How “The Go-Giver” Changed My Life & Business w/Nick Kosko

Breakaway Wealth: Episode 9 – What the world tells us about how to sell and work is framed on taking and getting— but this isn’t the true path to fulfilling, lasting and impactful success. Why is it so important to focus on giving and serving? How do we learn how to give for the right reasons? What are the steps to becoming a giver, being of service, and learning not to keep score? On this episode, Nick Kosko and I discuss the book, The Go-Giver, how it has influenced the business we do, and how it can change us as entrepreneurs, spouses and parents.​

“You’re going to get more than you expect by just giving more.” -Jim Oliver

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Three Things We Learned from this Episode

  • Where the concept of “giving” goes wrong

The dark side to giving is giving expecting to get things back. We have to be willing and able to give value and not worry about what is coming back, because that’s not what it’s about. Don’t keep score and instead choose to be impactful for the sake of others, not ourselves.

  • The importance of authenticity

Authenticity is confidence, and confidence is an abundance mindset. If we try to be like other people, that is scarcity. What we’re saying when we try to replicate others is that being ourselves isn’t good enough, and that we can’t be appreciated as we are. Authenticity and confidence don’t just happen. It is a skill set, and you have to develop it.

  • The 3 stages of a business, and why the third level is about giving.

The first stage in business is survival. When our business starts doing well, we become safe and start succeeding, but that’s not where it ends. The most important stage of business is making a contribution to the world and being of service. When we become successful, it’s also because of people were very giving to us, and we have to pay that forward.

 

How we measure success isn’t in the amount of money we amass or how well-known we are. The true measurement of success is who we are and how we show up in the world. When we choose to be givers, we set ourselves on a trajectory that makes our lives a lot more fulfilling and the world a better place. The Go-Giver is tailored to help you become a servant of other people, without keeping score. It’s also designed to make us gracious receivers. The 5 laws of being a giver are value, compensation, influence, authenticity, and receptivity.

The Power of Adopting Discomfort and Making Motivation a Habit w/Todd Fleming

Breakaway Wealth: Episode 8 – The biggest moments of growth in our lives come from pain. Why is pain so much more powerful than pleasure when it comes to creating change and real progress? Why is motivation a habit? What actions can we take to turn the direction of our money and get it to work in our favor? On this episode, entrepreneur and author, Todd Fleming, talks about how he broke away from the system and shares the amazing ventures he’s working on.​

The result of adopting pain and discomfort is actually comfort.” -Todd Fleming

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Three Things We Learned from this Episode

  • The two tiers of consequence

There are two types of consequences. When you adopt pain and discomfort, the result is comfort. When we go to the gym or take on the discomfort of investing and doing the right things with money, it eventually leads to comfort. When you do things that are comfortable in the moment, the result is discomfort in the long-term.

  • Why financial freedom is 100% a choice

Financial freedom is something we can decide for ourselves. It doesn’t have to be forced on us. It’s simply a matter of following a financial blueprint and committing to it. If we follow the steps, we can have financial freedom in a few years.

  • The truth about motivation

Motivation is not something you wait for. It’s something you have to adopt and work to make a habit. It’s not just about doing the bare minimum of making it a habit for 21 days, but to keep it going for 90 days so that the habit becomes ingrained in us.

 

Financial freedom is a choice we all have to make for ourselves, and it’s never too late or too early to do it. The first key we have to understand is paying ourselves so that we have money to build a foundation with. It’s also important for us to understand the true value of the things we buy. We have to reduce the things we buy that have a value that goes down to zero and hold close to things that stay as close to their original value as possible.

 

Guest Bio

Todd Fleming is an entrepreneur, real estate investor, author of If You Can’t Wholesale After This: I’ve Got Nothing For You and upcoming book If You Can’t Cash Flow After This: I’ve Got Nothing For You. He is the co-founder of The Kingdom Real Estate, a coaching organization, and host of Power of Finance. Go to https://thekingdomrealestate.com/ for more information, and find his books on Amazon. Follow him on Instagram https://www.instagram.com/todd_m_fleming/ or find his podcast on https://poweroffinance.com and https://toddmfleming.com.

Equipment Financing: How to Make Money Flow Back to You Without Taking on More Risk w/Jim Anderson

Breakaway Wealth: Episode 7 – One of the most powerful stories in Becoming Your Own Banker is the story of Nelson Nash’s nephew who had a logging business. How did Infinite Banking help him finance the equipment he needed for his business? How did this concept make him almost $500k richer? On this episode, we talk with Jim Anderson about equipment financing and how business owners can use it to build wealth​.

