December 8, 2022 • 26 mins
Text your grey haired host for a shout out on an upcoming show!
If you have not heard the term Bank on Yourself lately, odds are you will be hearing more about it in the very near future. While there is renewed interest in the financial actions leading to the Bank on Yourself practice, the practice itself is tried and true with proven results.
The Great American Senior Show's grey-haired host, Sam Yates, caught up with one of the leading experts in Bank on Yourself and Infinite Banking, Sarry Ibrahim, to get the inside story on why this fine-tuned financial practice is gaining a powerful following with seniors and others looking for financial stability in our uncertain financial times.
The Great American Senior Show podcast is produced by Yates & Associates, Public Relations & Marketing. This podcast is part of the network of podcasts streaming under the umbrella of the Pod National News Network. For more information about Yates & Associates or the Pod National News Network, contact Sam Yates at (772) 528-5185 or Sam@Yatespro.com. Sponsorship opportunities are available. The Great American Senior Show is ranked 3rd Best in Senior Podcasts to Follow for 2023 in all podcasts for seniors in a comprehensive survey by feedspot.
30 Best Senior Podcasts You Must Follow in 2023 (feedspot.com)
Yates & Associates is a full-service Public Relations and Marketing company serving select clients throughout the United States and abroad. For more information visit www.YatesPRO.com .
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Sam Yates (00:11):
Hello, everyone, and welcome to another exciting
edition of The Great AmericanSenior Show. I'm your grey
haired host, Sam Yates. Andtoday, we're going to talk about
something that you can take tothe bank. Well, let me rephrase
that a little bit. When I sayrephrase, and bank, there's some
key words there. When I amlistening to podcasts, and I
listen to podcasts, from allover the country, or I hear
(00:34):
something from one of thecompanies that would like a
guest to appear on my program, Ilistened very intensely to see
if there is something that jumpsout and would make our guest on
The Great American Senior showand the other podcast that we do
pay attention. And that phrase,bank on yourself was something
(00:55):
that caught my attention. So Ihave the expert to talk about
that topic and a few otherthings with me today. Sarry
Ibrahim. Sarry, welcome to theprogram. Before we get into
banking on yourself, tell usabout yourself.
Sarry Ibrahim (01:13):
Hi, Sam, thank you so much for having me on. I
appreciate it. It's a pleasureto be here and speak to you in
the audience today. So a littlebit about me, I'm from Chicago,
Illinois, born and raised here.
And I run a company calledfinancial asset protection. So
we're a full service financialservices firm, we help clients
in all 50 states, we even dosome international things. With
financial planning, we try totake the role more as like a
(01:33):
financial coach, in that we workwith clients of all backgrounds
and try to help them reach theirfinancial goals, whatever those
goals might be. I've been inthis in this industry for about
seven years now. And love it, Idefinitely see myself in this
long term. And we also have apodcast called thinking like a
bank to the podcast, as you canprobably tell from it. It's a
financial podcast, a financialliteracy podcast, that shows
(01:55):
people how to think like a bank.
And that's kind of the brandwe're trying to build is the
thinking like a bank brand, andshowing people how to not just
think like retail consumers orretail investors, but to really
take the thinking of a bank.
Sam Yates (02:10):
I think that is a concept that is really coming to
the forefront now. But it is aconcept that also has been
around a while.
Sarry Ibrahim (02:20):
Absolutely, yeah, it's been around actually,
probably for over 100 years. Soit's something that we didn't
invent this right, this has beenaround for a really long time.
It just became more popularrecently with podcasting, and
books and Amazon and things likethat. And information being more
easily accessible. Nowadays,it's been becoming more of a
relevant topic. People usuallyknow it as infinite banking or
(02:41):
the bank on yourself concept. Soreally, I would say the first
introduction to it was in thebook becoming your own banker by
Nelson Nash. So Nelson Nashwrote the book, becoming your
own banker, and he talks aboutthe strategy of using the
vehicle we're going to talkabout, as far as becoming your
own source of financing, growingyour business, investing in real
estate, kind of taking controlof your financial world, and not
(03:04):
just leaving it up to the banks.
Sam Yates (03:06):
And I think that is something that's going to really
capture the attention of ouraudience. So before I forget,
How may people get in touch withyou? Because they're going to be
jotting down some notes. And ifwe don't let them know, now, we
might, we might lose them alittle later on the program. How
can they get in touch with you?
Sarry Ibrahim (03:21):
Yeah, easiest way thinking like a bank.com.
Thinking like a bank.com.
Sam Yates (03:27):
And being in Chicago, you're on Central time, but they
can reach out and schedule ameeting or an appointment with
you pretty much anytime.
Sarry Ibrahim (03:36):
Yeah, anytime they can reach out schedule an
appointment, they can send me anemail, connect with me on
LinkedIn, all of that as Senatorthrough thinking like a
bank.com.
Sam Yates (03:46):
Who's your audience, when we talk about anything
financial, no matter what you'redoing? You have an audience. So
who's your target audience,
Sarry Ibrahim (03:54):
your target audience? Good question. It's
business owners and real estateinvestors, I guess every real
estate investors in essence ofbusiness owner as well. So
looking for real estate,investors, business owners, and
also full time employees whowant to venture off they want to
kind of create their ownretirement plan, not just rely
on their company, 401 k plan ortheir company, 403 big plan, but
(04:15):
somebody who really wants tokind of step outside the
parameters of the corporate lifeand really want to look at
passive income and wealthaccumulation outside of their
job.
Sam Yates (04:25):
As you say that, it sounds like you're also
advocating that people don'tnecessarily go to the bank and
get caught up in. I like to callit banking chaos. Yeah.
Sarry Ibrahim (04:39):
Yeah, absolutely.
Yeah. Bank something for themost part tend to be helpful,
right? It's convenient. Youcould go somewhere, put your
money somewhere. And then whenyou want to access that you
could write a check. You can gothere, you can withdraw money.
It's convenient, I get it. Butthere are certain things that
banks do that I'm not really Idon't really like for example,
you go to the bank, you depositlet's just say $1,000 in it. A
bank account, and then they turnaround and then they loan that
(05:02):
out to other people throughcredit cards and all types of
interest loans, high interestloans, and you get nothing for
usually checking accounts willgive you anything, right. And
then even savings accounts are,you know, a fraction of a
percent. I work with a lot of mya lot of my clients are Medicare
beneficiaries, they haveMedicare, and one of my clients
is, like 75 years old, and hetold me he's like, you know,
(05:25):
he's like, the world isdifferent. Now. He's like, when
in 1980, I used to make 25%interest on on one of my CDs.
