Be Your Own Bank! Fund Your Own Laundromats!
Welcome to the Laundromat Resource podcast, where we provide valuable insights and resources to help you succeed in the laundromat industry. In today’s episode, we have a special guest joining us, MC Laubscher, who will be sharing his expertise on a fascinating concept called infinite banking.
You see, MC Laubscher had a revelation when he realized that the concept of borrowing against a pool of money that is earning a return could be applied not only to buying rental real estate, but also to the laundromat industry. And as someone who has been interested in introducing the concept of infinite banking to the industry for quite some time, MC is the perfect person to shed light on this topic.
In this episode, MC shares his personal experience of buying a laundromat that didn’t go as planned. But through listening to podcasts and educating himself, he discovered the power of infinite banking and how it can transform not only your finances but also your entire life. MC discusses the importance of taking control of your time, money, and relationships, and how being financially free and independent can open up a world of possibilities.
Join us as MC dives deep into the strategies and frameworks of successful individuals like the Kaffellers and shares practical advice on how to implement infinite banking on a smaller scale. He emphasizes the importance of building a larger portfolio, increasing cash flow and equity, and the impact that can have on your life and the lives of others.
We also explore the risks of relying solely on traditional retirement strategies and how infinite banking can provide a tax-free backup plan for the later stages of your life. MC breaks down the cash flow management system and its potential to revolutionize the way you handle your personal and business finances.
So, if you’re ready to learn how to reclaim the banking function within your own life and create a legacy of financial freedom for future generations, this episode is for you. Get ready to be inspired and empowered as we dive into the world of infinite banking with MC Laubscher. Let’s get started!
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Jordan Berry [00:00:00]:
Hey. Hey. What’s up, guys? It’s Jordan with the LenderMed Resource Podcast. This is show 132, and I’m pumped you’re here today because today is an incredible episode that, it’s totally different than what we normally do around here, but it is awesome. So I have been fascinated by the concept of infinite banking for a long time now, a few years. And, I I was starting to kinda get a grasp of what it is and how it could work. And I Gord, for me, what is a dream guest on the episode. His name is M.
Jordan Berry [00:00:38]:
C. Lobscher. He hosts the Cash Flow Ninja podcast, which is a podcast I’ve been listening to probably for 7 or 8 years. And he is the guy to talk to when it comes to infinite banking. But you may be familiar with infinite banking, or maybe not. And if you’re not, you’re in for a real treat. If you are, what’s awesome about this episode is that listen. We’re the law of my resource podcast.
Jordan Berry [00:01:03]:
So I made him. I forced him. I twisted his arm. No. Not really. To contextualize this for how specifically, the infinite baking concept can help laundromat owners, and it is credible. Just a super informative episode. He drops a ton of wisdom, here.
Jordan Berry [00:01:27]:
And not only that. He’s just a good dude. So a really great episode, one of my favorites. And in fact, at the very end of it, we break down what a family office is and, how, actually, anybody can get started, with a family office with no money. There are he he outlines 5 steps of of what it takes to create a family office, and I think the first 2 or 3 of them, you don’t need any money to get started. So it’s something we all should be doing. It was I took copious amounts of notes. They’re all right here.
Jordan Berry [00:02:03]:
Super good episode. So, anyways, I don’t wanna hype it up too much, because I want you to hype yourself up when you’re listening to it. So gonna get into it with MC Lobster here in a second, host of Cash Flow Ninja. Check out check out his podcast, while you’re at it. And, before we do, real quick, I wanna just say a couple quick things. Number 1 is we had our 1st ever LA meetup live and in person a couple of Saturdays ago, and it was awesome. Awesome. Thank you for everybody who showed up.
Jordan Berry [00:02:35]:
It was a great turnout. And Andrew Cunningham and I put that together, and it was a lot of fun. We saw some, very familiar faces. Ross Dodds was there. Other there it was great. So good and so good much so that we’re gonna be doing more of these meetups, and we’re gonna be doing them in more markets. So stay tuned, for that because I’m looking forward to traveling around a little bit and, partnering with some of you guys, hopefully, in different markets to host some meetups. So if you’re interested in cohosting a meetup with me in your market, shoot me an email, jor[email protected], and, let’s get working on that.
Jordan Berry [00:03:17]:
Because I think it’s so important for us to get together as an industry. I just I watched a lot of magic happen in that room, as we got together. And that meetup, again, that was for current laundromat owners and people trying to get in the business. Just so cool to get in a room together and chat laundromats. So looking forward to doing a lot of that all over the country. Anyways, huge shout out to Andrew Cunningham for doing that with me here in LA. And, again, if you’re interested in doing that with me in another market, shoot me an email at [email protected], and let’s see if we can make it happen. Let’s get together.
Jordan Berry [00:03:55]:
Alright. Awesome. There’s so many things going on right now, but, I am just gonna have to leave it for another day because I wanna jump into it with MC. Keep an eye on your emails going out because there’s a lot of stuff going on right now. And, if you’re on that email list, just be looking out for emails because, you’re not gonna wanna miss stuff that’s happening right now. Good stuff. Good stuff. Alright.
Jordan Berry [00:04:18]:
Let’s jump into it with MC Lobster, and let’s talk about how we can not only build wealth through owning laundromats, but do it in a way that sets our families up, long term and that helps us build that wealth faster in the now term. Alright. Let’s jump into it with MC Lobster, host of Cash Flow Ninja, right now. MC sea lobster. I cannot believe listen, man. This is a a little unreal for me, because I’ve known about you, before I knew even about cash flow, really. And, you know, host of the, the Cash Flow Ninja podcast, obviously, long going. Really, really awesome show.
Jordan Berry [00:04:59]:
So if anybody’s out there listening to this podcast, go subscribe to that one because that one has got a lot of really good stuff. But anyways, thank you for coming on the show. Super excited to chat with you about how we can help these listeners grow their wealth exponentially quicker. Thanks for coming on.
MC Laubscher [00:05:15]:
Awesome. Thank you so much for having me. I’ve been looking forward to this.
Jordan Berry [00:05:19]:
Yeah. Well, it’s something that, I’ve been, you know, eyeballing for a long time and have been wanting to sorta introduce to this industry. I know some people are familiar with it. But for those who aren’t, familiar with sorta with this infinite banking concept, I wanted to kinda go through and and, you know, it’s sort of a a little bit of a dream here to have you here, explaining it because that’s I’m pretty sure that was my 1st introduction, was on your podcast to infinite banking concept. But real quick, I just wanna paint a picture for everybody. When I bought my 1st laundromat, most people who listen to this podcast know that that did not go well for me. And, you know, as I was trying to figure out how to do things, I was spending a lot of nights, like, overnight, after we closed down, working on the place, and I started listening to podcasts. And one of the first ones I started listening to was yours, the cash flow ninja podcast.
Jordan Berry [00:06:13]:
So I’ve got a lot of great memories of well, I don’t know how great they were on the one hand where I was, like, trying to fix up my laundromat myself overnight. But I learned a lot during that time, and a a huge thank you to you because a lot of that learning came you and your podcast. So appreciate that. Let’s start here. What is what is infinite banking? What is it, and can you just kinda give us a a quick overview of what the concept even is?
