- 01:08-04:01- Jason Mandel discusses tax mitigation strategies focusing on using permanent life insurance policies for tax-free growth and mortgage protection for real estate investors.
- 09:42-14:46– Jason Mandel described strategies like Infinite Banking that allow individuals to borrow money tax-free from their own life insurance policies to fund real estate deals
- 14:46-29:15– Proper diversification and use of money managers is required when implementing more advanced life insurance-based real estate investment strategies, according to Jason Mandel.
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CORWYN:
Good morning, good morning and great morning to you. Welcome to another fabulous episode of Exit Strategies Radio Show. I’m your host Corwyn J Melette. Broker and owner of Exit Realty Lowcountry group and beautiful North Charleston, South Carolina. So hey, y’all know what we’ve been doing around here for a while. But I would be remiss if I did not remind you of our mission, which is to empower our community, through financial literacy, and real estate education, guys, we’re legacy building. That is what we do. For all these years that we have been doing this that we have been coming into your car into your home, essentially, invading your eardrums, and making it into your mind, hopefully, we are yet still embedding in your heart. For all these years, we’ve asked you and encouraged you that when you are out there doing things, to build a financial future for your family, that you are adding to and creating and building that legacy that you put a hashtag on it. It says that you’re legacy building, not only as a flag to wave to others, but more importantly, as a reminder to you to carry on the good work. So guys, today, we’ve had amazing guests. But look, hey, we keep going up hill. We keep climbing because today guys, look, I need y’all to grab your notepad. First of all, I want to let you know, we all just watching me, I got my notepad, we got to write some stuff down today, we need to know some information. I am extremely humbled and honored to be able to get this guy cornered and make him a part of the Exit Strategies Radio Show Family. We have none other than Jason Garrett Mandel. He is the founder and CEO of the Mandel Family Office. Now, look, I want to tell you a little bit about them before we go ahead and peel the cam, the lid back on his tan, and let all this stuff out today. But he is a renowned author, the author of Demand Transparency, I like that demand transparency, Stop Wall Street Greed and Rising Taxes from destroying your wealth. So look here, he has this bucket that he’s going to be dumping stuff out of today on on. So guys, let’s be prepared to receive it. Let’s get this good information. Let’s get this good word. Jason, thank you so much for being on the show with us today.
JASON:
Corwyn, it’s my pleasure, what an honor to be on the show. I’m thrilled to be here. Thank you so much.
CORWYN:
Oh, you’re quite welcome. So Jason, let’s get straight into I gotta let you give just a piece of who you are, where you came from, what got you here? And what’s your driver? So I know I’ve asked a lot. So I need to remind you to as we go through our will, but who you are, where you’re from, and what got you here?
JASON:
Absolutely. I’m happy to share my background. I have been working in tax elimination. I have been working in helping people build their wealth for 30 years now. I can’t believe it last Wednesday, I turned 50 years old. It is amazing. And every day is a blessing Corwyn. I love what I do. I am one of the luckiest people on Earth. And I really am thrilled to be here and my background starts really when I was a kid my grandfather worked for one of the largest real estate families in the world, the LeFrak family in New York, multibillionaires. And I had such an honor to grow up with my grandfather, and Corrine, I am blessed. I will tell you right now, my grandfather is 100 years old, still alive. I am one of the lucky guys. He’s been a tremendous advisor to me my entire life. He has been an incredible resource and taught me so much of what I know. And I actually dedicated the book to him Corwyn. I honored him that way. He’s been an incredible person in my life. And I learned a lot and there was a time I went off to Brandeis University up in Boston, and I wanted to study real estate, one of the study business was gonna become a real estate attorney. That was my whole focus. And it’s funny I never became a real estate attorney but I married my wife Dana is because I said I did it. I got osmosis. I got that experience a little bit by my career took an interesting path. I ended up graduating Brandeis and I got a job I had a year to kill before law school. I graduated college in three years, and I needed to kill a year and I got a job on Wall Street. I got a job at Cantor Fitzgerald and the World Trade Center in the 1990s. Well before 911 So Corwyn was there before the attack there and I was not there I left to join another company but it was an important event in my life