FIRE - Financial Independence Retire Early

They just think, what are we going to do on Friday night? That's most of the conversation about people my age. Right. When are we going to go play golf? When are we going to do this? When we're going to get our next car. Right. So, you know, it's tough. I totally agree. I'm totally on that point. And to some certain point, I feel like I lose a lot of friends too because I don't have a lot of stuff to talk about with people at my age. You know, like good friends. Yes. But at the same time you're like. Because I'm thinking so ahead. I'm thinking like a 40, 50, 60 year old. Nothing wrong with that. But it's kind of hard because you think about different things.

What is it like building an empire, One that helps more people to reach financial independence sooner? We're going to find out today in this episode of Wealth Without Bay Street. I'm really, really happy and grateful to share with you that we're joined by Cody Ye, first generation immigrant from Taiwan, came to Canada at the age of 18, went to university as an engineer, got a white collar job, but apparently just wasn't good enough. And Cody is now a stock and Options Coach, a YouTube influencer, real estate investor. And in this episode we're going to talk about a number of things, including what Cody's been up to. And so welcome Cody. It's a pleasure to have you. We're also joined by Sarblo Gill, who's becoming a more frequent guest and co host and amazing colleague to the Wealth Without Bay street production family, an authorized infinite banking practitioner with Ascendant Financial, our team, Sarlo, welcome. And Richard Canfield joining us all the way from Chilliwack, bc, otherwise known as the wac. Gentlemen, welcome to the show.

Thank you, Jason.

Thanks.

Sarlo. Kick us off, take us off.

Walk us through how Cody came into your life. Let's get into it here.

Do you want to redo that or.

No, we're good. Hey, this is all good, people. That was what Nelson would refer to as a pregnant pause. There was a pregnant pause. Go ahead, Sarbo.

Awesome. So Jason and Richard, if you recall, we did a bootcamp, our first bootcamp for 2021. And that bootcamp was very focused on a community which is more on the wealth building side. And Cody was on that webinar. And right after the webinar, we had asked anybody who's interested to know more about how this process can benefit them personally or their business or their family. Hey, reach out to us. We're happy to chat. And as you book that call, and as a professional courtesy, we are going to offer a copy of Nelson's book. So Cody happened to be in that session, and Cody got connected with me and he reached out. I think we had a great conversation initially. And then after the first meeting, the meeting, the second meeting, which we were going to have.

Sorry, I couldn't find my book. I was trying to find my book. Go for it. Keep going. Sorry.

The second meeting, after our first introductory call, took some time. Right. Cody was almost like a month after we first connected when we met. And Cody was like, cerblo, okay, I see all this, but I'm struggling to understand this process a bit. Just because.

And then he reached out to me.

Yes. And then he reached out to Jason.

What's going on? What is this IBC thing? I think I get it, but I don't get it.

I've read the book, but I get it, but I don't get it.

Stealing money from myself sometimes. Not good. But it's been going on for years. What's going on? I still have money.

Yeah.

And he's like, well, I have a policy. I've been taking policy loans all this time. And my aunt was kind enough to set me up with that policy. But I didn't see it the way you guys talk about it. And I need more understanding. And I said, hey, Cody, this is very normal. You know, I took some time to grasp this message myself. Some people take, some people get it. It's not a competition, it's not a race. But the important thing is you saw value in it. You reached out, you booked a call. And one of the things, Corey, that you shared with me at the age that you are at, and we are very similar in age, Alexia. I'm thinking more in terms of intergenerational. I'm thinking more in terms of legacy. I'm thinking more in terms of death benefit. I see all these values. Cash flows are great. But for me, the important factor is that to help me understand from that perspective also not just the cash value growth and the process of becoming a banker. And I've got to be honest, I haven't met anybody at Cody's age who's thinking in that perspective.

Wow.

And that was the connection moment for me and Cody.

What are your thoughts on that, Cody?

