Unlock your financial potential with strategies that go far beyond the basics. What if you could not only secure your future but also build significant wealth through the power of insurance? This episode promises to transform your mindset about financial planning by exploring the incredible benefits of Cash Value Insurance, whole life insurance, and annuities. Discover how these tools transcend traditional savings accounts by offering tax-deferred growth and the opportunity for ONLY UPSIDE returns tied to stock index performances. Learn how banks capitalize on your deposits to achieve impressive gains and how you can adopt similar tactics to maximize your financial portfolio.
We journey through the four wealth quadrants: Accumulation, Protection, Distribution, and Transfer of Wealth. Starting with the crucial need for early wealth accumulation, we guide you through protecting your assets with cash value insurance; maximizing tax-free income during distribution, and ensuring a seamless wealth transfer. Life insurance emerges as the hero of the story, offering a cohesive strategy for managing and preserving your wealth. Properly structuring and funding these financial vehicles is emphasized, along with the importance of seeking reliable advice to navigate the complexities of wealth management. By embracing a growth-oriented mindset, you can transform impulsive spending habits into disciplined, long-term financial strategies.
Also, prepare yourself for a life-changing entrepreneurial announcement coming next week, designed specifically for business-minded individuals eager to take their ventures to the next level and keep them safeguarded. While we can't spill all the details just yet, we encourage you to gather your loved ones during the Thanksgiving holiday to explore who might benefit most from this exciting opportunity. Our mission is to empower you with financial savvy and strategic insight, ensuring peace of mind and a bright financial future. Don't forget to follow us on social media and across all of our podcast platforms to stay updated on the latest developments and to gain access to exclusive content that promises to make a positive impact along your financial journey.
Learn more about the FBN initiative and get access to all social media platforms at https://linktr.ee/fbnlinks
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Transcript
Episode Transcript
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Speaker 1 (00:00):
First and foremost we want to be clear that what we
are sharing with you arestrategies and concepts that can
be implemented by individualswho understand the logistics of
how to approach such platformsas far as the literal, the
(00:27):
mental and spiritual formatneeded to be successful with
your aspirations hey yo, what'sup world?
Speaker 2 (00:58):
you're tuning in to fbn and this is another episode
of finance bros network, and Iam the one half of finance anton
lefwich, and this is anotherepisode of Finance Bros Network
and I am the one half of financeAnton Lefwich and this is
Michael DePoe, the other half weare coming to.
Speaker 3 (01:13):
You live with finance for everyday people.
We are honored to be here andto be able to serve diverse
communities as usual.
Speaker 2 (01:29):
Hey, welcome everybody.
Look, today we're diving deepinto practical ways to shift
your mindset.
You guys already know we'rekind of focusing on the mental,
but we're also giving strategiesthis season to make sure we can
all go in with a confidentheart and be passionate in the
things that we're doing.
So we want to help practicalways to shift your mindset, and
we're also talking aboutsomething that often gets
(01:51):
overlooked in our UPIcommunities, like savings in
insurance plans, like indexuniversal life insurance, whole
life insurance and annuities.
These tools can be true gamechangers for us out here and
when it comes to saving andgrowing our money.
So we want to think of a nicetitle for it.
(02:12):
So we figured we call it AllAbout the Benjamins.
Baby, it's All About theBenjamins baby.
Speaker 3 (02:20):
Yeah, bud, that's what's up, man Todd.
Yeah, but that's what's up, manTodd.
You know these plans are notjust for life insurance.
They're financial vehicles thathelp you build savings while
protecting your families.
For example, an IUL lets youbuild cash value that grows, tax
(02:40):
deferred and it ties toperformance of a stock index, so
that that that helps you know,with, uh, the, the growth like
the s&p or something that weknow we see every day, right,
right and and whole lifeinsurers offers guarantees,
returns and annuities that canbe provided steady, that can
(03:03):
provide steady income as yourretirement.
So obviously, with annuities, ifyou put your and believe it or
not, annuities is a lifeinsurance product A lot of
people don't know that.
They are offered by lifeinsurance companies.
Right right, it's lifeinsurance company and I know
you're the subject matter experton this particular subject.
Speaker 2 (03:21):
I do deal with this a lot.
Yeah, you could definitely askme some questions Day in and day
out.
Speaker 3 (03:26):
So, ladies and gentlemen, whoever's hearing
this in the sound of my voice,dm, mr Anton.
He is a licensed insurancerepresentative pretty much for
almost all 50 states.
Speaker 2 (03:40):
Yeah, we up to 32 states right now 32 states.
Speaker 3 (03:43):
So if you're thinking about this, especially that
we're talking about it, you knowagain, we want you guys to get
the Benjamins, and this is whatwe're talking about.
We're talking about how to getthese Benjamins, how to save,
and that's what's important here.
We want to make sure that youhave the mindset as a wealthy
and to save, because lastepisode we asked you do you want
(04:07):
to be rich?
Do you want to be poor?
Do you want to be poor?
Yeah, do you want to get withthis or do you want to get with
that, or?
Speaker 2 (04:13):
stay with that.
Speaker 1 (04:13):
Or stay with that.
There you go.
That's right, that's right.
Thank you for backing me up.
Speaker 3 (04:26):
So, with that being said, we're going to continue
with a mindset of what we needto do for saving now.
Now you have actual savingsaccount.
Now savings account.
What does that bring us?
And we all know from our lapepisode.
What does that bring us, anton,what does a savings account
bring you?
How much can you actually makewith a savings?
Speaker 2 (04:39):
account.
Well, traditionally it'sprobably along the lines of 0.1
or 0.2% Very, very little 0.1points.
Speaker 3 (04:46):
So if I put $10,000 in a savings account at the end
of the year, what the bank isgoing to give me back?
Speaker 2 (04:54):
Shoot, well, 1% of $10,000, what would that be?
$100, right, right, so 0.1.
$1?
Speaker 1 (05:02):
There goes your dollar, oh God so what dollar
there goes, your dollar, so.
Speaker 2 (05:13):
So here we are.
I'm doing the math right.
So ten percent of ten thousandwill be a thousand right and
then one percent of that wouldbe a hundred so point zero, one
that'd be.
Speaker 3 (05:17):
That's a dollar yeah, yeah, that's that.
Well, it's a dollar on athousand, and 10,000 is going to
be $10, right?
Speaker 2 (05:26):
Is that right?
Well, if you're okay.
So 10% of a 10,000, that's athousand dollars.
Yeah, okay, but you want 1%.
Right, we want 0.10%, that's ahundred.
Speaker 3 (05:37):
That's a hundred dollars.
Oh, a hundred dollars.
So it's a hundred dollars for10,000.
I'm talking about 0.1%.
Speaker 2 (05:43):
Yes, yes, 0.1 of $100 is $1.
Speaker 3 (05:48):
Right, that's $100.
Okay, so if we put $10,000 inthat savings account, what?
Speaker 2 (05:53):
do we get?
Oh yeah, so then you have a $10.
Speaker 3 (05:55):
Yeah, yeah, congratulations, by the way $10
for the whole year and I know wespoke about this before, but
it's always good to reiteratehow much does the bank make on
your $10,000?
, how much they're allowed tomake on your $10,000?
Speaker 2 (06:14):
So there's something out there you guys might want to
research and I'll break thisdown to the very simple.
I know you know Mike loves thesimple, simplicity aspect.
So there's something out therecalled Bollies and Coley's.
It's called bank owned lifeinsurance and corporate owned or
company owned life insurance.
Look it up, it's publicinformation.
All right, the bank takes ourmoney and they invest into
(06:37):
insurance and they get eight, 12, 15 upwards of whatever percent
they make on our money.
Now, obviously banks don't keepour money in the bank.
We all know that.
Insurance companies, they don'tkeep our money in the insurance
company.
They invest in gold, silver,real estate, whatever it is they
invest in.
(06:57):
But the point is we'reessentially giving someone our
money to leverage, to do morewith, because if you have 100
million people putting theirmoney in one place, now, this
entity has leverage to use thatpool of money to get into the,
to get into investments that youor I would never see.
Right, right, okay, because theminimum, the, the barrier of
(07:18):
entry, is a billion dollars, andI mean how many people have
that to do that?
All right.
So essentially, what we'redoing by putting and I'm not
saying that banks is not a a badthing like keep whatever you
want to do, keep your money inthe bank.
You feel safe, that's fine.
You know what I mean.