Corwiy because it really showed me about this little bit of hard work part of life according to the law. A bit of luck. And frankly, you know me not being there, I lost so many good friends, I think I lost some of the fear that we all have Corwyn in life. And I basically am so blessed to feel that I was here and so many people were not. And I just went off, and I decided to do things that were in my heart, things that might have been against what other people might think, is the traditional view. So I went off to join the big hedge fund de Shaw, I didn’t like it that much. I ended up joining the LeFrak family, my grandfather introduced me and they said, What are you going to do here at this real estate company, and I said, I understand Wall Street, I’m going to give you guys some interesting ideas. So we started to do different things like trading the IPO calendar, secondaries, we looked at non traditional investment strategies, things that were not correlated to the real estate market where the family had all their wealth tied into. So we looked at hedge funds, and venture capital and private equity, all these interesting things. And I was involved in that. And then I said to myself, You know what, I really want to look at tax mitigation, because we really wanted to see is there a way of mitigating taxes, and they gave me some flexibility. And one of the ideas that I brought to the family was to wrap wealth inside of a life insurance policy. I know it sounds crazy, right? Everybody thinks life insurance, God forbid you’re hit by a bus, you don’t want your family in trouble. You buy some life insurance, they’re okay, they could stay in the house, they could pay the bills, that is important part of life insurance Corwyn. And I’m not saying that’s not a major part of it, it is. And you know, what anyone that is so selfish is to not to buy a little term insurance to protect their family, it’s so cheap, I always say to people don’t go out to dinner twice in a year and provide for your children and your spouse, God forbid something happens to you. But reality is there’s a lot more to life insurance than just that term insurance. And it’s unfortunate, Corwyn, many, very few people understand the power of what life insurance can do, especially for real estate people, especially, I’ve dedicated my career to finding opportunities to help people eliminate taxation, not just mitigate, but eliminate taxation, and find ways of really increasing their investment returns by utilizing some strategies that most people would say, Oh, that’s boring stuff, I don’t believe in insurance, I get you I get anyone that says that I’m not angry. I don’t believe in certain aspects of it, too. You know, term insurance is sold, because people will outlive the term. Most people don’t need it, you buy it, because that 1 million chance that you’re hit by a bus, that’s why you buy it. And a good person does it to protect their families, it’s very unselfish, because you’re not going to benefit from that. But on a selfish side, there are tremendous solutions that we can bring to the table to eliminate taxation for people, and allow them not only to make money in real estate, but keep that money in the family to create the legacy, like you said, and to eliminate the chance of having big swings in your net worth. So that’s my background. And we can get deep into the weeds on all these different solutions. But I just want to thank you again, for inviting me. And I’m excited to share these ideas today.
CORWYN:
Well, look, Jason, thank you so much for that. So what I heard you and one thing I pulled out of what you were talking about one little snippet a piece reminded me of book: Becoming Your Own Banker. So that’s that premise. So tell us how that plays in. And because again, life insurance policies, and I mean, money is designed to move this currency, I tell people, that means it flows it has to move, it travels from one place, if you will to another no matter how we may try, we can put it in a vault. But it’s amazing how money in a vault still manages to move. You see, I’m saying it goes into bank vault, but the bank lends it out, but it stays in the vault. Imagine that. So let’s pick a strategy man give us one that we can go a little bit deeper on than just a surface level on today,
JASON:
