Becoming Your Own Banker | How To Beat The Rising Interest Rates

Coaching is important, but most important thing is coaching from the right team, right company, right person is even more important so that they can reduce how much time is going to take for you to get to stage. Hey, has the change in interest in the marketplace impacted your cash flow? And all would say yes, it has impacted my cash flow. And then I will go on saying, I said let's rethink our thinking. Is it the change in interest rate that has impacted your cash flow or. Or is it not being able to control the banking function in your life has impacted your cash flow? Something to think about. Interest rates go up, interest rates go down, stock market goes up, stock market goes down. One thing that continues no matter what is function call banking. If you're not the one controlling it, you will definitely be negatively impacted by the interest rates from cash flow standpoint. So get to a stage where you're 100% controlling it. So if interest rates go sideways, you're still in total in absolute control and it won't impact your cash flow.

So we're here to talk about the family banking system. So what is that? Just keep in mind when you hear infinite banking concept, when you hear becoming your own banker, you hear family banking system. Those are kind of used interchangeably. Ultimately, ultimately we want to create a family banking system. That's the objective. So the family controls the banking function as it relates to your needs. And how do you sustain all these policies? How do you create a system of policies? Where does the money come from? Is it it okay with you if I keep everything tonight ridiculously simple? That's one of my primary objectives tonight. So that's one of my, one of my intentions is keep this really simple and use practical examples that you can really understand. What you're going to discover here tonight is the foundation, like how to actually get started on the family banking system. How to create or free up cash flow within the family budget by doing a process that we refer to as a debt recapture. How to sustain multiple policies, how do you expand your program and actually sustain those policies? How to put the system to work to actually start to create passive income. Two types of work. There's money at work and there's people at work. First of all, as a team, we're here to do is to educate and empower. That's what we do. As cliche as that sounds, we're not selling a product. We are coaching people to implement a process. So we first focus on education and empowering you so that you have the tools and resources and the knowledge that you need to implement the process and then we back you up with a ton of support. Nelson taught us everything begins with the way that you think. Now anytime you want to build something strong and powerful, you have to lay a really strong foundation. There is no solution without clearly understanding the problem. Nelson in his book. This is from page 15 in Nelson's book. He did a great deal of study on the average spending patterns of the average American during that time. And if you think about approximately 20%, this is your overall income. 20% of your income is spent financing cars or on automobile financing and housing. 30%, 40% spent on living. So you know, gas, grocery. Well, I'm being very generous here to say that the average person is setting aside 10% of their income. Generally people are borrowing to finance a lot of these things. They're 5% of what you earn. If you think about how mortgages are structured with heavy front end loaded interest. And people are refinancing in Canada every three to five years because they move neighborhoods or they sell their house or they, they trade up. So you're always constantly in that high interest volume that you're paying on your mortgage. So it's not about the rate, it's about the volume of interest. The percentage of every dollar that's leaving you going to interest. 35% of every dollar that you earn is, is leaving you just on interest alone. If you were saving 10% of your income, you're taking one step forward and three and a half step backwards. So we're starting to uncover the banking problem now. One of the things that Nelson taught us, there are so many things that we cannot control. There's only so much you can control through educating yourself and making the right moves. You can't control interest rates, you can't control rates of return. You can't control necessarily who's, who's leading the government, right? So there's so many things we can't control and we spend a ton of time and energy trying to control that which we cannot control. So let's just use an example here because what he was getting at is in aviation you can't control the weather, but what you can do is you can understand how it works. Let's say in this example we're trying to go from Calgary to Edmonton. We're going to use this example to see how powerful it is when you control the environment through which you bank where your money is flowing to and how you finance the things that you need in life. So let's say we're trying to Take a flight up north. I'm in Calgary. I want to go visit my teammates in Edmonton. In fact, I'll be there in October for the family banking summit. And we're actually having a recruiting event as well because our team is expanding. A lot of people are reaching