#107 - Take Control of Your Capital: Infinite Banking Strategy With Brent Kesler

[00:00:00] Hey everyone, welcome back to another episode of Passive Income Pilots. Tait Duryea here with Ryan Gibson. What's up? Good to see you, Tait. You as well. How are you? I'm great. I just got back from the Pilot Network Conference, TPNX in Minneapolis. It was a blast. We had a big new booth, lots of interested parties, and we actually hosted a happy hour. I don't know if you even know this. Passive Income Pilots hosted a nice soiree at the top of the Intercontinental. So if you were there and you had a drink on us. Thanks for doing that. Yeah, exactly.

[00:00:29] While you were doing that, I was taking the kids to New York City and Washington, D.C. for spring break. I saw the kids were on the set of Fast Money, CNBC. Yeah, yeah. Our very first guest on the show, Guy Adami, was gracious enough to host us on set. We actually got to go do a tour of the New York Stock Exchange, which was, you'd think right now it would be crazy, right? The markets are up and down and you'd think there'd be everything.

[00:00:57] But it was kind of sad. There was no one there. You could hardly even tell that the market was trading. The New York Stock Exchange now is mostly work from home. Really? It doesn't have the amount of people running around there. I don't know where the news articles always get that same guy that's on the trading floor with that deathly look. Yeah, like he's got his hand on his forehead and like, that's not what it's like. Nobody's throwing paper all over the place.

[00:01:22] Yeah, I even went up to the bell and I was like, man, this bell is even, you know, this could be like automated, you know, or whatever. So it was kind of, you know, it was really cool to see it for sure. It was, it's a beautiful building.

[00:01:33] I believe the building was designed after the same guy that designed the, uh, the train station. You know, it's just very articulate, amazing place, super fun. But what is cool? Like CNBC has all these like studios kind of throughout the, the trading floor where they do a lot of the broadcast. And we saw some pretty big names, uh, reporting the news. And then we got some great photos.

[00:01:56] And then after that, we went over to the NASDAQ up towards Times Square to that building. And then we, uh, we watched the fast money show filmed live. And, uh, that was super interesting. If you guys don't watch that show, obviously it's been on CNBC for, I don't know, 18 years now. It's kind of a staple at five o'clock Eastern time. Uh, but we got to see that. And then we, uh, we, we went around New York and we, we did the thing with the kids. We went to the slime museum or the, the SLU Moo Institute. That was a lot of fun.

[00:02:26] And then we, uh, we literally just got back, um, like five minutes ago. So we're, we're a little tired. Very cool. Well, that's it. That sounds like a special trip. That's fantastic. Well, speaking of wall street, we're kind of talking about the opposite of wall street today, and that is doing your own banking. You know, we've had the money insights guys on here multiple times talking about whole life insurance and building really, you know, with money insights, we kind of stay away from the term infinite

[00:02:53] banking because it gets thrown around and it's, it's sort of a cheesy thing. But today we have a gentleman by the name of Brent Kessler on the show, who's been doing life insurance for a very long time and, uh, is very successful with it. And he brings an enthusiasm that, uh, sometimes don't come through with a rod and Christian who we appreciate that they're not all about hype. I think that's what I

[00:03:17] appreciate about our, our friends over at money insights a lot. I agree. I think sometimes the hype is gets in the way of the education, but sometimes, sometimes you got to be inspired, right? Like sometimes you got to have someone come on and be a little excited about something. And that really kind of sparks your interest gets you super excited about something. So we balance that with, you know, people that you want to do potential business with, uh, with money insights.

