Don't Leave Cash To Your Grandchildren, Leave Them a Bank!

It's not as simple as saying we get a legacy because, you know, we've taken some of our money and our resources and our equity and dollars and we've transitioned it into an insurance policy to a grandchild. Well, no, what you've really done is you've created a ripple effect where now the parent and grandchild can use that policy and eventually there will be a tax free death benefit that's paid. And now a great grandchildren, a future generation that doesn't yet live today can be positively impacted by the decision that you make as a grandparent now.

Yeah.

All right.

We are joined today by my good friend Roman.

Roman and I had a nice conversation earlier today and we thought wouldn't it be fun to talk a little bit about one of the greatest gifts that you can leave a child or a grandchild? And when we're doing this amazing work that we are blessed to do, or we're teaching the infinite banking concept to Canadian families, we're embracing the coaching, mentorship and the learning that we've been able to be so blessed to receive by the late, great R. Nelson Nash. And of course his incredible book, you know, Becoming youg Own Banker. We, we often are communicating with folks that they'll mention something to the effect, oh wow, I wish I could get my kids involved in this or I wish I could get my grandkids involved in this or you know, I'm learning about this later on in life. Is there some way I can impart this knowledge onto the next generation? And so obviously we have a lot of great video content that helps do that. But another way of doing it that's even more, more powerful is to embrace the concept and start the process, start the journey by helping those family members understand how to utilize the tool, by getting them the tool. And so we have grandparents often who want to set some capital aside for their grandkids and their, their amazed when they find out they don't have to die to go ahead and start that process. They can begin to share this inheritance and idea with their family members on an earlier basis and get to see the value of what it creates before they themselves are gone and it becomes really interesting. So you know, Roman, you've got a lot to share on this topic and I think there's some recent examples of this even happening maybe in your world and with some, with some clients. So talk to me a little bit about your thought process on a way to set this up, this legacy value up using par whole life insurance in a strategic way from the vantage Point of example of a grandparent.

Yeah, sounds good. Thank you so much, Richard, for letting me share. I just had a conversation with my client and he actually asked me how would they, a grandparent, set up something for a grandchild in order to have them going on infinite banking and make sure that not only they receive some legacy from the grandparent, but this legacy is working and it is not being.

Spent or squandered or anything else. So instead of leaving them cash, is there a better way? And of course there is a better way. Right. So if you want to set up something with infinite banking, even when the child is born, the child is small, like.

We all know that you can set up an infinite banking policy when the child is only like 15 to 30 days old. You can start the policy going and then why it is important because the child is very little and you can make sure that she or he has protection for life. And regardless of what happens later, regardless of the health condition they may develop, we all, you know, live on planet Earth, we're all human, and only God knows what's going to happen. Right. But if you put a protection in place early, then this protection can be for life. There's a couple different scenarios we can look at. One of them is, you know, a gift from a grandparent for a small baby.

Instead of giving them cash, they can basically pay for their insurance. And we looked at, you know, life pay designs, and then there's also a 20 pay design, which sounds like a great idea. So by the time the person turns 20 or 21, if you will, it depends on when you set it up.

Right.

So the policy can be paid up, meaning that the policy doesn't need any more premiums going in. Right. Of course, if it's a LifePay design, you can also do the same. But the young person at 20 years, 20, 21 years old can or cannot, may or may not pay this premium moving forward because he will be the policy owner, he will be responsible to make those payments. And yeah, so we basically look at some, you know, scenarios where one would pay for the, for the grandchild for mail for 20 years, and again, we don't know how long the grandparent will live. It can be a one lump sum, it can be basically prepaid and put it on a specifically designed account. And then from that account it actually can actually be transitioned every year into the child's policy.

