There probably is no other industry as lucrative as the banking industry. They have most of the money, which means they control most things in the world. Today’s guest went deep into how banks operate and discovered that it’s not just banks that could do it, but anybody could. John Solleder sits down with Sarry Ibrahim, the founder of Financial Asset Protection, to share with us how we can start “thinking like a bank.” How can we make our money do more than one thing for us? What is the difference between good debt and bad debt? What are the techniques to economically grow during these times? How do we save on taxes? Sarry answers these questions and more, helping you build wealth and set yourself up for a successful future.
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Sarry Ibrahim “Thinking Like a Bank”
This is going to be a privilege. This is a little bit different show because it’s going to be on finance, business, money, and all things that we all need to be more cognizant of, especially in dealing with the economic situations that we’re dealing with, not only here in the United States and Canada, but throughout the world. We have readers all over the place.
It’s my privilege to welcome a new friend of mine, Mr. Sarry Ibrahim, to the show. He is, among other things, the CEO and President of his company, which he’s going to tell you about a little bit. He also hosts his podcast on money and that’s called Thinking Like A Bank, which is a great title. Sarry, welcome to the show, first of all.
John, thank you so much for having me on.
Tell our readers a little bit about yourself.
Thank you for that. I’m from Chicago, Illinois. I was born and raised here. I lived here my whole life. I run a company called Financial Asset Protection, a financial services firm. We help clients solve financial problems, reach their goals, get out of debt and pretty much whatever the clients need. Small business owners and real estate investors, we help them accommodate those things. We work with clients in all 50 states over Zoom and the phone.
We have been doing that since before COVID. It’s pretty interesting how that happened and how a lot of work from home now is taking place. That’s what we do. My journey started when I was in high school. I took a class in my senior year called Consumer Economics. It was about very basic financial literacy like how to write checks, what is interest on a mortgage, what are credit cards, how they could be terrible and how they could hurt you financially. I liked that class and the concept of how we react to money and how we feel about money.
That was imprinted at a young age in my mind to do something that had to do with solving financial problems. I got into credit when I was younger. I wanted to boost my credit when I was eighteen or as soon as I was able to get a credit card. In 2008, they used to give credit cards to people who were eighteen. After Obama took office, he passed a law saying that they can’t give credit cards anymore to people under the age of 21 because there was a lot of credit card debt for kids in high school. I was in that area.
I learned a lot about how money and banks work. I wanted to make it into a career. I didn’t know how to do that, so I got my MBA with a concentration in Project Management. I thought I was going to be a project manager. I’m more on the business side, but I fell in love with sales and marketing, believe it or not. I worked at different insurance companies and I enjoy talking to people. Initially, I thought it was going to be a major challenge, but you never know until you do something.
It might be the calling for you. I love your show and what you’re doing because this is exactly what you do. You’re network marketing, believing in yourself and going outside of your comfort zone. That’s what I did. I founded the company Financial Asset Protection. We also have the show Thinking Like a Bank where we show people how to think like a bank by applying the same strategies and principles. I’m glad to be here. I’m looking forward to talking about money.
In all of history and moving forward, the banking industry has always been the most lucrative industry. Click To Tweet
There’s so much there. Thank you for the compliments as well. Let’s talk about how to think like a bank. It’s a brilliant concept. When I first saw it, I was blown away by it. Talk about how do people think like a bank?
If we’re going to think of the most lucrative business and industry, it’s for sure going to be banks. In all of history and moving forward, the banking industry has always been the most lucrative industry. They have the most money. They control most things in the world, and it’s particularly the way that they operate. It’s not because of the fact that they’re banks, but it’s what they’re doing.
When I go to the bank and deposit $1,000 into a checking account, I essentially am giving a loan to the bank. The bank now is in debt to me for $1,000. They then take that money and then loan it out to other people. They charge a much higher interest rate. I don’t think any checking accounts give any interest at all. A savings account is 1/10 of 1%. They loan that money out. It goes through mortgages, car notes, business loans and student loans.
