Episode 166 – Chris Naugle

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Chris Naugle  0:00  

The origin story is very simple. I grew up in a lower middle class family. I didn’t have money, my mother would raise me, dad really wasn’t much in the picture. But when I wanted something I didn’t just ask for it. What my mom taught me was that hero story, my mom taught me one of the most important things that we all have when we’re children. And that is the ability to dream, not only just dream. When I say dream, think, oh, when I go to bed, I dream. No, I mean, we all have dreams. When we’re a kid, I mean, think about it, like if you want to be an astronaut, who’s there to tell you as a child, I have a 13-month-old, whatever my 13-month-old dreams in her mind, she can do and accomplish. There are no boundaries in her dreaming ability. And we keep that all the way up some of us into our teens until life starts getting a hold of us and telling us we can’t do this. You shouldn’t do this. You got to do what we did. You got to live the life I did. I call it conforming. But as a child, we know one thing and one thing only creation, we know how to create what we want.

 

Richard Matthews  1:06  

Heroes are an inspiring group of people, every one of them from the larger than life comic book heroes you see on the big silver screen, the everyday heroes that let us live the privileged lives we do. Every hero has a story to tell, the doctor saving lives at your local hospital, the war veteran down the street, who risked his life for our freedom to the police officers, and the firefighters who risked their safety to ensure ours every hero is special and every story worth telling. But there was one class of heroes that I think is often ignored the entrepreneur, the creator, the producer, the ones who look at the problems in this world and think to themselves, you know what I can fix that I can help people I can make a difference. And they go out and do exactly that by creating a new product or introducing a new service. Some go on to change the world, others make a world of difference to their customers. Welcome to the Hero Show. Join us as we pull back the masks on the world’s finest hero preneurs and learn the secrets to their powers their success and their influence. So you can use those secrets to attract more sales, make more money, and experience more freedom in your business. I’m your host, Richard Matthews, and we are on in 3…2…1…

 

 

Richard Matthews  2:02  

Hello, and welcome back to the Hero Show. My name is Richard Matthews. And today I have the pleasure of having a friend of mine, Chris Naugle on. And Chris, you are the founder of Money School. And I want to just start off real quick, why don’t you do a brief introduction? What is it that you’re known for? Who do you serve? And what do you do for them?

 

Chris Naugle  2:23  

Yeah, so the biggest thing, I’m known for solving people’s money problem by helping them understand how to put themselves back in control of their money that is single-handedly, the number one problem we solve is against everything, somebody has been taught their whole life, we teach them how to take their money and take the control of it back in that’s where it all begins.

 

Richard Matthews  2:44  

So when you say people don’t control their money, what are some examples of not controlling your money? Because I think people who aren’t familiar with the finance space, might not know what you mean, because they’re like, hey, my money is my bank account, and I control it. Like, what do you mean by they don’t control their money?

 

Chris Naugle  2:59  

Sure. So it’s very easy. I mean, think of everything you’ve been taught to do with money from a very young age, we go out and we work, we trade hours for dollars. In most cases, even most business owners, entrepreneurs still create a job for themselves inside their business. And that job, whether it’s for somebody else, or for themselves, results in them earning money, I’m holding $100. So this $100 represents one hour of work that I put out. So now what we’ve been taught to do is when we make this $100, what do we do with it? Well, we do one of two things. In most cases, we either put it in somebody else’s bank, ie: the traditional bank, or if you work for a company that has an employer sponsored plan, a portion of the money you make automatically sweeps into an employer sponsored retirement plan, because we’ve been taught and myself included, from a young age to do these two things. But those two things really defy everything you should be doing with the money. Now, that should confuse everybody. Because where else am I going to put the money? We’ll cover that. But I want everybody to really kind of think about their money, this $100 that you traded one hour of your work. Now, listen, some people might be like, man, I don’t work for $100 an hour great. Like how many of these $100 bills do you want me to pull out like I got a big stack here. So whatever you’re worth an hour, I want you to put a monetary value to that. So this $100 and we’re just gonna go back to that is worth the most amount today. Tomorrow, this $100 is worth less in a year from now it’s worth significantly less and 20 years from now this is worth a whole lot less than it is today because of inflation and everything that’s happening. So this is the most valuable $100 we will ever have. Then why is it that we give up control, we put it into the bank. Now let me just go real quick into the bank. When you put money in the bank. The reason you do that is you can put it in there and take it right back out. Right. But you most people put their money in the bank and immediately take all of it back out or write bills for one 100% of what they put in their bank? Absolutely not. Most people will put money in the bank and leave some of it there, ie: Their savings account, or maybe a CD or whatever you do with the bank. You keep that money parked there. And who’s winning in that equation? Are you winning? And are you in control of the money? Or is the bank in control of the money? And is the bank winning? Well, if you said the bank, you’re correct, because the bank is then moving that money taking that $100, you deposit it and immediately moving that money because they’re certainly not taking your 100 bucks, put it in a little box in the back with your name on it, are they? They’re taking that money and lending it out to your neighbor, your co-workers, your friends, your family. And they’re making 400 to 1300% more than you are on that money. So the bank’s the winner there. You’re the loser.

 

Richard Matthews  5:45  

Fractional reserve lending, they can do it like what 25 or 30 times, they can loan your $1 out.

 

