Episode Transcript
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(00:01):
Hey guys, welcome to Wealth Wisdom
Financial YouTube channel podcast.
Wherever you're listening, it
is going to be a fun time. If you've
noticed, we're doing a little more
interviews and you know
we. Do a lot more in the summertime.
So we love doing interviews,
(00:21):
except, you know, some interviews are
aren't as fun as others. But this one is
going to be so much fun because we get
to, I get to interview
somebody who has been almost like a
grandfather to us. He is
actually a grandpa or a grandfather
to other biological.
(00:43):
People, but he is part of
our upline in our
agency. So if we ever talk about
him, we talk about Mark a lot, but
Grant is our
grandpa. So, so Grant Thompson, he
is a partner in Thompson and
Thurman in. The
(01:05):
great state of Texas and Amarillo,
TX. So he's going to bring his cowboy hat
on in a little bit. He is a proud
banking yourself professional. He's an
infinite banking practitioner. And the
reason I became an IBC practitioner was
because of him. He's a Chartered Life
underwriter and the American College of
(01:26):
Financial Services. He's also been doing
this a very long time, 30 years of
experience in financial services,
implementing comprehensive solutions for
clients all over the USA except for New
York. Grant practices what he
preaches, whether retirement, college
funding, passive income, becoming your
own source of financing, or if business
(01:48):
or generational wealth or and if
business and generational wealth is your
goal, he's going to help you. He is
here to show you success. He's
also married, been married a long time to
Kathy, has two sons, Blaine
and Blair, and I've seen
Blaine all the time. His daughter-in-law,
(02:09):
Brittany, is also in the business and
does college planning. And now they have
a new grandson, biological,
the Boydmeister. That's. I
guess his name. He enjoys probably his
nickname. He enjoys lake life,
fishing, hunting, golfing, and
(02:30):
he's going to do a helicopter ride
at some point and
do hog hunting through a helicopter.
That's what he said.
Just kidding. He's not going to do the
helicopter ride. But Grant, thanks for
joining us. I know that was a mouthful.
You've been doing this for quite a few
years, not as long as I've been alive,
(02:53):
but a while.
So Grant, take us in the the
way back machine to, I don't know,
1985. So is that
where we go?When did you get started in
this?Industry and what drew you into
this?Was it just to make dobs of money
and and all that?
(03:15):
That's that's what Wall Street's all
about, right. So why did you get into
this?Right, right, rightI
started in 91 is when I started the
industry and in the banking yourself
side, infinite banking, you know, I was
introduced that 2002, you know, Pamela
had introduced me to Nelson Nash and
that's when we kind of started all this
back then, but. Yeah, I got, I got into
(03:37):
the business. I guess you know I always
grew up self-employed. My family had
business, had a shoe business, sporting
goods business, grew up in,
grew up in that just in a little town
South here called Canyon, TX. You ever
heard of West Texas A&M, that's where
that's at. Paul Dura Canyon's a famous
spot out here. So come out this way,
that's kind of where you want to go ahead
(03:57):
and look at look around a little bit. But
that's I started then and I, you know, I
guess people ask me why I did this.
You know, I love being in my own
business, being my own lone boss type of
thing and and I, you know, I
love helping people. Of course, if we can
help people get what they want, that
helps us too. And so we can be here to
(04:19):
help them and serve them and and take
care of them. But I wanted that freedom I
guess I'd say is the big thing. I didn't
want to work for the man from early to
dusk and you know, and have to take off,
you know, one week a year on a vacation
and. I I want to be around for my family,
my kids. And so that's that's really the
big reason I joined. So,
(04:40):
so you, you know, were in
the financial world. What
drew you to this infinite
banking concept?
And was it banking yourself
first or infinite banking or or how did
that happen?Because there's a lot of.
Noise out there now. I mean, you know,
(05:01):
back in the day there was no TikTok or
YouTube or, you know, you actually had to
shake hands and meet people and go
fly in a plane to go to these things. So
take us. How did you end up finding this
concept and what drew you to this
specific concept?
Chills went up my spine when I read that
(05:22):
book. First of all, I didn't believe a
bit of it, but I was introduced to
Nelson, of course, and Nelson Nash and.
That's where it started. Infinite banking
and this little green cover book look
like it came fresh off a copy machine.
But Pamela had entered had that range for
him to speak. And anyway, I went through
all that and after I read it, I was like,
(05:43):
I was really actually mad at this point.
I'm like, is this true?I'd already
been in the business for a bit, you know,
this is back in 02 and so I've been in 91
and and so after I went through that I.