And I'm like, yeah, that thosedays don't exist anymore. So
there's been a lot of shiftingas far as it's not, it's almost
like it's not a it's not fear ityou know, the way we put money
in the bank, and then what banksdo with money. So I want to kind
of revolutionize that change,though, in the sense where we
(05:48):
could do a little bit more now,we'll still need banks, right?
We'll still need banks totransfer money and use debit
card and credit cards and thingslike that. But as far as who,
where the interest goes, weshould refund all that back into
our pocket, we become our ownsource of finance, and we become
our own bank, in essence. Yep.
Sam Yates (06:07):
And I'm glad that you narrowed it down into the
banking community, don't get mestarted on the stocks and bonds
traders that use your money andthat were those there's, there's
a whole different ballgame ofwhere your money goes then and
how it's being used before it isback in your control. But when
we talk about growing yourassets, you know, I run into a
(06:30):
lot of seniors that they're verytight lipped about talking about
their assets. Is that somethingthat you recommend that we keep
a tight lip on? What we aredoing with our assets? Yeah,
it's
Sarry Ibrahim (06:45):
a good question.
So I think a lot of people areworried about people suing them,
right. And people finding outthe type of assets you own,
because a lot of people mighthave like investment properties,
or businesses or stocks orbonds, or any type of asset,
either tangible or financial, orany type of asset, they'll
usually have them in, if they'vedone a good asset protection
(07:06):
plan. And like LLCs, and trustsand things like that, not
necessarily in their name. Sowhen they tell people what those
trusts are cold, or what thoseLLCs are called, they kind of
gives away, it kind of defeatsthe purpose of, of doing that
whole asset protection plan. Andif you're already has done this
already reaching out toattorneys and do asset
protection and estate planning,they're really expensive. They
(07:29):
charge a lot of money, becauseit's a very complex thing, it's
a very labor intensive thing todo. It requires a lot of hours
of research. And so that's alsoa very niche part of the law.
Right? It's not like anyattorney down the street from
you can just do all these typesof things. It's like a
specialist. So when peopleinvest in these, they kind of
want to keep it that way. Sothey don't defeat the purpose of
(07:51):
telling people the names or theLLC is the names of their trusts
and, and things like that. Soit's definitely an asset
protection mechanism for sure.
Sam Yates (08:00):
And the reason I mentioned that is because I'm
headquartered in Florida, buthere in Florida, we do have
certain asset protections inplace through our homestead
exemptions and other things thatcan have your home can't be
touched. Well, technically, itcan. But those are some very
important things that we see.
And I think an enormous amountof LLCs in Florida, perhaps is
(08:21):
compared to other states. Yeah.
How it probably for that verysame reason.
Sarry Ibrahim (08:28):
Yeah, absolutely.
Yeah, for sure. Florida, I thinkis arguably the best state in
the country. As far as assetprotection and the home, the
home set one being the best one.
This is why you hear aboutcelebrities who build $50
million mansions in Florida,it's it's entirely for the most
part, it's all protected. I'mnot an attorney, so don't quote
me on this, but it's it for themost part it is it's the best
(08:50):
state for asset protection,pensions, annuities, cash value,
whole life insurance, all thesethings are protected in the
state of Florida. And then alsothat's the reason why there's a
lot of companies located inFlorida, I think second to
Florida maybe is Delaware.
Right. So double a Delawarecorporation is usually has a lot
of high asset protection. But asfar as real estate goes, and the
reason why a lot of companiesare located in Florida other
(09:12):
than the fact to there's nostate, I think there's no state
income tax right in Florida.
That also makes a big differencetoo. So one thing I've noticed
when it comes to proper filingfinancial planning and financial
strategies is the connectionbetween asset protection, taxes
and the ability to grow wealth,regardless of the market. And so
(09:32):
those kind of all three of thosethings kind of intertwine
together. So, usually, it's notlike you take care of one only
it's usually like you're tryingto take care of all those
things. You're trying tomitigate taxes, protect your
assets from creditors and otherrisks and grow your money
regardless of how the marketdoes not just have to rely on
how the stock market does.
Sam Yates (09:52):
When we think about growing our money, when we grow
anything, it takes a tool or aset of tools So what are the
tools that go into play withwhat you're talking about? What
are your giftings?
Sarry Ibrahim (10:07):
Yeah, good question. Yes. So there's a lot
of tools, right? So look at thepeople that who is number one at
the top of it. So the who you'reworking with, I'd want to have
everyone out there a CPA, rightand accountant, at one attorney,
maybe a few attorneys thatspecialize in different things.
Like I, we just talked abouttrusts and asset protection. And
then as well as like corporatethings, if you own businesses,
(10:28):
and you're selling businessesand things like that. And then
also like a financial advisor,financial planner, or financial
coach, somebody kind of steppingoutside of what the accounting
and the what the lawyers becauselawyers and accountants, for the
most part, they might knoweverything about a retirement
plan, but not necessarily how torecommend it to you. That's not
necessarily their job. They knowthe technical parts of it. But
as far as recommending it toyou, it's kind of outside
(10:50):
usually outside of the scopeunless they have training in
that area as well. So I'd wantthe WHO up there to be the top
of it, right. And then afterthat, you know, there's all
types of vehicles right, likeone of the strategies, we use
the bank on yourself strategy,that's a that's a tool we use,
in that it uses cash value wholelife insurance to do a lot of
things like protecting yourassets, and growing your money
tax tax free. And so there'ssome situations, and I think
(11:13):
that's the way you position thequestion is really good, because
it's, that's all it's about.
It's about the tools, notnecessarily what the product is
called. I think a lot of peopleget caught up on that, like, I
don't want to do a whole lifeinsurance because this person
said whole life insurance is notgood. When we're too caught up
on the title of it. What we needto do is we need to understand
the function and what does itdo? What how does it help you?
How does it play out? So the whoand the tools you're using?
(11:34):
Absolutely, along with the wholelife insurance? Well, I would
also highly recommend some realestate in their portfolio and
understanding how real estateboth from the active inside
active investing side as well asthe passive investing side and
that can get into further thanthat if you'd like.
