Passive Income Playbook with Joey Mure

There he is, the man, the myth, the Italian stallion, Joey Murray. How you doing, man?

Man, never better. I'm in the room with like-minded people. It's my favorite place to be. So thank you guys for having me.

Love it. This is going to be awesome. So I don't know if you've tuned in any earlier sessions, Joey, but we've had some amazing speakers. Bob Fraser shared on how to earn more with less risk. Justin Donald talked about investing like the top 1%. Walker Deibel talked about buying businesses. We just got off a Q&A with Ken McElroy and Bob Fraser. Now we're going to— let's get our hands dirty. Let's get into some real numbers here talking about passive income. This is something that you and Russ have really just built from the ground up, an incredible community, incredible podcast called Wealth Without Wall Street. If you're not currently a listener, be sure to go subscribe. You're going to love what Joey has to share here and can't wait to hear it. You guys are walking the talk, which, which I love, right? You guys talk about passive income, but you've kind of in real time been doing it and sharing that with your listeners and your audience to show it's possible. So Joey, we're handing the mic over to you, man. Let's go knock it down.

Awesome. Awesome. Well, I'm going to hopefully get my screen pulled up here. Is everybody seeing my screen? Give me a 1 in the chat if you can see it. Okay. Awesome. Awesome. Well, as you mentioned, man, I feel like I had to bring something here to maybe make today a little bit simpler. I don't know about you, but, um, if you got like— you feel like you're drinking out of a fire hose today, give me a thumbs up in the chat. Because here's the deal, you're going to learn this very quickly, so I'll go ahead and let the cat out of the bag. You're dealing with a redneck from Alabama, so I'm going to bring the cookies from the top shelf down to the bottom shelf. And make sure you know exactly where to start on your path to creating financial freedom. I'm so grateful for the men who have gone ahead of me and have kind of laid the pathway. But today we're going to actually talk about the first step. Literally, the first step in becoming financially free is to have a system that takes your active income and turns it into passive income. All right, that sounds interesting to you. That's a bold claim. I'm gonna do that for you today. Now, the first thing you have to understand is that this is the way in which entrepreneurs unlock hidden capital. You may not know what that means today, but I will uncover this and create financial freedom. But we're also gonna have some fun with it. In fact, one of the people that went through our Passive Income Labs said he sent a text to his wife and said, I'm about to get nutty about our finances. So buckle up in a good way. If you're ready to get nutty about your finances, give me a yes. All right, Devonte is ready. Thank you, Devonte, Christy, Michael, awesome. Okay, let's simplify what we mean by financial freedom. And this is just how I think. Your passive income has to exceed your monthly expenses. Some people say my passive income covers my lifestyle. And they would be right because this is when, and I want you guys to do me a favor, pull out your phone and I want you to go to your calendar app, okay? And I want you to hold it up and you see all these little color-coded boxes that are on your calendar app. When you're financially free, you get to put those boxes on your calendar. Today, if you're not financially free, if your passive income has not exceeded your monthly expenses, there are a number of boxes, potentially the majority of them that were placed there on your behalf, on someone else's requirement of your time, whether it's your business, an employer, or somebody else. And today we want to uncover how you get to place those boxes on your calendar with whom you want, when you want, and where you want. I want you to learn, not just hear from me, but the people that have walked through this process with us Like, for instance, Mark, you may know him as thelandgeek.com. He's one of our good friends. But when we first met him, he had done over 6,000 land deals. Like, this is not a beginner investor, yet he didn't have a system in which he was operating out of for his passive income. Once he did, he unlocked this one thing we're going to talk about today. He redirected his cash flow back to himself He turned lazy cash into a compounding machine, and he's used his now passive income operating system to buy thousands and thousands of acres so that his cash is now working for him 24/7. One of the speakers earlier said, you have to get your money working as hard as you, and I cannot agree more. In fact, what we've been told is that we need to play the game of checkers and it relates to our finances, but it's actually a game of chess. And you have to think differently. You have to think in 3D about this. And so we're going to actually break this down. So there's actually no good or bad investments or good or bad investors. Excuse me, good or bad opportunities for business or investment, but there are bad entrepreneurs and bad investors. That's what my friend Robert Kiyosaki says. And here's the reason why. They're facing problems. There's 3 main problems that we've known, and I want you to tell me in the chat if you're 1, 2, or 3, or maybe all 3 of these apply to you. Number 1, people who are successful entrepreneurs feel income rich but cash poor. What do I mean by that? That means they make a lot of money, but they don't really see progress. They don't really see freedom on the other side of that.

