EP 20: Control & Compound Your Money With Darren Mitchell The MBA Way podcast

EP 20: Control & Compound Your Money with Darren Mitchell

5M ago 45:10

Content provided by Erik Solbakken, BA, CA, CPA, Erik Solbakken, BA, CA, and CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Erik Solbakken, BA, CA, CPA, Erik Solbakken, BA, CA, and CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

Send us a text

Darren Mitchell of Control and Compound breaks down life insurance facts you didn’t even know were available—insights you can use to build your wealth. To become truly wealthy, you need to invest in yourself, your business, and your real estate. When you’re not investing, you’re giving up control of your money to the bank.

Life insurance has two components: the death benefit and the cash value. By lowering the death benefit, you can raise the cash value, creating a powerful financial tool that multiplies your money. This allows you to stay in control, seize opportunities, and handle emergencies effectively.

On the podcast, Darren explores term life insurance, permanent insurance, and whole life policies. Did you know only 1% of term life insurance policies pay out in Canada? Whole life insurance, however, can help maximize wealth by creating a cash-value asset that grows tax-free. This asset provides benefits such as tax-free growth, cash surrender value that doesn’t lose value, and no impact on your credit score.

For those unfamiliar with these concepts, Darren emphasizes that financial education is crucial. Different life insurance policies serve different needs depending on your goals and life stage. At Control and Compound, the focus is on optimizing the cash value asset to work for you—even though it means less payout for them. Their goal is to ensure your insurance plan aligns with your broader financial picture, empowering you to build a secure and prosperous future.

What’s Inside:

What you didn’t know about life insurance?
How to use life insurance to control your money and build wealth.
Creating a cash value asset with life insurance.
Understanding the difference between term, permanent, and whole life insurance.
Financial education to ensure your insurance is the right fit.

Mentioned In This Episode:
Free Resources for Listeners:
Expert Investor Academy | Control and Compound Financial
Control and Compound (@controlandcompound) on TikTok
Control and Compound on YouTube
Control and Compound (@controlandcompound) on Instagram
Control and Compound
Control and Compound Financial
How Real Estate Investors Use Infinite Banking to Multiply Their Returns Webinar
MBA CPA