Own Nothing Control Everything #wealth #money #financialfreedom #makemoremarbles #lifeinsurance

Own nothing, control everything. This was John D. Rockefeller's quote. He was one of the richest men that's ever lived. And the reason he wanted to own nothing and control everything is so that he could protect himself from liability. So he created corporate entities, a web of them, in fact, of trusts, of LLCs, of partnerships, to allow him to be separate from his assets. So if, for whatever reason, one of his assets were to incur liability, were to have a lawsuit brought against it, were to become insolvent, it wouldn't infect the rest of his empire, the rest of his portfolio. So why would you want to do this? Well, it offers a greater level of liability protection in some cases, it can offer better tax benefits. And it ultimately allows you to separate yourself from your businesses, which allows you to build credit and reputation outside of just your own, which gives you optionality, which is the number one effect of being a wealthy person. Again, gives you options. So if you want to learn to play like a billionaire, you better start with learning how to own nothing and control everything.