The Wealth Without Wall Street Podcast

It’s Thanksgiving Week, and we’d like to thank the man who introduced a completely different concept in the insurance industry -- the Infinite Banking Concept or IBC. We’ve been discussing IBC in this podcast, but today we’ll share an interview last May 2018 with this great man, our IBC mentor, R. Nelson Nash. A former forester, airline pilot, and life insurance advisor, Nelson discovered IBC in the early 1980s. He struggled with high interest rates (23%) on loans from commercial banks. While ruminating over his financial predicament, Nelson realized he could fund whole life insurance policies to create his own set of “banks” or storehouses for his savings and allow him access to finance large purchases. Introspection is really important. In his words, “IBC is about how you think.” Our need for financing is greater than the need for protection. Thus was born the idea for Becoming Your Own Banker (BYOB). Before writing the book, Nelson spent years sharing his vision by doing live seminars. At first, no one showed up, so he redesigned how he delivered the message and eventually found receptive listeners. It’s still a long way to get more people educated on IBC. But once you understand the potential of a properly designed dividend-paying whole life insurance policy and dig deeper into the Infinite Banking Concept, you will appreciate the vision of Nelson Nash and his tremendous impact on the world of financial literacy.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.💸 Build a Passive Income Machine in 3 Steps:Here’s how to flip the script and start building wealth the way the wealthy do 👇👀 Step 1 – Watch the Free 40-Minute Masterclass on the Infinite Banking Concept👉 wealthwithoutwallstreet.com/free-ibc-webinar📞 Step 2 – Book a Free Call with Our Team (We Do This All Day, Every Day)👉 wealthwithoutwallstreet.com/accelerate📈 Step 3 – Start Building Passive IncomeJoin the Passive Income Lab👉 ChoosePassiveIncome.comMore Ways to Learn & Grow Wealth (For Free)💾 Download the Passive Income Operating System👉 wealthwithoutwallstreet.com/piosebook👥 Join 10,000+ Investors Inside Our Free Community👉 wealthwithoutwallstreet.com/communityPaying $250K+ in Taxes? Stop the Bleed.😡 Apply for Our Next Tax Strategy Intensive👉 wealthwithoutwallstreet.com/taxGrab Our Book: Wealth Without Wall Street: 3 Steps to Freedom Through Passive Income📘 wealthwithoutwallstreet.com/newbookStay Connected:📸 Instagram: @wealthwithoutwallst—

#163: Is there a way to stop trading your time for money and spend time doing the things you love? If time is our most valuable asset, how do we track it? How much time do you spend working? How can you take back control of your time? Today, we learn more about this idea with Brian Ellwood, host of 12 Houses To Freedom, the podcast that shows you how to create passive income so you can pursue your passion. Brian shares that having passive income is excellent, but passion income is something different. Passion income is money generated by doing what you love. It combines what you're good at and what truly matters to you. In Brian’s case, his passive income comes from real estate investing, while his passion for coaching has been bringing in a considerable income for him. Top 3 Things You'll Learn:How to have the clarity to picture a lifestyle you love and take steps to get thereCreating passive income streams to pursue something you’re interested inWhy you should track your time Resources:12 Houses To Freedom Podcast: https://www.brianellwood.net/podcast About Brian:Brian used to have a soul-crushing job, which he eventually quit. Inspired by the book Rich Dad Poor Dad, he got into real estate wholesaling, which he also had to stop. Brian now focuses on a few dozen rentals and uses his passive income to pay for his bills to control his time. Today, Brian coaches others on creating passive income streams to have control over their time, too. He only works part-time and spends the rest of his time with his wife, Carleigh, and his daughter, Everley, exploring Colorado, snowboarding, doing parkour, skateboarding, playing music and video games, and drinking beer with friends. Brian believes that "The purpose of real estate investing is not to become your career, but to FREE YOU UP so you can pursue your larger mission 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. Connect with Brian:Website: https://www.brianellwood.net💸 Build a Passive Income Machine in 3 Steps:Here’s how to flip the script and start building wealth the way the wealthy do 👇👀 Step 1 – Watch the Free 40-Minute Masterclass on the Infinite Banking Concept👉 wealthwithoutwallstreet.com/free-ibc-webinar📞 Step 2 – Book a Free Call with Our Team (We Do This All Day, Every Day)👉 wealthwithoutwallstreet.com/accelerate📈 Step 3 – Start Building Passive IncomeJoin the Passive Income Lab👉 ChoosePassiveIncome.comMore Ways to Learn & Grow Wealth (For Free)💾 Download the Passive Income Operating System👉 wealthwithoutwallstreet.com/piosebook👥 Join 10,000+ Investors Inside Our Free Community👉 wealthwithoutwallstreet.com/communityPaying $250K+ in Taxes? Stop the Bleed.😡 Apply for Our Next Tax Strategy Intensive👉 wealthwithoutwallstreet.com/taxGrab Our Book: Wealth Without Wall Street: 3 Steps to Freedom Through Passive Income📘 wealthwithoutwallstreet.com/newbookStay Connected:📸 Instagram: @wealthwithoutwallst—