You got the fdic, the federaldeposit insurance corporation,
250 000 by the way 250 000.
Okay, anything above that yeahso well, yeah, figure.
(07:42):
If you don't know what sol is,go figure it out exactly all
right, you're doing riskmanagement we talked about that
risk management, all right sojust know that we're giving
someone our money to essentiallyleverage, to do more with, and
then we're doing that for thesecurity to go back and say that
at the end of the month, whenit's time to pay rent, I can
take this money out.
(08:03):
It'll be there Period.
All right, there's nothing thatsays we can't reposition or
redirect where we keep thesefunds.
All right, understand, it's avery strategic way to do it.
It's a disciplined way to do it.
It's not always somethingyou're going to start today and
then use tomorrow.
Okay, there's four, there's afour wealth quadrants of legacy
(08:26):
building.
Okay, and I kind of go overthis with our clients, there's
the.
There's four phases of life.
Essentially, mike, you've gotthe accumulation phase, the
protection phase, thedistribution phase and the
transfer of wealth phase.
There you go, obviously, whenyou're young, that's the wealth
phase.
There you go, obviously, whenyou're young, that's the
accumulation phase.
You're trying to acquire asmuch money as we possibly can,
(08:51):
save up as much money as wepossibly can.
Get our money to work for us ashard as we possibly can.
All right, accumulating moneyAll right.
Essentially, when you're 16years old, you can legally
accumulate money, getting a job,whatever, all the way up to
where we're probably about inour 50s, we're going to start
thinking about retirement.
(09:11):
Some people think about it alot earlier if they're smart,
but not all of us do, becausenot all of us were taught that,
but just know that theaccumulation phase is the part
where we're trying to accumulateas much money as possible.
Eventually, though, we're goingto get into a phase where it's
time to protect our assets,protect our money.
We can't.
(09:31):
If you're 25 and you sufferedin 2008, you probably weren't as
worried as my parents were, whowere 55 in 2008,.
Right, because guess what?
They can't maybe suffer anothermarket down crash and then have
time to recover from that?
That's right, all right.
So understand that there areasset protection class products,
(09:53):
annuities being one of themthat can basically eliminate the
downside, so our money can goup, it can go sideways, it can
go down.
Basically, you can earnsomething, you can earn nothing,
or you can lose, right, allright.
So things like annuities and Iwon't go too deep down the
rabbit hole, but things likeannuities eliminate the downside
, okay, so now we're justfocused on making sure our money
(10:15):
accumulates as much as itpossibly can and the market goes
down.
The floor is zero and it neverloses money.
It's called insurance.
You get insurance on your house, you get insurance on your car.
You get insurance on your life.
You get insurance on your money.
It's very, very simple.
Don't let these videos out heremake it complicated.
That's just what.
It is All right.
(10:36):
So accumulation Accumulate asmuch money as you can Get into a
protection phase, get into anasset protection class product
that can protect your money,okay, at some point.
Then there's distribution when,obviously, distribute as much
money as we can out of thesevehicles as tax free as possible
.
There you go, uncle sam gonnaget his cut all right all day,
(10:56):
and we're not saying don't paytaxes, because everybody gotta
pay it.
What we're saying is how do wepay our fair share?
Right, okay, and eventuallywish I could say it was
something different, buteventually everybody's going to
go that way.
We're not going to be on thisplanet forever.
When you transfer, when youleave this earth and you have
your legacy, how do you transferthat wealth to your family,
(11:18):
again, as tax free as possible?
The reason why life insuranceis one of the most powerful
vehicles that people like theRockefellers, the Kennedys, the
Nikolai Teslas, all these richpeople are using in this world
is because life insurance is theone vehicle that utilizes all
(11:40):
four quadrants simultaneously.
All right, and that's as easyas I can break it down for you
to make you curious enough to atleast go do some research, do
some homework and make somephone calls.
All right, so you haveaccumulation, you have
protection, you havedistribution of wealth and you
have transfer of wealth.
Okay, you're accumulating moneywhere you can overfund your
(12:03):
plan.
Again, I said this in otherepisodes, we talked about this
on the TV show and we talkedabout this in season one.
It has to be properly structured, properly funded and given time
to mature.
Okay, you can fund thesevehicles in a way where it can
earn cash value and it canmirror.
It's not in the stock market,but it mirrors the stock market.
(12:24):
The reason why the insurancecompany has it mirror the stock
market is because it's somethingthat you know, insurance
company, I can expect you toexpect you to understand.
Or we're investing in gold,silver, real estate is how we
make your money.
We, we just we know that the SandP 500 went up 10% this year
and I got 8% of that.
Or if it went up 15% and I got12, I'm pretty happy about that,
(12:46):
that's right.
So it's going to mirror anindex.
That's why they call it IndexUniversal Life.
All right, but understand thatproperly funded, excuse me,
properly structured, properlyfunded and given time to mature,
all right.
So you'll look this up online.
You're going to see goodstories, success stories.
You're going to see horrorstories, because everybody's not
a good person in this industryand everybody's not doing the
(13:06):
right thing and everybody hasn'tbeen educated properly.
So make sure you get withsomebody who can trust, who
knows what they're doing.
All right, and I ain't tryingto be long-winded, mike, but I
can go about this.
I can go about.
I hear you, so I'm spittingfire for you right now and I
really just we hope ourwealthiness grab this stuff
because it's very important.
Okay, it's not all of yourportfolio, it's a part of your
(13:28):
portfolio, it is an aspect ofyour strategy to make sure you
understand, to have an expectedor a predictable outcome.
Okay, so understand that.
So remember the four wealthquadrants accumulation,
protection, distribution ofwealth and transfer of wealth.
And that's just one aspectright there.
(13:48):
There's a couple other things,too, you wanna keep in mind.
You know life insurance doeshave a dual purpose.
You know these plans provide,obviously, life insurance
protection while allowing forcash accumulation, giving you
peace of mind and savings ofgrowth.
Obviously, if something were tohappen to you, you want to make
sure your family's taken careof.
There's a death benefit and allthat stuff to pass along to
your family if something were toever happen to you.
(14:10):
I have a life insurance policyfor well.
I have life insurance policiesstrictly for the fact that, if
something were to happen to me,I just want to make sure my
mom's not going to be worse offthan she is right now.
My dad had life insurance.
My dad believed in lifeinsurance.
I saw what the other side waslike when my dad passed away.
My mom was grieving mentally,but not so much financially.
(14:31):
So obviously I've seen thisfirsthand and I deal with this
every day.
So obviously I'm not going tobe out here educating people
with no shoes on.
Speaker 3 (14:43):
So you know the other way to say that.
Speaker 2 (14:44):
All right, and there's tax advantages.
We didn't get in the weedsabout this, but the growth in
our IULs and life insurance istax deferred.
You can borrow from yourself.
Essentially, there's somethingcalled the volatility shield.
There's called the laser fund,which stands for liquid assets
safely returns.
There is they call it infinitebanking.
(15:04):
There's all kinds of differentFancy names to place over this
vehicle, but essentially what itis at the end of the day is
cash, value, life insurance and,yes, you can grow your money
inside of this vehicle.
Establish a family bankessentially quote, quote,
unquote and then borrow fromyourself tax-free because loans
(15:25):
are tax-free and take out a loanfrom your private family bank
and then use that to go dosomething strategic.
Okay, pay yourself back forcrying out loud.
Keep in mind, if it's a private, if it's a, the board here is a
bank Banks want to get theirmoney back, okay, so if you have
a private family bank, makesure your bank gets this money
(15:47):
back.
Yeah, obviously you're going tobe borrowing from yourself at a
much more reasonable interestrate than it would from a
traditional bank, but there arethings you have to make sure you
keep in mind.
Right, and we can, and weeducate people on this all the
time.
Speaker 3 (15:58):
So I'm going to, and you know what?
Speaker 2 (16:01):
I gave you a lot.
Speaker 3 (16:02):
Right now, mike, I know For the sea urchins that
are out there, people who likethat, the technical stuff.
You know they're like wow,anton, I appreciate you.
Speaker 2 (16:11):
You know for sure, for sure.
Speaker 3 (16:13):
So for the ones I'm going to make it you know me
simplifying everything Break itdown.
So, to keep it simple, justthink about it this way.
And then you got to get incontact with Anton if you want
this life insurance and want allthose scenarios that he spoke
about.
But think about it this way.