MC Laubscher [00:06:41]:
Yeah. So I think the best way to plain it, is it’s a cash flow management system, and it’s a cash flow management system where you are reclaiming the banking function within your own personal business and investing economy. Now if you look at, the world. And and and, by the way, this story was shared to me by, one of my main tourist delight, mister r Nelson Nash, and he talked he talked about, this, you know, this huge pool of of of water that that is the planet. You know, if you look if you just zoom out And you see the world, the spinning ball of dirt that we’re operating on. There’s a lot of water, and there’s a ton of oceans, and all the oceans are connected to one another. And then there’s rivers that goes into the land, and the rivers are connected to the oceans. And then you, of course, have underground water too.
MC Laubscher [00:07:32]:
And then the Earth gets hotter. It gets warmer. It, there’s condensation that that forms. There’s clouds. It builds up. It becomes too heavy, and then the clouds start to break and it rains, and the water comes back to the Earth. And where does the water go? Well, it comes back to this giant pool of water. It goes into the oceans, which are connected to to the rivers, which are connected to the oceans, and then, you know, it falls onto the ground, which goes into the underground water, which is connected to the rivers, which is connected to the oceans.
MC Laubscher [00:08:05]:
It’s 1 big giant pool of water. Now what does this have to do with cash flow management? If you look at the commercial banking system, it’s the exact same thing. Banks have figured out a strategy by where they deploy capital constantly. They have this giant pool of of money, of capital, and the money leaves the banking system, but it always comes back. If you think about it, Every every loan that is issued, money leaves banks, but then it’s repaid. It always comes back into their giant pool of Money of capital. So they do it over and over. So the concept here is that money’s always leaving your personal, your business, In your investment economy, you can structure it through proper cash flow management that it’s always coming back, And you are the banker in this process that benefits from this this cash flow management system, and it helps you, to improve efficiency.
MC Laubscher [00:09:09]:
You know, I love cash flow, and I started out as an as a business owner and an investor. And I love creating cash flow in the business, creating profits, And I love creating cash flow and investments like the real estate. Right? Bought my 1st property what is it now? What is it? 2023. Bought it in two two thousand and one, so over 2 decades ago, and I loved cash flow, but I was very focused not so much on the forest, but the tree. And then as I started to zoom out a little bit and I started to see the the forest And the trees inside of it, I started to realize, wow. You know, generating cash flow on my business is great. Generating cash flow on my investments, That that’s great too, but there’s a missing piece. I need a little bit better cash flow efficiency in my personal business and investing economy.
MC Laubscher [00:10:02]:
And when I started to do that, everything started to increase financially from a wealth standpoint. The businesses started growing quicker, and, of course, the investments started growing quicker too, And the system was up and running. So that’s kind of what infinite banking is conceptually. You know, everybody talks about becoming your own banker, and that’s actually the book that, Nelson Nash wrote, it’s a process. That’s why it’s not become become your bank or become a a banker. It’s becoming because it’s ongoing, and, yeah, you you need to you need to monitor it And, increase efficiencies constantly. So that’s kind of where infinite banking for, fits in and and and what it is.
Jordan Berry [00:10:46]:
Yeah, well, listen. I mean, you’re you’re speaking some magic words. Right? Because I think a lot of people in our industry or, you know, really in any industry or investment asset class. You know, wants to, number 1, have that cash flow to to have the freedom, right? That we’re all looking for and to, you know, to set up our lives the way we want to and to spend our time how we want to, whatever that might look like for for anybody in particular. But when, you know, when you start talking about this efficiency that’s helping your business and investments grow exponentially or even just quicker. That that is what gets ears purging. Right? And so, you know, for me, when I started hearing this concept, I’m like, yes. This is awesome.
Jordan Berry [00:11:32]:
And, you know, I understood sort of the basic concept of you have this pool of money that’s, you know, getting a return, and then you can borrow against it while it continues to get a return, which we’ll get into a little bit more of the details of what that actually looks like here in a second. And then utilize those you know, the funds that you borrow against to you know, the context I first was introduced to it. It was to buy rental real estate. Right? And so you’ve got some cash flow coming in from the real estate. You’ve got your cash still working here, and you’ve got this loan that you’ve basically taken from yourself essentially, and are using, you know, your your cash flow to sort of pay that back. Right? So and then, you know, it sort of dawned on me one day it it never crossed my mind. Dawned on me one day, like, why can’t you do that with laundromats? And because that’s the industry I’m in. Right? And, and, you know, we we had a conversation.
Jordan Berry [00:12:27]:
You’re like, you totally can, and it can work really well. So I wanna get to actually contextualizing, that also. But let’s I mean, can we can we jump into a little bit of the weeds? We don’t have to go too far down the rabbit hole, but a little bit of the weeds, like, okay. So I wanna have this cash flow efficiency. What do I what do I need to do actually to set this up
MC Laubscher [00:12:48]:
Jordan Berry [00:12:49]:
MC Laubscher [00:12:49]:
In the in the system, in in a framework, and I love frameworks because you can apply it in your life, regardless of where you are. Some folks might just beginning. Maybe they bought their 1st laundromat. Some folks might have 5 or 10. Some folks might have 20. Some folks might have 50. So that’s why I love frameworks. So the first framework is we all make our capital.
MC Laubscher [00:13:12]:
We create capital in some way, shape, or form. So whether it be in of a w two employee, whether it be as a self employed person, a business owner, or investor. And then we have to put it somewhere. We have to position capital somewhere, and then we have to deploy it. We either deploy it back into our businesses to generate more Cash flow from businesses. We’re, deployed in the laundromats, in real estate, and then, of course, we have to protect everything, And it’s done through tax strategy. It’s done through asset protection, and it’s done through proper estate planning. So where Infinite Banking fits in, I’ll get into exactly what it is and how we use it, and and how people in our network use it.
MC Laubscher [00:13:58]:
So So where infinite banking fits in is where you position this capital. Now you can position capital in a number of assets where you can purchase an asset or position capital in an asset where you can utilize that asset then as collateral to establish a credit line. So you can purchase an asset that can generate cash flow, appreciate in value, and also provide great tax benefits, And you could use a little bit of leverage, but you don’t have to sell that to extract capital from it. You could place it as collateral, And this is huge, of course, in the banking system. So, what I mean by that is if you’re a real estate investor, you’ve heard of a HELOC, a home equity line of credit. So when you wanna tap into an equity of a house, you don’t sell the house. You just get a HELOC, and now you have a credit line, a revolving credit line. You could do a cash out refi too.
MC Laubscher [00:14:51]:
I understand that, but let’s just use the HELOC as as a as an example. You could do the same thing with a struck stock brokerage account, by the way. It’s called asset based lending. And fun fact, That is how Elon Musk came up with a down payment to buy Twitter, which is now x. He placed a lot of his Tesla shares as collateral, and I’ve talked about Elon’s strategy for years now, key because he loves this. Why does he do that? Well, he doesn’t have to, number 1, sell his Tesla shares, and number 2, There’s no tax consequence. Because had he sold that, well, now there’s taxes. He doesn’t own it anymore.