Well, back up a little bit. I was actually very angry at Cerbla. And there's another gentleman on that call because the other gentleman was silent all the time. I was like, please help me out here I'm struggling. My engineering degree didn't get me anything. But back it up a little bit. That was a good grind through. And to be honest, even before I start IBC policy, I didn't fully understand it. But all I know is the money I pay into it, within four or five years, if I continue to do this, the cash value will be more than the money I already pay in there. So technically I get all my money back and more. Because to be honest, my mom was an insurance broker as well. Not in Canada, but in Taiwan. So a lot of people are very afraid of insurance. It's very crazy. And especially in Asia, right? Because the policy is so different. Because I actually sat down with my aunt and my mom, we all sat together. The policy is very, very different. As we all know, the older you are, the more you have to pay, the less benefit you get. But in Asia, they have a whole different structure. So it's actually less beneficial for people to get insurance comparing to the policy in North America. So we're actually comparing dollar to dollar. It's more worth it in North America to get similar policy. The same whole life insurance in Taiwan is not as beneficial to your clients. So anyway, that's just the way I look at it. But at the end of the day, to me, I look at this as a wealth transfer. All the money goes in. I know it's a slower speed at growing compared to all my other investment like stock option or real estate. But there's a different benefit to it. Whether that is in case something happened to me because I like a lot of ventures or down the road there could be something to retire on. I know the 6% dividend is not very sexy per se. 6% what? But it's the whole thing behind it that it grows worth your age and the cash value keep growing and your benefit keep growing. So a lot of people don't have that kind of long term thing. As a matter of fact, I got to throw in this. I know you guys going to like it. Yesterday I was getting on a call with someone that's very expert in term life. So I straight up told him, hey, I have some whole life insurance, but I want to hear what you have to say. And he's like, hey, the way we convey this message is you spend the minimum in your life insurance and then you use the rest of money to invest to get a better return. And I'm going down more. I'm going down more. Okay, that's interesting. And he mentioned Dave Ramsey. You guys probably Heard about that. So anyway, he's a comedian, I think, isn't he? So the reason I brought those up is because I think their audience base, people who likes those kind of concept are different than the clients you guys are attracting. The clients guys are attracting are like people like me who think a lot. Long term, it's not that we don't care about how much we pay, but we look at the overall wealth transfer. How can we pay more upfront, but overall we actually make a lot more money. Instead of saying, hey, we pay a little bit, all those money in there are gone. Right? That is kind of like a fast food concept, which is the culture we have right now. Everyone who come in, most of the beginner come into stocks or options. Like Cody, how can I 10x my money? I'm like, do you know even what stock is? No, I heard like crypto is great. Everyone's having those kind of concepts, but not a lot of people think long term. And what is the risk and how can we pay money and we get a lot more back, but will take time and that's the hardest for people to grab. People want to now. So, you know, I told that gentleman very politely is that I don't really agree with the concept. But, you know, I think you're expert in that aspect. But I just can't align that wealth transfer part. Right? Even like this kind of goes sidetrack. I own the Porsche. The reason I buy a good Porsche is because that car goes up in value. People say, cody, are you crazy? You spend so much money upfront. If you Finance, it's 2k per month. I'm like, yeah, but that car went up 20%, so it covered my entire cost and more. And I get to enjoy it. I get to make good friends. But not everyone think of that kind of everyone just think, how much do I need to pay right now? How much fun do I get out of it? Right? So anyway, I'm gonna stop there. I don't want to take over the show, but I just want to share that story and wrap it up for you guys.

I think it's interesting that you, you mentioned you also get to make good friends with the Porsche because I'm guessing, you know the nice things they have. Look, they have clubs and there's lots of activities you can do when you're drive cars like that. They have car clubs and everything is kind of cool. You just mentioned you like your adventures. So I'm guessing some adventures happen while you're cruising along at a safe, moderate speed.

In your porsche of Mach 1.

See that picture over there? Oh, this one? That's me. Oh yeah, that's on the Porsche magazine just last night. Nice. Yeah.

So yeah, well you know, it's first. First. Thank you for sharing your your insights on it because you know one of the things that Nelson Nash often said and for the benefit of our viewers and listeners. So this is the client series, part of our playlist of the wealth of Bay street podcast. Because we love to interview people who are at different stages of their journey in this process. And Nelson often said that the more you see infinite banking concepts, the more you'll see you didn't see. And so as you continue to progress through your journey, you may your receptor to inspiration to do something different with your policy. Do something different with your system of policies, if it grows into that over a period of time is only going to be amplified the more you see it. And from day one when you were first exposed to the process to today being a policy owner and someone who has embraced this process. We'll put Sarblo on the spot a little bit here. But what was your experience like going through from education to. I'm interested in applying this in my own financial lifestyle and my own financial world. So what was your experience like going through that with with Sarblo and his ascendant teammates?

