The Real Story of How I Paid Off Cars, Crushed My Mortgage, and Became My Own Bank
Let me start with this:
Iām just a regular guy ā young family, six-figure household, new house, and a couple of cars I was paying off like everyone else.
But four years ago, I made a decision that completely changed my life:
I stopped doing things the traditional wayā¦
And I became my own bank.
š° It Started with $3,500/Month and a $50K Lump Sum
When I opened my Infinite Banking policy, I structured it at $3,500/month with a 30/70 split (30% base premium, 70% cash value).
I also dropped in $50,000 cash up front ā not because I was ballinā out, but because I was about to pay off my cars and didnāt want to wipe out my savings.
If I had paid them off in cash, I wouldāve been back to zero.
So instead, I put the money into my policy, let it start earning interest, then took a policy loan just 10 days after activating it to wipe out both cars.
They were financed at 12.25%, which meant I was giving the bank way more than I needed to. Now that interest was coming back to me.
š Paying Myself Instead of the Bank
From that point forward, the same monthly payments I was making to the bank got redirectedā¦
Right back to me.
The best part?
My policy kept growing at 5.74% compound interest while I borrowed from it.
Thatās what people donāt get ā your cash value keeps compounding even while youāre using it.
Itās not a savings account ā itās a wealth engine.
š” Mortgage Acceleration: 30 Years Down to 5
After I crushed the car loans, I focused on the mortgage.
I had a $451,000 loan at 5.25% over 30 years, which meant Iād pay the bank $445,000 in interest if I stayed the course.
But by year 8 of my policy, Iāll have enough cash value to pay it off in full.
At that point, Iāll have only paid about $113,000 in interest, which means Iām saving $332,000 ā money Iām now planning to recycle back through my policy instead of giving it to the bank.
Thatās not just savingā¦ thatās reclaiming your financial future.
š¤¦ What I Wish I Did Differently
At the time, this was only the third policy Iād ever sold.
I didnāt know nearly as much as I do now.
If I could go back, I wouldāve:
- Structured it to allow $50K/year in overfunding
- Maxed out paid-up additions annually
- Built in way more compounding firepower
Even so ā it worked. And Iāve been teaching clients how to do it right ever since.
š Now Iām Playing the Long Game
In just five years, I will have:
- Paid off two cars
- Paid off my house
- Saved $445K in interest
- And built a self-funded financial system that can buy property, upgrade my life, or fund future investments
With 100% equity in my home, I can:
- Sell and upgrade to a bigger house
- Or pull equity and start buying rental properties
- Repeat the process ā with the bank of me
š¬ Final Thought
The key isnāt how much money you make.
Itās how much you keep, how fast it grows, and who it benefits.
IBC has helped me keep more, grow more, and redirect what used to go to the bank right back into my familyās wealth plan.
If I can do itā¦ with a regular income, a mortgage, and two car loansā¦ you can too.
