Wade Reed continues his conversation with financial strategist and former Navy officer Gary Pinkerton about using the Family Banking Strategy to achieve financial stability. In this episode, he shares practical tips and real-life stories centered on the benefits of whole life insurance, the importance of maintaining a high level of liquidity, and the right way to navigate losses in the stock market. Gary also talks about minimizing risks when getting into alternative investments and how you should never lose control over your own money.
KEY TAKEAWAYS:
- Learn how to minimize risks when you hand over your money to someone else. Middle persons in alternative investments could take it away if you become too careless.
- Maintaining a high level of liquidity of around 30% to 40% is a must in achieving financial stability.
- Whole life insurance is considered a lower-risk alternative compared to other investments since it is income tax-free and can be borrowed against while continuing to grow.
- Never forget to do your due diligence. Do not take the easy way and get duped by investments promising high returns but come with a ton of risks.
- Always spend time and resources on investing in yourself. Do not simply invest in someone else’s business.
KEY TOPICS:
00:35 - Alternative Strategies For The Stock Market
07:31 - Understanding The Complexities Of Whole Life Insurance
09:51 - Making The Most Out Of Alternative Investments
16:49 - Betting On Yourself And Maintaining Liquidity
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