The Money Advantage Podcast

https://www.youtube.com/live/qPXJGJyg7z8 Have you ever had a moment where you suddenly realized that what truly matters isn’t all the hustle, the accomplishments, or even the legacy you’re trying so hard to build? That was Josh, standing in his driveway on a vacation in Florida, juggling his entrepreneurial dreams while feeling the weight of parenting. He was caught in that mental struggle we all face—balancing the demands of work and family, trying to get everything done while making sure He's present for the moments that really matter. Then a friend said something that stopped him in my tracks: “You’ll never have a six-month-old son again.” Those words hit him hard. It wasn’t just a reminder about the fleeting nature of time; it was a call to be present, to focus on what truly matters—his family—a call to be famous at home. Why Emotional Safety is the Key to SuccessAbout Josh StraubEmotional Safety: The Foundation of Lasting RelationshipsBalancing Identity: Who You Are vs. What You DoLiving in Abundance, Not ScarcitySlowing Down to Speed Up: The Importance of Rest and RhythmsHow Emotional Safety Can Transform Your Family and LegacyLearn More with Famous at HomeBook a Strategy Call Why Emotional Safety is the Key to Success In today’s fast-paced world, where we’re all striving to build financial security, career success, and lasting legacies, it’s easy to forget the importance of the relationships that matter most. We often spend so much time focusing on what we can achieve that our families end up getting our leftovers. But what if I told you that the secret to true success—both at home and in business—comes from creating emotional safety in your family? During my conversation with Josh Straub, co-author of Famous at Home, we dove deep into this idea of emotional safety as the foundation for everything else. Whether you're raising kids, building a business, or nurturing a marriage, emotional safety is the core element that allows you and your loved ones to thrive. I’m going to share key takeaways from my conversation with Josh about how you can build emotional safety, cultivate stronger relationships, and ultimately create a lasting legacy—one that goes beyond financial success. About Josh Straub Josh is most renowned for his role as a husband and dad. He is also a recovering human, an ongoing journey that includes therapy, coaching, a tight-knit faith community, and staying fit. Josh is a speaker, author, marriage and leadership coach, and a podcast and TV cohost. He and his wife, Christi, lead Famous at Home, a company equipping leaders and corporations in emotional intelligence and healthy family systems. Josh is also a Fellow of the Townsend Institute for Leadership and Counseling. Josh most enjoys coaching leaders to be famous at home so they can thrive on their stage. He also speaks regularly for Joint Special Operations Command and serves military families across the country. Josh is author/ coauthor of six books including Safe House: How Emotional Safety is the Key to Raising Kids Who Live, Love, and Lead Well. He and his wife, Christi, host the Famous at Home podcast and co-wrote a recent children’s book, to help parents foster emotional awareness in kids, called What Am I Feeling? Emotional Safety: The Foundation of Lasting Relationships Josh and his wife Christy started their journey by asking a simple but profound question: What matters most when we look back on our lives? After facing their own challenges early in parenting—including colic, acid reflux, and the stress of family illnesses—they realized that despite all the advice from parenting experts, the one thing that truly mattered was creating emotional safety in the home. Emotional safety isn’t just about keeping the peace; it’s about making sure that your family feels heard, seen, and loved. It’s the hub of the wheel, the center from which everything else—discipline, communication, and even financial success—flows. Without emotional safety, all the strategies in the world won’t help you build a thriving family or a successful business. In my own experience, I’ve found that when we neglect emotional safety, we end up creating environments where our children and spouses feel unseen, which leads to disconnection and frustration. But when we prioritize emotional safety, we create a space where everyone can flourish—because they feel valued, understood, and loved. Balancing Identity: Who You Are vs. What You Do One of the most striking insights from Josh was his take on identity. In our society, we often confuse who we are with what we do. From the time we’re children, we’re asked, “What do you want to be when you grow up?” This question sets us on a path where our worth becomes tied to our job titles, our achievements, and our external success. But as Josh reminded us, our identity isn’t in what we do—it’s in who we are. And for those of us building businesses and legacies, this is a crucial distinction. If we tie our identity to our success, we end up chasing something that’s never fully satisfying. We’re always striving for more, and our families end up getting our leftovers. Instead, Josh encourages us to find our identity in something deeper—our relationships and our purpose. When we shift our focus from being “famous” in the world to being “famous at home", we start to see that our greatest success comes from how well we love and lead the people closest to us. Living in Abundance, Not Scarcity In our conversation, we touched on a topic that’s all too familiar for high achievers: scarcity versus abundance. Too often, we live with a mindset of scarcity, feeling like there’s never enough time, money, or energy to do everything we need to do. This scarcity mindset drives us to push harder, work longer, and often neglect the things that truly matter—our family relationships. But what if we flipped that script? Josh talks about shifting to an abundance mindset, where we trust that there is enough—enough time, enough resources, and enough love to go around. This shift allows us to be more present for our families, to slow down, and to create margin in our lives for the things that matter most. For example, just this week, Josh shared a story about his daughter losing