The Money Advantage Podcast

Today, we’re talking with Mike Kitko; author, speaker, coach who helps you lead powerfully, love selflessly, profit shamelessly, and play recklessly. If you’re an elite business owner who wants to break through to success and live soul out… tune in now! https://www.youtube.com/watch?v=F9Bo-zzgpts Table of contentsWorking in Your Zone of GeniusBreakthrough to Success and HappinessMike's Personal Breakthrough to SuccessHow Do You Own Your Zone of Genius?Solving the Money MindsetThe Breakthrough to Success Begins with Real LeadershipMike Kitko’s Prosperity PrinciplesGet in Touch with Mike KitkoAbout Mike KitkoBook A Strategy Call Does success have to be hard? Mike Kitko argues that the breakthrough to success doesn’t have to be! You can make it simple, and today we’re talking about how to simplify your journey to success. It starts with letting go. [1:48] “For 43 years, I made everything in my life as hard as I possibly could because I was taught...that if it’s not hard, it’s not valuable. And if it’s easy, then you’re missing the point.” Working in Your Zone of Genius Your “zone of genius” as defined by Gay Hendricks, author of The Big Leap, is the space where you rely on your innate abilities. Many people call this “purpose,” and when you’re working within this zone, as Mike says, life is easy. This is where the magic happens, energy is limitless, and synchronicities occur. And yet, because we're conditioned to believe that success is hard, we distrust ourselves when we're in that zone. We are trained to think we have to work hard to be worthy. And it’s the exact opposite of what we should be striving for. Mike breaks down the steps for working in your zone of genius in this way: Find and understand your purpose Create a vision for your life that reflects what you want to experience Understand your desires and know that new ones will always surface Get into your flow in your zone of genius Act from within your zone of genius [5:50] “Life doesn’t have to be hard. I have too much fun having joy and success and happiness and wealth the easy way. My wife termed them grind gurus and hustle whores. Let all those guys teach everybody... I’m looking for the path of least resistance.” [13:40] “When you’re in your zone of genius, it’s like time stops and things happen for you and because of you.” Breakthrough to Success and Happiness [6:45] “I think the mind has a problem with happiness. The mind creates problems where they don’t exist... We don’t understand what’s happening [in our mind], and we don’t understand how to discipline this, and we don’t understand how to eat the fruit and spit out the seeds... We don’t understand that we can let the thoughts go—the ones that don’t serve, that create struggle, that create stress out of joy and happiness. When we can let them go, we don’t have to follow them into a problem-solving space. You don’t have to solve problems that don’t exist.” The average human has 6,200 thoughts per day, and we spend so much of our mental energy on our problems. What would happen if you identified the problems that don’t exist and let them go? When we allow our thoughts to have control and run rampant, we drain our mental energy. The breakthrough to success occurs when we can let go of thoughts that don't serve us, or take us down a rabbit hole of worry and doubt. Mike's Personal Breakthrough to Success In 2016, Mike Kitko was fired from his second executive level position in 20 months. And it was an easy climb to the top, even though he “made it hard” for himself. And he admits that he was fired because he himself was toxic at the time. [10:10] “The struggle that I felt inside, and the pain that I felt inside, I wanted everyone else to experience it too. We see in the world what we feel...We experience the world from our internal lens. When we expect life to be hard, or we expect life to be painful, then we see it everywhere and we create it where it doesn’t exist.” Despite the challenges of job loss, Mike recognized the call to do better. This was the catalyst for his personal breakthrough to success. It began with two things—the willingness to embrace uncertainty, and the desire to make things easy. [11:35] “If you trust yourself in the presence of uncertainty, entrepreneurialism is for you.” How Do You Own Your Zone of Genius? [15:41] “When I was in corporate, I felt like I had to do nine hundred and ninety-nine things so that I could get to do the one that I loved.... After I was unceremoniously uninvited from corporate, I said I'm never doing those nine hundred and ninety-nine things ever again.” The key is to find your one thing—the one that you’re willing to suffer for the opportunity to do—and then do it. Just drop the suffering from the equation. If you’re looking for more of a formula, find the intersection of these things: What are you great at? And what are you good at? What are you passionate about? What will people pay you for? When you can find some

Want to use your Infinite Banking policy, but wish you understand the nuts and bolts of how Infinite Banking interest rates work? Today, we’re answering a question from our wonderful community of listeners: https://www.youtube.com/watch?v=iFSgJlrjL4U For example, what’s the policy loan if I wanted to borrow 1K? Are there any interest rates?—Riley Nelson If you want to learn exactly how interest works on life insurance policy loans… tune in now! Table of contentsWhat is IBC?The Power of LeverageDo Life Insurance Companies Charge Interest on Policy Loans?Why Compounding Interest Matters Fixed vs. Variable InterestThe Nuances of Variable Interest RatesHow Companies Charge InterestBook A Strategy CallFAQsWhy do insurance companies charge interest on policy loans?Are policy loan rates high compared to banks?Can my loan interest rate change?Do I have to repay a policy loan?Does taking a loan reduce my policy performance? What is IBC? A friend of ours, James Neathery, often says, “If you understand the concepts, the details don’t matter, and if you don’t understand the concepts, then the details don’t matter.” Ultimately, what he’s saying is that you must ultimately understand the big picture of how and why IBC (Infinite Banking Concept) does what it does. Without that conceptual understanding, the rest doesn’t matter. And so, we’re first going to look at infinite banking or privatized banking on a conceptual level, so that we can get into the weeds. Infinite banking is an alternative banking position. As we know, banks pay you interest, and they charge you interest. Life insurance companies work the same way. If you have a whole life insurance policy, the insurance carrier will pay you interest and charge you interest. The power of “banking” with a life insurance company is in the rates, the leverage, and the level of control. To access the cash value of your life insurance, you can take a policy loan. The benefits of a private system are that you do not need permission or approval. This is also where infinite banking interest rates begin to matter, because the loan structure is directly tied to how your cash value continues to grow while the policy remains fully active. The Power of Leverage The reason that IBC works in a way that regular banking does not is because of the power of leverage. The rate at which insurance companies pay interest is often far greater than what the banks offer, as well as dividends. This allows for greater accumulation. Then, you can leverage that money to do more jobs. This could mean taking a policy loan at 5% and investing it in real estate at an even better rate. You can then put the monthly cash flow towards the loan repayment and give your money a better rate of return in the long run. And because you’ve leveraged the insurance company’s money (using your cash value as collateral), your policy continues to accumulate interest at its maximum compounding potential. The benefit is that you’re not JUST putting your money in a vehicle with better safety, liquidity, and growth. You also have an ASSET that allows you to accumulate more assets with uninterrupted compound interest. IBC is not magic. However, it’s a strategy you can use to make your banking more efficient and work more in your favor - and understanding how infinite banking interest rates fit into that strategy helps clarify why leverage is such a central part of the system. Do Life Insurance Companies Charge Interest on Policy Loans? Yes, the life insurance companies DO charge you interest. This is because you’re borrowing from the insurance company instead of taking money directly from your cash value. This means that your entire cash value can continue to compound uninterrupted. Instead, your cash value acts as collateral. This means that your death benefit will be reduced until the loan is paid back. You aren’t borrowing your own money and paying yourself interest, which is a common misconception. It’s also why infinite banking interest rates become part of the overall design, since the loan structure is tied to keeping your full cash value growing while the policy remains intact. Why Compounding Interest Matters You might wonder WHY you would want to pay interest at all, when you could just withdraw from a regular savings account. The answer is in the compounding. When you withdraw money from a bank account, there’s less money to earn interest on. As we all know, interest accumulates better on larger sums of money—1% of $1,000 is only ten dollars. On the other hand, 1% of $10,000 is a hundred dollars. At the higher balance, not only are you earning more money, you’re also earning money on THAT money. Which means next year, you’ll earn $110 of interest, and it will continue to compound and become more efficient. If, however, you withdraw $10,000 the next year, leaving $100 in the bank, you're only earning one dollar. You’ve minimized the velocity of your interest. A policy loan fixes this problem. So, although you

Are you frustrated with the volatility, fee structure, and abstract nature of most investments? Do you feel that you’ve outgrown the status quo investing strategy and want to play a bigger game with your investing? Have you heard of alternative investments, but don’t know where to get started? Do you need investments that are built for high performers like you, who know it’s possible to increase your income today? https://www.youtube.com/watch?v=np8dmb8n8Cw Today, we’re talking with Denis Shapiro, Managing Partner of SIH Capital Group and author of The Alternative Investment Almanac: Expert Insights on Building Person Wealth in Non-Traditional Ways. So if you want to hear about how one investor in the alternative space is helping others with a simplified strategy to invest for passive income… tune in now! Table of contentsWhat IS An Accredited Investor?Denis Shapiro’s Journey to Alternative InvestmentsHaving a Portfolio with Stocks AND Alternative InvestmentsThe Importance of Building RelationshipsAn Overview of the Asset Classes A Note on Ponzi SchemesThe Give and Take of Alternative Investments Diversify Between Liquid and Illiquid Assets How to Get Involved in Accredited InvestmentsGet The Alternative Investment Almanac by Denis Shapiro About Denis ShapiroBook A Strategy Call What IS An Accredited Investor? Accredited investors have certain investment opportunities available to them that the average person does not. Namely, a number of alternative investments outside of the stock market. So how do you know if you’re an accredited investor? Accredited investor status is actually defined by your income (or Net Worth). Let’s break it down; you’re an accredited investor, as defined by the SEC, IF: You are SINGLE, and have had an income of at least $250,000 for the past two years, with the expectation to keep earning the same or greater Your are MARRIED, and have had an income of at least $300,000 for the past two years, with the expectation to keep earning the same or greater OR, if you have a Net Worth exceeding $1 million. If you’re an accredited investor, or on track to become one, you’ll want to stick around to learn more. Denis Shapiro’s Journey to Alternative Investments In high school, Denis' older brother gifted him a copy of Rich Dad, Poor Dad by Robert Kiyosaki. Yet, he was skeptical of the ideas that Kiyosaki brought forth. His key takeaway, however, was that he should start buying assets--which was a mindset his peers did not have. So, he started with a mutual fund that didn’t do very well. That’s when he started to look for a different way, and he experimented with different assets. He also dedicated his college career to finance, which overlapped with the housing crash. When he graduated, the job market wasn’t great, so he decided to continue his education and get his MBA. Eventually, he broke into real estate and started building a portfolio that had stocks AND alternative investments. Having a Portfolio with Stocks AND Alternative Investments What Denis found when he had a portfolio only made of stocks, was that he couldn’t do it all. He couldn’t have appreciation and income and tax savings. In reality, though, the stock market just doesn’t work that way. You have to have a truly diversified portfolio to have everything—and that means having a portion of investments that aren’t correlated to the stock market. In other words, the performance of those investments doesn’t depend on what the stock market is doing. The problem with stocks is that the way they perform can depend on too many external factors. Stocks can drop based on rumors, company reinvention, and so much more. Instead of picking stocks, Denis realized that his stock portfolio performed better when he went with an index fund. Yet his income from that portfolio was still lacking. His epiphany was that in order to get the most from his index fund, he needed to let it appreciate on autopilot. Then, find a different solution to create income that wouldn’t tank at the whims of the market. So he turned to real estate. Real estate is much lower volatility because it’s not traded on a daily or even hourly basis. The Importance of Building Relationships Unlike the stock market, many alternative investments rely on relationship building, which can take months or even years. One of the networks Denis Shapiro has built for himself is for investors in apartment buildings. And because he’s spent the time building up relationships, he receives honest feedback about different investors and operators. These types of relationships can enrich your investing experience in many ways that you won’t find in stock-based assets. Simply because the stock market has too many variables. Real estate, however, has fewer variables. And one such variable is a very human element that depends on good relationships—between landlord and tenant, or investing partners, and more. If you’re looking into non-correlated assets, one of the best places to start is by b

Are you on track for financial freedom? If you don’t know the answer to this question, you’re not alone. https://www.youtube.com/watch?v=1uNyH8npUik Most people think the answer is how much more they have left before the house is paid off, how much left on the student loans, the balance of their retirement fund, the stock market’s performance, the Federal Reserve chair’s economic analysis, or interest rates. While these things paint the landscape along the road to financial freedom, they have almost nothing to do with your progress. Really, these answers avoid the question. The problem is that you can do all the analysis and understand the market factors, possibly make a lot of money when times are good, but still have the same nagging fear that you’ll lose it all or lose control. Today, we’re speaking out about the reasons why your financial plan is failing, and why so many good people with good intentions who are doing “all the right things” are still getting derailed. It’s not interest rates, the stock market, inflation, or having selected the wrong risk tolerance. So if you want to find out exactly why you’re not where you want to be… tune in now! Table of contentsThe “Problem” with Financial Advice5 Reasons Your Financial Plan is Failing1. You're Not Taking Action2. You Haven’t Defined What Financial Freedom Means to You3. You’re Distracted4. You’re Guessing 5. You’re Making Things ComplicatedAre You Doing the Best You Can with What You Have?Book A Strategy Call Do you find yourself asking questions like: Do I have enough money?Am I managing my money correctly?Do I have enough cash flow?Will I be able to afford retirement?Can I put my children through college?Am I going to be able to grow my business the way I want to? If you are, first know that you’re not alone and that there are solutions for you. Your financial experience doesn’t have to keep you up at night, and we want to help you jump over any hurdles on your path. We know that there are financial struggles at every income level—no matter how well someone appears to be doing from the outside. And in the same vein, there are also solutions at every income level. In today’s post, we want to address the five reasons your financial plan is failing, so that you can rectify them and get back on track to financial freedom. The “Problem” with Financial Advice Financial advice can be tricky because there are so many moving parts. You could talk with a broker and get one strategy, a CPA and get another, and a life insurance agent and get something completely different! Not to mention, when you go online and do the research yourself, you’ll read hundreds of conflicting viewpoints. It can seem like there are no right answers, or that you have to have a degree in finance or economics to really understand anything, yet that’s not true. We want to help you sift through the noise and put together something cohesive that works for you. First things first: you don’t have to do it all or start by doing everything. Sometimes mastering one strategy, and making it your own, can make a huge difference. Find something or someone that aligns with your values, and start somewhere. 5 Reasons Your Financial Plan is Failing 1. You're Not Taking Action When it comes to your financial future, one of the best things you can do is take action. If you let fear of failure keep you in a state of inaction, you can hinder any forward momentum. It’s important to acknowledge the things you’re afraid of—like losing money—so that you can take actions that will better your odds and your current circumstances. Because the reality is, there are too many variables outside of your control. The stock market and the economy will continue to change, even if you don’t take action. So what actions can you take to protect yourself and your finances now, so you can make riskier decisions with greater confidence? 2. You Haven’t Defined What Financial Freedom Means to You Another reason we see people struggling with their financial plan because they haven’t defined what financial freedom means. Financial freedom is not a dollar figure, or a certain amount of cash flowing properties. It’s not a fully paid-off house, and certainly not a certain net worth. Financial freedom, we believe, is a reliable income stream that is sufficient to not have to worry at night. Because as long as you’re stressing about how you’re going to pay the bills, you’re not financially free. Your mental and emotional energy is tied up. And this isn’t just a “now” problem. You may be able to pay your bills now, but worry about twenty years in the future when your kids are in school or you’re ready to retire. And those fears for the future affect your decisions now. You can also define financial freedom in a more personal way. Is financial freedom the ability to do what you want, when you want to do it? Is it more time spent with your family (and not stressing about making ends meet)? 3. You’re Distracted Your business

How do you create a healthy relationship with money that serves you? Today, we’re talking with Bob Wheeler, author of The Money Nerve, about how to create radical abundance. https://www.youtube.com/watch?v=YczbRpnO0E4 Bruce and I recently had the pleasure of joining Bob on his podcast, Money You Should Ask, and we just knew we had to share him with you. After all, how many CPAs do you know with a great sense of humor? We hope you’ll enjoy our delightful and humorous conversation with Bob about the feelings we have about money. So if you want to feel good about your money… tune in now! Table of contentsThe "Money Nerve" Behind the MoneyAn "External" View of Money(There is No Finish Line)Abundance is About PerspectiveWhat is a Money Nerve?Overcoming the Money NerveAbout Bob WheelerBook A Strategy Call The "Money Nerve" Behind the Money When Bob initially became a CPA, what he found was that people continuously made money decisions that weren’t in their best interest. They would receive advice, then do the opposite. Bob himself wasn’t doing well financially and he was making seemingly simple mistakes. So he decided to do the internal work and look at his emotional motivations, so he could learn why he was seemingly “self-sabotaging.” [4:35] “It all started to become really clear to me that we’re all working on these unconscious, emotional money beliefs and money blocks that we’ve been carrying since we were probably five, six years old. And we have to unpack that, for many of us, to go forward.” This research has helped Bob unlearn his own emotional blocks, as well as improve his client’s views of money, and break down the stigma and money shame so prevalent in our world today. And it led to his book, The Money Nerve. An "External" View of Money Beyond shame and guilt, the way we view other people’s money needs a huge overhaul. How many times have we judged someone by their home, or their car, and placed a certain value upon that? Not only do we believe that people with more must be happier, and label things as a solution to our problems. We also believe that at a certain income level, problems will cease. Yet this doesn’t really address the root of the problem—and that is, once again, the way we as a society feel about money. A certain income level does not define wealth, although it is easy to believe—true wealth involves what you can do with what you have. [6:23] “Social media, and our culture, really cultivates this [idea] that you have to be successful and you are your assets, you are your accomplishments...I think what happens is, we don’t stop and take a look and say—Wait a minute. That person with that jet and that fancy mansion also has incredible debt or something. Or they inherited it, and they feel incredibly shameful, and guilty, that they’ve taken on all these assets that they don’t deserve.” Social media is an arena we use to show the best of ourselves. Most people don’t share their credit card debt or how close to bankruptcy they are on Facebook. So we can’t judge by what we see on social media. Even the person with the best life you know has carefully cultivated their online presence. (There is No Finish Line) [9:25] “Everybody’s trying to get to the finish line. The thing is, I don’t want to get to the finish line—that’s my last breath. I want to have as much fun on the way to the finish line. For me, that’s where life exists, is on the way to the finish line. I think with athletes and these folks that can be in the moment, they’re conscious of that. I think most of us are unconsciously thinking—I gotta get there, I gotta do this, I gotta hit my mark—and so we’re unconsciously trying to get there instead of realizing... we’re here.” Abundance is About Perspective Abundance thinking is a bit of a misnomer, because so often people attach a number to abundance, and attempt to quantify it. What’s truly great about abundance thinking is that there is no magic number. Instead, it’s the ability to make what you have work for you better. And it all starts with being in control of your money (as opposed to someone else being in control). You don’t have to have $10 million to reach abundance. You could have significantly less and still live abundantly because it’s about perspective. How much control do you have over your own money? How much freedom do you have in your schedule? Do you live life on your own terms? Do you believe money in infinite? These are all notions that have no price tag, and from our perspective, this is abundance! Bob uses an example from his time in Africa to explain abundance, citing how the people he met saw opportunities in everything, and were immensely grateful. However, the attitude in America is often, “I don’t have enough.” True abundance, to Bob, is considering how abundant you are in your relationships, your time, your travel, your ideas, your opportunities, etc. Abundance is about what you have, and what you could yet have if you

We like to ask our audience, what is your biggest challenge with building wealth, and we receive so many insightful questions. Today, we’re answering a question from Matt about how to create a balanced wealth portfolio. https://www.youtube.com/watch?v=zZztP3WOhF4 So if you want to make sure you’re thinking through all the pieces of your financial plan and doing the best you can with your money for today and for the future, tune in now! Table of contentsAnswering a Viewer QuestionStarting with “Why”Having Cash for Emergencies and OpportunitiesMindset Matters for a Balanced Wealth PortfolioFixing Money LeaksAsset ProtectionYour Financial PictureThe Right Financial Vehicles for a Balanced Wealth PortfolioBook A Strategy Call Answering a Viewer Question We love when our audience asks questions, and we often answer them live in our recordings. However, we recently received a question from a viewer named Matt, and we thought it was a wonderful opportunity to dig into the topic more thoroughly. Matt asked, “How [do I] create a balanced wealth portfolio that includes a mixture of short, mid- and long-term savings for now and the future? [I’m] weighing between Backdoor Roth (for someone that has been funding a Roth for 20yrs)401k....where to stop....do you fund just to your match? Or what’s the income level where a couple loses the tax advantage of FULLY funding (I was always taught, get to a point where you can fully max for tax savings... but now I’m not sure)Independent stock investing in a basic brokerage accountWhole life Cash Flow accounts (when does it make sense to [add] this into one’s investment strategy).” If you’ve been thinking about how to do the best that you can with your money, this is the post for you. Starting with “Why” Financial advice is not one-size-fits-all… although it’s often talked about as though it is. The reason it isn't is because everyone has a different set of goals, as well as different financial histories. That's why it is so important to understand your “why" when building a balanced wealth portfolio. What are you saving for, and why do you want to optimize your money? In other words, what is the purpose of your money? Retirement is one of the most frequent savings benchmarks, yet it’s an incomplete goal. Retirement means different things to different people. The FIRE movement seeks to “retire” at 40, but most of them only retire from a job they don’t like. They continue to work in other capacities—filming videos, writing blogs, and managing investments. The underlying reality is the importance of finding fulfilling work, and creating enough cash flow to enjoy life in the moment rather than a future date. To other people, retirement means quitting work completely at the age of 65 or so. However, life expectancy is beyond age 100. That means that many people need to save enough money over 40 years of working to retire for another 40 years. That can be a challenging accomplishment. The answer for many is somewhere in the middle. Finding work that is fulfilling (and constantly reevaluating that fulfillment), optimizing your dollars for more freedom, having more control, and creating more opportunities. Some people may have entirely different goals. Therefore it's crucial to ask yourself—What is the purpose of your money? That purpose could be: Freedom to spend your time and money how you wantPutting your children through school or funding their passionsTravelling more now, rather than later The clearer you get on the purpose of your money, the easier it will be to tailor your portfolio to YOUR wants and your current financial picture Having Cash for Emergencies and Opportunities When we hear concern about having short, medium, and long-term financial success, what we hear is a desire for an emergency and opportunity fund. To have cash on hand for unexpected costs like car or home repairs, as well as money for longer term dreams or opportunities like travel, investments, or “fun money.” Matt’s question speaks to a desire to have all the financial bases covered, so that there’s more freedom and flexibility across all stages of life. And so the appropriate financial strategy is going to reflect that purpose. There has to be liquidity, control, flexibility, and sure, maybe a little risk. That’s the power of knowing your money’s purpose. Otherwise, it’s all too easy to end up with financial vehicles and assets that don’t fit those goals. An asset like a 401(k), for example, isn’t going to be a good short-to-mid term asset because the money is locked. A balanced wealth portfolio will have a mix of liquid and illiquid assets, comparable to your goals. Mindset Matters for a Balanced Wealth Portfolio The best starting point in almost all money matters is mindset. Mindset is a lifelong journey—we all have to work towards an abundant mindset. Scarcity thinking can slip into our lives easily. It’s the fear that we can’t afford something, or that we can’t endure a challenge, o

