1 00:00:02,310 --> 00:00:04,800 Robert Plank: Welcome back to the marketer of the day podcast. 2 00:00:04,800 --> 00:00:08,820 We're here with Siri, Abraham. And he is from Finn asset 3 00:00:08,820 --> 00:00:11,640 protection.com, where they are all about growing your money 4 00:00:11,670 --> 00:00:15,180 safely, predictably and guaranteed. Oh, Siri is a 5 00:00:15,180 --> 00:00:18,570 financial planner. He is a member of the bank on your self 6 00:00:18,570 --> 00:00:21,870 organization. He helps real estate investors, business 7 00:00:21,870 --> 00:00:25,470 owners, and full time employees grow safe and predictable 8 00:00:25,470 --> 00:00:28,890 wealth, regardless of market conditions. Using a financial 9 00:00:28,890 --> 00:00:32,580 strategy that has been around for 160 years, we will find out 10 00:00:32,580 --> 00:00:36,090 all about real estate and investing growing your business 11 00:00:36,120 --> 00:00:38,310 money, everything that comes along with that glad to be 12 00:00:38,310 --> 00:00:39,300 talking to your friend. 13 00:00:40,470 --> 00:00:41,730 Unknown: Robert, thank you so much for having me on. I 14 00:00:41,730 --> 00:00:42,300 appreciate it. 15 00:00:42,869 --> 00:00:45,839 Robert Plank: I appreciate you. And so what has been your 16 00:00:45,839 --> 00:00:48,539 passion in the last year? So as far as there's so many subjects 17 00:00:48,539 --> 00:00:51,089 to talk about with money and investing and things like that, 18 00:00:51,089 --> 00:00:54,089 but what has you personally fired up? Yeah, 19 00:00:54,120 --> 00:00:56,880 Unknown: um, what hasn't been personally fired up is just 20 00:00:56,880 --> 00:01:00,630 knowing kind of how to grow wealth kind of predictably, not 21 00:01:00,630 --> 00:01:04,290 having to take unnecessary risks. Because I feel like a lot 22 00:01:04,290 --> 00:01:08,040 of people think that you have to have risks to grow your money. 23 00:01:08,040 --> 00:01:11,790 And based on what we've been doing lately, along with the 24 00:01:11,790 --> 00:01:14,160 bank on yourself concept we've been, we've been able to help 25 00:01:14,160 --> 00:01:17,130 clients grow wealth, you know, predictably and not have to 26 00:01:17,130 --> 00:01:20,640 worry about those uncertain conditions. 27 00:01:21,630 --> 00:01:25,620 Robert Plank: Will fantastic and and, and I can see how maybe it 28 00:01:25,650 --> 00:01:28,830 it goes against a lot of our nature to a free will want to 29 00:01:28,830 --> 00:01:32,070 take shortcuts, right? They want to do things fast, they want 30 00:01:32,070 --> 00:01:36,120 they want risks. And so growing wealth, predictably risky sounds 31 00:01:36,120 --> 00:01:39,420 like something that maybe we need to turn down, but the 32 00:01:39,420 --> 00:01:42,780 emotional part and turn up the logical part of our brains. And 33 00:01:42,780 --> 00:01:45,540 so you say that there's this bank on your self concept that 34 00:01:45,540 --> 00:01:48,210 makes it possible. So what the heck is that? And what are you 35 00:01:48,240 --> 00:01:48,870 know about it? 36 00:01:49,140 --> 00:01:51,870 Unknown: Yeah, definitely. So, the bank on yourself concept is 37 00:01:51,870 --> 00:01:54,120 really based off of something called the Infinite Banking 38 00:01:54,120 --> 00:01:57,360 concept, they're very similar. Both are concepts for their 39 00:01:57,360 --> 00:02:00,840 trademarks, and brand names. bank on yourself was invented by 40 00:02:00,840 --> 00:02:04,080 family, Ellen. And what it is, is, it's a way to kind of take 41 00:02:04,080 --> 00:02:08,340 back control of your financial life, a way to replace your 42 00:02:08,340 --> 00:02:12,330 banker. And really, the concept comes from a couple of problems. 43 00:02:12,330 --> 00:02:15,720 So one problem that a lot of entrepreneurs have is the amount 44 00:02:15,720 --> 00:02:19,500 of interest they pay to lenders. Another problem that that 45 00:02:19,500 --> 00:02:23,550 entrepreneurs have is market conditions. And then the third 46 00:02:23,550 --> 00:02:25,890 could be taxes. So we're taking really the concept, and we're 47 00:02:25,890 --> 00:02:29,580 addressing all of these problems with one concept. So bank on 48 00:02:29,580 --> 00:02:32,700 yourself could help you recoup the interest you would otherwise 49 00:02:32,700 --> 00:02:36,420 pay to lenders, help you mitigate against market risks, 50 00:02:36,450 --> 00:02:40,200 and then also help you mitigate your tax liability in the long 51 00:02:40,200 --> 00:02:44,190 term. And what it really is like the technical parts of it, are 52 00:02:44,790 --> 00:02:48,090 you taking pretty much out of all the four, there's about 450 53 00:02:48,090 --> 00:02:50,700 Financial vehicles out there, and we want to take one of those 54 00:02:50,700 --> 00:02:53,490 vehicles, at least one of those vehicles that would help us 55 00:02:53,490 --> 00:02:56,280 address those three problems, the interest, the taxes, and the 56 00:02:56,280 --> 00:03:00,060 market risks, and of those 450 Financial vehicles, there's 57 00:03:00,060 --> 00:03:03,360 actually the only one that could do all of those things. And that 58 00:03:03,360 --> 00:03:05,910 is dividend paying whole life insurance. So people are like, 59 00:03:06,540 --> 00:03:08,730 you know, I didn't you know, people think that when it comes 60 00:03:08,730 --> 00:03:10,860 to whole life insurance, it's only just life insurance. And 61 00:03:11,430 --> 00:03:13,470 there is obviously a life insurance component, but there's 62 00:03:13,470 --> 00:03:16,770 also a cash value component, and the cash value component and is 63 00:03:16,770 --> 00:03:20,280 really how an entrepreneur could mitigate your taxes, mitigate 64 00:03:20,280 --> 00:03:24,150 market risks and, and take back the interest that would 65 00:03:24,150 --> 00:03:27,270 otherwise pay to lenders. So I'll kind of pull over for now 66 00:03:27,300 --> 00:03:29,280 but that's pretty much what it is bank on yourself is using 67 00:03:29,280 --> 00:03:31,950 dividend paying whole life insurance for you to become your 68 00:03:31,950 --> 00:03:35,130 own source of financing and for you to grow your your business 69 00:03:35,130 --> 00:03:38,190 internally using your own dividend paying whole life 70 00:03:38,190 --> 00:03:39,030 insurance policy. 71 00:03:39,870 --> 00:03:42,420 Robert Plank: Okay, so dividend paying whole life insurance 72 00:03:42,420 --> 00:03:46,710 policy. So So what does that look like? Like when we sign up 73 00:03:46,710 --> 00:03:50,190 for that? Like, like, where do we go? And like, what kind of 74 00:03:50,190 --> 00:03:52,710 like rough numbers are involved? Because that kind of like you 75 00:03:52,710 --> 00:03:55,410 alluded to there, like with like the whole life insurance and all 76 00:03:55,410 --> 00:03:59,070 that you picture, maybe like paying in, you know, month after 77 00:03:59,070 --> 00:04:01,770 month, and then like decades later it cashes out but if 78 00:04:01,770 --> 00:04:04,320 there's a dividend to be paid, that's a little bit interesting. 