It funnels into the banking system. We don’t see that. It’s a thinking process that banks have. They’re connecting money from point A to point B and charging a fee for that. Over the years of doing research and learning about different financial concepts, we have discovered that it’s not just banks that could do this. Any individual or small business owner could do this.
A lot of individuals and small business owners have been doing this for well over 100 years using little-known financial concepts through different concepts of retaining capital and paying interest back to yourself. That’s why we started the show, Thinking Like a Bank. We’re not thinking like consumers or borrowers. Rather, we’re thinking, “How do we make our money do more than one thing for us? How do we deploy it, make it work for us and not just us working for money?”
Let’s talk about debt. I’ll give you a perfect example without naming a person. Long ago, in another lifetime, before I was married with a bunch of kids, I dated a pretty successful girl. She was an actress and did fairly well. I’ll never forget her coming to me one day, showing me her credit card bill and telling me that she was making the minimum payments on it. This was years ago. It was 18% interest that she was paying on the outstanding amount. She was paying the minimum every month. She made good money.
I explained to her why she shouldn’t do that. That’s a very simple financial concept that you and I understand as money guys, being around and interested in money. Many people don’t have an interest in money. They make money and they don’t understand how to pay debts accordingly. Talk about that a little bit. Where do they start? If they have credit card debt, a car loan, a home loan and different miscellaneous bills, where should they start to attack debt first?
The first step is that you want to differentiate good debt from bad debt. I’ll give you examples. Good debt is like a mortgage. The reason why it’s good debt is that we’re in a low-interest environment. Interest rates have hit 4%. It’s still relatively low compared to history. With mortgages, usually, you could do 15-year or 30-year. If you did a 30-year, the monthly payments are going to be much less than a 15-year. Interests are typically tax-deductible. I don’t know how the tax parts work in Canada, but in the US, you can itemize the interest. Property taxes are tax-deductible.
I’ll talk to your tax advisor about that if there are some tax advantages. Overall, you have the control of owning your home. That’s an advantage of good debt. You’re not locking up your capital within the home. You have that outstanding mortgage. I know a lot of successful and very financially well-off people who intentionally have mortgages. They intentionally refinance, spread out those mortgages and do cash-out refinances. They say they always want to have a mortgage for a reason. That’s an example of good debt.
An example of bad debt is an 18% credit card. That’s a bad debt because, number one, the cost of capital is expensive. Eighteen percent is a high form of debt. A lot of that goes to interest and it compounds monthly. Whatever you have, your principal interest, it adds to the next month. Credit cards are very dangerous. It could be dangerous for some people. There are no tax advantages for the interest you pay in most situations. Unless it’s a business and you’re using the debt for business purposes, it’s not going to be tax-deductible.
Credit cards have no advantage except if you’re using them for points and you’re paying off the balances every month. That’s the only time I would do it. Let’s say you are in that situation where you have a lot of bad debt and credit cards. How do you go about that? Back in that Consumer Economics class in my senior year of high school, we had this quiz. It was like, “This person has $10,000 in credit card debt. It’s an 18% interest. It was one with a minimum payment of $25 a month. When will they pay off the debt? Option A is 10 years, option B is 15 years, option C is 20 years or option D is never.” The answer is never.
If you had a credit card with that high interest and made the minimum payments on it, you would never pay it off. The way to escape that is you have to pay, depending on the credit card, the interest, and other factors 3 to 4 times that minimum payment to see some significant reduction because the principal interest rolls into the next month. They keep compounding. You need to break that compounding by multiplying the minimum payment by 3 or 4 times. There’s another method I use. It’s called using a personal financial tracker.
There are many software nowadays you could use, but I make it very simple. I take out an Excel sheet and write off the dates. For example, it’s March 31, 2022, Thursday. I write how much I have in my checking savings, cash value, life insurance and other positive assets. On the far right, I write how much debt I have. Let’s say in credit card ending in 1234 and I have $10,000. I see now all the credit cards I have and all the debt I have in general. I see it all in red and I make a plan like, “Which one needs to go first?” If it’s 0% interest until 2023 or I have one that’s a high interest, I might say, “Let’s get rid of this one.”