Chris Naugle  5:51  

Actually, for every dollar you put in the bank, the bank can move 90 cents, or I’m sorry, create 90 cents out of thin air, they only need to keep 10 cents out of every dollar in reserves. So yeah, that’s fractional reserve lending, I’m not even getting into that, because now all of a sudden, you’ll see how much the bank actually makes that 400 to 1300% is a simple math equation done by Bauer financial, that says, for every dollar you put in the bank is moving that money and making four to 10 times more than you are which is 400 to you can do the math. So banks are always making a lot more than you are. But we just don’t even think about that. We’re like, hey, that’s just what we were taught to do. 401K’s are even worse because the 401k you’re taking this money you made or a portion of it. And you’re giving up control of that money to a financial institution where that money is going to sit there for 5, 10, or 15 years, maybe longer. And we’re just like, oh, that’s okay. Because it’s going to grow or not. Your money doesn’t always grow in the stock market. Sometimes it goes up many times it goes down. When it goes down most people get scared they sell and they perpetually lose money. But that’s okay, we do it because we want the tax deduction. Great! That’s a big lie you’ve been taught your whole life because hey, listen, think about it, are taxes going up? Or are they going down? I think they’re going up. Right? I think big time. Now I think we all can agree that they’re going up. So we’re going to put our money and receive a tax deduction on today’s tax rate, then 5, 10, or 15 years later, we’re going to take that money back out and pay tax on all of that money at a higher tax rate. That’s completely backward. The only one winning is the US government and the financial company, because they’re charging you, let’s just call it 1%. For simple math, they’re charging you 1% for those mutual funds that you’re investing, and over time, most people tell me, this is the craziest thing. People are so I guess just either, just not paying attention or just not understanding that they’re paying a fee for their money being in their 401k. They’re like, no, I get my statement, there’s no fee. Of course, there is how much was your return? Oh, I made 7%? No, you didn’t you made probably 8.5%. But they took one and a half percent for fees, you just didn’t see it. So you just think that you didn’t pay. But those fees, let’s just use 1% cost you a whole lot. How much? Let’s just take over 20 years, let’s take a 1% fee on $100,000. What would be the cost? The answer is roughly $30,000. According to the SEC, the Securities and Exchange Commission, not me, that means 30%, over 20 years is what you lost to fees. And that’s 30% that you no longer can earn interest on earn returns on. So what you’re literally doing with your money is the complete opposite of what you do with money. So you’re putting money into this 401k we do the opposite with money than I’m saying it wrong. But like let me put it this way. Would you ever buy a car today? And then right when you get the keys to drive the car? Wait 5, 10 or 15 years before driving that car? No, we do things with money we would never ever do with things that money buys. Would you do that, Richard?

 

Richard Matthews  9:00  

No, I should drive the car off the lot that day to use it.

 

Chris Naugle  9:04  

Right, and then I love this one, would you ever go to the store and buy a loaf of bread, a beautiful Italian loaf of bread, come home, throw it in the freezer, and shut the door? Then wait 5, 10, or 15 years, come back, open the freezer door, and voila, you now have two loaves of bread. Where’d the second one come from? Your match? Oh yeah, I get a match at work. So now you have two freezer-burned loaves of bread, you would need either one of them. The same thing is happening with your money. And you wouldn’t buy your dream house with your significant other and then wait. As soon as you’re ready to move in with your spouse, you say oh, hold on, honey, honey, wait a second. We can’t move into this house for 5, 10 or 15 years. We got to treat our money the same way here. But that’s what we do, we do things with money, we would never ever do weird things that money buys.

 

Richard Matthews  9:54  

One of the things that pop in my head when you’re saying that is a phrase that I was taught a long time ago is that money loves speed. And wealth loves time, right? So you need to take your money and you need to put it to work, instead of trying to let it sit there and do nothing, especially when you’re in a debt based economy like ours, which is, by definition, the value of our dollar is constantly going down like it has to, because of the way our economy is built. So like you said earlier, the dollar that you earn today is the most valuable it’s ever going to be at the moment you earned it.

 

Chris Naugle  10:32  

I love that, and that really sums up another big problem that we’ve all been taught, I like to call it the big lie is, we’ve really only been taught from a young age, through school through college, to work for money. We’re never ever taught how to make our money work for us. That’s something we have to learn on our own. And many of us make big mistakes by giving up control of that money in the process of trying to make our money work for us. And then you said another thing, you talked about the speed of money, I would relate that to the velocity of money. Money can only be effective if it’s in motion, putting money in a bank account, putting money somewhere and just leaving it to sit is completely defying the laws of motion, because your money has to be moving, banks move money, every business in the world moves money through inventory, product, cars, groceries, they’re all moving money, we’re the only suckers out there that have been taught to park our money somewhere, just leave it and say, oh, can’t touch that, because if I touch it, I’m going to lose the interest earning potential of that money. But people think they can’t have one, without or with the other. They think they can earn interest and still have control and access to their money. But that’s where they’re wrong because they absolutely can. And they just have to change one thing to get that. But nobody’s ever been taught that. And nobody ever will be because if you were taught that you need a bank?

 

Richard Matthews  11:51  

It’s a knowledge gap. So I want to dive into that in just a minute. Two things, first, your video clicked off. And two, I want to talk a little bit about your origin story, which is how you got into this finance world and actually teaching people how to work with their money, right? So we talked about this show, every good comic book hero has an origin story it’s the thing that made them the hero they are today. And we want to hear that story. Were you born a hero? Were you bit by a radioactive spider that made you want to get into finance and teaching people about money? Or did you start the job and eventually move over here? How did you get into this world of finance?

 

Chris Naugle  12:25  

Richard, I got to ask Who told you, man? How did you know I was bit by that spider. Like, nobody knows that you’re not supposed to know that. So the origin story is very simple. So I grew up in a lower middle class family. I didn’t have money my mother raised me dad really wasn’t too much in the picture. But when I wanted something, I didn’t just ask for it. My mom taught me that hero story. She taught me one of the most important things, and we all have it when we’re children. And that is the ability to dream. And not only just dream, I mean, when I say dream, think oh, when I go to bed I dream, no. I mean, we all have dreams. When we’re a kid, think about it. Like if you want to be an astronaut, who’s there to tell you as a child, I have a 13-month-old, whatever my 13-month-old dreams in her mind, she can do and accomplish. There are no boundaries in her dreaming ability. And we keep that all the way up some of us into our teens until life starts getting a hold of us and telling us we can’t do this. You shouldn’t do this. You got to do what we did. You got to live the life I did. I call it conforming. But as a child, we know one thing and one thing only, creation, we know how to create what we want. And for me creating what I wanted started with my mom saying, Alright, great, you want the dirt bike? Well, draw it, she would put it in a way where she’d be like, well show me what kind of dirt bike and I was like mom right here, the KX 60 in this magazine, see it right here. She’s like, well, no, like, draw it, like, show me what you do on it. So I would spend hours upon hours just drawing this and every time I was drawing it, what I was doing is visualizing the act of me riding that dirt bike. And the same thing happened with dirt bikes to ponds that I wanted in the backyards, mini ramps, and dirt bike tracks, and everything I’ve ever wanted in my life started with the idea, the dream, if you will, and then articulating that dream on paper just because that’s how I did it. And I would get myself so wrapped into the act of what of me doing that. Skateboarding, snowboarding, surfing, anything, I would be so into it by drawing it out, that I physically would dream about it at night. Your mind is the most powerful thing. We don’t even know the power of the mind. But when you dream about something that you’ve been thinking about all day, your body and your mind doesn’t know the difference between the dream and reality. Because in your mind, it’s the same darn thing. So if you’re dreaming, and I’m just gonna use an example of mine, before I ever surfed, I was so intent on learning how to surf, and I was a young kid and I would dream about surf I would wake up sometimes in the middle of the night, thinking that I literally had just finished surfing. I didn’t know the difference between the dream and reality, I was awake. The only difference was I’m in my bed and I’m not soaking wet. I’m like, well, what just happen? That is the power that we have as children, those dreams are real. And they will be real if you never give up on them. But unfortunately, life has a unique way of getting us to conform to their ideologies, their thoughts, their things. For me, what was my superpower? I never conformed, I simply created what I wanted. And right up through to today, I’m not gonna say it’s been one smooth, straight line, I’ve been kicked down, beat down to the bottom, I have gone to the other side of conforming, and I didn’t like it. I didn’t like it at all. So I came back to the side of creating. And if I may one more comment, because it’ll sum up my superpower. There was a study done, Earl Nightingale talked about it. If you went around, you asked 120-year-olds, if they’re going to be successful by the age of 65. Richard, what do you think their answer would be?

