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Build Your Worth Framework

This page will share with you my tax-free growth strategies for building wealth for my family that I have learned through education and research. This is not financial advice.

This is not intended to be financial advice. This is just one person telling you what I wish I knew. If I could go back in a time machine, I would have myself read this when I graduated from high school.

Build Your (Financial) Worth with these tax-free growth strategies:

Roth IRA

After reading the book

The Power of Zero⁠

, I decided to contribute to a Roth IRA instead of a traditional 401K or 403B retirement account.

A Roth IRA is retirement account that you contribute to after you pay income taxes. Because of that, you will not be taxed on that money in the future. With anything good offered by the government, there are some limitations. In 2022, that contribution limit was $6,000 per year, and in 2023 the amount will be increased to $6,500. You can learn more about a Roth IRA by reading this

article⁠

I chose this type of retirement account because the government continues their mismanagement of funds, and I am confident that taxes will be higher in the future. By investing in an account that allows my money to grow tax-free, and I will not be taxed on it when I take it out after age 59 1/2, I am ensuring that all of the money I put in that account will be mine in the future.

I opened a Roth IRA account with

Fidelity⁠

. I chose to open an account with this institution because I learned after my research that it made it easy to two things that mattered to me:

The ability to

dollar-cost-average⁠

buy fractional shares⁠

The ability to have an

Index Fund strategy⁠

in my account.

Dividend-Earning Whole Life Insurance

I decided that I needed to have a dividend-paying Whole Life Insurance policy after reading this book:

What Would the Rockefeller’s Do?: How the Wealthy Get and Stay That Way, and How You Can Too⁠

⁠

A dividend-paying Whole Life Insurance policy is a life insurance policy that protects you for life, while earning cash value. Because it earns cash value, it has both a living benefit and a death benefit. The living benefit allows me to use that cash value to invest in assets.

When this type of policy is properly structured, you can create your own family bank or have an infinite banking strategy. I was motivated to do this after reading the book

How Privatized Banking Really Works.⁠

⁠

If you’re interested in learning more about the infinite banking strategy or to start your own whole life insurance policy, you can contact me

here⁠

Indexed Universal Life Insurance (IUL)

After reading the book

Top 25 Ways an IUL Can Secure Your Future⁠

, I decided I also needed to have an IUL to get past the limitation of only being able to contribute a certain amount of money per year to my Roth IRA.

An IUL is a whole life insurance policy where the cash value increases based on the performance of an Index, such as the S&P 500. They have an annual cap to the earnings, such as 10% and do not participate in loss when the stock market goes negative. Despite working like an investment, it is a life insurance policy, so you also benefit from having a death benefit.

An IUL grows tax-free and give you the power of uninterrupted compounding interest.

If you’re interested in learning more about the infinite banking strategy or to start your own whole life insurance policy, you can contact me

here⁠

Real Estate Investing

Real estate is one of the greatest wealth builders in our country. As a child, the Section 8 program rescued my family when we didn’t have a home. Becoming an ethical landlord is one of my callings, and if you’re just getting started on your wealth building journey, here are a few programs that can help you get started being a real estate investor:

⁠

The NACA Program⁠

⁠

FHA Home Loans⁠

⁠

Both of these programs give you the ability to purchase a home that has 2-4 units, so you can “house-hack” by living in one unit and renting out the others. This will give you the ability to become a homeowner and investor at the same time.

Eliminating your housing expense, will give you the freedom to pursue Entrepreneural dreams, and put more money towards your Roth IRA, or to fund your whole life insurance policies.

Building Wealth is more than just the money

The Build Your Worth Framework is more than just building financial wealth. Worth has a holistic approach to it, and here are some other areas that will help your wealth-building journey:

Build Your (Spiritual) Worth

Take 10 minutes each day to meditate, pray or practice mindfulness in your favorite way.

Build Your (Health) Worth

Move daily, eat whole foods, drink lots of water. Health is wealth.

Build Your (Self-) Worth

Despite how you grew up, despite what’s happened in the past, YOU are worthy of wealth, love and happiness. (Repeat this to yourself 20 times a day for the next 30 days.)

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