I think we'll maybe tie into that example at the end. And really what you're identifying, Roman, is that especially for folks in the Grandparents stage. And of course, you know, people are becoming grandparents at many different ages. There's grandparents who are in their late 40s, you know, and then, and then you've got grandparents that are of course in their, in their mid to late 80s. Like you have people in these different ranges. So it depends on where you're at. I know for myself I've had children a little bit later in life. So you know, my, my parents, you know, I, I anticipate that, you know, I'll be the old guy showing up at all the, all the, you know, school functions as my kids go through, go through their, their, their various years of schooling, et cetera. But you know, to give people a reference point, there's a really important chapter in Nelson's book called An Even Distribution of Age Classes. And it starts on page 71 and, and on page 72. You know, Nelson has a really cool kind of drawing here where he's highlighting some of the key advantages of doing exactly what you're speaking to. Roman. This covers multiple generations and promotes long term planning. The underwriting problem. So there can be underwriting problems with the health insurability as we age, as we age and we encounter more of life and life's activities and hey, some of the probabilities of us no longer being insurable tend to increase the longer we go. Whereas the earlier you get insurance on a child, you minimize that. And I want to come back to that point and speak to that in a moment. The tax free buildup of cash values over a long extended period of time are very powerful. The outlay is very small in comparison with the ultimate capital ability to use capital. The generation paying the premiums can most easily afford them. I don't know too many, you know, six month old infants that can pay their own premium, but you know, I know a lot of 60 year old grandparents that can pay a premium for them. Okay, yeah. And then the key thing again is ownership. So as a grandparent you can maintain ownership of this policy or the system of policies you own and control it and you choose who the who that will become the owner when you're gone. So when you naturally pass away or even while you're alive, you can transition in a tax efficient manner. It's a very, there's, there's no tax consequence in transitioning insurance policies to the, to the generation below them. So if again, I'm the grandparent, I own a policy on my grandchild, I can pass that to my own child who is the parent of the grandchild and then My own child at a later date can pass it to the grandchild eventually so it can go through that transitionary phase while maintaining control over the asset over an extended period of time. When death benefit occurs, the system becomes self sustaining, promotes understanding what stewardship is all about. You know, so there's, there's a variety of things happening here. There's passive income that can be created for the grandchild or even the parent. So there's, there's multiple generations of a family that are positively impacted by this decision. So when we talk about creating a legacy, it's not as simple as saying we get a legacy because, you know, we've taken some of our money and our resources and our equity and dollars and we've transitioned it into an insurance policy to a grandchild. Well, no, what you've really done is you've created a ripple effect where now the parent and grandchild can use that policy and eventually there will be a tax free death benefit that's paid. And now a great grandchild, a future generation that doesn't yet live today can be positively impacted by the decision that you make as a grandparent. Now that is the most powerful multi generational impact that I can think of. You know, you think about people who buy investment real estate and great to do that. Lots, lots of valuable in buying investment real estate. But it becomes very difficult to transition investment real estate down over multiple generations. The house needs repairs, you have to sell it. You're transitioning those assets out, gains, capital gains, deferred maintenance. Even when you, you start using trusts. Well, the trust has to have a deemed disposition, taxable event, you know, roughly every 21 years, depending, you know, so there's, there's all these other associated things that must go on. Whereas it's just so simple, so ridiculously simple to set up proper insurance protection with cash value accumulation on a child at a very young age. And here's the other thing. I want to talk a little bit about the underwriting problems because every once in a while we do run into an instance where a child, we can't get that child insured. There's things that happen earlier on in life with kids, and so the earlier you can insure them, the easier it is to make sure we've solved that problem. And you can add these little options or little extra options you can put on a policy. Every insurance company calls them something different. But you know, one of the companies we use, they call it a flexible guaranteed insurability or it's a guaranteed insurability option which Gives you the ability to flip a switch. You pay a small amount right now for an option to turn on another insurance contract regardless of health status or health insurability of that, of that child at a future date. So, so powerful. I have those available on my own children. I'm blessed that I do that. I have most of my clients have that available. And in fact I personally have a rule that if you're not going to put that option on a policy with your child, I won't help you set it up because I just, it's so critically important to have that in place. And in fact I have one of my clients, wonderful gentleman, know one of his daughters unfortunately has developed a type 1 diabetes and that happened years after we got a policy in place. But because we built in these guaranteed insurability options, that child will be able to kick in extra insurance so that her future family can be properly supported and she doesn't have to worry about the uninsurability nature of that, of that potential diabetic situation. So you just never know when these things are going to come up and cause a problem. And you know, even in a post kind of pandemic world, we're also starting going to, if we're not already learning, we will likely see, I'm just making a prediction, like it or don't like it, that we will probably see maybe some future, you know, mental health related issues, you know, maybe some depression, some, some psychological impacts that come out in the future for the lives of children that have gone through that experience. And if that does happen, that could create a negative impact on insurability at a future date. So you're always better to get the insurance now. You want to be looking at it, not wandering around looking for it. Does that make sense?

Exactly. Yeah, exactly. So it's not only cheaper to do it now, but it also.

Protects your insurability. I mean your child's insurability.

