Please! Stop putting your money in the bank

In this video I want to share with you Guys why you should stop putting your Money in the bank Many of you have followed my journey for A while and how I started my blog so I Kind of came from nothing and then my Blog just took off so I've been making a Nice amount of money now and I make six Figures every single year on autopilot So now that my blog is just kind of Doing its own thing I'm expanding in Different areas now and my circle is Changing you know I'm hanging around People who have money now and the things That they're doing with money is like Things that I didn't even know was Possible like you don't put your money In the bank then what do you do with Your money you know these are the Questions that I had and I asked and I Found out and now I'm doing the same Thing I don't want you guys to be left Behind doing the same traditional things That we have been taught that is not for Our benefit so I want you guys to share This video like this video subscribe hit That Bell for notifications so you guys Are not missing out my content because My circle has changed and so has my Income and I want to share all this Stuff with you guys because you know no One ever shared this stuff with me and I'm gonna be sharing with all of you Guys because we need to know this stuff

We need to do things differently so I Have Marvin Mitchell with me today who's Going to show us why we should stop Putting our money in the bank and what We should do with it you guys ready Let's go hey guys I am so excited about Today's video and we have Marvin Mitchell with us today Marvin thank you So much for being with us today I'm so excited Whitney you know I love Your YouTube channel so I'm so happy to Be able to contribute to it today this Is going down in history yes yes this is Going to be a huge one because it's it's Going to go against what everyone has Been taught all of their lives now Before we get into it though I do want Them to know a little bit about yourself And then can you tell us how you even Became a financial advisor you know at First Sure um yeah I'm excited about that Because what I'm about to teach you Today is really something that's Untraditional I'm going to teach you how To make money five times off the same Dollar and how to leverage your money And how to become the bank and and how To you know build generational uh wealth An untraditional way so it's going to be Pretty cool but I didn't start off you Know really going into the financial Industry I'm actually the first person In my family to graduate from college

Once I graduated college I attended Law School in law school my grandmother Became sick with cancer so I moved back To my hometown of St Louis Missouri and Um and unfortunately you know well not Unfortunately but she made me her Durable power of attorney and her Financial advisor told her traditional Advice Don't worry about the market you're in It for the long haul my grandmother said Well I want to be safe and what happened Is she lost 50 of her money when the Market crashed she had no long-term care Insurance she ended up running out of Money passing away Um really on Medicaid and This is somebody who worked for the same Company for 30 years saved the Traditional way in a 401k and it's like You know this is when I knew something Was wrong and I needed to do something About it so I began to study finances I Began to read I began to do a lot of Different things and I decided not to go Back to law school and I started my Career as a financial advisor in a big Wall Street brokers firm and I'm Thinking that you know as a financial Advisor I'm happy you know I'm about to Change some lives and I realized that The system Of the big Financial brokerage firms was Just like the educational system they

Were training up people to be Um to be just like everybody else but The problem is is that everybody else is Running out of money statistically Speaking 76 percent of people run out of Money before they die and these are not Just poor people these are people who Actually middle-class Americans or People who had businesses that are Running out of money due to bad Financial advice so when I realized that That these big companies were more lined With lining up their own pocketbooks Instead of the client I realized that I Could not learn directly from this Industry so I began to study Millionaires and even a few billionaires And I wanted to know what were they Actually doing and they almost laughed As a trained financial advisor they Laughed at what I did because they said That is not how people accumulate Well Yeah if you want to work for somebody Else for 40 years and live like a miser When you retire and hope that your money Don't run out in survival mode before You die sure I guess that's a great Strategy if you want to be controlled by The government and you want the Government to tax you on all of your Money and they control the tax rate so You have no control if you want your Money locked up and in prison until You're 59 and a half I guess that's

