Nelson Nash: Are You Ready For The Solution? (30 of 30)

Nelson, can I ask one question? Yes, sir.

On the policies, are they all not personal?

Are they all one company? Two companies. Let's see, there's some estate farm, there's one in New York Life, there's a number with accident and there's a number with guardians. Yeah, okay. Now we started out, I told you, we got to the point where we own 49 houses but we've given away down to a point where we only have 24 policies.

This is a great way to transfer wealth from one generation to the other on a very great tax payable basis. But see, the good part of all this is it teaches people to think intergenerationally. Well, tell me what's happened to the family in your country and ours in the last hundred years?

Must just say the last 50 years.

Well, what's the answer?

And you get down to the heart of it and it has to do with money.

See, Ben Hayden is a great preacher in.

St. Nevaeh, Tennessee and he's a couple years older than I am. But.

Anyway, Mary and I threw honey in his outfit many, many years. And we always got two sermons in the mail every week. I remember one very well. He says in my generation and his that the subject that was taboo among family members was sex.

He says, madge, money.

They talk about anything in the world within a family, but they can't keep them flying. Hey, keep the pony in. Forward. Keep the pony in. I'm sorry, I cracked flames.

Don't mess up.

Have the same number of landings and takeoffs.

Okay, fine.

I have a question. Yes, your question.

I was always asked by advisors.

What's your step, Nelson?

Life assurance of us. Yes, we are actual life that has.

No connection at all.

And then somebody showed me the picture of actual life of British.

British, yes, total differentiate.

Happen to have the same name.

True. Yeah, that's equitable violence, all that kind of stuff. But when the guy started out.

Unfortunately, no, you see, this was the brilliance of the Harvard MBAs that I was telling you about that I tangled with. If they want to become a stock company again.

And so they say we can manage more capital if we do that and so forth, we can attract more capital. Well.

That kind of thinking came straight out of the Harvard MBA syndrome and they ruined a real good company. AXA had to buy them out. AXA out of France. Okay. When we pay a premium on those quote equitable policies, it's made to accident.

So if a life insurance policy was set up using the IPC concept with a mutual company and then all of a sudden, after 20 years, the company demutralized.

Yes, but they still pay dividend. Yeah, they just close. That block of possibilities I'm trying to get across, and I mentioned is that how you behave is much more important than how the insurance company behaves. You see, when I showed you the activity of that state foreign policy, I showed you.

What the insurance company did. But what is not seen is what I did with the policy. I made three very good investments. That doesn't show up here. That's what banking is about. Banking is having the access to ready resources when you find that opportunity that you know something about, unique knowledge about. And everybody runs into that sort of stuff, but they don't have the resources to do something about it. Coupled with the fact they do some stupid things. Like.

Okay, Joe Pantozzi used to tell me just the other day on the phone about someone.

Who was a pastor of a church that the guy paid $65,000 for a course to learn how to flip houses.

Says that did he make a policy loan to do so? No, he went to the bank and got.

Oh.

Printfalls.

Sometimes it looks hopeless, but it's not.

Yes, Daryl.

Hopefully it's not a dumb question. Yeah, just kind of going back to what Jason was saying. Illustration 1 and 2. How when you do financing, the policy grows.

I just.

I'm not quite seeing the logic behind it. I don't know if we can structure accumulated policies, for example, to be able to get the edos.

Okay, quick thinking about 8 policy. Quit thinking about a policy. Think about an aggregation of policies, a system. See, I showed you two businesses to get your mind adjusted to start off with. I showed you the grocery store business, then I showed you bank of America. Didn't. And then I asked the question of you, how many branch offices does bank of America have?

Lots. They're all over the place.

Yeah, don't ask the president of the company. He doesn't know.

How many stores does Walmart have? Lots. All over the place. Well, it started out with one store in Bentonville, Arkansas.

Why did they do this?

Now.

Have y' all seen that? 25 richest families in the US.

It'S in Forbes magazine here recently.

The Walton family is far and away above the Koch family.

Yeah. The rockefellers is number 23 out of 25. Yes. Now how did they do that? Proliferation of policy of stores. Branch office of the Bank. Proliferation. Well, like I told you, we own 49 policies at one time. Don't think about a policy and how it is structured. Just think of these principles. And that is All. Now, this is not all going to jail in your mind immediately. No more than that bicycle back there jailed in his mind immediately. It's going to take place over time, any plan.

That's right.

And see, these guys have been around long enough at this point that I understand this perfectly.

