282: How Millennials Are Rewriting the Money Rules with Infinite Banking

Foreign.

Welcome to wealth on Main street, where conversations about growing your wealth are fun and entertaining. Wealth isn't just about money. It's the skills and the knowledge that we develop to pass on to future generations. Tune in each week to grow your mindset and your net worth at the same time.

Now, not all millennials are waiting to be saved. Some of them are taking control. They're challenging old money rules, building wealth in ways where the mainstream never really saw it coming. Infinite banking might just be at the heart of it. We're going to talk a little bit about that today. Today I'm joined by an amazing group of individuals, some incredible millennials from our ascended financial team. And they're going to give their take on financial literacy, some of the challenges facing their generation. I fit into that category. Well, at least a couple of us are on the early stages of that group. And why are more young families really starting to embrace the infinite banking concept? Why are they gravitating to this to some degree? First, we've got Taran. He's a former engineer. He pivoted after the pandemic and now teaches Canadians how to take control of their monies. Making another appearance on the show today, we've got Quan. Quan's joining us again, second time on the show. His journey started through crypto, then real estate and investing, led him to learn about infinite banking. He's got a whole new clarity about wealth and control. He shares with his clients. And then we've got Paul Eichelin joining us for the first time. He's been a longtime client of IBC, started his journey in 2012, and is really dedicated to helping families learn and implement this concept. Gentlemen, welcome to the program today.

Thanks.

Thank you, Richard.

Thank you for having us. Richard.

Yeah. Excited now? I'm gonna. I'm gonna pick on Tehran here first, because Tehran, we were joking before we hit the record button that you might be on. You might be in the midst of the millennial generation, but maybe you're a little bit on the younger side than the other three gentlemen that are here. So I'm really curious. You've been serving families for a while now. You came into this in a unique format with an engineering background and kind of looking to do things differently. You're always interested and fascinated by finance. What do you think is common or unique to folks in your age group? When they're looking at their financial life and they're looking at creating freedom, what's important about it to them? And what's some of the differences? Maybe with the age group that you're in compared to say, your parents as an example.

That's a great question, Richard. So what comes to mind right away for people in my generation, my age group, is I noticed that a lot of us want to live for the present and live for experiences.

And, and so their, their approach to, to money is quite different. When they go about their day to day and their expenses, they are quite mindful on saving and setting money aside for enjoying life as, as much as just setting it aside for future quote, unquote retirement. I feel like a lot of millennials, and maybe even the Gen Zs, which is the generation after they, they want to focus on work that they enjoy doing rather than doing work for the sake of generating an income and a paycheck. So I find that the mindset is slightly different with.

Those two generations.

Yeah, I love that. I think that's great. Now, Paul, thanks for joining us here today. Excited to have you on. You've got an interesting take on this. Of course, you started now your policy system and just doing this for yourself as an individual. 2012, you've got a bit of time under your belt here as far as doing this as an individual now, helping clients as well. What, what's your take on this? You know, you, you've always been a good saver. It's something that's really important to you about setting money aside, trying to really focus on mindset and habits. Where do you see people in your category because you've have an experience in a construction background like I do, and meeting with people often in a similar, you know, age group, working and, but seeing people at different stages of life. What, what do you think resonates with folks in, in your age group applying their financial life differently than say, other generations have?

Yeah, for sure. And I, and I think I was kind of thinking about this today. Rich and you know, our generation, things financially were done a certain way for so long, right. And, and so I think with millennials, we're a little bit more like, we can, we, we have a crap O meter, right, where we can see things and, and we're gonna like actually examine it. And I think a lot of that kind of comes down to we've seen so much hypocrisy in the system. And like I think of, I remember when the 2008 crash happened, right? I remember, oh, this is the way I need to do it. And then all of a sudden this massive thing happened in the economy. Everyone's like, wait a second, maybe there's something different And I think even for myself, too. Right. That kind of got me thinking of, like, there's got to be a different way. And so I think a lot of the times, especially when I chat with people that, you know, are millennials or. Or kind of that age group, they're looking for something different just because of they've seen both sides of the coin. And. And so. So, yeah, it's kind of created that, hey, there is a different way to do it. And a lot of our generation is a lot more curious looking for those different ways. And for me, I was super fortunate. Right. I kind of tell people when I meet them, I happen to be in the right place at the right time and discovered IDC thanks in, like, 100% to you. Right. One day you showed up, Paul, read this book, changed my life and changed the life of my family and. And the next, like, generations to come.