Okay.

So if you're, if that's you, put a number 1 in the chat. Number 2, they have inconsistent cash flow. If you're riding the roller coaster of up and down, up and down, you don't really know what you have working for you or against you. If that's you, put a number 2. Number 3, am I feeling like I'm behind? Like I may be getting older and I should be further along than I am in this whole journey of financial freedom. If that's you, put a number 3 in the chat. Okay. Now, again, I want to share people that we've worked with so that you understand how this applies to you. This is one of the top real estate agents in Alabama. We've been friends for a long time because I used to be in the mortgage business years ago, and she really wanted freedom, but she was caught up in the paycheck to paycheck, the roller coaster or the hamster wheel of closing the next deal, closing the next deal. And when she understood about this, in installing the system, she started to create an opportunity fund. And that, that opportunity fund gave her access to cash that helped her to discover her unique investor DNA. Hold your thought on that. I'm gonna share a little bit at the end about a bonus you get about your own investor DNA. That helped her to buy the right types of rental properties with a very clear strategy. In her case, it was short-term rentals. And that has helped her hands-off management create passive income to fill in the gaps of those roller coaster months. Now, what this really amounts to is we want to go from having those problems that we mentioned to creating opportunities. So instead of being income rich and cash poor, I want you to become an opportunity magnet. And just in light of this, I want you to tell me if you've heard this statement before. Opportunities find cash. Write that in the chat. Write that in, opportunities find cash. So instead of being income rich and cash poor, we have to put you in position to have opportunities come to you. Number 2, we're gonna get you off of the inconsistencies of your income and work because you want to, not because you have to. By the way, when you don't have to work, you don't have to have that next sale, it actually comes easier to you because people are reflected or repelled when they feel like you need to work or need to sell them something, right? Number 3, we want to go into this position of turning active income into passive income. In fact, I want to just challenge you right now. If right now your passive income is zero or very low, In 3 years, if nothing changes, wow, how would that affect you and your family? If you, if you're taking in all this information today and you go from where you're at today to no movement in this particular option 3 years from now, how will that change you and your family? How will that affect them? Okay. So today we're talking about the Passive Income Operating System. There's 3 steps to it. There's organizing your cash. Storing it in an optimized way, and then automating the process. I don't have a ton of time today. I only have about 30 minutes, and so we're not gonna cover all 3 steps. We're gonna cover primarily the store function because this is the one thing that unlocks this whole system that most people have never even heard of. Okay? But if you want the rest of these steps, I'm gonna take out your phone and I want you to get access to our ebook. This breaks down the entire process. The architecture that I'm about to show you, and it tells you in great detail how to organize and also how to automate. So you get all 3 of these steps in great detail. Tons of free giveaways embedded in this, so download that right now, totally free. Make sure you get the, um, the directions on how to do that. Now, as we do this, I want to just share with you, you know, uh, Ben mentioned this a minute ago, But Russ and I on our podcast in 2020 went out to the world and we said, we need to be result leaders, not just thought leaders. We need to be result leaders, people who put their money where their mouth is, who actually do what they say to do. And we started reporting our personal passive income in June of 2020 to the world. And it was about $2,500 a month between the two of us. Using this one tool and following this process, we have now since eclipsed $50,000 a month in passive income. And we break this down. You can actually listen to it on our podcast. Every single month we share our actual passive income with the world, the good, the bad, and the ugly. And so I want to tell you, this works and you can do the same thing. Now let's dive into the store function. In this position, you're actually taking the cash flow that comes into your world and it's going over into this section that you're now going to invest from. You're actually controlling your financing, bringing money into your control and your access. But where you store that money matters a great deal. We're going to break that down. There's 3 steps to this one piece. We're going to redirect cash that's not supporting us to get to