Digital Social Hour - This Financial Strategy Will Change Your Life Forever I Devin Burr DSH #468
Episode Date: May 23, 2024🔥 Ready to revolutionize your financial future? In this episode of Digital Social Hour, Sean Kelly is joined by Devin Burr to unveil a groundbreaking strategy that will change your life forever! De...vin discusses the power of Infinite Banking—a method that allows you to save and spend simultaneously, protect your assets, and grow your wealth tax-free. 🚀 From retiring his own dad to leveraging life insurance policies for maximum gains, Devin breaks down how anyone can build and protect their wealth like the elite. Learn the secrets of compound interest, asset protection, and how to avoid the common financial traps that erode your wealth. 🏦💰 This isn't just any financial advice; it's a game-changer. Plus, hear about Devin's incredible journey from the grind of a 9-to-5 job to achieving a net worth of over $6 million in just a few years. 😲 Don't miss out on these life-altering insights! 👉 APPLY TO BE ON THE PODCAST: https://forms.gle/D2cLkWfJx46pDK1MA Join us as we dive into topics like reverse mortgages, tax-saving strategies, and why traditional retirement plans might be holding you back. Tune in and transform your financial approach today! #Podcast #SeanKelly #DigitalSocialHour #InfiniteBanking #WealthBuilding #FinancialFreedom #ApplePodcasts #Spotify #Instagram #BusinessInquiries #Sponsors #SaveInvest #FinancialControl #BuildingWealth #MoneyManagement #DigitalSocialHour CHAPTERS: 0:00 - Intro 0:45 - What is Infinite Banking 4:28 - Where do you put your assets 6:46 - How do you avoid taxes 8:31 - How do you use the money 15:07 - Why You Shouldn’t Contribute to a 401k 18:00 - What Triggered Your Mindset Shift 19:50 - When You Quit Your Job to Pursue Real Estate 21:09 - How to save 40% of your income 21:51 - How to make 400% returns 25:20 - How to buy real estate with life insurance 29:58 - Where to Find Nate 30:00 - Learn More About Nate’s Strategies BUSINESS INQUIRIES/SPONSORS: Jenna@DigitalSocialHour.com SPONSORS: Deposyt Payment Processing: https://www.deposyt.com/seankelly LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit podcastchoices.com/adchoices
Transcript
Discussion (0)
My dad, he wanted to retire this year.
I actually retired my dad,
which was like the coolest feeling ever.
His big thing was like,
I want to leave this house to you kids.
Pay your home off really slow.
Don't pay it off fast.
You can't use it unless you get a refinance
or an equity line.
He wanted to like pay this house off
so when they pass away,
they can give something to us kids.
We don't want the house.
We're just going to sell it to get the equity.
So I told him, I'm like,
dad, do a reverse mortgage.
Your balance will slowly go up up but you've got no payment
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all right we're talking infinite banking today.
About to save you guys a ton of money.
Devin Byrne in the building, my man.
Thank you.
Thank you for having me.
Absolutely.
Love being out in Vegas.
I try to stay away from the casinos.
I don't like losing money, and I lose it every time I gamble.
You're all about saving money, which is infinite banking.
Saving money, but also spending at the exact same time.
It's such a crazy thing. Most people think you either do one or the other. You save your money
or you spend it. You save your money or you invest it. You spend it or you invest it. You
can't do both. Infinite banking allows you to do both. You save your money, but then you can also
spend it. You can also invest it. So you figure if you're saving money and it's growing
and you're investing it and it's growing, you're growing your money in two places at the same time.
So a typical person just has a checking account, maybe a savings account. Walk me through the
difference with infinite banking. It's kind of the same thing. I mean, think about a checking
account or a savings account. You deposit money into the account and then you can go use the money right away. Right.
The difference is with a checking or savings,
you get 0.06% growth.
Yeah.
That's the average.
There's no protection against lawsuits or judgments.
So if you get sued,
someone can just take that money.
