What the Rockefellers Knew About Wealth That the Vanderbilts Never Figured Out

One of the things that I see nowadays is we tend to forget history very quickly. That creates a problem for us in the future because remember the quote, if you forget what happened in the past, you're bound to make the same mistakes in the future. In 1877, the Vanderbilts were actually the richest family in America, but by as early as 1970, much of that wealth had dissipated. You can pass on generational wealth, but if you're also not passing on that, those generational values that go along with that, you could end up going from regs to regs. Once again, welcome. And I'm just gonna start by inviting you guys this evening into a story because what we're talking about here is thinking long range in a short-term world. And I really wanna know what does long range mean to you guys? So before we get into any more of this, you can go ahead and utilize the chat box. And what comes up for you when you think, when you hear think long range? Like, what does that mean to you right now if you were to put that in time as a perspective? Okay, so I can see we've got some of that in. So 2 to 3 generations, 10+ years. Good. Okay, so future generations, multiple generations. Outstanding. And these are all great points and all great feedback because really that's the theme that we're looking at this evening. Now the story that I want to invite you into is the tale of two dynasties. Because we have people from across North America, some of you may be familiar with the pictures that you're looking at on the screen, and some of you may not be. So I'll go ahead and introduce you. So what we're looking at is two wealthy patriarchs that created dynasties in their own time. The one on the left is Cornelius the Commodore Vanderbilt. He was one of the great families in the U.S., took over the transportation industry when it came to steamships and rail yards. Very— somebody that was very predominant in history. And the person off to the right is John D. Rockefeller. Now, some of you may be familiar with him, some of you may not. John D. Rockefeller, his dynasty was in oil and gas. Now, some of you may be familiar with a company called Standard Oil. It used to be a large monopoly in the US in the early 1900s, and it was actually so wealthy and so powerful that the US government actually broke it up at one point because it had monopolized that industry. Now, why are we talking about people that come from the past? One of the things that I see nowadays is we tend to forget history very quickly. We tend to forget the lessons that were learned in the past. That creates a problem for us in the future because remember the quote, if you forget what happened in the past, you're bound to make the same mistakes in the future. And you can see here the little excerpt that I have on the bottom of this slide that in 1877, the Vanderbilts were actually the richest family in America. But by as early as 1970, much of that wealth had dissipated. Now, let's go into a little more detail about these two families. So we're first going to talk about the Vanderbilts and what the Vanderbilt trap looked like. And there's focused on consumption. They had copious amounts of consumption. They really had Fifth Avenue mansions, which, to be honest with you, they had more than one. Okay, they spent a lot of money stuff as opposed to investing and utilizing it properly. And they also went through something called The shirt sleeves curse. Now, some of you have probably heard of rags to rags or rags to riches. So somebody that comes from poverty, maybe wins a lottery and then goes to riches. Now, some of the things that come with that is the mentality and the issue around why those people end up losing their fortune over time. So the lottery is a great example. If you think about someone that you know that maybe won a lottery or what you've heard in the news before about lotteries. The issue becomes because somebody doesn't have the right mentality or the right discipline around the psychology of money, they usually end up losing all the money in a very short period of time and getting back right back to where they were when they first started. And it's very unfortunate. Now, the Vanderbilts, they actually treated their wealth like a checking account constantly being spent Nothing else really coming in. Contrast that with the Rockefeller family. Now, the Rockefeller strategy was all about stewardship. They invested their time a very different way. They focused on family trust, ensuring that the stewardship and the legacy would be in place for multiple generations. They had multiple people in charge of various places or positions within the family so that can be passed on in those roles and responsibilities. Distributed their capital with discipline as opposed to just using it as a checking account. And they really focused on values-based education. Now, this is something that Jayson Lowe talks about a lot, that you can pass on generational wealth, but if you're also not passing on those generational values that go along with that, you could end up going from regs to regs, which is the exact thing that we want to prevent from happening. Now, in the Rockefeller example, they treated their