HOSU 5 | Financial Freedom

Saving The World From Trading Time For Money – With Russ Morgan And Joey Mure From Wealth Without Wall Street

In a perfect world, people would be able to earn money without working. People would somehow meet financial freedom without putting the work in. They would have the time for their families, friends, and hobbies. Sadly, that is not how the world runs. People have to work to earn income but there are ways to make that work more hassle-free and less time-consuming. Join your host, Matthew Sullivan, and his guests Russ Morgan and Joey Mure. Russ and Joey are the founders of Wealth Without Wall Street where they help people earn financial freedom. Join in and learn how to earn passive income so that you can have more time for your family and yourself.

Watch the episode here:


Saving The World From Trading Time For Money – With Russ Morgan And Joey Mure From Wealth Without Wall Street

In this episode, we have none other than Russ Morgan and Joey Mure. I am hugely interested to find out more about how you guys got together and what is Wealth Without Wall Street, Infinite Banking? What are all of these myths that you explode with your community?

We met back in 2007. I can’t remember how far back.

It was right before the crash may be the start of it. We haven’t decided that yet.

We were friends first. I was in the mortgage business and he was a traditional CFP, Financial Advisor, Money Manager. For the longest time, he wouldn’t send me referrals. I was like, “We go to church together, we hang out and still no referrals. What’s the deal?” It’s because they had an in-house mortgage company at his deal. I was like, “Whatever.” They’ve got rid of their mortgage company shortly after 2008. He’s like, “By the way, you are there by default. I will start sending you referrals. before I can send you referrals, you’ve got to read this book and it’s $20.” I’m like, “That is low budget. You are asking me to read a book and you are going to charge me for it? Can’t you at least give it to me? What’s the story here?”

Matt, you have been there how cheap this guy was. You would know if he spent $20 on anything, he had read it. I didn’t want to invest in his future. I wanted him to invest in.

HOSU 5 | Financial Freedom

Becoming Your Own Banker: Unlock the Infinite Banking Concept By R. Nelson Nash

Wouldn’t you have been better off leasing the book to him? You can reuse the asset.

The return on that probably would have been higher.

I paid for it, went through it, read the book, and, to be honest, it was exactly what I was looking for at the time. I didn’t realize that I was a good prospect for this whole system or process. The thing that caught my eye about it was because I was in such a highly volatile income situation with commission coming and going into the mortgage business, I didn’t feel comfortable putting money away for 40 years and hoping for the best. That’s his strategy.

Can you give us any indication of what that book was?

It’s Becoming Your Own Banker by Nelson Nash. When I read that, it was like, “This makes so much more sense. My 401(k) was the place I was putting money but it never gave me any peace of mind that if I had a terrible quarter, I have money locked up.” Not too different than what you are talking about with home equity contracts. People have all this money locked up in their houses. I felt the same way with long-term savings in these vehicles like qualified plans. This book gave an alternative that said, “You don’t have to keep going in those directions, you can become your own banker and you can create for yourself,” financial freedom now, not necessarily waiting until you are in your 60s and 70s deferring life by that matter.

That is a very non-traditional view. If you think about the timing, this was 2007, 2008. Russ, was there anything in particular that made you pick that up? If you were a financial advisor, this is off-piste for a typical financial advisor. What brought you to that?

The book timing was in 2009. He and I met in 2007. It took me a couple of years to take a liking to him, to where I would be willing to send him mortgage referrals. I wasn’t willing to invest in his future until after that but the market crashed in 2008. I know you were a stockbroker back in the day. I had very similar securities licenses and things here in the States. That is what I did. We did retirement planning, 401(k)s, IRAs, that the typical market-based money management things. When the market crashed, I was at a conference that had lots of different speakers at it. One of the speakers was the author of that book. He was sharing a concept that it was definitely going against the grain of what I have been taught, what my CFP training had been instilled into me but I was open to it because I was literally coming out of a timeframe where the market had dropped 30%, 40%.

