Achieving Financial Freedom with Leveraged Life Management's Sean Adams
July 14, 2021 | Episode 2
Achieving Financial Freedom with Leveraged Life Management's Sean Adams
July 14, 2021 | Episode 2
In Episode 2 of Becoming Legends, we dive back into another episode starring a guest host, this time Chad Bryan fills in for to Eric Grundhoefer to conduct an exciting interview with Sean Adams from Leveraged Life Management.
Chad and Sean dig into Sean’s background and what he does at Leveraged Life Management. Like a lot of Becoming Legend guests, you’ll get to hear how Sean got started with being an entrepreneur and learning how to run his own business. He’s got all kinds of experience in the financial industry, from running his own business and being the owner and founder of a small business all the way through to consulting and helping people figure out how to build their own financial freedom.
Leveraged Life Management is really all about getting control and being able to manage your own life, starting with finances and learning how to build wealth and success from a solid starting point.
Sean will talk about escaping from the cookie-cutter approach a lot of financial advisors use and how to build wealth without having to follow a bunch of rules that don’t really work or make a lot of sense. If you want to move beyond just having a savings account and a 401k, Sean and Leveraged Life Management has the info you need to get started.
Learn about creating a Cash Value Life Insurance Policy and other mechanisms for building wealth, no matter how small you need to get started.
Keep listening to learn more, and start building your own financial freedom.
Chad: Hey, guys. Welcome to Becoming Legends. I’m your host, Chad Bryan. Today on the show I’m excited to welcome Sean Adams, founder of Leveraged Life Management. I just want to get right into it. Sean, first, tell us a little bit about you.
Sean: Hey, Chad. Thanks for having me. It’s great to be here. Yeah, my background really stems from the small business world. I started my first company as the kid pushing a lawnmower around the neighborhood and caught the entrepreneurial bug. I actually spent about the next eight-nine years growing and scaling that into a full fledged home service business. We did all kinds of contracting work, and [inaudible 00:01:00] where I cut my teeth in entrepreneurship and sales and marketing and understanding how to build services. And it was — I felt like I made every mistake humanly possible, but it was my real world MBA, right? It really just gave me a crash course on how to talk to people and how to build an enterprise.
And I transitioned that into — the next couple of ventures for me was a consulting role. And I did some consulting, freelance for several companies, kind of teaching them what I had learned. And I kept coming back to the same frame of helping people with financial freedom. I would find that individuals as well as myself would get caught in this trap of making a business get profitable. But there was nothing helping us to get from profitability to building real wealth. It was all around like, take me from zero to one, but nothing take me from one to 12, really scaling a business from a wealth perspective. And so that’s what I kind of became obsessed with and what I help individuals and businesses do now is try to adopt some of those strategies that the ultra wealthy do to help them propel their financial future.
Chad: Okay. And so that’s how you became an entrepreneur, you obviously started saving money from doing those side jobs. And I’m sure that’s kind of what interested you in investing in the first place. Because I think you start to realize, when you save money up when you’re a kid, you never have as much as you think. And that never changes into adulthood. I really think that’s kind of the same. But tell us a little bit about your company. I mean, I want to know, what is Leveraged Life Management? I mean, without getting into too much of the ins and outs of it. I mean, what do you guys do?
Sean: Yeah. If I can take it back a quick step there, Chad, one of the things that I recognized when I talked about having the lightbulb moments that we have, I was making good money, like I mentioned and had the profit at the end of the day. But I was like, well, what do I do with it? Where am I sticking it? How is it helping me build that real wealth? And so I did what most people do, like you mentioned, stick money in a savings account, but it wasn’t going anywhere, right? It’s like it’s safe, it’s there, but is it working for me? And for me, it was never the case. It was kind of like stagnating there.
And so I sat down with some financial advisors and tax professionals and those sorts of things. And I got this cookie cutter approach that you put your money in these three buckets, it’s blah, blah, blah, tax advantage, so on and so forth. But as an entrepreneur, as a commission-based sales person, these different positions I ran, those things were not applicable to me, right? I would find that it was like, you’ve got to put this amount of money in and you’re restricted here, and you can’t contribute this much. And there’s all these rules that just were very burdensome on me. And so I started thinking, like, there’s no way that the ultra wealthy, people that are really successful, they’re looking at like a 401K, and a bank account and those are their two options. I knew there was more out there. And so that’s what led me into this deep dive into understanding what the wealthy are doing, what big banks are doing, what corporations do.
