What happened at the Wealth Hacker Conference In Toronto?

Okay, I believe the live broadcast has started. Maybe somebody in live broadcast land over on the Facebooks or the, the YouTubes will type in the chat box once they, once they see our smiling faces. Jin Jin, I'm really happy to be with you today, Jen Jin, because today is a pretty special day. It's your birthday today.

Oh, thank you.

And, and I actually didn't know that we were going to be able to have a chance to connect on your birthday and I was glad I was able to send you a little message earlier this morning. But the fact that you can, you know, you and I are able to do this together is actually really, really cool. So I'm really happy to spend some quality time with you on your birthday. And in this quality time I'm excited about chatting about a recent event that you were able to attend in Toronto. And this event was all about the Wealth Hacker Conference. It was put on by some friends of ours, of course, Cherry Chan, Irwin Seto, they run an amazing organization, great membership group. I know that they put tons of value and effort into creating this huge, amazing event. I unfortunately wasn't able to attend. But I've been looking to, you know, I've seen some messages and some pictures and comments from people who were at the event, from our team and of course you were there, you were live in person taking in all the ambiance of this incredible group of people. So share with our, our watchers, our listeners today, what are some of the things that you took away from being at the event and some of the cool conversations you were able to have?

Yeah, thank you Richard for asking. It's fantastic to be with a fantastic room of people. I think we have 700 audience. The reason is that we ordered 700 cans of peas to give each attendees, so that's why we received that number. But it's fantastic to see this many people and there are a lot of other sponsors at the events as well who are, you know, mortgage brokers, private lender groups, you know, there's all kinds of real estate related organizations and also the, I don't know is, it's just amazing to have all Irwin and Cherry, their own power team, I guess they invited there and all the like minded wealth hackers. So have a broad amount, a broad number of speakers that present at the event. It's just so fantastic to be with as many people.

Yeah, awesome. Well and of course you go down to an event like that and I would imagine you probably spent most of the time over at the Ascendant, you know, booth area when I saw some great pictures of the booth, looks like it was, it was pretty busy there with people coming by and having conversations. So you know, you're attending, you're, you're obviously trying to listen in and hear what's going on as a bit of a participant. But ultimately you, you have another role when you're there. You're really working at the sponsor booth. So sometimes it's hard to, to hear everything and be really truly immersed in all the, the content that's happening from the different speakers. But you know, was there anything that you maybe took away from the event from a particular speaker, someone that you were able to maybe listen to or tune into more throughout the day?

Yeah, I did. I actually was there for quite a couple of speakers. I know Erwin gave a on what the current economic updates. I guess that's very good. So he did mention a little bit. And of course we all know what's happening with interest rate. We have recession coming in, so we have Irwin and also Daria who give some mortgage advice as well. So give, give the audience a little bit update on what their advice are in a difficult times like this. It's great to see there's leaders out there. Right. Because when people have a lot of unknowns or unpredictable futures happening, there are leaders in this area that stands out and then share their opinions, share their views, which is fantastic. And of course I really enjoy there's the different variety of audience. We have Derek Foster talking about stock investing and we also have cryptocurrency bit by from bitbuy as well. So yeah, it's interesting for me to hear some topics that I'm not personally familiar with. So it's just give me some, some more ideas. You know, that's the whole idea of a wealth, wealth hacker is not about enhancing what you know. But also find out some blind spots that maybe just have some more inspiration.

Oh, that's great. I like the way that you put that. That's fantastic. And of course on the, the docket of speakers was also Jason Low who is unable to be with us here today because he's down in Florida spending some time with his family, which is fantastic. So, and, and how did you, how did you find that section went over. I, I don't know if you were able to tune in and like watch Jason's presentation or anything. What are some things that came out of, of that? And I, I, I know one thing that Jason likes to do as I do is try to be fairly interactive with the group of people, people so did, did you see some of that? I'm just kind of curious because I don't know what he actually did and presented. So I'm, I'm looking forward to, to hear what, you know, to, to have you walk me through being a participant in the room to some degree.

