Private Banking Strategies Q&A with Seth & Vance

0:05
Happy Tuesday, everybody. And welcome to the the live stream with sap and dance. And today, they are going to share the seven pillars of private banking and how you can participate. I know this is going to be question and answer. Seth has been on a live stream with with Jay, many. Many times. There's lots of videos that are already posted there, but we thought this would be a great opportunity to bring Seth back and an advance to the mix to answer your guys' questions. So welcome to this live Stream and Seth are you there?
0:43
Thanks George. Yeah, happy Tuesday to you Vance. You there I'm here. Great for Baker.
0:49
Welcome, everybody.
0:51
Well, thanks, George for the introduction, and yeah, this is We're going to be following up on some prior Live streams that we've done perhaps Answering questions for folks out there who already are in the process and have policies in place or folks who are contemplating that and we're going to discuss a couple different strategies that we're recommending right now is we're anticipating all-time highs coming and the exit of crypto and liquidation of profits and and making some strategies to do that. But, just wanted to remind everybody of the, the 30,000 foot overview, which are the seven pillars of private banking strategies. And you can see that on your screen.
1:41
The first, an initial one has asset protection, and second tax free growth, We structure systems that are financially private, and that allow for you to get multiple touches on the same dollar.
1:56
And, if you've got questions on velocity of money, you can post the question, lot of times, people go, How do I get multiple touches on the same dollar? And we can explain that, if you haven't heard that concept before. And fifth pillar, private banking strategies, is a guaranteed compounding tax for growth. There's no market risk on like stocks, equities, or other types of investment.
2:23
This is only going to increase, then you've always got guaranteed teed financing with through your own private bank. You can finance your own acquisitions to the level that chief capitalize your bank. And then when you've used all the money that you can and created a legacy succession plan, all of the value in your private bank transfers tax free to your heirs your beneficiaries. So that's the 30,000 foot overview that you want to add some comment.
2:55
Well, yeah, I think all of us are online to find out how we can be better financially and be more independent.
3:03
And try to get outside the status quo, or, you know, the government bureaucracy.
3:11
This is our chance, and we have a great opportunity here in front of us with the crypto understanding and creating can play together for more we'd all right now into a much more safe, private situation.
3:32
That's what we're all about, so I think this is a very timely podcast.
3:37
So I hope you guys will be forthcoming with the questions that you might have.
3:42
It's very important because many, many people who are planning on taking a profit, if they don't do it correctly, we'll end up watching it. Go up and watching it.
3:52
Go back down, so.
3:56
And just to expound on that, I think Jay talks about this, George, Pretty often. it's the psychology of the train, and having a plan in place that you, that you're able to follow, with discipline.
4:12
And a lot of times, I mean, I've been no subject to this as well. Like you're looking at price action on something, and you've got emotions that are pressing you to take a certain action. But it may not have been well thought through.
4:29
And then you may look at that action in hindsight a year to three years later, and go, wow, if I would have just turned left instead of right, and anybody who's been in the crypto world from, you know, 2017, or before, and, and written through these past cycles, you can probably say the same thing. When would you agree, George? Oh, yeah, And, you know, I was gonna say one thing that: I think the biggest mistake that people make on some things is thinking like, Oh, when this happens, then I'll figure it out. Instead of, just like you were saying, You know, to have a plan in place so that, when something happens, you know what your next step is going to be and you're not rushing in. Because, you know, let's be honest, someone could not open this and fund it in seven days. It's It's a process.
5:27
And so you need to take the time and educate yourself now and get ready for that and have everything in place. So that when your windfall comes to you, you have a place to put it instead of trying to figure out after the fact. Like, oh my gosh, it came much faster. What am I going to do now? I don't have things in place.
5:50
And people kinda get a little panicky, because they, they don't have, there, their next step, ready to move into.
6:00
So, in short, let me say that now, the third time, a little bit different.
6:07
The code. George, hit this. Right, on the head, you, it's perfect.
6:12
Oh, In the trading business and the management business, we call that the finish line.
6:18
What you have to have well identified, if you're going to be successful, is what is the target, the finish line, and you're prepared to execute that either, I call a mechanical, exits or buy in whichever we're doing.
6:39
And it automatically happens if you try to do it emotionally.
6:45
We're going to lose, oh, because we can't physically, mentally handle that stress up and down.
6:54
I found, over the years, the people who are successful still can play.
6:59
Everybody wants to play, but the complaint for the successful is, I got out too early.
7:08
Hello?
7:09
Complaint, for those who are unsuccessful was, I got out too late.
7:15
No, I didn't hit the point. So identifying in all situations, not only in business, but in, in the crypto in other investments. What is the finish line? What are you happy with? What is your guru slash J telling you in each of these?
7:35
What is my benchmark, and you said, and get out.
7:40
So, we've just showed that three different ways now, and, you know, and I'm going to restart it again.
7:45
It's if you don't have things in place, then you can't act on them, but if you have things in place, and you decide not to act on them, well, that's completely different, because you have that option.
7:59
But it's, it's making those options available to you, and it's people needing to act prior to set those things up, so they at least have that option. And they have the option to move forward, or not to, but at least that option is present, and you have to act before you really need it, to have that set in place.
8:19
OK, great.
