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March 26, 2021

Better Than a 401k, with Mark Willis

Episode 255:

Mark Willis is a man on a mission to help you think differently about your money, your economy and your future. After graduating with six figures of student loan debt and discovering a way to turn his debt into real wealth as he watched everybody lose their retirement savings and home equity in 2008, he knew that he needed to find a more predictable way to meet his financial objectives and those of his clients.

Mark is a CERTIFIED FINANCIAL PLANNER, a two-time #1 Best Selling Author and the owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois. Over the years, he has helped hundreds of his clients take back control of their financial future and build their businesses with proven, tax-efficient financial solutions. He specializes in building custom-tailored financial strategies that are unknown to typical stock-jockeys, attorneys, or other financial gurus.

As co-host of the Not Your Average Financial Podcast™, he shares some of his strategies for investing in real estate, paying for college without going broke, and creating an income in retirement you won’t outlive. Mark works with people who want to grow their wealth in ways that are safe and predictable, to become their own source of financing, and create tax-free income in retirement.

What you’ll learn about in this episode:

  • Why where you put your money determines what your money does and how it acts, and why knowing what you want your money to do for you is the first step
  • Why one of the great money options Mark has found is a certain type of dividend-paying whole life insurance that is often better than a 401k
  • What “TGIF” benefits you can expect from keeping your money in this kind of whole life insurance policy, and why it allows you to “bank on yourself”
  • Why this kind of policy can allow you to borrow against it without impacting how your money is growing in the policy
  • Mark answers a question Chris has about his own personal IRA-owned LLC, and he explains why generally one of the only assets an IRA can’t hold is life insurance
  • Why anyone can tap into the investment power of a dividend-paying whole life insurance policy, and why having multiple policies can be a powerful strategy
  • Why seeing yourself as an investment can allow you to leave your family a powerful, generational legacy
  • Why this strategy requires a level of consistency in your capacity to save money and isn’t the right fit for every financial situation
  • What exciting knowledge Mark is going to share at Chris Prefontaine’s upcoming Business Scaling Secrets virtual event March 31-April 1, 2021

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