E20: The 20 Something's Guide To Creating Wealth

Summary

In this episode, Mark Dulaney and Rick Collins discuss essential financial wisdom for individuals in their 20s. 

They cover the importance of budgeting, the 50/30/20 rule for managing income, the significance of compound interest, and the necessity of saving for the future. The conversation also emphasizes the connection between health and wealth, the importance of finding one's purpose, and building healthy relationship...

Today we’re not just talking numbers—we’re talking about the game-changer behind every high performer: personal coaching and accountability.

If you’ve ever set a goal and failed to follow through, you are not alone. The truth is, we all have blind spots. We all need feedback. And the fastest path to growth? Is having someone in your corner who sees what you don’t and calls you to more.

So buckle up—we’re digging into the mindset, the...

In this episode of the Banking for Yourself podcast, host Mark Dulaney and financial expert Rick Collins, delve into the crucial mindset shifts needed for long-term financial success. 

They explore the true cost of debt, the impact of instant gratification, and the power of strategic planning. Discover how to transform your financial habits, protect your wealth from taxes and market risks, and ultimately, build a future where you ar...

Summary

In this episode of the Banking for Yourself podcast, Mark Dulaney and Rick Collins delve into the often-avoided topic of taxes, exploring how to legally reduce tax burdens and prepare for retirement. 

They discuss the complexities of the US tax system, including marginal and effective tax rates, common deductions and credits, and the importance of tax diversification in retirement planning. The conversation also highlights th...

To be clear, without hype and exaggeration, Rick shows you how to:

1- End poverty / financial struggles in one generation

2- Make your child or children millionaires

In this conversation, Rick Collins explains the concept of the 'Million Dollar Baby' plan, which utilizes life insurance as a financial tool to build wealth for children from a young age. 

Rick then emphasizes the importance of starting early to take advantage of...

In this episode of Banking for Yourself, host Mark Dulaney and financial expert Rick Collins delve into the misconceptions surrounding 401k plans, exploring their origins, tax implications, and limitations. 

They discuss the importance of diversifying tax strategies for retirement savings, including the benefits of Roth IRAs and cash value life insurance. The conversation emphasizes the need for proactive financial planning to secur...

In this conversation, Rick Collins explores the modern applications of life insurance, emphasizing its evolution from a simple death benefit to a versatile financial tool. He explains how life insurance can serve multiple purposes, including protecting assets from lawsuits, providing tax benefits, and funding education. 

Co-host Mark Dulaney asks the questions you might have about the mechanics of accessing cash value, the associate...

In this episode of 'Banking for Yourself', your host Mark Dulaney and financial expert Rick Collins explore the concept of “Personal Banking” as a primary strategy for you to take control of your finances by emulating banking practices. 

Rick explains the role of life insurance in wealth building, the importance of starting small with investments, and the risks associated with traditional stock market investments. 

The conv...