79 00:04:05,160 --> 00:04:05,550 Yeah, 80 00:04:05,550 --> 00:04:08,400 Unknown: exactly. So the first step is you'd want to work with 81 00:04:08,400 --> 00:04:10,770 an advisor who really understands dividend paying 82 00:04:10,770 --> 00:04:14,160 whole life insurance, who does that most as most of their work, 83 00:04:14,310 --> 00:04:17,700 not just an insurance agent who could sell you whole life 84 00:04:17,700 --> 00:04:19,860 insurance you want to work with, like a bank on yourself 85 00:04:19,860 --> 00:04:21,570 professional, for example, that's what I am, I'm big on 86 00:04:21,570 --> 00:04:23,490 yourself professional, I went through an eight week training 87 00:04:23,490 --> 00:04:26,700 program on how to structure a specially designed whole life 88 00:04:26,700 --> 00:04:30,060 policy so that way, that you could actually use them for 89 00:04:30,060 --> 00:04:32,370 their function, not just the title of it, but actually the 90 00:04:32,370 --> 00:04:34,800 function of it, where you could use it to become your own source 91 00:04:34,800 --> 00:04:37,920 of financing. You could grow wealth significantly over time. 92 00:04:38,340 --> 00:04:41,310 And you could use it in many different ways. There's so many 93 00:04:41,310 --> 00:04:44,130 different ways you can use it. For example, entrepreneurs use 94 00:04:44,130 --> 00:04:47,400 it all the time for hire with hiring employees for employee 95 00:04:47,400 --> 00:04:50,610 benefits, or you could use it as a Buy Sell agreement between two 96 00:04:50,610 --> 00:04:54,060 people. There's, you know, there's an infinite way of using 97 00:04:54,090 --> 00:04:57,690 infinite banking or bank on yourself. But really, it comes 98 00:04:57,690 --> 00:04:59,580 down to the adviser the person you're working with, so you 99 00:04:59,580 --> 00:05:01,290 don't want to go out there and do this on your own. You want to 100 00:05:01,290 --> 00:05:04,290 work with an actual adviser who knows how to do this. And then 101 00:05:04,290 --> 00:05:06,630 obviously, you want to address your concerns and your 102 00:05:06,630 --> 00:05:08,970 objectives. What is it that you want to accomplish? What is that 103 00:05:08,970 --> 00:05:12,480 you want to, you want to do to kind of talk a little bit about 104 00:05:12,510 --> 00:05:15,000 life insurance, there's really three types of life insurance, 105 00:05:15,030 --> 00:05:18,570 there's Term, Whole Life and universal term is pretty much 106 00:05:18,570 --> 00:05:20,940 the way it sounds, it's a set period of time, usually 10 107 00:05:20,940 --> 00:05:24,060 years, 20 years or 30 years. It has a start date, it has an end 108 00:05:24,060 --> 00:05:26,280 date, and it's just life insurance only. So somebody, for 109 00:05:26,280 --> 00:05:29,670 example, 40 years old, does a term 10 year term life policy, 110 00:05:29,970 --> 00:05:32,010 that's all going to cover them for it's just life insurance for 111 00:05:32,010 --> 00:05:34,590 10 years, whole life is the opposite, it's for your whole 112 00:05:34,590 --> 00:05:37,110 life, there's a start date, not really an end date. And then 113 00:05:37,110 --> 00:05:39,360 there's also cash value involved. So there's equity 114 00:05:39,360 --> 00:05:42,180 involved in the life insurance policy. And as you're paying 115 00:05:42,180 --> 00:05:46,560 into it, a portion of your premiums you're paying into are 116 00:05:46,560 --> 00:05:48,750 going towards the cash value, and then a portion are going 117 00:05:48,750 --> 00:05:51,990 towards the life insurance. And over time, as you're building up 118 00:05:51,990 --> 00:05:55,080 the policy, you have cash value, and that cash value is going to 119 00:05:55,080 --> 00:05:58,080 earn interest and dividends from the insurance company. Although 120 00:05:58,080 --> 00:06:02,220 dividends are not guaranteed, they grow. We only work with 121 00:06:02,220 --> 00:06:04,410 insurance companies who have a proven track record of paying 122 00:06:04,410 --> 00:06:07,710 dividends for over 100 years. So that's how the cash is going to 123 00:06:07,710 --> 00:06:10,320 grow. And then universal, there's a third type of life 124 00:06:10,320 --> 00:06:13,320 insurance and in essence, it's a combination of term and whole 125 00:06:13,320 --> 00:06:13,710 life 126 00:06:15,180 --> 00:06:16,950 Robert Plank: are fantastic. Well, that's a lot of 127 00:06:16,950 --> 00:06:20,820 information, but it's good to know. And, and, and with a lot 128 00:06:20,820 --> 00:06:23,730 of this, I don't know a lot of this money. So sometimes it's 129 00:06:23,730 --> 00:06:27,240 easy to get a little bit bored with it right? And to say like, 130 00:06:27,270 --> 00:06:29,970 oh, well, thinking about, you know, death or thinking about 131 00:06:30,000 --> 00:06:32,610 money that will pay out like decades from now, sometimes 132 00:06:32,610 --> 00:06:34,800 there's like a little bit of like, of a mental game involved 133 00:06:34,800 --> 00:06:38,490 with these numbers. And so do you ever find yourself having 134 00:06:38,490 --> 00:06:42,540 to, like, re motivate or re energize yourself to get excited 135 00:06:42,540 --> 00:06:46,290 about some of this stuff? Or is it naturally get you fired up? 136 00:06:46,800 --> 00:06:49,260 Unknown: Yeah, so this is more of a way of it's not so much of 137 00:06:49,260 --> 00:06:52,140 a product that one would just buy, it's a way of living, it's 138 00:06:52,140 --> 00:06:54,030 a way of changing certain things. And then yeah, 139 00:06:54,030 --> 00:06:59,430 definitely, like, it takes time to for for us as the advisor as 140 00:06:59,430 --> 00:07:02,310 well as with clients, it takes time to kind of adapt to this. 141 00:07:02,520 --> 00:07:05,700 But once once clients, you know, watch our podcast, you know, we 142 00:07:05,700 --> 00:07:07,860 have a podcast called thinking like a bank, once they watch 143 00:07:07,860 --> 00:07:10,860 their podcasts, they listen to our material, they read some of 144 00:07:10,860 --> 00:07:14,700 our blogs and things like that our book, then it kind of 145 00:07:14,700 --> 00:07:17,220 becomes a way of living where they understand the language. 