[00:03:44] And, uh, today it's just going to give you a well-rounded education on how it all works and how it all comes together, uh, and really get you, uh, what's possible. Yeah. What's possible. Yeah, exactly. So kind of put some spark, uh, behind it and, uh, and show you what's possible if you really lean into this. Yeah. Who's our guest today, Tate, do you have a little background on who he is and, and, uh, kind of what he's all about? Absolutely. So Brent Kessler, uh, was a former

[00:04:10] chiropractor and a chiropractic coach for over 14 years. And that was kind of a previous life. He then transitioned into a life insurance after, you know, going into a lot of seminars and, and things like that, uh, learning about the whole life insurance strategy. And at this point, he is a, it's a huge participant in that he went from making $10 an hour to $10,000 an hour

[00:04:34] and, uh, lives in Florida. He owns a couple of airplanes. So it was a fun conversation. All right, well, let's get into it. Let's get to the show. Welcome to passive income pilots where pilots upgrade their money. This is the definitive source for personal finance and investment tactics for aviators. We interview world renowned experts

[00:04:59] and share these lessons with the blind community. So if you're ready for practical knowledge and insights, let's roll. Brent, thanks so much for joining us. Hey, Tate. Glad to be here, man. Excited to share. Yeah. We were talking before the show about, uh, the two airplanes you own. You're in Florida on an air park. You want to share your aviation background before we get into the real stuff? Yeah. Just to give you a high level, you know, I really got into aviation because my wife and

[00:05:26] we've, uh, been married here in a couple of months, it'll be 30 years. So like her brother, right. Just was a pilot. And, you know, back in, I think it was, um, around 2003, 2004 air time. And, you know, he says, Hey, you know, you might like this flying stuff. He says, well, we should go out and do it like an introductory, uh, ride. Right. And I got hooked, man. I was like, Oh my gosh, that's incredible. So I was in Johnson County, Kansas, living in Kansas city at the time.

[00:05:55] And, um, so I went out there and I did that. And then I got an instructor, went through all of my training, you know, um, got my ticket and all of that. And then I was just wanting to rent a plane. I wanted to go, go, go. And, you know, uh, the problem was is sometimes it was hard to rent a plane. And so I said, well, this sucks. I need to find a plane to buy. So I went down and I bought my first

[00:06:17] plane, I guess it was around Oh four. Um, it was a Cessna one 72. It was a 1998 one 72. And I kind of remember the story because the guy wanted a hundred and 2000 for the plane. And I said, I'll give you a hundred. And we went battle back and forth, back and forth. I went down to his airport in Neosho, Missouri, which is down kind of in the Lake of the Ozark area. My wife was with us and we were going back and forth and she just finally, she looked at it. She says, Hey,

[00:06:47] you two idiots. He says, basically, all right, he is asking one Oh two and you want to give 100. She says, can we just agree on the one Oh one and I'll go home. So that's what we did. So my wife's a realtor and, uh, we, she sees this all the time where people get stuck on $5,000. It's a million dollar transaction. It's like, guys, somebody get off their, their high horse here. Yeah. So yeah. So then I got the one 72. I had that.

[00:07:17] For a while. And then I upgraded to a two Oh six, uh, back in 2016, I got a two Oh six. And, um, right. I got a nice one with only like a hundred hours on it. Found it. I bought it from a company at a time called jet of Viva. And, um, that was a good plane. And then in 2017, I actually moved to Spruce Creek, which is in Florida, um, which is in Port Orange, Florida for

[00:07:45] the pilots out there that, you know, Embry Riddle, you know, right here next to Daytona beach and stuff. And, um, so he, yes. Okay. So like this community Spruce Creek, it was an old Navy base. And now there's lots of houses in here that have airplane hangers attached to them. So, you know, I got an airplane hanger attached to the house and had the two Oh six. And then I decided to upgrade to a

[00:08:10] Meridian, a Piper Meridian. So we upgraded to that in, um, 2020. Now I didn't fly the Meridian and because I got the Meridian, I said, well, I don't need the two Oh six anymore. So I sold the two Oh six and got, and the plane that I flew and got a one 82, an older version of a one 82. But after having

[00:08:33] the one 82, my wife said, well, this only has four seats are two Oh six had six. And of course I have 104 pound dog that likes to travel with us wherever we go. So I ordered, I called up the factory in early, I think it was 2020, 21. And I ordered a brand new two Oh six and they built it and I got it delivered

