How to Build An 8 Figure Infinite Banking Account For Building Generational Wealth | Karl Schnitzer
Millionaire Mindcast
Matt Aitchison
4.8 • 721 Ratings
🗓️ 14 November 2022
⏱️ 52 minutes
🧾️ Download transcript
Summary
In this episode of the Millionaire Mindcast, we are joined by an amazing guest, Karl Schnitzer, who talks about pretty cool stuff on being in a law enforcement department, real estate investing, sales, life insurance, and building a generational-wealth through Infinite Banking!
Karl Schnitzer is an Infinite Banking expert, RE/MAX Realtor, and life insurance agent at Producers Wealth. He was a cop on the street but fell out of love with the profession pretty quickly when he saw the reality of it. He realized that risking his life is not worth anymore. Thus, real estate became his escape but recognized it wasn’t his passion at all being an operator. He is not a real estate investor, but he found his passion in Infinite Banking and life insurance where he feels like he’s not working. Karl obviously, currently building a cash flow portfolio in life insurance policy. He believes that this is an efficient way to spend your money. Now, he’s not risking his life anymore but also achieving freedom in life.
Some Questions I Ask:
- What led you to leave behind the W2 Job and dive into the real estate world?
- What was it about in military or law enforcement that initially attracted you to space?
- What was the event that you think being in law a cop is enough and you need to figure out what’s next?
- What’s the transition look like from being a police department to a full-time real estate investor?
- What was your mindset on pause buying and focus on selling in real estate?
- What were some of the things that encouraged others to research a little bit further to determine how they want to go about investing in real estate?
- What was your first interaction with Infinite Banking Concept?
- What’s the bad and good way of life insurance and infinite banking?
- How did you start in life insurance policy and take it full circle?
- What was that starting point in insurance policy?
- Is there a model or framework if anyone wants to have a million bucks in the next decade?
- Where did infinite banking all start?
- What were some of your favorite books or resources that you learned value from?
- What is the long-term goal for yourself with Infinite Banking?
In This Episode, You Will Learn:
- A glimpse on law enforcement world
- Time freedom in IBC
- The cool things about life insurance
Quotes:
“More capital you have, the more deals you can do.”
“You never want to escape your job with something else, you want to chase your passion.”
“If you are working with a God-given purpose, it shouldn’t feel like work too.”
Resources Mentioned:
Becoming You Own Banker book by R. Neilson Nash
infinitebanking.org
Connect with Karl Schnitzer on:
Instagram
Facebook
producerswealth.com
Sponsor Links:
Policy Genius: Get a free 60-day trial in Shipstation with code: MINDCAST
Talkspace: Use code for $100 off: MINDCAST
LinkedIn Sales Solutions: Click on the link to get a Free 60-day Trial on LinkedIn Sales Navigator
GoBundance - Text: "MILLIONAIRE" to 844.447.1555
Accredited Investor List - Text "DEALS" to 844.447.1555
Free Financial Audit: Text "XRAY" to 844.447.1555
Upcoming Events: Text "Events" to 844.447.1555
Millionaire Notes: Text "Notes" to 844.447.1555
Connect with Matty A. and Text me to 844.447.1555
Show Brought To You By: www.MillionaireMindcast.com
Questions? Comments? Do you have a success story you would like to share on the show?
Send us an email to: Questions@MillionaireMindcast.com
Transcript
Click on a timestamp to play from that location
| 0:00.0 | In the infinite banking world, we're not even just planning two, three, four, five years in the future. |
| 0:04.9 | We have charts that we show people 200 years, which could be two, three generations of how to |
| 0:10.3 | keep this family bank, we call it, in the family, and how it'll get passed down to a trust. |
| 0:14.9 | And then that trust can fund more policies for kids, grandkids, whatever, and really scale it out |
| 0:19.4 | over two, three hundred. |
| 0:20.4 | There's no end to it. |
| 0:37.1 | An amazing journey that I know many entrepreneurs and real estate investors are going to be |
| 0:42.5 | inspired by. |
| 0:43.4 | And it's really led you to some pretty cool stuff in your life. |
| 0:48.4 | But before you got into real estate investing and infinite banking. You were out keeping the streets clean in |
| 0:57.5 | law enforcement. How did you get into that world? And then what led you into gone, I'm going to |
| 1:03.3 | leave this W-2 behind and really kind of dive into the real estate world? Yeah, absolutely. So my |
| 1:09.0 | background before, you know, all of this was in law enforcement. I was a |
| 1:12.8 | Philly cop. You know, my whole life was, I knew I was either going military or law enforcement. |
| 1:19.9 | Military didn't work out. I got into the police academy after college, went through all of that. |
| 1:24.6 | I started working as a cop on the street. I fell out of love with it real |
| 1:30.0 | quick. You know, and I think many cops, if anyone's listening, kind of feel that way too. It's, |
| 1:34.3 | it's like one of those professions that, you know, you want to do so badly, but once you actually |
| 1:40.0 | get into it and you see the politics, you start going to court, you see, you know, all the, |
| 1:45.0 | I don't want to really necessarily call it corruption, but you see the internals of how it all |
| 1:52.0 | works. And I really fell out of love with it. You know, I had great supervisors, great cops |
| 1:57.6 | that I worked with, but I really, I really fell out of love with the profession |
... |
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