Unlocking Wealth for Future Generations

The Right Way to Make Your Kids Millionaires (Only 1% of People Do This)

Estimated read time: 1:20

Summary

In this podcast episode featuring Chris Naugle and special guest Laurel Langmire, listeners are guided through the intricacies of securing a prosperous financial future for their heirs through strategic trust and estate planning. Laurel shares her vast experience in educating and mentoring people to not just create wealth, but to preserve it for generations. The conversation explores innovative ways to manage money and the importance of teaching financial literacy from a young age, aiming to lay a foundation for lasting family legacies.

Highlights

Chris Naugle and Laurel Langmire discuss how to create millionaire children through smart trust structures. 💸
Laurel shares her journey from a Nebraska farm girl to a global finance expert and millionaire maker. 🌍
The duo emphasize teaching financial literacy to children from a young age to secure a prosperous future. 📚
Laurel describes her method of using family trusts with strategic language to maintain wealth across generations. 🔐
The discussion includes why most people fail in estate planning and how to get organized. 🎯

Key Takeaways

Understanding the difference between being rich and being wealthy: Wealth is about long-term preservation, not just accumulating money. 💰
The importance of setting up a trust to avoid probate and protect assets: It’s more than just having a will. 🏦
Teaching children and heirs about money management ensures the longevity of a financial legacy. 🧒
Trusts need carefully crafted language to ensure wealth is used wisely by future generations. 📜
Building a legacy requires organization, clear goals, and educating the next generation on wealth management. 🏆

Overview

Chris Naugle hosts a captivating discussion with finance guru Laurel Langmire, delving into innovative strategies for raising financially savvy children who could become millionaires. 🎙️ Through careful trust planning, Chris and Laurel share timeless methods of wealth preservation to secure your family's future beyond your lifetime.

Laurel Langmire’s inspiring journey from a small-town farm life to a globe-trotting financial expert is a testament to her dynamic skill set and relentless drive. She brings to light the paramount importance of educating heirs on financial stewardship, ensuring they value and grow the legacy left behind. 🌟

With practical advice on how to set up functioning trusts that guide heirs in using their inherited wealth wisely, this episode is a treasure trove for anyone eager to design their financial legacy. From the significance of avoiding probate to crafting strategic wills, learn how to shield your wealth and promote enduring prosperity. 🛡️

Chapters

00:00 - 00:30: Introduction to Trusts and Legacy This chapter introduces the concept of trusts and legacy planning, focusing on the importance of structured planning to ensure a seamless transition of assets and responsibilities after someone's death. It highlights the idea of having a 'power of five' strategy, which emphasizes the need for clarity and organization in trusts, allowing heirs to manage their inheritance effectively without unnecessary legal hurdles. The chapter also discusses the common lack of foresight among individuals regarding their long-term planning, underscoring the pivotal role of trusts in creating an organized plan that can prevent chaos for heirs.
00:30 - 01:30: Welcome and Guest Introduction The chapter introduces the host, Chris Nogle, and sets the stage for the Money School podcast episode titled 'Welcome and Guest Introduction.' Chris highlights the core theme of the podcast, which is about controlling money. He then introduces a friend, a guest with a history of traveling and business-building, who has continued to successfully create millionaires and impart financial education even after leaving the road life.
01:30 - 06:00: Guest Background and Career Journey The chapter introduces a guest who is a global wealth expert and a six-time New York Times bestseller. She is the CEO of Integrated Wealth Systems with extensive experience in finance and mentoring since 1996. Her expertise covers various fields including real estate, business acquisitions, oil, and gold. The discussion aims to reveal truths about money.
06:00 - 13:00: The Importance of Trusts in Wealth Management This chapter discusses the crucial role that trusts play in wealth management. It emphasizes the distinction between merely being rich and achieving true wealth, highlighting that true wealth involves strategies to retain money rather than just accumulate it. Expert Laurel Langmire talks about effective wealth management techniques, focusing on how to preserve financial assets rather than letting wealth slip away. The discussion is part of a podcast episode featuring host Chris, and the episode touches on past meetings and events.
13:00 - 23:00: Strategies for Effective Wealth Transfer The chapter titled 'Strategies for Effective Wealth Transfer' reflects on the changes and challenges that occurred during the COVID-19 pandemic, particularly focusing on the abrupt shift in professional engagements due to social and economic disruptions. The narrative shares personal experiences of adapting to the cancellations of in-person events and televised appearances, with an emphasis on how these affected career dynamics and necessitated innovative strategies for wealth management and transfer amidst unforeseen circumstances.
23:00 - 29:30: Economic Concerns and Recession Preparation The chapter titled 'Economic Concerns and Recession Preparation' discusses strategies for financial success, including leveraging online platforms. Laura Langmire, known as the millionaire maker, shares her experiences in relaunching her book and brand, focusing on staying home to teach financial principles. Her journey includes extensive global teaching and a commitment to providing her children with a unique upbringing.
29:30 - 35:30: Opportunities in Economic Downturns The chapter explores the concept of finding opportunities during economic downturns. It highlights the transition of an individual from working on a Nebraska farm to operating one of the largest cannabis farms in Nevada. Despite the challenges in the economy, this transition showcases how one can leverage their background and adapt to new industries to create success. The chapter also touches on the shift from a life on the road to a more stationary business model, emphasizing the importance of adjusting business strategies in response to changing economic conditions.
35:30 - 45:00: Practical Advice for Financial Challenges The chapter discusses adapting to changes caused by the pandemic, focusing on the theme of personal and professional recreation. The speaker shares experiences of getting off the road during the pandemic, focusing more on digital platforms like YouTube and social media, which led to significant success. Meanwhile, the return to travel has proved to be a challenging adjustment, highlighting the physical and emotional demands of such a lifestyle. The narrative underscores the need for practical strategies to manage these financial and personal challenges effectively.
45:00 - 54:00: Final Thoughts and Offers In this chapter, the speaker reflects on the challenges of life on the road, particularly emphasizing the difficulty in maintaining good health and sleep while traveling frequently. They share their experiences with performing or working at various events for a few days at a time, noting the endurance required to keep up with such a lifestyle. The speaker identifies themselves as a money expert within certain communities, highlighting their selective engagements with real estate and other specialized groups. Ultimately, they express a sense of fatigue and anticipation to return home after being on the road, even for a short duration.
54:00 - 57:00: Conclusion and Resources The chapter discusses the endurance required for frequent travel, especially for those involved in numerous shows weekly. The speaker reflects on the demands of living on the road, implying that while travel is often romanticized, the reality can be exhausting. There's a mention of preferring more selective travel experiences in the future.