Me and Nelson got on the phone and we
were talking a lot and he was super kind
to sit there and spend all the time with
(06:03):
me and that's then we became friends and
and I call him a mentor cause he really
gave me lots of great advice, life advice
to business advice. But that's where I
learned about it and I thought this is I
was trying to prove it wrong. Actually I
was like there's no way you can do that
with life insurance cause I'd already
been in the business for a while. You
know I've been in the life insurance
business in the investment world and all
that. So you know I just it
(06:26):
had to be I had to. I'm one of those that
has to peel it apart and throw rocks at
it, punch holes in it and try to find
what's wrong with it without everybody
else in my ears. So that's where I burned
about this much paper comparing this to
that. And then and then at the end I was
like, Oh my goodness. And I just got to
thinking about my own store and I
thought, well, Grant, how much money have
(06:47):
you given away?Just go back to yourself.
Always put yourself in that position and
say, OK, how many vehicles have I
purchased?That I that I
financed and I went back to the very
first one up to that point and this is
back in 02 and I figured out if I just
started doing this the right way, I've
had at least 200, two 150 as close as I
(07:08):
can you know estimate around
200 grand sitting in a policy from just
my vehicle purchasing. If I just operated
this way, got in control of the banking
function as we all like to say. So
you know and then I it's just like. And
then I was with the company for 14 years
as a captive company in our industry and
(07:28):
very good company. But they
weren't ready to be on board with, you
know, bringing the product line that I
wanted. And I thought, there's no way I'm
not going to do this. And then, yeah, I
have a business partner, Chris, he was
same company. And I and I showed him
Nelson's book and actually he said, what
is that?I showed it to him. I was like,
don't read it, don't read it. He's just
(07:49):
going to mess with you. Well, anyway,
so we wanted to, we started going through
that and I thought, Oh my goodness. And
there's a longer story behind all that.
But it's that's what I did is I was
trying to prove that thing false is what
I was trying to do because I I probably
analyze things too much. I'm the guy. If
it sounds too good to be true, I want to
(08:09):
go check it out further and I'm going to
do it because I want to be the one that
sees that too. Because if I know it's too
good to be true, then I want to know it
is. I don't want just somebody telling me
it is. It's, you know, that's the noise,
right?Everybody said, well, you shouldn't
do this or you shouldn't do that. Well,
who's who's telling you this stuff?Yeah,
let's let's go find out what the truth is
(08:31):
and then you can make a decision about it
because, you know, it's just every tool
in the toolbox right there. You know,
hammer's a great tool, terrible for
taking nuts off bolts. But if you use the
hammer properly, drive nails and things
that hammers are for, then it's it's
fantastic. But use the right tools in the
right place. So that's where that I saw
(08:52):
this and I thought, good grief. I
mean this is sounds too good to be
true. Well and and
so you met Mel Nelson and I I
have the book here. I wanted to make sure
you guys saw it
because that's one of the books that I
never got the chance to to meet him.
(09:14):
But I loved watching documentaries. One
of the documentaries, Banking with Life
documentary. That's what got me
in starting my policy and meeting
your what do they call those protege?Is
that what they call it?The Mark Willis.
And because of meeting him, watching that
documentary, actually meeting
(09:36):
the person that created that
documentary. Why am I here?
James Netherly,
we were we. That whole thing changed
my life and one of the reasons I
fell into the banking yourself system.
But I did the infinite banking thing
(09:57):
because I wanted to go kind of upstream.
I wanted to see, you know, where did this
all come from?I never got to meet Nelson
face to face, but I had
seen. The fruits of his
labor, right. And so those were
things that I'm like, alright, how do I
best
(10:18):
learn even though he's kind of, I think
he was not, he had, he hadn't
officially left this earth yet, but
when we started, I think we started in
2018. Is 19 when he
passed away. OK, so it was very close to
when we became there.
Now I think I remember a story since we
(10:40):
started with we we were just kind of
joking off camera about
helicopter rides and and hog hunting. And
I think you didn't you do
something like that with with Nelson back
in the day. Yeah, he Nelson did
some local workshops for us and his, you
know, his workshops last like 8 hours.
(11:00):
And so he he came down and did
one for us and we had a great time and
you know, loved him being here. And of
course he's hanging out with me and we're
talking about whatever. But he said next
time I come, Grant, he said, why don't
you take me hog hunting?And I said,
OK, so anyway, my sons were
still, you can kind of see them back
here. That's the only place you don't see
(11:21):
me with the hat on. I'm not going to put
one on for you here, but that the.
Didn't bring it with me. So anyway, but
he wanted to go. So I said next time he
came we arranged it. And anyway,
got all canned up, camoed up and picked
him up early in the morning and took off
out there to go hog hunting with my two
sons. And but my wife warned him, she
(11:42):
goes, Nelson, you sure you want to go
hunting with Grant because he turns into
a different person out there. So. So
anyway, we took him out there, hooked him
up in the Polaris and took him through
Powder Canyon. Which is, you know,
there's big lots that canyon's huge,
which, you know, we weren't in the
official State Park. We're on a hunting
lease. I have. So I took him out there,
(12:02):
got a lot of life lessons out there with
Nelson. We talked about a lot of things.
