The Wealth Without Wall Street Podcast

Do you remember having a piggy bank when you were a kid? You would get excited as the money accumulated until you could no longer stuff more cash inside. The amount of money you could store in it was limited to how big your piggy bank was. So you’d have to buy another piggy bank. That’s basically the way life insurance works. The type of policy you have will determine the way your cash value accumulates over time. There are specific policies that allow you to put extra money into the system to increase your cash value. But keep in mind that there are limits to the amount of cash value you can accumulate in relation to your death benefit. For example, if you overfund your system, it might be deemed an investment, losing its tax advantages. Today’s conversation is a must-listen if you’re serious about leveraging your Infinite Banking System to achieve financial freedom. Disclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.The hosts may have a financial interest in the programs or services mentioned in this episode.--Want to go even deeper into the conversation? Join our IBC Inner Circle Group membership and gain access to our live podcast recordings, interactive Hot Seat guests on the topics, and exclusive Q&A sessions with other members and our coaches. Join here: https://wwws.link/inner-circle-sign-upStart Your Journey to Financial Freedom: https://go.wealthwithoutwallstreet.com/passport

#206: Over the last few months Russ and Joey have shared their Monthly Passive Income reports, and we’ve seen that their short-term rental business contributes a large chunk to their income. Today they interview Clint Lovette, a professional remodeler who operates their STR business. Compared to other sectors of the travel and hospitality industry, the short-term rental (STR) market has prospered in the middle of the pandemic. The demand for small city and rural destinations multiplied in 2020 and 2021. People are choosing to stay in short-term rental homes instead of hotels. People are not returning to traditional offices, and many companies will allow people to work remotely for an extended period. With the growing trend of flexible working, we can expect massive growth for the STR industry. So, it's a good time to invest in this business. If you'd like to get the roadmap to building a 7-figure STR, tune in to this episode and check out the link below. Top 3 Things You'll Learn: Why short-term rental is an excellent investment opportunityChallenges and wins when running your STR businessSTR outlook for the coming years About Our Guest:Clint Lovette is a professional remodeler who takes remodeling to the next level. Since getting into the remodeling business nearly 15 years ago, Lovette has continually refined his business strategy around his clients’ needs: meeting expectations and maintaining transparent communication. Doing so has helped his business thrive. Disclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.The hosts may have a financial interest in the programs or services mentioned in this episode.Get in touch with Clint inside the STR Student Group: wealthwithoutwallstreet.com/str Sign up for the Short-Term Rental Course: wealthwithoutwallstreet.com/str 

What happens when your income stops but your expenses don’t? If you are relying solely on your paycheck, that can be a scary scenario. When you get sick or injured and cannot work, you don't want to worry about how you'll pay your bills. Your Disability Insurance can help replace a portion of your paycheck, but will that be enough to sustain you and your family? Being unable to work doesn't have to hurt your finances. But that’s only the case if you have passive income streams or you have achieved financial freedom. Tune in to today’s conversation to learn more about the role of disability insurance in the financial freedom equation. You’ll also hear the coaches share what gets them off track and what they do when that happens. Disclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.The hosts may have a financial interest in the programs or services mentioned in this episode.--Want to go even deeper into the conversation? Join our IBC Inner Circle Group membership and gain access to our live podcast recordings, interactive Hot Seat guests on the topics, and exclusive Q&A sessions with other members and our coaches. Join here: https://wwws.link/inner-circle-sign-upStart Your Journey to Financial Freedom: https://go.wealthwithoutwallstreet.com/passport

#205: What legacy are you leaving for the next generation? How would you like to be remembered? As parents, you definitely want to ensure that your children have a successful future and live a great life. David Karcher has the same goal, and he will share how he's building his legacy of wealth using the Infinite Banking System in today's episode. David is no stranger to the world of finance, having worked in a traditional bank and being an expert in Reverse Mortgages. Learning about the Infinite Banking System opened more doors for him to create passive income streams. His story proves that the journey to financial freedom is possible for anyone willing to take action. Top 3 Things You'll Learn: How to use the Infinite Banking System to teach your family about making sound financial decisions and building generational wealthHow to make your money work for you, so you don't have to trade your time for moneyReduce your financial stress by making sure you always have access to cash  About Our Guest:David Karcher is an expert in Reverse Mortgages and well-versed in the world of finance. He heard about the concept of Becoming Your Own Banker from Nelson Nash a long time ago, but he only learned how to use it for the last three years while working closely with Russ and Joey inside the WWWS Community. Since then, he is continuously on the lookout for more opportunities to build wealth for his family. Disclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.The hosts may have a financial interest in the programs or services mentioned in this episode. Resources:If you're ready to take action, hop on a free 15-minute call with one of our coaches to discuss how our proven, 3-step path to financial freedom might be the perfect fit for you: https://www.wealthwithoutwallstreet.com/freecallStart Your Journey to Financial Freedom: https://go.wealthwithoutwallstreet.com/passport