MC Laubscher [00:15:29]:
He places it at collateral and get a a loan, a revolving credit line against that. You could do the same thing with gold, silver, and art. I’ve actually used gold and silver to establish a credit line. You could do the same thing with your business. If you have a business that has assets or equipment or receivables, You could place that as collateral to get a line of credit. What we use and utilize is life insurance a very, very specifically designed life insurance policies. These are life insurance policies that are designed with living benefits. This is what the ultra wealthy do, family offices, centimillionaires, multimillionaires.
MC Laubscher [00:16:13]:
This is what corporations do. So, anyway, so you design life insurance not just that somebody benefits when somebody else kicks the bucket. You design it that it becomes a place where you warehouse capital. So we, for example, use a dividend paying whole life insurance policy with a mutual insurance company. Mutual insurance companies are not listed on the stock exchanges. They are outside of the Wall Street Casino, which is very, very important because they manage the company on behalf of their policyholders. So they are. They’re shareholders.
MC Laubscher [00:16:49]:
So we use mutual insurance companies. We set up these insurance policies, which is designed, by the way, For for cash value, for your savings. The it does have a death benefit, but that’s not the primary objective here. The primary objective is Getting your money inside of these life insurance policies, and that’s where you warehouse capital, not banks. Trust me. You don’t you don’t that should not be a place where you’re warehousing large capital. At at the time of recording and what we’re seeing coming in the next 6 months, You definitely don’t wanna have a large sums of money in banks. We’ve already seen 5 fail.
MC Laubscher [00:17:26]:
10 has already been downgraded by Moody’s. 11’s on a watch list. There’s a lot of fun coming, in the in the next couple of months, but let’s just put that aside. The primary place where you warehouse your capital is these life insurance policies. Why? Well, the money in there is guaranteed. So the the savings that you have in there is guaranteed. It never goes down in value. It’s not tied to the stock market.
MC Laubscher [00:17:50]:
You also have guaranteed growth. So the growth every single year, your policies are tracturally guaranteed to grow. You also get dividends, which is kind of like profit, quote, unquote, profit sharing Because you are a shareholder through a policyholder in a mutual insurance company. So when they’re profitable, you get a dividend distribution. Some of these companies have been around since the mid 1800, and they’ve been profitable every single year since the mid 1800 and paid dividends every single year. So you get to benefit from that. So you’re earning about 3 to 4% in these policies, but it’s tax free. The growth and the dividends are tax free.
MC Laubscher [00:18:32]:
Now you have to obviously put up capital and take additional risk to get, you know, 8 to 9% out in the market pretax. So 3 to 4%, you get tax free. And, of course, the great thing about it is you can establish a line of credit, a life insurance line of credit, just like a HELOC against the cash value. Usually, it’s up to 95% of the cash value that you have, in the policy. There’s some ways that you could do a 102 that we that we’ve leveraged that in our network. But you set up a credit line, and then you can use that money to Buy more laundromats, buy more equipment, and so forth. Now why would I wanna set up a credit line to access the the cash? Well, number 1, It’s tax free. You access the money tax free.
MC Laubscher [00:19:19]:
Number 2, your money is now working in 2 different places simultaneously. So the money that’s inside of this life insurance policy keeps on growing. It is uninterrupted compound growth. So because you never actually touched the cash value. You have a line of credit secured by the cash value. So if you have $100,000, let’s just say, in this account and you get a take a loan for 50,000 to go and buy equipment for one of your laundromats, You still have a $100,000 in that account Yeah. Earning uninterrupted compound, growth, and then you get to use that 50 to go and buy equipment. And, of course, you can structure it where you obviously get the tax benefit from the equip equipment too for your business.
MC Laubscher [00:20:04]:
And maybe it is you know, you’ve added more machines, so there now is increased profit in your business. So there’s a lot of ways to creatively do this, but that’s that’s kind of at the core of the strategy. So we generate capital. We position it in these insurance contracts because, number 1, Now it’s in our own pool, our own little pool of money, our own pool of of of capital. It gets deployed in our business and investments, but it always comes back. And I’ll give you one quick example that we’ve actually used with equipment in our network, and you could definitely do this with with, laundromats. So one of our one of our clients at Producers Wealth, which is the insurance brokerage firm, which I found it, about almost a decade ago. It’s funny.
MC Laubscher [00:20:53]:
Time flies when you’re having fun. We service clients in all 50 states in the United States, but one of our clients so what he did was he set up these, the policies, and he set it up for his family. He took a policy loan from using a credit line. Right? So he set up this line of credit. It’s also called a policy loan. Took the capital. His money was still working in his contracts, Earning 3 to 4% uninterrupted compound growth. So then what he did was he created a note To his business because he was lending his business the money, and his business then took the loan and went to go buy equipment.
MC Laubscher [00:21:34]:
And because it was equipment, there you you got the depreciation, and you get the tax benefits and so forth, and the business is now repaying the note To him, at above the interest that he’s getting on on his, that he’s being charged on his credit line. Let’s just say it was 5% on his credit line from his business 10%, which could be written off taxes too. So number 1, there I mean, there’s so many ways. You gotta dissect this. Just think of in how many ways your money’s working here for you in this one example. So in this one example, Your money is in a life insurance policy that is growing uninterrupted 3 to 4% compound interest, tax free. Then you leverage it through a credit line, lend the money to the business. It’s a loan that has to be repaid.
MC Laubscher [00:22:26]:
The business bought equipment, got a tax, like, tax benefit from buying that equipment, and it’s gonna generate more money for that business. So there’s an there’s there’s some more capital at work there. The 2nd piece is the business is repaying the loan to the person that lent them the money and paying them back at an interest rate. So they’re paying 10%. Each credit line was at at 5%, and it’s simple interest. So there’s a profit there too. So this is what I talk about efficiency. There’s just so many ways here that, And and by the way, I forgot to also mention you they can deduct those payments for the equipment, right, the loan and the interest.
MC Laubscher [00:23:07]:
There’s so many ways that your capital is working here, And and it’s 1 pool of capital that we’re talking about. In this example, I just use a let’s just say it’s $100,000 that was put to work. Just think how many things that one pool of $100,000 was doing for this this client of ours, and that’s what I talk about efficiency. Could he could this client just have gotten a traditional loan or a line of credit at a bank and buy the equipment, you know, pay the bank back and still make money in the business? Sure. Of course. But now cash flow efficiency, he he’s the banker. His family’s the banker. He has now created this pool of capital, which he will deploy into the marketplace.
MC Laubscher [00:23:50]:
It’ll all come back, But and it’s at the same time, this one pool of capital, this example, a 100,000, is doing so many different jobs. I lost track of counting. I think it was, like, 3 or 4 or 5 right about there. Different things that it’s doing simultaneously. And by the way, I didn’t even throw that in. If something had to happen, There was a death benefit that kicks in for the client from a family continuity standpoint and a business continuity standpoint. You know? So we I I guess we could go on and on and on and on the many different things that this did, for that specific client, but that’s how you increase Efficiency. That’s now you’re generating cash flow on your business, your laundromat, and you’re cash flow efficient, Which frees up so many other things that you can do as well.
Jordan Berry [00:24:35]:
Yeah. I I mean, it’s just okay. You’re talking about all this stuff. Right? I I just, like the my level of excitement just kinda grows and grows and grows. Right? Because like you said, there’s that money is working in to pull ways. And, you know, as I have just, you know, spent a lot of time with people who are much more savvy than I, like yourself, when it comes to, you know, finances, cash flow, business, all those things. Right? I just see, how the people who are able to grow their wealth, you know, quicker than most people. They’re they’re utilizing multiple you know, they’re utilizing strategies that allow, money to work in multiple different ways.