Great advice but if you're looking to Really generate cash flow and build Financial Freedom this is what you do And they taught me some strategy and I Just been going around the world since Teaching those strategies I own a Financial firm I've been owning my own Financial firm for the past Um past 12 years and in 2021 just last Year I was actually voted into the Financial advisor Hall of Fame which I Was the youngest and also Um I think the second African-American Ever to be inducted into the Hall of Fame and it was pretty excited because It showed me that people want this Information they're tired of the old way And they want the new way Awesome all Is so awesome thank you okay so now the Name of that this video is stop putting Your money in the bank and that is not Just for clickbait and I'm doing the Same thing I'm practicing the same thing That you're teaching so why should People stop putting their money in the Bank Well the thing about it is Um Use the bank don't let the bank use you And the issue is the banks are going to Keep your money they're going to pay you A very low interest rate and then They're going to take that money and

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Then they're going to do mortgages and And invest your money out and they're Going to make 10 times 20 times as much Money as you so they're using your money Is the bank assets if they don't invest Your money that money is a liability so If you're going to use the bank use it The smart way but I tell people how to Actually become their own bank and build Their own bank and the way that you Build your own bank is through what a a Strategy that we're going to talk about Today that's going to build tax-free Wealth that's going to give you more Interest in a bank that's going to grow Tax deferred it's going to allow you the Ability to pull it out tax-free it's Going to have liquidity use and control And you and you can leverage and you can Leverage those dollars all right so all Right let's get into it now so how can Someone do that There is a secret that the ultra wealthy Use and really it's not just for the Ultra wealthy it's for everybody almost Like really if you're if you're in Middle class even middle class even Making over forty thousand dollars a Year uh if you're an entrepreneur making Multiple making six figures multiple six Figures if you're a millionaire you can Use this strategy in some way so the Problem is is that we've been using life Insurance the wrong way Whitney

The reality of it is we call life Insurance we use life insurance for the Death benefit only but see it's not Called Death insurance it's called life Insurance and it's called life insurance For the reason for a reason because People have been using life insurance For centuries to actually invest before 401ks came about before any of these Things came about people were storing Their money in life insurance and it's One of those things that has gotten away For most people because the government Has promoted 401K plans because they Want your money to grow tax deferred and They want to tax your money more but Life insurance will never get taxed Again you can borrow against that money So when you structure this life Insurance policy you want to over fund The policy and it needs to be permanent Not termed term insurance does not have These benefits term means temporary it Actually expires after a certain amount Of time but permanent life insurance When properly structured You structure it for the lowest amount Of death benefit and the highest amount Of cash value therefore most of your Money will go into the cash value once That money grows into the tax the cash Value is going to keep growing tax Deferred as if you never touched it You're going to have liquidity to borrow

From that money sometimes in as little As 30 days and now that's when you can Learn how to build cash flow and Multiply your money three to five times Off the same dollar can I go ahead and Tell people how to multiply their money Three to five oh go ahead go ahead go Ahead You sure you should be ready for it Because this is gonna be all right y'all Three to five times off the same dollar Let's talk about it First off I got to give you a little Pre-frame if I have a hundred thousand Dollars on Whitney and let's just say I'm earning five percent interest if I Have a hundred thousand that's earning Five percent one year later I got a hundred and five thousand mm-hmm If I put that money into a life Insurance and I have a hundred thousand It grows five percent one year later I Have a hundred and five thousand here's A here's a magic trick though if I have A hundred thousand dollars and I borrow Thirty thousand dollars for my policy How much money do I have in a in a Policy one year later if it's earning Five percent the answer is it's still a Hundred and five thousand because I Didn't spend the thirty thousand dollars I just borrowed against the thirty Thousand dollars so if I borrowed Against it I didn't touch the asset so

The asset continues to grow as if I Never touched it so if I know that if my Money can still grow as if I never Touched it why wouldn't I use it to Borrow against it to buy assets so now This is how you make money two times off The same dollar imagine if I borrowed From that and I go out and I buy me oh By the way this is important you don't Even have to pay it back Now I want you to pay it back because if You pay it back it's going to increase Your borrowing capacity Um your ability to borrow more in the Future but if you don't pay it back it's Simply subtracted from the death benefit When you die so if I have a hundred Thousand dollar cash value and a five Hundred thousand dollar death benefit When I died at thirty thousand dollars Plus interest is subtracted from that Five hundred thousand dollar death Penalty so knowing that it gives me the Ability to know I should be borrowing From that policy so I borrow from the Policy I go out and I buy a real estate Investment that's generating me cash Flow so now I made money two times out The same dollar because that that Insurance Cash value is still growing as if I Never touched it now I'm making income From the real estate Three times off the same dollar let's

