Mastering Family Finances: The more you know the more you get With Bill Westrom - Episode 516

So on $10,000 at a 30% tax rate, you're only getting, you're only saving $3,000, but you lost $7,000. You lost $7,000 to save $3,000. Is that, who does that? You don't, you wouldn't do that on the, you wouldn't do that on the asset side. So why is it good on the debt side?

Welcome to Streams to Impact and be inspired to engage passionately in the work of your calling while achieving financial prosperity through multiple streams of high yield returns on investment to bring your dream of making a meaningful impact to reality. I'm your host, Dr. Allen, and I am delighted that you are joining us today. If you haven't yet, get a complimentary copy of our exclusive guide, High Yield Investment Blueprint: Secure 18%+ Returns in 60 Days. Go to our website, highyieldblueprint.com. That is www.highyieldblueprint.com. Just provide your email address and we'll send you a copy today. Hello, enlightened investors! Welcome back to Streams to Impact. I'm your host, Dr. Allen, and we are delighted to have you with us again today as we look at mastering family finances. Uh, the more that we know The more that we can benefit from that. With us, we have an expert in the field of family financing, and his name is Bill Westrum. And he is the co-founder and CEO of Trust Equity and the architect behind credit line banking, a revolutionary banking strategy that's changing how Americans save, invest, and So, Bill, glad to have you with us. So just take us into the show, and if you could share with us what inspired you, what, what was the moment that inspired you to take the journey that you've taken in terms of helping us to master our financial planning?

Well, boy, that's a good question. Because I didn't set out to do this. I'm here by accident. And when it comes to my passion and all that, are you familiar with the Oregon Trail?

Yes.

Briefly in history?

Yes.

In history class? Well, that basically opened up in 1811 until the late 1800s. And one of my relatives on my mom's side was in the first expedition after Lewis and Clark.

Oh, wow.

And he was one of the founding fathers of the Oregon Trail.

Wow.

And so, and through my whole life, any men in our life, in my family's bloodline, nobody's ever held a job. Everybody's been a self-made man. So it's a DNA problem.

You know what I mean? Yeah.

And so I've always had whatever I've gotten into, I've got a passion for. But back in the mid-'90s, a friend of mine and I, we shut down a print shop. I was a printer for a little while and I was in between careers. I needed a new job, so I applied for a mortgage broker job because I was looking for something with longevity and obviously Home lending is never going to go away. And so, I ended up in that by accident. And then, about 5 years later, somebody introduced me to a unique financial strategy out of Australia. And me being me, I just saw an opportunity there to differentiate myself from the competition. And I'm not putting down the industry itself, but home lending is a commodity. Just about everything out there is a commodity. It's pretty easy to find somebody to lend you money, right? And I wanted to— I didn't want to stand in line with all these people. So when I got introduced to this strategy, I saw an opportunity. It took hold and I went for it. And when I started my business, I got to correct you. You said Trust in Equity. I'm truthinequity.com. T-R-U-T-H.

Sorry about that.

It's okay. It's okay. It happens all the time. But anyway, in '06, I was working for an Australian bank that brought this to the country. And, you know, they were— their business model was, you know, get this, their loan out to the public through mortgage brokers. And I knew I was going to starve to death if I had to follow that model, because what I'm doing now and what this Australian bank introduced is just totally outside the realm of comprehension for most people. And so, I quit the Australian bank. I grabbed a broker that understood what we were— what this thing was all about. And we shook hands. We both quit our jobs. We had no plan. We had no money. We just said, let's go. And that's how it all started. And the passion that I have for it now, that's been a growing thing ever since we started. Because the way I conduct my service, because I want to make this very clear to everybody, I don't help anybody do anything. Help is such, you help an old woman across the street, right? But you teach your kid to walk across the street so you don't have to help push him across the street in a wheelchair.

Yeah.

So, I teach, right? Because nobody needs help managing their money and paying their bills. Nobody needs help doing that. You know, the system is built to where you don't have to think about it. You don't need help doing that. But what people do need, they need to learn a better way to get more out of what they're doing. And through the years, because of the way I conduct my service, because I'm different from everybody else in the financial world, everybody in the financial world, they convince you to do business with them. You pay them your money, you get your loan, you get your product, and they turn and walk away.

