Once you understand the opportunity cost of money you will clearly see how banks are profitable and why it’s necessary to become your own bank through the Bankosaurus®. In this episode Ken and Tammi also talk about the Rule of 72, avoiding income taxes and creating financial freedom.
Ken Greene transitioned from being a Professional Engineer (P.E.) to the “Engineer of Finance.” His goal is to help other people create a “Piggy Bank On Steroids,” and earn better yields with less risk by investing Off Wall Street.
Links and Resources from this Episode
- For resources and additional information of this episode go to http://engineeroffinance.com
- Connect with Ken Greene
- The Bankosaurus® opportunity cost – 1:55
- Why the financial industry is designed to take your money, not make you money – 3:38
- What happens during the first 7 years of a mortgage – 5:09
- Understanding the Rule of 72 – 7:07
- What most radio shows and money people never talk about – 9:21
- Best practices for paying yourself back – 13:51
- Borrowing from yourself vs borrowing from the bank – 18:08
- Why Ken wants people to have financial freedom – 21:11
- How income tax relates to the Bankosaurus® – 21:55
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