We think that is just a normal day. Back then, that was a pretty sizeable blip on the radar. I’m one of those who love to be in control and I felt very out of control. The people I was talking to behind the scenes, the people that I thought were in the know, they didn’t know either. When I was reading the concepts out of that book, “You can control your cashflows. You can start building cashflows like the businesses that you typically would tell people to invest in. They can do that themselves and create that passive income.” That was super interesting to me. The timing was right. I had heard about the book and heard about some of those concepts before but it wasn’t until I had that car crash moment with the market that I was adopting and taken a serious look.

The first investment you should make is in yourself.

A lot of people have those Road to Damascus experiences where suddenly, everything becomes clear. What are the steps? You are now running this very successful network where you are educating and bringing people into something that makes absolute sense from a common-sense perspective. It seems impossible to fathom it until you explain it. Why on Earth did I never get introduced to this many years ago?

That was the genesis of it. It’s like anything, you are learning. In 2009, I was learning that I needed to have my cash in a place that I could access it. I still had the same inputs in my brain from previous things of what I should do with money. Even though I had access to money, I was still struggling with how to do it. I was thinking, “What are the best uses? Is it to pay off debt? Is it to find investments and maybe businesses that would appreciate that maybe I would just be a sole owner in, or a private investor into instead of working with publicly traded companies?” It took a little bit of doing that. Ultimately, Joey and I are partnering together. He was a client of mine for years and he came up with a lot of amazing ideas. I always beat him up but he is a genius in many ways.

I watched him come up with creative ways to free up cash and think of ways that we could put cash to work, whether it was private lending. He came out of the mortgage industry and we started doing lending on cars and lending on houses. It’s all an interesting strategy. It took a while for us to ultimately come to a point where we realized that having more passive income than we have monthly expenses was truly financial freedom. Up to that point, I had been in a world of thinking I needed to accumulate money like, “I’m putting it into a different place than I was putting it before. I feel confident in having access. I feel confident that it’s not going to go down in value, 30%, 40%.” I still was in this mindset that I needed to have $5 million, $10 million, $15 million, whatever the number is, in an account at age 65 that I could draw down 4% every year and not run out. It took a while to observe what other people were doing and for us to understand the model is more creating cashflows than it is accumulating.

Where you are now? You have this enterprise where you are explaining, educating and bringing people into this. That, in and of itself is a huge achievement to be able to create a marketing presence. How did you move from your traditional positions within mortgage companies and wealth advisors where you have traditional approaches of finding customers to something, which is truly innovative in terms of the branding, how you approach people, have a network? What were the steps involved? If you think about it from someone who has something similar, maybe in a completely different field, what brought you to decide that the best way to get your customer base would be to reach out to people that you don’t know in an incredibly crowded marketplace? How did you build something that would be truly differentiated?

Financial Freedom: At first, people don’t feel comfortable putting money away for 40 years and hoping for the best. But when that terrible quarter comes, you always got that money locked up somewhere.


I would say that you are talking to two guys that fell forward pretty fast. We did it on accident. We ultimately started to say, “We have all this cash that has been built up because we started taking control of our own finances. We need places for it to work.” We went from that accumulation mindset to need passive income. We said, “Let’s start a podcast to start interviewing people who are way smarter than us, learning the best things that are out there.” We did it really and truly with the mindset that we want our clients to be able to hear those conversations. At the time, we probably had a couple of hundred clients. We were thinking very small. We were like, “If we have these conversations and the clients can listen in, that is a way for us to scale those conversations instead of having all these one-off conversations with individual clients.” We started doing this a few years ago.

During that time, the ideas that people have been able to bring to us as a guest, and then the things that we have been able to find as a result of networking with those guests, have turned into our own personal journey being documented and building our passive income portfolios. We realized, “I have created a business that owns me until I make it passive.” How many people who started up a business think are getting freedom because they no longer work for somebody else but what they did is they created their job. Russ and I would say even in the last few years, I had a conversation with one of my daughters. This is silly to most people but it’s one of those anchors that has driven me over this whole time.

