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PPDC 56 Chris | Be Your Own Bank


The secret to being rich and successful is to BYOB (Be Your Own Bank). Being your own bank allows you to be in full control of your money. You’ll have access to your money immediately, whereas if you use somebody else’s bank, you’ll lose that money. Remember that every dollar that you spend needs to work for you. Stop spending time for money because your time is precious. In this episode, join Dan Clark as he talks to the owner of Money School, Chris Naugle about his revolutionary relationship with money. Discover how his realization of being your own bank, catapulted him to the top of his profession as a financial coach and investment strategist. Understand how this process of being your own bank works as Chris goes in-depth into this discussion. Also, find out about the 6 laws of wealth that he shared with his daughter. Don’t be afraid to share what you know and take that leap.

Chris Naugle Shares His Revolutionary Relationship With Money That Catapulted Him To The Top Of His Profession As An Financial Coach And Investment Strategist

This is an interview with Wall Street guru turn financial literacy coach and Founder of the Money School and Private Money Club, Chris Naugle. Welcome to the show, former athlete, Hall of Fame speaker, New York Times bestselling author, and high-performance business coach, where each week I bring you an inspiring message from an extraordinary human being who will share their secrets on how you can tap into your personal power to become everything you were born to be. Thanks so much for spending some time with me.

In this episode, my friend and mentor, Chris Naugle, former professional snowboarder turned Wall Street investment guru, Founder of BYOB, Be Your Own Bank, Creator of the Money School, and CEO of the Private Money Club. He shares his life and the revolutionary relationship he has with money that catapulted him to the top of his profession as a financial coach, investment strategist, and mastermind, masterclass kingpin, giving us an inside glimpse into the six economic truths and money guiding principles he illuminated in his amazing TED Talk. Chris’s mission is to teach the world how to be your own bank and solve every money problem by putting you back in control of your money.

Chris Naugle is on the show. He has perfect hair. I’m sad he has on his ball cap because, as I challenge him, his hair has not moved since 1997. He is the epitome of sophisticated elegance and polished professionalism. He has a podcast. The more important is that he is a family man. He is a man of faith. He understands the significance of the transference of trust. He has figured out a legal way to bank what we know about money and how we honor, use, and invest money. I’m more than elated to have you on the show, Chris. We have heard all about his background in my introduction. Let’s got right to the chase.

Buffalo, New York native, tell us about how you grew up and when you first discovered that you had a neck for the use of money. The interesting thing about you and the way we met all those years ago at a real estate summit in Las Vegas where you are not only a practitioner who was someone doing that, investing your money and making a gazillion dollars in real estate.

You are also a teacher and a faculty member to share what you had figured out as a young man that puts you so far ahead of the curve that now a lot of folks are catching up to, including Grant Cardone. You went way before he did take us back to your past. I hope you know my compliments, love, and admiration for you are so sincere. Take it away, Chris.

Thanks, Dan. What an honor and a privilege. That was such a great intro. I didn’t grow up in a family with money. I grew up in a lower-lower-middle-class family. Dad was an alcoholic. My mom had to raise me. It was a huge struggle. Growing up without things forces you to do different things. Mine was that I became a dreamer. My mom was always my unconditional one but I remember watching how she saved it.

Growing up without things forces you to do things differently. Click To Tweet

When she needed something, she had to save up for it because she couldn’t go it. I watched her save her spare change in a little glass jar, and over time, I watched this glass jar build up. It was right in her closet. I remember looking at it. One day, it was down the bottom, a quarter way, and it was halfway. Every once in a while, my mother would call me in, and she would be like, “Chris, help me count this.”

A lot of people are reading this now, and maybe some of them have never even counted change but this was a common thing in my household. I would put it all on the floor, a big pile of change, nickels, pennies, and quarters and we would roll it for hours. When my mom saved up enough money, she would go and buy the things that she needed.

What was unique about seeing this is that I was fascinated by watching how the money in that jar grew over time. When I got a little older, my mom got me this little black box. It was a little slide-top black box. I still have the thing. I used it to save the money that I made for the things I wanted. I will never forget there was one particular time when I had been fixated on this KX 125 dirt bike. I was a kid that loved being outside. I was saving for this thing and dreaming about this thing. I’m drawing pictures of me riding this thing over and over.

One day, my mom took me out to this dirt bike place called Headless. I rode the dirt bikes. It was an RM and a KX. In the end, I thought, “We are going to get back in the car, go home, and keep saving and dreaming about this thing.” My mom looked at me and said, “Would you like to buy this?” That was a confusing proposition because I was thinking, “Yes.” She proceeded to tell me that I had saved up enough money in that little black box and that we could take this dirt bike home.

The first moment where I had that feeling of accomplishment and being proud that I did something of that magnitude but the lesson in that little story right there isn’t the dirt bike or the savings. The lesson is that my mother taught me the number one most important thing that we almost learn with money. That is, we have to pay ourselves first because that is not how we grow up.

I don’t care what family you grow up with. We are not taught to pay ourselves firsthand. We are taught to pay our bills, creditors, and debt first. Our needs always come last on the list because we always put our needs last on the list. It’s almost like saying, “We deserve only the leftovers.” That is a large part of why a lot of people don’t get where they want to be in life.

It is not so much a magnitude that we don’t have opportunities. Opportunities are everywhere. What we don’t have is the pathway to how money works. I spent many years as a financial advisor. I will tell you, I learned all the basics, the traditional financial stuff but I never learned what I like to call the truth about money. The things that I have learned now, contrary to what I learned when I was an advisor, are 180 degrees different.