8:21
And part of the part of the option that we're talking about, we we call the safe plan and we also have a windfall plan if you are waiting for the windfall of crypto liquidation or perhaps to sell a business or we've had clients in the past year that have had inheritances, large inheritances. I've had clients that sold businesses for multi-million dollar liquidation events. We've seen all sorts of different what we would call windfall events.
8:55
And those folks have structured plans and structured roadmap to be able to place their windfall into a vault so that it isn't spent on something on an emotional decision.
9:11
It isn't sitting out there, open and unprotected.
9:15
It's growing tax free, it's financially private, and they still have the liquidity of that money to put it to use if they so choose to invest.
9:25
And another opportunity or to hedge against inflation with precious metals, or to do any number of different types of strategies. And that's why it's called the infinite.
9:39
Banking is because the the permutations of how you can use your money and put it to multiple uses is is really limited only by your creativity.
9:51
So, back to the Safe plan and the Windfall plan, the safe plan, many of you have probably heard this, some of you may have not, so it bears repetition.
10:00
The safe plan is one whereby you have a policy that you can afford now, Rather, it's very small or whatever your particular place and incapability is, you, you exercise that capability now and some folks have, it's just, you know, smallest, $10000 annual premiums.
10:24
And then, with that annual premium, they have something called the term, a convertible term policy.
10:31
And that convertible term is, is not the same structure as the whole life that, that we structure, it has no cash value, and it's for a specific time period.
10:42
And what it does, though, is it keeps open an option for you to be able to convert the amount of term that you have into a whole policy, which then acts as a bank where you have liquidity and you achieve all the seven pillars. So, we've had numerous numerous clients that have exercised. That safe plan put in a small policy, also had their convertible terms in place.
11:08
And they're awaiting the sell of crypto, or whatever other windfall that they might particularly be anticipating For everyone on our call today, Crypto is a part of their asset portfolio. So we're certainly talking about crypto.
11:24
But we've also had, like, I said, super high net worth folks that have had inheritances and are liquidating crypto, and have sold the business. So, there's a multitude of variations, and rather, you're ultra wealthy. Or whether you're a blue collar guy that wants to protect what you've earned, you can utilize this.
11:48
There really is no, real minimum and always no praise, Vance, because his real heartbeat is to help, uh, help people, you know, take back the banking equation in their life. Put their funds in a vault that they can use, and transfer generation after generation that changes their life and their family's life, and he, you know, some of his favorite stories are the are the blue collar workers 1 of 1 of our success stories Is A, is a mom in Texas who grew her real estate portfolio through private banking and and started with a very, very minimal plan, Vance, if you want to tell that story. Just to give color and context of folks, you've got a better beat on it.
12:37
You only had spare money annually of $5000, and she put $5000 into a policy.
12:47
This is back in 2011.
12:51
Today, with her leveraging the cash value from those little policy, she now owns three policies, but she has over one million dollars paid for in real estate rental property.
13:07
And she did exactly what we suggested. She followed the eight year plan.
13:13
So, we're told that I want to just make one.
13:19
follow-up on self had just said there's a safe strategy and there are the windfall strategies.
13:28
Banking, I'm putting the banking equation.
13:31
I don't know what a lot of people think, but we all have ideas about banking, and this literally is putting the banking equation in your family economy. How do you run the bank? How do you set it up? How do you work at? how do you move forward? How do you set it up so you don't make mistakes?
13:51
Well, everybody's going to make a few mistakes, but if it's controlled normal badly, they're easily fixable.
13:56
This is why, when self said We have a safe strategy, but we start small, because we've got to figure this out, We've got to know how to run it, show that we can absorb a windfall.
14:10
If we wait for the windfall, now we've got to make decisions, you know, sometimes lasting decisions and we're just starting out, and we see this time and time again with people who don't spend a lot of money.
14:28
Don't quite know how to figure out the banking side or won't learn.
14:33
old practice.
14:35
Then when it comes time for the second year, premia, they're kind of little loss of what to do and how to do it.
14:42
So, being well organized, starting where you're comfortable, but starting is very, very critical and very important in this whole process. And, let me juxtapose that with the an ultra wealthy person of which many, we, we serve those type of folks as well. Like J, for example. J has routinely said on air that he, he wanted to push 20% of profits into private banking.
15:17
And so, we're talking about eight figures, tens of millions and you have to have an accomplished well design strategy to be able to do that Js, not trying to you know, scrap together.
15:34
Whatever he can to start the banking and began to create velocity of money.
15:40
He's looking for a different pillar of asset protection, and tax free growth, financial privacy, and this, the safe haven there.
15:51
So, it's for the folks who are on the other end of the spectrum and very wealthy for you to be able to, to push a maximum value of money into your vault.
16:04
You, you will be only be able to do that at the first instance, and there's some proprietary structures that the advance uses too, submit applications to the life insurance companies that we use and simultaneously close on those and maximize your ability to get a maximum amount of cash into your bank. But if you did that in successive linear fashion, for Example, one application then, another application. It won't work because every person is only insurable to a certain value and amount and that is directly related to how wealthy you are.
16:51
So the more wealthy you are, the more life insurance you can purchase.
16:55
And so, for those who are multi-millionaires, but want to get, you know, more than they are insurable into their their bank vault, they have to do it in a specialized simultaneous close.
17:09
Right? And took all of that just a little bit.
17:13
People qualify based on income.
17:18
I mean, law assets.
17:21
Sometimes we'll make mistake. Well, I've got $5 million worth of real estate assets, all paid for insurance.
