The Money Advantage Podcast

Do you want to give your kids the best possible chance at life, but you’re afraid of spoiling them, or worse? Are you concerned that leaving an inheritance will only end in disaster? Learn why "leaving an inheritance to my great-grandchildren" is a good thing and how to do it. Many parents are undecided about whether they want to leave an inheritance to their children. They fear raising ungrateful “trust fund babies” or leaving their kids with money they cannot possibly be good stewards of. Some parents didn’t receive an inheritance at all, so they don’t think their own children could possibly need it. https://www.youtube.com/live/x-tY0oVUqcU But what if you could leave an inheritance not only to your children but your grandchildren, and even your great-grandchildren? It’s not about how much money you have, it’s about how you prepare your children to take good care of that money and become value creators in their own right.  Today, we’re talking about how the Marshall family approaches money and inheritance, and how you can begin preparing your kids to be great stewards of your legacy now and later. Learn how and why I am leaving an inheritance to my great-grandchildren, and you can too. Tune in now! The Inheritance SpectrumThe Marshall Family ValuesHave Your Kids Create ValueLeaving an Inheritance to My Great-GrandchildrenFinancial Wisdom for KidsBook A Strategy Call The Inheritance Spectrum Leaving an inheritance to your children or grandchildren can be a tricky subject to navigate. There are many pros and cons to both leaving or not leaving an inheritance that has a lot to do with HOW you go about it. In our case, we think inheritance is a spectrum of sorts. On one end, you’ve got those who are just dumping money on the next generation without much preparation or care. On the other side of the spectrum, you have people who are intentionally withholding an inheritance for various reasons. Then, you have everything in between.  The side that is against leaving an inheritance generally comes from two schools of thought. Some people believe that they weren’t left anything, and so their children don’t need it either. They want to be selfish with their money, and they want their kids to figure it out on their own. The other camp is the parents who don’t wish to ruin their kids by spoiling them or leaving them with a cushy life without developing the work ethic or business savvy to keep it. Both sides of this spectrum are pretty extreme and can be damaging. There’s a middle ground that we advocate for that can actually ensure that your legacy lasts for generations, and that’s by building something to leave your children while also raising them to be good stewards of it. This could include involving your kids in the family business, teaching them good money principles, and making sure that they know how to continue growing their assets. By doing this, you create a generation that can do the same with their children so that many generations down the line your family is still prospering.  [09:50] “It’s not the money that causes the problems. The challenge is money brings up all of this emotion… we attach it to our identity, our sense of self-worth.” The Marshall Family Values One of my family’s values is freedom. Most people conjure up the same mental image of freedom, but there are actually two major meanings of the word freedom when we go back to Hebrews in scripture. There’s a good form of freedom and a bad form of freedom. The way that most people conceptualize freedom is to be free FROM something—for example, freedom from obligations. This is why many people think of retirement as one of the ultimate freedoms because they won’t be tied down or expected to do anything.  The other kind of freedom is the freedom to choose—not to be free of obligations, but to pick the obligations that matter to you and develop accordingly. This choice is about service,

Explore the intriguing tax benefits of whole life insurance and the historical events that shaped its landscape. Discover how pivotal legislation from the 1980s transformed financial strategies and the effects of the 1974 move away from the gold standard. Uncover the complexities of Modified Endowment Contracts and how they impact long-term financial planning. This discussion provides valuable insights into leveraging whole life insurance effectively, appealing especially to wealthier individuals seeking disciplined savings and tax advantages.