[00:08:58] in, um, uh, 20. Let's see where we at. We're in 25. I got it delivered in 22, I guess it was in July of 22. And then, and then of course that Meridian we had for two years. Okay. My son was a pilot, so he flew that. Okay. For us. He learned how to fly that, but then my wife wanted to upgrade to a larger airplane or, um, the thing I like to say, she wanted a plane with a bathroom. So we got a

[00:09:27] Pilatus of PC 12 back in June of 2022. And that thing is the best ever that fits the mission. You can throw anything in a, well, of course I hope the FAA guys aren't on here listening, but as long as you can shut the doors, man, that thing will fly. Right. That's what I said about the caravan when I flew that thing way, way, way longer ago. Yeah. Yeah. Turban suburban. But I love aviation.

[00:09:51] And then of course my son got the aviation bug and he's 22 years old and he's been flying now for about two and a half years for net jets. So he flies, uh, the citation, uh, um, he flies the citation latitude. Amazing. Well, very cool. You know, always fun to speak with, uh, you know, a fellow, uh, aviation enthusiast and pilot. So, uh, thank you so much for, for coming on, man.

[00:10:16] We're here to talk about, uh, life insurance today and we're using the, the term infinite banking, which is something that, uh, we kind of stayed away from on the show before, uh, just because there may be some, some people have a negative connotation around it, but you know, it's a, it's a different way to frame it. And, uh, I'd love to jump into that. We're talking about the exact same thing when we're talking about high cash value life insurance policies. I'm excited to get into this because it's a very difficult thing to, uh, understand when you're new to it. I have a

[00:10:45] policy I'm planning on layering on many more policies throughout, throughout my years. Uh, and I've said this on the show before, but I walked away from $30,000 on a policy that was built wrong the first time I went around. So it took me a better part of five, six years, uh, to figure this stuff out. And we're trying to accelerate everyone, everyone else's learning curve here. So Brent, you want to talk about maybe how you got into this and your background in the insurance world?

[00:11:12] Right. So let me give you the backstory. I'm actually a chiropractor. I no longer practice chiropractic anymore. I own five clinics in the Kansas city area. I sold my last one in 2017. And now I teach full time the infinite banking concept. I've been doing it since I've been teaching it since 2012. I've been a customer of it since 2008, but I first heard about it in 2006. So just to give

[00:11:39] you the backstory about it. And so you're saying you, you're a chiropractor. You went to, to, uh, you know, you're obviously entrepreneurial. You built a bunch of practices. Then you used infinite banking to, to now owning a Pilatus. Well, yeah, that, and you know, I, and again, right. As far as what you said, Tate, you have a policy and you're thinking about adding policies. I have 27 policies as we sit here today. And I had at least one policy every year. And I pay over a million dollars a year

[00:12:08] in premium. My daughter who actually is also works with us in our company, the money multiplier. She's 25 years old, has like eight policies. My son that's, um, 22 about to be 23 or no, I'm sorry. 23 about to be 24 has like three policies, right? So the thing we do is we consistently get policies and add more premium. And if you really understand how the concept works and can

[00:12:38] peel back the onion, or even more importantly, just be open to like learning about this financial concept. It is a game changer in your life. Now I know I'm the insurance agent saying that, but I tell everybody, I say, look, if there's something about me that doesn't jive with you, or you don't like me, don't not like infinite banking. Go find somebody that really understands

[00:13:04] and utilizes this concept and work with them because it is a true game changer in your life. And if you go back and do some research on the Rockefellers, the Rothschilds, the Morgans, the Stanleys, the Barclays, if you really research, and if you look and see how they built, this is the concept that they use. If you read the book, Tony Robbins, Master the Money Game,

