Transcription
All right, VIPs. What's up? We're going live. Here we are in the VIP room. Thanks for joining me, everybody. I had to cram down my food real quickly, but I'm still going to drink my iced tea while I'm with you. Let's go ahead and drop your questions in the Q&A box. Is there a Q&A box at the bottom? Hopefully, there's a Q&A box. Top of the line.
Jessica's asking, "Uh, please advise how we can implement the velocity strategies when our assets are all in IRA." Well, sure. So, your money is an IRA, that's equity. Can I use debt against the equity? Most IRAs will let you. You could probably take a loan against your IRA, then I can pull some of the equity out using debt leverage, and then I can put it into another asset, which would be a layer 2, layer 3 asset. Uh, Aaron Baker, uh, and Jessica, not to leave you hanging, uh, contact your plan administrator. An IRA is a wrapper, right? It's the company set up. So talk to your plan administrator.
Idea. Aaron Baker, as a Bitcoin miner, crypto treasury operator of six leverage methods to acquire Bitcoin. If you're going to leverage a Bitcoin treasury, in which order would you personally use recursive leverage loops between the three types of assets to maximize your Bitcoin stack? Um, which assets are you talking about? Bitcoin miners and Bitcoin. Is that what you're asking? Uh, so how would I build a recursive loop between those two assets? Well, I would I would use the Bitcoin miners to get depreciation to write off against my income. And then the money that I was going to pay in taxes, I would put into more Bitcoin. And then I would borrow against the Bitcoin to buy more Bitcoin miners, which then I would use to write off against my income. The money I save in buy more Bitcoin. And I borrow against the Bitcoin. That's how to create a recursive loop. Mystery assets. I have a video on YouTube channel. I think it's called the perpetual machine and I break that whole strategy down.
Aaron, uh, Jesse, how many years have you been using these strategies in your personal finances? Uh, about a decade. About a decade, Jesse. A decade. Um, I'll tell you more of my story after lunch. Actually, I'll tell you sort of my path of how I got here. So, I'll break that down in greater detail. Jesse since 2015.
Uh, Greg Quilty, how do we get 100K credit cards for zero interest? Um, yeah, I have a I have two two friends that do this. One. One friend I work with pretty exclusively, Jack, King of Debt. Uh, but I can introduce you to him or you can just go online and apply credit cards. Uh, he has a very specific way that he does it. Um, and you know, maybe he'll help you claim credit first and he knows which cards and what sequence to get them and then you stack it's like card stacking so you stack the cards and whatever. A little bit more complex. But Greg, I can uh get you introduced to him.
Greg, all your credit cards are 20% warning. You have a 70 credit score. That's crazy. You need your credit cards. That's that's insane.
Greg Guest, uh, someone's working in the Q&A. They can move that a little bit. Greg, what is the best type of life insurance to overfund the cash value? Borrow against and reinvest not capital. Well, we like a whole life insurance. Whole life. Not term life, not variable life, but whole life. That's the one that we like. And then we would borrow against that and reinvest it against our lazy capital.
Alfredo, is it possible to have a HELOC for a home in Mexico? I don't options here and are potentially expensive. Uh, Alfred, I don't know. If you live in Mexico, you probably have better. You probably know better than I do. Uh, I I don't know the answer to that. Um, I do believe that people get loans on properties in Mexico. So, I do believe there are loan options, but I'm not an expert in getting loans in Mexico, so I can't I can't answer that question. I can probably Google it pretty quickly. Uh, by the way, don't use Google. I use Plexi for search. I probably use, but I don't know.
Uh, Gary Weir, for a paid-off primary home, would you go a HELOC or cash-out refi for cash to get Bitcoin and life policy? Uh, Gary, I mean, the the details the details, right? So, um, if if I had like a 2.9% 30-year fix on my mortgage, I certainly wouldn't want to refinance that and give me a rate of whatever six and a half percent. So, in that case, I'd probably rather get a HELOC. Um, but if my rate was at 7% cuz I got six months a month ago and now I can refi six and a half a take six and a half. So the details and the details I don't really know but that's kind of how I think about it from either side.