146 00:07:17,310 --> 00:07:19,920 And the same is true with us if we implement this in our in our 147 00:07:19,920 --> 00:07:22,830 business in our personal lives. So it becomes a way of living 148 00:07:22,830 --> 00:07:25,980 really. And I think that's that's what you really need in 149 00:07:25,980 --> 00:07:28,350 order to be successful with this concept. It's a way of living, 150 00:07:28,350 --> 00:07:31,170 it's a concept, not just so much of something that you would just 151 00:07:31,170 --> 00:07:34,200 buy one time, and that's it. There's, it's an ongoing 152 00:07:34,200 --> 00:07:38,040 process, you know, with all our all of our clients, we have like 153 00:07:38,970 --> 00:07:42,240 a six month review. So every six months, we're getting together 154 00:07:42,240 --> 00:07:45,180 usually over zoom, because we work with clients in all 50 155 00:07:45,180 --> 00:07:47,880 states. So a lot of is going to be virtual, well, every six 156 00:07:47,880 --> 00:07:51,330 months, we get together on Zoom, and we really look over their 157 00:07:51,330 --> 00:07:54,120 cash values and their life insurance policies. We look at 158 00:07:54,120 --> 00:07:56,340 their real estate portfolios, we're looking at their debt, 159 00:07:56,370 --> 00:07:58,650 their overall debt. And we're kind of seeing like, is 160 00:07:58,650 --> 00:08:00,570 everything we're doing? Are we heading in the right direction, 161 00:08:00,600 --> 00:08:04,440 but are we truly providing value in every area, we're not just 162 00:08:04,470 --> 00:08:06,690 you know, life insurance, salespeople only focus on life 163 00:08:06,690 --> 00:08:10,170 insurance sales, we're also looking into, we're more of 164 00:08:10,170 --> 00:08:13,170 looking into their financial portfolio and being really their 165 00:08:13,170 --> 00:08:15,870 money coaches or financial coaches, and helping them 166 00:08:15,900 --> 00:08:18,990 mitigate the problems they're having, while also increasing 167 00:08:18,990 --> 00:08:20,670 the opportunities they look for, for example, the amount of 168 00:08:20,670 --> 00:08:23,160 wealth they have, the amount of dividends, they're earning, the 169 00:08:23,160 --> 00:08:25,170 amount of real estate they own, we're looking at all those 170 00:08:25,170 --> 00:08:28,260 positive numbers and also trying to improve them and increase 171 00:08:28,260 --> 00:08:29,010 them over time. 172 00:08:30,060 --> 00:08:31,890 Robert Plank: And that's really interesting, think about there 173 00:08:31,890 --> 00:08:35,460 that like you have kind of your main tool or your main idea. But 174 00:08:35,460 --> 00:08:38,340 then there was other other problems to be solved in 175 00:08:38,340 --> 00:08:41,340 addition to that, and that's I think that's just a good idea in 176 00:08:41,340 --> 00:08:44,130 general, right? Like if you if you sell a product in your 177 00:08:44,130 --> 00:08:47,460 business, don't limit yourself to just being that thing. Also 178 00:08:47,460 --> 00:08:50,370 look at what other kinds of problems you can solve. And so 179 00:08:50,370 --> 00:08:52,710 you mentioned there that you like, for example, meet with 180 00:08:52,710 --> 00:08:55,290 real estate investors, and you do this every six month thing. 181 00:08:55,380 --> 00:08:57,750 And you look at the whole picture. And so can you tell us 182 00:08:57,750 --> 00:09:01,110 about some of the the advice or the strategies you give to real 183 00:09:01,110 --> 00:09:03,900 estate investors to help them build their wealth? Yeah, 184 00:09:03,900 --> 00:09:06,060 Unknown: absolutely. Yeah. So the first step is we would want 185 00:09:06,060 --> 00:09:08,580 to identify like what they're currently doing in their lives, 186 00:09:08,580 --> 00:09:10,950 like, for example, their W two employees and real estate 187 00:09:10,950 --> 00:09:13,050 investors, are they full time real estate investors, we want 188 00:09:13,050 --> 00:09:16,140 to understand all the moving parts in their financial lives, 189 00:09:16,410 --> 00:09:18,660 we want to get we want to get a good financial picture, then we 190 00:09:18,660 --> 00:09:21,090 also want to get to know where they want to go. So what are 191 00:09:21,090 --> 00:09:24,480 their five year 10 Year 20 year goals for them their business, 192 00:09:24,690 --> 00:09:27,180 and then after we gathered all this information in the 193 00:09:27,180 --> 00:09:30,600 financial analysis, the next step is to kind of put together 194 00:09:30,600 --> 00:09:33,990 a solution. Like for example, one client that I was working 195 00:09:33,990 --> 00:09:38,220 with, he's like, He's seven years old. He one of his goals 196 00:09:38,220 --> 00:09:41,010 was to keep doing real estate, but he also wanted to plan for 197 00:09:41,010 --> 00:09:44,820 long term care. And rather than he wouldn't be he wouldn't have 198 00:09:44,820 --> 00:09:47,250 been able to do a long term care insurance policy because 199 00:09:47,280 --> 00:09:49,860 typically they they stop it, they stopped writing those 200 00:09:49,860 --> 00:09:53,340 policies after the age of 55 after one is the age of 55. So 201 00:09:53,400 --> 00:09:55,860 we needed to kind of come up with a creative solution to keep 202 00:09:55,860 --> 00:09:58,890 him doing real estate while also planning for long term care. So 203 00:09:58,890 --> 00:10:01,320 we started a single pre miam whole life insurance policy, 204 00:10:01,320 --> 00:10:05,070 that's a one time whole life policy, he put in, he sold one 205 00:10:05,070 --> 00:10:08,580 of his properties for $400,000 in cash, put all of it into a 206 00:10:08,580 --> 00:10:11,370 one time whole life policy, that means it doesn't require any 207 00:10:11,370 --> 00:10:14,460 more payments, put it into the policy. And immediately he had 208 00:10:14,460 --> 00:10:20,160 about $575,000 in death benefit or life insurance. And then that 209 00:10:20,160 --> 00:10:22,890 life insurance amount was actually he could use the entire 210 00:10:22,890 --> 00:10:28,020 575 for long term care if needed if he got to that point. And 211 00:10:28,020 --> 00:10:31,710 then he had about $350,000 in cash value in year one of the 212 00:10:31,710 --> 00:10:34,710 policy. Now every year, this policy would keep growing, both 213 00:10:34,710 --> 00:10:37,890 the life insurance and the cash value would keep growing even 214 00:10:37,890 --> 00:10:41,130 without any more premiums going into the policy. And that's how 215 00:10:41,130 --> 00:10:43,290 he was able to leverage that cash value, he was able to 216 00:10:43,290 --> 00:10:46,590 borrow against it use for more Real Estate without hindering 217 00:10:46,800 --> 00:10:50,130 the growth of the cash value or the life insurance. That's what 218 00:10:50,130 --> 00:10:52,200 kind of the cool thing is that you can collateralize it, 219 00:10:52,230 --> 00:10:55,590 meaning that you can borrow against it. It's not really an 220 00:10:55,590 --> 00:10:58,860 either