For the ones who thought thatoh okay, maybe he needs to say
(16:35):
it again.
Well, think about this thebanks, when they have your money
, money they're allowed to use10 times of that money.
That's right.
So remember, we spoke aboutputting a savings in for 10 000
and they're giving you back onepercent yeah, oh sorry, 0.01 or
0.1 right 0.1.
(16:57):
So they are putting that moneyinto a life insurance company
and making all that money andgiving you 1%, that's 0.1%.
That's how they make theirmoney.
They put it in an index,universal life, they put it in
other type of investment andmake all this money on this debt
(17:18):
, that 10,000.
And the government allows themto use 10 times the value of
that 10,000.
The government says, okay, youhave 10,000.
You can, you could spend ahundred thousand.
Say what, yep, yeah, they were,but the insurance company is
the reverse.
Speaker 2 (17:36):
They have to have three to $5 in reserve Right For
every dollar they lend out.
So right for every dollar theylend out so so for every dollar
that they operate with rightbasically so why not us mimic
that scenario?
Speaker 3 (17:49):
that's all I'm saying .
If, if the insurance is allowedto only use five percent and
still make money on your money,why can't we do the same?
So, so why not join theinsurance money?
That's why the insurance money,the insurance companies, have
more money than the banks, right, because they're not allowed to
(18:14):
invest in risk.
Because the whole point of thegovernment say if you're an
insurance company, if somethinggoes wrong, you need to be able
to pay people.
Speaker 2 (18:19):
Mike, it's called Federal Deposit Insurance.
Speaker 3 (18:21):
Corporation.
There you go.
Speaker 2 (18:23):
FDIC.
There you go.
Banks operate the way theyoperate with the aspect of
insurance is lacking.
Speaker 3 (18:31):
So all that being said is think about it.
You put your money in a bankaccount.
It's not doing nothing for you,but you put your money in a
savings.
That's like an insurance, likewe spoke about the IUL, the
whole life insurance or theannuity.
Now the money's working for you, it's growing and that's what's
(18:52):
important.
And mentally, anton wealthyshould shift from a get money
and spend money mindset to onefocus on making and growing
money.
That's what we were justtalking about.
Growing your money involves inrecognizing money as a tool that
works for you, not just forsomething you work for.
(19:14):
The growth mindset is built onthe idea that waiting for a
long-term payoff can be morebeneficial than instant spending
.
Knowing mentally or mentalshift towards using tools like
(19:35):
IUL encourage you to planfinancially.
You to plan financially, thinkahead and focus on growth
instead of just meeting today'sneeds, which a lot of our UPIs
are doing.
Speaker 2 (19:48):
Right, and this is, this is the thing that really
and with that, mike, I love thatyou brought that up, because or
that you're emphasizing that,because these are things that we
put in place essentially tocreate some accountability for
ourselves.
Right, having these types ofaccounts does require some
discipline.
Speaker 1 (20:06):
All right.
Speaker 2 (20:07):
So if we set a plan, when we set up these, when we
structure these plans, they'restructured with a promise,
essentially Right From theinsurance company and from the
person that is actually gettingthe plan.
So if it's a setting that youdecide to put in place for
yourself whether that's $100 amonth or $500 a month, wherever
(20:29):
you're at in life, you know whatI mean You're setting this up
for a long period of time.
It's the long game, it's notthe short game.
Speaker 3 (20:36):
Exactly, and it's a way of self-discipline.
Yeah, you understand, they aresupporting your self-discipline.
Saving in this manner whetheryou choose an IUL, whole life
insurance or annuity, saving inthat manner is a way of
supporting your self-discipline.
Because it's hard, guys, it'shard out there.
(20:57):
And you got remember, I think,one episode we spoke about you
know, johnny coming over, can Iborrow?
Or your brother asking, can Iborrow this money?
If you're putting your money ina savings that is hard to get
access to, right, right, or yourgame plans, long-term, you just
say what?
I don't have the money?
(21:17):
Yep, I don't have the money.
And that allows our UPIs outthere, that discipline, because
a lot of them they have it inthe savings how fast you can go
to the bank and take out thatmoney In a heartbeat.
In a heartbeat but let's say,with an IUL, you got to request
(21:38):
it.
Yeah, you got to put in arequest, fill out a form.
Speaker 2 (21:40):
Fill out a form.
You're borrowing money fromyourself.
Speaker 3 (21:42):
You're borrowing your money from yourself, but it's a
process, yeah yeah, and youknow what that gives you.
I guess I'm going to createthis word buyer's a borrower's
remorse.
Speaker 2 (21:54):
Borrower's remorse.
Borrower's remorse Some of usneed that safety net in there to
make our money not soaccessible.
Speaker 3 (22:02):
Think about it for a minute.
So it's asking you for thismoney.
You got to go through thiswhole process to get this money.
Hmm, should I really give himthat money or should I give her
that money?
So this again it's an emotionalthing, right, it's an emotional
thing and you have to say toyourself this is what I'm doing
(22:24):
to grow, this is what I'm doingfor the long term, this is what
I'm doing to benefit myself inthe future.
So if it's less accessible,then it's better and it's more
beneficial, because we're notmaking 0.01%.
We're talking about a growth.
Up to some IULs could probablygo up to what?
(22:46):
16%, 16%.
Speaker 2 (22:51):
There's no limit really on.
There used to be these thingscalled caps.
Nowadays insurance has evolvedand there's things these called
participation rates.
So some accounts, if you get agood company, can have 120%
participation, 130%participation.
(23:11):
You know it just depends.
So I mean essentially,essentially, if the market went
up 10% and you get a hundred andthirty percent participation
rate, you just got 13%.
But but before you get all,before somebody out here get
what do you call itcontroversial?
Remember what I told you, whatinsurance companies, just like
(23:32):
the bank, your money don't staythere.
Insurance companies take ourmoney.
They invest in in gold, silver,real estate.
Trust me, trust me, if you hada good year, they had a great
one, all right.
Speaker 3 (23:46):
They had no, not even great.
They had a phenomenal.
Speaker 2 (23:52):
They had a phenomenal year.
They could pay our little 13%.
Trust me, they're not worried,all right so and all this.
This also too mike now and and Iwant to just emphasize quickly
before we go into the breakdown,that because we can cover this,
like I said, we can just gointo this and really, really
deep down a rabbit hole, but wewant to give you guys a very
(24:12):
specific baseline and justsomething to be encouraged and
curious and look further.
Do your homework, reach out tous, go to Google, whatever you
do.
But you have to believe moneyhas meaning beyond just bills
and expenses.
For many, making and growingmoney represents creating a
legacy or securing peace of mindfor loved ones.
(24:33):
All right, this is wheresavings and insurance carries
spiritual weight and also ourUPI status.
Wealthians who are trying toget to that privilege status can
see their money grow inpolicies or financial
instruments or vehicles thatbenefit you and their family.
Fosters a sense of benefitingyou and your family.
(24:55):
Fosters a sense ofresponsibility.
Benefiting you and your familyfosters a sense of
responsibility like we spokeabout, and pride in how you
manage your resources, kind oflike a stewardship.
Oh, new word alert Astewardship.
Speaker 3 (25:07):
Stewardship.
What does that mean?
Speaker 2 (25:09):
Anton.
Yeah, we're making you go backto Webster again but, you know
we got you back.
So look, it means word for wordspecifically, if you look this
up, it means stewardship, meansthe careful and responsible
management of somethingentrusted to one's care.
Speaker 3 (25:24):
Wow, that's awesome.
That's awesome.
So think about that and that'sa good way to look at things.
You know your stewardship.
You're a stewardship.
You're responsible.
So, the money you're making nowwhether it be your wife or, ie,
your husband you know your kids.
You're responsible.
(25:45):
You're that stewardship.
So, if you're a woman, you'remaking great money for your
family.
You're that stewardship.
What are you going to do withall that money?
Are you going to spend it onfrivolous things?
Right?
If you're a man, same thing.
Are you going to spend it onfrivolous things?
(26:06):
You're that stewardship.
Yeah, Make sure you're lookingat the right things to put that
money in to protect and helpyour family, Because you're
responsible for it, Right?
Speaker 2 (26:22):
Amen to that.
And you know, I want to realquick, I want to just we're
going to get into the breakdown.
Speaker 1 (26:27):
We got to go.
Speaker 2 (26:27):
We got to go, but real quick.
There's a question that I putout there in season one and I
asked you this Mike, we wereactually on a podcast.
