What Are The Wealthy Doing That You Are Not | The Greatest Advice You Will Ever Receive

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

🗓️ 8 December 2021

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this episode, Jake and Gino reveal how the top 1% wealthy people in the world create and manage their wealth. Key Insights ✔ Learn how to mitigate your risks. Some of the risks, such as economic and political risks, would be out of your control while some would still be very much under your control. These could be related to the investment or business operations. ✔ Learn how the wealthy manage their assets. Overcome your limiting beliefs and strive to adopt the mindset that can help you get into that '1%' wealth zone. In short, don't think and act like the 99% of the people in the world. ✔ Think long-term. Any investment channel, such as real estate, with sound fundamentals take time to grow and that is why it is stable, consistent and enriching. Stay away from get rich quick schemes. ✔ If your portfolio is dominated by volatile assets, such as stocks or crypto, you can't expect stable, predictable growth. ✔ Check out how Dual Asset Strategy can help you build generational wealth while providing consistent cashflow and the satisfaction and security of owning tangible assets. Download our eBook on how you can leverage on our Dual Asset Strategy and become your own source of financing: https://100yearrei.com/ebook-download/ If you want to learn more on why should add a cash value Whole Life Insurance Policy to your financial plan (and even the plan for your children), get in touch with our Team here: https://100yearrei.com/callnow/

Transcript

Click on a timestamp to play from that location

0:00.0	All righty and welcome to the 100-year real estate investor. We're your host, Jake and
0:10.0	Gino, and this is the show dedicated to long-term personal financial engineering. Gino, how's it
0:15.2	going? Jake, I'm doing great today. How are you doing, bro? We're talking about money today,
0:18.5	so I'm fired up. We're talking about them big dollars, the big bucks. And hey, listen, whole life, dual asset strategy may not be for everybody. And that's
0:26.1	okay. But what are rich people doing? What are the biggest banks in America doing? Gino, share some
0:31.5	balance sheet info with your brother here. That's a nice intro, Mr. Stenziana. I've got to say. And for the Jake and Gino community,
0:38.6	most of them get it. They're real estate investors. They've got one dollar. They want to maximize it.
0:43.4	They want to invest in assets. This is what we're talking about. This is what the 100 year show is
0:46.8	all about and the Jake and Gino show is all about, is about utilizing assets and creating
0:51.1	that strategy. Now, Jake, you ask me what banks are doing. It's called bank
0:54.3	own life insurance. And Coley is corporate own life insurance. These institutions know that they need
1:00.1	to have safe capital. It's called tier one capital, any life insurance that's owned by the bank.
1:05.5	It's the safest capital. And it's, you know, the FDIC classifies it as just tier one. And when I look at it, I would like to say, Jake, by a show of hands, how many of us out there think the market's at a high check your risk profile. And that's what banks do.
1:28.6	I'm going to give you an example. Bank of America back in 2015, that's the last balance sheet that I
1:33.1	saw. They had over $15 billion in cash value life insurance. They had $3 billion in stock,
1:41.6	about $8 or $9 billion in real estate. So what does that tell you? They put their
1:45.0	money where there's less risk. Why do they do that? Because they've got a lot of money out there
1:49.4	already. We can get into fractional banking already. They're already making money by lending out
1:53.3	loans and taking an enormous amount of risk. That's what we do as real estate investors.
1:57.1	We take risk on a lot of these assets. Not every single dollar that we have has to be deployed
2:02.3	in risk. We can have assets and money in less risky areas. And that's how I utilize whole life.
2:08.1	I'm using it as a savings vehicle. I'm using as an estate planning. And I'll let Jake get into this
	...

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.