THIS Will Make Teenagers Millionaires (IBC for Teens)

I believe with hard work and dedication, all of you can become your own banker. We are kids doing ibc, living proof that you don't have to be rich against the banking business. I'm really excited about this. I've been looking forward to this prior to even coming to this event. So I'm pumped about what we're going to all get a chance to go through. So the youngest ever making their debut at the Nelson Nash Institute 2024 think tank, please welcome Jackson Low and and Evan Edgar.

So my name is Evan, and standing on the side there is Jackson. He's my cousin, so I'm Jason Lowe's nephew. And today what I'm going to be talking about is a teen's perspective on the infinite banking concept. But before I start, I just want to say thank you, David. I don't know where you are, but thank you for giving us the opportunity to come up here and speak. I'm honored to be here. This is my first time speaking, hopefully not the last time. I also want to thank Nelson Nash. All right. Nelson Nash. I want to thank him for what he did to our family and just for making all this possible. So Nelson Nash wasn't just a guy with an idea. He changed lives, including ours. So join us in standing up and clapping loud for Nelson Nash, the real MVP of Think Tank.

Nelson's book. Can I get a show of hands? Who has read this book? Right here. Just put your hand up. Okay, that's what I thought. Okay, perfect. So now what I want everyone to do is read it again. And then again and again and again and again and again. Okay. Never stop reading that book right there. The Family Banking System. I am very proud to be a part of a family banking system. And the reason why I'm so proud to be part of it, because I don't have to do business with other people's banks. And that is a very good privilege to have at my age. So part of being in a family banking system is annual family banking meetings. So as you see on screen here, these are some pictures that we took on our last meeting. This meeting was held in Mexico. And what we do in these meetings is we all gather around my uncle. He'll sit us down in front of a TV and give us his presentation that he prepares every year. And he'll answer any questions that we have. He keeps it nice and simple because we're only kids. He'll give us a worksheet at the end, we'll fill it out and he'll correct us on the Mistakes that we make because we make a lot of them. And, yeah, it's good. It's fun. So policy loans. I'm gonna show you guys a quick video from the last meeting that we did about. Me and my uncle just sat down, we talked about policy loans. Okay.

Okay. So I'm sitting here with my nephew Evan.

Yes.

During the course of this family banking meeting, we had everybody. So all the kids got together, reviewed some critical questions, some key understandings, and you chose to answer question number four. And so that question was, how is the family banking process different from using a regular bank? So how would you respond to that?

Well, instead of using a normal bank, which will, you know, they're in charge. They pick how long you have to. How long you have to pay back money, how much money you have to pay back. You don't really have as much freedoms, but if you use a family bank, you have a lot more of those freedoms available. And once you take out money and, like, pay it back, instead of paying it back into, like, some other company, it's going back into the family pool of our money, which then you can take out that money later in life to get something else for a loan or something like that.

Absolutely. That's actually. That's precise. It's very precise. And when you think about. So I was asking some of the other kids, like, what are some things that you could envision yourself using the family banking system system for as time goes by?

Well, I've used it once so far. I got a monitor, but I think in the future, maybe a car, maybe if I want to, like, start investing, maybe in, like. Like trying to buy businesses or it's like real estate, then maybe I'll use the family banking for that.

Okay, good. And will you include me on some of those deals so we can make some money together? All right, well, I'm super proud of you, Evan.

Keep up.

Stay. Keep up your work on studying the process, because the older you get, the more you simulate this. So the more activity that you have in the family banking system, the easier it's going to get. But the more the knowledge will stay with you. Nelson used to often say, either use it or lose it. And what he meant by that was, if you don't use the knowledge, then it's eventually going to escape you. And so always remember, whenever you need access to money for anything should always be coming to the family banking system. The money pool for the family first. Agreed?

Yeah. Okay.

Good job, buddy.

I'm proud of you.