or situation, it's not do I do whole life insurance, or I 221 00:10:58,860 --> 00:11:01,380 do real estate or I do you know, something else, it's a way of 222 00:11:01,410 --> 00:11:04,980 both. And you can do whole life insurance, fund the policy and 223 00:11:04,980 --> 00:11:08,220 then borrow against that. And then use for real estate use for 224 00:11:08,220 --> 00:11:11,280 other air for your business for other areas. So that way you 225 00:11:11,280 --> 00:11:13,860 have you're kind of duplicating your money and recycling it and 226 00:11:13,860 --> 00:11:16,830 duplicating it and able to do more than one thing with it. 227 00:11:17,760 --> 00:11:20,400 Robert Plank: And then that's super cool that but you kind of 228 00:11:20,550 --> 00:11:22,950 are aware of some of the strategies where you can put the 229 00:11:22,950 --> 00:11:25,830 money in a vase and then use it for multiple things. And so that 230 00:11:25,830 --> 00:11:28,170 way, you don't have to split your money or like you said, you 231 00:11:28,170 --> 00:11:32,310 don't have to do it as an either I do this, or I do that. And so 232 00:11:32,400 --> 00:11:35,730 at school, that you're kind of you have these kind of creative 233 00:11:35,820 --> 00:11:40,350 outside the box solutions for some of these specific people's 234 00:11:40,380 --> 00:11:43,650 custom needs. And so it's kind of kind of along those lines, 235 00:11:43,680 --> 00:11:46,470 you know, we have have a list of questions to ask you for this 236 00:11:46,470 --> 00:11:51,630 podcast. And one of them is Do you Do you prefer to invest in a 237 00:11:51,630 --> 00:11:54,900 business or save cash? What's kind of the solution there? 238 00:11:55,500 --> 00:11:57,540 Unknown: Yeah, good question. So yeah, definitely, I think both 239 00:11:57,540 --> 00:11:59,850 of them have pros and cons, right saving is you want to 240 00:11:59,850 --> 00:12:03,660 definitely save like, you want to be able to see your profits 241 00:12:03,660 --> 00:12:06,990 and actually grow it over time. You know, but the downside to 242 00:12:06,990 --> 00:12:09,330 saving cash is that if you have it just sitting in a bank 243 00:12:09,330 --> 00:12:12,480 account not doing anything, you lose the opportunity costs you 244 00:12:12,480 --> 00:12:14,220 could have earned had you invested that money somewhere 245 00:12:14,220 --> 00:12:16,680 else, you also lose to inflation. If we're assuming 246 00:12:16,680 --> 00:12:19,620 inflation is 3%, your value of your money is going down in 247 00:12:19,620 --> 00:12:22,530 value every year just sitting in the bank, not not growing for 248 00:12:22,530 --> 00:12:25,350 you, you're also making the banks richer, because the bank 249 00:12:25,350 --> 00:12:27,660 isn't taking your money. And then they're investing in 250 00:12:27,660 --> 00:12:30,870 different places, they're actually able to borrow like 10 251 00:12:30,870 --> 00:12:33,630 times your money. So if you put $1,000 in the bank, they can 252 00:12:33,630 --> 00:12:37,170 lift up their balance sheets, and then go and leverage their 253 00:12:37,200 --> 00:12:40,320 their account and borrow, you know, 10 times more than that, 254 00:12:40,860 --> 00:12:43,140 to invest in real estate and do all these other things that you 255 00:12:43,140 --> 00:12:45,510 could have done with that money. So I think that you know, to 256 00:12:45,510 --> 00:12:48,360 answer your question, Robert, it's definitely a way to do to 257 00:12:48,360 --> 00:12:52,080 do, I think it's hard to say one over the other, I think that you 258 00:12:52,080 --> 00:12:55,560 need to have like in a solution that's connected and can do both 259 00:12:55,560 --> 00:12:59,430 at the same time, like what if, for example, every, all your 260 00:12:59,430 --> 00:13:03,030 profits that he took 5% of all your profits, you put it into 261 00:13:03,030 --> 00:13:06,450 account, that's going to earn you four to 6% compound interest 262 00:13:06,450 --> 00:13:09,780 every year. And then from that account, you're able to leverage 263 00:13:09,780 --> 00:13:15,300 that borrow at like 1.9% APR from that account, and then flip 264 00:13:15,300 --> 00:13:18,090 and then roll that back into your business, and then grow 265 00:13:18,090 --> 00:13:21,360 your business and then even get tax deductions for borrowing 266 00:13:21,600 --> 00:13:25,590 your own money and having grow tax deferred. I think that's 267 00:13:25,590 --> 00:13:30,720 where, you know, it's, there's more to the financial picture. 268 00:13:31,260 --> 00:13:33,720 And this is what Infinite Banking and bank on yourself 269 00:13:33,720 --> 00:13:36,060 could do is that you could do these kinds of things. You know, 270 00:13:36,060 --> 00:13:38,730 I don't want to give tax advice. But you know, when you when you 271 00:13:38,730 --> 00:13:41,970 work with us, we also work with your CPA, we show you ways that 272 00:13:41,970 --> 00:13:45,000 you could reduce your tax liability, while also increasing 273 00:13:45,000 --> 00:13:47,610 your wealth and kind of not either or, but both and 274 00:13:47,610 --> 00:13:50,670 receiving cash for the future for retirement and then able to 275 00:13:50,670 --> 00:13:53,670 kind of recycle that money back into our business. And really do 276 00:13:53,670 --> 00:13:55,740 both save money and growth at the same time. 277 00:13:56,700 --> 00:13:59,160 Robert Plank: That's really cool to think about, and I'm getting 278 00:13:59,160 --> 00:14:01,560 from, from a few of these examples we're talking about, 279 00:14:01,650 --> 00:14:04,950 I'm seeing the value in this and, and not just going in alone 280 00:14:04,950 --> 00:14:08,370 and actually figuring out this money stuff by yourself. But 281 00:14:08,370 --> 00:14:12,360 going to someone who is trained in this such as you who can, who 282 00:14:12,360 --> 00:14:15,510 is seen all kinds of different scenarios and can kind of say, 283 00:14:15,540 --> 00:14:18,090 well, here's this box, and here's that box and kind of 284 00:14:18,150 --> 00:14:21,330 combine different strategies at the same time. It's really cool. 285 00:14:21,330 --> 00:14:23,940 And it's interesting to think about and so and it's one thing 286 00:14:23,940 --> 00:14:26,880 to talk about, you know, success stories and talk about the 287 00:14:26,880 --> 00:14:28,980 things that you've accomplished but one thing that I'm curious 288 00:14:28,980 --> 00:14:32,760 about are your own personal failures or maybe missteps so 289 00:14:32,760 --> 00:14:35,580 you have you had anything that you feel like sharing as far as 290 00:14:35,580 --> 00:14:40,050 like their like a business or or like a personal issue where you 291 00:14:40,050 --> 00:14:42,690 kind of got stuck a little bit and had to think your way out of 292 00:14:42,690 --> 00:14:43,920 it has anything come to mind? 293 00:14:44,310 --> 00:14:46,020 Unknown: Yeah, definitely entrepreneurship. You know, 294 00:14:46,020 --> 00:14:48,810 since we're talking about entrepreneurship, definitely one 295 00:14:48,810 --> 00:14:51,690 of my biggest failures and also my biggest successes to you 296 00:14:51,690 --> 00:14:54,180 know, come from entrepreneurship. And I really I 297 00:14:54,180 --> 00:14:58,800 got into entrepreneurship at the age of 26. So kind of just kind 298 00:14:58,800 --> 00:15:02,610 of young and odd. My first year I failed as an entrepreneur, 299 00:15:02,610 --> 00:15:06,240 because looking back, now I can connect the dots going 300 00:15:06,870 --> 00:15:10,680 backwards, I got distracted by a lot of different opportunities. 