Jayson Lowe (creator/speaker) presents a YouTube talk promoting a "family banking" approach (infinite banking concept) that keeps money circulating within extended-family financial arrangements. He describes holding life-insurance policies for relatives, hosting annual family-banking meetings and weekly family dinners (hosted since 2008), and teaching children to save and borrow from a family bank. Lowe interviews his 13-year-old nephew Evan, who explains his plan to take a $400 policy loan to buy a monitor, earning about $70/month (keeping 25%, contributing ~75% to the family bank), repaying over about nine months with 10% interest ($40). Lowe also mentions a course planned for 2022 and noted 132 people attending the live session.
Questions this video answers
2008
13 years old
$400
Earns $70/month; keeps 25% (~$17.50) and gives 75% (close to $50) to the family bank.
Close to nine months
Chapters
The wealthy don't talk that way. The wealthy circle the wagons and talk about keeping the money in the family. We don't want the money flowing away. We want the money to be kept in the family.
How we teach our kids, our grandkids and our great grandkids and our nieces and nephews, etc. We've all been taught throughout our lives to be divisive, and we just may not even be aware of it. So you may recall hearing throughout your lifetime, when you grow older, you're going to move out and start your own family. You're going to have your own bills, your own mortgage, your own loans, and then you'll really understand what it's all about. The wealthy don't talk that way. The wealthy circle the wagons and talk about keeping the money in the family. We don't want the money flowing away. We want the money to be kept in the family. And there's absolutely no downside to that. The more money that you have available to the family, the more the family can take care of the things that are needed throughout life. And the money is going to go in one direction either way. It's either going to flow away or it's going to stay and flow back within the family. What's really interesting is that as you begin to embrace this process in your life, you're going to be thinking about your family.
How can I engage my family? How can I get my family involved in this process? And we have created this method of family banking, and we're going to be putting a course together in 2022. It's going to be available for all of you, for anyone who is interested. And it's going to walk you through how we go about educating our family about this process. This is our last family reunion. Now, Uncle Buck here, he's not invited anymore because you can see what happened about 25 minutes into the. Into the family reunion. So he's not. He won't be at future ones. But this is our annual family banking meeting. And everyone that you see in this picture here, we were talking about how the family's using the system. My son had been recognized in that meeting for just having recently repaid a policy loan. Now, in this particular photograph, he was 11 and he had already finished repaying his first policy loan. Now, kids have a much higher degree of neuroplasticity than. Than adults do. That's why it's so advantageous for children to learn a new language at such an early age. And we are teaching our kids. My nieces nephews, et cetera. We're teaching our kids about how to keep the money in the family and how to embrace this process. And so what I want to do, I want to bring in a very special guest, my nephew, Evan. I've had policies in place on Evan where he is the life that is insured, and I am the policy owner. Evan's mom has policies in place on him as well, and he's part of the family banking system. All right, here we go. Everybody say hi to Evan. Go ahead and type in the chat window. Say, welcome, Evan. This is a 13 year old who knows all about becoming your own banker. The infinite banking concept. Evan, wave to the all the hundreds of people that are here with us today. You're getting lots of welcomes in the chat. It's just awesome to have you, Evan. And now, one of the reasons why I invited Evan to be here is I want you to know that after our most recent family banking meeting that we had just a few short weeks ago.
The week following that, because we have family dinner every Sunday in our home. We've been hosting that since 2008, as a matter of fact. And Evan can eat a steak like no other. Like this. This kid just loves steak. And so he comes over for family dinner and says that he has something to talk to me about. So, Evan, what was it that you wanted to talk to me about? Can you share that with everybody?
I wanted to take out a loan to buy a monitor that I was trying to buy.
And how much is the monitor?
$400.
Okay. And now you work really hard to earn your money and you deliver papers and flyers in our neighborhood, and that presents, you know, a decent income for somebody who's 13 years young. And in that family banking meeting, what did we talk about in the way of how much you spend and how much you set aside?
Well, I make $70 every month, so I can keep 25% of that. And then I give 75% to the family bank, which is close to $50 every month, back into the family bank.
Isn't that amazing? Everybody 13, this is the language that he's using now. Evan, please just reaffirm with everybody that we're here with today, I did not prepare you for this talk. I didn't tell you what I was going to talk to you about or ask you about. And so here's what's amazing. When he asked me that, one of the questions that I had for you, Evan, you'll recall, is why do you want to keep the money in the Family? Why is that important to you? Can you share that with the attendees here today?
So then I'm not giving all of my money to just a random company. Instead, it can go back into the family. So we can afford other things if we want instead of it going to someone else.
There you have it. And we talked about the loan agreement. So we talked about the terms of the loan. And would you mind sharing what that's going to look like for you? So how many months is it going to take you to repay the loan?
Close to nine months.
Okay. And when you repay the loan, you're going to pay back what you borrowed.
Plus what, 10% interest. So $40.
And once you're done repaying the loan, do you get to re access everything that you repaid?
Yeah.
And if you can do that for a monitor, is there anything you can't do it for?
No.
And so how often are you going to use the family banking system?
Every time.
And are you ever going to miss a payment?
No.
So you're never going to steal the P's, right?
No.
Why? What happens if you do that?
You can't use the family bank anymore.
And any more means how long?
Forever.
And so you understand the importance of making sure that you run your system properly and that you don't steal the piece.
Yeah.
Okay. Excellent. Evan, I'm so proud of you. It's not easy to pop onto a zoom meeting or get on a stage, which you're going to do in the future in front of, you know, so many people. We have 132 people in attendance who are watching and listening to every word that you're saying. And I just want you to know, as your uncle, that I'm so incredibly proud of you for attending family dinner after having thought about the family banking meeting and you had communicated, you know, I really thought a lot about what was shared in that meeting. And I want to access a policy loan. And here are the reasons why we actually spoke through it together. And so this is just the beginning of your journey. And what I was sharing with everybody earlier, Evan, as I was talking about, it's not only important to transfer wealth in the way of money to the next generation. It's also important to transfer knowledge so that people understand in our family the reason why we're doing this.
Make sense?
Yeah.
Is there anything you'd like to say to the attendees before we give you the rest of your day back? I know you got soccer, you got hockey, you got all kinds of stuff going on today. So is there anything you want to share before you head out?
Just keep the money in the family.
All right? There you have it. Thanks, Evan. I love you, buddy. Have a great rest of your day. Okay? We'll see you later on.
Bye. Bye.
Okay, see ya. That was my nephew. Special guest. I just reached out to him last night and asked him if he'd be okay hopping on today. And so I appreciate him being here. It just fills my heart with joy. And you can do this, too. You can do this, too, with your family and have that same impact. And you'll recognize. He's 13. All he knows is that everything I put in, I get to re access, and I get to do that over and over and over again. He's not talking about.
Internal rates of return and show me the return and what's the interest rate? And he never asked any of that. He said, I just want to keep the money in the family. He gets it. And so you can do this too, with your family.
