Bank on Yourself with Mark Willis

The Cashflow Project

Join Steve Fierros, as he chats with Mark Willis, as they chat about how to bank on yourself. As a child, Mark experienced depositing cash in a bank for the first time and immediately did not like the feel of it. Thought to himself, he gave a guy in the bank his hard-earned money and never see it again, whereas he could use that money to finance other efforts. In this episode, Mark shares how to be your own financier, control your own assets, and be more in charge. Mark likens the banking system to a doorless microwave which totally makes no sense in having, and is now enjoying the accessibility of his own money. More to learn in this episode about policies and what to watch out for in self banking policies so be sure to stay tuned!

Understanding your own policy:

Mark warns that some policies often yield so many expenses that it becomes counter-productive instead of being a source of income for future endeavors. He shares how instead of sticking to the usual policies that he would be given by a bank, he started making a list of things that he would want his money to do for him instead. He shares some pointers as well such as wanting his money to be accessible, have a rate of return, and liquidity among other things. Mark shares how these insurances made it possible for him to pay off his student loans and even use the money to buy a car or other properties, all with the help of insurance policies.

Mark shares how inspecting the insurance policy is of utmost importance as due to the number of insurance agents in the country, some of these policies are not designed as properly as it should be. Finding the right insurance policy and the right agent to work with that has the right credentials as well may be difficult but this ensures that the policy works for the interest of the client and also ensures the yield. He also shares how this allows long-term investing because if the policy is correctly built, money could be used for putting up businesses, sending kids to college, starting up different projects, and many more.

About Mark Willis:

Mark Willis is a man on a mission to help you think differently about your money, your economy, and your future. After graduating with six figures of student loan debt and discovering a way to turn his debt into real wealth as he watched everybody lose their retirement savings and home equity in 2008, he knew that he needed to find a more predictable way to meet his financial objectives and those of his clients.

Mark is a CERTIFIED FINANCIAL PLANNER™, a THREE-TIME #1 Best Selling Author, the Owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois, and co-host of the Not Your Average Financial Podcast™. Over the years, he has helped hundreds of his clients take back control of their financial future and build their businesses with proven, tax-efficient financial solutions unknown to most financial gurus. He has become known as “Not Your Average Financial Planner!”

Outline of the episode:

• [01:36] Mark’s background and investing journey
• [04:38] The strategy to banking on yourself
• [11:58] Taking advantage of your present assets
• [16:28] Understanding the clauses and policies
• [21:02] How cryptocurrency fits in these policies
• [24:40] Fire round with Mark
• And many more!

Connect with Mark Willis:

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