Awesome. No, Jason was the second last speaker. The very last speaker was a keynote speaker, Jesse Isler. And Jason, you know, we, during the day we have lots of attendees coming to our booth and saying that actually they're very looking forward to hear Jason speak. So we're kind of telling Jason that, hey, we have lots of people expecting, like really looking forward for your presentation. And of course, Jason is a fantastic, very, very engaged speaker. Right. So he comes to make it very fun and interactive, ask questions. And I personally really, really love his presentation. Although Jason prepared a lot of content, which is very, very, A lot of value to be added. Right. So he's very fast. And then I guess the idea is to give people who's not familiar with becoming own banker the infinite banking concept. Give them a chance to hear, oh, what are some of the things? I want to find out more. Right. So I think it's fantastic being an advisor practitioner myself. Just hear Jason speaking in that kind of format and very high level. But I mean, it's amazing. I personally really enjoyed his presentation.

Yeah, that's fantastic. So I, I didn't actually know that. I didn't realize that he was on towards the end of the day basically as a second last individual. And so prior to that you had, as you said, there was people coming to the booth. You guys had. We had a large presence of our team that was there and you know, you making the journey all the way from the west coast, all the way to Toronto coast to be there. What were some of the things that came up, I guess maybe prior to Jason going up on stage and the conversations, people coming to the booth to say hello, to check up and you know, ask questions. You know, what were some of the things that you found or I guess like just stuff that came up or questions that came up as people were coming to the booth to check on, you know, the Ascendant team and ask questions. What were some of the things that, you know, the people you spoke with. What, what came up in those conversations?

Yeah, surprisingly our booth was super busy. We had maybe six advisors present there and at some point we're all speaking to is. It was fantastic. We have attendees of the Wellhacker events that never heard about this concept. So they will come in and say, what does that mean by becoming your own banker? So it's great that we have a chance to introduce this book especially they have an opportunity to attend a enhance your investing bootcamp coming on November 26th, which we offer to all the attendees. Right. So it's great to give people a little bit introductory about this concept and they're looking forward for the presentation in the evening. And the other group of, you know, attendees, they absolutely. Some of them already have this book, becoming your own banker and they maybe have this for quite a while and then they get a little bit know about it but then, you know, things get in the way. They haven't really finished reading the book or they have idea, but this is opportunity for them to learn more. So for us being there and able to answer some of the questions or remind them that that controlling the banking function in their own hand, how important it is, it's just fantastic to connect. And of course we have our existing clients who are so happy to come in and get autographs from Sarblo, from Jason is like there's a small events happening there as well, like, you know, taking selfies, taking pictures. It's just such warm, heartwarming time to see that, you know, there are people appreciating and really get the message and then, and then how happy they are to see us there.

Oh, that's great. Yeah. Existing clients. I did I see a couple of pictures. I know Jason sent one of one of my clients who was there at the event getting a picture taken with him, you know, saying that he says hi. So hey Will, sorry I wasn't able to attend the event, but that's so cool to hear that taking place. And it reminds me of, you know, the live event that we did in Edmonton recently where we had our family banking summit and our whole team got to get together as well as many of our existing clients, of course attended in the room. We had 170 people in the room, so not, not the 700 level size of room that Wealthhacker was, but, you know, a fraction of that at 170, but a really good event nonetheless. People got a chance to network and get to know each other. We had a lot of people attending that were maybe fairly new or brand new to the concept, but also a lot of existing clients just getting a chance to be in the energy of the room and be with our team and our organization. So the fact that there was so many existing CL at the Wealth Hacker event who are able to come to the booth, meet with maybe their advisor for the first time or just connect with our team is actually pretty amazing to hear. And that those conversations, like you say, you know, they. They turn into little selfie moments. And, you know, there's. There's probably some good hugs that went around and just like a lot of joy because there's a. There's. There tends to be this, like a bit of a liberation feeling. There's this, There's a. There's something really special when people start to embrace Nelson's concept and implemented in their life, and they realize now that they're part of something almost a little bit bigger. They're part of a. A larger aggregate community of people who are taking this piece of financial control back into their life. And, you know, it's kind of like you're. It's. It's not like you, you know, a secret, but to some degree, it's kind of like you're doing something that, that a lot of other people aren't. They just don't know what's out there. They're not familiar.