Are you asking me or are you asking Sharblo?

No, I'm asking you. I'm putting Sarblo on the spot. Hopefully it's good review Sarblo.

Okay, now you're want me to tell you the truth. So bro, I was like sweating. Thank God I paid for that lunch in Calgary. In Edmonton. Yeah. So I'm going to be very honest. At first I was very like even after reading the book I highlighted, I read it twice. But everything is great. But really for someone to fully understand it. And I think I'm not bad at math. I want to think that I'm above average at math. So it's still quite tough. It's only until I see the numbers illustration I can actually fully understand it and I just have to make decision based on some key numbers. Okay. Within five years I don't mind sharing my policy. I paid $200,000 per year. Sorry, not $200,000, $20,000. Sorry, not $200k, not there yet. But the whole idea is okay, after five years, if I pay $200,000 per year, after five years my cash value is more than 100k. So I paid 20k per year times by five, that's 100k. So if I pay for five years, my cash value is already more than that. That's money I can take out. And the benefit already went up a lot. And technically I can use the policy to run on its own if I really want to. Right. So you guys are going to frown upon me. Okay. Cody doesn't want. He's talking about that, but that was like my base, like to make the decision. Okay, that kind of makes sense. Okay. Well, when I die at 100, okay. I have like 2.73 million just from this policy. Okay. Yeah. I think my kids, my grandkids will thank me for that. And then this is not. I didn't put in a lot of money to starve because I want to see how the system works. But I'm not stopping because I don't fully understand it because I know there's always the next one. Right. And then a lot of times I started my first policy. One is 23 and I pay a lot of money. People thought it was crazy dumping like a couple thousand every month. But like Cerberloss said, I might be the one of the youngest guy. I'm not even married. I have a long term girlfriend, but I'm not even married. I don't have kids yet. But I'm already thinking about all this. I don't know what's in me. Maybe I bumped my head. Maybe it's because the way I grew up is a little bit different than most people. So I think it'll be long term and that makes a lot of sense. I always focus on the long term stuff and I want to keep building that up.

And so what's that experience been like in working with Cerblo and his ascendant teammates and going through those different stages from being interested to getting a policy to being in process. Now what has that journey been like up to this point?

Yeah, Cerblo has been very. You guys have very good process set up in the back end, making sure every single call, follow up, set up. Right. You guys have the whole system going and I think it's going really well and I'm actually learning from it as well.

Oh, good. Yeah, that's awesome.

And yeah, and you guys run webinar to peak interest and let people are interested and follow up with a call and all that. I think that's great. And then that's what leads me to make a decision. And after that, you know, sir, blah, book a call with me to explain the numbers. I was kind of surprised because I thought it was it, okay, see you in one year. But I said, well, I said, no, no, no, let me explain it to you how that works. What it looked like in one year I'm like, okay, I already have $11,000 to spend on. Okay. I thought I'm just going to leave it for five years. I'm gonna look at it. But he said, no, you can spend that money. And then immediately I'm thinking about that book, like, okay, now I'm gonna steal from myself again. Maybe not this year. So I just leave it.

Right?

So yeah, overall the experience is really, really great.

And yeah, it reminds me of the, it reminds me of the grocery store example because it, when, when we're connecting with, you know, new policy owner who is looking inside their client access and zipping around in our client portal and, and saying, okay, I've already got readily accessible capital here. I thought, like what you described in your own experience. I'm just going to take a look at the policy five years down the road. But it's almost like opening up a grocery store. You're the owner, you peek through the windows and you see a bunch of inventory. You got the milk, the butter, the bread, the eggs. Everything is on the shelves. The lights are on but the doors are locked and there's customers standing behind you and you're like, well, just come back in five years and we'll open the doors in. But yeah, there's lots.

We lost your audio.

The milk's gone bad, I think is what they would say.

You know, so it's, it's just like utilize it. That's what it's there for.

