The FASTEST Way to Create WEALTH via Delayed Gratification

Instant gratification in most cases is probably going to end up having some kind of a downfall, some kind of a downside that you can't see right now. It's the unseen. Okay, Canada, you are so blessed to be here because you have access to whatever you want. We live in an instant gratification world. You can get instant coffee, you can get a drone to, like, drop off your Amazon package. You can get the new fancy headphones, whatever you want. You, if you want the fancy car, you could figure out a way to get it now instead of later, right? Instant gratification. But it's widely known that when you have instant gratification, you get to feel good and enjoy it now, but you feel the pain later. But when you do what you really don't want to do, you do the difficult things and you keep yourself accountable and you think long range, you often get the benefits later. And that's why it's so challenging to do what you know to do, do what you should do, but. But you just don't do it. Because instant gratification, there's all these temptations. You've read this book, you've heard about this book, you've heard about the process of becoming your own banker, the infinite banking concept in Canada. And then we get into the book and we hear Nelson Nash talk about thinking long range. Think two or three generations ahead, capitalizing your policy system for five, seven, eight, 10 years and over a course of a lifetime. And it takes time to build up the livesteam in the system. And you go, gosh, like, I could put all my money in a checking account or in a savings account or invest it all right now, and I could get that instant gratification, that instant hit. But my colleague Roman and I are going to show you today there's actual scientific data that will prove to you that if we think long range, if we follow Nelson Nash's golden rules, don't be afraid to capitalize your system because the capital has to reside somewhere. You're going to see the intense benefits that you cannot measure that are going to benefit you and your family in Canada. What do you think, Roman?

Yeah, you nailed it, Vern. So instant gratification is something that we may regret in the future and something that we make impulsive decisions. Sometimes when something is on sale, or let's say, when we talk about creating a banking system, we know that it takes a little bit of time to, let's say, have enough cash to purchase this vehicle or purchase maybe a, like, even a house. And Then finance it all through the banking system. But you don't really have enough from the beginning to use all of it, like, to finance 100% of this purchase. And you think, you know, that's okay, I will use my cash. I will use my cash. Not a big deal. So I will pay interest to the banker. You're still doing the same thing as you were doing before. There was like a test that was performed in 1960s by a professor of Stanford University. His name was Walter Mitchell. And what he did, he actually tested 90 children between ages 4 and 6. And this test is widely known as marshmallow test. Basically, it's a very simple test. He would put a marshmallow in front of them and they would say, this is a marshmallow, it's yours. You can have it right now, or you can wait for 15 minutes. And then if you do and you don't eat it right now, then when I come back, you'll have another one. Right? So it's like a double treat. And of course, children are children, right? Some of them had the first marshmallow, some of them waited. So this test, we just wanted to watch this video together and basically talk about it a little bit.

So, Roman, before you share your screen, if I'm hearing you correctly, we're talking about little kids in the 1970s, a marshmallow was a pretty delicious treatment. But let's think about you and I. We're adults, we have kids, we have all these things. And again, I talked about. I'm just using cars as an example. But to your point, what you're saying is if I get the one marshmallow now, that might be the car that maybe is a little bit less than what I actually want. But if I spend less money today and I find a way to get a car that will get me from point A to point B, and then I practice a process that will allow me to have an engineered outcome to be able to finance the car that I actually want down the road within my own banking system, I can grow my capital over that period of time, and then I get the payoff at the end. I get the double treat, I get all the cash, and I get the car, too. If I practice the concept, I can get my double marshmallow treat. Is that what we're talking about here?

Yeah, that's precisely right, Vern. So this is natural human behavior to fall into something that we like, we want now and we may enjoy for some time, maybe for a couple days, couple weeks, maybe a couple years, even but then we will look at our bill, we will look at the bottom line. And I've been there. So I had a very nice car. I've driven a very nice car. But then regretfully later, I looked at the bottom line and I realized how much money has left my family forever, and I can't get it back. The car was or leased from one of the dealerships here in Winnipeg. And basically, I knew I could do it a little bit with a little bit cheaper option. And right now we're actually driving a 2003 Honda Pilot, which still does the same exact job. And it cost me pretty much zero. Cost me nothing to drive it. There's no payments, there's no lease payments, there's no finance, there's no interest paid to the banks. But all my income, or the biggest part of my income is going to my policies, and I'm growing my policy instead of spending this cash, sending these payments away from me. Yeah. So you're exactly right, Vern. So this is what it is about.

