An Infinite Banking Community That Builds Wealth | Wealth Without Bay Street & Wall Street Crew

You are listening to the Wealth Without Bay street podcast, a Canadian guide to building dependable wealth. Join your host, Richard Canfield and Jason Lowe as they unlock the secrets to creating financial peace of mind in an uncertain world. Discover the strategies and mindsets to a financial future that you can bank on.

All right, today on this episode of.

Wealth Belt, Bay Street. We are super pumped. Jason and I, excited to introduce two wonderful, amazing individuals, very good friends of ours. We, Russ, the idea guy, Morgan and Joey, the Italian style, and Mary. We love these guys. They're unbelievable because they have a rocking podcast, you may have already heard it called wealth without Wall Street. They're one of the inspirations for us to put this program together.

Wealth Without Bay Street.

We're very creative, and we're just so amped up to have these guys with us. We love hanging out with them. They're some of the best, most amazing people that we know. And, you know, we. We really would love to hear from you guys. Obviously, we talk a lot about infinite banking. Become your own banking, becoming your own banker, the process of that. And that's something that you guys have done an unbelievable job teaching so many families and business owners how to do. But we're always very curious to hear from our guests and from others. How exactly did you discover. How did you. How did. How did Becoming your own banker, Nelson's book, How did that happen for you guys? Would you be able to share that with us?

So the stallion will go first, and it's only because I'm sitting next to the guy that introduced it to me. So Russ. Russ and I were great friends, went to church together, and at some point he started learning about this whole becoming your own banker thing. And he read the book and he brought it to me and he said, hey, by the way, a lot of my clients are going to need help with mortgage. And that. That was my background. He said, I want you to read this book. And by the way, I think you should check it out anyway. And here you're going to pay me $20 to buy the book. And at first I was like, okay, I'm a little awkward here. Like, you're charging me for a book that I didn't ask for. But I said it must be good. So I went ahead and read it. And shockingly, I was blown away by the concept because I was at the point making great money in mortgage and started thinking, I've got these two little girls at the time that they. I want to start putting money away for college. And so I started looking into all the different various ways to do that. And of course 529 plans were the answer everybody kept talking about. And I started looking at them. I said, I'm just not comfortable with these.

Right.

It was just after 2008, any market based assets that I had had just lost a ton of money. And I said, well, wait a minute. They just want me to put more money into market based assets so that they can lose money. And it's supposed to be for my kids college savings. That doesn't make sense to me. Nor do I know my 3 year old or my 1 year old if they even want to go to college. Like I can ask them. And they don't even know what the college is at this age. So nothing really made sense. And so I learned about this through Russ and I said, this makes all the sense in the world. I can put money away and I can use it. In the meantime, if something comes up, that is a great opportunity, which just happened to be the opportunity for me to come work with Russ and start this business. So that's how I got introduced to it, guys.

I don't think I've heard him give me this much credit for anything in my life. So I just.

I am so savory flavor that this.

Is something that is going to be recorded that I can refer back to because I get so much grief around this place.

You still owe me $20 back for the book. But I mean, whatever.

Oh my goodness. I think I'm probably still waiting on that 20. I think it was like, okay, I'll buy it.

But let me, let me catch you.

Up on that another day.

I can see you playing this recording at like every one of his birthday parties or just like that little and every staff meeting.

That's right.

You remember time that Joey said a nice thing?

Well, I can tell you this. I have a little bit different background where I was already in the financial community. I was a certified financial planner. I kind of refer to myself as a recovering one now. But I had gone through, I'd done all the mutual funds, the IRA, 401k stuff that's here in the States. That was the planning that I knew. I thought I had it all figured out. And obviously the market as it crashed in 07 and 08, it showed me how little I knew. And that's where I showed up at this conference in January 2010. And I hear this man on stage talking about this idea of how you can take control of your finances. You literally can borrow money from an account that you own. And you can be in charge of it. And I thought, man, I've heard this man say this now for four straight years I've been at the same conference and every time I'd ask somebody what this was about, and they said the words whole life insurance, my brain would just shut down and just shoo it off as like, well, man, the only reason somebody would buy insurance or sell insurance is because they're not smart enough to have a securities license. That's literally how arrogant I was at that time. But you know, it's funny how the Lord just humbles you in very quick fashion. And I had been humbled. And so I'm sitting there January 2009, at this conference, and he gets off the stage and I thought, I'm gonna follow him. And somebody said, well, there's actually a breakout right around the corner here. And I went and sat in it and I learned and listened and I said, I'm gonna buy that book. I'm reading this book all the way back from. It was in Orlando, Florida, all the way back to Birmingham. I finished the book because it's about two hour flight and I finish it, I turn it over in the back of the book says, Rocky Ridge Road, Birmingham, Alabama. Well, if you didn't hear what I just said, I flew from Orlando, Florida back to my hometown, Birmingham, Alabama, and realized the man who written the book that I'd heard Speak, that had an amazing message, lived in my backyard. And that just opened up a world of opportunity and lots of other things from there I'm sure we'll talk about.

