The Money Multiplier Method With Brent Kesler #MakingBank #S6E52
In this episode of the Making Bank podcast, we welcome guest Brent Kesler, owner of The Money Multiplier. Brent was a chiropractor and chiropractic coach for over 14 years. However, after developing and implementing The Money Multiplier (TMM) Method, he could pay off over 984,000 dollars in 3rd party debt over the span of 39 months. Once he had realized how powerful the TMM method was, he became passionate about sharing it with others. His primary goal was to help more people understand how to manage and grow their wealth. After taking advice from his previous mentor, Brent started his journey to becoming a licensed producer. Over the last ten years, he has been lecturing thousands of people around the country on the dynamics of the TMM Method and helping individuals break the bonds of financial slavery and take control of their financial life. Brent passionately believes that whether you make $10/hour or $10,000/hour, you should know about and learn how to use this powerful information to control your money. This week on the podcast, Brent talks about his money multiplier method. He explains the infinite banking system and how you can start putting your money in different areas and make it work for you. Listen to Josh and Brent discuss the money multiplier method: (2:42) Brent's Background Brent used to be a licensed chiropractor and chiropractic coach; however, that didn't necessarily translate into patients lining up outside his clinic. He had precisely 984,711 dollars of debt to his name. When he first heard someone speaking about the infinite banking concept, like most people, he was skeptical, but finally, in 2008, he started implementing the idea in his life and was able to pay off his debt in 39 months. After seeing how well it worked for him, Brent has now shifted his focus to teaching others how they can implement the same concept in their lives and change their financial situation for the better. (7:00) What Is The Infinite Banking Concept So the idea around the concept is that you purchase a whole life insurance policy in a mutual company that pays dividends. It's not the standard whole-life policy that most agents try to sell you. It's a specifically designed and engineered whole-life policy that pays yearly dividends. The policy is designed so that you have high, immediate cash value to use from that policy and immediate means within 30 days. You probably haven't heard about this because the agent has to take a 60 to 90 percent cut in their commission to design this policy, and no agent wants to do that. (10:28) How Does The Policy Work? You can set up the policy with any amount. Whether it's 100 dollars or 100,000 dollars, the policy will work the same way. The policy has a guaranteed growth rate inside the contract. Typically it's between 4.7 and 6.2%. So you can take out money on a policy loan, which is borrowing money from the insurance company's general fund. However, since it's borrowed money, the money you put in continues to grow uninterrupted compound interest. (14:56) How Long Do You Have To Pay? How long you pay is up to you. Think of it as a deposit; you put money into an account you control, and those numbers continue to increase each year. Now, the dividends can fluctuate — one company may have a higher dividend this year, and then they may have a lower dividend next year. However, depending on how your policy is designed, it will be more efficient. (20:08) One Of The Tools The Rich And Wealthy Use Brent explains that this isn't about you buying the policy right now. This is just one of the tools that the top 1% use to grow their money. Brent's goal is to teach and educate you on how you can design your policy to best suit your specific needs. He aims to share the money multiplier method so that you can drastically change your financial life, just like he did. Links mentioned: TheMoneyMultiplier.com Facebook: themoneymultiplier LinkedIn: linkedin.com/in/brent-kesler-324a