Mm-hmm.

You're on your own and they're looking for somebody else to sell a loan to. Well, I don't do that because I don't sell loans. I don't sell software. I don't sell anything but what's in my head. So, my service is a one-on-one continual relationship. And because of that, I get to see the results of what I teach. And then, you know, because I'm talking to my students along the way, I get to feel the results through them on the phone. And when you start feeling this emotion through the phone and these people are just like, I had no idea my life could be this way, that's what drives my passion, is the results. And it's exactly the reason I do what I do is because of conventional traditional financing rules and what we should be doing. Uh, you look at the results.

Yeah.

And, you know, as citizens, we pump trillions of dollars through the banking system. We're the— if you look at the economy, everybody looks at the economy from the top down, starting with the media, right?

Mm-hmm.

And you got to look at the results. The results are horrible. You know, people are struggling and this, that, and the other thing. Why are we struggling at the bottom? Because if, if COVID's a great example. What happened to our economy when it shut down, when we got sequestered? Nothing's moving.

Yeah.

The only reason the economy kept moving during COVID is technology, because that was the only way people could buy and move money around. Without technology, imagine where we would have been. Whole different ballgame.

Right.

But it's a great example of what happens when the money flow stops. That's a scary thing. Now, if you— and I talk a lot about money flow. Well, if you look at the flow of the money, it starts at the street. If we're not working and pushing our money back into the economy, we have no economy. We are the lifeblood of the economy. But if you follow the media and everything else, who do we look at as the economy? Wall Street, the Dow Jones.

Yes. Which doesn't really reflect the economy, although everybody thinks it does.

It reflects money flow. Now, here's a sobering thought that most people don't have when it comes to the asset side of the ledger. 10% of the wealthiest people in this country, the top 10%, they own 90% of stocks and mutual funds. 10%. So, if you look at the Dow Jones, it's up around 44% or 44,000. Well, take 90% of that, and that is owned by the top 10% of the wealthiest people. That only leaves how much money for the rest of us? You know, for a 65-year-old, the average account balance, 401 balance at Vanguard is $275,000. That's for a 65-year-old.

Yeah.

Right now, is that guy dumb? Was he stupid? Where did he make his mistake? He didn't make any mistakes. He's doing the best he can with what he was told to do. But the top 20 fund managers, their combined net worth is $250 billion when the guy that's giving him all the money only has $275 billion.

Right.

Is there a problem with that? Does anybody see a problem with that? So, yeah.

I see. I certainly see a lot of problems with our, our financial system the way it is built and constructed. So Bill, I want to get into exactly what you do here in a moment, but first of all, just give us a foundation here. Debt has, has not gotten better in this country. It has really exploded over the last 20 years. So what is it and why is it that, that we have gotten to this place where consumer debt continues to grow and explode, which is depleting actually the wealth of the person on Main Street?

Well, that's a very good question. And there's one of my favorite documents that I love to read. I know it's weird, but it's the New York Fed Quarterly report on consumer debt in this country. And if we talk about debt, let's look at the federal debt, $37 trillion, close to it. And they claim that that's costing us $1 trillion a year in interest. Well, if you divide $1 trillion by $37 trillion, you get an interest rate about 2.8%. So the government's paying 2.8% interest. And now the government— well, let's move to the consumers. We owe $18 trillion in debt. Now, $12 trillion of that is mortgage debt. Okay. So if you look at the bulk of the debt, everybody's, you know, okay, cool, buying homes. That's a good thing, right? But when you compare the debt The government has all sorts of things they can do to extinguish that debt. Taxes, tariffs, you know, cut this, cut that. They've got all sorts of mechanisms. Yeah.

Dollar exchange. Dollar exchange is the primary— primary way they pay for it.