I can take off like even for my family. I have seven policies. But even if I want to implement this, I just. I've only taken one policy loan. But you know, even if I don't take it again, it's that same commentary that the cash value, the events grow. I don't know how to take the structure and repay the policy loans based on my existing seven policies. Like, how does it actually grow? I can't see that. I see it in the illustration, but.

Well, let's go back just up in.

You need a coach.

You drive an automobile.

Yes.

Well, how was it when you started out.

When you started out driving an automobile, how did you feel?

Were you all that confident? Were you all that okay, I rest my case.

You can't learn how to swim if you don't get in the water.

Yeah. A couple of the facts that you can't keep one foot on the dock and one foot in the boat, can you?

That's right.

You got to decide which way you're going to go. You got to make a decision.

Well, is this the good way to go? Yeah, that's what this is about. I don't know if that answered your question. Because they won't necessarily jail.

Immediately no more. That guy on the bicycle there, he said all of a sudden it snapped. He was working on it for eight months.

Learning how to ride that bicycle, and then suddenly it snapped.

It's similar to the same question that I had. So I understand your question.

Yeah.

And I got it answered.

Did you get answer?

Okay. Yeah. We're running out of time, aren't we? Yeah. It's been the same answer for eight years, though. Yes.

Okay. Read something from the book real quick.

Oh, yes, read something out of my book.

So this ties to a little bit.

I haven't read in a while what.

You just asked on page 48. It's in the second paragraph, about halfway down.

Okay.

Halfway. Three quarters of the way down the second paragraph on page 48. When he builds a banking system through life insurance, makes loans to himself to buy automobiles or anything else or investments, whatever he's going to do, and pays back the policy or policies, the same payment he would have paid the banking system that he makes with the banking institution would have made off of him and it's all done on a tax deferred basis. The interest he pays when never leaves his account. More control because it's premium. If this is done consistently throughout his life, it will make a tremendous difference in his financial picture. So if he pays the loans back, can he access the money again? If he puts the money into new premium, can he access the money again? If he pays the loan back and the loan is fully extinguished and he has more payments he hasn't finished doing yet because the car. He agreed to make 60 months of car payments and the loan's extinguished in month four. Does he have 12 more payments to make? If he's following the system, does that have to go back into a policy towards premium somewhere? If this one can't fit it, does he have to go get another one? Yes. So all Nelson's trying to teach you here is that it doesn't don't be limited to one policy or how much you can fit in a policy. If you build it to maximum, you're just going to have to get another one. Oh, well.

You got to sell.

Other problems triggered something that I left out. It is so important. Thank you for that. You ready? I'm ready. Look, baby. Paige, you just looking at that? Yep. All right, Mary, you want to write a check each of the three kids 500,000. 500,000. Now what in the name of heaven are they going to do? That money have to put in a policy. Well, the policy won't hold them.

They'll just have to get more.

They can. Kim got some policy loans out there because they have never financed a car anywhere ever. All right, now look, there's Kim and this day there's the four kids. They're all married. Well, how many cars is that good reason.

Would you rather give your money? All have been ball financed but have never seen a finance company a since they've been married. Because I started teaching this to them when they were first married. See, Mary, Kim and daddy got married out in Hawaii. And first thing he had to do is buy a policy. Hawaii is no legal right.

He did. He did say that.

He said the first thing Nelson did.

Was make him sign the application when he met him.

Okay, well, that remodeling, reworking of the house for the no mortgage. It's totally done through policy loan. Well.

They got a place to put about a third of that 500. Well, they going to do the rest of it. Got to get some policy. Oh, please don't tell me they going to go for the stock market. No, no, how about that wonderful thing called real estate that's going to get better every year, right, no matter what?

Yeah.

So what's the smartest thing that my three kids could do right now? See, worse than that. Golly, I hate to admit this in front of y', all, but my oldest daughter.

You gotta understand, she's married to a lawyer.

Now, they.

Bought a lot of life insurance, but they don't have any policy at home.

What they come to with all that money.

And then Mary graduates. Well, they would do that. Well, what's the smartest thing they could do?

Please find it to the body.

Know, go out there and buy a whole bunch of life insurance and pay on it about four years or so forth and let the dividends pay the show. Premium offset policy loans. Yeah, premium offset.

Let loans pay the premium. That's going to create a debt. Well, when that. When I graduate, she graduates that place, dump that money. It's all right. They don't teach this in home offices.