So.

So you automatically, you know, create a new, almost a bond, a bond or at least a bonding moment with people who are engaged in that same type of an environment. So being able to get in a room, a live room with people that are doing it together, and that's really, really cool and really special. So for you to share that, I think is pretty awesome. And I'm glad you got to witness and see a lot of that taking place. And as far as. So after Jason presented, obviously the. The keynote speaker was up right afterwards. A lot of people would have wanted to, you know, pay attention to the keynote, of course. So I'm sure. I don't know if there was much of a break there where people could come to the booth. Probably just went right into the keynote. And so you didn't have as many people maybe stopping by the booth until the end of the event. And, you know, was there a difference between, you know, people that would come by the booth throughout the day versus at the end of the day after Jason had a chance to have this conversation. So anything particular you can think of that come up from that?

Yeah, it was really busy. After, after the event, we have people just flooding towards our booth, and it was so incredible. We have lots of people holding their phones like, okay, I got your text message and now what do I do? So is the people who actually on the spot, because at the end of Jason's presentation, he also invited Irwin and Cherry up on stage because he was saying that everyone who Attended the the investing enhance your Investing Boot. On November 26th. We're going to donate $5 to Irwin Terry's charity to feed the hungry children. So and then at that time, Jason also invited all of us, our advisory team, our Ascendant team up on the stage as well. So just during that short two minutes I was on the stage, it's very fantastic to see a room of people, 700 people, and there's people standing at the back. I guess there's different vendors coming in at the very end as well. And it's just amazing to see that many people. And we're just receiving the text message with people registering for the webinar on the spot. So it was amazing. And afterward we have lots of people coming in ask more question or you know, did want you to find out more about Nelson's message. And also of course getting, getting the copy of this book. It's just. Was so busy. We're talking and we're giving out books. We were, we don't have a single book left at the end. So we're the last booth packing up. It was just fantastic. I. I don't know, I can't describe. I was so busy talking to people, I don't even realize the time.

Yeah. So the day, the day blew fast because it was, it was, I mean, full eight hours, I think pretty much the day. It wrapped up like around 5 o', clock, 5:30. Is that right?

That's right, yeah. It starts from 9am all the way to 5.

Yeah, got it. And, and then I'm curious now, there was some other things that were brought in from the Ascendant team for the event. And so I saw a little picture and I, I saw a couple pictures. One in the back of a. Back of someone's like suv and then the other one was like a picture of the chairs. So you're able to lay some things out on the chairs. Now Tell, tell our listeners, Jinjin, what did every attendee get when they walked up to their chair? What was sitting on their chair?

They will see a jar of pee, a real jar of pee that you can get from the grocery store and of course have a nice QR sticker on it. And when they, when they get the can of pee, of course, you know, actually Jason did not go through the grocery store example that in the Nelson's teaching. But he just say, remind yourself that you have a can of pee and don't steal the pee. If you want to find out more about that, you have to come to the boot Camp or you have to read Nelson's book. So that's, That's a great reminder. But if you actually scan the QR code, you can register for the event on November 26th.