[00:13:29] in chapter 5.4 of what Tony Robbins talks about in that book is exactly what I teach. In the book that Robert Kiyosaki wrote, Second Chance, we all know Robert Kiyosaki from the book that he's known for, Rich Dad, Poor Dad, but he also wrote a book called Second Chance. In that book, Robert Kiyosaki talks about exactly what I teach. The problem in those books is they make it too complicated to understand. Robert and Tony make the concept too complicated,

[00:13:59] and when people are reading the book, they read right through it, and they're like, well, I don't really know what that means, so I'm going to move on and don't do anything about it and don't look back. Well, just to give you my story, back in 2006, I was sitting at a chiropractic convention, and I heard somebody get on stage, and they were talking about this thing called the infinite banking concept, how to build, keep, and create wealth through your own debts and expenses

[00:14:23] that you have, how to recycle and recapture all the money that has been leaving your family forever. And I thought in 2006, when I heard that message, Kate, I said, that is really, really good stuff, but it sounds too good to be true. There's no way it can work that way. There has to be a catch. So I left in 2006, did absolutely nothing, went back to my chiropractic life, did nothing.

[00:14:47] I go back two years later in 2008 to another chiropractic conference. The only difference was 10 or 12 of my colleagues that were at that previous conference are now with me at this new one, two years later. About 10 or 12 of those colleagues of mine, they implemented the information that they heard two years earlier, and they were going on and on, ran and raving, basically throwing up all

[00:15:11] over me about how this concept was working in their life, how they were paying off their debts, their expenses, investing in real estate, buying stuff, whatever, recycling, recapturing the money. I thought to myself, there has to be something to this. There's no way 10 or 12 of my colleagues are lying. Maybe one or two, but not 10 or 12. So I came home to my wife, February of 2008.

[00:15:38] And I said, honey, we're going to start this banking concept in our life. Now, my wife was very skeptical. Just to give you a background on her, she's actually got a master's degree in nuclear engineering. She helped design the nuclear reactor for the U.S. Navy submarine. So every I is dotted, every T is crossed, right? So when I told her we were just going to start this policy, this banking

[00:16:04] concept, I will tell you that my wife doesn't believe in divorce, but we came close that day to making an appointment at the attorney to talk about divorce. It was not a good conversation, all right? But now fast forward all these years later, and she's like, let's do more and more and more. So in February of 2008, Tate, I was $984,711 in debt. That's what I owed to the third party

[00:16:32] creditors. Now, at the time I lived in Kansas, now I live in Florida, and I know what you're thinking, especially a guy from Hawaii. You're thinking, well, a million dollars in debt, that buys a really, really small house in Hawaii. Well, in Kansas, it buys you a lot, right? Well, how was I in that debt? Well, I had the house that I lived in, my student loans from chiropractic school. I had a condo on the Lake of the Ozarks between St. Louis and Kansas City. I'm an airplane pilot, so I had to have an

[00:17:01] airplane. If I live on a lake, I have to have a boat and a wave runner, right? So it didn't take me a lot to become almost a million dollars in debt. I applied this concept exactly the way this guy teaches it in this book, Becoming Your Own Banker, who was my mentor, R. Nelson Nash, wrote this book, Becoming Your Own Banker. Now, five years ago, March of 20, almost six years ago, March of 2019,

[00:17:29] Nelson Nash passed away at age 87 years old. This book, Tate, changed my financial life. This is a book that everybody should go out and find. Again, Becoming Your Own Banker by R. Nelson Nash. Add that book to your wealth building library. It completely changed my financial life. And so I paid that debt off in 39 months. I really became passionate about this. I was talking to people about it, and I was

[00:17:58] sending them to the person that I started my first policy with. And- I'm going to stop you right there because I want to clarify something, and we'll link to that book in the show notes. I've heard of that before. I've heard of Nelson Nash, but I actually haven't read that book. I need to. So I want to clarify that you're not talking about doing the Dave Ramsey thing. You're saying, hey, I got all this debt, but hey, we always promote on this show that debt is not a bad thing. Debt's not a bad thing at all. In fact, I'm up to my eyeballs in debt. I love debt

[00:18:28] because it allows you to leverage, and you can play the interest arbitrage game. So what Brent isn't saying here is go pay off all your debts. Go pay your house off. Just get rid of all your debt. What you're saying is instead of paying the bank interest, you should be paying yourself the interest. Is that right? Absolutely. 100%. You want to be in control of that debt as much as you can, or like you said, leverage it. And I'll give you an example of what that means. You're right.