There’s a plan and a strategy behind what I’m doing. I’m not just guessing, writing bills and hoping that everything goes away. There’s a strategy behind attacking that debt. There’s a snowball method where you pay off the smallest debt first and then take that money plus the money you’re already putting into it and then roll that into the next debt and so on until you pay off all your debt. The takeaway is to differentiate good debt from bad debt and then have a solid plan in place to identify, “Credit card ending in 1234 needs to go by December 2022 or whatever the case is.”
A good debt is in a low-interest environment. Click To Tweet
There’s an old saying that we came up with in the direct selling world that I’ve been in for almost 40 years, “Take an interest in interest.” Wealthy people take an interest in interest. People who aren’t wealthy, be they poor, middle-class or whatever you want to term them. They don’t pay attention to that. What you said there is so right on. If you had something at 0% interest, don’t worry about that. Let that one sit. Attack the one that you’re paying interest on because the interest is what eats our lunch.
Einstein said, “Interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.”
Let’s talk about the best strategies in this environment. We don’t have to tell our readers. They know the times that they’re living in. We have had COVID followed by a war that’s still isn’t resolved. With all that said, we have lived in some insane times certainly. Having said that, people who have kept their wits are growing economically. What are some of the best ways that people can grow economically during these times?
What does that mean to grow economically? It’s to make, keep and preserve more money. How do we do that? We could do that in a couple of ways. We could do that from our active income by going out, selling, marketing, doing actual things and earning active income. We have to be there. Physically and presently, we have to be there to make that money and then there’s passive. Passive is where other things make you money, like investing in passive real estate syndication. Somebody else is doing the work.
You are earning passive income or investing in the stock market, mutual funds, bonds, or a brokerage account that could pay you back. It’s differentiating active versus passive. Growing economically would be growing in both of those places and with the intention of growing more of the passive side. We’re taking from the active and then moving that over to the passive. Why would we do that? Why move active income into passive and have the passive pay us back? The short answer is, so we don’t have to keep working and doing the same thing over and over again.
The thing that got me interested in sales and marketing was that it is hard work. It’s difficult and exhausting. We do it because there’s a much greater return on doing it and a big ROI on it. What kept me in the field and what kept me going was the ROI of the residual parts of it, like making money afterward without necessarily working. You still have to be there, but that’s the passive aspect of the business or service. I’m earning residual income from the product or service.
What about the residual income from things that don’t involve your product or service at all outside in different baskets and areas? What people need to focus on is that you want to move active income into passive income and then earn that in the future over and over again. That way, whatever happens in the stock market or the industry isn’t going to be affected. Not all investments are going to have those places where you can invest in them. Regardless of whatever happens in the market, you won’t be affected. Only certain things can do that.
Let’s talk about the taxman because the taxman comes within the United States and Canada, especially for people. A lot of people are self-employed. How do they save on taxes? What are some of the tax advantage vehicles that are out there?
It depends if you are self-employed or a W-2 employee, which I assume most of the readers here are going to be self-employed.
It’s probably 98%.
There are a lot of tax advantages pretty much from leaving your office or home to using your cell phone. Talk to your advisor about that. There are so many tax deductions there. At the end of the year, let’s say you’ve exhausted all your deductions. What do you do now? It’s differentiating between using a pre-tax vehicle or a post-tax vehicle. What that means is like, “Do I pay taxes now? Do I defer that into the future using an IRA in the US or a 401(k)?” In Canada, it’s RRSP.
We’re using pre-tax. We deduct our taxes and put them into a qualified account. Over time, let’s say it’s 20, 30 to 40 years later, we go to take that money out. All of it is taxable. That’s a strategy. They’re using pre-tax, deferring it to the future and then paying tax in the future. There’s also another strategy where you pay tax on it now at your current tax rate and then it grows tax-free. You take the money out tax-free. Both of those have their places for people at certain times and certain things.
One of the things that we specialize in is the post-tax. It’s paying taxes after all the deductions and all the itemized things you’ve done and then putting it into something that’s post-tax. That can grow in the future tax-free and then come out tax-free in the future. Essentially, you can have a tax-free retirement. Back to going from active to passive income. You’re taking active income and converting it into passive growth so that way, you can take out passive income tax-free in the future.
