Help Me With Sign Nebraska Banking Form

Industry sign banking nebraska medical history free

your voice is a little bit uh scratchy as well it is oh gosh hold on just this there we go it's starting here fantastic well first let me uh again welcome you all here uh jim i really appreciate uh being on here together and uh jim and i both are really excited about the information we want to share with you this evening obviously it's been a long three four five weeks just depending on what part of the country you're in and through this time i can tell you jim as a as a financial advisor having done this managed money for 21 years now i don't think i've ever seen a time when there was more confusion more uh just a lack of guidance and and candidly just a lot of concern in and amongst the economy i went through uh 2000 and 2001 with 911 the great recession obviously which was uh much more from a financial cause and and then today and i will tell you it is there are similarities to all of them but it's really unique and one of the things that i wanted to share with you that jim and i we we happen to be on a a call having a conversation together we really wanted to share with people the hope and the opportunity that is out there um through every crisis there is always opportunity but you have to be willing to think just a little bit differently and if you look at my screen one of my favorite quotes is up there from albert einstein we cannot solve our problems with the same the same thinking that we used when we created them and i think that is so true today jim as much as ever before is that we really in order to recognize opportunity we really have to change our thinking and and my mentor and yours jim has always told me that once you truly understand the problem the solution becomes very very simple and and so our our objective tonight is to share with you a couple of the problems but also give you some practical advice and some solutions that you can take action on to prepare yourself and your family as we come out of this into a recovery so that you're prepared to take advantage of the opportunities that are out there so uh without further ado let's let's let's get going so again we've got to understand the problem and and jim and i were talking one of the things that i really see a lot is that people are making decisions based on information that may have been accurate 10 15 20 even 30 years ago but what has happened today is that the variables have changed greatly so maybe we were investing money in retirement plans because of the old adage hey you're going to retire in a lower tax bracket but what we'll find is maybe those that's not the case and if you knew that that wasn't the case would it change the decisions today and the answer to that is a lot of times it would so i'd like to show this as an example to show you that in this new economy as we call it the variables of the economy have changed greatly just from 1990 and 2000 back in 1990 the prime interest rate was around 10 well today it's as cheap as it's ever been it's three and a quarter our population because of the great baby boomer generation there are over 95 million americans age 55 and older where just 20 or 30 years ago it was about 45 million gm people are living longer today so they have to their money has to last longer for them uh the the life expectancy in 1990 was 75. today for a female it's 86 years old or some of us guys that are out there it's only 83 and a half so it's it's a little bit different that's according to social security you know in taxes today the highest income tax bracket today is 36 where in 1990 it was 31. and jim you and i both know that that's projected to go up in 2025 when the trump tax cuts uh you know when they uh when it changes again and they sunset it's going to resume and go back to the to the 40 as the top bracket and then one of the biggest things that concerns me today jim is when we look at how our federal debt has really accelerated so it's over 23 trillion dollars with a t and jim that's just going to continue to grow and and so for you guys out there understanding the stream that that puts on us and i i wanted to go through just a simple example uh just to show you that and to help us understand how our decisions today can impact where we are financially tomorrow so i want to show you guys just i call it a family balance sheet and so walk along with me there's a family out there in our country today earning thirty six thousand dollars a year but when we dug a little deeper we realize there's a big problem they're spending forty seven thousand dollars a year so right away that really jumps off the page at you but when we dig deeper we realize that they have 230 000 of revolving debt so we see the problem right now we're bringing in income that doesn't even meet the expenses we have but we've got revolving debt we've got a big hole that's over 230 000 and i ask people all the time how do you solve this problem what is the one thing you can do that can make a difference obviously people we would like to cut spending but again even if we cut spending by more than 35 it would just be breaking even and we couldn't even make a dent in the debt and so the number one thing people say obviously is file bankruptcy but let's assume that that's not an option because i think each and every one of you know exactly who we're talking about here with this example if i add 12 zeros you'll see that this was the federal budget in 2019. we brian i rounded the numbers we bought it brought in 3.6 trillion dollars of revenue we spent 4.7 trillion dollars and of course when we started the year out this is before all the cares package and the stimulus and all the things the recovery that's going on now we were already 23 trillion dollars in debt as a country now you might be sitting there saying justin why are you telling me all this i kind of already knew it and and so i tell you this because again i go back we've got to understand the problem before the solution that come can become clear to us and the biggest problem here and jim i'm going to ask you this question and put you on the spot the only way out of this is is we got to raise revenue as a country just like that family that guy that was making 36 000 he's got to get a second job or get a better job that earns more income well as a country as a as a as a us treasury how does the treasury increase revenue they have to increase income and so what they do is they got to tax us right that's right