Right.

And. And so, yeah, I think just with millennials and those conversations I'm having there, people are looking for something different. And that's a lot of. That's, you know, since I've had the honor of being able to help other families, that's what I hear a lot of, I did not know you could do this. Like, I didn't know this existed. But you can tell, like, a lot of the really good conversations, a lot of clients that I now get to the honor of serving and helping, a lot of those conversations started, like, with the light bulb going off of, oh, there is a different way to handle my finances. There is a different way that my family can prosper, and. And we don't have to follow those same. Same rules, those same things that we've been taught for however many years.

Right.

So what I. What I get in there is from battle scars to hope. So what are the battle scars that you either experienced because of market change, market shift, losses in an investment as an example? Those are the scars that start to reframe how we think. And then there's the desire to look for something more, something different. You're seeking a hopeful outcome.

Boom.

Infinite banking shows up somewhere along the line, and people are saying, maybe this is the thing that might change the game for me and give me that control I've been looking for all along.

Yep.

Yeah. And for me, one of the big ones, the big life lessons I had was people said, hey, buy real estate, rent it out. And for a lot of people, that works really well. And then I did that. A bunch of money. Then 2008 happened, and a couple properties I had were underwater. And I was stuck.

But I was fortunate. That was around the time that I found Infinite Banking and Nelson Nash, and just faithfully, year after year, put premium in the system. And yeah, 10 years later, just that consistency and sticking for the long term, like I said before, you know, changed my life and helped me recover from a lot of the mistakes that I made, you know, 15. 15 years ago.

Yeah. Amazing. Now, Quan, you have real speaker real estate. You kind of came in with a really estate investor. Looking at different investments was kind of a focus for you. That's kind of how you entered the. The infinite banking space to some degree. What do you think is, you know, your approach or the reason that you are so focused on your financial life? Is there an element of that connected to, you know, your age? Do you think being a millennial, is there something that you saw maybe when you were young, something that your parents were doing or weren't doing, that something that the world was suggesting that you do that caused you to maybe see, should I pivot? Can I do something differently than what I see out here? What do you think?

Yeah, that's. Thank you, Richard. That's a great question. And I. And I Wish in my 20s, you were knocking on my doorstep and say, hey, Quan, I got something cool for you to listen to. Going back to what Paul was chatting about a hundred percent. And I think the difference is with our age group, with. We've seen what happened in 2008, right? That was huge. That changed the world. And a lot. There was the 2000 tech bubble, but a lot of that stuff prior to that, our parents, the older generation, they stuck to a job for 30 years, 40 years. That's it. One job. And they had all these things in the past that did work out, the pensions and things like that. And then when 2008 hit and it was just like, holy cow, these people have saved up all their life inside their registered accounts. All this stuff. Now it's gone backwards. Now they've lost half, 50% or more. Where's their nest egg now? And I think that kind of started opening up my eyes. I was always interested in investments. I went to university for something totally different, got a degree in something totally different. But I've always loved finance. And it's like, because if we don't. Maybe that was the way my mind was wired. It was just like, I always wanted to learn, because all. All this talk about RSPs, what is it? And I had no idea what it was. Once I started learning about it, I said, okay, rsps, I'm going to start investing in equities and all these other things. And it's funny because my parents said, well, growing up religious, they, they told me, oh, well, when you invest in stocks, that's gambling. You're gambling, you're a bad, you're a bad kid, you're a bad Christian, right? And I said, well, think about your RSPs. Where are those? They're inequities. They're in the exact same thing that I'm doing. Somebody else is just taking control of it. And so I, so I started learning down that path. And I think that was the wake up call. 2008 was a huge wake up call. It's like what has been happening for a lot of people all their life, it hasn't, it doesn't work out. There's no guarantee. There's nothing like that. And then that's when I started learning about the different types of investment. I mean, I, I grew up, my parents had small, we were an immigrant family, but my parents had 12 doors. So I understood the real estate game. It was second nature to me. And that's kind of the path that I was working towards.