Is IUL or Index Universal Life Insurance good for IBC? We’ll answer this in today’s round table. First, let’s try to understand the context of IUL and IBC. IUL is essentially a risk mitigation tool providing “upside potential with downside protection.” It is built on universal life insurance and meant to offset or compete with what’s happening in the market. IUL provides a constant rate of return and the cost of insurance premiums. Now, IBC is about Becoming Your Own Banker, a concept introduced by Nelson Nash. Its process revolves around accumulation and distribution, taking control of your finances, and buying assets to have cash flow. Now that we fully understand both concepts, let’s go back to our question, is IUL a good fit for IBC? Our goal is to get back our time and have flexibility. Let’s take a look at the 3 Essential Guarantees with Whole Life Insurance that are not in IUL:1. A guaranteed premium 2. A guaranteed cash value3. Guaranteed death benefitsWe can also refer to these as the “certainty inside guarantees.” Now you decide what you want to do with your 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.💸 Build a Passive Income Machine in 3 Steps:Here’s how to flip the script and start building wealth the way the wealthy do 👇👀 Step 1 – Watch the Free 40-Minute Masterclass on the Infinite Banking Concept👉 wealthwithoutwallstreet.com/free-ibc-webinar📞 Step 2 – Book a Free Call with Our Team (We Do This All Day, Every Day)👉 wealthwithoutwallstreet.com/accelerate📈 Step 3 – Start Building Passive IncomeJoin the Passive Income Lab👉 ChoosePassiveIncome.comMore Ways to Learn & Grow Wealth (For Free)💾 Download the Passive Income Operating System👉 wealthwithoutwallstreet.com/piosebook👥 Join 10,000+ Investors Inside Our Free Community👉 wealthwithoutwallstreet.com/communityPaying $250K+ in Taxes? Stop the Bleed.😡 Apply for Our Next Tax Strategy Intensive👉 wealthwithoutwallstreet.com/taxGrab Our Book: Wealth Without Wall Street: 3 Steps to Freedom Through Passive Income📘 wealthwithoutwallstreet.com/newbookStay Connected:📸 Instagram: @wealthwithoutwallst—

#162: Why do people go to college? Is it a must? To continue our review of R. Nelson Nash’s book, Becoming Your Own Banker, let’s talk about the value of college education. People spend a considerable amount of money to go to college, business school, or medical school to learn a skill or get a certification. Taking the cost of a college education into account, is it worth it? Today’s students get sent to the business school to be trained, not to learn. Instead of spending money outright on college education, why not start saving? To illustrate:1. Consider the standard cost of US$20,000 per year on a 4-year college education = US$80,000 (excluding board, lodging, other expenses)2. If you put the same amount to an insurance policy, you will have a value of US$2,457,303, which will allow you to withdraw US$145,000 annually for 16 years while maintaining US$3,200,000 in death benefits. A person should not wait until he’s 70 years old before enjoying his retirement. Going to college is good, but why not consider internships or learning from experts as an alternative? Education is not limited to institutions. Your financial education is your responsibility. An insurance policy is a better place to save money. Top 3 Things You'll Learn:What is the alternative if you don’t go to collegeThe value of getting a mentor The value of understanding infinite banking 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.💸 Build a Passive Income Machine in 3 Steps:Here’s how to flip the script and start building wealth the way the wealthy do 👇👀 Step 1 – Watch the Free 40-Minute Masterclass on the Infinite Banking Concept👉 wealthwithoutwallstreet.com/free-ibc-webinar📞 Step 2 – Book a Free Call with Our Team (We Do This All Day, Every Day)👉 wealthwithoutwallstreet.com/accelerate📈 Step 3 – Start Building Passive IncomeJoin the Passive Income Lab👉 ChoosePassiveIncome.comMore Ways to Learn & Grow Wealth (For Free)💾 Download the Passive Income Operating System👉 wealthwithoutwallstreet.com/piosebook👥 Join 10,000+ Investors Inside Our Free Community👉 wealthwithoutwallstreet.com/communityPaying $250K+ in Taxes? Stop the Bleed.😡 Apply for Our Next Tax Strategy Intensive👉 wealthwithoutwallstreet.com/taxGrab Our Book: Wealth Without Wall Street: 3 Steps to Freedom Through Passive Income📘 wealthwithoutwallstreet.com/newbookStay Connected:📸 Instagram: @wealthwithoutwallst—