I’ll give you the most basic one that I think everyone who do invest in real estate should be thinking about. So what I say to people is everyone knows this term insurance that we were mentioning. But then there’s a whole other section of permanent insurance, these permanent policies, a lot of us might have heard about whole life insurance has a dividend like a bond. So you buy a policy, you have the death benefit as part of it. But the extra money that they asked you to put in gets invested in you can make five or 6% or whatever the prevailing dividend rate of the insurance company is. And the beauty there is it grows tax free. So for a lot of people who are looking at putting money in the bank and getting a dividend through a CD rate, or maybe a savings account, getting some interest problem with all those bank returns is they’re taxable, so you’re actually not going to keep every dollar so if you buy a CD for 5%, you’re given a lot of that away in taxes unfortunately. So one of the things that we recommend is for money that you want that is it looking for a bond alternative or something like a CD, you can roll that into a permanent life insurance policy and you can get that same five or 6% except that comes in tax free. So you can almost really dramatically benefit from that money. So if you’re a conservative investor and you like having your CDs at the bank, you got a big checking account savings account, given you some yield, that’s great. But we can enhance that yield by putting that money inside of an insurance policy. And by the way, you get the same benefit of that term insurance that if something crazy happened to you, your family’s taken care of, I always call it mortgage protection coverage, because who wants to leave your family with a big mortgage, now something happens to you the mortgage gets paid off, done. And then you can add another level to that you can say, in addition, the mortgage, I want all my taxes paid for my family for the rest of their lives. So you can leave a little extra. So these are permanent insurance policies that give people a benefit, like what I’m describing. Now, we can take it to the next level Corwyn. And let’s talk about something like the stock market. A lot of people say, I gotta have my money in the market. If my money’s in the market, I’m gonna make a lot of money. Yes, but you might lose money. So one of the things that a lot of people do not understand is that markets go up, markets go down. And when they go down, it’s not so much fun is when they go up. I think you’ll agree with me, right? Corwyn, not as much. Oh, cool. It’s
there’s a lot of people out there probably some of your listeners and viewers that they don’t realize that you can get the upside of the stock market without the downside participation. Yeah, it’s crazy. Some people say, Well, wait, I may have heard of that. But it’s capped, you have a limit to it. And that’s true, there are certain products that if thep S&P is up 20, your cap that nine and a half, that’s all you’re gonna get if it’s up a piece of that upside. And the only benefit you get is if the markets down. Like we know the market was down two years ago, 20% Plus, guess what, you’re at zero, you didn’t lose a penny. So for the people that want to smooth out their returns, we recommend holding their indexes, their stock market investments inside of a policy. So what’s amazing to me is people don’t know that there are indexes inside of insurance, which can grow tax free, and have no cap, you can actually get the full upside of a market index without any downside. And my question to you is, there are people that you and I both know that when the markets down, they’re crying, they’re depressed, they don’t go out, they won’t even go out to dinner, they won’t see him at Applebee’s, we’ll see him nowhere. These people are so depressed, they think the world’s coming to an end, they’re depressed. And I feel terrible for those people. They’re not meant to be in the stock market, frankly, if they can’t handle the swings. So what I say is find an index, which has no cap on the upside, but has protection. So if the markets down 20 – 30 – 40 – 50, let’s say the market crashes, we have a crazy event. Markets down 80%. There are products that are flat, they’re at zero, and I paid the world for that. Now, I have a lot of real estate investors that I work with. And they say, Jason, my money is going in and out of deals, I’m buying properties, I’m looking at different things. I see great, it’s I can’t be an insurance. I said wait a second, there’s an opportunity here. Because when you keep that money in the bank, you’re getting taxed. I know a lot of people, but what they do is they all their money that goes into real estate, they hold their money inside of life insurance. And when they need that money, they borrow against it tax free. And that’s when they actually when they borrow, their money is still invested in the stock market. With no downside, they get the upside, and if they borrow the money out, they’re gonna pay a little interest, but they’re paying it to themselves normally. Now their money is working in the market, they only get the upside, no downside, and they take the money out and they go buy their real estate. What do you think of that Corwyn? Have you ever heard of that?
CORWYN:
Yeah, so the Infinite Banking concept is impressive. And there’s such a tremendous opportunity built in there. In order it’s like you said to borrow against, you’re gonna pay interest, you’re paying interest back to yourself, you’re not paying the interest back to the bank, or whatever the other private investor may have given you money for this renovation, rehab acquisition, whatever it is that you may be doing in concept is written in a book is becoming your own banker building your own bank.