wealth like a perpetual corporation instead of a checking account. I know that was just focusing on our friends down south, but understand that Canada has its version of this as well. So, two predominant families in Canada that were very similar, that the exact same thing happened to them. The first was The Canadian Vanderbilt equivalent was the Eaton family. So they were a retail dynasty. They also fell into the consumption trap as well. And then because they didn't have proper systems in place, the whole thing around them collapsed. And if you're looking at the name, for those that are familiar with the city of Toronto, yes, the Eaton is from Eaton's, which is also the Eaton Centre in downtown Toronto. And the other equivalent in Canada is the Rockefeller family, is the Richesses. Now, that's James Richardson and sons. Now, they approached it much different and also approached it like the Rockefellers, where they created a stewardship dynasty which lasted multiple generations and they really embraced long-range governance. As we're discussing these families, there's a couple of things that come up. Some of those things that come up is how they spent money. How they use money and what that process looked like. So naturally, we need to ask ourselves, what is a bank really? Because most of us are used to using them. Functionally, a bank performs a couple of core functions. They store capital, they lend capital, and then they earn interest on the capital that they lend. So pretty straightforward. Now the question becomes for us that are here tonight, Who is doing that in your life right now? Who is controlling that when it comes to the banking function? Since we now know what a bank is and how banks work, we need to discuss the real problem here of the leaking bucket. That's the analogy that we're going to use tonight. And what does that mean? Most people actually believe that their biggest problem is the amount of income that they're making, when in reality it's not. It's how much capital leaks out of their system over time. Because remember, time is a theme here that is going to keep coming up. If you think about every major decision that you've made and every major purchase financially, that could be cars, homes, investing in businesses, starting a business, education, it all involves financing. And that financing means interest because you don't have one without the other. Now, the key question here when we talk about that real problem is, where does that interest go? Because for most of us, chances are it's probably not coming back to us, or we're not probably not the one that's benefiting from it. And I can tell you that in the Vanderbilts, they spent their principal, but the Rockefellers actually recaptured the interest. You're probably asking yourself, what is the fix? Like, how do we stop the leaking bucket? How do we plug the leak? And that's where I introduce this man. This is R. Nelson Nash, the author of the book, Becoming Your Own Banker, and the creator of the Infinite Banking Concept. Some of you are familiar, probably familiar with this book already, but those of you that are not familiar with this book, you have an opportunity to read it. Now, the reason why I'm showing Nelson right now is because he really had a way of creating and making people understand the problem that they have financially in their life. And he entrusted us with that knowledge to pass on to help other people in their life. And for those of you that are unfamiliar with Nelson Nash, you can get to know him more at NelsonNashFilm.com. Where there was a documentary that was created about him before his passing. Now, one of the main reasons— other main reasons that I bring this up is because recently, although I never personally got to meet Nelson, his teachings resonated with me so much. You ever get the feeling that you've seen somebody so often and you've listened to them so much that you just feel like you know them? Although I never got to officially meet him in person, I truly do feel like I know him. And I am really privileged to be able to help people like the ones that are here tonight, what the problem is financially in the world right now and what the solution is. And I had an opportunity earlier this year and it was the closest that I got to actually meeting Nelson. I attended our annual think tank conference for IBC practitioners and that's held by the Nelson Nash Institute. I was honored by being invited by a group, a small group of our teammates at Ascendant Financial to actually go and see the final resting place of Nelson Nash and his wife, Mary. Now, the reason why I show this tonight is I think it's amazing that somebody can create a concept that talks about thinking long range, and they can pass on knowledge to people that can become good stewards of that knowledge to perpetually help future generations as time goes by. And I really had an opportunity to sit and resonate with that as to what that means to me and how I had to rethink my thinking prior to beginning and starting the Infinite Banking Concept. For those that didn't get to meet him, I just want to show you a small glimpse into the type of personality of the men, which is the main reason why we're all here doing this and we're all here tonight.

