The Money Advantage Podcast

If you want to be successful with your finances, you need to conquer Parkinson's Law and taxation obstacles. But first, you must rethink your thinking and question everything you've been taught. By taking personal responsibility and examining your mindset, you can overcome the temptation of excessive consumerism and debt. Delaying gratification and spending less than what you make are key to defeating Parkinson's Law and achieving financial stability. So start educating yourself and find what works for you.

What do the 25,000 self-made $100M families in the US have in common? Discover the secrets to skyrocketing your career and achieving wealth and happiness with our special guest Emmy Sobieski, a CFA, Amazon #1 bestselling author of $100M Careers, and an expert in investing and entrepreneurship. https://www.youtube.com/live/5nmGpa0LKk8 Emmy's journey from humble beginnings recycling aluminum cans to running the top fund in the world is a testament to the power of embracing a growth mindset and celebrating milestones along the way. Transitioning from a corporate job to a startup isn't an easy feat, and Emmy shares her insights on how to navigate this change with strategy and balance. We also delve into the world of investing, as Emmy recounts her rapid success and the importance of staying humble in the face of market volatility. Join us as we explore the concept of positive serendipity and how to create a growth and open mindset to invite opportunities your way. We discuss the importance of taking big risks early in your career and how to "moonshot" your career and life. So if you want to learn the best path to $100M, the biggest mistakes, how long it takes to get to $100M, and how to be happy and wealthy... tune in today! What’s the Secret to Wealth?Emmy Sobieski’s Path to WealthPivoting from Investor to MentorThe 3 Cs of EntrepreneurshipThe Biggest Career MistakesConnect with Emmy SobieskiAbout Emmy SobieskiBook A Strategy Call What’s the Secret to Wealth? Most people would love a secret solution to wealth and abundance. If there was just one thing you could do that made it so simple. However, life rarely works that way. There’s no get-rich-quick scheme. There is, however, a secret. It’s probably not what you’d expect, and it’s that creating the best version of yourself is how you build wealth. You are your own secret weapon. By investing in your own skills, knowledge, health, and more, you can create wealth for your family for generations. This requires constant growth because you’ll never know everything. When you recognize this fact and commit to lifelong learning, your life can bloom in many ways.  [4:16] “I talk about it often, where I say you’ve got to moonshot your career. Too many people underestimate their own potential, myself included.”  By committing to yourself and the continued progress of your career, you can maintain and even build energy for what you do. Once you deplete your energy and excitement for something, it’s incredibly difficult to find that energy again. Emmy shares that she sees people take years or decades to get out of this low-energy funk. So you’ve got to follow your energy and nurture it wherever it takes you. Don’t make the mistake of thinking that once you “arrive” at your goal, there’s nothing left for you.  Emmy Sobieski’s Path to Wealth For Emmy, there was no decision about her career trajectory–things seemed to fall into place naturally. When she was a teenager, she collected aluminum soda cans to recycle them for money. By 16, she had saved up $1,800, and her dad helped her to open her first investment account.  Her dad gave her four companies to choose from, so Emmy chose to invest in United Artists, which was a movie theatre that sold more than just popcorn. This decision helped her to quadruple her money. So her dad gave her four more companies to choose from, and Emmy put her money into a company owned by her dad’s friend. This quadrupled her money again. Emmy’s investments were so successful that she ended up with half a million dollars in her 20s.  In her mid-20s, she lost this money and had to build it back up from scratch. Fortunately, she was successful in that endeavor, too. In 6 months she went from -$30k to $90k, while in grad school. Her friend suggested that people would pay her for that, and in 5 years, Emmy was running the number-one fund in the world.  Pivoting from Investor to Mentor There are 25,

Explore the power of whole life insurance dividends and how they contribute to long-term growth and efficiency. Learn about the benefits of infinite banking and how it combines financing and insurance. Discover the potential impact of generational wealth and creating lasting legacies. Uncover the significance of dividends in whole life insurance policies and the guaranteed rates. Dive into the efficiency and benefits of whole life insurance as infinite banking. Join the conversation about infinite banking and access a free guide on privatized banking systems.

