The Wealth Without
Wall Street Podcast

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Round Table | Why Would I Pay Interest On My Own Money?
Episode #
195
33 minutes

Round Table | Why Would I Pay Interest On My Own Money?

We’ve been talking about how the Infinite Banking Concept (IBC) allows you to take control of your money and the creative ways you can make your money work for you. But why do you have to pay interest on the money that you borrow against your policy? Why do you even have to pay back the loan? It is your money anyway, right? In reality, you can choose not to pay back your policy loan and interest in a set period as required if you had borrowed money from banks. But what happens if you don’t? Find out the ins and outs of borrowing against your life insurance policy in today’s round table with our IBC coaches.

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

How to Build A 6-Figure E-Commerce Business with Daniel Espy
Episode #
194
46 minutes

How to Build A 6-Figure E-Commerce Business with Daniel Espy

How have you been spending your quarantine days? Today’s guest used his time wisely and launched a 6-figure e-commerce business using IBC for funding. Learn how Daniel Espy, a member of the IBC Inner Circle, discovered the potential of Amazon’s market to help create a passive income stream for him and how you can do the same. If you’re wondering how much you can make selling products on Amazon and want to explore this opportunity, tune in to this episode. You might be the next highly profitable Amazon seller this year. To learn more about the program that helped Daniel launch his Amazon brand, go to https://www.asin360.com/bamm.

How to find profitable products to sell

Why you should invest in advertising

Teaching your kids how to succeed in business

Daniel

Daniel Espy is a full-time volunteer pastor with a Master’s Degree in Theology. He discovered Amazon selling while looking for an additional income stream and listening to a Wealth Without Wall Street podcast episode. Daniel ventured into Amazon sales with his family working with him all the way. With guidance from Amazon FBA experts, Daniel’s business now generates thousands of dollars in sales.

Round Table | Using IBC to Manage Cash Flow with Sharran Srivatsaa
Episode #
193
59 minutes

Round Table | Using IBC to Manage Cash Flow with Sharran Srivatsaa

Are you looking forward to that day where you can live life on your terms? How badly do you want it, and what are you doing to get to that point? Tune in to get ideas on how you can start building surplus cash and generating wealth. This episode is Part 2 of a two-part series where Sharran Srivatsaa, host of the Business School Podcast, interviews Russ and Joey about the Infinite Banking Concept (IBC) as a tool to gain financial freedom. Learn how to have readily accessible funds that you can use for capital or buying a new car, and understand what it means to “becoming your own banker.” Get the Free Financial Scorecard: https://www.wealthwithoutwallstreet.com/community-offer/sharran-srivatsaa

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

Our Passive Income Report - February 2021
Episode #
192
32 minutes

Our Passive Income Report - February 2021

Today we're going to share how our businesses performed in February 2021. We love doing this so you can see how we're putting our money to work. Being open about the challenges we go through and the successes we celebrate every month allows us to provide you with support and education. Join us and take every opportunity you can to learn how to start your journey to financial freedom. --- February 2021 Income At-A-Glance: Gross Income for February: $70,245 Total Expenses for February: $43,000 Total Net Profit for February: $27,245 Difference b/t Feb & Jan: -$15,755 % of net profit to overall gross revenue: 39%

Resources: Download the Free Financial ScoreCard: https://www.wealthwithoutwallstreet.com/scorecard Get valuable content and courses: https://www.wealthwithoutwallstreet.com/community Join the STR Mastermind: https://www.wealthwithoutwallstreet.com/strmastermind The Land Geek: Mark Podolsky: https://www.thelandgeek.com

Round Table | Short-Term Rentals + Cash Value vs. Long-Term Rentals
Episode #
191
37 minutes

Round Table | Short-Term Rentals + Cash Value vs. Long-Term Rentals

Today’s episode is another discussion on the practical application of the Infinite Banking Concept (IBC) to generate wealth. IBC is not the actual means to achieve financial freedom. Instead, it is the tool that gives you the flexibility and control of your money and what you do with the money that moves you to reaching your financial goal. Listen as our IBC Coaches talk about leveraging IBC and putting your money at work via short-term rentals. To learn more about the short-term rental business, join the STR Mastermind here: https://www.wealthwithoutwallstreet.com/strmastermind. -- 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.