But that's what we've been taught to do is we've been taught to put our money in the bank because we can go use it right away.
Yeah.
But with infinite banking, it's the same thing.
You put your money into a place where you can go get it right away.
You can use it right away.
It's liquid.
It's protected against lawsuits and judgments.
So if you've got millions of dollars here and someone tries to sue you,
they can't touch it.
Wow.
It's a private contract between you and the account.
So it can't be touched. So it's safer than a checking your savings account. Instead of it growing at 0.06%, it grows on average around five
to 6% tax free. So you figure without taxes, you're actually making around eight to 9%. If
you were getting taxed, once that tax is gone, you're at around five to six percent if you were getting taxed once that tax is gone you're
at around five to six right so five to six without taxes is kind of like making eight to nine right
yeah and you can go use that money and still not interrupt the compound growth so we're both young
guys like compound interest is something that just takes a long time to really see the fruits of.
Warren Buffett's a prime example of it.
He's been investing for so long.
He's so wealthy because of time.
So if you give money time to grow and compound,
it becomes a big amount of money.
So with infinite banking, you can allow money to do that.
Compound and grow at that 5% to 6% tax-free while it's protected while it's sitting
there and you can go use it somewhere else at the same time. So you're making that growth and you're
doing other things with it at the same time. That is so fascinating. The protection interests me a
lot because as a business owner, you know, we have tons of liabilities. People come after us for
having a following or saying the wrong thing. So that cool that that can't that money can't be touched did i learn that the the higher up you get on the
flagpole the bigger of a target you are right so yeah when you start getting assets when you start
getting a following when you start getting these different things people want to naturally come
after you but if you have things in place where you're protected like infinite banking where your
money's protected against lawsuits and judgments and then putting more things in place where you're protected, like infinite banking, where your money's protected against lawsuits and judgments, and then putting more things in place like
trusts, like we've got trust for everything.
So I don't really own anything.
I just control it.
Right.
And when it comes to wealth, the more control you have, the less risk you have.
So that's the main thing with infinite banking is having total control of your money
without ever interrupting its compound growth yeah so that being said where do you put your
watches your cars your houses is that in a trust yep so i have a business trust and a family trust
so with my family trust like my mortgage my house my primary home is owned by that family trust
um second home vacation home that kind of thing
i don't put my cars because then there it opens up liability the trust because cars move around
you can get wrecks right right so my cars i don't put in the trust but yeah like watches and things
like that those are owned by the trust and then i have investments owned by my business trust
so i'm protected against lawsuits and judgments and things like that,
but I'm also protected against taxes. Cause let's say I've got an investment property,
just easy math, just arbitrary numbers. If it's worth a million bucks sitting in the trust and
I sell it for 2 million, there's a million dollars of capital gains usually, right?
Yeah. Within a properly structured trust, you can negate those taxes legally wow it just has to
flow a certain way it's got to be all by the tax code but the tax code is written on how to pay
less taxes there's only a small portion of it on how to pay taxes but most people just think the
tax code is about paying taxes it's literally about how to not pay as much yeah there's so
many incentives that people don't know about yeah and it And it's just, I forget who it was. I think it was, um, Bill Gates said, or maybe it was Donald Trump. One
of the two said that the reason why he doesn't pay as much chat as much taxes as other people
is because he just knows the tax code better than everybody else. That's it. Yeah. If you study the
tax code, you can figure out how to pay less taxes and the biggest eroder of wealth are taxes 40 50 some states california and think about this
you're taxed on money that you make so before you get it they take it then you're taxed to spend the
money so you've got sales tax right and then you're taxed on things that you buy with the
money that was taxed. Property tax. Right.
It's insane. I just paid a tax on my car, just $1,200 a year apparently for registration,
just to be able to drive it in Nevada.
That's crazy.
Taxes are like the biggest scam ever.
But it's just...
And you don't even know where the money's going to.