JASON:
That’s right. That’s definitely one part of it. Now, I’m gonna really blow your mind corpsman, we’re going to take hold
on no doubt. Anybody who’s listening and not paying attention pay attention right now because this is the meat of the conversation right here. Now when someone wants to get insurance normally they say to themselves when they want to buy a property, they say, Okay, I gotta put down 20 30% Thanks gonna be my partner on the rest. That’s great for real estate. Now real estate is not principle protected. As we know sometimes real estate goes up. There’s cycles where real estate values go down. Over time things go what’s amazing about some of these insurance structures core in it is the bank looks at, and they see that it’s principle protected, they see that it cannot go down in value, there is no potential for a loss. So what is the bank say, a lot of smart banks, they set out, they come out and they say, You know what, we don’t need your 20% down, we’re going to finance your insurance contract. With 100% financing, people don’t get this, they don’t recognize the bank’s gonna put 100% down for you, zero. So what does that mean, to me, it means to me that I say to the bank, how much do I qualify for, because this is going to give me tax free income later in life, this is going to bolster my portfolio, my balance sheet, when I go to a bank, and they say, We can’t give you more credit for more real estate development. Even if you come up with a 20 – 30%, we’re tied up, wait a sec, don’t worry, something happens to me, my family’s got a lot of money in insurance, and they’ll pay back this loan, we can even secure additional loans. And we can actually collateralize some of those loans with life insurance, the bank loves it when you give them life insurance as a form of collateral, because they know something happens to you, they’re not in business with your spouse, they’re not in business with your 18 year old kid, they’re gonna get their money paid back right away upon your mortality. So we really believe that financing, the most insurance that the banks will give you that the insurance companies will give you is the right move for every real estate investor, because they’re going to use that policy, not just to benefit their family, but to benefit themselves when they’re out there borrowing money from banks, this is what I call enhanced collateral, to allow them to get the most money from banks, because the banks are going to want that 20 to 30% down. But they’re also going to be nervous to have too much exposure, one entrepreneur, one real estate developer, and now you immediately calm the bank down by showing them that life insurance paid out upon your mortality, immediately, there’s no waiting for you don’t have to put a property up for sale, this stuff gets paid out 72 hours after you get your death certificate into the insurance companies right away. So the banks are comfortable. So what I want your listeners to think about is, what can this insurance do not just for my family, but what can it do for me as an entrepreneur? What can it do for me as a real estate developer or investor. So now let’s get into the meat of it. Okay, I’ve now said that someone should come out, and they should buy the most amount of insurance they’re entitled to, they should finance it with a bank, and they should end up getting that coverage. Now you’re gonna say to me, Look, it’s great to get a lot of money. But normally the banks want collateral, Jason. And you’re right, banks, do want collateral. Now, if you work with someone like myself, and I invite people to look me up, because I gotta tell you, I do things other advisers don’t, I don’t make my money just by being an insurance broker. If I did, I wouldn’t be telling you what I’m about to tell you. Because then I would mitigate or minimize my commissions fees. I guess. What I’m about to tell you is there is something that insurance brokers don’t like talking about. And I’ve actually had a few death threats. And I’m not kidding Corwyn, I’ve actually not in you know, at home, I chokan about that actually have some really nasty insurance brokers have tried to scare me from talking about the truth. And you know, you just mentioned my book demand transparency. That’s what I’m all about. So my transparency is to tell you that there is something called an Enhanced Cash Value Writer, what’s all that fancy word mean, very simply, the broker delays or mitigates or eliminates depending on the insurance company, the commission. And when they don’t get the full commission, you know, what happens? The policy itself has a higher cash surrender value, meaning that if we use that rider, and the policy gets issued, there are insurance companies like for example, big ones, like Lincoln Financial, they have a product that you can surrender to 100% of whatever you put into it. There are other great companies like national life, they have a contract, which can surrender to 91% of the amount that you put in and gives you tremendous upside. uncapped upside, like I mentioned in an index, they use the society generale pay center index, which is a great one, that index, you can get the full upside of that index with no downside. It’s amazing. And if you use the rider, then the insurance company, when you talk to them, you say, Look, my advisors willing to use a rider. What’s the surrender value on my contract? That’s 91% of what you put in, which means the bank doesn’t need a lot of other collateral, the main and use the asset that we’re financing as the main form of collateral Corwyn, that’s what’s so unique. Now if you use your cousin, your brother in law’s your insurance broker, he may not want to put that right or wrong because he doesn’t get paid the same money. So on Do your insurance broker be very sensitive, because this is how they make a living. And we don’t want to offend anybody. Like I said, I’ve gotten death threats, I don’t want to piss people off. But the reality is