Open Letter About the Family Banking Plan

I am Lawrence Law and a good friend of Cameron’s that has shared my experience with him concerning the Family Banking Plan.  I am the CEO of Vantage Credit Alliance a Credit Repair company using Attorneys because it works with Attorneys being involved. The reason I explain this is because I have been so successful with my experience with Family Banking that I now endorse it to all my clients who have been through my program.  I am not an agent, I only refer the program to others.

My experience begins as a young man believing in the traditional financial planning gurus who said to invest in 401k’s and IRA’s of which I did and got blasted in the stock market in the 80’s. I tried stocks but saw what that could do and invested in penny stocks and was successful until they dropped.  The loss was minimal but there were no gains after years of attempts.  Loss of time is also loss of opportunity.

I next invested in mutual funds and was in the rise of the 80’s and 90’s… but then came the losses because of downturns in the market.  Then I tried Silver and Gold, precious metals and lost my shirt because of the volatility of the markets.  I had leveraged over 10,000 ozs of silver to lose it all to the drop in price.

I then learned about Real Estate investing and paid thousands of dollars for training bought my first property… I fixed it up, rented it out and then the economy dropped again and my job was cut back… lost the house, ruined my credit and owed the difference in what I owed and what it was sold for at auction… I nice $50k debt for my experience.

This brought me to the conclusion that I did not want to deal with risk anymore… it was too risky.  But the thought of trying to build a retirement for myself with the paltry interest rates that were “safe” with the reality of inflation rates was disheartening.

All these investments are good for certain conditions and for certain people for certain goals. I am suggesting they are bad, just bad for me and my goals… which was to have a safe, steady growth, with liquidity, use, control, certainty and enjoyment. Risk Free and Tax Free.

I was then introduced to the Infinite Banking Concept by a friend of mine who suggested I look into what it could do for my wife and me. I married my wife after her first husband had died in a car crash and left her with a life insurance policy of $500k.  She was wise to invest it and had earn some serious income by putting it into safe, secure but guaranteed rates of return.

We went to an agent who promoted IBC or what we call the Family Banking Plan and decided to do it… it made sense, it was safe, stable, guaranteed rates of return, liquid, we can control and it was certain and usable for our situation. But, my wife wanted to use her financial planner because he had done such a good job with her investments, we decided to let him help us.. Bad Mistake… he didn’t know what Family Banking was and wasn’t interested in learning.. but he said he could make it happen his way… He set my wife up on a $1.9 million Universal Life policy that cost us dearly in fees but he assured us it would work if… we kept putting money into it and the stock market was going strong.  No guaranteed interest rate and the cost of insurance would keep going up.  This we learned later…

3 years later, after evaluating our finances, we discovered our error and the cost it was bleeding us and decided to end the policy.  I started to find out why it was a bad idea and meet Scott Johnson who patiently explained the difference in policies and why the other policy would not work for Family Banking. It is based upon the stock market, with risk, and the policy premium continues to rise each year.

The policy he suggested is a Mutual Whole Life Cash Value structured policy that requires the minimum Whole Life policy with a Paid Up Additions Rider that allows for hold large sums of cash for growth and security.  We transferred over the cash values from the other policy and are now recouping the assets lost from the other policy that worked but not to the efficiency or safety that this policy has done.

We have since learned that by using the cash values to buy the things we normally buy on credit, we can recapture the interest and principle and put it back in the bank.  We also pay back a much higher interest rate because it all goes to work for us in our Family Bank at the current rate of 5.25% and a dividend at the end of the year (dividend it not guaranteed but they have paid out every year for over 100 years since it began, even through the recessions and depression)  This compounds the growth by substantial factors and we have seen a marked increase in the cash values because of it.   The normal way to buy large items is to get a loan and pay the principle and interest to the bank or lender.  With the Family Banking Plan, you have the cash value in the Family Bank, to buy the item with cash, then make payments back to the Family Bank with a high interest to recover the cash value so it can be used again and again, increasing each time.  You would normally pay the lender anyway… so you are making the same kind of payments to your Family Bank just the same as you would a typical bank.

The other aspect I love about the Family Banking Plan is the Legacy Factor.  By teaching a family to understand money, credit and financing, you will teach the high cost of banking the traditional way and instead create a Family Bank that everyone has access to for purchasing with absolute rules of repayment with interest back into the Family Bank so it will never run out of funds and instead create a legacy for children and grandchildren.

This is what they do… teach the correct principles of Family Banking… show how to implement and then help to grow the Family Bank into a Legacy…

I would enjoy visiting with you to answer questions and explain what we are doing to have such growth and strength in our Family Bank. We are including our children but they cannot use the funds themselves until they show a measure of self control and commitment to repayment.  The funds must never be depleted or the Legacy is gone and the growth potential and opportunities are gone.  We are now planning and growing the needed funds for every family member to meet in Hawaii for our Annual Lawrence M Law Family Financial Trust Meeting.  Paid by each family but sustained by the Family Bank and showing growth and where the assets are, how they are being paid pack and plans for further growth in the future.  It’s a perfect partnership and I have finally found what actually works without risk and tax free… It’s pretty amazing…

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