What’s one thing you wish you can do again if you can go back in time? Have you ever wished you’d known something sooner? Why would someone want to go back in time? We’ll answer these questions in relation to infinite banking. We can achieve three years of growth in just 18 months by backdating the policy, a common practice in the insurance industry. Compressing time and accelerating growth is something that many people are beginning to consider now. For someone with a lot of cash available, this is a good strategy. To illustrate:1. Your birthday is June 1st, and today is December 1st, we’ll write a policy dated June 1st (6 months ago); you’ll pay the first annual premium 2. June 1st the following year; you’ll pay the 2nd annual premium. By this time, you would have paid 24 months worth of premium in just 6  months (December to June)3. By year 3, June 1st, you would have 3 years or 36 months worth of premium (in 18 months)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.💸 Build a Passive Income Machine in 3 Steps:Here’s how to flip the script and start building wealth the way the wealthy do 👇👀 Step 1 – Watch the Free 40-Minute Masterclass on the Infinite Banking Concept👉 wealthwithoutwallstreet.com/free-ibc-webinar📞 Step 2 – Book a Free Call with Our Team (We Do This All Day, Every Day)👉 wealthwithoutwallstreet.com/accelerate📈 Step 3 – Start Building Passive IncomeJoin the Passive Income Lab👉 ChoosePassiveIncome.comMore Ways to Learn & Grow Wealth (For Free)💾 Download the Passive Income Operating System👉 wealthwithoutwallstreet.com/piosebook👥 Join 10,000+ Investors Inside Our Free Community👉 wealthwithoutwallstreet.com/communityPaying $250K+ in Taxes? Stop the Bleed.😡 Apply for Our Next Tax Strategy Intensive👉 wealthwithoutwallstreet.com/taxGrab Our Book: Wealth Without Wall Street: 3 Steps to Freedom Through Passive Income📘 wealthwithoutwallstreet.com/newbookStay Connected:📸 Instagram: @wealthwithoutwallst—

#161: Most people dream of having financial freedom, but get stuck working endless hours in a job until they’re 60! Ready to take control of your life and create a business that is not a job? Tune in to this episode. Today's guests, veteran real estate investors Adam Southey and Justin Sliva, share how they discovered the wildly profitable niche of land flipping as a way to create wealth and live life under their own terms. What you'll learn:How to make money in real estateThe strategy and business model used by Adam and JustinDiscover the process to create financial freedom About Adam and Justin:Adam Southey used to work as a train conductor. Justin Sliva spent years working as a full-time real estate agent. They joined forces to try out land investing. Today, they’re both living the life of their dreams. They share their experiences to teach others how to build massive cash flow and huge profits from this highly lucrative niche of land flipping through their podcast, Casual Fridays REI.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 Casual Fridays REI: https://casualfridaysrei.com/💸 Build a Passive Income Machine in 3 Steps:Here’s how to flip the script and start building wealth the way the wealthy do 👇👀 Step 1 – Watch the Free 40-Minute Masterclass on the Infinite Banking Concept👉 wealthwithoutwallstreet.com/free-ibc-webinar📞 Step 2 – Book a Free Call with Our Team (We Do This All Day, Every Day)👉 wealthwithoutwallstreet.com/accelerate📈 Step 3 – Start Building Passive IncomeJoin the Passive Income Lab👉 ChoosePassiveIncome.comMore Ways to Learn & Grow Wealth (For Free)💾 Download the Passive Income Operating System👉 wealthwithoutwallstreet.com/piosebook👥 Join 10,000+ Investors Inside Our Free Community👉 wealthwithoutwallstreet.com/communityPaying $250K+ in Taxes? Stop the Bleed.😡 Apply for Our Next Tax Strategy Intensive👉 wealthwithoutwallstreet.com/taxGrab Our Book: Wealth Without Wall Street: 3 Steps to Freedom Through Passive Income📘 wealthwithoutwallstreet.com/newbookStay Connected:📸 Instagram: @wealthwithoutwallst—

