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Bank on Yourself: The Life-Changing Secret to Growing and Protecting Your Financial Future

2.92  ·  Rating Details  ·  97 Ratings  ·  20 Reviews
Bank On Yourself: The Life-Changing Secret to Growing and Protecting Your Financial Future reveals the secrets to taking back control of your financial future that Wall Street, banks, and credit card companies don't want you to know. You'll discover how to:

· Have a rock-solid financial plan and a predictable retirement income that can last as long as you do – with no luck

...more
Hardcover, 256 pages
Published March 24th 2009 by Vanguard Press (first published March 14th 2009)
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Community Reviews

(showing 1-30 of 169)
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Rick
Apr 16, 2011 Rick rated it it was ok  ·  review of another edition
Shelves: finance
The book seems to have been written for an audience with a fifth grade education (from a less than stellar elementary school, no less). Generally it suggests opening a complicated whole-life life insurance policy that you can overfund and then use the overfunded amount to finance expensive purchases like cars and college tuition for your kids. It's not a bad concept and one that takes advantage of some interesting tax loopholes. Still, the book could have been 5 pages long and filled you in on e ...more
Amy
Sep 16, 2010 Amy rated it it was ok
As a book, I can't give this a good review because it drove me crazy reading it. I could have understood the concept in about half the amount of pages. That said, I like the idea and we are doing more research on this interesting way of dealing with your money.
Candy
Oct 06, 2015 Candy rated it it was ok
This book is a big advertisement. If you can get past that, it is a good introduction to a subject I had never heard of before. I am doing more research though.
Matthew Hines
Aug 21, 2014 Matthew Hines rated it it was amazing
I have read many financial planning books over the years, and this is one that surprised me with it's originality. Bank On Yourself shows you how to utilize a financial instrument - which is well known but little understood - as your own personal bank. Author Pamela Yellen tells several stories of some students who learned this program, and how it changed their lives.

You have to buy the book to read what financial instrument she is talking about. If I reveal it here, you might not read it since
...more
C.J.
Jul 25, 2011 C.J. rated it it was ok
While the idea that the author presents is an intriguing, much unknown alternative for most Americans, this book, I believe, is very poorly written. Not from the standpoint that it doesn't convey the idea well, but it does so in such a long, drawn out manner, in which the author feels as though it is necessary to show many other's personal successes with this strategy. Perhaps I am being too hard on the author, but I really could have read this book as a 20-page pamphlet and made up my own mind ...more
Mr. V
Feb 28, 2016 Mr. V rated it liked it
Very interesting. I was aware of a lot of the techniques she discussed and have used many of them. Had not thought about the paying bills idea with non-direct recognition life insurance. Very interesting. I can see how in theory could work but also how people could get themselves in trouble by not following through. Which people have a tendency to do when real life interferes.
Lam
Jun 04, 2016 Lam rated it did not like it
She spent half of the book hyping about the product, which was life insurance. It can seriously be condensed in twenty pages. She is advertising her product (life insurance) so please question the information as you read it. She spent too much time hyping the book to try to make readers curious, which was a time-waster.
Worse purchase.
Jesse
This is horrible advice. I read the book, and had one of the author's reps come to my house to talk me through it. For several hours. The numbers just don't compute. And I'm right in their target market. It still just doesn't work.
Lawrence M Law
Oct 29, 2013 Lawrence M Law rated it it was amazing
I have come to endorse the Family Banking Plan as described by Pamala Yellen. I recommend going here to learn more through short video's that explain how it works in detail. www.FamilyBankingWorks.com

Pam's book takes every day people and shows how Family Banking works for them to capture interest, insurance and taxes normally paid to others and instead pay it back to themselves.

Typical Financial Planning doesn't work as proved by tens of thousands of retirees having to go back to work or stay a
...more
Diane
Mar 08, 2014 Diane rated it did not like it
Skip it.
Tony Bradshaw
Jul 22, 2015 Tony Bradshaw rated it it was ok
Chapters and chapters to lead up and explain through characterization one simple principle:

Get dividend-paying whole life insurance that offers flexible paid-up additional riders allowing borrowing against your cash value.
Erin
Sep 26, 2014 Erin rated it did not like it
Shelves: reference-nonfic
This book sounded like an infomercial from one end to the other. The anecdotes and examples did not convince me to immediately rush out and talk to a financial advisor who specializes in this investment, but the concept is interesting. I just wish there had been more concrete data for analysis in the book. Terrible book structure, intriguing concept. Rather than read this book, I recommend just googling for "Infinite Banking".
Christine Lussier
Jul 18, 2011 Christine Lussier rated it did not like it  ·  review of another edition
Are you kidding me? Wall Street & Business Week bestsellers my foot! An infomercial in book form. Waste of publishing paper & time. Buy into a life ins. policy & use the $$? Umm, try good old fashioned no debt, save, spend & live below your means. Use a budget & plan. Will be returning to the library at my next stop! SO glad to not have spent a dime on it!
Michelle Price
May 18, 2013 Michelle Price rated it really liked it
Shelves: mindset
I thought it was really informational. Who knew you could fund your own car purchase, or home renovations just by purchasing a little known insurance rider. Of course there's more to it than that - however, more people, especially women need to read this book and put it into action.
Zacaro Caro
Dec 27, 2011 Zacaro Caro rated it it was ok  ·  review of another edition
Shelves: finance, advice
I like the information in this book, I think the story telling method used in this book isn't necessarily bad.

The problem is the way the information is delivered and how the stories are told. The information could be great, but it's done in such a way it makes the reader suspicious.
Susanna
Aug 20, 2010 Susanna rated it it was ok  ·  review of another edition
I distrust and remain skeptical about the idea of using one whole life insurance policy to fund all your major purchases in life. I personally prefer to have full control of my money at all times.

I do not find this financial-advise book interesting.
Ken
Aug 05, 2012 Ken rated it it was amazing  ·  review of another edition
This book does a good job scratching the surface of how money works in circulation and what everyone should become aware of when considering debt, banking and taxation in relation to themselves and their businesses.
John
May 08, 2009 John rated it did not like it
Shelves: 2009
Reviewed for Library Journal. Review appeared in May 1 issue.
Jessica Garlick
May 17, 2013 Jessica Garlick rated it it was ok
Educational, but about 150 pages too long.........
Jill
Jan 27, 2013 Jill rated it it was amazing
Nylic wl is the way to go
Eric Fitzgerald
Eric Fitzgerald marked it as to-read
Jul 22, 2016
Jordan
Jordan rated it it was ok
Jun 15, 2016
Rory Jacob
Rory Jacob rated it liked it
Jun 15, 2016
Jeffrey
Jeffrey rated it really liked it
Jun 09, 2016
Nikhil Mahadea
Nikhil Mahadea marked it as to-read
Jun 08, 2016
Emmanuel Supen
Emmanuel Supen marked it as to-read
May 19, 2016
Heath
Heath rated it it was ok
Jun 03, 2016
Natalie Wilson
Natalie Wilson marked it as to-read
Mar 28, 2016
Italianbella828
Italianbella828 marked it as to-read
Feb 10, 2016
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