Just say I get really smart with credit I know I have the capacity to to have Credit business credit to actually spend Money so I go out and I buy me an asset Let's say to real estate and I use my Credit turn that to cash then I bought a Real estate but I pay it off pay the Credit off right away with my cash value By borrowing against it now I'm making The money off the cash value as if I Never touched it I got all of the points With a paid off credit card Okay gotcha okay pretty cool now I've Made money three times off the same Dollar Can I go deeper you can go deeper Four times out the same dollar I got the credit card got the asset paid The credit card off of my insurance Policy got the asset still now the asset Let's say if this real estate has grown Um in a liquidity and I do uh a HELOC I Borrow from that and I go out and do a Down payment for another policy now I Got two policies to generate me cash Flow I got the points for the credit Card and I got the insurance policy That's still growing as if I never Touched it that technically I don't have To pay it back because if I don't pay it Back and subtract it for my death Benefit so So the fifth way is to get smart about Taxes right I can go out and actually I

Can actually get me a trust set up I can Set me up a dynasty trust and if I set Up a trust the right way especially for Tax Provisions I can minimize my Taxation I can protect my assets and Have all of those other strategies that I just mentioned to you so that's five Times off the same dollar minimizing my Taxes where most people their money is Gone after the first generation so There's three different types of people When it comes to money you have a debtor You have a saver and then you have a Wealth creator the debtor goes into debt And then they spend their life Attempting to get out of the red race They're debtors their only goal is to Get debt free they say if I can only get Debt free I will be financially free but In reality if you become debt free that Way you're only at zero there are Homeless people on the street that are At zero but that doesn't mean they're Debt free uh Whitney the second type of Person is a saver so they're going to Save save save save and then they're Going to pay cash they're going to save Save save and then they're going to pay Cash while they're not in debt and that Actually sounds better the problem is is That every time they pay cash they lose The forward momentum of their money and They lose what's called opportunity Costs opportunity cost is the money that

They could have earned had they not Spent that cash so if I have a hundred Thousand and I spend 30 I only have Seventy thousand now I'm only earning Interest on Seventy thousand I won't Earn interest on a hundred thousand Again until I build my account back up To over a hundred thousand so I missed The interest on that thirty thousand Dollars of full time The wealth Creator is what I teach People how can you save the money just Like the saver and grow it but you never Stop the forward momentum of money so When you borrow against that not only Can you borrow against it to buy assets But that curve never goes backwards it Only goes forward because you use Collateral you didn't use your cash now How have you personally used this oh my God that is so fun thank you that was a Great question because so many people Never want to know are you actually Doing what you say you teach so so I've Used this in so many ways Um one way that I've used it is of Course I've I own 422 units of real Estate so I borrowed from my policy to Partner with some individuals and use my Money for the down payment for the 422 Units part of the properties and um and I earned a cash flow of about twenty Thousand dollars a month uh doing that And it all started with my policy so it

Didn't come from out of pocket I didn't Have to go to the bank in order to get My down payment now we did use the bank For the rest of the money but that's a Whole nother story Um also I have a Lamborghini now when I First brought the Lamborghini I paid um It was it was only a twenty thousand Dollar down payment because I had car Credit I got that from my cash value Policy and I said I'm going to rent this Out on the Lamborghini ran it out when I First got it it rented out for about Thirteen hundred dollars a day and it Was only four thousand dollars a month For the note so you you can see I've Used my policy and keep in mind the Policy kept growing as if I never Touched it another way that I've used my Policies I have a two million dollar House in Atlanta I don't even live in Atlanta but I got a no doc loan hundred Thousand dollars I borrowed that for my Policy and every time I borrow when I Get my profits I pay it back so I can Keep increasing my borrowing capacity And um and I rent that out that rents Out Um as well for about 23 to 2500 per day So that makes on average fifteen to Twenty thousand dollars a month uh my Payment for the house is about seven to Eight thousand dollars a month so that Earns a cash flow and it's only ten days