corwyn, this product exists, lawyers using accountants use it, a lot of financial advisors use it, because the insurance broker makes a lot of money when you sell a policy. And if you use the writer, then I can make as much but frankly, it’s very good for the client gets a policy that surrenders to an amount close to what they put in. So the bank says to the client, you don’t need to post much collateral. Why don’t you buy a little CD to cover that collateral shortfall, maybe get a little letter of credit, but there’s no big pressure to come up with a massive amount of collateral, which means somebody can get a huge amount of life insurance. This life insurance is again, not just about the death benefit, we’re getting the upside of the stock market, we’re getting no downside. Asset protected from creditors, Corwyn, this is God forbid you ever have trouble with your spouse, and not to be divided up the courts respect life insurance, and they leave it alone. So I don’t know if your marriage is gonna work out. It’s a great product for families still taking care of your ex-spouse, they can be a beneficiary, he’s still taking care of your kids. But you may not have lined up your funds right away the way you otherwise might in a normal divorce. There’s so many benefits to this. And this is why I say to real estate people, you are going to be correlated to the real estate market. If all of a sudden there’s a problem in multifamily, you may have a little problem. Look at the guys that are invested in office space. They’re not having fun right now, let’s be realistic. up time, we’re seeing a lot of vacancies and occupancies. And these people are struggling to pay the money they owe bank, some people unfortunately, as we know, we’re going to lose their office buildings. Reality of a cycle, we’re going to bank on that nobody, it’s not their fault. Nobody could have predicted COVID We can’t say anything. There’s nobody to blame. The reality is the reality. What I like is you take a guy with assets today, a woman who’s got a portfolio of real estate, and I say to them, you have an asset you don’t know you have the asset is because you own real estate, because you were smart enough to build that legacy for your family. You have another asset you could leave your family and help yourself with because you own real estate, the banks respect you. The banks want to work with you. So you go to that bank and you tell them, I want to buy more property, you tell them about the 1911 Supreme Court ruling Grisby vers Russel, and the famous jurist, Oliver Wendell Holmes ruled life insurance is property, no different. And you go to them, I want more property, I want to hedge my exposure property, I want life insurance property. And I’ll tell you something, those people who are smart enough to do that, they’re going to get a bank that’s going to finance 100% of what they need to pay for those premiums. And they’re not getting some small policy, they’re getting a 510 20 $50 million policy, you can get up to $500 million dollars in life insurance, depending on your net worth. And we help people get the most that they qualify for a very good at that. And why do we do it, we do it because they have this asset, they don’t realize they have an asset with premium financing, they can definitely leave a legacy, not just in real estate, but now they’re gonna leave a life insurance legacy. And they’re gonna use this insurance in order to get more real estate. Because that’s what a bank wants, a bank wants excess collateral is all part of the same conversation you’ve been having with your listeners and your viewers, we are all part of that same vision, which is to leave a legacy for your family. We do it with real estate, and we do it with life insurance properties, same asset, both property. So that’s another strategy. We call that premium financing. We’re going to go to a bank, we’re going to get the most somebody qualifies for. That’s the foundational strategy that we believe in Corwyn. But it’s just the beginning of the work that I do for my clients. You know, it’s step two is step two, step two is to say them, wait a sec, we’re not just going to do this with a great product like Indexed Universal Life, we’re not going to just premium finance, we’re now going to take it to a whole new level, something that people don’t know about. And when I meet with someone’s attorney, and I meet with their accountant, and I meet with their financial advisor, 99% of these guys and ladies don’t know anything I’m talking about. They’ve never heard about this. I’ve been doing this now since 1999. And these people still don’t know what I’m about to tell your listeners. And it’s frustrating, because we all want to think we’re the smartest person in the room that very few people, especially people in finance are too humble, they feel pretty good about themselves. And when you bring them a new idea, you know what their first reaction is? Their first reaction, I don’t work. No. And then they figure out why No, but they got to say no, because they didn’t think of it. And I’m tired of that. And that’s why I wrote the book. Because I want these people to read the book. I want them to go and understand In this stuff, because if they understand that they’re going to know their clients deserve this information, here’s where it is. This is very simple. I’m going to break it down as easy as possible. And I think everyone’s going to understand it. Corwyn, what we do, is we wrap real estate inside of life insurance, I’m gonna say it again, because not everyone’s gonna understand what I say, I take a property, you take a property you go, you find some great multifamily or you want to buy, wait, don’t buy it in your own name. Don’t buy it in an LLC, don’t buy it in a trust, all of those entities are taxable. When that rent roll comes in, who’s the taxpayer, the trust is a taxpayer pays cat Gades pays taxes, you’re an LLC, great your analysis, you still pay taxes every year, you’re a