The Right Way to Make Your Kids Millionaires (Only 1% of People Do This) Transcription

00:00 - 00:30 I always say there's a power of five in what should be a legacy and a trust setup. The goal of a trust in my opinion is to get in and out of court upon someone's death as fast as you can. Retain all assets, retain bank accounts, retain total activity. Most people don't even know what they want this month, much less a year, much less a lifetime, and much less a legacy. Upon death, depending on how people lived it, the heirs, especially the immediate, they either inherit a mess or a pretty organized system of planning and
00:30 - 01:00 [Music] wealth. What's going on everybody? Chris Nogle back with the Money School podcast where we talk about money, but more specifically, how to control your money. And that's what we're going to be talking about today. I've got a friend of mine from way back. Somebody that I used to see all the time on the road, but she got smart and got off the road, but she didn't stop building businesses. She didn't stop making millionaires. And she certainly hasn't stopped teaching
01:00 - 01:30 people the truth about money. And that's what we're going to talk about. But let me just give you a couple accolades about my guest. First off, a wealth expert, but not just regionally, globally. six-time New York time bestseller, CEO of Integrated Wealth Systems. She's been in multiple areas of finance and mentoring since 1996. Everything from real estate, business acquisitions, oil, gold, and lots more. But one of the best things that she teaches is right in line with what we
01:30 - 02:00 do. It's how to make money, how to invest money, and most importantly, how to keep money. Because we're not trying to teach you how to be rich here. We're trying to show you how to be wealthy. And the biggest difference between being rich and being wealthy is the wealthy have figured out how not to give the money back. Let me welcome to this podcast Laurel Langmire. Welcome to the show. Thank you. It's great to be here. It's good to see you, Chris. I think the last time I saw you was was San Diego with Scott and I think it's been years
02:00 - 02:30 that pre-COVID postcoid. I think it was pre-COVID, right? It was. Yeah. Yeah. It was definitely It's funny how much time has passed since the pandemic, but yet it still feels like it was yesterday. I know. You know, I came off the road March 7th, 2020, and as you know, I was all stage TV, stage TV, Dr. Phil's Money Expert, did all that. Uh, and then, you know, you arrive home and 29 stages cancel, every TV show cancels, and you're like, what am I going to do? So, uh, we went in armed forces to, uh, go
02:30 - 03:00 armed forces with a whole bunch of online social, uh, folks and taught us how to get it done. And we have a massive YouTube channel. So, it's Laura Langmire, the millionaire maker, right after the main book. We relaunched the book, we relaunched the website, we relaunched the brand, and uh, we've just uh, chose to stay home. Um, I said I'm going to, you know, I gave a lot of years, six continents, all about Antarctica. I've taught all over the world. took my kids everywhere and these last five years I can tell have been
03:00 - 03:30 amazing and uh we'll talk on another podcast not today about my cannabis farm. So one of the largest acreages of farming here in Nevada and I've been doing a lot of that. You know I was born a Nebraska farm girl and now I'm probably going to die a Nevada cannabis farm girl. So it's a it's a funny transition. Chris, I'm off the road for the most part. But I mean, there's still some, you know, special friends and folks that I'll go out and do events for. But as far as the Road Warrior and getting a private plane again to go everywhere and do all that that those
03:30 - 04:00 days are over is I just I'm enjoying being home a lot healthier, too. Yeah. Well, I can speak to that. I mean, I I have not, you know, during the pandemic, it's it's funny how you talked about recreating yourself, but that's what, you know, all of us do is we create, right? And you recreated yourself, but you got off the road and you stayed off the road. Now, I got off the road, did the same thing with the YouTube channel, all the social media, leaned heavily into that, had massive success, but I've been back on the road, and it is killing me. And I don't mean that literally. I mean that actually. It is killing me.
04:00 - 04:30 So, I got to figure out how to get off the road eventually. You drink out, you don't get good sleep, you're in different hotel beds. Like, there's a there's an endurance and a capacity. Don't you notice like to build to even be able to do that? Like I look at now I'll go out to one show. It might be two or three days. Like I'm a I've been a a money expert. So very selective communities. So I'm a money expert in some big Cairo communities. Got some different real estate communities. So I'll go to them. But it's interesting when you're on the road even for three nights in a row. It's like I can't wait
04:30 - 05:00 to get home. You know, you really had to build up endurance because I look back Chris and I think the days where I was doing probably I mean I saw you all the time back three to five shows a week is not uncommon. I mean sometimes four or five and sometimes all day. The capacity and the endurance to live on the road. I don't think people they always say I'm gonna travel. I can't wait to do it. You and I are like been there done that. I mean I want to do highly selective travel my way. And uh anyway but I will
05:00 - 05:30 do this till the day I die. That's one thing Bob Proctor taught me. You know I wrote um which I didn't I didn't tell you this. I got the last endorsement of Bob Proctor's life right there. What a great man. uh four days before he passed and I remember talking to him about this um because he's been around during the birth of both of my children and I mean he's watched me grow up since I was 21 years old. So, what a great man he was. And he said, "You know, if you love it as much as I love it, and I know you love what you do," he said, "Just do it till the day you die." And then 4 days later, he did. I was like, "Wow." So,
05:30 - 06:00 that's my new commitment, too. I love being hight touch with my clients. I let them all my clients get my cell phone now. So, I just have more time to be more mindful um about the work. And uh obviously my cannabis farm is a is a huge other reason that I did stay home is uh it's my farm's two hours away from where I live and it's a massive commitment to be out there. But I'm excited. Yeah. So let's dive right into this. You know, there's very few people I can have discussions like we're going to have today. And folks, just so you know, when I start these podcasts, I
06:00 - 06:30 never have a direction. I didn't spend time offline, you know, outside of the talk and travel with Laurel about what we're going to talk about. We just go. But we've been doing this money education for so long. It's just a great conversation. So, you've helped 10,000 clients. You're now a 7 figure earner. But the thing that most people listening to this want to know is where did you start and how did you get to this point? What was the journey like? So, let's just start there. What was your journey? I know you know farm girl from an early days, but how did you become the the
06:30 - 07:00 millionaire maker and how did you get to this place? Version to know, right? If you had ever told me farm girl from Nebraska would be doing this, first of all, I'd say you're out of your mind. There's nothing. I had no interest in any of that. I was uh very 4D and FFA and agricultural centric and rodeoed with my dad and my my family and so you know no none of that life um did play basketball was a huge music a lot of people don't know that chapter of my life I played French horn for 14 years so have a huge musical background
07:00 - 07:30 so I had two choices to go music or athletics in school so uh I went athletics anyway at at 17 Chris was my first personal development workshop right the basketball team all went and I saw Dennis Weightley. He was the keynote and you know he was one of those you know old school guys were like run to the front of the room and get your stuff. So guess what book I got when I ran to the front of the room at 17 years old? Think and grow rich. So that was my definitive like I remember vis vividly reading consuming it multiple times like
07:30 - 08:00 there this is like this is a life like this is the cool you can do in your life. Like I was like wow like you can totally do whatever you want. You can think like you want, you can decide like you want, you mastermind, the team approach. So instead of going to school to be a lawyer because I love debating, um I just I changed to business finance and got a bachelor's degree. Uh got went to an investment bank for about not even a day. Seriously, I'm like this is it was too long. A day is too long in
08:00 - 08:30 investment banking. I think it was like four minutes really. Like I really was like I mean everybody's in stuffy suits, you know, and this was in the 80s. I'm like there's no way. and they live everybody like takes a 10-minute break and then has lunch. It's like eat when you want like do what you want. Like this whole like that whole thing was weird to me. So went back to school, got my masters in exercise physiology. So the first chapter, most of my 20s, I uh was in corporate wellness, had a very very lucrative uh personal training, aerobics instruction, did this whole certification program, and then Chevron