out and asking how do they join our team. And we have a lot of people to serve and so we have a capacity issue so we're looking to expand and we're also having, like I said, a family banking summit. So we're going to, you know, have a live event in Edmonton where people can come in and learn how to run a family banking meeting and a lot of great speakers and I'm lucky enough to be with my team the day before all that, with my team as well. So I will be going to Edmonton. I probably won't fly. So let's say we're going to go to Edmonton. Hey, from Calgary to Edmonton. Now we get in the plane. And to keep things simple, the Calgary is where you are financially today, okay? That's what this is representing and Edmonton is where you want to be financially, okay? Think about this as in terms of where money is flowing and how money's flowing throughout your life. So we have a ground speed of 100mph but the problem is is the weather says that there's a 350 mile an hour headwind. This is representing the interest that you're paying. The 100 miles an hour is the 10% that you're saving and the 35% or the, excuse me, the 350 miles per hour pushing you backwards is the 35% interest that you're constantly have to service. So you take one step back, three and a half steps backwards, you're effectively going to Montana at 250mph ground speed, paying interest. It's sort of like not making much progress here on the Penrose stairs. Now some people say, hey, I got an idea, I know how I'm going to get around this problem. I'm just going to save my cash and I'm going to save it where I'm going to save it in someone else's bank, right? I'm going to put that money to work for some other bank. I'm going to save my money in someone else's bank and I'm just going to finance everything with cash. Because if I finance everything with cash I, you know, I don't have to worry about paying interest to somebody else. But I'm not really making any progress when I finance things with Cash. I'm just sending my money away. I can no longer grow that money. I can never get it back. So I'm losing interest on that money. I'm losing the opportunity to grow that money. That's what we refer to as the unseen. Very few people are thinking about this. A lot of people talk about lost opportunity cost, but very few people actually do anything about it. What if you were to control the environment? If you wait for that weather pattern to move right, you got the headwind, the weather pattern moves. You're going through the middle of the weather pattern now. Your ground speed is the same as your air speed. But if eventually, if that pattern moves far enough, your headwind is going to become a tailwind. So instead of having that 350 miles per hour pushing you backwards, you now have the 350 miles an hour pushing you forward. And so your ground speed is 450 miles an hour. And that's the equivalent of controlling the financing function as it relates to your needs. Having your money grow, your capital grow within your system, uninterrupted, day in and day out, uninterrupted, compounded growth, but also recapturing the interest that you otherwise would be paying to banks and third party finance companies, and not to mention the principal payments that you're also paying has a lot of power. So how much further ahead are you getting to your peers when you control the financing function as it relates to your needs? Would we like to create a financial tailwind? The whole idea is to have interest on things that you finance actually work for you instead of work against you. Have the banking function become the banker so that the banking function works for you rather than against you. So here's the truth. Just think about this as I share it. What the bank calls an asset, you call a liability. If you have money sitting in a savings account, the bank owes you that money. Which direction is the money flowing? It's pretty self explanatory. Is it toward your family or away? It's away from the family. But this is just the mortgage payment. What about all of the other things that you need to finance throughout your lifetime? See, the reality of it is, is the things that you need to finance, whether it's food or the boat payment, health care, appliances, it doesn't matter what it is, furniture, resident renovations, these things are never actually going to stop. You're always going to have to make payments. We can't change the fact that you have to make payments, but we can certainly change who's getting the money, who it's being put to work for and who gets use and control over that money. When you make a payment, where does the money actually wind up? The money gets deposited. It winds up right back in the banking system. If you're putting money in a savings account, if you're paying off debt, does the money at the bank, do they let it sit still? Absolutely not. Now they're putting the money to work, but for who? Is it for you? Absolutely not. So the problem is you're doing all the work and someone else is getting all of your money. Nelson always said you should be in two businesses. Whatever your profession is that generates income or revenue for your business or income for your family and you should be in the banking business. Banking function should be controlled at the you and me level. So doesn't it make sense to get into the banking business? When you get into the banking business and you