[00:18:55] Right. All debt is not bad. Right? So like in this house that I'm, my primary residence that I live in. So the thing I did a few years back is I said, look, I'm going to get all the equity out of my house because I lend a lot of money. I do a lot of lending deals. Okay. I do a lot of real estate development lending deals where I'm in first position. And that's really what my portfolio is. Yes. I own some real estate, have some short-term rentals, long-term rentals, but I love lending more than anything

[00:19:23] else. And for a lot of reasons that we can get into, but I'll just give you an example. So I went to the bank and I said, I talked to my banker, Charlie, which I've dealt with him on several deals over the last, actually before my wife and I got married, so over 30 years. And I said, Charlie, I want to get the equity out of my house. What is it worth? At the time, he says, okay, it's worth like 2.2 million. We're going to give you $1,560,000

[00:19:49] on the house. And I said, great. I said, let's talk about the terms. He says, well, he says, I know you, Brennan, I know what you like to do with the money. You like to keep that money moving. You like to keep it in motion. So I would suggest for you, the best thing I have going right now is a 2.8% interest only loan for 10 years. And I said, hurry up and sign me up before you change

[00:20:15] your mind. Yes, I want that deal. So here's what I did. I took the 1.5 and I pay interest only every month to the bank. I think that payment is like 3,700 a month, whatever 2.8% is on like amortized on that interest only on the 1.560 is my monthly payment. But that 1.5 million is in a real estate

[00:20:40] deal where I'm in first position and it gives me 16% interest every month. So right around 20 grand in interest. So do I care if I pay the bank four grand a month in interest when I'm getting 20 grand a month in off that same exact money? Absolutely not. And I've done that over and over and over again. We can sit here and go through four or five examples of how I do that. But yes, I do leverage

[00:21:07] other people's money, but I always have a system, a concept, a process to fall back in case I ever want to get that third party out of my life and take control of that debt and not have their money. Or let's just say that 10 years comes up and I'm no longer paying 2.8%. They shoot it to 9% or 10%. I'm able to get out of that quickly. So what's the difference then between using the bank's

[00:21:35] money and using your money? Let's get into that. Yeah. Well, of course the bank's money. Okay. The thing you have to remember is the bank is always in control. They make the rules of what's going on. You don't get to make the rules about how you're going to pay it back, when you're going to pay it back the terms and all of that of the loan. Right. And then if you get sideways with the bank or you go through some bad, rough times, maybe you went through COVID or, you know, there's protests and

[00:22:01] riots in your neighborhood and you're laid off or it's cold outside or you're sick or it's hot outside and you have no income coming in for three or six months, the bank could give a crap less whether you have income coming in or not. They want their payment when the payment is due. And they're going to foreclose on your property, just like, you know, I mean, as far as anybody would foreclose if you're not making the payment. So they're in control. And then, and then, and then

[00:22:27] also they're making all the profits on your money because in a conventional bank, the stockholders, the shareholders make the profits and the dividends. When you have your own banking system and the concept is, is by, is by utilizing a whole life insurance policy. I know when I say that word whole life insurance, a lot of listeners just totally tone out because they said, Oh my gosh,

[00:22:54] Brent, why would I ever use whole life insurance? That's a horrible way to build, keep and create wealth because Dave Ramsey and Susie Orman told me so. Okay. That's their automatically thinking of what they think because that's what they go to. But if you peel back the onion and really, really understand what the wealthy and the rich do, this is exactly what they do to build, keep and create wealth. And when you are controlling the banking functions in your own life, you are making the