They say where it is, but you don't actually see it or control where it goes to you know what i mean right that's why i like infinite banking so
much because you control where your money goes what it goes towards how you use it and you just
negate taxes so you pay taxes once like when you make money you have to pay taxes on that money
there's ways to pay less of it of course but you have to pay taxes at some rate. Then the money goes into infinite banking and you never pay taxes again. It grows 100%
tax-free. You can use it 100% tax-free. And then the beauty of it is it's tied to a death benefit.
So we're all guaranteed to die. We just don't know when. I believe I'm going to live to like 150.
I'm a firm believer of that, but it's going to happen at some point. When I die, my family gets a tax-free death benefit
that goes into a trust that then buys more life insurance policies that grow tax-free
that they can use tax-free. And then when they die, it's paid tax-free. Wow. So my family is
just going to get wealthier and wealthier and wealthier because of what I set forth at the ground level in my thirties. And that's what the elite families
use, like the Rothschilds. Cause otherwise you're paying death tax, which is pretty high these days.
Yeah. State tax. Yeah. Which is crazy that they even do that. I think it's above $21 million.
Oh really? So like there's no income tax okay on a death benefit so let's say
your death benefits like 30 mil there's no income tax on that but above 21 mil i could be wrong on
the exact number but i believe it's 21 mil so the 9 million would get taxed on a state tax
but it's like at the same time if your family gets all that money a little less because of taxes
they're probably still going to be okay but if you can not have to pay it and leave them more it's better might as
well yeah so when you say you're able to use the money are you taking a loan or line of credit out
and leaving the money in the bank great question so as i said uh it's tied to a death benefit right
the insurance companies know we're gonna die
they just don't know when right so because they know that you're gonna die at some point they'll
let you borrow from your future death benefit and you never have to pay it back that's that control
piece because if you never pay it back and you pass away which is gonna happen they just don't
know when they'll just deduct what you didn't pay back.
So let's say your death benefit's $10 million.
You use $1 million.
You're borrowing against your $10 million.
You never pay it back.
When you pass away, they'll just pay your family $9 million
instead of the full $10.
Interesting.
Because you used $1 million of it while you're alive.
And there's no fee?
No fee.
I mean, there's interest they charge you.
Okay.
So you're borrowing from the death benefit.
You're paying them interest to do so because you're not using your money.
You're using your future death benefit, their money.
See what I'm saying?
Yeah.
What you do is you put your money into the account, the policy.
That's what you're using to control all the money.
You put the money there.
That money is collateral to get that loan see what i'm saying yeah kind of like if you bought a house like the
house is the collateral to get a loan from the bank your money's collateral to get a loan from
your death benefit make sense and then because you're not using your money that's how it continues
to compound and grow because you're not using it you're barring against it see i'm saying right right wow this is cool setup man so you're able
to sleep at night knowing i'm good yeah dude right now i think it's like 40 million bucks is what my
death benefits all come out to wow so if i were to pass away tomorrow my family's hooked up 40 mil
yeah they're good yeah and i've got everything in trust and
everything's set up to where like my daughter is 16 i just had a newborn she's two months
so if i were to pass away tomorrow and my wife was to pass away as well and my daughter got 16
or 40 million dollars it's a bad look for a 16 year old you know yeah so the trust dictates that she only gets a certain
amount at a certain age smart you know what i mean yeah and that way it's just you you hit it
like the elite families the rothschilds the rockefellers they get wealthier over time because
they know these different things trusts and life insurance so their wealth perpetuates while most
people it erodes by the second generation right so like if i left 40 million dollars to my my kids
with none of these trusts none of these things in place they'd probably be broke within that
generation probably because they'd go buy lambos they'd go buy some stupid crap yeah just dumb
stuff right because they don't know how to control the money they don't know how to multiply it they Because they'd go buy Lambos. They'd go buy some stupid crap. Yeah. Just dumb stuff, right?
Because they don't know how to control the money.
They don't know how to multiply it.
They don't know how to protect it.
Yeah.
But what I've set forward, now it's like the trust dictates how it's going to be spent.
