Round Table | Who Should Be Teaching Personal Finance to Our Kids?

Teaching kids about money is an uncommon practice in most households. Because of this, a lot of kids have a distorted view of money and its role in our lives. So who do you expect to teach your kids about money? As parents, it is your responsibility to educate your kids and prepare them to have a healthy relationship with money. Start early using practical activities and setting a good example for them to follow later. Discussing financial decisions with your kids paves the way for them to learn how to make wise financial decisions of their own.

What's your perspective on teaching personal finance to your kids?

Why wouldn't you want to let left-leaning institutions teach your kids about money?

What practical activities can you do to help your kids understand personal finance?

Our Passive Income Report - October 2022

There are turbulent times ahead within our economy, and it's only wise to talk about some practical things people can do to create safety. People fear things they do not understand. So one thing we can do to be confident during these uncertain times is to educate ourselves and learn to take control of our financial functions. Understanding how money works is a crucial factor for our financial success. In this episode, Russ and Joey discuss their October passive income report and ponder the strategy they should be doing as they approach 2023. A word of advice: Don't start the New Year with a goal. Start the New Year with a PLAN to accomplish your goal. October 2022 Income At-A-Glance: Gross Income for October: $106,532.45 Total Expenses for October:$64,793.45 Total Net Profit for October: $41,739.00 Difference b/t September & October: ($23,516.09) % of net profit to overall gross revenue: 39%

Round Table | The Best Tax Advice I Have Ever Received

Tax preparation is one of the challenges faced by anyone earning an income. Realizing that you're giving away a massive chunk of your income instead of that money going into your pockets is a stressful thought. But what can you do legally to minimize the taxes you pay? What advice have you received from other people? What does your CPA know about taxes that would benefit you? These are the questions that will be covered in today's roundtable.

The mistakes people make

The upgrades they take

The tactics you can use to put it all together

How To Win in the Passive Income Game as a Group with Jonathan Day, Matthew Hammond, & Brent Noblitt

What does it mean to become part of someone's inner circle? Access to life-changing lessons, support, and influence are just a few words that describe the benefits of being a part of a winning circle. In today's episode, Russ and Joey engage in a value-packed discussion with three Inner Circle members. Jonathan Day, Matthew Hammond, and Brent Noblitt talk about how they started their financial freedom journey and became friends as they shared their experiences. If you want to compress time and get years' worth of information in under an hour, make sure you listen to this episode. It will definitely be worth your while.

Hearing information isn't enough. You have to take action.

IBC offers unlimited potential to get you started on your financial freedom journey.

Being in a community of like-minded people challenges you to push forward and do things you never thought possible.

Jonathan Day, Matthew Hammond, & Brent Noblitt

Jonathan, Matthew, and Brent are three guys who found each other inside the Wealth Without Wall Street Community and became friends. Together, they traverse the path to financial freedom using the Infinite Banking System as their primary tool. Now, they share their knowledge with everyone willing to listen and take action. Resources: Becoming Your Own Banker by R. Nelson Nash - https://www.wealthwithoutwallstreet.com/infinite-banking Getting Started with The Infinite Banking Concept Webinar - https://go.wealthwithoutwallstreet.com/ibc-webinar

Round Table | Reasons Not To Implement IBC Debunked

The Infinite Banking System is life-changing. However, many people are unaware of its potential to help achieve financial freedom. In fact, a lot of so-called financial advisors would not encourage you to do it. There are a number of different beliefs that people have about life insurance policies and IBC, which prevents them from implementing this financial system. So how do we know the truth between what we know, what others say, and what we hear from the financial industry?

What I think about IBC

Things that others have told me that I believe

The lies that the financial industry has been perpetuating

The Greatest Lesson Learned from Top Entrepreneurs with Jim Sheils

As you try your best to provide for your family or build your business, you tend to spend too much time away from them, and before you know it, your kids have all grown up, and you barely know them. So how would you like to give your family the same focused energy and attention as you do with your business? Today's guest lays the foundation for building lasting relationships with your spouse and children. Jim Sheils says you only have 18 summers with your children, so make them count! Discover how to make each conversation meaningful and memorable in this heartwarming episode.

We deny our spouses and children two things: an authentic apology and a sincere compliment.

Family life has nothing to do with perfection. Instead, it's all about bridging imperfections and making the most of our time together.

Three guiding principles when it comes to having that one-on-one with your kids.