I've got good news for you, Canada. It's not too late, Roman, you just shared a prime example. They say that the definition of insanity is doing the same thing over and over and expecting a different result. But you actually rethought your thinking. You were coachable, you learned something new, you changed your behavior, and now you're dramatically impacting the results that you're producing. So regardless of what your habits are, yeah, it takes work, it takes energy, it takes time. But you can shift your behavior, shift your actions, get some accountability in place, and you can produce dramatically enhanced results. So that's awesome. Roman, why don't we go ahead and watch some of the video and see what we pull out of it.

Let's play a little bit of this video.

Oh, it's a kind of American Sweet.

I want to give you a prize for having done so well. Do you like marshmallows? You do? Well, here's a marshmallow for you. You can eat it now, but if you wait until I come back, you can have two of them. So you can eat this now, but I'm going to go outside for a minute. When I come back, you can have two marshmallows if you wait. Okay, I'll wait. Do you think you could wait? Okay, let's see. I'll be back in a minute.

Notice their body language is wonderful.

Totally looks away the whole.

The whole time.

Too hot.

Little distraction.

You waited. You waited for me. Okay, so now you know what's gonna happen. You're gonna get a double treat. I'm going to give you of these, you lovely marshmallows. You want to eat them now or save them for later? Okay, go ahead.

Little sticky.

I had my son before.

Well, some children waited, others just ate it. You got it, right. So I'm going to give you a prize. I'm going to give you a treat. The treat is a delicious marshmallow. But if you wait, I have to go check my car. When I come back. If you wait, you can have two of them. You can have one now, or when I come back, you can have two. Okay? Okay.

Licking her lips.

Just temptation.

Capital t.

Sorry.

Oh, Roman. I know we're watching a couple of kids just, you know, eat or not eat marshmallows, but I gotta tell you, it. It's. It's almost emotional for me when I think about it. And I think about the analogy or the how that shows how life can go, right? The one kid, you know, was excited and achieved an objective and got that blast of dopamine. And the reward, the payoff, right? Because she did that behavior. The other kid, you know, okay, they're gone, nobody's looking. Boom, immediately eats that marshmallow. And I know from experience, and I'm sure you do, where the difference is made in life is what you do when no one's looking. And, you know, I've sat down with some people recently who are late, late in life, and this is why I'm so passionate about this process. And I get frustrated to no end. I mean, we're super blessed to be here. The way that the system is set up, the way that it's structured, is not designed for you to win. And I get so frustrated when I look at, you know, there's people who have dramatically huge amounts of wealth, and maybe they worked really hard for it. That's great. But the disparity between somebody else who's worked really hard their entire life, and they struggled to pay their mortgage, feed their family, put their kids through school, and now here they are in their 50s, 60s, 70s, and they're trying to figure out how they can survive till they die. It is heartbreaking, and it's devastating. Now, the good news is we can make a difference for you in your life today, but also more importantly for the next generation as well. Right? But I get so frustrated that that's how it goes because of how the things are set up. But when you know what the problem is, you're going to know what to do. And that's what the process Become your own banker is all about, is having the money come back and stay in a family instead of leaving you.

Yeah. And you know, Vern, when I watched this video, actually thought about Nelson talking about, you know, be an honest banker, be honest with you. So honesty is something that you have to be disciplined. When you practice infinite banking, you need to pay back to your system. This is what Nelson says, pay back to your system. Don't steal the piece from a grocery store. Right. So these examples we all know come from Nelson's book where he's presenting the idea of becoming your own banker. If you have control and ownership, you have authority not to fund your system, not to pay back interest, not to recapture your debt. For example, you put a premium in and then you borrowed from it. And then basically this is your instant gratification. You basically use this cash now and then you're not replenishing it back. You're not honest enough with you, you're not playing honest banker. So what it can do, it can ruin your system, it can damage the whole thing. Right. So if you don't do that. So this is exactly what children did. So one of them, the girl, she actually looked around and she just had it right. She instantly had this pleasure of having a marshmallow, but she never thought about what was going to happen in the future.

Exactly. Because what we didn't see is after she ate the marshmallow, it's like sad. Now she has to wait for the guy to come back and she's sitting by herself and has no marshmallow and there's no reward at the end.

Yeah, she's not getting a second one.