man so the way that that the country increases income is through taxation and so i usually pause right here and i always ask the question uh and i've given talks all across the country to thousands of people and i've only had one person ever raise their hand and say that they didn't think so i ask people all the time based on the knowledge you have now do you think taxes are gonna go up or go down in the future and the obvious answer is they have to go up jim yeah this is just a great little picture that shows that the average tax rates over history the highest marginal rate was over 58 and today we know we're at 36 and that's gonna sunset and go back to 40 if i can round so we know that taxes are heading up that one fact alone should makes a tremendous impact in what we do with our savings dollars there's a gentleman several of you heard the call and jim i think you were on there a couple weeks ago mr david walker who's the author of book comeback america and in his book he made a prediction all the way back in 2010 that if there wasn't significant physical reforms in our country if things didn't change that uh taxes could easily double by 2030. i like to tell people you know one thing jim for you to say edda for me to say it but who is this guy david walker well he happened to be the comptroller general of the united states uh for for almost 10 years under uh clinton as well as bush what that means is he was the cpa he was the accountant for our country he was the head account and david walker also served as a trustee of social security he's been involved with the congressional congressional excuse me budget office the man understands the numbers and when he makes a statement like that in fact on our call he said it could be sooner than 2030 because of all the spending and where we are from an economic standpoint right now and so that's important for us to understand because what it does is it makes an impact jim and where we park our money and so i want to start moving into our our wealth has to reside somewhere and so if you simplify if there's only three places we can park money we can park them in taxable accounts these are things like your savings your cds your money market maybe you've got a brokerage account that's not a retirement fund or we can store them in tax deferred vehicles we call them tax tomorrow these are your iras your 401ks real estate a lot of our retirement retired clients might have annuities these are things that are taxed in the future so i want to ask you a question i just want you to think about it for a second if you knew you had to pay a tax because remember we can't get away from death and taxes we knew we had to pay a tax would we rather pay it in a lower bracket or a fair price so even being from alabama i can even get that question right jim what i want to do is i want to pay the tax in the lowest bracket i possibly can and then there are some opportunities uh for taxes where they are uh tax-free we don't get to say that often uh obviously roth iras will allow you to do that but a lot of the clients we work with phase out on those and aren't able to participate but if you are great uh and obviously we don't want to park it in your safe but another area that has become extremely popular in the last few years as long as they're structured right are properly designed life insurance contracts they actually have i think it's uh 7702 gym in the tax code they actually have preferential tax treatment as long as they're structured properly and so so if we know we've got to pay a tax and we know that the variables have changed as we look at the new economy maybe we want to understand that we shouldn't defer every dollar we're investing or saving into count into accounts that are going to be taxed in the future or maybe we shouldn't save every dollar in an account and pay tax on it year in and year out just by understanding taxes we can increase the return and request increase the net dollars we have just by understanding how to use tax advantage accounts and so that's one of the areas i'm looking forward to diving into a little bit as we move forward so it's hard to make us an expert on everything jim and and i tell people all the time you know this this environment has made people think much more than ever before about understanding the difference between savings and investing and so if you don't get anything off of this call i hope this is one of the points that you take away that there's a really big difference between your savings dollars and your investing dollars so by definition savings is money that you can't afford to lose or you don't want to lose because it's earmarked for something specific in the future a lot of our clients say i'm saving for my kids education i'm saving for a lake house i'm saving uh to making a new investment in a business however investments by definition are the possible are investments by definition are things you can afford to take risk with and risk is the possibility of loss so when you think about investing that's money that you can't afford to lose in the short run and you've really got to separate the two because they're very very different so again savings is money you can't afford to lose you don't want to lose investing is money you can't afford to take risks with and so what i want to focus on today a little bit more and jim will get into how we can utilize it for invest investments but what i want to do is focus a little bit more on the savings component because today more than ever people have realized that savings is is an important part of your strategy jim one of the things people tell me all the time is justin what do i do my portfolio is down 20 30 40 in some cases what's the first thing i can do and the first thing that i tell people is you've got to understand what season of life you're in and where you are you need to have three to five years of money in a savings vehicle at least at minimum and i would hope you would have a lot more than that but what that does is it gives you a comfort level that you don't have to sell your investments at the worst possible time and i tell people this all the time if you don't have a savings strategy if you don't have a plan that's what's going to protect you as we come out of this for the next crisis that we go through financially whether it's a dot-com bubble like 2000 whether it's a financial crisis or here we have a health care crisis that has totally shut down our economy jim our our mentor nelson nash used to