I think an interesting thing, Cody, is that with your option trading because obviously you're coaching people how to do that now. You're, you're demonstrating a level of success with it. And it's like anything you do, the more you do, the more you practice, the better you get at it. Well, sounds to me like you've got access to $11,000 or so of option trading capital to pump into your machine should you decide to. Or to grow your coaching business a little bit.

Yeah, yeah. And I didn't know I going to get that much. To be honest. I really come in to say, okay, I'm going to throw in 20k per year for the next 5 years. That's fine. That's fine. The way I think it's okay. What's my business income? What's my personal income? I take a really small chunk that I make sure that if everything goes wrong, I can still pay that that's my thinking of it. So I start there and then if it goes well, I keep adding up. And insurance is one of those things that's very interesting. A lot of people don't get why even, you know, a lot of very close friends and family don't get why. But a lot of times it's a peace of mind now, you know, even turn life insurance is a peace of mind, right? It's just a peace of mind. If something really happened, you're not a liability to someone else. And not everyone thinks this way. Everyone feels like no, they have some kind of right. But for me, I treat it as in if something happened to me, I don't. I want to be a plus, not a minus, right? If something happened to me, I leave behind a lot of stuff instead of I leave behind a lot of headaches and a lot of pain and all that. But other than that, I want to leave as much behind as possible, which can help other people. But not everyone think like that. So that was my thinking. So probably that's why I start really early. And for a lot of people, when you're 23, a couple thousand dollars per month, I could take that and buy a lot of shots in the nightclub, right? I can buy fast car and go do all those crazy stuff, but. But I didn't do it. And I think it's because of that unique background and the way I think.

Everything that you do financially, Cody, is measured against what everyone else is doing financially. And so you're doing something different and very wise, very wise in your thinking. Because speaking for Richard's, I think still quite a bit younger than I am, but just aging myself a little bit, it. The time really accelerates, you know, as you, as you're moving through your life's journey and what you're thinking now is only going to be amplified as you continue to age. And you're going to look back and say, wow, I really made a really, really wise decision. And you'll be quite, you know, when you're 47 years young like I am, you'll be quite amazed with just how much ready access capital you have and still have that peace of mind element. But it's just only amplified because that total death benefit just keeps rising and going up every year. And with the wise coaching and mentoring of Sarblo, I mean, you're really well positioned. Kudos to you.

Just to add on to that, I think the similarity between stocks investing, option investing, real estate investing, and insurance, especially whole life insurance, is that it's Kind of like the same, come back to the same thing. If it's a good product, if it's a good company, if it's a good property, time in the market is better than timing the market. If that kind of makes sense.

Yeah, that makes perfect sense.

Put the money in, let it grow. Instead of trying to time hope for another big crash or wait like an insurance type, but wait for something big to happen. You guys probably see always when people reach back is because something catastrophic happened in their family. They're like, okay, now we need to look at this. Right?

Right.

A lot of time, those are the time that you cannot get any more insurance or you got to pay a lot. Right. Something happened to your body and all that. So it's always time in the market. So if it's a good policy, if it's a good property, if it's a good stock, get in and then wait instead of you sitting on the sideline and should I do this, should I? Not until the point it's too late, then it's really too late. Then you pay a lot more, you buy at the highest point, you have a lot more risk. So that's the way I look at it.

Very proactive versus reactive approach. And most people, as you've identified, Cody, they tend to be operating in a reactionary way. They're just reacting to the circumstances of life or the circumstances of a market. And I really like how you said that it's about time, time in. And I always found that when we're talking about the type of whole life insurance we help structure that Starbulls help put together for you this high cash value model, you're just building equity, just like equity in a piece of real estate. So it's most closely aligned if you were to stack them up with a level of similarities to long term buy and hold real estate. You accept the differences. You need to put a 20% down payment somebody's money, whether it's yours or other people's, you need to, you need that to go and acquire that piece of real estate here. You don't have to wait to accumulate that down payment to do it. You can start right away. And as you're building, you have access to equity versus having to wait until the equity like the value of the real estate goes up and the mortgage gets paid down so that you can access equity. This, you can start to do it at the same time. So, but they're very synonymous because it's a long term, it's like a long term buy and hold piece of real estate, with the exception of the real estate market, can go up and down and the insurance contract can only go up.