Want to grow and scale a profitable business? It’s just like growing a giant pumpkin! Back on the show after discussing Profit First, we have multi-best-selling author Mike Michalowicz to discuss some of newest books: The Pumpkin Plan, and Get Different. https://www.youtube.com/watch?v=it6WjNmBU7A I promise, a few minutes with this guy and you’ll have a whole new perspective on your business. So if you want to transform your business, find out how to hit your sweet spot where you’re serving clients you love, profitably, and marketing in a way that always gets results… tune in now! Table of contentsWelcoming Back Mike MichalowiczStand Out from the CrowdWhy You Should Profit FirstThe Mindset ShiftThe Pumpkin Plan1. Match the seed to the soil. 2. Pruning.Creating JobsA Special OfferAbout Mike Michalowicz Book A Strategy Call Welcoming Back Mike Michalowicz For the second time, we’re excited to welcome Mike Michalowicz of Profit First back to The Money Advantage. You can read more from his first interview here. We’re fans of Mike because he helps entreprreneurs bring profit into their business FIRST, so that they can help more people. It’s like putting on your own oxygen mask first, so that you can help others—you’ll do more good for more people when you take care of yourself and your business. Stand Out from the Crowd Mike recently asked his clients, “What is your biggest struggle right now?” And for most, their pain point was that they weren’t getting consistent quality in lead flow. This prompted Mike to consider what the root of the problem was. He determined that industry “best practices,” after some time, become a prime example of what NOT to do. That’s because once they’re adopted throughout the whole industry, everyone's the same. And prospects are seeking someone who stands out—someone who they perceive as uniquely positioned to help them with their problems. [3:23] “Do you vaguely remember getting that first email that was like, ‘Hey friend’?” In Mike’s example, he recalls how excited he was to receive his first “hey friend” email. The initial feeling was one of excitement and belonging, until he opened it and realized that it was just marketing. The second time he got an email with that subject line, he was more cautious. And by the third, he stopped opening emails with that subject line altogether. We’re sure you can relate. [3:57] “That points to the power of habituation. Meaning when we, the prospect, see something, we very quickly learn to qualify it as relevant or irrelevant. And ‘hey friend’ is irrelevant. What I researched was how to break through the habituation. Best practices are the ‘hey friend’s’ of the world.” Why You Should Profit First [5:30] "Every time you...sell something, you have a responsibility to deliver up what you sold--that product or service. So the more we sell, the more responsibility we have. And as small business owners, that’s more and more weight on our shoulders. It starts to show the cracks in the foundation. We don’t have the deliverable systems in place, the sales aren’t profitable. So we’re putting more burden on the organization, without extracting health.” So instead of placing all focus on sales, new businesses should actually be focusing on profit (first). Once profits are in place, sales and efficiency can come next. Otherwise, having attention too divided can be dangerous. The Mindset Shift [7:37] “Most entrepreneurs and business owners, like us, call ourselves entrepreneurs and business owners. I believe hose words have become bastardized. An entrepreneur is about hustle and grind, how bad do you want it, workaholism. And I think that’s a horrible thing to put out into the market. I think what we are about is, we’re a creator of jobs. Our job is to create a business that actually provides for people who want jobs. The way to make this mindset shift is to frame it with a different word. I suggest the word shareholder.” Mike’s recommendation is, instead of saying you own a small business, say you’re a shareholder of a small business. It might be awkward, but here’s the reasoning: shareholders take the investing risk and get the profit, and get to vote in future strategies. The Pumpkin Plan Mike says that growing a business is like growing a giant pumpkin. So what does that mean? It starts with an idea called “biomimicry,” which means emulating things that are naturally occurring. After all, Mother Nature spent centuries perfecting certain things, so what can we learn from her? In Mike’s research, he learned that some plants, with human intervention, can have explosive growth that is both safe and healthy. Three words: colossal pumpkin farming. Growing a colossal pumpkin doesn’t happen by accident—it happens with intentional cultivation. And here are some of those lessons: 1. Match the seed to the soil. Certain seeds will thrive in certain soil. In the same way, certain businesses will thrive in certain communities. So you don’t want to waste any ti

Ever wonder if the rich and famous use life insurance? https://www.youtube.com/watch?v=rWNYEK6iuio Life insurance is a private asset. That’s why you don’t hear a lot about it in the public arena. But wouldn’t you love to hear how life insurance is being used in the lives of people whose names you’d recognize? Today, we’re talking about some life insurance that’s as close to the spotlight as you get—coach of the Michigan Wolverines, Jim Harbaugh, agreed to have his compensation package include life insurance. Today, we’re going to talk about one case where life insurance was used as executive deferred compensation that benefits both the employee and the employer. So, if you’d love to see how other people are using life insurance, join us for the conversation! Table of contentsWhy Don’t More People Talk About Life Insurance?Jim Harbaugh’s Life InsuranceBenefits for Harbaugh’s HeirsA Creative Way to Use Life InsuranceA Split-Dollar ArrangementOther Successful Uses of Permanent Life InsuranceBook A Strategy Call Why Don’t More People Talk About Life Insurance? Well, likely because it’s such a private asset. Whole life insurance shields policy owners from creditors, is not reported to the IRS, and it doesn’t have to be included on FAFSA forms. In fact, it can’t be used in lawsuits either. The privacy afforded by whole life insurance is so valuable, and yet it also means that unless someone talks about their own experience, there’s no way to Google how much insurance someone has or doesn’t have. Add to that the fact that many people still believe whole life insurance is only useful for death benefits or that it’s too expensive or complicated to understand. This combination of legal privacy and public misunderstanding is why many people (even professionals) rarely talk about life insurance in depth. But it’s not just for retirees or families. Whole life plays a major role in executive compensation packages, often structured to reduce tax exposure or retain top talent. By its nature, insurance is private, which means people who have it tend to be private about it. Now that someone in the spotlight—Jim Harbaugh—has publicly spoken about life insurance, it’s a little easier to put it into context for you. His life insurance strategy is a perfect case study in how this under-the-radar financial tool gets used at the highest level. Jim Harbaugh’s Life Insurance Not only is Jim Harbaugh being paid $5 million a year as a coach, but the Jim Harbaugh life insurance package negotiated with Michigan adds another layer of long-term value. The university has loaned him $4 million to start a policy, with an additional $2 million a year for the following five years. This type of agreement is known as a split-dollar arrangement, which is commonly used in high-level executive contracts to offer long-term incentives and minimize tax liabilities. The ability to leverage his policy means he can take loans without incurring income tax. And as long as he keeps his policy in force, he does not have to repay the loan from the school until he passes on. A portion of the death benefit will pay it off. In practical terms, this gives Harbaugh tax-advantaged access to cash throughout his life while still leaving a sizable benefit behind. This is what we call a win-win situation—where the school has a near-guarantee to receive their money back, they’ve secured Harbaugh as a coach, and Harbaugh gets the benefit of a policy. Of course, there are stipulations to this contract. If Harbaugh leaves his coaching position before the contract is up, he will have to repay the premiums loaned to him upon termination or resignation. This life insurance strategy isn’t unique to football coaches. It’s a smart approach for any executive seeking long-term financial security and flexibility without giving up liquidity today. Benefits for Harbaugh’s Heirs Not only will Harbaugh benefit, but this arrangement actually acts as significant protection for his heirs. If Harbaugh were to pass on while Michigan is paying for the policy, they won’t be disinherited. They will receive no less than 150% of the premiums paid on the policy. That means, if Harbaugh were to pass, and Michigan had paid $10 million until that point, his heirs would receive at least $15 million. The payout would also help the university recover what they had loaned him, and be able to cover the cost of replacing him. A Creative Way to Use Life Insurance Ultimately, not only does this move allow Harbaugh to earn more money, as well as leverage power, but it also allows the University to invest in him through a cash value life insurance policy. A Split-Dollar Arrangement A split-dollar agreement is a way of structuring life insurance, where the employer and employee determine who will pay what. Then, they determine how much of the cash value and death benefit each party is entitled to. In other words, it’s a shared agreement, often used to give executives life insurance coverage without the full fi

Need capital in your business, fast? Today, we’re talking about another way to get a capital infusion through business credit. https://www.youtube.com/watch?v=J_qT49JxLlI The problem is that most business owners who want financing don’t get as much as they could, because they haven’t worked on the qualification process. That’s where CreditSuite can help. Ty Crandall has become a recognized authority in business credit building, business credit scoring, and business credit repair. So if you want to improve your fundability, build business credit, or get loans and credit lines… tune in now! Table of contentsBreaking into the Business Credit WorldCredit ReportingBusiness Credit vs. Consumer CreditThe Right Time to Build Business CreditBusiness Credit Cards vs. Consumer Credit CardsLeveraging DebtBuilding Business Credit Separate from Personal Credit1. Create Separation2. Get Your Credit In Line3. Find Companies that Report to Business Credit Reporting AgenciesFinding the "Sweet Spot"4. Start ImmediatelyBusiness Credit Gives You OpportunitiesTy Crandall’s OfferBook A Strategy Call Access to cash is critical for a business owner. While you don’t want to rely solely on credit for your business cash flow, you don’t want to be stuck in a spot where you need it and don’t have it. Breaking into the Business Credit World Ty Crandall's first company was a mortgage company that he quickly grew into a 7-figure company. And he rode that wave right up until the subprime mortgage crash, when things started to go south. While he thought he had access to plenty of capital, it turns out that wasn’t the case. After a few late payments, as he figured out how to navigate a failing business, the unexpected happened. His credit card companies actually shrunk his credit limit down to what he owed, so that he could not spend anymore, which effectively tanked his credit score. Then they pulled the money out of his personal bank accounts, depleting his cash stores. When something like this happens, other areas of your life can snowball—checks can bounce, and you can’t use credit to get out of the hole. Ty worked overtime to get out of this hole, but he couldn’t find quality credit information anywhere. During this period, he learned about business credit, and realized that the information was nearly impossible to access. So he decided to compile information about business credit himself, and begin teaching people how to use it and why. Credit Reporting Many people don’t understand the scope of credit reporting, because it happens in the background. Ty shares that a lesser known practice of consumer credit reporting is transparency from company to company. So if you have a late payment on one credit card, and not the others, the other companies will still know because it's in your report. Since all the companies have access to this information, your other credit providers can choose to lower your limits on that reporting alone. That’s what happened to Ty when his credit imploded. Business Credit vs. Consumer Credit Business credit is a “hidden gem,” even though it has been around longer than consumer credit reporting. If you’re a business owner, having business credit can help keep your business separate from your personal credit, so that you can have more privacy and safety... and avoid negative outcomes in uncertain financial times. [11:20] “The main scores that are used are just based on how you paid in the past. That’s it! It’s just a mathematical interpretation of how you, on average, pay your bills. And I love that! How easy is credit, if we’re scored just based on: Do we pay on time? Do we pay late? Do we pay early? How late do we pay?” Consumer credit has many factors built into the score, and can take years of diligent monitoring to get to the top. But with business credit, you can build your score in as little as one month by getting a single account that stays in good standing with Experian or Equifax, or accounts that report to DNB. The Right Time to Build Business Credit Business credit takes time to establish—not nearly the time it takes to establish personal credit, however you still need a few months. So how do you know when it’s good timing to establish business credit? The best course of action, according to Ty, is not to wait. As soon as you establish a business, it’s a good time to start building your business credit. Otherwise, you risk negative outcomes to your personal credit. [13:00] “Business credit really is created to help your business fund itself. The biggest mistake... I see business owners make, is they try to fund a startup using consumer credit cards. And they make two essential mistakes that a lot of established entrepreneurs know. They think thighs will happen way faster than they end up doing, and they also think things will cost way less than they end up costing.” The reality is, starting a business will take more time and money than you think it will. And consumer credit cards we

For Infinite Banking, the ideal policy is a specially designed, high cash value, dividend-paying, whole life insurance policy with a mutual company. But some mutual companies, including Ohio National, have recently demutualized. So what is whole life insurance demutualization, and what does it mean? https://www.youtube.com/watch?v=TS9lWhrTpGU Today, we’re going to talk about demutualizing and how it affects Infinite Banking policies. You’ll learn: How a mutual company worksWhy you want a mutual company for Infinite BankingWhy life insurance companies demutualizeWhat to do if your life insurance company demutualizes Hopefully, we’ll cover the question on your mind. So, if you’d love to see what the future holds for Infinite Banking, join us for the conversation! Table of contentsOhio National DemutualizationWhat is Infinite Banking or Privatized Banking?What is a Mutual Life Insurance Company?How Do You Choose the Best Company?How Does Whole Life Insurance Demutualization Work?What's the Reason for Ohio National Demutualization?Book A Strategy Call Ohio National Demutualization On March 23rd, a very prominent insurance company, Ohio National, announced their demutualization and planned merge with a Canadian company. In anticipation of the questions, we want to debunk and provide some clarity about what it means to demutualize, and how it should or shouldn’t affect you. What is Infinite Banking or Privatized Banking? Conceptualized by Nelson Nash, Infinite Banking is a strategy of accessing the cash value of an insurance policy for leverage. It wasn’t a new function, however his ideas were new. And so, he wrote a book called Becoming Your Own Banker. By leveraging the cash value of an insurance policy, and borrowing against it rather than withdrawing from it, you can make your money do two jobs. A specially designed policy, for high cash value, with a mutual company, is the preferred method for privatized banking. What is a Mutual Life Insurance Company? A mutual insurance company is a company in which policy owners are partial owners of the insurance company, rather than stockholders. As a partial owner, you are entitled to a portion of the company’s profits in the form of dividends. This also means that mutual companies are not beholden to investors. This allows them to operate on a much more conservative basis for long-term performance. A stock company, on the other hand, does not pay dividends to policy owners. Instead, investors pay dividends to stock owners, who may or may not have a policy. As a result, stock companies have to make short-term, risky decisions to appease stockholders and keep stocks up. How Do You Choose the Best Company? In the world of life insurance, it can seem like there is an overwhelming amount of options. Do you choose mutual companies or stock companies, direct recognition companies or non-direct recognition companies, etc. How do you determine which are the best life insurance companies? First and foremost, we want to be clear that there are two main factors you should consider before anything else—the financial strength of the company, and the customer service. The former is important because you want a company that can meet its financial obligations. Life insurance companies commit to paying every policyholder a death benefit. So are they making risky choices with their finances, or being more conservative? Mutual companies tend to think long-term and hold more reserves than stock companies. Even within mutual companies, it’s important to look at financial strength. Then, you want to look at customer service. How do various companies treat their policyholders? What are people saying? Because of the nature of permanent insurance, you’ll be working with a life insurance company for life. It’s important to know how their service is. How Does Whole Life Insurance Demutualization Work? In the case of demutualization, a company is legally changing its structure from a private member-owned, dividend paying company to a publicly traded stock company. When this happens, a company has the option to offer stock to policyholders, although this doesn’t always happen. Otherwise, your cash value and death benefit remain intact. The only thing that really changes is that you stop receiving dividends. As a policy owner with a company that has demutualized, you have a few decisions. First, you can keep your policy in place. Another option is to 1035 your cash value into a new policy elsewhere. Depending on your policy age and cash value, a 1035 exchange may not be your best option. When Bruce had a policy demutualize in the 80s, he ran an analysis on his options. Ultimately, he chose to keep his policy in place, because it kept his higher death benefit in-tact. One of the best things you can do is determine what you want from your money. Then, assess if your policy will still meet those objectives. The takeaway? Demutualization isn’t doomsday. In the end, you still have one of the most c

Inflation is in the news. Should you be concerned? What should you do to make sure you’re protected? https://www.youtube.com/watch?v=8l43QGtzmKg In today’s conversation, we’ll talk about inflation, the consumer price index, and how to stay financially strong so you can build financial freedom. Join us below for the conversation! Table of contentsWhat is Inflation?The Consumer Price IndexCPI Has Risen More than ExpectedWill the Fed Raise Interest Rates?Financial Freedom in the Face of InflationResources and Links:Book A Strategy Call What is Inflation? The most common belief about inflation is that businesses raise their prices to make more profit. However, it’s much more than that. Inflation is linked directly to the money supply. And when the money supply increases, prices tend to increase in proportion. The feeling of inflation is that your dollars do not go as far—that prices are increasing for items, without the volume rising. It feels as though your dollars are worth less. Investopedia defines inflation as “the decline of purchasing power of a given currency over time. ... Inflation can be contrasted with deflation, which occurs when the purchasing power of money increases and prices decline.” If you look at the overall inflation from 1913 to now, there was an average increase of about 3% per year. While in reality some years inflated more or less, we can expect an upward trend in the future—give or take. The Consumer Price Index If you’re wondering how inflation is calculated, it’s calculated through something called the Consumer Price Index. Investopedia defines this as “a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them.” What’s interesting is that not all the items you may see inflate are included in this basket of goods. So just because there is a certain inflation rate doesn’t mean that you’ll experience that increase exactly with all products. The way you may experience inflation is going to depend largely on your geographic location. There’s personal inflation, city inflation, state inflation, national inflation, and international inflation. That’s why your money might go farther (or not as far) when you travel to other countries. You can see the CPI history for yourself on the Bureau of Labor Statistics site. CPI Has Risen More than Expected At the time of writing, the CPI has increased by 0.6% since March, and is up 2.6% since last year. That’s more than projected and represents the highest year-over-year gain since 2018. With inflation rates increasing, there’s considerable conversation about how that’s going to impact Americans. Most notably, gas prices have skyrocketed. In March, gas prices increased by 9.1%, and is up 22.5% from last year. These fluctuations have had a big influence on the CPI in an indirect way. The CPI doesn’t factor in gas or energy directly because of how volatile the prices can be. And more importantly, because gas and energy prices directly impact the prices of goods like groceries, because of what it takes to produce and transport them. Will the Fed Raise Interest Rates? Despite inflation projections, the Fed has made a statement that they’re unlikely to hike interest rates in response—even with a strengthening economy. Instead, they will continue to commit $120 billion a month to bond purchases. We see it this way—if the Fed raised rates now, and something stopped the growth we’re seeing, they wouldn’t have any “bullets in their gun.” It would be more difficult to drop the rates if needed, than to continue riding the low rates for the time being. Financial Freedom in the Face of Inflation How do you create more certainty and create time and money freedom for yourself, even in the face of inflation? While saving is the cornerstone, regular savings won’t outpace inflation on its own. First, it’s important that as inflation rises, your income rises as well. Otherwise, any debt you have can stymie your growth. For example, if your credit card payment increases, or the feeling of that payment does, and your income does not, it’s a much bigger burden on you. Suddenly, you’re allocating more of your dollars on past purchases than saving for the future. The next step is to stay calm. What you need is a level head—before acting out of fear, slow down. Making rash financial decisions can negatively impact your objectives. Instead, focus on the principles of wealth: Paying yourself firstSaving a percentage of your incomeLeverage assets with safety and liquidityChoose assets that keep up with inflationSeek as much growth as possibleInvest in what you know and can control We’ve found that Privatized Banking strategies with cash value insurance help you to grow money safely and with liquidity. Then you can leverage that cash value to make smart investments that facilitate ca

Love the idea of Infinite Banking, but want to see how it could apply to your business? Looking for a way to improve your creditworthiness, financial stability, get great cash storage, capital reserves, to maximize your profitability in your business? https://www.youtube.com/watch?v=bAqNmDGzhyM Today, we’re going to talk about how to boost your business's financial performance with Infinite Banking—and how to use Infinite Banking in your business. You’ll learn: How storing capital in an Infinite Banking policy serves your businessWhat you can do with the cash valueWho should own the policyWho can use the policyHow to best leverage this Swiss army knife of an asset in your business So, if you’d love to see exactly how to take your business to the next level with Infinite Banking, join us for the conversation! Table of contentsBrand New to Infinite Banking?The Art of Long Term and Short Term ThinkingInfinite Banking for BusinessA Place to Warehouse CashHow Quickly Are Premiums Available to Use?How Can You Fund a Policy for Business?Who Should Own the “Infinite Banking” Policy?Buy-Sell AgreementsInfinite Banking for Business Can Keep You ProtectedBook A Strategy Call Brand New to Infinite Banking? Infinite Banking is a concept originated by Nelson Nash, who realized that he could leverage his whole life insurance in his own business. This prompted him to write his immensely popular book, Becoming Your Own Banker. Whole life insurance accumulates a cash value that earns dividends, and can multiply wealth by using policy loans to create cash-flowing investments. In fact, policy loans can be used for whatever you want (however, investments help you generate more cash flow). The Art of Long Term and Short Term Thinking As Nelson Nash has said, there’s an art to marrying long-term and short-term thinking together. Too often, people choose one or the other—or they mistake long-term thinking for five-year thinking. True long-term thinking spans decades, or even generations. And it takes long-term thinking to make Infinite Banking strategies work, because whole life insurance is a long-term asset. You won't get rich overnight. However, you must also have the foresight to see the short-term actions necessary to take the leap and set yourself up to benefit from Infinite Banking. Establishing good savings habits, making wise short-term decisions, and having a good business trajectory are all essential short-term actions. You’ll make the best short-term decisions in your business when you think about the long-term impact. The more range you have in your “vision,” the better choices you’ll make today. It’s important as you move into business that you learn how to balance these short- and long-term trajectories. Infinite Banking for Business A Place to Warehouse Cash Where are you going to store your capital? This is a question that any good business ought to ask—because if you’re making a profit, it has to go somewhere. And ideally, you also want that money to be earning while it’s in storage. While bank accounts and money markets offer a place to store money, they earn next to nothing. Whole life insurance, on the other hand, offers an alternative that far outpaces those accounts. In addition, whole life insurance offers growth without risk. It’s non-correlated to the stock market and therefore is not subject to the same whims of the market. You can use your cash value in times where profits are lean, or to make big-ticket purchases that will help expand your business. Your cash value can also help you secure financing for projects that the bank might find risky, yet may help you increase revenue. It can also protect your privacy from both creditors and the IRS. How Quickly Are Premiums Available to Use? When you pay your first premium, your cash value is available for a policy loan within 30 days. The amount of your premium, however, can differ. When a policy is new, a good portion of the premium goes towards the cost of the policy. This is because there is more risk to the insurance company at this stage—if you were to die right after your insurance goes in-force, the company must pay your entire death benefit. So early premiums skew heavily toward that “funding.” Over the years, as you pay your premiums, a higher and higher percentage goes into your cash value. And often, around the 7-12 year mark, your policy will “break even” and match the total amount you’ve paid in premiums. After that point, your cash value will always exceed what you’ve put into it (unless defaulting on a loan). Long-term thinkers will recognize the benefits—higher liquidity, higher death benefit, and higher growth. Policy “design” can also affect what percentage of your very first premium is available to use right away. With the right design, you can still have access to up to 70% of your contributions in the beginning. Your advisor can help you find the right design for you, based on your unique needs. How Can You Fund a Policy for Bu