Yeah. And to your point earlier about not being a responsible banker, on page 19 of Nelson's book, bottom right hand side, he talks about the First national bank of Midland, Texas where they had 25% of their loans were non performing loans because shareholders were taking money out and not paying it back. And eventually that bank collapsed. Because if you have a banking system that has non performing loans, you're not paying back your loans, you're stealing the P's. That banking system is not going to last very long. It's going to collapse. And to your point about doing what you need to do, being disciplined again, we got good news for you, Canada. By the way, you're getting value out of this video. Make sure you go to the link in the post description below. Go to watchibc.com that's watchibc.com and you'll get access to a 90 minute webinar that will give you an overview of what this process of becoming your own banker is all about. But romantic. We work with our clients. We coach people to implement a process, and we are responsible to them. We're not responsible for them. They're the ones who have to take the actions, but we're here to hold them accountable and coach them along the way. I had some clients that I met with last night. Actually, they've been clients of mine for a couple of years, and we've been in touch and I've met with them and I walked them through the process. And they were excited in the beginning, right? You're all jacked up. You're all excited. But then what happened? Well, life happened, and they got busy and they got back into their old habits and their old routines. And I reached out and, hey, we're busy and we'll get in touch and whatever. Now, because we have such great systems in place, they got a reminder to set a meeting to come see me. And a couple months ago, they weren't ready to do that yet because they were still just not ready to take any action on it. They scheduled a meeting. They, they laid it all out for me, let me know kind of what was going on in their life and what they wanted to achieve. And they said, look, Vern, we're sick and tired of being sick and tired, and we're ready to dive deep into this process and get it going. And didn't we dive in and do a review of the process, Review of their system? They were shocked to see how much capital they had available, and they're not even operating the system. There's capital available and there's ability to deposit and capitalize more. They have debts that they want to eliminate, and they have cash available right now in their commercial bank account. But with good guidance, they're going to think long range, they're going to capitalize their system. And now, instead of giving all the money that they worked hard for right directly to the bank, we're going to start accessing policy loans and recapturing that debt. So again, lean on your communities, work with your coach, take advantage of all that. You don't have to do it on your own. That is such a terrible myth that everyone's been convinced that you're weak or, or that you're less than because you need support with something or you fall off the wagon. Welcome to being human.

Yeah. And, you know, so you mentioned word capitalization, Vern. So capitalization is all about the marshmallow test. So at the Beginning a child has one marshmallow in 15 minutes, he has two. If you wait, isn't it capitalization?

I would say it is. I would say it would be a huger turn. Absolutely, yeah. The capitalization. You're trying to think of that analogy. But yeah, they've got what they've got, which is like the base. The first marshmallow is like the base of the cash that they have today. And then the kids sitting there, that's kind of like putting the money to work and waiting, being patient. And all of a sudden, boom, that growth kicks in. That live steam guy comes through the door and gives you a second marshmallow. Absolutely. Capitalization and letting time go by, because it's going to go by anyway.

Yeah. So with thinking about, you know, think about someone who is on the fence on if he should do infinite banking or if he should use his income today. Yes, he can use his income today. Maybe even for saving, maybe even for putting it to, like, crypto market. Oh, the crypto is so low. I'm gonna buy it today because I'm gonna lose this opportunity to buy crypto later if I start this policy. I need to kind of only use part of my money. Yes, I can still buy the crypto, but I will use less. So they don't really want to wait. They want to use money today, but they haven't started the system, they haven't started capitalization, they haven't started this compounding machine which will produce them way better and way more money in the long run. Plus, they can actually use the insurance company's money to put into the same investment. Adults also make decisions based on their mindset, their vision, their future goals. If they think today's terms right, they will basically use money today to get instant results or instant returns. But if you think in long range, you're going to create a financial tailwind that will push you forward for many, many, many years to come. And also your children, your grandchildren, and many generations past. You will use your system that you created today.

What is our great and powerful friend and colleague, Sarbil Gill, always say you access policy, loan, you buy cryptocurrency, crypto goes up, cash flow goes up, crypto goes down, cash flow goes up. You buy real estate, real estate goes up, cash flow goes up. Real estate goes down, cash flow goes up. Right, Canada, you're not changing what you're actually doing or the objectives that you have. You're simply changing the process, the how you get done, what it is that you already want to get done. Roman, there's some statistics in that video, isn't there? We talked about some science, right? We're going to prove that delayed gratifications are the way to really create fulfillment and results in your life. Right?