Let’s talk about some specific products. These are more US products. I don’t know the Canadian equivalent. My wife is Canadian, so I do know the RRSP because I got some up there. Let’s talk about your thoughts on 529(c)s, for example. Describe them because not all of our readers will know. They’re either parents or young guys like yourself reading that are having their families. In some cases, we have a lot of grandparents that might want to look at 529(c)s or consider something like it. I don’t know if there’s another option or not. I’ll ask you that question in the marketplace for education.
Differentiate good debt from bad debt, and then have a solid plan in place to identify that. Click To Tweet
A 529 plan is typically state-specific. It depends on the state you live in. In California, they’re not that advantaged. To give some context, a 529 plan is a college savings plan. Typically, you can get a tax deduction for contributing to the money. It grows tax-free. You can take out the money tax-free with the gains if you use it for qualified expenses. That’s what a 529 plan is. It depends on the state you live in. It goes back to the control aspect of a qualified plan.
This is where having a financial advisor or more of a financial coach helps you because it depends on your situation, what your goals are, what tax rate you’re in and what tax rate you expect it to be in. It goes through one of our concepts of having a financial coach or somebody who is invested with you and is alongside you, working and helping you achieve your financial goals.
A 529 plan could be good. It could also not be favorable because what if you contributed to a 529 plan and get into the tax deductions, but then your child doesn’t want to go to college or they get a full-ride scholarship? Now, all that money that comes out of the 529 plan, the gains are taxable. There are some small things to consider like that. It’s having somebody who works with you, knows your specific situation, and can be agile. Go between different products, solutions and methods, and bundle it all together so that it’s relevant to you. That’s a key takeaway from this episode.
Let’s talk about SEPs and other retirement types of plans, especially for people who are self-employed. Most of our readers are either full-time network marketers or people who do it on the side. They’re trying to save for and, in a lot of cases, retirement. Sometimes it’s something less large, like a new car, a vacation or that type of thing. Most of them are long-term thinkers. We’re trying to get them to think long-term so that they see their business as a vehicle to do exactly what you were saying and put away money for their future and their kids’ education and money that’s deferred tax-wise.
Let’s talk about SEPs and give descriptions because a lot of our people are new to owning their business. They have been focused on building their downlines in their organizations, which they should be. They haven’t thought about, “I’ve got this extra money. What do I do with it?” I would love your conversation on that.
That’s a good problem. You’ve gone through the hurdles of small business ownership and entrepreneurship. Now, you have a surplus. You have extra money coming in every month and extra money in the bank. These are fantastic problems. These are problems we want, “What to do with that?” You want to think about moving this money somewhere that could outpace inflation at the least that will grow without you having to contribute any effort or skills towards that money or take on very little risk or some risk but minimize the risks to grow that money over time.
This way, eventually, the passive growth of your money will outpace what you’re earning actively. That’s a goal you want to get to or consider at least. You could do that with SEP-IRA. It’s pretty much an IRA for small business owners. There are typically some nuances to it. It has to come out of payroll or certain ways. You can deduct your income that goes into it up to a certain limit. It grows tax-deferred or tax-free. We take the money out in the future and you would pay taxes on it. It depends on which one you want to accomplish. If you’re trying to lower your taxes, it would be a good idea.
If you want to pay taxes, pay your extraordinary income tax and then grow it tax-free. You could look at a Roth IRA where you grow the money tax-free. The money comes out tax-free. You can even self-direct certain things like a Roth IRA self-directed into real estate or private money lending. There are a lot of portals nowadays where you can invest passively in deals through peer-to-peer lending and other things like that. You can potentially use your Roth IRA to earn that. On a side note, if you didn’t do it with an IRA, that’s fine. A lot of people still do it, but you would be exposed to passive taxes every year.
You would have your active income taxes from that plus the passive income taxes from that, which could be a burden for you because, ultimately, you are going to pay more taxes that year. If you have it sheltered into a Roth IRA tax-free vehicle, then the money that goes into it isn’t exposed to your taxes, nor does it affect your active income. Plus, it goes back to the retirement thing. You don’t want to earn a lot of taxable money in retirement because it’s going to affect your Social Security income and you got to pay more taxes. It affects your Medicare premiums in retirement in the US.
