TEDM – Darren Mitchell – Control and Compound; Infinite Banking for Infinite Options (Episode 221)

The Everyday Millionaire

After 20 successful years in the pension and individual financial planning industry Darren Mitchell started to realize the typical financial planning strategies most people were following were not working. The result of these findings was a 3-year education crusade. Darren realized all the financial education he received as an advisor came from Wall Street/Bay Street, banks, and insurance companies and it was all biased in their favour – not his clients. He started paying (a lot) for his non-biased education and traveled almost monthly throughout North America to learn from the top financial minds in the world.

These top financial minds taught Darren how to find the truth about the financial industry. They taught him there are much safer strategies than what most people are following. They taught him how to increase rate of return, increase client’s control of their money and increase retirement income while decreasing risk and taxes. Most importantly they taught Darren that the wealthy are not using the same financial strategies as the middle class and if you want to be rich, you need to do what the wealthy are doing.

Darren Mitchell’s mission is this: to create more value than you receive and to inspire the entrepreneurial spirit in each and every individual. In this episode Darren talks about how he is achieving that along with his team at Control and Compound. Their sole focus is infinite banking and helping clients have more control of their finances through risk mitigation, wealth conservation and growth. Darren walks us through a scenario of how it works and answers Patrick’s questions to illustrate this foundational strategy he refers to as a compounding opportunity / emergency fund. Darren recounts how he went from a nice comfortable corporate job to starting his own business. Working with top coaches and mentors plus surrounding himself with a community of like-minded people was game changing. Both Darren and Patrick emphasize the importance of investing in yourself and agree it doesn’t always mean handing over money. Along with the two books Darren has written: “Be the Bank!” and “Infinite Banking for Real Estate Investors,” he also hosts a podcast “Control and Compound” which serves to share knowledge and ideas and give back to fellow entrepreneurs.