financial freedom. We're going to leverage that cash because it's the number one tool of the wealthy. And third, we're going to recycle that cash over and over to create a perpetual machine that gets us into financial freedom. Okay, so everybody with me so far? This is how we're going to store cash to ultimately get to financial freedom. Give me a thumbs up if you're with me so far. All right. Number 1, we're going to redirect. Thank you. We're going to redirect our cash. This is where most people have fallen short. This is how they get paid and this is where their money flows. Okay. Now who's read the book Profit First by Mike Michalowicz? Give me a yes or a thumbs up in the chat. All right, Scott. Yes. Okay. Devonte. So many people have read or heard of this process. Well, what's the key to his process is that dollars come in and they have a job. They go out to separate accounts that have specific needs and specific purposes. And he does it because it helps you to be creative about where your expenses go. But this is what we do in our personal life, right? Money comes into a checking account. They— now that money gets just thrown to the wolves. It goes out to pay debts. It goes to pay our mortgage, our credit cards, our taxes, our fixed our variable debts, and then we're shocked when we don't know exactly how much we have left to save and then invest from that account. So you see here, this is a confused mind. And what does a confused mind do? It does nothing. And so that's why people are stuck on what we would consider the rat race. Okay? They are constantly getting paid. The money goes out the door. They get paid, money goes out the door, and they don't ultimately have money working on their behalf. So this is what we actually recommend instead. When money comes in the door, and this is something you could do today, when you leave this webinar today, this summit, you can go to your bank and say, you know what, I want to set up this first account. I want to set up a new checking account that all it does is receive income. Okay. Can you do that? Is this easy? Right? A new checking account is super easy, right? Get it. And all it does is receive income. The second thing it does is it pushes down to you, probably where your existing checking account is, where you pay all your expenses from. But it only sends down the amount of money it needs to pay the bills. Okay, so for instance, you don't leave any money in expenses other than what it takes to pay those bills for that month. Everything else stays in that income account. Why do we do that? Because then we can focused on how do we get the money from the income to this next step over here. This is a new checking account specifically for investing, and we want to get as much money out of that left side into the right side. Why? Because as soon as it gets out of our personal rat race scenario, we now can focus on investing it and keeping it investing in a perpetual motion. Okay, this is the ultimate framework and architecture of what we're trying to accomplish, and this is what you build. Okay, this is what we recommend that you build. And I'm going to break down where that hub needs to go, because here's the deal. If you get this all right, but you miss the hub, you miss the actual storage place as the most efficient, optimal place to put it, then you slow down or you may never get there at all. Okay. And let me just explain why most people are stuck in what we call money traps. Why do we call these money traps? Okay, give me a 1 in the chat If you have an IRA, 401, 403, or any other type of alphabet soup that the IRS and the government has told you is your benefit. Okay. We got a lot of ones. Excellent. Jeffrey, Braden, Devonta, Curt. I hate to tell you, but if we go back to our initial thought process that we want more passive income than we have monthly expenses, then I want to ask you simply one question. When I put money in a 401, IRA, or 403, does it produce a passive income? Give me a yes in the chat or a no in the chat. If I put money in a 401, IRA, 403 today, does it create passive income? No. Now, okay, so if it doesn't produce a passive income today— I'm not talking about when you're 65 and 70, because you want to be financially free when Today. Everybody wants their time back today. They don't want to defer it until they're quote unquote retired and taken out of service. Today. So if I put money in today, does it produce a passive income? Does it subsequently reduce a monthly expense? Give me a yes or no in the chat. No, no. In fact, it takes money that could be used to produce passive income today and it locks it up for the next 20, 30, 40, however many years you have until you're 59 and a half. Does that sound like a good place to create financial freedom? No, but you're like, well, Joey, you don't understand. I get a free match. That's 100% return. Why don't I get free match? I got a great return last year. It was like 14%. Uh, I get to save taxes. It's deferring my taxes. Guess what? All those things