her kitten. In the middle of a hectic work schedule, he chose to set aside his to-do list and spend time searching for the kitten with his daughter. It wasn’t easy—his brain was screaming at him to get back to work—but he knew that being present for his daughter in that moment was more important than anything else. This is what living in abundance looks like: trusting that by prioritizing our relationships, everything else will fall into place. Slowing Down to Speed Up: The Importance of Rest and Rhythms In a culture that glorifies busyness, it’s easy to fall into the trap of always doing more. But one of the most profound lessons from my conversation with Josh was the idea that sometimes, in order to truly succeed, we need to slow down. Josh and Christy have built rhythms of rest into their lives, including regular Shabbat (Sabbath) practices. These rhythms give them the space to reflect, reconnect, and recharge—both individually and as a family. And while it might seem counterintuitive, slowing down in this way actually allows them to be more effective in their work and their parenting. For those of us juggling the demands of business, family, and everything in between, this lesson is critical. By intentionally creating space for rest and connection, we not only take care of ourselves but also set an example for our children and loved ones about the importance of rest. How Emotional Safety Can Transform Your Family and Legacy At the end of the day, the success we seek—whether it’s in business, financial freedom, or building a legacy—starts at home. If we focus solely on external achievements without creating emotional safety within our families, we miss out on the true fulfillment that comes from being deeply connected to the people we love. By prioritizing emotional safety, balancing our identity, shifting to an abundance mindset, and embracing rhythms of rest, we can create a life that’s not only successful but also deeply meaningful. Learn More with Famous at Home If this conversation resonated with you, I encourage you to dive deeper by listening to the full episode of my interview with Josh Straub on The Money Advantage podcast. We talk about everything from emotional safety to building a family legacy that lasts, and it’s packed with practical insights that you can start applying today. Whether you’re a parent, a business owner, or someone looking to create deeper connections with your loved ones, this is a conversation you won’t want to miss. Let’s commit to being famous where it matters most—at home. Book a Strategy Call Are you ready to take control of your finances and legacy? We offer two powerful ways to help you create lasting impact: Financial Strategy Call – Discover how Privatized Banking, alternative investments, tax-mitigation, and cash flow strategies can accelerate your time and money freedom while improving your life today. Let us show you how to align your financial resources for maximum growth and efficiency. Book a Strategy Call with our team today. Legacy Strategy Call – If you want to uncover your family values, mission, and vision, and create a legacy that’s about more than just money, we can guide you through the process of financial stewardship and family leadership. Save time coordinating your family’s finances while building a legacy that lasts for generations. Book a Legacy Strategy Call to learn more about how we can help. We specialize in working with wealth creators and their families to unlock their potential and build a meaningful, multigenerational legacy.

Many people aspire to build wealth that outlasts their lifetime, but the path to creating true generational wealth is often misunderstood. It's not just about leaving behind a pile of money for your children to inherit. It's about setting up a system that enables your family to continue growing that wealth, generation after generation, while passing down the knowledge and tools to manage it wisely. And I'm here to tell you, this is entirely possible for you, starting right now. I'm Rachel Marshall, and today, we're talking about one of the most powerful concepts in financial success: generational wealth. What does it really mean, and more importantly, how can you create it? What are the top generational wealth building strategies? https://www.youtube.com/live/fgdo8-lUGvQ In this blog, I'll share insights from my years of financial coaching and what we've learned from studying legendary families like the Rockefellers and Rothschilds—families who didn't just achieve wealth but sustained it across generations. If you're ready to shift your mindset and start thinking long-term, you're in the right place. What Generational Wealth Building Is—and What It Isn'tThe Traditional Paradigm Is Failing UsLessons from Legendary Families: The Rockefeller ApproachBreaking the Cycle of "Shirtsleeves to Shirtsleeves"The Importance of Family Unity in Generational Wealth BuildingHow to Start Generational Wealth BuildingConclusion: Building a Legacy That Lasts What Generational Wealth Building Is—and What It Isn't Let's start by clearing up some misconceptions. When most people think of generational wealth building, they imagine building up a massive retirement fund or an extensive investment portfolio they can pass on to their kids. Maybe you've heard it described as "having so much money you can't spend it all, so there's some left over for the next generation." But here's the truth: Generational wealth is not just about accumulation. It's about creation, stewardship, and growth. Yes, having assets like real estate or a successful business is part of it. But generational wealth building goes far beyond the numbers in your bank account. It's about creating a legacy, not just of financial capital but of values, financial literacy, and an entrepreneurial spirit that gets passed down from one generation to the next. Think of it as a relay race. You're not just handing over a baton of wealth; you're giving them the roadmap and mindset to keep building and growing it long after you're gone. The Traditional Paradigm Is Failing Us Most people are taught to work hard, save for retirement, and hope they have enough to live comfortably when they're no longer earning a paycheck. But this way of