Jayson Lowe explains how a family bank works: members channel all their income through structured policies so money stays within the family instead of going to commercial banks. This keeps funds safe and available for investing and financing needs across generations.
If a family member wants to do their banking at home, borrow from the family bank instead of a commercial bank, do you require them to also learn to flow all their income through policies? That's an eventuality, yes. And we've been discussing that with the kids for as long as they could conceptualize what we've been doing. We've been preparing them for that bigger future because remember one of the fundamental truths: your money must reside somewhere. What better place to have it reside than here? And it's not to say that you should only store money here and not do anything else. From this very place, you get to do those other things like investing or financing, whatever it is that you need throughout the course of your lifetime.
