Financial Advisors React to the WILDEST Money-Making Schemes

Wildest Ways to Make Money (0:00)

Brian: We all like making money. So, why not react to the wildest money-making schemes? This guy found a genius way to make money.

Bo: Brian, I am so excited about this because when I hear scheme, I know that the internet is about to deliver. Let’s find out. That’s where the good stuff is, schemes.

8-Figure 12-Year-Old Day Trader (0:19)

Video Clip: Welcome to my realistic day in the life as an 8-figure 12-year-old day trader. Every day, I usually wake up around 2 a.m. Today, I decided to sleep in a little. First thing I do after waking up is make some coffee and go for a run. Feeling a little tired today, so I just did a light jog, and then we’re headed straight to the gym. Gary Vee motivational speech on, quick back workout, some deadlifts, hoop sesh, shower, and we’re headed to the office. At this point, it’s 6:00 a.m. Pacific time. The market opens in 30 minutes. So, I begin by checking up on my clan and collecting some gold and elixir. 6:30 a.m. I see a big dipper formation on the AMD stock. So, I go in with some. While waiting for that position to hit my target, I go ahead and cook up some breakfast in the kitchen. Come back to a $4,000 loss on that AMD position and then quickly go into a few more trades here to make all that money back. But we hit another $7,000 loss on NEO stock. So, a total loss of about $11,000 for the day. I’d say that’s a little better than usual for me.

Bo: There’s so much pressure, especially for young people, that there is one only right way to be productive and efficient and effective. And I just don’t think that that’s true. That’s not been my experience.

Brian: Let me go ahead and cut through all the noise and give you the investing cheat code. That’s right. Here it is. Lean in. Come on in. Instead of trying to beat the market, be the market. Buy those index funds. There you go. I just summarized it, made it easy. That’s the scheme that’s going to work.

Collecting Water Bottles at a Cycling Race (1:41)

Video Clip: This guy found a genius way to make money. He set up a cardboard sign near a cycling track that just said “bottles.” Pro cyclists often dropped their water bottles during races to save weight and go faster. And sure enough, some riders started tossing their bottles right where his sign was. In the end, he collected a bunch of bottles, made about $5, and helped keep the road cleaner at the same time.

Bo: Here’s the thing. This was good for everybody. It cut down on litter. It was a way for the cyclists to improve their ride and he made a little bit of money on it. Look, there wasn’t a huge impact to this. I don’t say this is a scheme. I think this works. I think this was okay.

Brian: So, look, I’m out of the game on this stuff, but there was a season where my wife was running these half marathons. And I did find it amazing that a lot of people just like disrobe while they’re in the middle of running or cycling or whatever because they started the race and then they get hot and then they’re ticked off that they’ve only run three miles when they got 10 more to go. So I think there’s probably a whole business out there where people pick up Lululemon or all the other fancy clothes that are just distributed on half marathons or marathon runs.

Bo: So you saw this clip and you’re like, you know, he had a sign that said “bottles.” I’m trying to help him and it’s going to say “clothes” on it.

Brian: This is not the way you make the money. This was— I’m telling you, there’s a better way to do money.

Bo: Come run the Money Guy marathon. Clothes optional, right? That’s what I’m hearing. That’s what I’m hearing.

Brian: They don’t get naked, but they get hot.

Infinite Banking with Life Insurance (3:10)

Video Clip: Most people look at insurance as death benefits and they get money. I got to be able to pass away. The wealthy look at insurance policies as something that grows in assets. He’s talking about they don’t use the bank. They become their own bank. By selling an insurance policy on themselves which grows in interest that they can borrow from. If I have $500,000 inside that insurance policy, I can borrow from me tax-free. So whatever I spend, it’s completely tax-free. You can live off $5 million inside of an insurance policy. Step one, get $5 million at six to 10% interest because it spits out every single year. This person is going out and giving their money to the dealership, paying them off every single month, and going to give their money to the banks by paying their mortgage. The wealthy borrow that money from their insurance policy and purchase the house and they pay themselves back off with it. They go to the dealership, they purchase the car in full with the insurance policy tax-free.

Brian: You know, it’s not cost-free expensive whole life insurance.