Thank you guys for sharing that. And the first time that I saw Russ speak was at a annual Infinite Banking think tank conference in Birmingham. And I'll never forget thinking to myself while I was sitting there, so you were at that conference as well. And I said, I'd love to be on that stage someday because the message was so powerful and the talk that you gave that day still resonates with me.

Wow. I do remember us talking afterwards. Yeah, I know. This is awesome. I love it. Keep it coming. I mean, my ego is not big enough. I lavish those comments. Just keep bringing it.

So, guys, tell us a little bit more about, I guess, the genesis of your podcast and some of the really exciting things that we were discussing before we went on air and what you're doing to build community within your growing, rapidly growing client community. So maybe share with us a little bit about the podcast and some of the things that you're doing to tie.

Your community together and what made you decide to start the podcast in the first place. That's something that, you know, I think I know. I'm personally very curious about, so I'd love to hear that from you guys.

Well, I wish this is something I could take credit for. Joey can't either. We actually had a young guy in our office that was involved in lots of different things, and he were listening to podcasts constantly, and we were sending him off to learn about different marketing ideas. And he came back and he said, guys, we need to start a podcast. And I'd be honest, I didn't. I'd never listened to a podcast up to that point. I didn't really understand the medium. I'd been on radio several times before, but I didn't know. But as we sat down, the three of us talking about it, we said, well, if we were to do this, what would be our message? And it became very clear very quickly that we had gotten to a point in our business where being able to talk to our best clients, or any client at all on a regular basis was just impossible. And I missed those moments. I missed those times where when Joey and I were working together early on in my career where we could talk, even through work, on a very frequent basis, and we would always hear that from our clients. That man, you know, when, before I started working with you, the advisor I had in the past, we did some business, but I never heard from them ever again. And then at the same time, we were having conversations, amazing conversations with different investors and people doing just awesome things all over. We were like, oh, man, this would be a great idea for Jason, and I should share this with Jason. But, you know, unless I pick up the phone and call Jason at that point in time, we don't really talk about it. And. And I can only have it with four or five people, and maybe I'll have it with the next three or four or five people I meet with over the next week. But it became real evident that what we needed this podcast to do was to have a weekly conversation with the people that we really like and we really want to help, but had got to a point in our business, and I think that was a fail in the financial industry as a whole, is where people start becoming successful. Then they actually. They don't have anybody that they can't talk. They don't have enough time to talk to the people they really want to help. And for us, it just became a really easy way for us to have a weekly conversation and share just amazing insights with the people that we really want to help the most.

Yeah, it's amazing.

Yeah. And it really just ended up. At first, it wasn't one of those things. Our clients that weren't used to hearing from us like that, so we would check in with them. So, hey, yeah, we have our regular meeting, maybe, and we say, yeah, have you been checking out the podcast? What do you think about this? And they're like, what's a podcast? Like, I don't know what that is. Or we're like, okay, pull out your phone. It's that little purple circle right there. Subscribe now. You can listen to us. Whatever. So it wasn't like an overnight. Oh, everybody wants to hear from us like this. But it definitely was the heart behind it was. We want to make sure everybody's getting consistent message and hearing some of the, you know, the great conversations I would have with Russ or with this client or that client, we could then share those stories so that everybody could hear it.

It's a great way to transfer it, because the more clients that, you know, that we help and that embrace this process, the more difficult servicing becomes. Because initially, when we all first got started, we had all the time to communicate frequently and effectively and to stay in constant contact. And then as that started to pull away with more and more clients coming on board, I think that was a big tug for us, too, because we had those discussions around, how do we get great ideas? How do we transfer best demonstrated methods of implementing this process? How do we do it in such a way where even if it was possible to have the conversation, how do you archive it so people can go back to it? Or you can refer to it with a client where you say, oh, you know what? I think episode five of that podcast that we did with Russ and Joey, you're definitely going to want to tune into that, because Russ is such an incredible, amazing guy and the insights that.

He shared on that show.

I just think what you guys are doing without Wall street is phenomenal. How do you see that tying into what you've been doing on Facebook and the community there? Maybe share with listeners how you've glued all of this stuff together and just made it really convenient for people to communicate in a community and maybe lead us through some of those innovative things that you guys are doing?

Like you've been stacking Lego blocks together of these different components and building something really incredible. And so we just kind of want to hear how each of the blocks came together.

Yeah, Well, I think the podcast was definitely the first step because it allowed us to Have a more scaled way of communicating, as we've mentioned. But then we realized, okay, there's other things that we should do. And that, that led us to having like a video archive of some different micro, maybe some 201 level type of implementation or ideas to this concept that needed a more visual representation because just the audible, like we could talk about it, but people needed to see it. So we were able to create some different video series and things of that nature. And then we added some other resources. But then we've realized, okay, they're all over the place, like somebody were onboarding a new client. We'd say, okay, well then you can go to Facebook over here, this is where we have a chat feature, blah, blah, blah. Then we have this video series, it's over here on YouTube and then it's on this click funnel site. And then you have to go over here. And it was just overwhelming. It was just way too much all in all in different places. And so what the natural progression was, well, how do we bring all those things into a centralized platform? And so that's really where our community app was born out of. And as we mentioned ahead of time, Richard, it was actually all your idea. You didn't know it, but we use.