In part 1, we started discussing the top questions about Infinite Banking that we hear all the time. This week, we’re finishing up the conversation, so that you can make a decision about Infinite Banking with confidence. https://www.youtube.com/watch?v=xNKGjD5eEIg Hopefully, we’ll cover the question on your mind. (And if we don’t, check out Part 1 of this conversation to see if we’ve covered it there.) So, if you want to clear up your doubts, find out exactly what to do about your concerns, and know what to do next, join us for the conversation! Table of contentsStrategy vs. ProductYour Top Questions About Infinite Banking, Answered1. How do I compare illustrations effectively?2. Can’t I get better growth with an IUL?3. Can I use my home equity instead of life insurance?4. Do I make enough money to have or benefit from insurance?5. Is it the right time if I’m in a big personal or business transition?6. Am I too old for life insurance?7. What if I’m not in perfect health?8. I have stores of cash now, what if I don’t want to commit to ongoing funding?9. What happens if I become unable to pay my premiums?10. How can I trust this if no one I know is doing Infinite Banking?Book A Strategy Call Strategy vs. Product Before we begin our conversation, it’s important to note the difference between Infinite Banking as a concept, and whole life insurance as a product. As a product, insurance offers many benefits that we advocate for--growth, liquidity, asset protection, and more. On the other hand, Infinite Banking refers to how you use your products. Insurance, on its own, isn’t “magic.” However, the way you design your policy, combined with the strategies you use to leverage that cash value, is what makes up Infinite Banking. Now that you have that framework, let’s get into round two of your top questions about infinite banking. Your Top Questions About Infinite Banking, Answered 1. How do I compare illustrations effectively? When comparing illustrations between companies, it’s important to note that illustrations are projections, and are non-guaranteed. Although illustrations often have a guaranteed portion, you can expect dividends to be paid. Once dividends are paid, your entire projected illustration will change, as will projected dividends. You can use illustrations as a good guideline, although so much will change from year to year, and the difference between companies will not be much different in the long run. If you’re trying to choose between a direct or non-direct recognition company, for example, the long-term differences are not that significant. The most important decision you can make is the decision to get a policy today, for the best results possible. Differences between premiums and face amounts will be more significant in your decision-making process than which company you go with. 2. Can’t I get better growth with an IUL? You could, potentially, get better growth in an IUL. However, IUL illustrations often leave a lot unsaid. For starters, there’s an increasing term insurance cost within the policy (rather than a level cost) that your growth will have to outpace. On another hand, IULs have fewer guarantees and more risk involved. People often misunderstand the language used in IUL contracts as well--people are told that they cannot lose money, so they buy policies with a false sense of security. And while you cannot lose money from the stock market component, you can lose cash value from the increased cost of your insurance, which correlates to the market performance. Everything in insurance has a trade-off, including the “market-returns” of an IUL. Ultimately, it’s up to you to decide the purpose of your money, as we mentioned in Part 1. With an IUL, you take on the risk. With whole life, the company assumes the risk. If you are seeking to save and grow money, whole life insurance is likely the better vehicle. 3. Can I use my home equity instead of life insurance? The more people learn about whole life insurance and Infinite Banking, the more they realize that building cash value is very similar to building equity in a house. The challenge, however, is how you access the equity in your house, via a HELOC. This is often the vehicle used for velocity banking. The first roadblock is that you must ask the bank for access to that equity. If they see you as unfit to pay back a lien against the equity, they can deny you. The bank has the ultimate authority over your access to that cash. Insurance companies, on the other hand, will give you a policy loan without question because it is collateralized against your cash value. The other downside is the unpredictable nature of the housing market. If your house were to lose value, your equity will evaporate. Your insurance is not subject to market volatility, and cannot evaporate or diminish in any way because of the contractual obligations. 4. Do I make enough money to have or benefit from insurance? We see this question often, and we’re happy to say that In

Are you looking for a formula to grow your business? Cesar Quintero, Certified EOS Implementer and visionary of The Profit Recipe is here to help! So, if want to figure out how to tap into your purpose, get traction, and solidify a healthy team… tune in below! Table of contentsUnique AbilitiesThe Power of VulnerabilityThe E-volution FlywheelThe Ikigai ConceptEOS and The Profit RecipeContact Cesar QuinteroAbout Cesar QuinteroBook A Strategy Call Is there a formula for business growth? As it turns out, there just might be, and Cesar Quintero holds a key to entrepreneurial success. Now, he's sharing his lessons about entrepreneurship with us. We're sharing the highlights of our conversation below. Unique Abilities Dan Sullivan of Strategic Coach teaches about unique abilities--the skills that we all inherently possess and are uniquely positioned to do. When we work from these abilities, we have more energy and create more value than when we do things we are not uniquely designed to do. And this idea is the foundation of Cesar's work with entrepreneurs. [8:15] “Everybody says that entrepreneurs can change the world, and businesses can change the world—and I’m a true capitalist. I really feel that if we can generate value we can change the world... I truly believe that only happens if the entrepreneur... really leverages their unique ability.” When you take care of your team, and have them working in their unique abilities, they can take care of clients and create more value. So focus on creating a team that thrives first—so your customers thrive naturally as a result. The Power of Vulnerability Building a team of entrepreneurs who are working in their unique abilities takes vulnerability. It’s not always easy, but it fosters trust and growth. Opening up your numbers to your team, for example, takes massive vulnerability. However, the amazing result is that people take ownership of those numbers—they’re contributing, and that’s empowering. [12:39] “I started my business at 24, and most people around me were older than me. Every room I went to... I was always the youngest guy there. I had to prove something to people, I think, in my mind I always had to prove that I knew, and I was right. And I think letting down my ego helped me become a better leader and a better businessman.” The E-volution Flywheel Cesar shares one concept behind his upcoming book, and the foundation of his business, the E-volution Flywheel. [15:39] “After hundreds of different entrepreneurs that I helped, I saw a pattern... There’s five stages. The important thing with this cycle, is that true entrepreneurs and true leaders and people, we don’t go through this on a sequential aspect.” The stages of Cesar’s model are: Startup—You’re seeing opportunities in the marketplace. Leader by Design—Understanding what you can and cannot do. Team by Design—Delegating what you cannot or will not do to internal and external teams. Biz by Design—Create systems for your business to work without you, so you can continue to scale and create value. Life by Design--Living life on your own terms. While these stages can be happening at once, Cesar has found that moving sequentially helps you get unstuck. So if you’re stuck designing your team, you need to look at the next stage of the cycle—Biz by Design—to get some clarity and get unstuck, and on and on. So rather than a linear cycle, the E-volution Flywheel deals with the stages on a random and cyclical basis. The Ikigai Concept In this Venn Diagram of sorts, Cesar shares with us the components of the Ikigai Concept. The heart symbolizes purpose. The star is for things you’re great at. The bottom represents things that make you money. Finally, the globe represents things that benefit the entire world. The intersections of these traits are what society often says should be your hobbies, profession, vocation and mission. [27:15] “The Ikigai concept is, 'What’s best for you? What makes you tick? What’s your purpose, what are you great at, where do you make money, and what’s great for the world?'” You need the intersection of all four for true fulfillment, and it’s a fallacy to think that you have to box yourself in—that you should only work where you’re skilled and make money, or only treat your skilled passions as hobbies. Instead of striving for a work-life balance, strive to have a life you don’t need to escape from. If you’re seeking more balance because you don’t enjoy your career, it’s time to make some changes. EOS and The Profit Recipe The EOS (Entrepreneurial Operating System) is a model that Cesar follows and uses to coach clients through their businesses. It equips entrepreneurs and teams with systems, so that they can be self-sufficient in the future. [35:28] “EOS has 6 key components. So the six components are Vision, People, Data, Issues, Process, and Traction.” Cesar uses EOS is his businesses, including The Profit Recipe, explained below. [36:10] “What The Profit Recipe rea

Are you considering Infinite Banking, but you aren’t sure yet if it’s a good fit for you, and you’d rather figure it out before investing time into a personal conversation with an advisor? Look, your concerns are absolutely valid! But let’s let those questions propel you to action, not indecision. Today, we're answering the top questions about Infinite Banking that we have heard. https://www.youtube.com/watch?v=qVZbt1tog3w Hopefully, we’ll cover the question on your mind. So, if you’d love to clear up your doubts, find out exactly what to do about your concerns, and know what to do next, join us for the conversation below! Table of contentsWhat is Infinite Banking?Your Top Questions About Infinite Banking, Answered1. What if I don’t like whole life insurance?2. What if I don’t need insurance?3. Can’t I get better returns in the stock market?4. Will I lose access to some of my cash at the beginning?5. I already have a policy; is it a good one?6. I’ve heard many people talk about the "ideal" policy design—how do I know if I have that?7. Am I overpaying for insurance?The Reason for Infinite BankingBook A Strategy Call What is Infinite Banking? Infinite Banking is a strategy of using a financial product in a way that accelerates growth. We use specially designed, high cash value life insurance with mutual companies that pays dividends. These policies grow with guaranteed interest, and non-guaranteed dividends (although dividends are highly anticipated and have a good track record of being paid). This means that you have access to cash that is growing, liquid, and will not drop in value. Infinite banking is often misunderstood, yet it’s a strategy that has been used for centuries by our country’s wealthiest people as a means to build and protect wealth. If you have questions about Infinite Banking, we highly recommend checking out this post to get some of your top questions about infinite banking answered. Your Top Questions About Infinite Banking, Answered 1. What if I don’t like whole life insurance? When this comes up in conversation, we often come back with the question, “Compared to what?” In reality, life insurance is hard to compare to other assets because it is fundamentally different from many assets. Rather than getting hung up on the product itself, we encourage you to take a different route. When we meet with people, one of the first things we ask them to consider is the purpose of their money. If you’re looking for growth, availability, investment capital, etc—those are purposes. When you can define what you want to do with your money, then you can determine the best products to use. Despite what you’ve been told, insurance may be the ideal asset for the goals you want to accomplish. It may not. However, you cannot judge it simply based on whether you like it—you have to see it as a means to an end. 2. What if I don’t need insurance? We hear this question often, for many reasons. Some people view insurance as something to protect their children. Others view insurance as unnecessary because they have enough money to “self-insure.” We think the better question to ask is, “Do you want everything that comes with insurance?” Insurance companies will never sell you more insurance than you “need,” so we prefer to look at the benefits. Beyond the living benefits, insurance protects your estate and can help ease unexpected costs (including loss of income). Insurance helps your money go further and your assets last longer. 3. Can’t I get better returns in the stock market? Let’s start with this: life insurance is not an investment. When we compare insurance to investments, we’re setting it up for failure. We prefer to look at cash value insurance as an alternative to savings accounts. Investments have risk involved, and therefore the potential for different returns. Savings, on the other hand, provide certainty and liquidity. Your cash value is the money you will access in emergencies and opportunities. In fact, you can even use your cash value to make investments. Insurance is a long-term strategy for wealth building (and asset protection). And Infinite Banking is a both/and strategy—you can invest AND save, and you can often yield better results in the long-term with both. 4. Will I lose access to some of my cash at the beginning? In the short-term, it’s true that your cash value will have a lower value than the premiums you pay into your policy. However, in the long-term, your cash value will surpass your premiums paid after a certain period. It’s difficult for many people to deal with this initial drop in liquidity. However, this discrepancy between your cash value and your premiums in the beginning pays the cost of insurance. This protects the contractual guarantee that the insurance company will pay a death benefit when you pass on. This trade-off protects the strength of your insurance policy, so that you can reap the long-term benefits. 5. I already have a policy; is it a good one? Whil

How are your New Year’s resolutions going? We’re almost three months into 2021, and it’s a great time to take an inventory of how you’re doing. This one simple morning routine I learned from Dan Sullivan has had a greater impact on my year than anything else. https://www.youtube.com/watch?v=EahEyM9wj-Q Today, we’ll talk about that one little idea that has the power to change everything for you. So, if you want to find out how to master your emotions, step into confidence, and get more done… tune in below! Table of contentsA Daily Morning Routine1. What’s my biggest danger for today?2. What is my biggest opportunity for today?3. What strengths do I have that I can reinforce today?Setting Your Foundation with a Morning RoutineBook A Strategy Call Dan Sullivan of Strategic Coach is an inspiration to entrepreneurs everywhere, which is why I always appreciate his words of wisdom. Dan calls himself a simplifier—he takes processes and makes them even simpler. When his email came across my inbox, I knew I had to share it with you. A Daily Morning Routine If you’re looking to be even more successful, and find even more inspiration in your day, creating good habits is a great place to start. That’s why Dan Sullivan proposes his specific morning routine—one that has been a game-changer for him personally. Having morning routines and habits can keep you grounded in an otherwise uncertain world, and it can also keep you on track with your goals. It starts with questions, which help to keep you focused on your goals. Here are the three things you should ask yourself to stay on a trajectory for success: 1. What’s my biggest danger for today? Or, "What am I afraid of?" At the heart of this question is structure. What you’re really doing is assessing your fears. What are you afraid of not doing, and how will that impact your success? Asking this question as a part of your morning routine sets you up to take action in the face of fear. And it keeps your fear from growing, like when you put off a project and it snowballs, progressively becomes more overwhelming. This question, consequently, can also help you filter out tasks that aren’t meant for you. If you’re dreading a task, and you’re dreading the consequences of not doing it, it’s likely a task you should delegate. You’re still taking action by delegating, and it gives you more freedom to do what you want to do. 2. What is my biggest opportunity for today? This is your chance to examine what you’re looking forward to in your day. If you follow these opportunities that you’re excited about, and take action, you can put yourself further ahead. In the first question, we addressed the importance of handling fear and delegating tasks. Following what energizes you is another great way to identify how you should fill your day, and what tasks you should delegate. Good tasks, activities, or opportunities are ones that will leave you feeling as energized as when you started (if not more energized). 3. What strengths do I have that I can reinforce today? The third question in this morning routine is about building confidence. It’s about taking action so that you can practice your strengths, hone them, and come out on the other side more confident and capable. There’s no better way to celebrate your strengths than by using them! If you continually work on your strengths, you allow them to develop and blossom. If you don’t use them, they atrophy. You likely know that it feels great to use your strengths, so don’t be afraid to use them often. This will help you feel more confident and step into your full potential. It also helps you be as energized as possible. Setting Your Foundation with a Morning Routine The world is so overwhelming right now, and if you're an entrepreneur, your mind is probably being pulled in a million directions. This exercise helps you simplify and focus on what you can do, today. It’s about pulling you into the moment and cutting out the background noise so that you can focus. These questions are tied to the emotions you probably feel each morning—fear, excitement, and confidence. When you can work through these emotions and apply them to your day, you can move from a place of inaction to action. There’s no better time than the present to plunge into the things you're excited about, take action on things you’re fearful of, and celebrate your strengths. Incorporating these principles into your morning routine will help you take action and be more successful. Book A Strategy Call Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? We can help! Book an Introductory Call with our team today https://themoneyadvantage.com/calendar/, and find out how Privatized Banking, alternative investments, or cash flow strategies can help you accomplish your goals better and faster. That being said, if you want to find out more about how Privati

Do you want to be more profitable, and enjoy the success of a thriving business, instead of running ragged on the hamster wheel of chasing the next sale? Barbara Stackhouse is writing Profit First for Dentists. https://www.youtube.com/watch?v=EzsWDyjLA2Q Sound familiar? It’s the specific application of Mike Michalowicz’s Profit First system, tailored to the dental industry, with their unique challenges and solutions. So, if you’re a dentist who would like to build a successful practice, or a chiropractor or physician, or even a business owner in another industry who wants to find out the secret code to profitable and sustainable business… tune in below! Table of contentsMike Michalowicz’s Profit First SystemLeave the Grind BehindThe Sales ProcessProfitability in Any BusinessSolving Business ProblemsFixed vs. Variable ExpensesPut Systems in PlaceWhy “Profit First”? Links MentionedAbout Barbara StackhouseBook A Strategy Call Regardless of your experience in the dental field, we think that Barb has amazing lessons to teach business owners. Her experience in Profit First systems make her an expert at organizing systems that help you keep more of your revenue. Mike Michalowicz’s Profit First System After discovering Mike’s Profit First system, Barb could instantly see how the Profit First system fit into the dentistry field, despite being a system geared towards CPAs. She contacted Michalowicz to see if she could go through his professional training process, despite being in a completely different industry. Now, not only is Barb a certified Profit First professional, but she is releasing a book for dentists to implement this process. Leave the Grind Behind [7:50} “If you’re an entrepreneur, you get stuck in the grinding it out. You're the technician in the business, you’re the person doing it all. And it doesn’t have to be that way.” Too often, entrepreneurs enter the business thinking that they HAVE to be un-profitable for a while. They grind and work hard, and hope that in five years, their business will be where they want it so they can slow down a bit. To Barb, this couldn't be further from what should happen. Instead, entreprneuers need to work smarter and build out their own profit, so that they can be prosperous now, enjoy their practice, and set it up for decades of success. The Sales Process [8:11] “So the main other thing that I talk about—which is another big area that dentists struggle with, and even team members sometimes need training with too—is kind of the sales process in dentistry. And it’s actually the same sales process that I use myself when I talk with a client. It’s all about serving that client. And really putting the need for the sale over on the shelf and just connecting. Having that relationship first and not pushing.” Through her work, Barabara created a system to facilitate this sales process, called P SERVE. The P stands for purpose, and Barbara urges dentists or team members to understand their purpose before taking a call, and then truly giving service from the heart. SERVE, as an acronym, describes the steps in the process. This methodology is something that Barb speaks on and teaches—to help dentists serve their clients first, knowing that the profit follows. Money flows by creating value—so serving and giving allows any business to flourish. This is very similar to Bob Burg's Go Giver mentality. [10:34] “The more you help people get what they want, the more you will get what you want.” Profitability in Any Business [10:53] “If you are an entrepreneur, and you open a business, you have a dream of being your own boss, probably. You want to call the shots. These are the common themes that I find. But you have to make a living at it. If you’re not profitable, then you have a hobby, you don’t really have a business. So I think that profitability has to be baked into the plan, if you will. It has to be a part of what happens from the start.” What Barb has found in her coaching is that too often dentists opening their own practices aren’t paying themselves when they start out. What she helps dentists learn is how to pay themselves first so that they can continue to keep their practice open. It starts with having a plan. The problem is that many businesses don’t follow a “Profit First” mentality. Entrepreneurs expect to not be profitable, or they’re "waiting for the leftovers." It can be rooted in scarcity thinking, yet once you pay yourself first, AND offer value to your clients, you can find true profit. One key problem? People don’t really know their true overhead. Solving Business Problems Here's what Barb identifies as some of the key problems that dentists or other independent medical practices face: [18:50] “So I would say that one of the big ones, especially now post-covid, is team. Its sad, but a lot of team members left the profession, because of covid... So there’s been big changes in their practice. Not all, but some younger teams.” Barb has no

Have you heard Dave Ramsey’s opinion of Infinite Banking and Whole Life Insurance? He says it’s a scam, a joke, hogwash, horrendous, a pile of manure, old school life insurance done poorly, a jumbled word picture, you can’t cut through the BS, screwing people, and just doesn’t feel right. https://www.youtube.com/watch?v=Jnbs0iANdMU Today, we’ll separate opinion from fact, so you can decide for yourself if Infinite Banking is a scam (or not) based on knowledge and understanding. So if you want to find out why the wealthy and independent thinkers have been using the profound guarantees and wealth-building strategy of Infinite Banking for centuries … tune in below! Table of contentsAre Insurance Agents Financial Advisors?How Do Mutual Companies Work?What is a Dividend, and How is it Non-Taxed?Are You Paying for Your Own Money?What Happens When You Die?Is Whole Life Insurance Expensive? Summing Up What Dave Ramsey Says About Infinite BankingBook A Strategy Call Dave Ramsey does a lot of good for a lot of people—he helps them to get out from under crippling debt and create better money habits. However, he has famously spoken against Infinite Banking, or what we often refer to as Privatized Banking. Are Insurance Agents Financial Advisors? To evaluate whether infinite banking is a scam, it's important to understand who is giving the advice. When met with a question about whole life insurance, Dave Ramsey was not thrilled about the idea, to say the least. However, his first criticism was that the advisor who recommended insurance was only an insurance agent and not a financial advisor or planner. However, most insurance agents often have other certifications—like CFP (certified financial planner) or a Series 65 (for giving financial advice). Just because someone is able to sell insurance does not mean they can’t sell investments or give advice. Insurance is simply one certification. How Do Mutual Companies Work? Infinite Banking works with mutual life insurance companies. Dave correctly identifies the difference between mutual companies and stock companies. Policy owners own mutual companies, while stockholders own stock companies. This means that mutual companies pay profits to the policy owners, while stock companies pay profits to stockholders. Critics who call infinite banking a scam often overlook how mutual companies are structured to serve the policyholders. This is where his accuracy stops. According to Dave Ramsey: “If you are the owner of the company and you’re also a customer of the company, and the only place the company gets money is from the customers that are owners, and they give you money from profit, by definition, that means it’s because they took too much from you as a customer. There wouldn’t have been a profit otherwise.” This, however, is not true. The life insurance companies make profits outside of premiums paid into life insurance policies. Companies also make money from their conservative investments--many of which are corporate and treasury bonds, as well as derivatives, mortgage backed investments, and some equities. Policy owners receive dividends based on these profits after policy expenses. It’s not accurate to say that premiums are the only profits. His understanding of mutual companies is not accurate. What is a Dividend, and How is it Non-Taxed? Dave Ramsey says, "So the IRS has deemed, consequently, that mutual life insurance company dividends are not dividends, in the true sense of a dividend, that they are instead, and this is the IRS’s language 'the refund of a deliberate overcharge.' So they overcharge you in order to give you some money later and make you feel like you’re making money off of them. And it's absolute hogwash. It’s a pass-through. Mathematically, it’s a pass-through. It’s the way it has to be, it’s the legal definition the freaking company, and the IRS says so." The government considers dividends non-taxable because they are considered a refund of an overcharged premium, but it’s important to realize that not all dividends are overcharged. The government also decides not to create a taxable event because it wants to incentivize people to have insurance. While dividends are not guaranteed, mutual companies have paid them consistently for over a century. If you're wondering 'Is infinite banking legit,' the tax treatment of dividends is part of the value proposition. Here’s the bottom line—if dividends were only a return of premium, you would never receive more than what you paid into a given year. However, if you look at an illustration, you will eventually come to a point where your policy’s cash value far exceeds what you’ve paid into your policy total. Are You Paying for Your Own Money? Next, Dave raises an objection to the policy loan provision. He says, “You’re borrowing your own money, and you’re paying them interest?! This is Infinite Banking for them!” While he raises a valid concern, policy loans are commonly

Do you want to make more money this year? Today, we’re talking with Rabbi Daniel Lapin, author of Thou Shall Prosper — Ten Commandments for Making Money, one of the deepest and most profoundly philosophical books about the wisdom you need to be successful. https://www.youtube.com/watch?v=wTujheo9dAk So if you want to learn about the steps that make success possible and make more far more money than you’re making right now… tune in now! Table of contentsThe 10 Commandments (of Making Money)Business is Not Piracy Biblical Wisdom as a FoundationThou Shall Prosper (and Be Happy)Charging InterestThe Most Important Thing To Starting a BusinessSpiritual CharacteristicsRabbi Daniel LapinBook A Strategy Call We’re excited to bring you a unique guest who may surprise you. Rabbi Daniel Lapin is more than just a man of faith, he’s also an accomplished speaker, scholar, and author of a book on our favorite topic—Prosperity. The 10 Commandments (of Making Money) While most financial books focus on returns and strategies and products, Thou Shall Prosper is a deeply profound look at the philosophical underpinnings of success and wealth. The book sprung into being after a series of lectures Rabbi Daniel Lapin gave on socio-political topics, when his most frequently asked question was, “How come Jews are so good with money?” It was a question many were sheepish to ask, yet it gave the Rabbi cause to study the question. Especially when he realized he did not have the answer readily at hand. And so he pursued the history of the financial success of many Jews, and in the process debunked many of the bogus explanations. He boiled his research down to one truth: [7:43] “It is that the vast catalogue of ancient Jewish wisdom embedded in the Hebrew scriptures, that have been part and parcel of Jewish culture. Whether it’s a man, dedicated sages who study the word diligently, or whether it’s among secularized Jews whose conversation around the dinnertable revolves around the way they raise their families and inculcate their children. All reflect these intrinsic values and so, in a nutshell, that’s what it was. And I worked as hard as I worked in my life to condense all of that into ten fundamental principles.” Business is Not Piracy In his research, Rabbi Daniel Lapin learned many Jews became pirates in the 17th century. They pillaged and plundered and built a trove of treasure. Then when they were ready to retire from piracy, they funded churches or other projects to reenter society peacefully. It's dangerous to compare modern day business to the same model. The wealthy should not have to buy their way back into polite society. Today, people compare businesses to this same model, despite being very different from piracy. Businesses are lauded for their donations, yet criticized for their income. Giving to charity should be a moral act, and it cannot "right" something that is not inherently wrong, like making money. [13:02] "If giving charity is giving back to society, then what the hell were you doing to society when you were making money in the first place?" No one complains athletes make too much. Yet people complain about CEOs—they do specialized work and are the linchpin of many major decisions. Biblical Wisdom as a Foundation Our world as we know it is based on principles and ideas found in the Bible. [23:50] “So ancient Jewish Wisdom explains that—that is the way that it teaches and explains that—you’re not allowed to exploit a lack of information in a business transaction that isn’t transparent. And so, I’m actually prohibited from offering you a price for your property without disclosing to you that I’m aware that there is a plan development or infrastructure that is going to be built there that is going to increase the value of your property—I am not allowed to make you an offer for it without disclosing that information.” In the same way, there’s a verse in Genesis 2 that says gold is very good. This is one reason that gold became a method of monetization. On its own, it has no intrinsic value. Yet we've interpreted the scriptures in a way that makes gold valuable to us. [25:50] “It’s just that from time immemorial, people read that God said gold is good.” Rabbi Daniel Lapin also points out that when God says it’s not good to be alone, it is not simply regarding marital prospects, like Adam and Eve. It also explains the human need for connection—it is not good to be solitary. Thou Shall Prosper (and Be Happy) [27:59] “Many people say money doesn’t make you happy. And, you know, that is a mistake. It’s like saying a car doesn’t drive you anywhere. Well, yeah, it doesn’t. You’ve got to put gasoline in it, you’ve got to put a driver behind the wheel, but yes, with those provisos a car absolutely does get you places. There are certain provisos with respect to money as well, and with those provisos in place, money makes you very, very, very happy. "And the chief, and most important, of those

