We’ve talked a lot about where to hedge your best, now it’s time to talk about how to be bold (and smart about it).

About Indestructible Wealth: I’m Jack Gibson. I’m your wealth strategist and I’m here to help you make some money. The Indestructible Wealth Podcast is for young entrepreneurs who want to make, keep and grow wealth to enjoy now, and for years to come.

Episode #8 – It’s Time To Have Some Fun. Take Some Big Swings.

Welcome to the Indestructible Wealth Podcast. This is the place where we help young entrepreneurs to make keep and grow wealth that you can enjoy now and for years to come. I’m your host Jack Gibson, a senior or serial entrepreneur, founder of multiple seven and eight figure of businesses, and wealth building strategies. Each week I’m going to share you my tips, resources and secrets, to help you create a plan and build the life you’ve dreamed of.

Alright welcome back to indestructible wealth I’m your host Jack Gibson. And a couple of months back let me tell you guys a story about 2 months ago. It was February I take my boys and 3 of their friends skiing and I love snowboarding and it’s such a great thing for me to do it with my boys and my wife does it too but for this one is just guys.   So we go to this little mountain in lower Michigan so I really can’t call it a mountain but it’s like more like a big hill.  So I take a selfie with the kids like were all excited everything is great this is our time to get out together.  So the very first run I get to the very top right, and it’s snowing really heavy, I can’t see too well I got an old pair of goggles on so that didn’t help either.  And I decided I want to go down the terrain park run but I’m going to avoid all the jumps. The terrain park is where they have all those half pipes, the crazy shit and my kids they like to do they’re not scared but I’m scared so but I really wanted to do that run because it’s little bit steeper it’s kind a like a right in that sweet spot for my skill level.  So I’m going down this run and all of the sudden my feet are in the freaking air and I’m like, what happened!?  so of course I panicked and I do exactly the opposite of what I should do I turned my board sideways to land on my feet.

Well you’re supposed to keep your board straight so that when you hit Boom! Your board just continues like straight down the mountain well when you turn it sideways Boom! Your edge catches and it’s like Boom! Your head just smacks the ground.  So that’s exactly what happened to me I turn sideways try to land like you are in normal jump and boom!  My face smacks the ground and so I cannot like I’m stunned, my head hit the ground so hard and my goggles are cracked. And all of a sudden I’m on my knees right on the mountain can’t see shit and blood is just starting to pour down my face hitting the  the snow.  I don’t know I’m like kind of disoriented I take off my gloves so I can just wipe in the blood off my face right so I can get it out my eyes so I can see.  And this other guy his coming down mountain right behind me and he stops and said, Oh shit!  I knew it wasn’t good I knew when he said that it was not good. So he said man can I help you?   I’m like yeah I just need to know like where this cut is like how bad is it so I can figure out how to get down this mountain and get in to the medic. And so his like yeah here it is you’re definitely cut its right here by your eye. So I have stayed and like 2 minutes just wiping the blood so like it could just clear off the blood off my face so I’m just wiping on my bare hand I don’t have anything else.

So I get to the bottom of the mountain where my boys and friends are all waiting for me.  What the heck happened to dad and they see me like WHoooaaa Dad! Oh my God! They’re like freaking out so this lady runs up to me she hears the commotion and she’s like ok ok sir what’s your name?  What’s your name sir?  And I’m like ok it’s cool I’m fine and it’s you know I’m like I’m woozy, I just hit my head super hard I got blood down in my face but everything is great everything is fine. So they take me over to the medic they’re like yeah you need stitches you got this huge like hole on your face.   I don’t want to leave I want to go back up, I came here to ski.  So I keep my boots on I drive over in the blizzard over to the ER and they didn’t do shit they like yeah we can’t do stitches at all, it would stretch your face.  So I go back and go to the mountain and ski with my kids 3 runs and I just wanted to be like yeah I’m a man right I’m a man you can’t stop me I don’t care I just pretty much got a concussion and cut my face.