may be true, but are they actually producing passive income greater than monthly expenses today? The answer is no. So is it getting you closer to or further from financial freedom? Further from. Now, I'm not going to break down all of these because I have limited time, but you're going to get the— you get the kind of overarching theme here that ultimately equity in your house is a dead asset. Money in your business that is not being used to produce additional income is debt, a dead asset. Stock market, when you put money into the stock market and it's going through the roof, do you want to take money out? No. Why? Because of FOMO. What if it keeps going up? I need to keep it in there. I need to ride this wave. Well, what if it loses money? Do I want to take money out? Well, no, I don't want to lock in the losses. So when is the psychologically the best time or the only time that you're going to take money out of the stock market? You're not, because it ultimately is playing off of both sides. Now, it— this is something that one of our clients told us, and I love it. He says, I had no idea how much time it was costing me to be investing in my IRA. And you may think, well, I know what he means. It can't be really taking time away from him to put the money in, but how much time was it keeping him away from financial freedom today? That's what I want to ask you. Now, the last thing I'm going to say is a quote unquote money trap is cash. And you're like, okay, Joey, I get this. You're crazy. Cash cannot be a bad thing. Well, let's talk about why I say cash is lazy money. In fact, I would be so bold to tell you that cash is the most expensive place that you could park your earned money in order to produce passive income greater than monthly expenses. Now, I can't say that without giving you an opportunity to upgrade, can I? And it all started for me. I want to tell you right here, how many of you have actually read this book, Become Your Own Banker, and learned about the concept of the infinite banking concept? Give me a 1 in the chat if you've read this or you actually have implemented the Infinite Banking Concept. Okay, we've got some 1s. Michael, Jeffrey, Leah. Okay, excellent. So you're already an expert in this. You're going to understand exactly what we're talking about. But number 2, if you've heard about this, but never taken action, I don't care for what reason. If this is you, you've heard about Infinite Banking, but just been like, eh, I never have gotten around to it or just don't think it's for me. Put number 2 in the chat. All right. Thank you. Thank you, Curt, Jim, Brayden. Okay. And then lastly, not to leave you out, if when I said IBC or the Infinite Banking Concept, you thought I was talking about root beer because you never heard of this concept at all, put a number 3 in the chat. Okay. Do we have anybody that's never heard of this? Curt. Thank you, Curt, for laughing at my joke. IBC root beer. Cedric, Steven. Okay. Thank you. So here's what this book taught me. A few things. There's a bunch of things, but I'll just keep it really simple. Number 1, it taught me that we have to take control of our finances, right? We cannot abdicate investing to somebody else. Nobody cares about your money as much as you do. Nobody. Okay, so you have to be the investor. You have to be the banker. And guess what? Banks do things with money that we don't. And we have to start thinking like a bank. Okay, what's the number one place that banks put money? They put it in whole life insurance, cash value life insurance. And why is that? It's because they know it's liquid. It's one of the safest assets on the books. In fact, they max it out as their tier one capital provisions. And number three, It's tax efficient, grows both tax-deferred and can be accessible tax-free at any time. Now, if that's not good enough, it also does some other things. And I'm going to kind of share this with you. Now, we've been talking about this for a really long time. This is my business partner, Russ. He read the book. He shared it with me very shortly after I was his client first. And then we started doing this together in 2014 as, as I had been doing this for 5 years before that. Now, why is this? It also grows in a manner that's tax-free, 3 to 5% tax-free. You may think, well, not a big deal, but is this really an investment? The ult— the ultimate question is no, life insurance is not an investment. And I'll tell you, when I learned this, I was working at Wells Fargo Bank and I said, I went around to the top bankers in my area. These are like the regional vice presidents, all the executive team of the local bank. And I told them, I said, hey, been reading this book, it's talking about using cash value life insurance as a vehicle to build financial freedom. What's your thoughts on it? And every one of them, without exception, said that is the dumbest place to put money. Nobody puts money in cash value life insurance. And I said, really? It's interesting because I looked at Wells Fargo's balance