Jun 6, 2022
In today’s show, Pancham interviews Drew White - upside down wealth consultant for business owners & executives.
Former pediatric oncology nurse with a $150,000 student loan debt, Drew realized that nursing is not a long-term gig for him. He came across infinite banking while learning about money and distinguishing between bad and good debt. With his “aha!” moment, he is now on a path to entrepreneurship real estate investing, infinite banking, and teaching others how to do the same!
Be the banker yourself as he teaches the concept of infinite banking and how you can get the same rewards that the bank does. Learn from his journey as he shares his principles, why you should utilize the whole life insurance policy, and other added benefits that you can get!
Listen and enjoy the show!
Quote:
“I started reading what other people did and that's when I realized, ‘Oh okay, a lot of people are doing real estate. A lot of smart wealthy people have been doing real estate for a long time.’ ”
Timestamped Shownotes:
- 0:36 - Pancham introduces Drew to the show
- 2:21 - From $150,000 student loan debt to using debt to build wealth
- 9:50 - Infinite banking and enjoying the rewards the bank receives
- 12:16 - How a whole life insurance policy helps in obtaining the bank’s benefits
- 19:22 - Creditor protection and using other perks for real estate investing
- 22:12 - On attaining the policy and transferring its ownership to his children
- 27:21 - Things to consider when setting up with a mutual insurance company
- 30:23 - Taking the Leap Round
- 30:23 - His 1st mobile home investment outside of Wall Street
- 31:10 - Overcoming his fear of imperfection when he first started
- 33:15 - How lack of due diligence led to an unsatisfactory investment
- 34:31 - Pieces of advice to rookie investors to get their journey started
- 35:51 - How you can connect with Drew
3 Key Points:
- The idea of infinite banking is to keep money in your own system rather than in a bank. In this way, you would get the benefits that the bank originally receives.
- Although a whole life insurance policy may appear to be a poor investment, it is beneficial when it is viewed as your own bank account.
- Work with someone who has experience and is willing to coach you. Working with mentors will be highly advantageous as you scale up your business.
Get in Touch:
- Drew White Website - https://www.ibcdrew.com/
- CreateTailwind Website - https://createtailwind.com/
- Drew White LinkedIn - https://www.linkedin.com/in/ibcdrew/
- The Gold Collar Investor Club - https://thegoldcollarinvestor.com/club/
- Pancham Gupta Email - p@thegoldcollarinvestor.com
Book:
- Becoming Your Own Banker by R. Nelson Nash - https://www.amazon.com/Becoming-Your-Banker-Nelson-Nash-ebook/dp/B0080K8EL4