trust, you still pay taxes, even if you’re a trust, the only tax you eliminate is the estate tax. For your kids, you did a good job for other people, but not about not yourself. My strategies help the families but they also help yourself. So what am I talking about? What do you mean by it inside the life insurance? It’s exactly what I’m saying. You can actually create another life insurance policy. This life insurance policy, has death benefit inside of it, of course, but it’s got a whole nother utility, a whole nother reason to exist. It’s not just to protect your kids. It’s not just to protect your wife, this insurance is to protect you from taxation, because in this policy, you have to hire a money manager, you have to hire a professional. You can’t do it all yourself. That’s one of the negatives here. Look, there’s no free lunch in the world. You can’t just say everybody pays taxes, and I don’t know, you’re not going to pay taxes on the rent roll in a building. It’s because you did something different. What did you do? You didn’t pay taxes, when you built that building up? You went from 50% occupancy to 100% occupancy, and you sold it, and you made a fortune? If you hold it in your own name, you pay cap gains, you pay, you gotta pay taxes, guess what? What if you don’t own it in your own name? What if the owner is not a trust where you eliminate state taxes, but you don’t eliminate cap gains taxes? What if it’s not an LLC the way most people buy their real estate? What if it’s not in your individual name? What if your money manager finds a great property for you? And your money manager buys the property and buys it inside of your life insurance policy. Guess what, you build it up and it’s built up and your money manager sells it. And you made a million bucks, that’s a million bucks tax free because life insurance never gets taxed. Cash Value build up is not a taxed asset. That entity is not subject to taxation. And you might say to me corn, how do I benefit as my family benefit? If I made a million bucks, it’s locked inside the policy. I’m gonna remind you, every life insurance policy, cash value policy, most restrictions every but to everyone I know about allows you to borrow from that cash value. And if you do it right, you borrow tax free. You access that money. Now I’m talking about all these great things. But I would be really remiss if I didn’t point out the negatives are your listeners may be used to going out and buying that property and going over to it managing it day to day collect. That’s active management. That doesn’t work here. Unfortunately, in this situation, if you do that, does that violate the rules of managing your own cash value? You can’t do that. The only way that this works compliantly with regulations is if you hire a money manager, that money manager manages the property. So you really would have to hire a firm, a management company that’s managing it, you don’t want to do that the strategy is not for you. And that’s fine. Go manage all your properties you want. But why not scale? Why not build more, you can’t manage 100 properties. So you’re going to buy buddies, they’re gonna do a deal. Make your PPLI policy, invest in your buddy’s real estate deal. If you trust your friend, let him run it. That’s compliant. You’re not managing it. And you need to diversify. That’s the other thing I got guys is adjacent I can’t do this. I’m buying this massive 20 storey buildings multifamily apartment house this is going to be my biggest deal. I’m selling everything to buy this doesn’t work in PPLI you need diversification, no more than 55% of the assets and your policy can be in any one investment 70% 90 to 80% and any three investments 90% in any form, you end up with five investors. If you can’t live with that is not for you, my strategy, but if you can live your life with no taxation on that rent roll, no taxation when you sell that building, because you’re not selling it, the owner of that building is your policy and your money managers selling. And yes, you can give a little insight. But you can’t control this thing day to day. But this is life altering for your real estate investors, if they have started, they can meet the criteria, they’re comfortable with what I described, then there is no reason to pay taxes on your cap gains when you were successful in an investment. And you could do this not just in real estate, you can do this in hedge funds and venture capital private equity. I know a guy he’s got racehorses that he races at the track. And he’s an investor with another group that runs it. But it’s compliant. He’s not actively managing these horses. He’s just an investor. So now he’s no longer an investor. The new horses he bought, they bought those policy, he introduced the money manager to a guy that’s very successful, that business that was compliant, if done. So these are some of the ideas Corwyn and unfortunately, on this one spot today talking with you, I can’t go through all the ideas, but I want to do a good one. I want to you know, invite your listeners to reach out to me if they want to, I’m happy to talk to them. I have a website called the Mandel family office, they could visit it, they can read stuff. If your listeners use LinkedIn, I publish a lot of stories and ideas and strategy right there on LinkedIn. They can type my name in there, and they can see it and I’m happy and if they go to Amazon, they can get a book. I’m not looking to make money. We’re donating all the book sales to charity, and we’re giving everything away. This is not the purpose to make money to share ideas, Corwyn. That’s why we’re doing it and actually have a digital version of the book I sell for 99 cents, because I want everyone to read this. I think it’s crazy to invest with so much risk. I want people to lower their risk and amplify their returns and lock in the legacy. Don’t just build that legacy to see it taken away from you. Lock in the legacy. That’s my main message to all your listeners.
