Family Banking-The Basics of the Process of Banking
There are three parts to a Family Bank, many different names are used to describe Banking and a few are listed below…
1. Creation of Wealth –
your paycheck, your wages, your investment/savings returns
2. Storage of Wealth-
your saving account, your checking account, government sponsored programs(IRAs, Social Security, College Savings Plans, etc.), Whole Life Insurance, Mutual Finds, Bonds, Money Market Funds, etc.
3. Utilization of Wealth – buying food, buying personal effects, rent payments, mortgage payments, car payments, credit card payments, health insurance payments, etc.
The common understanding of the roles that the companies have with is can be found in the contracts we sign with them when we use their products and/or services.
We will talk more about how all of this works in Future Google Hangouts….
so join us
▶ Video Source: http://youtu.be/iQTlOpwYrMU
▶ Blog Source http://ilovefamilybanking.com/367/i-love-family-banking-the-basics/
Robert Zuniga is NOT an accountant, a lawyer, a financial advisor, etc, etc, etc….
The goal here is to produce some informational videos for his teenage children…so that this is here for them to avoid the pain and frustration I had learning this the hard way….
Robert Zuniga is a Life Insurance Agent and an Authorized Infinite Banking Practitioner. He uses only one product…a dividend paying whole life insurance policy and sets up family (and business) banking systems based on having total financial control over each part of banking.
Robert Zuniga 919-234-7599
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