08:30 - 09:00 found me when I was 24, and I did a multi-million dollar contract to build uh 272 fitness centers on offshore oil rigs. So I moved to New Orleans. I flew offshore in a helicopter almost every day. um which they said you better protect your hearing cuz here you know years later in my 50s I have 31% loss and 27% loss from those lovely days in my 20s that I didn't pay attention to what older people said you guys should really pay attention to us older people because you know history wisdom so uh
09:00 - 09:30 then I don't remember then I met Bob Proctor and I just remember I was like Bob I want to get back to that whole money conversation the think and grow rich and you know when he's Napoleon Hill you know junkie right I mean he recite Napoleon Hill. You know, Bob could if you guys don't know Bob Proctor, the man is was a legend. Is a legend. And so he said, "Well, I think I have a transition for you." This was 1996. So, fast forward a lot of years. Um, I ended up living in San Francisco, traveled all over the world for Chevron, um, building fitness centers. So, I knew
09:30 - 10:00 that I got the travel bug during those eras. Um, and so I knew that whatever I did do and when I became a parent, I was going to travel with my kids a lot because I didn't have that experience. Anyway, so Bob said, "Well, you got to get on a plane tomorrow and go to to Scottsdale." And he said, he said, "You're going to sit at a woman's house, Sharon Lecter, and you're going to make a deal for this game they have because they want to focus on the book called Think and Grow Rich." And I'm like, "Whatever. I'll just do what Bob says because that's what you do." So I jumped
10:00 - 10:30 on a plane. Do you even know this story? Have I told you this story? Yeah, I've heard just you told this I think we were in Arizona when I heard this story about Yeah. this first this first initial game visit if you will. Mhm. So I'm sitting around a kitchen table and so I I go in as a you know exercise physiologist for Chevron and I walk out the master distributor of a game. You talk about identity crisis and I'd been you know by then I had I became an employee of Chevron. So to to jump back in the entrepreneurial world was so freeing but also a little daunting you
10:30 - 11:00 know was you go from a lot of structure to now you have to create your structure create marketing create sales and I mean create it all again so that's what got me back over here and then in 1999 became a real estate millionaire and uh McGra Hill found me offered me a three figure a threebook seven figure deal just to do this and two other millionaire maker books so it's a series of three it's this one cash machine for life is how do you build a sevenf figureure business and then wealth cycle investing is how do you invest in all
11:00 - 11:30 alternatives gas and oil real estate mineral rights water rights aviation like all the things right that wealthy people do uh insurance where you are heavily um so it's huge uh and I'd say the rest is kind of history otherwise I've made about 10,000 millionaires and then once my kids got to be adults 18 and 25 today I wrote how I did this with to them with them uh so it's been fun. It's been an interesting journey and you know I'm spending a lot of time now showing you all my little goodies on
11:30 - 12:00 legacy. So, how do you create now that you know you like I'm sure you're the same with your family, right? You you you get the kids, you do them a certain way. When they become adults at 18, they both got LLC's for their birthday. And um we we just keep building and then, you know, creating a legacy for them and their kids and their kids and their kids and their kids. And what I don't want is the statistic of 2.6 six years is the average statistic of what a legacy how
12:00 - 12:30 long a legacy stands which means your grandkids blow it because there's not enough direction in the trust. There's not a direction on where you know the insurance is funding into the trust. How how they have to behave to access the money. Is it uh a non depletion trust? I mean there's just a lot about how do you actually keep the legacy going because most people blow it because they don't train their kids. And that's a huge huge initiative that I have right now is uh if you're going to inherit money, you better do it right and into the right structure so you don't get a killed in
12:30 - 13:00 tax cuz it's not planned. Um and you actually have a legacy for your family. So I'm enjoying it. I'm having a lot of fun right now in the content with the clients. I love they get my cell phone. Uh we just, you know, we just we just had last a week ago today we are finishing Monday and Tuesday last week 28th and 29th of April. We had 300 people in a room for our 25th anniversary of my big table. So that's where million the millionaires are made. It was so much fun. So when it's like
13:00 - 13:30 your own gig, it was it was really fun. It was awesome. Let's talk a little bit about just because you brought it up trust. You know, in the you know, a lot of people and I'm seeing this more and more now than I've ever seen it. You know, there's a lot of people out there pedalling trust, and I know you have a trust company, so you can speak with a lot of experience on this, but people literally think a trust is a a magic thing that like you just you go out and you buy a trust, and everything's done. But it's more about what language is in the trust. Making sure that you have the proper trust structure for your needs
13:30 - 14:00 and goals, which most people don't even know their needs and goals before they buy the trust. They're just sold this bill of goods, I guess you would say. And I know you're seeing this, but let's talk just a little bit about the language because I spent months creating my trust structure, but it didn't take months creating the trust structure. That took about 10 minutes on a piece of paper. What took all the time is figuring out how I want my wealth that I have built during my lifetime to pass on to my children and my spouse. But then not just how it passes to them, how it passes to then their kids and then their
14:00 - 14:30 kids and then their kids and how all of them, you know, this was my goal. I wanted to make sure that every kid ever born into my my name, my family would remember Grandpa Chris. And how I do that is my trust is the language in there makes it so that every kid on their birthday gets a check from Grandpa Chris. And there's no better way to make sure that everybody remembers your name with than every year they get a check from grandpa, a grandpa that they never met. But the language is so much more
14:30 - 15:00 important than just that check. It's it's how they can't squander the wealth in the second generation or third generation. So, can you speak a little bit about how you or just how you've helped clients structure trusts and the mistakes that are being made out there because all you ever hear anymore is trust structures so that people pay no taxes. And I went down that rabbit hole and I had to unwind a trust structure which cost me in excess of hundreds of thousands of dollars unwinding it because I was given bad advice. Are you seeing those same things? Huge. And you
15:00 - 15:30 know, I I football is my favorite sport. My son played D1 football and but now like uh Sa is Safford and his wife are pedalling. I mean, let's be honest, they're paid spokespeople. So again, people have no no clue what TV is. It's entertainment. When I was Dr. Phil's money expert, and I'm just going to back pedals because I call it the 99 cent store. There's so many trusts and wills that are like the from the 99 cent store. Meaning $99, $199, absolutely no help. absolutely no
15:30 - 16:00 advice. So people just click some buttons and it's it's it's so I'd say unethical quite frankly because they're just pedalling and it started let's go all the way back Chris Susie Orman right the $35 will she did it out on PBS and sold you know hundreds of millions of them which they're pieces of crap I ordered one myself they come in this little flimsy box absolutely no clue what to do and a will just so you all know is I always call the will your stuff right how do you how do you Who's
16:00 - 16:30 going to get your stuff, right? Who's going to get my magic wand? I got a magic wand last year cuz everybody thinks I have one, so I thought I should get one. Um, it's really who It's just funny. That's funny because it's literally right next to you to get it because every like I have a magic wand. It's like oh actually I do now. It's funny. Yeah, but it's the stuff. So my kids are going to fight over that. I'm get another one. The trust is how you avoid probate. And Chris, I have heard not only for I mean what drives me crazy is those, you know, paid people and they're great people,