All the wealthiest families that I have been surrounded by, multimillionaires and billionaires, the way they handle and use money is not the way that I learned how money worked when I was a financial advisor. Let me take a step back from being an advisor. One other interesting thing about my past is, in that upbringing, I never wanted to be a money guy or Wall Street guy, which I did for several years. What I wanted was to be a pro snowboarder. I live in Buffalo, New York. If any of you have ever been here, I have to question and ask, “Why?” Unless I invited you out and paid for your plane ticket like Dan.

The first time I was in Buffalo was in January. It was snowing sideways. I walked out of my hotel room. I took a deep breath, and my nostril stuck together. It is cold.

That is good for the sinuses. In Buffalo, one thing we do have is there is a lot of snow and some cold tents because we are surrounded by the Great Lakes but we don’t have mountains. We don’t have a whole lot of anything outside of Buffalo wings. Trying to be a pro snowboarder, everybody told me, “You can’t do it living here.” I had countless people say,” That is a great thing but you are going to have to move out West. You are going to move to Vermont or everywhere.”

The one thing I didn’t do was listen to them. When you got a dream, you got to go straightforward. You can’t listen to what other people say. Even as a young teenager, I don’t know how I got this, probably because of the way I was brought up. All I had were my dreams. I didn’t have the material things a lot of people did unless I worked hard for them. All I had were my dreams, and I always protected them with everything I had. Sometimes, I had to look up and ask God, “Is this the right path?” You are tested throughout it all. I was tested a lot in my early years.

I remember one day out at Kissing Bridge, a small little hill, about 600 vertical feet. You are from anywhere where there are mountains, and you know the parking lot going up to the hill. That is about what we had to ride us. I heard that these two pro riders, Blair and Shane, were going to be riding there filming. I made sure I put myself in the right place. I get up to the park, and sure enough, there they are. This was an iconic moment. I had never seen a pro rider outside the videos and the magazines, and here they are.

Right in front of me, I was nervous. I remember I was almost hiding like an animal in the woods peeking around the trees. I didn’t want to be seen because I didn’t want to bother them. They were taking hot laps, which were lapping as fast as they could through the park. I was behind them. Finally, I was going one time, I got off the lift, and there they were. Blair looked at me, ad he askedDo you want to ride with us?” I didn’t even know what to say but I ended up riding with them.

That was the first time that I thought I could do it because now somebody else had paved the way for me. Somebody else had done it. They moved out West but they grew up in Buffalo. In my mind, the doors are open. Now I believe it was possible, and I did. I ended up becoming a pro snowboarder. I don’t know if I have ever told this story to you but in the first contest, I wrote as a pro rider, and I will never forget it. I signed the contract with Option NFA, which was my first pro contract.

They invited me to this contest out in New Hampshire. It was a pro contest. I can’t remember the sponsors of it. I got there early. I was so pumped. It was a little raining down at the bottom and foggy. I get on the lift, and I’m riding the lift up, jamming out. I’m thinking about the day and how awesome this is. I came out of the fog and looked down to my left at a flat part of the hill, and there it was. The biggest stinking jump I had ever seen in my life.

This jump was so big. At first glance, I made myself believe that wasn’t the jump we were hitting but deep down, I did. I knew because the fencing was around it. I’m like, “There is no way I can hit that jump. There is no way I can clear that.” Everything turned from excitement to the deepest fear inside of us. I get to the top of the hill. I’m walking around the top. All I could think about was the fear, “What would happen? How am I going to hit this?”

I start thinking, “Maybe I won’t have to hit it. Something will happen. Another rider will go, and I can sneak off and ride back down. Nobody will even miss me. I’m the new guy here.” As pro riders, somebody has always got to hit the jump first. If any of you have ever had those furry little animals called guinea pigs, every contest has a guinea pig, and that guinea pig is the rider that gets the jump first. It usually comes from a game of roshambo. I don’t know what the chances of that happening but I lost the game.

I’m sitting right there at the jump. I’m looking down the hill at this giant monstrosity and trying to get myself ready for this. I’m thinking, “If I go too fast, I’m going to hit that jump, drift past the landing, and drop from 30 feet. I’m going to blow my knees out and break my back. If I check my speed and don’t go fast enough, I’m going to smash into the back of that jump the knuckle,” as we called it like a knuckle hitting you in the face. That would be your needs, hitting you in the face, broken jaw, whatever else, blown out knee.

These are the thoughts going through my head. I’m contemplating all this fear coming at me. I didn’t even see him as the starter. He says, “Chris, are you ready?” Thinking to myself, “No, I’m not ready.” He says, “Go. It will.” That is all he said. This is that moment where you are sitting there, and you got to reach inside deep. You got to decide what you are going to do.

This is my first pro snowboard contest. I could have backed down. I could have said, “No, my belly is hurting. Something is wrong.” Every excuse but I stared down at this thing, took a deep breath, and leaped. The next thing, you are in the air but once you take off that lift, everything changes because at that moment no longer scared because instinct kicked in.

Hundreds of times, I have hit other jumps and practiced this. That kicked in. I hit the landing and rode away smoothly. Now I was so freaking excited. Fear was gone. The only thing I can think about is, “Who is going to get me to the top of that hill again because I got this trick and that trick to do?” I say that because that single event can explain the rest of my life.