But now you look at what can the public do to get rid of the debt they have? Low rate, low payment. Low rate, low payment. Right now, when you look at all that debt, $18 trillion, is that irresponsible consumers just, you know, spending at wanton disregard? No, everybody's doing what they're supposed to do. You get an education, that costs money, that's debt. If you want to own a home, if you want to own a car, you can't do anything in this country without debt. Now, you look like you're, uh, you're no spring chicken, right? Either am I. I'm 60. I was born in '64.

Right.

How many credit cards did you see your parents carrying in the 1970s?

You know, I don't know. Probably not more than 1 or 2.

Yeah. And it was a Visa card. It just said Visa on it, or it was a Diners Club.

They weren't carrying balances. I'm pretty sure of that.

No.

But, you know, and it's, you know, it's our generation that exploded the credit. Because credit didn't really become a thing until the '80s. We didn't even have debit cards until the late '80s.

Right. Right.

And so, if you look at that $18 trillion and look further into that report, the average credit score is 660 or above. That gets you just about anything you want credit score-wise. Now, how did we maintain with all that debt? How do you maintain a 660 credit score or better? You make your payments.

Yeah.

The bulk of the population's got a good credit score and they're making their payments. Everybody's doing their job. Right. And but if you— if we continue to go this route, right, because if you look at historically, I mean, remember when the bubble popped 15 years ago, we owed about $12, $13 trillion in debt. And then for the next year and a half, obviously that dropped down. Because we had, you know, I mean, everything exploded. Well, and then that's when rates fell to their lowest level. Since that point, debt has been continuing to climb about $6 to $8 trillion over the last 12 years.

Mm-hmm.

And rates have continued to climb at the same time. So, the point is, is rates don't dictate anything except cost. Who gets, who doesn't get, and cost. An interest rate is not a financial strategy. So my point is, is that why has the debt continued to climb? Because consumers are doing what they're supposed to do. We're really good at what we do. We're exceptional. Look at how many people get up in the morning and go to work. You know, look around you. Do you see cars on the— these are my, these are my economic indicators. These, these people on the Business Channel, I don't know who they're talking to. Because they're in the middle of the day and everybody's at work.

Yeah.

You know, but everybody's, you know, we're just good at what we do. But if we continue this, right, there's going to be a problem. If we break down a paycheck for the average American from gross pay, we're losing 30% to 40% to the IRS. A 401 is the IRS. The 401 is not a financial strategy. It's a tax code. So, you got taxes and 401s. There's 30% to 40%. And when it comes to making debt payments, well, that's up to 45% of their income because that's the underwriting guideline for Fannie Mae. If you go apply for a mortgage, right, your debt payments, including your new mortgage, can't be more than 45% of your income. So, they underwrite to that.

Okay.

So, if you look at those numbers, 40% off the top, 45% on debt payments. Well, that's $8,500 out of a $10,000 gross pay. That only leaves $1,500 to $2,000 a month for everything else. People don't have a problem paying for gas and groceries. They don't. They got a problem maintaining the debt.

Yeah.

And what's wrong with the debt? The debt is not the problem. It's the terms of repayment. The longer you can have 3% on a $300,000 mortgage, pretty good deal, right? 3%, that's nothing.

Yeah.

But that's still going to cost you $154,000 over the life of the loan.

Right.

Right. That's not good. I mean, that's just not good for anybody, you know, from a business standpoint. If we look at yourself, if we— I try to get people to look at yourself Mm-hmm.

Right?

Revenue, income flows in, flows out. There's not a business in the world that just says, okay, well, you know, we bought this new machine, it's going to take 30 years to pay it off. That's not— that's a bad business strategy, 100%. But we've been— the consumer's been taught, no, to hang on to that low rate, right? It's cheap money, right? Don't pay it off. And it's a tax write-off. Well, what do I do with the money? You know, with the other money? Well, give it to me and I'll put it in the stock market for you so you can be rich when you're older. Well, it sounds like a familiar message. Yeah, but the only people getting rich are the guys.

It's the national anthem, is it not?

Yeah. And so what I've done, what I'm bringing to the party is, again, I'm not helping. I'm bringing a more efficient model to bank and borrow so we, we can get more out of what we're doing. And we don't have to drag these anchors around based on traditional advice and what these other people say is the right thing to do. Because anybody that's talking to you about their money, well, they have an agenda. They don't— they can't maintain their lifestyle without money.

