The financial advice of our generation has always been “diversify,”
“It makes no sense to me why everyone searches for different investments, but forget about the investment they are to someone else. Most people will have all the investments they will ever need by employing the principles of banking into their current every day financial life,” says Jake.
Becoming your own banker is no new strategy; it has been used by banks, corporations, and the wealthy for over 200 years. Mitt Romney borrowing from himself for his campaign is a simple example.
“I recommend to clients to get into a situation where they can control their money, get it out of the tax loop, and sleep at night,” says Thompson, “losing money is just too painful, and unnecessary.”
Traditional forms of financial planning could have decades of consequences, as history proves. In 1929 the DOW hit a high of 360 before bottoming out near 140. The unfortunate part is the 25 years it took to hit those highs again. History repeating itself could be detrimental to those who planned on retiring in the near future, “It’s time to start rethinking your retirement,”
Mr. Thompson is an essential part of Eagle Capital Management, a 20 year old company owned by his Father Dan, a 23 year financial services veteran. He has learned the smart way, not the hard way, learning correct principles at a young age.
“My view is that wealth is not a product, but a process. When my clients understand how banking works the light goes on, they have been unnecessarily taking risks, and losing money, in hopes of creating wealth. The association of high risk and high return is one of the largest misconceptions about money I know of.”
Jake and his father Dan hold frequent seminars and work individually with clients nationwide.