“A paid-up addition is like a helicopter which gives you available cash to use right away. The base premium is like an airplane that becomes efficient when it gets to altitude.” -Jim Anderson

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Three Things We Learned from this Episode

  • The volatility that comes with the stock market 

A lot of people put their financial future in stocks. The problem with this is that you won’t have peace of mind. What if something happens in the global economy that causes the stock market to crash? This is something we don’t have to worry about when we do Infinite Banking.

  • How insurance companies work, and how to choose the right one

Stock companies are owned by shareholders, and mutual companies are owned by policyholders. When we buy an insurance policy with a mutual company, in effect we become owners of that company, and we have more control.

  • The need for business knowledge in the medical field

Medical students are working towards professions where they will be earning more money than the average person, and actually running a business when they set up their practices. However, they aren’t given any sort of business training, leaving a need that must be addressed.

 

Infinite Banking offers us something very few other investment opportunities give us, which is peace of mind. The IBC offers uninterrupted compounding of our money and better insight into how money, economics, and cash flow work. You can also create financial stability for generations to come. The ability of this concept to grow and have tax free death benefits means it outperforms any stock.

 

Some examples from Nelson Nash’s book, Becoming Your Own Banker:

Illustration 1: 

 

Illustration 2: 

IBC vs. The Stock Market: How to Create Financial Freedom With Peace of Mind w/Matthew Anderson

Breakaway Wealth: Episode 6 – Many people opt for stocks as their vehicle to financial freedom, but this comes with risks. What are some of the ways the Infinite Banking Concept beats any stock? What is the difference between stock insurance companies and mutual insurance companies? Does a perfect investment exist?

On this episode, Matthew Anderson shares on working towards financial freedom after years of med school, and why he favors having control of his money over anything else. He gives us valuable insights as a young person who has embraced Infinite Banking.

“Financing is the easiest and probably one of the safest ways to make money. Why wouldn’t you want to do that yourself?” -Matthew Anderson

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Three Things We Learned from this Episode

  • The volatility that comes with the stock market 

A lot of people put their financial future in stocks. The problem with this is that you won’t have peace of mind. What if something happens in the global economy that causes the stock market to crash? This is something we don’t have to worry about when we do Infinite Banking.

  • How insurance companies work, and how to choose the right one

Stock companies are owned by shareholders, and mutual companies are owned by policyholders. When we buy an insurance policy with a mutual company, in effect we become owners of that company, and we have more control.

  • The need for business knowledge in the medical field

Medical students are working towards professions where they will be earning more money than the average person, and actually running a business when they set up their practices. However, they aren’t given any sort of business training, leaving a need that must be addressed.

 

Infinite Banking offers us something very few other investment opportunities give us, which is peace of mind. The IBC offers uninterrupted compounding of our money and better insight into how money, economics, and cash flow work. You can also create financial stability for generations to come. The ability of this concept to grow and have tax free death benefits means it outperforms any stock.

The Power of Putting Profit First in Our Business & Having an Abundance Mindset w/Mike Gandolfo

Breakaway Wealth: Episode 5 – Often, the most effective fundamentals of building wealth work even better when we combine them. What are some of these methods and how can we put them to work for us? How do you change from a scarcity mindset to an abundance one?

On this episode, real estate entrepreneur and investor, Mike Gandolfo, shares his insights on building wealth and bringing value.

“Winning is the fundamentals done consistently over a long period of time. -Mike Gandolfo

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Three Things We Learned from this Episode

  • Don’t try to be everything in your business all the time

Many entrepreneurs have a poor quality of life— not because they don’t have money, but because they wear all the hats in their business. If we want to change this, we have to set good boundaries so we can be available and present for our families. We can’t be in work mode 24/7 because we won’t be able to maintain a peak state for that long.

  • Good property management will justify their value

A huge limiting belief a lot of people have when it comes to investing in real estate is thinking they’ll have to manage the property themselves, or have to incur the cost of a property manager. However, getting a really good property manager who is worth what we pay them takes a lot of that stress off us.

  • Why we should pay ourselves first

Entrepreneurs are often taught to take out their operating expenses when revenue comes in, but we can actually take out our profit and our tax first. What we have at the end are our operating expenses. This makes us more intentional and better prepared to make it last.