Hmm.

So, they're going to tell you whatever you need to hear to Get your money, which is all well and good. But I'm the other side of the coin guy because I, you know, again, I've been around here a long time. I've been doing this kind of work for 30 years. Low rates, this— I know all the advertising. I know whatever all these people are saying to get access to your money. Well, it's like with the 401, it's all well and good. However, what have you done when you pass your money through that 401 window? You've married your Yourself and your money to the IRS for the rest of your life. Because what's the difference between Social Security and a 401? Volunteer. One's voluntary, one's involuntary. So we volunteer as much as we hate the government because we don't want to pay them taxes. We give them our money in a 401 under the illusion that we're getting free money from our employer and we don't have to pay taxes today. But it's still not your money. Because you're penalized if you want it. You got to take a loan against your own money. You're going to get taxed on your money, your profits. You're going to get taxed on your employer's money. And when the market is down, is the IRS or your employer calling you and discussing your finances? No, but they're your partner in the thing, but they're not involved.

You follow?

You see the other side of the coin and you take $100,000. See, they don't talk about this stuff. You're going to put your money in here. You're going to take 100% of the risk. You have no idea what it's going to look like in 20 years, but it's the thing you need to do. Well, is that wise or unwise? Not wise to me. I'm not giving away my money like that. It's my money. And so when it comes to the debt side of the ledger, the credit side, I get it. Low rate, low payment. That makes a lot of sense. But I'm the other side of the coin guy, like the tax write-off. Right? Well, yeah, you get a— you're not getting a 10— if you spent $10,000 in interest for the year, you're not knocking that off your tax bill. That comes off your taxable income. So on $10,000 at a 30% tax rate, you're only getting— you're only saving $3,000. But you lost $7,000.

Mm-hmm.

You lost $7,000 to save $3,000. Is that— who does that? You know, you wouldn't do that on the— you wouldn't do that on the asset side. So why is it good on the debt side?

Yeah.

You know what I mean? And so again, it's just a matter of taking the tools that we already have and just rearranging their use. So you switch the— not switch so much, but you level out the balance because of the The system is so imbalanced, right? The bank— like, the banks just reported their net earnings, billions of dollars for one quarter. And why did they make— how'd they make that money? Because we gave it to them every Friday. What would happen? What would happen to the banking industry if we decided to cash our paycheck? They'd shut it. The whole banking system would go down.

Right.

And so you got to think about, well, why would that shut the banks down? Well, because you just took away their ability to leverage our money for financial gain, because that's what they do. They don't make furniture. They don't sell sandwiches. They take our money and they, they put it right back into the market. Now, when we borrow money from the bank, we're not borrowing anybody's money. But we were told we are, so we feel subordinate to it, right? We're subordinate to the lender because we borrowed their money. No, we didn't borrow anybody's money. Those are digits on a screen, right? But it's real money paying it back.

Yeah.

Right. So that $18 trillion in debt is Monopoly money. It's not real money. Because if you read Modern Money Mechanics and fractional banking, they can multiply— they have a multiplier. They can take our deposit and multiply it by up to 9. With keystrokes.

Yeah.

So you deposit $1,000, they're going to go lend 9 grand to me. I take my 9 grand and I go put it on another bank. They multiply that by 9. So your $1,000 loan, right? Or not loan, but, but your deposit, right, turned into $81,000 worth of debt. Just by making deposits.

Mm-hmm.

Right? So when you use that fractional banking, you look at the $18 trillion, that's not real money, but it's real money paying it back. So where's the real money going? Well, the real money, Jamie Dimon's got that, and anybody else running a bank. Because I've had bankers tell me they're nothing more than a hedge fund. They take money and make money. That's all they do. And so you see the lopsidedness of this whole thing. And so I don't talk away the show, this will be a great segue for your next question to say, what do you do?