Again. But what Paul had said, that's what everybody says. Oh, invest in real estate. Houses always go up. That's what you always hear. Because land is precious. There's more people coming in. Land is precious, but there's also a risk. You assume that there's a ton of risk that people don't realize. They think they buy a house and that's it. There's the cash flow. There's so many things. So as I learned that, and I learned more about money making money versus you trading your hard time to. Because I've had toilets fly up on my face, plunging toilets, all of that jazz. So then I said, okay, let's turn limbo a different way. Instead of me working hard, how can I get my money to compound and grow for me? And that's when I started learning about infinite banking and Nelson Nash and all that stuff started to click with me because actually my, my, my path there was crypto. I was learning about crypto at the same time. And then that kind of brought in these other things like, oh, it's sound money. That's the same principles. And then I started learning about economics. And then I find in my industry that I was working prior to this, we, we made a good income. And we're all sitting around the water cooler talking about our investments and all this other stuff, and we don't realize how much money is going out the back door. That was the aha moment that said holy cow, we made a great return, 15% or whatever it is, but there's another 34 going out the back door. So are we really ahead? And I said okay, I need to focus my time to learn about this because this is what's going to propel us forward. The tailwind that Nelson talks about.

Got it. Headwind, tailwind. It's interesting, you know, all having different experiences and backgrounds but all now being kind of bonded over Nelson's concept, Nelson's message. And I recognize of course, the 2008 was a pivotal time for everybody. It's unique to think about where we're at at those different stages of life. And you know, similarly, you know, you brought up the tech bubble. Okay, so if we go back to the early 2000s, there was another major hiccup. We had tech bubble burst. We also had 911 shortly thereafter. All those things kind of, you know. And I remember at the time when 911 happened, I was working as a third year electrician on a night shift job in Edmonton and I was just finishing my shift when all that came about. I ended up staying up watching all the news of course when 911 happened. And so those are pivotal moments. People remember where they were when these things happened. And you know, the, the, the generation we're talking about spans a fair chunk of time as generations do. And so yes, there's similarities amongst these generations but there's also a lot of difference when you get into the kind of micro levels of the years relative to what was going on with him. And I think about, you know, let's project onto the, the Gen Z and, and what's coming afterward. You know, you think about 2008, we're what, 17 years roughly past the, the game. We're moving closer to 20 years from that time frame. Yet it seems fresh in my mind when it all happened, as I'm sure it does for you guys. But imagine now someone was, you know, they're, they're in their 40s and they've got young kids are in their 30s or four months and they've got impressionable kids that are 10 years old. You know, they're in that, you know, adolescent stage moving into teenagers. When 2008 happens and they get their investments wiped out, what's going to happen? What is the thinking process of those kids as they become adults? Are they looking at a little bit more conservative portfolio? Are they looking at things like, you know, I really don't want to have my money tied up in the thing that, you know, caused all that stress in the household when I was growing up. How do you think it's showing up for them now, looking at life differently, especially from a financial standpoint?

So I can, I can quickly chime in for this one. So I'm going to take a sidetrack and talk about the importance of parenting in a situation like that. Afeel, that's where you know the conversations about money and finances. How you have those conversations around in the household, especially in a time of crisis, is extremely important. And I share that because I was probably a teenager when the great, the Great Recession happened in 08. And so I, I didn't have anything invested, but I'm sure my parents went through something, but I didn't notice that. Right. So I, and I think it's because they did a good job of, of protecting or shielding it from me so that I wouldn't see whatever impact that may have happened. I don't know if there was. If there was a drastic impact or not, which I think is a good thing because it now fast forward many years later to today. I don't think that has impacted me as much personally on a subconscious level, if that makes sense. Where when I approach my personal finance and managing my money, whether it's investing or practicing Internet banking, um, I, I try to learn from the lessons of that and, and have a objective view over any crisis that happened. For example, when Covid happened, I was able to. To put an objective hat on and assess what needed to be done in that. In that. In that. In doing during those years without having to do it from a place of fear.