Right now, you have a fantastic opportunity to use whole life insurance as a place to store cash, build capital reserves, get better than bank rates on savings, AND the ability to earn never-ending compound interest, even WHILE you’re using the same money for something else. And you don’t have to qualify to access your capital. You can thank the 7702 Plan for that. https://www.youtube.com/watch?v=7lMnZARrqys But is this long-time financial bunker of the wealthy about to become an obsolete vintage classic? The recent spending bill Trump signed into law went into effect on January 1, 2021. As a result, we'll be seeing some critical changes to the IRS code that has made Privatized Banking such a powerful opportunity. There’s still much to be determined, but today, we’re looking at tax code changes and how they affect you. So if you want to find out what these changes mean for your ability to get the profound guarantees and wealth-building strategy of Privatized Banking… tune in below! Table of contentsWhat is the 7702 Rule?What is a MEC?What's Changing with 7702 Plans?MEC QualificationsChanges in GuaranteesThe Impact of the 7702 Plan Changes7702 Plan Changes and MECSDid the 7702 Plan Change Destroy Privatized Banking?Book A Strategy Call What is the 7702 Rule? In short, this is the part of the tax code that enables Privatized Banking strategies with life insurance. The way life insurance has been defined in the past, according to the Federal Government, offers many tax advantages. Tax-deferred growth, which can sometimes be experienced tax-free if used properly,Tax-free policy loans,And an income-tax free death benefit. Because of these tax advantages, there is a provision that prevents whole life insurance from being abused. If too much premium is funneled in too quickly through Paid-Up Additions, a policy can become a modified endowment contract (MEC). What is a MEC? Up until the 80s, people were abusing the benefits of life insurance by purchasing a small face value, funneling in extra premium, and calling it life insurance. Then, they were reaping all the tax benefits. In 1984, the government put a stop to that by placing limits on over-funded policies. While still possible to do, once a policy becomes a MEC, it no longer carries the same tax advantages. The trick to Privatized Banking is to design policies with as much premium as possible, without a policy becoming a MEC. That way, you can get as much cash value as possible, while still reaping the benefits of tax advantages. What's Changing with 7702 Plans? The bill, signed in December, went into effect in January. The 5,593 page document has taken time to wade through, but here's what we now know. Regulations for what constituted a MEC are changing. MEC Qualifications Prior to this bill, a life insurance policy had to pass something called a 7-pay test to qualify. The test determines how quickly a policy could be considered "paid-up," or fully funded. If your policy was paid-up within the first seven years of the policy, it would fail the test and become a MEC. Now, the MEC test will be based on a floating rate relative to the Prime rate. Changes in Guarantees One of the greatest strengths of a life insurance policy is certainty: there are guarantees built into the policy that keep your money secure—and growing. Previously, the minimum guaranteed interest rate on policy growth was 4%, however the government lowered that rate to 2%. However, it's important to note that insurance companies have been successfully navigating a low-interest rate environment for a long time. And just because the floor has lowered does not mean rates can't be higher. The Impact of the 7702 Plan Changes While these changes will affect policies going forward, it's important to note that any policies currently in-force will not change. Life insurance is contractual, and companies are required to uphold current contracts. New policies, both whole life and universal life, will be affected. However, we see this as a positive change overall. Low bond yields overwhelmed insurance companies as they worked to meet their contractual obligations. This new minimum will allow insurance companies to continue to meet their guarantees in this low-interest-rate environment. It's important that life insurance companies maintain their longevity and integrity, and the returns were almost too good for how low bond yields were in 2020. We want mutual companies to succeed, because it allows our policies to succeed, too. Remember, mutual insurance companies share profits with policy owners—if yields go up, so do dividends. The lower guarantee threshold allows companies to stay afloat in leaner times. 7702 Plan Changes and MECS One of the other powerful side effects of lower interest rates is that you can funnel in more premium dollars per death benefit without a policy becoming a MEC. In the long run, this can improve compounding, and in the early year

If you want to achieve the impossible, connect with the most powerful people in the world, achieve the next level in your business, strengthen your relationships, lead your community, and make an impact… listen in, because we're talking with Steve Sims. https://www.youtube.com/watch?v=oHXpuecDrjM Quoted as “The Real Life Wizard of Oz" by Forbes and Entrepreneur Magazine, Steve Sims is the best-selling Author of BLUEFISHING—The Art of Making Things Happen, a sought-after coach, and a speaker at a variety of networks, groups and associations, as well as the Pentagon and Harvard—twice! So if you want to transform your life, attract influencers and high net worth clients… tune in below! Table of contentsSteve SimsThe Number One Mindset Tip“You Are the Room You’re In”How to GrowEntering with a SolutionSteve Sims' Millionaire PartiesA Note to EntrepreneursLinks MentionedBook A Strategy Call Steve Sims Steve Sims is a master at helping people achieve the impossible with the most powerful people in the world. Or, if you ask him, he’d say he’s good at achieving the stupid, or the unexplained. That’s because, as Steve shares, once you label something as impossible, you’ve created a mental barrier for yourself. So if one thing is clear, Steve knows how to transcend the unthinkable, and impact the world. Steve has had many paths in life, all of which hae led him to where he is now. For the last 25 years, he's been in what is technically the concierge and spa business. In his own words: [2:27] “One of the famous stories everyone knows was I had a client who wanted to have a meal in Italy, and he wanted it to be unforgettable. And so I closed down the Academia, the Galleria in Florence, that houses Michel Angelo’s David. Set up a table of six at the feet of David. And halfway through the pasta I had Andrea Bocelli come in and serenade them. And so I’m basically the Make-A-Wish foundation for people with really, really, really big checkbooks.” Now, Steve acts as a mindset coach to help people get the clients that they deserve and want, rather than the clients they get. The Number One Mindset Tip When asked what his number one mindset tip is, Steve answered to not identify the problem. Which at first may seem completely counterintuitive. That is because in his experience, people spend the bulk of their energy telling you why they can’t do something. Either they don’t have the money, or the time, or the resources. The trick is to shift to how you can do something. The answer may be to set aside thirty minutes a day to reach your goal, or write grants to fund your project, or build more cash flow with a side hustle. Maybe, the solutions are far more creative than that, as Steve Sims shares with us in the interview. There’s an infinite number of solutions for an infinite amount of ideas—it just takes work and a vision. As Steve says: [5:02] “Have you ever noticed that when you get into a room full of entrepreneurs, you’re at home?” That’s because the entrepreneurial mindset is energizing—it’s about innovation, creativity, and finding solutions. It’s the exact opposite of the—"Here’s why I can’t”—mindset. “You Are the Room You’re In” You’ve likely heard the statement before—you’re a combination of the five people you spend the most time with. One of Steve Sims' strategies, regardless of his position, has been to surround himself with wealthy people. This could be people of intellectual wealth or monetary wealth. This strategy has allowed him to grow, and to be the person with all the solutions, instantly making him one of the most valuable assets in a room of wealthy people. How to Grow [10:38] “Sometimes the greatest growth comes from the most devastating problems and mistakes and issues." Later in our conversation, Steve shares a personal story of how he was flown to China for work, then fired. What seemed like a dark situation turned out to be a phenomenal opportunity that led him to being a bouncer and making connections with some of the most affluent customers in the establishment. This growth was fueled by the idea that he could not remain stagnant. He is always seeking opportunities and solutions, so that he can becomes a better version of himself each day. [15:02] “I say, ‘If I don’t try to get there, I’m going to stay here.’ Whoa. I don’t want to be me, even today. You know, I live well, and I’m absolutely fine, but I don’t want to be me this time next year. And I remember someone saying to me the definition of Hell is to have met the man you could have been.” Entering with a Solution Steve Sims will tell you, he’s not a networker in the typical sense. He’s not about the watercooler talk or casual conversation, he’s all about solutions. That’s how he made some of his greatest connections—he didn’t enter a conversation until he had a solution to present. Part of being the solution requires listening and paying attention—you must understand the problems people are facing, so you can po

Americans are saving more money than ever, yet interest rates are at an all-time low. If you're looking for the best place to save money, it might be time to stop saving with banks. https://www.youtube.com/watch?v=dl02XkqwwDg A recent CNBC article states: "In the midst of the coronavirus crisis, many Americans are spending less and saving more. At the same time, banks are paying next to nothing on those deposits." Are you, too, looking for the best place to keep savings but want to make sure you’re doing the most with your money? Today, we’re talking about this unspoken challenge from a fresh lens. So if you want to learn about one of the best places to save money, so you don’t have to give up returns or resort to high risk in search of them… tune in below! Table of contentsWhy More People are SavingInterest Rates and the Federal Reserve Decline of Customer ServiceBank Accounts and LendingTraditional and Alternative Savings Options ComparedWhere Is the Best Place to Save Money?Whole Life Insurance: Emergency Fund and Alternative High-Yield Savings AccountWhy isn’t it Mainstream?Common Savings Mistakes to AvoidBottom Line Why More People are Saving Americans are saving more money than ever, yet bank savings rates are at an all-time low. So, how does a scenario like this happen? We think primarily, COVID-19 has been an eye-opener for the world. On one hand, workers who were affected by job closures have likely realised that they didn’t have enough money saved to fall back on. While a tough lesson to learn, the fact that Americans have been successfully saving more money gives us hope. After all, having money saved is what enables you to weather economic storms (and seize opportunities when things are going well). On the other hand, business closures meant a lack of things to do. Movie theaters, aquariums, museums, restaurants, and shops all closed. Pretty much all indoor (and many outdoor) businesses had to shut down for a good portion of the year. This also means that many families turned to other alternatives for entertainment, in other words, free. Hiking, swimming, and being outdoors became more popular. Americans started saving more money by default because so many businesses put a halt to operations. So not only are people choosing to create better savings habits, they’re also creating better spending habits. Now that you have the money, it’s time to ask—where is the best place to put your money? Interest Rates and the Federal Reserve A tumultuous economy means changing interest rates. The Federal Reserve controls interest rates, and in order to boost the economy, they’ve lowered rates dramatically, almost to zero. Meanwhile, they’ve also pumped trillions of dollars into the banks. Now, banks are at a surplus - meaning that overnight lending between banks is down, as are savings rates. In the past, banks would use high-interest rates and “prizes” to incentivize opening accounts at their establishment, appealing to people who were looking for the best places to save money. Now, with a surplus, there’s no need for banks to offer this incentive. High savings rates are the bank's way of broadcasting that they want your money, and they’re willing to offer something in return. Now, banks can lower these incentives almost to zero, because they aren’t relying on that money to come in. We’re seeing a mismatch in supply and demand. While there’s a high demand for a safe place to store liquid cash, where it will also grow, there’s relatively low demand from banks for new accounts. Decline of Customer Service One unfortunate consequence of this low-interest-rate market is a decline in customer service. Because banks do not need new accounts, they are not incentivising new customers, which also means that there is no incentive for them to provide better customer service. Combine that with a high demand for saving and a pandemic, and the issue worsens. Lobbies are closed, drive-through lanes are cramped, and phone service is difficult. Bank Accounts and Lending Under normal circumstances, banks have higher interest rates on savings accounts and money market accounts because they want your money. Ultimately, because that’s how they make theirs. You see, banks don’t lend their own money to their customers. They leverage their customers’ money - YOUR money. For example, if you deposit $100,000 into a savings account, making 0.05%, you’ll earn $50 on that deposit. Then, say that the bank agrees to loan that same $100,000 to someone else for their mortgage. If they offer an interest rate of 3%, that’s $3,000 of interest. So the bank is making 60 times what they’re paying you in interest. In other words, for a $50 investment in your savings account, they’ve made $3,000. We’re not arguing that banks shouldn’t make a profit. However, we are saying that this is the reason for low interest rate markets - to bolster banks and get money recirculating. Yet what if you could store your money elsewhere, earn a b

There is a major problem in the world today: it’s not people disagreeing with one another… it’s that they cannot disagree agreeably, civilly, and most importantly, persuasively! Here, at the end of a turned upside-down year, the gift we need most is a solution. That's where The Go-Giver Influencer comes in. https://www.youtube.com/watch?v=wtLxPvRHxZ4 In this interview, we’re talking with Bob Burg, co-author of The Go-Giver Influencer. So if you want a way to find common ground where there appears to be only irreconcilable conflict, and get the secret to achieving your goals, this is the answer you’re looking for… tune in below! Table of contentsWho “The Go-Giver: Influencer” is ForWhat is Influence?Healing Political RiftsThe 5 Secrets of Genuine Influence1. Master Your Emotions2. Step Into the Other Person's Shoes3. Set the Proper Frame4. Communicate with Tact and Empathy5. Let Go of Having to Be RightAbout Bob Burg Who “The Go-Giver: Influencer” is For Bob Burg, along with his co-writer John Mann, has now written four books about the “Go-Giver” parable. The first story is about the seemingly counterintuitive steps to success that can make a vast difference in your life. The Go-Giver Influencer is the second book which tells yet another parable of success, and important lessons about relationships. [5:09] “John and I… really wanted to take [the concept of] influence to a deeper level because of its importance. Now, in both of the other parables… influence was certainly a part of it. It was even law number three—the law of influence in The Go-Giver. So we have to really look at, ‘What is influence, and why is it important?’” The answer is people skills. Talent can only take you so far in business and in life. And of course, hard work keeps your talent honed. Yet without people skills, you’ll have a hard time making actual progress toward your goals. Everything we do in life is filtered through the relationships we have with other people. That is where The Go-Giver Influencer comes into play. What is Influence? [8:18] “I think that’s the essence of influence, it’s pull. Pull as opposed to push, right? As in, how far can you push a rope? And the answer is not very fast or effectively. Influencers don’t push… their will on others. They don’t try to push their ideas on others.” You can’t push your way to what you want—it won’t end well for anyone, nor is it sustainable. Influence is the art of pulling, or better yet attracting, people. In fact, the best influencers do this genuinely, because they understand that there’s power behind being inviting. [10:20] “[Genuine influencers] will ask themselves questions. How does what I’m asking this person to do… align with their goals? With their needs, with their wants, their desires?... How am I helping them overcome a challenge...Now, when we ask ourselves these questions thoughtfully, intelligently, genuinely, authentically—again, not as a way to manipulate another human being to our will, but as a way of building [inaudible]---[we earn] that person’s commitment, as opposed to trying to depend on some type of compliance.” Healing Political Rifts 2020 has been a tough, sometimes contentious year, and the rift between political affiliations has only grown. We’ve been most concerned by the conversations across political divides, which have put a strain on relationships of all types. And we’re even seeing a shift in the conversation. Between parties, we used to see, “I’m right, you’re wrong” discussions. Though not the healthiest outlook, there was still discussion. Now, the conversation is, “I’m right, you’re evil.” [18:44] “This is a totally different frame, and one which makes it nearly impossible to engage. Because you’re not going to engage with evil. Evil is incorrigible. There’s nothing you can do with evil. So because of that, what people have done on both sides is hunker down, listening only to the information that supports what they already believe.” This creates rifts, and healthy communication can’t take root in this type of environment. Healing these rifts and re-opening conversation begins with a willingness to engage. The second step is to try to understand where the other person is coming from, and why. This doesn’t mean you have to agree. Yet, you must attempt to understand those thought processes. The 5 Secrets of Genuine Influence 1. Master Your Emotions [22:09] “It’s only when we’re in control of our own emotions that we’re even in a position to take a potentially negative situation or person and turn it into a win for everyone involved. The challenge is, as human beings we’re emotional… Now, what we’re not saying is to deny your emotions…What we can say is, make sure you’re the master of your emotions and they’re not the master of you.” 2. Step Into the Other Person's Shoes It’s easier said than done. [23:10] “The fact is, most of us don’t have the same size feet. So we literally can’t step into another person’s shoes. More importantly,

If you’re planning to leave an inheritance to your children, there’s a new rule in the Secure Act that will probably cause your kids to pay more taxes if you pass on your retirement plan. https://www.youtube.com/watch?v=3yQ22dT2H6I Today, we’re discussing how the Secure Act, passed in 2019, affects your retirement plans and may front-load taxes to kids who inherit these plans. If you want to know what the Secure Act is, how it applies to you, and what you can do about it… tune in below! Table of contentsThe Key Takeaways of the Secure ActContributionsPart-time Workers Get 401(k) OptionsTax BreaksParental AidThe Secure Act and IRAsHow the Secure Act Impacts InheritanceMaximize Your InheritanceBook A Strategy Call If you have an IRA, the following changes to the tax laws are important for you to know. These changes can affect how your inheritance is distributed from an IRA, making it prudent to reassess your financial strategy. We want to help you continue to maximize your retirement and still leave an inheritance, should you choose. Staying on top of the changes and making some smart pivots can save you and your family on heavy tax penalties down the road. We have designed this article as an overview of the changes so that you can meet with your CPA and financial advisors with confidence. It’s always crucial to be informed, yet work with a professional on the specifics. The Key Takeaways of the Secure Act Before we can dive too deep into the impact of these changes, and what you can do differently, it’s important to look at what those changes are. Contributions Previously, you could make contributions to your traditional IRA until age 70 ½. Now, you can make those contributions indefinitely. This also means that you don’t have to take your required minimum distributions (RMDs) until age 72. The implications could be an increase in taxes, for two reasons: Your account has more time to grow. While growth is good, this also raises your tax liability.That two-year window (or more) gives room for tax brackets to change, and it’s more likely that taxes will increase than decrease. So if you’re taking a higher distribution, and the taxes increase, the tax hit could feel even greater. Part-time Workers Get 401(k) Options In the past, part-time workers were not eligible for 401(k) plans. Now, the Secure Act has created a provision for long-term part-timers to make contributions to a 401(k). This broadens the scope of who is eligible for government-sponsored retirement plans, which could entice more people to participate. Those who are eligible? Anyone who works 1,000 hours in a year, or who has worked 500 hours a year for three consecutive years. Tax Breaks The Secure Act also rolled in some tax breaks, many specifically for businesses. One of the bigger breaks is for businesses who set up automatic enrollments for employees. This means that rather than opting into a 401(k) plan, employees may have to opt-out. Parental Aid Along with other changes, a provision was added that will allow parents to withdraw $5,000 without penalties, to help cover birth and adoption fees. This can help offset some of the typical costs of new parenthood. This is significant, because in the past any withdrawals from a qualified plan before a certain age would incur a penalty. Similarly, parents will now be able to withdraw up to $10,000 annually without penalty from a 529 plan to repay student loans. The Secure Act and IRAs One of the reasons provided for the change in required minimum distributions, is that people are living longer. Often, people are working longer, too. On one hand, this allows the money more time to grow, and helps it go farther in retirement. On the other hand, it also raises questions about the tax implications in the long-run. We think one of the most prudent questions to ask yourself is: “If I’m not paying this tax on my income today, what will that tax implication be in the future?” Because unfortunately, tax-deferment isn’t a free pass. While there are some strategies in which a deferral makes sense, there are other factors to consider, such as: Will your income increase over time?Will taxes increase over time?Can you afford to live your current lifestyle on the interest of your IRA or 401(k)?How much do you want to leave to your heirs? (And how much will be taxed?) How the Secure Act Impacts Inheritance With an inherited IRA, we can see one of the biggest changes. In the past, a non-spousal inheritance of an IRA could be taken in small distributions over the beneficiary’s lifetime. This was referred to as a stretch IRA. Now, that inheritance must be taken in full over 10 years. According to Investopedia, this will create an additional $15.7 billion of tax revenue for the government. Our understanding is that you can either take these distributions incrementally over ten years, or in a lump sum at the beginning or end of the 10-year window. However, this is taxed as ordinary income. So regardless of how you take

Curious about how investing in raw land could help you accomplish your financial goals? In this episode, we’re talking with Mark Podolsky, The Land Geek, the raw land investor who’s completed over 5500 land deals, with an average ROI of over 300% on cash flips, and over 1,000% on the deals he sells with financing terms. https://www.youtube.com/watch?v=AMB7SWZLyn8 So if you want to learn from a raw land investor who’s replaced his income and helped many other people do the same … tune in below! Table of contentsHow Do You Invest in Raw Land?Doing Your Due Diligence with Raw LandWhat Happens Next?How to Make Your Offer IrresistibleRaw Land Creates ValueThe Risks of Raw Land InvestmentsPrivatized Banking and Raw LandAbout Mark PodolskyLinks How Do You Invest in Raw Land? In our interview, Mark starts us out with a case study, using Bruce as a hypothetical. In this instance, Bruce lives in St. Louis, yet owns 10 acres of land in Texas. He also owes $200 of back taxes. He’s advertising two things here: no emotional attachment to that raw land, and there’s some sort of financial distress. You, as the raw land investor, would look at the comparable sales on his 10-acre parcel for the last 12-18 months. Then, you take the lowest comp divided by four, giving you what Warren Buffett would call a 300% margin of safety. Then you’ll send an actual offer. Pretend the lowest comp is $10,000. You would send an offer of $2,500. Chances are, Bruce will accept the offer, because it’s better than nothing. In Mark’s case, 3 out of 5 people typically accept his offers. Then it’s time to do his due diligence. Doing Your Due Diligence with Raw Land When Mark Podolsky talks about due diligence, here’s what he means: Does “Bruce” still own the property?Are the back taxes only $200?What’s the ingress and egress?Are there any breaks in the title's chain?Are there liens or encumbrances?Is there legal access?What are the neighbors doing?How far is the property from other services?What are the roads like?What is compelling about the property? It’s crucial that before you make an investment on a property, you know all the important factors. You can also enlist help: Mark himself outsources this step to his team in the Philippines, because they are connected to an American title company. It’s not costly either. For larger investments, working with an American title company directly is beneficial. Or you can even outsource through Craigslist. Taking the time or spending the resources to vet your land thoroughly will pay off in the long run. What Happens Next? The trick to raw land investments, after you vet the property, is to sell in 30 days or fewer. Then, you can make it cash flow similarly to a rental property, and be ready to invest in the next plot of land. So who do you sell to? Fortunately, with raw land, you have built-in buyers: the neighbors. Intrinsically, the neighbors are going to have an interest in this land more than anyone else to start. They may want it to protect their privacy, or to build out their estate. Giving them the first pass can often have a huge payout. Should that not pan out, you have several other options to find buyers. Start with your buyer's list, then you can start looking online: CraigslistFacebook Marketplace (or buy/sell groups)Land sale websites How to Make Your Offer Irresistible How you package and sell the land makes the offer irresistible. You ask for a $2,500 down payment and recoup your investment. Then, Mark recommends this: a monthly payment of $449 over 84 months at 9% interest. This way, you have a onetime sale, earn your capital back, and then you have monthly cash flow without renters, renovations, or rehabs. Because you’re not dealing with tenants, you’re also exempt from Dodd Frank, RESPA, and the SAFE Act. [13:28] “The game we play is, can we create enough of these land notes, where our passive income exceeds our fixed expense, and now we’re working because we want to, not because we have to?” Raw Land Creates Value One of the many benefits to raw land investing is that it doesn’t just line your own pockets. You’re fulfilling the needs of the seller. In our case study, Bruce was looking for a way out—he wanted to be free of the land and get caught up on his taxes. Then, you have buyers with a need, so you’re also solving their problem. It’s a win for all sides. Nor can you forget about the county region. The county collects more tax revenue this way, so you’re helping to improve schools, hospitals, and county services as well. There’s value all the way down the line. The Risks of Raw Land Investments The first risk of investing in raw land is the environmental risk. Before buying any property, there’s another component to add to your “due diligence” list. Go to the epa.gov site to ensure you’re not buying a Superfund site. A Superfund site is a site that ensures that the company that pollutes the land is liable for cleaning it up. If you buy it, it does not make you liable, h