Oh, nice. That's great. And just the fact that, you know, you show up to, I mean, I, I can't think of any time like, yeah, I've been to lots of events where people leave stuff like on the chair and, you know, part of your registration package or whatever, but I can't recall ever being there where someone left a can of peas on the chair. So I think that's kind of interesting because it really stands out. It's like a. It's definitely a. A large object. It's got a little bit of weight to it. And, you know, people like, imagine people walking like, what is this can of peas? I don't understand. So I just think it's kind of funny that they did that and, and, and it's not like, that's a small amount of effort. I mean, if you lit. If you saw the picture of, like, the back of somebody's, you know, trunk or whatever, and it's just like stacked up 700 cans a piece, that's an awful lot of weight in the back of a vehicle to bring in and to haul in as the team and then put on every chair. You know, it takes a tremendous amount of effort to do all that stuff. So thank you guys all for doing that as an organization and supporting again, you know, Cherry and Irwin's event, Cherry and Irwin's charity to feed hungry children is also amazing. So for everyone that registered for the event that's coming up for that, that boot camp, that's fantastic. Again, money that's going to go to support feeding people at a time of need. And just to know that we were able to, I guess, have such an impact for the people in the room, to be able to connect with so many people, both existing clients and people who are looking at exploring the concept in their own life really brings joy to my heart, Jingen. So thank you for being a part of that and for going down to the session, having a ton of fun. Obviously, I can tell you're kind of beaming from the event a little bit because it was. It was only a couple of days ago, and I. And I guess, you know, beyond that, you were also probably excited just to spend some time with our other teammates. And I would imagine you guys probably got a chance to go out and have, you know, a dinner to celebrate from the event. And I'm curious You know, just to ask this question, what were. What were some of the feedback comments when you got together after packing up the booth and long day, a very busy day. Anyone that's ran a major event like that knows how much effort goes into putting it together. But as you guys were kind of debriefing after it was all said and done, what were some of the comments that the team had as far as the event itself and what were some of the emotions and things that they took away from being at the session?

I guess we were all super pumped. Nobody's feeling tired. I mean that a lot of us coming from the west side of the world, but of the country, but we're just so excited. It's just amazing knowing what we are doing have a big impact on people's life, right? Especially for real estate investors as well. And I think our team really take pride of what we do, right. We all come in as one group, we talk to people and we're handing in books. And you know, for me myself to look at my colleagues emotion is fantastic as well. Like, I always see you guys on Zoom, but you know, when I see Vern talking to the prospect clients talking to someone is asking questions. When I see Roman explain to people on a very high level, what does becoming your own banker mean? It's for me, that's amazing, right? To see it's like all those little Zoom calls happening on one booth and at the same time, it's amazing. And also there's a lot of opportunities because when people are focusing on the rate of return and I record that because I used to come to a lot of events like this as a teen and the as a real estate investor, some of the question, I smile at it because I said, yeah, I asked that exact question like three years ago or something like that. I know where your thoughts process is. But remember, rethink what you're thinking. And that's exactly what Jason started by his presentation. He had a lot of time. He spent quite a few minutes at the beginning of his very short time of his presentation about thinking, right? Are you ready to rethink your thinking? Are you ready to really think? Right? So I think he bring up a very, very important point. And then I think for people who's willing to have an open heart and thinking hard is amazing because IBC and real estate is just a great combination. It's really not just about the rate of return. You know, there's so much more to it. Not also just to solve for the text issue at the end for real estate investors, but they're just so much into it. And then, and then we just feel like there's a lot of opportunities for the attendees to find out more about this. And we are super pumped for the Bootcamp leader.

Oh, that's great. And it reminds me, as you're sharing that something that Jason's fond of saying, the best rate of return is the one that pays the most when you need it the most.

Exactly.