If inflation is on your mind, you’re not alone. With three years of high inflation figures and your pocketbook saying it’s even higher every time you buy groceries, how will your money keep up? Can Infinite Banking overcome inflation and provide a long-term solution? https://www.youtube.com/watch?v=-6wZtPKGOHI Today, we discuss a listener question about how Infinite Banking can be used to combat inflation. We also discuss the five tenants of infinite banking, such as 'don't do business with banks,' how it can help in an inflationary environment, and how life insurance policies are interest rate driven. Finally, we explore stewardship and generational wealth, discussing the concept of 'human life value' and how clever insurance strategies can be leveraged to benefit future generations. How Does Inflation Happen?Can Infinite Banking Overcome Inflation?Inflation vs. Death BenefitOvercoming Inflation in a Tax-Free EnvironmentPremium Improves with InflationFamily Banking - The Next GenerationsBook A Strategy Call How Does Inflation Happen? [1:47] “Inflation is simply the increase of the money supply. And people argue about this all the time, but Milton Freeman said that only the government can increase the money supply, so the government is solely responsible for inflation.”  When the money supply increases too quickly, there’s an oversaturation of money compared to goods on the market. This raises demand for goods, while supply is low, and prices increase to account for that. When prices for certain products or goods increase, this tends to affect the prices of other correlated goods.  Can Infinite Banking Overcome Inflation? We recently had a very thoughtful question from a podcast listener that we wanted to address. It’s such a powerful question that we think you’ll benefit from reading it in his own words, as follows:  “Thanks for the content. I'm of the belief that inflation is not transitory (I'm 44 yrs old and I remember when a candy bar was $.50). I am a student of the Austrian School of Economics and only think that inflation will be exponentially worse as the U.S. monetary policy continues to stay the same (increasing the money supply) as that is their only option unless politicians want to be responsible which we know they won't be.   A method that has worked in the inflationary environment since 1971 when gold was dropped completely is to borrow money and pay it back in cheaper dollars (think 30-year mortgage on a house).   I love the thought of IBC in normal monetary times but I just can't wrap my head around how a death benefit (30 years from now (ideally)) will be worth much as prices continue to increase. And I think I would rather borrow from the bank and pay them back with the cheap dollars instead of doing that disservice to myself..... I just think that the dollar will only devalue more and more and I'm not understanding how IBC has any defense against that. Everything else is great about it in my mind.” As you can see, he’s put a lot of thought into this topic, and we’re excited to unpack it with you now.  Inflation vs. Death Benefit There are several reasons that your whole life insurance Death Benefit is still a powerful tool even with inflation. First and foremost, the whole life insurance dividend is interest-driven. This means that as the Federal interest rate rises and falls, so does the dividend. This also affects the guaranteed interest portion, too. This means that you tend to do better than in a savings account alone. Add this to the compounding effect of your cash value, and that slow and steady growth is going to be powerful. Remember, too, that with PUAs as your Cash Value grows, so does your Death Benefit. The two are intrinsically linked since the Cash Value represents the equity of your Death Benefit. You could start with a DB of $1 million and end up with several million by the time you pass, or your policy endows.  Remember, too,

Uncover the hidden cost of capital in your financial decisions. Learn about the benefits of having control over your debt and become your own banker. Discover how Infinite Banking reduces the cost of capital and allows you to optimize your financial decisions. Explore the concepts of always paying interest and opportunity cost. Understand the role of actuaries and underwriters in managing an insurance company. Learn about the investment strategies of mutual insurance companies and the stability they offer. Discuss the guaranteed values and dividends of a policy, as well as the costs of legalization. Emphasize the importance of understanding and evaluating the concept of infinite banking.