She was about three at the time. I was taking her to daycare. She was in the back seat.  We were driving along. She says, “Dad, are you going to pick me up this afternoon?” I said, “No, baby, your mom is going to pick you up.” She said, “Why aren’t you going to pick me up?” I said, “I’ve got to go to work.” She’s like, “Why do you have to go to work?” I said, “It’s because I’ve got to pay for the car, house, food.” She said, “We already have a car, food, a house.” As silly and as infantile of a conversation that was, the fact that I said, “I have to go to work,” told me I didn’t have the freedom that I sought. I wanted more than anything to tell her, “I will come to pick you up. What do you want to do after that?” It’s because I have to go to work, I have built this prison of a job that I own. I don’t have the freedom. I had to get serious about creating passive income and telling my dollars to go to work and bring home that extra cashflow. That’s an anchor that drives me.

I share the same thing because most of these problems occur in that strange space between your ears. In other words, you think, one thing is, “I have to go to work. I can’t pick you up. I have to do this.” A lot of it is that horribly overused word, which is the mindset. If I think, if you do work for someone else, then you are beholden to what they want you to do because they are paying your bills. If you work for yourself, a lot of what you do is down to your approach. If you decide that you are going to slave away and concentrate on the stuff that is not urgent and not important so that you are going through the motion. There are a lot of education that needs to happen with people that run their own businesses to try and explain to them what they should be focusing on and the fact that they can take time off.

What you are saying is, whether it’s mindset, clarity, goals, I don’t think a lot of people have the license or have given themselves the license to dream of what it would look like. If you don’t set a goal, how are you going to know if you are getting closer or further away from it?

Is there a guilt thing? Joey, you are working for yourself and COVID has changed a lot of this because people are forced to work at home. Now it seems illogical to go to an office if you can run your business. That’s a good thing that has happened. What was the thing that you changed? I don’t think it is money. You can’t immediately change your salary or your income. You have to do that over time. At that moment, what was it that changed for you?

Financial Freedom: Entrepreneurs are producers by nature. They have no interest in sitting still. They want to be productive.


There are a couple of things. Number one, we had a consultant that was working with us. He got us very clear on the prospect of what is it that you want this business to do for you. Russ and I were talking about how much money do you have to make? Everything else you need to put into building systems and people to give you more and more of your time. That is what I was after. I don’t want to have to go to work. I want to have this business run for me and allow me to work less and less in the things that only I can do to push the ball forward in whatever we are doing. That was one thing.

The second thing was, outside of this business, all this cash has to go somewhere. I need to be very clear about, “Does it create cashflow for me now?” This goes back to your point about mindset or what people are thinking is if I have this passive income coming in every month, regardless of what I do with my time, I’m now lowering that threshold of requirement on me to produce. That gives me more freedom and the license to say, “I’m going to take the next two weeks off and go do something with my family.” When before, that never was even an option because if I’m not present in my business, things are not happening. Money is not coming in. Secondly, I have now another stream or multiple streams helping to offset those expenses. It takes the pressure off. That has been what the journey Russ and I have been on. We share now every single month the different passive income strategies that are all Wealth Without Wall Street that people can learn from what we are doing. They get to hear the results, good, bad or indifferent.

I think that it’s a two-edged sword.  It was one of the Marx Brothers that said, “I have enough money now that I can live for the rest of my life as long as I don’t spend anything.” If you have that income, the funny thing is, as an entrepreneur, it lessens your quality of life because you think, “Where’s the challenge?” To a certain extent, we thrive off that adrenaline and growth. What you are saying is that you are not building something so you can sit back and just drink Margaritas for the rest of your life. It’s a different type of business where what you are building is incremental income so that you can still grow the business. As an entrepreneur, you can build a business but rather than building a business where you have this payoff in the future, you have that instant gratification where the cashflow is coming in each month.

One of the first questions we asked when people enter our community is, when you become financially free, it will allow you to do “fill in the blank” because we don’t believe that sitting on a beach and sipping Margaritas is where anybody wants to be after the two-week timeframe. Most people can even make it two weeks but I’m giving the benefit of the doubt. Somebody stays two weeks and maybe they have to self-quarantine because, on the way back into the US, they test positive. They ended up having to be there the full two weeks after that. Entrepreneurs are producers by nature. We have no interest in sitting still. We may not want to do the business that we were in. Maybe we do, maybe we want to start another one or fifteen other ones. There are many activities we want to be productive.