I’m going back up so I did a few runs and then then I didn’t want to do it anymore because I didn’t feel good. So anyways what does that have to do with this podcast it really doesn’t have anything to do with anything about what I want to talk about today.  The only thing is maybe how I could relate to this that after like every time I go to do a video filming,  I don’t know how to put make up on it and like it’s not so like a big red blanche on the ripped up my eye or do I not. I mean that’s pretty much the only thing I can say as far as what it is have to do with the show.  Remember that you’ll never know what’s going to happen to you like I thought everything was going great it’s going to be a great night and then Baam! It was good until it wasn’t right.  And that’s what’s going to happen to you in your wealth building journey, everything’s going great until it doesn’t.   And you’re going to have to be able to navigate through those types of ups and downs but if you have proper asset allocation you’re diversified in to multiple different asset classes then when something doesn’t go well it’s typically not going to affect every asset that you own. It usually going to be isolated to that specific asset class investment.

And so today what we were going to talk about were actually just wrapping up step 6 and 7.  So step 6 is we’re going to re-invest a portion of your savings and come back into well researched, hyper growth investments called asymmetric bets.  Remember that an asymmetric bet is risking a dollar or $10 to make $100 or a $1000 while a symmetric bet you’re risking a $100 for maybe $5 or $10 return. Symmetric investing is very important to your plan, it’s typically cash flow investing where you buy an asset for the income that kick off each month.  These are generally much safer consistent and steady, there certainly can be a loss of principle value but not as much of a risk they are not quite so volatile. You’re going to be taxed on the income from these investments which is considered passive income.

Passive income is taxed the same as ordinary income which is like income from a job or a commission, or short term flip on a property, or selling stock or crypto, anything under 12 months you’re going to pay ordinary income tax so that’s the highest tax that you can pay. In asymmetric bets you’re going for a large increase in value of the asset which is called appreciation of capital gains. The tax advantages of this are incredible providing you hold the asset longer than 12 months, it’s substantially lower than other income taxes and quite a bit lower than passive income tax.

Now there is also a way that were going to dive into on this platform where you never have to pay taxes on these assets and be able to utilize the increase in value to benefit your life. So how is it possible to not pay taxes yet still enjoy the spending of the asset?  So the key this is you never sell the asset you borrow against the value. You can actually borrow the equity back out of your assets giving you cash to enjoy, purchase more assets, and you continue holding them so you get to continue appreciation and avoid paying taxes.  Now a lot of people understand this concept because when they have a house that they own, they get a HELOC or home equity line of credit,  which is essentially you’re borrowing out of or against the asset that you own. Now the problem with this is that this is a liability that you’re creating a larger liability because your home is already your  biggest liability. So unless you use that HELOC to invest into cash flow producing assets, than you’re creating more liability on top of more liability I don’t recommend that to fund your lifestyle that’s dangerous that caused a lot of people back in 2008 to lose a lot because they were under water when housing values dropped.  So when they went to sell their home because they have better primary mortgage and then the other secondary mortgage with the HELOC then those 2 combine when the house drop in value now they’re under water right. Their asset is worth less than what they actually owe on it.  That’s a very dangerous place to be that you  don’t want to put yourself in that type of position.

So there’s not enough time to cover this strategy particularly borrowing against assets but we will dive into this in much more in depth.   I’m going to at least do a couple of podcasts on this particular subject because I do believe it is so essential to you building indestructible wealth.  So that’s essentially step 6 you’re going to, you got this all cash flow coming in from your step 5 investments, from your safe conservative income plays and you’re going to take a chunk of that and you’re going to pop that right back into this higher risk higher reward plays. So if they don’t work out it’s no problem you’re not risking your current lifestyle to create a better one, you’re not risking your principle value.   Your principle value keeps kicking off cash flow.  So if you invest that and it goes parabolic great, you just scored big and if it doesn’t work out then you’ll be ok your cash flow come in again the next month, and the next month and the next year and Boom! You can pick another swing for the fences.