If you’re over 65, you’re earning Medicare, if you’re married and you file more than $180,000 in adjusted gross income, it could expose you to IRMAA. That’s Income-Related Monthly Adjustment Amount. That means you pay more for your Medicare Part B premiums because of your income. What if your income in retirement was tax-free? It wouldn’t expose other areas like your Social Security tax, income tax and Medicare premiums. That’s what you want. You want to increase your retirement income without exposing any of those other things and opening up those doors.
Here’s one of the other things that come up a lot. My mother passed away years ago. We were lucky. We had a long-term care policy for her. She broke her hip when she was 85. She needed to go into a home. She passed at 92. That helped. It didn’t pay everything, honestly, but it paid. I can talk about that a little bit because people are living longer. I was up doing my cardio in the morning. I started thinking about how many friends I have around my age, a little older and a little younger, that still have either both parents or one parent still alive. Their parents, in most cases, are still at home.
They’re 85 and 90. There’s even one case at 95 years old. They’re still living by themselves. A question for you on this is on long-term care policies. Are they or aren’t they a good investment in your opinion? I hear both ways. I don’t want to be hypocritical. I bought one for myself and my wife because of what happened with my mom. I’ve heard the other side of it that maybe they’re too expensive than insurance. I would love your opinion. If you can, before you get into the opinion side of it, educate people a little bit about what theoretically the benefits are.
I’ll start with what is long-term care insurance. Long-term care insurance pays for non-medical-related things in nursing homes or potentially at home. For example, somebody is diagnosed with dementia. They need 24-hour care. It’s not necessarily medical care but physical care. They need to be taken care of. That’s what long-term care insurance pays for. In the event that somebody needs that care, they go to a nursing home or they need home healthcare. Your health insurance only covers a small percentage. It might cover the doctor visits, the labs or the prescription drugs required.
Medicare only covers the first 100 days of skilled nursing. There are some limitations to what your health insurance and Medicare will cover in regards to long-term care. Health insurance does not cover the non-medical parts of long-term care, which is what long-term care essentially is. It’s the non-medical part of it. Health insurance does not cover long-term care. That means the only way that you can pay for long-term care is a combination of three ways.
Wealthy people take an interest in interest. Click To Tweet
One way is cash. In the US, the average nursing home cost is about $10,000 per month. Number two, you could do a long-term care insurance policy, which covers some of those costs, but there could be limitations like copays, deductibles, and things you have to meet. The third, which is the most common and the least favorable, is Medicaid. Medicaid is a state and federal program for people who don’t have enough money to pay for long-term care expenses.
A lot of people have middle-class lives, but when they become ill and they need long-term care, then they go to Medicaid. It’s not just people who have been in poverty their whole lives. It’s also everyday people. The majority of people end up on Medicaid in long-term care. There are only three ways you could do it. The best way of those three is through a long-term care plan because it costs you the least at that moment. Plus, you don’t have to give up. When you go on Medicaid, you have to essentially spend your assets.
If you have $50,000 in a checking account and you want to go on Medicaid to pay for long-term care, you have to spend all that money on healthcare-related items. Let’s say you went to a nursing home that was $10,000 a month. You would have to pay $10,000 a month for five months until you spend on your assets or at least down to $2,000 and then you can be eligible for Medicaid. You have to essentially get rid of all your money legally in a compliant manner only on healthcare expenses.
You can’t give any money to any family or friends within a five-year lookback period. If you did give somebody money, you have to wait for five years to apply for Medicaid. They trap you, in other words. Either you pay cash or spend all your money on healthcare until you’re broke. That’s the Medicaid option. The best route is having a long-term care plan. To get a long-term care insurance plan is not that easy. It’s not something you buy in one day and then pay for it. When you need long-term care, you use the whole policy.
Typically, it tends to be expensive. They tend to have a max age of 55. They’re not going to insure people above age 55. At one point, over 100 insurance companies were selling long-term care insurance, but then it dropped down to 5 companies because they couldn’t take on that risk nor could people keep paying those premiums. It was a bad deal for customers and insurance companies. A couple of companies are still in business and they’re getting good at giving low-cost premiums.