Do you want to grow and scale a family business, but family business dynamics are getting in the way?  https://www.youtube.com/live/vZkpINzoFts Unlock the secrets to harmonizing family business dynamics and business operations with Savannah Suttle from Schema Consulting to reveal the powerful impact of psychotherapy and marriage and family therapy techniques on family-run businesses. You'll learn how to navigate the complex interplay between evolving family roles and business practices, ensuring a cohesive approach to tackling both personal and professional challenges, especially during generational transitions. Discover the keys to balancing business needs with employee well-being as we tackle the intricacies of role reassessment and transparent communication. Savannah shares her wisdom on creating win-win scenarios where individual growth and business success go hand in hand. We discuss the critical importance of addressing difficult decisions head-on, fostering a culture of open dialogue that prevents fear and conflict avoidance, and underscoring the necessity of placing the right people in the right positions for maximum team morale and efficiency. Finally, we explore the essential strategies for scaling family businesses, emphasizing radical transparency and effective communication. Savannah guides us through the pitfalls of over-relying on long-standing employees without proper succession planning and highlights the importance of nurturing the next generation's authenticity and innovation. From strategic leadership transitions to fostering a shared vision, this episode equips you with the tools to ensure your family business remains vibrant and appealing for future generations, creating a lasting legacy of wealth and collaboration. So, if you want to discover how your family businesses can navigate complex dynamics and turn challenges into opportunities to grow your reach, impact, and team ... tune in now! How Behavior Therapy Leads to Family Business DynamicsNavigating Family Business GrowthMaking Tough DecisionsPassing Businesses from Generation to GenerationBook A Strategy Call How Behavior Therapy Leads to Family Business Dynamics While now Savannah works with family businesses, she got her start in behavior therapy, specifically marriage and family therapy. What’s unique about this field is that it’s a structural form of psychotherapy—if you can change the structure of the family, you can change the dynamic of the family. So changing one piece of the system will change the whole system.  This structure is very close to, and even overlapping, with business structures. And if you have a family business, the dynamics are even more entwined. What Savannah found is that some of her clients who had family businesses had cemented some of their family dysfunction into their business operations. The problem is that at one point the dysfunction was actually functional, and served a positive purpose at one point. But then, over time, the business/family outgrew those roles or procedures, and yet they left them baked into the process. Those dysfunctions are then difficult to remove because the family has not come to terms with who they have become and what they need.   [04:53] “Who you were when you started the business is probably not who you are now. And what you needed then is probably not what you need now.” Navigating Family Business Growth One of the ways in which family businesses may fail to adapt is how they scale. It’s one thing to manage a team of 10 people—especially when you know and love them—and another thing to manage a team of 150 people. The challenges of a team of 150 are different even from a team of thousands.  [09:32] “The problem is when you start scaling and you’ve got a lot of people now, it’s usually a matter of headcount. Then all of a sudden you only have 24 hours in a day and you can’t talk to everybody and build relationships with everybody.”

Explore the fascinating world of whole life insurance loans and how they can create your personal banking system. Discover the benefits of tax-free growth and the strategic use of cash value as collateral for non-recourse loans. Learn why policy loans aren't considered debt and how mutual insurance companies provide financial stability. Unravel the Infinite Banking Concept and its emphasis on long-term strategies for loan repayment. Gain insights on managing outstanding loans and mastering personal finance for greater control and empowerment.