And I found this concept of kind of privatized banking, or what’s called a bank on yourself, it goes by a bunch of different names. The idea is where we warehouse our cash. So, in most scenarios, it’s either a savings account, or it’s one of those retirement accounts. What I found was there’s this third option that kind of overlaps both of them. And believe it or not, the big banks, these corporations, the ultra wealthy, they were creating what’s called a cash value life insurance policy for some protection elements, but also they used it as this flexible savings accounts. And at first I was like, okay, great. Well, they have billions of dollars, of course, they can get really creative with these things.
But I found out as I started reverse engineering it that there was no limits, there was no real restriction to how small you could go. You could put $100 a month into one of these if it’s put together properly. And I put one together, and then I put another one together, and then I started telling people about it. And then that’s when things started to really kick in. And I’m like, I’ve got to make this something that’s available to everyone because it was kept as a secret. No one would disclose it. It’s not something you hear about online very often. And being someone who wants to spread that message and I want other people to not be stuck in these traps that were given, I decided to start Leveraged Life Management as a result of that. Give the general public the information they need, the content education, and then we actually are the ones that set up these policies for individuals.
Chad: Okay. So, obviously helping people is the main goal. What does your day to day look like? I mean, as far as your Monday through Friday, I mean, what is it that you do? I mean, are people seeking you out? Are you seeking people out to try to help? I mean, I feel like people don’t know the options that are available to them in a financial sense. I mean, a lot of people just like you said, you stick your money in the bank. And that’s it, you forget about it. So, I mean, how do you make sure that people are aware of this? How do you educate people?
Sean: Yeah, yeah. And that’s exactly it , Chad. The concept here, there’s some stigmas to get over, right, because when we talk about money, for the first part, people get very, very touchy, they get sweaty palms, and they don’t want to — it’s not a comfortable topic. And it’s something we’re trying to really bring to the light that it’s okay, it’s healthy to talk about money, it’s worthwhile to educate yourself. Even though you don’t talk about it in school, and your parents never talked about it at the dinner table doesn’t mean it’s something that should be put off or just not bothered with. It’s something that’s important to look at.
So, one, it’s overcoming that to be open about money. And the second thing is to challenge conventional wisdom too. Because when people hear life insurance, when they hear retirement accounts, when they hear these things, if you’re not in that world, or it’s not something you totally understand, you kind of step back and shut off and go, ugh, I don’t really want to learn more about that. And so it’s something that, for our perspective, while we do a fair amount of outreach, we’re really networkers, we’re trying to connect with people on LinkedIn, and these places, but our big focus is on education, because I can’t convince you, Chad, that you need to invest in this strategy, right? I can’t go in and take your money out of something and do it, right? It has to be a light bulb that goes off for you, and that has to happen when you are ready, if you are ready. So, the only way that I can enlighten you to do that is to provide you with content and context on these strategies so that it could happen for you.
So, our focus is on, we have our own podcast, we do a lot of educational content. We have what’s called a crash course, which is just a free video series. It’s on our website, there’s like 25 videos there. And it takes you step by step through each of these concepts. So, people can get a deeper understanding, they can dive in where they want to learn more, they can avoid topics that are not as interesting to them, and it lets people educate themselves on their terms, which I think is really important. And then when they’re ready for that piece, that’s when they start to reach out. They go, Sean, I hear what you’re saying here. But that’s a little broad. Can we talk about my unique situation? And now all of a sudden, we’re having a qualified conversation about their finances, versus me trying to convince them that they need to invest in this.
Chad: Yeah, that’s the toughest thing. I think showing the benefit, because like you said, when people hear anything, life insurance, financial, anything, I mean, investing, anything, if you don’t fully understand it, you’re not going to risk your money. And I think what you’re talking about is not really so much of a risk. And I guess what’s the one piece of advice that you would tell people if they’re looking to invest their money safely, and they really want to get started, but they’re, like you said, maybe a little leery about meeting with a financial advisor? I mean, what is that first step to take to educate yourself before someone else can really start to educate you?
Sean: Yeah. The first thing I tell people is you can’t outsource your financial future. A lot of people go, I’m not good with numbers, I don’t like money, I’m not good with money. I’ll get a financial planner and they’ll solve all my problems. And it’s like, oh. I’m not saying you need to have a degree from Harvard in Business Economics to know how to manage a checkbook, or how to manage your long-term savings. But you have to have some superficial knowledge as to how some of these products work, because the only person who’s truly going to have your best interests in mind is you, right? As much as I’m trying to help people, I also find that this strategy is a good fit., and I’m going to try to show you why that is for you. But it might not be and you have to make that call.