Everything I have always done has involved fear. In every business and venture I have ever done, fear is always there. Fear of failure and bankruptcy, which I have almost gone bankrupt. Fear of losing it all, death and loss. It’s going to be part of your life. Every one of those moments, you are going to be tested. I don’t care what you believe in and what your religious faith is. I always say, “This is my test from God, and you are going to have to decide to leap.” I always decided to leap. They haven’t always worked out. I have taken knees to the nose. My nose has been broken five times. It’s not exactly straight but it’s good enough.

That is how my life worked. I did that all through Wall Street. I became one of the top three advisors at the firm I was at. In 2008, I almost lost them. I went deep into buying a strip mall. I had a chain of skateboard and snowboard shops at this point. I wanted to buy this dilapidated paint store. I bought it using a hard money loan from some, I would say, bad people but they were the only ones crazy enough to give the loan, so I took it. After I started this project, it was 2008. If any of you are old enough to remember that little doozy of an episode we went through. That was called the Great Recession. That thing hit me like a Mack Truck at full speed ahead.

The one point, I had maxed up my 401(k). I have taken loans from all my life insurance policies. I had nothing. During the Great Recession, prior to that, you had an income. Now in the Great Recession, my Wall Street job, who is buying stock during the Great Recession? No one. My income went from here to way down here, barely enough to even feed ourselves.

I did some good things in my life and found Larissa. She had moved into my house. Dan knows my wife now, but back then, she was my girlfriend. She was a show-stopper. I come home to her. I had nowhere else to go. I don’t come from a family with money. She had a big girl job at the bank. I said, “Larissa, I need your help.”

She said, “What do you need?” I’m like, “I need you to help me pay the mortgage. Sweetie, I need you to help me pay the utilities. My friend Pete, you know Pete. He is going to move into that bedroom down the hall, and do you know Jessica? She is going to rent the bedroom upstairs.” As if the next thing I was going to say, Dan, is, “Any questions?” I don’t know where that came from but she liked me because we made it through. That moment right there is how I got through the Great Recession. It wasn’t easy.

The next phase of my life was another stepping stone where I jumped deep into real estate because, during the Great Recession, I learned some things. I learned everything I learned on Wall Street. It didn’t work, everything. Use bond portfolios to support it. Diversification, 60/40, efficient frontier, all these things they taught me, straight down the garbage. They are gone. None of them worked. Everything was down. Bond portfolios were down 30%.

What was working was real estate because I had some real estate clients, and those real estate clients were crushing it. I watched this firsthand. Everybody else is broke and worried. Every time they call me, I’m getting yelled at. The real estate guys had opportunities. They were making more money. I said, “I got to buy real estate.” I read a couple of books and read Warren Buffett’s book. I was a big Warren fan and still am. He said, “The secret to making money in investing is three things. Buy low and sell high. You do 1 and 2. You can’t lose money.”

That, to me, is like that fifth-grade level that we all can understand because that makes a lot of sense but up to that point, I did everything the opposite. I bought it high. When the Great Recession hit, I sold low and lost money. This is what a lot of people are doing now. Back then, the one thing I knew was low was real estate. I started buying apartment buildings. Pennies on the dollar. Leveraging everything I had. From 2009 to 2014, I got up to 36 units. In 2014, I got my 37th door, took it to the bank, same bank, and figured it out, “This is a piece of cake.” They said, “Mr. Naugle, you don’t fit in a little square box.” We call it the debt-income ratio.

I was buying all these properties in my personal name using personal mortgages. I’m not expecting everybody to understand it but there are commercial mortgages in a business name, and there are personal loans. The reason I did personal loans was simple. I thought I was smarter than I was. They were cheaper. The interest rate was less on the personal loan than it was on the commercial loans.

PPDC 56 Chris | Be Your Own Bank

Be Your Own Bank: You used personal loans because they were cheaper. The interest rate was less on the personal loan than it was on the commercial loan. But eventually, you will hit a barrier and lose everything.


I said, “How would I borrow in my LLC’s name when I can borrow here and save a percent? Look at how smart I am.” I went out there and used all these personal loans, thinking I was doing myself a big favor. I didn’t realize that you eventually hit the barrier, the wall. I hit that wall, and when they did, they froze my lines of credit. They called one of the mortgages because I got a little bit behind, and that was it.

All 36 units had to go. Larissa and I had gotten engaged. We had bought our dream house, 171 rent. I had to sell that. I spun myself in 2014 to one of the lowest points, which is when we met, Dan, it was one of the lowest points of our lives. The first in me split everything I had, including the bedroom set that I had to sell on Craigslist, was gone. If you see my stories, I come from a humble beginning but had a little success and gave it all back. I had some more success and lost it all. It was this roller coaster ride because I did everything that the traditional financial knowledge had taught me to do.

How can I keep losing it all? There are a lot of factors. I didn’t follow some simple things that we all should practice. Focus on helping others solve their problems before we worry about our problems. Everything in the Wall Street world was me, a bigger car and house. Some of these things are the reasons why I lost it. I also lost it because I had no idea how money worked.

The next chapter of my life is where the door opened. I had given it all the way after I had lost it all. The 2nd time was technically the 3rd but we will call it the 2nd. When that door opened, I was given up postcard which came in the mail. It wasn’t given anything. The postcard said, “Come to this real estate seminar to learn how to flip houses.” Everybody that is reading this was like, “Chris, if I read it correctly, did you lose it all in real estate?” “Right, you are, but on the back of that postcard, here is what it said, ‘Come to this real estate seminar, and we will give you a free iPod shuffle.’”