Most people never maximize their full financial potential. That means they don’t accumulate the assets they could, and what they do save and invest isn’t protected and gets eroded too quickly. Then they take distributions in a way that shrinks their income, and they’re always trying to outrun the fear of running out. https://www.youtube.com/watch?v=L2qIGF_hwn4 Sound too close for comfort? This doesn’t have to be you. We’re talking with another of our stellar advisors on The Money Advantage team, Scott McCright. You’ll hear the tenured experience he’s gained in over 27 years of working with clients, and his approach as an educator, strategist, and engineer. So, if one of your goals for the NEW YEAR is a fresh start financially, where you take ownership and lock in a plan you’re CONFIDENT will maximize your potential and do the most with your money… tune in below! Table of contentsIntroducing Scott McCrightDefining Financial FreedomStrategizing for Full Financial PotentialMindset MattersOpportunity CostReach Your Financial Potential with Privatized BankingBook A Strategy Call As we usher in this New Year, it’s time to think about your finances with fresh eyes. We recommend starting by zooming out: by looking at the big picture of your finances, you can maximize your lifestyle with efficiency. That means maximizing your income, your protection, your assets, and ultimately, realizing your full financial potential. To do that, you have to know how the pieces fit together. Today, we’re sharing with you a way to think differently. Introducing Scott McCright Scott is a member of the team here at The Money Advantage and offers a really valuable perspective to our clients. What we’ve seen time and time again is that he treats everyone as he would treat his friends. And that is so crucial to our mission here at The Money Advantage and treating finance like a team sport. After spending time in the Navy, Scott transitioned into the financial services world in 1993. He started first in insurance, and then moved to securities, when he had a realization. He was seeing time and time again that everyone was told to do exactly the same things. The advice wasn’t tailored for the individuals, and no one was really hitting it out of the park either. How could everyone expect to have different results when they were making the same mistakes? So he joined hands with other professionals, to see if there was a better way to help people. [7:25] “I’m a big believer in, ‘There’s not one specific product that’s going to get you where you want to go.’ It’s more in the how and the why you do things than it is the where.” Defining Financial Freedom The financial landscape has gone through many changes over the last few decades, though people can more or less agree on one thing: they are looking for financial freedom. We think one of the best places to start, as highlighted by Scott’s quote above, is figuring out your “how” and “why.” Get clear on what you want. What does financial freedom look like to you? What will you be able to do once you reach financial freedom, that you cannot do now? There are a few things that happen here when you get really clear on your vision. The first is, you can create a plan, or a strategy. If you’re working with a team of advisors, bringing your ideas to the table can be a great asset to the process. The next thing that happens is, you create a sort of discipline, because you’ve pinpointed the future that you want for yourself. You’re motivated, rather than defeated by what you don’t have. This combination pulls you out of the narrow view and allows you to think about your big picture finances. It’s easier to create long-term strategies to reach your full financial potential when you’re working toward specific dreams. This is the time to make sure that all the pieces and parts of your financial life are going to work together to get you there. Strategizing for Full Financial Potential [10:03] “I think everybody always says taxes, well—taxes are a big thing... I’m a big believer in thinking, well okay, if I’m going to climb the mountain, I’ve got to have a way to get back down. People don’t plan for that, they plan on going up, but they don’t plan on coming down. And that’s where people fail.” Strategy is an important part of your financial life. From income, to taxes, to acquiring assets—you must know where you’re going. Or to pull from Steve’s analogy, you have to know how to go up the mountain and how to come back down. It’s easy, too, to put it all on paper and know what you’ll do over the next 30 years. Except life happens over that time, and you must be flexible. Scott says: [11:09] “I always tell people, you know, life gets in the way over those next 30 years, so don’t get discouraged if the plan has to change slightly. But you do have to have goals and aspirations and some discipline to get where you want to go. And that is why working with a financial professional is like the checkup, going to the d

Considering Infinite Banking, or IBC, but still a little skeptical? https://youtu.be/UNw8fUMhiNU In this episode, we’re talking with Dr. Robert P. Murphy, a free-market economist, who has testified before Congress on energy markets and monetary policy and has given many interviews on TV and radio. He is the author of hundreds of articles and several books on economic topics created for the layperson, including one of his most recent: The Case for IBC. So if you want to hear from a highly respected economist perspective just why Infinite Banking works … tune in below! In this episode on The Case for IBC, you’ll hear: How the Nelson Nash Institute came to be Common misconceptions about whole life insurance What Dave Ramsey gets wrong about “buy term, invest the difference” Why IBC is about more than just the rate of return The future of dividend rates And more! Table of contentsIn this episode on The Case for IBC, you’ll hear:The Nelson Nash InstituteThe Case for IBCOther Common Objections of IBCThe Future of Dividend RatesClosing RemarksOrganize Your Finances or Get Life Insurance TodayThanks for Tuning In! The Nelson Nash Institute [7:00] “Carlos and I wrote a book called, How Privatized Banking Really Works.... That phrase [Privatized Banking] was actually Carlos, his idea.” [8:23] “If you’re doing IBC, you’re not contributing to the problem, because the Austrian view is commercial banking that expands and contracts the credit supply. So if you’re...financing your purchases via policy loans, then you’re not contributing to the boom/bust cycle in the Austrian view.” [8:58] “...Carlos and I were going around, giving presentations to the public and life insurance agents would hire us often to come do that, you know, presumably knowing that they were going to be able to sell more if we came and talked to a crowd about...the big picture here... And so over time we just realized this isn’t going to work. We need a more formal way of both, you know, training agents to make sure they know what Nelson’s principles are and how to design these policies correctly, but also so we feel comfortable… [putting] the public into the hands of certain life insurance professionals… So that was the birth of the IBC practitioners program.” You can find out more about Nelson Nash here: Nelson Nash: The Father of Infinite Banking (IBC) The Case for IBC [13:30] “... often this concept clicks with [business owners] sooner than with other people, is [because of] the importance of cash flow. So for like a salaried employee, you know, they kind of know every month how much money is coming in the door, and then they have their bills. And they’ve just got to make sure… [they] spend less each month than what’s coming in.” [15:20] "I came across a pretty sophisticated critique of IBC a while ago, from another economist, and he said, 'You know, this concept actually makes sense. What they’re really doing here is using an asset as collateral to then borrow money from some other institution to finance their cash flow. And they happen to be using life insurance or using...the cash surrender value, and a dividend paying whole life insurance is the collateral... When in principle you could take your house, as long as you have a bunch of equity, and go to a commercial bank and take out either a home equity loan or a HELOC.'" "And so... the concept the economist was arguing was, 'It has nothing to do with life insurance, and the only reason they’re doing it with life insurance is to get the commission.'" "So I go through and explain why, actually, that’s a perfect illustration of why Nelson was right to pick this vehicle or platform of a dividend paying whole life policy." Other Common Objections of IBC [19:54] “So another common one is… 'Oh everyone knows a whole life policy is a terrible place to put your money, you should buy term and invest the difference.’” [20:47] “The way we put it is that the whole life insurance policies are the platform upon which IBC is implemented. So yeah, if people don’t want their foundation, then they’re going to be hesitant to step onto it.” [22:06] “It’s going to be clear, we’re not arguing that you should never get a term policy... but virtually, you know, they are trying to make the other case saying that you should never get a whole life policy, it is always advantageous to buy term invest the difference...So the big issue is, it’s an apples to oranges comparison.” The Future of Dividend Rates [29:40] "My prediction is that the Feds are going to keep the interest rates low until the point at which the dollar starts significantly slipping against other currencies. And/or domestically, prices start rising such that...it’s too painful and they have to start ratcheting up rates to stem that." [30:20] “They can’t just keep interest rates at one percent, if price inflation is running at eight percent. They’d have to raise rates just like they did in the

Want to optimize your money and maximize your wealth and income for life, and curious about how we can help? Been listening for a while and want to learn more about our company and what we can do for you? Today, we're taking you behind the scenes of The Money Advantage. https://www.youtube.com/watch?v=pS5o1gL_vzE So, if you want to get to know us, what we do, and why we do this work … tune in below! Table of contents“Why” The Money AdvantageRachel Marshall Bruce WehnerWhat is The Money Advantage Philosophy?Our 9-Step Signature ProcessFoundationProtectionIncreaseFinance is a Team SportBook A Strategy Call “Why” The Money Advantage Today, we’re sharing more about who we are and why we do what we do. First and foremost, the Money Advantage exists to help wealth creators build financial freedom. There are three key components to this wealth building: Cashflow StrategiesPrivatized BankingAlternative investments We’re your team of financial architects, and our goal is to help you get into a position where you never run out of money. What we so often see is people who make a lot of money, yet aren’t being as efficient as possible. This can create a lot of financial stress. Money is emotional, and that causes people to hold their financial state close to their chest. Yet by not talking about money, we do ourselves a disservice. So we also look for ways to help people improve their money mindset. Rachel Marshall Rachel Marshall is the co-host of The Money Advantage Podcast, co-founder of The Money Advantage, and Chief Financial Educator. The education that she provides, through podcasts and articles and videos, helps you understand your financial life so you can choose a way forward. Her role is to look for any way possible to help you understand how to keep control of your financial life. Rachel has been a lifelong teacher—helping others learn the concepts she was learning herself. She looks most forward to seeing that flash of inspiration and awareness when someone understands something they didn’t know before. Nine years ago, Rachel went into this business with her husband, Lucas. It stemmed from a desire to build their own financial freedom. And what they realized was missing, at the time, was liquidity. After recognizing the need of wealth creators to maximize cash flow and have access to capital, they recognized the tremendous value of Privatized Banking and began their own policy. Then, a near-death experience truly opened her eyes to the importance of the death benefit and helping others build the greatest legacy possible. Bruce Wehner Bruce Wehner is the Chief Cash Flow Strategist & Lead Advisor at The Money Advantage. Growing up in the 60s' and 70s opened Bruce’s eyes to the financial struggles of business owners like his father. After Nixon removed the gold standard, massive inflation made it difficult for businesses to stay afloat, and interest rates were continuing to spike year after year. This got him thinking about personal finance, and how businesses worked. He then began a teaching career of 17 years, in which he experimented with entrepreneurial pursuits. It was at this time that he became involved in the insurance business and real estate. Eventually, he landed in St. Louis, where he remains today, and works with e3 Consultants Group and The Money Advantage. Bruce is also a certified Nelson Nash practitioner, which means he focuses first on guarantees. Wealth building is first about the money you protect, not hitting a home run. So he helps people create financial teams and protect more of their wealth through guarantees. What is The Money Advantage Philosophy? The financial status quo is to build the biggest pile of money possible and then live off of that money in the future. What happens too often with this strategy, is that the money is in the control of everyone else--investment managers, banks, and mortgage companies. This typical philosophy takes the control out of the individual’s hands. Then, that money is subject to future taxes, which are unknowable. Yet taxes are likely to increase, not decrease. We believe that cash flow is the way to build time and money freedom. This is the money that you get to keep from day to day. This can be through regular income, business revenue, or from cash flowing alternative investments. The freedom that comes from cash flow then gives you the freedom to choose what you do with your time. We don’t believe in the typical philosophy of retirement, where you build a pile of cash and then stop working. We would much rather see people enjoy their lives from day one and continue to thrive well into their older age through fulfilling wealth creation. And that looks like gaining control. Our 9-Step Signature Process This is the exact process that we use to help people like you master financial control and freedom. This will help you fulfill your money’s highest purpose, so you can live a life of the highest significance. We split these steps into t

Now and then, you have the chance to meet extraordinary people and learn more from their story than you ever thought possible. This conversation with Steven Sashen of Xero Shoes is one of those opportunities! https://youtu.be/ZxaGb90SUtY In this episode, we’re talking with Steven Sashen about shoes, speed, and success. He’s one of the fastest men over 55 in the country, co-founder of Xero Shoes that’s creating not only a brand, but a movement, he’s also turned down a $400K funding offer on Shark Tank. So if you want to learn from a successful entrepreneur, so you can build a life and business you love … tune in below! Table of contentsIn the Business of Making Xero ShoesFrom DIY to Worldwide RecognitionTurning Down Shark TankXero Shoes: A Fast-Moving CompanyChance vs. ControlTaking Responsibility of Your FinanceCash Flow in BusinessXero ShoesAbout Steven Sashen We believe that his ability to create a community and a movement is something that you can benefit from as business owners and entrepreneurs. No matter where you’re at in the journey, we think you’ll find something valuable in this conversation with Steven Sashen. Enjoy the show notes below. In the Business of Making Xero Shoes When you think of how a business gets its start, you probably think of all the planning, designing, and prep work that goes into a brand. However, that’s not quite how things happened for Sashen. [3:27] “The way it actually happened is my favorite thing, which was a complete accident. So what happened was...a little over 13 years ago, I was 45, I got back into sprinting after a 30-year break, which I don’t really recommend. I was getting injured constantly for like two years. And finally, a friend of mine, who’s like a world champion runner...said, ‘Try running barefoot and see if you learn anything about why you might be getting injured.’” This planted the seed, and Steven discovered that running barefoot allowed him to correct his movements with more ease and fluidity. From DIY to Worldwide Recognition When Steven Sashen finally hit his stride, everything changed. That’s when he knew he must lock-in the benefits of this natural movement. He had heard of natives in Mexico who ran with sandals made from scraps of tire. So he created his own version. With some rubber from a shoe repair shop and cords from Home Depot, he created what we could consider his first prototype. Here and there, friends would request their own. Then one day, he was approached with the opportunity that started it all. A barefoot running coach was writing a book, and said that if Sashen treated this hobby like a business and made a website, he’d feature it in the book. In the following three and a half years, Xero Shoes became a DIY sandal-kit company. Now, Xero Shoes sells a complete line of casual and performance shoes, boots, and sandals. Turning Down Shark Tank Early on, Xero Shoes appeared on Shark Tank. And though they were offered $400,000 Sashen turned the money down. This sparked a lot of discussion on whether he made the right decision. [12:38] “People kept telling us all along that we should be on the show, we didn’t even know what they were talking about. And then we found the show.” Steven Sashen realized that, were they to get on Shark Tank, regardless of the outcome, it would be free exposure to millions of people. [13:37] “The thing that was really valuable is that once they told us they wanted us on the show, it really made us focus on who were are, what we did, and what we wanted.” [15:40] "So the key moment though, was that thing with Kevin, where he offered us 400 grand for half the company, [and] we were offering 8% of the company. We had done a lot of research about valuations of footwear brands. And so we knew what the range for yes and no was, we were very negotiable. We just didn’t get that far, and so it was a non-starter.” Xero Shoes: A Fast-Moving Company [20:12] “You’re constantly running two races when you’re running a business. One is a speed race: velocity is important. The more you can do, the better. The faster, the better. At the same time, there’s certain things you can’t rush. And luckily, my wife and I have different skillsets and mindsets. So I’m the sprinter. She’s the detail-oriented, long-distance person.” [20:48] “The line that I have is that all businesses rise to the neuroses of their founders.” Essentially, combining skill sets in a business is the key to success. The more you can balance out, the greater accomplishments you can achieve together. This is the model that Steven and Lena have operated under, and found outstanding success. Chance vs. Control In business, Steven Sashen shares some interesting insight. He relates it back to barefoot running, where he had to analyze the information his body was giving him and make corrections, all in a split second. [28:02] “It’s a weird thing, because you’re going to take in all that information and you’re going to make a decision, and you’ll either be right or

Want to shelter your assets from the prying eyes of the IRS, claims of creditors, or the public? Can creditors take life insurance proceeds after death? In many cases, the answer depends on how your policy is structured. https://youtu.be/yu7D09hTe3M Cash surrender value and life insurance proceeds are exempt from creditors in most states. In this episode, we’re talking about the privacy and creditor protection of life insurance. So, if you want to know how to protect your wealth from future risk of creditors taking life insurance proceeds through litigation, civil suits, bankruptcy, or even divorce … tune in below! Table of contentsWhat You’ll LearnWhere Creditor Protection of Life Insurance Fits In The Bigger PicturePrivacy and Protection LiabilityLiability Insurance and AutoThe Privacy of a Life Insurance PolicyCreditor Protection of Life Insurance Cash ValueFederal LawHow Creditor Protection of Life Insurance Policies Varies by StateWhat States Protect Life Insurance Cash Value from Creditors?When Life Insurance Exemptions Don’t ApplyOther Types of Asset ProtectionFor More Information on Protection From the Claims of CreditorsBook A Strategy CallFAQs About Life Insurance and Creditor ProtectionCan creditors take life insurance proceeds after someone dies?Does life insurance have to be used to pay the deceased’s debts?Is life insurance cash value protected from creditors?Can debt collectors take life insurance money from beneficiaries?Do federal laws protect life insurance policies?Sources What You’ll Learn Whether creditors can take life insurance proceeds after a policyholder’s death How life insurance cash value is protected from creditors in many states Why some protections vary depending on state vs. federal law When life insurance may not be safe from creditor claims or bankruptcy How privacy features in whole life insurance work in your favor Where life insurance fits into a broader asset protection strategy Where Creditor Protection of Life Insurance Fits In The Bigger Picture Life Insurance is just one step in the greater Cash Flow System. But where does it stand when it comes to asset protection? Can creditors take life insurance proceeds after death, or does this financial tool offer legal safeguards? While it’s nestled into Stage 2, Protection, it also improves everything else around it. Infinite Banking helps you keep more of the money you make in Stage 1, amplify your cash-flowing asset strategy in Stage 3, and accelerate your Time and Money Freedom. Privacy and Protection Liability Privacy and protection liability are never something you need until you actually need them. In other words, most of us operate as if “it won’t happen to us,” and when an event occurs, it’s too late to protect against it. This is where life insurance can quietly offer protection from legal claims or judgments that threaten your financial security. For protection from creditors and protection in bankruptcy, it’s not the wealthiest who need protection the most, although they’re the most likely to protect their wealth. The people who should be most interested in asset protection are those who have fewer assets and cannot afford to lose them. Understanding how life insurance protects against creditor claims is essential for anyone looking to keep their assets intact under pressure. Asset protection isn’t the most exciting topic, yet it is something that the wealthy think about. Success leaves clues–follow these clues that the wealthy leave and see how they grow and protect their assets. Liability Insurance and Auto A Property and Casualty insurance agent once said, “People don’t think about liability until after the fact”. So much so that many people think that their auto insurance covers all liability. It doesn’t. So, if your dog bites somebody at the park and causes an injury that lands them in the hospital, those hospital bills can come back to you. If the bills are above your liability coverage, a creditor can take this debt and potentially use your assets to cover it. Small or random incidents like this can happen, and they do happen all the time. Then, because we don’t think we need protection from them, we don’t have it in our times of need. It’s one thing to have an emergency or opportunity fund; it’s another to have a protected asset like a whole life insurance policy to act as this fund that creditors cannot garnish or seize. That’s the key distinction: liability insurance covers specific risks, while life insurance offers broader, long-term asset protection that can’t be tapped by creditor claims in most states. The Privacy of a Life Insurance Policy Life insurance is an incredibly private asset, meaning no one can really see past that insurance barrier and know how much wealth you have. This level of life insurance privacy from creditors and outside parties is one of its most underrated benefits. Privacy, especially around finance, is a significant concern in our society. Privacy is a huge advantage of who

Should you be concerned about asset protection? What types of risk should you know about? What you don’t know about protecting your assets CAN hurt you. In this episode, we’re talking with Douglass Lodmell, one of the nation’s leading asset protection experts and founder of Lodmell & Lodmell about asset protection and how it works. https://youtu.be/d173g5beiU8 So if you want to learn about the keys to asset protection, why insurance isn’t enough, and how to protect real estate, other physical assets, securities, and liquid assets … tune in below! Table of contentsWhere Asset Protection Fits into Your Cashflow Creation SystemHow to Keep Your WealthWhat is Asset Protection?Life Insurance as Asset ProtectionLLCs and Limited Partnerships as Asset ProtectionSetting Up Your LLCMisconception of LLCsThe Next Level of Asset ProtectionAsset Protection TrustFraudulent TransferAbout Douglass LodmellContact Douglass LodmellFind Out Your Next Step to Time and Money Freedom Where Asset Protection Fits into Your Cashflow Creation System Protecting assets with legal planning will maximize your peace of mind. But it’s just one small step of a greater journey. That’s why we’ve put together the 3-step Entrepreneur’s Cash Flow System. The first step is keeping more of the money you make. This includes tax planning, debt restructuring, cash flow awareness, and restructuring your savings so you can access it as an emergency/opportunity fund. This step frees up and increases your cash flow, so you have more to save, and consequently, more to invest. Then, you’ll protect your money with savings, privatized banking and legal protection. This is where estate planning fits in. You’ll know that no matter what happens to you, your wishes will be carried out, your assets will remain intact, and your wisdom will empower generations after you. Finally, you’ll put your money to work and get it to make more by investing in cash-flowing assets to build time and money freedom and leave a rich legacy. How to Keep Your Wealth Once you’re wealthy, the trick is to stay wealthy. One of the number one reasons that a person's wealth comes crashing down is a lack of proper asset protection. Unlike other countries, the United States is very litigious. To put it bluntly, people don’t sue the poor, so you have additional risks to mitigate when you build wealth. Douglass Lodmell, of Lodmell & Lodmell, is one of the nation’s leading asset protection attorneys. His firm handles $4 billion worth of assets. He shares with us the pyramid of asset protection, and why it matters. What is Asset Protection? Asset protection comes in many forms. If you don’t have any assets, that’s asset protection. Similarly, having assets that are exempt from creditors acts as protection. For example, you could have a $15 million home in Texas, and $100 million in debt, and no one could touch your home because of Texas' homestead exemption. Another protected asset? Retirement funds, because under the ERISA (Employee Retirement Income Security Act), the government decided not to allow people to lose retirement money through lawsuits. Otherwise, the burden would be back on the government. True protection begins with a review of all your assets. Then you can identify what's exempt, and where to strategize. Asset protection strategies take your assets back off the table and away from creditors and lawsuits. Life Insurance as Asset Protection Life insurance is another asset that typically falls into the exempt category, however this varies from state to state. In some states, your entire policy could be exempt from creditors, while in other states, only a portion is exempt. When you’re looking to protect your life insurance, first you must look at your state. If you have 100% exemption, you don’t need to do anything else. If it’s not, then you look for other ways to protect it, either through holding companies or directly into asset protection stocks. LLCs and Limited Partnerships as Asset Protection Limited partnerships and LLCs have charging order protection. They protect assets because creditors cannot foreclose on a limited partnership and get the underlying asset. All they can get is a charge, which you can think of as a lien against the debtors interest in that limited partnership. This is the foundation of an asset protection strategy. Setting Up Your LLC When setting up your LLC, you must consider jurisdiction. If you do not establish your LLC in the jurisdiction where you’re investing in, it has no value. For example, you wouldn’t invest in California real estate, and then set up your LLC in Wyoming because you like the statute better. Otherwise, if you get into trouble in California, California law applies to your case. You’ll just end up paying more fees. LLC is great for most assets, especially real estate, which reduces your liability as a landlord and protects the value of a property. Your inside liability is protected to a certain amount through a