implement the process of becoming your own banker or the family banking concept, that earlier slide that I showed you, we flip it. See, the payments are not going to stop, but we can change the direction of the flow of that money and who that money gets to put put to work for. So the solution, the solution is to become the banker in your life. Become the banker as it relates to your needs. Banking is a function and we need a tool to implement this process. Now you probably have heard of dividend paying participating whole life insurance contracts. This process has nothing to do with life insurance at all. In fact, you don't even need a life insurance policy to implement the process of becoming your own banker or the family banking concept. You have to get the right tool. We need to find the right tool for the job. If you don't have dividend paying participating whole life insurance contracts available to you, just find the best tool, the next best thing. That's what Nelson taught us. So here's how it works. We're just going to point out a few components of the tool to better understand like why on earth would we use this thing? So the first thing is, is premium. Like I said earlier, capitalize your system. Capitalizing your system is your premium. The more you put into the system, the more compounding you're going to achieve. The more you put into the system, the more access to capital you're going to have now and long into the future. So there is obviously it is a death benefit or there's it is a life insurance policy. So there's a death benefit component. The death benefit is extremely important in this whole equation. In the policy we build this equity or something called cash Value. And a question for you to think about is where do you want your equity to reside? I want my equity living in my own private system in the form of cash value. Cash value grows right from day one, every single day on a schedule. Again, especially with a mutual insurance company. You become a co owner in the life insurance company. Well, when you're an owner of a company, that company has a duty. A duty you care to put money to work to create profit and they are contractually bound to share profits with you. Dividends cannot go backwards. Once they're paid to the contract, they become guaranteed. What if the life insurance company never paid another dividend ever again? Does the whole system collapse? No, we're not dependent upon the dividend in any way, shape or form. You have the contractual authority to control your premium. There's a minimum premium and you can pay more than the minimum. When you pay more than the minimum, the more it buys more insurance. It does the same job as the, as the dividend. So the dividend, it just makes it a little bit better. But it's not dependent the policy, the process, it's not dependent upon the dividend. So now you also have contractual authority, borrowing provisions, you have liquidity. I talked earlier about being able to create more death benefit to put more premium than the minimum. So your dividend will create what's called a PUA or paid up additions, your dividends. Of course there's other dividend options, but the dividend option that we coach people to implement is use your dividend to purchase more paid up insurance. Because again, more insurance means more death benefit. Same with some of that additional premium or that optional premium you can put in it purchases more paid up additions. So think about this for a second. Something to note. It doesn't matter. This process is about what you are already doing and how to enhance it. Something you might be familiar with. And Nelson does a great job of explaining it in his book. There are always four characters in the financial play. And what do we mean by that? It means no matter what you want to achieve financially, there's always four characters. The first that you're very familiar with is a depositor. We're all depositing capital. The money has to be deposited. It's got to reside somewhere. We're all borrowers. I mentioned it a little bit earlier. We talked about opportunity cost. If you're a person who pays cash for things, that's fine, but you're giving up the opportunity to grow that money. So you're either paying interest to somebody else or you're giving up interest you otherwise could have earned. There's no way around that. It's just the truth. The third character is the banker. The banker is the one who grants you access to the money. They dictate all of the terms. Fourth character in the financial play is the bank owner. The bank owner, their role is pretty simple. They are the one who makes most of the money and rightfully so, because they're the one who owns the bank. Now the reality of it is most of us are only ever going to be two characters in the financial play and the policy system itself. And that has a lot of the attributes of an actual bank. You can deposit money into the policy or at the life insurance company and you can borrow from the policy. But if you own the contract, aren't you also the banker? Aren't you the one who can dictate the terms of when and how you access the 90% of the cash value? Absolutely. And aren't you the one who dictates the terms of repaying that loan? You're the banker, you dictate the terms and you are the sole owner of the contract. And you co own the lender, you co own the life insurance company. So that