16:30 - 17:00 but they're just paid actors and actresses to tell you to go buy something and without any education. Hook, line, and sinker. People like go buy this $199 trust. Well, you can't get anything done. You don't even get the right documents. A trust binder is like typically this big. It's a big binder with a lot of tabs done right with everything that you need from powers of attorney health and financial. Um, it has all of your insuranceances completely laid out. It has a complete plan. Um, and as far as the language of
17:00 - 17:30 it, I always say there's a power of five in in what should be a legacy and a trust setup, right? So, usually I'm their facilitator advocate. That's really how I I don't really call myself a coach anymore. little bit of mentor, but I really helped facilitate their family's life down the road. There has to be an estate lawyer in the state that signs it and you need to move it as fast as you move. So, I just had a couple that moved from California to Tennessee 5 weeks later. The gentleman, the my male client, and actually, you know,
17:30 - 18:00 these guys, I don't know if you knew them, but actually, I'm pretty sure you did because they were big big event people. Anyway, bill passed. Michelle's left alone and the trust is in California, but their new residency is in Tennessee. They are living, she is living through an amazing exper horrible experience. Again, more lessons to everybody listening. Get it done and get it done quick. And if you move states and residents, it has to go with you because because you're you're going to probate where your trust is. So, here she's back in California living through
18:00 - 18:30 unbelievable probate hell. Um, but a trust done really well keeps you out of probate. So, again, it's the whoever's going to help navigate and educate, which would be the me on the team. There's an estate lawyer. There's a U for insurance. There is a highly strategic tax strategist. Not a light CPA, not somebody who knows a little on the side truly knows like that that the basis of that. Um, and I'm missing one. Uh, your accountant. Oh, your corporate
18:30 - 19:00 compliance and corporate structure. Because if your corporations and your corporate compliance aren't accurate into the trust, that could kick you into a whole another legal battle in a probate court. The goal of a trust in my opinion is to get in and out of court upon someone's death death as fast as you can. Retain all assets, retain bank accounts, retain total activity. So small things that I do is I mean I start very early 18, you know, starting to put my kids just as signers, not not necessarily even a shareholder, but all bank accounts have joint signatures. So
19:00 - 19:30 if anything happens to me, the accounts don't freeze. Everyone keeps moving as another legal adult. So, I do a lot of um protective measures and how did I learn them all? All my clients and the amount of clients that have passed on and the amount of families I've had to help live through this un you know it's it's going to happen to you. And here's what I'd say to all of you. You have a plan. You're either going to sit with Chris and I a team and design a plan for this be to be done right with this was a three-day workshop we just put on which
19:30 - 20:00 is how do you do it right with those five people on a team. It's not just an estate lawyer. It's it can be it's not enough people and especially in the tax side if you want to walk out of there not getting scathed in tax and right now you can pass on over 11 million to uh each heir on tax done right through eyelets. So again right so now it's moved to the trust. So there's a team there's the intention of of why you want to do it. Uh a will and a trust are very different. There should be a porover will which is if you forgot anything
20:00 - 20:30 it's going with it anyway. There's all these sections that you build up into the trust when you get to the conversation you were having is how do you make sure people behave it is through I love your idea of a birthday check. Um that's a great one. I might have to borrow that just amend and add add to it. Uh but there's also what we put in is non-depletion. So non-depletion is a section. And it's not all of it because I do want to have them have, you know, uh, some nice uh, distributions upon my passing, but the
20:30 - 21:00 core of it is to borrow against, treat it like a bank. How the Rockefellers did it. You you treat it like a bank. So, they have to learn a business plan. They can borrow against it. They have to return against it. Um, I haven't put in place the board, but there will be a board. Um, part of them are named, part of them not named quite yet. um don't plan on going anywhere for a while, but they are named uh if if it happened, if I had an accident and so the board then oversees. So it's like having a trustee,
21:00 - 21:30 but it's it's it binds to three people that they have to get approval whether they can take anything more than six figures for sure and borrow to go buy a business by something. If they're not I mean, let's talk about the basics. if they're not in good standing as a citizen, they're doing drugs, alcohol, they're just doing abusive things, treating people like crap, not running businesses accurately. So, there's just a lot of behavior that I built into mine. If they have to behave, if they get divorced, the the surviving the spouse or the I guess will be surviving,
21:30 - 22:00 but the spouse will be taken care of in the lifestyle that they got accustomed and that's it. They they none of there's not a big they can't touch it. There's no alimony. There's no lifelong child support. Um, and then for the most part, a lot of it will do what's called generational skipping and skip to the grandkids to avoid the mess and the fight. But any of my kids, you know, that's it stays in the family. It stays in the Langmire legacy. Um, a huge way
22:00 - 22:30 to do that. The other thing that I put away is I have huge tubs of all my work. I mean, I have a game. I got six New York Times. I've got over 50ome real books. really a lot of, you know, really cool stuff from Dr. Phil and The Secret, Bob. I mean, just cool stuff. So, I have kind of a legacy war chest and I put together, I think, I don't know, a whole bunch of them. They're all over my garage. And that's for the grandkids and then to pass it on to the great grandkids because what I want is for them to remember, you know, Grandma Laurel. Actually, they're
22:30 - 23:00 going to call me Glam Glam. They've already said that's going to be my name because I love bling. So, uh, they're all going to get this and they're all going to know where their their family came from. So, and a lot of that too is just time. Like, um, I don't have them with me back here, but, um, like teaching kids early to journal, to do goal setting. Like, I started goal setting with my kids at three. They have little tiny companies. I mean, little, you know, kid companies at four and five years old, whether it's a smoothie or slime or a little jewelry thing or a little art thing, whatever it
23:00 - 23:30 is, but they they learn to make their own money. Mom was never the bank. They know when they can come do loans. They know that we can have a conversation. We know we can partner. So, it's growing them up, which was a huge part of the Make Your Kids Millionaires of how you bring your kids into this and who do you want to be? And to your point, Chris, I think you got to go all the way back to most people don't even know what they want this month, much less a year, much less a lifetime, and much less a legacy. So, it's some mindfulness around what do you want? And you know what I love about
23:30 - 24:00 the community I put together is this is a place for those like these, you know, 300 people in the room. This is hundreds of families talking about these conversations. So we would I like this is a conversation where we would tee this up. You talk at your tables. There's eight to 10 people at your table. What do you want? So it provides a a a space for people to have conversations that aren't just opinions of your neighbors and your relatives. These are people getting trained into the work of becoming a millionaire or
24:00 - 24:30 they're already a multi-millionaire. I have a lot of people already multi-millionaires. They come because we have the best tax team. I think I have the best tax teams in the country. They're so good. I mean, their taxes are so low. So, a lot of our high net worth people come just for the tax team. They don't really care about anything else. But then they do get interested in the legacy. They're like, "hm, I haven't given up attention to that with my estate lawyer." So we don't necessarily replace teammates when people come in, but we get them to learn to behave together better on behalf of the family. And a lot of teammates, as you know, Chris, I mean, our our financial
24:30 - 25:00 services industry is so segregated. You know, when I just said that that power of five people, getting those five to get on a a call for you, good luck. I mean, any of you watching, good luck trying to get those people to come together. And then, do you know enough to facilitate a conversation with those experts? And I'm going to say no. So that's why that's where I exist. I exist in a lot of those family conversations, text conversations, just moving the family along. Um I'm not giving an advice necessarily. I'm just being very