 

Richard Matthews  16:04  

I would say yes or most of them would say yes.

 

Chris Naugle  16:07  

Absolutely. They would all say yes, most of them would say, why are you even asking me this, of course, I’m going to be successful, I’m going to be a multi-millionaire billionaire. trillionaire. I’m going to be the next pilot of whatever rockets going to space on SpaceX. But then something happens, let’s fast forward now. We took those 20, or those 120 year olds, and now let’s make them 65. Let’s fast forward to when they’re 65 years old. And let’s look at the statistics. There were all eager, optimistic 20 year olds ready to take on the world by 65. Out of those 100, only five of them will be financially successful in accomplishing what they wanted. Actually, only one of them will be wealthy out of 100. So what happened from 20 years old to 65? I’ll tell you one thing happened, 95 of those 120 year olds gave up, or I like to say conform, they gave up, they quit they conform to somebody else saying well, why don’t you just do this? or stop living that dream? Stop kidding yourself? Stop thinking you can do this, start doing this. And what is this? This is what that person told them that accomplished in their life. When you conform your life to what somebody else has accomplished, or somebody else thinks your life should be. It’s over. Those five did one thing and one thing different,  they didn’t conform or they created their life. That’s the only thing they did differently.

 

Richard Matthews  17:30  

Yeah, it’s an amazing thought. And love what you mentioned a minute ago that your brain can’t tell the difference between a dream and reality. And there’s actually a book that talks about that, it’s called The Ant and the Elephant by Vince Poscente. It’s a little tiny book, you can read it over lunch. And he talks about how your conscious mind is the end and your subconscious mind is the elephant you can use the ant to control the elephant’s subconscious mind. And they do a study, he goes over study in there about how the mind is actually incapable of deciphering the difference between a lived experience and a visualized experience. Because if you activate your senses with your imagination. If I was remembering correctly, more synapses aspire during the visualization process than actual lived experiences. So visualized experiences, dreams, as you were calling them can be extremely powerful, and altering your subconscious, where it’s directing all of your brainpower. So the idea that you can create something with your dreams. And we’re talking about the difference of the men and women who dream while they’re awake. And visualize life, they want to create and go create it. And I’ve had a lot of the same experiences. I remember, my wife and I, we travel full time now, which people who are watching knows because we talked about it all the time. But we had vision boards that have all the things listed on when we first got married. And a couple of years ago, we went through all the things that were on that board, they were in a little folder because we moved several times. And we’d accomplished everything we wanted on that vision board. We had BMW, we had the RV and we traveled and we had the kids like even all the way down to the kind of pets we had. There’s a lot of stuff we had forgotten but just the act of saying, hey, these are the things we want to create in our life. We accomplished all of them. And now we’ve got a whole new set of things. And every time we put them on there, if you keep working towards them, and creating what you want in your life, we’ve accomplished everything we’ve ever wanted and continue to accomplish more. Because you don’t have to conform. You don’t have to live life other people tell you, you have to.

 

Chris Naugle  19:52  

I love that. And I remember the first time we met and if I’m not mistaken, it was in Florida at that event. And you were telling me about it all these things and I’m just like, man, that guy is absolutely free.

 

Richard Matthews  20:02  

Destin, Florida. 

 

Chris Naugle  20:01  

Yeah, Destin, Florida, I was just like, that guy is just so free and what he’s doing. And looking at that, the other thing that I love is, a lot of people reach what they call the arrival syndrome. And the arrival syndrome is where somebody sets a goal. And I don’t care how big or small their goal is. But then they reach that goal. And they think, oh, my god I’ve arrived. You set the same goals, and you arrived at those goals, but then you just created new goals. So I think that’s another thing with conforming is when we arrive at a specific goal. And we just stop and say, okay, I’ve done it. That’s when everything goes back down the hill because there’s only one way to go from the top that’s bound down to the bottom.

 

Chris Naugle  20:03  

Yeah, the metaphor I always like is, once the fruit has ripen, the only option is for it to rot. So you either have to keep ripening, where you’re going to rot.

 

Chris Naugle  20:56  

I love that. 

 

Richard Matthews  20:57  

So instead of talking about your superpowers, let’s talk a little bit about your fatal flaw, which is the flip side of your superpower. So just like every Superman has his kryptonite, or Wonder Woman can’t remove her bracelets of victory without going mad, you probably have a flaw or something that you struggled with or something that held you back in your business. For me, it was a couple of things. I struggled with perfectionism for a long time, and it kept me from shipping products and actually getting into the market. I also struggled with a lack of self-care, which came out as leaving the clients to walk all over me not having good boundaries early in my entrepreneurial career. But I think more important than what the law is, is how have you worked to overcome it so you can still grow? And hopefully, your experience will help our listeners grow a little in their lives.