It is the point though that I think so few people have given themselves the ability to do that. They are prisoners in their own jobs and in the businesses they have created. They don’t know that there is a way out and a formula that could give them freedom. We walk people through a three-step method that says, “Let’s get clarity. Let’s figure out what it is that you want. If you’ve got it, what would that look like?” For most people, it takes a while to be able to do that but we have a process. We have a challenge that people can go through and get super clear on what that looks like. We then help them walk through how do they get control over their finances. There are some simple things in there but there are some tools that aren’t taught and ways that a lot of the wealthier people and the corporations, the banks and other industries are using, and then we start looking toward what is the course? What is the place that is going to get us to that destination as fast as we can? What are the passive income streams?

We share probably 7 or 8 different passive income streams that we have coming in outside of our mainline business every single month but we don’t pretend that those are the only 7 or the best 7. They are just the seven that resonate with our own investor DNA. It’s a tool that we use within our business to help people understand who they are and how they do resonate with the key factors, the different opportunities that exist. That’s the process. Once you get there, it’s, “Now I’m going to actually live out being there.” For us entrepreneurs, a lot of times, we tend to build and burn.

You do that because the vast majority of people fall into things, myself included. You fall into your first job because you are either following in the footsteps of someone else or someone else has advised you to do something. A very few people at an early stage have the real benefit of knowing what they want to do. You fall into being a mortgage broker, a financial advisor or a stockbroker. It’s something that is there. You think, “I will give it a go.” It’s because of that, your experiences and education is relatively limited. If you wind the clock back and say, “If I go back to the beginning and start with all the things that I know now, I would take a completely different course.”

The real benefit and the value of what you bring is that education, which is a most overused word but it is explaining to people that you can be in a position of knowing now, being able to turn the clock back as it were so that you can begin to do the things. It is a whole new experience. It’s slightly off-putting because it feels like it shouldn’t be this way. It feels like I should be working terribly hard. There is that sense of, was it cognitive dissonance? It has this great expression where it feels wrong to have all this cashflow coming in, even though you are the one that’s engineered it. How do you deal with that with people? Once you start showing these simple methodologists to people which are entirely logical, how do people react?

Starting your own business doesn’t give you freedom. You just created another job that’s yours.

I love that you talk about the different stories that people are having. I will be very clear. My driver is to invest more in my family. Time is the most important thing. That is why I wanted to build these different passive income streams to get more of that time back. In Russ’s case, he thrives off of building new things all the time and having brain space to be able to think up new businesses and passive ideas. Just because you are financially free, it doesn’t mean you stop producing. You start doing more of what you wanted it to provide.

When we have gotten people from the community, for instance, one gentleman works as an excavator and pushing dirt all day, he has listened to the podcast, calls us up and he was like, “I need to get access to cash. I need to get my finances in order.” He does that. He goes through a terrible accident, breaks his leg in Utah. He was snow biking accident. He had to be airlifted but while he was sitting there laying on the side of the mountain, he thought back to a podcast we did on land flipping, he was like, “I wonder if I will have time to maybe pursue that while I’m laid up in the bed.” He starts learning about that. He applies and now he is free cash to go and starting a side business in land flipping.

In 24 months, he was able to produce enough passive income from this land-flipping business that his wife has now retired as a nurse so that she can be home with their three kids and invest in their family. To them that was exactly what their goal was, to begin with. To get clarity around, “We want our family to be invested in and this is the best way for that to happen. Now, how do we replace her income?” In 24 months, being able to say that was done, that to me, is a huge success story.

Most of these success stories, though, combine one key element, which is the person dedicates themselves for 24 months to make it work. Many people dismiss these things as get-rich-quick schemes. What they don’t realize is that they are all solid business models. Land flipping is a great idea. It’s parcels of land in the middle of nowhere that will go through tax auctions. You can pick them up for cents on the dollar because nobody wants it. After all, it’s an acre in the middle of nowhere. You knock on the door of the neighbor and say, “I have pulled up a parcel of land next to yours. Would you like to buy it back or would you mind if I put my drilling rig on it?” There are real businesses and supply-demand problem solutions. Do you get lots of people that say, “Have you got anything where I don’t have to work that I just put money in?” That is not a common question.

