Insurance: The Perfect Banking System with Chris Naugle

Have you ever wondered how the wealthy manage to keep getting wealthier by the day? It’s all because of a banking system that they’ve discovered long ago that’s hidden in plain sight, so to speak. The Founder of The Money School, and America’s number one Money Mentor, Chris Naugle, joins this episode to share and educate people about the perfect banking system which utilizes the insurance companies that everyone’s familiar with. He goes into the details of the processes step by step, while explaining how this system works to your advantage. Chris uses his own experience as a guarantee for this method and extends his expertise in helping you understand the alternatives you have in investing in a wealthy future. 

I’m excited about our guest, Chris Naugle. He is on a mission to be America’s #1 Money Mentor. He’s a financial advisor, real estate investor, syndicates deals and does fix and flips. He’s been on TV and he’s been featured in Forbes, HGTV, ABC, and House Hunters. He’s going to deliver action-packed content here. There are tons of meat and tons of value he’s going to add. I hope you enjoy the show. 

Our guest is no exception. This gentleman has dedicated his life to being America’s #1 Money Mentor. His success includes managing over $30 million in assets as a financial advisor in financial services and also tens of millions in real estate business. He has over 200 transactions that he has done as an HGTV pilot show since 2014. He’s also a well-known speaker and has an amazing podcast. He is the Co-Founder of FlipOut Academy as well as the founder of The Money School and Money Mentor for The Money Multiplier. He has a book called Mapping Out The Millionaire Mystery. We’re going to be talking about that along with being featured in Forbes and ABC and speaking to over 10,000 Americans. Chris is going to share some knowledge with us. Chris Naugle, welcome to the show. 

Thank you for having me on. I appreciate it. 

Chris, maybe you can share a little bit about a brief overview of your story and then also your focus. 

I grew up in a humble household. Dad was an alcoholic and mom had to raise me. I barely had anything growing up, but she always made the best of it. Since we didn’t have any money, I always had to hustle, go out there and do whatever it took to make things. Whatever I wanted to buy, I had to go work for it. I worked on farms and shovel driveways. I did that and that’s how I grew up. Until I was sixteen, I didn’t even realize that wasn’t the norm. That was the life I lived. It was the norm for me, but not the norm for everybody else. When I started working at this restaurant, I realized that other people had different luxuries that I didn’t. I remember in that restaurant, they degraded me badly that I ended up quitting. I came home to my mom and I said, “Mom, I’m never going to work for anyone again.” I want to start a clothing line in the basement called Phat Clothing Company. That’s where my entrepreneurial background began. 

At sixteen, I opened Phat Clothing Company. It was a clothing line that I did at a skateboard and snowboard shop. I would take that clothing out as I was trying to be a pro snowboarder and I would sell it to all the shops. While I was doing this, I started thinking, “These guys got it made. They’ve got their own stores, their lifestyle business. I need my own store.” At seventeen, my infatuation began with wanting to have my own store called Phatman Boardshop. When you don’t grow up with any money, you don’t know any people with money. I went around and asked everybody for the $70,000 that I needed and I got told no by everybody. I almost gave up then. My mom didn’t want me to fail and didn’t want me to not follow my dreams. She had the house that she got in the divorce and had exactly $75,000 in equity. She put the house up. I was a crazy seventeen-year-old punk snowboard kid who chases dreams and opens Phatman Boardshop. 

I had turned eighteen at this point and I had this retail store, $70,000 in debt, mom’s house on the line and I knew nothing about running a business. Fast forward from that, everything went well. I went on to be a pro snowboarder. I ran these stores successfully and opened several different locations, all the way up to the early 2000s, I was doing quite well. I was living the dream. I had my pro snowboarding career, retail stores, crew, and managers, then the planes hit the towers in the early 2000s. I’d never been through a recession like a lot of the Millennials. They don’t remember the Great Recession in 2008. All they’ve seen is this upward market and this good time. That’s all I’d seen up to this point. What happened is my retail stores took a big hit and I had to go get a job. That job ended up landing me as a financial advisor. This was supposed to be a temporary thing. Either deliver pizzas or be an advisor, I know that sounds weird, but that’s how I looked at it. There was that and then once I got through this little rough period, I could go back to my life of being a shop owner and a pro snowboarder, but something weird happened. 

