Term Life vs. Whole Life and Renting vs. Owning A Home with Jake & Gino

Jake and Gino Multifamily Investing Entrepreneurs

Jake & Gino

Buyingapartmentbuildings, Investingsmart, Multifamilyrealestateinvesting, Business, Smartinvesting, Jakeandgino, Apartmentinvesting, Investing, Commercialrealestateinvesting, Makingmoney, Buyingrealestate, Realestateinvestment, Wheelbarrowprofits, Realestateinvesting, Cashflow

5 • 831 Ratings

🗓️ 20 October 2021

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode, Jake and Gino talk about the pros and cons of renting assets versus owning assets, and how this analogy compares to Term Life Insurance versus Whole Life Insurance. Below is one of the top misconceptions about Term Life vs. Whole Life. MYTH: It’s better to buy term life insurance and invest the difference. BUSTED: Real Estate Investors know better than anyone that it is better to OWN than to RENT. Why rent your insurance when you can own it and benefit from the equity built inside your policy? You may have heard people suggest “buying term and investing the difference”, but investing in the market involves risk. As a Real Estate Investor, you’re already taking a lot of risk. Does it really make sense to take risk with your safe money as well? With the specially-design of our Whole Life Insurance policies, you know the minimum, guaranteed value of your policy at any given year, as well as the minimum cash value you could borrow. There is no guessing game! Something that is simply not a luxury with “investing the difference”. Key Insights: 00:00 Owning property versus Renting property 01:25 Developing a 100 Year Investor Mindset 02:20 The Honey Bee: Creating Multiple Streams of Revenue 04:56 How to optimize your personal finances 07:09 Benefits of long-term personal financial engineering 09:08 Creating a legacy and generational wealth for your family 11:44 Your mindset matters and directly relates to your financial success Email [email protected] to get the PDF copy of The Honey Bee. Download our eBook on how you can leverage our Dual Asset Strategy to secure your financial future: https://100yearrei.com/ebook-download/ Let our Team run the numbers for you and see how we can help protect your financial future for generations to come. Schedule your consultation now: https://100yearrei.com/callnow/

Transcript

Click on a timestamp to play from that location

0:00.0	Hello, everybody and welcome to 100-year real estate investor. We're your host, Jake and
0:09.5	Gino, and this is the show dedicated to long-term personal financial engineering.
0:14.4	Gina, how's going? Jake, I'm doing great, bro. How are you doing? Always making it happen,
0:19.1	big man. Today, I want to discuss a sensitive topic,
0:22.0	Mr. Gdad. You want to know what that is? I'm a sensitive guy, so let's go. So here's the deal.
0:30.5	Owning versus renting on multiple levels. Okay. It comes up all the time. It's a little, you know,
0:36.9	personal, you know, financial thing that people
0:38.9	just love to talk about. I'll start with myself, all right? I like to own things personally.
0:43.5	I like to own, I like to own precious metals. I own my house. I own some land. I own a ton of
0:49.1	real estate besides that, multifamily apartments. And we own this stuff, right? I don't rent.
0:54.9	I even own my cars.
0:56.0	I know a lot of people like, oh, dude, do the lease and this,
0:58.1	and the other thing.
0:58.5	Look, it just works for me.
0:59.9	I like buying this stuff.
1:01.2	I like having no personal debt.
1:02.7	And I like having long-term fixed rate debt on my multifamily assets.
1:06.7	That's just me.
1:07.6	I know everyone's got a different opinion on it. But there's some interesting stats to kind of show the difference in net worth for folks that actually own stuff for
1:18.6	folks that do not. So there's a survey from the Federal Reserve. And this really shows how
1:24.2	important the 100 year mindset is, the ability to look long-term, okay? Homeowners, okay,
1:30.7	have 44 times more net worth than renters. That's a, that's staggering, okay? Median worth of the
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Jake & Gino, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Jake & Gino and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.