Latest / The Life-First Solopreneur / 86. An Unconventional Wealth Building Secret Solopreneurs Must Learn with Rob Scranton
Transcript
- Dr. Rob Scranton (00:00): These products have been around for over 200 years. This is not a new concept or something that we have to wonder, oh, well, how is this going to work out? Or how is this going to turn out? We can look back three, four, or five generations and see exactly how it's going to play out. I mean, these products are virtually unchanged from what they were 150, 200 years ago. Intro (00:23): Welcome to the One-Person Business podcast, the show for solopreneurs, consultants and contractors who are ready to take charge of their business and reclaim their freedom. Join us as we bring you inspiring stories, invaluable insights and practical strategies from successful solopreneurs and industry experts, empowering you to create a thriving business that aligns with your unique goals and allows you to live life on your own terms. Here are your hosts, Joe Rando and Carly Ries. Carly Ries (00:53): Welcome to the One-Person Business Podcast. I'm one of your hosts, Carly Ries. Joe Rando (00:57): And I'm Joe Rando. Carly Ries (00:58): Joe, you and I at this point have talked to countless solopreneurs, and at the end of the day, the vast majority of them just want a business that better suits their lifestyle. But, achieving that lifestyle can be very stressful when you're always worried about money and making ends meet. Unfortunately, that's a reality that a lot of solopreneurs face. Today on the show, we have Dr. Rob Scranton. He teaches people how to grow their wealth outside of the traditional approaches like scrimping, saving and denying themselves the lifestyle they really want, which I think resonates with a lot of people in our audience. I'm very intrigued because he has a different approach that we're going to discuss and we're going to talk about the basics and really break everything down for you. It's just a really unique aspect that I don't think a lot of listeners are aware of. That being said, Rob, welcome to the show. We're so happy to have you. Dr. Rob Scranton (01:52): Well, thank you, Carly. Thank you, Joe. Yeah, that's one of the things we often talk about on podcasts, kind of an enticing idea when we talk about how to use the debts and expenses that you already have to grow your wealth. Joe Rando (02:09): I'm liking in this because I'm a finance geek, so I love this stuff. We're going to get real geeky of this one, I hope. Dr. Rob Scranton (02:18): My first degree was in accounting and finance from said University of Illinois in Champaign Urbana. Carly Ries (02:25): Well, there's the carrot that we're going to dangle in front of everybody, so keep listening. But when I say we want to go back to the basics, I really want to go back to the basics. I want to tee up what you're going to say in this unique take, and I don't think a lot of solopreneurs have a very good understanding of how conventional banks actually work. I think they need to know that background to fully understand what you are going to get into today. Can you give that information to listeners so we have a good baseline of where we're going to go? Dr. Rob Scranton (02:58): Yeah, a lot of people don't realize, banks, unless they go back and think of if they've ever watched that movie around Christmas time, it's coming up, it'll be on TV a whole bunch of times, It's A Wonderful Life. It kind of gives, in the movie, an example of some of the issues and problems around traditional banks. A lot of people don't realize that when you go make your $10,000 deposit at your bank or Wells Fargo or credited loan or savings & loan, what have you. I think in It's A Wonderful Life. it was called a building and loan. You make that $10,000 deposit and the federal government allows that bank then leverage that at a nine to one ratio. So with your $10,000 securing their ability to then make nine, $10,000 loans to other people. (03:53): And so that makes 'em extremely highly leveraged. People have no idea. There's hardly anybody around that even remembers what happened during the Great Depression when banks were so highly leveraged about that. We've got a really interesting family story from my great grandfather around that and what we're going to talk about as well. If there was ever a run on the bank, they tell people that there's this FDIC insurance, and it's really just a line that they put on banking stuff to give people more assurity and confidence that when they put their money in the bank, that it'll be there when they go back to get it. The reality is their money's not actually there. But, if people have confidence that it's going to be there, everything runs smoothly and everything's okay. But if there was ever a panic or a run in the bank, literally, the first guy to get there in the morning would get his $10,000, but the next eight people behind him wouldn't get anything because the money's not actually there. (04:58): Just like in that movie, It's A Wonderful Life, and George Bailey's trying to get people to say, well, what do you need to get you through tomorrow? Could you do with $10? Or how about a hundred instead of taking it all out because Mr. Smith, your money's in Joe's house, and Joe, your money's over in Mrs. Hatfield's house, and he's kind of explaining all this. So we end up at a situation where even today, I wonder how many people even remember that the first quarter of 2023, four of the 10 largest banks