thinking is flawed when it comes to creating lasting wealth. The typical retirement model focuses on accumulation—how big of a pile of cash can you build before you retire? Then, you live off that pile, hoping it lasts. The problem with this model is that it often leads to "just enough" thinking. You're planning for your needs, and maybe, just maybe, there will be something left over for the next generation. But what if I told you that's not enough? What if the goal wasn't just to accumulate but to build something that multiplies and grows across generations? To do that, you need a shift in mindset. You need to start thinking like the Rockefellers. Lessons from Legendary Families: The Rockefeller Approach Let's look at the Rockefellers for a moment. They didn't just hand over a pile of cash to the next generation and hope for the best. They built systems—through trusts, real estate, businesses, family banking, and financial education—that allowed each generation to continue growing the family's wealth. They saw themselves not just as beneficiaries of wealth but as stewards of wealth, with the responsibility to grow and protect it for future generations. One key difference? They invested in enduring assets—things like real estate and businesses that continue to generate income over time. Real estate, in particular, is a powerful tool for wealth building because it tends to appreciate over the long term and can provide a steady stream of passive income. And it wasn't just about the money. The Rockefellers passed down values, financial principles, and knowledge. They knew that wealth without wisdom is easily lost, which brings us to one of the biggest challenges families face: the "shirtsleeves to shirtsleeves" phenomenon. Breaking the Cycle of "Shirtsleeves to Shirtsleeves" There's a saying that goes: "Shirtsleeves to shirtsleeves in three generations." It means that wealth built in the first generation is often lost by the third. The first generation works hard and creates wealth, the second generation grows up in comfort and perhaps understands what it took to build that wealth, but by the time the third generation comes along, they often lose sight of the hard work and values that created the wealth in the first place. I always emphasize that Generational wealth building is not just about leaving money behind; it's about teaching the next generation how to create, grow, and steward that wealth. If you simply hand over wealth without instilling the values and knowledge that built it, you're setting your family up to lose it. So how do we break this cycle? By involving every generation in the process of wealth creation and stewardship. When your children and grandchildren understand the values and the work that goes into building wealth, they're far more likely to grow it rather than consume it. The Importance of Family Unity in Generational Wealth Building Another critical piece of the puzzle is family unity. You can accumulate all the wealth in the world, but if your family isn't aligned around a shared vision and values, that wealth will quickly be divided and diminished. True generational wealth comes from viewing your family as a cohesive unit, working together toward a common goal. When you foster a sense of responsibility and stewardship in your family, you create a culture where every member understands the importance of protecting and growing the family's wealth. This means involving your family in financial decisions, teaching them about money, and creating a shared vision for the future. It's about more than just financial capital—it's about social capital and human capital. When you build strong relationships within your family and instill values of hard work, responsibility, and collaboration, you're setting up your descendants for long-term success. How to Start Generational Wealth Building If you're serious about building generational wealth, it's time to think differently. Here's where you can start: Shift Your Mindset: Stop thinking in terms of "accumulation" and start thinking in terms of creation and stewardship. The goal isn't to build a pile of cash but to create systems that generate and grow wealth over time. Invest in Enduring Assets: Look for assets that will continue to provide value long after you're gone. Real estate, businesses, and intellectual property are all great options. These are assets that can provide income and appreciate over time, creating long-term stability for your family. Teach Financial Literacy: Make sure your children and grandchildren understand the basics of money management, investing, and entrepreneurship. Financial education is one of the most powerful tools you can pass on to the next generation. Create a Family Vision: Work together with your family to create a shared vision for the future. What do you want your family to accomplish? What values do you want to pass down? Having a clear purpose will guide your financial decisions and help keep your family united. Consider Family Banking: One powerful tool we use in The Money Advantage is family banking. This involves using whole life insurance to create accessible capital within the family. It's not just about the death benefit—it's about having control over capital that you can use to invest in your family's future, while also teaching the next generation the value of financial stewardship. Conclusion: Building a Legacy That Lasts Creating generational wealth isn't just about accumulating money. It's about building a legacy that lasts. It's about teaching your children and grandchildren how to manage and grow wealth, and it's about creating systems and structures that ensure your family's wealth continues to grow long after you're gone. If you're ready to dive deeper into creating generational wealth, start with my book, Seven Generations Legacy. It’s packed with actionable insights and strategies to help you build a strong foundation for your family’s future. Once you’ve explored the principles, let’s take the next step together. You can book a call with me at Seven Generations Legacy®, where we’ll work to create a personalized plan tailored to your family’s unique goals and vision. Let’s start building your legacy today! Let's create wealth that lasts!