“The people you spend your time with are your future.” That’s one of the takeaways from Robert Kiyosaki’s book. Today Russ and Joey have their teen daughters back on the show to conclude the review of Rich Dad Poor Dad for Teens. Part 3 is all about “Creating Your Own Cash Flow,” which includes money-making opportunities for teens, managing assets using piggy banks, good and bad debts, and having a financial head start. Overall, the book provides valuable financial lessons for young people, which will be very useful as they graduate from college, and go out into the real world. So stay tuned to hear lessons straight from these four girls who are lucky to have parents determined to give them a strong financial foundation and help them think bigger at a young age. If you want to catch up on Part One and Part Two, check the episodes below:Episode 185: Rich Dad Poor Dad for Teens Part Two - https://www.wealthwithoutwallstreet.com/podcast/rich-dad-poor-dad-for-teens-part-twoEpisode 166: Rich Dad Poor Dad for Teens Part One - https://www.wealthwithoutwallstreet.com/podcast/rich-dad-poor-dad-for-teensAbout the Teens:Alexandria (Xan) Morgan, 15, and Cate Morgan, 13, are the daughters of Russ Morgan, an Authorized Infinite Banking Practitioner in Vestavia Hills, Alabama. Annie Mure, 15, and Lily Kate Mure, 13, are the daughters of Joey Mure, Chief Financial Coach and an Authorized Infinite Banking Practitioner in Birmingham, Alabama. These teens are fortunate to have parents who teach them financial literacy at a young age giving them better chances of success in life. Disclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.The hosts may have a financial interest in the programs or services mentioned in this episode.

#204: It's that time again, Russ and Joey are going to share their passive income report and give us an update on what's been happening with their business ventures. The aim, of course, is to remind everyone that financial freedom is a destination that we can reach way before retirement. An adjustment in last month's report resulted in a higher net profit of $49,385.25 vs. the original $43,526.42. That's almost a $6,000 positive adjustment! And July’s numbers are also something to be proud of. Short-term real estate investments still bring in the highest income at 49.6% of the total. Tune in for the full report, plus insights on what's working well, what can be improved, and how you can accelerate your journey to financial freedom. July 2021 Income At-A-Glance:  Gross Income for July: $126,562.94Total Expenses for July: $60,796.13Total Net Profit for July: $65,766.81Difference b/t July & June: $16,381.56% of net profit to overall gross revenue: 52% Disclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.The hosts may have a financial interest in the programs or services mentioned in this episode.Resources:Take the Passport Challenge: https://go.wealthwithoutwallstreet.com/passportJoin the WWWS Community and take the Investor DNA Quiz: https://www.wealthwithoutwallstreet.com/communityLearn more about Real Estate Investing from The Land Geek: Mark Podolsky: https://www.thelandgeek.com

How many of us like to talk about taxes? Like it or not, paying taxes is a responsibility that every entrepreneur must tackle if they wish to live peacefully without the dreaded knock from the IRS. But did you know that there are legitimate ways to lower your tax liability? By identifying your expenses correctly, knowing your tax code, and keeping detailed accounts, you can find perfectly acceptable ways to keep your taxes low. Saving on taxes means more money left for you. And while you're doing your taxes and making financial decisions, why not involve your kids in the conversation? Just make sure to explain things in a way that they can understand. If you want to learn more creative ways to save on taxes legally without being labeled as a tax evader, tune in to this conversation today. To start Your Journey to Financial Freedom, go to: https://go.wealthwithoutwallstreet.com/passportDisclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.The hosts may have a financial interest in the programs or services mentioned in this episode.--Want to go even deeper into the conversation? Join our IBC Inner Circle Group membership and gain access to our live podcast recordings, interactive Hot Seat guests on the topics, and exclusive Q&A sessions with other members and our coaches. Join here: https://wwws.link/inner-circle-sign-up

