Steven Bond & Curtis Ray MPI InterviewJan 29, 2019
We consider ourselves extremely lucky to have such talent and experience coming to the IREI Summit this Friday and Saturday.
So here's a Sneak Peek of What to Expect:
We'd like to give you a sample of some of the things you'll be learning about at the summit.
In this video, Steven Bond Interviews Curtis Ray (owner of SunCor Financial) as they talk about some of the key points of his recent Amazon best-selling book as well as some of the eye-opening truths you'll be learning in his workshop.
Curtis and his team at SunCor are key sponsors for this year's Intermountain Real Estate Investment Summit.
For you readers: I've highlighted the key questions covered in RED. Scroll down below to learn the topics covered.
"Hello, Fourplex Investment Group Clients! We are so glad that you are with us today. We have Curtis Ray with us, and we are going to do a quick interview to talk to Curtis Ray about the MPI system. Curtis is the founder and owner of SunCor Financial and is one of our major sponsors for the upcoming Intermountain Real Estate Investment Summit. We are so excited to have Curtis and to hear from him and his team about some of the solutions they've created for financial strategies.
You may think: Why are we having someone like Curtis at a real estate investment summit? Well, hopefully, you're going to learn that just a taste today, but I want Curtis to talk about that a little bit himself, so Curtis I'm going to turn the time over to you. Tell us a little bit about yourself!"
"Thank you Steve and thank you for the introduction also. My name is Curtis Ray and I live in Gilbert Arizona. I own four different businesses and they are all profit-generating--so we like to make money. I got into financial planning about five years ago off a simple question of "where should I put my money?"
Everyone always tells you how to make money but no one ever tells you how to keep the money. So my theory and why I really go out to talk to people is, Hey! There are a million different ways to make money, but there are very few ways in keeping your money and keeping it growing and secure."
"Nice! Great introduction, I'm glad. So we'll keep this short and sweet. I just want to let our audience learn a little bit about you. I'm going to start with a few questions that I have just for you, Curtis. First off. What is different from your strategy compared to a typical financial advisor?"
"Glad you asked that question because it is probably the most common question I get asked is relatively new in the industry. People wonder what sets me apart from everyone else. I say, "Because my focus is on income optimization." Income optimization is not account value or accumulated value or equity value or all the things we typically focus on. It comes as a completely separate thing.
A lot of people don't realize that inside of a 401k and IRA, there are really good investment platforms, but they are not very good retirement platforms. Investment platforms and retirement platforms are completely different because one has a lot of risk in it and one is not supposed to have risk in it. So when you want to focus on income and maximizing your retirement spendable income it has to have a certain focus that doesn't exist in the 401k and IRA and the traditional plans you normally have.
So that's what sets me apart. Always focusing on different features, different benefits, how you maximize your security, and ultimately having the best retirement possible."
"Excellent! Those are all great things, who doesn't want that? That's a fantastic thing to set you apart. So you recently published a book that I believe is an Amazon best-seller as well, is that right?"
"Yes, it was an Amazon #1 seller for two days, and then became an Amazon best-seller."
"Wow. Congratulations, that is an incredible accomplishment! So tell us a little bit about this book. I didn't want to spoil the title, I think it is a great title."
"So the title is named, Everyone Ends Up Poor! Why Financial Planning is All Backwards and How to Fix It. When I was coming up with the title, people were asking, "what are you going to call it?" and I said it has to be something that draws people's attention. A lot of people don't realize that a 401k and an IRA like I mentioned before--aren't designed to produce income. So when you put your money into those types of platforms, everyone ends up poor.
There's this rule in financial planning called the 4% rule. And if you want to google and fact check this, type in "the 4% rule" and it will say that the rule of thumb of how much a retiree should withdraw from their nest egg in order to secure your life (or not outlive your money) and the rule is 4%. Meaning, if you have 1 million dollars inside your nest egg, you're only supposed to withdraw 40k a year and then get taxed on it. If you have 500k, most people withdraw 20k a year and then get taxed on it. BUT the average nest egg only has 200k and a lot of people think, "holy crap I'm rich!" and they don't realize that their 401k or IRA for their whole life is only going to produce about 8k of spendable retirement income. Then plus their security, the average person retires off of 30-40k a year. And then when you take inflation into consideration--everyone usually ends up poor.
You've got to bypass that. The flaws of the 401k and IRA are easily bypassed; where you end up get 8, 12, 15% income for life if you understand the real estate game. So my book spells this out. It's 15 chapters. Only 100 pages long. But it spells out systematically how you bypass the laws of traditional financial planning and reverse the order. So instead of getting a lot of really aggressive rates of return in your early years and then downsizing. We do it opposite. We start off slow and steady wins the race and ultimately double our income in retirement."
"Excellent! So there are misconceptions in the financial world obviously because it's a massive variable pit of confusing lingo and strategies.. and a lot of conflicting strategies as well. I'm very glad you're going to clear up some of the muddy waters. Tell us: Top 3 misconceptions in financial investing.
