Mark Evans DM discusses building intergenerational wealth through children's Roth IRAs, 529 plans, infinite banking, and real-estate deals in tax-advantaged accounts. He shares how his son's IRA doubled and walks through an option-to-sale deal that returned $45,500.
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House, we're live. Thank you very much. We hit number one bestseller in all categories. Thank you very much for your guys support and everything. So excited to be here today. Happy Monday. Let's get this week started off right and talk about anything that you have going on. Yesterday for me was a long day. I pretty much from noon to from noon on, I laid in bed all day. So I was pretty sore. I don't know what was going on, but no, Corona over here just wasn't feeling too swell. But we're back on track. It's a Monday. It's a new day. It's a new week. What are you gonna do? Hey, guys, give me a quick shout out, let me know where you're from. As you're coming on here today. Give me your name, city and state, let me know where you guys are from. It's quiet over here today. Monday, Monday, Monday. What's up, guys? We'll be quick today. Probably only be about 20, 30 minutes today. Unless you guys have questions, I'd love to answer them. If you're having trouble in your business or not trouble. If you just want to talk about expanding your business, talk about the pivot moments and opportunities right now in front of you. Definitely down to here. What's up, Bradley? Book should be on its way. Awesome, man. Thank you again, guys. Congratulations. We did hit number one bestseller across the board. I'll be in the studio working on audiobook for this as well. So that's in the making sooner than later. But just so you know, probably about three months out, give or take with editing and all that fun stuff. What's up, guys? It's quiet, quiet, quiet. What's up, Quinn? Thank you very much, buddy. Thank you. Thank you, Dylan. Thank you, my man. Thank you, guys, all you guys. Appreciate you hopping in, buying a copy or many copies. Some people bought a lot of copies, which I appreciate you guys doing that. A lot of cool stuff, guys. So real quick here, I'll talk about, you know, my daughter's birthday on Friday. Drea, I posted a thing talking about how we're giving her a couple million dollars. Well, at least a couple million dollars for her first birthday gift. And it's not like I cut her a check or a wire for $2 million. See, that's where people always get it twisted. It's about knowledge. Knowledge is very powerful if you do something with it. There's a lot of people way more knowledgeable than me, but they don't take action. They're procrastinators and perfectionists. At the highest level. So what happened is what we do with all my. My son is the youngest self directed IRA holder under the moon. As soon as he was born we were up setting up accounts as you guys. If you followed me on the journey with Drea Drea, I think she, I'll have to pull the videos but I think when she was like a month old or two months old, we went in and set her up a bank account over at Chase. Got her all set up and ready to roll so she can start accepting money and preparing for the future. And obviously the parents, me and Deena are in control of that because she's a child. But you know, we went there, sit down, got her set up with an account. She'll be paid as an employee at 1099 model for the company. That's why she's able to set up a Roth IRA. And she'll be on videos, she'll be on PowerPoints, she'll be on website flyers and stuff like that. That's why she's able to do that. I would pay someone else. Why not pay my own kids? Same thing with Mark. So what happens is we place that money in those IRAs in Sessas College education savings account. A lot of you might know it as 529 plans from the bank. But what we do is Sessas, we utilize these accounts. You can only put $2,000 a year in it? No, I'm not allowed to because I make over the, the financial limits. But they're, you know the way there's structures that you can do it properly where put $2,000 in there and we're able to invest that money into real estate and such and get them a bigger return. And again I'm in control over that. So recently you guys saw where I did a deal for a dollar with Mark Sessa account and we turned it into $45,500. The way we did that is we optioned a property for a dollar, we bought it for a dollar and we sold it for 45,500. So that's a very big return on investment and one that people can do. It might not be that high of return, but you know, in real estate we have the privilege or the opportunity to option things for a dollar or a hundred dollars or $1,000 and turn that, let's say a thousand, turn that thousand into ten thousand. We can do that consistently on a pretty normal basis. The cool thing with sessa's, you don't have to put millions of dollars in there because they have to use it by the time they're 30 for schooling, education, etc. So like you know, private schools, again, consult your accountant, lawyer, you know, whoever you got. I'm not acting or giving advice here, but you can buy computers, you