[00:23:22] profits and the dividends on your money and not other people because every company we use, Tate, is a mutual company. Very key there. Mutual means there are no stockholders and shareholders. shareholders. You are the owner of that contract. So you share in the profits and the dividends of your activity. I want to, I want to really stomp on the fact that you said banking system. You didn't say investment product. We've talked about this on the show before about how the life insurance policy

[00:23:50] is not an investment. If you're treating it as such and you're not taking loans against it, it is a terrible investment. You can find a lot of better things to do with that money. It is a banking system. Absolutely. Thank you for bringing that up. Life insurance is not an investment. It is a process of what you're going to do to make an investment. And let me break it down

[00:24:13] this way. If you think of an investment, the definition of investment is something that can go up and can go down. That's an investment. It can go up and it can go down. A life insurance policy can never, ever, ever go down. Right. The type of policy that I'm speaking of, and let me be clear, this is not any life insurance policy. This is not the policy that you're going to go buy from your

[00:24:39] brother-in-law that sells life insurance. It is not that policy. This is a specifically designed, specially engineered whole life insurance policy in a mutual company that pays dividends. Okay. That's designed for high immediate cash value. One more time, high immediate cash value. And when I

[00:25:01] say immediate, it means take, when you put money into the policy within 30 days, you can access the cash value of that policy. So all the stuff that you've heard about, well, I got to put money in there and I got to let it sit for years. That is wrong. That is wrong. It's because of the way the policy is designed. And the one thing I'm going to add to that, because I know you've got listeners right now that are thinking this as I'm about to say it, they're thinking, well, what about that IUL,

[00:25:31] that index universal life? No, no, no, no. IUL is not used for infinite banking concept. If you tell Nelson Nash that you're using an IUL for policy, he will roll over in his grave and he's been there for six years. And if he's rolls, if he's rolling over six years later, we got some issues. I like it. I think the IUL is what I mistakenly had my first time around. It didn't work. So I walked

[00:25:58] away from everything I put into it. We see it all the time. We see it all the time. People get confused about what product they need to use for the infinite banking concept. An IUL is an investment. It goes on what's going on in the market. A whole life policy is not. It has no external factor. It doesn't matter if we have up markets, down markets. It doesn't matter if there's a pandemic,

[00:26:26] no pandemic. It does not matter what is going on. You have guaranteed growth in the policy. Contractually guaranteed. Every insurance company that I work with, because again, not only do you have guaranteed growth, you have dividends. Now, dividends aren't guaranteed, but every insurance company that I work with has been paying dividends for over 124 consecutive years without fail. The only

[00:26:56] thing we don't know is what the dividend is. That's the only thing that we don't know until after the dividend is declared. And just so you know, the projection of what the insurance company is going to tell you that it is, is going to be pretty much spot on. It could be a little up, could be a little down, but it's going to be pretty much spot on. But every year when the dividend is declared,

[00:27:21] it can never, ever be retracted or taken back. And that is all growth. That is all internal growth, the guaranteed growth, plus the dividend in your policy contract, no matter what happens in the external world. And it can never, ever, ever decrease. It can only get better each and every day, get better guaranteed. Let's talk about how it works as a banking system. So, and, and it takes

[00:27:47] time to build up some critical mass. Uh, even though you can access funds within 30 days, you know, there's not going to be a whole lot. And of course there are different ways to, to set up these policies. You can dump a bunch of cash in the beginning, or you can, uh, set it up. So you're putting 50 or a hundred grand in a year or less, whatever, however you want to structure it. But how does this build over time? Because my understanding is that it takes time. Like if you were going to go

[00:28:14] out and start a bank, like literally get a bank charter and start the bank of the Northeast, whatever, it's going to take time to build that or, or a credit union. How does that translate to one of these policies? How do you build it over time? And what does it look like functionally when you're using it as a banking system? Yeah. Anyway, great question. Now just keep in mind that once you start this, the time within 30 days, you can start using your banking system. Now let's just take two people.