Yeah, yeah, yeah. It's definitely. There's a lot of similarities, a lot more control from the insurance standpoint. Right. Assuming everything goes well and it has been going out for hundreds of years. So, you know, you know, and then I don't think, I don't foresee any technology that will disrupt maybe the way they do business in insurance, but not the policy way. Because human is still human. Unless all of a sudden we found a way to be immortal, then I think we're going to disrupt insurance industry. Right. Jason, would you answer blah. You guys agree to that? If somehow someone come up with a way to put in some kind of medicine, we can be immortal, we can be vampire, then what will happen to our policy?

Well, and you wouldn't get through underwriting either.

Other than that the chance is very low, at least within the next five, 10 years is very low. I think we might get to that point. But before that, you know, we can't always think about that one black swan event and stop you from doing the right thing, in my opinion. So, you know, keep that in mind and we just deal with it if it ever comes up. Right?

Absolutely. Plan as if you're going to live forever and live as though you're going to die today.

That's what Nelson said.

Yep.

When he said. Yep.

And so, you know what's interesting is that, and we hear this with clients who have stock investing experience, real estate investing experience, and when you examine the tool, because it's always about product. Right. If you're thinking about what stock am I going to allocate my capital to what piece of property am I going to allocate my capital to someone? Some organization has to control the distribution function of getting money from point A to point B and all of the financing elements of it, et cetera. And I was chatting with a real estate investor just earlier today and I had said, imagine for a moment if you sat down with the mortgage broker and the mortgage broker said, yeah, not only is the lender going to approve your financing for this piece of real estate, but the lender has also provided a contractual guarantee that it's going to rise in value on a daily basis for the rest of your lifetime. And when you die, your family's going to not have any indebtedness on this piece of real estate and they're going to get a tax free check for a large sum of money. Then you and I would Never be talking to each other. And it was like this. You could just see the, that bright light, just like.

Yeah.

And oh my God, like nobody's ever expressed it to me that way. It just makes perfect sense. And so this is all about making sure that we're constantly sharing with folks that the process of becoming your own banker, the infinite banking concept is never about addressing the yield of an investment. It's all about how you go about financing those things that you need in your life, which can include investing and the tool, the dividend paying, participating, whole life insurance contract. It has to be the best tool to get that job done, whatever that job is that you're seeking out to accomplish. The key is not to change the job. The key is to change how it gets done. Really keeping it simple and just knowing that every single day this element of Cody's net worth is going up. It cannot go backward. It just cannot. And even for the thrill seeker investor who is just like, strap me into this roller coaster, I'm ready to go. But that other element where they know that when I get up tomorrow morning, that part of my balance sheet is going to be worth more. And the day after the next it's going to be worth more. And the day after the next it's going to be worth more. And if the roller coaster comes off the rails and they end up having to scrape me off the sidewalk with a snow shovel, my family's going to be just fine.

I have an image just come up.

That's what I'm trying. So I'm trying to do this because Richard told me you got to use your hands more. So I'm doing this more often and storytelling.

I feel like you need to keep a snow shovel in the office there somewhere. Every once in a while you just bring it out. Yeah. When you use that analogy, it's like, yeah, this is the one they used.

To put some blood on it. Halloween coming up. That could be a fun one.

It just makes sense, doesn't it?

Yeah, it makes a lot of sense. I totally agree. Like, like I said a lot earlier, it's not your thing. It's more about a peace of mind, more about kind of like a vehicle through that that you can do your own investing. Right. And you know, even if you blow up all those money, hey, there's still a death benefit if you go invest and look really have to be shoveled up. Hey, there's still a lot of money in there. Your parents, your family is taken care of if you go mess it up. Right. So you know, Yes, I agree with that.

I love the, the long term thinking model, Cody, because, you know, when people are talking about investment stuff, we're always throwing around rate of return type conversations. Well, nobody really talks about the eternal rate of return. And that's what you're focused on is what's what, what happens. No matter. You know, Jason likes to say that the best investment is the one that pays the most when you need it the most. You know, when it's, when it's, when it's required. And you know, death is one of those instances. People need capital one way or another, even just to pay the final tax bill.

