Guarantee Your Money – Become Your Own Bank

It might be worth visiting the web site Guarantee Your Money and its sister site Guarantee My Money because that is what they claim to do. These are not webs sites which are sales pages doing a hard sell. So take a look.

Glen Duggins is the CEO of the Prentiss Group. His company has a program they call U. R. The Bank and also uses a proprietary system they call GRIP.

U. R. The Bank

Simply put they take your money and set you up as your own bank. They then lend your money out at an interest rate normally much greater than what you can get yourself at a bank. That interest is paid to you as income less their expenses I believe.

They really do what the banks do but do it with your money, so you are the bank. It sounds to me like a good way to make money and stay in control of your nest egg.

From what I can see you are in control of your money.

Prentiss have been in business since 1983 and have a successful track record.

What is GRIP?

GRIP stands for Guaranteed Retirement Income Plan and is a proprietary system Prentiss use to ensure seniors and I assume Baby Boomers do not run out of money in retirement. They list several benefits when you participate in their GRIP Program on their web site.

They make a big point of stating your nest egg will be shielded from losses, you won’t have to recover any losses after a down market and you will have predictable income in retirement no matter what.

It may sound too good to be true, but don’t dismiss it out of hand until you check it out yourself. I believe there is value in checking out a company that has been doing this successfully since 1983. Plus Prentiss talk about rule #1 avoid large losses in retirement.

One thing I am concerned about and would need to be thoroughly checked out is the GRIP system uses equity indexed annuity programs. There is a lot of bad press about equity indexed annuities. So if you are interested in the GRIP program make sure you understand fully the implications and the downside to these annuities and how Prentiss uses them and protect your nest egg at the same time.

Also check out their fees and weight them up against the GRIP benefits.

There are several videos on both sites that cover such subjects as:

This is just another option you might want to consider. To a degree the more options you have the better choices you can make about what will work for you.

Wealth Managers only offer Mutual Funds in Equities, Property, Fixed Interest and Cash for which they can charge high on-going fees. Being aware of and evaluating alternatives may provide you with a retirement income solution that is good for you rather than good for your financial planner.

Remember to go where the retirement solutions are that you want, not the financial planner down the road because they are close. These days you can get to most places in a day, so visiting your financial planner on the other side of the USA can be a nice break once or twice a year. If they offer you a retirement solution that works for you, then do it.

2 Responses to “Guarantee Your Money – Become Your Own Bank”

  1. Protecting and growing your nest egg should be everyone’s focus in this market. Making sure you’re invested correctly will have a huge impact on the quality of life you will enjoy during retirement.

  2. Cathy Warren says:

    Sounds interesting. I will have to explore this further. Thank you for the information.

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