Today's Flash Back Friday comes from Episode 872, originally published in August 2017.
Jason welcomes Patrick Donohoe of The Wealth Standard Podcast to discuss the dirty details of pensions, insurance policies and Ponzi schemes. Jason describes the difficulties and common mistakes average retail investors make when investing in financial services. And, Pat gives a comprehensive overview of how to make the most of your existing policies in order to invest your money in the most historically-proven asset class, income property.
Key Takeaways:
[02:25] Is the US a giant Ponzi scheme?
[05:31] Understanding the difference between pension benefit plans and contribution plans is essential.
[15:15] The financial service industry preys on retail investors.
[20:49] Harry Markopolos is waiting to capitalize on a market correction.
[27:09] Analyzing the patterns and mistakes of the middle-class investor.
[35:27] The Wealth Standard Podcast focuses on helping individuals understand the comprehensive nature of the economy.
[37:49] Pat explains how policyholders can reduce their risk and get investment money for cash-flow properties.
Mentioned in This Episode:
Be Your Bank
The Wealth Standard
The Wizard of Lies
401K Jail Article
Venture Alliance Mastermind
Creating Wealth Real Estate Investing with Jason Hartman