People love that. That is a kissing cousin to Wall Street, in our opinion. We want the easy button. We want to default to that. When I was moving out of being the financial advisor, I started looking for alternative investments and what I was looking for is exactly what you have described. It’s a place where, “Can I just put my money in it and let it kick out money to me?” I’m not saying all of those ideas are bad and that is not what you should pursue. It is, though the easy financial button, it is the thing that we tell people is not the first thing you should do. The first investment anyone should make is in themselves. If they are reading this, as they are, that is an investment in themselves. They are learning and trying to learn.

HOSU 5 | Financial Freedom

Financial Freedom: Time is the most important thing. You want to build these different passive income streams to get more of that time back.


Too often, people don’t know what to invest in or what to expect from the investments that they make because they don’t understand the investment at all. They don’t know how to even check up on it to see if it’s a good deal or a bad deal. When you hear about this billion-dollar Ponzi scheme that goes on, they don’t know because they don’t have the ability to understand the backend workings. When we talk on our show, we talk about side hustles that become businesses, ultimately passive income streams. Typically, the majority of the clients that we work with are building a side hustle. They are building an income stream that they are working in a couple of hours a day. It then becomes a couple of hours a week, then a month. Along the way, they are building systems and people into the business.

We have all sorts of people that come on our show but we have a very young guy. We were talking about the land flipping business. This guy right out of college, produced within a couple of years, $10,000 a month net out of his land flipping business doing exactly what you said. Buying property at cents on the dollar, turn around it and sell it on terms.

That is what people don’t seem to get. Most people dismiss all this stuff because they are not willing to put in the effort. They think it is passive income, “I can give you my money.” What they didn’t realize is that someone is going to do the work, it’s like the Second Law of Thermodynamics. The Law of Entropy, where if you don’t put enough energy into something, it naturally goes to shit. That is the biggest challenge I think is getting people to realize that these are all great solutions but you have to put your shoulders into it.

What I have found is that people when go through a process, most of the time the average working person is head down focused on whatever their job is, businesses. They think, “I’m on the right path. I’m saving money. I know people aren’t. I’m not spending every dollar I make. I know most people aren’t doing that. I’m going to be there and my business is going to be worth so much money in the future. I will sell it off. I will make all this money.” They have no idea that what it would take for them to truly be financially free. Just the great guys that we are, we show them a calculator early on and we say, “Let’s do the math.” We have done the math. We were financial advisors. We have interviewed the Retirement Income Professor, Dr. Wade Pfau, on our show, who has done all the Mathematical Monte Carlos Assimilation Studies on how much money you need to have.

What’s the probability of having that money last over some time? In this environment, it’s about 3%. It’s easy. If you make $100,000, multiply that times 33.33. That is how much money you need in an account based upon all the simulations to say that you could retire, live off of it without it go into zero. For most people, they go, “I make $100,000 a year. You said I need to multiply that times 33.33, that’s $3,333,000. I have $75,000 in my 401(k) now. I’ve got $250,000 in my SEP-IRA. I’m not going to get there.”

That is when they do come up and say, “I’m ready to do that.” The orthopedic surgeon who is again in Utah skiing has a heart attack on the mountain at 48 and says, “I’m just a high-paid carpenter. I thought that I had enough time. I would make enough money but I may not have time. I may not have enough money.” He comes to us and says, “How do I replace my income? How do I do that?” A guy who makes a lot of money is trying to find ways to build streams of income and it doesn’t come without labor. Joey and I owned numerous businesses. We don’t work in them but yet, we do have regular meetings with them. We do add input value to those businesses. We hire people to run the day-to-day. Those businesses create income streams for us. Do we say passive doesn’t mean un-involved?

Is it a myth that you need to have hundreds of thousands of dollars to be able to start with some of the programs that you offer?

It’s zero. There are some of the things where people start with no money at all. What you have to have is a skill. You have to have the opportunity and then money. You don’t have to be the one that provides the money, though. There are so many opportunities where people can raise money. If you show somebody the opportunity and the ability to get it, money will find you. Money is the easy thing. Most of the time, people get into this and they partner with somebody with money. As soon as they get to a point, they stop borrowing the money from the person because they’ve got all the money that they need. They’ve got all the experience. They don’t want partners in the deal because they know that they are the ones adding all the value.

