Business Testimonial for the “770 Account”/Infinite Banking


JLM Wealth Strategies Testimonial


It’s quite amazing how our financial lives can change so quickly. After recently receiving a significant promotion and closing more new contracts in one month than my entire career, I was suddenly let go from my consulting job on a Friday afternoon in February. California is an ‘at-will’ employment state and anyone could have a day that ended like mine.

As I paused to assess the situation, I checked my cash flow, liquidity of investments, and nice-to-have expenses. First stop, where is my money and how quick can I access it? I was mid-way through a bathroom remodel, planning my wedding, and now my paycheck had stopped.


401K Hijacking


I had opted not to contribute to the company 401k, learning from previous corporate downsizing experience in 2006, when I had needed to access my reserves.  I learned the hard way that a 401k was not liquid when I needed it to be and it came with additional penalties for accessing it. By the time I got access to my own money, I had far less than I had contributed to begin with.

Government wins this one.


ESOP to IRA Barricade


Fast forward to the 2014 where my new former employer had provided a vested ESOP (employee stock option plan). But looking at these reserves, I was not allowed to touch it for two years following the end of our relationship. Even after two years, I can only roll it to an IRA and all the penalties that come with accessing an IRA early.

Employer and the government win this one.


Infinite Banking/770 Account Life Line


Just two years ago I met with John Montoya at JLM Wealth Strategies where I opened a 770 account to build my own banking system using the Infinite Banking Concept (IBC). I continued to fully fund this financial vehicle over the course of two years with a vision for funding retirement on my own terms.

Coincidentally, I had just hit my two-year anniversary the same week as my last day on the job. There I was holding in my hand my annual statement with dividend contributions, cash balance, and life insurance coverage. I realized quickly that I could take a policy loan, no questions asked, and take a breath to decide what the next best step for me would be without shutting down my lifestyle.

This liquidity, access to cash, allowed me to manage my fears, concerns, what-ifs, and give me the space to see all the possibilities in front of me, not just the unemployment line.

I win!


Infinite Banking/770 Account Power


With my IBC/770 Account plan, I had access to my money without penalties or taxes, stacks of paperwork, or an interrogation from a bank wanting to know every detail of my financial life. I discovered the proverbial pot of gold that I had created for myself with rules or restrictions limiting access to my own money. What a novel thought! So it got me thinking further: “What if I build my own business?”

No traditional bank in their right mind would give me a business loan while unemployed, but by “banking on myself”, I had immediate access to my capital to take time off, enjoy a long holiday, or best of all, the opportunity to build my own consulting practice.

At this moment, I realized the choice I had made two years ago to start my own privatized banking system had been the best financial decision I could have ever made.

No more reliance on banks, Wall Street, or government qualified plans to secure my future. The IBC/770 Plan provided me the opportunity to make decisions that put me in the driver’s seat.

I win!

By funding my IBC/770 contracts, I have funded my future. My bathroom remodel is on track. My wedding plans are in full force. My consulting business has a pipeline of $3M year-to-date. No fees, penalties, annoying bank questions or the dreaded unemployment line.  And the best part is that my money is continuing to grow even while I borrow against it for my business and other purposes.

I am now part of the success stories I had heard previously about JCPenny and Walt Disney utilizing their Whole Life contracts to successfully start or maintain their businesses when times got tough. This plan allowed me to take control of my financial future and I am hopeful my experience will resonate with others who are considering the Infinite Banking concept for themselves.

Thank you JLM Wealth Strategies for helping me design an Infinite Banking/770 Account plan that fit my budget and my vision of financial freedom. You’ve made sure my rainy day included a rainbow.


Kelly J. Vail
OTS Practices Management
Organizational Transformation Solutions, LLC

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