I asked you this has beenrecorded?
I said what if there was anaccount out there?
I told you that you could putmoney into earn interest.
(26:47):
Something happened to you.
Your family would get a lumpsum of money.
But, as you go out on in life.
You could actually borrow fromthis account tax-free, but the
principal would actuallycontinue to grow and earn money
as if it's never been touchedand I'll go back to what I said
before.
Speaker 3 (27:04):
Where do I sign up?
Speaker 2 (27:08):
So that that is an aspect of cash value life
insurance infinite bankingvolatility, whatever they call
it out there.
But that is an aspect of that.
And just let's be mindful,let's be smart.
Okay, don't follow the carrot.
The shiny thing, understand,properly structured, properly
(27:29):
funded, given time to mature,all right.
So, there's a strategy behindit.
There's some sense behind howto make this thing.
Go and drive this thing like aFerrari, all right.
So we can be, so we can besmart about that.
Speaker 3 (27:43):
And I want to say this and to say saving insurance
plans like the IULs and thewhole life insurance and
annuities are more than justpolicies.
Right, annuities are more thanjust policies.
They strategically empower moremoves towards a stable
financial future.
I want to say that.
So, whether you're justlearning about these tools or
(28:07):
thinking about how to implementthem, remember that changing
your mindset is the first stepto changing your financial path.
That's what's important.
Love it, brother.
So, I wanted to say that I evenwrote that down to make sure.
I said it because I thought thatwas very impactful.
(28:29):
Changing your mindset willchange your financial path, all
right.
So let's go to the breakdownreal quick.
All right, we're going go tothe breakdown real quick.
All right, we're going to startwith the literal, and the
literal is really really easy.
It's not hard, it's really easy.
The literal is something youcan touch tangible,
da-da-da-da-da.
The literal is and I'm going tostart it with the word three
(28:50):
times Benefit, benefit, benefit,benefit.
I said it three times Becausethere's three things you can
benefit from Cash accumulation.
The money's growing.
You can actually see it growing.
When you put in IUL, annuity ora whole lot, you can see the
money growing.
(29:10):
You can touch it.
Speaker 2 (29:12):
Right, I ain't going to tell you how many Mike got.
Hey, he can talk about this,shh shh talk about this.
Speaker 1 (29:18):
You got to go get that on the down low.
Speaker 3 (29:22):
But brother got some IULs Right.
Speaker 2 (29:24):
Right, he can talk about it Right, he ain't out
there barefoot.
Speaker 3 (29:28):
Listen, I can touch it Anyway.
And tax advantage, of course.
The tax advantage Can youimagine?
You know they are scenariowe're not going to go into now,
but people are living tax-freeand you're like wondering how
Guess what they got an IUL whosaid that.
And flexible accessibility.
(29:49):
You can actually access themoney, but you don't if you
don't need to, right, but youcan actually access the money.
But you don't if you don't needto, but you can actually access
the money.
So that's the literal, thething you could actually see,
touch and make happen.
It's good, it's good.
And then going into the mental.
The mental is financialconfidence.
Knowing that you have a policyaccumulating cash value creates
(30:14):
a sense of financial securitywhich changes how you think
about spending and saving,watching them.
Speaker 2 (30:23):
numbers goes up, it's nice.
Speaker 3 (30:25):
Can you imagine it does help Mentally.
You're like what I ain'ttouching that.
Speaker 2 (30:30):
When you get that statement hey, hey hey, mike,
you want to go there?
Speaker 3 (30:32):
Nah, I'm cool, I'm watching this account right here
, I.
Nah, I'm cool, I'm watchingthis account right here.
I'm watching statements rightnow.
Speaker 2 (30:38):
I'm watching this right here.
I'm at a statement party.
Speaker 3 (30:43):
Yo, that's not a bad idea.
I like that.
A statement party.
Yo, I like that.
Yo, I think Finance BrosNetwork is going to bring that
one day.
A statement party is going tobring that one day.
A statement party.
Everybody come in with theirbank statements or their index
universal life statement.
Speaker 1 (31:01):
That's your ticket.
Speaker 3 (31:03):
That's your ticket to get in Don't matter if you're
putting $10 in or $100 million.
I like that.
The statement party.
Yo DM us if you want us to dothat.
That would be something.
I like that, bro.
I like that Yo let's.
Speaker 2 (31:19):
This is why we correlate we get together.
Speaker 3 (31:22):
You know what I'm saying.
That's what's up brother.
Speaker 2 (31:24):
I love it brother.
Speaker 3 (31:25):
All right.
Speaker 1 (31:26):
All right.
Speaker 2 (31:26):
And, of course, the spiritual is having a peace of
mind.
That spiritual comfort ofknowing your loved ones will be
supported financially creates asense of fulfillment and calm.
That's what's up, boom, that'swhat's up?
Come to the statement party.
Speaker 3 (31:43):
Hey, you can't spare it If you could I really do?
Speaker 2 (31:46):
like that too, my, you're going to have a spiritual
fruition.
Speaker 3 (31:49):
If you come to the statement party you're going to
be like, huh, you did that,johnny, you party.
You're gonna be like, huh, youdid that, johnny, you did that,
james, you did that.
Speaker 2 (31:59):
Uh, lawanda, you did that, all right, I got you for
real and, bro, it's transparencytoo right, because everybody in
here is trying to see eachother win, right it's not about
me having more than you or whatyou got and what I got.
It's about all of us here orkind of in the same, on the same
page.
As far as trying to gosomewhere in the mindset that
we've learned can be included inthese types of strategies and
(32:19):
the way to get this.
Speaker 3 (32:20):
The way to get this money.
Man, how much peace of mindyou're gonna have when you see
it that happening and you can doit too.
Speaker 2 (32:28):
Bro, look for real, because you might be surprised
who you see that that might bejohnny, who you saw in, like we
said last episode, white t-shirtand jeans.
You didn't even know Johnny wasdoing it like that.
No wonder why Johnny don't goto the barbecues every weekend.
Go to every Niner game.
Johnny too busy stacking hismoney stacking his statement
party.
Speaker 3 (32:49):
He's bringing his party favors to the statement
party there it is, and this is asafe space.
Speaker 2 (32:55):
This is a safe space we can can all.
This is a safe space where wecan all reveal.
Speaker 3 (32:59):
I think we started something.
Speaker 2 (33:00):
I think we might have to.
I think we want to start it.
I sure hope so, man.
I think we're going to startsomething.
Speaker 3 (33:06):
We're going to start something.
All right, let me give him thet-shirt so we can get out of
here.
T-shirt is saving money.
It's like planting a tree itmight not give you shade today,
but tomorrow you'll be sittingunder it Drinking.
Speaker 2 (33:26):
So, remember you're getting creative with these
shirts, thank you, thank you.
Speaker 3 (33:30):
I can't wait till we have them on our website.
That is soon to come.
Soon to come, Ladies andgentlemen we're working hard on
it.
Speaker 2 (33:35):
that is soon to come.
Soon to come, ladies andgentlemen.
We're working hard on it.
Speaker 3 (33:37):
We're working hard on it.
So again the t-shirt, because Iknow we were making fun of it,
just so you can hear it againSaving money is like planting a
tree it might not give you shadetoday, but tomorrow you will be
sitting under it drinkingKool-Aid.
Speaker 1 (33:52):
Ain't that something, mike?
Speaker 3 (33:58):
I love Kool-Aid.
Ain't that something, mike?
I love Kool-Aid.
I love Kool-Aid too, oh man man.
Speaker 2 (34:00):
This was great.
This was a fun one man.
Hey, look y'all ladies andgentlemen, our wealthies out
there.
Make sure Now.
I know we know the holiday'scoming up, yeah, but we do have
an important public serviceannouncement to bring to y'all
next week.
So make sure y'all tune in.
You're not going to want tomiss this.
Right, right, right, yeah, wewant to do something.
Speaker 3 (34:18):
We're not going to go crazy on it.
Speaker 2 (34:20):
No, it's going to be short.
This is so important, this is alife-changing information.
Speaker 3 (34:24):
Yeah, Real talk, especially for our entrepreneurs
out there, people who are doingbusiness out there For sure,
people that we don, we don'twant, because when we heard
about this, we're like holysmoke, we have to say something.
Speaker 2 (34:36):
Yeah, I can't believe they.
I really.