 

Breaking away from the system means breaking away from how the majority earns, spends and views money— and it’s worth it. It means we step away from playing a game we were never meant to win in the first place, and we get more freedom and control over our lives. Our goal is to have passive income coming in that exceeds our ideal standard of living. When we combine infinite banking and investing in real estate, revenue starts flowing back to our banking system a lot faster. This means we reach that passive income— and our goals— faster.

 

Guest Bio

Mike Gandolfo is the Broker Owner at RE Solutions LLC. He founded RE Solutions in 2011 out of his house and built it into an award-winning business. Go to https://www.resolutions.realtor/ for more information.

How Advertising Gets Money to Flow Away From Us

Breakaway Wealth: Episode 4 – There’s an unseen game that’s letting money flow away from us. What institutions are making it impossible for us to see our money, and how do they do it? How are our wealth-building efforts being affected by some of the fees we’re paying? What is velocity of money, and why is it so powerful?

On this episode, we talk about some of the key institutions designed to get money to flow away from us and discuss the effect it has on our wealth.

“We have to think like a business owner, act like a banker, and get money to flow back to us.” -Jim Oliver

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Three Things We Learned from this Episode

  • The true intentions of financial institutions

Every financial institution in the world wants control of your money, and they want as much of it is as possible. They want to keep it as long as you let them, and give you back as little as possible.

  • Three ways money flows away from us

When we get paid, our money first flows to the government through tax, then to Wall Street in the form of retirement plan contributions, then it flows away to the bank. The bank wants this flow because it allows them to use our money to make money for itself.

  • Motion is the law of God

When we just save money without actually putting it to use, we’re losing out. Everything that is alive has to have flow to survive. Stagnant water isn’t safe to drink; we need blood and air to flow in our bodies to stay alive. Money is the same— it needs to be in motion in order to grow.

 

The system is rigged by financial institutions who are out to get as much of our money as possible. We see this in fees and other costs that come with having our money managed. Whether we make more money or not, those institutions still demand it. What we need to do is start getting money to flow back to us, and then add velocity to the turnaround by getting more and more coming in. If we do this, financial independence becomes possible and practical.

Breakaway Wealth: Javier Heredia on His Physical, Mental & Financial Recovery After a Near-Death Experience

Breakaway Wealth: Episode 3 – Sometimes life can pull the rug out from under us and break us. It takes courage, determination and the right mindset to rebuild. What was the journey our guest took after being severely injured and financially broken? How did he mentally, physically and financially get back on his feet? What made him decide to become his own bank?

On this episode, Javier Heredia shares his inspiring story and the lessons he learned.

“When I came out of the coma, I remember saying ‘What am I supposed to learn from this?’ instead of being the victim.” -Javier Heredia

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Three Things We Learned from this Episode

  • Adversity can create large setbacks, but also powerful opportunities for learning and growth

Javier’s life was completely changed when he and his girlfriend were struck by a garbage truck. His girlfriend died and he sustained several life-threatening injuries. He was so severely injured, his last rites were read to him in the hospital. His accident also crippled him and his parents financially. Javier moved forward from this tragedy with an openness to learn and grow, bringing him to where he is today.

  • Have a mindset of abundance, rather than one of scarcity

One of the things that helped Javier through his physical, emotional and financial recovery was choosing not to have a victim mentality. Instead of being the victim and blaming everyone for what happened, he switched his mindset to “what am I supposed to be learning from this”. This immediately took him into an abundance mindset.

  • When it comes to banking, we shouldn’t be afraid to breakaway from the system

When you go from the conventional system of having your money managed by someone else to being your own banker, expect to be the black sheep. The important thing is having certainty in what you’re doing. As Nelson Nash said, “the majority has never been right about anything.”

Adversity can seem to completely derail our lives, but there is a way to come back from it. We can either adopt a scarcity mindset and let challenges make us feel like victims, or we can focus on growth, learning and abundance. For Javier, abundance is what started the process of healing and building wealth. He was able to become a better steward of his money, and change the financial trajectory of his family. Ultimately, if you want something more, and you have a bigger vision, all you have to do is make the switch.

 

Guest Bio

Javier Heredia is a mentor, coach, and “activational speaker” who uses his ‘Tragedy-to-Triumph’ experience to help people attain purpose-driven prosperity through motivation, inspiration, accountability & ACTION. In 2006, Javier and his girlfriend were both struck by a garbage truck while touring the streets of NYC at Christmas time. She was killed instantly & Javier was read his last rights, on life support in a coma for a month with a fractured jaw, leg, back, hip, & spine, a collapsed lung, and a traumatic brain injury.
He has overcome severe adversity and attained more prosperity than ever before, regaining his health, commercial flight certification, and financial footing by applying the same principles he uses to motivate others to ACTION. Connect with Javier at https://www.linkedin.com/in/meetjavierheredia
.