Are you considering whole life insurance and want to know which is better: Direct vs. non-direct recognition life insurance companies? What does it mean? Why does it matter? How does it impact your policy's average rate of return? And should it be a part of your decision-making process? https://www.youtube.com/watch?v=y1UZ_EYIns0 In this episode, we discuss the why, how, and what of direct recognition vs. non-direct recognition so you have the knowledge you need to decide. So if you want to know how a life insurance company's treatment of dividends when you have a policy loan affects your policy's cash value growth over time and your future ability to borrow against your policy for Infinite Banking, this episode is for you. We'll help you find out whether it matters and, most importantly, tune out the biased opinions of some who say you should ALWAYS have it one way, and NEVER the other. You’ll really understand it, so you can get the best dividend-paying whole life policy, tune in below! Table of contentsWhat You'll Learn Where Whole Life Insurance Policies Fit Into the Bigger PictureWhat Does Direct or Non-Direct Recognition Mean?How Direct Recognition WorksHow Non-Direct Recognition WorksWhy the Comparison Isn't Always ClearDirect vs. Non-Direct Recognition CompaniesHow Policy Loans Affect DividendsFixed vs. Variable Loan RatesShould You Choose Direct or Non-Direct Recognition?Check Company Ratings & Customer ServiceChoosing the Best Life Insurance CompanyReady to Start Your Life Insurance?Frequently Asked QuestionsHow do I find out if a company uses direct or non-direct recognition?Will one recognition type always outperform the other?Besides recognition method, what loan terms should I compare?Can I change my mind about the recognition method after I buy a policy? What You'll Learn Here's what we'll cover: Direct vs non direct recognition explained - What these terms actually mean and why you should care How to identify recognition method before policy purchase - The right questions to ask your agent What does direct recognition mean for policy loans? How does it really affect your dividends when you borrow Direct recognition life insurance companies - How to size up different insurers and their approaches Choosing between direct or non direct recognition - Which one makes sense for how you'll actually use your policy Where Whole Life Insurance Policies Fit Into the Bigger Picture When you're building a solid financial foundation, the details matter. That's why dividend strategy matters in life insurance, especially when you understand how recognition methods affect your long-term results. Privatized Banking with whole life insurance is just one part of the bigger journey. That’s why we’ve developed the 3-step Cash Flow System. It’s your roadmap to go from just surviving to a life of significance, purpose, and financial freedom. The first stage is the foundation. You first keep more of the money you make by fixing money leaks, becoming more efficient and profitable. Then, you protect your money with insurance and legal protection and Privatized Banking. Finally, you put your money to work, increasing your income with cash-flowing assets. What Does Direct or Non-Direct Recognition Mean? When you’re shopping for a life insurance policy, you’re likely going to hear an insurance agent use the terms direct and non-direct recognition thrown around often. The terms have roots in the relationship between dividends and policy loans. Whole life insurance dividends are the non-guaranteed part of the life insurance contract, though historically, companies have an excellent track record of paying dividends. Each year, companies will declare their dividend rates. How Direct Recognition Works Companies handle dividends differently depending on whether you have an outstanding policy loan. Direct recognition companies directly acknowledge outstanding policy loans and will pay dividends accordingly. This often means that they have a different, unpublished rate for any money that is being borrowed against. How Non-Direct Recognition Works On the other hand, non-direct recognition companies pay dividends at the same rate, regardless of any policy loans. The trade-off is that Non-Direct Recognition companies only have one dividend rate, which often seems lower than direct recognition dividends. Why the Comparison Isn't Always Clear However, companies all declare dividends differently, so it’s not an apples-to-apples comparison. It’s tempting to see a higher dividend and jump on it, but these rates are projections. Factors such as the age of your policy and your paid-up additions can affect whether you get more or less than the projection. Whether or not you will use your policy as a family bank will also change which option you go with. Direct vs. Non-Direct Recognition Companies With non-direct recognition vs. direct recognition insurance companies, ther

Do you want to use whole life insurance to store cash, build an emergency/opportunity fund, and create a legacy, but you wish you’d learned about this concept when you were younger? Do you feel like you’re too old for the Infinite Banking Concept (IBC)? https://www.youtube.com/watch?v=ZX91AY2tYlo Fortunately, it might not be too late for you to get started. In this episode, we’re going talk about how life insurance works when you start a policy later in life, and how you can make the most of it. So if you want to see if Privatized Banking can still work to build cash value and accelerate time and money freedom, even if you’re starting a policy as a senior, tune in below! Table of contentsWhere The Infinite Banking Concept Fits In The Bigger PictureHow Old is Too Old for Infinite Banking?The Impact of Privatized Banking Later in LifeHow Can You Use Privatized Banking Now?Transfer of IRAFamily BankingPrivatized Banking As IncomeSocial Security and Pension MaximizationVolatility BufferPermission to SpendAccelerated Death Benefit RiderNot Too Old for Infinite BankingBook A Strategy Call Where The Infinite Banking Concept Fits In The Bigger Picture The Infinite Banking Concept is just one step in the greater Cash Flow System. While it’s nestled into Stage 2, Protection, it also improves everything else around it. Infinite Banking helps you keep more of the money you make in Stage 1, amplify your cash-flowing asset strategy in Stage 3, and accelerate your Time and Money Freedom. How Old is Too Old for Infinite Banking? Many people assume that because Privatized Banking takes time, that after a certain age it’s no longer a viable strategy for them. In reality, there’s more time than you’d think. Your results, after a certain age, will depend more on what you’re hoping to accomplish than anything. Most people look at life insurance and think of term insurance, the simplest insurance, and have preconceived notions. It’s insurance that is pure cost. And based on experiences with term insurance, people are hesitant to pursue insurance strategies later in life. However, whole life insurance can work for you even if you start in your senior years. Whether you’re hoping to bridge income, leave a legacy, or round out your estate plan—it’s likely not too late. You can be in your 70s and start your first policy. In reality, most insurance companies will take policies until age 80. So clearly, they believe that it’s valuable enough for someone in their 70s. Ultimately, this is possible because of the careful actuarial planning of life insurance companies, which allows them to insure people up to that point. The Impact of Privatized Banking Later in Life One of the biggest concerns we hear is that the cash value won’t be as large. While it’s true that your break-even point may be later, the trajectory will be more or less the same. The opportunity cost lost in your cash value may only be a few hundred dollars. The amount of cash value is proportionate to the way the policy is designed, and the premiums paid because of that design. The most significant loss is the face value of your death benefit. What would be a $2 million death benefit for a 30-year old is going to be about $1 million for a 50-year-old. For a 70-year-old, it may be closer to $500,000. However, that half a million will have a better impact on your legacy planning than nothing. The reason the death benefit will decrease the older you are when you start a policy is that the cost of insuring you goes up. Insurance companies know that they’ll have to pay a claim on everyone they provide whole life insurance to; however, they use very careful mortality calculations to do so. The likelihood they’ll pay a claim on a 30-year-old is minuscule. So the costs of insurance are more likely to be covered. Someone in their 70s is likelier to have a claim paid sooner, which means the company has a smaller window to cover the costs of insurance. So the same premium will buy less death benefit. How Can You Use Privatized Banking Now? Although whole life insurance itself may be available to you, Privatized banking strategies do take time. Does that mean if you’re in your 60s or 70s that it’s no longer available to you? Fortunately, you're probably not too old for Infinite Banking. We have several real-world examples of people who have started policies in their 70s and have used them to implement wealth strategies. Here are some ideas of what you can do with your insurance. Transfer of IRA With a new policy, one woman in her 70s decided to transfer her IRA into a whole life policy. She wanted to leave a legacy for her children and saw the advantages of paying taxes today, to transfer a tax-free inheritance. Additionally, she has no interest in real estate or starting a business, but she does take an annual trip to South America. Usually, she pays for this trip by saving a few hundred dollars a month. So instead, she’s decided to borrow against the policy, and use the money s

Are you concerned about ballooning healthcare costs? You should be! It’s an expense that’s risen far faster than inflation, and paying more than you need to is a money leak that prevents you from making the forward traction towards your financial goals that you deserve. https://www.youtube.com/watch?v=x9J6MGxNFMU In this episode, we’re talking with Dave Chase about how community-owned health plans are revolutionizing a stagnant industry that’s failed to develop. So, if you want to learn how to save 20—40% in healthcare costs while improving access to high quality, trustworthy, local, affordable care, with a solution-oriented look at transforming the industry, and your life with it… tune in below! Table of contentsWhere Profit Maximization Fits into the Cash Flow SystemYou’re in the Healthcare BusinessAre Healthcare Costs Legitimate?Health Insurance vs. Healthcare CostsDirect Contracting HealthcarePreventative HealthcareAbout Dave Chase Where Profit Maximization Fits into the Cash Flow System Minimizing your health care costs, so more of the money you make is yours to keep, is just one part of a bigger journey to building time and money freedom. No matter how big your business grows and how much money you make, if it’s all leaking out between your fingers, you’ll never be free of just working harder and harder to make more money. That’s why we have created the 3-step Business Owner’s Cash Flow System, your roadmap to take you from just surviving, to a life of significance, purpose and financial freedom. The first step is keeping more of the money you make by fixing money leaks, becoming more efficient and profitable. Then, you’ll protect your money with insurance, legal protection, and Privatized Banking. Finally, you’ll put your money to work, increasing your income with cash-flowing assets. Minimizing health care costs happens right here in The Money Finder step of your financial foundation. When you find, recover, and keep more of the money you’re making, you put more gas into your cash flow machine. And that accelerates your time and money freedom. You’re in the Healthcare Business ...regardless of whether you like it or not. If you’re a business owner, healthcare should be a part of your business model. It’s the last area to modernize inside businesses. However, the health of your employees directly affects their work, so it’s an essential element of running a business. The rising healthcare costs, thanks to health insurance, leave individuals and businesses alike feeling downtrodden. However, insurance is not the only solution for health and wellbeing. The common misperception is that solving healthcare seems as difficult as solving Middle East peace. That is only true if you believe and work with those desperately focused on preserving the status quo. The distinction lies between care and insurance. Are Healthcare Costs Legitimate? Health care isn’t expensive. What's expensive are price-gouging hospitals, profiteering PBMs, bloated carriers, inappropriate treatment, and outright fraud. Only $0.08 of every $1 ostensibly spent on healthcare goes to physicians ($0.27 for all). As a result, medical practices are shutting down, while mega-carriers are making record-breaking profits. The solution is to rethink care. How can employers provide care in a way that is cost effective for everyone? In the era of high deductible health plans, there are large and fast-growing markets in the direct contracting (employer to provider) and cash pay markets. Because the underlying costs of care haven't changed (i.e., clinician pay and medical supplies), there is no good reason for hyper-inflating prices. Organizations like Pacific Steel put this insight into action. Four years ago, they were spending over $8 million on health benefits (for 750 employees). Last year, they closed out at under $3.5M while benefits improved. All because they reimagined health care. Health Insurance vs. Healthcare Costs So what’s the difference between health insurance and healthcare? Healthcare centers on predictable items you can budget. These are the things we know most people will require or experience in a lifetime. They’ll have a particular amount of checkups, surgeries, and ailments. When we think of healthcare in this way, health insurance becomes coverage for the unpredictable. Rare cancers, diseases, or surgeries that aren’t as likely to occur. As an employer, this insight can help you provide better benefits for more people while reducing spending. Having "in-house" care allows employees to focus on regular and preventative care, keeping themselves healthy. Additionally, it keeps healthcare costs low. This is how Pacific Steel reduced their largest cost and provided better benefits. Direct Contracting Healthcare Healthcare costs have inflated faster than nearly any industry, while costs have remained level. Had this spending tracked regular inflation, the average baby boomer could have a $1 million nest egg. Ins

I heard whole life pays dividends — but what does that really mean? This question comes up constantly when we talk with business owners and high-earning professionals about Privatized Banking. And honestly, I get it. The world of whole life insurance dividends can feel a little murky. Confusing. https://youtu.be/AwW0cKHR-sA So we brought in someone who knows this stuff inside and out: Perry Miller, former Regional VP of Lafayette Life Insurance Company. Perry spent decades in the trenches, helping advisors and families navigate the complexities of whole life insurance. So if you want to see how dividends work, understand how they will impact your policy in the future, and make the best decision when starting your Privatized Banking policy now, so you'll get the most use out of your money later, tune in below! Quick Highlights In this article, you'll discover: What whole life dividends actually are (and why they're completely different from stock dividends) The 4 biggest myths about dividend rates Why comparing dividend rates between companies is almost meaningless How to use dividends strategically to build generational wealth The track record of mutual companies paying dividends for 150+ years through every economic crisis What's guaranteed vs. what's not in your whole life policy Where Whole Life Insurance Fits Into the Bigger Picture Privatized Banking with whole life insurance is just one part of the bigger journey. That’s why we’ve developed the 3-step Cash Flow System. It’s your roadmap to go from just surviving to a life of significance, purpose, and financial freedom. The first stage is the foundation. You first keep more of the money you make by fixing money leaks, becoming more efficient, and profitable. Then, you protect your money with insurance, legal protection, and privatized banking. Finally, you put your money to work, increasing your income with cash-flowing assets. Table of contentsWhere Whole Life Insurance Fits Into the Bigger PictureWhat Are Whole Life Dividends?The Guarantees of Whole Life InsuranceHow Dividends Are CalculatedDividend Payment Options ExplainedPaid-Up AdditionsTaking CashPremium OffsetAccumulate at InterestWhy Dividends Actually MatterYour Money Compounds FasterYour Family Gets Better ProtectionYou Get More Financial Scope4 Myths of the Whole Life Insurance Dividend1. The highest declared dividend means you’ll get more growth in the long term.2. Dividend rates mean the same thing from one company to another.3. Today’s dividend rate on the illustration means guaranteed dividend rates in future years.4. Everyone gets the declared dividend.Direct Recognition vs. Non-DirectHistorical Reliability and Future OutlookLooking Deeper than Whole Life Insurance DividendsWho is Perry Miller? What Are Whole Life Dividends? There is some confusion in the marketplace equating whole life insurance dividends with stock dividends; however, they’re not the same. So, does whole life insurance pay dividends? Yes. But here's what they actually are: returns of excess premium from mutual insurance companies to their policyholders. These dividends are a calculation of a few factors, including expense and interest rate forecasts, portfolio performance, and mortality rates. If they do better than expected on any of those fronts, they share some of that "extra" with you. That's your dividend. In short, stock dividends come from profits from investments. Dividend insurance comes from the insurance company's operational performance. The Guarantees of Whole Life Insurance Your whole life policy guarantees three things, period: Your premium (it won't go up) Your death benefit (it won't go down) Your cash value growth (it will happen) Everything else? Including dividends? NOT guaranteed. Dividends are the icing on the cake. By charter and by law, insurance companies must pay contractual guarantees. If rates, mortality, and expenses change or fluctuate, that can affect the company’s ability to pay those guarantees. So the dividend is like the safety valve. If something doesn’t work out as expected, companies will lower dividends to compensate. On the flip side, if those factors do better than projected, you get to participate in higher rates as well. Most companies can boast that they pay dividends regularly, yet do they meet the projections? Not always. However, that flexibility allows them to meet their guarantees. This mechanism allows the companies to give policy owners the certainty of the death benefit and other guaranteed provisions. So not only are the dividends a bonus, they act as an assurance that the company will meet their contractual obligations. How Dividends Are Calculated Companies look at three main buckets: Company profits and how their investments performed. If they projected 4% returns and actually earned 5%, that extra 1% factors into dividends. Interest earnings on their portfolio. Insurance companies invest VERY conserva

Do you want the freedom to sell real estate at the top of the market and wait to invest until the right time, without having to rush cash into a new property with a 1031, but still be able to defer taxes? A deferred sales trust may be for you - this capital gains tax deferral strategy offers investors unprecedented flexibility. https://www.youtube.com/watch?v=SvbmzY7Xqw4 In this episode, we’re talking with Brett Swarts about why investors need to know about the Deferred Sales Trust. If you want out of the box solutions to capital gains, a rescue from a failed 1031, or to find out how to save capital gains taxes over the deferral limits, so you can maximize your real estate investing progress and momentum, in your own timing and on your own terms … tune in below! What You'll Learn About Deferred Sales Trusts: Why capital gains taxes can devastate your profits - and the legal strategies the IRS encourages to minimize them How deferred sales trust benefits outperform 1031 exchanges - no time limits, no like-kind restrictions, complete investment flexibility The exact step-by-step process of how a deferred sales trust works to defer your capital gains taxes When to set up a DST - including the three critical windows that can save a failing 1031 exchange Expert insights from Brett Swarts - CEO of Capital Gains Tax Solutions and leading DST specialist What is Capital Gains Tax? Capital gains tax can seriously reduce profits from your investments when you sell them. And there are any number of reasons you might be selling an investment. On investment real estate, you pay capital gains taxes on appreciation over your cost basis and the recaptured depreciation of the asset sold. However, the tax rate for capital gains is why strategies exist to defer and diminish their effect. These are legal tax incentives that the IRS actually encourages entrepreneurs and investors to use, to continue to stimulate the economy. If you can overcome a big payment now, you set yourself up to take advantage of bigger and better opportunities. 1031 Exchange Limitations You’ve likely heard of the 1031 Exchange, which allows you to defer capital gains tax. However, the 1031 has limits. You have 45 days to identify the new property, and 180 days to close. And, it requires an equal trade—a like-kind asset of equal or greater value. When it makes sense, it’s a great provision, but results depend on the market. Then, there’s the deferred sales trust—which allows you to play the long game. What is a Deferred Sales Trust? So what is a deferred sales trust exactly? It's a powerful alternative to traditional 1031 exchanges that gives investors complete control over their timing and investment choices. The Problem with Traditional 1031 Exchanges When investors sell their properties, a 1031 Exchange is a popular choice and allows them to transfer ownership without realizing capital gains. However, in a market like 2008, it isn’t nearly as effective. Investors who had taken on too much debt and overpaid for their properties were finding themselves selling high and then buying high. If a 1031 exchange doesn’t seem right for you, or you're unable to complete your exchange, you won’t want to sit on your cash. Otherwise, you’ll be paying up to 20% in federal capital gains taxes, plus there could be additional state and Medicare taxes, depending on which state you live in. On top of that, you'll owe depreciation recapture taxes at ordinary income tax rates. The DST Solution With a DST, you work with an outside trustee to sell the property within the trust. Rather than receiving a big payout upon closing, the money goes into a trust. From there, you’re only taxed as the money is distributed. The funds from the sale allow you to diversify your investments, giving you the chance to wait for the right deal. There’s no pressure to purchase another property. Where a 1031 is quick, a deferred sales trust allows patience. By setting up a trust, a trustee can re-invest the money from your sale in a diversified portfolio, use up to 80% of the funds to purchase new properties (without it needing to be of equal or greater value), and provides liquidity. Deferred sales trusts put time on your side. 1031 Exchange vs. Deferred Sales Trust Feature1031 Exchange Deferred Sales Trust Primary PurposeDefer capital gains taxes when selling investment or business property by reinvesting into “like-kind” property. Defer capital gains taxes by selling to a trust and receiving payments over time. Time Limits45 days to identify, 180 days to close No time restrictions Eligible AssetsReal estate only Diversified portfolio options Control of ProceedsA qualified intermediary must hold proceeds until reinvestment. Proceeds are held by the DST trustee and invested per the trust agreement. Tax TreatmentDeferred until sale Taxed only on distributions Best ForInvestors who want to stay in real estate and follow strict timelines. Sellers who want diversification, liquidi

Do you have a life insurance policy you’re concerned may not last, lacks guarantees, or may lapse, and you’re wondering how you could trade it in for a better model? The good news is that you have options, and you’re not stuck forever! Enter: the 1035 exchange. But, a strong word of caution: you need to understand what this entails and when it might hurt instead of help you. https://www.youtube.com/watch?v=xzmzl8TkMDM In this episode, Bruce and I discuss when you should use a 1035 exchange with life insurance. If you want to know the pros and cons of a 1035 Exchange--tune in below! In this episode, you’ll learn: What a 1035 exchange is and how it works.The reasons why (or why not) to do a 1035 exchange.Challenges you may face during the process.And more! Table of contentsWhere Whole Life Insurance Fits Into the Bigger PictureUnderstanding the 1035 ExchangeReasons for ExchangingReasons Against ExchangingWhat You Really Should KnowThe 1035 Exchange ProcessIs a 1035 Exchange Right for You? Where Whole Life Insurance Fits Into the Bigger Picture A 1035 Exchange could be what allows you to ensure your life insurance is there for your entire life, however, Privatized Banking with whole life insurance is just one part of the bigger journey. That’s why we’ve developed the 3-step Cash Flow System. It’s your roadmap to go from just surviving, to a life of significance, purpose, and financial freedom. The first stage is the foundation. You first keep more of the money you make by fixing money leaks, becoming more efficient and profitable. Then, you protect your money with insurance and legal protection and Privatized Banking. Finally, you put your money to work, increasing your income with cash-flowing assets. Understanding the 1035 Exchange A 1035 Exchange is available through a provision in the IRS tax code, which allows you to transfer specific assets into assets of a like-kind without having to pay tax. Today, we’re talking specifically about the transfer of life insurance policies and why you would want to do a 1035 exchange in the first place. Most often, a 1035 exchange is on the table when you have a policy that no longer seems like an ideal fit for you. If your insurance policy was not designed with you in mind or lacks guarantees, you are likely a candidate for a 1035. Regardless, if a policy isn’t working for you, know that you’re not stuck—you have options. That said, it’s not always ideal to exchange a policy. It’s important to be informed about what a 1035 can and cannot do so that you’re not taken advantage of down the road. Reasons for Exchanging In some cases, it’s possible that you have a less-than-ideal policy design, and it feels like you’re continuing to pour in money with few guarantees. We see this often with universal life insurance. The problem is in the language of how some advisors pitch these products—flexible premiums aren't all that flexible. In the later years of an in-force IUL, the cost of maintaining your policy can increase because premiums are non-guaranteed. So even though you can make flexible premium payments, you could be under-funding it and lose your policy. To get a better idea of how your policy is performing, we recommend requesting an in-force illustration of your life insurance policy from your company. This will show you how your policy has performed and the projections for future performance. You will also see which guarantees you have, and which ones you do not. Use this information to assess whether or not your policy is doing what you want it to do. Ultimately, we see people exchanging policies that just aren’t living up to their expectations. If you don’t currently have a life insurance policy, take some time to think about what you want to accomplish—leaving a legacy, protecting your family, leveraging your cash value, or more? And if you do have a policy, check-in and make sure it’s accomplishing what you want. Reasons Against Exchanging Though the tax benefits of a 1035 exchange are important, we recommend erring on the side of caution when it comes to exchanging a policy. This often boils down to cost. When you first open a new life insurance policy, you’re paying for the cost of insurance upfront—this is why your cash value takes a few years to “break even.” After a certain point, your cash value breaks even and surpasses the amount you have paid in premium. When you do an exchange, you start over with a new life insurance policy. Which means paying the costs up-front. And if you’re not yet at the break-even point on your first policy, you could be giving up alot of capital that you'll never recover on that policy. Another instance where the 1035 exchange may not be helpful? When the cost of insurance in your new policy is greater. You’ll have guarantees but at a much steeper cost. In which case other solutions might have better results. Regardless, know that you have options when a policy isn’t right for you. You’re not stuck. What You Really Should