Jim Sheils

Jim Sheils is the author of the Amazon bestseller "The Family Board Meeting." He developed the Family Board Meeting process to help business owners bridge the gaps between themselves and their loved ones. He is the founder of 18 Summers, which specializes in live events, workshops, and private consulting for organizations looking to strengthen their family lives while still succeeding in business. He also owns a private real estate company that has done more than $200 million in transactions. Jim is an avid surfer and enjoys traveling with family and friends. Most of all, he loves spending quality time with his wife and kids. Resources: The Family Board Meeting by Jim Sheils - https://www.18summers.com/book

Round Table | Building Your Investor Buy Box

What do you have in your buy box? Paying attention to building your Investor Buy Box gives you the clarity to determine what factors are important to your overall financial strategy. In addition, having your buy box criteria helps you efficiently filter a vast array of investment opportunities to the most desirable assets that align with your Investor DNA. So have you built your buy box?

The vision and the goal

What are the components of the buy box?

What do we do when we change that box to fit our growth?

The Billion Dollar Round Table | Takeaways from the Passive Income Mastermind Retreat

Have you ever wondered what it's like to join the Passive Income Mastermind Retreat? Well, live events change lives. No doubt. That statement is especially true for the recent Passive Income Mastermind event. If you weren't there to experience the life-changing gathering, this is your chance to hear the billion-dollar takeaways from the retreat. So don't miss out! Listen up and get access to super powerful ideas that will change the way you view your current situation. In this conversation, Mark Podolsky and Sharran Srivatsaa join Russ Morgan and Joey Mure to discuss their biggest takeaways from the event and share the Path to 200% Passive Income with you.

When you can define what financial freedom means for you, you will gain clarity.

Being in the company of people with diverse ideas will enable you to see options you were unaware of.

Financial freedom is not just about gaining a lot of money, but it's more about having time for the things that matter most to you and taking care of your health.

Mark Podolsky & Sharran Srivatsaa

Mark Podolsky, also known as The Land Geek, has been buying and selling raw land full-time since 2001, completing over 5,500 land deals. He is the author of Dirt Rich, the ultimate guide to helping you build a passive income model in raw land investing. In addition, Mark is the author of two top-rated podcasts, The Land Geek and The Art of Passive Income. Sharran Srivatsaa is a serial entrepreneur and sought-after keynote speaker. He is the CEO of Highland Prime, the host of The Business School Podcast, and the top advisor to CEOs of multi-million dollar companies. Sharran is also a 4x Inc. 500 Entrepreneur with 5 exits in the last 19 years. In addition, he created the 5am Club for Entrepreneurs. Resources: The Art of Passive Income Podcast by Mark Podolsky - https://podcasts.apple.com/us/podcast/the-art-of-passive-income/id1125069143 The Business School Podcast with Sharran Srivatsaa - https://sharran.com/podcast/ Join The Car Rental Game with Matty J - https://www.carrentalgame.com/ The Talent Code: Greatness Isn't Born. It's Grown. Here's How. by Daniel Coyle - https://www.amazon.com/Talent-Code-Greatness-Born-Grown/dp/055380684X Connect with Guests: Mark Podolsky Website - https://www.thelandgeek.com/ Sharran Srivatsaa Website - https://sharran.com/

Round Table | The 10-Year Accelerator Question

Time is a limited resource, and it goes by so quickly. So how does the knowledge of having very little time per day influence the way you make life-altering decisions? Would you have made very different decisions ten years ago versus ten years into the future? Why or why not?

Financial decisions

Health decisions

Family decisions

Our Passive Income Report - September 2022

The September Passive Income Report contains so many lessons. As always, you can find inspiration in the things Russ and Joey are doing, or you can explore your own ideas. What works for them may not exactly work for you, but there are people in the Wealth Without Wall Street Community who are always ready to provide support, and there are courses you can take to get started. For September, a large chunk of Russ and Joey's income came from their land and short-term rental businesses. Unfortunately, they had a temporary setback with their Ethereum Miners. Still, they were able to pivot quickly. Making adjustments is a necessary skill when it comes to engaging in multiple types of business. So let's dive in, see the numbers, hear the lessons, and get excited about Russ and Joey's plans for the future. September 2022 Income At-A-Glance: Gross Income for September: $131,899.04 Total Expenses for September: $66,643.95 Total Net Profit for September: $65,255.09 Difference b/t August & September: $29,472.93 % of net profit to overall gross revenue: 49%

Round Table | I Feel Behind Financially, What Do I Do?

Many feel that, no matter how much money they make in their active income, they are still behind financially. If you think you're in the same situation, this episode is for you. So listen up and take the opportunity to gain clarity and discover ways you can get ahead in your financial freedom journey.