See, back there, years ago, I bought a piece of Property down Highway 31 south of Birmingham. I knew that it was going to sell one of these days. It's going to be good. Now, I bought a policy at that time and again the purpose was to build up cash bays like a bar in Bails Knights and Dragons. Well, every time I had significant amount of money there to pay off Snakes and Dragons, I did. Well, I got debt in the policy. Now about 13 years later, that property finally sold him a nice gob of money. Well, what did I do with it? I placed it and dropped the whole cotton. It can work.

Now. Do you know that's the same thing going in as buying a policy today back then 13 years.

Yeah, so people say, gosh, I wish I had done this 20 years ago. You can. Yes.

But we got to get people to think, don't we? Oh, how do you get them to think? That's why education is so important. But.

They confuse education and indoctrination, don't they? They think that you're going to get educated. You don't go back and get another degree or something like that. No, that's not education.

You get education out there, just going to just three or four websites that you carry on don't cost you nothing. It's going to cost you time to read. It's all. And that's real stuff that stands the test of time. Whereas the stuff that you get in colleges there is from people who can't make a living if they had to do something else besides teach.

How we Doing time, Nelson, I'm just letting you go. I know, but I might go for seven or eight hours. Yes, sir. What you got, Curtis?

A question that I get from my clients, a lot is. And I make up an answer, I prefer to have your answer is.

Why.

Has the whole financial industry not embraced this? And like I said, I have an answer that I give to clients, but I'd like to hear yours.

I would use the answer. The banker on the.

The YouTube there, he told you, right? There's just a few of us, and if you knew that, you could put us out of business. Did you hear him say that?

Yeah.

Go back and listen to that thing over and over and see what he actually says. He gives you every clue that is necessary here. Separate time those folks in the proper place out of your life. Well.

And would you. Would you say that it's also true that it's their arrogance, their belief that they can continue to deceive the masses. They don't need to have you eliminated because they actually believe that they're going to win more minds than you?

Again, the way that it's done is, is to make you think.

Make you think that they're giving you something and they're not. It's impossible. That's why all those dang books are in there. And that's why Austrian economics has got to be understood. It's got to supplant the Keynesian thought process. And again, if you can study those books, it's on my website there. It's obvious what can be done, but you can't do it with a mindset that prevails out there. It's got to be.

Furnished a little bit at a time. You know, start with something that's pretty simple, like economics in one lesson. Start with richest man in Babylon, things of that nature. I pencil, so forth.

Mentioned several of them here last yesterday.

But you can find your own way because.

When it's coming from you, it's authentic.

When it's coming from somewhere else, it's just more conversation that could be classified to other people than noise. But if you've experienced it out there, that's a different animal altogether. That's why it's necessary to you to totally become your own banker. But you see, we have crazy things going on out there. There's a person I've known quite some time ago, for some time now, he recently made a $600,000 policy loan from.

His policies and put that money in a checking account in a bank. Can you believe that?

Now the idea of that guy being a financial advisor, the most frightening thing I can think of.

But that happened. Hey, Nelson, can I add to that?

You know, so to Curtis's point there, psych. It's a consumer's mindset. So for years it's, you know, myths and beliefs about how as a whole.

That people been taught to think.

Right.

So that's mainstream.

Yes.

So it's really tough to get people's minds.

Yes.

That'S what we believe. They've been taught how to be prisoners and they like it. Again, go back to my book. Building a warehouse of wealth out of Egypt and home to Babylon. From slavery to slavery. 400 years of slavery there they got holy acclimated to slavery. Now when Moses got them out of.

Sinai, they started bitching immediately. Well, it wasn't all that bad back over in Egypt. We got to go back.

Well, what has changed over these thousands of years?

Learning how to be free people is a painful experience, but so rewarding and fun.

Nothing touches you.

Why are people attracted to something that won't work? See, when I put those four quotations up there the first time, remember what.

H.L. menken had to say?

No, this is one about the.

When you tell them the truth, they put you down and think you're a scoundrel or something like that. They love darkness more. Okay, back to the Bible again. Men love darkness more than they do light.

They believe in them things that don't exist. Well, the problem is getting the nonsense out of the people's minds. And again, they got to understand that free market.

Contracts with other free people is the only way to go. See, there's no coercion required here. None.

So that's the hallmark of this state. Somebody gets some crazy idea and they got to force it on other people out there and so forth. Well, let me tell you something else that, that might hurt a little bit. Getting the life insurance finish when I did. And if you did. If you're not a member of life underwriters, you, you're not a member of the club. You've got to join Life underwriter. Oh yeah. All right. Now once you join it open and you go become president, right. You.