"I always say there is a whole chapter in my book about this. But the number one misconception I have for especially entrepreneurs and real estate agents and people who go out there and just kill it. Never trust your business. Your business is not a financial plan. 95% of all businesses eventually go out of business before retirement years. Statistics are not likely that your business today or your portfolio that you have or all the things you do to make money will not be there for you when you go to retire.
So I tell people that we are only in business for one reason: to put money away for our future. When we go out there and work every single day and make a ton of money. It should be with an eye or focus to set money aside for our future. The number one misconception is that your business is not your financial plan. And if you try to make it your plan for the next 20, 30, 50 years until you die, you'll have a high likelihood that you'll end up poor and we want to avoid that. Definitely, something we don't want to cross is when you get 64 years old and you've invested every dollar into your financial plan and it goes out of business."
"Yeah. You end up as a greeter somewhere and that is unfortunate!"
"The second misconception people have is that you should take a lot of risks when you are younger. Because you always have time to recover. We hear that all the time. Because of that mentality (take a risk when you are younger and minimize or avoid it later) is why everyone is poor and why the 4% rule exists. It exists because when you are younger you are getting around a 10% rate of return on your money, and then as you get older you are supposed to allocate your funds to more conservative things which eventually you're only getting 3-4% compound interest in your 60s, 70s, 80s, and 90s.
A lot of people don't realize that your compound interest is your income. However much your portfolio or assets are growing in retirement, that is your income. So you don't want to take risks in your early years. You want to be slow and steady. You want to go and get 7-8% but maintain that % and it will double your income of that tiny little switch in mindset. Slow and steady. We don't need home runs. Home runs aren't designed for retirement planning they are designed for investments. Once you get past investments, you need income and income comes from compound interest."
"Excellent. Thank you!"
"The last misconception that people talk to me about and you'll see it everywhere. You'll see the Dave Ramsays of the world and the Suze Orman's, and most all financial advisors will say that insurance products are too expensive and you should never mix insurance and investments together. What they don't realize is that it's a huge misconception.
All through the majority of insurance products are very expensive and don't perform very well--there are a few exclusive insurance products out there that will outperform anything. By how they are designed by keeping the costs low, by still getting the security of insurance products while ultimately outperforming everything in the market because of how they are designed for security and income optimization. Insurance products are designed for income and not home runs. So when people think they underperform. They do! They provide less accumulated value or less equity or less cash value but produce double or triple the income. So what's more important, having more money in your nest egg or be able to spend more?"
"Great points. I'll tell you what Curtis; I've really enjoyed reconnecting with you--Curtis Ray and I actually went to high school 20 years ago and knew each other back then--I had not seen Curtis for almost 20 years and got a random message saying, "Hey Steve I just wrote a book and you need to read it."
So I did. Read it on a flight to Houston. It was a one-flight read. Loved the book. I can definitely endorse the book. His planning is spot on. His strategy is spot on. My mind is totally blown. So Curtis, thank you. We are so excited to have you at the upcoming summit.
Last thing for the audience here. If someone wants to set up a consultation or wants to get to know you or your company better. Where do they go?"
"You know what. I'm going to answer one little thought first. Because a lot of people are going to ask, "why are you going to a real estate convention? You're a financial advisor, the opposite of real estate!" So I'm going to do one minute on that first.
I've been researching real estate, 401k, IRA, and Insurance. I've determined that real estate is one of the best investment platforms out there. More on the short term. They are rockstars. You can make a bunch of money really quick. It's a great thing for tax advantages, security--all the different things.
Yet it does have a flaw of risk. So I like to use all of my real estate clients (I have a bunch of them) and tell them to use their real estate to fund their financial plan. Go out there and kill it in real estate, but ultimately you need something that is secure that is income optimization. Both go hand in hand. And that's why a lot of my clients are real estate agents that are going out there and killing it but need a place to put their profits that has all the advantages of long-term security and growth.
So if you want to reach out to me, my email address is: [email protected], my website suncorfinancial.com, or text me at 480-748-5825. I don't answer a lot because I do 4-6 consultations a day. But I'll always reach back out if you text me. Thank you again Steve for your time!"
"Absolutely. Curtis, thank you so much. We are excited for our audience to get to know you. It will be fun to hear all the different opinions--people talking about real estate and bashing on your world and you get to come and give them a different viewpoint and I think that is awesome. That is what the summit is all about."
"I'm bashing my world too. My world is designed backward and there are so many flaws inside of the system. But if you know the rules of the game and you play the rules to exactness, there are some amazing things that come and that is my forte--to understand the game and play to exactness so that we all win and it benefits each of us."
"Awesome. Thank you Curtis we are so excited to see you at the show. And Audience, thank you for listening. See you Friday and Saturday!"