Sam Yates (11:52):
Well, I think one of the things to reflect on about
real estate is right now, wehave seen some significant
pendulum swings in the world ofreal estate, Florida somewhat
protected. And I'm speaking alittle bit from a background of
being in many industries,including the building industry,
(12:13):
that Florida's splurt is stilldoing well. But there are some
areas some states that that realestate market has absolutely
come around to bite them rightin the wallet.
Sarry Ibrahim (12:25):
Yeah, 100%. Yeah, that's right. So I think the
biggest downfall to real estaterecently, over the last, I would
say three or four months, and2022 has just been the interest
rates have gone up dramatically.
I bought a house. Last year, ourinterest rates like everybody
else at that time were lowthrees. Now I passed by a
billboard on the highway, it wasx 7.5%. So that big jump in the
in the interest rates, thatcould lead to an extra 600 to
(12:49):
$800 a month and principal andinterest and interest payments
only on your on your house. Sothat's going to deter a lot of
people from buying because it'stoo expensive to borrow money.
Plus, even more importantly, alot of people can't qualify now,
because as interest rates go up,the bar is raised now to
qualify. And a lot of people whobuy houses are barely able to
(13:11):
they're coming up with thedownpayment, they're maximizing
the downpayment, they'remaximizing the monthly payments,
they're working with theirlender to, you know, pay off
credit cards refinance certainthings to really get by. So when
interest rates go up, it makesit even harder. But but that's
in the residential mortgagearea, I still think there's a
whole nother world out there.
(13:34):
And that's a commercial realestate. I think like for
example, multifamily housing,where you have like 100 unit
buildings, 200 unit buildings, Ithink that there's been an
increase in those types ofproperties, because the demand
for rent has gone updramatically. Like, you probably
talked a lot of people who can'teven find a place to rent
nowadays, like When has thatever existed where you can't
even find like, even if you wantit to rent somewhere, you can't
(13:55):
even find that because of thedemand for rentals going up. So
from an investment standpoint, Ithink that still stands to be a
good investment. I wouldn't buylike, you know, residential to
live in right now. It's probablynot that best, the best time for
that. But as far as investinginto multifamily housing and
other asset classes, if anythingis on the rise, even through a
(14:16):
high interest environment. And I
Sam Yates (14:19):
think even in your particular area, I can think
back to the days of the CabriniGreen redevelopment and some of
the infield growth. One of myfriends is pretty high up in the
Masonic lodge there in Chicago,and one of their greatest
decisions that it was a gravedecision not just great was
Where are we as Mason's going toinvest our money now that
(14:43):
Chicago is seeing such a massiveamount of growth in particular,
that multifamily multifamilysector so I think you're right
on right on target, but a momentago you were talking about
whether or not you shouldconsider being active or passive
in So with that respectexplained a little bit.
Sarry Ibrahim (15:02):
Yeah, absolutely.
So a lot of people when theythink of real estate, or they
think of starting a business,they think of an active
engagement, right? Like, you'regonna find the property, you're
gonna find you're going tocreate the LLC, you're going to
find the the contractors, andthere's nothing wrong with that,
there's all that's obviously avery lucrative thing to do, if
you know what you're doing. Butwhat about the people who don't
have time for that, you don'thave time to go out there and
real estate, you can get intoreal estate, from a passive
(15:24):
perspective, this is where theonly thing you're responsible
for is your share of the of thefund or your share of your
investment you get that you'regonna allocate, and then
agreeing to the terms andconditions of that deal. That's
really all you have to do to bea passive investor, you want to
do research, you want to consultwith your attorney or accountant
or financial adviser, you wantto make sure it's a good fit for
you. But really, you're notresponsible for anything in the
(15:44):
day to day operations, you'relimited in the set, it's called
also limited partners. So you'relimited in the sense of your
liability, and limited in thesense of the decisions you have
to make, you actually don't haveto make any decisions at all,
for the most part, for the mostpart, being a limited partner.
And I think that's reallyimportant because we get caught
up in this world of, you know,entrepreneurship, where we're
trying to build businesses andinvest money. But we have to
(16:05):
differentiate the active sidefrom the passive side, because
what's the point of owning morebusinesses owning more real
estate, if you're just buildingup more, you're you're taking up
more of your time, it kind ofdefeats the purpose of having a
good standard of living having ahappy life, if you're constantly
working, I think we need totransition where we need to take
the money that we're making, andfrom our previous days, and then
(16:27):
push that into vehicles andthings that will pay us forward,
that will we can sustain ourliving our income, even increase
our income to keep up withstandard of living to keep up
with inflation and taxes andthings like that, without having
to put in necessarily more hoursand more time. And, and that's
usually done through vehiclesusing vehicles using real estate
using assets that pay that cashflow that pay you on. So that's
(16:50):
something that would kind ofdifferentiate really is the
difference between activeinvesting and passive investing,
and then even figure out a wayto take from the active side,
because everybody has to work,you have to work for money, but
you take from that, and then youput it into passive things
that'll pay forward.
Sam Yates (17:05):
Or as some of my friends call it mailbox money,
who?
Sarry Ibrahim (17:08):
Yeah, yeah, I've heard Sam, I've heard from so
many people that they've made,you know, millions of dollars
working in companies and runningtheir own businesses actively
engaged in a working 6070 hoursa week. And then they started
doing some passive income, andwhether it was writing a book or
something, and then theyliterally get like a check in
the mail for 10 or $15 a monthfor for example. And they that's
(17:30):
when they feel the wealthiest,not when they were making a
million dollars a year beforethey because they were actively
engaged in money. But whenyou're making money without
working for it necessarily. It'sa different feeling. It's a
different type of money.
Sam Yates (17:40):
And it's funny that you say it, because that is my
friends. You know, they they'remaking some money, but you know,
I'm looking at it. And I waslike, Are you kidding me? Why
don't you get out there and comework with me or something, we'll
make some money. And I don'tknow, I don't have to do
anything to make this. So it'sreally that joy that they get
up? Hey, it's just coming onComing on into my mailbox. So
(18:01):
that's, that's a nice feeling.
What about our seniors? You saidthat you you have some clients
within that senior sector? Yes.
They're living longer? How doesthat impact what you are
advocating? And I guess I'mgonna back off and say you're
not advocating because thatwould be offering decisions of
(18:23):
you do this, or you can choose Aor B and I from what I'm
hearing, yours is notnecessarily pick one of these.
But this or, and it's acombination.
Sarry Ibrahim (18:37):
Combination.