tell us where money is opportunity will find you and so being able to have a savings vehicle allows you to be in a position to weather any storm and take advantage of those opportunities when they come so i want to look through that four minutes so i i want to move kind of quick because there's a lot of information we want to cover tonight but i ask people all the time if you could wave a magic wand and create the perfect savings tool the ideal place for you to save money like we talked about before one of the things you would look for and jim it always comes back to five or six of the same things number one they want a competitive rate of return so they want to be sure their money's earning and it's competitive the next thing they want if they in a perfect world is they would like to be sure that that competitive return is guaranteed you know if we could wave a magic wand that'd be a great thing but it grows every day every week every month every year obviously the next one you guys can read as easy as i can is they want it to be liquid where they can get to it when they need it again in a perfect world they want it to be tax advantage uh creditor protected so that for a lot of our doctor clients that are on here or business owners that you can't get sued and lose it it's protected from creditors and then of course one of the things that jim i'm excited you're going to talk about we call it uninterrupted compounding you may not be familiar with that but i promise you by the end of the evening tonight you're going to understand what that means to you and how important it is so let's get started the first place i want to i want to talk about is the number one place people are saving or investing money today and i say that because they're vastly vastly different we do a lot of work with att employees and they have a 401k plan called the atnt savings plan but what's interesting about that is there's not one based on our definitions there's not one savings fee among it it's truly an investment plan designed for your 401k and your ira but it's called the savings plan and that's why i want to be sure tonight that you understand there really is a difference between the two and you're going gonna understand how to use those uh after this evening is finished so jim if you just looked at it this is where 18 trillion dollars in our country today 18 trillion dollars people have invested or saved in their 401k plan but based on our criteria that thousands of people have given us you only get two of the six that we're looking for you get a competitive return hopefully you might would argue that over the last five to six weeks but over time you have an opportunity to get a competitive return obviously not guaranteed in most cases it's not liquid unless you can qualify between that magic window of 59 and a half and now 72 it's obviously not tax-free uh most states is creditor protected but you certainly don't get uninterrupted compounding meaning if you take a dollar from there that dollar's gone and what it could earn for you so this is interesting to me jim because and i want you guys to understand this this is the number one place people are parking money today yet it checks only two of the six boxes can i use this example i'm gonna i'm gonna uh see if you'll be a guinea pig for me let's assume i've got a business opportunity i want you and i to be the nurse okay are you with me so far yep jim i want you to put up all the money okay yep you good so far i want you to take all the risk i want you to take all the risk i want you to manage it or pay somebody a fee annually to manage it and then i'm going to come back in about 20 years and see how good we did and i'll let you know what percent partner i am you interested in that business i'm not i like it justin but i'm not interested in that deal here's what's amazing me if you really understand it there's 18 trillion dollars parked in that business right now because not one of us knows what tax bracket we're going to be in when we retire and we're putting up most of the money if there's a match you need to take advantage of it but i'm talking about those dollars above and beyond that match or or dollars after tax dollars that you're contributing to iras great wealth accumulation tools but again the the variables have changed the dynamics have changed back in the 90s and 2000s that made a lot of sense because tax brackets were going down interest rates were much higher it was a totally different economy than it is today let's go to the next one a cds savings accounts yeah and i'm gonna move quickly obviously not a competitive return but they are guaranteed by fdic and they are liquid where you can get to them jim there's 10 trillion dollars parked in savings accounts and cds and money markets today again not as inefficient as efficient of a place excuse me as maybe we would want only two of the six let's move to bonds or mutual fund mutual funds or non-qualified type of accounts so again of those perfect six that most everybody wants again we're only two of the six we got a competitive return and we've got liquidity so jim i want to pause here for a second because what i think is so key and the point that i want you to take away is where is our storehouse dear my our mentor nelson nash who you and i both know he's the author of this book i'm going to hold it up right quick it's called becoming your own bank i'd love it for everybody out there that's on on tonight with listed copy of that book it's really a workbook for a 10 hour study that nelson would do live in person some of you guys on here heard him i had the privilege of probably hearing 20 of those but this was his workbook and one of the things he talks about in here is understanding where you store money where's your storehouse and and before we go into the next slide jim it really reminds me of a great story from the bible if you haven't seen it guys i'd highly recommend reading it starts in genesis around chapter 41 and goes through chapter 47 but it's about joseph and how god came to him and said uh right now times are good okay things are going well uh there's an abundance but there's gonna come a time when there's a famine so i want you to store up in the storehouses i want you to store the grain and the wheat store up for the famine and when you do you're going to have immense opportunities and sure enough joseph was able to do that and what you'll find out through that is people came to him and to his storehouse just like nelson said