That's— that is my next question. So, uh, tell us what's, what's the solution, which is—

The solution is changing. The solution is changing the flow of the money. It's really that simple. Now, when we think of flow of money, okay, we get paid, it goes into our checking account, and then what do we do? We distribute it back through the economy, right? By paying our creditors, paying our vendors, and point of purchase. Money flow, right? We are the source of the money flow.

Right.

Okay. Yeah. If we look at the money flow, okay, we're making payments and our debt sticks around and blah, blah, blah. We're not getting anywhere except the only thing we're getting is the stuff we're buying. And that's our reward. That's supposed to be our reward, right?

Right.

Well, what I do is changing the money flow is instead of it letting— well, before I get to that point, what I've done here, my program, Credit Line Banking, I've taken 3 financial strategies and combined them into one. Consumer banking, as we just described, commercial banking, business banking, they offer a sweep account. You familiar what a sweep account is?

No, I don't.

A sweep is where they provide a service. Now, your business, you know, you've got $100,000 sitting in your operating account at the end of the day. Well, the bank says, we'll sweep that $100,000 into an interest-bearing asset, or we'll sweep it against debt overnight, and then we'll sweep it back to your operating account so you have access to it. So they sweep it over. So overnight you're either earning interest on that idle money or when you sweep it against a debt, you've knocked the debt balance down, which means you're paying less interest. Now, that's a very important thing to understand because what does the consumer do to reduce their interest charges?

Number one, they pay it down.

No, no. Shop rate, interest rate. It's that interest rate that's killing you. A high interest rate, high interest rates. Well, why would a business— how do you pay— how does a business pay less interest? Just by sweeping the money because they affected the balance.

Mm-hmm.

And I preach this all the time. The interest rate doesn't cost you the money. The balance does. Because if you have a 15% credit card, 20% credit card in your pocket with no balance, you never use the card. Does that 20% scare you? No, it's just a number. When you put $5,000 on it, ding, ding, ding, now we have interest. So, we got that sweep account. And then, you look at executive-level banking. What does Jamie Dimon do? He's leveraging as much money as possible into an interest-bearing activity. The more he has in that trade, the more money he's going to make.

Mm-hmm.

It doesn't— he doesn't care about the interest rate. He's looking at what are the results based on the balance. So I brought those 3 together for the consumer. So when it comes to receiving money and paying bills, you still— a checking account, you have to use a checking account. That is the tool for everybody. Mm-hmm.

Okay.

Now, so we don't change any of that except how we pay our bills, because one of the biggest things I do for people is I help them establish bill payday. Get everything paid on one day. Don't chase all their due dates around because the due date is just ink on paper. You can get that stuff changed. And so the consumer banking, we still have to deal with that. We just rearrange things a little bit. Then we bring in the sweep aspect to where— and it's a customer-driven sweep. So the only— but the only way the consumer does that Is because you got to maintain liquidity of your money. You can't give your money away. Like if you gave— if you sent your paycheck to your mortgage company, they'll take the check, won't they? Right.

Right.

But when you need gas and groceries, you need to go apply for a cash-out refinance because you've locked— it's a one-way loan. And that's why more people don't throw more money at debt, because they know they can't get access to it. Now here comes credit line. Why do we use a credit line? Home equity line of credit, unsecured line of credit, credit card is a revolving line of credit. Well, when they approve you for a credit limit, well, that's your money.

Yeah.

Right? You can borrow, pay back, borrow, pay back, borrow, pay back, and they're not going to say boo to you unless you don't make a payment. That provides— with that revolving door, it provides liquidity. So if you put $5,000 down on any one of those today, you can go get the money tomorrow. Liquidity. Same thing as a checking account. So that's why credit line banking uses a line of credit for the liquidity aspect.

All right.

Right.

So I teach people how to get that income into that line of credit from wherever it's received, getting it into that line of credit. What happens when you push money into a line of credit, it's treated like a payment. So instead of making a $500 payment with $400 going to interest and $100 going against the debt, you send them $5,000. They still get their $400 in interest. They can't take more than what's owed for the month.

Right.

And then the remainder goes against the balance and it pushes that balance down, reduce the rate. Reduce the interest cost without having to chase an interest rate.