can pay for schooling, school trips and stuff like that, as long as it's tied to the school. So there's a lot of neat things you can do. So you know the goal is to put 4 or 500,000 in those and tax free and let them pay for themselves. And you can do that starting off with $2,000. It's pretty cool. And you can make contribution limits up to two grand per year, which is very amazing by the way. You can do this with your kids, your grandkids, your nieces, your nephews, etc. And I have, I've done it with all my nieces and I've done it with my, both my kids, all of my kids, both of them. So yeah, Friday was an awesome day. What's up Steve? What's up Rob? What's up Mike? What's up Shane? Thank you guys again. Just coming here to you saying thank you guys very much for magician versus Mule. Hitting number one means a lot to me. We got a lot of cool stuff and I'll be sharing with you guys how to and that all the great shares, you guys did a lot of great shares on your social and letting people know what's up. So I appreciate that. But this using Sessa's Roth IRAs and such is very powerful. If you want to change your financial trajectory, you got to do something today for it. Even on myself, I mean I'm always looking at UAL policies, whole life policies, universal life, whole life, these are policies. You might think of them as insurance policies. I look at them as, you know, tax free environment policies. In the future I'm more using them for investment vehicles, not necessarily for the insurance. Now, heavens forbid, well, we'll all die, but like hopefully not at 60, you know, if I die at 60, you know, whoever my beneficiaries are, they stand to get a lot, a lot of money but because the way I'm building the policies is to be able to give me a big income stream when I turn 60 years old. So what you do, it's called front loading up the policies to get them a high value, high cash value and then have this thing printing money every single month. So you want 10 grand, 20 grand, 50 grand, 100 grand a month. Yes, these are possible. Yes, that's what people do all the Time is where they're getting a $50,000 a month income stream by parking money inside of a policy. So that might. You might be blown away that that even goes on, but that goes on at that level and many, many, many, many other levels. So there's some cool stuff out there. What's up, Nick? But we got some really neat things, guys. Again, I'm always thinking and plotting about the financial future. And not only that, hopefully, soldier. She made a trade. She did her first trade. She sold a thousand shares of bank of Ozark Ozk and she generated $1,650 of profit. So that's always pretty cool. These are things that we're playing around with. Again, I'm not a stock advisor. I'm just trying to just picture where would you be financially if your parents taught you how to understand the stock market, understand financial literacy, understand how to balance a checkbook, if you will? Well, not really balance, because the truth is, I don't even know how to balance a checkbook. I know how to read a P and L, but I don't know how to balance a checkbook. It's, you know, I'm not worried about pennies and dollars. I'm worried about, you know, like I said, I don't have dollar problems. I have bigger problems than that. But, you know, I think there's some really neat things we can educate our children with. And I'm excited to be the steward of that conversation. And Dina and I, helping them understand the power of money, the responsibility of money, how to use it, how to. How to utilize it. Yeah. Dylan, hey, you mentioned on your podcast about the insurance policies and possibly bringing on one of your peer. Yeah. The problem is, Dylan, I'm going to. Actually, the problem is, is it's such a big subject matter and if we don't focus on one thing, it could get like. Just so you know, I've invested many, many years of my life reading, trying to. It's. It's a process. So I will bring them on. His name is Jim, by the way. I just got Jim or Bryce. But we'll bring them on and have a good conversation. It's powerful. What's up, Michael? Thank you for being here, buddy. But yeah, guys, there's some really cool things we can do with children or your grandchildren, nieces and nephews. I just want to steward the conversation to you guys as well. I want you to know, if you want, you can check it out. If you haven't got your book yet, Magician versus Mule, you should do that. And this is a magician like effort, by the way, right picture if they're five years old. So we're doing this with the kids. We have not got the policies yet, but we're doing that. We're getting ready to what's up Brian? That's it, be the bank buddy. And Brian, he knows his plan as well. But you know, with my children is like what we're going to do. What's up Chris? We're setting up policies, you know, with million dollar life debt benefit. Again, we're not doing it. We don't want the million dollars if the kid dies. That's not the goal. And the goal is how do we put money in today? Create a compound effect, utilize it as a banking model. Because this is a great way to