Anna Felix puts on the ‘Advice WINGS’ today with suggestions of how women can grow their wealth. Co-founder of NexVision Investments, Anna talks financial literacy, cash flow living and how to “be your own bank” to keep wealth in the family like the Rockefellers did.
Melinda Wittstock: Welcome to Wings, Anna.
Anna Felix: Thank you so much. Glad to be here.
Melinda Wittstock: I'm glad to have you and I always love to ask what's inspiring you right now.
Anna Felix: I'm just so inspired to see women achieving so much in business, so many more businesses are owned by women. Women are so successful in business and it's really exciting to see that and I'm really excited to be able to help them make sure that they are planning for an abundant future.
Melinda Wittstock: That's right, so financial literacy, abundance, wealth strategy: What are some of the strategies and services that you provide?
Anna Felix: So many things, just from a basic level of, am I covered if I were to have an accident? Do I have life insurance, especially for women entrepreneurs, they are their business so, what would I do tomorrow if I couldn't work in my business, and so making sure they're protected in that direction also planning for retirement, so there's a variety of ways to do that. We have some strategies that allow us to help you build tax free retirement, which when something is tax free, that's always an awesome option. We're able to do that and do it in a way that also gives you access to your money in the fact that you are kind of like your own bank. We provide something called a private reserve account and again using [inaudible 00:01:40 of a life insurance policy, but structured in a different way.
We're able to make it so that instead of, let's say you want to add on to your business or you need to grow business wise, instead of trying to go to the bank and getting a loan and going through all those things, you're able to tap in to the cash flow that's attached to your policy and get that money, pay yourself that, pay yourself back with interest and be your own bank and not be subject to all those things and so that's a really fun thing. The other thing is the ability to own land within your retirement plan. Something that is pretty not too common in this industry, but people really like tangible investments. Investments that they can see, have pictures of, can be passed on to generations and so some different and inspiring thing.
Melinda Wittstock: I love the ‘be your own bank’. That's kind of what the Rockefeller's did to keep wealth in their family.
Anna Felix: Yes, yes and it's actually, it's interesting that you mentioned that. It's actually a strategy. It's been around a long time, but it just wasn't as widely known and there's been some companies out there that have been wanting to create that and so we're fortunate to be able to have access to setting this up and it's a pretty specialized way to set it up, but it gives you some phenomenal things for growing your money.
Melinda Wittstock: Well, if you're an entrepreneur, it's not like you have a 401(k).
Anna Felix: Exactly.
Melinda Wittstock: You're really in this cash flow living and then why wait to enjoy your life at retirement anyway?
Longevity is an amazing thing, but you definitely want to make sure that we’re able to continue to enjoy life well into the 70s and 80s. #RetireRich #Wealth @MelindaWingsClick to tweet
Anna Felix: Exactly, yeah, you just said it exactly. You're taking the words right out of my mouth when I'm doing my financial literacy classes. I do, I talk with a lot of women that they're doing really well now and that's fantastic and that's definitely the first step, but how do I make sure that going forward, my life continues abundant and we're living longer. Longevity is an amazing thing, but you definitely want to make sure that we're able to continue to enjoy life well into the 70s and 80s without worrying about the finances.
Melinda Wittstock: Absolutely, so all entrepreneurs have challenges. What are some of your challenges right now?
Anna Felix: Well, of course always growing your business, reaching those that I can help, but just in general, the perception that there are concepts that women, at least in the financial world that we're incapable of understanding certain things and applying things in our career and so I'm really trying to tear down that wall of yes, we can do this, yes, we can understand it, it's not difficult. It's just people along the way have told you that, oh, yeah, you don't understand this or it's probably not something that you're interested in. Most definitely I'm interested in planning for my future and maybe I don't know all the special words that financial planners traditionally throw out to sound important or like they know what they're doing, but I can certainly understand the concepts if you explain them to me in a way that it's easy to understand, that the laymen understand. Those are the challenges, but I'm having a lot of fun tearing down those walls and empowering women one at a time.
If you’re helping others reach their goals, then you are more than going to exceed what your goals are. #FinancialLiteracy #beyourownbank Click to tweet
Melinda Wittstock: That's great. Okay, so now we're going to get into how to soar like a super hero with your three pieces of advice and so what is number one?
Anna Felix: Number one is never be limited by what others say are possible.
Melinda Wittstock: Beautiful. Never be limited, exactly. Limitless life. Number two?
Anna Felix: Always focusing on serving others and you will definitely be successful. If you're helping others reach their goals, then you are more than going to exceed what your goals are.
Melinda Wittstock: Isn't it so funny how the money always values, follows value creation.
Anna Felix: Yes, as always.
Melinda Wittstock: It's so obvious to say it. It sounds so simple, but it's true, if you create value for other people, yeah, that money follows.
Anna Felix: It does.
Melinda Wittstock: What is number three?
Anna Felix: Number three is just making sure every day that you're enjoying life. A lot of times, I talk to people that are just, they're busy, they're working now and they're looking to the future, and if I keep doing this, in 10 years, I'm going to be able to enjoy life and do those things. That's probably true, but every day is a gift and so make sure that you're enjoying today, to whatever degree that is, even if you don't have a lot of time, take an hour and enjoy some time with friends, a nice dinner. Just always make sure that you're enjoying every day not just looking to the future.
Melinda Wittstock: Wonderful. All right, so how can all our listeners find you? What's your website? How can people find you on social media?
Anna Felix: My website is nexvisioninvestments with an s, dot-com. There, it showcases a lot of the things that we do. You can find me on Facebook also at nexvisioninvestments.com, and I also have a page on Facebook called Visionary Women in Finance and there we post a lot of our literacy classes. Of course, we're located in Stockton, California so for those that are in that area, then definitely they can reach out and find out about classes that we do, at least once a month and sometimes twice.
Melinda Wittstock: Wonderful, and everyone, if you missed any of that, it's in the show notes and you'll be able to find all those URLs. Anna, thank you so much.
Anna Felix: Thank you. It was a great privilege to be here, appreciate it.