I had nothing to lose but I had an iPod shuffle to gain. Off I went, and at that seminar, I met Greg Herlean, and I met Mike. I met them there and remember hearing them talking about money. Only speakers at this real estate event talked about money. I was intently listening and what they said about money was the complete opposite of everything I had ever heard.

I remember at the end, Greg said, “The ultimate in real estate is being the bank.” I had no concept he was talking about. I was like, “The ultimate is I got to go get myself a bank. Get people to deposit money at the bank, get some dumb suckers, and put them in coffee cups. I got this.” That is what I was thinking. That is not what he meant at all. I didn’t know what I didn’t know.

The ultimate secret in real estate is being the bank. Click To Tweet

That’s the next discovery phase of my life. In 2014, straight through to this moment, I focused so much of my time studying, meeting, and putting myself in places where multimillionaires and billionaires are asking them the same single question, “How did you build your wealth? What did you do?” It was weird to me because every one of them, one way or the other, did the exact same thing. I reverse-engineered this, and I said, “This is what I have been doing wrong. This is how I need to change things.” That is what I do now, Dan. I had many things happen. It depends on thousands of people.

BYOB, Be Your Own Banker. Was that the first title before you got into the Money Club and into everything else that you are doing that we are going to talk about? Is that when you started? Is that when you coined the phrase, Be Your Own Banker, BYOB?

After 2014, we started using the slogan Be Your Own Bank. We started teaching what I teach now, and I started doing it with Brent Kessler in the early days because that is who taught me and who I was doing it with. It kept going from there. Money School and Private Money Club were born. All the companies that we do now were all spawned off of that one simple phrase, BYOB. Some people are like, “What does that mean? Bring Your Own Beer.” I’m like, “Do you got some?” It means to Be Your Own Banker or Bring Your Own Babe. Whatever you want it to be, I teach how to Be Your Own Bank.

In doing that, it is very simple. People are like, “That sounds complicated.” It involves changing one thing. That is the one thing that always surprises me. It’s like, “Who can’t change one thing in their life?” I say that loosely because a lot of people can’t because they don’t want change or want to keep believing that they know more than they know like I used to. That is all it takes, one change, and you can change everything in your future.

All it takes is one change and you can change everything in your future. Click To Tweet

I can’t ask this question unless I interrupt and do not wait until the end. How can people join your tribe? How could they subscribe to your coaching? How could they hire you? How can they join your Money School to learn your proprietary system and amazing philosophy? I hope you will give us a snippet or a snapshot. As we continue on, I want to interrupt. Give us the contact information so that people can immediately pause reading and learn about money, making money, investing money, paying themselves first, and other extraordinary philosophies that you have created.

One of my mentors a long time ago said the best thing you could have ever said, “Give your best step away free.” You are not going to pay me to coach you and get around the campfire. What you do need to do is learn. The best way to learn is to go to my website, which is ChrisNaugle.com. When you go to the website, a couple of seconds later, a pop-up is going to come up, and it is going to say, “Watch this 90-minute video.” I know what you are going to say, “I don’t have 90 minutes.” That’s okay. Click on it.

When you do have 90 minutes, take the time and watch that because back in 2014, a wise man taught me almost everything I know. He said the same thing, “You got to watch the 90-minute video, and I can talk to you.” I’m posing the same thing to you. Watch the 90-minute video. When you are done with that video, you will have the ability to schedule a call with me or my team. We will answer all your questions.

The best part is nowhere in this process will you have to buy anything because I promise you one thing to watch the video, one thing you will see is that this will solve your money problem. I have learned that if I can help you solve your money problem, you never have to. I don’t have to sell you anything. You are going to buy what we are doing and to buy what we are doing is a concept.

When you think of buying a product, you are not buying a product. You are buying a concept and process. That process involves changing one thing. That is where you are saving, and money goes first. That is how you do it. I got free stuff everywhere. YouTube, Instagram, Facebook, TikTok, you name it. I got hundreds, if not thousands, of videos up to go to @TheChrisNaugle on any social channel. You can learn and get everything free.

Give us that snapshot tease or teach us a little teen bit about your three most focused enterprises. BYOB, The Money School, and I love the Private Money Club badly. That whole idea is extraordinary. It’s exciting, and it’s a top drawer. It’s almost like, “Do I qualify? How can I get involved? What do I need to do to prepare myself so you will invite me into the Private Money Club?” Out of those three things, I want everybody to know what you are up to.

All of you have been taught your whole life to trade your hours for dollars. We call it working. In doing that, you make money. You take that money and give up control because that’s what you have been taught to do. You put it in somebody else’s bank, and I will tell you, the bank doesn’t put your money in the vault anymore. Never did. The bank makes your money go to work for them. In doing so, they make a spread. They pay you one if you are lucky. They lend that money out at five if you are lucky. They make a 4% spread on every $1 you give up control to that bank.

What I teach by being your own bank is the money you will save, not the money you pay your regular bills but the money you would save for something. Maybe you are saving for an investment, car or dirt bike. Let’s talk about the money you saved. What if all we did is instead of putting it in your bank, we changed one thing, and that is where our money goes first? I’m going to take it, and I’m going to put my money on the left side. If you are reading, I’m showing this with a little stack of money here. The money is over here on this left side. What is this left side? The left side is your bank.