301 00:15:10,680 --> 00:15:12,930 So I would start something and then put it on hold, and then 302 00:15:12,930 --> 00:15:15,810 try to do something else, like a different type of financial 303 00:15:15,810 --> 00:15:19,800 service or insurance. And that was kind of my biggest, my 304 00:15:19,800 --> 00:15:22,500 biggest mistake that I did or misstep is that I didn't focus 305 00:15:22,500 --> 00:15:26,340 on one thing and stick to it, I kept bouncing around. And then 306 00:15:26,340 --> 00:15:29,370 eventually, I had to put my entrepreneurship on the side, my 307 00:15:29,370 --> 00:15:32,460 business on the side and then go get a W two job. And then 308 00:15:32,460 --> 00:15:34,620 eventually I came back to write this is what I do. Now I'm full 309 00:15:34,620 --> 00:15:38,910 time self employed, I do nothing else, but my company. And it was 310 00:15:38,910 --> 00:15:42,600 obviously a learning learn from the mistakes I learned. Now, if 311 00:15:42,600 --> 00:15:45,270 I come across different opportunities I evaluated I 312 00:15:45,270 --> 00:15:48,780 measured the amount of time and money it's going to cost me if 313 00:15:48,780 --> 00:15:52,830 it's going to be greater than my budget and greater timewise. And 314 00:15:52,830 --> 00:15:55,050 money, it's going to pull me away from my business, I'll 315 00:15:55,050 --> 00:15:57,210 probably decline it, I ended up declining, declining more 316 00:15:57,210 --> 00:16:01,530 things. Now because I have like a system of of prioritizing the 317 00:16:01,530 --> 00:16:04,290 top things that I need to do for my business to grow it to move 318 00:16:04,290 --> 00:16:06,810 the needle in the right direction. And if things are 319 00:16:06,810 --> 00:16:09,450 going to hinder that, or slow that down that I just completely 320 00:16:09,450 --> 00:16:11,910 like exit Oh, it's almost like an algorithm like, if this will 321 00:16:11,910 --> 00:16:15,060 help you improve your business then proceed. If not, then 322 00:16:15,060 --> 00:16:18,600 decline. No. So that's how my mind is thinking now. And it's 323 00:16:18,600 --> 00:16:21,810 not from, you know, it's not so much of just being lucky. But 324 00:16:21,810 --> 00:16:25,980 it's really of learning from mistakes. So, you know, when you 325 00:16:25,980 --> 00:16:29,070 see, it's easy to learn from mistakes, because you have a 326 00:16:29,070 --> 00:16:32,160 second chance at doing it. And that's kind of how I look at 327 00:16:32,160 --> 00:16:34,500 failure, I look at failure as almost as an opportunity to 328 00:16:34,500 --> 00:16:37,170 learn from it, it's almost like a good thing to fail, because 329 00:16:37,170 --> 00:16:40,260 it's also it's like a wake up call, to improve and to pivot in 330 00:16:40,260 --> 00:16:41,730 a different direction moving forward. 331 00:16:42,570 --> 00:16:44,520 Robert Plank: I like that a lot. And you mentioned a few minutes 332 00:16:44,520 --> 00:16:47,310 ago about a whole idea of like connecting the dots, which you 333 00:16:47,310 --> 00:16:51,240 can only do looking backwards. And then yeah, and then the way 334 00:16:51,240 --> 00:16:54,660 you put it, which is like, well, when you fail, and then you come 335 00:16:54,660 --> 00:16:57,660 up with a similar scenario later on, it's like you kind of have 336 00:16:57,660 --> 00:17:00,240 two choices, either you can learn from the failure and try 337 00:17:00,240 --> 00:17:03,060 to do something a little better, a little different, or ignore 338 00:17:03,060 --> 00:17:05,700 the past failure. And then you might end up in the same exact 339 00:17:05,700 --> 00:17:09,480 boat that you found yourself in to begin with. And then also 340 00:17:09,480 --> 00:17:11,460 like, you know, you mentioned there about, like, sort of that 341 00:17:11,460 --> 00:17:14,580 that algorithm way of thinking when it conjures up for me is 342 00:17:14,670 --> 00:17:17,730 whenever I've had to make like a difficult decision or a life 343 00:17:17,730 --> 00:17:21,090 decision or say yes to this or say no to that. It's really easy 344 00:17:21,090 --> 00:17:24,630 to just say like, or it's tempting to say, well, here's 345 00:17:24,630 --> 00:17:29,070 like just my, my single dimension, like thing to do. But 346 00:17:29,070 --> 00:17:31,410 even while you're describing your thought process, like 347 00:17:31,470 --> 00:17:34,680 there's always like a number of factors, right? And so if you 348 00:17:34,680 --> 00:17:36,990 can kind of look at and sometimes it's only two or three 349 00:17:36,990 --> 00:17:40,200 factors, like time or money, sometimes that might be like 350 00:17:40,200 --> 00:17:43,530 focus or like teacher opportunity, or does this 351 00:17:43,530 --> 00:17:45,960 distract me from something else. And what it made me think of is, 352 00:17:46,080 --> 00:17:48,900 you know, I was in the same position as you at one point 353 00:17:48,900 --> 00:17:52,050 where I was like, trying to just the business and then try and 354 00:17:52,050 --> 00:17:54,660 like the job plus the business. And then and then at one point I 355 00:17:54,780 --> 00:17:58,110 do I think over a decade ago, I took the leap and been a full 356 00:17:58,110 --> 00:18:01,080 time as well. So we're both visiting the same club. But in 357 00:18:01,080 --> 00:18:04,620 order to make that decision, I kind of had to like emotionally 358 00:18:04,710 --> 00:18:08,130 Think of what are the five or six criteria, and then and then 359 00:18:08,130 --> 00:18:12,000 logically assign some maybe numerical values, and then look 360 00:18:12,000 --> 00:18:15,720 at, okay, based on these, like five criteria, making decision 361 00:18:15,750 --> 00:18:19,650 a, here's the score and decision B, there's a score, and just 362 00:18:20,100 --> 00:18:23,010 kind of making a light bulb go off in my head that that was the 363 00:18:23,010 --> 00:18:25,920 way to combine the the emotion and the logic, because if 364 00:18:25,920 --> 00:18:29,040 you're, if you're purely logic, you don't know if you're using 365 00:18:29,040 --> 00:18:31,920 like the right, the right numbers, but if you're purely 366 00:18:31,920 --> 00:18:34,200 emotion, then you're almost guaranteed to make an incorrect 367 00:18:34,200 --> 00:18:36,540 decision because you're just being impulsive. So it's got 368 00:18:36,570 --> 00:18:38,670 even just like kind of hearing you about that that kind of 369 00:18:38,670 --> 00:18:41,220 algorithm thinking makes you think, well, they're like, the 370 00:18:41,220 --> 00:18:45,240 best decisions we make are if we maybe have the foundation be the 371 00:18:45,240 --> 00:18:48,210 emotion and then the logic is finally like sort of what pulls 372 00:18:48,210 --> 00:18:48,810 the trigger for 373 00:18:48,810 --> 00:18:51,570 Unknown: us. 100% I couldn't agree more with you. Exactly. 