What would you have done differently after knowing what you know now? We all have this habit of doing things on our own. We only consult an expert after we’ve messed up. Take the question of what’s the best way to design a policy. Clarity is the key. If you understand the problem, the solution will be clear. You have to identify what’s important to you and why, where you’re headed, and how you’re going to get there. Focus on long-term results and be ready to infuse capital. When we talk about owning your journey to financial freedom, it’s best to work with a trusted practitioner to coach and guide you.  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.💸 Build a Passive Income Machine in 3 Steps:Here’s how to flip the script and start building wealth the way the wealthy do 👇👀 Step 1 – Watch the Free 40-Minute Masterclass on the Infinite Banking Concept👉 wealthwithoutwallstreet.com/free-ibc-webinar📞 Step 2 – Book a Free Call with Our Team (We Do This All Day, Every Day)👉 wealthwithoutwallstreet.com/accelerate📈 Step 3 – Start Building Passive IncomeJoin the Passive Income Lab👉 ChoosePassiveIncome.comMore Ways to Learn & Grow Wealth (For Free)💾 Download the Passive Income Operating System👉 wealthwithoutwallstreet.com/piosebook👥 Join 10,000+ Investors Inside Our Free Community👉 wealthwithoutwallstreet.com/communityPaying $250K+ in Taxes? Stop the Bleed.😡 Apply for Our Next Tax Strategy Intensive👉 wealthwithoutwallstreet.com/taxGrab Our Book: Wealth Without Wall Street: 3 Steps to Freedom Through Passive Income📘 wealthwithoutwallstreet.com/newbookStay Connected:📸 Instagram: @wealthwithoutwallst—

#160: Welcome to the continuation of the Wealth Without Wall Street Podcast's Monthly Passive Income Report. This episode we go over our September 2020 passive income streams and show you how we had a 30% percent increase from last month. We discuss why some strategies didn’t work for us, but could still work for you. From taking on more expenses to dealing with neighbors who want us out, we go over every aspect of the business and give you exact numbers to put into perspective. Money is just a tool that we trade for time, but time waits for no man. Short-term rentals have increased our income greatly from month to month, however land-flipping took us backwards this month. These episodes also show us where we can improve and learn from the mistakes we made month to month. Overall, September was a good month for us and we are excited to continue expanding in some areas. We hope this episode inspires you to use your money wisely and allows you to learn from our mistakes.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.Become a Freedom Seeker! https://www.wealthwithoutwallstreet.com/freedomseekersSeptember 2020 - Passive Income RevenueBy the Numbers:Gross Revenue:  $ 24,704Total Expenses:  $ 20,000 Net Profit:  $ 4,408____💸 Build a Passive Income Machine in 3 Steps:Here’s how to flip the script and start building wealth the way the wealthy do 👇👀 Step 1 – Watch the Free 40-Minute Masterclass on the Infinite Banking Concept👉 wealthwithoutwallstreet.com/free-ibc-webinar📞 Step 2 – Book a Free Call with Our Team (We Do This All Day, Every Day)👉 wealthwithoutwallstreet.com/accelerate📈 Step 3 – Start Building Passive IncomeJoin the Passive Income Lab👉 ChoosePassiveIncome.comMore Ways to Learn & Grow Wealth (For Free)💾 Download the Passive Income Operating System👉 wealthwithoutwallstreet.com/piosebook👥 Join 10,000+ Investors Inside Our Free Community👉 wealthwithoutwallstreet.com/communityPaying $250K+ in Taxes? Stop the Bleed.😡 Apply for Our Next Tax Strategy Intensive👉 wealthwithoutwallstreet.com/taxGrab Our Book: Wealth Without Wall Street: 3 Steps to Freedom Through Passive Income📘 wealthwithoutwallstreet.com/newbookStay Connected:📸 Instagram: @wealthwithoutwallst—