Let me give you some of the highlight reels of what your bank looks like. This is where a lot of people think it sounds too good to be true. Your bank pays you a guaranteed interest rate that, by 2022 numbers is between 3% and 6%. That are your guaranteed numbers. That money as it sits there will grow in compound tax-free whatever money you put in there, whatever interest and dividends it earns, it grows tax-free. If you need that money, you have access to that money, maybe not 100% of it in the 1st or 2nd year but you have access to that money. You can then take the money out of your bank.

If you were going to be your own bank and own your own bank, the first thing you would always do if you owned a bank is you would make deposits in your bank. You wouldn’t go down the street to Bank of America. You would make deposits in your bank. If you need a loan for a car loan, you will go to your bank and will take a loan from your bank to buy the car. You would do the same thing but if you take that loan, let’s pretend you did it from your bank. That loan, technically never needs to be paid back.

PPDC 56 Chris | Be Your Own Bank

Be Your Own Bank: If you’re going to own your own bank, you’re going to have to make deposits in your bank. If you need a loan, take a loan from your bank, and technically that loan never needs to be paid back.


Would it be pretty cool if your bank said, “Here is a loan but you never need to pay it back?” Your bank is going to charge you interest on that loan but your bank is going to pay you more in interest and dividends than what they are going to charge you to use your money and take loans from it. Isn’t that what a regular bank does? They make a spread.

If they are paying you interest in dividends, that interest in dividends is more than what they are going to charge you to use your own money because you are making a spread on every dollar. When you took the loan, what if I told you your money never even left your account? Let’s put some numbers to this. You put $10,000 in your bank because it’s guaranteed that you get dividends tax-free. You like all those things. You take $8,000 out because you are going to buy something that’s $8,000. Let’s say you are going to buy a used car that you want.

You take $8,000 out. You took a loan from your bank. Your bank paid you 5%. To borrow money from your bank, they charge you 4%. You made a 1% spread there. It’s more than that in real life but I’m keeping things simple. When you started with $10,000 and took $8,000 out, how much is left in your bank? Most of your readers are thinking $2,000, and they are going. “$10,000 minus $8,000, that’s $2,000 left.” That is because that’s how a regular bank works.

What if I told you the $10,000 you put in your bank never even left your bank? You still got $10,000 in there. The next question you would ask is, “Where did the $8,000 come from?” The $8,000 came from the general account of the machine, the vehicle, and the institution that holds your bank’s money. Let me explain that again. What we are going to do is think of a circle. You change one thing. Your money goes into the left side of that circle. We are going to call that your bank.

Let me tell you what your bank is. Guaranteed, pays dividends, tax-free, allows you to take money out, and earn uninterrupted compound interest, protected against judgment and liens. If you ever graduate and go on to heaven, that bank will pay you a death benefit. What is that place? That place is specially designed and engineered for all life insurance policies. Nothing like the whole life insurance policy that you have bought in the past. This is specially designed and engineered to work the way I described.

Only a few major carriers have taken the time to create that you have access to that you can teach us where to find and how to access them.

The same insurance companies that do business with the banks do what they call BOLI. Banks are the number one purchasers of whole life insurance in the world. You can look it up, go to FDIC.gov, and you will see that the top five banks in this country hold more than $75 billion in whole life insurance. They call it BOLI, Bank-Owned Life Insurance.

It’s not the same whole life as what you know. When you took that whole life out, the insurance company promised you two things contractually, “We are going to guarantee you an interest rate on your money.” The second thing they have promised and guaranteed you are, “Someday, when you die, we are going to pay death benefits to your family.”

What you witnessed, when we put the $10,000 in, and we took the $8,000 out, the thing I didn’t tell you is that loan you took from your bank, the whole life policy, what that was is the insurance company giving you $8,000 of your death benefit while you live. They advanced your death benefit, which is why I said, “The loan never needs to be paid back.” The insurance company doesn’t care if you ever pay it back.

The insurance company knows because they have actuaries that someday you are going to die, and they know, the day you die, they got to pay your family or whoever your beneficiary is a death benefit. Therefore on that day, if you took $8,000 out and you never paid them back, they are going to subtract $8,000 from your debt benefit. If it’s done, everybody is happy.

You learn how to make money twice on the same dollars because if your money never left, your money is earning uninterrupted compound interest. If you don’t know what compound interest is, look up Albert Einstein, they will tell you all about it. It said, “It is the eighth wonder of the world. Those that understand it earn it. Those that don’t pay it.” The problem is that in society nowadays, we have only been taught to pay for it.

They haven’t been taught to earn it. You learn how to earn it uninterrupted. You got the ability to use that money to go out and buy something, and I said a car. If you took a loan from your bank, you should always treat your bank’s money the same way you would treat Wells Fargo, Bank of America’s bank’s money. If you took a car loan from someone else’s bank, you would pay them back a monthly payment, wouldn’t you? I know you would. That monthly payment would be principal and interest.

You took a loan from your bank, which was in advance of your death benefit for $8,000. Now let’s complete the bottom part of the service because now all we have done is the top part. You put money in, a loan, which was the insurance company advancing your death benefit, and bought the car. An $8,000 car, maybe a 5% interest, $100 a month. You take every month, up a bill to pay for $100 a month and pay that $100 a month back to your bank. Every single month, your bank gets $100 extra to repay that loan you took from the death benefit.