means that every penny that you pay back to your policy, including the interest, is being put to work for you. And you can access that money again. It's not lost to you. You get to contribute to the profitability of the life insurance company that you co own and they then contractually have to share profit with you. Again, I said I was going to keep this process ridiculously simple. And Nelson helps us do that because he left us from very specific rules that we need to follow in terms of how we want to set up our program. And he said, hey, you got to think long range. He was trained as a forester and he was taught to think three generations ahead or 75 years into the future. Your money has to reside somewhere. Your, your capital, your wealth has to flow and it's already flowing right now and it's being put to work. So don't be afraid to capitalize your policy system. We want to get as much into the system as we can. Don't steal the piece if you haven't read Nelson's book. It'll become a lot more clear to you when you do read Nelson's book. But essentially what he's saying there is if you're going to borrow money from the company, the life insurance company that you co own, make sure you repay that loan and repay that loan with more Interest than what they're asking for, more than what you took out. Don't do business with banks. Now, there are some instances, depending on somebody's situation, where they may decide to do what's called a collateral assignment. We're not going to talk about that today. But banks, actual banks, they really love these insurance contracts because they know that they're a very strong asset with guarantees. The point to don't do business with banks is that, unfortunately, we are unknowingly and unwillingly contributing to the inflation problem all the time when we borrow money from banks. Now, you got to rethink your thinking. I believe this was a fifth golden rule that was added shortly before Nelson passed. And I rethink your thinking because when you think you got something, when you think you really know it, when you think you've arrived, that's when you're going backwards. You got to rethink your thinking. Rethink your thinking around the banking process and the flow of money. We're going to do three case studies here. We actually don't want to pay off debt. What I want to do is I want to take those valuable assets called my liabilities, and I want to recapture them within my own policy system so that I can recapture the interest that was once leaving me and the principal payments that I was flowing away from my family. So I had cars that were 10 and 12 years old, respectively. I didn't have the cash that I needed to finance a new vehicle. I didn't have the money in my system in 2019 when I financed this vehicle for 46,000 bucks. And I also was just starting to gain momentum. I had already been implementing this process, but just starting to gain momentum within my system and just starting to gain momentum within my business. So I just needed to focus, I needed to solve this problem to have a safe and reliable vehicle for my family. And I didn't have the capital in my system to go ahead and do that. So what I wanted to do is I said, okay, let me go over the dealership and let me work something out that's affordable, but also where the least amount of money is flowing away from me, the less money that's flowing away on someone else's terms, the more capital I have to put to work in my system. And that's exactly what I did over those next two and a half years that I'm about to share about. I continued to capitalize my system and add more policies. I think at this time I had six policies in my system. We now have 12. August of 2021, my balance on the car was $34,380. And I had kind of looked at my system and I said, hey, I got the cash in my system. It's two and a half years into an eight year loan. And at this point the principal that I paid down 11,600 dol $120. So it's time to rethink our thinking about car financing here. Rethink your thinking around interest rates. Interest rates are nothing more than a distraction. You hear 3% and you think, hey, that's a pretty darn good rate. But it really comes down to how that loan is structured. Even with car loans, in a lot of cases they have heavy front end loaded interest. At the time we had six policies in our system and we'd been achieving other objectives. And I was flowing $300 every two weeks to someone else's bank. Every three weeks money just leaving my family. What I did was I sent them the policy loan request. About a week or so later the money showed up. I think the loan was actually closer to 35,000, but $34,380 showed up to the family. And then what we did was we then directed that money through an online bill. Payments actually kind of fascinating. It was a huge payment, but I made it in one shot, which was cool and it paid off. Ford Credit Canada and I eliminated the bank I controlled, now that portion of the financing function. And then what I'm going to do is get rid of that 3 or that $300 biweekly payment. And now because I'm a responsible banker, I could determine the loan repayment. So I redirected the payment right back to our family banking system. And now I'm collecting and accumulating the payment that was already leaving me. And I already had that money budgeted, right, So I can keep on making that payment and helping to sustain my