You're paying 6-13% interest on loans while your savings earn 1-2%. Private Equity Banking lets you borrow against a qualified life insurance contract instead, keeping the interest payments for yourself and avoiding bank approvals.
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Whenever we borrow money to finance the purchase of a car or a boat, furniture or appliances, a new roof or home addition, a college education or postgraduate degree, we typically pay more interest to a credit union, bank, or finance company than we earn on our own savings and investments. For example, we might pay interest rates of 6 to 13% on a car loan or credit card, while we earn as little as 1% or 2% on a savings account and hope to average 7% or 8% on a 401(k) account. But now there's a way to become our own bankers and profit from our own borrowing. Because now we can set up our own bank and pay interest to ourselves on our own terms and without any application or loan approval process. It's called Private Equity Banking. And it's made possible by Internal Revenue Code Section 7702, which allows us to put money into what the IRS refers to as a qualified contract with a legal reserve insurance company. This provision of the tax code