 

Chris Naugle  21:40  

Yeah, so early on in my life, I was a dreamer. But then, when I was in my 20s to 30s, I had a ton of success. I was running skateboard snowboard shops. I was a pro snowboarder at that time. And I got into the wall street world as a financial advisor. And when I got in as the advisor, I started to see people that made a lot of money other advisors, and some of my clients, that had significant amounts of money as a pro snowboarder, I was surrounded by a bunch of other snowboarders that did okay, but really, they were just chasing their dream. So at this moment, when I was a financial advisor, I was making a lot of money, more money than I’ve ever made that continued to do that, do really well. And as I started making more money surrounding myself with these other people in the industry, I developed an ego. So the one thing that hindered my success was my ego. And that ego carried along with it, the inability for me to accept new things. As an advisor, I thought I knew all there was to know about making money and investing. I mean, we’re just inherently trained to have an ego. And I hate to say that for any advisors listening, like, you know, this is the truth, or maybe you don’t yet, but we are literally trained as advisors to have this ego. And I carried that along. And that ego single-handedly, basically ended in me failing not just in 2008 and almost going bankrupt to the point where I had to ask my girlfriend, at the time to pay the mortgage to utilities, and I had to move friends into my house to pay rent because I couldn’t make it. But then again in 2014, after I had gone through the great recession and kind of climbed back up in the real estate world, I was still an advisor in ego there again, brought me straight down to one of the worst times in my life, which is 2014 I was on a proverbial roller coaster of having money and doing well to having nothing than having money again and doing well to having nothing and the single thing that brought me down both time I have to believe was my ego. Because I will tell you, when I reached the bottom, the one thing that changed from when I was at the top is I was open and willing to learn my mind no longer have this ego that I knew things and I knew everything that I needed to know to now I don’t know everything I need help. I need mentors. I need people to show me the way so. I think Will Rogers quote sums it up. Will Rogers says the biggest problem in America is not what people don’t know, the biggest problem in America is what people think they know. That just ain’t so. In those high times, I allowed all my surroundings and the people around me to control and manipulate and really I was conforming and I was also allowing ego to get in the way. And then when I was at the bottom I was seeking the answers seeking the truth looking for a way out and why do the wealthy do things differently than we do?

 

Richard Matthews  24:40  

Absolutely. And it’s definitely a different game that people play and I love the thought of your ego getting in the way cuz I know like anytime I’ve had problems it’s always been like coz I thought I knew better. And the thing that I’ve realized as I’ve gotten older is that the more I learned, the less I think I know. And I think that humility of realizing that I don’t know Jack really helps you to be in a space where you can ask for help. And you can have an open mind to learn things from other people and other industries that can help you grow your life and grow your business and things like that.

 

Chris Naugle  25:23  

Absolutely. And I could sum that up in something that’s I’m a perpetual student. I’m reading a book right now called The One Thing and that book talks about focusing all your attention and focus on just one thing. The one thing that you would do for free, the one thing you’d love to do the one thing you’re good at. But then what happens if you focus everything on one thing to everything else? Will it just fall apart? My summary of that is Henry Ford, the founder of Ford Motor Company, not a smart man, I think he had a fifth-grade education. He was actually brilliant, but not in the general sense of what people would think is brilliant from an education standpoint. What he was smart enough to understand is, I’m a visionary. And I’m smart enough to do this one thing that I do which is dream and create Ford Motor Company and take it to the future where it’s gonna be. But he didn’t know how to do bookkeeping. He didn’t know how to do law. He didn’t know how to do all these other things. But what he had is a little row of buttons on his desk. And every time he got something that he didn’t have an answer for. He didn’t know how to do it. He didn’t try to let his ego kick in and say, I’ll figure this out. No, he pushed the button and look for experts who know how to do it. And that makes him truly a genius because he was smart enough to know, that he wasn’t smart enough.

 

Richard Matthews  26:46  

Yeah, that’s a powerful thing. And I know, that’s something that I’m struggling within my business currently is figuring out how to focus my skills on the things that I can do and get more and more stuff to my team. And growing my team has been an important part of that. So that’s something I’m currently learning how to do. It’s definitely an important skill. And I know my business has grown significantly since I started bringing in other people instead of trying to do everything myself.

 

Chris Naugle  27:18  

Absolutely. And I think the only thing that happens when you create your role buttons, and all these other people that are smarter than you is starting to figure out like, how not to hit the same button over and over for that one person that you always rely on, because eventually that button gets worn out, and it doesn’t work as well. So you have to get smart enough to understand that there isn’t just one other person that can handle everything, you have to also diversify those different skills and things in your business. And that’s a humbling experience for most entrepreneurs, because the entrepreneur at the top always thinks, oh, I can do everything. But really what they should be figuring out is what is the one thing that they do the best? And then finding other people to do figure out what other people in their team what their one thing is, and allow them to focus all their attention on that one thing, and build the team that way, have a bunch of specialists in their fields. Because if you think there’s one person that can do everything, you’re always going to be wrong, and it’s always gonna backfire.

 

Richard Matthews  28:16  

Yeah, I’ve got a rule with systems building in our business that the system should be designed to help your teammates, your people in your team do only that which only they can do. And the same thing with my own work is I want to do only the things that only I can do. Right? And that require my unique skills and abilities and those kinds of things. So I do want to switch gears a little bit and talk a little bit about your clients. And I call this your common enemy. Every superhero has an arch-nemesis, and it’s the thing that they constantly have to fight against in their world, in the world of business it takes a lot of forms. But generally speaking, we put it in the context of your clients. And it is a mindset or a flaw that you constantly have to fight to overcome. So you can actually get the people that come to you the result that they came to you for. And if you had your magic wand, and every time they hired you to do something or go through one of the courses, you could just bop them on the head with a magic wand and not have to deal with that common enemy anymore. What is the common enemy in the world of teaching people how to control their money?