Uh, super sunny, do you have an inner circle we can pay for to join? Um, as a matter of fact, yes, Sunny, I have a couple different ways that you can work with me how close and what kind of money you want to me. Um, and I'll roll out some of those options here um, in the next session. So stand by Sunny. I'll show you how that how that looks to to work with me directly.
Um, Susan Burke, someone said something interesting to me. They said that since Meta is opening in Japan and buying Bitcoin with yen, it could be better than strategy. Uh, I think you're saying Meta isn't in Facebook Meta but is Meta Planet. I'm guessing that's what you're saying, Susan. Um, it could be better than strategy on that like arbitrageing yen against high USD. Uh, I that's something I can do cuz I'm not in Japan so I can't really arbitrage yen against high USD. Um, there's something famously known as the Japan carry trade where Japan has much better rates sort of suggesting so. So I borrow Japan and carry if I were to deposit carry back to United States in so borrow cheap money in Japan invest in the better deals in the US. It's called Japan carry trade. Google it. Um, sure it's a it's a good way to do it Susan. Something I do. Um, there's about 10 million ways to apply these principles. I pick a couple that I I know and they work and I have a pretty high confidence in I just apply them over and over and over and over.
Um, Christine Williams, how can I use from two empty building lots without selling them or should I simply sell them and invest the money? Um, you know, sure, both will work. Um, typically it can be hard to get loans against land. So, it may be difficult to get equity out of those. What you could do is maybe bring on a partner, so maybe like private equity deal, right? So, for example, I have plans to build on this. I think it's worth a lot of money. Uh, I bring a partner that'll buy 20% or 50% in and then, you know, in five plan, we'll build them out and I get equity that way. Um, you might find some lenders that hard lenders will loan against those. Um, should you sell them? Maybe. I mean, I don't know why you have them in the first place. So, I can't really tell you if you should sell them. Uh, but maybe it's better to get the equity in place somewhere else. It depends on where you're going to go. Remember yesterday I gave the story of Alice in Wonderland and the Cheshire Cat. He said, "Which way should I go?" And he said, "I don't know where you're trying to go." She said, "I don't know." And he said, "What do we do?" So, either path will do with those lots. I don't know where you're trying to go. Um, so yeah, get some money out of them, sell them, you know, whatever.
Bruce Parson's having some difficulty finding a HELOC with a low enough interest rate to have a safe spread. The idea is how to mitigate that debt or should I just wait until interest rates come down a bit? Um, I don't know what that means a safe spread. A lot of times people think that rates are too expensive. So for example, um, to bargain for Bitcoin is usually 10 to 12%. I see rates as high as 15%. Why would I pay that much? I'm not going to pay 12% to borrow against my Bitcoin. So you wouldn't pay 12% on an asset. I want a 50% a year. Sounds a good deal to me. Now I wouldn't borrow against my Bitcoin at 12% to go into a whole life insurance policy at 5%. That'd be negative carry obviously. But on the HELOC to your point, I mean, I gave you some real numbers in my strike convex model earlier and um, can you get can you get it for less than 10%? I'm sure you can. If not, maybe try to clean your credit first, maybe don't have equity, but if you have less than 10%, then you have a positive carry. So anyway, how to mitigate that? Uh, get better credit, find a better lender. Yeah. And and wait come down. Maybe coming down. Trump wants him 1%. I guess he's going to get it before he's out of office.
Um, Nancy Lopez, can you bargain a Bitcoin IRA? Talk to your plan administrator. Every plan has different rules. A lot of IRAs will give you a loan against the IRA balance. That is common. Not everyone can do it, but his comments, you can probably do that, Nancy. Talk to your plan administrator.