25:00 - 25:30 mindful about the things they need to be thinking about that no one's ever told them to think about. That is a lot of it right there. Just getting people to talk about things that they've never thought about before. And and and where's the forum to talk about them? I mean, I don't care what school you go to. Even if you looked at entrepreneurial curriculums, which I'm sure you are, you have because I know you and I are similar. The entrepreneur curriculums are nothing more than a business administration professor who just put on an entrepreneurial hat and pulled off some books on the shelf. I've
25:30 - 26:00 asked to be an adjunct professor at so many entrepreneurial universities and bring all my books and give my books for free to the students. Guess what? I've been told no 100% of the time. I I've been a guest speaker. That's different than getting a class to be an adjunct professor to really teach some badass entrepreneurial, you know, juice. And so why don't they let somebody like me come? They wouldn't let you come either probably because we are not tenure professors. So the professors are threatened by our books, our our the magnitude we come with. They don't
26:00 - 26:30 realize our agenda. I'm not going to be a university professor. I just want to help this next batch of entrepreneurial kids like get it right. And if you've never had a business, how can you teach entrepreneurialism? There's just so much wrong with, you know, a lot of things. So anyway, the forum of having conversations in a safe, accurate place, and I'm going to say accurate because there's so much crap on the internet. I call the internet the bathroom wall now, Chris. That's my new It's pretty bad. The bathroom wall. Anybody can write anything about anybody. And uh there's, you know, the deep web, and it doesn't
26:30 - 27:00 get erased. And it's it's rough. And you don't know how to validate out there. People use social media as a validating tool. So ridiculous. Your real estate business lives and dies by the network and the connections that you make. I mean, after all, your network, well, it's your net worth. That's what you always heard, right? If that's an area where you desire improvement, well, Private Money Club, it's for you. PMC saves you precious time and money by bringing the real estate world, well,
27:00 - 27:30 right to you, right in the palm of your hand. So get in on the action like so many others have by going to privatemoneyclub.com and sign up. But anyway, back to legacy and trust. I love the conversation. Uh what are some of the language things you put in your trust? Yeah, I mean so it's long and indepth. So essentially you hit on some of them. The Rockefeller method, the family banking system. So obviously it's no secret, you know, I'm in the insurance business. So I do specially designed and engineered whole life that we use for the infinite banking concept
27:30 - 28:00 which is a process not a product. It's a process of taking back the banking function. So I incorporated that entire message and everything I teach into the trust language. And I broke it down to the six laws of wealth. Okay. And I teach, you know, what I taught my daughter through my TEDex talk, my children's book, and many other things, including the letter that I wrote her is essentially how she's going to use money, but how money is specifically going to work for her. So, you had mentioned, you know, with the the
28:00 - 28:30 Rockefellers. So, my trust language is very specific on how she or anyone through my my in my family is able to access the legacy that I leave, which will be lots of life insurance money and other things. But all of it goes into a pool within the trust. That money doesn't just get paid to the beneficiaries upon my death. Not even close. Yes, they will get a small distribution, probably much smaller than what you're leaving, but they're going to have access to hundreds of millions of dollars, but they have to access that money in a very regimented way. the same
28:30 - 29:00 way they would access money. If they went to a traditional bank, they would put together a loan proposal or they put together a loan request. They she will have to go to the trustees, appointed trustees that I will kind of put in place and I also have a plan and language in there on how future trustees will be chosen to manage this. So, she comes to them and says, "Hey, I want to start a business. I need, you know, $50,000." She has a a business proposal. The trustees will review it and they will be basically authorized to always issue the loan to the family members. So
29:00 - 29:30 Vivy, my daughter, would get the loan and she would have to set up a loan repayment. Now, she can set the terms for that loan repayment, but it always must be principal and interest at a rate very similar to what a bank would charge. I I allow up to 1% less than what a bank would charge, she has to repay that. Now, if there's ever times where she runs short, doesn't have it, she just has to notify them, but she always has to make payments back to the family banking system. Now, if there's ever a time a business fails, let's just say she borrowed 50 grand, that business failed, great. As long as she learned,
29:30 - 30:00 that's it. But the trust is mandated for everybody born in the family to have life insurance. So, the trust will buy life insurance on Vivy up to the amount of her usage and then some throughout her lifetime. So, most of that life insurance is put in place for my daughter because I only have one now, but most of that is put in place in the first five years because we know insurability is going to be there. the cost of insurance is very low and we can get a lot of death benefit for a little bit of money plus the cash value will grow exponentially over time. So that's
30:00 - 30:30 how it's structured and that language continues on and how she's to use it for everything cars and everything else. And then I mentioned the birthday checks. That's just my legacy so that no one in my because most people will remember a grandfather for one generation after that that person's never remembered again outside of a photo in a scrapbook somewhere. And like listen, in our time we don't have scrapbooks. We have phones. So what happens to all the memories in a phone when we die? I don't even really think we've talked about that or seen that cuz really they live
30:30 - 31:00 in a cloud. But if this phone is lost or they don't know the passwords, all those pictures, those memories are gone. It's not like the old day of photo uh albums where we actually had those. So these are just different things and I'm constantly rethinking the language in my trust. I work with a really good tax attorney, so there's a lot of language in there that was put in because of the tax attorney and proper ways to structure it there. But that's really what it is. It's just making sure that every family member has access to the capital, but is always replenishing the
31:00 - 31:30 capital. And then when every family member graduates, nice way of saying when they die, that that pool of money is replenished with the death benefit in a tax-free nature. So the next generation has more money to use than the prior generation. More money to grow the businesses, more money to live, you know, a more fulfilled life. And most importantly, we have a foundation, a private foundation, which we're very passionate about. We bring our daughter, even though she's well, she's four, going to be five here this month. Uh we're teaching her the power and the
31:30 - 32:00 importance of giving through all the things. And we donate a lot of money to her private school. We're building a an art center which is going to double down as a financial education center. So with us funding that, we're also going to have the right to do education and in in finance and money and teach the kids, the parents and some really good books you need to add to that foundation library. Absolutely. So you know those are the things teaching our daughter, you know, how to do now, but also she'll take that knowledge and that that's all
32:00 - 32:30 in the the trust language and she'll be able to teach that to her kids and her kids and her kids. Love that. And you know the the thing too that I haven't done yet um but my daughter found it in uh she and I went on on some college trips. So she's headed to Flagstaff. So she's chose NAU. They chose her, she chose them. So in August she leaves to go to college. So last year we were there visiting went to this cute little store and there was journals about the legacy of mom, the legacy of dad, the legacy of grandma and
32:30 - 33:00 grandpa. So we bought a book just to like see what's all in the book. It was so interesting how it like lays it all out and I said it's going to be good to be in a book but then it's only going to be with you. So our goal with that is to eventually through her college make this into a video of grandma right of of mom Laurel. So so you take like you said the photos out of here and you move them in. The other um asset and I have to introduce you to her. She's a client of mine. She's an estate lawyer. She came to me kind of burnt on being an a lawyer