How to Raise Twins Through REI and IBC with Jamie O’ Brien
Episode #
190
30 minutes

How to Raise Twins Through REI and IBC with Jamie O’ Brien

If you had a life-changing event that compels you to stay at home or pushes you to find another income stream, what would you do? How do you envision the process of sorting out your finances, priorities, and actions? These are some of the questions that will be discussed in today’s episode with Jamie O’Brien, a member of the IBC Inner Circle. Jamie has a full-time job as a Medical Device Sales professional and a Real Estate Investor. He discovered the Infinite Banking Concept (IBC) and worked with Joey to learn about the potentials of IBC to gain wealth. Stay tuned and learn more about the things you can do with IBC and why it’s important to move forward even if you have failed several times over.

Why it’s essential to have a mentor and a business partner

How to use IBC to finance your business

Learning from your failures and taking action

Jamie

“The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack of will. – Vince Lombardi” Jamie O’Brien lives and invests in the Birmingham, Alabama market. He is a Medical Device Sales professional and Real Estate Investor. When Jamie and his wife, Blair, found out they were having twins, Jamie knew he had to do something other than relying on his W2 to provide the life he wanted for his family. In the last 4 years, Jamie has successfully invested in 7 Tax Certificates, bought and flipped 8 houses including 1 Turnkey Rental flip, and built his rental portfolio to 11 doors. At heart, Jamie is a rehabber who loves forced appreciation and bringing homes back to life. This journey led him to discover the Infinite Banking Concept and began working with Joey to change the trajectory of his family’s future. Through IBC, Jamie has been able to access cash to invest in an apartment partnership and several private lending opportunities. Jamie just funded his 4th policy and couldn’t be more excited to teach his daughters the power of financial education as they grow. Jamie enjoys spending time with his family, the great outdoors, college football, and struggling to break 100 in golf in his spare time.

IBC Sounds Interesting But What if I’m Uninsurable? | BYOB Book Review 17
Episode #
189
22 minutes

IBC Sounds Interesting But What if I’m Uninsurable? | BYOB Book Review 17

“The line of insurability” is a concept known in the life insurance industry. It’s that point in time when you cannot qualify for an insurance policy, perhaps due to a diagnosis that significantly impacts your life expectancy or reasons related to health, lifestyle, or travel. So what can you do if you become uninsurable? It can be frustrating, but it may not be the end of your options. In today’s episode, Russ and Joey talk about this scenario while continuing their book review on Becoming Your Own Banker (BYOB) by Nelson Nash. BYOB is not just your ordinary book. It’s that sort of artifact that can radically transform your future. It could be one of the most important books you should add to your reading list to help shift your mindset. Through this book, Nelson explains the Infinite Banking Concept (IBC) in the most effective way possible, getting his point across with a dose of humor and immense clarity.

What is insurable interest?

How to implement IBC even when you’re uninsurable

Why education is vital in achieving financial freedom

Round Table | Practical Case Study Paying Down Debt with IBC
Episode #
188
36 minutes

Round Table | Practical Case Study Paying Down Debt with IBC

Why do so many people struggle with debt? Are you one of them? If you’re wondering what’s the right approach to getting out of debt, realize that the first thing that needs to happen is to have a “behavior shift” so you can stop getting into that cycle of being in and out of bad debts. Evaluate your financial condition and know which of your debts are efficient and inefficient. It’s time to get creative, discover other ideas, and find a practical way to get out of debt. Listen as our IBC Coaches talk about how to use the Infinite Banking Concept (IBC) to pay down your debts, use debt to your advantage, and accelerate your speed to get to financial freedom.