Yeah.

Would you believe that the tax man has no sense of humor at all? He won't accept Porsches and shingles and doors and pieces of real estate and drywall and, you know, none of that stuff. He's only cash Canadian.

Well, maybe if you put the taxman's picture in a Porsche magazine, he might, might.

But that means everything, everything that you have has to be converted into currency to pay that final bill, but you're not around to do it. So someone has to perform that job. The executor's got to perform that job for you. So if you could, you know, you build up, you know, from now as a young age, you got a lot of run rate to build up a lot of investment real estate over the rest of your horizon. And now you got another tool to help you accomplish that.

Ob.

As you build that up and build that up and build that up, well, there's going to be a big fat capital gain somewhere down the line and someone now has to go and convert that. What often happens for a lot of people, I don't believe that'll be your circumstance because you're learning, you know, how to do this now. But for a lot of people that that event takes place because would you believe it? Nobody knows. There's no stamp on the back of your neck with a best before date on it. So we don't know the day that we're going to go and but the day it happens, everything that you own is valued as of that day. So if the value goes down six months later, you got to pay the tax bill on the stocks. If the stocks go down, it doesn't matter. You're paying tax on the value as of the day that you passed away and someone has to go and sell everything off. And they're often selling it off at a discount. They're liquidating things so that you spend a lifetime building it up. Only to see it only get torn down for a discounted price because they need to raise capital to pay the tax man and deal with a bunch of things. It happens to people all the time. And so I think it's the kind of thing that bears repeating on our show because the more you're aware that it's going to take place, the more you can start to be proactive on solving that end game problem.

Yeah, I agree. It's easy that you don't have to convince me because I'm already thinking about it. But not like I said, not everyone, especially most people at my age never think about that. Right. They just think, what are we going to do on Friday night? That's most of the conversation. Right. About people my age. Right. When we're going to go play golf, when we're going to do this, when we're going to get our next car. Right. So, you know, it's stuff. I totally agree. I'm totally on that point. And to some certain point I feel like I lose a lot of friends too because I don't have a lot of stuff to talk about with people at my age. You know, like good friends. Yes. But at the same time you're like. Because I'm thinking so ahead. I'm thinking like a 40, 50, 60 year old. Nothing wrong with that. But you know, that's kind of hard like because you think about different things. Right. So yeah, just tend to hang out with older people. That's why all the Porsche magazine people are all, you know, they say I bring down the average age. I just pull out like Instagram. I'm not sure, sir, blah. Saw that. But I just go through and say, yeah, I think they say them bring down the average age, but hey, they own Porsche for a reason. Right.

Hey Sarbo, do we got you? Do we got your audio?

Yeah, I'm right here, Justin.

Oh, okay, good. Yeah, we got you. We got you back there. That's good.

I got you.

Yeah, I was muted. I muted myself because Cody is just hitting it left, right and center when it comes to humor there.

So.

Yeah, you know, just based on what the Cody shared little, you know, a few minutes back, it remember, reminded me of Bob Shields. Bob Schiel used to say that I wish we all die for one day to really see the problems that we leave behind for the loved ones. And each problem has a price tag to be paid. That's what's a problem. Right. And how do you want to pay for the problem? Do you want to pay for the problem? Hundred cents and dollars. Or do you want to pay for the problem? Pennies and dollars. And this is where thinking long range, thinking about legacy, thinking about starting today, that's where insurance companies tax your dollars come into handy. Because you will never pay in dollar for dollar, never. If you live a long life, you're going to be able to spend more than what you put in while you're alive. And God forbid, if you're driving around a parsha and take a wrong turn, there's going to be a lot of tax free that benefit that's going to come walking in and take care of the family going forward. You can't put a price down on that.