Would you mind it here?

Well, here's the thing, is that when you're listening to a podcast like this and you're hearing great ideas, sometimes great ideas just end with great ideas. There's, there's never that instruction that leads to action, that leads to results. And that's really what you really want is results, right? Listen to a podcast like this to hear an idea that actually tells you what to do and then ultimately you do it and you see the result and now you have the win. And that's what we were trying to accomplish. But the thing is, is that we know that we are not that great. Like individually, we have a very thin expertise in very specific areas. And the way to create wealth, the way to sustain wealth is through other means. And so the process that we wanted to do is bring very smart people together and we wanted to be able to do it on a regular basis. I commend you for creating this podcast because with us withstanding, you're going to interview some amazing people that can have tremendous value. And through that your audience is going to be able to take those ideas and hopefully connect in a way that's going to allow them to lead to results into what they want. And that's kind of what we found is our podcast started initially us thinking through just certain ideas, conversations our clients wanted to have. And then we started listening to, hey, I really want to build passive income streams. Right. I don't want to always have to go to work. And if I, if I do, I want it to be because I want to do it. And we're like, okay, well we better like figure out some other ways to do that. So we started interviewing people in the real estate space. And then, then that led us into places where people were doing lending and they started talking about that. And then we started creating this business ownership community who really wanted to figure out ways to be more passive and their ownership of the businesses they were running. And that really appealed to Joey now because we were like, yeah, I want to be more passive in our business.

Exactly.

And so it just, it just allowed us to start doing that. So this community that started to form first on Facebook and then we built kind of an online subscription based business that allows it to be more open and a lot more dynamic and everything can be housed in one place and doesn't have to have all the cat memes. And what happened, you know, with Britney Spears that weekend on it, unless Joey posted. I mean, you know, like, I have to like censoring sometimes. Like, come on man, let's keep this thing work related here. But the, but that then built this whole community to where now we literally, it's amazing, we get to rub shoulders with some of the smartest minds in the world and we get to look good because they're really helping us here.

Well, most of us, yeah. But I'll tell you, we have a lot of stories about how that collaboration has totally changed the future for so many of our clients. And I don't know if we have time to get into all those, but I'd love to share at least a few of those. So, like, even today we actually had lunch with a client and he was telling us he's been doing ATM investing for 16 years. I didn't know that. I don't know if you knew it was that long he's been doing it. And he was talking about another one of our clients who just opened a coin op laundromat. Well, I knew he had done that with his infinite banking funds. He went and he started a coin op laundromat. Well, he collaborated with this guy and that guy said, hey, you know what you need? You need an ATM machine in the coin laundry because. And we're going to make it $10 bills that it spits out so that they can use it for their Laundry instead of the 20, which would be way too much to get all those quarters back or whatever. And I was like, wow, that's pretty amazing. Like, he just collaborated with another client and taught him something that is going to enhance his laundromat that he's also doing with this IBC funds. I mean, this is amazing how this just happened. And it's just because they're in community together, like, they're learning from each other and they're sharing ideas. So I don't know. That was the most recent one I just heard today.

Yeah, well, I mean, there's all sorts of those ideas. I love just hearing the stories of some of our clients taking action. Yeah, there was another meeting that happened really recently where we had a client that heard one of our podcast guests that was talking about something really kind of out there. It's called land flipping, where somebody is actually buying and selling raw, vacant land. And Joey and I had interviewed this. This guy, Mark Podolski, who runs a podcast, the Land Geek, and we'd interviewed him two different times, but this. This individual, heard him back in January, loved the concept, took action in February of this year, started buying raw land and selling it. And Joey and I, by the way, are getting involved in this now. We've actually enrolled in his flight school. And he's telling us about how he's been doing this now for, I don't know, what, 10 months?

About eight or nine months. Yeah.

And to a point where his wife, they just had their third baby, and his wife is wanting to be able to stay at home more. She was a nurse, and because of the revenue that they've created through that strategy is like, you know, come March, whenever the, you know, we're at the point where she's going to be able to quit working and she's going to do this land flipping. And it was just like a really cool story to hear the fact that he had heard that on our podcast. He immediately had access to funds because he's using his insurance policies as his funding mechanism. And now it's led to a point where his wife is going to be able to quit the job that she was working at to stay home with her three kids. And he's like, man, this is amazing. It's just like there's a story of where exactly what we wanted to happen actually happened through the podcast. And I'm just excited for you guys because you're going to have those same experiences.

And it's a real testament to Nelson teaching us all that when you have Ready, access capital. You literally become an opportunity magnet.