sheet. And on their balance sheet, it has $11.2 billion in real estate. Now, I wasn't shocked by that. That's a good thing. We all know that banks have money in real estate. But when you scroll down to item number 41, they also had $19.3 billion in cash value life insurance, dwarfing what they have in real estate. Was that— is anybody shocked by this, by the way? Can you give me a, a whoa in the chat if you're like, had never heard of this before? Because guess what? It was news to me. It was news to them. And they were the ones insured by the bank. Think about it. An insurance company has to have a reason for insurance. And so all these guys with these really highfalutin kind of, you know, Titles are now insurable for the bank. And so they are just getting insured to the max. Crazy stuff. Now, do banks do it the way that your Northwestern Mutual or your State Farm or whoever is trying to sell you life insurance is selling you? Absolutely not. They're putting in, instead of the minimum amount of money for the highest amount of death benefit, right? Put the word term in the chat if you know what I'm talking about. Term insurance is just that, the max amount of death benefit, the least amount of cash. But what did they do? And what do we do? We now buy life insurance at the max amount of cash we can put in for the lowest amount of death benefit. Why is that? It's because we know that there's a limit that the government will allow us to put into life insurance, and we want the most benefits it can provide. Now, it doesn't make any sense if I don't now simply talk about how we can leverage it into our whole process of becoming financially free. This is how the life insurance company works. They have your cash value down below. This is what you're putting in premiums. It's creating cash value. It's liquid, it's protected, it's tax efficient. And then we want to go do a real estate deal. Let's say I want to get involved in what Aspen Funds is doing in one of the verticals that they're investing in. And I say, I'm going to go put $100,000 into their deal. I'm not going to take the money out of my cash value life insurance policy. I'm going to go to the insurance company where they give me the right to borrow against my cash value as collateral. And what do they do? They give me an interest-only loan against my cash value, and I can then go get involved in that deal. But this isn't just any interest-only loan. This is an unstructured interest-only loan, meaning I am not required to make monthly, annual, quarterly, or any other type of repayments on that loan. I'm simply accruing interest against it as that money is left out in the market. So let's say I have a deal and it's going to take 6 months to a year for cash flow to start. As I borrow from my, my cash value from the life insurance company, I could go put that into that deal and not have any sort of repayment on that at all. And you're like, well, okay, Joey, that sounds good. That's good terms. But what if I don't want to actually use a loan? I just want to use cash. Wouldn't that be cheaper? Well, let me break that down for you, because I was— this was shocking to me. When you have money in a cash account, checking, savings, otherwise, you're stacking up that cash to then do what? To remove the cash from any sort of interest that it was bearing and go and dump it into a deal, into a liability, whatever case may be. And then what happens? I have to start stacking it back up and then I dump it out again. I never stop. I never continue, I should say, the compounding of that money. And you say, well, that's not a big deal, Joey. I mean, compounding my money, it just, you know, this is how the money has to work because it's in my checking account. I take it out, whatever. Well, let me give you an alternative that you may not think about. Let's talk about the opportunity that it's costing you when that money stops growing for you. And you've heard this term before, opportunity cost. But let's just talk about if I was investing in real estate in some of these alternatives that we're talking about today, I had $25,000 and I put it into an account and or into a deal. And I just— this is not realistic, but I just left it there for 25 years and 20% earnings is applied to it. Now, you may say, Joey, that's way too high. I don't have deals that are 20%. And then there's many of you on here that are like, I don't even get out of bed until it's 30 plus, right? So let's just talk about— just use a number just to give you something to go off of. In 25 years, that $25,000 has grown to almost $2.4 million. That's compound interest at work, right? Well, let's say that we interrupt the compounding by taking $20,000 out 5 years in. We go on a vacation, we pay for college, whatever the case is, I don't care. We take $20,000, just $20,000 out. What's the effect? You know, look down at the bottom. What's the actual cost? It now has only yielded $1.4 million, a loss of $920,000. So have you ever made a $900,000 mistake and felt good