And, and so there's a relevance to time. And, you know, I, I like the odd spreadsheet. Gingen, you've seen some of my spreadsheets, and I'm not a master at them, like maybe a Sarblo or a Tron or even Roman on our team is. But the problem with a spreadsheet is that it's very static. You can plug lots of numbers in, but then, you know, unless you go and change it or manipulate or update the variables as something changes in the in live moment, you don't really have an updated version of things. So we often, when we look at, say, an illustration for an insurance contract or, or a spreadsheet, it's, it's a very boom. It's a, it's either a projection of values or whatever, and it's, it's as of that moment in time. And so as we go through time, life changes dramatically. And right now, especially in, you know, for the real estate investors, I'm sure these things came up in conversation. Maybe not in the ones we were having at the booth, but people that were in attendance at the event, because there would have been a large contingent of real estate investors for sure at that event, knowing many people who are existing clients of ours that also attend many of, you know, Irwin and Cherry's, you know, wonderful sessions that they do. And, you know, with the changing environment, and especially again in the, on in the Ontario real estate marketplace, you know, really across the board in Canada, there's, there's, there's changes going because of the affordability adjustments with the interest rates rising, etc, you know, time is really relevant to what's going on when it comes to rate of return. And you could have the best portfolio of real estate, and it could have been growing really, really well. And now you might have accumulated a huge amount of equity, let's say, over the last five years, but all of a sudden that equity that was there on paper has now come down, let's say 20% on some portfolios, maybe even more than that on some portfolios. And so you might still be at a good Quote, unquote, rate of return because of when you started. But how much, how much possible return or opportunity cost did we just lose because we didn't sell at that peak market? And nobody has a crystal ball. No one's going to be able to predict those things with accuracy. Or be in a market where you can just, you know, push a, push an eject button and say I want to eject with all my profits out of the real estate market right now. And then, and then hold on and wait for the next, you know, the next market cycle that I want to jump back in on that doesn't really exist. That would be pretty cool if we could create, you know, the perfect market cycle eject button so you could, you know, harvest all your profits. But in the same environment you have people that have a market that's, that's gone up and now it's backsliding. But what were to happen if someone all of a sudden passed away? Now if you passed away, if the market was up, hey, someone can sell all those properties. The problem is that's not going to happen overnight. You know, the spouse of the, the main, you know, usually in most households there's one spouse who's kind of the, the driver of the real estate portfolio or the stock portfolio. You know, the person that's kind of taking on the learning. And some houses, it's very even handed. But in my experience with most families that I meet with, there's usually one spouse who's kind of the driver of all that activity and the other spouse is focused on whether it's the kids or a different career path or another business model. And so they've, they've divert the efforts, you know, of their, of their financial life as they're, you know, growing through time. And so as soon as one of those events happens, we lose one of those spouses. Now if it's the person that's driving the real estate, you know, game or this, or the stock portfolios, well, now everything's shifting and changing in the marketplace, but you need to now have the time and the mindset to be able to go and sell assets and harvest those profits and doing those things. And so you're creating an issue where the timing may not work. You might be in that position where you have to do that, but the timing is, is an exact wrong spot where the market is in a rapid decline. And now you're in a position where either you can't sell some of those things. So here's. Now you have Nelson's principles being incorporated by a family and they have a huge amount or a large, well structured volume of insurance that comes in tax free when it's needed the most. Even if the market is in a bad position, which gives you the capital liquidity that you need now as a family or as a business to say, hey, we don't have to be in a position to sell these properties. We can hold on, we can wait, we can, you know, we could pay off a couple mortgages and harvest cash flow. Like you're just in a much better financial position and emotional position because you're not being, you're not being set up to make rash decisions that a market is dictating the terms to you on. Instead you get to dictate the terms by how you want to proceed when you have incorporated the type of strategic planning that the process of becoming your own banker, you know, creates for you. So I think it's interesting, again, you're talking about hearing those questions in those comments. Again, they go back to the idea of rate of return because they look at, from an initial vantage point, it's a financial strategy. And because it's a financial strategy, our brain says, oh look, financial strategy, let's find out what the rate of return is. But it, it's not relevant because your life is far too dynamic. And you know, it's, it's all relevant to what's going on over a certain set of variables over a certain period of time. But you can't deny the variable of sooner or later someone's going to kick the bucket. And when that happens, a whole bunch of levers got to be pulled. And one of those levers is your assets need to be sold, a tax bill has to be paid, and often none of those things happen when you expect it, which means a bunch of money is going to get, you know, is going to be dissipated out of the family's life plan or the, or the generational wealth track because we had poor planning. Whereas when you incorporate the strategic planning of IBC into your life, you're automatically enhancing the value proposition for a future known event. And that future known event is pretty simple. It's the day that you die. And you know, we don't need to be grim about it. We can just all agree that it's going to happen. And if you just put in, you know, people will put in more energy into planning a family vacation than they will into planning for the known event of their own passing. And if we put in the equivalent amount of energy into the known event of your own Passing the probability that you'd have a lot more capital to also be able to fund family vacations coincidentally goes up, you know, when you incorporate Nelson's principles into your life. So anyhow, I just, I just really appreciate you sharing some of those conversations that you heard, some of the questions that came up because it speaks to where people are at in certain stages of their journey, including your, your own stage. And you know, I, I, it's hard sometimes to reflect back because I've been doing this now coming up on like 14 years and so I'm trying to go back to that point in time in my life and, and yeah, I'm sure these were questions that I had a lot in my brain and my brain wasn't there. I wasn't ready to truly understand things. But as you go deeper and deeper down the path of discovery, as you continually reflect on rethinking your thinking, it's amazing how many more doorways and more, more, more methods, more ways that IBC begins to solve certain problems on the road of life for you. They, they become elevated. It's kind of like it's, it's kind of like when you buy a new car, you know, maybe not new, but new to you, right? And then all of a sudden you're driving off the, the lot or from whether it's a private sale of the car dealer, you're driving away and then all of a sudden you start seeing the exact same car and the same color on the road every day. But before you had that vehicle, you didn't see those things, right? They didn't stand out for you. As you begin to incorporate the IBC model into your life, things start to pop out into focus in a way that they just didn't pop into focus before.