Absolutely. In a huge way. In a huge way. And I just got new policies on my kids literally just they like in the last two months and I didn't add new insurability riders on them because I actually already have them with two other companies. So I think I'm pretty well covered from the guaranteed insurability aspect. And the amount of, the amount of coverage that they'll have by the time that they're 25 years old is already going to be a pretty substantial number. So that's the other thing. This is another thing. So I, I'm really glad we're on this topic. And we're going to get to the example in a minute here, Roman, but this is something that we learned from, from actually Nelson. Before Nelson passed away, he was getting policies on his great grandchildren and, and, and that the great grandchildren were being born. He'd already gotten policies on the great, on the grandkids. Now he's working on great grandkids. And I think he had set up a policy on his, it was his, maybe his sixth great grandchild before Nelson passed away. I remember he sent me a pictures of some of these grandkids as this was happening. And Nelson would get the policy started and he would fund it and then he would transfer the ownership right away to, to the parent of that child because he didn't need the policy. He just understood exactly what he wrote in his book here, the even distribution of age classes. He just like, look, I can't take, he said, you can't take this stuff with you. You know, my, my revolutions around the sun are limited. I can't take the money with me. I might as well transition it while I'm alive and I get to see the benefit and have that feeling of, wow, look at what I was able to accomplish while I was still here. So that was really important to Nelson. But here's the problem that they realized when they were trying to get a policy on this, on the great grandchild. So the parent was trying to get a policy, the, the grandparent was trying to get a policy, and the great grandparent was trying to get a policy. That's three policies. So the total death benefit started to become a problem. It was difficult to get the life insurance company to approve that much death benefit on the child.

The limiting factor.

This is really important and if anyone's watching, I want you to take this away. The limiting factor was how much death benefit was on the parent. So whoever was the parent of this child, if they didn't have enough death benefit to support getting death benefit on the, on the child, then you couldn't put as much premium in as you wanted. And so what they realized is if we had loaded up more on the parents, we could create more capacity on the grandchildren and the great grandchildren. So that was a great teaching point that I got from Nelson. I would have never considered and they never considered until they were at the stage where they were encountering the problem, if that makes sense.

Yep. Yeah. And you raised a great point in regards to the guaranteed insurability option. So we probably all know that the children cannot get a term insurance in place. Right. Or term insurance Rider and then the guarantee. So one of the attributes of the term insurance is that you can guarantee so you can renew it guaranteed. You don't have to qualify if you don't drop the insurance once it expires. If you don't drop it, you can guaranteed renew it regardless of your health. One of the attributes is not available for the juvenile policies. Right. But the guaranteed insurability rider works kind of the same way where it protects your future insurability. So it takes care of the future insurability of the child regardless of the health condition he or she may develop. So it's kind of, kind of additional option in replacement of the term insurance which is not available for the children.

And I have had issues with again some kids being uninsurable and having to try to try to get the insurance from different insurance carriers. And I've also had a situation where both parents were uninsurable and therefore they wanted to do a lot more on a child, but they were limited to what they could do. And it also created some underwriting challenges even with the child because of now a family history. So there are things that you know do happen and they may not have happened to you if you're watching this. But just understand that we never know when our insurability is going to be taken away. We just have no idea. And even now people, they're experiencing these things they refer to as long Covid symptoms. Well, long Covid symptoms could have an impact on something like insurability. So just really important, make sure that we you protect your loved ones. The sooner you do it, the better. And this example that Roman's going to walk us through is just one way of where the grandparent in this example is, is creating a legacy outcome by design where they're funding for a 20 year period a policy. Now even if they only funded it for 10 years, still going to be fantastic. And that policy will high, high probability. As long as it's designed well, it'll be able to operate itself from that point on, but it just won't be as strong as if you funded it for a longer period. So with that in mind, I think it's okay that maybe we hop into our example, Roman, and let's walk them through the idea that you kind of have here and how some people are completing this and making this a reality.

Yeah, absolutely. So, so we have an example of a grandparent taking a policy on a male boy 0 years of age, meaning just a newborn. And the premium they want to do is 3000 per year, meaning that they have about 60k.

Cash, they wanted to kind of gift to the grandchild.

But they didn't want to leave just, just cash. They wanted to do something more meaningful for him. So and then they chose to do a 20 pay policy design.

Keeping in mind that they don't want to kind of put a burden on the child when he turns 20 to maintain this, this payments. It may be a great idea, but we never know.

If he will be able to pay those premiums moving forward. So they just wanted to give them this 60 grand and then make sure that he doesn't worry about making any more premium payments. So they funded it for 20 years. And.

