Aug 4, 2020
There are money rules that the wealthy know, that the middle class does not. One of those insights is that the wealthy stay in full control of their money. One of the strategies they use is called infinite banking.
Chris Naugle has developed 16 companies and built tens of millions in real estate. He is the creator of The Money Show and The Money Multiplier. Chris learned the infinite banking strategy from conversations with ultra-wealthy contacts and learned that this had been in practice for decades. With Chris’s background as an entrepreneur, real estate investor, and financial advisor, he was surprised to learn about the tool. In this episode, we hear the lessons learned on Chris’s journey as an entrepreneur, how he structured his loans, and how he used infinite banking to wipe out his debt.
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Quote: We are taught to give up control of our money, but the wealthy are in control of their money
Quote: The best way to raise money is by solving other people's problems
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Thought he had to do everything himself when he had his retail stores. 9/11 forced him to promote his employees and have them run the stores as they saw fit because he had to work another job. This taught him how to work on his business and not in his business.
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