in the United States went out of business. That's frightening to me. Joe Biden, good old Joe bailed almost everybody out of that. Roku, I think had $40 million in Silver Gate Bank, and the federal government bailed 'em all out by, according to the rules, the FDIC, they should have only given them $250,000. Joe Biden and our government will take care of these big, big companies, but when it came to everyday folks like you and me, and there was a big problem like that, I'm not sure that they're going to take care of all of us. In fact, if there was a big problem, the federal government could not ever even print enough money to make everybody whole through the FDI and C insurance program to cover everybody for what would disappear. Like I said, if we've got time, I'll share that story from the Great Depression about my great grandfather and how they were impacted with that. Carly Ries (06:40): We will definitely keep that in the back of our minds. Basically what youre saying is, contrary to popular belief, it's kind of risky to put all of your money with a bank, but a lot of people don't know that there's another way to go about it. I know that you're a big advocate for the infinite banking concept. What is that? What is this other way that people can approach their money for their business? Dr. Rob Scranton (07:05): It's kind of creating a banking system that you own and that you control and that you don't have to fill out a whole bunch of paperwork for when you go to make a loan or ask anybody's permission or tell anybody what the purpose is and what you plan to use it for. You can just request it and have it in two days, anytime you want. Today, if you go to most banks and you try to take out more than $10,000 of your own money, always remember that your own money, you have to fill out a bunch of forms and paperwork and explain why and what your purpose and what your intention is. Why you're taking it out and what you plan to use it for. Joe Rando (07:42): Is that because of the Patriot Act? Dr. Rob Scranton (07:46): Yeah. That's when that first came into being. I am not a conspiracy theorist, but it does make you wonder a little bit, if that whole Patriot Act, they went a lot further with it to gain a lot more insight and control over our lives than was necessary. I don't know how many terrorists they've caught by having people fill out that paperwork. Joe Rando (08:12): They don't mind having information about financial transactions. It helps with things like collecting taxes and all kinds of fun stuff like that. So yeah, I am with you. It's kind of like they never saw information that we didn't want to collect. And that's true for all stores somewhere. Dr. Rob Scranton (08:29): That's another one of our favorite aspects about creating your own banking system, is that you are able to get a significant amount of the cash in your life into a tax-free environment and get people's prying eyes off of what you're doing and your personal finances because it's not flowing through traditional banking systems when you're using it, accessing it, or doing your banking transactions with your banking system. Joe Rando (09:03): Okay. Is this legal? Carly Ries (09:05): I know. I'm like, what is the catch? Dr. Rob Scranton (09:07): Almost sounds too good to be true. And we barely even started talking about it. Joe Rando (09:12): As long as it doesn't involve Sam Bankman-Fried, I'm listening. Dr. Rob Scranton (09:18): I can't speak to it. I know that Joe Biden's got over $2 million in cash values in his personal banking system. At the same time, that's reassuring that I don't think the politicians are going to want to get rid of this at any time because almost everybody in Capitol Hill is doing this. They don't necessarily want you and I to know about it that much, but they all do it and use it themselves. Carly Ries (09:47): So how do you do it? We know the concept now about how do people actually get into it. Dr. Rob Scranton (09:52): I hope your audience doesn't get up and run out of the room or turn off their podcast when they hear me say this, but we use a very specially designed whole life insurance policy with a mutual company that pays dividends that we're able to design in a very specific way to front load with a whole bunch of extra cash, so we can participate in the company and their guaranteed interest payments and their dividends because with the mutual company, we're also owners of the company, and that grows and accumulates tax-free and compounds. The real magic thing about it is that we then can use that, we talk about for our banking system, to make loans. We have a lot of real estate entrepreneurs that use this to use their own bank to do flips and make hard money loans. (10:45): A real magic thing about it is when they borrow the money from this policy, this bank of theirs, and they use it and invest somewhere else, they never stop the cash accumulation and growth and compounding inside the policy because legally that's considered part of the death benefit of your policy. You're not actually taking money out of the policy or your bank, you're actually taking a loan against the general fund of the insurance company using your life insurance policy as collateral. So you never stop the compounding to the growth ever, even while you're using that same dollar somewhere else. You're able to earn a rate in two places at the same time. I'm just not aware of any other financial instrument or tool that exists out there that has those