205. Money Matters: Understanding the Nature and Flow of Money for Financial Success with Russ Morgan
Release Date: 05/09/2023
The Wake Up Call
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info_outlineThe Wake Up Call
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info_outlineMoney plays a crucial role in our lives, yet many of us lack a deep understanding of how it truly works. We often view it as a simple tool for earning and spending, without recognizing its complexities and potential for long-term wealth creation. This is where the importance of reeducation comes in, particularly for business owners and families who seek to maximize their financial potential.
In this episode, Russ Morgan, founder and partner of Wealth Without Wall Street, provides insights into understanding how money truly works and common misconceptions associated with it. He sheds light on the nature of money, its creation, and its flow through the economy. Russ explains that becoming a better investor involves enhancing one's ability to identify and evaluate investment opportunities, manage risks, and generate returns. He also highlights that infinite banking is a financial strategy that involves using a whole life insurance policy to create a source of tax-free income and generate long-term wealth.
Furthermore, Russ Morgan shares his personal experience and journey, leading up to his involvement in a wealth-building group. He also discusses various ways to earn money, emphasizing the importance of diversifying income streams for financial security.
If you're a business owner or individual seeking to improve your financial literacy and gain insights into wealth-building strategies, tune in to this episode with Russ Morgan.
Key Points From This Episode:
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Understanding how money truly works, and common misconceptions
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Defining what it means to become a better investor
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Exploring different ways to earn money
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His personal experience and journey leading to current involvement in a group or discussion.
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What is infinite banking?
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Using life insurance policy with cash value for tax advantages and accessing cash through loans/withdrawals.
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Cash flow strategy
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Using financial strategy for monthly business growth
About Russ Morgan
Wealth Without Wall Street’s Founder and Partner, Russ Morgan, is known as “The Idea Guy.” Russ began his professional career as an investment advisor in 2004 after graduating from Auburn University — a slight foray from 10-year-old Russ’ dream of becoming a professional baseball pitcher. Russ started IBC in 2009, and eventually went on to found Wealth Without Wall Street in 2015. Russ' mother was an enormous inspiration for him growing up. As a single mother with two young children, she took a rigorous, accelerated track through college while working multiple jobs, all with the goal of bettering her children’s lives. When he’s not working, you can wave to Russ on a boat at the lake pulling his kids around on a tube. And on Sunday mornings, he’s probably rushing to church with his family … only 10 minutes late.
Russ’ creativity, fresh ideas, and knack for problem solving are indispensable assets to his role at Wealth Without Wall Street. Russ would describe himself as competitive, creative, and passionate; his colleagues would likely add that he is helpful and abundant. Russ hopes to be remembered as an innovator who loved to teach others, and he has a goal to one day serve in the mission field. Finishing the book is another more near-term goal. Aside from Wealth Without Wall Street, Russ learns from the Business School podcast with Sharran Srivatsaa and Donald Miller’s Building A StoryBrand book and podcast. Aspire Movement, Campus Outreach, and Young Business Leaders are three causes near to Russ’ heart. Russ in one motto? “Just try!”
Follow Russ Morgan
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Website | wealthwithoutwallstreet.com
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Linked In | www.linkedin.com/company/wealth-without-wall-street
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Facebook | www.facebook.com/wealthwithoutwallstreet
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Twitter | @withoutwallst
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Instagram | @wealthwithoutwallst
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Youtube | www.youtube.com/channel
Join the Community
I'd love to hear your comments and questions about this episode. Here are some great ways to stay in touch or get involved in the My Freedom Foundry Community!
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FREE Facebook Group - My Freedom Foundry - Free Yourself With Real Estate Investing | www.facebook.com/groups/myfreedomfoundry
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Freebies and Resources To Help You Excel Your Business | www.pauldavidthompson.com/work-with-me
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Grab your copy of my best-selling book: ESCAPE: Money Mindset to Freedom with Stocks, Real Estate, and Starting Your Own Business, HERE.
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