Simon Severino, a strategy advisor for F500 Boards from NY to Beijing, helps companies scale by discovering how to run their company more efficiently. From digital agencies to service and SaaS businesses, Simon's work results in sales that soar. He is the CEO and Founder of consulting agency Strategy Sprints, and Creator of the Strategy Sprints® Method that doubles revenue in 90 days by getting owners out of the weeds. His insights are sure to help you scale your business and stay at the forefront of your industry, whatever that may be. https://www.youtube.com/watch?v=mR35UW3Jwz4 Tune in as we interview Simon Severino to discuss how to double your revenue, so you can create more freedom, impact, and revenue every month. The Beginning of Strategy Sprints®Scale Your Business with the 9 Stages of a SaleFalling in Love with the Problem, Not the SolutionConnect with Simon SeverinoAbout Simon SeverinoBook A Strategy Call The Beginning of Strategy Sprints® Simon began his career in market strategy, and what inspired him most were the entrepreneurs and business owners that were truly passionate about that work. These are the people who, if Simon identified an area for improvement, would happily stay at work longer to solve the problem.  Still, Simon saw that there was room for improvement, so he put his head down for a year to create a methodology that would make sales much more efficient.  [6:19] “We focus on the B2B sales problems. So the length of the sales cycle, the complexity of the sales cycle. So that’s why our method is really for the high ticket B2B offers, that is. Consulting agencies, marketing agencies, PR agencies, recruiting agencies, financial advisors, attorneys–everybody who has a high ticket offer and needs just a few big deals, a few good clients per quarter.” Scale Your Business with the 9 Stages of a Sale In Simon’s Strategy Sprint® Method, there are 9 stages of a sale that you have to go through with your client to complete a transaction. These stages are:  Visualization Pains Importance COI Budget Concerns Decision Start Date SOW The first step, visualization, is what Simon describes as “closing the loop” between what you say and what’s landing with the client. This could mean providing a visual while you’re speaking to a client so you can bridge that communication gap. Doing this builds rapport with clients and helps them to trust you. The second step is about finding out your client’s pain points. What is frustrating them? Only then can you identify how to help them. [10:39] “It’s so interesting how so many people want to go straight to a product or a solution, when if you don’t have a problem you’re trying to solve, then there’s no solution that matches.” The next steps are to figure out how important this is to your client in the grand scheme of things. Then, determine the “Cost of Inaction” or COI. What will happen if your client doesn’t do anything? (We would call this opportunity cost.) After that, determine your client’s budget, address any concerns they have, and have them make a decision. You may have multiple decision-makers, so this can take time and coordination. Finally, you determine your start date and create a statement of work (i.e. a contract).  [13:25] “The number one enemy of sales is the status quo–’I can just do nothing.’” Falling in Love with the Problem, Not the Solution [28:55] “Whatever your offer is, if you fall in love with the solution, there will be a much better solution soon. Technical solutions always, always innovate.” In other words, by falling in love with solutions, you run the risk of being slow to adapt to new technology and advancements. By falling in love with the “problem,” you ensure that you’re always seeking new and even better solutions. This helps you to stay flexible and innovative. As a business owner, you want to be seeking innovation.

Learn about the laws of the Infinite Banking Concept and how to capitalize and manage your own bank. Explore the history of banking and the process of saving and lending. Discover the advantages of using insurance companies to lend you money. Gain freedom by controlling your own banking function and creating a sustainable family banking system.

Every year, IBC practitioners and advisors convene at the Nelson Nash Think Tank.  Here, some of the best advisors in the Infinite Banking space remember the core truths of Infinite Banking, improve their understanding and ability to serve you, and "sharpen iron."   https://www.youtube.com/watch?v=-lRc64JVi0E Bruce attended the 2023 event earlier this year, and today, we'll share the highlights with you. So if you wished you could have attended and would like to be in the know about what matters most for you as an Infinite Banker ... tune in now! What is the Nelson Nash Think Tank?Preserving the Purity of Infinite Banking with the Nelson Nash Think TankOvercoming the Human Condition in FinancesThe Conversations and Speakers of Think Tank 2023Book A Strategy Call What is the Nelson Nash Think Tank? The Think Tank is an annual event hosted by the Nelson Nash Institute to talk about IBC and connect with like minds. Prior to 2009, which is when Bruce became involved with Think Tank, the event was your typical Mastermind type of event. People in the insurance industry with an interest in IBC would get together and share best practices for running a business.  In 2013, the IBC practitioners program came to be, and the event reached its “next level,” as Bruce recalls. The practitioners’ program is a way for advisors who are interested in the Infinite Banking Concept to become certified. This ensures that advisors who use IBC strategies (and advertise such) can be held to a higher standard. That way, clients who want IBC can work with a highly qualified IBC professional.  [6:21] “[Bruce] has attended what I would call probably the most elite… conglomeration of minds that are coming together and discussing Infinite Banking.” Preserving the Purity of Infinite Banking with the Nelson Nash Think Tank The IBC Practitioner program was designed by Nelson to ensure that advisors who were sharing IBC with their clients were upholding it to the highest standard. Otherwise, what Nelson noticed was that people would say they promoted it, only to have incorrect ideas about how IBC worked, which was damaging the perception of IBC.  In order to be a certified IBC practitioner, you have to go through a rigorous process that ensures you have a good understanding of the concept. So if you want to implement IBC specifically, you can actually work with a certified practitioner to be confident you’re getting what you want.  The process starts with an interview, where the NNI makes sure that applicants have the right mindset for IBC. This means you understand Austrian economics, you want to solve people’s need for capital, you understand that you finance everything you buy, and you see the benefits of life insurance on a large scale.  The next step to becoming a practitioner is to take a proctored exam. Once you pass, you then go through a mentorship program where you work with a current, certified IBC practitioner. Finally, you get to become a fully certified member, which culminates in receiving your certificate at the Think Tank. As you can see, it’s an incredibly thorough process. [15:43] “This, hopefully, enables people to find a person that was either trained directly by Nelson like I was, or by people that were trained by Nelson, to actually uphold the integrity of the actual Infinite Banking Concept, and not some of the things that are marketed as the Infinite Banking concept.” Overcoming the Human Condition in Finances [24:15] “Nelson actually is helping people overcome the human condition of how they handle money.” As human beings, there is a huge emotional aspect of finance that is hard to overcome. We’re only human, and we all have to face these deep-seated emotions we have about our money. What Nelson Nash has done with IBC and his institute is to help people overcome these emotions and find a sense of control and freedom. A good IBC practitioner will help you see the long-term eff...