where there's money there's going to be opportunities people came to his storehouse and he had the opportunity to make tremendous financial gain for himself and his country because he had the right storehouse and he understood the economics of what was going on in egypt at the time and that's what nelson told us when we talk about having the ideal storehouse place to store our wealth when structured properly and jim's going to get into this we have a savings tool that can give us a competitive rate of return however jim what does it say on the second page of your properly designed life insurance contract that you have tells me the uh guarantees that my policy is going to grow every single day so well it's hard for guys like jim and that word guarantee but there are actual contracts that give you guaranteed growth inside of your contracts when they're structured properly number two the second line underneath that tells you that they're liquid you can access that money you're number one in the food chain you have access to your capital or the insurance company's capital and jim's going to walk through an example of that and that's really really important because it it opens up the door for those opportunities by the way when structured properly your money grows free you can look and look it up in 7702 and irs code it is credited or protected and the thing that is really important to me that i want you to remember is the uninterrupted compounding that comes with a properly structured life insurance contract it's based on the book becoming your own banker it's known as the infinite banking concept and it has made a big difference for me and my family as well as gyms i've been practicing this for our savings component now for over 12 years and we've utilized it in many different ways and i actually just found this slide yesterday and i wanted to share with you about why i've chosen to utilize this for our savings tool so this is a graph for you what you can see on here is the yellow orange line is the bond index over the last 20 years that we've been talking about and i think that blue line is the stock market index and what you can see is where we are today is they're almost they're almost dead even and my point in telling you that is what i've chosen to do is partner with insurance companies for the bond portion of my portfolio for the safe money portion of my portfolio because insurance companies buy more bonds than anybody in the world they're the best at it and they get discounts that you and i as individuals can't go out and get so i've chosen to go in partnership with these mutual strong insurance companies that we talked about to create a system that allows me to grow money in a tax advantage way that's guaranteed that's liquid where i can utilize it the reason that i want to utilize it is because it's going to create opportunities and again i go back it's not just jim and i saying this but here's david walker and a quote that he gave us just a few weeks ago where he says for his family he is chosen to utilize a significant portion of his retirement savings keyword to purchase products from financially strong insurance companies why because he knows that the variables have changed from where they were 20 years ago and 30 years ago and by understanding that it gives you an opportunity to create wealth just like ray kroc did with mcdonald's if you ever read the book or go see the movie you'll see he had a properly structured life insurance policy that he utilized to get mcdonald's up and off the ground no different than walt disney the exact same thing he could not get anyone to invest in his vision so he utilized the cash value from his life and contracts to build disneyland and turned into what it's turned into today so jim i want to pause here and just turn it over to you because the thing that's most exciting to me is we've talked about how to save money and how that helps us as we come out of a recession as we come out of a crisis but what i want to do is turn it over to you to show people how it can open up the doors of opportunity absolutely thank you justin great job and um you know as i'm sitting there listening to you talk about some of the things that nelson taught us there's a lot going on out there especially on the internet where people are teaching infinite banking not the way that nelson taught us and you know i think it's great to be on here with a bunch of people and show you really the way nelson intended infinite banking to work and in the way that he showed us how how it how it should work and you know it i always like to start here justin is is we've all played this game monopoly right and maybe we're playing games right now because um you know we're under quarantine or whatever but i'm gonna show you how to win every monopoly game that you ever play against people that don't know how to play because when most people play justin they they look at this they look at the dollars on the side of the board we look around and whoever's got the most money on the side of the board we think wow they're winning but there's only one rule of monopoly that matters and that rule is four houses equal a hotel and it doesn't matter if i have this side of the board or this corner or this side or this side is if i get hotels on my properties justin i'm going to bankrupt all the other players take all their properties i'm going to win right and you ever feel like justin that there are there are people out there in the real world that are playing the game of money and they're playing so well you don't even realize they're playing you ever feel like that yeah yeah so what most people are trying to do is something like this is they think that the goal is to climb the mountain right to ascend the mountain now excuse me justin justin if you're gonna go climb a mountain is the goal to get to the top of the mountain that's the first thing that comes to mind yeah you wanna you wanna ascend it and get to the feet that's right well you know and if you ask anybody who who was the first person to climb mount everest they always say sir edmund hillary right but he did sir edmund hillary didn't climb mount everest it was just edmund hillary he wasn't he wasn't knighted until he got down safely right so but 30 years before that there was a there was two other people that made it to the top it's kind of the it's debatable whether they made it to the top but but a lot of people believe they made it to the top and they froze on the way down and