Right.

Does this all make sense? And then because you have liquidity, you can go get the money. Then on bill payday, the money comes out of the line of credit back to your checking account and distributed like everybody, like normal. So there's no change. I didn't, I didn't talk about your budget. No budget discussions. That's your lifestyle. A budget is a lifestyle. Nobody needs help with a budget. They just need to understand what, you know, where's the money going? Because everybody, 95% of our budget is the same every month. Because your mortgage payment doesn't change, car payment doesn't change, student loan payment doesn't change. When you go to the grocery store, your wife, I would guess 95% of the time she goes grocery shopping, 95% of the same stuff is in the basket. So even that, even though that can ebb and flow, that's very commoditized, just like everything else. And so I don't, I don't talk to people about their budget.

Right?

Grown adults, do your thing. You know, I'm just here to show, teach, help, if you will, a new model. All right. So back to the example. So the money goes in to reduce the balance and save interest, and you pull money out for your expenses. And let's say you put in $5,000 and you took out $4,000. Now, if you did that in your checking account, how much money would you have left in your checking account? Put in $5,000, take out $4,000.

You'd have $1,000.

You got $1,000 left. Well, when it's in the line of credit, that $1,000 is considered your monthly payment for the month. So instead of normal, you would have paid back $100 with your normal payment. But in this regard, you paid back $1,000.

So that reduces your balance. Yeah.

Yeah. And under this fashion, if you think about it, 100% of your income is going to be doing something for you 24/7. Because when you drop the balance leverage, you leverage 100% of your income to save interest. And then you pay your bills and whatever's left over is paying it back. So through the interest savings, let's say you save $50 in interest because you manipulated the balance. You had $1,000 left over. You just paid off $1,050 on your debt without even blinking. You didn't have to change anything in your life. You just changed the flow of the money. Now, if you had average $1,000 on a $5,000 debt, $5,000 divided by $1,000, you have it paid off in 5 months, guaranteed.

Mm-hmm.

Doesn't matter what anybody thinks, says, opinions. The math is the math. The results are the results.

Yes.

And the reason I get passionate about it is because I see it every month through real activity.

It's interesting how they try to play us. I have a line of credit and I pay more than the interest. And they're always asking me, do you want this applied to the principal or to the interest? Well, I want it to the principal, but they always are asking me.

Well, when it comes to interest, who's in control of the interest?

The bank is, yeah.

Now, how do they control that?

What the terms of the loan? Is that what you're asking?

Well, I'm just asking, and again, this is a great question that people can't answer because again, you just put yourself in a subordinate position saying that the bank controls the interest. They don't control any of it, right? The terms of the deal. When you see an amortization table, that's the terms of the deal. 30 years, 360 payments. Well, that's just— there's nobody at the bank doing that. That's just a mathematical formula that says if you borrow this at this interest rate, this is what it's going to take. And an amortization table just represents the bare minimum.

Mm-hmm.

Here's an example of that. If you had a 30-year mortgage and you wanted to pay off in 15 years, what are you going to do? You're going to go to a mortgage broker and say, you know, I want to pay this thing off in 15 years. He's going to say, all right, Allen, well, let's get an application going. That's what he's going to do. Well, if you talk to Bill, I'm going to say, make a 15-year payment. I can calculate that for you. I got the calculator and how to do it. Make a 15-year payment on your 30-year loan. How long is it going to take you to pay it off?

15 years.

15 years. You didn't have to chase rate, didn't need a new loan. You changed the flow of the money. You just added more to it. You can pay it off in 10 years, 5 years, but you've— the terms that you've agreed to are 30. You can't— nothing less than that. That's the agreement.

Right. Right.

And now how do they calculate interest? You ready for this? Balance times interest rate divided by 12. They don't— they don't affect interest at all. They don't touch anything. It's mathematical. And if you go on an amortization table, it's just simple math. Interest is not compounded. It's not front-loaded. There isn't a soul on the planet that can prove that in a calculator. Jamie Dimon of Chase Bank or JPMorgan, Chase, wherever he is, he couldn't, he couldn't calculate that. It's a myth. Yeah, it's, it's, it's— but, but there'll be people use this myth to manipulate you to do something financially that's going to benefit whoever's telling you to do it.