This week, we welcome John Moriarty back to the Money Advantage Podcast. In Part 1, we talked about building a family bank on a conceptual level. Now, we pull in real facts and figures to show you how private family banking looks in action. https://www.youtube.com/watch?v=ghvEU4tXzw8 If you have considered implementing family banking and didn't know where to start or what it looked like, this is your chance to pull back the curtain. And this is not speculation. John is showing us how he personally implements the Infinite Banking Concept to be the banker and build his family bank. Now is your opportunity to see behind the scenes! You’ll see a high level of funding, cash value, how he is using policy loans, the internal growth of each whole life policy, the death benefit, and how he's getting a front-row seat to opportunities. Why? It's all because of this family banking system and tool for storing cash reserves. Table of contentsIn This Episode, you'll learn:Where Private Family Banking Fits into Your Cash Flow SystemThe "Mystery” of the Family BankThe Basics of a Family Banking SystemEnjoying Your MoneyPrivate Family Banking with Whole Life InsuranceWhy Would You Want to Borrow Your Own Money?The Long GameStart Your Family BankGet the Moriarty 11-Year Case StudyBook A Strategy Call In This Episode, you'll learn: What it takes to become your own banker and start a family bank How to build a family bank with whole life insurance policies over time What you can and cannot do with a whole life insurance policy Why you should not fear interest charges How to structure your repayment strategy Where Private Family Banking Fits into Your Cash Flow System Family Banking is just one step in the greater Cash Flow System. It fits into Stage 2, a part of keeping and protecting your money. We said before that Privatized Banking is like the peanut butter to your cash flow sandwich. It’s wedged between Stage 1 – keeping more of the money you already make – and Stage 3 – increasing your cash flow from investments. And it helps you do everything else better. Infinite Banking increases your financial efficiency, enables you to keep more of what you already make, amplifies your cash-flowing asset strategy, and accelerates your time and money freedom. The Infinite Banking Concept is the how of keeping and protecting your money. And a whole life insurance policy is the what. The "Mystery” of the Family Bank The idea of Infinite Banking, and thus family banks, is often shrouded in mystery. Mainstream financial advice makes it seem more difficult and unattainable than it is. Yet we know that what it boils down to is sound money principles--how you take control of the banking function yourself. If you consider yourself to be a disciplined person, you can implement and benefit from family banking strategies. The Basics of a Family Banking System While saving is the first component of private family banking, Infinite Banking can be considered a system for cash flow management. A whole life insurance policy offers a way to take your savings and optimize it from a cash flow standpoint. While this concept is not new, whole life insurance policies became more publicized when Nelson Nash wrote Becoming Your Own Banker. The benefit is that you can customize whole life insurance to perform in ways suited to your goals. Then, you can leverage the cash value of your life insurance to take out loans against your policy, instead of going to the bank. And all the while, your policy cash value continues to grow, uninterrupted. With the right strategies, you can finance virtually anything you can imagine. Can you say the same for banking institutions? Your personal and business economies can both benefit from your ability to leverage your assets. Enjoying Your Money In a well-structured strategy, not all of your “moves” have to be related to wealth accumulation or investments. John himself tells us, and those he works with, that his strategies allow him to do the things that he wants to do as well. In many instances, the way that he utilizes his cash value helps him to participate in activities that he enjoys, too—like take family vacations or go on golf trips. Because your private family banking System makes your money more efficient, it excels as a fund for both emergencies and opportunities. A well-executed strategy gives you limitless possibilities. The optimization of your dollars provides one of the most rewarding benefits—the ability to finance things that bring you joy, too. Private Family Banking with Whole Life Insurance Since 2009, $1.9 million has been saved into the Moriarty family bank. His family has borrowed roughly $2 million from the family bank. And overall, they have repaid only $1 million to the family bank. Rather than a linear system--put in, take out, replenish--he has established a process. John repays some life insurance loans more quickly because they do not add to his net worth—like va

https://www.youtube.com/watch?v=jFbebed_F78 Want to know what happens to your real estate portfolio after you’re gone? In this episode, we’re talking with Ron Phillips—CEO of RP Capital, a real estate brokerage—about his client who passed away. It turns out, his family didn’t even know what assets he had, or what to do with them, and it almost cost them a fortune in taxes. Tune in to hear what hoops they had to jump through, and how to avoid the same wealth transfer risks, so you and your family can be much better prepared. Table of contentsIn this episode with Ron Phillips, you’ll learn:Where Legacy Fits In The Bigger PictureLegacy & Wealth Transfer Risks, Conversation Highlights from Ron PhillipsHow Mindset Affects Your Real Estate DealsRon’s Real Estate BusinessPlaying to WinRon's ClientsWealth Transfer RisksWills and ProbateWhat is a Legacy?Who is Ron Philips?Links and MentionsWant to Talk About Family Banking with Whole Life Insurance?Thanks for Tuning In! In this episode with Ron Phillips, you’ll learn: The importance of managing your mindset in lifeThe costs of not preparing and communicating your legacy wellHow to ensure your assets do the most good for your family even after you’re goneWhy it’s crucial that your heirs know what you haveThe wealth transfer risks of putting off your estate planningHow to make leaders in business and in your family Where Legacy Fits In The Bigger Picture Creating a legacy is the capstone of a life well-lived. It’s the end goal of a life and business you love, and the greatest mission of our lives. But we need an entire financial system to support our ability to do the most good. That’s why we’ve put together the 3-step Entrepreneur’s Cash Flow System. The first step is keeping more of the money you make. This includes tax planning, debt restructuring, cash flow awareness, and restructuring your savings so you can access it as an emergency/opportunity fund. This step frees up and increases your cash flow, so you have more to save, and consequently, more to invest. Then, you’ll protect your money with privatized banking, insurance, and legal protection. Finally, you’ll put your money to work and get it to make more by investing in cash-flowing assets to build time and money freedom and leave a rich legacy. Legacy & Wealth Transfer Risks, Conversation Highlights from Ron Phillips How Mindset Affects Your Real Estate Deals Once you figure out how to help others, you’ll begin to reap benefits in your own life. You’ve likely heard, “If you help enough people get what they want, you’ll get what you want.” In practice, you often get 10x that! (7:40) When Ron’s deal was rejected, he felt destroyed. Yet he woke up the next day, he reflected on what he had learned and studied. He knew as long as he could solve the problem at hand, he could make a worthwhile deal. Then, he ended up launching his career, which has only continued in its success. (10:05) Real estate, life business, relationships—everything throws wrenches into your world. Nothing goes the way it’s supposed to, all the time. You have two choices in how you proceed. You can think that the world is against you, and that you can’t win, or you can figure out a way through it. Ron’s Real Estate Business (12:38) Until 2005, Ron was in the business of rehabbing houses, until HUD changed the guidelines. So he “went out of business” virtually overnight. He essentially became a landlord, though it was not his goal. So Ron adapted. What he discovered was, many people don’t want to be landlords (much like himself). Though they do have an interest in real estate. Ron had the teams and the know-how, and now he helps other people find success when they lack the right resources. This started before turnkey operators were really a thing. However Ron resists the urge to describe his business as a turnkey operation. (20:20) … people think when something is turnkey that they don’t have to do anything. It’s not that the property isn’t ready to go, or that the property doesn’t have a tenant in it. All of that is true. But turnkey just gives this feeling of, “I don’t have to check my bank account because this thing is going to just magically happen.” And that’s just not how real estate works. It’s not how anything works. Playing to Win (23:30) If you want to play the money game to win, you must move your assets according to what the markets are telling you. Enjoy your market in its prime, and then move when the winds change. You increase your income, cash out, and do it again. If you wait around in one market, watching it go up and down like so many do, you stunt your growth. Your exponential power lies in the ability to watch multiple markets and shift your assets for growth. The power behind this strategy is that if you have capital and you’re looking to have an additional source of income, you can do it while you work. (24:45) And once somebody gets to this point, there are all these really cool layers you can add. If you c

We frequently discuss high cash value life insurance here at the Money Advantage, yet with the financial uncertainties of COVID-19, how safe are life insurance companies? https://www.youtube.com/watch?v=j9TZZf6hYjY How strong is the life insurance industry really? What impacts do today's low-interest rates, economic turmoil, and the pandemic have on my long-term growth rates and the policy guarantees? How do they affect the life insurance industry as a whole? Do insurance companies have enough reserves to weather low returns and higher costs? Are they able to maintain their guarantees? Are they still a safe place to put money? If you want to see how low interest, low bond yields, and higher mortality can impact you as a policy owner, know if you can trust whole life guarantees for cash value and death benefit, and find out how strong this nearly indestructible industry is during unprecedented times, so you can know what to do, tune in now! In this episode on the safety of life insurance companies, you'll learn: How interest rates and bonds affect the life insurance industryWhy the US is better off right now than you'd thinkA brief history of the life insurance industryThe "checks and balances" of mutual insurance companiesAnd why COVID isn't impacting the industry as much as you'd expect Right now, many financial products and systems are in flux. That uncertainty may not instill confidence in your financial future. COVID-19 has certainly impacted the financial sphere, so let's unpack what that means for life insurance. The life insurance industry has long been a pillar of certainty and financial stability, and fortunately, we have high hopes that this will continue to be the case. Historically, these companies have outlasted even the toughest of financial straits. Table of contentsThe Safety of Life Insurance Companies is a Part of the Bigger Picture of Creating WealthHow Safe Are Life Insurance Companies Facing Internal Challenges?The History of the Life Insurance IndustryLow Interest RatesBond Yields Follow Interest RatesMutual Companies Are Positioned for the Long-GameMortality Isn't a Current ConcernSo How Safe Are Life Insurance Companies? Resources to Evaluate the Financial Safety of Life Insurance CompaniesReady to Start Your Life Insurance? The Safety of Life Insurance Companies is a Part of the Bigger Picture of Creating Wealth While the safety of the industry is a critical piece of protecting and preserving your wealth, it’s just one small piece of the bigger journey to creating time and money freedom. That’s why we’ve developed the 3-step Cash Flow System. It’s your roadmap to go from just surviving, to a life of significance, purpose, and financial freedom. The first stage is the foundation. You first keep more of the money you make by fixing money leaks, becoming more efficient and profitable. Then, you protect your money with insurance and legal protection and Privatized Banking. Finally, you put your money to work, increasing your income with cash-flowing assets. How Safe Are Life Insurance Companies Facing Internal Challenges? Many of the current concerns around whole life insurance relate to the low interest, low bond yields, and low internal growth we're seeing right now. We don't blame people for translating this slow-down as a warning sign. In addition, there's a possibility of higher claims in a pandemic—and will the companies have enough capital to weather that storm? If you're considering the impact of these factors on your life insurance policies, you're on the right track. It's important to stay ahead of the curve for your financial well-being. So, let's look into some of these concerns and find the truth in these statements. The History of the Life Insurance Industry Fortunately for policyholders, the life insurance industry has a long history of navigating tumultuous financial times. Historically, insurance companies have paid dividends each year for more than 100 years, despite dividends not being guaranteed. That means companies paid dividends in the 2008 crash, during multiple wars, and even the Great Depression. Due to the actuarial nature of life insurance and their long history of data collection, mutual insurance companies have been very accurate in their assumptions. Even when they haven't paid exactly at their projected rates, the industry as a whole has year-in and year-out consecutively paid dividends. Therefore, these companies have a significantly long history of being profitable while paying claims through the worst of times. So, let's look at what we're dealing with and see how it measures up to the life insurance industry's historical precedent. Low Interest Rates While interest rates are low, it's not an immediate cause for fear. There's a reason for low rates, and it all starts with banks. If you look at the federal funds rate, what you're seeing is

https://www.youtube.com/watch?v=_KcOV9DhFkE Considering estate planning, but not sure how to make it work best for your family? Wondering how to balance your unique age, stage, personalities, and goals? Does estate planning feel constrictive, or your ambitions seem bigger than what you can accommodate with a finite plan? Do you wonder how you could possibly know what’s best 30 years from now when you’re not sure who your children will become? Today, we want to help you wrestle the giant octopus of long-range planning. Bruce and I are talking with my estate planning attorney, Stephen Haynes, about solving special considerations with your estate plan. And this will be a special treat! We're not just going to talk theory about estate planning. We're inviting you in and showing a sneak peek into how we created an estate plan for our family. So if you want to recognize the pros and cons of various estate transfer strategies, achieve the best balance of asset protection, creditor protection, control, and ownership, and find out how to design your estate plan to solve your needs best so you can strengthen your family with how you pass on wealth, instead of causing future challenges, tune in now! In This Conversation about Custom-Designed Estate Planning with Stephen Haynes Deciding how to transfer trust assets to children in a way that provides for their needs and helps them become empowered and not entitled. Solving the tension of gifting assets outright vs. in trust, and why you may consider one over the other. How to achieve the balance of asset protection and creditor protection with control and ownership, and reduce the risk of estate taxes. The role of the trustee, the goal of the trust to be a relationship, how to select a trustee, and how to set up your children to have a good relationship with the trustee. Hear how we're solving the potential problem of children seeing that a trustee is trying to keep them from their money. Finding the middle ground between leaving direct guidance to the trustee with rigid wishes vs. leaving discretion to the trustee. How to direct your money to be used the way you want, while also providing for the freedom and flourishing of each individual in generations beyond you. How you can use life insurance to create perpetual, generational wealth. Where Estate Planning Fits into Your Cashflow Creation System Encircling your family and assets with a bulletproof estate plan will maximize your peace of mind. But it’s just one small step of a greater journey. That’s why we’ve put together the 3-step Entrepreneur’s Cash Flow System. The first step is keeping more of the money you make. This includes tax planning, debt restructuring, cash flow awareness, and restructuring your savings so you can access it as an emergency/opportunity fund. This step frees up and increases your cash flow, so you have more to save, and consequently, more to invest. Then, you’ll protect your money with savings, privatized banking and legal protection. This is where estate planning fits in. You’ll know that no matter what happens to you, your wishes will be carried out, your assets will remain intact, and your wisdom will empower generations after you. Finally, you’ll put your money to work and get it to make more by investing in cash-flowing assets to build time and money freedom and leave a rich legacy. Take Action to Begin Your Family Legacy Today Take the next steps today. As Bruce says, "Make small steps, but quality steps." You don't have to leap the whole chasm all at once. Today's small step may look like taking a minute to write down what's important to you. This may become the start of your personal values or vision statement. Or, if you are ready for a conversation about your estate planning or life insurance, your next step could be scheduling a conversation. Find Out More About Stephen Haynes Discover more about Stephen Haynes, Davis Law Group, or contact him directly at [email protected]. Book a Strategy Call We offer two powerful ways to help you create lasting impact: Financial Strategy Call – Discover how Privatized Banking, alternative investments, tax-mitigation, and cash flow strategies can accelerate your time and money freedom while improving your life today. Let us show you how to align your financial resources for maximum growth and efficiency. Book a Strategy Call with our team today. Legacy Strategy Call – If you want to uncover your family values, mission, and vision, and create a legacy that’s about more than just money, we can guide you through the process of financial stewardship and family leadership. Save time coordinating your family’s finances while building a legacy that lasts for generations. Book a Legacy Strategy Call to learn more about how we can help. We specialize in working with wealth creators and their families to unlock their potential and build a meaningful, multigenerational legacy. Thanks for Tuning In! Thanks so much f

Today, we’re talking with Andrew Weinhaus about why you need an estate plan. He's an attorney who has worked in estate planning for 30 years. That means he knows it like the back of his hand. So, you get the tremendous value of hearing about estate planning in a way that's relatable, plain and simple! https://www.youtube.com/watch?v=xvoTfp63rT4 Do you wonder what happens to all of your stuff when you die? Have you heard of estate planning, but are not really sure what it is and whether it’s for you? No need to share your answers, but ... pssst ... this episode is for you! Here’s a sneak peek into estate planning from a distance. It's like browsing, but without the annoying sales clerk asking if you’ve found everything you didn’t even know what you were looking for in the first place. You can dip your toe in to find out if it’s really as scary and overwhelming as you thought. I promise, you’ll feel less out of place and more at home in the estate planning conversation. So, whenever and however you decide to move ahead, you'll feel better about those uncomfortable conversations. If you are concerned about what happens to your legacy, you’re certainly not alone. What’s more, you don’t need a million-dollar estate to start thinking about it. This episode explores why planning ahead is incredibly important for every family in America - not just the wealthy and how to approach the process with extreme confidence. This conversation will help you make sense of the basics. That means you’ll know the why and the end goal. Those two things will automatically vacuum out the ambiguity in the process. So if you want to understand what an estate plan is and does, see how it's relevant to your life to do the long-term planning, and differentiate whether this is an important thing to take action on so you can feel the benefit of planning before you embark on the journey, tune in now! In this episode on estate planning, you’ll find out: The two main reasons you need an estate plan: if you can't make decisions, and if you die. The four reasons you want to avoid probate: cost, time-intensity, publicity, and creditor rights. Why you might want to pay for your parents' estate planning. The basic components of an estate plan and what they do: a medical directive, a power of attorney, a revocable living trust, and a pour-over will. The cost of an estate plan is often much less than the cost of probate. The difference is whether you pay a fixed, known cost now, with an attorney who is a trusted advisor, or a potentially much higher cost later with an attorney you can't choose. Concerns with real estate, businesses, and investments without an estate plan. How life insurance is the perfect equalizer to allow you to transfer family assets without having to liquidate. Why titling your assets correctly is one of the most critical steps of estate planning that most people miss. Why estate planning spells out exactly what you want to happen. How to plan for the care and financial needs of minor children. Why your estate plan can never be perfect and how to get it done anyway. Why Don’t More People Talk About Estate Planning? Estate planning may sound slightly intimidating, with many people assuming it’s something only the wealthy need or that it involves complicated legal jargon and expensive lawyers. The reality is different, however: estate planning is about protecting your family, your choices, and your peace of mind, not just your money. Another reason people put it off is the fear of cost or discomfort around discussing the uncomfortable subject of death. While it’s easy to push the topic aside when it feels far away, without a plan, the people you care about are left to sort things out on their own. The problem is that in every sense of the word, that can be far more costly. In short, estate planning is simply an act of care and well-deserved diligence. It ensures that what you have built, whether big or small, goes where you want it to go, without unnecessary stress or confusion for your loved ones. Why Everyone Needs an Estate Plan Regardless of your role in life - be it a parent, a business owner, or just someone who cares about what happens to your assets - you really need an estate plan. Having one is less about how much you have, but how well it’s protected. The simple truth is that life throws the occasional curveballs, including (but not limited to) incapacity, unexpected death, and family emergencies. An estate plan provides written instructions so that someone you trust can step in when needed, without causing chaos or confusion. It also shields your family from the four major threats: long, expensive probate proceedings, unnecessary legal fees, months (or years) of delays, and even creditor claims against your estate. A solid plan means more of what you’ve built actually reaches your family quickly, privately, and with far less stress. Core Components of an Estate Plan When most peo

Do you want extraordinary relationships with your kids? Are you longing to build a family that’s strong and enduring, living life on purpose? Building family wealth is so much more than being a family with a lot of money. https://www.youtube.com/watch?v=Bb-QZAHc-uA So, if you aspire to do the most for your family, start with the building blocks. Family wealth is strong family relationships that start with flourishing individuals, combined with practicing the fundamentals of wealth creation. To get that, you have to know personally how you best provide value and contribute to others, and then instill that awareness and way of life into your kids. Those might seem like tall orders, but it is possible, and we'll show you how. Here to discuss the principles that drive family wealth is a family who is right in the middle of doing this - extraordinarily. In this episode, we’re talking with Jon and Missy Butcher, creators of LifeBook, who are living out their ideal life, by design – and we’re discussing how to build exceptional family wealth. So if you want to create the most positive and fulfilling family relationships, develop family strength that lasts for generations, and build family wealth that's more than money so you can carve out your family legacy, tune in now! In This Episode on Building Family Wealth, You'll Discover: Why core family values are so important for your home, and the four questions you need to ask yourself to discover them. The fundamental truth of all wealth creation. The difference between wealth and money. The three core values of this exceptional family. How to help your kids make money. How to transform your own life, so you can transform your family relationships ... and grow family wealth. Why consciousness is a process of self-discovery and self-creation. Where Building Family Wealth Fits In The Bigger Picture Building family wealth and creating a legacy is the capstone of a life well-lived. It’s the end goal of a life and business you love, and the greatest mission of our lives. But we need an entire financial system to support our ability to do the most good. That’s why we’ve put together the 3-step Entrepreneur’s Cash Flow System. The first step is keeping more of the money you make. This includes tax planning, debt restructuring, cash flow awareness, and restructuring your savings so you can access it as an emergency/opportunity fund. This step frees up and increases your cash flow, so you have more to save, and consequently, more to invest. Then, you’ll protect your money with privatized banking, insurance, and legal protection. Finally, you’ll put your money to work and get it to make more by investing in cash-flowing assets to build time and money freedom and leave a rich legacy. Who Are Jon and Missy Butcher? Jon and Missy Butcher created a life most people might call impossible. They have founded 19 impact-driven companies and philanthropic organizations together. They are financially free, enjoy a whirlwind romance, even after decades of marriage, and live in multiple countries a year, including the dream home they are building on a remote Hawaiian island. And they’re grandparents in their fifties - who look and feel a decade or two younger. Every single aspect of Jon and Missy’s life appears to defy society’s expectations: not because they’re smarter, more gifted, or luckier than anyone else - but because they designed it that way. Learn more about Jon and Missy's backstory of personal transformation here: LifeBook: Creating An Extraordinary Life. When Jon and Missy’s life transformed dramatically, their friends and family started asking them for their secret. And so Lifebook was born: first as a series of private retreats, and ultimately as a methodology that anyone can now harness to envision, plan, and achieve their greatest lives. Today, Jon and Missy’s mission is to spread Lifebook to at least one million people worldwide. And to keep reaching for the highest possible quality of life, while empowering others to do the same. Learn More About Lifebook Find out more about the 6-week Lifebook online self-study course today! When you do, you'll find out exactly how to design your ideal life in every category. ... And, it's free, with accountability. Book A Strategy Call Are you ready to take control of your finances and legacy? We offer two powerful ways to help you create lasting impact: Legacy Strategy Call – If you want to uncover your family values, mission, and vision, and create a legacy that’s about more than just money, we can guide you through the process of financial stewardship and family leadership. Save time coordinating your family’s finances while building a legacy that lasts for generations. Book a Legacy Strategy Call to learn more about how we can help. Financial Strategy Call – Discover how Privatized Banking, alternative investments, tax-mitigation, and cash flow strategies can accelerate your time and money freedom while