you never hear of those people as uh i think his name was george mallory you don't hear about george mallory and it's not sir george mallory because he didn't make it to he didn't make it down safely so when we think about accumulating money over our lifetime in those vehicles that you mentioned earlier that are government controlled right is we think that we're going to get to this top and then we're going to have enough money that we're gonna live on it the rest of our lives until we get down here and we die and we and we never ran out of money but there's a lot of potential problems if i'm in retirement right now justin after the last five or six weeks i'm nervous do i do do i have enough money right so there's a lot of things like distribution rates a lot of people think you know back in the 80s we thought in the 90s justin we thought that 10 was a good distribution rate now it changes a lot because today distribution rates if you use the monte carlo method are really between three and four percent how about sequence of returns what if you retired in uh february of this year are you in trouble yeah you got really unlucky on sequence of returns how about bad advice you ever heard of a financial planner giving somebody bad advice or or just being wrong or just not knowing what they're doing that never happens right so how a government changes you brought up a great one taxes taxes are going to change what if i'm just distributing my 401k right now and i think it's going to be i'm going to be in the 36 tax bracket forever well we can show through history that that's probably not going to happen here's my point is that with in with k2 and mount everest 56 of the people that die climbing those mountains climb on die on the way down so this is not really the goal to me if i had my assets working for me once i got to the quote top of the mountain i would just want to keep going up i would just want to keep on i wouldn't want to have that scarcity mindset of distribution i just want to have that abundant mindset of more assets that are going to give me more income so that's what we're going to talk about a little bit but we have to realize where we are okay there are really four types of people so which one are you you could be the employee right and you you exchange your time for income you can either work for wages or a fixed salary or you know or both but typically then unless you're really one of those lucky employees that's going to get a buyout or something or stock options or whatever it is you're never going to get really wealthy as an employee so then like you said we have a lot of doctors on the call business owners but they're really owned by the business right there's a high startup cost i mean think about how much debt doctors go into could go to school for 17 years or so depending on your specialty and um you know there's a high rate of failure if you're just going to go start your own business with no blueprint or plan your income's capped by your hours you don't own the business the business owns you and you're never really going to be truly wealthy or free you know um i always like to say and i know you like to say this and maybe i got it from you justin is is money gives you choices choices give you freedom that's really why we want to be wealthy is so that we can have freedom to do what we want to do when we want to do it and that's what a true business owner where they have plug-ins to an existing system and they get cash flow and the employees generate their income for the owner as unlimited income potential and a chance for true freedom and then the fourth quadrant which is the investor right they're making money while they sleep now one thing is i hope everybody on this phone call has an infinite banking insurance policy or specifically designed and a properly designed insurance comp uh contract because you haven't lost a dollar in the last five or six weeks in these contracts i sleep great at night knowing my policies are growing every night justin i know you do as well um but this is unlimited income potential and a chance for true freedom now which one are you right now and which one do you want to be because look if i'm an orthopedic surgeon and i'm self-employed i'm not going to stop being an orthopedic surgeon but i sure want to be an investor and yeah show me an opportunity to be a business owner and i want to do that as well right the poor the people and what really it's the people working for their money reside on this side and the rich where their money is working for them they reside on the right side of the quadrant so we all want to be over here we all just want our money working for us and we don't have to go to work and work for our money and we get to do what we want to do when we when we want to do it and for the guys out there when i say guys by the way i mean men or women um that are in their 20s 30s 40s i mean are you're not retirement is not the goal right financial freedom is the goal and i don't think justin the young people that i'm working with these days they see that they know that's not the goal they know it's financial freedom okay so how can the average person take advantage of b and i on that side of the quadrant create personal wealth really rapidly without spending a fortune without the high risk of failure like you said on the on the investment side and have fun in the process well we really truly believe it's through infinite banking and to do infinite banking you really have to think now why do i say that i i actually we take that from our mentor nelson nash who would say it's all about how you think but then we found this quote that says five percent of the people think ten percent think they think justin and the other 85 would rather dive and think now i don't understand that honestly because i think that the only way to make this work is to is to think you're differently think differently from the herd and and break away kind of like that podcast break no i'm just kidding uh so let's kind of bring all this together okay now um for the guys out there that are doing infinite banking this might be um this might be remedial or or basic but just just bear with me because i'm gonna i'm gonna put a spin on this justin now we're going to go get a policy right from a mutual insurance company now the reason a mutual insurance company is because there's really two types of insurance company there's a stock company that's owned by shareholders and there's a mutual company who's on it