tuck money into environments that allow you to utilize being semi liquid and to also have future opportunity. So for example, my son, he's 4 years old, let's say if we get him a policy today, we could build this policy out where we could say, hey, at 50 years old, I want him to get a $25,000 or $40,000 a month income stream. And what does that look like? How much do we need to put in? What does the, what is the, what is the policy? Are we doing whole life ual, blah blah blah blah. And then what we would do is map it out. This is a formula, by the way. This is a mathematical formula. There's no guesswork. It's like this is what I wanted to do by the way, with any of this stuff. I'm talking about life in general, right? We have to know what we really want to find the path to get there. A lot of people are out there trying to figure out how to do all this stuff and not have any clarity of what the opportunities are. So what I do with my insurance guys, I say, hey, I want a couple things, I want liquidity, case I need the money, all hell breaks loose. How quickly could I get it? That's important, but it's not like super important. So I'd like to kind of know what that looks like. Two, I want it to be able to produce monthly cash flow at X age, 60 years old or 50 or whatever age it is. And three, I'd like to be able to access it and utilize it as a banking mechanism for me to do my investment deals, if that's possible. And then they go out and they find the path. They kind of know where I'm at, where I want to go, kind of what it costs. Some of these policies are crazy expensive. I mean there's policies right now that you know 250 grand a year for 20 years. So it's 5 million bucks. You'd park in there, but it would have a very big piece on the backside. You're going to get 50 grand a month for a long time. So it depends on what your goals are and if 250 a year sounds like a lot of money. Well maybe it is, maybe it isn't. It's just all relative. So this is helpful man. Please keep sharing as we have a two year old daughter I want to plan for. Well like you said with your kids. Absolutely Frazier, you're welcome. So again there's some cool things out there guys. I have a site called kittyroth ira.com kind of shows you path. It's kind of like a. Not a documented pro. Yeah, I guess it's kind of a documented process. Case study if you will of a deal I did with one of my. With a deal I did with my son. So I got updated a lot. I mean he's young in that video being. Check it out. Kittyroth ira.com Sign up over there. Get the. I got. It's like a 1214 page report kind of showing you what we did and all that good stuff. So I think this is something I've been very big on for a long time. There we go. Beacon. Yeah. How my 11 month old son has nearly doubled his IRA actually is way more than doubled down. But yeah, this, he's young in this 11 months back then. Wow. Crazy cool. Thank you Beacon. But yeah we got a. You can get over there kind of download that children or your grandkids learn about it, understand it. It's very powerful and you us as individuals like you know I always talk when I mentor young kids or young people I always tell them, I say kids, anybody under 41 now is young to me. But you know the guys in their 20s and early 30s like dude, now's the time to stock money away, you know, at a high level. I've bought two vehicles, three personal homes, down payments with my IBC account. Now using it for investing buys. That's awesome. What's IBC mean? I don't know what IBC means. International banking conglomerate. Let's IBC mean Michael. That's awesome again. It's like I don't act like I know there's a lot of terms you get thrown around into the. In the insurance business world and that they do this on purpose by the way. They make you feel stupid and where you got to hire them to do the work for you. Oh, Infinite Banking Concept. Okay, cool, cool. I be at ibc. Yeah. So Infinite Banking Concept is a very powerful. Nelson. I know his books are in here somewhere. I bet I don't have it right here, actually, it's in my house in Ohio. But there's a guy something, Nelson, he wrote a book, you can get it on Amazon, about Infinite Banking Concept. Like I said, you know Brian Fouts here with Elevation Group, he talks a lot about this. I talked to him yesterday actually for a while about it. Yes, absolutely, guys. So very powerful, very cool stuff we can do. Anyways, what do you want it to do for you? I can't stress that. Yeah. Nelson Nash. Thank you. I can't stress that enough. What do you want these policies to do for you? Again, I'm very clear. What the Cessna does for me is how do I get four or five hundred grand in there? Park it and just let it rotate cat. And by the way, this is tax free money. And then you have to withdraw it, I think at 30 years old, if I remember right. But you can literally, you can pay for private schooling. There's all kinds of stuff you can do with it. So see her financial advisors for this stuff. But it's very powerful, Very, very powerful. And with the skill sets that we have as business owners in the real estate space, we can put $1,000 down on a