So now my family can't go broke because they have to abide by the trust.
You know what I mean?
I love that.
And a lot of parents, I feel like they die with that uncertainty
of leaving nothing or little for their children yep but with this structure you know you did
everything you could yep yeah like my dad he wanted to retire this year i actually retired
my dad which was like the coolest feeling ever that's awesome being able to retire him
and his big thing was like i want to leave this house to you kids. So he's on a 15-year mortgage.
It's like the dumbest thing you can do, in my opinion.
Pay your home off really slow.
Don't pay it off fast because then you're trapping money in the equity.
You can't use it unless you get a refinance or an equity loan.
So you like the 30-year mortgage better?
Yeah, pay it off really slow.
Put as little down as possible.
But he wanted to pay this house off so when they pass away,
they can give something
to us kids we don't want the house we're just going to sell it to get the equity right you
know what i mean so i told him i'm like dad do a do a reverse mortgage your balance will slowly go
up but you've got no payment enjoy your like life while you're alive and since the balance slowly goes up so does the value you see i'm saying yeah so like when you
pass away there's still going to be equity for us kids but you can enjoy your life while you're
alive right you know what i'm saying so um it's just cool to learn these things and then i wish
my parents taught me it but i'm teaching them which is just cool and then i can retire my
parents is a good feeling
that must be a great feeling man yeah my my parents were immigrants but they just worked
and saved their whole lives where from uh my dad was from ireland mom was from china okay yeah mom
used to scrub floors in the kitchen didn't speak english came here with 20 bucks dude really yeah
isn't that crazy wow when uh she was just out of college wow yeah she became high up uh sales for a company called
erickson i don't know if you heard of them and this was out in vegas she moved to somewhere in
the west at first then we uh i grew up in jersey got it yeah okay but it was it was interesting
man but being able to grow up in immigrant household i attribute a lot of my success to that to be honest um that's what you
hear is like the immigrant mindset we're like just the american dream is is something that's still
real right it really is and you know how like the american dream started right no actually so
back in the day like the american dream was to come here and be an entrepreneur run your own
business you know make it and that changed when the rockefellers and all these big families
needed more employees so they indoctrinated the modern schooling system right so you'd have
people going into schools to become employees so they were pumping out
more employees to build their their companies you know the oil industry and i forget the other uh
the other big name back then but that was the american dream everyone was going to be
entrepreneurs now the american dream is get a good job go to school get good grades saving a 401k dumbest thing
you can do and hopefully have enough money to retire when you're 60 years old yeah that's the
american dream now it's changed and i i hope it reverts back to the old one you mentioned
probably never will because i think there's people pulling strings at the top yeah but that's a whole
another conversation 100 um i'm glad you talked about the retirement account my account used to
tell me to contribute to the ira and whatever and i'm like i don't even know if i'm gonna live to 65
just being honest and also by the time i get there me spending money at that age won't feel the same
as it does now you know what i mean yeah it'd be more about giving it to my
family at that age i feel like than spending it on myself well if you really stop and think about
like a retirement account at its core it's really really stupid most people just it's what we're
taught so we do it but really think about what it is you think about like a 401k you're giving up
control of the money now to have access to it later right when is money worth the
most now now inflation erodes its buying power so like let's say i'm 38 almost 39 so if i put in a
401k i'm giving up control for 20 years that the dollar is going to be worth so much less in 20
years so i'm giving up control of being able to use it now when it's worth the most
to use it later
when it's worth less.
Stupid.
I'm told to do it
because I can take a tax deduction.
So don't pay taxes now
when you know what they are
to pay them later
when you have no idea.
Right.
Do taxes go up or down?
Up.
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So it's like, don't pay them now.
Pay them later when they'll probably be higher.
Don't use the money now when it's worth the most.
