Imagine unlocking the secrets to wealth that the affluent have been exploiting for generations. This episode unravels such mysteries with none other than the brilliant Stephanie Walter, CEO of Erbe Wealth. Pulling from her vast experience as an insurance agent and author, Stephanie guides us on a journey of breaking down 'money myths' and introducing us to the strategies that the wealthy use to maximize their wealth. She addresses a common misconception about high risk investments and high returns and provides an insider's view of how affluent individuals prioritize low-risk investments and asymmetric returns. Have you ever wondered why a 50% gain after a 50% loss doesn't get us back to where we started? Stephanie dissects this paradox for us, leaving no room for doubt. She shares the wealthy mindset of accumulation versus utilization, stressing the importance of making money work for you, not the other way around. She dismantles the myth that the wealthy take high risks for high returns, and throws light on how they focus on generating cash flow. The conversation takes a compelling turn as we discuss 401Ks, the associated fees, and the potential benefits of a self-directed IRA.  As we navigate the complex intersection of wealth building and insurance strategies, Stephanie shares how insurance can be leveraged to create tax-free income. Drawing from her experiences in the insurance and real estate industries, she shares valuable insights that she wishes she had ten years ago. Stephanie's philosophy 'knowledge is power when applied' resonates throughout the episode, serving as a reminder of the power each of us holds when it comes to managing our own wealth. Tune in for a fascinating exploration of wealth creation and financial freedom. Follow David McIlwaine's Socials YouTube | LinkedIn | Instagram | Facebook Join my newsletter @ MAC Assets