a family of my own. I realize now, and regret not understanding earlier, that this way of thinking prohibits young people from very beneficial financial options. I learned that becoming your own bank is one of the many options for young adults to build financial security.

When I was first introduced to the concept of becoming your own bank, I was definitely skeptical, despite the fact that someone I really trusted was the one advocating it. And it wasn’t only the fact that I trust him as much as anyone I know that I decided start my own banking system. The overall concept of avoiding interest on loans levied by banks, while building on the money I put into my policy, was simple enough for me to understand and I started my “bank” in the summer of 2010. I also liked the fact that it is not a get rich quick scheme. It takes discipline and conscientious effort to make the concept a success, and that speaks to its legitimacy.

Almost a year has passed since I signed up for my policy and I am still discovering what benefits it can have. I have seen, in practice, the security and logical sense that make the idea a successful endeavor.I am grateful that I was able to start the process at an early age and I look forward to it benefitting me and my future family.

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