That is one of the greatest myths that the hardest thing is raising money. It’s quite hard to get the first dollar through the door. Once you have got something that generates returns, then the money chases you. Money is this commodity that needs to grow. Finding, reliable, trustworthy, effective ways of growth capital, is the golden egg. Once you have something that people see, then they will be knocking your door down.

No doubt. That goes back to what you were saying is how have we been successful at all with this brand is that we have been on the journey to help our clients find the best places that have worked for us in creating passive income. When we started that show, we thought we were talking about 200, 250 people. We started getting people from all over the country saying, “I heard your show. I want to work with you guys. Can you help me?” They are up in Maine or Massachusetts or Utah.

Russ and I looked at each other one day and we are like, “We better learn how to go virtual with our meetings because this whole belly-to-belly front-facing to face-to-face meeting stuff isn’t going to work with people calling us off the show.” We went all virtual and then COVID hit, a few years later, we were blessed that we’ve got into this virtual life and business before then. My whole point was if you create value, which is only been because we wanted to find answers for ourselves, people take note of that, and then they start following. That is where the brand has taken off. It’s creating that value for people.

People appreciate value, receiving something in exchange for their time or their email addresses. It irritates me more than anything else in those courses where they drip-feed information to you on the assumption that entirely you are without a brain and can’t figure out what they are trying to do. “If you want the next episode or the next chapter, send us that extra $200 and we will give you the diamond plus membership.” The idea of providing value and showing people how to do things because the moment people realize what the opportunity is that they need help, you have a customer for life. When people realize that you do bring huge amounts of value, knowledge and experience, then they will pay. They will do whatever they need to do to tap into that.

Live so that you have enough money now that you can live the rest of your life as long as you don’t spend anything.

Once people find the pain, our job is to understand what someone’s goals are. Sometimes it’s to get something. It’s the game that they are looking for. Sometimes, it’s to get away from something. That’s the pain that they are dealing with. Our process always starts with clarity because we believe we can’t help somebody. One of our coaches is a pilot. He says, “If you come to me and you say, ‘Can you help me pack for my vacation?’ My brain is always thinking board shorts and surfboards.” He grew up in Hawaii. He was like, “If you are going snow-skiing, I’m not going to be a good help unless you told me that is what you want it.” That is the way we believe is that people have different ambitions. Some have the goal of growing things, of getting away from things.

Our purpose is that we know people will do the work. We are not a fit for everybody. Some people come to us. We did our passive-income report. We will have people say, “How do I do this one thing that you guys did there? It seems so easy because I see the number. The number is big.” They go, “Can I invest in that?” We are like, “No. That is not the way that works. It takes effort, knowledge and time.” The things that they want to invest in. It’s not the first thing I invested in. We believe that there is an approach to stacking money on top of others. You’ve got to build it in the right order. Otherwise, you are building skyscrapers on the sand a lot of times.

Talking about ambition, I believe it was Joey that wanted to be a professional baseball pitcher. Is that correct?

No, that was Russ.

I had that ambition early on in life. It didn’t last very long. I had a baseball injury that tore my UCL. I’m throwing 91 miles an hour as a high-schooler down to 78 miles an hour.

Did you want to come off and follow the ball along and hang on a minute?

It turned a direct 90-degrees left. I was walking around with an L-shaped arm for a long time.

There must be some use for that, though.

That’s right. You can punch people. You have to use your shoulders.

Punch people around corners. It is fascinating what you do. It is built on knowledge, experience and hard work. There is magic but the magic comes from that coalescence of hard work, inspiration and education. I’m pleased to announce that we are now moving onto the next section of the show. It is where I will ask you ten incredibly difficult questions that I shamelessly stole from someone else. I didn’t steal them because I have changed two words so that means that the intellectual property is now mine. I’m going to ask you each of these questions. They start with question number one. Russ, over to you, what is your favorite word?




Number two. Russ, what is your least favorite word?


Joey, your least favorite?