374 00:18:51,570 --> 00:18:54,060 And this is how I think like, even like when when like, like 375 00:18:54,060 --> 00:18:57,120 consumers alike, we elect the majority of decisions based off 376 00:18:57,120 --> 00:18:59,550 of emotion, it starts with emotion, but then we justify it 377 00:18:59,550 --> 00:19:02,400 logically. And I think the same exact thing is true with like 378 00:19:02,400 --> 00:19:05,850 entrepreneurship is that you need I think, like it's kind of 379 00:19:05,850 --> 00:19:07,980 like a little bit of both in their own lanes in their own 380 00:19:07,980 --> 00:19:10,680 way. It's like entrepreneurship, for the most part, when you 381 00:19:10,680 --> 00:19:13,020 start entrepreneurship, it's kind of stupid, like you're 382 00:19:13,020 --> 00:19:15,600 gonna lose money, you're gonna have to invest your own money, 383 00:19:15,780 --> 00:19:18,150 you're gonna have to take a downturn, like a lot of people 384 00:19:18,150 --> 00:19:21,330 might look at that as a, that's not a smart thing to do. And 385 00:19:21,330 --> 00:19:24,150 then obviously, when you start making more money it becomes it 386 00:19:24,150 --> 00:19:26,760 becomes apparent that it was a smart thing to do. But really, 387 00:19:26,760 --> 00:19:29,220 you need the logic to back that up. So I think it's both you 388 00:19:29,220 --> 00:19:33,090 need that jump that almost like that, something that that that's 389 00:19:33,090 --> 00:19:35,970 going to take you out of your conventional shoes and kind of 390 00:19:35,970 --> 00:19:39,570 like get the get things moving. And then you also need to be 391 00:19:39,570 --> 00:19:43,500 able to logically back up your decisions, you know, from the 392 00:19:43,500 --> 00:19:46,950 math to the budgets to the time it's going to take you to do 393 00:19:46,950 --> 00:19:49,680 certain things and you know, the return on investment return on 394 00:19:49,680 --> 00:19:54,720 time. All these factors have to be like logically considered. I 395 00:19:54,720 --> 00:19:57,030 Robert Plank: like that a lot, but it's like it's a nuanced 396 00:19:57,120 --> 00:20:00,930 kind of situation and also the kind of Have a recurring theme 397 00:20:00,930 --> 00:20:04,650 whenever I talk to money people like yourself is how important 398 00:20:04,650 --> 00:20:08,460 it is to make that plan. So that way on those those times when 399 00:20:08,460 --> 00:20:11,190 you have like the super excited days or the bad days, and you're 400 00:20:11,190 --> 00:20:15,060 really tempted to sell this or buy this or do that, yeah, how 401 00:20:15,060 --> 00:20:18,120 does that relate to the plan, which I made, which that can 402 00:20:18,120 --> 00:20:21,600 change, but like have having that plan, it just seems like so 403 00:20:21,600 --> 00:20:25,110 important based on what you're saying here. Exactly. 404 00:20:25,110 --> 00:20:27,240 Unknown: This is what we do to when we're coaching clients, we 405 00:20:27,240 --> 00:20:30,810 figure out ways like, like, this even happened in my life, you 406 00:20:30,810 --> 00:20:33,810 know, like, I had trouble saving money. And then I realized after 407 00:20:33,810 --> 00:20:35,910 like, you know, so many years and getting into financial 408 00:20:35,910 --> 00:20:38,820 services, I realized that the reason why I was having trouble 409 00:20:38,820 --> 00:20:41,700 saving, and this is why a lot of people also have trouble saving 410 00:20:41,910 --> 00:20:45,090 is because their money is too accessible, it's too easy to get 411 00:20:45,090 --> 00:20:47,970 to, like you have a debit card or credit card, you have like, 412 00:20:48,000 --> 00:20:50,610 you know, quick pay, you have all these different ways of 413 00:20:50,610 --> 00:20:53,070 coming across, you're getting into your money, what if you can 414 00:20:53,100 --> 00:20:55,530 add a couple of obstacles between you and your money, like 415 00:20:55,530 --> 00:20:58,020 what if you what if, for example, every time he wanted to 416 00:20:58,020 --> 00:21:01,440 spend your money, you had to like drive to a bank, and you 417 00:21:01,440 --> 00:21:03,630 know, sign a form that said you wanted your money, then that 418 00:21:03,630 --> 00:21:06,060 would slow things down, your money would still be liquid, so 419 00:21:06,060 --> 00:21:08,850 it would still be accessible. But it would just be a few more 420 00:21:08,850 --> 00:21:11,730 obstacles to get to. And this is exactly what we do with clients. 421 00:21:11,730 --> 00:21:15,480 Now we create these savings vehicles that are liquid, but 422 00:21:15,480 --> 00:21:17,880 not too liquid, you know, you can't just swipe your debit card 423 00:21:17,880 --> 00:21:21,000 to access them, you have to sign a form, you have to submit it to 424 00:21:21,000 --> 00:21:23,910 the insurance company wait like three to five business days to 425 00:21:23,910 --> 00:21:27,840 get your funds out, it's liquid. But having these few obstacles 426 00:21:27,840 --> 00:21:32,250 in the way, like increase the chances of you saving by like 427 00:21:32,250 --> 00:21:34,680 something ridiculous, it was like, You're five times more 428 00:21:34,680 --> 00:21:37,500 likely to save this way, just by having a few obstacles to your 429 00:21:37,500 --> 00:21:40,020 money. And then kind of a whole bunch of light bulbs went off is 430 00:21:40,020 --> 00:21:42,660 like this is exactly what you need to do. You need to you need 431 00:21:42,660 --> 00:21:45,720 to take away your human nature from certain things and then add 432 00:21:45,720 --> 00:21:48,540 intentionally add in certain obstacles like look at think of, 433 00:21:48,540 --> 00:21:51,180 for example, like when you work at a large company, right, then 434 00:21:51,180 --> 00:21:54,690 you can work for a