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

Round Table | 401k vs. IBC
Episode #
186
38 minutes

Round Table | 401k vs. IBC

Are you working hard in building up your retirement fund so you can live a comfortable life when you retire? Who invented this concept anyway? Why can’t you have more freedom today instead of deferring it? These are the questions that our hosts and IBC coaches will discuss in today’s highly debatable topic about retirement and how you should prepare for it. Listen up as they provide analogies and opinions on why you should save yourself from relying on volatile, market-dependent 401k accounts. Find out how you can explore a better tool called the Infinite Banking Concept (IBC), so you can take control of your financial life and live well starting today. -- 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

Rich Dad Poor Dad for Teens Part Two
Episode #
185
48 minutes

Rich Dad Poor Dad for Teens Part Two

How important is it to teach children about the value of money? At what age should children learn financial literacy? Today’s episode brings back Russ Morgan and Joey Mure’s daughters for Part Two of lessons learned from Robert Kiyosaki’s book Rich Dad Poor Dad. If you missed Part One, check out Episode 166. Whether you’re a parent to young children or someone who wants to reevaluate your relationship with money, you will get a ton of value as you listen to this conversation. Hear the refreshing perspective of four teens around how they view money, finding opportunities, why you should work to learn and not to earn, and most importantly, how to win in the game of achieving financial freedom.

The differences between the Rich Mindset vs. the Poor Mindset

Why you need to understand how money works

How playing games can help you gain financial knowledge

Alexandria, Cate, Annie and Lily Kate

Alexandria (Xan) Morgan, 15, and Cate Morgan, 13, are the daughters of Russ Morgan, a CERTIFIED FINANCIAL PLANNER™ Professional and an Authorized Infinite Banking Practitioner in Vestavia Hills, Alabama. Annie Mure, 14, and Lily Kate Mure, 12, 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, paving the way for them to have success in life.

Round Table | How Do You Know When to Start a New Policy?
Episode #
184
36 minutes

Round Table | How Do You Know When to Start a New Policy?

How much money are you putting into your insurance policy? Are you ready to get another one? When you utilize the Infinite Banking Concept (IBC) using whole life insurance, your insurance policy’s primary purpose is not the death benefit but the living benefits or the many options you will have to grow your wealth. Today’s episode revolves around frameworks to guide you on when to start a new policy and when you should hold off. There isn’t a one-size-fits-all answer. The decision largely depends upon how you intend to use the tool and requires clear financial goals. To learn more about the Infinite Banking Concept, get R. Nelson Nash’s book Becoming Your Own Banker. -- 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

Our Passive Income Report - January 2021
Episode #
183
35 minutes

Our Passive Income Report - January 2021

Today’s another episode where Russ and Joey go through their monthly passive-income report, sharing exactly what they’re doing to create multiple streams of income, walking us through exciting things that happened and issues that need to be addressed. Be inspired, take action, and carve your path to financial freedom. January 2021 Income At-A-Glance: Gross Income for January: $82,000 Total Expenses for January: $39,000 Total Net Profit for January: $43,000 Difference b/t January & December: +$30,400 % of net profit to overall gross revenue: 52% Resources: - Watch How My Daughter Will Buy Her First Car via Infinite Banking and Short Term Rentals: https://www.youtube.com/watch?v=S9LABs0y8zo - Join the WWWS Community and take the Investor DNA Course: https://www.wealthwithoutwallstreet.com/community - Learn more about Real Estate Investing from The Land Geek: Mark Podolsky: https://www.thelandgeek.com

Round Table | What the Heck is EVA and How Does it Apply to IBC?
Episode #
182
43 minutes

Round Table | What the Heck is EVA and How Does it Apply to IBC?

What do you know about EVA (Economic Value Added), and why should you evaluate it? Get ready to listen and take notes as our IBC coaches talk about a concept that only a few people understand. You will hear references to Nelson Nash’s Becoming Your Own Banker, a book that thoroughly explains IBC (Infinite Banking Concept). After listening to this episode, you will have a clearer understanding of the real value of money and why IBC is an excellent investment vehicle for you. If you understand what’s happening with your money, you will know what you have to do. “Opportunity cost is the biggest expense that you never got a bill for.” - Joey Mure -- 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

Hurricane-Proofing Your Business: House Flipping with Ricardo Rosales
Episode #
181
41 minutes

Hurricane-Proofing Your Business: House Flipping with Ricardo Rosales

Everyone goes through challenges and makes mistakes in life. Learning from those lessons and pushing through makes all the difference in how your life will turn out. Listen to the interesting story of Ricardo Rosales, host of The Truth Behind Success Podcast and Real Estate Entrepreneurs Podcast, as he takes us through his entrepreneurial journey, stumbling through obstacles, losing millions in the aftermath of Hurricane Harvey, weeding through the chaos, and rising up from setbacks.