33:00 - 33:30 and really is high high. I actually met her at a at a keep in vision soft conference. That's where I met her. And then she became a client of mine. She said, "I really am digging all this tech." And as we got to talking and you know that again financial services world is extremely segregated. So you might have a vault with your corporate you know compliance people, a vault with your trust, a vault with your CPA, a vault, a vault, right? That just goes on. So what she's built now for $47 a month per family. She was going to do it for Well, she did do it for lawyers. So you can imagine a lawyer that has one
33:30 - 34:00 portal vault that you can assign, but everything in your life is there. So that's what she built. And I said, "Yeah, but I I want to change lawyers and my lawyer passes or something happens. I want my activity and it's harder to get in those situations." So for $47 she built for a family, a complete integrated vault that can hold everything that you and I have just talked about. And then you can log in. You can assign the rights to the tax person to see this section. Your insurance people to see this section. Uh your lender, if your lender need to see
34:00 - 34:30 something, they can see that section of your tax returns and uh P&L. So you can load as much as you want in there. And then there's a whole photo section. That's awesome. It's just a cool legacy vault is what it's called to store everything about the legacy. And so it just launched. I'm super excited for her. Um, I'm going to be one of her early stage people just to load all my stuff in, see how it goes. But those kind of tools, I think in the future, are going to help a lot of families keep it together because wouldn't you agree,
34:30 - 35:00 Chris, too, that upon death, depending on how people lived it, the the the heirs, especially the immediate, they either inherit a mess or a pretty organized system of planning and wealth. And I would agree, but I think there's far more messes than there are properly planned. 99% are messes. Yeah. Okay, there we go. Wants to deal with it. So they just all So what most people do and how legacies and why they're I I also think just behaviorally they've never really existed is because everybody's just kind of scrambling through their
35:00 - 35:30 life not even thinking about it and then you know they graduate as you say. Um and the kids are left with a mess and they don't even know where the the the deeds are. They don't know where the stock certificates are. They don't know where anything is. So part of it about this legacy is getting organized. And I can tell you just that alone probably keeps 50% of the people away from me for a while because they're like, I don't want to deal with it. I don't have time. It's like, well, you're just passing you're just kicking the ball the can down the road to the next generation who
35:30 - 36:00 has to deal with the mess. And a lot of times they'll blow it like I'm I'm seeing families that now I've acquired but in the immediia they'll just sell everything off because they don't because there's also learning to deal with the asset like learning like you know right now Logan's the sole era the marijuana farm for example because she you have to be 21. So I can't even put her in there until she's 21. That's three years from now. And so for now like he's I take him to the farm. He has to know wherever all the keys to the
36:00 - 36:30 kingdom are. if anything happens to me, that is a massive asset. I mean, he just can't sell it. It's pristine license, right? There's all these different assets like um so we're kind of reviewing them and I think that's another part of the child's development is they get into their teen and young adult years is reviewing what you have. Like I'm t I've taken them to Kansas to see how many apartments and the doors we own. And you know, my daughter's been to our wellness center in Ohio that we own with another family. Like these are assets that they either going to keep or
36:30 - 37:00 they're going to sell. and they will either disrupt the entire business upon a sale or end up with a big tax burden. And nobody thinks this through or talks it through with the kids. So, if you really had to back it all up and say, "What's this all about?" It's the people who want to be organized and have a legacy life or those who just want to get through life and have hand off whatever mess they made. And I find the latter is actually what most people do. It's unfortunate. And you do trainings where you walk people step by step through all this, don't you? 100%. 100%. Yep. Because I mean like I'm sure
37:00 - 37:30 there's a lot of people listening and in audience you know if you're listening comment below but you know you're thinking oh my god that's so much stuff and and you just nailed it. I don't have time to know all of that but you know you don't need to know all this stuff. You just have to get around the right people and then they will do the bulk of the work. Like listen like if you think everything I did with my trust structures and everything I've done was all done by me sitting down with a pencil. No, it was using tax attorneys and professionals that know and have done this hundreds if not thousands of times that have literally given me bits
37:30 - 38:00 and pieces. Now, I kind of had to construct what I wanted from it, what my needs and goals were, but they gave me the language. They gave me the the ideas of this is how we've done it for this family. This is how it worked for that family. So, you know, again, when you're hearing all that, I know it's kind of like drinking from a a faucet or a fire hose, actually, but just know like all you need to do is get around the right people. They've already done it sometimes thousands of times and they will just basically show you the way and then you just need to add your flavor to it, right? Maybe you don't like lemon
38:00 - 38:30 lime and you want the raspberry flavored. Great. That's all you need to know is what is it that your needs and goals are? Let the experts do the rest of the work. So, can you just talk a little bit about how you've helped people navigate this difficult landscape of trust and planning and leaving proper legacies that 1% of the people that are prepared? How have you done that? Uh well, through all the books and the work that I've done, but the big one was in the fall of 2022 is when we did this three-day legacy workshop. We filmed it. We did a three-year, it was a three-year
38:30 - 39:00 process, and again, not really a program, a process. So, we did three days with all five of those team members, everybody met him, we dug deep, we started filling out these long these journal, these vaults, the information needed in a vault, and then a year later, we did another review. So, I'm really your advocate, your educator. uh talk to your family, talk about the differences in the family, talk about this the trust structures. I mean sometimes you you some people families can get away with one. Um but if the
39:00 - 39:30 kids are really different, their goals are really different, which is pretty common now, then each kid could have their own trust. And so what's the best structure to hold it together that it doesn't fall apart? Because again, you leave the kids the mess. What ends up happening a majority of the time too, the kids all start fighting and end up in litigation because they don't want they don't want the land, they don't want the this, they want cash, they want to just go buy the Lamborghini or the new car. So like you really if you have those kind of kids, I mean like again stage it to be successful while you're
39:30 - 40:00 alive. I mean why build any of this if you're not going to do it right? I mean just for your ego. That's an interesting idea. But if you're really going to do it with mindfulness and purpose, then you are involved. So I work at them really as their advocator. And it's really I've grown into that role more. You know, I started more as a financial coach and then more of a mentor and now I have a whole uh army of coaches, a whole army of financial experts. I stay the educator and not licensed intentionally because I can talk freely.
40:00 - 40:30 Absolutely. Without broker dealers scripts, without all the restrictions around me. Um so that's I just kind of really picked that path. Um Dr. Dr. Phil actually helped me a lot when he, you know, taught me that TV is 100% entertainment. Don't don't don't be mesmerized by any thing that's educational about it. Uh, I mean, that's why, yeah, I mean, I go into the whole TV thing. So, I just knew that that's who I was going to be. And I love the education part. And again, I'm going to do it. I love this part of my life. Uh, and then I have other things. I have I'm
40:30 - 41:00 in real estate. I'm in gas and oil. I'm cannabis. I'm just getting ready to buy a bunch of water rights in June. So, I do a lot of other businesses because I love them. Um, but this is my my core and I love helping families get it right because it's heartbreaking. And for those of you that are out there just listening going, "Well, I'll get around to it." Um, like Chris said, we our teams will do a lot for you. Mine will be the conversation and having you make some decisions as quickly as you can make them. And then, like he said, the the teams of people, we have teams of parillegals. They're going to put all