Securing generational wealth has never been more critical in today's rapidly evolving financial landscape. It’s not just about safeguarding our financial future; it's about leaving behind a legacy that can provide security and opportunity for generations to come. In this episode, we dive into the Family Banking Formula® concept on The Money Advantage podcast. The insights are empowering and transformative, and I’m excited to share them with you. https://www.youtube.com/live/FZTDxocCGwY We will guide you through the key strategies discussed in the podcast, from the concept of the Family Banking Formula® to the strategic use of whole life insurance. My goal is to equip you with the knowledge and motivation to take control of your financial future, ensuring that you not only secure wealth for yourself but also create a lasting legacy for your family. The Power of the Family Banking Formula®: Building a Financial LegacyGenerational Wealth Through Whole Life Insurance: A Strategic AssetPersonal Banking Within the Family: Creating a Private Financial EcosystemThe Mechanics of the Family Banking Formula®: How It WorksLeveraging Life Insurance for High-Net-Worth Wealth BuildingStability and Risk Management: The Strength of Insurance CompaniesTake Control of Your Financial Future with the Family Banking Formula® The Power of the Family Banking Formula®: Building a Financial Legacy The core idea behind the Family Banking Formula® is to take control of the banking function in your life instead of relying on traditional banks. We use specially designed whole life insurance policies to manage our family bank. At the heart of how we have personally implemented this concept is the Infinite Banking Concept (IBC), which is a strategy that allows individuals to become their own bankers. One of the key benefits of family banking is the ability to pool resources within the family. Imagine a system where you and your family members can borrow money from the family bank to fund various endeavors, whether it’s starting a business, paying for education, or purchasing a home. By doing this, you keep the wealth within the family, allowing it to grow through uninterrupted compound interest. This approach not only benefits you and your immediate family but also sets up future generations for financial success.  Successful family banking isn't just about having the right financial structures in place—it's about adopting the right mindset, teaching future generations financial literacy, and providing accountability and mentorship, which are crucial for making the most of family banking. Family banking offers unparalleled access to liquidity, better returns, and reduced taxes. But more importantly, it fosters a mindset that views the family as a cohesive financial unit and promotes long-term financial independence. Imagine your family as a corporation, where each member plays a crucial role in building and maintaining financial health. By pooling resources and making strategic decisions together, your family can achieve financial goals that might seem out of reach if tackled individually. This approach strengthens family ties and lays the groundwork for a legacy of wealth, value creation, and financial literacy that can be passed down through generations. This fits well with the definition of legacy in my book Seven Generations Legacy: Design a Multigenerational Legacy of More Than Money. The definition is: “The character, values, and financial means to live life on your terms that are modeled, taught, stewarded, and given from one generation to the next.” To take it one step further, a perpetual legacy is family wealth and flourishing that grows with each successive generation. Generational Wealth Through Whole Life Insurance: A Strategic Asset One of the podcast's most impactful revelations is the strategic use of whole life insurance to build and preserve generational wealth. Unlike term life insurance, which provides coverage for a specific period, whole life insurance is a permanent policy that not only offers a death benefit but also accumulates cash value over time. This cash value can be accessed during one's lifetime, making it a versatile financial tool. Whole life insurance is more than just a policy; it's an investment in your family's future. It functions much like real estate in that it grows in value over time and can be passed down to future generations. Whole life insurance offers several unique benefits that make it ideal for generational wealth building. First, it provides a guaranteed death benefit that can be passed on to your heirs. But beyond that, it accumulates cash value over time, which can be accessed during your lifetime through policy loans. Additionally, whole life insurance policies often offer creditor protection, safeguarding your assets from potential claims. By integrating whole life insurance into your financial plan, you're creating a reservoir of capital that can be used to educate your children, invest in new opportunities, and provide a financial safety net in times of need. It’s a way to ensure that your hard-earned wealth isn’t eroded by taxes, market fluctuations, or poor financial decisions but continues to grow and benefit your family for years to come. The key is to start early and be consistent, ensuring that each generation inherits the financial assets and the knowledge and skills to manage and grow that wealth. Personal Banking Within the Family: Creating a Private Financial Ecosystem Another fascinating concept explored in the podcast is the idea of personal banking within the family. Think of it as creating your own private financial ecosystem, where you manage and recycle capital within the family unit. This strategy allows for uninterrupted compound growth, providing loans to family members, and investing in family ventures—all while keeping the wealth within the family. Imagine a beaver building a dam, creating a thriving ecosystem for itself and its offspring. Similarly, by managing your family's capital, you’re creating an environment where wealth can grow and circulate, benefiting every member of the family. This approach empowers families to invest in each other, whether that means funding a child’s education, supporting a family business, or purchasing a first home. The benefits of personal banking within the family are manifold. Not only does it preserve wealth by keeping it within the family, but it also ensures that the wealth continues to grow with each generation and benefits future generations. This method transforms your family into a financial powerhouse, capable of making impactful investments and supporting each other's financial goals. The Mechanics of the Family Banking Formula®: How It Works So how exactly does the Family Banking Formula® work? The process begins with purchasing a whole life insurance policy, which serves as the foundation for your family’s financial system. As you pay premiums into this policy, the cash value of the policy grows. This cash value can then be accessed through policy loans, allowing you to borrow against your policy without disrupting the growth of your cash value. One of the most significant advantages of family banking is that it allows for uninterrupted compound growth. When you borrow money from a traditional bank, you’re essentially starting over each time you withdraw money from your account. However, with family banking, you can borrow against your policy while the cash value continues to grow. This means that your wealth is always working for you, even when you’re using it. The podcast also highlighted the importance of working with a knowledgeable advisor to set up and manage your family banking system. It’s crucial to design the policy correctly from the start to ensure that it meets your family’s long-term financial goals. Additionally, having a plan in place for how loans will be repaid and how the policy will