kind of features and benefits. If you guys know of something, please let me know because I've been looking for 14 or 15 years and I haven't found it so far. Joe Rando (11:42): I have questions. I really want to dig in here a little bit. So you've got this money. You basically put a bunch of cash into a special kind of life insurance policy and then can borrow from the company using the money that you have in there that's earning interest as collateral against this loan that you're taking out. How do the interest rates compare? What's the net interest rate typically? What's the spread between I have my money in here, it's making 3%. I'm borrowing money. It's at 5%, so I'm netting paying 2% for my loan. Walk me through those numbers, roughly. Dr. Rob Scranton (12:20): We have an illustration on my website. At some point we'll talk about that. I have a free training that shows people how you can literally borrow at 6%, which is the highest interest rate that the insurance company will ever charge you to use your own and earn at approximately three and a quarter, three and a half percent, and make money all day long and come out ahead. We use an illustration of buying a car and using your own banking system versus going to traditional bank and show you how you can make money all day long by earning inside your policy at three and a half, three and a quarter percent and borrowing at 6% and make money all day long. (13:06): The real secret to that is because with that loan, we never stop the compounding of growth inside the policy, and when we borrow the money out, we're paying it down every month. So we're paying the interest on a decreasing balance, and we're are seeing the interest growth on an increasing balance over the years. Every time I show that illustration, I used to use little cleaner numbers. We earn it 4% and we pay interest at 6%. And everybody looks at like, well, how can that be? You're losing 2%. But then we go through the illustration they see, "oh yeah, because you're putting that money to work elsewhere." Joe Rando (13:48): Carly, I've got an MBA. Is this making sense to you? Carly Ries (13:58): It is. Yes, I love the conversation going back and forth between you guys. I'm one of those people that has to consume that information. You know that bead that goes around with all the numbers flying around in front of the person? I feel like that's me right now. I definitely have to digest this a little more before I can ask any educated questions. But you might get some follow ups from me. Joe Rando (14:20): The bottom line is, what Rob is saying is that if you borrow money at 6%, but at the same time that money that you borrowed so to speak, or it's collateral is earning it at let's say three and a half percent, the net cost of the money that you took out is 2.5%. You're paying 6%, you're getting three and a half so the difference between those two numbers is two and a half percent. That's pretty cheap money. Now, if I can take the 2.5% money and invest it in my business and make 10%, where am I? I'm way ahead. Carly Ries (15:00): Yeah, absolutely. That makes perfect sense. But I have a question for you on that. Do people have to have a certain income for this to work for them, or do they have to already have money? Where's the starting gate for applying this? Dr. Rob Scranton (15:14): I always tell people, "start wherever you're at so you can get to where you want". Don't let, "oh, I don't know if I have enough to start this" stop you. My first policy was 14 or 15 years ago, my first bank, if you will. I started with what I had. My income was significantly lower than what it is now, but as my income grew and I was looking for more places to stuff cash into, get into a tax-free environment and get the government out of my hair and stop them peering into anything I was doing, I realized that wasn't enough. So I started another policy and then eventually another policy, and then I got one on my wife and I got one on each of my kids. I think that'll be one of the greatest gifts I ever give them. Teaching them how my wife and I have used this in our lives for every financial move we've ever made in the last 14 or 15 years and teach them how to use their own policies. My 18-year-old is a senior this year and he doesn't know it. I want him to keep working hard and save more for college, but when he goes to college next fall, there's already enough cash value built up inside of his policy that'll have enough to pay for his entire college tuition. He won't have to take loans or work at getting grants or that kind of stuff. He'll just pay himself. Carly Ries (16:50): Okay. Well, I kind of have a long question, and I hate to go here, but God forbid something were to happen to the person that is taking out these loans and everything, where does everything go? What happens? Dr. Rob Scranton (17:03): Yeah, that's maybe a two-prong question. I'll just try to use clean numbers again. Say between the death benefit and the cash value that had been building up inside this policy, to your point, Carly. So there's a million dollars in total death benefit between the basic death benefit and the cash value built up inside there. And you or Joe or me decide to take a $200,000 loan because we found a property we're making a down payment on. We feel like we're going to be able to flip that in a month or two and make a nice profit on it, and then just take what we had borrowed from the policy and put it right back into the policy to replenish