Speaker 3 (34:38):
I told Maya, I said I can't believe they're doing
this, yeah, so stay tuned nextweek Listen we're not going to
take you away from Turkey toolong Gobble gobble, yeah, yeah.
Speaker 2 (34:48):
You know, you're going to have to.
Speaker 3 (34:50):
But maybe you and your family can sit, because you
don't know who else couldbenefit from this information.
This is going to be aannouncement and it's an
informational.
Obviously, we'll, we'll, we'llhave the breakdown and
everything with it but it'll beshort, quick.
Speaker 2 (35:04):
We just need you guys to get this information
absolutely, and y'all make sureyou, of course, check us out all
your social media podcastplatforms, apple podcast,
spotify our heart radio of atour home HHN-TV If you want to
see us on the video, we got theTV show, come check us out, show
your love, and obviously youalready know.
(35:25):
Mike, I appreciate you andwe'll see you at the bank.
Peace y'all, take care world.
Speaker 1 (36:05):
Thank you, thank you.
First and foremost we want to be clear that what we
are sharing with you arestrategies and concepts that can
be implemented by individualswho understand the logistics of
how to approach such platformsas far as the literal, the
(00:27):
mental and spiritual formatneeded to be successful with
your aspirations hey yo, what'sup world?
Speaker 2 (00:58):
you're tuning in to fbn and this is another episode
of finance bros network, and Iam the one half of finance anton
lefwich, and this is anotherepisode of Finance Bros Network
and I am the one half of financeAnton Lefwich and this is
Michael DePoe, the other half weare coming to.
Speaker 3 (01:13):
You live with finance for everyday people.
We are honored to be here andto be able to serve diverse
communities as usual.
Speaker 2 (01:29):
Hey, welcome everybody.
Look, today we're diving deepinto practical ways to shift
your mindset.
You guys already know we'rekind of focusing on the mental,
but we're also giving strategiesthis season to make sure we can
all go in with a confidentheart and be passionate in the
things that we're doing.
So we want to help practicalways to shift your mindset, and
we're also talking aboutsomething that often gets
(01:51):
overlooked in our UPIcommunities, like savings in
insurance plans, like indexuniversal life insurance, whole
life insurance and annuities.
These tools can be true gamechangers for us out here and
when it comes to saving andgrowing our money.
So we want to think of a nicetitle for it.
(02:12):
So we figured we call it AllAbout the Benjamins.
Baby, it's All About theBenjamins baby.
Speaker 3 (02:20):
Yeah, bud, that's what's up, man Todd.
Yeah, but that's what's up, manTodd.
You know these plans are notjust for life insurance.
They're financial vehicles thathelp you build savings while
protecting your families.
For example, an IUL lets youbuild cash value that grows, tax
(02:40):
deferred and it ties toperformance of a stock index, so
that that that helps you know,with, uh, the, the growth like
the s&p or something that weknow we see every day, right,
right and and whole lifeinsurers offers guarantees,
returns and annuities that canbe provided steady, that can
(03:03):
provide steady income as yourretirement.
So obviously, with annuities, ifyou put your and believe it or
not, annuities is a lifeinsurance product A lot of
people don't know that.
They are offered by lifeinsurance companies.
Right right, it's lifeinsurance company and I know
you're the subject matter experton this particular subject.
Speaker 2 (03:21):
I do deal with this a lot.
Yeah, you could definitely askme some questions Day in and day
out.
Speaker 3 (03:26):
So, ladies and gentlemen, whoever's hearing
this in the sound of my voice,dm, mr Anton.
He is a licensed insurancerepresentative pretty much for
almost all 50 states.
Speaker 2 (03:40):
Yeah, we up to 32 states right now 32 states.
Speaker 3 (03:43):
So if you're thinking about this, especially that
we're talking about it, you knowagain, we want you guys to get
the Benjamins, and this is whatwe're talking about.
We're talking about how to getthese Benjamins, how to save,
and that's what's important here.
We want to make sure that youhave the mindset as a wealthy
and to save, because lastepisode we asked you do you want
(04:07):
to be rich?
Do you want to be poor?
Do you want to be poor?
Yeah, do you want to get withthis or do you want to get with
that, or?
Speaker 2 (04:13):
stay with that.
Speaker 1 (04:13):
Or stay with that.
There you go.
That's right, that's right.
Thank you for backing me up.
Speaker 3 (04:26):
So, with that being said, we're going to continue
with a mindset of what we needto do for saving now.
Now you have actual savingsaccount.
Now savings account.
What does that bring us?
And we all know from our lapepisode.
What does that bring us, anton,what does a savings account
bring you?
How much can you actually makewith a savings?
Speaker 2 (04:39):
account.
Well, traditionally it'sprobably along the lines of 0.1
or 0.2% Very, very little 0.1points.
Speaker 3 (04:46):
So if I put $10,000 in a savings account at the end
of the year, what the bank isgoing to give me back?
Speaker 2 (04:54):
Shoot, well, 1% of $10,000, what would that be?
$100, right, right, so 0.1.
$1?
Speaker 1 (05:02):
There goes your dollar, oh God so what dollar
there goes, your dollar, so.
Speaker 2 (05:13):
So here we are.
I'm doing the math right.
So ten percent of ten thousandwill be a thousand right and
then one percent of that wouldbe a hundred so point zero, one
that'd be.
Speaker 3 (05:17):
That's a dollar yeah, yeah, that's that.
Well, it's a dollar on athousand, and 10,000 is going to
be $10, right?
Speaker 2 (05:26):
Is that right?
Well, if you're okay.
So 10% of a 10,000, that's athousand dollars.
Yeah, okay, but you want 1%.
Right, we want 0.10%, that's ahundred.
Speaker 3 (05:37):
That's a hundred dollars.
Oh, a hundred dollars.
So it's a hundred dollars for10,000.
I'm talking about 0.1%.
Speaker 2 (05:43):
Yes, yes, 0.1 of $100 is $1.
Speaker 3 (05:48):
Right, that's $100.
Okay, so if we put $10,000 inthat savings account, what?
Speaker 2 (05:53):
do we get?
Oh yeah, so then you have a $10.
Speaker 3 (05:55):
Yeah, yeah, congratulations, by the way $10
for the whole year and I know wespoke about this before, but
it's always good to reiteratehow much does the bank make on
your $10,000?
, how much they're allowed tomake on your $10,000?
Speaker 2 (06:14):
So there's something out there you guys might want to
research and I'll break thisdown to the very simple.
I know you know Mike loves thesimple, simplicity aspect.
So there's something out therecalled Bollies and Coley's.
It's called bank owned lifeinsurance and corporate owned or
company owned life insurance.
Look it up, it's publicinformation.
All right, the bank takes ourmoney and they invest into
(06:37):
insurance and they get eight, 12, 15 upwards of whatever percent
they make on our money.
Now, obviously banks don't keepour money in the bank.
We all know that.
Insurance companies, they don'tkeep our money in the insurance
company.
They invest in gold, silver,real estate, whatever it is they
invest in.
(06:57):
But the point is we'reessentially giving someone our
money to leverage, to do morewith, because if you have 100
million people putting theirmoney in one place, now, this
entity has leverage to use thatpool of money to get into the,
to get into investments that youor I would never see.
Right, right, okay, because theminimum, the, the barrier of
(07:18):
entry, is a billion dollars, andI mean how many people have
that to do that?
All right.
So essentially, what we'redoing by putting and I'm not
saying that banks is not a a badthing like keep whatever you
want to do, keep your money inthe bank.
You feel safe, that's fine.
You know what I mean.
You got the fdic, the federaldeposit insurance corporation,
250 000 by the way 250 000.
Okay, anything above that yeahso well, yeah, figure.
(07:42):
If you don't know what sol is,go figure it out exactly all
right, you're doing riskmanagement we talked about that
risk management, all right sojust know that we're giving
someone our money to essentiallyleverage, to do more with, and
then we're doing that for thesecurity to go back and say that
at the end of the month, whenit's time to pay rent, I can
take this money out.
(08:03):
It'll be there Period.
All right, there's nothing thatsays we can't reposition or
redirect where we keep thesefunds.
All right, understand, it's avery strategic way to do it.
It's a disciplined way to do it.
It's not always somethingyou're going to start today and
then use tomorrow.
Okay, there's four, there's afour wealth quadrants of legacy
(08:26):
building.
Okay, and I kind of go overthis with our clients, there's
the.
There's four phases of life.