Today, we're talking with Anna Kelley, impact real estate investor, multifamily operator, and real estate mentor and coach, about the state of real estate investing. https://www.youtube.com/live/7AneSvWF6tQ With today's federal debt and high inflation environment, Anna cautions that it's time to be in capital preservation mode, not focused on cash flow and appreciation.   So if you want to see how to invest during times of uncertainty, and understand the signs of the times to determine when to use value add vs. buy and hold strategies in different economic cycles, tune in now! With a wealth of experience spanning multiple economic downturns, Anna offers invaluable advice on understanding macroeconomic trends and adapting investment strategies. We also tackle the realities of working from home, the normalization of disruptions, and how the professional landscape has evolved post-COVID-19. Join us as we dissect the intricate dynamics of today's real estate market. Anna Kelly shares her journey from humble beginnings to becoming a prominent real estate expert. We delve into the risks and rewards of various investment strategies, from syndications and non-traded REITs to distressed commercial properties, emphasizing the importance of informed decision-making amidst rising interest rates and economic uncertainty. Through real-world examples, we explore the impact of social media on investment behaviors and the necessity of a cautious, well-researched approach. Understanding Real Estate Investment CyclesWhere Are We Now?Tips for Commercial and Residential Real EstateAbout Anna KelleyConnect with Anna KelleyBook A Strategy Call Understanding Real Estate Investment Cycles [14:22] “It doesn’t matter how smart you are, it doesn’t matter how good your job is [or] how much you know about investing, and how much you know in real estate. If you’re not really paying attention to the macro signs that things are shifting, you can make some really bad decisions about debt and go into it at the wrong time. And you can make some really bad decisions about the stock market and anything you invest in.” In 2009, Anna Kelley decided she would never be blindsided by the marketplace again. She took the initiative to learn about market cycles and how to pay attention to major shifts in the market. Now that she understands the market cycles, she finds that Warren Buffett’s advice is timeless and true: “Be greedy when everyone’s fearful, and be fearful when everyone’s greedy.” At a very high level, investment cycles begin at a “trough,” or a recession—basically when things have not been going well economically. This is the point at which interest rates drop in an effort to get people spending again. This recession period can generally last anywhere from 10-18 months, and then the following 2-3 years are often when the economy wakes back up again and people start to feel comfortable. It's not an overnight process, Kelly shares, but one that takes time. People have trouble trusting the economy at first, so it takes a while to build that trust back up. Then, you get to the expansion period. This is the peak of the investment cycle, and while it can seem like a great thing, it also signals that the next recession is on the way. It might take a few years, but you’ve got to be aware of what is going on around you to take advantage of the cycles. [21:11] “At the moment that there is absolute panic and everybody’s afraid, that is the maximum point of opportunity.”  The reason this part of the cycle is rife with opportunity is that there’s less competition, and lots of people aren’t thinking about opportunity. If you can buy when things are at a low point and just hang on to them, you’ve got a leg up on the market. In Anna’s personal opinion, we haven’t seen the end of the recession yet, we’re still at the top of it, and it will likely take some years to recover from that. Despite that,

Inflation causes everything to feel more expensive, so what do you do to protect your money from inflation? Today, we’ll explore the link between inflation and fractional reserve banking and how Infinite Banking is the sound money solution. https://www.youtube.com/live/ay4aDG2phBg A thought-provoking journey through inflation, fractional reserve banking, and the revolutionary concept of infinite banking. This episode promises to demystify how the traditional banking system and increased currency supply fuel inflation, challenging widespread misconceptions.  You’ll gain a deeper understanding of inflation’s root causes by contrasting liberal views with Austrian economic theories, and learn how your everyday choices can influence market prices and how they relate to the average rate of return on your money. Next, we shift gears to tackle the often-overlooked topic of healthcare pricing elasticity. Hear real-life stories about how informed consumer decisions can lead to significant savings on prescriptions and medical procedures.  Discover practical strategies for price negotiation without confrontation, and understand the ripple effects of increased money circulation on the economy. We’ll also discuss the impact of government policies like minimum wage hikes on business expenses and overall market pricing. Finally, explore a smarter financial strategy that sidesteps the pitfalls of fractional reserve banking. By leveraging whole life insurance policies, you can protect your assets from inflation and achieve greater financial security.  Rachel and Bruce explain the benefits of mutual insurance companies, which maintain robust reserves, and how these practices can create a more stable personal economy.  This episode is packed with insights into what fractional reserve banking does and actionable advice to help you take control of your financial destiny and build a prosperous future. So, if you want to learn how to ensure more economic stability and prosperity, tune in today! What You’ll LearnWhat Is Inflation in a Fractional Reserve Banking System?The Nature of Banking Under the Fractional Reserve SystemAvoiding the Risks of Fractional Reserve BankingResources:Book a Strategy Call: Explore Alternatives to Fractional Reserve BankingFAQs About Fractional Reserve BankingWhat is fractional reserve banking in simple terms?How does fractional reserve banking create inflation?Why does this system disadvantage savers?Is fractional reserve banking used everywhere?What’s the alternative to using traditional banks?Can I learn more about how banks really operate? What You’ll Learn What fractional reserve banking is and how it quietly affects your financial stability Why the fractional reserve system contributes to rising prices and weaker dollars How inflation is created—and why it punishes savers the most The surprising connection between bank loans and money creation What fractional reserve banking does to your purchasing power over time How government policies and circulating currency impact market prices Why Infinite Banking may offer a safer, more predictable alternative What Is Inflation in a Fractional Reserve Banking System? We all feel the effects of inflation, but what is it really? Inflation is when a dollar becomes less valuable. This is why bread used to cost a couple of nickels and now costs more than a couple of dollars. One of the major reasons for inflation is that our banks continue to pump more dollars into the banking system, decreasing the overall value of a single dollar.  Our current banking system, fractional reserve banking, allows banks to keep only a fraction of their customers’ money in reserves. This means that banks can do more business than they actually have available.  While this can stimulate the economy on some level, this also means that money is being created out of thin air. This is what the fractional reserve system does: it exp...