Um out of the month that I would rent it Out so I get to stay in the rest of the Time when I go to Atlanta so that's Another way my policy still continues to Grow as if I never touched it and one of My favorite plays that I did Um I did a play with options Um where I actually borrowed from my Policy and this is when Gamestop was Going crazy Um GameStop Uh was going way way up and and this is A little bit of knowledge for me from Being a financial advisor I knew that they weren't going to be Able to maintain that so I borrowed Money from my policy a hundred thousand Dollars put into a brokerage account did The option play with that with that for One day that it would go down by a Hundred points which was risky so don't Try this at home but it actually did and I made over three hundred thousand Dollars in a day of course I had to pay Taxes on that money but I made three Hundred thousand dollars in a day on That so there's so many ways to utilize This I've just scratched the surface but Understand it gets fun when you truly Learn how to make this work for you Right and if you would have lost that Money it would have just been subtracted From the death benefit yes I can take That calculated risk because if I would

Have lost it would have been it would Have been horrible but at the same time It would have just been subtracted from My death benefit when I died so I would Have had time to kind of recover from it So that's the only reason I would not Have taken that risk if it was with cash Right exactly oh I love this this is This is so good Okay my mind is blown like I don't even Know How can we learn more from you Marvin Like because I need like step by step How do I do all this stuff look I just Gave you I had really 15 to 20 minutes You all to give y'all some gyms Hopefully y'all got at least your mind Expanded that the traditional system is Failing individual 76 of people are Running out of money Social Security is A promise to you anymore pensions are Already going away so if you don't do Something different you might even be Worse than the previous generation so if You want to learn more I'm gonna give You two ways first you can join our next Five day virtual challenge which is Hell Via Zoom And on that challenge we got VIP and we Also got General VIP you get to ask Questions to me in my end storm and Ash Who are also multi-millionaires face to Um not face to face but via Zoom where We can see you you can see us kind of

Like now right and we're going to answer All of your questions and we're going to Teach you Five Lessons that's going to Lead you to Financial Freedom and um I Know you're gonna post that link Just so you guys know yeah try to backslash P2P and I'm Gonna put it in the description below so You guys can uh sign up for the Challenge this is awesome but go ahead What's the other way in the second way We'll allow you to have a complimentary For your listeners and your viewers Strategy called with my team because we Actually write these policies we help People to become financially free so That you don't have to figure it out Because 90 of Agents don't do it the Right way and if you do it the wrong way You're going to pay 70 more commission So you want to avoid that so if you want To get with my team just visit wealth there's wealth And we got you covered awesome awesome Now did you say the date for the Challenge I don't know Yeah so the good news is we do this um We do this systematically so this is Going to be Evergreen I'm pretty sure This is going to live for a long time Um but we do it typically every couple Of months I know the next one we got is In January and then we're probably gonna

Do one in March so when you go to the Website it will have the dates on the Challenge but before you guys leave I do Have to clarify now when I say stop Putting your money in the bank what I'm Trying to say is stop putting all your Money in the bank have just enough money To put in the bank so it can cover your Bills but everything else should go Towards your life insurance it's going To go this route this is the ways of the Wealth this is how they do their money And that's how they can borrow against All this money tax free and they don't Have to pay it back if they don't want To because it just goes off of the death Benefit if they don't but you still do It because you want to increase your Borrowing capacity that's what I'm doing And that's how I'm able to get into real Estate and do these different things and Not use my own money so I hope this all Makes sense definitely check out his Challenges have a step by step and be Able to ask different questions like This and to see if this is all right for You alright thanks guys for watching and Have a great day and I hope if you Enjoyed this video if you made it to This and you're still watching this make Sure you put I made it in the comment Section so I know that you got to Actually stick around until the end of The video alright thanks for watching

Make sure you subscribe share this video This has to get around because we need To know the ways of the wealth I want You guys to be doing the same thing all Right all right thanks for watching have A great day

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