Essentially, mike, you've gotthe accumulation phase, the
protection phase, thedistribution phase and the
transfer of wealth phase.
There you go, obviously, whenyou're young, that's the wealth
phase.
There you go, obviously, whenyou're young, that's the
accumulation phase.
You're trying to acquire asmuch money as we possibly can,
(08:51):
save up as much money as wepossibly can.
Get our money to work for us ashard as we possibly can.
All right, accumulating moneyAll right.
Essentially, when you're 16years old, you can legally
accumulate money, getting a job,whatever, all the way up to
where we're probably about inour 50s, we're going to start
thinking about retirement.
(09:11):
Some people think about it alot earlier if they're smart,
but not all of us do, becausenot all of us were taught that,
but just know that theaccumulation phase is the part
where we're trying to accumulateas much money as possible.
Eventually, though, we're goingto get into a phase where it's
time to protect our assets,protect our money.
We can't.
(09:31):
If you're 25 and you sufferedin 2008, you probably weren't as
worried as my parents were, whowere 55 in 2008,.
Right, because guess what?
They can't maybe suffer anothermarket down crash and then have
time to recover from that?
That's right, all right.
So understand that there areasset protection class products,
(09:53):
annuities being one of themthat can basically eliminate the
downside, so our money can goup, it can go sideways, it can
go down.
Basically, you can earnsomething, you can earn nothing,
or you can lose, right, allright.
So things like annuities and Iwon't go too deep down the
rabbit hole, but things likeannuities eliminate the downside
, okay, so now we're justfocused on making sure our money
(10:15):
accumulates as much as itpossibly can and the market goes
down.
The floor is zero and it neverloses money.
It's called insurance.
You get insurance on your house, you get insurance on your car.
You get insurance on your life.
You get insurance on your money.
It's very, very simple.
Don't let these videos out heremake it complicated.
That's just what.
It is All right.
(10:36):
So accumulation Accumulate asmuch money as you can Get into a
protection phase, get into anasset protection class product
that can protect your money,okay, at some point.
Then there's distribution when,obviously, distribute as much
money as we can out of thesevehicles as tax free as possible
.
There you go, uncle sam gonnaget his cut all right all day,
(10:56):
and we're not saying don't paytaxes, because everybody gotta
pay it.
What we're saying is how do wepay our fair share?
Right, okay, and eventuallywish I could say it was
something different, buteventually everybody's going to
go that way.
We're not going to be on thisplanet forever.
When you transfer, when youleave this earth and you have
your legacy, how do you transferthat wealth to your family,
(11:18):
again, as tax free as possible?
The reason why life insuranceis one of the most powerful
vehicles that people like theRockefellers, the Kennedys, the
Nikolai Teslas, all these richpeople are using in this world
is because life insurance is theone vehicle that utilizes all
(11:40):
four quadrants simultaneously.
All right, and that's as easyas I can break it down for you
to make you curious enough to atleast go do some research, do
some homework and make somephone calls.
All right, so you haveaccumulation, you have
protection, you havedistribution of wealth and you
have transfer of wealth.
Okay, you're accumulating moneywhere you can overfund your
(12:03):
plan.
Again, I said this in otherepisodes, we talked about this
on the TV show and we talkedabout this in season one.
It has to be properly structured, properly funded and given time
to mature.
Okay, you can fund thesevehicles in a way where it can
earn cash value and it canmirror.
It's not in the stock market,but it mirrors the stock market.
(12:24):
The reason why the insurancecompany has it mirror the stock
market is because it's somethingthat you know, insurance
company, I can expect you toexpect you to understand.
Or we're investing in gold,silver, real estate is how we
make your money.
We, we just we know that the SandP 500 went up 10% this year
and I got 8% of that.
Or if it went up 15% and I got12, I'm pretty happy about that,
(12:46):
that's right.
So it's going to mirror anindex.
That's why they call it IndexUniversal Life.
All right, but understand thatproperly funded, excuse me,
properly structured, properlyfunded and given time to mature,
all right.
So you'll look this up online.
You're going to see goodstories, success stories.
You're going to see horrorstories, because everybody's not
a good person in this industryand everybody's not doing the
(13:06):
right thing and everybody hasn'tbeen educated properly.
So make sure you get withsomebody who can trust, who
knows what they're doing.
All right, and I ain't tryingto be long-winded, mike, but I
can go about this.
I can go about.
I hear you, so I'm spittingfire for you right now and I
really just we hope ourwealthiness grab this stuff
because it's very important.
Okay, it's not all of yourportfolio, it's a part of your
(13:28):
portfolio, it is an aspect ofyour strategy to make sure you
understand, to have an expectedor a predictable outcome.
Okay, so understand that.
So remember the four wealthquadrants accumulation,
protection, distribution ofwealth and transfer of wealth.
And that's just one aspectright there.
(13:48):
There's a couple other things,too, you wanna keep in mind.
You know life insurance doeshave a dual purpose.
You know these plans provide,obviously, life insurance
protection while allowing forcash accumulation, giving you
peace of mind and savings ofgrowth.
Obviously, if something were tohappen to you, you want to make
sure your family's taken careof.
There's a death benefit and allthat stuff to pass along to
your family if something were toever happen to you.
(14:10):
I have a life insurance policyfor well.
I have life insurance policiesstrictly for the fact that, if
something were to happen to me,I just want to make sure my
mom's not going to be worse offthan she is right now.
My dad had life insurance.
My dad believed in lifeinsurance.
I saw what the other side waslike when my dad passed away.
My mom was grieving mentally,but not so much financially.
(14:31):
So obviously I've seen thisfirsthand and I deal with this
every day.
So obviously I'm not going tobe out here educating people
with no shoes on.
Speaker 3 (14:43):
So you know the other way to say that.
Speaker 2 (14:44):
All right, and there's tax advantages.
We didn't get in the weedsabout this, but the growth in
our IULs and life insurance istax deferred.
You can borrow from yourself.
Essentially, there's somethingcalled the volatility shield.
There's called the laser fund,which stands for liquid assets
safely returns.
There is they call it infinitebanking.
(15:04):
There's all kinds of differentFancy names to place over this
vehicle, but essentially what itis at the end of the day is
cash, value, life insurance and,yes, you can grow your money
inside of this vehicle.
Establish a family bankessentially quote, quote,
unquote and then borrow fromyourself tax-free because loans
(15:25):
are tax-free and take out a loanfrom your private family bank
and then use that to go dosomething strategic.
Okay, pay yourself back forcrying out loud.
Keep in mind, if it's a private, if it's a, the board here is a
bank Banks want to get theirmoney back, okay, so if you have
a private family bank, makesure your bank gets this money
(15:47):
back.
Yeah, obviously you're going tobe borrowing from yourself at a
much more reasonable interestrate than it would from a
traditional bank, but there arethings you have to make sure you
keep in mind.
Right, and we can, and weeducate people on this all the
time.
Speaker 3 (15:58):
So I'm going to, and you know what?
Speaker 2 (16:01):
I gave you a lot.
Speaker 3 (16:02):
Right now, mike, I know For the sea urchins that
are out there, people who likethat, the technical stuff.
You know they're like wow,anton, I appreciate you.
Speaker 2 (16:11):
You know for sure, for sure.
Speaker 3 (16:13):
So for the ones I'm going to make it you know me
simplifying everything Break itdown.
So, to keep it simple, justthink about it this way.
And then you got to get incontact with Anton if you want
this life insurance and want allthose scenarios that he spoke
about.
But think about it this way.
For the ones who thought thatoh okay, maybe he needs to say
(16:35):
it again.
Well, think about this thebanks, when they have your money
, money they're allowed to use10 times of that money.
That's right.
So remember, we spoke aboutputting a savings in for 10 000
and they're giving you back onepercent yeah, oh sorry, 0.01 or
0.1 right 0.1.
(16:57):
So they are putting that moneyinto a life insurance company
and making all that money andgiving you 1%, that's 0.1%.
That's how they make theirmoney.
They put it in an index,universal life, they put it in
other type of investment andmake all this money on this debt
(17:18):
, that 10,000.
And the government allows themto use 10 times the value of
that 10,000.
The government says, okay, youhave 10,000.
You can, you could spend ahundred thousand.
Say what, yep, yeah, they were,but the insurance company is
the reverse.
Speaker 2 (17:36):
They have to have three to $5 in reserve Right For
every dollar they lend out.