We didn't get any pigs, but we got some
good pictures and had fun with my two
sons. And yeah, it's just great to have
him out there and get some life advice.
And the one I'll say real quick, don't
forget this one. It's back back to the
noise. We were talking about a radio
personality and I kind of got on my
(12:23):
little rant about it. He grabbed the leg,
you know, looking over the canyons down
there. And he said, Grant, he said
don't waste your pearls on pigs. So
anyway, he said don't get caught up with
it. It's a bunch of noise. He said guys
like that'll take you down the primrose
path to failure. That's how he said it.
So. So anyway, great advice, great
(12:45):
mentor. Just one of those people that you
just want to sit at his feet and listen.
I mean, I learned so many things.
I think that is kind of
a a heart of a true teacher, right?And I
think about that with not not
comparing them to Jesus, but
but that was something that you're like,
(13:06):
wow, he tells stories. And then you're
like, wow, oh, that was that was
wise. And you're unraveling this
story 20 years later. Saying
like what happened and and that's
kind of maybe that he he was
like Jesus in that that kind of way. So
now now now you're also part
(13:29):
of the banking yourself
organization. What would you say is the
both differences and
similarities between the
two and why?Are you in kind
of there's what's interesting is there's
always these different camps, these these
(13:49):
different groups that do this.
What drew you into this and
why stick with both for you
personally?Yeah, personally, I mean
Nelson, when he introduced this, you
know, when he'd written his book, I
believe 2000, he wrote that book. And
again, 2002 is when I was introduced to
it. And Nelson had met
(14:10):
Pamela and I don't remember for sure
where they met. But they met and
Pamela's a marketing person for her
company for people in our industry that
hired her and things. So anyway I got
introduced and she did a had a
range for she called me and said hey I've
met someone I think Grant you really need
to meet and I'm gonna have him do a do
his his seminar workshop. So
(14:32):
that's where it kind of came about. And
then Nelson you know came to all the
banking yourself conferences and you know
he he's the originator of all this as we
all. They, you know, that's true. And so
he came in there and that's where it's
all started. And so that's,
you know, that's how I met Nelson's at
the first, first conference and there
(14:52):
wasn't, there wasn't a practitioner
program at that point. And we did have a
banking yourself authorized program that
was created again for more
compliance if you will. So oversight
and which was a good thing because you
know, we want. We don't want people
messing up this strategy and there's
people out there that are and
(15:13):
so but he came out with his practitioner
program mostly to combat that
and and then you know we started
started doing the practitioner program.
It's a little bit before I did it. I I
was like Nelson already in the club we
you and I are doing all this stuff. He
said I want you to do this anyway Grant.
I said OK I'll do it. So I did it cause
Nelson told me to and I'm very glad I did
cause I got to meet some some other you
(15:35):
know super people in IBC that. You
know they're really trying to do the
right thing and and build things out.
But I'd say maybe the differences were
you know there wasn't all the oversight
necessarily but there is more so now with
IBC and the practitioner program
and and they're doing a doing a great job
and and helping new advisors even come in
(15:56):
now. So but I would say at the end of the
day you know Banker Yourself, Infinite
Banker, we're we're all rowing the same
boat here and and
both of them need to be held to the
highest standard. So we stand out over
all the rest that are using the wrong
types of products and telling the wrong
stories and cause there's just so much of
that. And I and I have a concern about
(16:16):
that, you know, about you know what's
going to happen in the future if that
doesn't get more in control. But we want
to do things the right way. We want it
done, you know, properly. We want our
clients cause this is something you're
doing for 50 years, 100 years. You
don't have to wake up with a problem down
the road. And and I I do
think like that's something thinking long
(16:38):
range is life insurance when when people
are buying these things,
yes, we think about high cash value,
we're thinking about leverage and using
it for your cars or whatever vacations,
business ownership
and I think that that's.
(16:59):
Really important. However, it is life
insurance. And so
understanding that is really important.
And so now, now you're part of
boast both. Now how have you seen
this?And and this is where people are
like, well, you can just use it to buy
cars or you know, this kind of thing.
What are some creative ways that you've
(17:21):
seen this work or with other
products, right?Cause cause you're not
just. Just a IBC
practitioner selling whole life
insurance, but you you do other things,
right?So annuities, cash
balance plans, other things. How
have you seen these things really work
(17:43):
together for a business or other
cool ventures that people have done that
you're like, Oh my gosh, they just bought
a helicopter. Not that they
would. Maybe they'll invite you on a ride
and you would do it. Yeah, I need a
client to go buy a helicopter so he can
go take me for a ride. So like if y'all
go buy you a Ferrari, I don't want to own
a Ferrari. I just want to drive yours.