 

Chris Naugle  29:18  

Oh, wow. It’s a big enemy man picture like Godzilla times 10. The enemy is very simple. What I do is teach people the secrets of the wealthy. And it’s very simple. It involves changing one thing. So when you show somebody the path, the path is the complete opposite of every single thing they’ve been taught. So the first thing that comes to their mind is, this sounds too good to be true. And then at that point, that enemy becomes very real because now what I’m dealing with is I’m dealing with somebody that thinks what I’m telling them is too good to be true, me knowing it’s not because what I do has been around for hundreds of years and it’s been used by all the wealthiest families but I always have to overcome that. And I always repeat that Will Rogers quote, the biggest problem in America is not what people don’t know, the biggest problem is what people think they know, that just ain’t so. So they think they know what they don’t know, therefore, they think it sounds too good to be true because it’s new to them. So that is absolutely the Godzilla, for me. And the easiest way to overcome this negative mindset or this mindset of thinking, it’s too good to be true is really just to allow people to do their own due diligence, and to show them the path to teach them the path of success and how they can get themselves back on track. But then just to take my foot off the pedal, and just allowed them to do their due diligence. Now, for most business owners, this is very hard, because that means that you’re not ever going to be able to sell anything. So, right there like, well, how do you do business, if you never selling? Simple, you teach people how to do what they want. And then from there, you just leave it alone. Because at that point, now you’ve put all the burden on the client, the client now has to make a decision, you’re not going to force them, you’re not going to, kind of try to do the hard sale or the workaround sale or all the things that I learned as an advisor,  financial advisors are taught to be great salespeople, they are not taught to basically teach people the truth, and then just allow people to make their own decisions we’re taught to sell my capacity today with my clients is I teach, but then we don’t sell anything, which is kind of weird for them to because now all of a sudden, they are forced to have to go out and do due diligence, to watch additional videos to overcome their objections in their mind. And in their mind, they have to come up with one thing, this is the Godzilla, they have to decide Is this real? Or is this too good to be true? And it’s very easy for them to do that. But it requires them to take action on the knowledge that just learned. And I think, again, is knowledge power? Absolutely not. Tony Robbins talks about this, it’s the application of the knowledge that’s important. So they have to go apply that knowledge. And that right there is the Godzilla because a lot of people just want everything put on a silver platter with white gloves and said, here you go, here’s the magic thing that’s gonna solve all your problems. And then they want it to happen yesterday. So the problem with what I do is there is no magic silver bullet or silver plate if you will, and building wealth in what I do takes time. It’s a marathon. Warren Buffett gets asked, I can’t remember who asked it. But I think it was Bezos who said, Warren, you’re so smart and everything you’re teaching is so simple, why doesn’t everybody do this? And his answer was something to the tune of because it’s not easy and it takes time. And Bezos like, wow.

 

Richard Matthews  32:52  

Right back to that thing we talked about earlier. Money loves speed, wealth loves time. And it takes time to build wealth. And I’m still in that boat, I’ve been working in my business since I was 12. And I’m still not fabulously wealthy one of these days. But to the same point, we’ve also accomplished pretty much everything we’ve ever wanted, and continue to do so. So it’s interesting how that works. And the mindset of wanting to get everything handed to you on a silver platter is something that I’ve never really understood. So I have a hard time with it. But the way that you approach sales, I think is very powerful, because we have a full-service podcasting agency. And we do the same thing. We don’t do any sales, what we do is we do education, It was like, here’s what you should be doing with your podcast to grow your audience, and we give them all the tools and everything they need to do. And then the sale is if you would like someone to do it for you, we have a white-glove service that handles all of that. And that’s our sales pitch. It’s one line. Here’s what you should do, If you want someone to do it for you, we can do it. So it def definitely works. So I want to talk a little about some practical things for this actual concept of wealth. We call this the hero’s toolbelt. Just like every superhero has their awesome gadgets like batarangs, or web slingers, or laser eyes, I want to talk about some practical things in the world of learning to control your money. This could be anything, it could be the tools that you use to make your business work Notepad, calendar, marketing tools, or something that used to actually deliver how do you actually teach people to take control of their money? What are some of the tools that you use to make your business go round?

 

Chris Naugle  34:42  

Sure. So the tool belt isn’t really stacked and I don’t have one of those fancy tool belts that Batman or any of the other superheroes would have. My tool belts are very simple. And my tool belt involves a couple of tools that are outside the norm. So again, how do you take back control of your money by just one thing? Well, in my tool belt, I don’t have some special bank, I actually kind of do. But what I have is I have giant neutrally owned insurance companies, which also coupled with the knowledge of what the Rockefellers and the Rothschilds did back in their time. They wanted to create a banking system for themselves that put them in control of their money but also allowed them to earn uninterrupted compound interest on their money while still being able to use the money. So that involves a magic tool. And what is that magic tool? Well, it’s not what you think, okay, it’s not some fancy-dancy thing you’ve never heard of actually, the tool that we use, we call it a machine is nothing more than a whole life insurance policy. Now, as soon as I say that most people zone out but this tool, this machine, provided by very specialized insurance companies, mutually owned dividend-paying life insurance companies, but giant ones aren’t the whole life that most people know about. Most people think that whole life is what Dave Ramsey says is a terrible place to put your money or Suzy Orman or the other gurus and I would completely agree with every single one of them. If you went out to your life insurance store and bought a whole life off the shelf from your broke ass brother in law, or somebody else who’s selling life insurance, you probably made a drastic, huge mistake. Because what I’m talking about is a completely different type of whole life not different in its essence, but different in its engineering. Okay, so an engineer can engineer just about anything, they can take a standard car, a slow, let’s just use a Ford Focus, and they can engineer it to be one of the best rally cars in the world. So what makes the difference between the standard base Ford and the 700 horsepower rally car that wins races is engineering. But it’s still a Ford Focus. That’s a boring little car that most people, ahh, you got a Ford Focus. No man, I got a specially designed and engineered Ford Focus that goes really fast does really cool things, and wins most rarely cross races. So the difference between that Ford Focus is nothing more than engineering and design. So back to my machine, it is a whole life. But it is specially designed and engineered to do a specific thing. And that specific thing is called banking. So the problem with control is we give up control to traditional banks and traditional Wall Street investment accounts. Okay, so now if we want to change that we’d have to change one thing and that is where your money goes first. Because if I had a bank, okay, we’re going to call this our private bank and our private bank is nothing more than a specially designed and engineered whole life policy done through a giant Mutual Insurance company that pays dividends. Why would I do this? Why did the Rockefellers the Rothschilds, Walt Disney, Ray Kroc, Joe Biden, McCain and I could go on for days, but why did they all use this private bank over the traditional bank that we’ve been taught to use? Simple, control. This private bank that I’m talking about allows you to put your capital there, you go out you make $100 an hour, you take some of that $100 and you save that money, we’re only talking about the money that you’re saving, not the money you’re spending every day on milk, groceries, diapers and that stuff, the money you save, why would we put that money in our private bank with these insurance companies instead of just putting it in the bank? Here’s the reason. Let’s say I take a 100 bucks to take $100 Bill and I put it into my private bank with that insurance company. What does my private bank allow me to do? Well first off as of 2021, the private bank the insurance company pays me a guaranteed 4% guaranteed so unless your bank is paying you 4% I’m doing better already. Then every year they pay me a dividend based on the unused premium deposits that I made and then everybody else made so now I got a dividend which can push me to close to 6% so now making 6% on my money and in your bank account you’re making how much close to zero but no my money is in Wall Street I’m making 10% great.

