Jan 2, 2023
Taking Control of Your Financial Future for You and Your Business
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, the Owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois and co-host of the Not Your Average Financial Podcast. 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 unknown to most financial gurus. He has become known as “Not Your Average Financial Planner!”
What problem do you solve?
The greatest financial challenge facing every business owner and American – Banking.
Show Notes:
- It’s important to think about what you want your money to do for you or else everyone else will tell your money what to do (i.e. McDonald’s, Apple, Netflix).
- Build your wish list then make a plan.
- The “Arrival Syndrome” is the worst virus that has effected humans. It is the thought that you have arrived at the best of what you can do.
- The biggest problem you have in business are silent partners –
Uncle Sam and The Bank.
- The Bank – Debt is one of the oldest institutions in human
history.
- The bank can suck profits off our back.
- Uncle Sam – As a business owner, the the tax bill is the
largest expense over your lifetime.
- To make sure your minimize your tax bill, make sure your money isn’t taxed in retirement.
- The Bank – Debt is one of the oldest institutions in human
history.
- Money
- We want it to be liquid.
- We want it to be tax-advantaged.
- We want it to a passive income in retirement.
- We want it to be a source of money we can use like a bank for ourselves.
- The bank on yourself strategy helps minimize your bank bill and
your tax bill.
- This is done through life insurance policies.
- *** You must do this with the advice of a certified financial planner.
- The founders of JCPenney, Disney and McDonalds have used this method.
- We haven’t heard about this because banks and WallStreet don’t want us to know about this.
- The policy has to be designed a certain way to be able to do this.
- Mark’s Podcast: Not Your Average Financial Podcast
Mark Willis’ Best Small Business Tip
- Mark recommends checking out the Profit First method. (Check out the book, Profit First, by Mike Michalowicz)
Connect with Mark:
Website: lakegrowth.com/
Schedule with Mark: lakegrowth.com/schedule/