The Multifamily Broker Podcast
Business:Investing
Ep. 142 How To Make Passive Income With Life Insurance Policies with Tom Laune!
Today, Tom Laune joins us on the Get Out of The System podcast and shares his financial strategy called "bulletproof wealth". His strategy involves saving money in a life insurance policy, which can be borrowed against to invest in other ventures. He discusses how whole life insurance policies can lead to a 100% rate of return! The strategy is best for long-term goals and is of interest to real estate investors.
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Connect with Tom Launer-
Website: www.bulletproofwealth.info
Facebook: Bulletproof Wealth Strategy
Twitter: @BulletproofWealthStrategy
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Translation: "So I have this financial strategy called bulletproof wealth. And, it has been something that has been a real passion of mine for. Gosh, it's going on 10 years that I've been doing this and I got into this, Jason from a really kind of wild background. I was in the music industry. Ok. So I was a mix engineer and producer and I remember way back in the day my doorbell ringing one afternoon and I opened the door and there was my financial advisor standing there with a very troubled look on his face and I was like, ok, come in, I want to know what in the world is going on and he really started to go through this story that blew my mind about how he was actually defrauding me and he started crying and begging me not to turn him into the authorities. And I was like, oh my gosh, this cannot be happening again because Jason, this wasn't the first time that I had a financial advisor, you know, defraud me or the second time, but this was the third time, ok, that this had happened over 29 years in the music business. So I had three out of four financial advisors turn out to be fraudulent and two of the three of them ended up in jail. so I decided 10 years ago when I made a career change because of a partial hearing loss, I had a partial hearing loss that had made it. So I couldn't do my job in the music business of mixing records. That's what I mostly did. And I was working with really high-end artists like Bruce Springsteen and Rem and just really, you know, I had a great 29 year run in that. But, I decided to do something about it changed completely. I heard a podcast about saving money and life insurance. And I was like, hm, this is cool because you can use this money that you save in life insurance like a bank. And, I had money, but I was saving that obviously in a traditional bank. And I knew that there had to be a better way because all I was able to do was either have the money in the bank or have it in an investment and there wasn't any other two ways to use it. So I spent many years going back to school to learn all about this strategy. And basically I went back, I had three degrees back from when I was in the music business and I decided to go back and, and learn more. I'm really a big fan of education."
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