Learn how controlling your financial environment can turn a financial drag into financial fuel. Nelson Nash emphasizes that the need for financing is greater than the need for savings. By eliminating the need for finance, you can shift that money into savings. The podcast also discusses the importance of developing good money habits and highlights the impact of financing costs on overall financial well-being. They introduce the concept of infinite banking and emphasize the importance of mindset change for financial success.

If you’ve paid any attention to the news recently, then you’ve probably heard about what’s happening with the Silicon Valley Bank. The news isn't good, and it's probably raising some questions. We’re here to unpack what you might be thinking about. Like, are we entering a banking crisis, and what does this mean for the greater economy? How does Infinite Banking compare? https://www.youtube.com/watch?v=kqOWPOdD8eY In this podcast, we'll examine the factors that led to the Silicon Valley Bank collapse, and how Infinite Banking can be a solution. Join us for a discussion of the state of banking, and how you can best prepare to weather any economic storm. Is This Normal?The Timeline of the Silicon Valley BankHow Do Banks Get Behind? Reserve Requirements for Banks and Insurance CompaniesInsurance Product vs. CashCould Life Insurance Companies Be Safer Than Banks? Bank-Owned Life InsuranceResources for Bank Failure InformationIs There a Banking Crisis? Book A Strategy Call Is This Normal? We want to start this conversation by sharing that boom and bust cycles are a natural part of any market when the free marketplace is working. This means there will be inevitable highs and lows for everything. Those who are savvy can learn to time the markets by paying attention, although no one does this perfectly 100 percent of the time.  What sets people apart is the assets they can control with certainty. And one of the many positives of Infinite Banking is that life insurance is not correlated to the stock market. So despite what’s happening in the economy, your cash value is safe and certain. This is the kind of protection that is not even guaranteed when all of your money is in the bank. It’s critical to build your foundation on something strong and within your control.  The Timeline of the Silicon Valley Bank To get a good understanding of what’s happening with the Silicon Valley Bank, it’s worth examining the timeline. At the time of this crash, Silicon Valley Bank was the 16th largest bank in the country and had been just 40 years old. The crash occurred because of large withdrawal attempts and is the largest crash since 2008.  On January 1st of this year, the bank had $91 billion of held fixed income securities or held maturities. They also had $200 billion in assets, mostly Venture Capital and tech assets. Out of the $91 billion, the bank’s unrealized loss was going to $15 billion if people pulled out of their maturities due to a need for increased liquidity. They knew they’d be in trouble for the reserve requirements.  On March 8th, the bank announced that they needed to shore up their balance sheet and raise $2 billion in capital. They proposed a sale of their bond portfolio at a $1.8 billion loss, but there were no interested buyers.  On March 9th, customers began to withdraw due to impending trouble, and the bank’s stock fell 60%. On March 10th, the Silicon Valley Bank failed to meet its reserve requirements, so the FDIC stepped in and seized control. The fear, it seems, stems from the reality that this was a huge bank that seemed like it could never fail. No one expected it to, so when it did, people got extremely nervous about their banks and their ability to meet their needs as well.  The problem is that when people are fearful and lose faith in the banks all at once; it creates a vicious cycle. Because the more people that pull their money out at once, the harder it is for banks to meet their reserve requirements and other obligations.  As Bruce points out in the show, this is also the first time such a large bank failure has occurred in the age of social media, and so the information is more readily accessible. While it’s good to be informed, this can also lead to a lot of fear because things spread like wildfire on social media.  How Do Banks Get Behind?  [8:50] “What happens here is we’ve been going from a very low interest rate, almost no interest rate,