#159: In these times of market uncertainty and job layoffs, no wonder so many people are escaping the 9-5 and seeking financial freedom. Making that decision may be half the battle, but where do you go from there? Today’s guest is Scott Krone, the owner and founder of Coda Management Group. Coda is an international award-winning design and build firm that manages self-storage and other real estate assets, whose values range in the hundreds of millions. In this new episode, they discuss why you should look for problems to solve during a recession, how to keep your investors committed and happy in every deal, and the ways to leverage a variety of deals to create a life truly worth living.What you'll learn:How to identify problems with a high ROIThe concrete steps to tackling an old problem in a new wayThe key to creating sustainable passive income streamsAbout Scott:Scott Krone’s background lies in architecture and contracting, working on multiple million dollar deals in his early years. In 2012, Scott founded SSSK Capital Fund, a firm that managed real estate assets in the excess of $30 million. In 2018, Scott combined SSSK Capital Fund with his other company, Coda Design + Build, to create the current Coda Management Group. Coda is now a staple in self-storage asset management.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 Scott here: www.wealthwithoutwallstreet.com/coda💸 Build a Passive Income Machine in 3 Steps:Here’s how to flip the script and start building wealth the way the wealthy do 👇👀 Step 1 – Watch the Free 40-Minute Masterclass on the Infinite Banking Concept👉 wealthwithoutwallstreet.com/free-ibc-webinar📞 Step 2 – Book a Free Call with Our Team (We Do This All Day, Every Day)👉 wealthwithoutwallstreet.com/accelerate📈 Step 3 – Start Building Passive IncomeJoin the Passive Income Lab👉 ChoosePassiveIncome.comMore Ways to Learn & Grow Wealth (For Free)💾 Download the Passive Income Operating System👉 wealthwithoutwallstreet.com/piosebook👥 Join 10,000+ Investors Inside Our Free Community👉 wealthwithoutwallstreet.com/communityPaying $250K+ in Taxes? Stop the Bleed.😡 Apply for Our Next Tax Strategy Intensive👉 wealthwithoutwallstreet.com/taxGrab Our Book: Wealth Without Wall Street: 3 Steps to Freedom Through Passive Income📘 wealthwithoutwallstreet.com/newbookStay Connected:📸 Instagram: @wealthwithoutwallst—

When we talk about life insurance, people usually think of a whole life policy—your policy is active until you pass away. This has its benefits, but many people would benefit more from a term life policy. Simply put, a term life policy is active for a designated set of years, which allows it to have lower premiums and the ability to convert into a whole life or infinite banking policy. Most whole life insurance policies are calculated based on the number of working years someone has left, which can both be wrong and unsettling to think about. In contrast, a term life policy is great for someone building a family, whose needs will change over time. Before you settle on one or the other, know what your specific needs are and discuss them with an insurance company you trust. 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.💸 Build a Passive Income Machine in 3 Steps:Here’s how to flip the script and start building wealth the way the wealthy do 👇👀 Step 1 – Watch the Free 40-Minute Masterclass on the Infinite Banking Concept👉 wealthwithoutwallstreet.com/free-ibc-webinar📞 Step 2 – Book a Free Call with Our Team (We Do This All Day, Every Day)👉 wealthwithoutwallstreet.com/accelerate📈 Step 3 – Start Building Passive IncomeJoin the Passive Income Lab👉 ChoosePassiveIncome.comMore Ways to Learn & Grow Wealth (For Free)💾 Download the Passive Income Operating System👉 wealthwithoutwallstreet.com/piosebook👥 Join 10,000+ Investors Inside Our Free Community👉 wealthwithoutwallstreet.com/communityPaying $250K+ in Taxes? Stop the Bleed.😡 Apply for Our Next Tax Strategy Intensive👉 wealthwithoutwallstreet.com/taxGrab Our Book: Wealth Without Wall Street: 3 Steps to Freedom Through Passive Income📘 wealthwithoutwallstreet.com/newbookStay Connected:📸 Instagram: @wealthwithoutwallst—