Rory Douglas Life Insurance

Rory Douglas Life Insurance – 💰Jon and La’Fayette are joined on this episode by special guest Rory Douglas from Woodland Hills, California. Rory is a financial educator, highly effective life coach, and author of the international bestseller Crack Rich Code. In this episode, Rory drops some gems in What the Money Won’t Tell You! Quotes on why you don’t need money, you need money!, why banks are not for savings, why money DOES NOT buy happiness, why YOU SHOULD use a credit card instead of a debit card, why you SHOULD NOT go to college to be successful and more other! To learn more about what will change your life forever, click the PLAY AND DOWNLOAD button!

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Rory Douglas Life Insurance

Welcome to the unscripted Authentic Leadership podcast. A podcast that we strive to bring about change and also strive to understand. We are also here as a forum for leaders to gather, connect, develop and empower other leaders in the areas of business, family, faith and community. I am your master, Lafayette Lane, my colleague John Lebrun told me. Today we have a special guest from California joining us. Our special guest, Rory Douglas, you know what time it is. Raise your hands, applaud in the comments section as Roy joins us today for an amazing talk about how no one talks to you about money. He is a financial guru, high performance life coach and international bestselling author. We’re glad to have you on board, Roy. Thanks for coming, dude. Thank you guys for accepting me guys. I’m just glad you two talked. Call me, I’ll call you salt and pepper. You made it, dude. Yes, last year we always used peanut butter and jelly. And now I have to chase him. Josh is done. I think I like it more. Oh good. I like it. I like it. Roy. Okay, let’s get straight to the story, John and I. Today I feel like a fan. I am your big fan. Watch you every day. Back to rail events and things you posted on Instagram that I looked at. And I’ll look at it again because you’ve said a lot of things that work, things that might seem obvious, but people don’t implement them. For example, you talk about five things about finance that are not taught in school. You are talking about banks that are not for the state. What is the 72 compound interest rule, the 10 20 rule, and the 50, 30, 20 rule? Can you name five things about finance that are not taught in school? Well let me tell you that I don’t mind going to school this year because we all know that education is everything. But I always wonder how a box can make millions and a teacher barely makes a living? Now, I’m just saying that in general, you know, we don’t really have money problems in America. We have a literacy problem. And this lack of financial literacy and financial literacy for those who don’t know is just a lack of financial education. And now we are facing a pandemic and very turbulent times in this society. But we had a crisis before this particular crisis, before this pandemic, before the pandemic. Can you believe the average American that this is one or two wages from the homeless and one in three Americans is in debt? The average American family can’t handle even a $400 emergency. The average student graduates from college with about twenty-eight thousand dollars. After they become doctors, lawyers or professionals, between 100,000 and 200,000 people. And the average college student in America is still in student loan debt at 40. That’s why I created a national financial literacy campaign. So when I give different rules, like the rules from 50, 30, 20 to 10, 20, I am giving basic financial literacy, which is common in America, which is not taught in schools. And therein lies the problem. We don’t have money problems. We have a literacy problem. But once we resolve our lack of financial literacy, I believe we will have lunch money for the rest of our lives. I love it, I love it, I love it. Someone just popped in there to look at you on Instagram again and follow you. It’s very strange that you always talk about not putting your money in the bank, because keeping your money in the bank will never give you a return on the money you invest. Your money does not earn interest and the bank is not a safekeeping place. Do you understand this and why don’t we put money in the bank? And if not in the bank, where will we invest our money? In fact, we need to do what we call smart banking. And if you know that, you’ve heard banks talking about smart banking, right? It’s right. No. I say this to people all the time. We go to the bank, put money in the bank, and the average American bank gives us about minus one percent. Now if we think about inflation. I call it a silent killer, the current inflation is about four and a half percent. And for people who don’t know what inflation is, basically your dollar has less purchasing power. But currently, inflation is about four and a half percent. So come to think of it, man, if the average bank is giving us minus one percent and four and a half percent inflation, we should be getting at least five percent or more, even above inflation. So now you can literally put your money in the bank and lose money at the same time because every year taxes and inflation go up and your money goes down. That’s why I always tell people: don’t put your money in the bank, because we have to do what the banks do. I call it BYOB because the passers-by are listening, BYOB, be your own bank, be your own bank, do what the banks do. Well, let me tell you what banks do. We called the bank. We put money in the bank. We were given minus one percent. Banks do not store our money. They take our money, put it on the market, and get all that compound interest. Now the banks are doing something called fractional banking, fractional banking, which means that if I put a thousand dollars in the bank, by law, the bank must keep 10 percent of our savings… So the bank will save 100, but invests in the market and earns all the compound interest. So the same bank where we keep our money to keep our money. That’s why I always tell people: would you rather put your money in the bank and give it minus one percent? Or do you prefer to put your money where the banks put theirs? Only education. Again, no problem with the bank. I just want you to do smart banking and your biggest asset is your mindset. Start with your thoughts first. I call it financial stability. Make a decision or pick up your translation. I don’t see Kurds. Here he is. broadcast. Combine shifts. Change your thinking. wow so. On the same note where you collect your shit, damn it, but you know you’re good. You’re good. Yes! I like it. On the same note then, where if someone asks, okay, so where do I put the money if I don’t put it in the bank? And then I realized that another question might arise, what is it? What is the threshold or recommendation for the average American? And I think you mentioned earlier that you have less than a thousand dollars in savings. So, I hear someone ask, “OK, what’s the threshold for when I start?” Alternative method or should I just take everything and never put it in the bank? Like having a thousand dollars in the bank? Is it ten thousand? How are you? What is this? Can you open it up a little? Yes, sure. I will open it for you in several ways. Most people, if you tell them, don’t save money.

Rory K. Douglas

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