Conventional wisdom says that you should always be pouring money into an IRA or 401k to plan for your eventual retirement. You’re taking money from yourself today, only to pay yourself back in the future. But what if there’s a better way? Russ Morgan and Joey Mure co-founded Wealth Without Wall Street, a company that teaches business owners to put their money to better use than squirreling it away in stocks, a checking account or traditional retirement account.
The strategies Joey and Russ have developed allow business owners to create lasting wealth and positive cashflow today, setting them up for true wealth in retirement.
Joey Mure’s Bio:
Joey Mure, aka, The Stallion started his career in the mortgage business in 2003. He grew to become a branch manager with one of the Nation’s top mortgage lenders leading 25 loans officers. By 2010 he had achieved national recognition. Despite earning an impressive income he still had significant questions about how to save for the future without having to borrow from banks. How does anyone save aggressively for retirement AND simultaneously pay for automobiles, save for college, weddings, and vacations? In 2010 Joey met Russ, who shared the Infinite Banking Concept and everything changed. IBC allowed Joey to get completely out of debt besides paying off his mortgage, he started saving four times the amount he had previously been saving, and now had a clear plan of how to save for all our life’s expenses without giving up retirement savings. Joey decided to join Russ and cofounded a company called Wealth Without Wall Street. They teach people to stop trading time for money to achieve financial freedom by following the 5 Pillars of Wealth Without Wall Street.
Russ Morgan’s Bio:
Russ Morgan, aka, The Idea Guy, started his career in the financial industry. With 4 years of planning under his belt, Russ was stunned in September of 2008 to see the DOW Jones plummet 800 points. He had no idea that the market could react in such a volatile manner and knew this was something he could never have control over. Russ began a journey that day to passionately understand more about how to take back and gain control over his money, as well as that of his clients. Russ believes that it’s time you stop following conventional planning methods and start thinking for yourself. He enlightens business owners and investors with the knowledge they need to make sound financial decisions. The best path to financial freedom is one that frees you to make decisions that allow your money to grow, allow you to have access to this money, and to protect this money from market swings and tax regulations. Yes, all of this is possible, and Russ thrives on helping people in their journey to reach this financial freedom.
What you’ll learn about in this episode:
- Why building wealth both inside and outside of your business is the most optimized way to achieve your goals
- How Joey realized that he wasn’t on the right career and wealth-building path and needed to make a change and how Russ helped Joey learn the secrets of efficiently building wealth
- How “wealth without Wall Street” is a money mindset that allows business owners to build wealth without taking all the risk of investing in Wall Street
- Why a checking account is one of the worst places to keep your money, and why your business is one of the best places to invest your money to create long term gains
- Why putting money in an IRA or a 401k is really just deferring cashflow until a later time, and why creating cashflow today is much more important
- Why becoming your own banker and loaning your money back to your business can completely reframe how you view your money
- How life insurance can be used in a way similar to a home equity line of credit, giving you cashflow without lowering in value
- How using your money in your business can offer a powerful payoff by freeing up more time and money for you to grow your business even more
- Why there are many options to invest your money even outside your business that create monthly cashflow
- Website: www.wealthwithoutwallstreet.com/onwardnation
- Joey Mure’s LinkedIn: www.linkedin.com/in/joey-mure-b376824/
- Russ Morgan’s LinkedIn: www.linkedin.com/in/russ-morgan-72595519/
- LinkedIn: www.linkedin.com/company/wealth-without-wall-street/
- Facebook: https://facebook.com/wealthwithoutwallstreet
- Twitter: @withoutwallst
- Free Executive Leadership Summary report from Predictive ROI: https://predictiveroi.com/research
- Sell With Authority by Drew McLellan and Stephen Woessner: https://amzn.to/39y7x13
- Predictive ROI Free Resource Library: https://predictiveroi.com/resources/
- Stephen Woessner’s LinkedIn: www.linkedin.com/in/stephenwoessner/