Jordan Berry [00:25:16]:
Right? So utilizing other people’s money is great, and that’s actually, you know, my my initial was like, man, you’re not using OPM at this, you know, this thing. But, actually, you you are utilizing other people’s money in this. Right? That insurance company is loaning you money, and collateralizing your money, but it’s their money that you’re utilizing. Your money is still there, like you said, and still working. It’s still, you know, growing at that 3 to 4% interest rate there, and then you’re able to take that money from the insurance company that’s collateralized, which is different than utilizing your own money, and, and do all these things with it. And like you said, there’s all kinds of benefits of this, especially I love that you brought out the example of creating a note, you know, between your your money that you’re lending from your policy to your business, because, again, there’s a lot of tax advantages of, you know, doing something like that, whether it’s on the acquisition side of buying the business or that’s on, like, a retooling side where you’re you’re actually putting new equipment in there. And instead of utilizing a a bank or one of the, you know, in the industry, you can utilize your own funds if those are sitting there, and, like you said, grow it in multiple ways simultaneously, and you’re benefiting from ton of tax, tax benefits on top of it, which, you know, we all know or we all should know. If you don’t know, you’re about to know.
Jordan Berry [00:26:41]:
Taxes are really your biggest expense unless you’re act actively, you know, setting your business and your finances up in a way to where they’re not your biggest expense, which is what the wealthy people do.
MC Laubscher [00:26:54]:
Absolutely. And I I will, like, say there’s 2 things, 2 big lessons that I, you know, quotes that I’ve got written down and I look look at almost every day, and I butcher quotes, by the way. That’s that’s one of my side side hustles. But, it’s to the fact that Henry Ford had someone in his office, and Henry Ford said to them, don’t work too much or too hard and so much that you don’t have any time to get wealthy. And the employee looked at him completely bewildered or the person that was in his office. Like, what are you even talking about? Stop working too much or too hard so that I don’t have time to get wealthy. That always stuck with me. And the second thing was, And this came from a mentor of mine that said, everybody talks about how you should have your money be your money should work for you.
MC Laubscher [00:27:41]:
Right? Don’t work for money. You should work let your money work for you, and Robert Kiyosaki from Rich Dad Poor Dad, you know, really talks about that too. But the one thing is missing is if the objective is to deploy your capital and have your money be working for you, why wouldn’t you give it more than 1 job? Don’t let it be lazy. Don’t make it easy on your money. Let it do, like, 3, 4, 5, 6, 7, 8 jobs. And the other thing that I would also, share, and maybe this could be a third one, is money has to be positioned somewhere. Capital. Right? You we all need it.
MC Laubscher [00:28:20]:
You know? And I have gone through all the things. Cash is trash. There’s inflation. The dollar’s being devalued. I’ve said all those things myself. I understand that. You still you have to have capital somewhere as a business owner and investor. So where you position it should benefit you, not the banks, not Wall Street.
MC Laubscher [00:28:40]:
Put it in a place where you get to to benefit from it. And then one thing that I also wanted to share, A lot of business owners, and I see this all the time, their retirement, quote, unquote, strategy is exiting their business. That’s it. And I always say that, you know, the if you’re an employee and you’re working a 9 to 5 and so forth, nothing wrong with that. But most people in America and around the world, by the way, their retirement strategy is buy a house, pay off the house, and the rest put on qualified plans, like, four zero one k’s, four zero three b’s, IRAs, Roth IRAs. And then maybe as if there’s a little bit of capital, give it to, like, a financial adviser that’s a friend of the family or something, and that’s it. And if the the housing market blows up and the stock market blows up, you’re done. It happened in 2008, 2009.
MC Laubscher [00:29:34]:
There’s no plan b or backup plan. The same thing I I say to business owners. Business owners, their exit is, well, I’ll just sell my portfolio of businesses or laundromats or that’ll be my exit, And that’s my retirement, basically. What these policies do as well is you can structure it in a way doing all the things I just told you. But on the back end, you can actually pull out retirement funds tax free from these life insurance policies. So executive packages in Fortune 105 100 companies, they call it COLI corporate owned life insurance. This is what this is. A lot of CEOs, you don’t recruit a a a top operating CEO.
MC Laubscher [00:30:24]:
You don’t recruit them with a salary and a four zero one k. Okay? That that doesn’t happen. You know? The the Sam Zells, or he’s a founder, but the people working for him and running his business and, Jeffrey Immelt with GE and so forth, like, those guys weren’t recruited saying, hey. Come and work for us. We’ll give you a good salary and a bonus and a four zero one k. No. How you recruit those guys is you give them stock Options and access to load up on more stock every year and life insurance. Why? Because the life insurance gives them a tax free retirement, A certain amount which they negotiate upfront.
MC Laubscher [00:31:01]:
And then, of course, the stock, that’s really where they’re swinging for the fences because of those CEOs can increase the value of the companies, Then the stock goes up and they make more money. So how does what does it mean for you, listening, that’s buying laundromats and and, you know, getting a portfolio of laundromats together. When you have something like this, you have a backup plan, you have a plan b, Or an additional income stream tax free in on the back end, the back nine of your life. You know, I don’t plan on retiring, so I just call out it’s gonna be the back the back nine. Right? But if you need a if you need a a income stream tax free, well, this you have a plan b in place. And, obviously, the goal is never ever to touch it. It’s to leave a legacy. It’s part of, you know, the family banking strategy, which turns into the Rockefeller strategy, which we talk about quite a bit.
MC Laubscher [00:31:54]:
So the the plan is obviously not to do that on the back end, but it’s a plan b. So it gives you a lot of clarity. It gives you confidence. It gives you certainty so you can swing for the fences now and build out your businesses and grow your portfolio of laundromats. And you know that you’ve got a a nice cushion just by positioning capital effectively.
Jordan Berry [00:32:19]:
Yeah. I love I mean, so much good stuff in that. I mean, you know, go real quick. I I mean, I wanted to swing back by one of the quotes that you, probably butchered that I’ll butcher your quoting that butchered quote. You know, but, essentially, like, you know, hey. Don’t don’t be so busy, working that you don’t have time, you know, to get wealthy. And, I I just wanna mention this for anybody listening. Like, I I hear this mindset all the time.
Jordan Berry [00:32:45]:
I I’ve experienced it myself, you know, where I get wrapped up in what I’m doing. Right? And you get into these grooves in life where you’re like, okay. Life’s not that bad. You know? It can be I I can do this. Right? And so you just keep doing the same things over and over and over again, and you forget there’s a whole lot more out there for you if you want it and you wanna go get it. Right? And one of the one of the best things about not having to worry about money, like being financially free, being financially independent. Right? Having your expenses covered whether you stop working or keep working or whatever is not the fact that you can go sit on the beach and drink mai tais. Right? Like, that’s the dream that’s sold.
Jordan Berry [00:33:28]:
Right? And that’s great. And I listen. I’m a beach bum. We go to the beach once a week here, at least. Right? And so I love the beach. However, that gets old. Right? That does get old, at least doing that every single day, and that’s all you do. Right? But one of the best things that being financially independent can give you is having space to think beyond what you can when you’re in that normal everyday grind.