that. But, we do something silly and we die before that policy can get paid back to that loan. The only thing that would happen is that when that person died, their heirs or the beneficiary, instead of getting a million, they would get a million minus to 200,000 that had taken out loans. They would get a net amount of $800,000. It doesn't evaporate or disappear or go away or anything like that. Joe Rando (18:08): I'm really intrigued with this, but this is the one that really is giving me agita. You talked about for of the 10 largest banks failing last year. What happens if the insurance company fails? Dr. Rob Scranton (18:31): That could happen. It's pretty unlikely because the federal guidelines and regulations and requirements for insurance companies are significantly stricter than they are for banks because they're required to have on hand liquid assets to pay every death benefit that they have promised to people at the same time if everybody died on the same day. So that's some pretty significant resources and assets. It's sort of interesting when you talk about insurance companies versus banks. Where do banks find security and where do they have confidence in? When I first heard about this infinite banking concept, I had my accounting and finance degree and background. (19:15): I worked in public accounting, preparing tax returns, doing audits of companies. I was a financial analyst for the Florsheim Shoe Company downtown Chicago. I was like, this can't be true with all my experience and education, how come I've never heard of this? I started doing research in a way to kind of poke holes in it and tear it apart from the inside out and prove that it wasn't true. But the more I did that, what I actually found was it was absolutely completely true. Everything they were saying was accurate. Then that almost made me even more upset because I'm like, if I don't know this stuff with my education and my fancy college and working in this field, why do I not know this? Or who's trying to hide this from me? And if I don't know this, I'm guessing most Americans don't know anything about this either. (20:10): I went and asked my financial planner about it, and boy, you should have seen his physiology change. He turned red and he got almost angry. He was just waiting for me to stop talking so that he could jump in and attack. I thought, wow, that was so weird. I was just asking questions around something I found interesting and fascinating, and he's the finance guy. So I went and asked my mentor that first taught me about this infinite banking. He says, I know who your advisor's company is owned by. Solomon Smith Barney is owned by Citibank. I want you to go to this website, and you guys can write this down too. It's called BOLI. It stands for bank owned life insurance. You can look up any bank in the country, Wells Fargo, Bank of America, your little local bank in your town, and find out exactly how much whole life insurance your bank owns. (21:03): So I did that with Citibank, and I looked it up and found out that 35% of the holdings of the entire company were tied up in whole life insurance contracts to the tune of tens of billions and billions of dollars, more than their real estate, more than their stocks and bonds combined. I thought, well, their agent that they've trained is telling me that this is such a bad idea and it's so horrible to me, but yet they're doing it to the tune of 35% of all their assets. Why aren't they investing in banks if banks are so great? Why are they investing in life insurance companies? I started thinking to myself, is Citibank that stupid or do they just know something that I don't know. Carly Ries (21:49): I feel like my brain is spinning right now. Like I said, I am one of those who takes it all in and then processes. I feel like tonight I'm going to be going to bed...What just happened? What was he talking about? So question, Where does credit play into all of this? Dr. Rob Scranton (22:05): So credit, that's the nice thing too. You can make all these moves and like I said, kind of getting the government out of your hair and keep prying eyes out of what you're doing. Anything you do inside your own banking system is completely under your control. Whether you loan money out to people, you can determine what rate you pay, how fast you pay it back, what the terms are. If you bought a car using your banking system, you would charge yourself twice as much interest as the bank would. You can charge yourself half as much interest. You could pay yourself back faster, slower, or take a break for five months and then start back up making your payments on your truck. If you did that with GMAC financing and didn't make your payment for five months, what's going to happen to your truck? Repo Man! It's not going to be in your driveway anymore. That's for sure. I'm not sure if I completely answered your question there, Carly, so you're free to restate it if I didn't. Carly Ries (23:06): No, we just hadn't talked about it at all so I didn't know how it impacted score. Dr. Rob Scranton (23:10): Yeah, no impact doesn't affect it in any way whatsoever because it's not going to be reported anywhere to any credit bureau when you're using your own money for whatever purposes you want. Joe Rando (23:22): That's the thing, Carly, the life insurance company has all that money, so when you borrow it out, they aren't at any risk. If you don't pay it back, it's just going to take it from your stuff. It's not like a situation