Multiply Your Money-with Chris Naugle-EP71

During today’s episode, host Jeff Pfitzer continues his conversation with money expert Chris Naugle, co-founder and CEO of The Flip Out Academy, and founder of The Money School. In this episode, Chris dives deeper into his strategy for paying yourself first to multiply your money. Episode Highlights:  Chris Naugle provides a recap of his first LCA interview, which centered on a banking concept created by the Rockefellers because they didn't trust banks. They used mutually-owned insurance companies as an alternative to traditional banks.  When Chris asked what wealthy people were doing with their money, privatized banking came up every time. You can use mutually-owned insurance companies and a whole life insurance policy as a banking instrument. Wealthy people started using this system when they realized this was a place where they could put their money with a guaranteed return and a dividend. The insurance company uses their account to collateralize the loan and they never have to be paid back. Contractually the insurance company has promised to pay a death benefit upon your demise. They subtract the loan from the death benefit. The wealthy use this product to take an advance from their death benefit. With these plans, you'll have access within the first thirty days. You can pull this money out at any time and use it as you please. Ideally, you never have to pay that loan back. The insurance company will charge 5% interest. You still make 1.2% on money that you're using. Every year you are compounding at a higher number. You are using a standard whole life vehicle from a mutually-owned insurance company that is non-direct participating.The only way to access their general account returns is through this vehicle. They give up 60-90% commissions because of how these accounts are designed. Chris explains why banks have so many vice presidents. Rich people are not just magically good at investing money. They get giant death benefits paid back into their trusts to fulfill the desires of the next generation. This is a strategy that can work for everyone. Chris provides a detailed example of how he has personally used this system. The minimum to make this work is to take your age, times it by ten, and that will give you your minimum monthly. The advantage here is that this vehicle allows you to have your money while using it to make more money. Many famous companies employ this strategy. Chris shares how he will end up with a 40% cumulative return for the account he set up for his daughter. Will your 401k give you a 40% return? People don’t know about this because they haven’t been taught how money works. 3 Key Points:   This system allows you to pay yourself first and then pay everyone else while still earning uninterrupted compound interest.   The advantage here is that this vehicle allows you to have your money while using it to make more money.   This system allows you to move your money around the way banks and wealthy people do.  Resources Mentioned: LCA Marketing Center: LCAmarketingcenter.com Lab Coat Agents: LabCoatAgents.com Chris Naugle website, Instagram Episode 69 The Money Multiplier video Mapping Out The Millionaire Mystery free book After watching the video text "moneymultiplier" to 33777 for more information. Connect with Lab Coat Agents: Lab Coat Agents on Facebook Lab Coat Agents on Twitter Lab Coat Agents on Instagram Lab Coat Agents Facebook Group