You go through the chairs to get to be president. Your first job is program chairman. Yes. Well, I got the guy from the home office of life under. I was in Washington. He was very candid in what he said. He says every eighth grade city class member knows that they're free branches of government in the, the federal system of the usa. Legislative, executive, judicial. He says after a While they might learn that there's bigger branch that's much more powerful, the bureaucracy.

They create what I'm asking, they create regulations that really.

Treat it as laws. It did not come from accomplishments of.

But then he says after a while, if he hangs around and thinks enough, he might find out there's a fifth branch of government that's bigger and more powerful than that.

Lobbyists. Lobbyists.

Lobbyists.

Well, who controls the lobbyists? Go against each other. Business. Yeah, but banks. Yeah. I rest in case. Now, I went through the chairs after my partner Lamar Phillips went. He went through the chairs first. Now he goes on to be.

Part of the state office, state level of life under art. He goes to Matt, down to Montgomery and comes back from a meeting and he is just totally white as a sheet.

You won't believe what happened at that meeting today.

Tell me. The entire meeting was about how membership in life underwriters was going down.

We're losing members. Members.

Are you ready for the solution?

We got to create a problem.

We got to create a problem. Did you hear that?

We got to frighten members into joining life under.

If you don't join life underwriters here, do you realize what Congress is getting ready to do? They're going to tax the inside build up of cash values of life insurance.

That didn't come from general public and so forth. That didn't come from.

The government or anything like that. It came from, you know, where I just. I ill strength. Well, that's a shortcut out there that people are trying to frighten people into these things. And they could have spent that time on teaching people what we're teaching here. And that becomes a total new point.

That's right. Folks gotta understand the characters in the play and you understand who's doing what to do so forth and realize that freedom out there is to solve the Viking country. It can be done and it is being done. And you guys are the folks that get all this done because you're the coaches. You're out there where the rubber meets the road. You're out there in the minds of the people that is going to want to get out of slavery. So. All right, now what am I supposed to do? Where'd it go?

That means you got time for one more question.

Oh, which one is that?

Anybody got a question? Yes, Don, do you have a question? Oh, picture, picture.

Yes, sir. What's the question?

So you mentioned a couple of times in your discussion for the last couple days about the Equity Life insurance company.

Yeah.

Tried to get them to believe In Wisconsin.

I spent five years.

Why didn't.

Why Mel Rock Harvard MBA thinking okay, it's something that you don't educate a lawyer.

You don't educate a Harvard mba.

Yeah.

Arrival syndrome.

Who are you to talk to me about this?

All right. You know, my mentor was Leonard Reed. And back there when Leonard first started out creating the foundation of economic education.

Do you believe that Leonard Reed had a. An office in Equitable building Granted compliments of. Oh, I can't think of the president of the company at that particular time. He was a really great guy.

All right.

But then along comes this Harvard MVA bunch that think they know everything that is made a monkey out of the entire world. See, they're totally in love with Keynesian thought.

Well, that's what's happened. And so years I come along and I'm talking to some of the higher up there with Equitable New York and singing the praises of foundation economic education and.

I got absolutely nowhere.

Well then it seemed like their thoughts is. And then the first debut.

Again. They're the ones who greeted.

Life insurance.

Absurd idea that's top down thinking that just won't hold water at all. And they're the ones that created variable life. That was the baby of John Carter and Jim Atwood too.

I knew John very well. But here's a meeting over in Atlanta after I've been working on this for quite some time and There was over 500 people there and forward real estate business, he got diversified.

And John Carter is up there talking about how.

We invite.

What's the word? Innovation.

Q and A lets us talk. John. I've been trying to get this innovation for quite some time. Yeah.

Then I would shout it down.

You must go home. Who would you.

So I saw that they're totally unteachable. I'm a very slow learner. Five years to see if they were unteachable.

So in the next book I think there should be a chapter on buying that airplane.

Yeah. But I.

I ought to pass the fiscal in quite some time. But gone. I got fed up. Okay.

With my background of heart.

Quite bypassed by the time that you had the exam to the time that the FAA finally got around to saying okay, now you can fly. It was only 90 days. Well, I got during all that time after my bypass I had another pilot with me anyway so I said she planned to go through that. I just write with them. Okay. But succeed again.

But thank you for the folks now.

We'd love to see you in Birmingham next February. You're here.

Yeah.

Yeah.

He'll be there.

Yeah. Yeah.

We invite some office folks. Other folks. It's members only.

Awesome. Yeah. Let's give Nelson a big.