It opened up a whole new chapter in financial services like long-term care hybrid products where it’s not just a long-term care policy that you’re paying a lot of money into and have to qualify for but maybe an annuity with it or a life insurance policy too, which is one of the main focuses of our firm. This is exactly what we do. We help do hybrid solutions like this. You could, in theory, get a whole life policy with a rider on there that allows for illness care or chronic illness care. That way, if you do need long-term care, it could pay for that. It has a cash value that grows.
It outpaces inflation. It’s accessible. It has life insurance. You could pay it up too, so that way, you don’t have any ongoing premiums anymore. The growth is tax-free. If you use the money for long-term care, it’s tax-free. If you pass away the beneficiaries, you get the money or income tax-free. That’s what I would recommend for people to do. Rather than getting a standalone long-term care insurance policy, get something that’s more hybrid and that could do more than one function.
When we first looked at it with my mother, for example, years ago, the riders weren’t there. It was like, “Here’s what you got. Here’s what you didn’t get. Here’s what you paid for.” It’s pretty black and white, although there’s a lot of black and white with a lot of grays. Insurance companies’ lawyers are magical about writing this stuff for them, not the consumer. By the time that we bought it a couple of years later, we got the insurance rider. If either one of us dies, the life insurance pays back the premiums.
To that point, that’s a good reason to get in touch with Sarry, or if you already have a financial planner, somebody who understands this stuff. I don’t mind sharing this with you. My dad was a working guy. He was a blue-collar guy in New Jersey. He was a union electrician. When it got to the pension time, as he got up in years, he had a guy on his job who told him, “If you take the life-only option on your annuity, you get more money while you’re alive.” That was true. Unfortunately, he annuitized his contract when he retired and lived a whopping nine months. When he died, the annuity died with him.
This is why it’s so important to seek out people like Sarry or other people in the financial world if you have a question, be it on long-term care, SEP retirement, 529(c)s, life insurance and, for that matter, be it on your property and casualty insurance. If you have a question, you need to get the answers to this stuff because you don’t want to all of a sudden get sick and find out that you’re not covered because your name is Pete. They only cover guys named Bob on Tuesdays. That’s the way. Unfortunately, insurance companies are in business for insurance companies, not for you.
You’ve got to make sure that what you get is what you’re paying for. Without slandering any insurance company because I know you’ve got to deal with them, comment on how people should ask those questions to people like yourself to explain in layman’s terms so that they have clarity on these products that their hard-earned money pays for from their network marketing business or their traditional jobs so that they have that clarity in their financial agreements.
The simple way to answer that is when you’re getting long-term care insurance, life insurance, an annuity or something that’s going to financially back your family, it is never an over-the-counter product that you buy with the best rates or qualities to it. It’s not a commodity. It’s not something that you’re buying that appears to be the best. It’s the person you’re working with. You’re buying the person you’re working with like the advisor and their competency, skills, training, problem-solving abilities and care for you.
That is what you are purchasing when you are going with these products and services. The insurance companies are tools in the background. What I sometimes say with clients is, “Let’s do this policy. What’s the growth rate on it?” I work with another advisor who is going to look at a different company. I don’t blame consumers for doing this. They want the best things but that’s not how you find the best products. It’s not an over-the-counter shelf that you’re buying in. You want to go to the best retail store that’s selling it.
It’s about the individual, the person or the advisor you’re working with. If you trust them, they trust you. They will find you the best things and advocate on your behalf. One thing too is that when you buy an insurance product or insurance policy, that’s the first step. That’s not the last step you have. That’s starting the contract. What happens if there’s a claim? What happens if rates go up? What happens if the company gets bought by another company?
Interest is best built yesterday. Click To Tweet
What happens if they decline you after within two years because they find out something was incorrect on the application? It’s always about the post-application part with the insurance world that matters, not just getting it. Focus on the person. Take your time and deal with the person that you’re working with and not just the products or the companies they sell because it means nothing at the end of the day. It’s more about the person you’re working with and holding the person accountable and liable for helping you choose these financial solutions.
