Have you ever heard of the term “Velocity of Money”? The Velocity of money is the money in movement.
Let’s talk about money, investments, and wealth together with Jay Conner and his special guest John Dwyer.
John Dwyer is an eight-time recipient of Ohio National’s Inner Circle (top 1% of U.S. financial representatives).
A five-time qualifier, and a four-time recipient of the Executive Counsel of Honor, and was elected by his peers to serve as a current member of the Ohio National Field Advisory Board.
John also qualified for the 2017 GAMA Silver International Management Award.
Currently serves on the Field Advisory Board of Ohio National.
Was elected “40 Under 40” Prairie Business Magazine in 2015, and is a Master Mentor of both Circle of Wealth and The Breakaway League.
As the President and CEO of Solid Rock Financial Group, John leads the organization with incredible passion and vision.
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Jay Conner:
You also talk about the importance of the velocity of money. What does that mean? And what's the consequences to an investor?
John Dwyer:
So if we think about, what traditional planning tells us to do, right? They'll tell us to put money in IRA's, 401k's, SAP plans, mutual funds. And you're supposed to leave that money in the accounts for how long?
Jay Conner:
Until you die.
John Dwyer:
Until you die, right? Because, When is a good time to take the money out? Well, the market's taken off, don't take it out now. Or the market just corrected. You want to buy back in, you know? So when is a good time to have liquidity is in control of your money, right? But when we talk about velocity of money, let's look at what the institutions do, because in my mind, the institutions know how to create well. And so when Jay, when you and I parked our money, our capital into a bank, right? What does the bank do with those dollars?
Jay Conner:
They loan it out.
John Dwyer:
They loan it out. So the bank doesn't take that money and they don't park it in their CD's, IRA's, or 403B's or 401k that they tell us to put our money into. Right? They actually take our money. They'll loan it. So if I take the money to the bank, I deposit my capital. You're a business owner that needs to buy a piece of equipment. You happen to bank at the same bank. I do. You're going to go to the bank and borrow their money, or actually my money. Right? And then in turn, you're going to turn around and you're going to purchase some equipment from the manufacturer who happens to bank at the same bank. Right? And so that deposit is going to come back into the bank. Well, how many uses that I get with my dollar? When I put the money into the bank.
Jay Conner:
One.
John Dwyer:
I got one, how many did the bank get?
Jay Conner:
Multiple.
John Dwyer:
Multiple, right? But see the loss. So this is the economic principle. Velocity of money is the money and movement. And if you understand collateral, and if you understand liquidity use to control of your money. Having access to capital is what allows you to create those opportunities, to where you can keep your money in movement, but you never want to interrupt the compounding curve. You will never want to lose that forward momentum of your money to go do other things, just like the banks do. See we're a pawn in their game. They have the rules. We just, we don't look at the playbook. We don't look to understand what the play code is and do what they do. We do the exact opposite. And what really boggles my mind. If, you know, I started to get passionate about this. It's like the banks do the exact opposite of what they tell us to do with our money. Yet, they're the ones making all the money. Why aren't we doing what they do? And it goes into exactly what you're coaching and teaching with your students.
Jay Conner:
Yeah. It's like, you don't have to look very far downtown. Who is it that owns the biggest buildings in the downtown cities, right? So, it's the banks.
John Dwyer:
It's the banks.
Jay Conner:
Perhaps we, as individuals should consider being the bank, which is sort of another conversation.
John Dwyer:
Yeah. And it's just, you're right. It's another conversation. But the whole point is, is that we, so the last 12 years is I've just helping people understand that's a paradigm shift, right? Because we've been ingrained in and taught to do certain things with our money, but it's the definition of insanity, Jay. It's doing the same thing over and over and over again, trying to get a different result. And if you look around, are people able to retire at the same standard of living that they had during their working career? No. So it's broken. I mean, it's broken. And if we help people understand how wealth works, right? That's, what's going to help them get to the next level of overall planning.
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