Passive Compounding Growth Strategy -The Richer Geek

Today we’re talking about a little bit of a different way to build wealth than usual. Although today’s guest originally did have his own business, that isn’t how he advises his clients to make money now. Instead, he focuses on teaching people how to harness the power of compound interest to build wealth in the long term.

Risk is the enemy to wealth, once you understand this, wealth gets easier to achieve.

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Curtis Ray is a money scientist and bestselling author. He’s the founder and CEO of SunCor Financial and an expert on Maximum Premium Indexing, a new and highly profitable spin on the indexed universal life insurance plan. His latest book is The Lost Science of Compound Interest.

Curtis and I talk about his entrepreneurial experiences and how he got into being a money scientist. He also walks us through compound interest and why it’s so powerful, despite a lot of people not using it to its full advantage. And he also shares why it’s so important to minimize risk with your investments if you want to build wealth for the long haul.

In this episode, we’re discussing…

  • How Curtis got his start in the field of finance and why he developed his Maximum Premium Indexing (MPI) strategy.
  • Some of the flaws in common investing vehicles like 401Ks, single-family real estate, and other options.
  • How compounding works and why it is such a powerful tool when you abide by it.
  • The five rules of wealth to follow, including paying yourself first and starting to compound your money ASAP.
  • Three ways to achieve financial freedom with compound interest, and the timescale of each.

Curtis’s Top Tips:

  • Besides money, your number one asset is time! – You won’t always be able to wait for the market to rebound if your assets get caught up in a financial crash. You have to have a portfolio that doesn’t rely solely on long periods of time to generate money for you. Time is what dictates compounding!
  • Always be compounding – Your money can keep making you money if you put it in a secure investment vehicle and invest more than inflation will cost you over time. Don’t wait if you want your money to compound to its fullest potential.
  • Slow, steady, and secure will win the race – A lot of people like exciting investments that require a lot of time and effort to manage. But Curtis thinks the real power lies in investing a certain portion of your income over time – depending on the timeline you’re working with – and letting compounding do the rest. It’s not pretty, but the results speak for themselves.

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