So right for every dollar theylend out so so for every dollar
that they operate with rightbasically so why not us mimic
that scenario?
Speaker 3 (17:49):
that's all I'm saying .
If, if the insurance is allowedto only use five percent and
still make money on your money,why can't we do the same?
So, so why not join theinsurance money?
That's why the insurance money,the insurance companies, have
more money than the banks, right, because they're not allowed to
(18:14):
invest in risk.
Because the whole point of thegovernment say if you're an
insurance company, if somethinggoes wrong, you need to be able
to pay people.
Speaker 2 (18:19):
Mike, it's called Federal Deposit Insurance.
Speaker 3 (18:21):
Corporation.
There you go.
Speaker 2 (18:23):
FDIC.
There you go.
Banks operate the way theyoperate with the aspect of
insurance is lacking.
Speaker 3 (18:31):
So all that being said is think about it.
You put your money in a bankaccount.
It's not doing nothing for you,but you put your money in a
savings.
That's like an insurance, likewe spoke about the IUL, the
whole life insurance or theannuity.
Now the money's working for you, it's growing and that's what's
(18:52):
important.
And mentally, anton wealthyshould shift from a get money
and spend money mindset to onefocus on making and growing
money.
That's what we were justtalking about.
Growing your money involves inrecognizing money as a tool that
works for you, not just forsomething you work for.
(19:14):
The growth mindset is built onthe idea that waiting for a
long-term payoff can be morebeneficial than instant spending
.
Knowing mentally or mentalshift towards using tools like
(19:35):
IUL encourage you to planfinancially.
You to plan financially, thinkahead and focus on growth
instead of just meeting today'sneeds, which a lot of our UPIs
are doing.
Speaker 2 (19:48):
Right, and this is, this is the thing that really
and with that, mike, I love thatyou brought that up, because or
that you're emphasizing that,because these are things that we
put in place essentially tocreate some accountability for
ourselves.
Right, having these types ofaccounts does require some
discipline.
Speaker 1 (20:06):
All right.
Speaker 2 (20:07):
So if we set a plan, when we set up these, when we
structure these plans, they'restructured with a promise,
essentially Right From theinsurance company and from the
person that is actually gettingthe plan.
So if it's a setting that youdecide to put in place for
yourself whether that's $100 amonth or $500 a month, wherever
(20:29):
you're at in life, you know whatI mean You're setting this up
for a long period of time.
It's the long game, it's notthe short game.
Speaker 3 (20:36):
Exactly, and it's a way of self-discipline.
Yeah, you understand, they aresupporting your self-discipline.
Saving in this manner whetheryou choose an IUL, whole life
insurance or annuity, saving inthat manner is a way of
supporting your self-discipline.
Because it's hard, guys, it'shard out there.
(20:57):
And you got remember, I think,one episode we spoke about you
know, johnny coming over, can Iborrow?
Or your brother asking, can Iborrow this money?
If you're putting your money ina savings that is hard to get
access to, right, right, or yourgame plans, long-term, you just
say what?
I don't have the money?
(21:17):
Yep, I don't have the money.
And that allows our UPIs outthere, that discipline, because
a lot of them they have it inthe savings how fast you can go
to the bank and take out thatmoney In a heartbeat.
In a heartbeat but let's say,with an IUL, you got to request
(21:38):
it.
Yeah, you got to put in arequest, fill out a form.
Speaker 2 (21:40):
Fill out a form.
You're borrowing money fromyourself.
Speaker 3 (21:42):
You're borrowing your money from yourself, but it's a
process, yeah yeah, and youknow what that gives you.
I guess I'm going to createthis word buyer's a borrower's
remorse.
Speaker 2 (21:54):
Borrower's remorse.
Borrower's remorse Some of usneed that safety net in there to
make our money not soaccessible.
Speaker 3 (22:02):
Think about it for a minute.
So it's asking you for thismoney.
You got to go through thiswhole process to get this money.
Hmm, should I really give himthat money or should I give her
that money?
So this again it's an emotionalthing, right, it's an emotional
thing and you have to say toyourself this is what I'm doing
(22:24):
to grow, this is what I'm doingfor the long term, this is what
I'm doing to benefit myself inthe future.
So if it's less accessible,then it's better and it's more
beneficial, because we're notmaking 0.01%.
We're talking about a growth.
Up to some IULs could probablygo up to what?
(22:46):
16%, 16%.
Speaker 2 (22:51):
There's no limit really on.
There used to be these thingscalled caps.
Nowadays insurance has evolvedand there's things these called
participation rates.
So some accounts, if you get agood company, can have 120%
participation, 130%participation.
(23:11):
You know it just depends.
So I mean essentially,essentially, if the market went
up 10% and you get a hundred andthirty percent participation
rate, you just got 13%.
But but before you get all,before somebody out here get
what do you call itcontroversial?
Remember what I told you, whatinsurance companies, just like
(23:32):
the bank, your money don't staythere.
Insurance companies take ourmoney.
They invest in in gold, silver,real estate.
Trust me, trust me, if you hada good year, they had a great
one, all right.
Speaker 3 (23:46):
They had no, not even great.
They had a phenomenal.
Speaker 2 (23:52):
They had a phenomenal year.
They could pay our little 13%.
Trust me, they're not worried,all right so and all this.
This also too mike now and and Iwant to just emphasize quickly
before we go into the breakdown,that because we can cover this,
like I said, we can just gointo this and really, really
deep down a rabbit hole, but wewant to give you guys a very
(24:12):
specific baseline and justsomething to be encouraged and
curious and look further.
Do your homework, reach out tous, go to Google, whatever you
do.
But you have to believe moneyhas meaning beyond just bills
and expenses.
For many, making and growingmoney represents creating a
legacy or securing peace of mindfor loved ones.
(24:33):
All right, this is wheresavings and insurance carries
spiritual weight and also ourUPI status.
Wealthians who are trying toget to that privilege status can
see their money grow inpolicies or financial
instruments or vehicles thatbenefit you and their family.
Fosters a sense of benefitingyou and your family.
(24:55):
Fosters a sense ofresponsibility.
Benefiting you and your familyfosters a sense of
responsibility like we spokeabout, and pride in how you
manage your resources, kind oflike a stewardship.
Oh, new word alert Astewardship.
Speaker 3 (25:07):
Stewardship.
What does that mean?
Speaker 2 (25:09):
Anton.
Yeah, we're making you go backto Webster again but, you know
we got you back.
So look, it means word for wordspecifically, if you look this
up, it means stewardship, meansthe careful and responsible
management of somethingentrusted to one's care.
Speaker 3 (25:24):
Wow, that's awesome.
That's awesome.
So think about that and that'sa good way to look at things.
You know your stewardship.
You're a stewardship.
You're responsible.
So, the money you're making nowwhether it be your wife or, ie,
your husband you know your kids.
You're responsible.
(25:45):
You're that stewardship.
So, if you're a woman, you'remaking great money for your
family.
You're that stewardship.
What are you going to do withall that money?
Are you going to spend it onfrivolous things?
Right?
If you're a man, same thing.
Are you going to spend it onfrivolous things?
(26:06):
You're that stewardship.
Yeah, Make sure you're lookingat the right things to put that
money in to protect and helpyour family, Because you're
responsible for it, Right?
Speaker 2 (26:22):
Amen to that.
And you know, I want to realquick, I want to just we're
going to get into the breakdown.
Speaker 1 (26:27):
We got to go.
Speaker 2 (26:27):
We got to go, but real quick.
There's a question that I putout there in season one and I
asked you this Mike, we wereactually on a podcast.
I asked you this has beenrecorded?
I said what if there was anaccount out there?
I told you that you could putmoney into earn interest.
(26:47):
Something happened to you.
Your family would get a lumpsum of money.
But, as you go out on in life.
You could actually borrow fromthis account tax-free, but the
principal would actuallycontinue to grow and earn money
as if it's never been touchedand I'll go back to what I said
before.
Speaker 3 (27:04):
Where do I sign up?
Speaker 2 (27:08):
So that that is an aspect of cash value life
insurance infinite bankingvolatility, whatever they call
it out there.
But that is an aspect of that.
And just let's be mindful,let's be smart.
Okay, don't follow the carrot.
The shiny thing, understand,properly structured, properly
(27:29):
funded, given time to mature,all right.
So, there's a strategy behindit.
There's some sense behind howto make this thing.
Go and drive this thing like aFerrari, all right.
So we can be, so we can besmart about that.