Yeah, makes sense. I appreciate that. And I think that's a key element that you bring up TRON with fear. And that's my acronym for fear. And there's many of them out there. Is future events appearing real because you can't fear something in the past. You can only fear something that hasn't happened yet because there's a projection. But what we do is we take past experiences which we have an emotional connection to, and then fear is that response of now projecting that past emotional connection into this thing that we think might happen or the possibility of a future. And, and so you, you just can't simply fear the past because it's already in the past. You can only drag the feeling of it into a future event. And people who have been stung in the marketplace, whether it's the real estate market up and down like. And you know, in Ontario right now, we had a Massive bull run. But of course, we see values slipping, interest rates go up. There's a lot of people who, depending on the timing of when they purchased rental property or their own property, they're underwater financially. Paul, you mentioned that you experienced that in 2008 and the few years that followed it in the Alberta marketplace. I also experienced that fact. I. I still have. I've got a Property today in Fort McMurray that at one time, at the peak of the market In Alberta, roughly 2007, it was worth about, you know, $235,000. I'd be amazed if I could sell it for $40,000 today. So, you know, there's a pretty big gap between there and that has to do with multiple. A multitude of economic climates that happen in a geographic zone that were completely outside of my control. You know, oil price changes, 2008, crisis happened there. There was some government shifts in the Alberta province. There's government shifts and impacts from a federal level. All those things have.

Like a pressure cooker pushing inward on the community of Fort McMurray. In the time frame that I've owned this property, which is now over 20 years, you know, I haven't really, you know, granted, I did take. Do an equity takeout and pull all my original capital out. So technically it's a free property to me at that stage of the game. But nevertheless, if I wanted to exit it today, it's very difficult to do so. So, you know, looking at that vaster, wider expanse of time, that feeling of being a pressure cooker and what happens, it starts to form and prepare you for how you look at things moving forward. They say that age produces wisdom. Well, not really. What produces more wisdom is the whip cracks on the back that you get over the span of that time of age. So you have the experience that you can reference in relation to new information that's coming at you with the stage that the millennial generation is at now. As they're getting older and moving through time, they've developed and accumulated a large degree of that knowledge base, and they're watching their parents transition into retirement and different phases of life where they're starting to see things like generational swap take place. You know, people passing away, there's. There's transitions of legacy value taking place. They're seeing problems with probate, problems with not having a will. So there's a whole host of things that they're experiencing at this stage of the game that they probably hadn't even considered before. You know, quantum curious. You know, you and I are probably on the slightly older track here. And then I think we got Paul and Tron. If we were to do that, do an age gap, what comes up for you when you think about that, looking at that, the future generations and what millennials are experiencing as their parents and grandparents are experiencing different life events at this stage of the game?

Yeah, that's. That's a really great question. I was thinking about something with your other question that you had asked, but to talk about this one, it kind of ties in with what I wanted to say. Our generation is very. Every generation has very different things happening, right? But our generation is when the Internet, YouTube and all that stuff just blew up like crazy. And that's given us so much more leverage than the generation prior. Because when you think about all the stuff that we've learned, Richard, I'm sure you've done, you're an electrician, but I'm sure you've done plumbing. You've done everything yourself because of YouTube and learning all these different skills that our fathers and our parents had to go to the library, flip through a book and try to figure it out themselves. So our generation is very different because we have a different set of tools to be able to use and pivot and move forward, and that's also ingrained different skills for us. It's like, if somebody else can do it, I could figure that stuff out. Right? And that's kind of the difference with our generation. We're very resourceful to be able to accomplish things. And, and so, and when you're talking about, like, kind of the difference, learning about the next generation, learning about probate and all that stuff, before, people would just talk to friends and try to learn it, but now we have this trove of resources. Let's learn about probate. What's the difference in probate between each province? We have access to all that stuff. So it gives us a lot more knowledge and gives us a lot more, I guess, ammunition to talk to an expert and to learn how to do things properly. So, yeah, that's. That's, that's kind of the difference that I see with our generation versus the older generation moving on and things like that. And now just having kids, we want to be able to pass this on to. Because our millennial generation at the cusp, we're in our 40s, pushing that down to the next generation. We don't want them to be useless. They need to be able to learn these other skills that we have so. So that they can grow up and do the same thing. And Be better than us, because now their generation is going to have AI, which has been incredible, pushing forward everything else that. So it's going to amplify whatever that we've been able to accomplish.