about it? The answer is no, right? How do I stop bleeding cash? Now imagine this over your lifetime and all of the deals that you've done. That they all cost you this much or more. This is where we need to stop losing the compound interest that we could be earning. And this is how it works when we use a different storage facility. When we use cash value life insurance as a vehicle, we now take that loan against it. We go out and we do the deal, buy whatever asset it is, and then we can pay it back with our cash flows as they come back. Now, let's use a couple case studies because I really think this is helpful to see it in action. Now, we have a land business. You'll hear this on our podcast if you tune in. We have about 16 different income streams. One of them is a land business. We buy boring land at 25 or 30 cents on the dollar. We turn around and sell it on owner finance notes, and that money comes back to us monthly. This one alone, uh, well, I'll break it down here in just a second. Over the course of the last 5 years, we've invested $500,000 and what is that? 1, 2, 3, 4, $504,000. Okay. And it has created now a portfolio that is worth $2.3 million, but it's also created $33,000 a month in note income. Not bad. In fact, simple calculator tells you it's a little over 40% IRR. Like, man, high five! Give me a 5 in the chat if you're good. Like, this is exciting. I want 40% returns. That sounds great. Um, but that's not the whole story, is it? It's not 40% IRR because, um, I didn't actually pay interest on this money yet. I haven't shown you the interest. I just showed you the actual capital that was used, but it wasn't my capital. It was someone else's capital, the insurance company's capital, and I had a loan simply to pay them back. Now, the interest I accrued over these 5 years is $100,000. You're like, man, Joey, that's expensive, bro. Like, $100,000 you paid in interest? But what did it produce? By only having that much going out, instead of putting in $504,000 of my money, I only put $100,000. So what's the true internal rate of return? It's actually 240%. Now, is that good? I mean, I think it's great. It's absolutely fantastic because it's using leverage, one of the key components and ingredients of the wealthy. Now, all this makes sense if we keep recycling it back and forth, back and forth. And let me just show you how that works. When you take that loan, and you go buy into a storage facility, let's say, and I'm using all these different types because it ultimately doesn't matter. We are agnostic to what you invest in as long as it produces cash flow that will get you to financial freedom as fast as possible. And that's why we love working with Bob and Ben and Aspen Funds, because they have so many different opportunities that you can get involved with to do exactly that. They've had storage deals in the past. And so here's just one opportunity. You buy into a storage facility, it starts paying you cash flow. You have two choices. I can either pay back the interest-only loan to the insurance company, or two, I can invest in a second storage deal as that money comes back, and I can take both of those cash flows and start using that money. Now let's break this down. So we, we both have the return on investment happening in the storage facilities. We have the return on cash flow from the storage facilities, and we have the tax-invisible rate of return within our cash value. And lastly, this is a thing sometimes some people forget but is going to be a difference maker for generations, is the legacy rate of return. Your death benefit that's associated with this system— and by the way, Russ and I have over 40 policies combined that will go to the next generation. Do you think that our legacy is increasing or staying the same by using a different system. It's absolutely exploding now. But what if it— like, this is one of the main questions we get: doesn't it take a long time to build cash value? Like, I've heard it takes, you know, Dave Ramsey said it takes 10 years. It's the worst thing you could do. Well, we just like to be open books. This is the very first policy that Russ, my business partner, showed me he had just bought whenever I learned about this myself. So you can see he bought it in 2010. He has put in annually money into this policy all these whole years, all these 15 years, and he's got $278,000 of cash value currently. Okay, now how does this break down in terms of when the cash was available? You can see in year 1 he put in $25,000, and I know you, you can laugh at this, this may be really small for your situation or really big. Add a zero, take a zero away, I don't care. You put in $25,000 in the very first month, within weeks he had access to almost $17,000. That's a lot of cash value to accumulate very quickly. It's because of the way it was designed, designed for max cash value and least amount of death benefit. But you're like, well, Joey, I mean, you know, he's kind of missing out here. If he just used cash, he'd be way farther ahead. Well, let's