That's right. Your eyes only see and your ear only hear where your brain is going for, right? So that's, that's fantastic. And I like how you shared about the exit strategy because a lot of real estate investors would understand their why. Why do they want to build wealth and events like this? We will have expert in the area telling us when you go into a deal, think about the exit strategy, right? You have to think of multiple exit strategy in events or time like this where maybe you can reassign that pre sale condo and things like that. And I really like the point that you just mentioned. You know, think about the death, think about this event that is going to happen. We don't, we don't know when. And that's another exit strategy. When you're building wells for your family. So I, I really record that and that sometimes that's a, that's a point when you're growing your wealth and you're not thinking enough. Right. Is an area that you're not thinking about the unlikely event but that will happen at some, some point in your investment journey. So, so I, I think it's, it's great to bring up those kind of topics on events like this because I would definitely appreciate it and like you said, maybe at some point in my journey I wouldn't appreciate it doesn't kick in. But, but the message is here for, for the audience who, who's have an open and learning mindset.

Well, and you know, something else that came up for me here, if you don't mind me sharing Jingen, is that there's a, an individual who, you know, I was speaking to recently, a great real estate investor. They've done a great job of you know, buying properties. They got about eight, eight units, eight doors are mostly single family houses and they bought them at a great time. I mean they've had them, you know, in the, onto again in Ontario Marketplace probably over the last, I think maybe starting like 2013, 2014. So they've had, they've kind of captured the bulk of that huge market rise really doesn't matter where in Ontario live. You probably got a decent market rise and you know, holding onto these properties and has been blessed, you know, check a nice box that they've had very little tenant issues. Great long term tenants. That's something that most people want in the, in the real estate business. So, so she hasn't had the vacancy turnover that maybe other real estate investors have had to deal with, which is, which is great. However, there's a counterpoint to that which is because of the rent control that exists in the Ontario, you know, system she hasn't been able to raise rents to market and so because of the long term, so, so good news is long term tenants, low turnover, low vacancy rate. Bad news is rapidly increasing properties which is not a bad news. I mean that's good, good news except that that increases property taxes. It's also there's insurance rates, property insurance rates have gone up because of a lot of natural disasters in Eastern Canada, Western Canada, etc has increased property insurance. So there's been all these increasing costs but she hasn't been able to increase rent up to, up to the market level. So that's been squeezing cash flow. Squeezing cash flow and now with variable rates spiking on these, on these properties that's put in tremendous pressure on cash flow. So now there's negative cash flow on several properties. Well, the difference in market rent that she's missing out on, on average for the, for the eight properties, it's like $800 a month per unit.

Wow.