Right.

You follow? So the point of the matter is, is we are in control of interest. The bank is not in control of anything. They're not financial savants. When you walk into a bank branch, it's no different than walking into McDonald's. They're just there to help you order off the menu.

Mm-hmm.

They're there to help you get what you want by providing you a loan. How many of them come back and say, you know what, you just signed up for 360 payments. We got a great idea. If you don't want to make all those payments, we got a better idea for you. We have an idea. We have— we can help you get out of debt. There isn't a bank in the country. There's not a financial person in the world that offers that up.

Yeah.

Right now, the reason I bring this up, I'm not putting those people down. They're providing a service, right? They're good people. Look at the results. Look at the results. Do we—

does—

do you know anybody that wants a lifetime of debt payments? No, nobody wants it. But guess what everybody's stuck in? A lifelong of payments because they're following somebody else's advice. Well, you know, you're paying all that interest because the interest rate's too high. So rates are down, lowest rates in history. Come on in. Well, then you ask the consumer, why did you do that? Well, I don't want to pay all that interest. Well, when? And what about all the interest that you spent 5 years paying? You just spent $50,000 in interest. You only paid back 5% of a loan in 5 years. And once we refinance in that lower rate, it's like that never happened. Like it's on a— we just wash it away. But see, these are all the things that I think about that I try to get people to start thinking about and say, you know what, maybe there is something underneath that rock.

Yeah. You know, so Yeah, that's what I mean. That's what I've always done with my mortgages is always cut down the time on them. So, Bill, what service is it that you offer and how can we get in touch with you to take advantage of that?

Well, my service is a process because I'm, again, I'm dealing with individuals and every individual is different, even though everybody's doing the same thing. Because we all live in the same society. Nobody's walking on their hands to work and nobody's driving from the backseat. And so, everything starts with initial phone call. I got to get to know you. You got to get to know me because this is an invite-only kind of thing. Even though, as great as it sounds, I wish I could get everybody in, but I don't have problems saying no to somebody. And I go through a specific process. So, we have an initial phone call. And then the next phase is get online together and have a Zoom call because I have built an amortization table specifically for this strategy. So through that process, all I need to know from people is what do you owe, what do you earn, what do you spend? And I can put those into my system and then we both look at the amortization table. How is this going to play out? And in the amortization table, I can take in any Scenario. What if we have to buy a car in four years? So I've got my daughter. We got to pay for you know putting her through school. Got to buy the kids a car. So I can take all of these things into account my amortization table, and everybody has to go through it. I've never brought anybody on without going through that process, and it's not just for you guys, but it's for me because I'm not taking money from anybody that's going to fail. Because if you fail, it's my fault. Not yours. Now, if I say you're a good candidate and you fail, well, you probably didn't participate and follow instructions, right? But that's why I go through the process upfront, because I'm protecting my, my business, my reputation, as well as I'm protecting the life you're spending a lifetime building, you know? And that's a big thing. I don't tell people what to do with their money. I'm not a debt guy. I'm a banking guy. I'm teaching people how to bank like a banker. You're going to tell me what— where your life is going to go. I'm just going to help you get there quicker.

I'm not—

it's not my job to tell you what to do with your life. And then from after that, if you're a good candidate and you elect to hire me, I'm going to help you get the right line of credit for the job, or I'm going to teach you how to use what you already have. Because I don't sell loans. I'm not incentivized by loans. I'm not paid for a loan, even though I'm— I perform mortgage broker duties and I am an expert at that. aspect of life. I just don't take applications and collect documents. All right. Once we have the loan in play, that's when the real service kicks in, because now we got to talk about how you've got the line of credit. What are we going to use it for? Once we have a balance, how do we get income in? How do we establish bill payday and make sure everybody gets paid?

Right.

