Success Story with Scott D. Clary
Lessons - How To Be Your Own Bank | Chris Naugle - Co-Founder & CEO of The Money School
Published on Sep 21, 2024, 11:18:52 PM
Total time: 00:12:29
Success Story with Scott D. Clary
Published on Sep 21, 2024, 11:18:52 PM
Total time: 00:12:29
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In this "Lessons" episode, Chris Naugle, Co-Founder & CEO of The Money School, joins us to discuss implementing a private banking system that allows you to earn on both savings and loans. Chris explains how specially designed whole life insurance policies can function as your own bank, enabling you to leverage your money and achieve financial freedom.
Private Banking System: Chris explains how a private banking system allows individuals to save and borrow money simultaneously. By changing where you save, you can earn on both your savings and loans, turning your money into a powerful tool that works for you multiple times.
Changing the Paradigm of Saving: Many people are conditioned to save in traditional banks or investment accounts, which often offer minimal returns. Chris emphasizes the importance of keeping your savings in specially designed whole life insurance policies, where your money continues to earn interest and dividends while being available for loans.
Wealth Building through Compounding: The key to building wealth lies in the compounding effect of your savings. As you pay off debts and grow your policy, the amount of interest you earn increases, allowing for greater financial freedom and investment opportunities over time.
➡️ Show Links
https://successstorypodcast.com
YouTube: https://youtu.be/nufTUI2pSEE
Spotify: https://open.spotify.com/episode/0CWd38KL9OeR4FDb9vOVBV?si=Ox0zfQzoQIuNJkjQchSNAQ
➡️ Watch the Podcast On Youtube
https://www.youtube.com/c/scottdclary
Welcome to the Success Story Podcast, hosted by entrepreneur, business executive, author, educator & speaker, Scott D. Clary (@scottdclary). On this podcast, you'll find interviews, Q&A, keynote presentations & conversations on sales, marketing, business, startups and entrepreneurship. Scott will discuss some of the lessons he's learned over his own career, as well as have candid interviews with execs, celebrities, notable figures and politicians. All who have achieved success through both wins and losses, to learn more about their life, their ideas and insights. He sits down with leaders and mentors and unpacks their story to help pass those lessons onto others through both experiences and tactical strategy for business professionals, entrepreneurs and everyone in between. To get more of the Success Story podcast, go to www.successstorypodcast.com.