My least favorite is fear.

Russ, what are you most excited about?

Our passive income report that we do monthly.

Joey, over to you?

Mine is just having more time with the family.

Joey, what turns you off?

All of the noise that is surrounding us. Just all the different various things going on around us.

Russ, how about you?

Losses. Specifically, my Atlanta Braves. They are constantly losing.

Was it a football, baseball or something?

Entrepreneurs build and burn until they find success.

This is baseball.

I’m taking my 4 and 6-year-old sons to baseball. I’m standing there like a complete turnip, knowing nothing and looking serious. I’m trying to pick up how this game is played. I’m learning just as much as they are. Question number five, Russ, back to you what sound or noise do you love?

I love my children singing hymns when I work from home. We work from our houses a lot of times. My wife homeschools our kids. She is teaching them different Bible hymns. I love it when they are out there singing. I can hear them.


Mine is the sound of waves at the beach.

Joey, back to you. What sound or noise do you hate?

I cannot stand whining and complaining. With five daughters, I get a lot of it.

I think I will just edit that piece out. That’s the piece that’s going to be the “I hate whining.” Russ, how about you?

When somebody’s voicemail picks up, I love it when somebody answers the phone. I hate it when I get their voicemail.

What is also good, fun is pretending to be a voicemail when you answer the phone saying, “Hello, this is Matthew Sullivan. I’m here.” Do you know so far no one has found that funny apart from me?

I would find that funny.

Russ, can I ask you the next question? You may plead the fifth on this. What is your favorite curse word?

I’m an equal opportunist on cursed words typically but I would say, “Son of a bitch,” is one that I heard a lot from my dad growing up. It is maybe nostalgia. That’s what I will pick.

There are so much intonation that can go into that. Joey, how about you?

I don’t have one.

I know there are so many.

I don’t even know if I have ever heard him cuss. I can honestly say I don’t think Joey has ever said one.

Do you just let it all brew up inside so that one day, it is going to be this atomic explosion?

I will say this when I play golf and I make a terrible shot. I’m always like, “Joey.”

He is burning at that point.

He grew up in a much different household. I don’t know if you have ever seen the movie, A Christmas Story, where he said the, “Dad worked in words some people work in oils and paints.” That was my dad. He’s constantly just throwing out. He could go a minute and a half of that, saying the same one, twice and not saying anything other than a cuss word during that 90 seconds run.

Maybe you could buy him a Thesaurus for his birthday or something.

I will help him out then.

My next question. Russ, to you, what profession other than your own would you like to attempt?

This probably would not shock Joey. I would love to be like a talk show host, game show hosts, maybe like, The Price Is Right, Family Feud. I think that I would love that. That would be fun.

I would like to be in the background doing the cheer. Joey, how about you?

It’s probably a full-time real estate investor or perhaps a hand model?

What sort of model, a swimwear model?

HOSU 5 | Financial Freedom

Financial Freedom: If you create value, people take note of that, and then they start following.


A hand model, I’ve got good hands.

If I can stay with you and asked you, what profession would you not like to attempt?

I would be terrible as a first responder of any sort, firefighter, policeman, you name it. Amid mass hysteria, my instincts are not that strong. I would get killed or kill somebody else on accident. It would be bad. You don’t want me in that role.

As a first responder, killing someone is generally frowned upon. It’s just the alternative. Russ, what profession would you not like to attempt?

I would not like to be a politician. I can’t imagine. In the US, the US president is hated by at least 50% of the population and probably 70% of the world’s population. That is one of those areas I do not want to participate in.

To some, that’s an aspiration. To be hated by half the population, that’s quite a large number.

I like to be liked. I don’t want to be a politician because instantly you’ve got at least 50% of people that hate you.

Imagine walking down the street thinking, at least half the people I see, want me off the planet. I suppose to each their own. Russ, my final question, if heaven exists, what would you like to hear God say when you arrive at the Pearly Gates?

“Well done, good and faithful servant.”

Joey, what would you like to hear God say?

I will continue that line from the Bible, “Enter into the joy of your master.”