 

Richard Matthews  39:05  

They are losing their money.

 

Chris Naugle  39:07  

Yeah, well maybe or maybe not let’s just say they know what they’re doing and they’re not losing money. So now we got to uncover something else that this magic machine does. See I put the money here and a lot of people think to make money I got to put it somewhere and I got to leave it to sit to earn that almost 6% that I’m making in this private bank, but I’m making 12% in Wall Street. Why would I put it in for six when I can make 12, because you don’t understand yet how this works. You see you can have both. This is the end asset as my friend Cal Gilliam says, he says, you don’t need to do this and just this, you can do this and that. So now, I put the $100 here, I’m earning 4% plus the dividend every year better than the bank account. But then immediately in the next 30 days or whatever, your check clears. I take some of that $100 back out some or all of it. So now I’m holding the $100 now did I take that as a withdrawal no, what I did is I took a loan from the insurance company’s general account and they allowed us, they will never ever tell you no like the bank does. So if I put money in and I want that money back, I just take a loan, oh, but loans a swear word. But what if I said the insurance company never asks for that loan back, it’s a loan that doesn’t ever need to be paid back. Now, that sounds too good to be true. But my machine, this private bank, it isn’t too good to be true, because the loan that I just took from that insurance company’s general account is nothing more than it in advance of the death benefit that they’re going to pay someday when I have my big graduation, that they go to a better place. So now I’m holding this money. Well, let’s just say you do know where to put it in the stock market or crypto or whatever your flavor is, we want to now invest this money. So now I take it, I put it in that investment account to earn those big returns that you’re so proud of that you’ll probably lose soon. But we’re not going to go there. So I put it into Wall Street. Now, what am I doing, while I’m making whatever the returns are that in my stock account would earn? Plus, I’m still making that 4% plus the dividend. So I am having two returns instead of just one. This is what the wealthy know that we don’t this is called being in control. Because I’m in full control of my money, I just put it in and took it out. But I still continue to earn uninterrupted compound interest while taking this money and making this money, like you said, go out and work harder for me or go out and move the velocity, I’m moving my money now. And I can do this with everything, I can do it with cars, I can pay a credit card. So that’s my magic tool. That’s my magic weapon in my tool belt.

 

Richard Matthews  41:42  

We have one of those whole life insurance policies. And I was never years ago that we set one up. And because we were learning some of the tricks of the wealthy as we’re growing up in our entrepreneur career, and I remember one of my favorite examples that someone gave me because not everyone is to the point where they’re actually investing money. A lot of people like I was when I first got into whole life insurance, we’re still at the point where like, I have to like pay for a car, right? And like, I have to be able to get places still, because we’re still broke. But how can you use tools of the wealthy for someone who’s like, I’m not quite to the “I” quadrant yet a Rich Dad, Poor Dad, we’re not investing money. And one of my favorite examples that was given was buying a car. So if you compare it to a traditional bank, you’re like, you go to the bank, and let’s say, you have your $30,000 spent on a car and you go to the bank, and you get the loan, and then you pay that loan back. So you buy the car for 20 grand or 30 grand or whatever. And at the end of the five years, you have paid 40 grand in interest for the car, and you have to sell the car, and so maybe you get a little bit back from that. And essentially you’re in the hole, probably about 20 grand from where you started. And they were like compare that with the whole life insurance policy where you put the money in first. So you’ve saved up for the car, you have that same 30 grand, and now you take the loan out. And during the entire five years, you use the car, you’re earning that four to 4-6% guaranteed. And you make the payments back into the account. So you pay the car off and you pay it off with a little bit of interest to yourself. So you just like you went to the bank, and then you sell the car at the end. And now what you have is you have the entire $30,000 that you took out, plus the 6% per year compounded that was earning on it, plus the interest you paid back on the loan, plus all the money that you sold the car for and now you’re ahead 40 or 60 grand instead of the whole 20 grand. And that’s the difference between controlling your money versus not controlling your money.

 

Chris Naugle  43:52  

Listen, Richard, I have to comment on that. Because what you just said is single-handedly one of my favorite and one of the best things that I teach. And literally like we’ve been talking about the secrets of the wealthy here and this magic machine. And if I change just one thing, and that’s where my money goes first, I show people how to get all the money back for every single car they will ever buy driving on. And I can teach somebody this in 15 minutes, you just describe that because really think about what we do, there are only four ways you can get a car, you can pay cash for the car, you can finance the car through the dealership, you can lease the car, which is renting the car, and you could steal the car, but I’m gonna eliminate number four because I’m gonna assume your audience is a bunch of honest people that are not stealing cars. So we got three ways to buy cars, all of those different ways involve you trading your money, exchanging your money to somebody else and giving up control, and never getting that control back. If we just change where that money goes first. So you know a lot of people like well no, if I pay cash for the car, I don’t have a monthly payment. So I win no, you lost. You just gave up in your example $30,000 of money that no longer can work for you anymore, you lost the future earning potential 30 grand. And people do this every day because they don’t want a car payment. So change one thing, instead of paying cash for a car directly from your bank account change for that 30 grand went first. Now it’s earning on interrupted compound interest, take the loan from your policy, buy the car, but now don’t stop there, most people stop there, that’s the biggest mistake. The wealthy would never stop there because your money’s not working. Now you’ve just exchanged money from your bank, your private bank to buy this car, which is certainly going to depreciate in value. And you’re not making anything, your money’s not moving anymore, just the cars moving. So what if we now just treat our money the same as we treat the bank’s money, we paid for the car, we now own the car. Well, what we should do is a simple calculation on bankrate.com, figure out how much you would have paid the car dealership, if you would finance that car, let’s say you were going to pay them 3% interest and you were going to finance that $30,000 car, let’s call the monthly payment 500 a month is what it comes up with some interest, some principle, that’s 500 a month, you would have given away to the car dealership or the finance company, and you would have been fine with that. So if you were okay giving somebody else’s bank that 500 a month, why don’t we just go through an exercise of treating our money the same as the bank’s money, take the 500 a month you would have given to somebody else’s bank and then set up a bill paid back to your bank. Your bank is this specially designed and engineered whole life. So now we write a $500 check or set up a bill pay every month to go back into your account. You know, the coolest thing is a lot of people like I don’t want to do that, why that’s $500 a month, that goes back into your bank that you have access to the very next day when your check clears. You didn’t lose that money, you’re just redeploying where that money goes. After five years, what will happen is what you just described, you will have the car in your driveway bought and paid for. Okay, cars bought and paid for. Secondarily, what you also now have is all the money that you would have given away back in your account. So for one car, and most examples we give, you would now have 90 plus percent of every dollar you paid for that first car back. I don’t know many people that buy cars and get 90 cents of every dollar back and still have the car. It’s not something most people have they either change the money and lose all that interest, they would have paid, and then have a depreciating car in their driveway that they sell for a loss. But now what I just explained what you explained, Richard is a way where you can not only have the cars that you want but have all the money back in your account to use any for anything you want. And this will never change because this is a guaranteed vehicle.