17:27
Companies could care less about that, They want to know cash flow inflow, you know. Well, what are you working on? How much is your, your monthly income, but we can multiply your high-end offers.
17:39
So if you qualify for X, we get several of those offers.
17:44
This is what Seth was just saying, we can execute all of those simultaneously, really magnify that high on the side.
17:56
Excellent. Advance, that's interesting, because I did not know if they looked at your income. So, if, after this crypto run and I decided to do nothing and just live off all my profits where I'm not necessarily getting, you know, dividends, that type of thing.
18:14
I'm not going to be able to qualify as much as if I am taking a salary right now And I am showing income.
18:22
So, OK. Well, that's how the protein out.
18:26
That's a perfect question, so let's take a high level look at that.
18:31
It's absolutely critical that we understand what they're looking for and how we can present it to be palatable, OK, so many, many cases, with just, maybe, people listening right now, and we've got them qualified, based on potential earnings of crypto.
18:54
We use earnings from investments as ordinary income.
19:00
So, all them, all up, is to know they want a reason, they want something, to where they can justify and give you a qualification.
19:09
So we'll work that out on an individual basis For instance, George, with you, if that's the case, if everything's based on that, then we saw that up.
19:20
The Spendable cache is actually going to be in calm and we present that to all and, You know, and get that qualification through.
19:31
Yeah, and so, it's not that I need to turnover my My tax. Oh, You're doing stuff let You do that. They don't need to see, and I don't want I Don't want them to know much about me at all. Well, they don't need that.
19:47
They just need it all through your application On You know, what? you put down.
19:54
Oh, They're gonna do what's called a background check, Make sure you're not a criminal, you know, and they just want to verify some of the things that you put down, I'll say fine shell thing.
20:06
That's in opposition if somebody said, Boy, I've never taken drugs, and all of a sudden they find, Hey, this guy's taking some marijuana or something.
20:16
You know?
20:17
Now they're going to back up a little bit, so, you know, we just have to discuss that when we do the applications and let our expertise decide kind of what actually goes down all those ups, although that's palatable, again, it's it has to be accepted to the underwriters the correct way.
20:37
That's all we need, OK. That's good to know.
20:41
And, and along that line, if the policies are of mid range value, let us say $100,000 a year premium.
20:53
And we're not disclosing tax returns, or even higher than that, you're able to, you're able to make a plan where you can get the total sum that you want to get in over a certain year period. Let's call it five years.
21:09
And with multiple policies, in effect, You know, let's say you had five insurance policies first year, all at 100,000, and so you're putting in $500,000 a year. But it's spread across five different insurance companies.
21:25
You, the financial vetting of the insurance company for $100,000 policy, is much different than a policy for five million annual premiums, very different.
21:38
Hits the re-insurance market when it gets over five million And but you're still able to cumulatively, over time get the same amount of money that you might get in all at with one stroke.
21:52
And then we also have something that we've talked about before, some of the folks may be aware of it. In the heard about, it's called the Premium Deposit account.
22:02
And the Premium Deposit account is one that's not, it's an account, financial account that's not in a centralized bank and not subject to all of the dodd frank Act regulations.
22:15
And disclosures, it's not subject to typical disclosure that banks make to the federal government. It's within the insurance companies custody, But it's as if it, and it's in the vault, so to speak, asset protected, and it's marked for your premium deposits. It's not as liquid. You can't take it in and out, in and out.
22:38
You can take it back out, but you can't keep putting it back in and taking it back out. But the point of what I'm saying is, if you have a windfall multiple million dollars windfall, and you want to be able to bank it and not have it subject to being spent or taken or identified. You would put it in a premium deposit account. With each of those preferred companies, and you would be pushing your premiums in every year, and the premiums that you're pushing, and they do have cash value, and those are completely liquid. Vance, would you add anything to that, the Premium Deposit account?
23:12
No, other than each company is different. And those for those roles are stipulations, are ever changing. So I always leave one out today.
23:22
Tomorrow we might be like because premium deposit accounts is just A on convenience that insurance companies offer to help move money and get it off the table into their vaults, into their accounts, so that it can then can be put in permanent.
23:45
And so you get an interest rate off of them, pretty much every one of them, or liquid, so that if an emergency comes up, the remaining amount in the premium deposit account can be taken back out.
23:59
The stipulation is you can't put it back, and you have to take the whole thing, because they don't want to track it in and out, just like such.
24:09
So it's, it's, a, it's a function of what, I like to call the vault and slash! So it's, it's you're locking it up in your in your vault. And it's not on the typical radar that centralized banks have and no one raises their hand and tells the IRS or taxing agency that that that transaction has occurred. And you've got a financially private means of accomplishing that. Well, look, let's tell everyone why.
24:44
Jay, life insurance carriers these that we're talking about help what's known as a grandfather.
24:53
They were in existence. Before Country was conquered by the Federal Reserve Bank in 1900.
25:00
They carry a grandfathering clause, that they're not affected, as our normal accounts are sold, their bank accounts, their cash reserves and everything are protected for on bail ends and bail out there.
25:18
We don't have to worry about FDIC insurance because insurance carriers have to be 100% cash reserved, the heft they kept for actual lives or anything like that.
25:32
So, um, No, I'm sure we're going to have several questions.
25:38
All knows sides, but I just wanted to make sure we had a good understanding of why these insurance carriers get preferential treatment.