There's all kinds of funny stories out there when people think about them, about the guy sitting at the window and they're fueling up the airplane with the little yellow truck and so forth. They flew to the destination about 2 hours away and the guy looks out there and there's that same yellow truck. He said, man, that truck is fast.

Yeah, I wanted to just play that for you guys because that's a good glimpse into the type of personality that Nelson had. Even though he could be informational and pass on life lessons, he would also be comical at some points as well. You've heard me mention the Infinite Banking Concept, and you're probably asking, what is it? And I just want to right now clarify what it is and what it isn't. So this is right from Nelson's book on page 3. It is not about investments of any kind. It is about how one finances the things of life, which can certainly include investments. It is not about rates of return. As life— as time goes by, interest rates are up and interest rates are down, but the process of banking goes on no matter what is happening. Now, I draw attention to this because just think about the things that have happened in society all around the world in the last 5 to 10 years, even things that are happening currently right now. So there's lots of conflict and there's lots of turmoil around the world. There are a lot of bad things happening and things that are outside of our control. Unfortunately, what that makes us realize is no matter what is happening around the world, no matter what is happening in society, the banking function still has to happen. You still have to live your life. You're still going to need things day to day. So, it's important to remember that because even as things appear around us, as the world's coming down, even with a conflict as recent as what's going on in the Middle East, no matter what, this will still go on. You will still need the banking function in your life. What is this infinite banking concept thing you're talking about? I hear this a lot. And I'm glad, I'm really excited when this question comes up. It's a great question, and it's ridiculously simple. The essence of the concept is to control how you finance the things that you'll need throughout the course of your lifetime while recapturing the interest that you would have otherwise paid to someone else's bank or finance company. That's it. That's the concept. When we say it's ridiculously simple, the reason that it becomes an issue, or the reason why some people have difficulty with it, is because since the beginning of our existence and since the beginning of us aging and growing up, we've been told and taught that there's only one way to do something. We've been led down a system that was created not necessarily to benefit us, but a system that we fell into that was already there. And that's what we were shown. So, we just followed the herd and did exactly what everybody else was doing. If you think about it, like there's a reason why financial education, that literacy component, is not taught in schools. Do you use a tool or something to help us fix the leak? If you're talking about there's something that's a concept, there must be something else that goes along with it, right? And if that's the case, what is it? So I want to show you a small video that's going to be fantastic to preface this because you'll see that even people that have been doing this for a very long period of time All of us at some point will be, we will be at a different stage in our learning, and we will need to rethink our thinking so that we understand and approach this the right way.

One of the biggest aha moments for me after having read Nelson's book, Nelson invited people to contact him. If you have any questions, get ahold of me. And when I did, my questions were tool-based about the insurance policy. The attributes of the policy. And he— and again, I cannot imitate his voice, but anybody who is blessed to know him can just picture this when I say it—

he said, may I share something with you?

I said, certainly. And he said, all right, if you put the best tool for the job in the hands of an incompetent, not only will that person not turn out any good work with the tool, they'll likely break the tool. He said, this is all about a process. Not a product. I etched that permanently in granite in my brain. I began to change the way that I was thinking because people can get really excited, understandably so, when they develop an understanding about the attributes of a dividend-paying life insurance policy. But unless you understand the problem, the solution just won't matter to you. Nelson was brilliant at helping us to do that. And so after the first few times of reading his book, I needed that from him in order to shift my thinking so that I could really get focused on the process, not just the tool that's used to implement it, which just so happens to be the best tool to get the job done.