That's right.

And you're amplifying that by big time.

You're showing your podcast what these opportunities are that they may not know exist. They're undiscovered, at least to them. And so by. By just opening the doorway of discovery, people don't know. Sometimes you just see a wall. You don't know that there's actually a bunch of hidden doors in there until the door, it gets cracked open and light comes through. And so now you're able to actually showcase that to so many of your clients, and the people listen to the podcast, and it's like, oh, wow, I have all this access to capital inside all these policies in my family. Like, geez, I kind of. I like land. I would like to go do that. And it's. You just never know which is the. Which is the one item that's going to hit home for that individual. Because they. They're working on their deal filters to figure out which is the right deal for them. And you're just like throwing deals across the desk all the time because of the types of people that you're interviewing. It's unbelievable.

Well, and we learned a long time ago there's this function in our brain that's called the reticular activating system. And it's just this concept that. Which our brain can only process so much information without getting tired. And so it sees thousands upon thousands of thousands of things every single minute, every single second. But it doesn't let all that information through to our conscious mind because we would just bog down really quickly. So there's 10, 20, 30, 40 pieces of information that comes to us, and it can be very random. Like, for me, I look at the clock and I see 11:11 on the digital readout, and I recognize it. And it was just something. Because I was a kid, I saw that, that number and I thought it was cool. So every time I see a clock that says 11:11, my brain says, wait a second, look, 11:11 for you. It may be the car that you're driving, right? You buy that car for the first time, you get in it, and you start driving around, you realize, wait a second, everybody else owns this car too.

I thought it was.

I was only one, right? And it. It's because when you bought the car, you told your brain, this is important. And so your brain starts saying, hey, by the way, look, there's another one, there's another, there's another one. And sometimes, at least to depression, you're like, well, Piss. I'm not as unique as I thought.

That speaks perfectly to one of the things that Dan Sullivan from Strategic Coach says all the time. That your eyes only see and your ears only hear what your brain is looking for.

That's right. And when you say. And when you tell yourself something's important. So kind of to your point, Richard, is when. And yours too, Jason. When you talk about having ready access capital, you have money sitting in these insurance policies, and then you start listening to podcasts like ours and you think, okay, wait a second. My job is to look for opportunities, and I have cash, so that means I can take advantage of opportunity. Wait a second. There's an opportunity, you know, But I mean, I will say there, you know, you have to be careful, right? I mean, Warren Buffett is famous for saying that he has a hundred deals that come to him every single day. The hardest job that he has is saying no 99 times. And that's the part that we do have to get. But sometimes people say, man, I never see deals. I never have opportunities. But it's because they've never told their brain this is important.

Well, and I'll add, our guest last week on our show is a client, and he's been a friend for a long time. But when we interviewed him, he. He said something that was profound, but it's so simple. And I think we all know that this is happening, but the way he said it just really stuck out to me. Wall street, or in your case, Bay street, has taught us to give up access and obligation to our capital. Right? We're giving up. We're abdicating that to somebody else, that function of investing or in growing our money. So when he talked about his whole transformation was going from that kind of a mindset to one day the bank saying, hey, you can't have the equity in your house, kind of woke him up, and he's like, wait a minute, this is my equity. Why don't I have access to it? So when he started his policies and he started look at his capital differently, he said, all of a sudden I realized that the capital that I had built in these policies was waiting for me to tell it what to do. Once I understood that, I had to go to work educating myself on where I was going to tell it what to do. And so that, to me, is just like a game changer. Now all of a sudden, he sees opportunities everywhere. But how many times, Richard, Jason, you guys have been sitting with a client and they ask you, so, hey, so how do people. What do People do with their policies.

Yeah, Right.

All the time.

All the time.

I mean, that's a common question, right?

Yeah.

Well, what are other people doing? People are looking for opportunities and ideas because they've never even stopped to think about it because they've never. They've always abdicated it to somebody else. And I think that's the biggest thing that we're doing is we're empowering people to tell their money what to do.

Great statement.

I love that. And the both of you talk about how the Wall street mindset, which the Bay street mindset is the very same, really.

It's just got a few more A's and a boots in it.

Separating families and separating families, entrepreneurs, business owners away from their money. Now, this podcast also helps to provide education. Nelson said it best all the time that you have to catch this. It cannot be taught. And so this is just another medium and mechanism of sharing knowledge and sparking something in someone to say, I need to discover more about that. Something's triggering to go deeper. And the this, we just commend you guys for the work that you're doing with wealth without Wall Street. We encourage all of our listeners, be sure to subscribe to wealth with Wall Street. You'll be glad you did. Russ and Joey, they're just really entertaining in how they educate and inspire people to create wealth and not have to rely upon instruments like mutual funds and other types of things where you just hand control of your money over to someone else. And so for the both of you, in your own journey with the process of becoming your own banker, the infinite banking concept, what have you seen recently that you didn't see previously? Because Nelson used to say all the time, the more that you see this process, the more that you'll see you didn't see. So what has something been for the both of you recently in your own journey with becoming your own banker?