Flipping vs. Wholesaling

The Four Steps to Financial Freedom

Why you need to diversify your business

Ricardo

Ricardo was born in Atlanta, Georgia but grew up in Venezuela. He has lived different lives starting from being an office boy in his father’s business to joining the US Navy then moving on to work in a job that allowed him to travel the world. While sitting on the couch one day, Ricardo watched a tv show called Flip This House which got him interested in real estate. After a few months, he bought his first investment property which led him to many more real estate ventures, experiencing the ups and downs, surviving through Hurricane Harvey, and becoming the accomplished person he is now. Ricardo aims to help many achieve their goals in life, be a part of their success while taking his own life to the next level.

Round Table | How to Use IBC to Finance Your Business
Episode #
180
32 minutes

Round Table | How to Use IBC to Finance Your Business

In his book, The Cashflow Quadrant, Robert Kiyosaki talks about a diagram with four quadrants. On the left side are E (Employee) and S (Self-Employed) and on the right side are B (Business Owner) and I (Investor). You can be in all quadrants at some point. The goal is to progress through the quadrants and move on the right side, becoming a business owner and an investor. As a business owner, you need capital for expenses like purchasing equipment to get your business running. When you invest money, you want to make sure you are in full control and can access your money anytime. In today’s episode, our coaches talk about how IBC gives you the ability to use your investment in financing your business. Stay tuned and learn more practical ways to leverage IBC as an entrepreneur and an investor. -- 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

Earn $800 A Month Per Bedroom on Short-Term Rentals with Jon Bell and Julian Sage
Episode #
179
37 minutes

Earn $800 A Month Per Bedroom on Short-Term Rentals with Jon Bell and Julian Sage

Are you looking for ways to turn your extra space into an income stream? How do you manage a rental business? Should you take it on yourself or hire someone to oversee it for you? Hear the answers from short-term rental experts Jon Bell and Julian Sage, hosts of the Vacation Rental Machine Podcast. This amazing duo is on a mission to help Airbnb hosts to create systems to automate their Airbnb business, allowing them to have more time and better cash flow. Learn the short-term rental business’s dos and don'ts and achieve financial freedom even when you do not own any property.

Building a partnership model that works

The benefits of establishing systems to manage short-term rentals

How to handle the challenges of managing your rental business

Jon and Julian

Jon Bell is a short-term rental host who scaled up to 24 properties in 18 months, bringing in $45,000 a month without even owning any of the properties he’s renting out. He spends four hours a week on his business with only one part-time assistant while working a regular day job as an IT guy. Julian Sage is a military man turned Airbnb Superhost who now teaches “rentalpreneurs” how to overcome the challenges of starting an Airbnb business and scale their short term rental business through his podcast Short Term Rental Success Stories.

Round Table | Loan vs. Withdrawal
Episode #
178
44 minutes

Round Table | Loan vs. Withdrawal

If you need extra funds and have an insurance policy, would you withdraw from your policy or write a loan against it? Is it better to just borrow money from the bank? How can you utilize the benefits of a loan from a policy vs. taking a conventional loan? Can a loan go bad? How do you decide which way to go? Tune in to hear insights from our coaches as they go through the Infinite Banking Concept (IBC) framework so you can get clarity and make better decisions. Take a loan or withdraw? Remember, you should always be in control of your finances instead of being controlled by financial institutions. Find out how you can do this and more as you listen to today’s 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

Are You Thinking About Your Thinking with Marc Pelletz
Episode #
177
32 minutes

Are You Thinking About Your Thinking with Marc Pelletz

What would you do if you woke up one day on the side of the road, broke and homeless? How do you get up? Who do you turn to? Today, Russ and Joey talk to a man who amassed wealth at a young age, lost everything and then made a firm decision to take uncomfortable steps to pull himself back up. Marc Pelletz is the author of Think Like A Real Estate Investor and a real estate expert who teaches people how focusing your thoughts to be positive and having a strong faith in God makes the difference in living a good life. While it may sound aspirational, Marc urges everyone to bring love to everything we do and make the world a better place. Listen up and be inspired by Marc’s story.