I couldn't have said that any better myself. And most of you are probably familiar, but that's— was Jayson Lowe giving a great example. And I, I show you that video because Jayson had direct access to Nelson Nash because Nelson Nash was his mentor. So it's important that we maintain that learning and integrity when we're talking about where does the message come from and how close are you to the message. And I think that's paramount to understand the origin of it and what we're really talking about here. So I really do enjoy what that was. And that's the main reason why I showed you so that we really need to understand what the problem is. Because if we don't understand what the problem is, then the solution just isn't going to matter, which means that the tool just isn't going to matter either, because we still haven't wrapped our head around: is there a problem? What is the problem? And how do I fix the problem? We've talked about and mentioned this already, right? We've mentioned the tool that we're utilizing, which is the dividend-paying whole life insurance. But we need to ask ourselves, why this tool? This tool has a lot of great characteristics and attributes, just like Jayson mentioned in the short video. And some of those are guaranteed components when it comes to growth and when it comes to death benefit. We've got the ability there to have growth inside of the contract. But even though I'm mentioning why whole life and we would use that, it's important to realize that this isn't about insurance. That just happens to be the best tool to implement This concept. If there was a different tool, we would be using that. The process and the concept is what matters. So it's not about using a financial asset that supports long-term, long-financing system. It's about using one that makes sense. It's important to ask this question because you're probably saying to yourself right now, okay, you're telling me a lot of stuff. You're mentioning a lot of things, but what are we really talking about here? Because that's why we're here, right? We know that there's something wrong. We know, we can feel it. We can't quite put our finger on it, but it feels we're taking one step forward and we're taking two steps back. And I've been in that same position. Remember, we've all started this process at some point, so we've all had similar experiences. What we're really talking about here, okay, is control. Control over the decisions in our life. Control over our finances, control over the legacy that we want to leave, control over what takes place in our day-to-day life. Because without control, you don't really have a lot. Taking the first step towards taking control, it isn't always an easy task. Sometimes you need help. So let's discuss and talk about what is traditional financing. What does it mean? 'cause most of us have probably been using it already or we're about to use it or we've had bad experiences with it. Whatever part that is, let's just figure out what it means. So realistically, traditional financing, right? It's the process of accessing capital from an external lender and you get that capital in the exchange for repayments that you'll make with interest paid on top of that, okay? By conditions and terms that are predetermined by somebody else. So, not a lot of control there. And these institutions, these external lenders, who are they? You can see there's a list right there. Most of us are probably familiar with banks and credit unions, auto lenders, mortgage lenders. These are people that probably we've had life experiences at some point in time. And those could have been good and those could have been bad. Since we're talking about the traditional financial system, let's just walk through a quick step-by-step of what the mechanics look like. So step 1, you need capital. What do you do? You need capital, what do you need it for? Let's just use the car as an example. So you need money to buy a car. You don't have the money sitting in a savings account. So what do you do? Step 2, you go to a lender. Now, when you go to that lender is going to evaluate whether or not you qualify for them to give you the capital that you're requesting. Now, they're going to look at several things. There's going to be lots of hoops you potentially have to jump through. They're going to look at your credit score. They're going to look at whether or not your income is sufficient. Lots of things. If you've ever gone and applied for a mortgage, you know exactly what I'm talking about. Now, a good teammate of mine refers to this process as a financial colonoscopy. Shout out, Neil Dietrich. Since we've got to step 2 and we've got to our lender, now we're going to scroll down step 3. So the loan's issued. So if we were good enough to qualify based on the underwriting that they did for us and they're willing to give us the money, we're either going to get that in a lump sum or they're going to give it in the form of credit. Either way, it's going to be based on an interest rate that they decided, terms that they decided, a repayment schedule that they decided. And how many payments you have to make that they decided. Now think about that. Does that sound like control at all? Because I don't think it does. So they give you the loan, so now you have to repay the loan. And when you repay the loan, you're gonna have to pay back the principal plus the interest. No one is handing out free money. And you have to also understand that all