Well, I would tell for me that there's a specific page in becoming your own banker where Nelson would talk about how our income should equal our premiums.

Page 48 and 49.

This is a very, like, mysterious page pages, because in our minds, it's like, okay, wait a second, I want that. But practically, how does that work? And I can remember us sitting down with Nelson on many occasions, and we'd always try to be like, okay, Nelson, tell us a little bit about how this works. And you know Nelson so well that he, you know, he never gonna give it to you like that. It was always like you said, he's gonna have you catch It. And it's funny how as Joey and I have done many things over the years, we've come up with these ideas and like, look, this is an idea. And then we go back and we read it in one of his books and we're like, it was always there.

It was Nelson's idea.

That was his idea. Just like the new community we built. We're like, this is a great idea.

We're.

Wait a second.

Richard told us about it.

But one of the things for me as it relates to that pay those pages on creating income to equal my premiums. I really didn't know how to practically make that happen. And I've been doing infinite banking now since 2009. My wife and I have acquired 19 different policies, own policies on all my kids, my wife, own policies on this guy here, Joey, on an employee, my wife's former dental practice. And it's one of those things where I've been using it for all sorts of things. But I'm going to give credit where credit is due. My business partner showed me an idea of how to make this actually practically work. How can my income truly equal my premiums? Would you like to know how to do that?

Yes, please.

Sure. Alright. So I've been borrowing against these policies to buy assets. Now I be full disclaimer. I bought a few liabilities along the way.

Okay.

There's been a little bit of lifestyle creep that's happened over the years, so I won't say a perfect in that, but I've been trying to be diligent making my loan repayments. But as money, you know, as you become more successful and hopefully you're living below your means, meaning you live in less than what you're bringing in. We all get busy and money's really easy to pile up in checking accounts and that will happen. And so I, you know, but I always will then take money and I'll make a loan repayment. But I'm always wondering like, oh wait a sec, what's coming up? Do I need to hold on to some of this? Because I don't want to have to send it in and then come bring it back out. Well, Joey showed me a process that I've just now implemented. I'm just so stoked about it. And here's the, here's the deal. So I amazingly did a budget. I figured out exactly how much I spend, which I have to go back and lower that number somehow. I don't know how we spend that amount of money every single month, but we do. But I know what my number is. And so every single month going forward, I'm literally going to take a loan for my insurance policies against my insurance cash values for that specific money and deposit it in my account. And every single dollar that I get paid, regardless, less or more than that number, is going to immediately get sent back as a loan repayment. Now, this works because I have fairly large loan balances, right? Because I have other assets, apartment complexes, business entities, lake homes, you name it, we've created it. I've created plenty of places for windfalls, as Nelson would say, in the future, But I've created a really simple way for me to handle my cash flow. So literally every dollar I make, I am sending it back in the form of a loan repayment, which ultimately is paying new premiums on policies as they come due. And because of that, it's given me an opportunity to say, you know what? My cash flow is going to be much greater than what this payment is. And so I'm actually opening up two more policies to put that additional cash flow in. But for me, that was the most recent kind of aha moment. And Joey's the one that taught me. So if you. If you are interested in seeing what we're talking about, Joe actually created a video Income Equal Premium. You can go to our YouTube page and you can catch a glimpse of what we're talking about.

You know, I. Go ahead, Joey.

Well, I was just going to say that was one of those things that I had been pondering for 10 years. So if you're talking about the process that Nelson mentioned and that you constantly learn what you don't know, you're getting closer. I like to think of it like you're at the end of a tunnel and you're looking out the other end, you know, maybe under a bridge or something like that. And you can only see so much, right? You can only see the outline of that, the other end. But as you walk down towards the other end of that tunnel, all of a sudden things start to come into the clear that were always there, right? It's not like something new has appeared. It's just your perspective on it has changed. And. And so that, to me, was one of those things that Nelson, I will say this is. I've always mentioned this. He's like Jesus in the sense that he never gives anybody a clear answer, right? He would give us a parable just like Jesus would. And half the time the disciples would look at each other and say, do you know what he's talking about?

Somebody needs to Think about this.

Exactly, exactly. And so I'm grateful that he never did that. And I was also frustrated with him. But that's no different than the way the disciples were. And this was no difference. I needed to kind of come to this kind of realization by thinking about it. And so, yeah, I'm grateful to Nelson. And that's one of our newest things.

I will say that is amazing and expand on that by sharing. So this will be really interesting. So we do exactly that on a quarterly basis, both personally and corporately. And so through our system of policies that we have in our family. And we're at number 44 with number 45 in underwriting on one of our key team members here. So once a quarter, precisely the same approach, we look at exactly what we need for the upcoming quarter, we access a policy loan for that, and then all of the revenue to the greatest degree possible flows back into the system. And one thing that struck us was when David Stern's on the Nelson Nash documentary film, this is Nelson Nash, which you can also get on YouTube at no cost. Great film. One hour documentary film. David Stearns, who is the president of Infinite Banking Concepts and a board member of the Nelson Nash Institute, he said, this is a lifestyle, it's not a financial plan. Becoming your own banker is meant to be a lifestyle. And so to hear the both of you share that is just. It is just awesome. And it's ridiculously simple. It's ridiculously simple.