Jordan Berry [00:33:55]:
You’re doing your 9 to 5. You’re worrying about paying the bills you’re worrying about. I mean, this is why I’m so passionate about helping people achieve that financial freedom. Happens to be a vehicle of laundromats because that’s what I know. I really don’t care what the vehicle is. Right? I really don’t for you. I don’t care what the vehicle is. I think lawn mats are a great vehicle to get to that financial freedom number quicker than most other vehicles.
Jordan Berry [00:34:21]:
However, whatever the vehicle is, you’ve gotta get there not so you can sit on the beach. Maybe so you can sit on the beach for a little bit and enjoy that and just relax because you work so hard, but also so you can have that space to dream about this bigger life. Right? Because, you know, not only, you know, can you take a strategy like this and, you know, build a bigger pro portfolio and grab more cash flow and and build, you know, equity. But then you can go around and you can start saying, hey. Look at I have all this access to capital. I have all this equity. I have all I have this, you know, insurance policy. What more can I do to actually help other people? What more can I do to impact this life? What more can I do to set my future generations up? Like, your your mind starts to open up on things that you didn’t have space for, beforehand.
Jordan Berry [00:35:12]:
And so, I I mean, I love that you brought up that quote. I mean, so much of everything pretty much everything you’re saying is just jazzing me. I’m just getting, like, very excited right now, and I should probably just calm it down, a little bit because everybody on YouTube tells me I talk too much, which is probably true. But I I I mean, I love that you said that, because I think there’s just so much more out there if you can create a little space. You just need a little at first. Right? Create a little space to work on building your wealth, right, in small ways. And then those that space can grow over time to where you get to a point where you don’t actually need to do a whole lot of work to pay all your bills, and now the options open up for you. I’m gonna pause in case you wanna comment on that, and then I’ve got some more questions for
MC Laubscher [00:35:56]:
you. Absolutely. I just to touch on what you shared, Freedom means different things to different people, but, you know, I like to think of Dan Sullivan’s The definition where he talks about freedom of time, freedom of money, freedom of, relationships, and then freedom of purpose. And Dan Sullivan is the founder of strategic coach. He sums it up really, really well. Because if you look at those 4 freedoms, you know, you look at the freedom of time, you control your time, freedom of money. Money no longer becomes a reason why and why you’re not doing something. And then because of that, you get to do the things that you’re passionate about and that fuels you with the people that you wanna do it with.
MC Laubscher [00:36:42]:
You can get picky. You don’t you know? You don’t have to work with someone or have a relationship just because you you basically need it. No. You’re free, so you work And do the things and spend the time with people that you want to and then, obviously, purpose. When you have that when you Have you you have control over your time, control over your money, you have control over the relationships, who and, who you spend time with, Then you could really, really nail into your purpose, and, I think that’s when you really start to get a multiplier effect. And that’s why people I think the first thing, you know and everybody, if they get started, is just to get financially free and and and independent. Like, have your income that you generate from, in this case, the laundry match. Just let that let that cover your your expenses.
MC Laubscher [00:37:37]:
And now because of that, your living expenses are basically covered. The nut’s covered, you know, if you’re a squirrel. That’s really when you’re gonna see a multi really see a multi apply our effect.
Jordan Berry [00:37:52]:
Yeah. Awesome. Okay. Alright. I wanna get us back on on track here. But I have I mean, this is a super important question. I bet a lot of people are chomping at the bit to ask this question or for, for you to answer this question. So you mentioned, earlier on, just sort of in passing, this is how a lot of decamillionaires, multimillionaires, uber wealthy.
Jordan Berry [00:38:14]:
This is a strategy they utilize. I know a lot of people listening right here will be that at some point, but aren’t there yet. So, I mean, who who is this strategy good for? Do I need to be a a multimillionaire? Do I need to be a decamillionaire, to utilize this strategy. Who’s it good for? Who’s it not good for?
MC Laubscher [00:38:35]:
Yeah. So that’s a great question. So the first thing is this is not a get rich quick. There’s no this is there’s no magic bullets. So, it’s a life insurance policy. So there’s a portion that goes towards the insurance, and then there’s a portion that goes towards the savings. And if I have to generalize it because we’ve got such a broad audience, people from all ages. You could start in your twenties.
MC Laubscher [00:38:59]:
That would be great. You don’t have a lot of resources yet or high income, but you have a lot of time. Thirties, great great time. Forties, great time. Fifties, sixties. We’ve done a ton of, stuff for folks even in the late sixties. You have a lot of resources, A lot of income at that stage. Not as much time as a 20 year old.
MC Laubscher [00:39:19]:
There are strategies for everyone when it comes to the the the regardless the age that you’re at. So number 2 is the mindset. This is something that you’re going to do as part of a holistic strategy. Alright. So we we’ve, we’ve covered the age. You know, there’s different strategies for everyone, regardless of what age you’re at. The second thing is mindset. This is something that you’re going to do within your strategy already.
MC Laubscher [00:39:48]:
So it’s going to be something that you want to do, you know for the rest of your life. Because it’s part of your holistic wealth strategy. The same thing as you want real estate that pays you for the rest of your life. So, there’s no, you know, people that think short term and are only interested in short term profits, quick hits, magic bullets. Get rich quick. And that this is not for you. The third thing from an income level is what I would recommend is you have to have at least $10,000 to allocate to, these policies. Because as I mentioned, There’s a portion that goes towards life insurance and a portion that goes towards the savings, element.
MC Laubscher [00:40:28]:
And again, broad audience, Wide audience, but about 30% goes to the towards the insurance and 70% of the premiums goes towards the cash value. And of course, if you’re younger, There’s a difference, a scale. If you’re older, there’s a different scale. And of course, what life insurance, underwriting writing you will get, there’s a different scale too. So I would say at least $10,000. This is a, this is an advanced strategy And and and level strategy. So you have to have your ducks in a row too. Folks that have a lot of debt, that Have their personal finances is a mess.
MC Laubscher [00:41:06]:
I would recommend you straighten that out first, get your house in order before you add this element to that. It is an advanced strategy, but you can do it yourself too. My philosophy has always been, you don’t need to be a Rockefeller to do what the Kaffellers do. You can see their frameworks and their strategies, and utilize their frameworks, And implement and execute some of the strategies which they do on a smaller scale obviously, and it’s still gonna move the needle a lot for you. That’s how I started. I started like 14 years ago with this. And I started, and I just, you know, grew my strategy To eventually now, you know, 14 years later, married with kids. We have our own family bank, and we’ve become the primary, the prime primary vehicle, you know, for financing the things and activities that we’re in, whether it’s businesses or investments.
MC Laubscher [00:42:02]:
But, yeah, there’s strategies for everyone, but you have to have the right mindset. You have to have your ducks in a row, And then, you know, at least $10,000, I would say, to start per year, for it to make sense because you do have that insurance component, in the policy as As well as the savings element.