The best part is if you did this with somebody else’s bank, the worst part was somebody else’s bank is that $100 is gone from your household forever. When you have your own bank, that $100 a month that you make payments back to your bank for that money is available the next day when it checks clear. You don’t lose control of any of your money. This system, being your own bank, allows you to be in full control of your money. It allows you to control and access your money immediately in the first 30 days. I said, “It is maybe not be 100% in the first several years but you have access to your money.

PPDC 56 Chris | Be Your Own Bank

Be Your Own Bank: If you take a loan to buy a car and set up a bill payment of $100 a month back to your bank, your bank will get $100 a month to repay that loan you took from the death benefit. You’ll have full control of that $100.


Usually, between 60% and 90% of that money immediately. It’s because we found this circle that we could create, we found a way to always keep the money in our family. While we keep the money in our family, we make a spread on every single transaction we do. If they are paying you 5% and you are paying them 4%, the insurance company I’m referring to, you are making a spread of 1%, but the best part is if you understand mathematics and compound interest. The next year, your spread is not 1% anymore because your $10,000 earned interest, and $10,000 is now $10,500 earning 5% under that example. Your interest is now earning interest. Therefore, your spread gets bigger every year, and you don’t have to work harder. l work hard and take on zero risk.

Let’s dissect the whole life policy. Traditional whole-life policies are, “Here is my monthly premium.” Eventually, it will accrue a cash value wherein I can borrow the money out of the cash value. What you are saying is front load the cash value put in $10,000 on day one, $50,000 or $100,000. One of our mutual friends who bought one of your policies and front-loaded it to $1 million on day one. He automatically has access to $800,000 to $250,000 within the first 10 or 20 days is something ridiculous.

Ladies and gentlemen, my followers, you got to look into Chris Naugle and his money-making machine, his understanding, Be Your Own Banker, and you will look at the mirror of being your own babe. Let’s transfer over to the Money School. How do we enroll in that, and what can we expect from the Money School?

Money School is probably the single greatest thing I’ve ever created, and I created it out of a need for myself to solve my problem. Money School is like a dating site. Maybe you’ve used Tinder or eHarmony. It’s cool. You got two profiles, a guy and a gal. Each one says, “Here is what I’m looking for. These are the things I like. This is what I believe in, and here are my photos.” You meet in the middle. You chat and go on a date. If things go well, you make babies and all that good stuff. That is how dating sites work.

What I came to realize is that as I ask some money through real estate and other things I was doing, I wanted my money to go k for me because I got sick of trading hours for dollars because I felt my hours were priceless. I started to learn what the wealth they knew and that was, “I’m not going to trade my hours for dollars anymore. I’m going to make my money go to work for me so that my money is making money for me.”

I started to try to figure this banking thing out and where I always fell short is, “How do I make my money work for me all the time? I want to lend as a bank does. I want to lend on real estate because real estate is a tangible asset that I can secure my assets and money with but I could never find all those deals.” What I did was I said, “I have used dating sites before. I’m going to create a dating site for money where there are only two types of people in this community.”

There are people with money that all have a goal and want to make more money. On the other side of this community, there are going to be people that need money to make money. What a novel idea. People with money need people that need money. Each 1 of those 2 people is there to solve the other person’s problem, and they do it on a site like a dating site. This is called Private Money Club.

PPDC 56 Chris | Be Your Own Bank

Be Your Own Bank: People with money need people that need money. Each one of those two people is there to solve the other person’s problem. And you can do that in Private Money Club.


It is the only and the first dating site for money, and we don’t get in the middle of any of your deals. It’s a dating site. You guys get together, build a relationship, and go off and have babies but these babies aren’t the ones you are thinking of. These babies are interest, dividends, and profits. You take those interest dividends and profits. You turn them right around. You make them work for you, and life is good.

The one thing I have created that solves a big problem because I have realized that this thing has the ability to completely change the way money works forever. If Bezos can start an online bookstore and do what he did now, and if Steve Jobs can come up with the vision, he is going to change the world, and then so can Chris Naugle.

I am outset to change the way money works forever with this dating site for money, that’s it. It’s easy. Go to PrivateMoneyClub.com, and you can watch this whole thing unfold. October 14th, 2022, we launched in the US. We never once advertised. It has always been a private community. We are launching into the US on October 14th, 2022, right in your backyard, Dan. It is in Sundance Resort.

I shall be in attendance and one of your inspirational speakers to encourage people to pull the trigger to a once-in-a-lifetime opportunity to get involved with the geniuses like you. Let’s pretty shift as we wind have time together. You are such a devoted family man. Your beautiful young daughter Vivy has inspired you to continuously pursue this concept of being a teacher to the world and share everything you have learned with everyone within the sound of your voice, beginning with the tear-jerker letter to Vivy that morphed into your TED Talk.

If you would, for a second, itemize those 5 or 6 concepts that you want to pass on to your daughter so that she doesn’t have to suffer the same perils that all of us have faced because of our misuse of money based on our ignorance on how money works and what money is used for as a currency of relationships and profits. In the concept of writing a letter to Vivy, in case you are not going to be around anymore. That brings tears to all of our eyes.

Take us through those elements and give us a glimpse inside the notable managed man that is always exactly the same as the profitable financier business guru. You are always the same outside the office as you are inside the office. The list wind down our time. They are on more of an emotional, intimate note of why you are passionate about sharing your wisdom with others because of all people in the world. You owe it to your daughter and your family to teach what you know as we all need to interrupt the money cycle that we have been plagued with our whole lives as you challenge us to do so in your TED Talk.