So, you can’t totally outsource that to someone else. Perfectly fine to involve financial planners and tax professionals, but you want to make sure that you have some sort of fundamental base down, in how these things work. And I always tell people to challenge those conventional norms. You might hear Dave Ramsey and 10 other people talk about all these different concepts. But look on the opposite side of that, too, right? So, look on people that disagree with Dave Ramsey and vice versa. And find your own narrative throughout that and it’s different for everyone, right?
If I’m talking to a realtor who makes 20 grand in commission one month and zero the next, that’s going to be a lot different than the person who makes $1,500 a week, every single week, day in day out, right? There is no possible way we could blanket advice. So, one of the things I tell people is before you go to a financial planner, you want to make sure you’re getting pointed advice for your scenario. Are you someone that makes money very sparsely? Is it every couple of months? Is it every day that you make money? How are you actually tracking that, getting an understanding of what you need? Are you someone that cares about passive income? Are you someone that’s like, I truly want to be hands off, I don’t want to think about it, I just want to put it in this thing and get some some safety and liquidity, that tends to be the people that we like to set up with that.
If you’re petrified of making any kind of moves, and you’re afraid that something’s going to happen to your family, we have a lot of people that reach out for life insurance because of that, and we start there. Let’s give you a foundational level of protection. Let’s make sure your assets are covered. Let’s make sure your children and your wife and your spouse, your husband are all covered. And you have protection first. If that’s your paramount concern, we start there. So, before we jump into a full planner, I’d like people to kind of grasp where they are at that kind of emotional level with their money.
Chad: Sure. Yeah, it’s got to be tailored to the individual. I mean, like you said, everyone makes money, spends money. Just everyone uses money differently. You know, you need it for different things, you make it in different ways. And I think sometimes people just don’t know the options that are out there as far as investing. I mean, you think, like you said, you’ve got one or two options, and that’s really it. And I think it’s just having that initial conversation and maybe breaking those chains and not be afraid to have that conversation about money.
You know, we grow up and everything’s so tight-lipped. You don’t tell anyone how much you make, you don’t tell anyone this, you don’t tell anyone that, how much you spent for something. And I think we really have held on to those teachings and we don’t really have those conversations with anyone that’s not our spouse or not immediate family about money. And that’s the toughest part. You know? I think it’s just getting people to realize that there is value there.
Sean: Yeah. And one thing I would add is, when I say challenged conventional wisdom, I mean, the expression that I like most is when people realize to do as the wealthy do, right? If you want to achieve something, right, if I want to get in shape, I don’t go to my neighbor who’s in slightly better shape than me. I go to the personal trainer who’s absolutely ripped, and that person is going to give me the recipe for how to end up like he or she is, right? That’s the difference is we end up taking advice from people who are saying do as I say, and not as I do. They tell you to buy this mutual fund, and then their company goes and invests in life insurance and 10 other things, right, because it’s convenient for them to do that.
So, my point is to say, find the person that you want to emulate or that group or whatever that is that you’re trying to get to. If it’s some sort of status of some kind, or whatever you’re trying to achieve, and reverse engineer what they are doing. And that’s what I always ask people. Don’t take my word for this, right. Do your own research and you’ll realize that this is something that has not been talked about publicly, but it’s been practiced since the 1880s. This is something that ultra wealthy people have been doing for 120-plus years for a reason. There’s a ton of advantages to it. But it gets passed down in these small family circles. And that’s just one example of one of these Wealth Secrets, right? There’s many others out there. But my advice to people is always to focus on that side, and really seek out what the person that you’re trying to emulate, that’s the place to start.
Chad: I think that’s great advice. And that’s for anything. I mean, anything that you want to do, I think you find the most successful entity within what you want to do. And like you said, reverse engineer what they’ve done. And everything may not work for you, but that’s not the point. I think you’ll start to see the pathways open up, and I think that’s really good advice.
I already asked about your day to day a little bit, what was your goal? I mean, when you first started this business, I guess goals change from when you say, okay, I’ve decided I’m going to take the leap, I’m starting a business. Have you seen those change at all from like, day one of like, okay, I’m going to start this business, I’m going to teach people how to unlock these financial secrets to like now. I mean, obviously, you’re further along in the process. I mean, have you seen any of that change? Or where are you in that?