Breakaway Wealth: Nelson Nash on How to Break Away & Become Your Own Banker

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Breakaway Wealth: Episode 1 – One thing that has become clear is how much the banking system controls most people. What are the origins of this system, and what are some of the specific ways it actually works against us? Why should we opt to become our own bankers? What shift needs to take place for this to happen?

On this episode of the Breakaway Wealth Podcast, Jim Oliver (founder of CreateTailwind) talks with IBC founder, author, financial expert, and veteran Nelson Nash about what it takes for us to get real financial freedom – and why we shouldn’t trust banks.

If you’re going to be a banker, you should be your biggest customer— and don’t lend money to a fool. -Nelson Nash

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Three Things We Learned from this Episode

  • The only way to learn about money is to educate ourselves

Everything Nelson learned about money and economics wasn’t taught in college. It was learned through mentors, real world experience, and reading after college. We’re not going to get the information from the system. We have to empower ourselves by self-educating and seeking the knowledge that will help us make better decisions.

  • How much money the banks really make from us

The average American is paying 34.5% of every net dollar they earn for interest rates. On a $300,000 mortgage over 30 years, you’re going to pay about $0.48 of every dollar you pay to the bank. This should tell us just how much the bank owns us.

  • How the bank takes our financial power

The typical American has been made a slave of the bankers through low interest rates. Because everything is financed, a lot of people have stopped saving money, and this gets them into trouble. Few of them learn the facts of money and how it flows, because keeping us ignorant allows the banking system to control us.

If we want a shot at financial freedom, the first thing we need to do is shift our mindset. We must learn the truth of the banking systems and empower ourselves to create breakaway wealth. We need to read books that show what’s really going on. Some people don’t care about the interest rates they are paying, but if you consider that you’re giving almost half of your money to the bank, you’re going to start caring. Infinite banking is a participatory sport; we can’t just sit back and hope someone else will do that for us.

Guest Bio

Nelson Nash is the discoverer and developer of The Infinite Banking Concept™ and the author of Becoming Your Own Banker. Nash remains a popular teacher and lecturer on the Infinite Banking Concept™ through dividend-paying whole life insurance. A native of Georgia, Nash received a B.S. Degree in Forestry from the University of Georgia, 1952. From 1954-1963, Nash worked as a Consulting Forester in eastern North Carolina. During more than 35 years experience as a Life Insurance Agent, Nash worked with The Equitable Life Assurance Society of the U.S. and with The Guardian. Recognized for his high achievements, Nash was inducted as a Hall of Fame Member by Equitable, a Chartered Life Underwriter, and Life Member of the Million Dollar Round Table. Go to https://infinitebanking.org/ for more information.

Breakaway Wealth: Jim Oliver on Taking Control of the Flow of Our Money

Breakaway Wealth – Episode 2: Our money dies when it isn’t in motion, yet we’re constantly told to let it sit. Why are we told to park our money, when money is attracted to velocity? How does our money erode over time? Why are leverage and velocity so important to wealth building?

On this episode of the Breakaway Wealth Podcast, you’ll learn how we’re going to educate people to get empowered about their money while sharing the value of understanding how money and wealth really work.

Money is a participatory sport, you have to be involved. You can’t let someone else run with your money. -Jim Oliver

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Three Things We Learned from this Episode

  • The truth about the money messages we receive

When banks encourage us to park our money, it’s not because it serves us, but because it serves them. That also permeates into the marketing messages we receive, so we’ll rarely hear that we need to put our money in motion for it to really grow.

  • Why we shouldn’t listen to banks when it comes to how to grow our money

There’s a huge disconnect between how we handle our money versus how banks do. Most of us put our money somewhere and just hope someone is making that money grow. The truth is, banks never let money just sit. They understand that it has to be in motion.

  • 96% of fund managers don’t beat the index over time

There’s a very small percentage of mutual funds and hedge funds beating the market. The public perception is that their money will perform better being managed by people who “know better”. The reality is, people don’t actually outperform the market on average.

There are huge deals being made everyday, and people are making millions using the concepts that really work for growing wealth. The issue is, the average consumer is encouraged to do the opposite. It’s time to open the curtain on this. When we park our money, we put it in a prison and make it impossible for it to really work for us. Ultimately, we have to take more control of our money if we really want to see results.