be managed over time is essential for maximizing the benefits of this strategy. Leveraging Life Insurance for High-Net-Worth Wealth Building For those with significant assets, whole life insurance offers a powerful strategy for wealth protection and growth. Historically, wealthy families, like the Rockefeller's and Walt Disney, have used life insurance as a cornerstone of their financial strategies. These families understood the benefits of tax mitigation, creditor protection, and the ability to pass on wealth securely through trusts. Whole life insurance provides more than just a safety net for your family in the event of your death. One of the most powerful aspects of whole life insurance is its ability to pass on wealth securely through an irrevocable trust. This ensures that your wealth is distributed according to your wishes, without being depleted by taxes or creditors. It’s a strategy that has been used by some of the wealthiest families in history to ensure that their legacies endure for generations. Stability and Risk Management: The Strength of Insurance Companies In today’s uncertain economic climate, stability is more important than ever. Mutual insurance companies offering whole life insurance provide a level of stability that traditional banks can’t match. Unlike banks, which are susceptible to runs and other financial crises, insurance companies have historically maintained their strength and continued to pay dividends, even during economic downturns. When you purchase whole life insurance, you’re not just buying a policy—you’re placing your trust in an institution with a long history of financial stability. Insurance companies are built to honor their commitments, making them a safer bet for your long-term financial strategies. The contractual guarantees offered by whole life insurance, combined with the stability of the companies that provide them,

Is the age of short-term rentals over? If you ask Marilynn Taylor, who coaches investors on successful short-term rental investments, the answer is a resounding no. All it takes is a true understanding of the market and the customer who is seeking a short-term rental. https://www.youtube.com/watch?v=oM80zjphe60 In this insightful conversation with Marilynn, we learn how her investing paths all led back to short-term rentals over and over, thanks to her unique ability for interior design and hospitality. She was in the game long before the rise of Airbnb, and she has stayed successful in the marketplace because she knows what the upstarts in the market forgot---quality matters. Marilynn walks us through the ups and downs of short-term rentals, what it takes to be successful, and how to get involved in the space in a way that works for your life's vision. For an inside look at the world of short-term rentals, tune in now! Airbnb and the Rise of Short-Term RentalsShort-Term Co-HostingHeed RegulationsInfinite Banking and Short-Term RentalsAbout Marilynn TaylorConnect with Marilynn TaylorBook A Strategy Call [05:45] “For some people, the world of finances, real estate investing, and all of that is because they just want to get rich. But if we really back that down for a minute and ask ourselves why we want that, I think that the answer, for the majority of people, is they want security. They want to live a nice life. They want to not feel stressed about going out and buying groceries or giving their kids a ballet lesson.” Marilynn was heavily motivated by her external circumstances, and she knew that she wanted to break the cycle of financial troubles and challenge her family’s mindset that being rich meant you were greedy. While Marilynn began her career as a professional dancer and later a makeup artist, her path eventually led her into real estate investing, which eventually evolved into interior design. One of her early properties was in Cape Cod, and the thing to do was turn it into a short-term rental. After doing some research, she furnished and decorated that property, as well as a second one, and discovered she had a knack for interior design. Her path also led her to being featured on HGTV, and at one point Marilynn believed she would be a house flipper. The lifestyle, however, didn’t suit her, and so she returned to the short-term rental space. Now, many years later, Marilynn coaches other investors on the short-term rental game. Airbnb and the Rise of Short-Term Rentals Marilynn got into short-term rentals before Airbnb was on the scene, and that company certainly transformed the market in many ways. Marilynn even resisted Airbnb for a long time because it took the personal touch out of short-term rentals. All communication happens online or in-app, and it creates barriers between you and your host. [12:53] “Now, what I think a lot of people see when they see social media content about short-term rentals—especially since Covid—it was a gold rush during that time. And so many people rushed into short-term rental as a get-rich-quick scheme. It was just a cash cow, and it didn’t matter where they bought, where they invested, how they invested, what they even put out into the market—they were just going to bring money in. And for a year and a half or two, that was true. But the harsh reality of the actual industry has slapped a whole lot of investors in the face at this point.” The reality? You have to put quality out there, and you have to provide value. Now that the market is saturated, it’s not enough to have just any old room with a bed. People care about their location, the amenities, and more. The market is saturated with places that are filled with cheap accommodations and little to no care, and people are waking up to that. That’s not what they want anymore.  [15:30] “What I recommend to people when you’re searching for what is the right type of real estate investment for [you], is really truly digging into what does the back end look like? How much effort is really involved?” You have to decide what you want your life to look like and then find something that fits into that vision. If you want to have a work-free investment, short-term rentals are not the way. Short-term rentals are about hospitality, and that takes work, even if you have a team. For Marilynn, her bread and butter is creating amazing experiences for people on short-term stays. If that’s not something that interests you, it’s probably not the business for you. Short-Term Co-Hosting A more recent development in short-term rentals is what’s called a co-host. Co-hosts are people who manage and run your short-term rental on your behalf, sort of like a management company, except it’s typically more personal. As a property owner, having a co-host is a great way to relinquish some of the responsibility, while also ensuring that there is still a personal touch.  Boutique co-hosts are Marilynn’s preferred way to partner with people because they’re not in over their heads or too busy with hundreds of properties. Finding good help is difficult, so working with people who are aligned with you and good at what they do is essential.  No matter what, you still have to remain a leader for your business. You want your team to feel valued and taken care of, just like your guests, and you also want to ensure that they have a little bit of oversight. Even the best team members can let quality slip when you step away and try to let the boat steer itself.  Heed Regulations If you’re looking to get into short-term rentals, you have to be aware of the regulations and the landscape of your particular market. More regulations are happening every day, and many places are cracking down on Airbnb and rentals. You also want to be clear about what rental law is and what makes you a landlord. In some states, a 30-day tenancy makes you a landlord, and therefore subject to a different set of rules. If you do not know the rules of the game, you cannot play, and even when you do know the rules, you should be aware that some people may be against you.  