Jordan Berry [00:42:22]:
Yeah. Well, I mean, actually, I mean, $10,000 per year, that’s not chump change for most people, right, out there. But it’s actually a lot less than I was expecting you to say, actually. Now, obviously, you know, in our industry, if you’re putting $10,000 in, it’s gonna be a little while before you can go out and buy all new equipment for your store because, you know, we’re our equipment’s not cheap. However, listen. What we talked about is starting to create a little bit of space. Like, you can’t. Some people you’re there.
Jordan Berry [00:42:54]:
Like, you can you can fund this thing, right up front and put that money in there, get it working for you, and then you’re off to the races. Right? Some of you guys I know are already there, and can do that. Others of you are not there yet. Right? And others of you, that $10,000 a year seems like an overwhelming amount to put in there. And that’s okay. Like, I I don’t want anybody to feel like, you know, that they they can’t grow their wealth, because, listen, this whole thing is a process for all of us. Right? And if, you know, if MC had talked to me, you know, a decade ago when I had just bought my laundromat and I was losing a couple grand a month in my laundromat and, this would have felt so discouraging me. So I don’t want anybody to feel discouraged because this is all this is all part of the process.
Jordan Berry [00:43:44]:
Right? And the process is we start wherever we’re at now. Right? And, you know, some of you guys are at a place where you’re in a lot of debt, and you need to get your personal finances in order. And so let’s let’s start taking the steps to get there. Some of you guys maybe don’t have a lot of debt, but you just also don’t have a lot of money or you don’t have exposed, disposable income, to put 10,000. No problem. But let’s work on, you know, increasing your income yearly and getting to that point where you can start, you know, utilizing a strategy like this. Right? And then like I said, some of you guys are already there. You’ve got a pool of money.
Jordan Berry [00:44:19]:
It’s sitting in the bank, and you’re starting to think, yeah. Man, why don’t I become my own bank? I look at all the, you know, all the wealthy people around, and a lot of those guys are they own banks. Right? Like, why don’t I own my own bank and become that wealthy guy or gal, who owns a bank and, and and do that myself. Right? So no matter where you’re at on that spectrum, you know, maybe you’re not at that point yet where you’re ready to do this. That’s okay. But let’s reverse engineer it. Right? So if you’re like, okay. I I wanna get at least $101,000 a year of extra income.
Jordan Berry [00:44:51]:
Let’s reverse engineer it, take where you wanna be, and work backwards to where you are, and figure out the steps you need to take to get there. So yeah. That’s awesome, man. Thank you for sharing. You know, I know it varies depending on all these different variables, but thanks for giving us sort of a guide or a benchmark, to to work with, you know, that 10,000 Yeah.
MC Laubscher [00:45:08]:
No. And I I love what you just said about starting where you’re at. And I have that same philosophy, and I tell folks Said over and over. You start where you’re at. If you need to get your ducks in a row, get your ducks in a row first. You know, one of the things that That obviously we encourage is that the whole principle from the Richest Man in Babylon, by George S. Clayson of paying yourself first, you know, at least 10% of your gross income. Put that away.
MC Laubscher [00:45:35]:
Make that then a goal. So if you’re not there yet, focus on putting 10% away first Of your gross income and paying yourself first. That’s investing in your future and paying your future self. Right? And if you’re at 10%, push yourself to 25%. A lot of these, companies will allow you to put up to 20, 25 Percent of your gross income into policies. So if you’re putting away 10%, let’s push to get 25%. And what we’ve seen with clients. Once they become cashflow efficient, the next thing you know is they’re putting away 50% of their income.
MC Laubscher [00:46:12]:
Because their income has grown and their expenses have gone down. I’ll give you an example. Another thing with cash flow efficiency where this ties in. If you have a pool of capital, And you have these policies that are funded. And you have a minimum of 6 months capital at all times in these policies, which we recommend. It’s kind of like an emergency fund too. If you have that in place, you can look at, increasing efficiency in other areas. For example, raising deductible on other insurances.
MC Laubscher [00:46:42]:
If you have 6 months of living expenses tucked away and you have it at all times, You can raise deductibles on property and casualty policies. You can raise deductibles on medical policies. You can raise deductibles on disability policies. And for most people that frees up 1,000 of dollars per year. And as in my own, my own economy, And I’ve seen it with clients too, where all of a sudden they just freed up 1,000 of dollars now. If the worst case scenario happens, and let’s just say for example, There’s a medical emergency. Well, they can, they can grab, capital from their banking system to pay the high deductible. But in the meantime, if nothing happens, all of that money is then recaptured.
MC Laubscher [00:47:26]:
And where can you put it? Well, you can put it back in your banking system. It’s kind of a snowball effect of efficiency inside of your own banking system. So, yeah, there’s a lot of ways that you can get creative with this. But, to your point, just start where you’re at, get your ducks in a row, push to get 10% put away of your, of your gross income. And then if you’re a 10, go to 25. And then, I mean, the fun starts, you build that snowball, you’ll get to put away 50% of your income very, very quickly. You have to have a plan for this by the way, too. Just, you know, everything is intentional.
MC Laubscher [00:48:02]:
If you don’t have a plan, You will fall victim to Parkinson’s Law. So Parkinson’s Law is going to get you. And that law dictates that the more you make, the more you Spend. Everybody can relate to this. Everybody has been punished by Parkinson’s Law at some stage. I have. So yeah. So, you you have to be intentional, and you have to have a plan.
MC Laubscher [00:48:29]:
Jordan Berry [00:48:29]:
And that’s, I mean, listen. You’re saying, you know, oh, you can save, you know, 10%, then you can save 25, then 50%. And I know a lot of people are probably having, like, a physical reaction to that. Like, there’s no way I can ever get there and do that right. But like you said, listen. The world is bigger than than we ever thought. Money is money is infinite. Right? Like, we can just print as much of it as we want now.
Jordan Berry [00:48:54]:
We’re starting to see some repercussions to doing that with other countries starting to say, hey. What’s going on here? But as of right now, this this money’s infinite. It’s not backed by goals. It’s not backed by anything. It’s infinite. It’s all out there. Right? And, you you can attract that money, there. But like you said, that that Parkinson’s law is real.
Jordan Berry [00:49:13]:
It’s real with our time. It’s real with our money. That Parkinson’s law is real, and you’ve gotta have a plan, number 1, on how you spend your time. Right? And we already talked about creating a little space to get wealthy. Well, here’s the thing is that if you don’t have a plan on when you’re gonna spend that time to work towards getting wealthy, whether that’s educating yourself, networking, actually doing some work. Guess what? That time’s gonna get filled up by scrolling on Instagram, you know, listening to our podcast, which is great and everybody should be doing, but you’ve gotta take action on these things. Right? So you’ve gotta, you know, get that time. And then, you know, like you said with that money, you’ve gotta guard some of that money, like your life depends on it, to not spend it.
Jordan Berry [00:50:00]:
Put it in a different bank account, in a different bank if you had I we do that. We have money that we do not, you know, we do not touch, and it’s somewhere else other than when our normal money goes. Right? And now, hopefully, not for very long, it’s gonna be in a different bank, in a different bank account. It’s gonna be your bank, in your bank account. You know, but whatever the case, right, like, you’ve gotta create that space both with time and money to be able to do that. And once you do that and you start putting that time, that time that you’re guarding with your life. Once you start putting that time aside and that money aside and then you start deploying it to help you just slowly build your wealth, you said, you’re gonna work to that point where you can save 25, 50 plus percent. I’ve got plenty of friends.