Bo: That’s right. There are glimmers of truth in what he was saying. There are, you know, you can build up cash value inside a life insurance policy. You can borrow against that cash value. It’s a tax-free event so long as the policy does not go into lapse. The problem is if you want to spend money, you want to use your resources. Why on earth should you have to borrow it from yourself? Because now you’re playing this game where you got to make sure the policy stays in force and one of two things happens. Either you have to pay back that money at some point or it becomes this giant tactical event, or you got to die.

Brian: This infinite banking thing that you see—the reason you see so much coverage on it is because selling life insurance is extremely profitable. Yes, it’s true that the uber wealthy do use life insurance for some arbitrage opportunities, but that’s the wealthy. They also fly in private jets. I don’t see you trading in your Southwest tickets to go buy an airplane. First step, step one, go buy a jet. That’s essentially what these guys do when they say, “Hey, all you have to do is build up $5 million.” Nobody’s giving you the $5 million. You still have to fund these things. You still have to pay all the cost of insurance. There’s a better way. And this is fitting quite nicely into our scheme stick.

Tractor Supply Stock Tank Hot Tub Business (5:40)

Video Clip: Okay, this is genius. And behind every genius product idea is a genius business idea. Here’s how I would use this above-ground pool to make a million-dollar business and how you can do it, too. I would go to Tractor Supply and buy a $400 stock tank like this one. Then I would go to Amazon and buy a $200 above-ground pool jet and nozzle kit. I would get them to my house. I would build this using YouTube and ChatGPT. I would take professional pictures of it and post pictures and videos of it in all of the mom Facebook groups and on Facebook Marketplace. I guarantee you, you can build these for under four hours and $1,000 in materials and sell them for $5,000.

Bo: So, it’s hot tubs. He’s building hot tubs. Was it a pool or was it a hot tub? I don’t think there’s a heating element. There’s only a filter element. So, it was just a miniature above-ground pool basically.

Brian: This is going to have a designated market, by the way. I don’t see— maybe here in Nashville it would do well, but I just don’t see this. I don’t see you going to Manhattan and going to the Tractor Supply store and setting this up. You’re going to end up spending $8,000. No, mark that. $12,000 worth of supplies. So, you might sell two and one of them is going to be your mama or your grandmama buying your above-ground thousand dollar nobody-wanted swimming pool.

Bo: I don’t see grandma getting in that pool. I don’t think that’s grandma-safe pool.

Brian: And by the way, here’s the business— you sell it to them for $5,000 and then you say, “Hey, in 4 months when this thing’s a cesspool and covered up with all kind of grime and dirt and everything else, I’ll haul it away for $400.” Look at that. Get them both ways.

Bo: Get them both ways.

Pretending to Be Mr. Beast for $1 (7:20)

Video Clip: Unethical ways to make money, part 12. You’re going to go to Walmart and you’re going to have your friend follow you recording on his iPhone. Then you’re going to go up to strangers. You’re going to say, “Do you know who Mr. Beast is?” Then you’re going to ask for $1 to cover some of your groceries. They’re going to think they’re in a Mr. Beast TikTok video. They’re going to give you $1 and expect for you to give them $10,000 in return. But you’re going to take that dollar and you’re going to walk out of the store. Repeat that 20 times at the Walmart and that’s 20 bucks an hour. Work smarter, not harder.

Brian: And then they get beat down in the parking lot.

Bo: I’m playing this out.

Brian: By the way, you have to have this guy’s hair and you have to make sure you show up with this tank top.

Bo: The tank top.

Brian: People truthfully might be thinking that if they don’t give you the dollar, they’re going to get beat down.

Bo: What about the people where it’s like, “Do you know Mr. Beast?” “Yes, I do.” “Can I have a dollar for groceries?” “No, you can’t.” I don’t think I would just randomly hand somebody a dollar. I don’t think this would work. I really thought through it. I don’t think this would work.

Credit Card 0% Interest Arbitrage (8:19)

Video Clip: So, there’s a credit card hack where you go to chase.com, you request travel cards. So, you get the Marriott, the Ritz Carlton card from Chase and then you get the United card. They’re all Chase cards and those give you a high limit. So, they’ll give you like a $20,000-$25,000 limit because they’re travel cards and they expect you to spend a lot of money. So, you’ll get like $80,000-$90,000. And then what you do is you call Chase and you tell them, “Hey, I want to combine these cards into one and I want to transfer the credit limits into one card.” But you apply for a Chase Freedom card. That’s 0% interest for 15 months. And then you move all your credit limits from the travel cards to your Chase Freedom card. Now you have an $80,000-$90,000 credit card at 0%. So I did that for me. I did that for my wife. And I did that for my dad and I created like $300,000 of credit limits at 0%.