capital has a cost, even your own capital. So, when you think about capital, don't treat your capital any less important than the bank's capital. You can see here, step 5. So, capital plus interest is leaving your system. What does that mean? So, this is a key point here that a lot of people miss. The interest isn't just a fee. It's a transfer of capital from your financial system to the lender. You're not the one benefiting from this transaction. Somebody else is. Now, what if there was a way or something you could do that would put you in the driver's seat to allow you to control that process and benefit from it. Simple example, we're still using the car. We borrow $50,000. We then have to repay the $50,000 principal plus, in this example, $8,000 in interest. So that $8,000 in interest, that's the cost of the capital that we borrowed to buy the car, is now gone permanently from us. It's never coming back. It can no longer do anything for us. It can no longer work for us. It's no longer going to be able to be put somewhere and compound. It's been permanently gone. And once again, it doesn't benefit us. It benefits the lender because those that have the gold make the rules. This is what the flow of traditional financing looks like. It creates a pattern, and these patterns eventually become habits. Habits that we just fall in line with. Habits that we don't even realize a lot of the time that we're doing them. So in this example, you earn income, you borrow capital, you repay it with interest, and the bank is the one that's benefiting from the profits. So we need to understand that. I want to just disclaim this right now. Traditional financing is not inherently bad. It just is, right? We know that it's efficient sometimes. It's widely available, and it's necessary in many cases. And a lot of the times, it's being utilized because that's the only thing that we believe is available to us. We are not aware of anything else. And in this example, the question is not whether or not traditional financing is inherently bad. The question becomes whether we use it or not. If you knew that there was something better out there, that would benefit you, would you still do it? The question is how often and how dependent you are on the traditional finance system over time. Because remember, we talked about the patterns that are created, and those patterns become habits, and we start to perform those habits without giving a second thought to it. The real issue is the repetition, lifetime of financing those major things throughout the course of our life. Just think about the stuff that you bought up to this point. The amount of cars that you've purchased, the homes that you've lived in, credit that you've used. All of these things are facts. We need to pay attention to the fact that this ends up creating a continuous outflow of interest away from us and our family. And unfortunately, people don't realize that we need to focus on the volume of interest, not just the rate. We're putting the emphasis in the wrong place. This is what a controlled financing system looks like and how it works. You generate income, you put it into a system that you own and control. When you need capital, you borrow from it. And then just as you would pay back a traditional banking system, just like you would pay back a traditional bank from money that you borrow, you're going to pay back your own system that you own and control, and you're going to repeat the cycle. That's it. Because when we talk about becoming our own banker, We're talking about controlling the process of banking as it relates to our life, just like the banks do. If you believe the banks are profitable and they're successful, then why wouldn't we just do what they do and put ourselves in the exact same position of control? This is very important to realize. If you don't control how financing happens in your life, someone else does. Every teammate that's on this webinar with us tonight has heard me say this, guaranteed. I always say, if you're not in control, you're being controlled. Just let that resonate with you because that's exactly what we're talking. I just want to do a quick value check-in. If those that are here still on the webinar tonight, if you feel that— we'll do it a 1 out of 10. So 10, everything's going great, keep on talking, I'm glad I dedicated some time to have a conversation and learn some stuff tonight. Or 1, I'm sorry that you came, I'm sorry that I signed up, and I'd rather watch paint dry. Okay, good. This is a strategic water break, by the way, just so that we know. I've mentioned Nelson Nash, and Nelson was trained formally as a forester, and foresters are trained to think in 70-year cycles. So it's important for us when we're starting and we want and we need to think long range and we're starting to develop that mindset, we need to develop a forester's mindset to do the exact same thing. And the reason is most people are used to operating in 30-day cycles. Just think about some of the things that happen in 30-day cycles— bills, paychecks. Because our psychology is around those short cycles, it affects our ability to think long range, and it steers our thinking to short range. When you think like a forester, you build systems today that will produce outcomes for decades. And going back to our two predominant wealthy families, the Vanderbilts were thinking about the next party, where the Rockefellers were thinking about the next century. Now, I want to just