Bethany Redbo, main income from your husband. Okay. If I'm earning interest, this is going to increase my income. Can I transition my business to an investment business and utilize some of the tax strategies for business owners? Um, sure. Yes. I mean, that's a very broad question, so I'll give you a very broad answer back. Um, but but but the better answer is is one, it's a great question, but it really requires more of a strategy. So, as I told you yesterday, what the wealthy aim to do, what I aim to do is to own nothing but control everything. So, right off the bat, you're saying, should I move it my should I transition my business into an entity? Yes, because I wouldn't want to own anything. But really, you want to think about it through like a cohesive strategy of how you're going to make all these different assets work together in the most efficient manner. When Garrett was up here earlier, he said that like a lot of times people make the move, they set up a corporation, they sign a contract before they had made the strategy, but now because they set the entity up or sign the contract, it's too late. So really what I would say is before you start willy-nilly setting up corporations, moving things around. You really try to think about what is this cohesive strategy I'm trying to build and then you build towards that rather than just randomly building and then hopefully one day it makes something beautiful. Does that make sense? But ultimately, yes, move stuff entities, don't own it personally. That's sort of the north star if you will.
David Copel, what platform do you suggest to build Bitcoin to get started and keep it safe? Well, um, those are those are kind of two different things. Um, so number one, where do I suggest just buying your Bitcoin? I think they're saying you should build Bitcoin, but buy Bitcoin. Uh, I use River River River River River River River River River River River River River River River River River River River River River.com that's why I like tell Mark sent to you River.com that's why I buy my Bitcoin um to keep it safe um I think it's reasonably safe to keep it there um you have to understand that with risk there's never getting rid of risk just mitigating risk we talked about lender concentration keeping all of your risk in one platform so maybe I wouldn't keep all my Bitcoin in River so for me I keep it in multi-signature storage I keep some on cold storage I keep some on River I have some in my brokerage account and so I have it distributed I don't have a single point of failure um to keep it safe and keeping it safe is do I trust River or Coinbase to keep it safe for me but what let me get it back or do I trust my own self storage self-custody cold storage they They have trade-offs. They have trade-offs. Uh, Maurice, that's why it's not one or the other. It's how about all of those options.
Maurice Pel just wants to work for people outside the USA. Do you have people who recommend you? Um, as I've shown you, these principles apply no matter where you live in the world. So it doesn't really matter where you live. The only reason why it might matter where you live is like if you're looking for a recommendation for a specific advisor in a specific country like 150 countries. I don't know in all 150 countries. Um, but uh, but but the strategies that we teach, the coaching that we provide, it applies anywhere anywhere.
Uh, Dustin Brown, would you suggest time from putting money into a cash account to invest is better than better than in a registered account even if you would be giving up tax break in the present? So, put money in a cash account. I don't know what you mean by put money into a cash account to invest. So, you're kind of throwing off that word into a cash cash assumes it's cash, not investing, but you said into a cash account to invest. So, I'm not really sure what that means. Um, I think what you're saying is would I be better to invest through a tax-advantage structure like an IRA or Roth IRA versus um giving up the tax benefits I would get from that and investing directly on my own. I think that's what you're saying. Someone paraphrase. Um, so we talked about the matrix yesterday. Remember these these are not binary. Yes or nos? They're binary. So, um, I want to have high-value assets and I want to have high control over them. Um, if I had Bitcoin in an IRA, it's high value but it's low control. I would prefer I I would always prefer to give up the tax benefits to have the control. That's what I would prefer. So hopefully that answered your question.
Uh, L soier on your spreadsheet retirement Bitcoin managing the annual loan look scary and complicated should be neither. I don't hear a question in there. Um, we talked about yesterday the risk and leverage policy. So we want to first before we do anything, we need to build our treasury policy, our treasury operating system. And so I would highly recommend nobody do any moves. Freeze, don't move. Um, until you build that out and I got you going on two of the four doctrines you need to work on. We need to finish the two plus you need to build four. Then you can start working on the stuff we talked about this morning. Um, so you know when it comes to borrowing against Bitcoin or any other asset and it's scary dealing with the payments. Um, once you've built out your whole treasury operating system, it's not scary. Now it's discipline.
