Monday, November 23, 2015

Start Your Own Bank----Your Own Bank Can Pay You 100% Interest.

      I received a letter from one of the local Banks that I could receive 1.15% on a savings account that I would open with them. This Bank was bragging that their interest rates were way higher then all the other Banks. This is not true because if you started your own Bank, your Interest on your savings account could be higher then 100%. This may sound like a bunch of Boloney to you but the Idea of starting your own Banking Business is so simple that you will say: " Now why didn't I think of this Idea ". If you remember back several years ago, you could open up a CD with a Bank that would pay 3.5% on 1 or 2 thousand dollars for one year but you could not touch that money during that whole time. A CD for two years would pay 4.0% Interest. For 5 years the Interest Rate would be 4.5%. If you opened a CD with 5 thousand dollars for 5 years the Interest Rate would be 5.5% and a CD for 10 years would pay 7.5%. Back in those days many of us took an advantage of the CD's because they paid a much higher Interest Rate. But in today's world the Banks will pay you very little in the way of Interest on your Savings Account. But we are soon going to change these methods by starting our own Bank and make a way higher Interest Rate than what other Banks pay.
      This is how you will start your own Bank. Open up a Savings Account in any Bank, but if one of those Banks will pay a higher Interest Rate on your account then go for it. Each time you get a pay check take 10% of each total pay check, and put this into your savings account. Now remember that at the end of the year your company will give you a W-2 form so that you can pay your Income Tax. Therefore any money that is coming from your pay check and going into a Savings Account it does not have to be Taxed Twice. You only pay Tax on the Interest that the Bank has paid you.
      When you have added 12 hundred dollars to your Savings Account, borrow 1000.00 dollars from your own Bank that you have started. This is a Loan that has been taken from your own Bank. You could spend it on anything you needed or if you are Wise you will take that money and open up another Savings Account in another Bank. Now because it is your own Bank you can make your own rules on how to pay your money back. The rule that I make and the Math is very easy to figure out I will take 10% of my pay check and if the amount is give or take 200.00 dollars then my payment on the Loan is 100.00 dollars and I will match it with 100.00 dollars. If my next pay check shows that I could pay 300.00 dollars on my Loan, then I will pay 150.00 dollars and match it with 150.00 dollars. Each time you make a payment you simply subtract it from the balance. For an example, you started off with a Loan for 1000.00 dollars. Your 1st payment was 100.00 dollars. Now your balance is 900.00 dollars. Your 2nd payment was 150.00 dollars. This now brings your balance to 750.00 dollars that is left to pay on your Loan. When your Loan gets paid off and your balance is now at zero, not only will your Loan be paid off but there will be an additional 1000.00 dollars in your Savings Account because you paid 100% Interest on your own Loan. All of the 100% Interest went into your pocket. The Bank did not get any of it. Now you have 2200.00 dollars in your savings and you did not have to pay any Interest to the Bank on the Loan that you took out. Even though your own Bank collected that 100% Interest you will not have to pay tax on any of it because it all came from your pay check which will all be Taxed at the end of the year.
      So what is the next step being that we now have 2200.00 dollars in one savings account and also we have 1000.00 dollars in a second Savings Account?  Pull out the 2000.00 that is in the 1st Savings Account and put it into your 2nd Savings Account. You now have 3000.00 dollars in that account and you have taken out a 2nd Loan from your own bank. Now you will make the same kind of payments like you did on the 1st Loan paying back to your own Bank the 100% Interest. The regular Bank will get none of this Interest. When the Loan gets paid up you will have over 4200.00 dollars in your Savings Account. In just a few years the money in your Savings Program will be a lot if you continue to take Loans out of your own Bank and then paying it back with your own set of rules into paying off all the Loans. When you have saved up 10,000.00 dollars of more you could take that out as a Loan from your own Bank and invest it into an Investment Company like Edward Jones or you could buy a new car or go on a vacation to another county. You also have a 4th choice. You could pull out of the 1st Savings Account 4000.00 dollars and put that into the 2nd Savings Account. Now you will have 7000.00 dollars in your 2nd account. When you get your Loan all paid up you will have an additional 8000.00 dollars in your 1st account and there still is time to let that account grow some more.
      So don't wait until another day, start your own Bank now and watch that money grow real fast. Why settle for a Savings Account that only pays 1.15%  when your own Bank will pay you 100%  on your next Savings Account. Do not put this off. Start Today!!

      Would you like to save 100.00 dollars or more from every pay check and it can go into a Savings Program. Punch in on Google Search: " Uncle Bob's Home Remedies-How to get more money out of your pay check " .

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