where you go to the bank and you borrow against to buy a house or something, and it's like, they've got to go and take your house. They have to hope that the house is still worth what they thought it was worth, that you didn't trash the place or the market didn't crash. There's a lot more risk. It's very painful for banks. They call it Oreo, other old real estate owned. It's something that you don't like to see in a bank's balance sheet if you're investing because they don't do well owning real estate unless it's a bank branch. Dr. Rob Scranton (24:06): Like you said, Joe, with your own banking system, it's your own money and the insurance company's not worried about it because if you die, they'll just pull the proceeds out of that or they'll deliver less to your heirs or your beneficiary if you have loans out against it. They've always got that insurance policy. There is collateral. Carly Ries (24:30): Wow, this is fascinating. Okay, I want to hear a real life application and example at this point. I feel like it's a good time to talk about your grandparents' story. Dr. Rob Scranton (24:39): Okay. When I first started learning about this, like I said, my accounting and finance degree was right in that 2008, 2009 realm. I'd been doing what everybody else was doing, putting my money into a 401k and IRA, making sure I got the company match and meeting with my financial advisor. And that's what my parents did. That's what their friends did. That's what everybody at work was doing. I didn't know any different so I followed that and my certified financial planner managed to lose 45% of everything I'd worked for over the last 10 or 12 years, like a lot of other people. I just made up my mind I was not going to be part of that system anymore and look for something else. I started looking at this and I just didn't believe it at first. I was telling my dad about it. (25:40): I told you about when I got kind of shot down by my financial planner and my dad started telling the story. He's like, oh, well, I have a whole life insurance policy on you that we got when you were born. My dad put a whole life insurance policy on me when I was born, and that was all because your great-great grandfather, during the Great Depression, your aunt and uncle owned the bank in town and the bank went out of business, collapsed. Your great-grandfather, that was his brother, and your great-grandfather was a farmer in that community and he would always borrow the money from the bank to buy his seed to plant the crop so he could harvest the crop and then pay back the bank, the loan for the seed. But there's no bank anymore. He didn't know bankers in other towns. That was a time when people really didn't travel much outside their county so he didn't have relationships other places. He went to the seed company, he did know the seed company guy. He was like, "Hey, listen man, everybody's going bankrupt. The banks are going bankrupt. I can't give you money or can't give feed on credit." My great-grandfather was like, "well, what am I going to do? If I don't plant the crop, as a farmer, I'm not going to have anything to harvest, and I'm not going to have any money, I'm going to lose the farm. I'm going to lose the house." But he did remember that when he was a young boy, his father had put a whole life insurance policy on his life and he had totally forgotten about it. But when you're in that kind of a desperate situation, your mind works a little harder to find solutions. (27:21): He's like, "I should just go check and see if that's still there, if that's still in place." So he contacted the insurance company, whatever they had to do back then by Telegraph, I don't know how he would've contacted them, but "yeah, you still have this policy. Oh, it's got X amount. It's got this cash inside that policy." He remembered his dad telling him about that. That was one of the ways people used to save, because back before the Great Depression era and before, people were afraid to store their money at banks. They didn't trust them and the Great Depression proved why. So this is a way a lot of people saved, buying whole life insurance contracts. And he was able to borrow the cash, go to the seed company, buy the seed, plant his crop, harvest the crop, and then that was the first example my dad was telling me about basically using his own banking system and sold the crop. He then paid the money back to his own whole life insurance policy or his own banking system essentially. He was able to save the family farm and save the family house and didn't end up broke and destitute and living under a bridge during the depression. Carly Ries (28:34): The moral of the story, this is, not a new concept. This is a tried and true. Dr. Rob Scranton (28:41): It's definitely not a Johnny come lately. I mean, all the insurance companies you guys were asking earlier about, well, how sure we are, how confident can we be in these life insurance companies? All the ones that we use, there's a smaller number that are mutual insurance companies and even smaller number that really work favorably with people wanting to use this infinite banking concept. But all the companies we use have been around for 120 to 145 years, and they've all paid dividends every single year for over 120 years. So they've been very financially healthy and stable. You don't do that unless you're making a profit. You don't pay dividends out. And that's through the Great Depression, two World Wars, every economic recession and downturn