Uh, Matt Reed, uh, I'm thinking Australia, a Austria, Austria, Australia regulations makes it difficult to get into crypto quickly, i.e. number of banks only allow 10k per month into crypto. Um, what fee facilities exist over in the US that would allow the AU to USD to crypto quickly? Well, usually you could set up an international trust, international corporation or something like that, right? So I could set up a trust in Panama and Bank of Panama or Hong Kong or Singapore or in the Cayman Islands or wherever I want. And then I can just do it with the Cayman Islands or Singapore or Hong Kong. I'm guessing in Australia or Austria. I'm not sure which country. I think Australia you could probably do the same thing. So maybe you work with another entity in another country that's more friendly. That's more of an advanced strategy, but it's what's called flag theory. You want to put your whole life in one stock or all your money stock, all your life in one country. So we can use different assets and different structures in different countries to get the benefits. And that's even more advanced strategy, but that's probably recommend that. Um, if you're being restricted by your country, like for example, just in the United States, for example, we have 50 states and some states are much more restrictive. So for example, there's some states that you can't get a loan against coin by certain companies. Well, then I can just set up a corporation in a different state and then I can take the loan to the other state. So these are like easy workarounds. It's like anybody know what a VPN is. Anybody ever use a VPN on your computer? So like I have a house in Mexico. I've talked about when I go to Mexico. If I jump on like Amazon or Netflix or whatever, I can't see a lot of the same stuff because I'm in Mexico. I like to watch on a direct race. I like watch races and I can't watch them when I'm in Mexico. So what do I do? What do I do? Not watch them. Well, I guess I'm going to watch Moto. My favorite thing. I just won't watch it because I want to watch it. No. Felipe says I use a VPN. I just turn the VPN on. I My computer says that I'm in America even though I'm in Mexico and then I can watch motocross race. That's what I'm putting trust into these other countries. I use a VPN. Yes, I will be in one this weekend. Of course I'll be there. I don't think I'm saying one in at least 20 years. Uh, okay.
John Kaduka, would you recommend buying a Bitcoin mining site to host your own Bitcoin miners? I've had had to start about starting a business as a way to combine real crypto. Um, would I recommend buying a Bitcoin mining site? I don't know the details in the details like how much they sell for my game. Like I don't know. Um, but I use a hosted mining platform, John. So I work with a blockware and um, they host it for me. Uh, I'm in California. Energy is way too expensive to run uh, run here through my funds. I have a Bitcoin opportunity fund investor giving with me. Send me a message fund and we're invested into quite a few Bitcoin mining operations through the fund. But personally, I'm not going to start one as a business, buy one, but I do mining, but it was self-hosted with blockware. Um, Andrew, but but but John and I try to answer questions a little better. I mean, we have invested into a few of them and they make good money. So, if you're think about as a business, I mean, evaluate as a business, it could be good option for you the details.
Um, Andrew Regoni, uh, you're wondering what data you have behind how many wealthy people actually use these strategies. Uh, all of them. All of them. When I was I don't know how long you guys have been following Donald Trump. He was he's been well-known long before he was president, right? He's written how many bestselling books? He's written books with Robert Kiyosaki. They wrote a book called "We Want You to Be Rich." Um, long long long long before ever being presidential. And Donald Trump was known as anybody know what his nickname was long before his president. Anybody know type of chat? "The Art of the Deal" was one of his books. Yes. But what was his name? The king of debt. The king of debt. That's the king there. Kevin got it. Deing. So they've been using strategies forever. Um, Robert Kiyosaki was my mentor for 25 years. One of my friends doing a lot of stuff together. We used to speak at the same conferences and he always call me off stage. He says he's like, "Oh, these guys like Mark Moss and Peter Schiff, they got to move to Puerto Rico to get out of taxes. Don't they know that rich people never pay taxes?" As as as GP appear about Warf, they pay less less income income tax than the secretary. They've always been using these strategies. What percentage? I mean, that's that's a ridiculous question. How high is the sky? I don't know. Uh, but yes, most rich people, most people use these strategies.
Um, how many people are offering HELOC loans? Any recommendation? I mean, most banks, I don't know.