41:00 - 41:30 these documents together. They're going to make sure it's notorized, your eyes are dotted, your tees are crossed, and that the documents really get in there because you know those 99 cent store or those online portals. You don't even have any help. You don't even know if you're clicking the right button. You don't even know the difference between a revocable and irrevocable trust or an eyelet trust or non-depl I actually won't make those decisions for you either. I'm just going to educate you on the pros and cons and then the lawyers and the legal compliance teams will actually help you
41:30 - 42:00 make those decisions and then they'll do the work. Um, so a lot of it's just you you've got to be in the purposefulness of I want this kind of life and I need to get it organized. Well, let's pivot a little bit. I I want to talk about something that I think is on most people's minds today and that is, you know, where we're at in this economic cycle and, you know, people are are starting to really feel the pinch. I mean, we talk to hundreds and hundreds of people every single month. I'm seeing it frontline. You know, credit card debt tells a story. If
42:00 - 42:30 you look at statistics, we're at the highest credit card debt we've ever been at. Well over a trillion dollars in credit card debt. And now we're starting to see those delinquencies creep in. Starting to see the defaults come up. I mean, the charts don't lie. The data is all there. We are entering an interesting time which is weird because just a few short years ago going back to like when we when you got off the road I almost said we got off the road but you know when the pandemic hit savings rates were going up at that time and debts were going down and then when the world opened back up everybody went out and spend started spending like it's 1999
42:30 - 43:00 like the you know the world's ending tomorrow. Well I feel like we're there again but now we're what what you know I don't when we're talking about all this legacy I feel like that fits more of an affluent client. somebody that's already got a legacy, already got the stuff in motion. But what about the people that are living paycheck to paycheck, buried in debt, and they're seeing everything that's unfolding in the economy, wondering, "Oh my god, how much worse can it get?" And I I can definitely tell you it can get a lot worse, and it more than likely will. How are you talking to
43:00 - 43:30 people about the current state of the economy, what they should be doing, how they should be preparing? Because listen, for people like me, you, and a bunch of the other folks listening to this podcast, it's going to be an amazing opportunity. Because listen, during a recession, during a declining economy, everything goes on sale, things become cheaper, things become more readily available, you can get more talent, you know, out there because it just opens it all up. The floodgates, I guess, break open. But for other people, they just feel trapped right now. And you know, I've been doing a a lot of
43:30 - 44:00 work in our webinars and all the stuff we do of of preparing people for what's going to happen and what, you know, how to just be on the right side of it so that it can be an opportunity. I know I've lived through many recessions as a financial adviser. I was always on the wrong side of it. Always, you know, a buck short and a day late. And this time I'm not going to be there. And I want to take as many people along the ride of being on the right side of it where you're ready for it and it does look like an opportunity instead of just a tragedy. How how are you looking at this? So, well, I want to add a few things to that, too. I mean, the amount
44:00 - 44:30 of people who took out PPPs, EIDL's um and took money, which I and I'm a fan of the EIDL. I mean, that was 3% money and 30-year notes. Are you kidding? I said, get as much as you can. Same here. And then use that and arbitrage it in debt and use it. Use it to make money. Use it as a absolute benefit. Uh the problem is most people don't understand debt, right? Let's just let's break it down. Debt's the cost of money. you're either on the right side of that equation or you're on the wrong side of that equation. So, and I don't believe in total debt redu I mean debt
44:30 - 45:00 elimination. I think it's debt management. And where I focus most of my clients getting through this is they have to make more money. And it's not just a job. So, it's not get a second job, third job. It's not the Susie Orman talk. It's what's the part Thank you for bringing that up because that is what Susie Orman tells people. Oh, no. It's not. You're not going into job land. You're actually going to become an entrepreneur. So you control your, you know, your money, your upside because as an entrepreneur, you have an unlimited upside, right? In most employee
45:00 - 45:30 employment jobs, you're in a fixed income and you don't have fixed potential. So I go after the what can you do to create more with your life and create more money and then not go pay off your debt, which is what most people do. They make it, they spend it, meaning pay off their debt. So I want you to make it, invest it, so you get the compounding power starting as early as you can, as fast as you can, and then we'll manage the debt. So I help them get, you know, I have over 500, I'm sure, I know you probably the same resources to get 0% debt. So we help
45:30 - 46:00 them restructure it. We don't go through through debt elimination programs or debt recon reconciliation programs like the National Debt whatever Institute. I mean, there's such all those things are scams. I in my opinion, I think they're overrated. the fees are are hidden. People don't know anything about it. They just feel like I just have one low monthly payment now. I don't believe in any of that. I mean, you got to be responsible for all of it. So, if you overspent, you overspend. And the only reason you're in deep credit card debt is if you really think of the source, this is the stuff how I you my narrative
46:00 - 46:30 of this is go make more money because the only reason you have credit card debt is you've outlived your ability to make money in your job. So, you put the rest of the life that you want on a credit card. So, if you just learn to make the money you want, you're never going to have debt. You can buy what you want, you can have what you want, you can invest what you want. Uh, the pattern that I work on the most is make and invest and then manage your debt, right? Versus make spend and then one day you'll start investing. You've got to start the investing cycle immediately. And one of the things I
46:30 - 47:00 said like in my make your kids millionaires book is the minute those kids are born, day one, open a Roth IRA and and load it up and fund it every year. So, that's one of the gifts I give my kids. I make sure every year since they were born they were funded into their Roths. Um skipped a few missed a few years during some of our travel during just being out of the country completely. Uh but for the most part if you if you just from zero to 20 if all you did is max out your the the the Roth component and do some really strategic investing like the probably the most
47:00 - 47:30 strategic one I did is I bought Bitcoin at four and nine in mine and my kids Roths a lot of it. A lot of it. and then just, you know, between four and nine just kept buying buying and buying. And so, I mean, those are well well into six figure accounts. So, you can make your kid a millionaire in 20 years by just funding their Roth. That doesn't make them responsible or smart, but you got to do some stuff. Back to your broader economy question. I'm I highly focus on making more money. Uh really educating
47:30 - 48:00 around more strategic and I'd say recession proof investments. there's no such real thing. But you and I know that's a it's a key word to have them start thinking uh what's going to happen to start really looking at what they have uh putting more money away versus it's amazing to me how much people are spending right now. Blows me away. My son just got married in Nashville, Tennessee, just outside. And it's amazing that many people are on Broadway spending the kind of money that you see
48:00 - 48:30 spend. And it's like, do they make it or is this all on credit cards? because we're about to go through a very interesting cycle that was not set up, you know, and we could probably talk a little bit about Trump and the economy and the tariffs because most people are going to they're going to feel the pain during his administration and they're going to blame him for it. Correct. But they should have blamed the last eight years. Exactly. Yeah. I was just reading the headline right here and it's just more blame, blame, blame. It's just interesting how that works. No, he's actually fixing it. And but to fix the problem that was magnified to the degree
48:30 - 49:00 that the last administration could not have tangled up this world and I say world, but really the obstacle is the way. It's the only way. It is. Oh, it's it's going to be it's going to it's going to be rough to get really good. And people don't realize that. They don't realize the trend has to go that way to get it fixed because they don't know how to fix because they don't own a company and they've never been an entrepreneur. So again, numbers don't lie, data that doesn't lie. So I always say you got to lean in and learn, get educated instead of getting scared and lean back, which is most both most people do. Oh my god, this is happening
