Money Mastery: The Art of Being Your Own Banker (Part 1)#MakingBank #S7E40

Welcome back to Making Bank. On today's episode, we have Chris Naugle, a man who has dedicated his life to be America's number one money mentor.

 

Chris has built over 16 companies with his businesses being featured in Forbes, ABC House Hunters, and his very own hgtv. He is currently the founder of the Money School, which teaches you to be your own bank.

 

As an innovator and visionary in wealth building and real estate, he empowers entrepreneurs, business owners, and real estate investors with the knowledge of money, how it works, so they can solve their money problems as well as take control of their money. Chris is also a nationally recognized speaker, author, and podcast host.He has spoken to and taught over tens of thousands of Americans delivering the financial knowledge that fuels lasting freedom.

 

Make sure to listen to this Episode of Making Bank with Chris Naugle.

(3:52) Background 

Chris talks about how he started working in a farm at 14, which he later then got into a job at an Italian restaurant at 16. He quit the restaurant due to poor working environment and then proceeded to start his own clothing brand called Phat Clothing. He started selling his brands to school, to shops and eventually earned enough money to open a shop in a mall. This was how his days as an entrepreneur started.

 

(11:00) Chasing Your Own Dreams

Most of the time our dreams won't align with others and many times other people will put us down when we talk about our dreams. Chris faced the same thing. When he wanted to be a professional snowboarder, he was told to give it up. However, he stood by his dreams and although he did lose some friends along the way, he stood by his dreams. 

 

(16:57) Pro Snowboarder To Entrepreneur

During the period of recession, Chris’s business sank forcing him to look for a job. He applied to many firms and he got accepted to only one and that was Wall Street firms. This was the beginning of his transition from a snowboarder to a businessman. He quickly started picking up and started learning about the corporate world and he worked hard everyday to be successful today.

(23:04) How To Plan For A Recession

Get your mindset right. A recession may be bad but if planned properly, it can turn into one of the biggest business opportunities. You'll be able to grab more market share in a short period of time than you could ever do spending massive amounts of marketing. Go into a preservation mode, keep your business going, try to grow, but don't shoot for those big numbers. This will be the greatest opportunity of most business owners' lives if they get ready right now.

 

(26:54) Strategies For Your Money

If you put your money into a regular bank, the regular bank's in control of your money. Imagine you had a place where you could put that same savings that you kept in a regular bank but you just changed one thing, and that's where your money goes. Now you’re getting a guaranteed interest rate till the day you die, plus you’re getting dividends on that money. But the best thing is, you can purchase what you want to purchase but your money actually never left the account.

 

Links

@thechrisnaugle

https://moneyschoolrei.com/tmm-j58526478