Are you trying to decide which type of life insurance to buy? You want to protect your family in case something happens, so how do you do it best? https://www.youtube.com/live/QDyfZjPaMgc Whole life insurance is often rejected as expensive and a poor “investment,” while mainstream opinion leans in favor of the “buy term and invest the difference” strategy, which involves opting for cheap insurance coverage and investing the dollars you save. We’ll guide you through the compelling story behind the “Buy Term and Invest the Difference” strategy, a concept born from Art Williams’ personal experiences in the late 1960s.  By examining the benefits and pitfalls of this popular approach, we empower you to make informed decisions tailored to your unique financial goals and risk tolerance. Explore the vital distinctions between whole life and term life insurance, and learn why a one-size-fits-all solution may not serve your best interests. Through relatable analogies and real-life examples, we break down the often misunderstood aspects of life insurance, helping you see the bigger picture. We also address the psychological and financial barriers that many face when considering life insurance, sharing insights from LIMRA and Dr. Wade Pfau on how whole life insurance can provide a stable safety net during economic downturns. Finally, we delve into the concept of becoming your own banker, illustrating how this alternative perspective can offer unparalleled financial flexibility and security.  By understanding the sequence of returns risk and leveraging whole life insurance loans during market downturns, you can protect your investment portfolio and ensure long-term financial stability. Join us for an episode packed with actionable insights and strategies to enhance your financial planning journey. What You'll LearnWhat Is Whole Life Insurance?What Is Term Insurance?Quick Comparison TableThe Buy Term Invest the Rest Strategy ExplainedThe Discipline ProblemMarket Risk and Investment Coverage Gaps and Health ChangesTerm Policies: 1% Pay Out RateWhole Life Insurance: 100% Payout RateTerm Premiums Skyrocket, Whole Life Stays Level What You'll Learn Why the buy-term, invest-the-rest approach only works with perfect execution (and why most people fail) The hidden costs that make term insurance more expensive than you think over time Why less than 1% of term policies ever pay out—and what that means for your family The discipline problem: why people buy term but never actually invest the difference How market volatility can destroy years of disciplined investing overnight Why getting priced out of term coverage as you age creates a dangerous protection gap When this strategy might actually make sense (hint: it's rare) A better approach that combines guaranteed growth, tax advantages, and permanent protection The Myth of “Buy Term and Invest the Difference” The idea of “buy term and invest the difference” is really common in the financial sphere because, on the surface, it seems to make a lot of practical sense. After all, you’re being told “buy cheap insurance to get the protection, then build your wealth in investments.”  The problem is that this strategy doesn’t work with certain goals. There isn’t a singular, perfect insurance strategy to trump all else. There are myriad ways to get coverage, depending on what you want out of your dollars. Many people believe that Art Williams is the origin of this phrase; after his father passed, the whole life insurance death benefit didn’t seem as large as what a term insurance policy could have been, and for less money. He felt strongly that his father had been sold the “wrong” policy, and so his life’s mission became to get rid of whole life insurance.  Curiously, he partnered with a mutual company, and the phrase “buy term, invest the difference” was born.  Breaking Down Insurance, Investments, and More So,