Use it later when it's worth less. It's the dumbest thing ever yeah it's so dumb but like it's what we're taught and
once you like try to change someone's like mindset it's the hardest thing you can do
because they've been taught one thing there's a quote by will rogers it's um the biggest problem
in america is not what people don't know it's what
they think they know it just ain't so wow that's deep yeah because people are so programmed at this
point years of programming it's ridiculous public education system the news god knows what else but
uh yeah it's pretty bad yeah so to break that is tough i'm lucky lucky and blessed that i broke like the
the shackles of the modern like financial system and all that when i was 34 so kind of late in the
game but i'm almost 39 so in less than four or five years i went from having a net worth of about
200 grand making like 117 a year to now up over six mil net worth and making about two
million incredible so it's like you can do a lot once you know what to do but then the most
important thing is to just do it right you know what i mean like if you know what to do but you
don't do it it's not worth anything yeah you know absolutely so walk me through that process at 34 what triggered this mindset shift
for you oh man i uh i was at work and i was making like i said about 117 i think it was my last year
there that was 2019 and working my tail off i'm just working and working and working i got no
time to enjoy anything what was the job it wasages. Okay. So I was doing refinances for rocket mortgage,
great company. I don't have anything against them, but just the fact that they controlled everything.
So again, the more control you have, the less risk you have. So I had no control because they
could just change a comp plan the next day, which they did the time right and i'm like well crap now i'm gonna make less and if i make more than i get taxed more because of bracket
creep i just started getting to a point where i'm like i feel like such a prisoner on a long leash
because i could work from home that was like the freedom they gave me but i just felt trapped and
then i started seeing people like, I always liked those shows like
flip or flop people doing flips on houses. And I had some fam or some friends in real estate.
We talked about it a few like pace Morby, um, Jamil Damji people out in Arizona. Yeah. And I'm
like, I think I could do that. So I just did a ride along one time and I fell in love with it. So this was October of 2019.
I locked up my first real estate contract and I walked into Rocket Mortgage the next day and I
quit. You ever seen that episode of the Chappelle show when he knocks up Oprah Winfrey? No, I didn't
see it actually. Oh, it's great. He like knocks up Oprah and he walks into his job the next day.
He's like, I quit.
What's gotten into you, Dave?
It's not what's gotten into me.
It's what's gotten into Oprah.
It's great, bro.
I got to check that out. That was me in 2019.
You walked in there and quit.
I just walked in.
I was like, I'm quitting.
I thought I was going to make like 200 racks on this one real estate deal.
Damn.
So I'm like, I'm quitting.
Why would I stay when I'm going to double my income almost on almost on one deal yeah let me spend all my time getting these deals i didn't make 200 grand
nothing close i learned so much though dude i was getting kicked in the teeth left and right
and by march of 2020 when it hit i had done eight real estate deals zero marketing wow
so i was keeping all the money is this wholesale wholesale? Wholesale flips. And then my last name is Burr, B-U-R-R. Yeah. And there's a
method of real estate, the Burr method. So it's buy, renovate, rent, refinance, repeat. It's a
way to keep properties and build wealth and cashflow and all that. I'm like, my name is Mr.
Burr. How about I become Mr. Burr? So then I started making, I made the chain, I made like, my name is Mr. Burr. How about I become Mr. Burr?
So then I started making, I made the chain,
I made hats, I made shirts.
I started like branding myself as Mr. Burr
and then started doing those,
holding onto properties, building wealth.
The market appreciated like crazy in Phoenix.
So I had a bunch of net worth tied up in the equity.
I sold off the properties.
Now I had all this capital.
I could start like really playing with money,
deploying it in different things,
private lending,
infinite banking,
and just started multiplying money.
And the cool thing is you're,
you're saving a lot because a lot of people make money,
but 40% goes to IRS.
But you figured out a way to save 40% basically.
I'm saving everything yeah because
think about it when you use infinite banking at its core it's a forced savings vehicle that's
what it is because think about like an investment you can lose money or make money right with
infinite banking it's a life insurance policy life insurance is guaranteed to grow. So there's no risk. It's
literally a savings vehicle that's guaranteed to grow. So it's always going to grow and you're
going to save the money. It's going to become more. So I put all of my money towards it. I've
got 13 policies. So all my money goes there. And then since it's going there, I'm saving all of it.