I wrote the book Leave Nothing To Chance, an Amazon bestseller, with my business partner, Foster Owusu, from beautiful Toronto, Canada. Prior to that, I wrote another best-selling book called Moving Up: 2020 with another good friend of mine, Keith Hooper, out in California. Those books are on network marketing but a lot of what Sarry and I talked about. It’s on money and your future because everything that we referenced so far on the show is about your future, whether it’s an event of your or grandkid going to college.
How are you going to pay for that? Your retirement is important. The third subject that we talked about is long-term care because we’re living longer. Maybe mom and dad are living longer. Some of you are in that situation where mom or dad are in their 80s or 90s. You may be there. You will be there with modern healthcare. A lot of you are in great supplementation. You’re taking good care of yourself. You go into the gym. You’re going to live a long life, but who’s going to pay for that?
You don’t want to run out of your money while you’re still here, needless to say. That’s why financial prudence and financial education are so important. Sarry, let’s come back. I want you to tell people not only how to get a hold of you. If you have somebody good or somebody you’re comfortable with that you’ve been working with, by all means, stay with it. If you don’t, feel free to contact Sarry. He will tell you how. Also, tell them about your podcast and some of your other services.
We have a podcast called Thinking Like A Bank. You can find it at ThinkingLikeABank.com. We release weekly episodes. We just released Episode 54. If you want to learn more about raising capital, saving more money, saving on taxes or getting into real estate either actively or passively, check out the show. I’m pretty active on LinkedIn. You can connect with me there. If you go to ThinkingLikeABank.com, everything will connect together. There’s the YouTube channel, the podcast, my LinkedIn, my email address and my calendar. Look to schedule a free appointment with me. It’s all included. I also wrote a book called Thinking Like a Bank.
It’s more of an eBook that I give away for free. You can go to the same website, ThinkingLikeABank.com and download the free eBook. Check it out. Learn more about the concepts we specialize in and how they can help you grow safe and predictable wealth over time and how you can grow money tax-free, how you can use it to support your network marketing business or other businesses you have. I would love to hear from you. If you’re serious about changing how you look at money and want some financial advice and financial help, I’ll be more than happy to help you out.
Thanks so much, number one. I would love for you to be a regular guest every couple of months here because these are the topics you’re not going to hear about in a network marketing meeting. We’re talking about products, paid plans and a lot of other things that are pertinent to the here and now of getting started. Once you get started, you want that predictable outcome for the money you make during your working years. You’re still a young guy, but I can’t believe I’m going to be 61 years old here in May 2022. I look at it and I’m like, “I’ve been doing what I’ve been doing forever since I started in college.”
Years are going to go. What are you going to do during those years? If you listen to what Sarry shared, it’s great financial advice. Get rid of those high debts because they’re robbing you of your future. They’re robbing you from taking the money and putting it into passive investments that he mentioned or other types of things that are to your advantage long-term. Remember, at the end of the day, and I’m going to give you the last word on this, you are here to learn how to build a financial fortress around yourself and your family in the years to come. I would love to get your thoughts on that. Let’s close out the show.
Thank you so much, John. Thanks for having me on. I appreciate it. It’s all about the future and building up wealth. Interest is best built yesterday. The sooner, the better. You have time to work in your favor. It was a pleasure being here. I would love to come back in the next couple of months.
You’re always welcome. We’re going to bring you back. Count on it.
- Financial Asset Protection
- Leave Nothing To Chance
- Moving Up: 2020
- Episode 54 – Thinking Like a Bank
- LinkedIn – Sarry Ibrahim
- YouTube – Sarry Ibrahim
About Sarry Ibrahim
Sarry Ibrahim’s business is to help high net worth individuals, real estate investors, business owners and retirees grow and protect their wealth predictably and safely. As a Financial Consultant, Health and Life Agent, Sarry has cultivated a reputation for putting his clients first, no matter what. He prides himself on attending all client meetings without expectations or preconceived ideas to ensure that he is solving his client’s problems. That’s the value Sarry offers.