First of all, while the child is still small, the policy owner is a grandparent. They still can use the policy cash values and they can still still, you know, buy things in life, pay the policy loans back, buy cars, buy, you know, invest in different things. We all know that we, we may need access to cash. But then when the child is approaching about 20, 20th anniversary, 20th birthday, then there should be no outstanding policy loans. And then the grandparent can pass the ownership either to, like Richard said, either to the parents of the child or to the child himself. And with this Design, by the 20 years old of this boy, his cash value would be about $66,500 and the death benefit will be $481,000. Once the policy is paid up, there's no more premium needed. But guess what, the cash value is still going up and then the death benefit is still going up. Why does it happen? Why is this happening? Is because the dividend is still getting paid to the policy and then the dividend is being reinvested to purchase more death benefit, to purchase additional protection and then it is still going up and the cash value has to match the death benefit by the time this person, this child reaches 100 years old. And then I just wanted to look at how much passive income, you know, let's talk about only passive income for now. We know that there's so many benefits of having this protection in place. First of all, you don't have to worry about having pre permanent protection. Secondly, you have access to capital which is rising daily and you also have option to use this cash value, meaning that you can spend this death benefit while you're alive. Right? So the child.

When he's 65 years old, his cash value by that time will be around $763,300. So by only putting 60k into the policy, the grandparent changed the financial position of this child. So greatly that this child has three quarters of a million by the time he reaches 65 years old.

Got that up on the screen, Roman, if you'd like me to bring it up so we can show it to everybody.

But this is basically the $3,000 a year that's going in for that 20 year period, correct?

Yep.

Okay.

And then the policy is picked up. There's no more required premium after 20, 20, 20.

So in year 21 there's no premiums that that can be, can go in really at that point. If there's, in this case, I know.

You built this with some paid up additions included.

So if the child was able to, they could still pay the paid up additions premium at this point in time. But they would have to know to.

Do that, they would have to have.

Some education, they'd have to have coaching, they'd have to be at be engaged and involved. Or maybe there's a really awesome letter written by the grandparent that says, hey junior, make sure in year 21 you'd better follow through and do this or I'm going to be real upset with.

You kind of thing.

There's some kind of an instruction manual that says that's a great idea. Contact Roman. Watch these videos. You know, check out this Facebook group.

Read this book.

Read this book. Like you need to make sure you're taking care of this, taking care of business. Okay. And so here's that, that cash value, the asset value in that policy. Here's that death benefit you were mentioning. And as we scroll down, I think you were, you were giving us a number kind of around age, was it 65 years old?

Yeah. So yes. So the idea was to pull the passive income. By the way, it is tax free. So from 65 till, till 90 years old, let's say he lives till 90. Right. So 26 years in a row, this person can receive tax free passive income of $40,967. So almost $41,000 passive income, tax free. The total passive income he pulls out is $1,065,000 tax free mil. Yeah. And then in addition to that, after he's gone, let's say he passes away at 90 years old. 26 years of income. Yes. 26 years of income. No, no, it's 1.065 million.

065.

Got it.

Yep.

And then in addition to that, he also leaves behind a small legacy for his children which is about 500. What was that? It's about 550k.

Tax free legacy for his children, which can be also Used to.

To put back into the system and continue the banking that the grandparent one day created for this child.

This is the key takeaway right here, Roman. This is the magic sauce. 60k one time from a grandparent. Well constructed, well thought through. Legacy advantage creates a lifetime of working capital. We don't know our best before date, we don't know what day we're leaving planet Earth. So at any point in time on this, this crazy chart, at any point in time somebody passes away, there's a huge death benefit. There's working capital to pay for a mortgage, buy computers, buy cars, invest in the stock market, whatever that that child decides they want to do. There's one mill, over a million dollars of tax free passive income created passive income didn't have to work anything for it. It just showed up every single month or year like clockwork. And a tax free legacy of over 550 grand to a generation that the grandparent will likely never even meet that, that will exist after they're long gone. What other possible thing can create this kind of multi generational legacy? I'm not familiar with too many of the things that will do that. It all requires, it requires the right mindset, it requires a little bit of planning. But the key is in recognizing you can control this capital and financial value over multiple generations. So again, here's the next cool thing. In our example, we're talking about putting in that $60,000. It's basically capital that's available kind of now. You know, the grandparent wants to put.

It to work, they want to make.