program. It doesn't have to go back as a loan. It could go back as premium or it could go back as a combination of both. I could increase the premium or increase the payment, decrease the payment. I have total, absolute control. Now let me ask you a question. If you co own the life insurance company and you found out that the life insurance company was lending money to other policy owners and not charging them interest, would you be okay with that? The insurance company has a responsibility to put money to work, to grow profit, to share with us. So if I found out that they weren't paying interest or they weren't charging interest, I would not be Real happy about it. So I'm happy to pay interest back to the insurance company because I'm either going to pay it to them a company I co own that puts the money to work for me or I'm going to put pay it to somebody else anyway or I'm going to give it up by paying cash. So I co own the lender life insurance company has. Right now, the company I'm referring to has a 6.5% simple interest. So what they do is they look at the total loan principal and they look at the total interest that would be charged for the entire year. They divide that by 365 days and then we get our daily interest. So the daily interest was $6.12 times by 30 days, $184 a month. I'm recapturing that interest in my system because as I pay back the loan, I can eventually re access that interest as well. But it also helps create profit for the insurance company I co own the lender. Think about control and think about privacy. I own policies at what's referred to as a stock life insurance company stock, meaning you could buy stock. They're publicly traded companies. So that means that they have participating policyholders that they share profit with and they have stockholders that they share profit with. And who do you suppose is more important in that equation? Is it the policyholder or the stockholder? If you said stockholder, you got it. Now think about this. This mutual insurance company that I own policies with in June they vote to determine if what they're going to do with the policy loan interest rates. It's a board of directors gets together and they decide. Now this past June, over the course of the year, you know that some crazy things have been happening with interest rates. And the mutual insurance company got together and they said we should respond to this whole bank of Canada interest rate thing, shouldn't we? Yeah, you know what we're going to do? We're going to bump our policy loan interest rate from 6.2% to 6.5%. That ought to cover it. I've got policies at stock life insurance companies now. They've increased the interest rates to two to three times in this one year. Much like the commercial bank. A direct response in what's going on at the bank of Canada. My interest rate on one of the policies that I have went from 4.7. It's now 9.2. Which means you're going to see it means that they're withholding more of my cash value when I have a loan Outstanding to service the interest and giving me access to the net. Well, if the interest rate keeps going up, that means I have access to less cash. Who do you think the stock life insurance company is trying to appease? Why would they be raising the interest rates like that? Is that because they're trying to help or share more profit with the policy owners? Or might they need to increase their quarterly profits and to show their shareholders what's going on and keep them happy? Something to think about. Mutual companies don't have that downward pressure by shareholders. They only respond to one master, and that's us, the participating policyholders. We have a monthly daily cash value growth of $25 per day times 30 days. You can see right here, I have $25 a day times 30 days, minus. So what they do is they withhold the interest. We got to pay interest. So they subtract the. It doesn't interrupt the growth on the cash, but they're just withholding that capital while the loan is outstanding. So we subtract from what I can access, $184 on a monthly basis, plus I'm paying back $600 a month to the policy loan. So every time I pay $600 back to the policy system, I can go back and access $1,166. So think about this. Look at the debt side. What we're doing here is we're borrowing from the policy to recapture the debt, and we're redirecting those payments back to our system. So every single day, every single month that goes by, every time we access a loan to pay down debt, we're getting rid of the debts that resides in someone else's bank. That's increasing their net worth. And the more I recapture that debt, the more time that goes by, the more my cash value increases, the more our net worth increases. And we're recapturing all that debt so we fully control the financing functions. This next example that I'm going to share with you, talking about how to sustain multiple policies. This is a case study where we have a business that, that has trucks that they need to run the business. So truck financing. So here's the situation. This is a family that has an established bank already, a family bank. The principal outstanding on the truck financing is $32,000. They've been paying for it for a number of years. And the monthly payment is $1,000 per month. Four years is remaining on the financing. We have an opportunity to rethink our thinking. Here is the monthly commitment of $1,000, only