25:51
They were around way before the IRS was around.
25:54
So they get that great look.
25:57
And that's it. That's a great segue, George.
26:00
You had private message me with a video that called into question, the vaccination and the mortality rates that were skyrocketing as a direct result of the vaccinations. If you remember that, of course, you do.
26:22
And, so, we took a look at that and, and process that together in advance, and I had talked about that.
26:30
Even before you sent me that, you know, insurance companies with there, statistics and actuarial studies, and probabilities, they did, they really don't get it wrong.
26:44
I mean, when they pay out, there are death benefits.
26:49
There, there are certain, no stable, proven statistics that, that they rely on, and so when the vaccination came into play, there was one particular CEO of a company, who came out, and it kinda went viral.
27:08
And he said, You know, mortality rates have absolutely spiked beyond any coincidence according to the vaccination and, and I thought, wow! That was really bold. And a lot of us already knew that.
27:25
And, yeah.
27:27
But what he called it was, was, you know, they would have They have a planned 10 year type of event where there's a spike in mortality rates because of some type of plague or sicknesses. And he said, these rates were such that it was beyond something they would see in 200 years. In fact, it wasn't even.
27:50
It was, there's no way, it could be coincidence as well.
27:53
Yeah, if something like 10 times which then trying to figure out how to integrate that into their business model. I mean, 10 times something, You, how do you, how do you work with that because it is so abnormal? Is it going to become the norm also?
28:13
Yeah, and that's, it.
28:14
This is the advanced we've talked about this and what we, I think, correctly, Surmised, is that the life insurance companies, They're not going to just eat it on mortality rates.
28:26
They're going to began in their application process, too, inquire and dig into whether you had the vaccination.
28:36
And they'll begin to exclude those who've had the vaccination from being able to obtain insurance with with them. that way they don't have to pay out a death benefit.
28:48
one and the other one thing I'm gonna throw in an advanced, I'll let you continue is one thing that I noticed, and this was not, you know, death benefit. This was insurance on my house, and about three months ago, and I brought it up in the live stream, I got my bill, and I was like, wait, there's something wrong with this, because it's 40% more.
29:09
So I called them, and, you know, I had to talk with them. I'm like, why is this possibly 40% more?
29:16
And, you know, when he gave some excuses, like, Oh, it's based on your credit score. It's based on, you know, your house rebuild. Well, my house rebuild is probably 10%.
29:26
Maybe 15% more, And then we kinda got into some truth, which was, well, inflation, and it seems like they are now.
29:36
My policy is up 40%. Someone mentioned in the live stream, and an answer. Question answer. They had the same company that I did, and there was up 40% so inflation, their front running, I believe, in homeowner's insurance and I'm sure that they're doing inflation. They're going to front run that in life insurance policies, too.
30:03
Absolutely. I think, what we've brought up here is critical. We know the, the vaccine has destroyed the immune systems.
30:13
In other people who took those and they're going to be more susceptible so the insurance companies have ways.
30:21
Oh, countering what's going on.
30:24
And they will raise premiums to the cost of insurance can and will get higher, Which does not affect banking at all.
30:34
Number one rule, let's clarify this folks as well.
30:38
When we put together and construct the perfect private banking contract, we're not out to death benefit.
30:47
Don't care what it costs because we want the absolute minimum possible.
30:53
When we get that, everything works out exactly the same. So as far as we go, we may have to have different contracts, they may change guaranteed interest rates a little bit, or low values, we will deal with that.
31:08
But we still can construct contract, and George it wasn't 200% that was over 1000% mortality factor over 200 year period of time.
31:23
You know, it just went right off the Richter scale, so, um, but it was on no, a few people don't know, percentage point wasn't, you know, the majority of the insured people.
31:39
That was all very small about government, the politics of proportion.
31:46
That's a fact in their favor, and they can adjust for going forward.
31:53
Won't be able to do the things they need.
31:58
And that's why the solvency of the insurance companies we don't believe are at risk that they will make the adjustments necessary to protect themselves from excessive death benefit payouts like through exclusion. And the ones who have, you know that.
32:20
have already been paid like van set are statistically minute in comparison to the whole. So, they'll make the adjustments to protect their their solvency and like advanced mentioned, embarrass repetition. They they can't fractionalized or do any type of derivative banking. Their cash reserves are 1 to 1.
32:44
So, they are much, much, more completely healthy than any bank on Earth. Which, I mean, banks can fractionalized at a 10% ratio, if they're not even a well capitalized, large bank.
33:01
And some of those numbers us have seen and reported to be in the low single digits for fractionalized.
33:08
Meaning, you bring, you know, a dollar on and they can create 99 more and loan 100 out in, know, and then thereby making cash flow and interest rate on $100. when they only had $100 come into their hand. Think probably everybody understands that concept by now, because we've talked about it, ... talked about it, and our audience is pretty savvy.
33:34
What? That causes is inflation, I know.
33:37
We've got a couple of questions on inflation, Can the policy keep up with inflation? The answer to that question is no.
33:46
But banking you can't, You can't.
33:49
What this is going to allow you to do is run your own scenario when you live out money.
33:56
Do you want your earnings?
33:58
Higher role, do you want your earnings to stay pace with inflation or be below inflation, That's totally under your control.
34:06
Um, when inflation gets out of hand and interest rates go up as far as borrowing money, you know, the policies will stay patient with that but you control your economic, no private world.