Not all whole life policies are designed equally. Some that show up better on an illustration actually have a higher risk. Rodney Mogen came back on the show to continue the conversation about life insurance agent commission and whole life policy splits. https://www.youtube.com/watch?v=I4lq1Ltep2s We address the “Fear, Uncertainty, and Doubt” in the IBC world around policy splits. We answer questions about illustrations, changing dividends, agent commissions, effects on the death benefit, and policy tax status. Check out the first conversation here: 10/90 Premium Split & Blended PUA Rider Risks, with Rodney Mogen Life Insurance Agent Commission Why are we talking about life insurance agent commission? Because some people think that agents design policies based on how they are compensated. There are agents telling people that a 10/90 premium is the only one right way to design policies. According to them, anything else is just trying to earn a higher commission. We design policies based on the client's unique situation, versus using a cookie-cutter approach and designing all polices the same. It's important to have an abundance mindset when looking for the best life insurance companies to work with. We believe compensation is a good thing and should be based on the amount of value you receive. If someone bases their entire agency on the 10/90 split, then they are running their business based on volume. This approach is very similar to Walmart. There is absolutely nothing wrong with serving as many people as possible. The question is, how much value and time do you think you will get from that advisor? Your agent's commission should be the last thing in the agent's mind and your mind when putting individualized strategies and recommendations in place. Get Started with Privatized Banking There is not a one-size-fits all policy design for everyone. If you would like to find out exactly what policy will best help you accomplish your goals, book a call with our advisor team We'll get to know you, learn your objectives, and consider your complete financial picture before recommending strategies for your unique situation. Success leaves clues. Model the successful few, not the crowd, and build a life and business you love.

https://www.youtube.com/watch?v=gB_2RGtp_ts Will the work you do create a foundation for your kids and grandkids to prosper? Then how do you create long-term complete family wealth that does the most good for as long as possible? How do you make sure the money you make, the business you build, and the real estate and investments you acquire do more than just benefit you during your lifetime? How do you create rich kids, grandkids, and great-grandkids? To answer these questions, we're discussing creating generational family wealth, with Keith Whitaker. Through Wise Counsel Research, he helps families grow into multi-generational enterprises, thriving together, preserving and growing family wealth. Where Complete Family Wealth Fits In The Bigger PictureComplete Family Wealth Conversation Highlights from Keith WhitakerAvoiding the Pitfalls of Leaving an InheritanceThe Role of ExcellenceThe Role of CommunicationTrustsHow to Communicate The Meaning of Your LegacyFirst Generation MindsetThe Rising GenerationWho Is Keith Whitaker?Complete Family Wealth Links and MentionsBook A Strategy Call In this episode with Keith Whitaker, you'll discover: Why wealth is more than money and how to grow all five types of capital. How to develop character so that generations after you will be wealth builders. The three keys of prosperous families who pass on multi-generational legacies of more than money. Easy, doable ways to write down and communicate the purpose of your trust. Why it's essential to have a first-generation mindset. The crucial role of the rising generation to prevent the crumbling and disintegration of family wealth. How to develop your children's character - the habit of choosing wisely. Why individual flourishing is the crux of complete family wealth. So if you want to create strong and successful families, raise children to be stewards, and know that your money will do the greatest good long after you're gone so you can empower future generations with wealth and wisdom, tune in now! Where Complete Family Wealth Fits In The Bigger Picture Building family wealth and creating a legacy is the capstone of a life well-lived. It’s the end goal of a life and business you love, and the greatest mission of our lives. But we need an entire financial system to support our ability to do the most good. That’s why we’ve put together the 3-step Entrepreneur’s Cash Flow System. The first step is keeping more of the money you make. This includes tax planning, debt restructuring, cash flow awareness, and restructuring your savings so you can access it as an emergency/opportunity fund. This step frees up and increases your cash flow, so you have more to save, and consequently, more to invest. Then, you’ll protect your money with privatized banking, insurance, and legal protection. Finally, you’ll put your money to work and get it to make more by investing in cash-flowing assets to build time and money freedom and leave a rich legacy. Complete Family Wealth Conversation Highlights from Keith Whitaker Avoiding the Pitfalls of Leaving an Inheritance [3:57] When we talk with family members and family leaders, we ask them what's really on your mind? What's keeping you up at night? You eventually get to the concern, what's this money going to do to my grandchildren and generations after that? Is it going to ruin them? And that's exactly the concern that we try to address. The Role of Excellence [5:41] Socrates said, "Wealth doesn't make a person or a city great and powerful and virtuous and excellent. It's excellence or virtue that makes an individual or a city wealthy." [5:53] In other words, no matter how big your bank account, if you don't have excellence of mind and character, then, in fact, you're going to be poor. [11:11] Families succeed in passing on complete family wealth, not just money, but also excellence, really do communicate. They communicate about their financial plans, estate plans, and their giving. The Role of Communication [11:36] If you're making gifts to your children or grandchildren without communicating about them, behind the scenes or with very little discussion, you're not really making a gift, you're making what we call a transfer. Even worse, these gifts are going to become meteors that blast into people's lives, without any preparation. That can be extremely destructive to young adults or even to older adults. So, people who do this well lay a foundation by developing character and financial literacy in their children. [12:16] Look at the gift from the eyes of the recipient and ask, is this person ready to receive well? Is this person prepared to integrate the gift into his or her life? And if not, what can I do to help them develop that capacity? [12:51] Silence is counterproductive. It's a big opportunity cost that parents incur by not talking. It can build up the anger, resentment, and confusion in child

Did you know there’s a secret hiding in plain sight that average rates of return will never tell you? In this episode, we’ll discuss the Sequence of Returns and the risk they pose to your future income. Then, we’ll show you exactly how to minimize the risk. We’ll also look at how to mitigate sequence of returns risk in a simple, practical way so you aren’t relying on luck or timing to secure long-term income. https://www.youtube.com/watch?v=cq72TYq1zK4 So if you want to get predictable income from an unpredictable investment portfolio, NOT run out of money, and see exactly why you should supplement your investments with non-correlated assets … all so you can plan ahead and not be stressed with figuring out retirement income when it’s too late, tune in now! To understand the giant risk posed by the sequence of returns, let's lay a quick foundation. Table of contentsWhere Does Investing Fit in the Cash Flow System?The Lie in Average Rates of ReturnThe Order of Returns MattersTaking Income After Losses Is A Giant MistakeWhy Sequence of Returns is a RiskMarket Volatility and TimingBehavioral FactorsNon-Correlated Assets to the Rescue!What Spending Strategy Could Eliminate Sequence of Return Risk?So Here's How to Minimize Sequence of Return RiskGet Whole Life Insurance TodayFAQsWhat is the sequence of returns, and why does it matter?Why is taking income during down years such a problem?What spending strategy could eliminate the sequence of returns risk?How do you know when to switch between different income sources?What’s the simplest way to understand how to mitigate the sequence of returns risk? Where Does Investing Fit in the Cash Flow System? Investing is just one step in the path to time and money freedom. That’s why we have created the 3-step Business Owner’s Cash Flow System. It’s your roadmap to take you from just surviving to a life of significance, purpose, and financial freedom. The first step is keeping more of the money you make by fixing money leaks, becoming more efficient, and profitable. Then, you’ll protect your money with insurance and legal protection, and Privatized Banking. Finally, you’ll put your money to work, increasing your income with cash-flowing assets. The Lie in Average Rates of Return Investment performance is often measured by the average rate of return. What is an average? It's simply all the returns over a period, divided by the number of years. But the average rate of return often doesn't even come close to mapping onto our actual experience. In fact, positive averages don't even mean you'll come out ahead on the money you put in. Why? In this article, I highlight the disparity between the average vs. real rate of return. Here's the main reason that averages don't even come close to telling the whole story: Negatives have a much greater impact on your account balance than corresponding positive returns. This is one of the key reasons the sequence of returns matters so much, because the timing of losses heavily influences your real experience—even when the averages look good. For instance, if you lose 20% on $100K, you would have $80K. To recover your loss, you wouldn't just need a 20% gain. That would only get you to $96K. It would take a 25% gain, a value greater than the percentage of loss, to bring your balance back to $100K. With that out of the way, there's another deception that lies in average returns. Negative 20%, plus a positive 25% lands you at a total return of 5%. Divide that by 2 years, and you get an average of 2.5% return per year. But your experience gave you a 0% actual return over those two years. So, saying you had a 2.5% average return gives a misleading impression that you're increasing your account balance with growth. But it gets worse. The Order of Returns Matters Not only do losses make a huge impact on account value, but so does their timing. That's because early losses shrink your portfolio and make it very difficult to recover. Late losses don't do as much damage. Instead, they skim a little off the top of a more substantial account. Taking Income After Losses Is A Giant Mistake If you're using your investment account for income after a year of losses, you further depress account values. Imagine you were taking 4% from your investment account per year as income. If your returns are -20%, your 4% withdrawal amplifies the negative to a 24% loss. In fact, you may need to increase your withdrawal percentage to get sufficient income, further worsening the outlook and handicapping your future performance. To see exactly how these risks affect you, let's compare the outcomes of two identical investment portfolios of $500K, with an annual withdrawal of $20,000 per year, increased by 2.5% for inflation. We’ll use the actual performance of the S&P 500 for the year 2000 through 2015. The only difference between the two portfolios is that we’ll reverse the sequence of the returns b

If you want to create a legacy of wealth, the starting point is a strong culture of family values. That's because having the greatest impact and doing the most for your children hinge on their character and self-leadership. And their character and self-leadership depend on yours - your example, your relationship, and your communication. https://www.youtube.com/watch?v=VAuWpCdeqrA So how do you model and teach the values necessary for your children to be successful? How do you build bonds that strengthen and unify your family over generations? Then, how can you fortify against the torrent of evils like regret, pain, and resentment that rip families apart? What can you do to prevent everything you've spent your life building from being crumbled away or used up? If you want to strengthen and anchor your family, you need a value system that stands through generations. Today, we're talking about the importance of family values, instilling those in kids, posting your family values at home on the wall, and spending more serious time on the topic as a family unit. Richard Wilson, CEO of the Family Office Club, is coming back to join us for this conversation. Because of his work with ultra-high net worth families, he sees what works and what breaks when it comes to family wealth. You'll see exactly why family values are pivotal to your long-term impact. You can find his first interview, The Family Office Model: Investing Like the Wealthy, here. In This Show About Family Values, You'll Discover: Why family values are more important than family wealth. Why family values are central to living well and creating the greatest impact and legacy. How writing down and posting your family values improves family culture. The surprising trick to remembering your values and brainwashing yourself so you can become the best version of you. How individual, marital, family, and business values are connected. The personal family values list of a leader in family wealth to get you thinking about your own values. In This Show About Family Values, You'll Discover:Where Family Values Fit In The Bigger PictureAbout Richard WilsonLinks and MentionsBook A Strategy Call Where Family Values Fit In The Bigger Picture Family values are a part of your family guidance system when building family wealth. Creating and leaving a legacy is the capstone of a life well-lived. It’s the end goal of a life and business you love, and the greatest mission of our lives. But we need an entire financial system to support our ability to do the most good. That’s why we’ve put together the 3-step Entrepreneur’s Cash Flow System. The first step is keeping more of the money you make. This includes tax planning, debt restructuring, cash flow awareness, and restructuring your savings so you can access it as an emergency/opportunity fund. This step frees up and increases your cash flow, so you have more to save, and consequently, more to invest. Then, you’ll protect your money with privatized banking, insurance, and legal protection. Finally, you’ll put your money to work and get it to make more by investing in cash-flowing assets to build time and money freedom and leave a rich legacy. About Richard Wilson Richard is a third-generation Eagle Scout, husband and father of 3 living on the island of Key Biscayne, near Miami, Florida. He is the CEO & Founder of the Family Office Club, the #1 largest association of over 2,000 registered ultra-wealthy families and their family offices. Richard also represents 77 investors with an average net worth of $22M through his RIA Centimillionaire Advisors, LLC and the PrivateEquity.com investor portal – where he helps clients access top screened direct investments coming through his investor club. Richard has written three #1 bestseller family office books on Single Family Offices, How to Start a Family Office, and Centimillionaires ($100M+ net worth families). The Family Office Club has the most-watched YouTube Channel in the family office industry and most visited website. Richard has an undergraduate degree in business, an M.B.A., and has studied post-masters psychology through Harvard University’s ALM Division. Links and Mentions FamilyOffices.com PrivateEquity.com Book A Strategy Call Are you ready to take control of your finances and legacy? We offer two powerful ways to help you create lasting impact: Financial Strategy Call – Discover how Privatized Banking, alternative investments, tax-mitigation, and cash flow strategies can accelerate your time and money freedom while improving your life today. Let us show you how to align your financial resources for maximum growth and efficiency. Book a Strategy Call with our team today. Legacy Strategy Call – If you want to uncover your family values, mission, and vision, and create a legacy that’s about more than just money, we can guide you through the process of financial stewardship and family leadership. Save time coordinating your family’s financ

https://www.youtube.com/watch?v=uvUp3vuKYjA Do you want to leave a legacy with an estate plan that transfers wealth and empowers the next generation? Find someone who is helping others do it successfully. And that means tailoring a customized, bespoke plan specifically to your family. Today, we’re talking with highly recognized estate planning attorney, Andrew Howell, about the principles and wisdom he’s distilled from working with ultra-high net worth families and business owners. If you want to know how to entrust wealth to future generations, provide for unity within the family, and leave a legacy of wisdom and opportunity, so you can create an estate plan that transcends generations, tune in now! In This Episode About Estate Planning to Bridge Generations, You’ll Discover:Where Estate Planning Fits into Your Cashflow Creation SystemFamily Vision, Mission, and ValuesHow to Transcend GenerationsRole of Professionals in Building Legacy PlansAbout Andrew Howell Find Out More About Andrew HowellBook A Strategy Call In This Episode About Estate Planning to Bridge Generations, You’ll Discover: Why traditional estate planning fails at increasing family wealth and promoting character development. How the core of the Entrusted model of estate planning is about meaningful relationships. How to transfer wealth in a way that incentivizes work and stewardship instead of producing entitlement. The top 3 eroding effects on generational wealth. Why traditional estate planning that divides assets limits your family's ability to make an impact. Why leaving your money to charity creates a lost opportunity for your family. How to set up your family wealth as a bank to create opportunity, entrepreneurship, and accountability. Why the first priority in leaving a legacy is to know who you are as individuals and a family. Where Estate Planning Fits into Your Cashflow Creation System Encircling your family and assets with a bulletproof estate plan will maximize your peace of mind. But it’s just one small step of a greater journey. That’s why we’ve put together the 3-step Entrepreneur’s Cash Flow System. The first step is keeping more of the money you make. This includes tax planning, debt restructuring, cash flow awareness, and restructuring your savings so you can access them as an emergency/opportunity fund. This step frees up and increases your cash flow, allowing you to save more and consequently invest more. Then, you’ll protect your money with savings, privatized banking, and legal protection. This is where estate planning fits in. You’ll know that no matter what happens to you, your wishes will be carried out, your assets will remain intact, and your wisdom will empower generations after you. Finally, you’ll put your money to work and get it to make more by investing in cash-flowing assets to build time and money freedom and leave a rich legacy. Family Vision, Mission, and Values A successful estate plan isn’t just about legal frameworks - it’s also about meaning. According to Andrew Howell, families that thrive across generations often share more than just money. They also share a common vision, values, and a mission that unites them. While this might sound like typical corporate jargon, it’s actually a practical way to keep your family unified when managing and distributing wealth. When your estate plan reflects your family’s shared beliefs and long-term goals, it becomes so much more than simple paperwork: you might describe it as a blueprint for continuity and stewardship. Whether it’s entrepreneurship, education, or service, documenting your family’s purpose can help future generations make informed decisions about their own lives. In essence, that’s what makes a plan enduring, not just wealth transfer, but clarity of identity. How to Transcend Generations If your goal is to build something that outlives you, then your estate plan needs to do more than just pass down assets. It must create a system for longevity. That’s how you transcend generations, by equipping your heirs with not only resources but also the tools to manage, protect, and expand them. Andrew Howell’s approach encourages families to think of their wealth like a business or bank, one that future members contribute to, borrow from, and are accountable within. This framework encourages responsibility and purpose, rather than mere entitlement. More than legal documents, this kind of planning builds culture. And when your strategy includes financial literacy, leadership development, and stewardship training, it does more than transfer money; it rewires how your family relates to wealth. Role of Professionals in Building Legacy Plans Creating an estate plan that lasts beyond your lifetime isn’t a solo effort. It’s a team sport, of sorts. While your attorney plays a key role in drafting and structuring the plan, there’s often more at stake, especially when your family’s business, charitable giving, or tax strategy is involved. Andrew Howell emphasizes

https://www.youtube.com/watch?v=AO7Y3RkLaFI Want to get the most income later in life? Your success depends not on one product, but the coordination of financial tools and your entire personal financial system. Whether your focus is on acquiring cash-flowing assets or you have a more typical investment portfolio, whole life insurance and annuities can play a critical role. That's why we’re talking with Dr. Wade Pfau, a widely-recognized expert on income strategies with whole life insurance. So if you want to get the most income during retirement, have the greatest chance of not running out of money, leave the greatest legacy, and see why the higher premium of whole life is worth it over "buying term and investing the difference", tune in now! In this episode, you'll find out: Why the typical approach to retirement planning leaves so many in scarcity with the possibility of running out of money. How an integrated strategy using life insurance products with an investment portfolio provides more income during retirement. 3 ways whole life insurance is more than an income replacement that's no longer needed after retirement. Why a financial strategy that includes whole life outperforms “buying term and investing the difference.” How you can spend more during retirement and pass on a bigger legacy. How whole life insurance and annuities provide an “actuarial bond” environment to replace traditional bonds in the typical asset allocation. This divides the functions of growth and income into separate assets, and give you more growth and more income. Why life insurance that uses bonds is better than buying bonds directly. How to preserve your investment portfolio and minimize the sequence of return risk, giving you more income during later years. About Dr. Wade Pfau Wade D. Pfau, Ph.D., CFA, RICP, is the curriculum director of the Retirement Income Certified Professional designation and a Professor of Retirement Income at The American College of Financial Services in King of Prussia, PA. He is also a Principal and Director for McLean Asset Management. Dr. Pfau holds a doctorate in economics from Princeton University and publishes frequently in a wide variety of academic and practitioner research journals on topics related to retirement income. He hosts the Retirement Researcher website, and is a contributor to Forbes, Advisor Perspectives, Journal of Financial Planning, and an Expert Panelist for the Wall Street Journal. Dr. Pfau is the author of several books on retirement income strategies. Dr. Wade Pfau Links and Mentions RetirementResearcher.com Safety-First Retirement Planning: An Integrated Approach for a Worry-Free Retirement How Much Can I Spend in Retirement? A Guide to Investment-Based Retirement Income Strategies Reverse Mortgages: How to Use Reverse Mortgages to Secure Your Retirement Find Out Your Next Step to Time and Money Freedom If you would like to assess your complete financial picture and find your personal best strategy to maximize your cash flow and control, we can help. By the way, we have a free Quick and Easy Privatized Banking Guide that outlines just how Privatized Banking gives you the most powerful storage tank for your cash, PLUS it boosts investment returns, so you can more quickly get to the point where you never run out of cash. If you are ready to personally implement Privatized Banking, alternative investments, or cash flow strategies to keep more of the money you make, book your strategy call with The Money Advantage advisors today. Thanks for Tuning In! Thanks so much for being with us this week. Have some feedback you’d like to share? Please leave a note in the comments section below! Don’t forget to subscribe to the show to get automatic episode updates for The Money Advantage podcast! And, finally, if you like these conversations about building time and money freedom, please rate and review our show on Apple Podcasts to help more people like you find our show. Thanks for listening!

Do you want to leave a legacy for future generations to come, but worry about the gift corrupting them? Are you hoping to pass on meaning even more than the money itself? Do you wonder how to start the conversation? Do you worry if family dynamics will prevent you from communicating your points clearly and in a way that will be received and understood? https://www.youtube.com/watch?v=xH3B2d53bVg Today, we're bringing Tom Michler into the conversation. As a psychologist, he's helped families navigate the multi-generational conversation about financial planning. In addition to transferring financial assets from one generation to another. If you want to give a gift or legacy to the next generation, not just transfer money, to have it do the most good in and through them, and to have healthy communication in the family so you can create a deeply-connected family AND long-lasting wealth, tune in now! In this episode about the conversation between generations, you'll discover:Where Generational Conversations Fit In The Bigger PictureAbout Tom MichlerBook A Strategy Call In this episode about the conversation between generations, you'll discover: Dynamics of multi-generational conversations about the transfer of wealth. How to get rid of regret. Why the transfer of wealth needs a conversation between the giver and receiver about what it means, and how without it, the wealth supply becomes depleted. The difference between a wealth transfer and a gift. How to shift into functional and healthy dialogue about money. How a generational belief system becomes accepted and adopted, and how to remove your blockages to money. Where Generational Conversations Fit In The Bigger Picture Building family wealth and creating a legacy is the capstone of a life well-lived. It’s the end goal of a life and business you love, and the greatest mission of our lives. But we need an entire financial system to support our ability to do the most good. That’s why we’ve put together the 3-step Entrepreneur’s Cash Flow System. The first step is keeping more of the money you make. This includes tax planning, debt restructuring, cash flow awareness, and restructuring your savings so you can access it as an emergency/opportunity fund. This step frees up and increases your cash flow, so you have more to save, and consequently, more to invest. Then, you’ll protect your money with privatized banking, insurance, and legal protection. Finally, you’ll put your money to work and get it to make more by investing in cash-flowing assets to build time and money freedom and leave a rich legacy. About Tom Michler Tom Michler is a Licensed Professional Counselor with over 25 years of experience. He works as an Organizational Development Consultant and Professional Facilitator. The consistent theme in Tom's career is working with groups of people from all walks of life. Tom's work also includes working with an adult homeless population (Peter and Paul Community), sexual offenders, (Vianney Renewal Center) refugee children/families (New Dimensions Soccer), and homeless teenagers (Covenant House). Tom's specialty as a counselor is Family Counseling. Tom is also a Certified Energy Medicine practitioner. An interest in metaphysical concepts has evolved Tom’s business toward the facilitation of what is known as The Law of Attraction. For instance, this is for clients looking to maximize their life experience. As an OD consultant, Tom has worked with numerous organizations in the areas of Mission/Vision development and delivery. In addition, hiring practices, leadership development, group facilitation and communication skills. Tom brings an understanding from the field of science as related to the quickly evolving field of energy and Conscious Awareness. Tom's professional facilitation experience includes working with the St. Louis Archdiocese in regards to parish mergers, hosting teleseminars, working with numerous groups of area grade school and high school Principals, and was the host of his own radio show from 2011-2013, entitled Mind Games: The Psychology of Performance. Tom is the co-founder of a local nonprofit organization, New Dimensions Soccer, which utilizes sports as a mechanism for life skill development/instruction for children living in under-resourced areas of St. Louis. Founded in 2004, NDS serves well over 1,000 children per year, in both afterschool settings and soccer leagues. Tom is married with 2 grown children. His hobbies include fly fishing and gem mining. Tom is a follower and practitioner of the Wim Hof Method. Book A Strategy Call Are you ready to take control of your finances and legacy? We offer two powerful ways to help you create lasting impact: Legacy Strategy Call – If you want to uncover your family values, mission, and vision, and create a legacy that’s about more than just money, we can guide you through the process of financial stewardship and family leadership. Save time coordinating your