Exactly. It has to becombination, it has to be
different things. And, you know,one thing I would look at is the
risk of when you when you livelonger. That's good, right, from
a health perspective, from afamily perspective. But from a
financial perspective, it's arisk. You know, this is where
the the terms annuity, anannuity comes in, right. And
annuity is insurance againstliving longer. So you it's a
there's a risk involved withliving longer, because the
(19:00):
longer you live, the more youhave to spend. What if you? What
if you've you budgeted yourretirement to live until age 85.
And here you are, you're 90years old, what happened in the
last five years, you've had todeplete accounts, you've had to
get support from the family?
What if you could hedge againstthat type of risk, and one of
the ways to do so is throughannuities. Now, I'm not
(19:22):
advocating annuities, becauseyou have to really understand
them. There's, there'scertainly, they're very
important, it's very importantto understand how annuities
work. But one of the advantagesto it is you can set it up so
that way you never run out ofmoney, you're always getting
your monthly checks coming in.
And then you can even set it upso that way it increases every
year because of inflation. It'sgoing to go up every year. And
(19:42):
you can even set it up to thepoint where regardless of how
long you live, you'll always seethat increase and then set it up
so that way your spouse or yourbeneficiary will also see that
increase to they'll get likeit's like a pension where
somebody is getting income, theypass away and it goes to the
spouse and then the spouse keepsgetting paid Come, you can set
it up, set it up that way,Social Security Osint is an
annuity. It's a national federalannuity, that everybody pays
(20:05):
into it from your jobs fromSocial Security taxes, it goes
into an account. And then fromthat account people when they
either 62 or 65, or 67 Get backmoney from that. So in essence,
it's an annuity. So you wantyour own annuity right, still,
obviously, still gonna getSocial Security, you're still
gonna get you might have acompany pension plan, or 401k, I
would also add in an annuity,just to so you can always have
(20:27):
that increase in income comingin, and you mitigate against the
risk of living too long.
Sam Yates (20:34):
Now, that begs the question, as you're looking at
doing something with funds, andlooking forward to a life at
some point where you're notnecessarily going to be working
as actively or or maybe youwill, when should one start?
Sarry Ibrahim (20:54):
Yes, sir. So there, I would, I would really,
I would recommend never to deferit to the future, right? Whether
you are 30 years old, it now'sthe time to do so. And whether
you're seven years old, now'sthe time to do so. So really,
it's because there's so manydifferent aspects to planning,
and then retirement planning andfinancial planning, that each
(21:16):
stage requires some sort ofanalysis, right? When you're 30
years old, it's good, becauseyou have the next 40 years to
work for, you know, for example,if it's 70, you're good, because
you probably accumulated moneyduring your life or some sort of
ask, even if you don't have thatmuch liquidity that much cash
somewhere, or in cash flow,you've probably accumulated
assets in some sort of way. Soreally, I would, I would, I
(21:37):
would do a plan as soon aspossible I'd want I'd focus on
the who's the accountant, thelawyer, the financial advisor,
or anybody else, who you look atas the who, in your portfolio. A
lot of when you hear a lot aboutstories of entrepreneurs and
people who started a lot ofgreat companies and you ask
them, you know, what, how didyou do this? They would say the
first step is they got the WHOinvolved there, who Robert
(22:00):
Kiyosaki talks a lot about thisin his book, you want to gather
your team, you know, your teamof professionals, and, you know,
you can in the business world,you can be cheap with
everything, except for theprofessionals around you, you
know, you want to best invest inthose people. So, so yeah,
definitely, I would do it assoon as possible, start working
on your team, and then startedlooking into this, there's a lot
(22:20):
to learn, right is a lot of selfeducation involved, as you could
tell, like pot and listen topodcasts like this, listen to
our podcasts, reading books outthere, there's a lot of content
to consume about the strategiesand, and these things that are
mentioned.
Sam Yates (22:35):
I know that we mentioned your contact
information earlier in the show,but I'm watching the clock. And
I know that I want to make surewe don't go too much over what I
like to budget for ourlisteners. Again, how can people
get in touch with you?
Sarry Ibrahim (22:50):
Yeah, so thinking like a bank.com, thinking like a
bank.com?
Sam Yates (22:56):
Before we wrap up, you basically touched on taxes
very briefly. We were talkingabout homestead in Florida not
having but the taxing situationthat currently is in a little
bit of a flux, or it could be aswe go through different
political parties. How importantis it that you plan around some
(23:21):
of the taxation problems oropportunities?
Sarry Ibrahim (23:24):
Yeah, 100 It's definitely it's something that
should be on top of your list,right? I think that the tax code
is designed to for you tounderstand it. And for you to
replenish your money to investin different places. Real estate
is a big one. runningbusinesses, operating businesses
that deductions, depreciation onassets, there, it's already
(23:46):
written out for people to usethem. And I think that so So
number one, it's meant for thatwe're not trying to find
loopholes and try to, you know,not pay taxes, because we were
trying to be sneaky. They it'sactually the opposite is true.
The government writes thesethings, Congress, the IRS, they
write these things, so thatpeople could entrepreneurs and
real estate investors mostlycould understand how these work
(24:08):
and then use them to theiradvantage. So it makes a big
deal. If you understand thesetaxes, taxes, you could save you
know, in your life, I don't evenknow. Let's just say even if you
were able to save 20% on taxes,I mean, that could that could be
millions, for some people, youknow, over the lifetime. If you
consider year after year ofpaying taxes, it can mean the
difference of having a propertax and play could mean the
(24:31):
difference of your childrenhaving a college education
funded or not. Are you having topay extra for that? And give me
the difference? You know,building you're helping your
church expand, leaving a legacyfor your business for your
grandkids. I mean, it's theminor things can make a huge
difference, especially when youconsider the time the time value
of money and had them whenyou've been invested somewhere
(24:52):
and growing rather than going totaxes. And again, it's meant for
that, really, for proper taxplanning. You need an Tony, a
tax attorney, and you need a CPAor an enrolled agent to help you
really kind of go through thedifferent tax parts, the
charitable parts, thedeductions, depreciation, to
really figure out a way to keepas much money as you can within
(25:13):
your estate within your familyover real life. But yeah, it
makes a huge difference. It'sit's up, that's the top two or
three most important factors toyour financial planning the tax
part.
Sam Yates (25:22):
There were a lot of areas that we touched upon,
there are still many that we didnot touch upon. So I have to ask
the question, can you come backfor another appearance at some
point in the near future?
Sarry Ibrahim (25:34):
I'd love to see him. Yeah, I'd love to write.