Right? Yeah, yeah, I agree. I agree. And just to add on to that, I was having a conversation with another real estate developer and a friend that's a cpa and we were chatting about all this life stuff, parent stuff, this and that, and I come to a conclusion. I know maybe you guys agree, maybe you guys don't, but the way I live every day or set up all these insurance policy or all these property, all these stock option things is because if tomorrow, I'm not saying this will happen, but if tomorrow something happened to me, I know that I have everything set up and I enjoy my life. I don't press myself to like, okay, I can only need cup noodles because I need this policy, but I enjoy my life. But knowing that everything's taken care of and if something really happened to me, I will be smiling. I'll be like, if I pass away, I'll be okay. I know it's kind of scary. Everyone's like, what are you talking about, Cody? You're passing away, you're smiling. I'm like, yeah. Because I know I enjoy every moment of my life up to this point. I know I did everything I can, best of my knowledge and everything else taken care of. So I will enjoy it. Right? So we were having that kind of conversation. Right? So I know that's, that's kind of conversation. That's why I don't get a lot of friends in my same age anymore who talk about that.

Like, yeah, it's interesting you bring up, you know, the age difference because another one of our mentors, Dan Sullivan, he talks frequently about needing to develop friendships with people at different phases of life than you are, different ages. And so being a gentleman who's. He was in his 70s, I can't remember. I think he's. He's roughly approaching 75, I think roughly. But he's making friends intentionally with People who are in their 20s. And because he, you know, part of it's because of his longevity plan. He plans on living to, I believe it's age 156. And so he's, he's stretching his thinking out to there. He says, well, I'm going to need some young, young buck friends available to help, you know, you know, create that, you know, youthful energy. But, you know, you need to be around people like that because often when you're around people who are in different categories and if you, if you start to age up and then you, you hang around with people who are aged up, well, what do they do? They talk about things, about ailments and all the, you know, problems that they've got going on in life. So you need to, you know, diversify your friendship base. Diversify in age because it's going to give you context about life experience. And so by making friends with older people, what's beautiful about that is there's things that they've done and experience where you're going to be able to learn vicariously through those experiences and be able to say, hmm, I remember my friend, you know, John, told me about this. Maybe I better keep an eye out. I should lift with my knees instead of my back. Because that, that's how he wrecked his back, you know, so things like that.

Yeah, I think the best way, like I, I heard this and I still live with it. One third of friends are older than you. One third of the friends are around your age. One third of the friends are younger than you. I think for the people who are more mature, you learn from them, you provide the energy. At the same time, you learn their mistakes. Doesn't mean that if you do the same thing, you'll get the same mistakes. But at least to keep you aware, if you're going to do that, do it somewhat differently because, you know, that don't work or some. Why it didn't work, right? And people around your age, then you stay grounded down to earth. And then people younger than you, you learn new things and you bring them up too, right? So that's where the sense of satisfaction come in, sense of achievement. Because there's no. If you grow so fast, like where I'm right now in terms of everything in my life, sometimes you feel alone, right? I'm okay with that. But it's fun. And that's the fun part to bring people up and you actually feel that, right? You're like, oh, man, I'm so happy for you. What's the extra couple thousand Dollars to me doesn't really matter at this point. But bringing people, I've seen them setting up, I was running the Excel spreadsheet of this is the amount you put in, how much money you put in per month. This is a projection. If you make between 1 to 4%, this is your cash flow requirement per month, $10,000. You will hit this in five years. Let's say if you make 1 to 4%, depending on how much rate. The more you make per month, the faster you get there. And that's the kind of Excel spreadsheet I'm creating so that people can visualize to see that graph. And I put a star on the point where they replace their income, whatever, right? So I show them. Here you go. This is why you pay for it. This is why you work for it. This is why instead of me talking about all that, right. So that I learned from conversation with Cerblot too. So maybe I can share that with Cerblot.

Yeah, his royalty requirement is only 70% of whatever you bring in from that. I'm just kidding.

I create that shit. What are you talking about? So I'm going to charge you guys royalty. What are you talking about?

We'll double the price of 50% off.

Oh my God.

Well, we, we really, really appreciated you being a guest with us today and it's a lot of fun. And if you were, if you were speaking to somebody who is, you know, new in their journey of learning about becoming your own banker, the infinite banking concept, what words would you pass along to that person?

Yeah, that's a great question. That's the same question I asked on my own alumni interview. Now that I'm putting on the spot, I'll say very similar is you don't know what you don't know and take some time to just fully understand it. Why not before you right now or might be, you can always start small by starting small or doing something, at least be aware of it. Open up a lot of door already and you don't have to like go, you know, all in at first, just like anything but learn it and you know, like I said, it's a whole wealth transfer system as a long term thinking. So it takes time for you to understand and see the effect. But your future self, I think they'll all thank you for it and I think your whole family, people you love will thank you for it. Even though they don't know they will thank you for it. Right?