49:00 - 49:30 to us, you know, get over that and get into, well, what am I going to do about it? And get mindful about it. I love that. Love that. Well, as we kind of get to the end of the podcast, I know I know we could talk like for two days, so yeah, but before, you know, everybody always loves, you know, stuff that they can use and that's tangible. So I know we were talking a little bit about something you wanted to offer my audience. Do you want to talk about that right now? Absolutely. So of my six, I can't give you this one. This one's
49:30 - 50:00 still under the command of the publisher. U but my original five, the millionaire maker, the cash machine and wealth cycle I just mentioned. Put more cash is one I did during the uh 2008 910 just to help families learn to make $500 to $1,000. So, put more cash. I I now I call it like my my really beginning entrepreneurial book because it's just how do you get into making 500 to a,000 extra a month, which some of you may say, well, that's not a lot of money. It's more than you probably have ever made on your own as an entrepreneur. Most of you haven't done a $1,000 consistent month, much less a $10,000
50:00 - 50:30 consistent month. That's just a hundred or a million in a month, which I've hit all of those numbers. So, and then my Yes Energy book um that I did with Hay House. So, you get my five books. It's all on ebooks. um you are getting my a free session in the millionaire maker book when you get this read this one first no matter who you are on page on chapter three there's what's called the gap analysis you're going to do these gap forms where you are what do you want and then you can have a free session just to talk about where your gaps are and where your problems are because you
50:30 - 51:00 we're going to see more than you see and then the biggest thing I'm going to do is once a month I do an event now it's called the millionaire intensive which talks about how do you become a millionaire how do you actually secure the corporate structure and trust structure show we talk about that and we then we talk about what's your offer? How are you going to go make some more money? So people that are employees go like I don't have an offer said sell someone else's stuff I mean is what I did in my transition. I sold Kiasaki I sold the rich dad poor dad brand for five years before I became my own brand of the last 25 years. So selling someone
51:00 - 51:30 else's stuff, direct sales, all of that is easy or take your skill sets, put a business around it, uh do whatever you need to do. But so we teach you how to make money and then we put you into a three-hour marketplace and there's usually 120 150 people in this room. So you can imagine, Chris, we have all these Zoom people and teaching them how to sell and pitch each other in a very strategic way. It's not a mess. And we've been doing it now the whole time during the pandemic. We went from doing it twice a month to uh now we do this
51:30 - 52:00 once a month and we usually get about a thousand people registered. Couple hundred show up and then by the time the marketplace comes around there's about a hundred people. So you get three names and numbers, phone numbers, you get to sell your stuff. I've had people make 7,000 during the marketplace. So I'm going to give you two tickets to the marketplace, all five books and a free one-on-one session with my team. All those things. And we're going to put all that info in the description of this podcast, folks. So, I know you're listening, you're like, "How do I get it?" The link will be in the in the description. So, just click that link
52:00 - 52:30 and you get all that. That's phenomenal offer. Well, and then also while you're on since we talked so much about legacy is what we did is we put the 3-day course, the follow-up one year, and the follow-up second year all into a nice legacy uh product. And so, they can I think that's only like 197 bucks. So, just ask the team when you call and talk to them if you want to get the legacy book, which you love this book, Chris. The first page on here, it says, uh, first page, this is what you're going to fill out. I'm dead. Now, what?
52:30 - 53:00 That is perfect because that's the way people need to think about it. I'm dead now. All these people and and here's my passwords, here's my codes, here's my, you know, here's my wallets, here's my MetaMask, here's here's every my crypto, here's everything I have and it's all documented. And then this really becomes that vault that lives up high, you know, with passwords. So, uh, it's just it's it was fun putting that together because people don't think about it and it's time at some point you got to think about it. I love that. No, it's been great to be here with you. We have to do this again. It has. It has. Yeah, we
53:00 - 53:30 definitely got to do it again because we had we didn't even talk about oil and gas, which is a hot topic right now. We didn't talk about precious metals. These are all things in your wheelhouse that you love to talk about. But today we we definitely focused a lot on the legacy side, which I think is a really important piece to talk about, especially with where we're at. I mean, now is the time to start planning no matter what age you are. So folks, please, you know, if you didn't really catch that, go back, relisten to this episode, drop a comment down. If it's something you know, you want Laurel to answer, if you put it in, like if this is YouTube, if you comment there, I'll
53:30 - 54:00 make sure she gets the questions. Like she said with if you're one of her clients, you get her cell phone. And that's not something I hear very often and I'm definitely not giving my cell phone out quite as much. But uh yes, I love it. With that being said, Laura, what would be one like final piece that you could give this audience that would help them to kind of get through the next few months and next few years of what's about to happen. Well, two things really quick. I'm going to give you the link. So, it's ask Laurel as skmpodcast. So, that's where you can get all those goodies. And I would say how
54:00 - 54:30 you're going to get through it is learn to make some more money. like focus instead of what's happening and the negative and what you owe and oh you know the oh my gosh it's you know happening to me uh flip that entire energy to what can I do to go create what can I create and here's what making money really is in the way I teach it what problem are you going to solve in someone else's life that you then are compensated for solving the problem and serving them so think of it in a service-based way how can you solve a problem and women I love being a woman
54:30 - 55:00 teaching this Chris because women do it for free and that is no longer you you get to be a consultant. You're going to be an advocate, a guide, a coach, whatever you want to call yourself, but you're going to stop just chitted chatting for free and you're going to be very very like get your guard rails and get very purposeful about the problems you solve. Like I'm really clear I solve money and business problems period. That's could I solve other things like could I do mindset coaching because I was in the secret dwell? Yes, I I won't. I stay super clear on what I do and where my guard rails are. And then I
55:00 - 55:30 have people I refer out to the topics. Like people want me to teach them to sell from the stage all the time still. And it's like I'm not going to do that. But I have three people I can refer you to and they'll teach you to sell from the stage because that's just not what I want to do anymore even though I'm really good at it. So I I share those things. I think people don't realize you just got to pick and go. And you can't be everything to everyone. And what problem do you like solving the most would be how I'd leave you in an inquiry is what problem do you love solving for other people in their life that they would then pay you to continue to solve
55:30 - 56:00 it and you will have a business for the rest of your life 100%. Give that that link one more time. Ask Laurel and what was the rest of it? Podcast. All right. So again we'll put that in the description but you got it. With that being said, Laurel, thank you so much for your time. And folks, what she just finished with is so vital. If any of you have read Think and Grow Rich, listen to Bob Proctor or Earl Nightingale and the Strangest Secret in the world, you will notice one common theme. She said it. What can you create?
56:00 - 56:30 That is the secret creation. Your worthy idea. What problem are you going to solve? The bigger the problem, the more money you'll make. But in order to solve the problem, you have to be in a mindset of creation. And I think that was some of the the most valuable takeaways you could have taken away there. But you now need to go read Think and Grow Rich. Read Bob's stuff. Read and listen to Earl Nightingale. I don't care what you listen to, but The Strangest Secret in the world. The secret is so simple that
56:30 - 57:00 it's always been in front of you. You've just ignored it up to this point. So go out there and create your perfect day. With that being said, folks, thanks for joining us for this episode of the Money School podcast. We will see you on the next episode.