{"href":"http://player.captivate.fm/services/oembed?url=http%3A%2F%2Fplayer.captivate.fm%2Fepisode%2Faa601cde-25eb-4dc3-9c31-c10d4db6ae13","version":"1.0","provider_name":"Captivate.FM","provider_url":"https://www.captivate.fm","width":600,"height":200,"type":"rich","html":"","title":"Creating Massive Passive Income from Whole Life Insurance","description":"How can you get started creating mailbox money? As in, what assets can you buy that spin off cash into your pocket each and every month without you having to work to produce it? \r\n\r\nThat is called passive income and it is one part of the formula to financial freedom. \r\n\r\nThe formula to financial freedom (as we covered in episode03) is:\r\n\r\nPassive Income > Monthly Expenses = Financial Freedom\r\n\r\nToday\u2019s passive income source may be a surprise to you. \r\n\r\nIn this episode, we are discussion whole life insurance in a different light. As in, this is not the typical \u201cworst investment ever\u201d whole life insurance. \r\n\r\nInstead, this new age whole life insurance is a tax-advantaged warehouse for wealth that can produce passive income for you in multiple ways. \r\n\r\nNot surprisingly, most American\u2019s follow the Wall Street Mindset when deciding where to park their savings. The majority, you included, park much of their savings at a low-interest bearing, highly taxed savings account at a local bank. \r\n\r\nUnfortunately, today\u2019s .05% interest earned on savings has become accepted by American\u2019s. \r\n\r\nIn 2008, Russ Morgan pursued an alternative to these savings accounts. He studied for hundreds of hours, flew to conferences across the country and began implementing a new strategy within his personal savings plan. \r\n\r\nThat strategy was saving his cash in properly structured whole life insurance policies with mutual companies. \r\n\r\nFrom there, he saw results; and so did Joey. Joey saw a very large uptick in savings, and, discovered that there were many more benefits to saving in properly structured whole life insurance policies. \r\n\r\nBenefits like: \r\n\u2022\tGuaranteed growth (not backed by the market) \r\n\u2022\tTax-free access \r\n\u2022\tTax-advantaged growth\r\n\u2022\tCompetitive growth (2-5%) \r\n\u2022\tCompounding interest \r\n\u2022\tCreditor proof (in many states) \r\n\u2022\tTax-free death benefit \r\n\r\nThe Wall Street Mindset has taught you to think \u201cdeath insurance\u201d when you hear \u201clife insurance\u201d. However, in this episode, we are going to challenge you to see whole life insurance for what it really is. \r\n\r\nNow, we will warn you, an everyday life insurance agent should not set these policies up for you. It is absolutely vital you work with someone who works exclusively with these policies, is certified to do so and only works with people like you. \r\n\r\nDisagree about whole life as a savings vehicle? Tell us why below! We enjoy opposing perspective :) \r\n\r\nRESOURCES:\r\n1.\t(BOOK)- Becoming Your Own Banker \r\n2.\t(BOOK)- Building Your Warehouse of Wealth \r\n3.\t(BOOK)- The Power of Zero","thumbnail_width":300,"thumbnail_height":300,"thumbnail_url":"https://artwork.captivate.fm/a750c390-803b-46f4-b7c4-3e2ca5f6cadb/wealth-without-wall-street-podcast-artwork-2000.jpg"}