[00:28:42] You have one person that puts in a hundred dollars a month. And then our largest client to date that I know about puts in $540,000 a month into his policy. Okay. Now, okay. So the way people can pay policy premium is it's totally up to you. We never tell you how much to put in your policy. You tell us what you want to put in. We got the guy putting in a hundred a month and the biggest guy putting in

[00:29:07] 540,000 a month. Just pick a number in between there. And the way you can pay it as monthly, quarterly, twice a year annually. You can always change how you pay it. You can always reduce the amount that you put in, but the same policy for the a hundred dollars a month is going to work the same way for the 540,000 a month. It works the same exact way. It's just the one guy has more

[00:29:31] money than the other guy. It's just that much more money working just as in comparison, right? Now, the thing we can do is, is also, and again, right? So this is what we do on strategy calls, like depending on where the client is at in their financial life or their goals or objectives or their plans or what's coming up. We specifically design that policy based on what their needs are

[00:29:57] over say the next 12 months, because two to three times a year, every four to six months, we will update your policy tools, what we call, which is called the cashflow analysis, the money multiplier map, the gains projector, the debt blaster, because everybody is at a different point in their financial life. But to answer your question is when you start putting money

[00:30:24] into that policy, you utilize it immediately and immediately is within 30 days. The very first policy that I started in February of 2008 was for $2,000 a month in premium. Why did I start with $2,000 a month? Because I didn't have $24,000 to put in in one lump sum, okay? But after I started

[00:30:50] that $2,000 a month, within 30 days, I accessed the cash value and I started using that to pay down debts, expenses, whatever it is that I want to use. Buy a car, buy a piece of chiropractic equipment, an x-ray machine, payroll, staff, buy real estate property, whatever it was, I used that money for whatever I'm going to use it for. And I'm going to play honest banker with myself and pay myself back.

[00:31:18] Now, I'm not required to pay myself back. I'm not required to pay back the insurance company if I take a policy loan, but it's good practice to practice the same way if you borrowed money from a conventional bank, you're going to pay them back with interest. So treat your money the same way you treat a bank's money. Why don't you think this is more popular? Great question. It's not more

[00:31:44] popular because it's outside of the box thinking. It's not what the norms are doing, right? The stuff that I'm telling you, if you go home and you tell your parents, your grandparents, your friends, your colleagues, or coworkers, they'll look at you like you have horns on your head. It's just not normal. You can't go to your financial planner, your accountant, your CPA, your tax advisor, whoever

[00:32:07] your pastor, your rabbi, whoever that is that you trust, because this is not a normal concept. It is not what the norm of people are doing. How are we taught? We're taught to go out and get a good job, go get a good education, get a good job, and work for 40 years. And the government will take care of you for the rest of your life. And oh, by the way, when you're doing that, let's max out your 401k, your IRA, your qualified plan, all of that governmental crap

[00:32:36] that doesn't work, that I talk to people on a weekly basis that take a bloodbath in those areas. They just do. They take a bloodbath. So you are relying on other people to get you wealthy. If you rely on this concept, the true tried concept that's been around for almost 200 years, go look and see how Walt Disney built Disneyland. Go research it. Go look and see how McDonald's got

[00:33:05] started. What did, how did he get the money to get started? Go look and see how Pampered Chef got started by a lady named Doris Christopher in the 1980s in her Chicago suburban home. How did she start that business, Pampered Chef? And then guess what? Later on, I think it was 2002, here comes Warren Buffett and says, let me give you $1.5 billion with a B dollars for your business, Pampered Chef.