And sometimes, you know, there's so many variables. Sometimes everything doesn't get paid on one day. We've got outliers. But that's why I'm there. What do we do? What do we do? How do we handle this? How do we handle that? And so it's a very close relationship we have because I've got, you know, when we have that implementation meeting, you're going to get homework assignments. You're going to have a form to fill out so we can put all this together. And so, and I'm at everybody's beck and call. Every one of my students has my personal cell number in it, and everybody knows they can contact me Sunday through Sunday. Because I'm the one, I'm the one that got you into this. I'm sure as hell going to be the one to be there for you. And then through that process, I get a 6-month guarantee. And for the first 6 months, I have people send me their information so I can track and manage it in the amortization table. So you're not flying out on your own. I'm the wingman.

Mm-hmm.

And through that process, I can identify any places we need to make corrections and we can fine-tune it. At the end of 6 months, if the program doesn't work, the strategy as prescribed, you'll get your money back. If you've done everything I'm telling you, it's not working, you're getting a refund. Better yet, if I don't show up and do my job, you're guaranteed a refund based on lack of performance. So the guarantee is everything has to work as prescribed, as promised. Or you're not out any money.

Okay.

And then beyond that, that doesn't end the relationship. That just ends the guarantee period. So after the end of 6 months, that's when we kind of mutually decide, do we want to talk monthly, quarterly, biannual? Or the best answer I can get is somebody says, Bill, I got it. I'll call you if I need you. Because I'm not breeding dependence. I'm teaching people so they can pay it forward.

Yeah.

You know, teach their kids, right? Pay it forward. And I tell people all the time, like with somebody like you, you don't need my help. But kids, if we don't teach our kids something better and they follow along the same path, that $18 trillion is going to be $50 trillion with no relief.

Right.

Right. And so that's pretty much how it goes. You know, I'm the wingman. I take you under my wing and make sure you know everything you need to know. And you become a self-sufficient self-banker and you don't play subordinate to anybody because that's my biggest passion in life. Don't be a subordinate to anybody. Yeah, because nobody's on a pedestal. Nobody's better than you. Nobody's smarter than you. They just know different stuff.

Well, Bill, it has been informative having you and It's certainly an intelligent way to look at the money flow. And so viewers and listeners, you can find Bill at truthinequity.com. And if you want to get rid of your debt now rather than 30 years from now, give a call to Bill. So Bill, thanks so much for being with us. Thank you.

Can I interrupt this real quick? Can I add on to that? Because I didn't finish that. I stopped before I answered that. One thing I want people to know that's listening, I don't sell loans. I don't sell tapes. I have no products to sell. And the only thing I want out of any marketing, anything I ever do, is people just to say, I need to learn more.

Yeah.

So I always try to stress, right? Don't be scared to learn something new. You never stop learning. Don't be scared of talking to me because we're just going to have a conversation. If we're right for each other, great. If we're not, that's okay too.

Yeah.

So if you go to my website, contact us, you can find my cell number, my calendar, and just come at me. We're just going to have a conversation. Don't be scared of me. And it's not just about debt. I'm just not a debt guy because I got people using this, like I said, buy cars, buy homes, invest. It's your money. You decide where to go. I'm just going to help you get there 4 times faster than everybody else.

Yeah. Well, wonderful, Bill. Thank you so much for being with us today. And Enlightened Investors, thank you so much for being with us. And we'll see you in the next episode.

Thanks, Alan.

Thank you.

Thank you for tuning into Streams to Impact. Brought to you by Steed Talker Capital, a company empowering passionate professionals like you to develop multiple streams of passive income built on solid passive real estate investments. As a significant part of our endeavors to make a cosmic and meaningful impact for this world, Steed Talker Capital contributes significant portions of our profits to activities and organizations committed to better understanding the equine. These endeavors attempt to enhance the treatment of horses worldwide. Steed Talker Capital, working for a world where all creatures great and small flourish abundantly. If you are ready to learn how our passive investors have earned an average 33% annual return on their investments, schedule your complimentary Passive Income to Prideful Impact consultation. Obviously, we cannot continue indefinitely to offer these valuable consultations for free, so grab your Passive Income to Prideful Impact consultation While you still can. Go to steedtalker.com/passive.