So that's the, that's the opportunity cost on what the market rent would bear versus what she's, what she's currently able to charge because of the limitation of the rent controls. So although there's a squeeze on cash flow now because of increasing, you know, interest rates, plus the other inflationary pressures of the increased property taxes increase this it. So again, there's not really a lot of positive cash flow left on the, on the portfolio. But what's, what I think is even a bigger issue. If you had, you know, at eight properties, at 800amonth, that's $6,400 a month times 12 months is almost 76 grand. So the opportunity cost on revenue is like $76,000 before we even look at the other, the other items. And that capital, if you, if you think about, you know, if that was on average over about a, let's say a four or five year period of time, because that's how long she's had most of the properties. So times 12 months, times four years, that's almost $307,000 worth of revenue potential that's missing that could have gone into paying down mortgages, could have gone into buying new properties, could have gone into a whole bunch of things. And so coulda, woulda, shoulda. The end result is it's not there. But that's the, that's part of the opportunity cost of again, one of the restrictive factors in a given marketplace. Now, not all marketplaces have rent controls. And the end result is she does have huge amount of equity that's accumulated because of good market timing, buying at the right time. And realistically she's, there's probably around $350,000 of additional equity in each one of those properties that's been created. So she has that value, but that value is trapped in the property. She can only realize that value if she sells the units and she can't raise rents because of good quality tenants. Well, she doesn't want to kick out the good quality tenant, you know, so you're kind of like always looking at these different variables and you're, there's little restrictions placed on these variables. Whereas if you counterbalance that to having the infinite banking system set up, you would have been able to have access to a huge amount of capital to do that. Imagine you could have increased those rents to the market, what the market would bear, and you could have flown that into a system of, that you have more control over building equity inside of insurance contracts. And then you could have been buying back the, the mortgage debt if you wanted to, to reduce your dependency on that variable rate increase. So again, it's all a what if scenario, but it's about changing the way that we're thinking about the same given variables. Once you're incorporating the process of infinite banking into your life, the way that you start to think through the different possibilities, the different potential on any given set of circumstances changes because you simply have more, more options on how you can choose to deal with those variables than you did before. And that's really what it boils down to. It's, you know, Nelson was really fond of a quote by a guy named Bill Linderman. I don't know who builder Lindeman was, I just remember the quote. And Nelson would say, does having readily available access to oper to capital take away any of your opportunities? It doesn't. It can only enhance your opportunities. And that's really the focus on what the principles of becoming your own banker is all about. It's building and enhancing your readily available access to capital so that you can take advantage of opportunities. Now, whether that opportunity presents itself because the real estate market changed or a presidential election comes up, or the stock market makes a shift or whatever, or the interest rate changes, any number of these factors creates an opportunity. It just is a matter of whether you are knowledgeable about the subject matter and you have the capital access to take advantage of that opportunity. And our hope is that through, you know, watching our content, continually investing in your, your own financial knowledge base, working with good coaches, engaging in our regular quarterly coaching segments, these kinds of things, you're always positioning yourself for the best possible outcome. And the way that you do that is through a combination of capital access, liquidity and knowledge base. Without, you know, if you can have good capital access but no knowledge base, you're probably not going to have, you know, see the highest caliber of opportunities. But when you marry those two things together, because you're always growing, you're always developing your own knowledge, your own, your own systems, your own thinking, you are in a much better position than your peers because of it.

Love it. Thank you so much. That time, money and knowledge, right, that's.

Your key to achieving the trifecta of financial success. Anyhow, Jinjin, this was awesome. Thanks for spending some time with me and with our listeners on your, on your birthday today, it's fantastic. Again, happy birthday. So, everyone in the chat box, make sure you type a happy birthday to Jinjin. And you know, again, till the next time we get a chance to do this, I appreciate you so much and thanks for being one of the most bubbly and happy and giant smiling members of our team. I just love your energy. It's infectious. If anyone gets a chance to spend some time one on one in person with Jen, Jen, you, you'll love it. You'll have a great opportunity and you'll, you'll fill your tank of joy just by being around her presence.

So thanks, Jen Jen thank you, Richard. Bye, everyone.

Cheers.