34:22
And you decide whether you're gonna stay faithful to purchasing power not through the strategy that you employ.
34:32
So, you know, we get that opportunity, the best place to bank, both your drought.
34:39
Self is said, Park, our money is with these charge carriers, and so on.
34:46
Then what we do with it, how we put it to work, is dependent.
34:50
We decide the risk, and we decide the reward.
34:55
Inside your personal economy, guys, there's no taxable event.
35:00
When you move money from one of your accounts to another account, does that generate a taxable event?
35:06
No.
35:08
OK, well, I've done the money to my brother patient. Is that a taxable event?
35:16
No.
35:17
These partial economies, although banking world's worst nightmare because they can't control that.
35:27
What they don't want, your notes, will pick up our educations.
35:31
So I hope this is helping.
35:36
And I think we're getting, oh, true most of the questions that we're seeing here as well.
35:43
So we've talked a little bit about inflation.
35:46
We've talked about the velocity of money within your banking, being a necessary tool that you implement to keep up with inflation, or hedge the very least. But like Vance said, the, you know, the strategies are really only limited to what you can conceive and come up with. But the more touches you get on the same dollar, the larger the internal rate of return becomes, and that's how you keep up with the inflationary effect.
36:18
Now we've got a question with regards to loaning, redeploying loans on your policies after your roadmap is finished. Yes, And I think, I understand the question.
36:32
But, you're going to be continually making loan transactions from your private bank, too, acquire and finance the things that you need and use, or for investment.
36:47
So, whether it's cars, houses, investment, properties, new businesses, you're going to be continually redeploying the cash value. Because if you've got multiple streams of income coming into your private bank from the loans that you've made, your cash value is constantly increasing, and you can re-use that cash value in a new loan.
37:13
So, there's a complete cycle of redeploying the money that you have within your private bank and that's exactly what centralized banks do. And we often say think like a banker because the money that they have in their possession sitting there is not going to the highest and best use. The highest and best use is to make a good loan and have cash flow and an interest rate working for them.
37:41
Yeah, remember one of the main roles money.
37:46
Money has absolutely no value unless it's working.
37:51
So, banks don't let money sit overnight in their roles.
37:55
It's called overnight lending, two o'clock.
37:58
Every single day Lucia had two hours all the way around the world and back yeah.
38:03
So, remember the banks also always get the money back so they can use it over and over and over again.
38:10
So, I hope this really helped answer that question.
38:12
You are lending money, putting it to work, getting a high return tax free and those payments are coming back into the use over and over and over again.
38:26
Yeah, and we've got a question about, basically, I mean, it's taking money out. It looks like in a retirement type scenario, where someone, let's say, wanted to take 10000 out a month.
38:39
And this is something that we've covered in a two part podcast, it's a lot deeper and has some other resources, and you can find that on our website, private banking strategies dot com. Episode eight in episode nine.
38:56
No, I'm sorry, we're talking about the Twin Sisters.
39:00
And many of you may have heard that, but our website, private banking strategies dot com, has all the podcast on there. And there are twin sisters.
39:11
It's episode 10 and 11 where we describe what the retirement type structure would look like.
39:19
How they capitalize there, policies and what they can accomplish, It's under the private banking resources.
39:28
And then podcast and then episode's, 10 and 11, Twin Sisters, part 1 and 2 will kind of help you see what the total potential is for you to be able to take money out in the retirement type capacity. And there are strategies whether you're, you know, 30 years old, which probably is statistically less of a slice of our clients As opposed to 50 and 60, but I'll give you a spoiler alert. There's two Twin sisters one, which used private banking and one which used a CD to bank.
40:10
Cash and to purchase automobiles. That was the original intent. They were both going to purchase automobiles they were going to use.
40:18
one was going to use the IBC strategy, they were Nelson Nash's, nephews.
40:24
And at the end of the road, one sister runs out of money in five years. And one has $50,000 a year for the rest of her life. And this is, this is a kind of an example that's 30, 40 years old, but it's one that comes straight from Nelson Nash and his own family.
40:43
And the sister who used the private banking, was the one who came out far far ahead. So, take a look at those, and that will help to kinda connect some dots as to what you can take out, what you need to capitalize.
40:58
And then also, you can, you can always schedule an exploratory call with Vance, and he can walk you through, um, more of how that might apply to your situation.
41:10
Yeah, I'll chef sets, subsets of the podcast and people, can we listen to this? I want to do another practicality on this question.
41:17
Can I, you know, shut it up to pull money out? Remember, you're shutting up and running a bank.
41:24
Can you put money in a checking account and do the same thing? Yes or no. So, on one hand, or showing you how these contracts can provide tax friggin calm over a lifetime.
41:37
But we're talking, you know, several years, if we're backed up and I'm ready to retire and take income right now, we have to look at that a little bit different way. It can be done. Yes. Can it be done from the policy itself, you know, within just a few years' time?
41:56
Maybe not. Maybe there's a more efficient way to do that. We have to get out.
42:01
Remember, there are three roles that we cannot break in order to be financially successful.
42:11
Once called the 10% Rule, the other one is called, Never, Ever, Ever Spend Principal, And the third is called, Working from a well designed thought out financial plan, that covers your current circumstances, a white male, today, people, and also, I want to write a book on, it takes conscious decisions for people who fell in America financially.
42:37
Because all three of those choices, everybody knows about them.