Jordan Berry [00:50:48]:
I’m not quite there yet, but I’ve got plenty of friends who save, you know, who’s who set aside 90 to 95% of their income, and they live off of that 5 to 10%. And that is seems overwhelming, but that is doable. You can get there, but you’ve gotta be disciplined.
MC Laubscher [00:51:04]:
I agree with you. That’s in our network, that’s where folks end up. I wasn’t even gonna go there, but, yeah, they end up at like 90 90%. Get just get swept in back into the system. Because the more velocity you create in your own economy too, the more you have to deploy capital too. That’s the fun, actually the fun thing. Most people complain about the US tax code. The funny thing is it actually, forces you to deploy capital into certain areas where your wealth will grow and you generate more cashflow.
MC Laubscher [00:51:42]:
And it punishes you if you just hold on to that or go and buy, you know, cars, boats, big houses. And I understand, You know, there’s ways to do that tax efficiently too. But for the most part, if you just, if you just increase your income significantly And fall victim to Parkinson’s Law, and now your boats and you know, all this kind of stuff that are kind of like, I think Robert Kaysaki calls it doodads. You spending all your money on that, you get punished. But you deploy that into assets that benefit other people, like housing Or energy. Well, now you get tax benefits. You’re increasing your cash flow and your overall net worth, grows. So it forces folks, you know, when you have that velocity going to keep deploying capital.
MC Laubscher [00:52:31]:
So yeah. I mean, that’s where everybody That’s listening to this, should should have a goal of ending up, but start small, start where you’re at, and, you know, that’s That’s the summit that you’re working towards.
Jordan Berry [00:52:43]:
Yeah. I love that. Before we wrap this thing up, and I’m gonna I’m gonna give you an opportunity to tell people how to connect with you. Before that, can we can we can can you just indulge me here a little bit? I know a lot of people aren’t here at this point, yeah, and a lot of people probably have never even thought of this, but this is something I’ve been thinking more and more about. And I think that this, infinite baking concept could fit in really well, with it. And it’s sort of that that generational wealth, right, and that generational, you know, helping helping set up finances in a way that will not just give, like, your kids and your grandkids huge lump sums of money, and maybe there’s ways to incorporate trust into this. Right? But really setting your family up, and and there’s an education piece of this. Right? But really trying to set up future generations to, number 1, understand money and how it works and how it flows and how to properly properly utilize it, then also having a system in place to help fund businesses for family members down the line and to help fund education, you you know, whether that’s formal or informal education, in ways like that, and being able to utilize funds from the family bank, in order to, you know, help set up future generations to be able to, you know, also create value for the world and be compensated for that.
MC Laubscher [00:54:09]:
What you wanna give future generations is opportunity, not money. And there’s a way to set this up and do this. If you look at what they do in family offices, And the fa a family office is like a private wealth management firm for an ultra wealthy family. So families that have like $50,000,000, of net worth and up. You know, it’s very common for families that have $100,000,000 and up that they I plug into a family office model, but that’s what a family, office, is, and it’s based on the Rockefeller, family office model. If you look at the the areas of a family office, and I’ll share with you the framework that we use, and we We help, teach and, our clients the same thing. We have, you know, courses for them and that kind of stuff on it, but there’s 5 areas. So the first part is, The legacy documents.
MC Laubscher [00:55:04]:
And it’s funny that these family offices, and again, none of this stuff costs, costs you money yet. Some of it will do, but Let me just explain quick. Fa family legacy documents. So just as the United States have a declaration of independence, why we created this country, The family has 1, a statement of purpose. Just like the United States has a constitution, these are the principles and it’s the guiding, basically the guide guidelines of how to operate and function as a country. A family has one. So you can create that too, and we have materials and so 4th of our, that help our clients create their own statement of purpose and their family constitution and legacy videos. If you have messages and lessons that you’ve learned, you can record them on video now.
MC Laubscher [00:55:52]:
It’s so easy. And you can build up a wealth library Of lessons that you’ve learned for your children, your grandchildren, your great grandchildren. That’s the 1st piece is your legacy documents and the legacy piece. The 2nd piece is the family retreat. And that’s based based on the Rothschilds. The Rothschild family is a banking family in Europe. They have Five sons that were sent to different cities all across Europe, and they would get together every single year for a family retreat, Sharing best practices like a family mastermind. And this strengthens the bonds in the family.
MC Laubscher [00:56:28]:
They review the statement of purpose, the family constitution, who we are, what we stand for, where we’re going as a family. All very, very important stuff. Then the, the 3rd piece is the, legal infrastructure, which could be set up with trusts. You can set up trust where you owe nothing but control everything. And within these trusts, you create opportunity for future family members. You don’t create trust fund babies. So that’s very important too. The 4th piece is the family bank, and the family bank is what I just shared.
MC Laubscher [00:57:03]:
We take these infinite banking policies and all of the family members have these policies on themselves. If you’re just a young family starting out and you’re the person setting this up for your family, you would have policies on yourself, your wife, and like to say, you have 2 kids, you have policies on them and you maximize the life insurance on them. And of course, when the parents then eventually, well when the children have their children and the parents then pause, there is a massive deposit made into that family bank, Which then more policies is set up on family members. So the the the money stays together. It’s never divvied up. And it stays in that family bank. And it that family bank is structured, as you mentioned, to provide opportunity, Not just money for family members. So they can apply for a loan from the family bank instead of going to a bank and repay that loan To the family bank.
MC Laubscher [00:57:57]:
So you can create a whole system. And then the final piece is just the asset management part of it. And that’s, of course, you know, what what What the family invests in, whether it’s businesses, the businesses that they’re in real estate, you know, and of course equities, if it is equities, commodities, You know, laundromat portfolios, you know, and so forth. But that’s the kind of the 5 piece, and that brings it all nicely together. You can have a family office structure like this, and you can build it in build it out yourself as you’re working towards increasing your net worth. And be and and eventually, you know, with the intention of becoming, you know, tension of becoming, you know, a family with an 8 or a 9 figure nape worth. Right? But you start where you’re at, same thing. And you could set these things up.
MC Laubscher [00:58:45]:
Like I mentioned, the first 2 things, by the way, that I mentioned, the legacy piece of it, which is the documents and the library And the family retreats that, that doesn’t cost you any money. Well, if you travel somewhere for the family retreat, maybe, but the, yeah, the legacy piece and, the videos doesn’t cost any money. You’ve got the family retreat, which families go on vacation anyway. Then you’ve got the legal framework, Which yeah. You will need a lawyer to set that up that that’s qualified. A family bank, which you deposit capital into, these life insurance policies and then the the, asset management piece.
Jordan Berry [00:59:21]:
Yeah. And, you know, what’s interesting well, first of all, those those retreats can actually not tax advice, but can also be tax write off. They could be business expensive. So I’m just kinda pointing that out. But, yeah, I mean, those those first 2 you know, what’s interesting is everybody always wants to skip to the good stuff. Right? Like, the I wanna have the infinite bank, and I wanna have all that. Well, you can you can have all that, but if you don’t know what you’re gonna do with it, you’re not gonna be able to utilize it correctly, right, and and maximize the benefit of it. And you’ve already like, a ton of different ways, and I know there’s even more ways that you can utilize the system to, really create a lot of efficiencies with cash flow taxes, etcetera, generational wealth building, all that.