[00:33:30] All those businesses, McDonald's, Pampered Chef, and Walt Disney, they may not ever exist if it wasn't for this concept of being able to use life insurance as a cash vehicle. I think there's also something to be said about the fact that Chase and Bank of America have huge marketing budgets and that's the mainstream, right? Thank you for bringing that up. So anyway, there's an author, his name is Barry Dyke. He wrote the book called Pirates of Manhattan. I recommend

[00:33:56] that you find that book. But like Barry Dyke talks about like conventional banks and stuff and how much they actually own in life insurance. Yeah. As a matter of fact, conventional banks are the number one purchasers of whole life insurance in the world. They own more in whole life insurance than all of their land and their buildings combined. Okay. Now, how can you check that out? And how can you prove that I'm telling you the truth? Go Google something called BOLI, B-O-L-I. It stands for

[00:34:25] bank owned life insurance and see the hundreds of pages that come up on how much life insurance conventional banks own. As a matter of fact, in the last 10, I guess, 12 years now, since 2013, conventional banks, Tate, they have quadrupled the amount of whole life insurance they have purchased. Quadrupled. Now, why are banks buying so much in whole life insurance? Is it because they're stupid or they know something the rest of us don't know? They know something the rest of us don't know.

[00:34:55] So all we're going to do, I don't want to reinvent the wheel. No, no, no. I don't ever want you to reinvent the wheel. Let's just go look and see what the wealthy have been doing for almost the last 200 years and follow in their footsteps. And that's what we're doing. We're just mimicking what the banks are doing and what the wealthy are doing. All right. You know, this is super compelling. I'm sure a lot of listeners are going, you know, okay, I'm interested, but I'm still,

[00:35:22] I don't understand the numbers behind this. Can you give us some examples of what this looks like from a numbers perspective for, for people who are a little more analytical and want to understand it from a mathematics perspective? Yep. So I have like just different charts and spreadsheets in my 90 minute presentation. So if there's anybody out there that's like, Hey, I'm curious and I need to know a little bit more. The first thing to do is go watch that 90 minute presentation on our website,

[00:35:51] themoneymultiplier.com. Okay. So who am I at the money multiplier? You're never going to write me a check for a dime. Even if you decide to work with us, you don't write me a check for a dime. I get paid one way, one way only. I get paid the same way your car insurance guy or gal gets paid. If you go to John Smith, the Allstate man to buy car insurance, you don't write a check to John Smith. You write a check to Allstate. Allstate pays John Smith a commission. Guess what happens most of the time with life

[00:36:20] companies? People start them just like you told me earlier, Tate, and you quit. You stop it. Why do you stop? Either because the policy was designed crappy and now you're realizing it, or you don't understand really that you have the Corvette sitting in the garage, but you don't know where the keys are. Right. It's either one of those two reasons. We have like one of the highest persistency ratios in the industry, which means when clients start policies, they don't quit because they see how powerful

[00:36:49] this concept is and how we design the policy for that high immediate growth. Now, why don't most agents tell you about this? Why don't they tell you about it? Is because in order to design your policy accurately for this concept, the agent has to take a 60 to a 90, 6-0 to 9-0, 60 to 90% cut in their

[00:37:14] commission and they're not willing to do it. They're not willing to take that hit. So if you really want to know more about it, go watch that 90 minute video. And if you don't want to watch the 90 minute video, find this book, Becoming Your Own Banker. Go to the podcast, The Money Multiplier podcast, go to chrisnaugle.com, N-A-U-G-L-E, follow that stuff. And then if that doesn't get you excited,

[00:37:43] then we probably need to check your pulse. Well, we'll link to all that in the show notes. Brent, thanks so much for coming on. This is super exciting. And I love your energy around all this. So can I offer one thing to your listeners? Of course. I wrote a book with Chris Noggle called Mapping Out the Millionaire Mystery. I wrote this book about five years ago, Mapping Out the Millionaire Mystery. If you send me an email, brent at themoneymultiplier.com,

[00:38:09] I will send you this ebook that I wrote, or I think you can go to our website and find it on there too for free and you can print it out or whatever you want to do. But Chris and I wrote that book and I'll offer that as a gift to all your listeners. Beauty. Brent at moneymultiplier.com. You heard it here. Brent, thanks so much. We look forward to bringing you back on sometime. Awesome, Tate. Thank you, man. I appreciate it. Thanks for the time. Thank you. Take care.

[00:38:37] Thank you.