And
Sam Yates (25:37):
ladies and gentlemen, I have to say that being in the
broadcasting business and Istill consider myself in the
broadcasting business. It israre that you are able to that I
am able to sit down with someoneand carry on a conversation and
cover so much material that it'snot a matter of extracting teeth
(26:00):
or or just pulling theinformation out. I want to give
you a compliment in front of thewhole world that you are a
conversationalist, and you knowwhat the hell you're talking
about. Thanks so much. Thankyou. All right. We look forward
to having you back again at somepoint in the future. In the
meantime, I am Sam Yates, yourgray haired host of The Great
(26:23):
American Senior show. Have agreat day everybody
Hello, everyone, and welcome to another exciting
edition of The Great AmericanSenior Show. I'm your grey
haired host, Sam Yates. Andtoday, we're going to talk about
something that you can take tothe bank. Well, let me rephrase
that a little bit. When I sayrephrase, and bank, there's some
key words there. When I amlistening to podcasts, and I
listen to podcasts, from allover the country, or I hear
(00:34):
something from one of thecompanies that would like a
guest to appear on my program, Ilistened very intensely to see
if there is something that jumpsout and would make our guest on
The Great American Senior showand the other podcast that we do
pay attention. And that phrase,bank on yourself was something
(00:55):
that caught my attention. So Ihave the expert to talk about
that topic and a few otherthings with me today. Sarry
Ibrahim. Sarry, welcome to theprogram. Before we get into
banking on yourself, tell usabout yourself.
Sarry Ibrahim (01:13):
Hi, Sam, thank you so much for having me on. I
appreciate it. It's a pleasureto be here and speak to you in
the audience today. So a littlebit about me, I'm from Chicago,
Illinois, born and raised here.
And I run a company calledfinancial asset protection. So
we're a full service financialservices firm, we help clients
in all 50 states, we even dosome international things. With
financial planning, we try totake the role more as like a
(01:33):
financial coach, in that we workwith clients of all backgrounds
and try to help them reach theirfinancial goals, whatever those
goals might be. I've been inthis in this industry for about
seven years now. And love it, Idefinitely see myself in this
long term. And we also have apodcast called thinking like a
bank to the podcast, as you canprobably tell from it. It's a
financial podcast, a financialliteracy podcast, that shows
(01:55):
people how to think like a bank.
And that's kind of the brandwe're trying to build is the
thinking like a bank brand, andshowing people how to not just
think like retail consumers orretail investors, but to really
take the thinking of a bank.
Sam Yates (02:10):
I think that is a concept that is really coming to
the forefront now. But it is aconcept that also has been
around a while.
Sarry Ibrahim (02:20):
Absolutely, yeah, it's been around actually,
probably for over 100 years. Soit's something that we didn't
invent this right, this has beenaround for a really long time.
It just became more popularrecently with podcasting, and
books and Amazon and things likethat. And information being more
easily accessible. Nowadays,it's been becoming more of a
relevant topic. People usuallyknow it as infinite banking or
(02:41):
the bank on yourself concept. Soreally, I would say the first
introduction to it was in thebook becoming your own banker by
Nelson Nash. So Nelson Nashwrote the book, becoming your
own banker, and he talks aboutthe strategy of using the
vehicle we're going to talkabout, as far as becoming your
own source of financing, growingyour business, investing in real
estate, kind of taking controlof your financial world, and not
(03:04):
just leaving it up to the banks.
Sam Yates (03:06):
And I think that is something that's going to really
capture the attention of ouraudience. So before I forget,
How may people get in touch withyou? Because they're going to be
jotting down some notes. And ifwe don't let them know, now, we
might, we might lose them alittle later on the program. How
can they get in touch with you?
Sarry Ibrahim (03:21):
Yeah, easiest way thinking like a bank.com.
Thinking like a bank.com.
Sam Yates (03:27):
And being in Chicago, you're on Central time, but they
can reach out and schedule ameeting or an appointment with
you pretty much anytime.
Sarry Ibrahim (03:36):
Yeah, anytime they can reach out schedule an
appointment, they can send me anemail, connect with me on
LinkedIn, all of that as Senatorthrough thinking like a
bank.com.
Sam Yates (03:46):
Who's your audience, when we talk about anything
financial, no matter what you'redoing? You have an audience. So
who's your target audience,
Sarry Ibrahim (03:54):
your target audience? Good question. It's
business owners and real estateinvestors, I guess every real
estate investors in essence ofbusiness owner as well. So
looking for real estate,investors, business owners, and
also full time employees whowant to venture off they want to
kind of create their ownretirement plan, not just rely
on their company, 401 k plan ortheir company, 403 big plan, but
(04:15):
somebody who really wants tokind of step outside the
parameters of the corporate lifeand really want to look at
passive income and wealthaccumulation outside of their
job.
Sam Yates (04:25):
As you say that, it sounds like you're also
advocating that people don'tnecessarily go to the bank and
get caught up in. I like to callit banking chaos. Yeah.
Sarry Ibrahim (04:39):
Yeah, absolutely.
Yeah. Bank something for themost part tend to be helpful,
right? It's convenient. Youcould go somewhere, put your
money somewhere. And then whenyou want to access that you
could write a check. You can gothere, you can withdraw money.
It's convenient, I get it. Butthere are certain things that
banks do that I'm not really Idon't really like for example,
you go to the bank, you depositlet's just say $1,000 in it. A
bank account, and then they turnaround and then they loan that
(05:02):
out to other people throughcredit cards and all types of
interest loans, high interestloans, and you get nothing for
usually checking accounts willgive you anything, right. And
then even savings accounts are,you know, a fraction of a
percent. I work with a lot of mya lot of my clients are Medicare
beneficiaries, they haveMedicare, and one of my clients
is, like 75 years old, and hetold me he's like, you know,
(05:25):
he's like, the world isdifferent. Now. He's like, when
in 1980, I used to make 25%interest on on one of my CDs.
And I'm like, yeah, that thosedays don't exist anymore. So
there's been a lot of shiftingas far as it's not, it's almost
like it's not a it's not fear ityou know, the way we put money
in the bank, and then what banksdo with money. So I want to kind
of revolutionize that change,though, in the sense where we
(05:48):
could do a little bit more now,we'll still need banks, right?
We'll still need banks totransfer money and use debit
card and credit cards and thingslike that. But as far as who,
where the interest goes, weshould refund all that back into
our pocket, we become our ownsource of finance, and we become
our own bank, in essence. Yep.
