“Only money left over after paying taxes can be spent. For the average person in the U.S., 34.5% of that sum goes to pay interest alone, to finance car purchases, homes, and various other purchases. This money is gone forever. It is making persons in the banking business wealthy. It can be yours to enrich your life forever–if you get into the banking business.”-Nelson Nash, creator of the “Infinite Banking” concept.What if you could take out a loan to buy a car, motor home, vacation, or to pay for a child’s college tuition without having to meet a lender’s stringent qualifications?What if you were able to achieve steady growth without risking your money on Wall Street?Would your life be less stressful and ultimately more prosperous if you could bypass banks and finance companies and retain control and liquidity of your own money?If you’re like most people, you probably think you have little to no choice when it comes to managing your wealth. You’ve likely grown up thinking that cash management, savings, and loans must always be done through banks or credit unions.You may balk at the high fees and hoops through which you must jump every time you need access to your cash or require a business or personal loan, it could be that you aren’t aware of other options. The good news is that recent bank scandals, consumer scams, and Wall Street malfeasance have prompted many retirees and pre-retirees to search for safer alternatives to traditional banking and investing.One safe money management method has made a dramatic comeback in the last twenty years. It is the use of specially designed whole life policies that are modified to create steady growth and mitigate exposure to risk while providing exceptional tax advantages.With the advent of more “exotic” retirement programs such as 401 (k) plans and Individual Retirement Accounts (IRA’s), whole life insurance as a saving and retirement tool fell somewhat out of favor with the American public.However, during the financial meltdown of 2008, many people were faced with some harsh realities about the banking industry and Wall Street. They began to see whole life insurance in a different light, especially with the success of books such as “Bank on Yourself” and “Infinite Banking.”While the concept of using modified whole life insurance to create a personally managed pool of wealth has been around for well over 200 years, improvements to insurance products have produced more balanced, solid, and risk-resistant policies.Modern whole life policies provide much better growth and liquidity than in the past and far exceed traditional savings and investment accounts in many areas.For example, correctly structured whole life policies allow you to give yourself loans quickly without the need to “qualify” or put your home up as collateral. Best of all, your money will continue to grow as if you had never removed a penny!Becoming one’s own bank is not for everyone. It isn’t financial alchemy or a shortcut to becoming wealthy. It is comparable to managing a small business in that you will need a certain amount of discipline and dedication. You will also need to capitalize your policy, then strategically borrow from it and repay the loan on your terms.You also need an agent or advisor who is well-versed in the many nuances of this kind of policy. He or she must have the competence and skill to actively manage your policy (or policies) to ensure maximum growth and adherence to tax law.Whether or not you decide to try this method of cash management, it pays to discover more about how it works and if it would help you meet your own financial goals.