Have you ever thought about becoming your own banker? This infinite banking concept is gaining immense popularity especially at a time when managing personal finances is proving to be a daunting task. With this concept, individuals are able to build their own financial safety net without going through a lot. But one might wonder what makes becoming your own banker an option worth following? In this post, we will take you through some of the most notable benefits of becoming your own banker.
Create Your Own Safety Net
This is by far one of the biggest benefits that is set to come your way after prioritizing infinite banking. Keep in mind we all desire to store our money in the safest place possible. No wonder it is not surprising to come across individuals who invest in the stock market, real estate, or even valuable commodities such as gold.
Unfortunately, this investment options do not guarantee a steady cash flow explaining why we have money in banks in the first place. By becoming your own banker, your savings grow through dividends and are untaxed. Better, you are free to withdraw these savings at any time of the day you find appropriate.
Financing and Loans
Without managing your finances wisely, then you risk going through a hard time financially in the future. That’s why you ought to set aside some money for your goals, savings, emergency situations, and your purchases. Becoming your own banker is the perfect chance to stay within your goals without compromising on anything.
Some might wonder how this is even possible in the first place. Considering you are your own banker, you have the freedom to decide on whom the loan can go out to or even take out money for a given expense. You’ll then pay yourself back while also earning interest on it. This is just what you need to achieve the financial freedom you desperately.
It is without a doubt that becoming your own banker has more to offer than some people tend to think. If you’re yet to leverage it, then there is no better time to do so than now.
Olivia Wilson has helped several global brands, which get heard across the digital space, through result driven content & social media marketing efforts. Studying blockchains and cryptocurrencies makes her hopeful of a free and decentralized future.