Yeah, I love that. The different set of tools, that makes so much sense. Great point, Quan. Now, Paul, you know, we talking about a little bit about, you know, doing plumbing work or doing some of the different construction elements. You know, that's something that I certainly have had my fair share at, and I know you have as well, Quan. I think, you know, being a. Knowing that your Colby is a reasonably high implementer, you need to get some of that physical element in. In fact, I'm pretty sure you're recording this in a, In a. In an office that you built yourself, which is great. But if we think about the, The. The changes of those tools, the Internet, specifically, the access to information, YouTube as an example, access to information. There's so much information created, uploaded, available to us on a daily basis. There's a lot of huge advantage that comes with that. But there can be some disadvantage as well. So in relation to thinking about your financials, learning about different concepts and strategies, there's a ton of elements there that can be hugely advantageous to learn and go really deep and granular into a subject. If it's bitcoin, cryptocurrency, you know, dividend stock portfolios, you can really zone in on a specific sector. But are people doing that? And what is some of the risks of having all that information? So, Paul, I'm kind of curious from your standpoint, just because we have it all, and it could be a huge advantage, there also could be some disadvantage. What are the disadvantages you see for people leveraging that and maybe, maybe not doing it to their maximum advantage? Is it, Is it the questions that they're asking, is it. Is it the caliber of how they're. They're inquiring for what they're looking at? What do you think is some of the challenges? There's.

Yeah, and that, you know, that's, That's a great, great point. And it kind of just got me thinking too. Like, we've been talking about, like, the different generations, right? And so I think back. So I, My, My parents were older when I was born, so my dad was actually, like, alive during World War II. He was pretty young in World War II, so he was a lot older when I was. While I was born. So I actually grew up with that experience of that, you know, that we gotta conserve, we gotta preserve. We, you know, we Use everything we can. We don't buy anything extra. And so then when my generation came along, those millennials, it was like Quan, we had, we had different tools, right? Like Quan's talking about. And I remember when I, when my parents or that generation had to go do something, they had to go talk to somebody, right? And sit down, go to the library, whatever it might be, our generation got to just go on the Internet, right, Rich, you talked about learning those skills. The first house I ever renovated, if I didn't know how to do something, I went to YouTube, learned how to do it in 20 minutes, went and tested it. If I sucked at it, I called my buddy to come fix it, right? If it was good enough, it was done right. So that's how I got through those things. And I kind of think I have a 12 year old daughter and a two and a half year old daughter now. And so I'm looking at those tools that she's using, right? The, the chat GPT and there's so much benefit to it, but I think it's almost reverted where. And, and, and maybe this falls in line with your question, Rich, but it just kind of was what I was thinking. As you're sharing there, it's reverted back to almost like the tools my dad had where now my job as a parent, my job with my daughter is not to teach her everything, but to guide her and to point her in the right direction of the things she's learning, right? Because she doesn't need to ask me any questions, she just goes chatgpt, here's the answer. But whether it's on the Internet or ChatGPT, it's probably not always the right answer. And so it's been cool seeing then transition of those different tools, but also like you're talking about, there are some downsides to what are happening. And so, you know, if my daughter goes on, she doesn't have social media, but one day she will. And when she's listening to TikToks of financial advice.

That'S not always going to be the best advice, right? And so I think that's, that's a huge, huge thing I think for, for us passing on those things, those tools and those skills to the next generation, it's not the amount of information, it's the right information amidst all of the noise, right?

So what you're saying is maybe 30 second financial advice isn't all it's cracked up to be.

I don't Recommend Scrolling through 78 different TikToks and taking the financial advice you need from that.

I think it's really cool what you said there, of course, the breadth of experience from your father being older. I have a similar situation there to some degree than, you know, you having kids at different ages and stages of life. So you're also looking at it from a lens of what's happening with the different, you know, a 10 year gap between my own kids in comparison to the gap between myself and say, my father. And so there's, there's a uniqueness that's there and time is this great leveler because we all might have a similar experience on the amount of time that we have on a planet, but because we're moving through time and there's different elements happening for all of us, we all come away with different contexts and different experience. So here's, you know, when I think about the, whether it's Internet, YouTube, etc. We often meet people who are coming to learn from us. They book a meeting, they book an appointment. They're trying to engage and understand infinite banking. They saw a YouTube video, maybe it was one of ours, maybe it was someone else's. And there's, or it might have even been a TikTok somewhere. There's as much information that might be confusing or, or potentially misleading out there as there is that's advantageous. So Tron, I'm curious from your perspective, when you think about that, specific to the infinite banking space, the people that we're meeting with and that you're, you're kind of connecting with on their early stages of the journey, are you seeing elements like that where they've got these great tools, as Quant had indicated? But just because we're asking a tool, a question, sometimes you, you know, there's an expression garbage in, garbage out. If you ask a garbage question, you're going to get some garbage responses like, do you think there's some of that going on as people are trying to learn about this concept in their life?

