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 bankasaurus. 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 bankasaurus 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 bankasaurus – 21:55
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