My daughter was born in May of 2020 during COVID. She’s a COVID baby. For many of the other parents reading this, when you have a child, you are perspective on almost everything changes. Everything you do becomes a step toward your legacy. What would you leave behind? How will everything that we do while we are living with a child benefit them when they need it most? I got thinking about this, and many years ago, I read a book that I hope all of you have read called The Richest Man In Babylon. It’s a difficult book to articulate because it is written in a weird tongue. It was written before Jesus Christ. He talks about the Laws of Gold.

PPDC 56 Chris | Be Your Own Bank

The Richest Man In Babylon

It’s because I have been in the money for a good part of my life, several years. When I read the book, it struck me differently than maybe other people. What I articulated out of that was the law, not the lessons, not the speculations, not the thoughts and ideas of somebody like many books have. The true law is like the law of gravity. If you go to the top of your building and jump, you are going to find out what the law of gravity means. You can’t bend, change or modify it. You are going to hit the ground.

I learned that there are laws when it comes to wealth, and these laws have been around since probably the beginning of time but we will go back to that book. It’s because I understood them in a different way than most, I started to rewrite these laws in a way that we could understand and apply in this world in 2022. I didn’t do it for everybody else. I don’t mean to sound selfish there. I did it because I felt my daughter needed a better lesson when it came to money. She deserved more than I was given.

How we get our knowledge about money through the generational transfer of knowledge from one generation to the next but in that transfer, a lot of important stuff is lost. You guys have all done the game telephone. What I started to do is I started to write a letter to my daughter. I wanted this letter to be something that later she could understand, not just understand but also use when she gets older, and she needs it most. This letter outlines, in simple lessons and stories, these 6 Laws of Wealth. Let me give them to you quickly.

Money knowledge is passed through a generational transfer of knowledge. But in that transfer, a lot of important things get lost. Click To Tweet

The first law is what I explained earlier about my mom. My mom taught me the number one lesson. It’s the first law of wealth. Pay yourself first, and you should never pay yourself less than 1/10th of the money you earn, 10%. In there, I teach my daughter how for every $10 that she earns, she is to pay herself $1 before she pays anybody else. Before society tells her to pay her creditors or debtors in her bills, she must pay herself $1. If she can master that first law of paying herself first, then she can move on to the second law.

You should never pay yourself less than 1/10th of the money you earn. Click To Tweet

The second law is simple. I don’t want my daughter to go through life the way I did, where I had to trade hours for dollars because your hours are precious. I wanted her to understand that life isn’t about working 9:00 to 5:00 for a paycheck to pay your bills. If you master the first law, you now save money, and that money must work for you. The second law of wealth is that every dollar you save needs to work for you instead of you working for it. When your money works for you, your money and goal change because now it’s not about hours being traded, it’s about your money bringing money for yourself.

It brings me to the 3rd law and 3rd thing I teach my daughter, which is single-handedly a misused law nowadays. It’s a broken law. This law is simple. Protect your wealth. In there, I explained to Vivy how she needs to protect her money because she should only invest in things that she knows, likes, and understand. I teach her to only ask herself one question when an investment is posed to her or when she is looking at something, does she know enough about that investment? If not, she got to find something else that she knows more about or has to find somebody that has the knowledge through time, wisdom, and failure to help her through that.

I go on to the next lesson, the fourth lesson, which is to never be greedy in life. I teach her to be realistic and never get greedy. I do that with a story. The Kennedy’s, back late summer of 1929, shoe shine board story. I explain how she can go through life without being blindsided by temptation and FOMO, the Fear of Missing Out, and how to take the rose-colored glasses off and see things for what they are. In doing that, she will learn to be realistic, slow down, and take advantage of logic. To make decisions based on logic, not emotions.

The fifth lesson as we wind down the laws of wealth in my letter to Vivy in this TEDx Talk is, in life, we need to focus on something more important, more than money and wealth. The important thing is people. This fifth lesson is, for her, to give generously without conditions and solve other people’s problems as her primary function in life.

Instead of following and solving her, she has taught through lessons and let that lesson. I started talking about my mom. My mom gave me my start. For the first business I ever opened, I needed $70,000. My mom didn’t have that but my mom watched my dream of dying. What she did is she put our family house up for collaterals so that I could get that bank loan. She put everything on the line for her son. I largely attribute that to why I give so much. That generous act changed my life. I have the ability to change my daughter’s, which has the ability to change many generations.

Many times in our free enterprise system and our woke society, those of us who are working hard and do not trade time for money but knowing that there’s no such thing as a financial crisis. That is why you are such a genius. You have come up with this revolutionary, Be Your Own Bank, the Money School, and the dating site for money for investors.

What we need to remember is that there is no reason under the sun for any of us that they make excuses to make money. You need to work harder and make as much money as possible. We are always cautioned. Money is the root of all evil, and that’s incorrect. It is the love of money. That is the root of all evil. I wanted to interrupt here because of the biblical example. Regardless of your religious tradition, we must remind ourselves that it was the same money and coinage that the good samaritan used to better his community and help that stranger on the road. Judas Iscariot is used to betraying Christ. It’s the same coinage and money.

When we can understand the love of what we can do with money is a righteous driving force. We can become philanthropists. We can put ourselves in the position of Chris Naugle and your inner circle of close friends, which I take pride in being a part of, where we look for ways to serve, help and benefit our fellow men and women. That is one of the noblest things.

