Drew White 👋’s Post

Buying a 24-unit Apartment Complex with....an insurance policy? 🤔 Friends and advisors told him he would lose his shirt starting a policy! How & why he did it. Plus a bonus for you: He’s 8+ years into owning his policy. So I asked him… What does he think of it? Any regrets? Did he lose his shirt? Was it a scam? Straight from his mouth. In tomorrow’s newsletter. Don’t miss it! From someone who has owned multiple businesses & real estate. I’m unleashing the transcript (& recording) tomorrow in my newsletter! Sign up below!

Celebrating 13 years of awesome-ness together from the road! Yesterday was our anniversary. If you told either of us 13 years ago (heck even 2.5 years ago!), we'd be traveling the country as a family... We would've said you're truly insane. Especially with neither of us being camping people before all this. It's tough to find sitters on the road so we get creative with our dates: The kids swam for a few hours while we relaxed. (Sort of...What kind of dad would I be if I didn't try the obstacle course a few times?!) Put a movie on for the kiddos inside the RV while we had a date outside. We'll have plenty of time to catch up on date nights out later. Right now, we're enjoying this adventure.

Going all-in on your business is a HUGE gamble. Will it pay off? No one knows. But at least you did something few did: You entered the arena. You took a chance. Here's the mistake I see far too often: As soon as you start having access, most people tell you: "Oh, you better diversify." "Let's start that Solo-K account to get your tax burden down this year." Huh? Here's a different philosophy: Double down. Strategically. i.e. Reinvest in the business, set capital aside for more opportunities, etc. When I work with business owners, we have 3 main goals: 1️⃣ Cash flow for their business today that we intentionally set aside. 2️⃣ Using the cash strategically to bring their tax burden down. (I'm not a CPA. So it helps to have a solid one with implementing this part) 3️⃣ Tax-free income later in life: - Meaning the capital they're using to grow their business today, will also provide tax-free income when they're older too. Going all-in on your business is only a gamble to one group of people: Those who've never entered the arena. When you're having success & revenue is growing... Stay focused. Only add what enhances your business. Not what takes capital from it.

6 steps to free your business from the herd: 1️⃣ Ignore ALL the traditional BS. If they don't have what you want or aren't working towards it... Why are you listening to them? The best example? Biz owners listening to advisors sitting behind a desk all day who’ve never run a business in their life. 2️⃣ Question everything. The best way to truth? Ask better questions. This has served me better than anything else on my financial journey. Want to stay in the herd? Don't ask questions. Trust everything you've been told. 3️⃣ Force yourself to save annually --> but not in Govt. sponsored middle-class accounts. Or Banks that bog your business down. Nope. Create a system for your business & family that allows you to borrow against your wealth. The best forced savings plan? -> High cash value whole life policies used as your bank and lender for your business. 4️⃣ Create MORE cash flow Invest capital back into your business or into assets that generate steady cash flow. Hint: Use your policy for this. This allows you to keep your money growing & compounding while using it. Your policy will become a cash flow machine long-term. 5️⃣ Focus on Lost Opportunity Cost Traditional tax (looking at you Solo-Ks & IRAs!) strategies make you look good on paper today. But what about 15, 20 years from now? What's the lost opportunity cost of missing out on 20 years of opportunities? How much will you pay in taxes in 15, 20 years? Can anyone tell you that? 6️⃣ Don’t forget to enjoy the journey! Celebrate your milestones and enjoy the process of achieving freedom. If you only focus on being happy "when" you get there... You'll miss the beauty in front of you today. That's it! What did I miss? Let me know in the comments!

Well? What is it?

He’s learning about money here. Everyone wants to pass on their wealth and/or their business to their kids. I could be proven wrong about this (as my kids are still young) but… My theory is: Passing down the mental game is more important. That, and seeing the example being modeled for them. I can give my kids a pile of money someday. But if I taught them nothing, they’ll likely squander it. My goal is to do both! Here’s how we teach about money in our home: Enter the Family Economy! The kids opt into it. They have 5 tasks each weekday to complete. (In the video he’s helping with breakfast which is one of his tasks. And evolved to him wanting to make eggs for everyone) They track it & get paid for what they did that week. They can also opt out and not do it. Family Economy doesn’t end there though. When they’re paid, they get paid in 3 buckets: 1. 30% to Wealth/Growth Fund (earns a GENEROUS 10% interest): They are allowed to borrow against this fund for businesses or opportunities or investments. (This is exactly what I show business owners how to do with a cash value policy). They have to pay it back with profits from their business or family economy when they borrow against it though. After that, they can decide what to do with their business profits. They can choose to spend, save, or give with it. I only have them follow the 3 bucket rule for money they earn from us. 2. 10% to Giving: *One kiddo is so generous I don’t even tell them to do this anymore. They like to send cards with money to grandparents and cousins. Their idea, not ours. 3. 60% to Spending: They use this for their “wants”. Eventually, as they get older, they’ll cover needs too. We’ll start at 50% to ramp them up. That’s it! What do you think of Family Economy? Or how do you teach about money in your house? Share below!

2 years of this nonsense! Washing dishes by hand! While it can be annoying, (especially when there’s a giant pile) I find I have some of my best epiphanies and insights during that time! Don’t get me wrong though… When we stop traveling, I’m getting the BIGGEST dishwasher of all time! p.s. Please, do NOT tell my wife I made this post. :)

How Banks hold you & your business back. And how you can change it! What you currently do: 1️⃣ Regular savings accounts - Meh. You earn peanuts in interest, and every withdrawal interrupts any gains you made. Most business owners opt out of this one. They know their capital can work smarter. 2️⃣ High Yield Savings Accounts? Sounds promising, until you realize you're locked in and slapped with hefty fees if you need your own money. Remind you of any other financial products? *cough* 401Ks & Solo-Ks *cough* That’s not even the worst part! You're not just a customer of the bank when you deposit money… You're a creditor. Yup, you've essentially lent the bank money, losing control in the process. Seems like a raw deal, no? Time to level up. 💪🏻 Introducing the better way: Firing your bank. Starting your own via a cash value insurance policy. Using it creates cash flow for your business today. And tax-free money when you're older. You can use the same rules the banks play by. And uplevel your business in the process. Ready to see what other smart business owners are doing? Don’t get left behind.

Rich Dad, Poor Dad is NOT Robert Kiyosaki’s best book. It’s Cash Flow Quadrant. Hands down. Close 2nd: Rich Dad's Escape from the Rat Race: How to Become a Rich Kid It’s written as a comic book for kids but most adults should read it too. Especially before reading any Ramsey-ness. 3rd is Rich Dad, Poor Dad. What say you?

When you’re putting $25k, $50k, $100k (or more) into a cash value policy. And.... You’re actively building your business day in and day out, You need to maximize the living benefits of a cash value policy ASAP! You need liquid access to funds. And you need someone on your team to service the hell out of you. So you can focus on what you do best: 👉 Growing and running your business! You need someone who’s going to maximize your time, and make sure you get the MOST out of your policy. So you can have more capital for your business today... And tax-free retirement income later. I’m sure your dad’s agent could set you up with a policy. Or your buddy who got his insurance license last week and needs a new client ASAP. But no chance they’ll be there to service you when you need it most. Or understand your business’ needs and goals. Anyone can put you into a product. That’s the easy part. But will they be there to help you maximize it to its fullest?