(18:04):
Yeah, yeah, there you go. I'll give it
back to you. I don't want all the
maintenance. So but yeah, I
mean creatively, obviously y'all
everybody knows this, knows anything
about this is about you getting control
of the banking function. So we're talking
about finance, you know you're you're
there's lost opportunity cost, right.
Everybody's financing, you're paying
cash, you're financing. If you're
financing, you're financing to borrow
(18:25):
from money from the bank. So being about
getting control of that cause that's how
banks make a huge amount of money. You
taking their spot is a is a good thing.
And then you know then it's leveraging
other things. I mean you know some some
are listen here are already doing some
real estate investing with it or maybe
you're wanting to invest in some other
things. I mean I'm not telling you what
(18:45):
to invest in, you do what you want, but
you know we're holistic here and we we
look at it from the total picture and
cause we want everything to be tax
efficient. And that can be a mixture of
annuities in there because you know,
sometimes you'll hear people say, well,
annuities are terrible. Well, you know,
how about, you know, you got to be
careful about blanket statements. You
(19:07):
know, earlier about using the hammer,
using it, using the tool appropriately.
Annuities have been around forever, guys,
forever. And you know, and
the and the life insurance companies are
the king of this. You know, they know how
to handle that longevity risk, deflation
risk, market risk, withdrawal rate risk.
Order the returns risk, you know, that
sequence of return, you know, they're
(19:29):
the, they're the king of this. And and I
always had one guy said, I hate
annuities. I said, well, aren't you on
Social Security?And he goes, yeah, I
said, well, are you gonna call the Social
Security Administration to turn off your
payment?Well, no, I said, well, that's an
annuity. Yeah, right. But unfortunately
it's backed by an institution that's
broke, but you know, they're gonna keep
taxing. So I think, you know.
(19:50):
Taking your life insurance policy and
thinking about that from safety,
liquidity, that death benefit, all those
benefits, it comes, it's huge. It checks
a lot of boxes off. But also I think you
should mix in an annuity for that
guaranteed lifetime income. You can just
use them for growth. There's that's that
works great too. There's different kinds.
There's some I liked or some I don't.
(20:11):
Be careful about the all stuff. You know,
it's like I use a silly example maybe of,
you know, as well said, are all doctors
bad?Well, no. Are
there some good doctors out there?Yeah,
my doctor's great, but the rest of the
doctors are bad, right?No, that's
ridiculous. So use things
properly and contact properly, because
(20:33):
when you build your financial
house and think about what you want
from now to dead, you've got to use the
tools out there and use the ones that are
going to work. And you know what?People
like guaranteed lifetime income. And they
like having liquidity.
That's, I don't know about you, but you
(20:53):
know that that gives me some peace out
there knowing that I'm OK and then we can
handle things when stuff comes around.
Because I guess what stuff is always
going to happen. So we want
to hit the goals, but we want to be ready
for all the things of life that come
around that you're going to want to take
care of. And when opportunity comes
around, that's the part of the life
(21:14):
insurance piece too. Like I said, getting
that stability, getting that guarantee,
getting that floor. My our goal
is to guarantee our clients never have to
eat cat food. OK, cat food
zone here. So unless you like feed
it to your cat. But that's that's what I
would say about leveraging and putting it
in different places. Just get it, get it
(21:35):
in the right spot so you can leverage it,
keep money growing while you're out doing
other things. That's what the policy
does. It's not about this or it's
this and. And and get
control of everything. Yeah. And I I
think that's going back to the faith.
It's usually a both hand, right. When
we when we read some of those stories
(21:57):
it's like yes and this
and and I think about the principles that
Nelson had. There was several
principles that he, you know the arrival
syndrome or or different things that he's
he would talk about a lot.
And and so with like
(22:17):
the the
bank yourself type policies, I like to
think of those as that pool of money,
right. And that you can use, but you can
drain the pool if you if you're not
doing it appropriately or you don't have
the right mentor guide to help
say hey as Nelson says is don't steal the
(22:37):
peas from your own grocery store. Like
our job is to help make sure you don't
steal your piece, right?That's
kind of what I I tell people regularly.
I'm like, OK, what's your not that you
have to, but what's your loan
repayment to yourself like
or to the policy?
(22:58):
And so then you can reuse that and then
so we have the pool. That we can
use and then you have annuities as the
river for long-term thinking of of
income, right. And so you want both a
pool and a river. But as you've
as you've seen this, what if some people
(23:18):
use that pool of money for that you're
just like, Oh my gosh, I can't, what are
they doing?And then you come back three
years later cause cause we meet with our
clients regularly and you're like wow
that was. That was genius. And you,
you learn from them something
that you're like, I I didn't think that
(23:38):
was even possible. It is infinite.
Banking. So what's something that you
were like your mind was blown by your
clients, how they used it.