Sam Yates (06:07):
And I'm glad that you narrowed it down into the
banking community, don't get mestarted on the stocks and bonds
traders that use your money andthat were those there's, there's
a whole different ballgame ofwhere your money goes then and
how it's being used before it isback in your control. But when
we talk about growing yourassets, you know, I run into a
(06:30):
lot of seniors that they're verytight lipped about talking about
their assets. Is that somethingthat you recommend that we keep
a tight lip on? What we aredoing with our assets? Yeah,
it's
Sarry Ibrahim (06:45):
a good question.
So I think a lot of people areworried about people suing them,
right. And people finding outthe type of assets you own,
because a lot of people mighthave like investment properties,
or businesses or stocks orbonds, or any type of asset,
either tangible or financial, orany type of asset, they'll
usually have them in, if they'vedone a good asset protection
(07:06):
plan. And like LLCs, and trustsand things like that, not
necessarily in their name. Sowhen they tell people what those
trusts are cold, or what thoseLLCs are called, they kind of
gives away, it kind of defeatsthe purpose of, of doing that
whole asset protection plan. Andif you're already has done this
already reaching out toattorneys and do asset
protection and estate planning,they're really expensive. They
(07:29):
charge a lot of money, becauseit's a very complex thing, it's
a very labor intensive thing todo. It requires a lot of hours
of research. And so that's alsoa very niche part of the law.
Right? It's not like anyattorney down the street from
you can just do all these typesof things. It's like a
specialist. So when peopleinvest in these, they kind of
want to keep it that way. Sothey don't defeat the purpose of
(07:51):
telling people the names or theLLC is the names of their trusts
and, and things like that. Soit's definitely an asset
protection mechanism for sure.
Sam Yates (08:00):
And the reason I mentioned that is because I'm
headquartered in Florida, buthere in Florida, we do have
certain asset protections inplace through our homestead
exemptions and other things thatcan have your home can't be
touched. Well, technically, itcan. But those are some very
important things that we see.
And I think an enormous amountof LLCs in Florida, perhaps is
(08:21):
compared to other states. Yeah.
How it probably for that verysame reason.
Sarry Ibrahim (08:28):
Yeah, absolutely.
Yeah, for sure. Florida, I thinkis arguably the best state in
the country. As far as assetprotection and the home, the
home set one being the best one.
This is why you hear aboutcelebrities who build $50
million mansions in Florida,it's it's entirely for the most
part, it's all protected. I'mnot an attorney, so don't quote
me on this, but it's it for themost part it is it's the best
(08:50):
state for asset protection,pensions, annuities, cash value,
whole life insurance, all thesethings are protected in the
state of Florida. And then alsothat's the reason why there's a
lot of companies located inFlorida, I think second to
Florida maybe is Delaware.
Right. So double a Delawarecorporation is usually has a lot
of high asset protection. But asfar as real estate goes, and the
reason why a lot of companiesare located in Florida other
(09:12):
than the fact to there's nostate, I think there's no state
income tax right in Florida.
That also makes a big differencetoo. So one thing I've noticed
when it comes to proper filingfinancial planning and financial
strategies is the connectionbetween asset protection, taxes
and the ability to grow wealth,regardless of the market. And so
(09:32):
those kind of all three of thosethings kind of intertwine
together. So, usually, it's notlike you take care of one only
it's usually like you're tryingto take care of all those
things. You're trying tomitigate taxes, protect your
assets from creditors and otherrisks and grow your money
regardless of how the marketdoes not just have to rely on
how the stock market does.
Sam Yates (09:52):
When we think about growing our money, when we grow
anything, it takes a tool or aset of tools So what are the
tools that go into play withwhat you're talking about? What
are your giftings?
Sarry Ibrahim (10:07):
Yeah, good question. Yes. So there's a lot
of tools, right? So look at thepeople that who is number one at
the top of it. So the who you'reworking with, I'd want to have
everyone out there a CPA, rightand accountant, at one attorney,
maybe a few attorneys thatspecialize in different things.
Like I, we just talked abouttrusts and asset protection. And
then as well as like corporatethings, if you own businesses,
(10:28):
and you're selling businessesand things like that. And then
also like a financial advisor,financial planner, or financial
coach, somebody kind of steppingoutside of what the accounting
and the what the lawyers becauselawyers and accountants, for the
most part, they might knoweverything about a retirement
plan, but not necessarily how torecommend it to you. That's not
necessarily their job. They knowthe technical parts of it. But
as far as recommending it toyou, it's kind of outside
(10:50):
usually outside of the scopeunless they have training in
that area as well. So I'd wantthe WHO up there to be the top
of it, right. And then afterthat, you know, there's all
types of vehicles right, likeone of the strategies, we use
the bank on yourself strategy,that's a that's a tool we use,
in that it uses cash value wholelife insurance to do a lot of
things like protecting yourassets, and growing your money
tax tax free. And so there'ssome situations, and I think
(11:13):
that's the way you position thequestion is really good, because
it's, that's all it's about.
It's about the tools, notnecessarily what the product is
called. I think a lot of peopleget caught up on that, like, I
don't want to do a whole lifeinsurance because this person
said whole life insurance is notgood. When we're too caught up
on the title of it. What we needto do is we need to understand
the function and what does itdo? What how does it help you?
How does it play out? So the whoand the tools you're using?
(11:34):
Absolutely, along with the wholelife insurance? Well, I would
also highly recommend some realestate in their portfolio and
understanding how real estateboth from the active inside
active investing side as well asthe passive investing side and
that can get into further thanthat if you'd like.
Sam Yates (11:52):
Well, I think one of the things to reflect on about
real estate is right now, wehave seen some significant
pendulum swings in the world ofreal estate, Florida somewhat
protected. And I'm speaking alittle bit from a background of
being in many industries,including the building industry,
(12:13):
that Florida's splurt is stilldoing well. But there are some
areas some states that that realestate market has absolutely
come around to bite them rightin the wallet.
Sarry Ibrahim (12:25):
Yeah, 100%. Yeah, that's right. So I think the
biggest downfall to real estaterecently, over the last, I would
say three or four months, and2022 has just been the interest
rates have gone up dramatically.
I bought a house. Last year, ourinterest rates like everybody
else at that time were lowthrees. Now I passed by a
billboard on the highway, it wasx 7.5%. So that big jump in the
in the interest rates, thatcould lead to an extra 600 to
(12:49):
$800 a month and principal andinterest and interest payments
only on your on your house. Sothat's going to deter a lot of
people from buying because it'stoo expensive to borrow money.