house, that makes $10,000. We literally just tenfolded that IRA or Sessa account with one deal. And if you do that couple times, 10 grand, 20 grand, you know, these little 10 grand pops add up. And like I said, it's tax free. So you're almost getting double the bang for the buck, right? You know, and again, as long as you're not self dealing, right, as long as you're not doing 10 deals a week in there, that's a different story. But you know, you minimize or avoid or maximize, I should say, tax opportunities, such as short term capital gains tax. If it's a quick flip deal, you also have an opportunity in it where you're not paying any taxes at all if it's set up right. And that's why I like Roth iras. I like to pay taxes going in. We contribute up to 5,500 per year. You put the money in. And again, we're looking for opportunities to park the money that, you know, a thousand dollars here, boom, makes 10 grand. A thousand here makes five grand, a thousand here makes 20 grand, whatever. And then your goal is to Build these up. So again, that's why I said I gave my daughter a multimillion dollar birthday gift because it literally could be way more, you know, because what I want to do is in screen in them. I want to teach them about money, cash flow, money is good. And I do that all the time. Me and Dean is always talking to kids about money and you know, money is good, have a lot of money. What are you going to buy with your money? What are you going to do with it? Where should you park it? Like keep mine. They're young kids still, so you kind of play around with them. But like we're ingraining that conversation in their brain today, right? So it's very powerful stuff. What's up, tk Magician versus mule dot com. I appreciate you guys hitting number one best seller. If you guys need anything, I'd love to answer some questions here real quick. If not, I'm going to bounce. I got a busy day today. I got a lot going on. Like I said, yesterday was a weird day. Woke up feeling okay, actually, I woke up at 2 o' clock in the morning. I wasn't feeling okay. And then kind of throughout the day, kind of blah. And then all of a sudden at 12 noon, 12:30, somewhere around there, I was like, I could barely move. My bones are hurting so bad. So I'm not sure why. Maybe I got beat up in my sleep or something. But I was really. I laid in bed pretty much all day yesterday. So it's one of those days. What can you do? But I did make some calls. So I did talk. The beautiful thing is, guys, we have this thing called the cell phone that is computer in your hand. You can still do stuff even when you're laying in bed not feeling well. So it's pretty wild. It's good in bed, right, guys? This week as well, just a heads up, I have two amazing guests coming on this week. Cigars and coffee. Two amazing. One of them runs a 35, $40 million a year technology company. And the other one runs. He had a 350 million dollar supplement company. So to say that's big is an understatement. It's monster, by the way. You would know this company in a massive level. I've known this guy for 19, 20 years and from way back when, which is awesome. So I'm excited to hope you help you guys get to know him and see what he's got going on. More importantly, change your life. He's got some really great stuff. Both of these guys do. Thank you. Kim. Yep. Appreciate it. So, guys, gals, anybody else, if not speak now or forever hold your peace. Thank you for all the info. Always learning. Thank you, Mike. Appreciate it, buddy. Magician versus Mule. You guys haven't got your copy, make sure to do it by magicianversemeal.com also be on the lookout if you registered or signed in. We're going to be doing. We're going to be sharing what all the bonuses are. We're giving away over $100,000 in gifts over here over the next 13 days. So please be there and focus. Michael. Hey, Mark. What markets are you wholesaling? And for wholesaling again, we do Columbus in Cleveland, Ohio. I'm partners with a bunch of guys in a bunch of markets from Orlando to Youngstown to Dayton to Colorado to. Oh, my gosh, Oklahoma. Thank you, Kevin. All over the place. I mean, deals are everywhere, Michael. I mean, I think the biggest thing is my question would be, where are you wholesaling at and what's it matter? Because all markets work. It just depends on what you're trying to accomplish. But keep in mind, when I say I'm wholesaling, I'm actually detached from it, from the wholesaling business. I'm not like in the day to day at all. At all. I haven't been in a long time, actually probably five or six years. Hey, Quinn, didn't our sons do some deals together in Mark's ira? Yeah, I'm sure we did. I don't. He's done a lot of deals in his ira, so I'm not sure if we did some with you guys, but I'm guessing we did. That'd be awesome. So that would make sense if we did. The question, Quinn, is how do we do more? How do we do more? Let's do some more, man. All right, guys, I'm gonna bounce. I hope you guys have an amazing day. Happy Monday. Go get it. It's yours to get. Magician versus mule dot com. Have an amazing day. Stay focused. You got this. Talk to you soon.