Oh gosh,
now we got to take a long list here.
Brandon should have warned me ahead of
time so I could have thought about an
example on that. You can tell we're not
scripted here. So
(24:00):
you know, I I just. I think it's great.
You know, like when one can start a
business, you know, I've seen, you know,
people who have gotten laid off, you
know, or they decide, I don't want to
work for the man anymore. I'm tired of
that. Or maybe they were a government
worker, you know, because they retire
those guys out pretty early.
Starting a business, I think is a good
one. You got that pool of money and you
don't have to go to the bank, the bank
(24:21):
and do that. If you go to the bank and
say, hey, I want to go to college,
they'll loan you all the money you want.
But you go up there and say, hey, I want
to start a business. You're like, oh, I
don't know about that. No, you know. So
why even go kiss the ring of the banker
on that?And I don't mean that personally,
bankers, but you know, it's it's one of
those things that go start your own
(24:41):
business. So I've seen that happen, you
know, many times and and what a great,
great thing because you know, people are
getting as they're getting older from a
corporate level, you know, they're, well,
they're too old. Well, they're not. But
sometimes they're not going to hire them
anyway. The government's not going to
hire you, but. Yeah, I
think you have in that pool of money to
(25:01):
to to go start your own business or maybe
it's some other opportunities. Maybe it's
a real estate investing. I think you
have, you know, with assets, I think you
have the right pieces put together. You
know, it's not all here, all there. We've
never said everything is in the whole
life insurance, but that is a
foundational starting point to deploy
(25:22):
money. But I'd say that's that's one
thing and then you know and that's a big
one. And then from there, it's just how
they leverage it into other investment
vehicles and made a ton of money. I've
done that. I did some land here between
Amarillo and Canyon back years ago and
it's turned out great. You know, didn't
you use it for horses?Yeah, yeah, we're
(25:43):
in the, we're kind of involved with some
horses. We're in the, we're more involved
with the reigning horses and cow horses,
more of the reigning, but we just kind of
dabbled in the cow horse stuff. But it's,
yeah, I have a reading operation and we
also compete. You know you can kind of
see my crew back here behind me. My
family got to put Boyd in there. Boyd
Meister is the nickname. I called him.
His name is Boyd. But oh there you go
(26:05):
cause I was like Boyd my I don't know I
change everybody's name. So that's just
me. Yeah just cute little kid. It's you
know I'm totally infatuated with him. But
anyway he's but with with the
horses you know that's another thing we
do with the reigning and and we're doing
some breeding and and competing and. And
(26:26):
so with that, that's been another spot to
do some of that with. Again, you know,
that's a little risky world there that
that may not work. So you got to be
careful with anything. So I like to, I
like to do more things that have a lot of
certainty, you know, the annuities, the
life insurance or different things there.
And then if you are gonna, if you're
doing all that stuff properly, then if
(26:48):
you want to go get risky with something,
then it gives you a little more
permission to do that, you know?That way,
if that doesn't work out again, you're
not over eating cat food or in this case,
eating horse feed, you know, So I don't.
I would say when people ask me that
question, what should I do?What?
How can I use this?And and blah blah
blah. They ask that question all the
(27:09):
time. Now here's the difference
between you and me. Well,
but one of the differences,
you actually own horses.
I don't. If I were to use
my policy to buy a horse, well, one, I
don't have the place for it. That's
(27:31):
and you have to buy the place and you
have to have all the infrastructure and
all of this. And so sometimes
people will listen to a TikTok video or
a thing and they say, Oh well, that guy
did that. So I'm going to do that and
and so for me.
Understanding if your skill set is I know
(27:52):
how horses work and I know how to do all
that stuff, then you could make a lot of
money. Possibly could also be a big risk,
you know, but I would not be the one. If
you were to work with me and you want to
talk about horses and how to
make money having them using a policy
loan, I would not know what to say.
(28:14):
And I think that's the power of infinite
banking is it's like, man, you know your
skill set and what you, what brings
you joy and you're able to use
this as a tool to do those things.
Absolutely. You know, and that's, you
know, we're in that, you know, we're in
an ag community out here, very, very
large ag, lots of cattle, lots of, lots
(28:34):
of things like that. And we have some
cattle as well, but. You know and if you
want to talk cattle and how to take care
do use this this system for it, you know
talk talk to blame my son. He's
very expert on that stuff. So but we
have a whole team here that can help you
with any of it. But it's you know picking
your picking the things that you have
some knowledge over. You know you just
(28:55):
don't go jumping into stuff unless you
understand what you're jumping into. But
yeah, if you got to be careful
and how have you used it this whole
concept has been. Used for college
planning, you guys have a college
planning, you are holistic, right. And so
you probably focus on the business side,
(29:15):
business owners, you probably, I mean for
me I'm like I don't even like college
and and so that's why I'm I'm a profit
first certified versus college
planning. But you have that
in your your team. How have you used
the infinite banking
concepts for college planning?Oh yeah,
(29:38):
we got a great team. We got Angie and
Brittany here, you know, kind of in our
college side mostly. But they,
yeah, I mean for that, you know, the
parents got their hair on fire thinking
about college and then we have that whole
service to help them pick the right
schools, find the money. What is the
right way to do college?Chris and I
started that years ago, my business
partner Chris, because we got tired of
(30:00):
clients walking in and wrecking their
retirement accounts to pay for college.
