How do you maximize growth in your policies (and outside your policies) with strategies like the Infinite Banking, Bank On Yourself or The Perpetual Wealth Code™?
This can depend partly on how your policies are designed. If you have a policy that is “maxed out” under the Modified Endowment Contract rules you might not be able to maximize the policy much more. What then?
When your policy growth and guarantees are maximized it’s time to look to your money management for the optimal growth opportunities. Listen for details on the balance to make this all work for you so you can stop losing money and keep more of the money you make.
Celebrate #InternationalPodcastDay this week by sharing your Favorite Podcast Shows and entering to win a set a Beats Headphones on September 30th:
Many budget systems give you a good feeling as you start, but cannot produce the sustainable results you need to build real prosperity. As an example take Senator & Presidential candidate Elizabeth Warren’s book which recommends a 50-20-30 budget system.
This budget system reminds you of a typical government budget when you realize that only 50% of your income is allocated to necessities that require 60% of an average American household income. Oops!
Maybe you could fit necessities into 50% of your income, especially if your income is above average, but this is not a great plan for keeping more of the money you make OR building prosperity.
Better start with something you know will be sustainable and a plan to NOT lose the money you save. Try the 10-20-70 system and make sure you “pay yourself first”. This system has been around for a long time. You know it will be sustainable and if you can save more than 10% (or 30%) of your income, all the better.
Special guest Dustin Mathews from WealthFit has seen people MAKE a lot of money in the Speaking & Marketing world, but KEEPING that money is another story - they usually don’t. Yes, there are shooting stars that burn brightly for awhile and they burnout too.
It’s good to ask yourself, from time to time, whether you want to stay on the path you’re traveling or if, like Dustin was, you’re addicted to the search for a BIG payday that never comes. Don’t simply follow a primrose path to the detriment of real wealth in your life. Make sure you create sustainable results for yourself and your family.
Dustin has repurposed his life to make more time for family and the things that really matter. And he hasn’t neglected Money either because money is an important part of Wealth.
Hear how Dustin has used his whole life policy + a lesson he learned that could save you money on your next vehicle purchase.
Get your cabin on the Wealth Cruise: Cruise Information here or call 702-660-7000
Get the McFie’s WealthFit courses here:
Note: When you get these courses there is an optional upgrade to access ALL courses on the WealthFit platform. If you try that, but decide not to continue after the free trial be sure to check that it doesn’t renew automatically anyway. This seems to be a technical problem which the WealthFit team is still working through.
Disclaimer: Life Benefits does not recommend or endorse any other WealthFit courses, content or strategies.
Compounding is wonderful when it’s working continuously for you - and not so wonderful when large losses interrupt the process. But you don’t have to lose money if you don’t gamble with risk. ♠️
You can’t always trust what people tell you to do with your money, but you can watch what wise people are doing with their OWN money. Warren Buffet says to be “Fearful when others are greedy and greedy when others are fearful.” Stock-piling cash when other people are greedily chasing the market, can be a great strategy; then instead of gambling with risk you can take more calculated risk (if & when you wish) and you can secure a compounding foundation of guarantees.
Start with guarantees and you can build a financial portfolio with both guarantees and results from calculated risk. Start by gambling with risk and you will never see the full potential of guarantees in your portfolio.
Disclaimer: Life Benefits its agents, and representatives are not authorized to give investment, legal or tax advice.