I actually lied to you guys. In that video, that was not. My first loan was not a monitor. It was an Xbox. I was 11 years old and it was a $600 Xbox. It had just come out at the time. And $600 was a lot for me when I was 11. Still is, but way more than is. So what I did was I went to my uncle's house on a Saturday. I said, hey, I want this Xbox. It's $600. Could you help me out? He said, yeah, absolutely. We'll get a policy loan set up. And the next day I came back on Sunday family dinner. He sat me down and said, hey, I got the policy loan ready. Just sign it. So I signed it and I went out and I was 11, so all I could do was get a paper out. That was the only way I could make money. So I got a paper out and over the course of the next 10 months, I went out every week with my dad. We delivered papers and I was able to pay back the 600 plus interest on the policy loan. And then I immediately took another one, got a monitor, and I did hockey. I reft hockey to get that, to get that policy loan paid off there. And now I'm working at a grocery store to get a car. So my thoughts on the five advantages of policy loans. So, number one, you control the repayment schedule. And that's a freedom that you're not going to find at a commercial bank unless you got an uncle like mine who thinks he's a loan shark at every family barbecue. There he is up there. Number two, you reborrow. You can reborrow everything that you repay, plus more. Can anyone tell me why that is? The total cash value, which isn't money never stops growing. And the extra interest I pay isn't really interest. It's more premium paid into our system. The only thing that grows our system is more premium. Number three, Nelson asked, would you have much of a grocery store business if you're the only customer who shop there? No, of course not. Why would you? That's why you have to keep the cash flowing back into the family banking system. So in our family, we encourage every single member of our family to use this system as much as possible so we can always keep our money working for us because our money always needs to be in motion. Number four, every loan strengthens the bond and sometimes the arguments at Sunday family dinner. Number five, think of this process as the piggy bank's much cooler older sibling. What I mean by that is instead of emptying it out, you're expanding it and you're growing it. Here are just a few pictures that are on the right side. That's me signing a policy loan. In the middle, that's me and my cousin signing policy loan. On the left here, that's my brother signing a policy loan to get his first car. Are family banking systems golden rules. Now these are our family banking systems golden rules. You don't have to follow them. You can if you want. Really, to each your own. So number one, follow Nelson's golden rules. That's a very important one. Number two, pay your loans back on time. And number three, it's a one strike, you're out system. And now I'd like to bring up Jackson Lowe. He'll be taking it over really quickly.

I just want to say thank you again, David Stearns for giving me the opportunity to speak here. I really appreciate it. It's a great opportunity and obviously I want to thank Nelson because without him none of this would be possible. None of us would be here today. And yeah, with that, let's get into it. On the screen you'll see one of my favorite quotes from Nelson. It reads, I want everyone to know that you do not have to be risked against the banking business. Now I like this quote so much because I can relate to this because being 15, I don't have that much money. But even though I don't have that much money, I'm still implementing this process into my everyday life. And I will continue to implement this process until the day I die. It does not matter if you are a millionaire. It doesn't matter if you're a middle class citizen. It doesn't matter if you're working a minimum wage job. I believe with hard work and dedication all of you can become your own banker. We are kids doing ibc. Living proof that you don't have to be rich against the banking business. In that picture, we are just kids. But that's not stopping us from implementing this process. And we're going to continue to learn this process, teach it to our kids and just get that generational wealth. Always remember Nelson. Like I said, without Nelson none of this would be here. And sadly he isn't here with us today. But that shouldn't, we shouldn't forget the lives he's changed and the lives he's going to continue to change with his great information. And now I just have a short video of me and my dad talking about Nelson Nash at our annual family banking meeting.

Sitting here with my son whom I love with all my heart. And so Jackson, we Went through some questions today in the family banking meeting, our fourth family banking meeting. And the question that you chose to expand a little bit on was question number one. Who wrote the book titled Becoming youg Own Banker?

Well, Nelson Nash. Pretty simple question.

