817: Bank on Yourself: Grow Wealth and Take Control of Your Financial Life with Sarry Ibrahim

Do you hate investing your wealth with unpredictable circumstances? Have you asked yourself, how do I invest and grow wealth without those unnecessary risk?  It’s all made possible with the Bank on Yourself concept. You can grow your money at ease without thinking of the risk! People often think that investing has to have risk, this mindset that most of us have is wrong, you don’t need to sacrifice the peace of mind of safely investing your wealth. Take back control of your financial life and start growing your wealth more strategically and safely.

Sarry Ibrahim is a financial planner and member of the Bank on Yourself organization. He helps real estate investors, business owners, and employees grow safe and predictable wealth using a financial strategy that has been around for 160 years. Today, Sarry shares his passion for helping clients grow wealth predictably without taking unnecessary risks. He explains the "Bank on Yourself" concept, which involves using dividend-paying whole life insurance to mitigate interest payments, market risks, and taxes.

Quotes

“Failure is an opportunity to learn from it; it's also like a wake-up call to improve and to pivot in a different direction moving forward.” - Sarry Ibrahim

“It's not so much of a product that one would just buy, it's a way of living, it's a way of changing certain things.” - Sarry Ibrahim

“People need to think like a bank or an insurance company in creating obstacles between you and your money.” - Sarry Ibrahim

Takeaways

00:54 Growing wealth predictably is possible by using financial strategies that mitigate risks and optimize for safety, rather than relying on high-risk investments.

01:48 The "Bank on Yourself" concept allows entrepreneurs to take control of their financial lives by using dividend-paying whole life insurance to reduce interest payments, market risks, and taxes.

09:03 Providing comprehensive financial advice to real estate investors, including analyzing their entire financial portfolio and identifying opportunities for growth, can help them achieve their long-term goals.

14:43 Failure can be a valuable learning experience for entrepreneurs, as it provides an opportunity to pivot and improve their strategies.

20:24 Balancing emotion and logic is crucial when making important financial decisions, as both play a significant role in the decision-making process.

22:43 Creating obstacles to accessing one's own money can be an effective strategy for increasing the likelihood of saving and building wealth.

Resources

Podcast: Play in new window | Download (Duration: 29:25 — 27.1MB) | Embed

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Filed in: Archive 4: 2020-2023 • Interview • Podcast

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