Plus, even more importantly, alot of people can't qualify now,
because as interest rates go up,the bar is raised now to
qualify. And a lot of people whobuy houses are barely able to
(13:11):
they're coming up with thedownpayment, they're maximizing
the downpayment, they'remaximizing the monthly payments,
they're working with theirlender to, you know, pay off
credit cards refinance certainthings to really get by. So when
interest rates go up, it makesit even harder. But but that's
in the residential mortgagearea, I still think there's a
whole nother world out there.
(13:34):
And that's a commercial realestate. I think like for
example, multifamily housing,where you have like 100 unit
buildings, 200 unit buildings, Ithink that there's been an
increase in those types ofproperties, because the demand
for rent has gone updramatically. Like, you probably
talked a lot of people who can'teven find a place to rent
nowadays, like When has thatever existed where you can't
even find like, even if you wantit to rent somewhere, you can't
(13:55):
even find that because of thedemand for rentals going up. So
from an investment standpoint, Ithink that still stands to be a
good investment. I wouldn't buylike, you know, residential to
live in right now. It's probablynot that best, the best time for
that. But as far as investinginto multifamily housing and
other asset classes, if anythingis on the rise, even through a
(14:16):
high interest environment. And I
Sam Yates (14:19):
think even in your particular area, I can think
back to the days of the CabriniGreen redevelopment and some of
the infield growth. One of myfriends is pretty high up in the
Masonic lodge there in Chicago,and one of their greatest
decisions that it was a gravedecision not just great was
Where are we as Mason's going toinvest our money now that
(14:43):
Chicago is seeing such a massiveamount of growth in particular,
that multifamily multifamilysector so I think you're right
on right on target, but a momentago you were talking about
whether or not you shouldconsider being active or passive
in So with that respectexplained a little bit.
Sarry Ibrahim (15:02):
Yeah, absolutely.
So a lot of people when theythink of real estate, or they
think of starting a business,they think of an active
engagement, right? Like, you'regonna find the property, you're
gonna find you're going tocreate the LLC, you're going to
find the the contractors, andthere's nothing wrong with that,
there's all that's obviously avery lucrative thing to do, if
you know what you're doing. Butwhat about the people who don't
have time for that, you don'thave time to go out there and
real estate, you can get intoreal estate, from a passive
(15:24):
perspective, this is where theonly thing you're responsible
for is your share of the of thefund or your share of your
investment you get that you'regonna allocate, and then
agreeing to the terms andconditions of that deal. That's
really all you have to do to bea passive investor, you want to
do research, you want to consultwith your attorney or accountant
or financial adviser, you wantto make sure it's a good fit for
you. But really, you're notresponsible for anything in the
(15:44):
day to day operations, you'relimited in the set, it's called
also limited partners. So you'relimited in the sense of your
liability, and limited in thesense of the decisions you have
to make, you actually don't haveto make any decisions at all,
for the most part, for the mostpart, being a limited partner.
And I think that's reallyimportant because we get caught
up in this world of, you know,entrepreneurship, where we're
trying to build businesses andinvest money. But we have to
(16:05):
differentiate the active sidefrom the passive side, because
what's the point of owning morebusinesses owning more real
estate, if you're just buildingup more, you're you're taking up
more of your time, it kind ofdefeats the purpose of having a
good standard of living having ahappy life, if you're constantly
working, I think we need totransition where we need to take
the money that we're making, andfrom our previous days, and then
(16:27):
push that into vehicles andthings that will pay us forward,
that will we can sustain ourliving our income, even increase
our income to keep up withstandard of living to keep up
with inflation and taxes andthings like that, without having
to put in necessarily more hoursand more time. And, and that's
usually done through vehiclesusing vehicles using real estate
using assets that pay that cashflow that pay you on. So that's
(16:50):
something that would kind ofdifferentiate really is the
difference between activeinvesting and passive investing,
and then even figure out a wayto take from the active side,
because everybody has to work,you have to work for money, but
you take from that, and then youput it into passive things
that'll pay forward.
Sam Yates (17:05):
Or as some of my friends call it mailbox money,
who?
Sarry Ibrahim (17:08):
Yeah, yeah, I've heard Sam, I've heard from so
many people that they've made,you know, millions of dollars
working in companies and runningtheir own businesses actively
engaged in a working 6070 hoursa week. And then they started
doing some passive income, andwhether it was writing a book or
something, and then theyliterally get like a check in
the mail for 10 or $15 a monthfor for example. And they that's
(17:30):
when they feel the wealthiest,not when they were making a
million dollars a year beforethey because they were actively
engaged in money. But whenyou're making money without
working for it necessarily. It'sa different feeling. It's a
different type of money.
Sam Yates (17:40):
And it's funny that you say it, because that is my
friends. You know, they they'remaking some money, but you know,
I'm looking at it. And I waslike, Are you kidding me? Why
don't you get out there and comework with me or something, we'll
make some money. And I don'tknow, I don't have to do
anything to make this. So it'sreally that joy that they get
up? Hey, it's just coming onComing on into my mailbox. So
(18:01):
that's, that's a nice feeling.
What about our seniors? You saidthat you you have some clients
within that senior sector? Yes.
They're living longer? How doesthat impact what you are
advocating? And I guess I'mgonna back off and say you're
not advocating because thatwould be offering decisions of
(18:23):
you do this, or you can choose Aor B and I from what I'm
hearing, yours is notnecessarily pick one of these.
But this or, and it's acombination.
Sarry Ibrahim (18:37):
Combination.
Exactly. It has to becombination, it has to be
different things. And, you know,one thing I would look at is the
risk of when you when you livelonger. That's good, right, from
a health perspective, from afamily perspective. But from a
financial perspective, it's arisk. You know, this is where
the the terms annuity, anannuity comes in, right. And
annuity is insurance againstliving longer. So you it's a
there's a risk involved withliving longer, because the
(19:00):
longer you live, the more youhave to spend. What if you? What
if you've you budgeted yourretirement to live until age 85.
And here you are, you're 90years old, what happened in the
last five years, you've had todeplete accounts, you've had to
get support from the family?
