In this Forever Cash Podcast episode, I speak with Chris Naugel, known as America’s #1 Money Mentor. Chris shares his take on how compound interest works, taking lessons from the wealthy.
Taking control of your finances and making informed choices is the key to generating wealth, year over year. Chris explains how you can rethink the way that you invest your money by using methods that have been refined over decades by the wealthiest 1%.
Learn how to close more land deals in 2021 by registering for our FREE Land Flipping Class starting on Dec 8th HERE
How The Rich Use Compound Interest to Grow Their Money –
Albert Einstein once said, “Compound interest is the eighth wonder of the world. Those who understand it, earn it. Those who don’t pay it.”
Chris says that the Rockerfellers were among the first to figure that money always has to be in motion.
“…they went to insurance companies, and they figured out how to create a banking system called privatized banking, commonly known today as infinite banking.”
The infinite banking model leverages life insurance in a novel way. The idea is that put your money into a life insurance policy and then take it back out again. Repeating this process allows you to earn compound interest continuously. This is the key to how the wealthy take advantage of compound interest when investing their money.
“You can park the money there, take the money out, but your money never stops earning compound interest. When you take that money out as a loan, you’re not taking your own money. The insurance company is giving you a loan from its general account.”
If all of this sounds confusing, don’t worry! The entire process gets broken down and explained in the episode.
Rethink Your Mindset Around Real Estate and Wealth
Chris has incredible insights into real estate and finance in general. He left us with this amazing piece of advice:
“I thought I needed a lot of money to get into real estate, but it wasn’t about the actual resources I had. It was about how resourceful I could get. You have to start learning how to solve other people’s problems and use other people’s money. That’s where you should start because it’s the way to success.”
Learn from the wealthy, and you’ll be able to invest your money in ways you’ve never dreamed of before.
- Find out how the wealthy invest their money
- Discover the power of compound interest
- Learn how to make your money work for you
Mentioned in this episode
- Learn how to close more land deals in 2021 by registering for our FREE Land Flipping Class starting on Dec 8th HERE https://landflippingclass.com/live-class/register.php?
- Join the Land Profit Generator Community Facebook Group