Jayson Lowe lends money to his niece, nephew, and kids from his life insurance policy, with an attorney drawing up formal repayment schedules. He treats it like a real bank to teach them how financing works, so they learn the rules before they encounter actual credit cards and loans.
So when your niece and nephew want to borrow from the policy, they come to you and you set the terms together. Yes, that's absolutely correct. So they sit right here in my office and they outline their request. And now the same for my own kids. And we discuss, you know, what a reasonable repayment schedule looks like because, you know, they're at a point now where they're working part-time and they're earning a little bit of extra cash. And we initiate, we move forward to the next step in the process. And then I don't have that conversation. The attorney has the discussion and the This is what they're learning. This is what they've grown up with. They've never seen anything different. Like my oldest, my firstborn son is 17, and I began this journey in this process before he was born. And so all 4 of my kids, this is all they know. They're not thinking about the external financing system that I reviewed tonight. They only know the internal, the family banking system. That's all that they know. They get to borrow from their own policy. Well, it's not them initiating that borrowing. I initiate it as the policy owner. It's absolutely a great way to teach because it's simulation. That's how all of you came up on the external financing system. You simulated, you went to a bank, you got a credit card, you borrowed money, you made payments back, all your income flows there. Even when you used to get manual checks, you drive to the bank and you deposit your check. So you were conditioned through simulation. It's the very same thing with my kids and with my family. Want to find out more about how you can become your own banker? Click the link below or head over to learnwithjay.com.