Bo: So, but then what?

Brian: Right. But okay, so it’s not free money. I mean, I guess they think 0%. But what do you do?

Bo: Like you rack up this $300,000 of debt, you got to pay it back. I guess maybe he’s thinking there’s some sort of like arbitrage.

Brian: This is not the way you make money. Go get out there and get as much credit limit with the banks. Yeah, they’ll give it to you. You can go get money from the mob, too. They’ll give it to you. And then at some point you got to pay the money back. Bo, how many clients of our firm have come to us? We work with millionaires all across the country, 49 states. I don’t think any of them have come from playing this 0% interest rate game.

Bo: Zero of our clients have 0%-interested their way to wealth.

Five-Step Business Formula (9:50)

Video Clip: The simplest path to making money. One, find a service people already buy. Two, do it in half the time, make it twice as easy, or remove all the risk. Three, ask everyone you know if they know anybody who wants it. Four, charge more than everyone else. And then five, don’t stop when you get bored.

Bo: Two and four is where I have the issues, right? So I need to do it in half as much time or remove all the risk. I’m assuming that no one else has figured out how to do it as efficiently as possible or to remove all the risk. I have some sort of insight that no one else has had that no one else has figured out. That’s a really, really difficult thing to do. It sounds great on paper, but in practice that might be hard. And then once you do it, you’re going to come in and price above everyone else. Well, now I got to be really, really good at sales because I can go buy this thing for $10 and I’m selling my thing for $20. Can this work? Absolutely. Is it as easy as just a little five-step process? If it was that easy, everybody would do it.

Flipping a Storage Unit (10:41)

Video Clip: I’m finally doing the side hustle that you guys keep asking me to try, flipping a storage unit. I paid about $900 for this unit and another $100 to rent a U-Haul. Let’s see if we made any money. At first, I really wasn’t finding much besides like household items. Then, I came across this locked metal box, which I brought home. More on that in a bit. There was an old raggedy end table, a bunch of DVDs, a carpet steam cleaner. This silver tray was really heavy. These can be worth decent money. This old elephant phone was cool. Similar ones are selling for around 100 bucks on eBay. Anyway, had to get this furniture out quick because I only had the U-Haul for one day, but behind this dressing table— and inside the dresser drawers were a lot of broken electronics and some brown sugar. One of the big reasons I bid on this unit was because there was a safe in the pictures. So, I grabbed that. I actually found another one, too. There were some pretty nice tools in here. And then I scored a Nintendo DS Lite with a bunch of games. There was a car stereo, an RC car frame, and then way in the back was a brand new unopened 50-inch TV. This was everything to keep and sell. One of the locked cases just had paperwork in it. Another was a poker chip set. The total value is around $1,800.

Bo: How much time did it take? He said it was a day, but I bet this was like a full day, right? So, I’m thinking this is like an 8-10 hour day to go through this. If you’re going to make this replicable, you got to do it over and over and over again. Well, sometimes you might have a storage unit that’s going to profit. What about the ones where it doesn’t have that stuff? What about the ones where you actually take a loss or just break even? If this is something you’re passionate about and you just have like a skill set for it, great. Do it. But I don’t know if this is the way that you’re going to necessarily make a living.

Brian: Well, you know, this really did create some work anxiety because look, I have this work already at my house. I can go clean out my garage. I can go clean out my upstairs attic. You don’t have to go buy somebody else’s junk. Sell your junk. There’s the scheme that’s actually going to make you some money. Sell your own junk.

Bo: Building wealth is not necessarily easy. And a lot of these schemes want to make it seem like it’s a super easy thing. It’s not easy. It’s a slow process, but it is simple. You don’t have to outsmart it. You don’t have to come up with something new. There are tried and true strategies that you can employ that can really help you build wealth, not the things that we saw in these videos.

Brian: Look, if you’re brand new to our stuff and you want to know how you really can build wealth, do this. Go to moneyguy.com/resources. We literally give it away. We tell you what you need to be doing. We talk about wealth multipliers. We show you the Financial Order of Operations. There is a better way to do money. Don’t cut the corner off and squander your most valuable resource. That’s your time. I’m Brian. This is Bo. Money Guy Team out.