If you do not pay attention to laws and regulations, you might find yourself on the other end of a shutdown or another unfortunate and costly scenario. If you’re shut down, one of the worst-case scenarios is that you lose that investment (furniture, renovations, etc.). You may also find yourself with broken or stolen goods, squatters, and more. There are even some people who rent with the sole purpose of getting you taken off the site because they do not like Airbnb. Infinite Banking and Short-Term Rentals As with any investment, you must have a way to finance it. The Infinite Banking Concept utilizing Whole life insurance provides a pool of money which you can use to finance new mortgages, make down payments, and more. And the major key is that you can replenish that pool so that you have meaningful funds for retirement and other phases of your life.  Of course, to make and take loans, you’ve got to be successful in creating cash flow, which all comes back to the question: Why are you getting into this business? Are you getting into short-term rentals because you’re passionate, because you want to provide value, etc? Or are you looking for a get-rich-quick scheme? Because the latter is going to fizzle out, while the former will give you longevity, purpose, and satisfaction on top of income.  [01:05:30] “Nelson used to say this all the time—people need to be in two businesses. They need to be in the banking business, and they need to be in the business that makes them money.” About Marilynn Taylor Marilynn has a rich and wonderful creative background, as well as a background in numbers, but you can take it from her. Here is an excerpt of her About page on her website. Today I am a full time short & mid term rental coach with a focus on guest experience & design with a mission to help and support the Heart Centered Host™ achieve their dream lifestyle….time, location & financial freedom. Today I’m invested in luxury short-term rentals, one in wine country Central California and partnered in a lake property in Michigan and actively adding to my portfolio. I see a lot of self professed “experts” out there with only a few years of experience or who have only hosted one property who are offering a lot of questionable advice to hosts with situations very different than theirs. I have hosted my personal home in Los Angeles, a large homes in a very remote seasonal area + tiny homes in the CA desert and each one needed a different approach & strategy. Since day 1, I learned the importance of a beautifully designed space + an amazing guest experience.  Over the years, I have become an expert in guest experience + hospitality, wowing my guests for a 5 star review even when things don’t go perfectly. My short-term rentals are a way for me to pour my love and care in to other humans and it is incredibly rewarding. Hosting also comes with a lot of responsibility and personal liability that most hosts never think about and often they put too much faith in the listing platforms to protect them. I apply both legal and business strategies that build in protection for the host, while simultaneously building guest vetting & relationship building in to your entire automated process from listing to finalized booking. Connect with Marilynn Taylor Marilynn Taylor Resources Contact Marilynn Book A Strategy Call Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? We can help!  Book an Introductory Call with our team today https://themoneyadvantage.com/calendar/, and find out how Privatized Banking, alternative investments, or cash flow strategies can help you accomplish your goals better and faster.

What happens when you balance rigorous research with actionable steps in financial education? Drawing inspiration from Nelson Nash’s teachings and Becca Wilhite's book "Beaver Bankers," we explore how building your own financial dam can help you navigate the overwhelming flood of social media content. We’ll highlight the importance of wisdom over information and how to create a solid understanding of the Infinite Banking Concept (IBC). https://www.youtube.com/live/TXRrkhh-yXY Discover Becca Wilhite's introduction to whole life insurance in 2020, which challenged her previous beliefs shaped by Dave Ramsey and led her to embrace the principles of the Nelson Nash Institute. This pivotal moment not only transformed her financial strategy but also inspired her to write a children's book, Beaver Bankers, that cleverly uses the analogy of beavers building dams to teach financial stability and security. We also tackle the hotly debated topic of Dave Ramsey’s financial advice versus the Infinite Banking Concept. While Ramsey’s methods have undoubtedly helped many escape debt, our discussion highlights the limitations of his narrow focus on mutual funds. Becca’s dedication to mastering and teaching IBC emphasizes the importance of mentorship in making complex financial concepts accessible.  We wrap up with a fascinating look at how life insurance can be strategically used for generational wealth. Tune in for a thought-provoking episode that promises to reshape your perspective on financial strategies. Dave Ramsey and IBCBeaver Bankers Book Reveals the Secrets of IBCBringing Kids on Board with BankingBook A Strategy Call Dave Ramsey and IBC Depending on who you ask in the IBC community, Dave Ramsey is a hot topic. After all, he’s staunchly against whole life insurance and IBC strategies. However, our take is a little less extreme. He can’t be a total scam, or else he wouldn’t still be doing what he’s doing. What Dave is good at is helping people get out of debt and build the discipline necessary to be good candidates for IBC. He’s just not a great wealth builder. But when you realize that, you realize he’s not a bad guy.  Becca’s views were shaped early on by Dave Ramsey until she realized that there was a lot of merit to the Infinite Banking space. To get there, it required an open mind.  [14:21] “If you would be curious enough to maybe spend a few hours reading a book, I think you might discover—if we could all have a little bit of humility—hey, I might not be right. And these things that I’ve thought and been taught my whole life, there may be a better way.” Don’t be afraid to learn new things, adopt a beginner’s mindset, and stretch the boundaries of what you know. Knowledge cannot harm you, it can only make you a deeper and more critical thinker. This is how Becca grew in her understanding, and what led her to becoming an IBC Practitioner in her own right. Beaver Bankers Book Reveals the Secrets of IBC Some people are good verbal communicators, others are good written communicators. Becca happens to be great at communicating concepts and ideas with the written word, as evidenced by her children’s book. This endeavor was not something Becca predicted for herself, and yet one day she found herself wondering if there were ways that nature could tell the story and principles of IBC.  It was this line of thought, and her faith, that led her to researching beavers. It was just a little inkling in the back of her mind that she knew was divinely planted, so she followed through. At the beginning of her research, all she really knew was that beavers built dams. Interestingly, the reason that they build the dams is to create a more favorable environment for themselves. Beavers aren’t that great on land, and they can’t really thrive in rushing water, so they build dams. The dam turns fast-flowing water into a pond that’s ideal to live in. It provides protection, security, food, shelter, and supplies.  IBC, on the other hand, is about taking money that was previously flowing away from us and collecting it in a “pond” so that it’s right where we need and want it to be.  