It is ridiculously simple. And by the way, the next time you have a great idea like that, share it with us quicker. Okay? I had to learn it from him.

Well, you know, I guess the connection that I did not make was how this relates to income equaling premium.

Yeah, you didn't connect it to the same page in the book. You just started doing it.

You helped me think differently about that today. And I appreciate that, you know, because clients ask us all the time, how is it possible that Nelson had 48 policies in his program at one time? And when is the right time to add another policy? And why have several policies? Because people think transactionally that, okay, if I'm going to do this, and I'm as excited about it as I believe I am, I need to go and build Rome in a day. How do I get all my money into one policy? Tomorrow afternoon.

Right.

And it just doesn't work that way. It's not a get rich quick scheme of any kind. And it's about taking control of the financing function, the banking function, as it relates to your needs and What. What Russ and Joey just described. Be sure to. What's the resource again, guys? To get that on YouTube? It's just.

It's just called Income Equals Premium. And I think there's a reference to becoming your own baker in the title. Um, forgive me, I don't remember exactly what it's titled, but something along the lines of income.

I'll look it up for us. It's on our YouTube page. The local Wall Street YouTube. I'll get it to us before we get off.

Details. Come on, details.

We'll stick it into the. In the show notes so that way everyone is listening will get a chance to click into it because there you go. That's a phenomenal resource that you're sharing with, with everybody. And. And thank you for also being able to share it to our listeners. I mean, that's amazing. So I. I'm really curious, you know. You know, we talk a lot about your podcast and how it's grown. You guys have been doing this. I think you're. You're just over two years now, roughly.

That's right.

And how roughly. How many episodes are you at? You just recorded one here, released one the other day. How many episodes you had now?

I think like 110, maybe 108.

Oh, man, that's awesome.

Congratulations.

Something like that. So it's been every. Every. Every week.

Okay. Now, how would you say, you know, that doing the podcast, committing to the process, because that's a big part of it, it's a. It's a lot of work and going down this road, how would you say it's helped you expand the 10%, help to grow, you know, Nelson's legacy in that way? Is there anything, any takeaways you have from that with what the podcast maybe will help you guys do?

I think at the end of the day, the 10% are people that already think like us. They just don't know that we exist. And so when you are talking about taking back control of your finances, people inherently know that. That's right. But they just didn't know it was possible when you. So we've kind of tried to sum it up into three steps, if you will. And so the first is take control of your finances. And part of that is laying this foundation with the infinite banking concept, getting your cash into a position to then tell it what to do. Right. The second step is pick your own path. Everybody, I don't think inherently wants to just let somebody else do it, but they just think that that's the right thing to do. And Then they realize, wait a minute, this just isn't. Again, it doesn't feel right. So I would like to pick my own path. I would feel better if I was investing in things I knew and understood. But what else is there, right? Wall street or Bay street is the only option. And then the last thing is get there faster. And nobody would disagree that they want more time, freedom, more freedom of options and even where they geographically live and work, but they, again, they just don't think it's possible. So when we start talking about that on a national or international platform like a podcast, people. People just start raising their hands, right? And they say, you're speaking my language. I mean, these are like the words that come out of people's mouth when they set an appointment with us, and then they come and talk with us. You're speaking my language. This is what I've been looking for. It's one guy put on a comment, he said, it's like, you've been in my head for the last several years. You know, I just didn't know you existed. So, yeah, this is, It's. It's not necessarily changing people. It's just bringing the people together. And the podcast is. Just has such a farther reach than anything else we've ever done.

Well, the fact that you're listening to this podcast puts you in like a 10 percentile of people already because this is still a medium. Even though it's been around 10 to 15 years now, it's still a medium that's fairly infant in its. In its life cycle. And so I just, I love the fact that this is a very easy way. I mean, many of us binge watch different series. Like, I really got into that Jack Ryan series that came out on Amazon. I couldn't. I watched it and then it was gone. And I waited for last year and a half for it to come out, and I watched it in two nights, and it's like it's gone again. And these podcasts are like that, right? So you're. As you're listening to this, this is episode five. You guys said you're going to probably listen through ten more in the next ten hours. Your spouse is going to be looking at you like you're crazy. What are you listening to? But you're going to get so pumped up, you can get so fired up about this idea of taking control of your money, you're going to say, we got to do this. This is what's going to lead us this time. Freedom that the stallion just mentioned there, and that's where I've seen that 10% start to grow into. To catch fire is that there's just not a ton of this information out there, but, boy, we're hungry for it and, man, we want more of it. And when you get somebody who can talk about it in a way that's actually interesting, when you get to listen to the two of you, I mean, I'll sit here and just eat popcorn and listen to you talk about anything, much less, you know, finance. But it's just amazing that this is a way that we can. We can get the message out quickly and it can be listened to as you're riding down the road, as you're running on a treadmill, as you're playing golf, whatever you do. And it's just such an easy platform. We love how this podcast has opened doors to so many different people. And as Joey mentioned, international. We're big in Bali, by the way. Yeah, I think we exploded like three downloads in the last three months in Bali.

