Chris Miles – Unlocking Your Money
A Little About Chris Miles:
Chris Miles, the Cash Flow Expert, and Anti-Financial Advisor is a leading authority teaching entrepreneurs and professionals how to get their money working for them TODAY! He’s an author, podcast host of the Chris Miles Money Show, has been featured in US News, CNN Money, Entrepreneur on Fire, and has a proven reputation with his company, Money Ripples getting his client’s fast financial results. In fact, his personal clients have increased their cash flow by over $250 Million in the last 11 years!
Quick-Show Notes:
In this episode of The Millionaire’s Lawyer, JP and Chris Miles discuss:
Chris Miles shares some great ways to free up time are the following:
- Looking into other ways to generate income
- Controlling your expenses
People generally have money just falling through their fingers unintentionally
Track what you spend your money on:
- What are your subscriptions? Do you use them?
- Buying food
- Morning coffees
- Marketing
- Employees
“Don’t fill your ego, fill your bank account” – Chris Miles
Chris asks where his clients’ money is locked in prison:
- RRSP’s
- House
- Savings accounts
- Home equity
All the money that is in prison you should have working for you and making you more money
Once a corporation is financially sound they will notice that the Close Ratio will greatly increase.
Chris Miles mentions some other sources of income:
- Within your own corporation
- Memberships
- Online products
- Referral source with a % of the sale
- Joint Venture with someone who enjoys doing all the parts you don’t enjoy
Life Insurance is a great place to have your money according to Chris for the following reasons:
- Allows max Return on Investment
- You can leverage this asset
- Like a line of credit
- Loans, the Life Insurance PAYS YOU more interest than YOU have to PAY THE BANK
- Sheltered from taxes
- “Supercharged tax-free savings account”
Key Takeaways
From this episode of The Millionaires Lawyer with Chris Miles:
- Make your money work for you
- There is a lot of money slipping through the cracks
- Tracking your money could be very helpful
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