that we've ever had since then. Carly Ries (29:30): I was just glancing over looking at the questions I had prepared today, and I was like, "Carly, you had no idea what you were talking about when preparing," I think "I want to ask him this question." and looking at them right now, I'm like, "oh, come on, Carly." (29:51): Well, thank you. I don't know if I'm going to ask some of them because I think we've covered a lot of them, but it was just so funny. I was looking at them and I was like, I had no idea what I was getting into with this conversation today. Joe, you may have since you're more well versed than I am Joe Rando (30:07): I learned a lot today. This is stuff that I really find interesting but I learned a lot today. Dr. Rob Scranton (30:17): Yeah, that's okay. If it's the first time hearing this stuff, I was the same way. The first time I heard about it, even with an accounting and finance background, I'm like, what? Wait a minute. Rewind. Say that again. Did I hear you correctly? The more I looked into it, I'm like, yeah, these products have been around for over 200 years. This is not a new concept or something that we have to wonder, oh, well, how is this going to work out? Or how is this going to turn out? We can look back three, four or five generations and see exactly how it's going to play out. These products are virtually unchanged from what they were 150, 200 years ago. Carly Ries (31:12): What's going to happen, Joe, is people are going to listen to this episode and be like, there's no way I heard that correctly. And then they're going to re-listen, and our downloads and our views are going to go up because of you, Rob. (31:38): This is going to be a very eye-opening episode for people. I am very humbled by this episode. Your goal is to help people find success with this, we have to ask you, what is your favorite quote about success? Dr. Rob Scranton (31:52): My favorite quote about success is just like I said, this felt like it was hidden from my eyes as it is for most people, I think, the first time they hear about it. It kind of made me angry. With my degree and education and work experience, why had I never heard about this? But, my favorite quote on this subject is from Warren Buffett, and he said that "if poor people would just do what rich people do, they wouldn't be poor anymore." And that's all we're trying to do, just copy and mimic and imitate what all the largest banks and the rich people are doing and we should have similar results. Maybe with smaller numbers to start in the beginning, but something where we can work toward at least anyways. Carly Ries (32:38): Well Rob, if the listeners are like me and are trying to process all of this, they're probably thining, "this sounds interesting. I need some handholding." Where can people find out more about you if they want to contact you? Dr. Rob Scranton (32:51): We've got a free masterclass that I'll offer to any of your listeners where they can go. Just go into our portal on our website at yourfinancialiq.org. I go into this in a lot of depth with some illustrations and some spreadsheets for people who really like the detailed numbers. It is really interesting to see everything we're talking about when we're using real actual numbers to see that everything we're talking about is true. If you like math, you can prove those kinds of things with actual math. So we've got that free masterclass on there. Carly Ries (33:37): That is not where I am, but Joe is, like you said, spreadsheets. Wait, what did you just say? Dr. Rob Scranton (33:42): I hear you. We tell a lot of fun, interesting stories, but going into a lot of the other aspects that we just haven't touched. There are so many unique characteristics and aspects and benefits of using this type of banking system in your financial life that there's no way we have time to go through all of it on today's podcast. So that's a place where they can learn a lot more and a lot more in depth there. Carly Ries (34:06): Well, we will include all of that in this show notes. Joe, do you have any follow-up questions? My brain will probably come up with more at 2:00 AM Joe Rando (34:15): I'm good. I get it. Makes total sense to me. I have lots of good questions that maybe I'll ask you offline, Rob, but I don't want to do too much geeking on people. Carly Ries (34:28): Well, Rob, thank you so much for coming on the show. This is a very educational, enlightening conversation, and we really appreciate you taking the time today. Dr. Rob Scranton (34:36): Well, thank you guys for having me on your show, and hopefully I didn't get too excited or seem angry. If I did, I'm just passionately excited when I get to talk about this subject and tell people about something that at one time I never knew. It's just been a fascinating journey using this for the last 14 or 15 years. Carly Ries (34:57): So interesting. Well, thank you so much again, and listeners, thank you for tuning in. We will see you next week on another episode of the One-Person Business. Take care. Closing (35:09): You may be going solo in business, but that doesn't mean you're alone. In fact, millions of people are in your shoes running a one person business and figuring it out as they go. So why not connect with them and learn from each other's successes and failures? At LifeStarr, we're creating a one person business community where you can go to meet and get advice from other solopreneurs. Be sure to join in on the conversations at community.lifestarr.com