 

Richard Matthews  47:33  

And it’s such a powerful tool. And it’s not something that a lot of people understand. So I think we’ll get more into how people can learn this from you. Because I think it’s a really powerful concept more people should get to and we’ll get to that near the end of the interview. I do want to shift gears just a little bit and talk about a couple more things before we get to how people can learn that because I think of all the people we’ve interviewed on this show. This is one of those things that I think everyone should learn and should take advantage of because you should learn how to control your money. 

 

Richard Matthews  48:07  

And now a quick word from our show sponsor. Hey, there fellow podcaster. Having a weekly audio and video show on all the major online networks that builds your brand creates fame and drive sales for your business doesn’t have to be hard. I know it feels that way. Because you’ve tried managing your show internally and realize how resource intensive it can be. You felt the pain of pouring eight to 10 hours of work into just getting one hour of content published and promoted all over the place. You see the drain on your resources, but you do it anyways because you know how powerful it is heck you’ve probably even tried some of those automated solutions and ended up with stuff that makes your brand look cheesy and cheap. That’s not helping grow your business. Don’t give up though. The struggle ends now introducing, Push Button Podcasts a done for you service that will help you get your show out every single week without you lifting a finger. After you’ve pushed that stop record button. We handle everything else uploading, editing, transcribing, writing, research graphics, publication, and promotion, all done by real humans who know understand, and care about your brand, almost as much as you do. Empowered by our own proprietary technology, our team will let you get back to doing what you love. While we handle the rest. Check us out at pushbuttonpodcasts.com forward slash hero for 10% off the lifetime of your service with us and see the power of having an audio and video podcast growing and driving micro-celebrity status and business in your niche without you having to lift more than a finger to push that stop record button. Again, that’s pushbuttonpodcasts.com forward slash hero. See you there. And now back to the heroes show. 

 

Richard Matthews  49:39  

So my next question, though, is about your own personal heroes. And just like every hero had their mentors, just like Frodo had Gandalf or Luke had Obi-Wan or Robert Kiyosaki had his Rich Dad or even Spider Man had his Uncle Ben. I want to know who some of your heroes were. Where they speakers or authors who you looked up to or peers who were a couple of years ahead of you. And how important were they to what you’ve accomplished so far and growing your business?

 

Chris Naugle  50:05  

That’s a great question. I’ve never been asked this. But of course, I have heroes. When I was a young kid wanting to be a pro snowboarder. My number one hero is a pro snowboarder by the name of Teddy Hawkinson. And he was back in the 90s. In the 2000s, the greatest snowboarder of all time. I’ve gotten to know him. I’ve had him on my podcast now. But he was my hero, the ultimate hero. Everything he did, I mimicked, I watched, I learned and I studied to the nth degree. But then after snowboarding, I had other heroes when I was in the financial world. I looked up to some of the best advisors. Some of them were in the firm I was at, I was always going after the top, how did he get there? And I would go to them, and I would either exchange time for the knowledge, or sometimes dollars, I would give up pieces of cases, and I’d split them with him so that he was being paid to teach me how did you get where you’re at? Because if I’m here, and you’re here, and you’re the hero that I’m chasing? How do I close that gap? Simple, you mimic what they do, I mimicked what Teddy Hawkinson did I mimic what Mark did, and literally today. Who are my heroes today are some that many of you know, Tony Robbins hands down one of my heroes, how did he do what he did? How does he help hundreds of millions of people get to where they want to go. So I mimic what he does. Robert Kiyosaki loosely could be considered a hero because he’s in my space. And he took it to a certain level, but I can only see him as a hero until I hit a certain level, which I think I’ve gotten, then I have to find somebody else. So the simplest thing is I’ve always had heroes, I will always have heroes, the heroes that I have today are not the heroes that I’m going to have in five or 10 years from now because I will reach their level. And then I will need to seek new levels. And that’s how heroes are, from a kid, we have certain heroes, but then when we get older, our heroes change. Well, that’s my hero’s journey. Like, I’m always looking for my next hero. And all I want to do is I want to say, How did my hero get where they’re at? And how do I close that gap and mimic what they did to be right there?

 

Richard Matthews  52:18  

And I know one of the things that I learned early on in my, like, trying to find a hero’s world, for my own life was realizing that you don’t have to find the perfect person. You don’t have to find someone who’s like, they have to be someone that you’re looking up to you for their marriage and their child-rearing and their finances and their relationships. It’s like find the area that they have the success that you want to mimic. And if they have the business success they want but not the relationship success, don’t take their relationship advice, find someone who’s got the long-term relationship that you want. And you’re allowed to do that because nobody’s perfect. You’re not gonna find the perfect person to look up to or follow or read their books or listen to them on stage, they’re gonna have certain areas of expertise where you can learn from them and mimic their actions and hopefully get the same or similar results. 

 

Chris Naugle  53:11  

Totally agree. 

 

Richard Matthews  53:12  

One more thing before we get to some of the fun stuff, which is how people can find you and learn this stuff themselves is, I’m want to talk about your guiding principles. One of the things that make heroes heroic is that they live by a code. Batman, for instance, never kills his enemies, he only ever brings them to Arkham Asylum. So as we wrap up the interview, I want to talk about top one or two principles that you live your life by, that maybe you wish you knew when you first started out on your own hero’s journey.