break that down over time. This is not a short-term idea. In the first third, you know, after 3 years you start to catch up. 4 and 5, what happens? The money was put in, the cash value associated went higher than what was put in. And you're like, okay, all right, starting to catch up. But then let's look at the next 10 years. Almost every year after that, the dollar put in doubled. Okay, so here's where the brain function has to come in. Is there ever been a time in your checking account when you put in a dollar and it produced more than a dollar in return, or $2, I should say? The answer is never. It will never do that. But this will constantly do that. And you don't have to take our word for it. There's been hundreds of people on our podcast Um, even many of the people that have been present today, speakers and otherwise, that are doing this at a high level. But, um, this is a system that we have perpetuated. A last case study I'll show you really quickly because I know we're almost out of time is just— here's an example of using the storage facility and using cash versus using the system that we're talking about with cash value. Here's an example. And I know that many of these deals have returned higher than this, but I'm just going to give you this really quickly. A really small deal, $100,000 investment, preferred return 8%, 5% appreciation over 30 years. I'm just kind of simplifying this. It's going to give you $432,000 in return over 30 years. But at the, at the same time, you're getting cash flow 8%. That's another $8,000 per year for 30 years, $240,000. If you're with me so far, give me a 1 in the chat. We have to back out the original $100,000 and we are left with $572,000. Now, but let's compare that if I use my system and I don't use my capital, use the interest-only loan from the insurance company. I get the same appreciation. The preferred rate though, I have to factor in the cost of paying back the loan. And I have the interest over the course of that time. I'm going to base it off of 5.5%. That's a little high than it's been over the last 10 years, but it's low for maybe over a 30-year timeframe. It's kind of an average. So over that time, I get $8,000. I have to subtract $5,500. I'm at $2,500 for 30 years is $75,000. I know I'm going quick here, but we're going to give you this all as a replay when you get the bonus today. And you back out the investment, I'm at $407,000. You're like, hey Ellis, um, you need to tell Joey that he— his math is wrong. He's actually looking worse on the right-hand side than he is with the cash. But the reality is I didn't use my money. I had my money always at work the whole entire time. And here's what happened. It grew at just, again, 3 to 5%. We're just using 4% by an extra $324,000. We add those two together, it's $731,000. It's actually dwarfing the cash account and it gives us almost 28% more cash. Now, if we could do this over and over and over through a framework that actually puts you in the driver's seat, you know exactly what's happening. Do you think it's possible that you could create more passive income? Do you think it's possible you could invest more in the things that you're already doing? It's absolutely a no-brainer when you put this whole thing together. And I want to tell you, we can't do this for everybody, but we have the ability to help walk you through this very same process that we did. And Ellis asked me for a couple things, um, to provide to this audience today. And number one, we're gonna give you an app opportunity to apply to work with our team. They will walk you through all these things if you qualify. So you have to go to this, you can take out your phone, and download this, uh, application process, go through it. Assuming that you qualify, our team, you'll set an appointment and they'll walk you through what the steps are that it takes to get this in place. And so that's number one. The number two thing, and I think we're probably out of time to do FAQs and stuff like that, Ellis, so I'm going to just jump to this. One of the things that we do is we also do an Investor DNA boot camp. And just for Buying the package that Ellis and the team here have put together for you, this is just ridiculous. I mean, it's like $8,000 worth of value. You get it for like nothing. When you buy that, you're actually going to get an opportunity to be on a boot camp with Russ and I to go through your investor DNA profile to figure out what sort of investments actually align with your God-given personality. And your resources and your experience. So don't miss that. Um, that's a free bonus that we're throwing in, and I wanna make sure that you take advantage of that today. So I wanted to at least let you know what that was, but it's live. It's an hour and a half of our time with you to give you what you need to run quickly. But lastly, if you haven't applied to work with our team, again, this is a free possibility to work with us, and I wanna make sure that you get access to it today. So Ellis.