company that has, you know, $20 billion in 435 00:21:54,690 --> 00:21:57,690 cash reserves. And let's say for example, they say that you can 436 00:21:57,690 --> 00:22:01,560 get that you can go on a trip, and you have to you can you can, 437 00:22:02,610 --> 00:22:04,320 they would pay for your dinner, you just have to show them the 438 00:22:04,320 --> 00:22:07,800 receipt. And this is how you know how a lot of companies do 439 00:22:07,800 --> 00:22:10,050 this where you pay on your credit card array. And then 440 00:22:10,050 --> 00:22:12,930 afterwards, you submit to the finance department or whatever, 441 00:22:12,930 --> 00:22:15,270 whichever department, you would take a picture of the receipt 442 00:22:15,300 --> 00:22:17,850 and then send it in. And then it would go through like maybe 443 00:22:17,850 --> 00:22:20,940 three or four people like your boss, the finance department, 444 00:22:20,940 --> 00:22:24,210 maybe even the CFO might see the reports later on. And then they 445 00:22:24,210 --> 00:22:26,610 would approve the transaction to reimburse you they have all 446 00:22:26,610 --> 00:22:29,220 these obstacles in the way. So that way employees don't just 447 00:22:29,250 --> 00:22:31,980 spend all their money, there's there are rules to spending the 448 00:22:31,980 --> 00:22:35,280 company's money, even though they have enough money to pay 449 00:22:35,280 --> 00:22:38,640 for everybody's dinner, you know, every single day for like, 450 00:22:38,640 --> 00:22:41,280 you know, next 30 years. They're not going to they have obstacles 451 00:22:41,280 --> 00:22:43,620 in the way and I think that people need to people need to 452 00:22:43,620 --> 00:22:46,110 think like a bank think like an insurance company in the way of 453 00:22:46,110 --> 00:22:47,970 creating these obstacles between you and your money. 454 00:22:49,050 --> 00:22:51,000 Robert Plank: That's really powerful to think about. And 455 00:22:51,000 --> 00:22:53,940 almost counterintuitive, right? Because you would like to think 456 00:22:53,940 --> 00:22:56,880 that, well, if I have more freedom and more choices, then I 457 00:22:56,880 --> 00:22:59,820 would just have all this power. But you're so right that that 458 00:22:59,850 --> 00:23:02,940 it's sometimes we need to fire human nature. And then there's 459 00:23:02,940 --> 00:23:06,630 that whole aspect of like, money itself is a beast and it even 460 00:23:06,630 --> 00:23:10,050 like sneaks up on you. And you're reminded me of like, so 461 00:23:10,050 --> 00:23:12,630 many years ago, I had a girlfriend once who had never 462 00:23:12,630 --> 00:23:15,390 gambled and she didn't understand it. She said, why do 463 00:23:15,390 --> 00:23:18,360 people get so crazy gambling, and I took her to one casino. 464 00:23:18,450 --> 00:23:22,170 And she pulled one slot machine and she won the first poll. And 465 00:23:22,170 --> 00:23:24,960 then all the numbers were taken away. And there's all kinds of 466 00:23:24,990 --> 00:23:29,130 noises and sirens and bells. And so she almost went crazy like 467 00:23:29,130 --> 00:23:32,850 and suddenly just all this. All this flood of emotion happened. 468 00:23:32,850 --> 00:23:35,940 But we I think we've all been there where like money can 469 00:23:35,940 --> 00:23:39,150 sometimes really mess with us. So it's good to have some of the 470 00:23:39,150 --> 00:23:41,730 strategies in place that you're talking about. And I'm seeing 471 00:23:41,730 --> 00:23:45,150 the value that you delivered to your coaching clients. So can 472 00:23:45,150 --> 00:23:47,460 you tell us a little bit about that about if someone says, 473 00:23:47,460 --> 00:23:50,550 Okay, I know that I need help with my money. I know that there 474 00:23:50,550 --> 00:23:53,430 are things that I haven't even thought about that could help. 475 00:23:53,460 --> 00:23:56,880 So what do I do? Where do I get educated? And what's the next 476 00:23:56,880 --> 00:23:57,570 step to take? 477 00:23:58,350 --> 00:24:00,240 Unknown: Yeah, so definitely, there's a lot of education out 478 00:24:00,240 --> 00:24:02,220 there, obviously, you know, like, there's podcasts. You 479 00:24:02,220 --> 00:24:04,710 know, we're talking right now, YouTube, you know, you could 480 00:24:04,710 --> 00:24:07,590 check out our show thinking like a bank, it's on YouTube, as well 481 00:24:07,590 --> 00:24:10,050 as all the major platforms. There's also a couple books I 482 00:24:10,050 --> 00:24:12,420 recommend. So one book I recommend is becoming your own 483 00:24:12,420 --> 00:24:16,650 banker by Nelson Nash. And the second book is the bank on 484 00:24:16,650 --> 00:24:19,950 yourself Revolution by Pamela Yellen. If listeners reach out 485 00:24:19,950 --> 00:24:22,680 to us for a free 15 minute consultation, I'll send them 486 00:24:22,680 --> 00:24:24,900 both books. I'll send them the big undersell Revolution by 487 00:24:24,900 --> 00:24:28,470 Pamela Yellen through Kindle as well as becoming your own 488 00:24:28,470 --> 00:24:31,650 banker. So those two books talk about those two books are kind 489 00:24:31,650 --> 00:24:33,840 of the foundations of everything we're talking about. Now, this 490 00:24:33,840 --> 00:24:37,440 whole concept of becoming your own banker are mentioned in both 491 00:24:37,440 --> 00:24:40,590 of those books. So if listeners reach out for a free 15 minute 492 00:24:40,590 --> 00:24:44,790 call, I'll send them both of those books. And then obviously 493 00:24:44,790 --> 00:24:46,830 to you know, this is all about the people that professionals 494 00:24:46,830 --> 00:24:49,440 you work with not so much about the company's not so much about 495 00:24:49,440 --> 00:24:52,710 the tools or the software, it's about the people. You want to 496 00:24:52,710 --> 00:24:54,570 make sure that you're working with it either a bank on 497 00:24:54,570 --> 00:24:57,150 yourself professional or an infinite banking professional. 