Episode 83:

Be Your Own Bank

What You Will Learn:

Why one of the most important lessons you can learn about money is that where you keep it makes it do different things
How Mark helps seven-figure business owners reframe the way they think about money, and how that can help you create certainty for yourself and your business
How Mark teaches business owners to “be your own bank” and stop paying high interest and fees to financial institutions
How particular types of whole life insurance policies can become a financial vehicle that you can borrow against with no penalties, with examples from Mark of how it works
Why writing a contract with yourself can be a powerful motivator to push you to keep working toward your own success
Why a whole life insurance policy is a superior way to store your money over a 401K, an IRA or a bank account
Why Mark is passionate about working with business owners, and why too often business owners don’t diversify their portfolio outside their business
Why it is important to balance your investments in a high-risk asset with investments in a safe, predictable, liquid account like a whole life insurance policy
Why thinking differently about your money and learning to be your own bank is crucial, and why much of the financial advice you can get is often wrong or shortsighted
Why surrounding yourself with the right people, the right coaches and advisors, and the right peers is crucial for empowering yourself and getting the support you need

About Mark Willis

“We’re all in the banking business, just on the wrong side of the desk.” – Mark Willis is a man on a mission to help you think differently about your money, your economy and your future. After graduating with six figures of student loan debt and discovering a way to turn his debt into real wealth as he watched everybody lose their retirement savings and home equity in 2008, he knew that he needed to find a more predictable way to meet his financial objectives and those of his clients.

Mark is a CERTIFIED FINANCIAL PLANNER™, a THREE TIME #1 Best Selling Author and the Owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois. Over the years, he has helped hundreds of his clients take back control of their financial future and build their businesses with proven, tax-efficient financial solutions. He specializes in building custom-tailored financial strategies that are unknown to typical stock-jockeys, attorneys, or other financial gurus.

As co-host of the Not Your Average Financial Podcast™, he shares some of his strategies for investing in real estate, paying for college without going broke, and creating an income in retirement you won’t outlive. Mark works with people who want to grow their wealth in ways that are safe and predictable, to become their own source of financing, and create tax-free income in retirement.