Uh, Chris James, my job by 20% my income going to my 401k Roth. I have a self-directed. Should I lower that amount and put it into level one liquidity or the layers as needed? Um, you know, Chris, I don't know. Uh, we'd have to kind of dig into the numbers. Let's kind of think about how we do this. Obviously, you know, I I gave you um some some uh the artifact and you can enter your numbers and you can start to figure out what percentage you need. And then once you have that filled out or, you know, more tools that can kind of help you get there, but you can choose what I gave you. And once once you have that filled out, you see the percentages you need each one. And then you answer your own question. Uh, these are where I need them to be. So, I should probably take more income and and direct them in here. So, I have that filled So then you would answer that question once you know what your target is without knowing your target. I don't I don't know what to say. So that's what I do. First try to figure what my target is by filling all that out where I want those numbers and ratios to be. And then I'd ask the question, how do I get there? Could I rebalance those to get there? Or do I need to fix my income to even it out? But first start with it. Start with the target. Where am I trying to hit? Then you can start to see what are your options for getting there. Maybe rebalancing is one way. Maybe I have to put income in. But you need to figure out target first.
Uh, normal I think. How about converting 401k I into life insurance for a grandchild? Then borrowing from this life insurance. Sure. Any path will do. I can check out all day. Any path will do. Um, yeah, sure. It sounds like it sounds like what you want to do is take money that you're saving for yourself, but now think about transitioning into legacy wealth that you can give to your grandchild instead of for yourself. Be a great way to do it. The benefit of the life insurance is that you get the death benefit now and live off the death benefit and have the death then when you die the death benefit can replenish itself and it gives that money tax-free to the heirs. So life insurance is is about more than just the insurance. It's about the tax advantages about the asset protection. It's about all that the liquidity of it.
Matthew Manino, are you want to share those sort of the motivational recordings? You guys like the motivational recordings? Anybody like that? Give me a muscle up if you like the if you like the motivational recording. I uh that's why I listen to the gym pretty much every day. Uh, not music to play those like musical tracks of that. That's just on YouTube music. Just just just search uh motivational music on YouTube music. Gary weird gives me a down thumb. You don't like motivational music. Okay. Okay. You can be depressed. Everyone else go for it. Uh, I think uh, you know, maybe I say too the two you want the two most powerful words. Everything with me. The two most powerful words in the English language. I am. I am. Because what's on the back side of that is my destiny. I'm lazy. I'm no good with money. I am terrible with wealth. Or I'm super smart. I'm talented. I am motivated to go work. I am going to figure this out. I am not going to fail. So what I'm saying is self-talk is super important. Humans have the ability to speak things into existence. You guys believe that humans have the ability to speak things into existence. You have to be very very very very careful with the words that come out of your mouth. Especially on the back of I am. So I love listen music and I love to feel the emotion of it and I love to repeat it back to myself as I listen to it. But this is not about motivation. What's up? Oh VIP room. We're done. There we go. Sorry I got off track. Motivation music. You just go to YouTube. I think it's called uh Macave Valley Motivation. Macave Motivation. Just Google that. Don't worry. We'll be more of it. Yeah. More David. We're going to wrap it up with that. We got >> Instagram. It's a box. >> Okay, come on, Hanner. Hanner, welcome everybody. Come on, Tanner. Shut up. I have a mic. All right, there he doesn't have a mic. He doesn't have a mic. Okay, we have this box. Where's the camera? Okay, watch out. We have this box and what we're going to do is we're going to get this box out to the top five Instagram stories. The top five Instagram stories. Anybody on Instagram? Anybody on Instagram? Three people. Three people on Instagram. Okay. Well, you guys need to get better at that. How you going to know about the world? Three people. Okay. Uh, three people on Instagram. The the top three top five. >> The top five. We're going to get a box. What's in the box? I don't know what's going to open up. We have stuff in here. Oh, wow. Okay. We have, look at this. An awesome embossed notebook that says wealth on it with a pen. Uh, a beautiful Wealth OS bookmark for all your reading. Oh, look at this. You guys see how much coffee I drink? We have this Wealth OS mug. Look how nice this thing is. Rubber bottom. Amazing.