Automate Savings and Supercharge Your Wealth

Nothing will make you more money than investing in yourself.

Whether that’s your mindset, your skillset, or your business.

Often, we are taught that we can save our way to wealth. However, saving X% of your income alone and throwing it in a 401(k) or IRA isn’t going to cut it for most folks.

The best thing you can do to build wealth and create financial stability for you and your family is to increase your income, as much, and as often, as possible. Then, with that income, buy or build income streams that will pay you without you needing to be present 100% of the time. That’s when freedom begins.

However, for those who want tips and tricks on “saving your way to wealth”, I’m confident that the information I’ll share can get you where you want to go.

Here is the issue most people will face when trying to build wealth: their lifestyle expenses will tend to increase proportionally as their income rises. This is commonly known as Lifestyle Inflation. It’s one of the largest causes of even the highest of income earners still living paycheck to paycheck — between the mortgage(s), car payment(s), lavish vacations, etc. money seems always to find a way out of your bank account. 74% of Americans DO have a budget [according to Nerd Wallet], the problem is that the budget changes regularly, and usually increases as income increases, as mentioned before.

You need to have a plan to help prevent Lifestyle Inflation from taking a monstrous bite out of your financial future. Enter the Wealth Reservoir.

You probably know what your monthly nut is — how much money you need to spend month in and month out on expenses to maintain your current lifestyle.

Now, imagine you had a way to direct deposit that exact amount of money, predictably and reliably, every single month, AND be able to save the excess in a separate account preventing you from spending every last penny you’ve got because ‘payday is only 3 days away’.

That’s the power of the Wealth Reservoir.

The process looks like this: Your income [from one source or many sources] is deposited into your Wealth Reservoir FIRST. This account will collect every penny of income you receive. Then, you set up a routine payment to be deposited into your spending account [however often you’d like — once a month, bi-weekly, etc.] to cover your ‘nut’, leaving any extra dollars over your monthly expenses in your Wealth Reservoir to add up month after month.

So what does this look like in practice?

Let’s say you bring in $9,500 per month. All said and done, you know you need $8,000 to make ends meet. Right now, you’re likely seeing most of that $9,500 leave your account each month.

How powerful would it be for you to have an extra $12,000 per year — to put into investments, take a vacation, give back to charity, etc.? All it would take is to save $1,000 a month. The Wealth Reservoir will do that for you.

You’ll get $8,500 deposited into your spending account each month, $500 more than what you need to make ends meet, leaving $1,000 in your Wealth Reservoir. You’re living comfortably, you know you have enough to pay bills and maintain your lifestyle, AND you’ve got $1,000 a month stacking up in your Wealth Reservoir automatically. It’s that simple.

The real power comes when your income increases, and the amount staying in the Wealth Reservoir each month grows, but your spending account deposit stays the same. It allows you to make CONSCIOUS decisions to increase your spending rather than routinely spending most of the dollars that show up in your account each month.

The money saved up in the Reservoir can be withdrawn at any time, and used for any purpose. Of course, it would be wise to put it towards something that will get you ahead financially. Which brings me to my next point…

I’ve got a question for you, one you might not immediately know the correct answer to…

What is your single largest expense? What one thing takes the most amount of money out of your pocket each year?

It’s a sneaky expense, one we like to complain about, but don’t often think about or mitigate.

Most of you probably said your rent/mortgage, and some of you will be correct. However, for the majority of people, the correct answer is: TAXES. And if taxes isn’t number 1, it’s number 2, and it’s usually not anywhere close to whatever falls into 3rd place.

This is important because taxes can be the single greatest detriment to the long-term success of your financial plan and overall comfort and quality of life during retirement.

What if I told you there was a way you could ensure your money grows tax-free, AND you are able to use your money while still having it earn interest for you? This is the power of the AND ASSET — Whole Life Insurance.

Insurance gets a bad rap. All the Dave Ramsey’s of the world are chomping at the bit to tell you to buy term and invest the difference.

What they all fail to realize is the power of utilizing life insurance, not as an investment [because it isn’t one], but as a savings vehicle, which it is. The IRS classifies life insurance as savings and even puts a cap on the potential gains [the MEC Limit] giving insurance its tax-exempt status.

When you use a whole life policy as a savings vehicle, you guarantee yourself a rate of return higher than any savings account AND ensure your money will continue to grow and compound uninterrupted forever.

How does it work you ask? Policy loans.

You can access the cash value in your policy via loans [think HELOC or mortgage on a house], and the cash stays in your policy to grow and compound while you use the loan to service your needs [investments, business expenses, real estate purchases, etc.].

They say compound interest is the 8th wonder of the world, but most never get to benefit from its full potential because of early withdrawals, management fees, and taxes.

A max-funded whole life policy ensures you can partake in the wonder of compound interest.

I dedicate my daily responsibilities to teaching people how to supercharge their wealth strategy, pay less in taxes, and keep more money for themselves and their families.

If you’re curious about how you can set up a Wealth Reservoir for yourself and get your financial life on track, I’d invite you to book a call with me so we can talk through your specific situation and what best next steps you can take to ensure you’re on the path to prosperity.

Here’s to your continued success 🚀