42:42
They've actually chosen not to live by those rules of order where they can't be successful.
42:48
But the practicality, can I put money in and pull money out? Remember, we're looking at a bank here. This involves financial retirement questions. There's other vehicles to go along with you, but, you can't do without the bank.
43:04
In order to get the money back or overdue, but there are vehicles that will assure a guaranteed $10000 a month income for, you know, a specific amount of time, or throughout life.
43:18
And, we'll tell you how much you've got to put into that, in order to make the app.
43:25
Hey, do you want me to read through some of these questions, Seth, do you want to read through someone, we'll kind of knock some of these out.
43:30
Yeah, I'm gonna, I'm, I've kinda been picking them off in our content as we are, and that's exactly what I was going to do. We've got a great question about Bill, and I think that's the intent. And rather, insurance companies are regulated by what they say is FDIC, but that's not really the case. They're not regulated by the FDIC nor are they subject to the dodd frank Act.
43:54
They are completely outside of a bank belen situation.
44:02
Bank balance are for centralized banks.
44:06
And they are a product of the bail out in 2007 and 2008 where US.
44:15
Taxpayer dollars were used to bail out financial institutions that were supposedly too big to fail, and they used American taxpayer dollars to make private companies solvent. And so, it was kind of a rope a dope, because the client the country, went well, we don't want our tax dollars being paid for that.
44:38
And so our great politicians, as Sneakily, as they are, and just came up with the dodd frank Act, which says that it was four.
44:48
Our protection Consumer Protection Act is actually in the name of the dodd frank Act, which is almost laughable, because what it means is that when you deposit your money into a bank, a big box bank, Chase, Wells Fargo, Bank of America, anyone that that are subject to and regulated by the dodd frank Act, it makes your money, actually their money. And they give you an Iowa.
45:14
I owe you, which is your bank statement, every month. And you think your money is there. You think it's your money.
45:22
But in reality, it's the bank's money, and if they become insolvent, they will issue you, perhaps, stock in their company, which would be worthless, where they would provide pennies on the dollar. And it's already happened in other countries like Cyprus. You can Google it read about it. All of the European Union has Bank bellen laws. The US. Has the dodd frank Act, which is a bell on law. And insurance companies are not subject to that. And that's why we talk about asset protection and financial privacy because the insurance companies are you're not going to have your account fell down on from an insolvency issue.
46:06
I'll take that as well.
46:08
Yeah, and, and this is kind of a curve on, on it, on this.
46:13
I don't mean to throw this at you, but it's a question, is that, Let's see, No, I'm in a jurisdiction that is being let's say I'm a Russian, and I have an insurance policy in the US.
46:28
Um, the, the, um, the, the blocks that have put up really, aren't going to occur in this type of scenario, because it's not really banking.
46:41
It doesn't really matter where you reside, per se that there are not that we want to get around it, but that I really question when certain, um, acts by different countries come into play in like OK, if you're not in the right jurisdiction, now, we're going to see everything, if yours.
47:01
This kind of really isn't feasible like that it or is it do you know at all, it probably is not shelf wool, probably argue maybe.
47:14
In any specific case, it can be, but nobody knows where the money is. This is not money. I don't care if you're a foreign national or whatever else. It's not reportable to any entity.
47:27
It's not on someone's list.
47:32
Yeah, this is, that's part of the, the function of these policies is that it's, it's out, it's taking the banking equation back into your own private capacity.
47:44
And one of the things that, many, this is state regulated, so each state, state by state has their own law which regulates banking policy. So it depends on where you are domiciled, where you are a resident.
48:00
And we've had numerous clients change their residence from an unfavorable state to a favorable state.
48:08
And many of the favorable states happened to be in the south Florida, Texas, Oklahoma, just the southern states, below the mason Dixon Line. And that's a product of the Civil War era. Where there were carpetbaggers and the Southern states protected themselves against Carpetbagging by protecting their homesteads. And complete exemption from being taken from my creditors or by attack.
48:37
And these policies were likewise, totally exempted from, uh, from financial attack, and that's to, that was to protect their citizens will are still on the books.
48:48
So, if, if you want, you know, if you want to know about your state, e-mail us at info at private banking strategies dot com, and for private banking strategies dot com. And we can send you a, an asset protection law, state by state, that would address whatever state you live in, like, go down to Texas. For example, example, Vance and our Texans, and a lot of texting clients. And this is a great state to practice private banking, and you'll see there, it says Homestead Exemption unlimited. So you can put $50 million in your ranch home, misstate, totally exempt. And then you've got the cash value of your life insurance in the middle column, 100% exempt.
49:42
It's 100% bulletproof. And then the same thing with across the columns. Everything is protected in Texas. And if you'll notice in southern states, that it's typically a lot of the same.
49:57
So that's that's state by state to answer that question. George?
50:03
OK, that we jumped ahead one question, I want to go back. There was a question up here that somebody put in and said, My policy doesn't provide for a Premium Deposit account.
50:16
Can I set aside money?
50:20
You know, in order to make this happen, one of the things that you can do is if you need to set aside money.
50:26
If your brain is probably too small to begin work.
50:30
And we go with a company that does provide a Premium Deposit account, I'll allow you to do it that way. And, yes, there are other ways, for people.
50:42
I think we addressed this on an earlier podcast.
50:46
But if we have money that we want to put in, for the future premium payments to guarantee and make sure there are other vehicles that we can send the money to, will automatically make sure that that payment happens on the correct date, each and every year, until that money is used up and put into the contract.