limited to the four years? Absolutely not. What I mean by that is they have that thousand dollars already built into their budget and they're going to need more trucks anyway. Can this long term cash flow outlay be looked at in a different way? So let's think about this for a second. So again, a family system of six policies, that's more of just a visual in this case, just so you know. But what's happening is the family business is there's $1,000, just like my last example, flowing away every single month. So what this family did was they accessed a loan for $32,000 from the system and then they went and you have to pay off the banker, right? So they paid off the bank and they eliminated that thousand dollar payment. In my example, I showed that I took the thousand dollars and simply repaid the policy loan with it. I mentioned that you can do really whatever it is that you want to do with it. So this family came to me and said, hey, what if I were to pay $500 a month out of the thousand that I'm already used to paying to somebody else? Vern, I want to capitalize, I want to put my money to work. I want to compound more cash, more capital in my system. Like, do I have to send $1,000 back to the loan repayment? I said, hey, you're completely in control of the repayment schedule and you can sustain these payments. So you could absolutely use $500 a month or $6,000 per year to add the seventh policy in the family system and follow the golden rules. You know, by paying premium, you're not still in the P's by the way, but repay your policy loan. So they took $500 a month and repaid the loan with it, and they took another $500 a month and started another policy. So they got rid of the liability, they replenished the policy loan, and then they put more capital to work and expand the family banking system. So let's take a look at expanding the system and sustaining multiple policies. How is the family planning to sustain the premium for policy number seven? Well, again, they're not limited to four year window for making that thousand dollars payment. They're sending the money back to the policy, they're continuing to capitalize and sustain the existing policies they already had in the system. And they're putting more money to work. So they're going to be more than prepared to finance the next vehicle or the next major expense that they need because they're continuing to grow and compound. And every year that goes by all the existing policies that they already had are just getting stronger. The dividends are compounding. They're putting more capital in. The daily cash growth is becoming more efficient. So they're building this family bank so that eventually they can completely sustain the financing function as it relates to their needs. So that's how they're going to sustain policy number seven. Did the total death benefit of the system increase? Absolutely. So think about that. They added another policy to their system. So that means there's more death benefit. That means that inevitably one day, someday someone and all of them are going to die. And that's so they've added more protection for the family, but also created more growth and compounding as long as you're alive. And so think about what we talked about earlier in terms of the loan repayments. They borrowed 32,000, paid off the loan. They were paying the bank $1,000 a month. And you'd think, well, they want to do the same payment at least back to their own policy. So they're paying the policy back at a lesser rate than what they borrowed. They can extend the light, the length of the loan if they want to. Or they could use a windfall from selling an asset down the road, having a bigger revenue month, getting some type of a death benefit return. Right. If that happens, they can backfill that policy at any time and then use that death benefit to continue to sustain premiums. There's actually a sixth golden rule that was created after Nelson's passing. You need a place to store those large windfalls that are going to come upon my passing. You have to create capacity for windfalls. Because if you have all your policy loans paid up and you have all your premiums paid up and you come into a windfall of cash, where are you going to store that money? Of course, you could start more policies, but it's going to take you a number of years to get that full windfall into the new policies. Right. So we have to create capacity for windfalls. So two types of work, right? Money at work and people at work. So we want to put money to work. If we can use the system to recapture debts and recapture payments, can't we use the system to finance investment opportunities? Because anything that you want to do financially is a financing objective. You have to think about the financing function as you go. So this is an investment opportunity that was going to create 12% rate of return. And that's a. This is actual cash flow. It's not a growth deal, it's a cash flow deal. Here's the background on the deal. It says capital available in this system. These are people who are already practicing the concept. They'd already capitalized. They have capital available. So that means that the return is 12%. That's $12,000 divided by 12 months. $1,000 a month is the cash flow. Now, you have financing options, don't you? You could use your own capital, literally pile up money, take your cash, finance the deal. Well, if