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The Money School Podcast shares the secrets of the wealthy, so you learn how money really works and take back control of your life!

You'll hear the inside story of wealthy entrepreneurs and investors... breaking down how they got started, how they think about money, how they put money to work for them, and how you can change your life simply by doing ONE thing differently with the money you already have.

Through the podcast, you'll become your own bank - mastering how money really works - so you can use it to gain the upper hand and take command of your finances. After all, building wealth isn't about resources, it's about being resourceful. 

Hosted by Chris Naugle, former pro snowboarder turned real estate investor, serial entrepreneur, and money mentor, this podcast has one mission - to show you how money really works so you can reclaim control of your life!

Nov 7, 2019

One of the things we have discovered in our investing journey is that most private lenders are their own banks. It gives them a great deal of control and greater opportunity to build wealth. Why would we want to build a bank outside of the traditional banking system? Why should we stop buying into the myth of compound interest? How can we leverage our homes, 401ks, and IRAs to fund further investments?

On this episode, I share how banks control our transactions, and what we can do to get our own revenue streams working for us. 

Money must remain in motion in order to work, otherwise it becomes a liability. - Chris Naugle

 

Three Things We Learned

If we get our current liabilities to generate income, they can become usable assets. 

 

Don’t do things with money that we wouldn’t do with tangible purchases. We would never buy a car and not drive it for years, or buy a house and not live in it. We have to put our money in motion.

 

A 401k loan allows us to be the bank and earn an increased return, even when we pay the 5% interest on the loan.

 


We’ve been taught to believe in the concept of compound interest, that we should just park our money with financial institutions. The problem is, we’re giving up good dollars to the bank today, to get weaker dollars later. In order to become truly financially free, we need to replicate what banks and the wealthy do. The bank controls all the financial transactions, so if we became the bank we can have greater control and get higher returns because of it.