When you listen to Dave Ramsey and throw large chunks of money (a big bonus or a big commission or money from a house flip) at consumer debt -- like credit card debt, student loan debt, auto debt, etc -- you are LOSING YOUR OPPORTUNITY for that money to build wealth!

Here is a better way to both BUILD WEALTH and PAY OFF DEBT.

1. Refinance your consumer debt (nerdwallet.com or sofi.com)
2. Buy an income producing asset with your 'chunk' of money
3. Use the income from the asset to pay down the debt over time.
4. When you are debt free, you can enjoy the monthly income from the asset for years to come!

So don’t take a chunk of money and use it only to pay off debt. Instead restructure the debt and buy assets that create income for you that can then pay  off the debt and continue to put money in your pocket year after year. 

TAX COUPONS

• Wealthy people like Donald Trump and Warren Buffet are famous for publicly declaring how little they pay in income taxes by using the full provisions available to them in the federal tax code.
• Stuffing money into tax deferred plans like 401ks, IRAs and other plans like this only delay the tax problem -- there are better alternatives.  
• Tax coupons (conservation easements, film credits, fee simples, and others) are examples of ways the wealthy pay only a fraction of their income taxes.
• Most people are advised by accountants to spend money on company expenses at the end of the year -- expenses that are unnecessary and sometimes ridiculous.  
• Tax coupons are provisions made by the federal government to give tax credits for accredited investors who invest in certain projects -- often that relate to easements and environmental sanctuaries.
• When you use a tax coupon, someone who owes $100,000 in federal income tax can purchase a $25,000 tax coupon to cover their taxes. This means they write a check for $25,000 instead of $100,000.
• Tax coupons are used regularly by savvy investors to reduce their income tax.

Don’t Pay Off Your Mortgages

• Many people make the mistake of thinking that mortgage debt is bad debt. Actually, mortgage debt allows you to control your capital and also give you tax deductions.
• Homes and properties appreciate no matter whether they are owned outright or have a 30 year mortgage. Appreciation is unaffected by debt.
• One reason to do a cash out refinance is to free up the ‘equity’ so you can have more capital to grow outside of your real estate portfolio (or to expand it!
• The negative tax consequences of paying off your rental or home mortgage.
• The negative market consequences of paying off your rental or home mortgage.
• The number one law of investing teaches us to buy low, sell high.  This means you should cash out as much equity as you can to ‘cash in’ on your market winnings.
• If you want the maximum amount of options, safety, tax incentives and opportunities to grow wealth, you should NOT pay down mortgage debt.

Rent Where You Own

• Renting where you live gives you more flexibility and freedom.
• The renter has almost no market risks, whereas the owner can be stuck with a home that they can get their money back from if the market turns.
• Renting allows you to invest your down payment money in investments that put money into your pocket.
• If you would be 25% wealthier by the time you reach your 60s by renting vs owning AND you did not have to give up any of your lifestyle quality, would you rent vs own where you live?

Premium Financing

• Premium financing of large, cash-heavy permanent life insurance has been used by the wealthy for over 100 years to protect their wealth from taxes and to grow their wealth.
• The bank funds your policy with large lump sums while you pay the bank a much smaller amount as principal and interest.
• If structured the right way, these payments to the bank can be tax deductible.
• After the bank is paid off, you can retire with a large tax free paycheck every year for the rest of your life -- you win the tax game now by having large annual deductions (usually for 5-10 years as the bank funds the policy) and later in retirement when your income is tax free.

Text MORE TAX HELP to 770.400.0092

Traditional retirement solutions are broken, they leave people with massive tax and market risks with only a 'fingers crossed' hope that their money won't run out.

Americans used to have certainty about their retirement. They would get a guaranteed check for life from social security and from their pension. Unfortunately these certainties are all but gone
Now Americans are left with retirement accounts that are fully invested in the stock market. And you know what they say about having all your eggs in one basket right? Crossing your fingers and hoping you will have enough to live on is a terrible way to go into retirement. Wouldn’t you like to have certainty? Bulletproof peace of mind?  
More with David offers the New IRA -- its the INSURED RETIREMENT ADVANTAGE. One of the oldest and best life insurance companies gets one of the largest US banks to do all of the heavy lifting so that you can get certainty for your retirement.
What’s your part? You write 5 checks and then you are DONE. Then you decide when to get a check tax free every year!
5 checks and you can check off your retirement!

One great thing about the NEW IRA is that the life insurance company and it’s partner bank have covered virtually all the market risk for you and have erased the tax risk you already face with traditional retirement plans.  

In this episode I discuss the NEW IRA with Gary Eastridge and why the traditional 'answers' to saving up for retirement are terribly broken. Traditional retirements require you to save and save until you are old, pay massive taxes on your growth and then have no built in certainty that your money won't run out. Winning at retirement REQUIRES a plan that can create a check for life that is significant enough to live on and preferably is immune to taxation.  
For more information about the New IRA text NEW IRA to 912.247.2041 or click on the video link at keepmoremakemore.com

In this episode, David interviews CEODylan, creator of Producer Grind.  Dylan is a music producer, entrepreneur and podcaster. He will share with you his journey to becoming a successful music producer and valuable lessons he learned along the way. 

Things you will learn in this episode:

• How he started his career in music production & podcasting
• The importance of self-development & knowing your craft
• Adding value to others and being a problem solver
• Why you should utilize social media platforms
• How to be effective in sales
• What it means to not make bad financial decisions

Connect with Dylan:

• Website : Producergrind.com
• YouTube : Producergrind
• Instagram : Producergrind

Maybe you have been wondering “WHY LIFE INSURANCE?”  There is so much confusion about what life insurance is, what it is for, how much do I need, do single people need life insurance -- on top of that stir in the even more complex questions: 

• Should I buy term insurance or permanent insurance like whole life or universal life?
• Why would ANYBODY ever buy whole life insurance in the first place?
• Is the life insurance I have through my work enough or should I also have a policy that I own for myself?

With all of these questions people face the major obstacle of COMPLEXITY.  It appears that life insurance is too complex, and we all know that COMPLEXITY IS THE ENEMY OF EXECUTION. So a lot of folks just shrug their shoulders, cross their fingers that they have enough life insurance, and move on. This is probably why the number of Americans that own independent life insurance policies is only 44%!  

In this episode I speak with Don Blanton, president of MoneyTrax who has been on a campaign for over 30 years to help people understand how life insurance works and how much you need.  He has been noted as being critical of life insurance companies for doing a poor job in understanding and explaining their own products.  

What I found best in this interview was the following: 

• The difference between life insurance as a WANT product versus a NEED product
• Why 5x your salary is a terrible formula for determining how much you need
• The foundational question you need to answer isn’t ‘how much’ but ‘what do you really want to happen?’
• Why life insurance companies love to sell term insurance (because they only have to pay out less than 2% of them)
• How wealthy people use some types of life insurance to grow their wealth.

One helpful video that I offer to my clients to help them better understand life insurance and how it works is this 10 Minute Lesson On Life Insurance.

To get in touch with Don, you can visit his social media and his company websites below.  

Facebook: https://www.facebook.com/moneytraxinc

LinkedIn: https://www.linkedin.com/in/don-blanton-92b53b10

MoneyTrax: https://www.moneytrax.com/