Russ, Joey, I cannot begin to thank you for what was an incredibly interesting, exciting, fun interview. My last question is, how do people get ahold of you, find you? How do they find out more about Wealth Without Wall Street? How do they sign up for your network? What is the best way of contacting you?

We built a community and you alluded to that. Sometimes, just hearing us challenge that traditional mindset, we built also a tool. It’s a free tool. If you go to

WealthWithoutWallStreet.com/scorecard, you can actually find out in maybe 1 or 2 minutes how close are you truly to financial freedom. This tool that we have built, this calculator, will let you know, as a percentage, how close are you there? On that same page, when you are there, you can sign up for our free community. We have over 4,000 people that are part of it now. You can download it in the App Store at WealthWithoutWallStreet.com or just in the App Store, Wealth Without Wall Street and be a part of a group that is trying to be financially free as soon as possible not waiting until they are 60 years old to accomplish that.

I would stress everyone to get on there, download it and do it as soon as you can because it will be a real eye-opener. Thank you once again, gentlemen. It has been an absolute pleasure. I can’t wait to stay in touch, follow your progress, see and speak to you again.

Just because you’re financially free, that doesn’t mean you stop producing.

Thank you for having us on the show.

We are so grateful.

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About Russ Morgan

HOSU 5 | Financial FreedomWealth Without Wall Street’s Founder and Partner, Russ Morgan, is known as “The Idea Guy.” Russ began his professional career as an investment advisor in 2004 after graduating from Auburn University — a slight foray from 10-year-old Russ’ dream of becoming a professional baseball pitcher. Russ started IBC in 2009, and eventually went on to found Wealth Without Wall Street in 2015. Russ’ mother was an enormous inspiration for him growing up. As a single mother with two young children, she took a rigorous, accelerated track through college while working multiple jobs, all with the goal of bettering her children’s lives. When he’s not working, you can wave to Russ on a boat at the lake pulling his kids around on a tube. And on Sunday mornings, he’s probably rushing to church with his family … only 10 minutes late.

Russ’ creativity, fresh ideas, and knack for problem-solving are indispensable assets to his role at Wealth Without Wall Street. Russ would describe himself as competitive, creative, and passionate; his colleagues would likely add that he is helpful and abundant. Russ hopes to be remembered as an innovator who loved to teach others, and he has a goal to one day serve in the mission field. Finishing the book is another more near-term goal. Aside from Wealth Without Wall Street, Russ learns from the Business School podcast with Sharran Srivatsaa and Donald Miller’s Building A StoryBrand book and podcast. Aspire Movement, Campus Outreach, and Young Business Leaders are three causes near to Russ’ heart. Russ in one motto? “Just try!”

About Joey Mure

HOSU 5 | Financial Freedom

Joey Mure, Founder and Partner at Wealth Without Wall Street, brings impact, integrity, and generosity to the company every day. He hopes to be remembered as a lover of Jesus, devoted husband, and faithful father. Despite dreaming, around age 10, of becoming an orthopedic surgeon, Joey was in the mortgage business for 11 year before moving to finance in 2014. His personal mentor, Nelson Nash — another man of integrity and impact — is someone Joey deeply admires. Joey’s strengths in building relationships, asking great questions, and influencing and empowering people with the Wealth Without Wall Street message make him invaluable to the company’s mission.

He is relational, impactful, and a true leader. His colleagues would add that he’s thoughtful, funny, and a family man. Many people don’t know that Joey ate a 72-ounce steak dinner once. If he could be anywhere other than work, you’d find him at the beach with his family. And every Sunday morning, they’re worshipping the Lord. A lifetime goal of Joey’s is to impact the world for Christ; and a more near-term goal is to purchase a beach house for my family. Aside from Wealth Without Wall Street, Joey listens to Sharran Srivatsaa’s Business School podcast and Donald Miller’s Building A StoryBrand podcast. He’s happiest when he’s traveling with his wife or golfing with his girls. He cares deeply about Campus Outreach, Cru, Navigators, Sav a Life, Lifeline Adoption, and Young Business Leaders. His aims to live by the words “Trust in the Lord with all your heart and lean not on your own understanding. In all your ways acknowledge Him and He shall direct your path (Prov 3:5-6).”