How to Invest - Becoming Your Own Banker: Part 32

How to Invest - Becoming Your Own Banker: Part 32
0:04:03 - Financial Philosophy and Investment Strategies
0:14:20 - Optimizing Personal Finance for Wealth Growth
0:20:55 - Understanding Average Rates of Return
0:26:47 - Financial Control and System Philosophy
0:31:30 - Managing Finances With Two Separate Banks
0:33:53 - Automatic Savings for Long-Term Goals
If you want to build wealth, reach your financial goals for retirement income, and be able to take care of everything from college for your kids to paying for cars, your home, and a lifestyle you enjoy, the most common first question is, “How do I invest?”
In his signature book, Becoming Your Own Banker, Nelson Nash reveals that changing your financial environment is the lynchpin to financial freedom. For today’s discussion, we’re returning to the text to talk about financial philosophy - the typical philosophy vs. the successful philosophy, and how to finally get results by changing your thinking.
We’ll discuss why rates of return are a red herring, touch on the importance of dividend rates, and explain why you should understand your finances as a system rather than a process.
Prepare to redefine success beyond the allure of high investment returns, and instead, learn to master the art of personal finance by controlling your financial destiny. This episode unpacks the necessity of substantial liquid savings and the strategic management of capital, which together forge a path to superior financial control and efficiency. We shine a light on the often-overlooked reality that a substantial part of our income dissipates through financing charges, and underscore the essential nature of a robust emergency fund before taking investment leaps.
Venture with us through the evolving financial paradigms, reflecting on how Bitcoin, the expanding US balance sheet, and a worrisome debt-to-GDP ratio are sculpting our economic landscape. Bruce and I explore how American consumerism shapes our spending and the significance of developing a financial acumen that evolves from unconscious incompetence to unconscious competence. With Nash's financial philosophy as our guide, we dissect the drawbacks of conventional financing and celebrate the empowerment that comes from holding the reins of one's financial affairs.
Finally, we address the surge in inquiries about judicious fund allocation, proffering not a prescriptive investment playbook, but a transformative perspective on money management. I share effective banking strategies that foster automatic savings and the wealth accumulation snowball effect. As we guide you through the intricacies of financial control, we to equip you with the insights necessary to recalibrate your financial habits for a future rich in prosperity. Join us for a conversation that promises to elevate your financial literacy and position you for long-term success.
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👉 👉 Listen to The Money Advantage podcast: themoneyadvant...
👉 👉 Ready to move forward with Privatized Banking, alternative investments, or cash flow strategies to coordinate your finances so that everything works together to improve your life today and accelerate time and money freedom? Book an Introductory Call with our team today: themoneyadvant...

[@TheMoneyAdvantage]

How to Invest - Becoming Your Own Banker: Part 32 If you want to build wealth, reach your financial goals for retirement income, and be able to take care of everything from college for your kids to paying for cars, your home, and a lifestyle you enjoy, the most common first question is, “How do I invest?” The answer is that delaying gratification to build substantial holdings of liquid wealth by increasing your savings is far more important than finding the right investment with the highest rate of return. In his signature book, Becoming Your Own Banker, Nelson Nash reveals that changing your financial environment is the lynchpin to financial freedom. For today’s discussion, we’re returning to the text to talk about financial philosophy - the typical philosophy vs. the successful philosophy, and how to finally get results by changing your thinking. We’ll discuss why rates of return are a red herring, touch on the importance of dividend rates, and explain why you should understand your finances as a system rather than a process. So, if you want to make the best financial decisions, tune in now! 👉👉 Want the Exact 🏦Privatized Banking🏦 Strategies Our Clients Are Using to Build Financial Freedom? CLICK HERE For the #1 Secret: privatizedbankingsecrets.com/... 👉 👉 Listen to The Money Advantage podcast: themoneyadvantage.com/subscri... 👉 👉 Ready to move forward with Privatized Banking, alternative investments, or cash flow strategies to coordinate your finances so that everything works together to improve your life today and accelerate time and money freedom? Book an Introductory Call with our team today: themoneyadvantage.com/calendar/

[@JoãoAlvesSardinha]

Thank you for your channel! I have learnt a great deal since discovering your channel. Liked the thought of prioritizing and capitalizing savings.

[@TheMoneyAdvantage]

You are so welcome!

[@siulanainad]

Fantastic!!!! Back to the basics. If people would get this and applied it they would be in much better shape.

[@TheMoneyAdvantage]

Thank you for the positive feedback!

[@JoãoAlvesSardinha]

I have learnt a great deal through this channel. I liked the thought of prioritizing savings and capitalizing the savings.

[@TheMoneyAdvantage]

Thank you for sharing your feedback! I'm glad to hear that you found the content valuable and helpful.

[@jjsoccer1010]

As Bruce mentioned the rate of return on the $100K losing 20% and then the next year gaining 20%…….All I could think was that this becomes CASINO math. It appears to be a win and yet it’s a $4,000 ding to your personal finances. You guys are spot on with your ROR thinking. Control the Banking function as the main priority first, then do those other things of life. 🎯 When you see it, you can’t unsee it. Hence Nelson’s great philosophy GOLDEN RULE of; ‘Rethink Your Thinking’. 👍

[@TheMoneyAdvantage]

Thank you for appreciating our approach to rate of return analysis!

[@iant720]

Forgive me if I missed an episode.. Can you talk about financing daily needs like gas, groceries, bills with IBC? Would it be smart to use a credit card to purchase all for a month, then take out a IBC loan monthly to pay off the statement? Or take a loan out every 6 months for projected spending? thanks!

[@TheMoneyAdvantage]

We have discussed this in multiple episodes; if you watch the entire BYOB series, you will find it. The bottom line is that IBC makes the most sense for large-ticket items, especially acquiring assets/investments.

[@mgallegos4708]

Can you give some perspective on bitcoin in a future episode?

[@TheMoneyAdvantage]

Thank you for the suggestion! We will consider that for a future video.