DOWAGIAC — Drawing a bright red circle on a board behind him, Dowagiac Rotary Club guest Thomas Neeser said that Rotarians could take control of their finances.

Rotarian Matthew Cripe invited Neeser, of Neeser Insurance and Financial Solutions, to present to the Dowagiac Rotary Club Thursday during the club’s regularly scheduled meeting. Both Neeser and Cripe spoke to the club about financial literacy and how to create what they called “generational wealth,” which is wealth that grows through each generation.

“For generational wealth, we need to set up the proper foundation to make sure that happens,” Neeser said. “This is about learning a different way to use your money.”

Neeser adheres to the infinite banking concept, which was created by Nelson Nash and promoted through Nash’s book “Becoming Your Own Banker.” The infinite banking concept relies on the idea that individuals can become their own bankers through the use of a dividend-paying whole life insurance policy.

“The concept of infinite banking is this: it allows you to recapture the interest you are playing to banks and financial institutions and redirects it back to a system that you control,” Neeser said. “The tool that we use for this strategy is specifically-designed, whole-cash-value life insurance policies.”

Additionally, in his presentation, Neeser advised Rotarians that if each generation of a family used the infinite banking concept, the money generated through it would grow and could be passed down through a family.

Neeser said he is passionate about financial literacy and planning. He said he was happy to be asked by Cripe to speak to the Rotary Club because he believes it is important for people of any age to take a look at the way they are planning their finances.

“Some of these things you may not be personally able to utilize, but you can set up a plan for your children and your grandchildren,” Neeser said. “It’s important to get that process started.”

“I think life should be a lot easier than it is, and we only have one lifetime to build up what we want to build up,” Cripe added about why he believes that Rotarians needed to hear Neeser’s presentation. “If we all thought more about our financial situation, we wouldn’t be struggling as much.”

Cripe has been working with Neeser and using the infinite banking concept for over a decade, which is why he said he asked Neeser to speak to the Rotary Club about the system. Cripe said that the idea had not benefited him personally — but that is not why he subscribes to the system. Instead, he said he believes that the concept will help his children and grandchildren down the road.

“It’s not supposed to work for me in 10 years,” Cripe said. “It’s like planting a tree. You won’t see the benefits next week.”