This idea rolled around in Becca’s head for a few months before she officially decided to make it into a story one day. After sending it to Bruce, who endorsed it with much encouragement, she continued to take steps toward publishing: finding an illustrator, formatting, and eventually going through Amazon to publish what is now “Beaver Bankers.” Bringing Kids on Board with Banking One of the reasons Becca’s book is so powerful for children and adults alike is because it reframes the idea of banking. Those who are unfamiliar with Infinite Banking as a concept typically approach the idea with some apprehension. After all, it doesn’t seem possible to bank without a bank. Yet by showing that even beavers showcase these banking principles, it makes banking a lot easier to apply outside of that specific financial context.  Suddenly, people begin understanding that banking is not so much where you put your money, it’s how you manage your money and the choices you make with your dollars. We can all be like beavers and build our own ponds that are exactly what we need them to be—safe, secure, and accessible.  You can purchase Becca’s book on Amazon today. Book A Strategy Call Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? We can help!  Book an Introductory Call with our team today https://themoneyadvantage.com/calendar/, and find out how Privatized Banking, alternative investments, or cash flow strategies can help you accomplish your goals better and faster. That being said, if you want to find out more about how Privatized Banking gives you the most safety, liquidity, and growth… plus boosts your investment returns, and guarantees a legacy, go to https://privatizedbankingsecrets.com/freeguide to learn more.

Discover the key habits that distinguish the wealthy from those struggling financially. It’s about self-discipline, personal awareness, and nurturing an abundance mindset. Engaging with positive influences can propel personal growth and success. The conversation emphasizes intentional living and strategic financial practices for a fulfilling life. By recognizing unique abilities and mastering financial awareness, individuals can cultivate sustainable wealth. Finally, embracing long-term vision and delaying gratification paves the way for lasting financial achievement.

Explore the transformative potential of Infinite Banking while avoiding common misconceptions. Discover the pivotal mistakes in policy illustrations and the importance of planning premium payments wisely. Learn to balance safety, liquidity, and growth for optimal financial success. Understand how to design a sustainable Infinite Banking policy and overcome mental barriers to get started on your financial journey. Empower yourself with practical strategies and embrace a proactive approach to wealth management!

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, and it allows you to build a fulfilling life that has incredible ripple effects. When you instill this kind of mindset within the family, you see how it creates this wellspring of good not just inside of your family, but outside of it. And this kind of freedom naturally attracts money, because money is a result of providing value in the marketplace. We’ve seen the positive evidence of this approach in our own family, and we know the seeds are there for our children to be good stewards of the family legacy.  Have Your Kids Create Value In our family, we decided not to give an allowance to our children and instead encouraged them to create value. This eventually led to our daughter creating her own business, after attending a five-day course that helped her think about the many ways in which she could provide value. The idea had to be both something she was interested in AND something that people wanted and would be profitable.  Eventually, our daughter decided she wanted to bake and sell cookies, so we workshopped ways in which this could be a recurring, profitable business. What we landed on was a cookie club, where she made and delivered cookie dough for people to bake in their own homes so that they could enjoy the freshly baked cookie smell. Her business is now in its fourth year and still going strong.  Even now, we’re always talking about ways to improve and develop cookie club while also slinging other possible business ventures. So now our children are considering all of the ways that they can provide value to other people, and it’s incredible to see her grow in this way. If you have children that aren’t quite ready to start a business yet, you can still instill these principles through chores, because chores provide value to the family. There’s a wide variety of age-appropriate chores that your children can do, and these responsibilities help them be contributors. Additionally, think about what chores are expected on an ongoing basis and what chores are above and beyond that you might pay for.  Once your children are earning money, be sure to teach them good stewardship of that money, too. Help your children to save a percentage of their money. When our daughter started earning money, we encouraged her to give 10%, save 40%, and use the other 50% how she chose. This is a priority. [29:00] “Whatever you put your attention on is the thing that’s going to grow. And if you celebrate something and you reward your children for something—you bring it up on a regular basis and you compliment them and you praise them for something—that’s going to be the thing that they want to continue doing.” Leaving an Inheritance to My Great-Grandchildren Our inheritance for our children and grandchildren lives in a trust so that it will exist well beyond us and benefit our family for generations. The money is designed to be used based on our family values, to fund things that we would do while we’re living. The family bank includes stipulations for repaying the money, as well as caveats for when that money need not be paid back.  Our intention with this is to create a money supply that is going to last and last well beyond us, without “spoiling” anyone or encouraging poor stewardship. This trust is funded by our whole life insurance, and will only grow as the family grows and as death benefits are paid. This is the balance between dumping money and withholding money—creating purpose for our money that our family members are a part of creating.  Financial Wisdom for Kids We’ve actually developed a course called Financial Wisdom for Kids, which identifies five key lessons that your kids must learn in order to handle their inheritance well. The course walks you through how to teach these lessons and includes age-appropriate examples for you to develop these skills at any age.  Get 54% off our Financial Wisdom For Kids, so you can equip your children with the top 5 financial literacy lessons they need and avoid the pitfalls of unprepared heirs squandering their inheritance when you buy Seven Generations Legacy: Design a Multigenerational Legacy of More Than Money for just $4.99 https://sevengenerationslegacy.com/. Book A Strategy Call Are you ready to take control of your finances and legacy? We offer two powerful ways to help you create lasting impact: Financial Strategy Call – Discover how Privatized Banking, alternative investments, tax-mitigation, and cash flow strategies can accelerate your time and money freedom while improving your life today. Let us show you how to align your financial resources for maximum growth and efficiency. Book a Strategy Call with our team today. Legacy Strategy Call – If you want to uncover your family values, mission, and vision, and create a legacy that’s about more than just money, we can guide you through the process of financial stewardship and family leadership. Save time coordinating your family’s finances while building a legacy that lasts for generations. Book a Legacy Strategy Call to learn more about how we can help. We specialize in working with wealth creators and their families to unlock their potential and build a meaningful, multigenerational legacy.