Jordan Berry [01:00:03]:
Like, there’s there’s a lot of things that you can do. Right? But if you don’t have sort of the framework going back to frameworks. Right? If you don’t have that framework of, okay, you know, we’re gonna start building this. We’re gonna start where we’re at. We’re gonna start small or big or whatever. And here’s the reason that we’re doing it, and here are the guidelines that we’re putting around this, and here’s when we’re gonna get together to reaffirm things and to tweak things and to share what we’ve learned to, you know, put together I do this with my family, with my 2 brothers and and our families, you know, and we share, you know, contacts that we’ve made so we can expand our our family network. You know, share lessons that you’ve learned. We’ve got a little book that we’ve sort of started with sharing lessons.
Jordan Berry [01:00:47]:
Right? Like, all like you said, all that’s free, but beyond that being free, that’s the that’s the foundation. Right? And you don’t have to have everything figured out. This is all evolving for for us and for, you know, all of these family offices. Right? This because the world is changing. The family is changing. Our knowledge is changing. Our wealth is changing. All this stuff changes.
Jordan Berry [01:01:08]:
It’s like a living document basically, of things. And so not only is it free and you can get started today on this stuff, you should get started today before you even get a hold of MC, which you’re probably psyched about doing because I know I am psyched about doing that. Right? So so do those things. Like, put those things in place. Make it part of your regular cadence to get together. Make it part of your regular cadence to, you know, review these documents and amend them and improve them and and expand them, you know, to to suit your needs and your family’s needs. I love that. I’ll I’ve been, like, taking so many notes this whole time.
Jordan Berry [01:01:46]:
Like, I I love
MC Laubscher [01:01:47]:
it. Yeah. It’s and to your point again, the easy the easy the easy part is the transfer of capital, brutal. And you can protect that through your legal framework. The hard part is the intangibles, and that’s where you’re going to have to spend time, energy, effort, And focus to really pass that on to your children and so that they can pass it on to their children throughout the generations.
Jordan Berry [01:02:11]:
Yeah. And that’s where we see a lot of these wealthy families where, you know, there’s all the the, you know, the stats out there. Right? Like, within 3 generations, the money’s gone. Right? And so the question is, well, how do you keep that money in the family and keep the family from squandering it. Right? And these 5, you know, steps of this sort of family office thing is that’s how you do it. Or at least give yourself a a good shot of that happening. Right? After you’re gone, you’re gone. Right? So who who knows? But if you, you know, if you’re if you’re teaching the family, you know, these principles and getting together and reaffirming them, like, this is how this is how those the Rothschilds and, you know, the Rockefellers and and all of them.
Jordan Berry [01:02:54]:
That’s this is how they do it. Right? They follow these steps. I love that. Okay. So much stuff here that we have covered today. I’m I’m sure for a lot of people, this is all brand spanking new, and they have a lot more questions than we have time to in this podcast or that I even know to answer for them for their particular or ask for them for their particular situations. So if somebody is kinda getting excited about this concept and is looking for ways to grow their wealth, maybe to build their laundromat portfolio or or whatever their situation is. What’s the best way for them to get more information, and what’s the best way for them to get a hold of you?
MC Laubscher [01:03:31]:
Your own banking system dot com. Your own banking system .com. There is a presentation which is 30 minutes. If you play it on double speed? It’ll be under 15 minutes where we put as much as we can into, that presentation regarding infinite banking. All of the frequently asked questions we we answer in there. We even give you some examples of what this actually looks like. And then there is a button right there where you can then, request to, set up a meeting with us, and we can do a strategy review, And then explore options, for you and your family. So that’s at your own banking system.com.
MC Laubscher [01:04:14]:
And then for folks that are interested just learning more about cash flow, cash flow efficiency, cash flow investing, I have the Cash Flow Ninja podcast. That’s just at cashflowandinja.com. We’ve got, boy, we’ve got over a 1000 episodes between all of our shows on there now, and we, I have covered everything. Business, real estate, commodities, cryptocurrencies, paper assets. I mean, we’ve we’ve covered we we went pretty wide, you know. Laundromats. Laundromats. We did.
MC Laubscher [01:04:47]:
We had a great time having you on the show, and our audience loved it. So, yeah, we’ve got all kinds of really, really cool, episodes featuring like alternative assets, which a lot of people have not even thought about, as as, possible investments or possible business opportunities.
Jordan Berry [01:05:09]:
Yeah. Definitely go check out Cash Ninja podcast. It’s on all the podcast players and cashflowninja.com and your own banking system, dot come. All these links will be in the show notes. Or if you’re on YouTube, they’re down below in the description so you can get there. But highly recommend. Like I said, I’ve I started listening to your podcast, like, almost a decade ago, to be honest. Like, it was 8 or 9 I don’t know.
Jordan Berry [01:05:32]:
7, 8, 9 years ago, something like that, when I started listening. And, so much good stuff over there. So make sure that that gets into your podcast rotation, as well. MC, this is, like I said, it’s a little bit surreal, and really awesome to have you on the show. I and looking forward to doing more with you. Hopefully, so many of you guys will have heard this and, will get excited and and check out your own baking system .com and definitely check out cashflowninja.com. And, MC, once again, appreciate you coming on, and looking forward to talking again soon. Alright.
Jordan Berry [01:06:06]:
Hope you loved that episode with MC. Such a great dude, and so much good stuff going on in that episode. That’s definitely one that I’m gonna be listening back to multiple times, just for reference because there’s just so much good information there. So, I hope you got a lot of good stuff out of that. But, again, none of that means anything if you don’t go out and take some action. So pick one thing and put into action this week. Don’t wait. Don’t delay.
Jordan Berry [01:06:35]:
Don’t postpone. Put into action this week. Be a doer this week. So pick something, put into action. And if you need, probably, we all do, actually, need some accountability to get that action done. Go post on the forums, laundromat resource.com forms what your one takeaway and action step is going to be this week, and let’s keep each other accountable, to actually taking that action. For me, I loved the talk on the family office there towards the end. And, that is something that I’ve been thinking a lot about, and I love how he broke it down into the 5 steps.
Jordan Berry [01:07:11]:
And it just made me think, you know, going back to step 1, which actually requires no money. But, you know, those legacy documents and formulating those, you know, with the principles, the statement of purpose, and the legacy videos, which I thought was a great idea. Unfortunately, for my family, maybe these videos are my legacy videos, and they gotta just watch me talk about laundromats. I don’t know. But those ideas were great, and it just made me think about more information I wanna gather and how I wanna tell the story of my family and how I wanna shape our family’s story going forward, by shaping the story currently present and in the past too. And so that is something that I am actually very, very excited about. Something that I’m, like, actively working on, especially since I had this conversation with MC. So huge shout out again, to MC for that, and help me shape my family family legacy.
Jordan Berry [01:08:12]:
So what’s your one action step? Go out and take it this week. Alright, guys. Thanks for checking out the AlarmNet Resource Podcast. We will see you. I don’t know what’s happening over there, but we’ll see you next week, in the next episode, which is another killer one. Actually very, very excited about that one. Alright. See you next week.