Let’s talk about step 7 this step is really straight forward you’re going to repeat this plan until your wealthy always remember to get back generously and keep your ego in check.  Now here is what I think about money it’s not your money anyways.   Now how do we know it’s not yours and what do I mean. Well at some point it will all go away and be distributed to others wherever you decide you want your wealth to be distributed to it’s going to be distributed though we know that it’s inevitable.  So you’re just a temporary custodian of God’s money.  Your job is to make it by providing value to other human beings, keep it by controlling your strong desire and urges to spend it all, and grow it by following a strategic plan and making sound diversified investments.  And then enjoy it and parlay it into  an incredible quality of life.  Live an amazing life thats the reason why we’re investing and creating wealth we want to live a higher, better quality of life, full of incredible experiences and memories with those that you love.  With the ability to give back and bless others and be charitable.

But if you hoard it all and you let it get into your heart and you let it get to your ego then you’re not going to truly enjoy the greatest gift of all when it comes to money which is giving it and helping to serve other humans.  So I hope you found value in this 7 step strategic process.  If you would like help to implement this plan then I’d like to quickly tell you about the options you have to work directly with me. The 1st course is called the essential indestructible wealth. Now as of  this recording, these courses are are not fully developed and ready I have everything in terms of the outline structure and all that but I’m not ready to launch.

So and this is going to happen periodically throughout probably my entire platform where I’ll be taking a Wait List cause I’m not ready to start a new course.  Whatever the case,  maybe I want to update the content, maybe I want to make sure that they loaded up and full before I launch.    Maybe I’m personally going through something or maybe I’m going to be on vacation and travelling a lot so I don’t want to launch a course that I have to keep rescheduling. So this is going to be common.   

But this 1st course, Essential indestructible wealth this is designed for those that want more hands on implementation guidance.   Our primary focus in this course is to focus on the make more keep more buckets. Of course we’re going to start looking at setting up your investing plan and cover principles that growing your money but you just only have as many options quite yet. But this stage is critical to set a proper foundation so you can enjoy the massive compounding of your money down the road.  So it’s creating a solid foundation it’s a 5 week course on Zoom in a small group setting. We cap each group at 10 people and in addition you’re going to get a downloadable workbook you’re going to have a private group chat to ask questions and you get a private 30 minutes call with me to discuss anything you’d like.   If you look at my site the normal charges minimum $995 per hour call. So you’re going to get all that for less than that so it’s very economical because you’re in a small group setting so I can be coaching all of you at the very same.

So as of right now in this recording it’s $449 they probably will go up over time as demand continues to increase but as of right now that’s where we’re at.

With everything that I will personally teach please keep in mind I’m not a licensed financial adviser I’m a financial coach.  So I will not be able to sell you any licensed securities like stocks or bonds or any regulated financial products.  So all participants will be served on our first come first serve basis. So that basically means when course opens up and you’re on a wait list whoever gets their money in first they’re in. So we’re definitely going to cap this out at 10 for the time being so that we’re making sure that each of you are served and you have a chance to ask questions and be interactive.  Now in addition to this your course comes with a private chat so that you’re going to be able to ask questions in the chat in between calls and providing a sort of a value to the other participants that are in the mastermind group.

I truly hope that you got a ton of value out of my 7 step series I look forward to continue serving you we’re just getting started you guys. I’ve got tons of incredible content lined up ready to go for you so that you now that you have the basic strategic steps  it’s about implementation so I’m going to help you with that implementation and bringing on guests that have implemented the various steps that we’ve already outlined.  So I love to say good luck but we know building wealth is not about luck it’s about having strategic plan.  So definitely stay tuned buckle up things are going to continue to get more and more exciting as you start to build and compound your wealth and overtime  you’re going to see some exciting things happen.  So thank you so much and I’ll see you on the next podcast.

That’s a wrap for this episode on the Indestructible wealth podcast. Before we part ways, I want to help you to take advantage of two incredible tax saving strategies that could help you save a lot of money all you have to do is leave me a five star review if I’ve earned it and comment in iTunes, Stitcher, Or wherever you tune in. After you done that simple steps just email a screenshot of [email protected] and I’ll send you everything you need to save money on your taxes for years to come. If you like to dive deeper into your own wealth building strategy, check us out at myindestructiblewealth.com and follow along on my social media. Also, please share this podcast with anyone who’s looking for guidance on their own wealth building journey. Until next time, remember our mission here is to help you make, keep, and grow wealth you can enjoy now and for years to come.

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