Sean: I have. Yeah, I’ll give you a really tactical example of this. When I first started I wanted to bring this concept to as many people as I could, and that’s still the mission. But what I found is as people get bought in, it’s part of a larger strategy, a larger plan, both from their life perspective, their retirement goals, how they want to use their money, their lifestyle, right, so I’m helping them solve a couple of unique problems with their finances using this insurance wrapper, right, this account within the insurance wrapper, and it’s helpful there. But what I find is often people go, okay, Sean, I’ve got this policy in place. It’s doing everything we talked about. Now what? What’s the next step?
So, I thought the majority of my time will be spent there. But I feel a lot of questions from people about how am I going to use this, what’s the direct application now that it’s in place? And so what I ultimately did is I started a podcast called Wealth Secrets. And the idea there is to speak to these individuals who start to click, the things are clicking in their head about what works. And we reveal what we call alternative investing strategies. And so these are all kinds of really fun and unique areas where you can invest that are not your traditional stock market and bonds and mutual funds.
So, we talk about, for example, a gentleman who shows you how to invest in rare cars, and you can invest in a portion of a Lamborghini or a new Porsche or something. We got a gentleman, you can see the whiskey behind me, you can invest in rare types of whiskies, scotch, Irish Whiskey, like really cool stuff like that, that it’s an alternative asset class. We have several others out there, like farmland, and raw land and different types of real estate as well. I bring that up to say that it’s evolved over time from just this, hey, here’s a particular strategy that we helped put in place. But this can also be the LeapFrog to the next thing.
So, I think one of things I’m proud of in the direction that we went is to solve a couple of problems along the way. And that breadcrumb trail has really helped people I think, to go, okay, this strategy is helpful here. But it also gets me to that next level, and it makes me a little more ingrained, I think, into their strategy.
Chad: Oh, good. Yeah, I think that’s another good point too, is when when you’re not just there to say, okay, and you mentioned it earlier, you’ve got your financial planner, and you set everything up, you have one time meeting, and then maybe you don’t talk to them for five or 10 years, or however long you decided to ignore that process. Because I know, people that do that, and I’ve been guilty of it as well. You know, my 401K is my 401K, I’m not going to touch it, I’m not going to think about it.
But in reality, you should be more hands on with it. And I think that’s just a great strategy of just staying in with your clients and making sure that they know what the next step is. And if they don’t know what the next step is, making sure that you educate them and show them the benefits of you know, what things could be as far as the next step. I just think that’s a great strategy. Listen, it’s been a great conversation. I just want to wrap up with you here. Again, Sean Adams, Leveraged Life Management. You want to tell us the website?
Sean: Yeah, for sure. Our website is Leveraged-Life.com. That’s normally the best place to go. Again, we never try to push anybody into anything when it comes to finances. We put a lot of proactive material out there, but we like people to reach out when they’re ready on their own terms. And so you’ll find the crash course on there. You don’t even have to put your email in, it’s all free online, you can check through all those things. And the best thing that I could really offer to your audience is as you start looking through this, if you have questions, you’re going to start to think, okay, well how is this applicable to my situation? I’ve got a 401K, I’ve got two kids at home, my spouse is working, you’re trying to think of all these variables. It’s a hard thing to think about through your head without a sounding board.
And so we offer people what we call a free wealth audit, which is essentially a 60 minute session that you and I get on, it’s completely free. We go through and kind of map out what you have going on. We also do what’s called an illustration which is a series of documents where I structure out what this would look like at your age, how much money you make, what you’re looking to contribute. And this documentation, it will show you the costs, the projections, everything you would need to know to take advantage of this strategy and you get to keep all that. So, it’s just to really give you a deep knowledge for your unique situation what this would look like. And again, if it doesn’t end up being a fit, perfectly fine. But we find that’s the clearest way to find out if the strategy is going to be a fit for someone.
Chad: Yeah. I would suggest check out the website if you have any interest because I was on there, I wanted to know who I was talking to and what your business was all about. And I found them incredibly informative. And like you said, there’s 20-some videos on there. It’s not like, hey come look at my business and pay me money and then I’ll tell you what’s going on. Like, there’s quite a bit of information there. And I’m not a financial guy, I’m by no means ever going to be a financial advisor, but I was able to make quite a bit of sense of everything that you were talking about. I thought it was very informative. So, again, Sean Adams, Leveraged Life Management, I want to thank you for coming on Becoming Legends. I’m your host, Chad Bryan, and this has been the episode of Becoming Legends.
Sean: Thanks, Chad.