51:13
All right, so Wardell to question, what?
51:18
What's the minimum.
51:22
Net worth you can recommend for a private banking strategy?
51:26
Um, I've never found a client yet.
51:32
No matter what financial condition circumstance they're in, that cannot start a safe strategy, they have to be able to live the rules.
51:43
Or if you've read Nelson nash's book, one of those five main principles is called Parkinson's Law.
51:52
Then in Parkinson's Law, he states out the qualifications, you have to be living on less than you're bringing home.
52:04
If that's not the case, he says, go on the back yard, dig a hole, jump in, and have the neighbors bare you, because you're going to be a slave to the system all the time.
52:14
So, we call that the 10% rule.
52:19
We, in order to change our current circumstance and be better off every single month, month in and month out, we have to pay ourselves 10% off the top, put it to work, even if it goes right back in.
52:36
And we have to finance some of our monthly expenses. Now, are monies working for us?
52:44
I'm going to return, instead of working for someone else.
52:47
So, that's gotta be the answer to that.
52:52
If you've stopped employment, because you're gonna get rich off a crypto, or off another investment.
53:00
that might not be the wisest thing to do.
53:03
Having an economy is absolutely critical. Let me ask your question. I think, this comes up a lot, but this will bring us back into perspective.
53:14
Do you know any townes out there have a retirement date?
53:21
They don't count. Don't retire, Money's still have to circulate, doesn't it?
53:28
It needs to go around and everything has to be a motion. What? Retirement date does this universe have on motion?
53:36
No, OK.
53:37
On this day, the Earth is going to quit spinning, It's just not going to help.
53:43
If it does, we're not going to robotics we're not going to be here.
53:46
But what I'm saying is motion and, you know, having money working always has to exist.
53:55
When we make the mistake of saying, I'm entitled to retire on a certain date, Constitution doesn't guarantee that, you know, your birth certificate, never guaranteed you're going to retire, and it's a social, holistic venture. You may have a lifestyle change, that's what I'd rather you call it, where you're financially independent.
54:18
But you don't retire your money from working, and you don't quit work without having money in hand.
54:29
No. two birds in the bush over there. That's going to be one, better than the one I've got in my hand. It never is.
54:37
So I hope that answers that one.
54:40
Yeah, that's a good segue just to drive home a point that we were making earlier. I mean, some, some folks in our audience giorgia think, are going to be coming into sums of money that they haven't ever experienced before.
54:54
And, yeah, governing that, stewarding that type of wealth is may present challenges. I mean, here's an interesting statistic that I looked up with regards to lottery winners. If you go through and look at the failed lives of lottery winners, and how they've blown their money.
55:19
Or had just catastrophic life events from the change that it brought in their life, Or let's take a look at professional athletes, that come perhaps from lower socioeconomic strata. and then begin to make 10, 15, $20 million a year. And I can think of one straight from the University of Texas.
55:43
Vince Xiang was the quarterback of the Texas longhorns they won the national championship beat the trojans in 2006. I was there's probably the greatest college football game ever.
55:55
Well, he is totally broke and bankrupt, and he, he was spending, I think it was like $50,000 a month at Cheesecake Factory.
56:09
Yeah, you know, just eating food, so And you're like, are you, are you kidding? And when you begin to cycle your money through your private bank, it helps you develop strategies where you get the money, your principal back.
56:26
You're able to bank that into a vault. And then, when you pull it out, it actually has a feel to it. It has, you have a transaction.
56:37
And there's a cost that you have to overcome through the velocity of money, and the opportunity that you're putting the money to work in, And it, by far exceeds the cost of utilizing your bank.
56:51
But those things help you get the money back, and practice safe policy, that Vance's describing.
57:01
And if, if the professional athletes came to us, and, and utilized these strategies, you wouldn't have a single one that was bankrupt, broke, or disgusted at the end of there, Life Life Change.
57:16
And so one of the nuggets of wisdom that I can offer folks on the call is to implement some, some safe structure, and make a roadmap, where you're not just going to blow money.
57:31
And we have a common client, George, which is going to obviously remain completely private and confidential.
57:39
But I'm amazed at our, at our clients use of funds that, that I would call a professional athlete type of spending, and his fantastic methodologies without creating real systems, and I sat as it may seem, I often council, have you need to make, you know, this is hair and tortas. You need to put some safe structures in place and get the money back.
58:09
And I hope and pray that he, he makes changes, but if you're able to, To value your money and you're valuing what you've been blessed with, you need to implement strategies that keep it, right?
58:26
Europe, South Well said most of us know Value family structure of one level or another and over the years over the last 40 years of practicing and helping people with Windfalls, one of the absolute Worst things that can happen because you give your kids an inheritance?
58:51
They take that money, and what is the statistic you didn't never come up with that? Now the actual percentage of ruin lives there, south, but those statistics.
59:01
Well, or 70% of the people who receive windfalls, end up worse off, then have they never gotten the windfall 70% because they think they know what they're going to do with the money and it's, Nelson says it so eloquently and adequately. That it's not so much what you don't know about money, that's going to hurt you.
59:24
It's what you think, you know about money.
59:25
That's incorrect, should go, they kill you, And so we think we're doing it right, but in fact, what we're doing with the banks work in society.
59:34
Banks love the lottery.