And what do you. What do you remember about Nelson? Because you had an opportunity to meet him one time, but you were very young. What does Nelson mean to our family and the implementation of this process in our family?

Well, Nelson means a lot to our family because without you meeting Nelson and Nelson mentoring you, we wouldn't be in this place right now having a family banking meeting. I don't know where we'd be. I don't know if it'd be for the better, for the worse. But what I remember from Nelson, even though I was pretty young, I remember he was a. He was a smart guy. He was pretty nice, too. He's. Yeah, he means a lot to our family because he taught you everything you know. And you teaching. Trying to teach other people is a good, good thing because you teaching other people, more people know about the process. More people will have this opportunity to, you know, maybe go on these vacations, have more money to spend and just live a better life.

I'm so proud of you, Jackson. I love you with all my heart. And I know that Nelson would be extremely proud of you, too.

Starting early now. I think this is one of the most important things because time is your friend. Time is the one thing you cannot change. Think two, three generations down the line. The opportunities you could give your kids just because you decided to start early. All the cars they could buy, the houses, the great financial future they could have. Here's a short video of my twin sisters, Charlotte and Katie, receiving sign books from Nelson.

Thank you, Nelson, for the book.

I'm so excited to read it.

Cool.

Thank you, Nelson.

I'm so excited to read it.

Back when mom and dad were expecting me, they snapped this pic. Dad's face says it all. I'm glad mom didn't let dad name me dividend.

This is my dad holding me right after I was born. Mom says the first thing dad told me was that he took a policy loan to buy my car seat and I had to pay him back after the tickle match. Here, here we are celebrating starting my first policy. They say a picture is worth a thousand words, but this one's worth a solid financial future. This is another one of my favorite quotes from Nelson. It reads, you will need a system of many policies in order to do the complete job. This is a quote I Actually said it reads, my parents did something for me that I couldn't do for myself. They purchased policies on my life and I can express my gratitude to my dad who's standing right over there. You really did change my life for the better, set me up for a financial future and I really appreciate that. Now taking a look at my system of the policies, the year, the age and the premiums my mom and dad pay that I'll eventually pay once I own my policies. Now, looking at numbers, currently I'm 15 years old. So we're going to take a quick look at my policies now and when I'm my dad's age. Number of policies 8. The premiums $18,000 cash value $64,000 face amount $859,000. PUAs $387,000 and when on my dad's age, the premiums, they stay the same. The cash value definitely goes up to $1.5 million. The face amount also stays the same, doesn't change. PUAs go up to $3.4 million. Cash value increased that year, $97,000. Dividends projected that year $33,000. PUA increased that year $107,000. Isn't that good, Dad? I have three sisters. Mom and dad did the same for them. That's $74,000 in total premiums every year. Don't be afraid to capitalize. Nelson said everything begins with the way you. There you go. Do you think that I'll ever stop paying my premiums? No, not a chance. We're Jackson's parents and we put this line here. Nice. This is another quote I said. It reads Learning about policy loans. Show me why working hard is important. Why I've got to pay back the family banking system and never steal the fees. Basically this is just the unseen of policy loans. The responsibilities. It taught me the hard work to make the money to pay back the policy loans. And remember, never steal the. There you go. Why kids pick up on IBC fast Because it is a ridiculously simple process. Very simple process. That's why they pick up on it. Here's some things I hear adults ask. What's the interest rate on policy loans? Which life insurance company do you use? What's the dividend scale? Interest rate? How soon can I stop paying the premiums? And what is the base premium to PUA ratio? I've learned those things just don't matter to me. And a piece of advice I can give to all of you is when you're teaching your kids or teaching first time clients, I would say, just make it as simple as possible, because trust me, that will go a long way because they'll probably understand it better. This is a quote that Nelson often said to my dad. It reads, your kids are learning a process, not buying a product. Why Evan and I are here today, servant leadership. Basically, we just want to add value to think tank and teach people how simple this process actually is.