What to do when you lose everything and hit rock bottom

Why it’s important to believe in yourself, set a SMART goal, and take action

How to take control of your thoughts to take control of your life

Marc

Marc Pelletz has been involved in real estate for almost four decades. Having been through several real estate cycles, he knows how to be successful no matter where the market is at that moment. Marc has been inspired and motivated by many real estate experts and masters of motivational philosophy over the years, which has helped transform all areas of his life. In the last 10 years, he established and grew a real estate company accumulating over 200 rental properties and flipping over 1,000 properties valued at over 300 million dollars. He consistently earns a seven-figure income while having more time for the things that truly matter -- his family, vacation, and self-improvement. ---

Round Table | How Does Congress's New Tax Laws Impact Life Insurance Policies?
Episode #
176
28 minutes

Round Table | How Does Congress's New Tax Laws Impact Life Insurance Policies?

Section 7702 of the U.S. Internal Revenue Code defines what a life insurance policy is for taxation purposes. It was originally written in the 1980s, and an amendment was signed last December 2020. What exactly changed? Is this good news? Would this result in lower interest rates and more pricing flexibility? What does this mean for you? If you want to know more about what's going on, listen to this episode as our IBC (Infinite Banking Concept) coaches provide insights into how the new tax laws impact the insurance industry and what this means for those who are into infinite banking. While there are still many uncertainties, today’s discussion will provide you with good information to help you make better decisions as you take control of your finances. -- 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

Our Passive Income Report - December 2020
Episode #
175
33 minutes

Our Passive Income Report - December 2020

How’s your 2020? We saw a lot of challenges in the year that was, but there were also great opportunities for those who are willing to act. Yearends are usually a time for reflection and looking back on the things we learned. Today, our hosts will share their Passive Income Report as they have been doing in the previous months. This practice has been part of Russ’s vision board. It’s always good to look at what’s been working and what’s not, and coming up with strategies to do better in 2021. Aside from their different business ventures, Russ and Joey are also firm believers that the best use of money is investing in yourself. Check out what they’ve been listening to and reading about in the resources section. Resources: Business School Podcast by Sharran Srivatsaa - very tactical, encouraging, and empowering For Men Only by Shaunti Feldhahn - understanding how women think Dirt Rich by Mark Podolsky - attaining financial freedom through property investment Doesn’t Hurt to Ask by Trey Gowdy - learn how to communicate better by asking the right questions ~~~ December 2020 Passive Income Summary: Gross Income: $47,000 Total Expenses: $35,000 Net Profit: About $12,600 ~~~ Breakdown of Passive Income Sources: Land Business $3,325.92 Income | $495 a month increase Vs.November This business is being managed in partnership with The Land Geek: Mark Podolsky Know the ebb and flow of running this business Short Term Rental Property $28,000 Income | $27,900 Expenses - just barely breakeven December and January are usually low seasons - not much travel happens You have to strengthen your marketing strategy - don’t rely on Airbnb alone to bring in customers Ethereum Miners $4,355 Income | $1,588 Monthly Expenses | $2,767 Profit up almost $1,000 Vs. November Strategy is to sell the coins earned every month to cover the expenses and invest the excess funds in other businesses Current Ethereum Coin Value - $761 per coin Long Term Rental Business Not much going on here E-commerce $1,400 Loss This business will be discontinued in March 2021 if it doesn’t recover soon Short Term Rental (STR) Mastermind $4,560 Profit 2,800 on the waiting list for March 2021 Join here: https://www.wealthwithoutwallstreet.com/strmastermind ~~~

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