59:36
They love the people who make this money because they know they're going together.
59:42
They know that there's, these people are going to make choices.
59:47
So the, all that money goes back to the bank.
59:50
And $50 million, you and I could probably live on a couple of lifetimes, but for shovel these athletes, the money's gone in a heartbeat before they retire, you know, from, from competitive sport because they didn't understand the flow of money and wanted what purposes.
1:00:16
And we know of a of a gentleman who's a strategic private banker, and he has a niche with with professional athletes and coaches. And his motto is, Give me the money now, and I'll give it back to you when you need it. And he uses private banking.
1:00:37
That's how he does it.
1:00:38
He does, and he doesn't promise a penny of growth.
1:00:43
Not not 1% of growth, but the money won't be there when you need it and you none of his clients know.
1:00:53
I've ever talked but no doubt about this individual.
1:00:57
You know, it's just been absolute lifesaver for, because the money's there, it's not gone.
1:01:06
So, access to money is much more important than giving them the money access to money and paying it back.
1:01:16
Much more important than just giving young the money without an A, You know, liability or responsibility.
1:01:25
Absolutely.
1:01:28
We've got a lot of great, great questions, George. We're not going to be able to get get through all of them. I'd like to pose an option for folks that may have specialized questions, or they've, they've got policies with us, or they're in the process of submitting applications. They can schedule a call with advance, if they haven't already done that, through the exploratory call, on our website, or it's also in the e-mails in the nurturing campaigns.
1:01:57
And that's where the personal applications and strategies really get vetted out and advance, shows you those, how to do those things.
1:02:10
So, for the personalized questions that would be particular to just, you know, one person, that will be the the way that we handle handle that.
1:02:21
And, if no, anyone has just general Investigation itch, there's tons of resources on our on our website, you can listen to numerous podcasts that we've produced on various topics that are, that are kind of there. And in the title. You can get a taste of it, or you can click through on the View source, and you can get a summary of what's in there, and what we'll be talking about. And those podcasts, it's just below the Play button, And you can see what the summary is, and you can listen to that on a multitude of different platforms, on the go. You can speed it up and get, you know, get through more content. We often have folks go, Man, I've listened to every podcast. They understand, they're educated, they're ready to rock and roll.
1:03:13
And that's, that's really the best way for us: To download and dump information data to our audience, and help them get you familiar with the strategies and plans. And not only podcast, but we do have e-mails that touch on certain topics, derived blog articles. We've got, you know, some things that you can search through there. If you've got a particular question and then ultimately schedule a call with fats, You go through an exploratory call where you look at your particular situation and if those things are all giving, you know, a solid plan. You structure an eight year plan. You submit applications, and you, you get this, get this.
1:03:59
Going, what would you add to that process? There's just, one of the things we've tried to do for people is get them to a point where they can test drive it.
1:04:10
Come in to test drive this and see the results with your own numbers. And you can make a decision right upfront, whether you want the strategy in your life at all.
1:04:19
And then, we go forward.
1:04:22
Know, a lot of our very rare occasions of have a very often the, hey, this strategy is not going to work for you, because a lot of people come in thinking, hey, I can't do this because I'm uninsurable this loud or the other policies. don't have to be on your wife.
1:04:37
I think it'll be on any one that you have an insurable interest on, but you get to take a look at it and see the results with your own numbers.
1:04:48
If you've done a little bit of background, you're ready to make a decision, like, employment, Hey, I'm going to accept that job.
1:04:57
You don't know what you're gonna do yet when you accept the job. We've got to take 2 or 3 weeks to learner responsibilities.
1:05:05
But here, if you go forward, once you've looked at it and you see how much improvement you're going to have in your life, then you can learn all about it.
1:05:15
Because you have to come up with your entry point. You have to decide what you're comfortable with and starting your saved plan.
1:05:24
You just need to execute, you know, at the right time when they all come in and you're up and running, and you better off from day one.
1:05:34
Yeah.
1:05:37
Excellent. George, do you do, I think we should probably start to kinda wind it down. Do you want to address any, anything else?
1:05:44
We were going over the hour, Mark, and I don't want to hold people much longer.
1:05:49
Yeah, well, what we'll do is, you know, I'll include the link to your web site. I'll dig through and get some of the prior podcasts because I know we do have a few new people I Know that you know.
1:06:03
people. have also heard about this, and they've said I'm not sure, and then they've decided, OK. Yeah, You know, it is something for me, in fact, like I know four of my regular?
1:06:15
People that I meet with on a on a weekly basis. You know, have policies through you guys.
1:06:21
So, you know, it is something that, you know, a lot of people are participating in and they took a look at it and I know 2 or three of them, that have had policies with you guys, for four years. And it's not just lately, so they've planned ahead and they're going to be ready for the windfall when they get it like we all have planned.
1:06:46
But yeah, I will, I'll get this out. I'll get links, and if, you know, people want to put feedback down below after this is posted, You know, we can always do another question and answer in a couple of weeks.
1:06:58
Does that sound good, guys? It sounds great.
1:07:03
You're very welcome. OK, everybody, well, thank you for joining us on this beautiful Tuesday. I'm outside and joined the Sun. Hopefully, it's anywhere you are in Texas, Seth and Vance. I'm not sure where you are, but. There you go, Tried and true. So I really appreciate everybody joining us and we'll see you again soon.
1:07:27
Awesome, thanks George. Knight Start, Bob!