OK, so, soWe you know
partnered up with a group out here CPN
and and with our whole group and said OK
we're going to do this differently and so
they help us you know with the rough
pieces of it and then we do the planning
piece. So, so one piece of that in your
(30:21):
total plan cause you know college is a
retirement problem, you overdo
that that's going to hurt you and and
so that's one thing you can use these for
these policies. Because for the public
schools, it's not a counted asset. The
private schools will look at it, but it's
still an asset that helps be
protected from those FAFSA rules. If
(30:42):
you've heard, can you say that again?
Because people might have not caught what
you just said. Yeah, it's, you know, I'll
say it this way. You know, when you're
applying for school, you know, there's a
FAFSA form, Free Application, Federal
Student Aid. You fill out and if not to
all the schools that you're going to,
even if you you say, well, I make too
much money, I don't want to do that. No,
you still want to do that because they
(31:03):
look at merit with that. So, but
that's an asset. The life insurance is an
asset like IRAs are, annuity ERs are an
asset that's not looked at from what
they're looking at is from an award
standpoint for the public schools. The
private schools can still look at it, but
it's a way to toNot only, you know,
help with some of that, with helping you
(31:25):
with aid and things like that to some
extent, but it's giving you a way to pay
for school. So because because again,
college is a retirement problem,
you overpay for that, that's going to
hurt your retirement. Or you say, hey,
I'm just going to put this money here and
drain it down and pay for school. You can
do that. But you know, there's all these
(31:46):
single purpose assets out there like
529s got to be used for school to get
that tax free. You know, I had one son,
my oldest Blaine, who's with us here. He
went to college. The other son said no,
don't. I don't see anything good out of
that. I want to go do it all. And he
started his own business and he's doing
great. What kind of business does he run?
Well, he's this one, Blair. He's a
(32:08):
he's an auctioneer, but he's also
a media guy. He for these big horse
shows. Yeah, yeah, he's he's
those shows and he's also. Do some of
their commentating. You know if you ever
watch any of the raining horse shows, you
might see him there. It's where he's at
this week, Oklahoma City at at the
at the Derby over there. So that's his
(32:28):
business model he's doing and he still is
a professional raining horse trainer. He
breaks all of our horses. So anyway
he's that's his his path and but you know
as far as college he's like what am I
going to get out of that And so
you know what the life insurance was a
better pick cause if I chose 529. I
couldn't have used it for him without
(32:50):
getting taxed and penalized. So
I don't like single purpose assets.
That's going back to these policies.
You know, we kind of harp about it, but I
would still describe it as a Swiss Army
knife. I mean, cause you can, you can do
lots of things with that. Gives you lots
of ways to go. Again, it's a foundational
piece. You can deploy money from there
(33:11):
for whatever you want to use it for. Keep
your money growing. Don't let your
money sit on the couch. Eating bonbons,
watching soap operas. OK, so I don't know
if they're soap operas anymore, but you
know what I mean?Money's not allowed to
set. But that's how I handle
college. And that way, like with
Blaine, I didn't burn my money.
(33:32):
I kept. I still paid for school
and he participated in a little bit of
this cause I want skin in the game, but I
was able to keep keep that money growing
and then I just replenished it cause I
still want it for my later years. I don't
like the word retirement. I like passive
income years. That was Nelson. He
said quit saying retirement, passive
(33:53):
income years. And because retirement
to me, there's no place in the Bible says
to retire. So if you can find where Moses
moved to the beach, start drinking my
ties, let me know. But it's not in there.
So we want to have, I don't want
retirement to sound like you go home and
die. Yeah, yeahSo we just need to make
sure we get it covered. And I think what
I like about what we do is we are.
(34:16):
Helping build clarity and chaos.
Our world is in
chaos. The financial world
is, is, I mean, you've been in it for a
while. I feel like honestly it's
I've I've talked to people saying, Oh
yeah, well, you got into this business to
make money, not to serve clients. And
(34:37):
yeah, and I think that we need to make
sure that we are building.
Clarity. And if you confuse, you lose.
And most people are confused. But
by working with us, we're
able to build a good road map.
And and build a
clarity of purpose and build a good
(34:58):
foundation, right?And I think that
that's a hard part because people want
the quick, easy fix or or they
love, hey, I just used it to buy a horse
and that sounds cool. Unless you don't
like horses, then that's probably not the
best idea, but it would
make a great Tiktok video probably.