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.” When you start a small, family business, you typically know exactly who you’re working with and how you’ll be working with them. However, as you continue to grow, you cannot expect these same systems to work with the same results.  One solution is systematizing your structures so that you’ve got efficient communication in any business structure you may have, rather than having endless catch-up meetings and making people chase information. But if that worked for you with a small team, it may be baked into your business even as it grows, causing some real miscommunication and struggle. What you cannot do is just hope it will get figured out—it won’t. You’ve got to create the structure so that people can fit into it. Making Tough Decisions In addition to building your team as you grow, you also need to build the right team, in the right ways. Sometimes, this means that you need to approach certain problems in a way that keeps morale high and strengthens bonds. Other times, this means you need to transition away from people who are not working within your team anymore. This is difficult as a business owner, especially if you have had a long relationship with someone.  [14:29] “The decision itself is often scary. It’s scarier more than painful… It’s only scary because you think there might be a possibility of a bad outcome. Okay, great—let’s design outcomes that work for everybody. And I know that sounds easier said than done, but it’s actually pretty doable.” If a team relationship is no longer working for your business, you’ve got to make a change. And you can focus on having positive outcomes and communication through it all. How can you as a business owner get what you need and want, while also having a positive transition with the person in question?  [16:51] “I think a lot of times people end up getting pretty conflict-avoidant, and conflict avoidance is a recipe for being taken advantage of in business. And that’s true whether you’re the owner or the employee.” By avoiding what needs to be done, all you can do is stagnate. Passing Businesses from Generation to Generation If you’re building a family business, there’s going to come a time when you pass the reigns to the next generation, whether that’s your children or other relatives who have expressed interest and competence in the field. This can be a tricky transition even when it seems like there’s a desire from the next generation because you’re not just handing over a fortune. You’re handing over processes, procedures, employee relationships, culture, and so much more. If the next generation has been involved with the business before transitioning, this might be an easier process. However, even that is not without its challenges. This also means that right now, if you’re building a family business, you’ve got to start thinking about these things. How will you involve the next generation now? How can you pass on the things you’ve learned, as well as the context in which you learned them? You have got to prepare your family to take over the business if that’s what you wish. [32:47] “This is a relay race, it’s not just a solo marathon. I mean it can be if you want it to be, if that’s how you’re going to participate in your life. But if you expect that you’re just going to solo marathon it and then somebody else is going to solo marathon it and there’s not really going to be an overlap or a clear baton pass, you’re setting yourselves up for failure. Because what happens is that the first generation will pave the way, build the things, and kind of hoard all this tribal knowledge and context. They understand how and why they built the things they did, they made the mistakes. Then they have Gen Two come along, who takes over, and if they have not done a good enough job of passing along a lot of that context… Gen Two learns that they are not supposed to make mistakes and they are not supposed to change anything… [they] just need to keep the wheels on the wagon.” This may not seem like such a bad thing until you consider the NEXT 30 years. When Gen Three comes along, if nothing has changed, it’s going to seem terribly outdated and there are going to be so many questions and hurdles that could be impossible to overcome. They might not even want to take up the mantle. And so while the business lasted beyond you, it still doesn’t have lasting power. [35:18] “The vision itself is not sufficient. You have to allow for people to step into their own authenticity within a framework of collaboration. They have to figure out how to continue working as a team. They have to figure out how to incorporate change.” Book A Strategy Call Are you ready to take control of your finances and legacy? We offer two powerful ways to help you create lasting impact: Financial Strategy Call – Discover how Privatized Banking, alternative investments, tax-mitigation, and cash flow strategies can accelerate your time and money freedom while improving your life today. Let us show you how to align your financial resources for maximum growth and efficiency. Book a Strategy Call with our team today. Legacy Strategy Call – If you want to uncover your family values, mission, and vision, and create a legacy that’s about more than just money, we can guide you through the process of financial stewardship and family leadership. Save time coordinating your family’s finances while building a legacy that lasts for generations. Book a Legacy Strategy Call to learn more about how we can help. We specialize in working with wealth creators and their families to unlock their potential and build a meaningful, multigenerational legacy.