It's Not A Get Rich Quick Scheme

by Teresa Kuhn, JD, RFC, CSA
Authorized Bank on Yourself (R) Advisor
President, Living Wealthy Financial Group

More than a few times I have been asked if Bank on Yourself , the personal financial system designed by best-selling author Pamela Yellen, is another "get rich quick" scheme.

I almost laugh when I get that question because not only is Bank On Yourself (aka BOY) not designed to make you rich... it is also not quick.

There is an educational process that takes place whenever a person decides to become his or her own finance company and a certain amount of discipline and patience are required.

There is also, perhaps even more importantly, a change of mindset that has to occur in order for this approach to work.  After all, the logic behind Bank on Yourself  runs contrary to everything most of us have been conditioned to believe about how money really works.

Someone who chooses this method of getting solid returns that will never go down does so with the understanding that he or she is in it for the long haul.

Why Become Your Own Source Of Financing?

For too many years, I was a big believer in traditional financial wisdom.  You know... the "buy term and invest the difference" and  "no pain, no gain approach."   Not only had I heard this advice from friends, relatives, colleagues, and financial gurus, but I was taught the same things in college.

I learned, for example, that taking on risk in order to grow your wealth was absolutely necessary, that only the stock market could provide solid returns, and that taking a slow and steady approach to financial security was something little old ladies did.

It took me a long time and a lot of research to discover that much of what you and I have been taught about money is just plain BALONEY!  Wall Street marketing is some of the best around and the picture they constantly paint of the sexy, exciting world of the stock market is extremely alluring.   It is hard to step back from it and re-educate oneself on the truth about money.

Even someone like me, who has finance and law degrees, finds it difficult to resist the temptations of playing on "The Street."  It wasn't until after I found out the games the stock market and the government were playing with my hard-earned cash, that I began to search for alternatives for myself.  What I found shocked and saddened me: Wall Street and banks were playing everyday Americans for fools, charging them outrageous interest rates and fees, and laughing behind their backs.

When I finally accepted that I had been wrong about money... wrong about how the stock market really works, and wrong about the correct foundation upon which to build a secure financial future, I decided to make it my life's work to educate others about how money really works.

If you or someone you love is searching for answers in an increasingly unstable and volatile economic climate, then please direct them to this blog.

I intend it as a resource for anyone who has ever thought "there must be a better way" when they looked at their decimated 401 K statement...or added up all the interest they were paying to banks... and nearly had a coronary.

I will be adding as many articles, supporting documents, videos, and audio interviews as I can find in order to help you discover your own path to financial security and freedom.