Speaker 3 (27:43):
And I want to say this and to say saving insurance
plans like the IULs and thewhole life insurance and
annuities are more than justpolicies.
Right, annuities are more thanjust policies.
They strategically empower moremoves towards a stable
financial future.
I want to say that.
So, whether you're justlearning about these tools or
(28:07):
thinking about how to implementthem, remember that changing
your mindset is the first stepto changing your financial path.
That's what's important.
Love it, brother.
So, I wanted to say that I evenwrote that down to make sure.
I said it because I thought thatwas very impactful.
(28:29):
Changing your mindset willchange your financial path, all
right.
So let's go to the breakdownreal quick.
All right, we're going go tothe breakdown real quick.
All right, we're going to startwith the literal, and the
literal is really really easy.
It's not hard, it's really easy.
The literal is something youcan touch tangible,
da-da-da-da-da.
The literal is and I'm going tostart it with the word three
(28:50):
times Benefit, benefit, benefit,benefit.
I said it three times Becausethere's three things you can
benefit from Cash accumulation.
The money's growing.
You can actually see it growing.
When you put in IUL, annuity ora whole lot, you can see the
money growing.
(29:10):
You can touch it.
Speaker 2 (29:12):
Right, I ain't going to tell you how many Mike got.
Hey, he can talk about this,shh shh talk about this.
Speaker 1 (29:18):
You got to go get that on the down low.
Speaker 3 (29:22):
But brother got some IULs Right.
Speaker 2 (29:24):
Right, he can talk about it Right, he ain't out
there barefoot.
Speaker 3 (29:28):
Listen, I can touch it Anyway.
And tax advantage, of course.
The tax advantage Can youimagine?
You know they are scenariowe're not going to go into now,
but people are living tax-freeand you're like wondering how
Guess what they got an IUL whosaid that.
And flexible accessibility.
(29:49):
You can actually access themoney, but you don't if you
don't need to, right, but youcan actually access the money.
But you don't if you don't needto, but you can actually access
the money.
So that's the literal, thething you could actually see,
touch and make happen.
It's good, it's good.
And then going into the mental.
The mental is financialconfidence.
Knowing that you have a policyaccumulating cash value creates
(30:14):
a sense of financial securitywhich changes how you think
about spending and saving,watching them.
Speaker 2 (30:23):
numbers goes up, it's nice.
Speaker 3 (30:25):
Can you imagine it does help Mentally.
You're like what I ain'ttouching that.
Speaker 2 (30:30):
When you get that statement hey, hey hey, mike,
you want to go there?
Speaker 3 (30:32):
Nah, I'm cool, I'm watching this account right here
, I.
Nah, I'm cool, I'm watchingthis account right here.
I'm watching statements rightnow.
Speaker 2 (30:38):
I'm watching this right here.
I'm at a statement party.
Speaker 3 (30:43):
Yo, that's not a bad idea.
I like that.
A statement party.
Yo, I like that.
Yo, I think Finance BrosNetwork is going to bring that
one day.
A statement party is going tobring that one day.
A statement party.
Everybody come in with theirbank statements or their index
universal life statement.
Speaker 1 (31:01):
That's your ticket.
Speaker 3 (31:03):
That's your ticket to get in Don't matter if you're
putting $10 in or $100 million.
I like that.
The statement party.
Yo DM us if you want us to dothat.
That would be something.
I like that, bro.
I like that Yo let's.
Speaker 2 (31:19):
This is why we correlate we get together.
Speaker 3 (31:22):
You know what I'm saying.
That's what's up brother.
Speaker 2 (31:24):
I love it brother.
Speaker 3 (31:25):
All right.
Speaker 1 (31:26):
All right.
Speaker 2 (31:26):
And, of course, the spiritual is having a peace of
mind.
That spiritual comfort ofknowing your loved ones will be
supported financially creates asense of fulfillment and calm.
That's what's up, boom, that'swhat's up?
Come to the statement party.
Speaker 3 (31:43):
Hey, you can't spare it If you could I really do?
Speaker 2 (31:46):
like that too, my, you're going to have a spiritual
fruition.
Speaker 3 (31:49):
If you come to the statement party you're going to
be like, huh, you did that,johnny, you party.
You're gonna be like, huh, youdid that, johnny, you did that,
james, you did that.
Speaker 2 (31:59):
Uh, lawanda, you did that, all right, I got you for
real and, bro, it's transparencytoo right, because everybody in
here is trying to see eachother win, right it's not about
me having more than you or whatyou got and what I got.
It's about all of us here orkind of in the same, on the same
page.
As far as trying to gosomewhere in the mindset that
we've learned can be included inthese types of strategies and
(32:19):
the way to get this.
Speaker 3 (32:20):
The way to get this money.
Man, how much peace of mindyou're gonna have when you see
it that happening and you can doit too.
Speaker 2 (32:28):
Bro, look for real, because you might be surprised
who you see that that might bejohnny, who you saw in, like we
said last episode, white t-shirtand jeans.
You didn't even know Johnny wasdoing it like that.
No wonder why Johnny don't goto the barbecues every weekend.
Go to every Niner game.
Johnny too busy stacking hismoney stacking his statement
party.
Speaker 3 (32:49):
He's bringing his party favors to the statement
party there it is, and this is asafe space.
Speaker 2 (32:55):
This is a safe space we can can all.
This is a safe space where wecan all reveal.
Speaker 3 (32:59):
I think we started something.
Speaker 2 (33:00):
I think we might have to.
I think we want to start it.
I sure hope so, man.
I think we're going to startsomething.
Speaker 3 (33:06):
We're going to start something.
All right, let me give him thet-shirt so we can get out of
here.
T-shirt is saving money.
It's like planting a tree itmight not give you shade today,
but tomorrow you'll be sittingunder it Drinking.
Speaker 2 (33:26):
So, remember you're getting creative with these
shirts, thank you, thank you.
Speaker 3 (33:30):
I can't wait till we have them on our website.
That is soon to come.
Soon to come, Ladies andgentlemen we're working hard on
it.
Speaker 2 (33:35):
that is soon to come.
Soon to come, ladies andgentlemen.
We're working hard on it.
Speaker 3 (33:37):
We're working hard on it.
So again the t-shirt, because Iknow we were making fun of it,
just so you can hear it againSaving money is like planting a
tree it might not give you shadetoday, but tomorrow you will be
sitting under it drinkingKool-Aid.
Speaker 1 (33:52):
Ain't that something, mike?
Speaker 3 (33:58):
I love Kool-Aid.
Ain't that something, mike?
I love Kool-Aid.
I love Kool-Aid too, oh man man.
Speaker 2 (34:00):
This was great.
This was a fun one man.
Hey, look y'all ladies andgentlemen, our wealthies out
there.
Make sure Now.
I know we know the holiday'scoming up, yeah, but we do have
an important public serviceannouncement to bring to y'all
next week.
So make sure y'all tune in.
You're not going to want tomiss this.
Right, right, right, yeah, wewant to do something.
Speaker 3 (34:18):
We're not going to go crazy on it.
Speaker 2 (34:20):
No, it's going to be short.
This is so important, this is alife-changing information.
Speaker 3 (34:24):
Yeah, Real talk, especially for our entrepreneurs
out there, people who are doingbusiness out there For sure,
people that we don, we don'twant, because when we heard
about this, we're like holysmoke, we have to say something.
Speaker 2 (34:36):
Yeah, I can't believe they.
I really.
Speaker 3 (34:38):
I told Maya, I said I can't believe they're doing
this, yeah, so stay tuned nextweek Listen we're not going to
take you away from Turkey toolong Gobble gobble, yeah, yeah.
Speaker 2 (34:48):
You know, you're going to have to.
Speaker 3 (34:50):
But maybe you and your family can sit, because you
don't know who else couldbenefit from this information.
This is going to be aannouncement and it's an
informational.
Obviously, we'll, we'll, we'llhave the breakdown and
everything with it but it'll beshort, quick.
Speaker 2 (35:04):
We just need you guys to get this information
absolutely, and y'all make sureyou, of course, check us out all
your social media podcastplatforms, apple podcast,
spotify our heart radio of atour home HHN-TV If you want to
see us on the video, we got theTV show, come check us out, show
your love, and obviously youalready know.
(35:25):
Mike, I appreciate you andwe'll see you at the bank.
Peace y'all, take care world.
Speaker 1 (36:05):
Thank you, thank you.
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