Wow, that was awesome. Cody, thank you so much. Sarblo, any parting remarks or Questions for Cody.

No questions for Cody, but I would just ditto what Cody just said. Starting is important. Practicing while you start will reinforce the education that you learned and give you an opportunity to expand your program. And I'll steal the analogy that Jason shared with me a long time ago when I first got started with my own journey. He said, shrapa, the only way to learn how to swim is by getting into water. You can be standing on the side of the pool and pretending to learn how to swim, but it's not going to help you anything, right? You get in, you simulate, you learn real time and then you expand. Instead of doing 10 meters, now you do 20 meters, 20 meters, now you do the whole 50 meters. Exactly what Cody said. Connect with it, study it, have a good coach, and then gradually expand your program as you learn more.

Don't give up, don't give up. It could be intimidating at first. Just like stock option, I have a lot of students that Cody, this is way too much information. And then best way, just like this kind of conversation, I said, look at all these alumni. One to two months down the road, they make back the money and they see the benefit. Now they see a light at the end of the tunnel. So do you want to be there? If you want it went through all that you've been through right now, so, you know, stick through it, right?

Great advice, Rich.

Well, you know, Cody, it's at the time of our recording, we're approaching Halloween. I don't know what kind of costume you've got planned. Perhaps it's in the superhero variant, but we, we don't always wear costumes, at least not on this show. But when you show up and you coach people how to invest in stocks, how to tackle real estate, project how to do all the things you're doing at your young age and you show up as a leader, you help raise the bar for other people, you show them how to think long term when maybe they aren't. You're really providing a tremendous value to other people. And so you're really showing up as a hero. Our question for you would be, who do you want to be a hero to?

You know, that's, that's a very good question because I thought about that and growing up, I, I never like, follow any celebrity or anything. I always learn all the, the goods and bads from each person. I try to take away the goods even from my own parents, believe it or not. Right. I always, you know, now that I grew up, no one's perfect. But I always see where I can learn from like good side of things. Right. So you know, I really like Elon Musk, but I like him, but I don't want to live his lifestyle. I really admire him but in order for him to be there, done that, he has the things that he gone through. I don't think normally people have to go through it and normal people wouldn't, wouldn't go like, couldn't go through it physically, mentally, just like he's definitely supernatural. Right. Whatever way how he grew up. Right. But I just want to make sure the hero I look up to. Warren Buffett's definitely one I learned from him because I like the lifestyle, I want to live a good life. People you love still love you when you get to his age. Because at his age money doesn't matter. If he can buy 30 years back, he will give up 99% or maybe 99.9% to get it back. So I listened to all that and say how can I keep growing this empire, help more people? And people say hi to me on the street and even give me a hug and I make sure I change their lives so that bring all that up. And I still have very healthy relationship and family. That's the whole point. It's not about okay, how many more Tesla stocks can I buy? Not stock advisors, anything, how many properties can I buy, how many more insurance companies policy can I buy? Like it's all great, it's all part of the process but it's really how can I get a good balance. And, and then I really enjoy the life. I don't regret any day I'm living. I know there's up and down, but you know, I, I know the light at the end of the tunnel. I enjoy the process. So that's, I'll say that is that image is my hero. Not certain person, but I learned from a lot of wise people. Right.

Wow.

Very powerful. Thank you so much, Cody. And this concludes another episode of our client series. And you heard directly from Cody. Yeh. And we really appreciated having you on the show and we'd love to have you if, if you'll join us and we'll, we'll check in on, check in on your journey as you know, as the years progress. And so thank you so much again for being with us and to all of our viewers and listeners, we sincerely appreciate you as well. And if you take a look over either this shoulder or this one, whichever one the playlist is showing up, please continue your journey of learning.

Learning.

We've got a number of recommended videos, and we look forward to the next episode. So, guys, let's make the rest of our week great, and thanks again. Have an awesome rest of your day.

Yeah, thanks for having me.

Thanks, Cody.

Thanks, Cody.