We have to plan an on the road show. I guess you guys gotta pack up all your gear.

That's right. We gotta make meetup. This is just a. All vacations. Going forward now is really a business expense to me to have a potential meetup with one of our listeners from that region.

Yeah, there was a number of people in Turks and Caicos. I think I'm gonna have to go there for sure.

Exactly. Okay.

That was, you know, one thing that, that Joey said that coincidentally recently, I was at a genius network event, Joe Polish's deal that he's got going on, which is a phenomenal community and a great event. And there was a panel of copywriters that were talking about and responding to questions from the group around how to write good copy. And one of the copywriters just said, you know, the best copy is where you're able to enter or join the conversation that's already going on in your prospect's mind. And so you guys said it perfectly, where you have people coming back to you saying, you were literally in my mind. This is what I've been thinking, and you're speaking my language. And this message. Even David, when we were chatting with him in the interview, David Stearns from Infinite Banking Concepts, and he said, there's something going on out there right now with Infinite Banking. Like there's a. It just feels like there's a real tipping point happening.

Felt that the, the. There was movement, there was something was stirring, you know. Yeah, those were in the underbelly of the financial world. And he may not have said underbelly, but you could just see the look on his face. It was. It was something palpable like he. He just. It was a feeling. Sometimes you get a feeling and you. You can't shake it. There's something going on there. And, you know, I think that, you know, a lot of. A lot of that credit goes to the kind of work that you guys have been doing. You know, you're two years into this now, 110 episodes, you know, lots of downloads. That. That's the kind of thing that I believe is going to really help us as a community of individuals. And the authorized practitioner space really help to launch towards that 10% number and help people really embrace this.

This.

This concept of becoming your own banker. The process of doing. Doing it, the implementation of it. We're talking about implementation ideas. You guys have given us a couple today. And the more and more we have people doing that, the easier it is for someone. Gets that doorway cracked open a little bit. Boom. I learned about Infinite Banking. And all of a sudden it's like, now you're in that tunnel that Joey's talking about, and all these other things become exposed to you that weren't there before, and it's just like a whole wide, wonderful world of finance that didn't exist to you previously.

And it happens in collaboration, right? I mean, Jason, you put a post out there not too long ago on collaboration. You were quoting Dan Sullivan, and it is amazing. That quote I remember because I repeated it not too long ago to a group that we were in that was collaborating in what would have been mostly a competitive environment. But the quote was, if you're not collaborating, you will be left behind. And I think as you're listening to this podcast, and I hope you'll go listen to ours, I hope you'll listen to others that exist out there on this space, is that we, this medium, this opportunity to learn from many different people is such a collaborative space for us to share those ideas. And it's. It's funny because the way that I will say something 99% of people like, I don't know what that redneck just said, then Joey will say it and. And they'll be like, makes perfect sense. And it'll frustrate me, and vice versa. But it's funny, just the littlest things, just as an example. So my wife, you know, I would tell her about Infinite Banking, I would tell her what we were doing, and she still would never understand. And I would talk about it, and she'd always Ask me. The question was, why do I have to pay back these loans if it's my money?

Right?

And that was the most common question she would ask. And I remember one day, I'm sitting on the couch and I'm walking, watching this video, and it's these two kids talking about how they had borrowed money to pay for a barbecue grill, very expensive barbecue grill for their dad, and how then they went and actually had some little side jobs, and through those jobs were making money to pay back their insurance policies to replenish the money they used to pay for their dad's birthday present. And my wife happened to come sit next to me because she was interested in what I was watching and the fact it was kids and we have kids. And she was like, huh, wonder what this is? And they, they. They go through their two and a half minutes. It wasn't actually that inspiring at all, be honest with you. But I was like, cool. And she looks at me and she goes, oh, I get it now.

What are you talking about?

I've said this same thing. So much better. But she got it. I mean, because it just happened to resonate. So the. The collaborative space, listening to these podcasts and being able to hear what we're talking about, about from Infinite Banking, and sometimes reading the book doesn't connect with people. Sometimes it does, and sometimes it's listening to a podcast that then relates back to the book. Just like, Joey and I would do something and read back Nelson's book and like, ah, I got it.

Yep. And repetition is often our best teacher. And so that's why we always tell people, you got to go back. And when was the last time you opened Nelson's book? You know, I'll say no. This book pretty much fits the perfect.

Size for the back of the toilet tank.

