833 How To Build Wealth Without Wall Street
I know there\u2019s some of you who are out there wholesaling and making $20-$30,000 a month, but if you stop buying and selling, you know your income is going to go down. So you think about it, and then you may decide to keep a few of your very best deals to try and create some cash flow in your business. But really, what is your long term strategy for building wealth?\n Russ and Joey from Wealth Without Wall Street break down for us the idea of infinite banking. Nobody\u2019s really getting excited about a savings account. The interest you earn is just dinky, and it\u2019s really more like a holding place or a warehouse for your money. In a savings account, your money is accessible, but that\u2019s just about it. Infinite banking is redirecting your savings into whole life insurance policies, just like the bank does.\n The policy Russ and Joey recommend is a dividend-paying whole life policy that\u2019s in a mutual life insurance company. This isn\u2019t like your uncle\u2019s policy with some sort of steady premium. And it doesn\u2019t have an immediate return either. But we\u2019re playing the long game here, with an eye on a horizon at least 3 or 4 years out.\n This is not a traditional whole life policy where you put in your $500 a month and have a million-dollar death benefit. You\u2019re going to be putting a lot of cash into this vehicle that\u2019s immediately accessible, and that you can use as collateral to borrow money against. Russ and Joey share:\n \u2014How their clients use these policies.\n \u2014How to reverse engineer a policy based on the cash flow you need.\n \u2014How they use the whole life policy in their own lives.\n \u2014How you can use this policy in real estate deals.\n I know this is a whole new topic for a lot of you, and I know I had trouble wrapping my brain around it in the beginning. That\u2019s why Russ and Joey are offering my community access to their courses. They really believe that you need tools, you need education, and you should definitely understand this before you start investing in it.\n What\u2019s Inside:\n \u2014How to borrow against the collateral of an insurance policy.\n \u2014Joey and Russ discuss the differences between term and whole life insurance policies.\n \u2014They share how their clients are using these policies to fund real estate deals.\n \u2014The difference between a savings account and a warehouse (hint: not much).
\n