Oh, 100%. And I think being able to decipher misinformation is a skill set and it's something that everyone needs to develop. And I feel like the millennials and the generations that grew up with the Internet and social media, as you gentlemen mentioned, we've gotten better at doing that. And so I definitely see that with some of the prospects and clients that I interact with, where some of them are very good at determining how to decide who to get their information from and what we share with our prospects and clients is when specifically to the infinite banking concept and learning about that is to learn from someone who's practicing this themselves, who has the credentials with, say, the Nelson Nash Institute in being able to teach this in the right way. Right. So, and I feel like the ones who know how to look for that, who know how to look for.

Prompt, put in the right prompt for the search in Google as an example. To give you the right links in the websites to search through is extremely important. It's a skill because sometimes you may put in a certain word or keyword and it may give you information or links to sites where the information may not be fully accurate or may come from a source that doesn't have the same credentials as someone who may be practicing this process or part of the Nelson National Institute, as an example.

Yeah, we don't have the same Encyclopedia Britannica physical copies that I know was an element for research when I was a kid, you know, you literally had to go and like, oh, well, all the information that you need to know was in this giant series of, you know, 25 giant volumes of books. And you got to flip through the index and find the thing. And so, so that's how I grew up recognizing where you would find information. And of course, now again, with the Internet and what you're inquiring and even on YouTube, YouTube just being a massive information source and you can find virtually information about anything. If you want to learn how to beat the boss at some video game or you want to learn how to, you know, again, wire your, you know, wire your house electrical, all of these things are available at your fingertips. But there's probably, if we looked at wiring your house electrical, if there's 10,000 videos about that, I guarantee you there's going to be some where if you try what that guy does, you might end up zapping yourself and maybe he forgot to mention something about, well, make sure you turn the power off first or make sure you do this, you know, so. So you have to take everything with a grain of salt. So I think the radar, you're. You're. Like you had said, you're trying to develop that. That radar to be able to interpret and disseminate is this good information or not good information? And so there's an element of that that's become an absolute necessity. Everyone's needed to have it. But the degree to which you're finding trusted resources. It used to be that the news was trusted resources. So for folks in the generation prior to the millennials, they relied on the news as the trusted resource. I think there's a lot of people in the millennial category and beyond that are much less interested or even prepared to accept the news, quote unquote as the trusted resource. And so they're, they're having to rely on themselves and that, that internal, you know, evaluating mechanism to determine what is a trusted resource before they delve further into it. That's kind of how I interpret it. What do you guys think about that?

Yeah, I was just going to mention on that. Maybe, maybe I use a different term. You got to have a BS filter to go through, right?

Yeah.

And that's, that's going to be harder and harder. Like for our generation, it wasn't that bad, but it's getting harder and harder to filter through that because of all the AI that's coming out that's going through. Like just an example, I was talking to somebody who was older. They're oh, did you see this, this news article? Blah, blah, blah. I look at it and I can distinguish right away that's, as Trump would say, that's fake news. This is not real. Like the, the, the cgi, you could tell, we could pick it out. But now it's getting hard and hard, so we have to get better. And talking about our kids, kind of, that's, that's, that's a whole new skill set that they're going to have to learn is to be able to filter out all of that BS that's coming in. Because like Nelson said, put, you got to put on your noise canceling and you got to figure out which is noise and which isn't. But kind of talking about like what Taran was talking about, filtering nose. Sometimes it also depends on the person's stage in life because the advice that they get when they're younger is very different than they're at this stage in life or the advice that they get when they're, when they can't save money financially, there's somebody out there that's really good to be able to help you to save that money. But once you create that skill now you have to level, you have to, it's like going through the next level level until you meet boss level. You have to get a different skill set. Now it's capital preservation and now it's capital growth. First it was just, can you save money, change your habits to save money. Now we're building this and then it's generational wealth. Once you get to a certain stage, now it's a legacy. So there's so many different things. And having the right person to guide you and walk you through each of those stages is very important. So somebody might be good at that stage, but they're not good at this stage. Something to think about.