What if you could hedge againstthat type of risk, and one of
the ways to do so is throughannuities. Now, I'm not
(19:22):
advocating annuities, becauseyou have to really understand
them. There's, there'scertainly, they're very
important, it's very importantto understand how annuities
work. But one of the advantagesto it is you can set it up so
that way you never run out ofmoney, you're always getting
your monthly checks coming in.
And then you can even set it upso that way it increases every
year because of inflation. It'sgoing to go up every year. And
(19:42):
you can even set it up to thepoint where regardless of how
long you live, you'll always seethat increase and then set it up
so that way your spouse or yourbeneficiary will also see that
increase to they'll get likeit's like a pension where
somebody is getting income, theypass away and it goes to the
spouse and then the spouse keepsgetting paid Come, you can set
it up, set it up that way,Social Security Osint is an
annuity. It's a national federalannuity, that everybody pays
(20:05):
into it from your jobs fromSocial Security taxes, it goes
into an account. And then fromthat account people when they
either 62 or 65, or 67 Get backmoney from that. So in essence,
it's an annuity. So you wantyour own annuity right, still,
obviously, still gonna getSocial Security, you're still
gonna get you might have acompany pension plan, or 401k, I
would also add in an annuity,just to so you can always have
(20:27):
that increase in income comingin, and you mitigate against the
risk of living too long.
Sam Yates (20:34):
Now, that begs the question, as you're looking at
doing something with funds, andlooking forward to a life at
some point where you're notnecessarily going to be working
as actively or or maybe youwill, when should one start?
Sarry Ibrahim (20:54):
Yes, sir. So there, I would, I would really,
I would recommend never to deferit to the future, right? Whether
you are 30 years old, it now'sthe time to do so. And whether
you're seven years old, now'sthe time to do so. So really,
it's because there's so manydifferent aspects to planning,
and then retirement planning andfinancial planning, that each
(21:16):
stage requires some sort ofanalysis, right? When you're 30
years old, it's good, becauseyou have the next 40 years to
work for, you know, for example,if it's 70, you're good, because
you probably accumulated moneyduring your life or some sort of
ask, even if you don't have thatmuch liquidity that much cash
somewhere, or in cash flow,you've probably accumulated
assets in some sort of way. Soreally, I would, I would, I
(21:37):
would do a plan as soon aspossible I'd want I'd focus on
the who's the accountant, thelawyer, the financial advisor,
or anybody else, who you look atas the who, in your portfolio. A
lot of when you hear a lot aboutstories of entrepreneurs and
people who started a lot ofgreat companies and you ask
them, you know, what, how didyou do this? They would say the
first step is they got the WHOinvolved there, who Robert
(22:00):
Kiyosaki talks a lot about thisin his book, you want to gather
your team, you know, your teamof professionals, and, you know,
you can in the business world,you can be cheap with
everything, except for theprofessionals around you, you
know, you want to best invest inthose people. So, so yeah,
definitely, I would do it assoon as possible, start working
on your team, and then startedlooking into this, there's a lot
(22:20):
to learn, right is a lot of selfeducation involved, as you could
tell, like pot and listen topodcasts like this, listen to
our podcasts, reading books outthere, there's a lot of content
to consume about the strategiesand, and these things that are
mentioned.
Sam Yates (22:35):
I know that we mentioned your contact
information earlier in the show,but I'm watching the clock. And
I know that I want to make surewe don't go too much over what I
like to budget for ourlisteners. Again, how can people
get in touch with you?
Sarry Ibrahim (22:50):
Yeah, so thinking like a bank.com, thinking like a
bank.com?
Sam Yates (22:56):
Before we wrap up, you basically touched on taxes
very briefly. We were talkingabout homestead in Florida not
having but the taxing situationthat currently is in a little
bit of a flux, or it could be aswe go through different
political parties. How importantis it that you plan around some
(23:21):
of the taxation problems oropportunities?
Sarry Ibrahim (23:24):
Yeah, 100 It's definitely it's something that
should be on top of your list,right? I think that the tax code
is designed to for you tounderstand it. And for you to
replenish your money to investin different places. Real estate
is a big one. runningbusinesses, operating businesses
that deductions, depreciation onassets, there, it's already
(23:46):
written out for people to usethem. And I think that so So
number one, it's meant for thatwe're not trying to find
loopholes and try to, you know,not pay taxes, because we were
trying to be sneaky. They it'sactually the opposite is true.
The government writes thesethings, Congress, the IRS, they
write these things, so thatpeople could entrepreneurs and
real estate investors mostlycould understand how these work
(24:08):
and then use them to theiradvantage. So it makes a big
deal. If you understand thesetaxes, taxes, you could save you
know, in your life, I don't evenknow. Let's just say even if you
were able to save 20% on taxes,I mean, that could that could be
millions, for some people, youknow, over the lifetime. If you
consider year after year ofpaying taxes, it can mean the
difference of having a propertax and play could mean the
(24:31):
difference of your childrenhaving a college education
funded or not. Are you having topay extra for that? And give me
the difference? You know,building you're helping your
church expand, leaving a legacyfor your business for your
grandkids. I mean, it's theminor things can make a huge
difference, especially when youconsider the time the time value
of money and had them whenyou've been invested somewhere
(24:52):
and growing rather than going totaxes. And again, it's meant for
that, really, for proper taxplanning. You need an Tony, a
tax attorney, and you need a CPAor an enrolled agent to help you
really kind of go through thedifferent tax parts, the
charitable parts, thedeductions, depreciation, to
really figure out a way to keepas much money as you can within
(25:13):
your estate within your familyover real life. But yeah, it
makes a huge difference. It'sit's up, that's the top two or
three most important factors toyour financial planning the tax
part.
Sam Yates (25:22):
There were a lot of areas that we touched upon,
there are still many that we didnot touch upon. So I have to ask
the question, can you come backfor another appearance at some
point in the near future?
Sarry Ibrahim (25:34):
I'd love to see him. Yeah, I'd love to write.
And
Sam Yates (25:37):
ladies and gentlemen, I have to say that being in the
broadcasting business and Istill consider myself in the
broadcasting business. It israre that you are able to that I
am able to sit down with someoneand carry on a conversation and
cover so much material that it'snot a matter of extracting teeth
(26:00):
or or just pulling theinformation out. I want to give
you a compliment in front of thewhole world that you are a
conversationalist, and you knowwhat the hell you're talking
about. Thanks so much. Thankyou. All right. We look forward
to having you back again at somepoint in the future. In the
meantime, I am Sam Yates, yourgray haired host of The Great
(26:23):
American Senior show. Have agreat day everybody
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