If you just set it there, you'll probably. You'll probably burn through that book maybe two, three times a year. I mean, really, if you won't, your husband will, you know, like, it's, you know, because it's. It's something you got to go back to on a regular basis. You pick up one page, you're going to get value. That's.

Do a YouTube video about that, Richard.

That's right.

Yeah.

Just hand sanitizer next to it.

Okay, on that. On that note. So that's Russ, Morgan, Jordan, you're a Wealth Without Bay Streets. So amazing to have you guys on our episode today. Thank you both for being here to all of our listeners. Please tune in to Wealth Without Bay Street. Make sure that you subscribe to our podcast. Well, if you're already a listener, you probably do. If you don't, you should. But you should definitely subscribe to Wealth Without Bay Street. Two amazing guys that they're just doing so much to, to help families, entrepreneurs, business owners across the United States and now Canada. And we appreciate them both very much. Now, one quick question before we part ways, gentlemen. One of the things that we do in each one of our episodes is we talk about who do you want to be a hero to? Now, to put that together, not all heroes wear capes. And so you might not think of yourself as a hero, but every time you create value for us, for others, you're benefiting people and making life easier or better for them in some way. And by identifying, I guess, the key audience that you want to create value for, you focus yourself on the most crucial people in your life and helping them to grow their capabilities. And so my question to each one of you is, who do you want to be a hero to?

Oh, he.

So the big ideas over here is telling me it's my turn. So I wouldn't be consistent if I wouldn't say I want to be the Italian Stallion, I want to be the Rocky Balboa of the finance world. Right? I want to be the hero that's the underdog. The underdog is IBC in this world. Right. We're definitely a small community, but we got a lot of power, a lot of punch. And we need to let America, and in this case North America, know that we exist and that there is a way out and that we can defeat Bay street and Wall street just by taking back control. So I want to be a hero that is helping to get that message out to all of North America. So thank you guys for this. By the way, I also want to add this. If you are listening to this podcast, go ahead and rate and review it because that's how other people are going to see this and realize that this exists. So do yourself a favor, do others a favor and let them know there's extreme value here by rating and reviewing this. Because it can be a little confusing to do it, but do it so that other people can hear it. So I just want to. I didn't want to leave that out.

No doubt. And by the way, Joey, if they're not listening to this, tell the person who is listening so that they can do it.

I was waiting on that one.

Alright, so by the way, I thought I understood your question as who do you want to be a hero to? Not what hero do you want to be? But so that we have a clarification, which one is it?

Who keeps ringing that bell? I'm trying to concentrate. This is what happens when the four of us get together.

So is it be a hero 2 or be a hero too? Okay. All right.

Well, I said North America. Is that not good enough for you?

That's a lot of people.

Dang, I love you a while. Joey, like, Joey is a real niche down kind of guy, right? I mean, hey, keeping it specific. Cast the net condominium between using me. I don't use them.

All right?

That's how women is done.

Well, I, I, I, I'm gonna niche down just a little bit further because I, I just a little bit. It's easy, right? I, I think that to me, it is. I grew up as a guy that my mom was a school teacher. My dad was a construction guy. They divorced really early on. I, I didn't grow up with any money. Be honest with you. I had nothing I didn't have. I didn't lack for anything because I didn't know any better. I was that stupid. But the reality is that I had a very meager education. I graduated high school with a 1.972 GPA. Unlike my business partner, who was the valedictorian of his class, I went to a public university here in Alabama. I figured out what I wanted to do long after I left college. But I realized that very quickly. I wanted to be able to help people and never would envision that we could help as many people as we're helping. And so for the person who's out there, who's looking for opportunity, who's looking for a way out of maybe the life that they're living, it's like, if you can look at our life, by the way, I don't want to be a hero. But if you look at the things that someone, and with the very poor upbringing as it relates to education, very meager understanding of money and how it all works. If I could teach somebody how money works and be on a podcast as great as yours sharing this message, you can do it. And so I just think of, like, just take opportunity and know that. Find the thing that you understand and you find your gift. My gift is talking, not very clearly, not very fast, but talking. Find the gift and utilize that gift and niche into it and be very successful in that niche and you can reach whatever height you want. So to me, I want to be a hero to the person who says, maybe, what do I have to give, man. There's amazing opportunities out there. Just look at Joey and I. Gentlemen.

It was such a pleasure to be with you both today. Thank you for joining us. We appreciate you.

We appreciate you. And I think we probably will have to have you back on again on a future episode because that would be a heck of a lot of fun.

Yeah. Love it. Thank you guys so much.

Yeah.

Thank you guys.

Appreciate you.

Thanks for listening to the Wealth Without Bay street podcast where your wealth matters. Be sure to check out our social media channels for more great content. Hit subscribe on your favorite podcast player and be sure to rate the show. We definitely appreciate it. And don't forget to share this episode with someone you care about. Join us on the next episode where we continue to uncover the financial tools, strategies, and the mindsets that maximize your wealth.