I feel like you just turned financial learning and education and the infinite banking concept as you develop over time into an rpg. So basically you're Zelda and you have to learn how to go and get, you know, you got to be able to master this sword and you know, you got to store and stockpile all your items so that when you, you go to more complex and more complicated levels or areas, you have the items that you can call upon when you need it. And you're always building and developing the skill set so that eventually you can get to the final boss, whatever that is. And, and in life, maybe that is, you know, retirement or passive income time or maybe, maybe it's some other element of your life and you're basically, you're in your own, you're the master of your own role playing game. And what resources are you picking up? How often are you avoiding having to completely reset the game? Are you saving your, you know, are you saving along the way so that you're storing that knowledge someplace and building up and building up your skill sets? I think that's a pretty good analogy. I like how you put that together.

100% because I, when, when I respond for my game, I don't want to go back at the beginning. I want to start here. And that's what IBC is about. When you respond, when that rainy day fund drains because of some life happens, something's going to happen. So you get to respond with more money or you can respond with not a lot of money.

Makes sense. Well, guys, this is a ton of fun. I'd like to get a final thought from all of you. Paul Eichelin, I'll start with you. When you think about again, whether it's millennials or something you just want to share to anyone listening in today, what's the final message you'd like to leave them with?

Yeah, and I, and I think Quan Quan kind of hit it on the, the nail on the head there is, is especially with our generation, it's like who you take advice from matters, you know, it's, it's, there's so much information out there. There's so much things going on, right? Like think about AI. Who would have thought that being a prompt engineer for AI would be like a job, right? Something you could do. And it's, and it's learning how to cut through the noise and ask the right question, right? Is so important. And so I think that's kind of just the last thought I'll leave here is who you're listening to is so, so very important.

So be the prompt engineer for your financial life is what you're getting at. Okay, got it.

100%.

All right, Tehran, let's swing it over to you.

Yeah. So I'll start with a quote that is used at least in my millennial circle. It's what a time to be alive. Right. And you want to take advantage of this time that we're in, where we have all these tools available to us, like the Internet, social media, and now AI, and use it to enhance your life in every aspect of it. Right. So going back to infinite Banking, you want to learn more about it. There's every resource out there for you to be able to learn about this and see how it can help you in your life. And to Paul's point, as you consume the resources, make sure you're getting it from a source that is reputable.

Love it.

All right, Quan, take us home.

Yeah, I'll take you home with another video game, because that's what we're going to talk about. Same like, again, I love what Paul said and what Taran said, but when you think about all these resources, 100%, get your. Get that BS filter going and connect with the right person. Because when you're talking about it, you need somebody to help you along the way. Doing something alone sucks. That's why two players, you can advance a lot farther inside that game. And exactly. That's what we're here for, is come to us, chat, we'll give you clarification, and if it doesn't fit you, then, yeah, that's absolutely fine. You have clarity. But if it does, then you have somebody to help you along the way.

I love that analogy. You know, they. They design and make multiplayer games intentionally because people want to play either on a team or they want to play with someone else. There's. There's a natural tendency that we want to be surrounded by other people. We want to fill ourselves up with camaraderie and communication and connection and then bond over something unique and connected. Well, that exists in the infinite banking space as well. That's why we have a community. That's why we have our Facebook group community. That's why we have quarterly group coaching sessions. You know, today we're recording this on a Friday. I had the pleasure of jumping on with a number of our teammates doing a Friday kind of lunch and learn session. Amazing questions were asked we're now offering that, you know, typically every week. So there's all these opportunities to get involved in connection, camaraderie, community, constant learning, constant growth. So you can build your confidence around different areas of your financial life, certainly, which could include the infinite banking concept. So make sure you're tapping into those resources. If you're watching this here today and you're on YouTube, of course you're going to see another amazing video that just popped up. Might even have one of these fine gentlemen on it. Go ahead and click that and continue that epic journey of learning. Like Taron said, what a time to be alive.