Awesome.

That is awesome. We got, man, I was trying to—

good. Hey guys, I just want to know, like, if you, if you think this summit has helped make you more money or make you a smarter investor, would you just let us know? I mean, I just think that was a 30-minute masterclass. I know there's so much more, um, that we can dive into that, but I mean, what an awesome, uh, awesome job. Thank you so much, uh, man, for joining. Will you, uh, stop screen sharing real quick so we can, um, Everybody can see us. How do we bring— oh yeah, okay, you can see us both now. Cool. Yes. Awesome. 100%. Everyone's like, yes, this thing has made us money. Dude, that's an— that's a sick bonus. So you're talking, they're going to get something other people are paying for right now to go and workshop with you guys over the course of a couple of days. All they got to go do is buy the $299, uh, 10 books. Essentially it's 10 books. Just so you guys know, like you're getting 10 books. Like we're giving you the value of the $300. So you're not just like buying this, thing, you're getting a physical transfer of value and then you were just over-delivering. Um, so that is awesome. Awesome. Awesome.

Awesome.

So guys, um, want to thank Joey for being here and Russ and Joey, uh, for, for all that they do there at Wealth Without Wall Street. And, uh, we're so grateful, man, to have you guys as, as a part of this summit and looking forward to doing more stuff together.

Likewise, man. Thank you for putting this together. Uh, so much value you guys are giving away today. Yeah.

Thank you. So guys, here, we're going to jump over to Jim Doo's talk. We're gonna talk about the beautiful tax bill strategy. Before I do, I do just want to talk about the bonuses again. Um, I don't know if you've seen the webpage yet, uh, but all that we've put together so far, Justin Donald, we didn't really get a chance to talk about it. His Lifestyle Investor Billionaire Bonus is a $5,000 value. It is over 10 hours of training. There are resources designed to help you build passive income, protect your wealth, and Accelerate Your Path. We've given a free month to Ken McElroy's community in his subscription, which is worth $1,000 already. Uh, Walker Deibel, uh, has given away his Acquisition Insight course, which he sells for $100, and you're getting that for free. And then of course the bonus that you just saw from, uh, from our speaker here, they're giving away a weekend workshop that other people are paying for. You're getting access to it for free when you go buy the 10 books. So Like, we hope that when you go buy 10 books for us, like, we make— like, this is supposed to make you money, right? Like, it should help you make money over the course of your investment career. And so we want— when we put this together, we said, how can we make this an absolute no-brainer? And that's what we asked our speakers. Please help us make this an absolute no-brainer offer that this should make people money and not cost them anything. I mean, heck, you could go put the books back on eBay If you were a real investor, you know what I mean? Like you could go put the books back on eBay and get your, get your money back. You know, there's some arbitrage here probably. Um, for sure. So, hey, so, so excited, uh, to have you on guys. We're going to jump over now. I know Jim's starting in the, in the other session. So we're going to exit out of here. Thanks again for being on and we will see everybody in the next one. All right.