Sure it's going to this circumstance. They don't want the hassle of actually having to worry about, you know, dealing with monthly payments or annual payments and getting a notice in the mail and online banking and making sure all that stuff is handled. They just want a one and done, set it and forget it kind of a model.

Yeah. And then they actually can pass away before the child turns 20. Right. So they want to make sure that this money goes into the policy regardless of what happens to them.

That's right. And so here's one of the cool ways that they can do that. And it's very common actually strategy. It's, you know, done by, you know, it's done on a regular basis. And this strategy is basically getting an annuity set up and that annuity will pre fund, it can do be with the same insurance company and it can basically pre fund a policy. So here I've got a 20 year annuity, it's called an annuity. Certain, it's designed to only to do its job over a 20 year time frame. Now if you wanted to set it as seven years or 10 years or 30 years, again, it just depends on.

What you want to do.

In our example, we're going to reference what Roman put on the screen for us. And so here, in order to create that $60,000, that's $3,000 a year for 20 years, the grandparent actually only needs to put up about $42,000 to create that $3,000 annual stream to fund that, that policy. And so they literally, they set up the annuity and they say, insurance company, take this money every year and I want you to go and pay this premium on autopilot like clockwork. So it's just kind of set it and forget it. And it just works like that. So the result is you have the $3,000 payout and it's happening each and every year. There's a small amount because there's some interest accumulation that produces a taxable income, but the taxable portion is 800 bucks. You're going to add $800 in your taxable income for that year. Very minor, almost a non starter event. And you can basically get, you know, $60,000 worth of run rate on a $42,000 input. And you can have peace of mind, simplicity. And meanwhile, all that money, that $3,000 a year is simply moving from this, this location into the policy and the policies growing and accumulating. So this is, this is transitioning down and the policy is transitioning up and you're just moving the capital from one source to the other over, over an extended period of time is a very beautiful thing. So in that scenario, you know, imagine that you had a, this, this grandparent, they were planning on using 60,000 and they decided, okay, how, how can I, I'm going to use a 60 anyway. So rather than doing 3,000amonth, they could actually get about $4,200. Sorry, $4,200 a year policy size for that grandchild. The same 60,000 can now create a.

Bigger, a bigger policy outcome.

Or they could use a lower amount of capital to create the outcome that they want. And then maybe they can spread that capital around. Like if there's multiple grandchildren, maybe there's five grandchildren and they have 200,000 that.

They want to put into play over.

A number of years.

Now we can separate that out and.

We can create the largest possible legacy.

Outcome by implementing a strategy like this.

Yeah, absolutely. And maybe let's also mention that ideally the spare Grandparent would want to put just one lump sum into a policy, which is not possible. The policy has to have like a sequence of payments, at least, like at least seven to 10 years. And that's why we are actually finding a better way to strategically put it into a policy in a sequence of years. Not just one lump sum is not available. Right. Because the policy, it has to do with the taxation. So we just need to basically plan to put sequence of payments into the policy as annual premiums.

One of the beautiful things you're identifying.

About that sequence of payments is that you can have some control over the decision on what that sequence of payments is. So again, taking that same logic, we're talking about one example of a $3,000 policy over 20 years. Fantastic policy. Another consideration might be, okay, what if we did a $6,000 a year policy and we did it for 10 years, and then we had the policy service itself or fund itself internally for the remaining 10 years? Well, by the time it gets to year, year 11, if it's well designed, like Roman has done here, you would have a policy that is in all likelihood very, very strong, that it can, it can do that. And the end result is that that parent or the, or the child has the ability. Now, if they wanted to keep contributing, they could, they could now impact, materially impact the total results that was started by the grandparent, by their mindset, their thinking, their aptitude, and their determination to grow this system larger for themselves. So there's many ways to combine this all together.

And that's why Nelson says in the very beginning of the book that this is an exercise in imagination, reason, logic, and prophecy. So if we exercise a little bit of logic that the more premium we put in, the better the system is. And the longer we can put premium in, the better the system is. We exercise our imagination, we think we.

Got a grandparent or parent, we got.

A lump sum of capital, we have a certain number of grandkids. How can we separate this resource out to be its most efficient over time? And then we start to plan around setting up the mindsets that we want these grandchildren to have so that when they're old enough, they can embrace the concept of family banking in their own life, and they can take the reins, you know, grab the bull by the horns kind of analogy. Take the reins and they can, you know, they're now operating the rest of their life under control financially, probably never requiring the need of a regular banking institution as long as they have the right mindsets in place.