(35:20):
Maybe I'll do that one day. I won't do it
on TikTok, but I'll do it one day. So
it's you're you're right. I think it's
back to really what is it you're trying
to do?What is it you'll want?Yeah, in the
day. I mean, we talk about all this
stuff, different things and all that's
great and wonderful and fantastic, but
you may not identify with any of that
stuff, but what is it you want?Because
(35:41):
that's when you can start seeing where
where does this fit?What products, what
financial vehicles should I be using?And
and and get the truth. You know, there's
again, you know, we can't, we don't sit
here and say bad on everything, but it
depends on what you're doing with it and
how you're using it, I think is the big
piece of it. And get some clarity about
it because it really is important that
(36:03):
you start thinking about really what you
want. Cause you know what?Five years is
going to go by, 10 years is going to go
by 20 years, 30 years.
So you better think about it.
If you don't have a plan for your money,
everyone else does. And
and that's including Wall Street. That's
(36:24):
including understanding the
tools. I want to be an educator.
A lot of times people are like, yeah, but
it's too confusing. I I just just give it
to me. I'm like, no, I want you to
understand because you're the master of
your ship as the client. I want them to
be the master. I will be the guide. I
will help them. But it's them
(36:46):
and we'll we'll do six month reviews
and and and read read a little bit. You
know you got you're sitting there behind
you know Brenda's desk back there. You
see banking yourself a profit first
becoming your own banker. There's more
bucks you know out there and that are
good bucks you know don't be read a
little bit and you know
(37:09):
Nelson always said to me he goes grant a
man it won't read is doomed to ignorance
and. And I and I think that's probably
the biggest link. We have people coming
through contacting us. They haven't read
much and we try to get them reading. You
know, it's like can you, can you read a
sentence?Yeah. I think we
have to get back to more of that. And
(37:31):
so, you know, you can watch 49 videos
and I think there's some good ones. I
think there's not so good ones. But
you get too much information and it's
back. Now we're in noise world again.
Yeah. Confused. And then we come to
frozen and it's better, you know,
to do something than nothing. Hopefully
the something you do is is a good thing.
(37:51):
You know, people, I don't want to make a
mistake. I don't either. You know, I've
made enough of them for you up to this
point that I can sit here and share my
mistakes with you. I've been in this
business long enough now that I've gotten
to see a little bit, which is hard to
believe I've been in this business this
long. Well, I'm still trying
to figure out what I want to be when I
grow up. So, but you know, I really
(38:13):
do love what I do. And you know, if you
go help people get what they want, you
you'll you'll end up being taken care of
too. God blesses that. So, so,
you know, So what, Scott, you know,
grandpa, I'll wear it. Doesn't bother me
at all. So, you know, grandpa's going to
be after, you know, on the wake board
behind the boat doing back flips. So you
just call grandpa all you want. I
(38:36):
mean, I think about that as in this idea
of mentorship and and
discipleship and and any of that is
like having those people we look up
to and learning from. I never got to meet
Nelson, but
he has been same with Pamela. I met her a
couple times. But they they've helped us
(38:57):
along the way and to have those
people and I believe as we work
with our clients and as you work with
yours, you're probably that to them,
right, a sounding board if you will.
And that's why I love doing six month
reviews and helping our
(39:17):
clients be even where they come back
and they're like I can't believe that
this. Happened or or that I'm
doing this. So any
closing thoughts that you want to make
sure that we cover?I know we're running
low on time, but but
I mean technically I can go as long as
(39:39):
whatever, but a lot of editing.
Yeah, I'm is. I mean
it's one of those assets that we we have,
you knowHaving this with you is is very
powerful. So but what would you
love to make sure that we
share, hit on, talk about
(40:01):
or are we like, hey, that's good.
No, I, you know, I it's like I say
Brandon, I can sit here and I can take
both sides of this conversation and take
care of it all by myself if I needed to.
I can sit here and talk your head off
about it. But you know, I think it goes
always goes back to. Yeah, I always go
back to the source. You know, God is just
(40:22):
a life, right?Whether you're a believer
or not, God is the source for me. And
that's what's important that none of this
happened without his blessings. OK.
Everything I have is because of what he's
given me. And so I think when you are
given something, you need to try to be a
good steward with it. We all make
mistakes, but and I
think when when Nelson, when I talked
(40:42):
about Nelson before he passed away. You
know, two days before he passed away, I
called him on his birthday, didn't
answer, knew something was up. He was in
the hospital and he had
sent me an e-mail about, you know, you
understand this and and we talked about
that, you know, back and forth a little
bit. But I I would say that, you
know, you're you're given an opportunity
(41:03):
to see something, OK, dig into it.
And if it's not for you, walk away, good.