 

Chris Naugle  53:38  

Yeah, my principles are very simple. I’ll start with one of the main guiding principles that I live my life by, and that is, give your best stuff away for free. I learned this from one of my heroes in the past. And they said to me, if you want success, give your best stuff away for free. I truly believe that what I just said by giving, if you give unconditionally without any hope of getting anything back, can’t go into a giving situation. Because you think you’re going to get something from that that defies it, it almost as a double negative, it negates it, okay, try putting two magnets together, you can’t, the same thing. But if you give in the effort and the hope of solving somebody else’s problem, you, in turn, it’s a universal law, you, in turn, will also find success. And it might be in weird ways. Sometimes when you give, you get a front-row parking spot at the grocery store. Sometimes when you give sometime later, somebody ahead of you buys you a coffee at Starbucks. Those are the returns that you get and they just multiply. But that is a guiding principle. I don’t know if this is a principle but something I live my life by, a code if you will. I have a routine, a very strict routine that I follow every day. And it starts that when I wake up and I opened my eyes, I get down on my knees and I thank God for the day and then I go through a process of different things, my clothes are set up for the day, so I don’t have to think. I typically will work out just to get my mind going, I drink a  full glass of water because I have to get my body ready and your bodies, mostly water. So these are just different things on that level that I do. But I would say the single guiding principle is what I just said about giving. If you give, it doesn’t matter, you will get and that is it.

 

Richard Matthews  55:26  

I have a theory that the sermon on the mount that Jesus gave in Matthew, I think it’s 25 it’s not a, what would you call it? Like commandments, like thou shalt live this way. It was more of a hey, I had a hand in creating the universe, and it has certain rules that you have to sort of living by, like, if you jump off a building, you’re gonna fall down because of gravity. The whole first give and you shall receive is a sort of a law of the universe in the same way that gravity is a law of the universe.

 

Chris Naugle  56:02  

100% and It’s funny, you’re saying that I’m just looking it up here because it is something that I’ve repeated numerous times, it’s something Earl Nightingale talked about, the Sermon on the Mount sums that entire thing up. And I think everybody should not just read it once but should read it many times over whether you’re religious or not religious, there’s so much you can learn from that. And I’m glad you brought it up.

 

Richard Matthews  56:25  

What I want to do real quick, I’ve got one thing I do before we wrapped the interview, and it’s called the hero’s challenge. And it’s just a selfish thing I do at the end of interviews to help me find access to people who might not be looking to do the whole podcast thing, but still have interesting stories. So the question is simple. Do you have someone in your life or in your network, who you think has a cool entrepreneurial story? Who are they? first names are fine, and why do you think they should come to share their story in our show?

 

Chris Naugle  56:52  

Absolutely. So one that would come to mind is one of my heroes, one of my mentors, Randy Garn. His story is incredible. He has exited 100 million dollar deals that he sold, but it’s not what he did or where he’s at today. It’s how he got there. His story is amazing. So I would absolutely highly recommend Randy Garn. And, God, there are so many others, but Teddy Hawkinson, if you can get him to come on the show, I think his hero journey would be incredible. I mean, he was obviously one of my heroes. But how he did what he did, to get to the levels he did was simply an incredible story. So those would be two really good ones for you.

 

Richard Matthews  57:36  

Awesome. I will reach out later and see if maybe we can get an introduction. And now we get to the fun part, which is how can people learn from you. In comics books, there’s always the crowd of people at the end, who are cheering and clapping for the acts of heroism our analogous to that is where can people find you if they want your help? Or where can they light up the bat signal so to speak, and say, Hey, Chris, I would really like to learn how to take control of my money. So I think the important questions are one, where can they do that and two who were the right types of people to reach out and ask for your help.

 

Chris Naugle  58:09  

So I do have a bad signal. And it’s blaring every day, day and night. And that is my website, it’s ChrisNaugle.com. And when you go there, the first thing you should do is grab a copy of my book mapping out the millionaire mystery, you can have it for free, just pay the shipping. That’s one swipe of your index finger, but then also watch a 90-minute video. Now I know that’s a lot for me to ask. But if you want to learn how to take back control, you have to do the same thing I did in 14, even though as a high-level advisor I didn’t know about this. And I had an extremely wealthy individual say to me, watch this 90-minute video, and then I’ll answer your questions in a call. That was the tool. The 90-minute video will teach you how to get back all the money for every single car you ever buy driving on, it will teach you how to erase and recycle and recapture all the debts and the money that you give out and expenses. It’ll show you how to take all that money back. But hey,  then you were saying who isn’t this for a while this is for the people that don’t want to get all the money back. Or don’t go watch the 90-minute video or look for the bat signal. If you don’t want to get all the money back for all the cars you’re ever going to buy driving on. If you don’t want to pay off your debt. If you don’t want to make uninterrupted compound interest. Keep doing what you’re doing because you clearly think you know what you don’t know. But for everybody else. It’s ChrisNaugle.com, a couple of swipes in the index finger, get the book, watch the 90-minute video or the 10 part video series. And from there, set up a call with me and I will answer all of your questions. And then from there, you can go on your journey to decide is this too good to be true? Or is this something that will change my financial life?

 

Richard Matthews  59:54  

Awesome. Thank you so much for coming on today. Chris. It has been excellent getting to both catch up with you a little bit and talk about what it is that you do. Because again, personally, I think this is one of the biggest tools in the wealthy’s toolboxes that is accessible to those of us who don’t have like, we don’t even have to be an accredited investor, you don’t have to reach a certain level, to start taking this level of control of your finances. There’s a lot of stuff, a lot of black boxes that are closed off to you until you reach a certain level that only the wealthy can access. And this is one of those tools that can help you take control of your money in a way that nothing else can. So definitely take up Chris’s offer to go watch the 90-minute webinar and pick up his book. I’m probably gonna go pick up a copy of your book. I don’t think I’ve read that copy yet. Read that one. So, again, thank you for coming to the show today, Chris. I really appreciate your time. Do you have any final words of wisdom for my audience before I hit this stop record button?

 

Chris Naugle  1:00:54  

Yeah, I mean, focus everything you have on the one thing you enjoy doing, and make sure that one thing you enjoy doing solves somebody else’s problem.

 

Richard Matthews  1:01:07  

Awesome. Thank you very much for coming on today, Chris. 

 

Chris Naugle  1:01:09  

It was my honor and pleasure. Thank you.