It's all growing guaranteed. And then I just use it to go do my investments. So then since it's going there, I'm saving all of it. It's all growing guaranteed.
And then I just use it to go do my investments. So like, let's say I save into a policy,
easy math, a hundred thousand dollars. Let's say it grows at 5%. That made me $5,000 tax-free,
right? If I can take that same hundred thousand and lend it to you, let's say, at 15%. That's what I lend at.
That made me $15,000, right?
So I made five over here, 15 over here.
That's $20,000, right?
All it took me to do it was 5% control cost.
Because remember, you're borrowing from the death benefit.
So if they charge me 5%, which is what it is, I turned 5% or 5,000 into 20,000.
That's a 400% cash on cash return. Incredible in a year. And that's, and that's if you just do one
deal. So what I'm doing is when that money comes back that I'm lending out the interest, I take it
and reinvest it. So now I'm just multiplying the money. It just keeps cycling through the system. And that's how I've been able to build so much in the last few years.
And money is a compounding thing. Knowledge is a compounding thing. The more you learn,
the more it compounds on itself. So as I start learning more and utilizing it,
the wealth just keeps growing. Incredible. And you can lend at 10, 15% these days to hard
money lenders. All day long. Yeah. Especially guys in real estate because they know they'll
make a quick flip and make that back. Yep. So I'm lending at 15 first lien position with a
personal guarantee. So there's like no risk. Wow. Yeah. If you have the lien, then you own
the property, right? If they don't pay you. Yeah. So you really can't lose because worst
case scenario, you get a house. Yeah. And and that's really that's worst case for them
it's best case for me you know what i mean yeah because the house is probably worth more because
yeah like let's say they do all the work they fix it up but then they they stop making the
payments to me now i've got a almost fully renovated house for let's say i put a hundred
grand down that's what i let them use so yeah dude lending is like the
best thing ever if you can do it correctly in my opinion it's the only way to get true passive
income lending yeah because people say passive income but it's like you're not actually passive
you know real estate's far from passive far that i've owned i've owned airbnbs that's what i did
a lot of in real estate and oh my god a lot of headaches
oh bro complaints like i would get i would get a tenants they were like where's the thermostat
that's so annoying it's like the question i'm just like it's this circular thing on the wall
eye level and like they couldn't find it it was like it's the craziest thing dude so
you got to clean the house yeah god knows people having parties sometimes yeah so my cleaners have
found some gnarly stuff yeah like throw up in like the washing machine just people are savages
yeah no they are man but i'm glad you're at the point now where you're just making money with ease yeah i don't own much more real estate anymore on the airbnb side i own one um i think with
rates dropping this next year property values are going to increase so i'm probably going to
unload that property this year but now i'm transitioning over to uh multi-units yeah
so we just bought a 22 unit out of Birmingham, Alabama.
Did you do subject to on it?
No, no. So I just used the BRRRR method
and I just used my policies
to do it.
So I put the down payment. It was 200 grand
from a life insurance policy.
So that 200 grand is still compounding in the policy.
It's still there making money.
So you're making money two ways.
Twice. Technically three times. And that's what banks do. Banks do it all the time. If you're making money two ways. Twice. Technically three times.
And that's what banks do.
Banks do it all the time.
Yeah.
If you think about a bank,
when you deposit money in the bank,
it doesn't sit there.
They lend it out.
Yeah.
But first they put it into life insurance policies.
Banks own,
it's called BOLI,
bank owned life insurance.
They own more whole life insurance
than all their buildings and land combined.
Wow.
Billions and billions and billions of dollars.
Why would they do that?
Is it because they're stupid?
They know something we don't, right?
Rich, yeah.
So they're putting the money there so that it compounds and grows guaranteed.
Then they borrow against it and lend it out to you on a car, you on a house, on a boat,
student loan, whatever it is,
you pay that loan back with interest while they're making money in the policy at the same time.