You are teaching, Vivy. You are creating on a daily basis as part of your legacy of love and leadership that you are leaving behind. I wanted to make sure everybody understands that collective mindset with our friends, the Randy Kurtz and Troy Hoffmans of the world, the geniuses that work hard on making as much money as we possibly can so we can serve others at the highest level, is worth interrupting. Go to point number six. You are teaching it to the world.

Folks, you should all need to understand these are laws. Every one of these has been used and talked about. This isn’t the first time you are hearing them but it might be the first time you start to apply them. The other thing I teach, which is the sixth and final law in my daughter, is that what she’s going to learn through this letter and lesson is that she’s going to learn how money works and learn to use money differently than her other friends and her other peers.

That is going to be difficult because the way she uses money is not going to make sense to other people. What I’m going to teach her in this final lesson is to share what she knows. Even if people judge her, shame her, even if people don’t want anything. Some people will never make the shift ever. I teach her that the number one thing she can do is lead by example. Give and share what she does. If she does that, she accomplishes what I’m trying to accomplish.

Lead by example. Give and share what you do even if people will shame you. Click To Tweet

No matter how much all of us think you are immortal, none of us are. In my life, I have not done everything right. I know that I’m going to do this part. I love my daughter with everything I have. My daughter, if she practices these lessons and laws, she is going to be wealthy in many ways. She is not going to be wealthy but she is going to be able to accomplish things that I never dreamed of doing because she is going to have something that I never had, and that is time.

When I often think about my life, I sometimes think, “What would happen if I could go back to my younger self and tell my younger self one thing?” if I could, it would be to rethink money. When I think about that, I think about what my life would look like. Now that I got a daughter and many of you have children, I want to post this question to you. I don’t think about going back in time anymore. I never ever give it any thought because my ultimate legacy in life will be my biggest opportunity. My biggest opportunity in life is my daughter, Vivy.

I can’t give anything greater than that. If I can teach her these things, how many people can she teach? If she can learn these at a younger age than I can, she has a much longer time horizon to go out there and change the way people do things. She might be able to do better than me in changing the world because it starts with 1 person at a time, 1 lesson at a time, and 1 generous gift at a time.

Power Players, Chris Naugle, is teaching us how to ignite the personal power within each of us and validating that we can do what he has done. We can do what he is doing. Answering the three questions that we talk about in every of my speaker bootcamps, everyone in my storytelling master classes answers, “Why should I follow Chris Naugle? Has he done it? Is he doing it?” It’s credibility. “Can I do what Chris has done? Can I do what Chris’s doing?” It is the possibility piece with my past, weaknesses, limitations, and strengths.

Most importantly, the third question that all these creating answers. It is an inverted speaker’s triangle, which is a visual that it’s fun. You answer question number one, credibility. “Why should I listen to Chris?” Answer question number two with possibility. “Can I do it too?” You are just creating answers to, how do I do it? How do I take myself from where I am to where I need to be? Is it worth it to me? What is the system?

Chris Naugle has BYOB, Be Your Own Bank, Be Your Own Banker. He has Chris Naugles, the Money School, and the Private Money Club. Chris, one last time. How do we find you? How do we join your tribe? How do we engage in this opportunity to watch a 90-minute video, engage in a personal conversation call with your team, and take advantage of this amazing school of profit?

Go to ChrisNaugle.com to watch the 90-minute video. If you like watching other videos, go to any social channel, especially YouTube @TheChrisNaugle. If you like the idea of dating sites for money, you go to PrivateMoneyClub.com.

Chris, last question. If you have one hour to live, what is your message to the world? You have already expressed it in an emotional and passionate way. What do you want your daughter to know about money? Let’s put a different hat on. Take off the BYOB hat Metaphorically and say, “Friend, neighbor, businessman, and man of integrity, commitment to service for self and excellence, and all you do seeking the finest things in life, rubbing the Maserati or whatever you want. What is your last lecture message? One hour to live. What do you want the world to know that matters most to you in a philosophical life lesson?

I’m going to recite something from someone that changed my life. “The biggest problem is not what we don’t know. The biggest problem is what we think we know that isn’t so.” Be careful who you get your knowledge from.

Thanks, Chris. You know I love, admire and honor you as a friend and colleague. More importantly, as the class human being that you are, everybody always leaves you saying, “I like you best when I’m with you.” I want to see you again. I can’t wait to wait to connect. I can’t wait for your launch of the Private Money Club. I cannot wait to watch and rewatch your amazing TED Talk. God bless you, your amazing wife, and your amazing daughter. Thanks for jumping on here. You made my day and my week. You made a lot of people a lot of money.

It is my honor and privilege. Thank you.

Thanks so much for jumping on. Do you think we covered everything you wanted to cover?

More than everything. Your questions wouldn’t and went to half those places.

What is the date of your TED Talk?

October 7th,2022.

How long did they take before they posted? Is it immediate?

Within a week to two weeks, it goes up on all those channels. We have been rehearsing hard.

Thanks for your introduction to Alex Lumbard. He says that Facebook and Instagram. They put a moratorium on verification on the blue checks. Nobody is getting him. He offered his services for Instagram. I’m going to reach out and analyze what we can do together. Thank you so much for that. You are a great friend. God bless.

God bless you, Dan.

Thanks. Have a good day.


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About Chris Naugle

PPDC 56 Chris | Be Your Own BankChris Naugle is the founder and CEO of The Money School and Private Money Club. His mission is to teach you to Be Your Own Bank by solving your money problem, and putting you back in control of your money.


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