Yeah. Let's run that portion of the video.

End up eating the marshmallow before the 15 minutes are over. The interesting thing is all of them said, we will wait for two marshmallows. And some of them did wait, some of them did not. And please remember they are 4 years old. So for a 4 year old kid to wait for 15 minutes also is torture. After this, Walter Mischel defined the two groups on pen and paper, not tell the children anything. Fourteen years later he went back to those children and he found amazing differences between the two groups. He went and interviewed their parents, their classmates, their teachers, and he found those children who were able to control themselves on average did better in academics, in co curricular activities, in sports. They were regarded as more confident, self controlled. They are more successful, they have higher income, lower drug addiction rate, higher satisfaction scores, and we're better at maintaining close relationships. And the other group gets significantly lower SAT scores. It's amazing. Just a small thing, a little bit of self restraint. I want to do this and I do it and the other person says, I want to do this but I can't do it. Just this difference. How is it that our ability to delay gratification with a simple test of power in childhood can predict so much of how our lives play out?

Your behavior, your actions are far more important than anything the life insurance company is going to do. Yeah, it's exactly what you're, you're talking about is like the way I think, the way I act, it's like a, it's like an algorithm, right. If I act this way and, and do this way. Have you ever heard of a guy by the name of Jack Canfield? He says the event plus your reaction equals your outcome. So an event happens and then who you actually be about it, how you behave about it, how you respond to it, is going to dramatically impact the outcome.

Yeah. So what are you saying, Vern, is that it's not something that this is the way children are, this is the way children are taught?

Yeah, absolutely. Like I mean anything, Right. The way a child, the environment that they're in, the way that they're taught. But then when we grow and we become, become adults, you know, we're out there just living our life and like the event could be you get cut off in highway.

Yeah.

And your reaction could Be I'm chase this guy down. Well, the outcome's not going to be good. Or the event could be you got cut off and your reaction could be like, ah, you know what, the guy's probably late for a dinner or maybe his father is sick. Maybe the guy is, has something really important going on. Maybe he didn't even see me. And so I'm just going to back off a little bit and let him go. Well, my outcome is probably going to be a lot different. We're all going to get home safe, all right? I'm not going to wind up in jail. Right. Or whatever it is. So that's kind of what I'm talking about. Your impulse sometimes your impulse, me, when I get really hungry and if my wife's not here to hold me accountable, it's dangerous. That's when I will start to snack and binge and eat food that I shouldn't eat. And then immediately, two minutes later, I'm like, oh. And I get so disappointed in myself because I worked so hard all that time right up there. But that instant impulse, two minutes just undid probably all the work I did all week long for my health and fitness.

Absolutely. So for someone who is not very good at, you know, controlling himself or herself, this is a human behavior and we can't change it. So we just need to work on it. We just need to kind of teach myself how to, how to overcome it. And Nelson Nash, actually in his book, he is talking about human behavior a lot. He's talking about the Parkinson's law, the arrival syndrome. So he, you just need to work on it to overcome this syndrome, to overcome this behavior. So if you train yourself enough so that you learn to wait, then you will be very, very successful in anything you do. And especially when it comes to something like a very long process of becoming your own banker. It's not like overnight thing like I wake up tomorrow and I'm free of banks. It's not working like that. You need to give it time. You need to give your system time to compound. You need to give your system time to grow and do it consistently. Pay your premiums every year, pay back your policy loans. The human behavior must be and can be overcome. You just need to work on it. You just need to learn how to do that in order to become patient, in order to become self disciplined, in order to become better at what? Waiting and giving the system time to grow.

Roman, we're, we're sharing about this book. You're absolutely right. You can change, you can grow, you can acquire. You just have to keep moving forward and keep practicing. And if you fall off, get back on. Just keep going. Watchibc.com Canada make sure you go to watchibc.com and the big takeaway here for me is instant gratification. Not always, maybe for the most part, instant gratification in most cases is probably going to end up having some kind of a downfall, some kind of a downside that you can't see right now. It's the unseen. So that's the, you know, spending all your cash right now on that instant opportunity. That is, you know, getting, spending and living outside of your means. That is, you can go and enjoy and do all these things right now. But if we start to change our behavior, think long range, the reality of it is, Canada, is you actually know what to do, right? Do the things you know to do and you'll get out of life what you want to get. And make sure that you study and you read and get around people who are actually up to stuff, around people who are doing what it is that you want to do, what you want to create.