Oh, yeah, imagine, imagine this child be having access to capital when he needs to buy cars or to buy a house or to build a house, right? And then for a wedding, for, you know, for birthdays, for vacation, investing, for anything he wants. He has access to capital. And most likely he will be independent from the banks, at least partially, at least not fully independent from banks, but only this one policy. How can it seriously change the dependency on the banking system that everyone is told to, hey, get a job, get a credit card, you know, and then make sure you pay the balance in full. So this person has actually access to his own pool of money?

Yeah, in about whatever a 15. Not even was that. That's 5, 10, a 13 year period of time. From age 27 to 39, there's $100,000 increase. No new deposits when no money went in. But, but the program increased by 100 grand just for the virtue of taking air into your lungs.

The only thing that caused that to.

Happen is the fact that the life insured person is still alive. Okay? And the thing that had happened leading up to that event is what's causing that occurrence to take place. And you know, furthermore, you go from, you know, here's about 200,000. Okay, well, where does the 300,000 show up? So now we've got five, six, seven, we've got eight years. So it took us 13 years to generate 100,000. Then it was only another eight years to create 100,000. Okay, so that process and the speed of accumulation of what's taking place, you know, and again, we can kind of go here, 1, 2, 3, 4, 5, 6, roughly six years. So we went 13, and then it went eight, and then it went six years. So we're seeing that that asset value is progressively increasing because this cash value must grow. It must chase. As you identified, Roman, I'm just going to highlight this in bold here. The cash must grow to equal that death benefit. Well, if the death benefit is a million, you know, $1.1 million and we only have 419 in cash, it's got to keep chasing and chasing and chasing after that future value. And meanwhile, the death benefit keeps growing. So this cash value is just chasing after this end result. And all the way down at age 100, we now have, you know, $3.2 million. You know, if the child doesn't live that long, okay, then, then, then they did okay if they lived and they did okay if they died. Pick any year, pick any year on the, on the chart that you want this, this person to die. Age 79.

Great.

They've got $1.9 million, they've got 1.4 in cash. Let's assume they owed a million dollars on the policy. They had an outstanding loan, including interest of a million dollars. They used a whole bunch of that money. The million dollars gets paid off and $1,800,000, you know, pays that off. The remaining balance, which is almost 900,000, shows up tax free to the beneficiaries. It's just such a powerful thing to be a part of and to be able to share this simplicity of multi generational thinking using a powerful tool, well designed when attached to the right mindset. That's how you create the success that we're looking for.

Absolutely. I also just wanted to add that the child, the insured person, has to have this knowledge from Nelson's book, otherwise he may end up stealing the piece from his own bank.

Right.

So Nelson really emphasizes this, this education, educational component in the, in the book. It has to. So the, the future generation has to have this knowledge. If you don't give it to them, then the family bank may be ruined by someone who is, you know, someone who doesn't know what to do with this. Someone who steals the piece. Right. So it is very critically important to actually educate our children and grandchildren to use the system properly and replenish the system and pay off the policy loans and think long range for their next generations and three generations past them.

And it doesn't happen overnight.

And we wouldn't expect that that would.

Be the case for anybody.

Which is why putting together some videos like this, having Roman share this example, getting connected to our other resources, our podcast, our other YouTube content that we.

Have available, being a part of our.

Facebook community and constantly engaging in these types of things is where you all of a sudden are sparked by an idea. This is how I'm going to relate this to my own children, to my own spouse. Here's how I can have this conversation.

Using the book as the tool or.

Other ancillary books that we have available.

On our website that help people understand this concept at a, to a deep level.

And so you're always growing, you're always looking for ways to convey this message to your own family members because as they embrace it and as they, as they, you know, Nelson would say, this is more caught than it is taught.

Yeah.

So as, as you catch it and you get more embrace, you know, it's like, you know, literally, if you imagine if you're a fish, I'm not a fisherman, but you know, there is, I have caught a fish before and there's a feeling that when you know that there's there's a live fish on the end of that hook that you've really got something and that's the same kind of concept of a feeling that you get when you catch this message and the real core essence of multi generational thinking using the family banking mindset. So Roman, this is a ton of fun today. Thanks for this great idea, this great topic and for walking us through an example and hopefully our viewers got a ton of value out of it as well. And we would encourage you to make sure to check some of the other videos that are going to be popping up on the screen, some of the other stuff that's available for you to dig into. As always, continue your journey of learning. Never be satisfied with just just a little bit of information. Go after some more and keep digging in and we appreciate you for doing so.

Cheers.