which is owned by policyholders both of them are required y law to distribute the profits of the business to the owners so we want to be an owner right so we have this policy and we have cash value in it by the way that cash value is growing every day uninterrupted and that's what that blue line to the left is okay it's growing every day guaranteed justin just like the words you used which is what we're looking for guaranteed now because we own this insurance company our insurance policy gives us a contractual right to get an interest only loan from the insurance company okay their money remember our money our money stays in here and grows uninterrupted it never leaves and you want to act like your own banker right now justin 95 of licensed insurance people don't know this next thing when you take a loan your policy doesn't your money doesn't go anywhere they put a lien on your on your cash value and every dollar that they put a lien they give you one of their dollars sounds fair right so remember my money's in here growing every single day uninterrupted and by the way am i paying tax on that growth i'm not paying tax on the growth it's growing tax-free okay now i'm gonna take the insurance companies dollars and i'm gonna buy some real estate okay now this real estate now remember i'm still earning an income that i was earning to fund this insurance policy but this is going to earn some money so i'm going to assume that i don't need all of that money or any of it to live off of i'm going to flow it back to the insurance company which by the way it's an interest-only loan so i don't have to do that it's unstructured now let me ask you a question justin this is the way i look at that loan if i would loan you a hundred million dollars today and your only obligation was that you had to pay me five million dollars of interest in one year from today would you take the loan uh twice twice that's right yes all right so uh play along for a minute let's say that you made me that same deal okay and by the way i'm open to it as well if you're if you're offering is you're gonna loan me a hundred million bucks i'm gonna take it and i'm gonna go leverage the bank's money and i'm gonna go buy 500 million dollars worth of real estate okay now let's just assume that i can net after debt load everything else i'm going to net 5 on my real estate my 500 000 real estate after my debt load so i meet with you a year from today and by the way i'm gonna buy lunch okay and i'm gonna write you a check for five million dollars now i got 20 million that just went into my bank account right are we you know we're still good you're going to say hey do you want to pay down some of that uh principal and i said no i think i'm good right that's what you can do the same thing that you're going to be doing with the insurance contract because what's going to happen is this money's going to flow back to the insurance company it's going to reduce your lien increase your net cash value that you have available so what are you going to do justin you're going to do it again right yeah yeah i'm gonna take another loan i'm gonna buy some more real estate i'm gonna buy maybe a business i'm gonna buy whatever it is now normally when somebody shows you infinite banking and this is really uh great and important and valuable is they show you how to pay for your cars or your vacations or you know uh major purchases and that's all great i use my infinite banking system for that too but what i want to talk about is as we start to get this money flowing back this money gets all these different assets flow back flow back flow back we get all this cash flow if i'm going out and buying assets justin do i want that money to flow back to my bank my bank or somebody else's bank my bank because what's the bank absolutely that's right so what would the commercial bank do with that money when they got it back they'd loan it out again that's right they put it in motion and they create velocity of money right excuse me so as this money goes back and this whole thing goes faster and faster and faster this little play we make more money and more money and more money now what's going to happen justin is this policy is going to get full of cash and it's not going to it's not going to hold anymore and i'm going to have to go out and i'm going to have to get more policies and more policies and more policies and nelson at one time had 49 policies is the number that i remember him telling me in 49 policies and and i got up and think tank this uh this february and i asked and there was there were people in the room that had over 40 or 50 policies at least a couple right a lot of people that had over five or ten policies now this isn't because your advisor wants to sell you more life insurance but think about this if i'm using this for a business like real estate okay which is a great place to put your money this interest justin i know you can't give tax advice but uh that's that's probably going to be deductible right and good chance it's a good chance and if if your cpa says it's not deductible then give us a call we'll find you another cpa no i'm just kidding um but this is if it's a if you know you're borrowing the insurance company's money okay now so the money that you're paying is deductible and the money you're earning is tax-free how many things in your life justin do you have like that yeah and it goes back jim to understanding what the problem was so you could recognize the solution having the right storehouse having the right tool and then using that to build assets not leaving it stagnant absolutely and you know like you said a lot of business owners business owners don't want to buy instruments they want to buy assets they understand assets they understand that their business etc so now justin normally i would have to choose one of these two sides of this ledger if this was my savings account like you said earlier i'd have to decide do i want my savings account or do i want this real estate and i have to part with my money or my 401k or my ira i mean forget about whether i have to pay penalties and everything else but if i have an opportunity i have to decide i want this or i want to keep the money in the account that it's in justin with infinite banking we get both we get both sides of the ledger our money grows in a tax sheltered policy right growing tax-free potentially taking all that money out tax-free right and i get all these assets i get both now where else can i do that okay so um