#203: Have you ever heard the saying “Be a goat, not a sheep”? Today's guest uses this analogy to describe himself. Coming from an engineering background, Josh Messmer turned to real estate investing to pursue passive income opportunities. He also works as a county administrator and does not mind being an employee, as long as he has the freedom to engage in other worthy passions. Josh learned about IBC and financial freedom inside the WWWS community. He takes his financial education seriously. He has read Robert Kiyosaki’s book and Nelson Nash’s Becoming Your Own Banker. He quickly grew his real estate venture from his first deal, combining IBC and seller financing to purchase properties. His story will inspire you that the journey to financial freedom is possible for anyone willing to learn and take that first step.  Top 3 Things You'll Learn: Having the right mindset is crucial to your successDebt can be a tool to purchase assets that produce cash flowChoosing the right business partner and mentor gives you more courage to pursue your dreams About Our Guest:Josh Messmer turned to real estate investing to pursue passive income opportunities. Starting with his first deal, he quickly grew his assets within five years. He also works as a county administrator and does not mind being an employee, as long as he has the freedom to engage in other worthy passions.  Josh learned about IBC and financial freedom inside the WWWS community. He takes his financial education seriously and has read Robert Kiyosaki’s book and Nelson Nash’s Becoming Your Own Banker. Disclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.The hosts may have a financial interest in the programs or services mentioned in this episode.Resources:Join the WWWS Community and access the Investor DNA: https://www.wealthwithoutwallstreet.com/community

What does it mean to be financially free? A simple definition is that you have achieved financial freedom when your income is higher than your expenses. In reality, financial freedom means something different to everyone. The answer to this question will depend on several variables, such as your personal circumstances, your relationship with money, and how you view wealth. So the next question is, can you project when you will become financially free? Today’s conversation will take you through this journey. For more information, check out the insights and resources mentioned below. Sharpen your financial IQ and understand what type of investor you are - take the Investor DNA Quiz inside the Inner CircleKnow your numbers - https://www.wealthwithoutwallstreet.com/scorecardStart Your Journey to Financial Freedom - https://go.wealthwithoutwallstreet.com/passportDisclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.The hosts may have a financial interest in the programs or services mentioned in this episode.--Want to go even deeper into the conversation? Join our IBC Inner Circle Group membership and gain access to our live podcast recordings, interactive Hot Seat guests on the topics, and exclusive Q&A sessions with other members and our coaches. Join here: https://wwws.link/inner-circle-sign-up

#202: How can you quit your day job to pursue your passion? Walking away from your job is like breaking up with a partner. Some people even refer to it as firing your boss. You can either feel terrible about it or really excited to be moving on. If you're in this situation, there's a lot you can learn from today's episode with Matt Faircloth.Matt is the Founder and CEO of DeRosa Group and author of Raising Private Capital: Build your Real Estate Empire with Other People's Money, an Amazon Best Seller. His expertise is in raising capital to fund real estate investments. Tune in as Matt shares three different ways you can let go of your job and become a successful entrepreneur. This could be the sign you've been waiting for. Top 3 Things You'll Learn: There's never a perfect time to walk away from your day job, but you do have to know how much money you need for your daily expensesYou can't prepare for everything that could go wrong -- you just have to learn as you goA simple idea to raise capital for your real estate business (or any business you plan to pursue) Resources:Text DEROSA to 66866 to gain access to free landlord resources and videosBuy Matt's Book Raising Private Capital: https://store.biggerpockets.com/products/raising-private-capital?variant=32588975571040Access our FREE financial ScoreCard to get on the path to Financial Freedom: https://www.wealthwithoutwallstreet.com/scorecard About Our Guest:Matt Faircloth is the Founder and CEO of DeRosa Group. This company offers several ways to help new and existing real estate investors learn, grow, and expand their knowledge and experience. Matt has been a full-time investor for 16 years and has now completed over $40,000,000 in real estate transactions and controls over 800 units in multi-family. He is a regular contributor and podcast guest on Bigger Pockets.com, has an active YouTube Channel dedicated to educating investors, and is the author of the Amazon Best Seller, Raising Private Capital: Build your Real Estate Empire with Other People's Money.Disclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.The hosts may have a financial interest in the programs or services mentioned in this episode.Connect with Matt:Website: https://derosagroup.com/YouTube: https://www.youtube.com/channel/UCh1ZdYzX6vKfoAgBypdVo_w