What is the problem?

What things have you tried? Did they work or not?

What is the solution?

What To Do If You Want All Of Your Stuff Lost In A Lawsuit with Garrett Sutton

When a business owner or shareholder is held personally liable for the debts owed by their business, that’s called “piercing the corporate veil,” and it happens in almost half of all lawsuits against single-member, small corporations, and limited liability companies (LLCs). So how can you protect yourself from a similar situation? Forming an LLC or corporation can protect your assets and offer other benefits. But only if you do it right. That's what Russ, Joey, and their guest, Garrett Sutton, will discuss in today's episode. Garrett Sutton, Esq. is a corporate legal expert and the personal asset protection attorney for Rich Dad founder Robert Kiyosaki. Garrett is the author of Veil Not Fail. He shares the critical information business owners, entrepreneurs, investors, and high-wealth individuals need to set up and maintain secure corporate entities to protect themselves from personal legal exposure.

Basic rules and corporate formalities you need to follow to keep your legal entities in good standing

How to avoid a default judgment

How to reduce your personal liability in the event of a lawsuit

Garrett Sutton

Garrett Sutton is a corporate legal expert and has been in practice for over 35 years. He assists entrepreneurs and real estate investors worldwide to protect their assets and maximize their financial goals through sound management and asset protection strategies. Garrett is highly sought after as a guest speaker and serves as a member of the elite group of “Rich Dad Advisors” for bestselling author Robert Kiyosaki. In addition, Garrett has authored several successful books for business owners, including Start Your Own Corporation, Run Your Own Corporation, Writing Winning Business Plans, and Loopholes of Real Estate. These books are part of the bestselling Rich Dad, Poor Dad wealth-building book series. Resources: Veil Not Fail: Protecting Your Personal Assets from Business Attacks (Rich Dad Advisor Series) by Garrett Sutton - https://www.amazon.com/Bullseye-Business-Piercing-Veil-Corporations/dp/1947588168 Connect with Garrett Sutton: Corporate Direct Website - https://corporatedirect.com/

Round Table | What Would it Take to Create A Joint Venture?

If you want to expand your business or reach, forming a joint venture is one of the best ways. The opportunity to create joint ventures is tremendously exciting. It gives you access to more resources and technical expertise that you do not currently have. However, creating a joint venture is a big decision, and the setup depends on what you are trying to accomplish. So what would it take to create a joint venture?

Four core ingredients to every deal

Know your partner

Creating a win-win in every deal

How to Get a Million Dollar Portfolio of Property in 12 Months with 25k With Niti Jamdar & Palak Shah

The concept of counterfeit financial freedom is something that many people are not aware of. But once you experience the real thing, you'll never go the other way. Today's guests, Niti Jamdar & Palak Shah, have achieved true financial freedom through real estate investing using the BRRRR Method. This dynamic duo is known as The BRRRR Experts and Retired High Earners at 40. Tune in to this episode to discover how to build wealth by buying, rehabbing, renting, and refinancing your property, then repeating the process many times.

How to supercharge your portfolio in rental real estate

You have to master a few things if you want to scale fast

When you have an abundance mindset, opportunities come to you

Niti Jamdar & Palak Shah

Niti Jamdar has 20 years of experience in strategic leadership and was an Executive in Product Strategy and Finance for a Fortune 100 company. He is the strategic mind behind the exponential growth of Open Spaces Capital. After quitting her job as a mechanical engineer to spend more time with her kids, Palak Shah turned $25K into a 5M real estate portfolio in less than three years. She has been featured in publications such as Business Insider and BiggerPockets. Resources: Get the Free E-Book - https://www.openspaceswomen.com/ebook The CASHFLOW Quadrant by Robert Kiyosaki - https://www.richdad.com/the-cashflow-quadrant The One Thing by Gary Keller and Jay Papasan - https://the1thing.com/book/ Connect with Niti Jamdar & Palak Shah: Website - https://www.openspacescapital.com/the-owners Instagram - https://www.instagram.com/openspaceswomen/

Round Table | Questions from the Community

The best thing about being in the right community is getting support and guidance from like-minded people. In today's round table, Russ, Joey, and the Financial Freedom Coaches gather to answer questions from the community. The questions revolve around Infinite Banking, passive income, creative options, etc. Tune in to hear reliable information from these experts who have been implementing what they teach.