take a minute here, not to pause, but I want to take a minute to step away from the theory, and give you a real-world example when we're talking about planning, preparation, and thinking long range. Now myself, I spent over 20 years in the military, and in that environment, planning isn't optional. It's the difference between success and failure, and sometimes worse. One thing that becomes very clear very quickly is no plan survives for First Contact as expected. But here's the part that most people misunderstand. The value isn't in the plan itself. The value is in the process of planning, just like we're talking about tonight. Because when things change, and they always do, you don't start from zero. You have structure, you have contingencies, and you have control over how you respond to that situation. Now compare that to how most people handle finances. There's income, expenses, maybe sometimes investments, but no integrated system. That integrated system is a problem. The problem that it creates is uncertainty as well as long-range thinking. If you're not planning, then you're planning to fail. So that's the biggest thing. That's the biggest takeaway. If you start to put the plan in place today, and you start to think holistically, it's all going to make sense. So we've talked about thinking long range, and one of my favorite sections in Nelson's book is An Even Distribution of Age Classes, located on page 71. It's important to look at that because it explains to us and demonstrates what a healthy system looks like and how it renews continuously, how to set it up so that it makes sense. Different stages serve different functions. And families can structure capital the same way, so they're not reinventing the wheel. Long-range planning is generational planning. And some of us have already mentioned generations today inside the actual chat. A forester, going back to the analogy and Nelson's training, a forester doesn't think in building cycles like every 30 days. They think and plan in life cycles. That's a big difference. You can't think long range and not think about future generations. Long-range thinking is not simply about leaving an inheritance. It's about creating a repeatable system that can be continued by the next generation. When families link, or when families think in generations instead of transactions, they begin to build continuity, capital access, and stewardship, which can be renewed over time. You can't have the thinking long range without the stewardship. We've been talking about think long range. When we do that, we have to ask ourselves and be honest. We have to honestly introspectively look and say and ask ourselves certain questions. And one of the questions is, what outlives me? What am I doing today that will carry on? It means deliberately designing that continuity and not convenience. And what does that refer to? It refers to not experiencing instant gratification, but delaying that gratification because you know that you're going to benefit your legacy and future generation. And sometimes that part of that comes with a little bit of suffering in the interim to benefit in the long term. It means understanding that every financial decision either strengthens or weakens the family system. It means viewing children and grandchildren, not just as heirs, but as future stewards, because you have to pass on those values. It means building something that does not need to be reinvented every generation. Now, I don't know about you guys, but I know my teammates know this. I hate doing things twice. I don't like to reinvent the wheel. So if there's already a path that's been laid that I can walk down and somebody can show me the way, I am more than happy to do that. And just remember, success leaves clues. So why think long range and why with the tool? We have to look at everything holistically. And that's the only way we do business here, because you have to understand what your objectives are and you have to understand what your goals are. But when you think long range, it forces you to go through that exercise to come to those determinations and to get those answers. If you've ever gone through estate planning or you've ever filled out a will, you'll know what I'm talking about. It takes a long time to sit down and go through the details, but it's an important step that we need to take. And we know that when we utilize this tool while thinking long range, we're able to protect our family, not just pass on assets, but ensure that we're securing a legacy while protecting our loved ones at the exact same time, now and for future generations to come. Now, this is what real legacy looks like. It's not just transferred assets. Because remember, regs to regs, it's not just death benefit being delivered. It's about that knowledge transfer to the future upcoming generations so that the legacy and all the hard work and effort that you've put in up until this point can live on. The stewardship is what matters. And if you implement that and you do it effectively, then the system will repeat. It will become perpetual and it will live on. And that is a legacy that you can be proud of. I want to just pause and tell you guys a personal story. And the reason why I'm very passionate about the stinking long-range concept and an even distribution of age classes is because, like probably a lot of you on the call tonight or on this webinar, sorry, my story growing up is in the inner city of