Wow.
So they can't lose even if you don't pay back the loan.
No.
That is crazy.
And the way they're getting the policy is nuts.
They're just insuring their employees.
So next time you go into a bank, look around and see how many vice presidents there are is there a lot everyone's a vice president of the bank they
they promote these people to vice president and give them like a fully paid up life insurance
policy yeah say here you don't got to pay a penny into this life insurance policy if you pass away
when working here your family gets 50 grand 100 grand whatever it is how much is that policy actually for a million two million three million so if you pass
away they do pay your family 50 grand whatever it is but they keep the rest wow so they're making
money off you dying yeah basically so if i mean they could probably be real shady and start like
plugging some people off but the life insurance company's smart they'd look into it and make sure
that it was you know i mean yeah wow that is insane so basically you're saying owning a bank
is just a money printer yeah for the most part but that that's what i love about infinite banking is
like you are you're doing the same thing as a bank does.
You, in an essence, own a bank.
You own a banking system.
You treat money the same way banks do.
Think about what a bank does.
When you put your money on deposit, they have to pay you to keep it there, right?
They pay you a little bit of interest.
But then they take it and lend it out and make more, right?
They're keeping the difference. So let's say they pay you a little bit of interest but then they take it and lend it out and make more right they're keeping the difference so let's say they pay you one percent i know they don't but let's just say
they do yeah they pay you one percent and then they lend it out for let's say five they're keeping
four percent right it's the same thing with infinite banking you're borrowing from a policy
so you're paying them but as long as you can take it and go make more than what you're borrowing it for,
you're doing exactly what the bank does.
You're keeping the spread.
But you're doing it in a place that's guaranteed to grow.
It'll never stop growing.
And if that's the case, that means every single year,
you can always borrow more.
It's like if your house was guaranteed to go up in value,
you could always borrow more. Wow. It's like if your house was guaranteed to go up in value, you could always borrow more from your equity line.
But houses go up and down, right?
Yeah.
Life insurance does one thing, one thing only.
It just goes up.
That's brilliant, man.
Because I've taken out personal loans, car loans,
you know, 10%, 20% interest.
But with this method, you don't have to pay interest.
Yeah, you should, but you don't have to.
Because if you don't when you pass
away they'll just deduct it off your death benefit got it got it but you should because
when you when you get one of these policies it's a mutually owned company that means that
my 13 policies i own i'm a part owner of those businesses of those companies so when they're profitable they share those
profits with me in a dividend see what i'm saying so it makes sense for me to pay my interest to
them because that's helping them be profitable and plus i can write it off as a tax deduction
so like let's say i owe 10 grand in interest for using the money throughout the year
i just write a ten thousand dollar check from my business bank account and I can write that off as a tax deduction
because it's a business expense.
Wow.
See what I'm saying?
Yeah.
And then it helps the company be more profitable.
When they're more profitable, I get a bigger dividend,
which I can then use tax-free.
Brilliant.
See what I'm saying?
Love this stuff, man.
Where can people watching this learn how to set this up
and where can people find out more about you?
So you guys can check me out on social media.
The biggest one is my Instagram.
It's Mr.
So M-R underscore Burr.
B with four R.
So B-R-R-R-R.
You can check out my YouTube.
I'm trying to grow that right now.
But I am a licensed agent.
I became an agent in 2021 when I started teaching this stuff
and everyone wanted to learn about it and do it. So I was like, all right, why don't I just be the
one that sets it up? So me and my team can set it all up for you. Happy to do it. And we set it up
to where you guys can use it exactly how I use it. And then we teach you how to do it as well.
Perfect. We'll link that in the video. Thanks for coming on, man.
Of course, brother. Appreciate you. Yup. Thanks for watching guys as always. And then we teach you how to do it as well. Perfect. We'll link that in the video. Thanks for coming on, man. Of course, brother. Appreciate you.
Thanks for watching guys as always. And I will see you tomorrow.