Common Sense Strategies for
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One of the most popular financial planning strategies we are teaching people right now is how to be your own bank and grow your wealth tax free. The question has come up where do banks invest their money? Actually, the same place we suggest you use to start your own bank – tax free permanent life insurance contracts. The average financial planner in Phoenix will tell you life insurance is a bad investment. You might be surprised to know that banks invest the largest percentage of their vital cash reserves in life insurance contracts. So we put money in banks, they put their money in life insurance contracts. I recently created a detailed web page showing why you should skip the middleman (aka the banks). This page also shows a breakdown of the BILLIONS of dollars the largest banks in the U.S. put into permanent life insurance contracts. Some banks have as much as 40% of their vital reserves in these contracts. Bank of America has nearly $19 Billion invested in them. So it is good for them but not good for you? Hmmmmm…..

Webpage: Where do banks invest their money?