does that make sense just anything to add there yeah no i here's one thing that i that i definitely want to add jim i'm really bad when i read a book that i want to skip to the end and see that last chapter and there's been a lot of build up but i want i want everybody out there to really pay attention because what we're talking about here is looking for opportunities as we come out of this crisis what we've been laying the stage for is to how to get you in position to take full advantage of those opportunities and so so the next thing we're going to look at is how does this work for me jim showed you how to build assets and i showed you how to have the right tool to allow you to leverage so you can build assets and create wealth and so now we're going to look at a couple of examples that is really going to show you where the rubber hits the road how you can take action and utilize your policies to create investments that are correlated or defined by the stock market and that's what's important absolutely so let's let's look at this now you know um this isn't our opinion we're just a lot of these things we're just using math i love the numbers that justin put out there on on that family that happens to be all of us as the united states right and it's just numbers it's not our opinion and we're not using some fancy software to try to show you something or convince you of something this is just math and so i'm just going to use a real estate calculator okay now this is this is just an example okay it's just meant for demonstration purposes and i'm i'm not going to put in here all the expenses this is a great little calculator and there's a lot of these on the internet that you can get for free but i'm not going to put the tax information and everything else in there because all that's going to be the same i'm just going to compare the ways that i could buy this property okay and by the way this is a great property you guys would all want to buy it okay it's 200 000 that's the value we're going to pay 200 000 and we're going to have 5 000 of closing costs so our total price purchase price 205. and it's a commercial piece of property and it's going to produce 2500 a month of cash flow all right so for our analysis we're going to look at 10 years and we're going to assume justin that this uh appreciates at three percent per year and so we got our here's our down payment we paid cash 205. here's our cash flow right our net cash flow and uh here's the future value which is also our net cash out and our here's our rate of return so if we could buy that property over the next 10 years our ror rate of return is going to be 16.12 but this isn't normally how people go out and buy properties i mean some people do okay but most people they leverage the bank's money and they go get a first mortgage now i'm going to assume that this is 80 percent loan to value okay and it's not a mortgage it's a commercial loan so it's for 20 years not 30. and i'm gonna assume it's five percent fixed here's my payment okay so shows my mortgage payment up here i'm still looking at the 10 years still 3 but i got 45 grand in it now and my net monthly cash flow goes down from 2500 to 1444 future value is the same but i still owe almost 100 grand on it so my cash out is only 170. but look what happened to my ror now why well because i have less money in it i'm leveraging the bank's money right okay so then um you know justin for you and me and we've done this a bunch of times we're going to use the insurance company's money as well so the way to use that on this calculator is just to add a second mortgage here's 40 grand for the down payment now nelson taught us to be honest bankers to pay ourselves back what the bank would require us to pay so we're going to do the same five percent 240 months here's my payment 264 per month so all i do is i is i add that to my mortgage payments and my still i'm looking at 10 years still i'm looking at three percent but now my monthly cash flow went down to eleven hundred and eighty dollars and my loan is higher than it was it was at a hundred a little bit under a hundred now i'm almost 125. so my net cash out it went down to 145. but i only have 5 000 in this justin and so my ror went to 370 percent that's the power of leveraging the insurance companies money now justin could i have borrowed that five thousand dollars if i had it in cash value in my policy yeah it could have been 45 instead of 40. then what would my rate of return be well since you had no money in it it would basically be infinite that's right and so that's again one of the reasons that i love the infinite banking concept is because this is infinite my return is infinite so think about this for a second my policy grew too didn't it now this is my policy my personal policy and it's it's a seasoned policy it's been fully capitalized it's growing okay from the first year i had forty thousand dollars in there that i use for the property it grew at a five percent growth rate for ten years so i had at the end of that sixty five thousand eight hundred and eighty dollars okay so i got both i got i got the two hundred thousand dollars and i got i mean i got the property right here's my bank loan here's my insurance loan which was interest only okay so i had no money in it other than all i did was pay the interest on the 40 000 and that's going to be paid from cash flow right so i have no cash in i cashed out 145. my rate of return is infinite i grew my policy grew to 65 000 so my total is 211 0308 you get both so justin you wanted to talk about uh any questions on that justin no jim i i think that is just a that's a phenomenal example because what you're showing here again you go back to your chart you're showing how you can move from once one quadrant to the other however you can take your saving and put it in the right vehicle the right storehouse just like we talked about for the book of genesis and then create opportunity so you could have pulled it all out and bought one house but here's what jim is talking about now if you want to truly create wealth and have a plan you now have a strategy in a way to take savings dollars without giving up the safety without giving up the interest you would earn on it without paying any taxes on it and leverage that into multiple assets and again these could be liabilities that you're paying down if that's something you want to do have that money flowing back to you and your system instead of another bank this could be businesses we have