Is the Short-Term Rental Business Dead? with Kyle Stanley

With competition and interest rates rising, is it still a good idea to venture into short-term rentals? Today's guest says YES! Kyle Stanley created his path to financial freedom through Airbnb. Kyle teaches others how to navigate the challenges of starting and growing a short-term rental business through his Mastermind sessions and his Mentorship Program. He started The Fearless Investor in 2019 (originally called Fearless Flipping) to help others learn about investing in real estate. Kyle is a returning guest. You can catch his previous episode here: https://www.wealthwithoutwallstreet.com/podcast/the-fearless-investor-kyle-stanley

How to rise above the competition

Two ways you can start doing short-term rentals

How to navigate the current challenges in the short-term rental industry, specifically with Airbnb

Kyle Stanley

Kyle Stanley has been to many places in his career. He was a TV sports anchor, ran a sports videography, joined a recruiting business, and did a few sales jobs. It wasn't until September of 2018 that Kyle started to understand the power of real estate. The real “ah-ha moment” came when he fully invested his attention into Airbnb. In 5 months, Kyle went from $1,000 per month to $15,000+ per month! Fast forward to 9 months in, he was grossing over $25K! From there, he continues to grow his portfolio and his wealth. Kyle now teaches others how to build a profitable short-term rental business through his Masterminds and Mentorship Program. Connect with Kyle Stanley: Website - https://www.fearlesskyle.com/ Facebook Group - https://web.facebook.com/groups/airbnbmasterminds YouTube - https://www.youtube.com/channel/UCBPF4xCAE8n_Aat4-U8K0zQ Get $500 OFF on Kyle's Mentorship Program: Email: info@fearlesskyle.com with the Subject Line: Wealth Without Wall Street

Round Table | How to Invest in Deals Without Writing a Check

Did you know that the biggest challenge to financial freedom is the lack of access to cash? But who said you need to use your own money to start making deals and building wealth? Russ even says that writing a check is the worst way to make a deal. In today's round table, Russ, Joey, and the Financial Freedom Coaches discuss three ways to invest in deals without writing a check. So get ready to learn how to leverage the following resources to participate in investment opportunities.

Other People's Money

Creative Financing

Expertise/ Sweat Equity/ Intellectual Capital

Our Passive Income Report - August 2022

When you invest in different businesses, there will always be times when you'll experience hiccups, get distracted, and slow down on your marketing efforts. Other times, some things happen beyond your control. For August, Russ and Joey had some challenges which negatively impacted their passive income. Pay attention as they discuss the events of the past month, the lessons they learned, and what they could have done differently. They also share some exciting updates, like the sale of Chelsea Manor and the rebirth of 100 Unicorns. August 2022 Income At-A-Glance: Gross Income for August: $458,825.43 Total Expenses for August: $423,043.27 Total Net Profit for August: $35,782.16 Difference b/t July & August: ($19,600.13) % of net profit to overall gross revenue: 8%

Round Table | Paying the Penalty with My IRA

IRAs and other traditional retirement plans are designed to be left untouched until you retire. But what if you need cash flow for significant expenses? Should you make an early withdrawal? Your IRA has a hidden penalty you probably didn't even know existed—think about that for a second. Are you willing to pay the penalty? Tune in to today's discussion that covers 3 key aspects of your IRA so you can fully understand how much you pay in penalties when you put your money where it should not be.

Education - What are the facts?

Mindset - Are you terrified of your ability more than the penalty?

The Financial Aspect - What is the math behind this thing?

The ABCs of Land Flipping with Mark Podolsky

Did you know that investing in raw land has more potential than investing in other forms of property? In fact, land flipping has been a steady source of passive income for Russ and Joey for the last couple of years. In today's episode, they interview The Land Geek, Mark Podolsky. Mark has been buying and selling land full-time since 2001 and has completed around 6,000 land deals with an average ROI of over 300% on cash flips. Isn't that a great path to financial freedom? So if you want to know how to start your own land flipping business, tune in to this episode where Russ, Joey, and Mark talk about the ABCs of land flipping

You don't need a lot of money to start investing in raw land

Steps to starting your land flipping business

Why land flipping is a great way to build passive income

Mark Podolsky

Mark Podolsky, also known as The Land Geek, is the author of Dirt Rich, the ultimate guide to helping you build a passive income. He has been buying and selling land full-time since 2001 and has completed around 6,000 land deals with an average ROI of over 300% on cash flips and over 1,000% on the deals he sells with financing terms. Before his land investing success, Mark had a high-stress, soulless corporate job and felt trapped in a state of solo-economic dependency (i.e., his income stopped as soon as he stopped working). Connect with Mark Podolsky: Website - https://www.thelandgeek.com/