you do that, you then permanently give up the opportunity to grow that money while it's tied up in the deal. Yes, you're getting cash flow back. See, this is one of the things that's unseen. You need to think about that. But your money's not working as hard as it could be because your cash is now caught up in the deal. It's been loaned out, let's say through private lending. It's a mortgage. Now, option number two is you could borrow money. You could use your home equity line of credit. If you're not sure what that HELOC acronym, that's home equity line of credit. So you're borrowing money from your own home, the equity in your home, and you can finance a deal. Now, the third option, to rethink your thinking about the financing function, there is a third option available that will enhance your rate of return by controlling the financing function. And two, they decided to use their policy system without changing the investment objective or the capital outlay. They just changed the process. So similar situation here. I got to repurpose these slides. $50 a day is the growth. They borrow $100,000 from their policy system to finance the opportunity. They put the 100,000 into the investment. And so what's coming back to them is $1,000 per month. And so this family, what they decided to do is repay their policy loan. They're replenishing the P's on the shelf, right? They're repaying their policy loan at $1,000 per month. Keep in mind, the 100,000 bucks that they put in the deal is not gone, is it? It's going to get returned one day. So what they're doing is replenishing that money right back in their policy system so they have more capital to go and take advantage of opportunities down the road. We've got to contribute to the profitability of the insurance company, right? We got to. We got to pay interest. We got to service the interest. So take a look at this for a financial tailwind. The daily growth in the system is $50 per day times 30 days, less the interest that's being withheld plus the thousand that they're repaying. So how is this for an enhancement? How is this for a tailwind? They're putting $1,000 back in their system, but every month they can go back and access nearly 2,000. Is that increasing their net worth month after month? Absolutely. And they have access to more cash than what they're putting back into the system. So that's super powerful. So then you got to stay active, right? You got to stay in the game. See it says motivation there, advice, success, direction. You're going to have all these things not just from our team, but actually from other people who are implementing the process. We have some people who are major advocates for this process because they've solved some serious problems that they haven't been able to solve before and they understand how it works. And you know, if you want to go fast, go alone, if you want to go far, go together. That's what this is all about. That's what, that's what insurance is about. It's about common people who got together to solve a common problem. And that's what we are. We're just, we're just people trying to make a difference and building our own system and just sharing all that information with you.

It's been great journey, you know, doing this together and we're going to do some amazing things together as a team. But the key thing guys, what Ron just said, although Warren came from this line of business, he was already in the industry as a life license advisor but he had no idea about the process of becoming your own banker. First time when he got started he does, he didn't even know as he shared what it was until he got the good coaching and guidance from someone who has been practicing this for several years prior to him. So coaching is important but most important thing is coaching from the right team, right company, right person is even more important so that they can reduce how much time is going to take for you to get to stage where you're not financially free. There's difference in being financially free and financially independent. I hear all those things about financial freedom. I borrowed all this money from third party bank and I bought all these investment out this cash flow. Well yeah, you are financially free based on you have enough passive income to sustain your lifestyle. But that lever of financial freedom is actually controlled by someone else. And if the lever goes the other way and interest rates change, well, your freedom now goes sideways. And I say this to my investor clients all the time. One question that I ask them is hey has the change in interest in the marketplace impacted your cash flow? And all would say, yes, it has impacted my cash flow. And then I would go on saying, I said, let's rethink on thinking. Is it the change in interest rate that has impacted your cash flow, or is it not being able to control the banking function in life has impacted your cash flow? Something to think about. Interest rates go up. Interest rates go down. Stock market goes up. Stock market goes down. One thing that continues, no matter what is function call banking. If you're not the one controlling it, you will definitely be negatively impacted by the interest rates from cash flow standpoint. So get to a stage where you're 100% controlling it. So if interest rates go sideways, you're still in total, in absolute control, and it won't impact your cash flow.