498 00:24:58,020 --> 00:25:00,750 And let's see, and then also to the There's a big difference 499 00:25:00,750 --> 00:25:03,810 between coaching and consulting. Right? So consulting is hey, you 500 00:25:03,810 --> 00:25:05,820 know, which option should I do? You know, should I do option one 501 00:25:05,820 --> 00:25:08,610 or option two or option three, you know, coaching is, let's 502 00:25:08,610 --> 00:25:11,040 look at everything. And what do you think is the best decision 503 00:25:11,040 --> 00:25:13,080 for yourself, you know yourself better than you. So it's a way 504 00:25:13,080 --> 00:25:15,960 of kind of internalizing, and coming up from coming up with 505 00:25:15,960 --> 00:25:18,360 decisions that you come up with your own decisions, when you're 506 00:25:18,360 --> 00:25:21,180 being coached, you just have somebody helping you reach that 507 00:25:21,180 --> 00:25:23,880 instead of consultant, we're more of coaches, you know, so 508 00:25:23,880 --> 00:25:26,430 you want to work with people who are going to coach you into the 509 00:25:26,430 --> 00:25:29,370 right direction. And you also want to work with people that 510 00:25:29,370 --> 00:25:33,420 are going to be unbiased to all financial products out there. So 511 00:25:33,420 --> 00:25:36,480 this is one major problem and financial services is that when 512 00:25:36,480 --> 00:25:39,030 you go to, for example, your local banker, a local insurance 513 00:25:39,030 --> 00:25:43,020 agent, or a local financial advisor, 90% of 90% of the time, 514 00:25:43,020 --> 00:25:45,870 they're going to be locked into certain captive contracts. So 515 00:25:45,870 --> 00:25:49,290 they can only sell certain products. And if you go to them, 516 00:25:49,290 --> 00:25:51,900 for example, this happens all the time with financial advisors 517 00:25:51,900 --> 00:25:54,480 and real estate. So if you go to your financial advisor, and 518 00:25:54,480 --> 00:25:56,850 you're like, hey, you know, you helped me do this mutual fund, 519 00:25:56,850 --> 00:25:59,190 we have $100,000, in mutual fund, it's been good, it's been 520 00:25:59,190 --> 00:26:01,830 doing, okay, I want to take some of this money out and put it 521 00:26:01,830 --> 00:26:04,920 into real estate, since that financial advisor is not going 522 00:26:04,920 --> 00:26:07,380 to make money out of real estate, and out of the fees 523 00:26:07,380 --> 00:26:10,590 associated with real estate investing, they cannot help you 524 00:26:11,190 --> 00:26:13,560 do that. So they're gonna want to convince you otherwise, to do 525 00:26:13,560 --> 00:26:15,660 that. Again, I'm not saying the financial advisors out there are 526 00:26:15,660 --> 00:26:18,660 shady, or the they have, you know, but I am saying that there 527 00:26:18,660 --> 00:26:22,560 are a lot of captive contracts and agreements, to the way that 528 00:26:22,560 --> 00:26:26,340 financial advisors operate you. But there are, there's that 10% 529 00:26:26,340 --> 00:26:28,830 that are completely biased and could help you in any direction 530 00:26:28,950 --> 00:26:32,640 you need to go into. So if you know, in our situation, for 531 00:26:32,640 --> 00:26:34,680 example, if somebody does want to get into passive real estate 532 00:26:34,680 --> 00:26:36,660 investing, we could help them if they wanted to get into active 533 00:26:36,660 --> 00:26:38,850 real estate investing, we can coach them that way. If they 534 00:26:38,850 --> 00:26:41,160 wanted to do stocks, bonds, whatever mutual funds, we can 535 00:26:41,160 --> 00:26:43,920 also help them that way. So we're completely unbiased, into 536 00:26:43,920 --> 00:26:45,270 any direction they go towards. 537 00:26:46,080 --> 00:26:49,800 Robert Plank: So I love that you give us all the information you 538 00:26:49,800 --> 00:26:52,740 give us all the choices, a lot of things to think about. And as 539 00:26:52,740 --> 00:26:56,490 you're explaining all that what comes to mind is like, how many 540 00:26:56,520 --> 00:26:59,970 how much of our lives are governed by money, how much our 541 00:26:59,970 --> 00:27:03,090 lives in, you know, earning money, spending money, doing 542 00:27:03,090 --> 00:27:05,670 things with money, thinking about money, or lack of it. I 543 00:27:05,670 --> 00:27:08,250 mean, this thing's this is something that we all need to be 544 00:27:08,250 --> 00:27:11,490 educated about. They say what you focus on grows. So yes, 545 00:27:11,490 --> 00:27:14,310 focus on your money, you won't have anybody if you're more 546 00:27:14,340 --> 00:27:17,250 money minded than what you can avoid so many of those things. 547 00:27:17,250 --> 00:27:19,410 And we've all made these mistakes, right? All the 548 00:27:19,440 --> 00:27:23,280 mistakes of not making enough money or not managing our money 549 00:27:23,280 --> 00:27:26,580 correctly, or things like that. So things need to change, people 550 00:27:26,580 --> 00:27:29,130 willing to take this action. So if you're listening to this 551 00:27:29,130 --> 00:27:31,350 podcast right here, right now, which you are, because you're 552 00:27:31,350 --> 00:27:34,890 hearing our voices, you need to be claiming this 15 minute call 553 00:27:34,950 --> 00:27:38,880 that way, Sarah and his team can be sending you these two books 554 00:27:38,880 --> 00:27:41,640 in the mail. So here's the place to go. What's the website? Where 555 00:27:41,640 --> 00:27:43,500 do we sign up? Where do we take the next step? 556 00:27:43,770 --> 00:27:48,480 Unknown: Yes, that's a fin asset protection.com It's FYI, n 557 00:27:48,780 --> 00:27:53,670 asset, a SS e t protection.com. And then when you go there, 558 00:27:53,670 --> 00:27:56,790 there's a link is a schedule now, you could schedule the 559 00:27:56,790 --> 00:27:59,100 appointment. And there's also a way to connect with me on 560 00:27:59,100 --> 00:28:01,890 LinkedIn through the website, as well as our YouTube channel as 561 00:28:01,890 --> 00:28:04,470 well as our podcast. So yeah, if you want to do a 15 minute free 562 00:28:04,470 --> 00:28:08,550 consultation, it's Finn asset protection.com And then schedule 563 00:28:08,550 --> 00:28:11,760 the free 15 minute call. And then yeah, it's we do we work 564 00:28:11,760 --> 00:28:13,950 with clients in all 50 states. So it can be done either over 565 00:28:13,950 --> 00:28:14,670 the phone or over 566 00:28:14,670 --> 00:28:18,810 Robert Plank: zoom. Fantastic fin asset protection.com. It's 567 00:28:18,810 --> 00:28:21,930 just 15 minutes. I mean, in 15 minutes, what can you do? You 568 00:28:21,930 --> 00:28:25,200 could either watch part of a TV program or you can take these 569 00:28:25,200 --> 00:28:29,220 necessary steps to change your life fin asset protection is the 570 00:28:29,220 --> 00:28:32,670 place to go. And do you have any final parting words of advice? 571 00:28:32,670 --> 00:28:35,880 It's like a sentence or two to put a cap on our conversation 572 00:28:35,880 --> 00:28:38,370 here and send us on our way and make us feel good. And you think 573 00:28:38,400 --> 00:28:39,390 my mind yes, 574 00:28:39,390 --> 00:28:41,070 Unknown: think think like a bank. You know, remember to 575 00:28:41,070 --> 00:28:44,070 think like a bank. Don't just think of a consumer. Think like 576 00:28:44,070 --> 00:28:46,530 a bank. Think like a large corporation in the way that you 577 00:28:46,530 --> 00:28:50,160 handle your money and the financial decisions you make in 578 00:28:50,160 --> 00:28:50,670 your life.