Toronto, Ontario, Canada. There was no conversation around the dinner table about legacy. There was no conversation about estate planning. There was no conversation about, if I can think about it, anything financial whatsoever. Now, we were lucky if there was even a dinner table to sit around. And although unfortunate, if you can put something in place that will prevent your future generations from suffering the same way that you did when you grew up, look, there's lots of different ways to build and teach resilience. But if you don't start having these conversations now, if you don't start engaging with your family members and your children early, what are you waiting for? It's just going to become more difficult over time. If you make it these conversations and you make this part of everyday life, then they're going to want to participate and it's going to make it easy for thinking long range and for legacy planning. Now, the other part of the story that I want to mention is my mom passed away a few years ago now. And the reason why I tell you this is because I've lived and seen firsthand experience what it is when there's no real plan in place. So I, I just want you to think about that for a second. When people pass away, especially parents, that's some of the most difficult times and things that we're going to go through in life and experience. Why would we want to complicate that and make that even harder by not doing the due diligence and putting the effort in at the beginning to ensure that we know what your wishes are, how you expect things to be divvied up. But when there's zero plan in place and there's zero money to plan for anything, there's zero money to do anything, then you really have to jump into overdrive to solve that problem. Because now you're just reacting. You're not planning. You're not executing. You're reacting. I've been through that. I've experienced that. It's painful. If we think long range and we plan properly, then we won't have to put somebody through that in one of the most difficult times that they'll have to experience. Mentioning this takes us down a logical path. When you implement the infinite banking concept and you follow the path of think long range, where does it lead? It leads to estate planning. It leads to putting the things in place that will guarantee and create a legacy for us. Like I said, we look at everything holistically and it matters. So when you start to think about your estate, it's very important that you put the things in place so that it's going to be executed the exact way and according to your wishes. Now, I want you to just imagine for a moment, some time from now, that you're in a position where you become your own lender. Think about the control that adds to your life. And you can't, talk about estate planning, you can't mention whole life insurance, you can't do any of that stuff without mentioning taxes. Because we know that there's two certainties in life: death and taxes. So if you're not thinking long range, you're not going to be putting the things in place that are going to ensure that all of these areas are covered off. So although the tool is the tool, it just so happens that this tool has amazing attributes that we can also take advantage of so we can look after our legacy and our family while also reclaiming the banking function in our own life to finance those things that we're going to anyways. And that's going to create a lot of things for us. It's going to create liquidity, asset protection, and financial stability. Who doesn't want that? You have to look at everything holistically. In the military, we talk about planning. There's strategic-level planning and there's tactical-level planning. This is a strategic-level plan. This is the big picture. You want to bring all of this together so that you can benefit yourself and your family. Only by combining all of these key areas are we going to ensure that we can think long range effectively. Your legacy starts today. The decisions that you make deliberately every day will determine what that legacy looks like tomorrow. You can start to transform your estate plan utilizing what we're talking about tonight. The Infinite Banking Contract. You can protect and grow everything that you've earned over the course of your life, all the hard work that you've put in, all the blood, sweat, and tears that's gone into creating a lifestyle that you and your family have become accustomed to. Now, you should take action now. And if you're going to do that, make sure you consult with the right professionals to ensure that you craft a personalized strategy that stands the test of time and honors your vision. And what you want that to look like. That a good man leaves an inheritance for his children's children. And with some of you, that may— with others, maybe not, and that's okay. But once again, no matter what, someone will still perform the banking function in your life. And if you're not controlling that process, somebody else is. Thank you everyone for attending tonight. I hope that you got some value and some insights as to something that you should be looking at or how to improve and/or just confirmation that you're doing things right at this point in time. And if there's any, anything else that you can contribute or add to what you're currently doing, then that's good. That's fantastic to hear. And I hope everyone has a fantastic evening and yeah, so I'll let everyone get back to their time and take care.