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Ep 109: Creating Your Own Private Bank, Vance Lowe and Seth Hicks, Private Banking Strategies
Manage episode 404334259 series 3555728
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In this episode of The Millionaire Choice Podcast, host Tony Bradshaw welcomes Vance Lowe and Seth Hicks, two experts in private banking strategies. They discuss the benefits of becoming your own banker and how private banking strategies can help people achieve financial freedom.
Discussion Points:
- What is Private Banking?
- Lowe and Hicks explain that private banking is a concept that allows individuals to take control of their own banking needs by setting up their own banking system.
- Private banking strategies are a way to manage your money through a whole life insurance policy.
- How does Private Banking work?
- Hicks explains how people can use their whole life insurance policy as collateral to take out loans from the policy, which can be used for anything from a car loan to a mortgage.
- Lowe adds that the interest on the loan goes back to the policy, not to a bank, which means that individuals can keep the interest they would have paid to a bank.
- Benefits of Private Banking
- Bradshaw asks about the benefits of private banking, and Lowe and Hicks explain that it allows individuals to have more control over their money and investments.
- They also discuss how private banking can help people build wealth over time, as the money in the policy grows tax-free and can be passed on to future generations.
- How to Get Started with Private Banking
- Hicks and Lowe explain that it's important to work with a qualified financial professional who understands private banking strategies.
- They also emphasize the importance of doing your research and understanding the fees and costs associated with setting up a private banking system.
Wrap Up:
Vance Lowe and Seth Hicks of Private Banking Strategies provide valuable insights into the benefits of becoming your own banker through private banking strategies. They emphasize the importance of working with a qualified financial professional and doing your research before getting started. By taking control of your own banking needs, individuals can achieve financial freedom and build wealth over time.
To connect with Vance Lowe and Seth Hicks or learn more about Private Banking visit https://privatebankingstrategies.com/
See omnystudio.com/listener for privacy information.
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