The legacy which Walt Disney left behind has left its mark on the entire world in one way or another. But is was quite the task getting the financing he required to make his dream come true. Not everyone shared Disney’s convictions that his amusement park would be a success. Banks were not willing to take a chance on an idea that was so bold.
In the end, Walt Disney became his own banker and used his whole life policy to fund his businesses when no banker would lend him a dime.
This is further proof that Becoming Your Own Banker/Bank On Yourself is not a new concept but rather an old and reliable one that allows you to grow your wealth and invest in other opportunities at the same time. It wasn’t only Walt Disney. Many famous people in the earlier parts of the 20th century used whole life policies to fund their businesses. It’s only lately that people are starting to come back to this strategy.
Walt Disney came up with the concept of Disneyland after visiting various amusement parks with his daughters in the 1930s and 1940s. He envisioned building a tourist attraction adjacent to his studios on Burbank, California to entertain fans who wished to visit.
“It takes a lot of money to make these dreams come true. From the very start it was a problem. Getting the money to open Disneyland. About $17 million it took. And we had everything mortgaged, including my personal insurance…”
– Walt Disney