Do you want to make a difference that lasts for generations? If you have children or grandchildren that you want to benefit, bless, and uplift, you can make plans now to accomplish that priority. Before you start planning, though, there are two essentials you'll need. These two components will help you get started and follow through so that you complete your plans.   https://www.youtube.com/live/KxXNLrJJwz0 Rachel Marshall's near-death experience during childbirth was more than just a life-changing event; it was a wake-up call that transformed her perspective on the fragility of life and the urgency of planning for the future.  This episode urges us to rethink our priorities and embrace a mindset that transcends personal gain to create a ripple effect of positive impact. Rachel's poignant story serves as a powerful reminder that our current mindset shapes our behaviors and results, urging us to seize our resources to make a meaningful, lasting difference for future generations. Join us as we explore how shifting from self-centered thinking to an impact-driven approach can revolutionize both our personal lives and professional endeavors.  Rachel emphasizes the importance of building generational wealth and fostering family enterprises that serve not just ourselves but our descendants. We delve into the concept of creating multi-faceted wealth—encompassing financial, human, social, intellectual, and spiritual capital—using the ancient Iroquois' seven-generation perspective as inspiration.  This episode is a compelling call to action to adopt long-term thinking and commit to creating value for others, laying the groundwork for a legacy that promotes human flourishing across generations. Tune in today to get equipped with the right mindset so you can ensure your efforts to provide for your children, protect your family, leave an inheritance, complete your estate planning, pass on family wealth, and train your children will leave a lasting impact. Personal Crisis to LegacyTwo Essentials for Lasting ImpactThe Decision to Create WealthThe 7-Generation LensBook A Strategy Call Personal Crisis to Legacy If you want to leave a legacy, make a difference, and leave the world a better place, you will have to think differently and become a different person to do it. Legacy wasn’t always on my mind; there was a time when I took my life and health for granted. It wasn’t until a personal crisis that I came face to face with reality: life is not guaranteed.  After an already difficult birth, my situation took a turn when I began losing an overwhelming amount of blood, and I ended up needing a full blood transfusion. Our family was faced with the very real possibility that I would not make it. I'm grateful to be here today, but I'm also profoundly grateful for the complete shift that experience was for how Lucas and I approach life and legacy. Tomorrow is not guaranteed, do not wait to make positive change and prepare your legacy. [05:10] “The fact that our lives are not guaranteed makes us realize that we have power today while we have our mental faculties and our breath to be able to do so much that will impact the lives of our children and grandchildren beyond us.” Two Essentials for Lasting Impact If you’re ready to create lasting impact for your children, grandchildren, and many generations beyond that, you’ve got to change your mindset. It’s not as simple as it sounds, however. Our actions follow our thinking, so it’s critical that you’re not just changing your behaviors to try and achieve results. You’ve also got to change your mind. That way, you’re living and embodying the transformation you’re trying to achieve, rather than paying it mere lip service.  [06:15] “If you just try to do the right tactics and strategies and figure out what the successful people are doing, and you just try to implement behavior… the challenge is you can exhaust yourself… when your mindset is still over...

Delve into maximizing financial windfalls through life insurance policies, strategic funding durations, benefits of convertible term life insurance, and integrating significant windfalls into policies. Explore using windfalls wisely like a sailboat, avoiding modified endowment contract laws, and cash flow strategies aligned with individual financial goals and circumstances.

Exploring the misconceptions around dividend rates in Infinite Banking, revealing why they don't matter. Emphasizing the importance of qualitative factors and company stability in selecting the right insurance company. Discussing the impact of guaranteed interest rates on insurance contracts and the value of setting up an Infinite Banking policy for accessing liquid capital and compound growth.