clients that use it by businesses jim's got a great example where he's done that through his policy being able to access cash quickly allowed him to be able to uh invest in a business uh that that returned cash flow to him and then i've got an example jim that i thought was was pretty simple um if we could let's go to the next slide just for a second so uh i had a client that uh had built up a good a good amount of cash value in his policy structure the right way and he came to me and he's in a service business he said justin i'm not really interested in real estate it's not something i want to do uh i'm trying to pay off debt uh-oh the slide's getting really big here we go all um i don't know but i guess it's time for the big the big finish huh all right you do you guys can see this here's what happened yeah what's that you tell them what happened and then i'll go to the slide so we can all see it before it gets too big so what we got to is his business uh leased space uh it was in downtown birmingham he was paying 5 000 a month in rent so i gave him that i said why don't you go to your landlord and tell them you're going to pay your entire year's rent up front cash up front and see what kind of discount he'll give you and so he negotiated and at first the landlord said well i'll give you a month and a half free which i think would have been a tremendous opportunity but i said keep keep pressing he ended up getting two months free if he would pay all of his rent up front so what he did is he got a policy from then i got a loan from the insurance company against his policy for fifty thousand dollars he wrote the landlord a check and then he had his business repay that to him just like it was doing before so the business didn't change cash flow whatsoever so they paid him 5 000 a month back to his his pocket and what you'll see is that was a 20 uh if you if you annualize that that's like getting a 20 rated return everybody follow me he paid he paid 50 000 to the landlord paid himself back 60 which was his normal rent and he kept the 20 in his pocket and so what that is is that is a way of getting creative now jim here's what i like to say did he pay any tax on the policy gains no did he take any risk whatsoever did he change the cash flow of his business whatsoever no in fact candidly i could argue with you that he lowered his risk because if they go through a health care crisis a coveted 19 who does he now owe the rent to to the landlord or to himself that's right so if cash flow is an issue he can say hey i'm going to take three months off until we come out of quarantine until my business revenue gets back up well and he's not gonna have to get permission from the landlord he's not gonna have to take a chance that they don't renew his lease he has total control and guys that's the thing that i want to i want to kind of end with before i toss it back to jim if there's one thing that you take away from today the most important i think characteristic that you want coming out of a crisis is controlled write that word down you want control you won't control your savings you want control of your money you want control of your situation the way you minimize risk is controlling it and what nelson taught us in this book and i'm gonna hold it up one more time for ev rybody to see if you haven't gotten this book you need to get with the person that invited you and they can get you a copy of that you need to read this you need to go through it you need to spend some time and ask questions i know we didn't make an expert out of you tonight but what i hope we did is give you a couple of ideas that you can research you can get on the phone with a gym on the phone with whoever invited you and you can ask some questions and get out of your comfort zone as john maxwell says and get to the creative zone let's get creative and how to protect our wealth and build our wealth jim last closing thoughts yeah i know you that those are great thoughts and i agree whoever controls the money makes the money and you know you think about that you mentioned that i've used this to buy i buy into start um uh 11 businesses and you know i think about right now all of the um employees jobs that we've saved in you know one of the businesses that we bought i think there was 58 jobs in in the company that owned it they were going to shut the business down and uh saving 58 jobs in a community and then this is a pretty small community in nebraska and you know that's it when you say you know how do you move to that right side of the of the quadrants and have fun i don't know about you but if you can save 58 jobs that's fun right that's being a service in your community and it's not just about how do i make the most money and i hope that i you know i hope that the market goes up and i hope that i don't make any mistakes and you know justin you say it and i say it hope's not a strategy it's not a very good one right and this is an is a way it's a participatory sport though because you got to study this you got to read books you got to you got to talk to your coach that's what now on an associates is is now on wealth management and and create tailwind that's what we're all about is coaching you and showing you how to do this and walking you through it step by step by step for you to take control of your financial future and get from the left side of the quadrants to the right side that's what i got justin yeah well i think uh guys we've been an hour we want to be a good steward of your time i want to thank you for joining us again i want to encourage you get with the person that invited you get your questions answered but more important than anything take action understand what the problem is understand there are solutions get creative and take action and if you do that you're going to be successful identifying these opportunities as you come out of the crisis welcome everybody guys have a good night jim thank you and really enjoyed being with you yeah thank you justin i really enjoyed it look forward to doing more of these and uh sharing more about infinite banking what we learned from nelson and uh everybody be safe and take care of your families and we on the other side of this there's going to be a lot of opportunities and and we're here to help you and show you how to take advantage of those opportunities and we've got lots of professionals in our network that can can help as well so just know uh stay strong hang in there and we'll all get through this have a good night