I love snowboarding, but I ended up loving the advisory. I was good at it. I started excelling and I became one of the top advisors. During this process, it forced me to not work in my stores, but work on my business. I turned over a lot of the responsibilities to my managers and they did a great job. As this went on, all the way up to 2008, I was crushing it. I’d started flipping a couple of houses because many watched a show on A&E back then about flipping houses and I’m like, “I got to do that. That looks like a great way to make money.” The first flip was ‘06 and things were great. By 2008, I had my next great idea. I wanted to open a big retail shop, like a shopping mall. It was a dilapidated building so I bought that building with private money. I borrowed money from the wrong guy. His nickname was Knuckles. In 2008, I had no idea that the recession was coming. I was going full steam ahead. When that recession hit, it brought me to my knees. It crushed me like a Mack truck hitting me at full speed ahead. I got to one payment away from being completely bankrupt. 

That guy, Knuckles, I remember when I said, “I’m having a hard time with these payments. Can we do something?” I’m not going to tell you what the answer was, but it was one that scared me enough to say, “Chris, you’re not going to be sleeping much and you’re going to be working all night to finish this thing.” How I got through this time is I came home one night, my girlfriend who’s now my wife, had moved in. I remember looking her in the eyes, and this was hard for me, and I said, “I need your help. I need your help paying the mortgage. I need your help paying the utilities. By the way, that bedroom down to the end of the hall, we have to rent that out to my friend, Pete, because I can’t make it. I’m going to lose it all if you can’t help me do this.” I knew it was a 50/50 shot. She was either going to walk out the door and say, “I’m not dealing with this,” or she was going to stay. She liked me because she stuck around and we ended up getting married. Because of that, I made it through that time. As soon as I got through that time, right after that, I was always a good investor. I was an advisor and I loved Warren Buffett’s, “Buy low, sell high, and don’t lose money.” 

In ‘09, everything was on sale so I started buying real estate. From ‘09 to ‘14, I bought 36 apartment units, pennies on the dollar. It would seem like I was crushing it again, but I wasn’t. I was buried. The banks decided when I brought them the 37th deal that I didn’t fit the little debt-to-income box, so they froze all my lines of credit. I had to sell all 36 units, but that wasn’t the worst part. What I also had to sell was the dream house that my wife and I bought. At that point, I wanted to quit. I was done. There’s nothing left for me. At that point, I decided I needed help. That help came in the form of a postcard to go to a three-day seminar to learn how to flip houses. There are no two ways about it. Don’t even think for a second. I was going to this seminar to learn how to flip houses. I was going to this seminar because I had nothing to lose. By going, I was getting an iPod Shuffle. That’s what they were giving away to come. Free iPod Shuffle or stay home and wallow in my misery, so I went. 

While I was there, by the second day, I met two people. I met Mike and Greg. These were the guys that were speaking and they started talking about how they were buying real estate, getting money, and using hedge funds. Everything they told me made me realize quickly that everything I was doing was the complete opposite of what they were doing. I had a realization that if this is the opposite of everything I’ve been taught my entire life as an advisor and everything else, what else don’t I know? I started questioning everything. At that point, I dove in and I did everything that it took to seek out the knowledge that they don’t teach you. That’s where the story begins. That journey brought me up to the present. 

Greg is one of my partners and Mike is one of my good friends. It was self-realization of the things that we learn our entire lives about how money works is not what the wealthy do with money. What the wealthy do with money like what you guys do, most people are not privy to that information. You have to seek that knowledge out. Once I did that, I learned that the biggest problem in my life wasn’t money. The problem wasn’t the economy. The problem was the misinformation that I’ve been given my whole life. That’s when I got off the financial hamster wheel and started learning everything that I know and started applying all these secrets of the wealthy, the things that I wrote two books on. That’s exactly how I did it. 

Check out the full Podcast Episode Link below. 

https://bit.ly/2CODeII