You know, then at least you know, right.
But don't be afraid to walk through the
door. I mean, opportunities are
there. You can always come back out if
you don't like it. That's great. But
you know, it's one of those things that's
been proven. It's been around forever.
(41:24):
You know, the industry's been around
forever. It's not new. And as Nelson
always said, it's ridiculously simple,
you know, and you guys, what do you say,
rethink your thinking, you know, plan
long term, don't be afraid to capitalize.
You know, talking about the concept
specifically, get the money put in there.
Rethink your thinking so that you're,
(41:44):
you know, getting yourself away from the
the banking, the banker side of it and
and understanding that even the bankers
buy these things like crazy. You know,
you know, you can go do some research on
that and we give you some resources to
look at. But I think for
anybody, you know, go dig into it
further, ask the hard questions
and don't be afraid to step in and
(42:06):
you know and and have a little faith, OK,
you know again. You know, what did what
did Reagan say?You know, how how did he
do that quote?You know, trust but verify
thinks how you said it. And I think
that's OK. So anyway, I would just say
jump in and and look at it and if we can
help, we'd love to help. Brandon can
help. You know, we've got a whole, you
(42:28):
know, plethora of people that would love
to help you if you want that help. But if
you don't, if you already know
everything, you got the arrival syndrome,
then you know, then you can just go
figure out things on your own. I figured
out in my life when I think I know
everything, I'm wrong and and I figured
out a long time ago to get have people,
have people around me that they care
about me, that will give me input. And
(42:50):
like in our industry, I've always tried
to get around the smartest people so they
could help me. I'm I'm still learning and
growing all the time and that's why I
want to be in our finances. So I'd say
Brandon. You say what you want to say,
but I appreciate you inviting me on here
and let me let me ramble a little bit.
So I I think that's important that
(43:12):
arrival syndrome and a lot of
people think they're already there. But
but here's the thing, guys, finding
people that can help you. We are
specialists in this concept.
And and have
learned how to use it. Somebody has
a fewer, a few more grey hairs than I do,
(43:34):
but you know
Being able to learn from us or even
as as we work together, as I work with
clients, I I reach out. We were part of
mastermind groups and always
learning what could we do better or
could how could we help more people or
(43:54):
those kind of things. So I wanted to
share this. This is your website if
you go to Thompson and
thompsonthurman.com.
That's you guys, Grant Thompson
and Chris Thurman. But here is
their website of course the infinite
banking concept. But I wanted to share
(44:16):
this here. Anything you want to like make
sure that they hit on or or you want to
point out to the website that they should
go get. I would just
say you know main thing of websites is
kind of introduction of people. You know
we don't go make them digging deep in
here, try to teach everything in the
website cause there's just so much but. I
would just say go there, book a meeting
(44:36):
with one of us. If you roll down there a
little bit, you can see all of our our
great, beautiful faces. We look better on
the pictures we do in person.
But you got the whole crew down here. You
can see all these people and
every one of them here can help you and
do a great job. So we we love to
work with you. You know, if you're if
(44:56):
you're coachable and you want help with
your stuff, then we'd love to work with
you. You know, as as branding
them would too. We we love, we love our
clients and we want to we want to be
there for the long haul for them and help
them with everything they're doing. So
that's what that's what our goal is. And
if you like that idea then reach out to
us. We'd like to love to meet you. I also
(45:18):
noticed you're doing some videos.
Yeah, not me. I'm just in them.
So anyways, Spencer's kind of our
media guy. He's starting to play with
some of that and. Yeah, don't ask me
how to do it. I've got the easy button
sitting here on the on the self here. If
it doesn't work, I hit the easy button.
Yeah, we're doing a little bit of that.
(45:39):
We're trying to take off a little bit and
so maybe we'll come up with some funny
stuff. Yeah, yeah, life's a little
too serious. So don't take yourself too
serious. You know, have some, have some
fun, enjoy people. And you know,
people sometimes are hard to love out
there. We try to love them anyway. Yeah,
right. Oh, trust me. So.
So as you guys, as we
(46:00):
land the plane here, go
to his website
thompsonthurman.com. Find them on
the socials. Hit that like button on
their videos. They're they're having some
fun. Even old guys
can be on Tiktok, apparently. So
I am too. I don't even know how how half
(46:22):
of that stuff works. I'm
glad other people do. So
as you guys are going through life,
remember, be the master of your own
ship. Find the guides that
understand and understand
how money works. This is we are all
in the finance business, every one
(46:45):
of us. This is a great tool
to help you.
Be able to understand and leverage
that financial world. So
with that, thanks for watching. Don't
forget to hit that subscribe button.
Share this with a friend. If they're in
college or wanting to start a business,
(47:06):
those things are important. Building that
foundation. It's never too late to start
that. Amen. All right.
Have a good day, guys.