Latest / Inside The Vault with Ash Cash / ITV #258: Marvin Mitchell Built a $12M Business With AI and No U.S. Employees | Inside The Vault

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ITV #258: Marvin Mitchell Built a $12M Business With AI and No U.S. Employees | Inside The Vault · Inside The Vault with Ash Cash

• 0:00
  [SPEAKER_01]: A.I.
• 0:00
  [SPEAKER_01]: is not here to take your job.
• 0:01
  [SPEAKER_01]: If you know A.I.
• 0:02
  [SPEAKER_01]: you're gonna take somebody else's job.
• 0:07
  [SPEAKER_01]: wealthy people, they never liquidate, they leveraged.
• 0:10
  [SPEAKER_01]: The government's not teaching you this.
• 0:11
  [SPEAKER_01]: The school system is not teaching you this.
• 0:13
  [SPEAKER_01]: Your jobs, they're not teaching you this.
• 0:15
  [SPEAKER_00]: I've literally like watch you 10x, 20x investments.
• 0:20
  [SPEAKER_01]: Your money can not grow beyond your mindset.
• 0:24
  [SPEAKER_01]: Your best investment is not the S&P 500.
• 0:26
  [SPEAKER_01]: It's the S&P 500.
• 0:27
  [SPEAKER_01]: Yeah, I made a lot of money.
• 0:29
  [SPEAKER_01]: I thought I was paying enough in taxes, but they said, hey, you owe 1.3 million.
• 0:33
  [SPEAKER_01]: Wow.
• 0:35
  [SPEAKER_01]: Hop, so that's, look, you don't have a plan for your money.
• 0:38
  [SPEAKER_01]: Your money will have a plan for you, and it's generally not good.
• 0:40
  [SPEAKER_01]: You don't get what you want and like it.
• 0:42
  [SPEAKER_01]: Who you are, so if you want more, be more.
• 0:45
  [SPEAKER_01]: There's a reason why why 77% of people run out of money.
• 0:49
  [SPEAKER_01]: You can't follow the crowd.
• 0:50
  [SPEAKER_01]: It's not what we need to learn.
• 0:52
  [SPEAKER_01]: It's actually what we need to unlearn.
• 0:54
  [SPEAKER_01]: See, we so busy thinking that we have to learn everything on a self.
• 0:57
  [SPEAKER_01]: When an answer is not a how, the answer is a who?
• 1:01
  [SPEAKER_00]: Joe, you ought to have picked that up right now to take advantage of that transfer of wealth that's happening.
• 1:11
  [SPEAKER_00]: You just mentioned it.
• 1:12
  [SPEAKER_00]: Learn AI.
• 1:17
  [SPEAKER_00]: I know y'all want to watch in that episode.
• 1:19
  [SPEAKER_00]: Listen, if you're an entrepreneur, business coach, business consultant or small business owner who has a story and wants to learn, how to create multiple streams of income from that story, I need your text me right now.
• 1:29
  [SPEAKER_00]: Text me my book to 646-687-4152.
• 1:31
  [SPEAKER_00]: That's my personal number.
• 1:35
  [SPEAKER_00]: I've been an author and publisher for over 15 years.
• 1:38
  [SPEAKER_00]: I've written over 40 books.
• 1:40
  [SPEAKER_00]: Seven of them have been bestseller and I sold over 250,000 copies.
• 1:45
  [SPEAKER_00]: But listen, I also help a lot of my clients take their expertise and put it into a story that creates multiple streams of income from that.
• 1:53
  [SPEAKER_00]: So I want to help you do the same thing.
• 1:55
  [SPEAKER_00]: So text me, my book, to 646-687-4152.
• 1:57
  [SPEAKER_00]: All right, let's get back to the show.
• 2:17
  [SPEAKER_00]: All right, so welcome to another awesome episode of Inside the Vote with Ascash, the greatest money mindset show on the planet.
• 2:24
  [SPEAKER_00]: Most people don't lose wealth because they don't make enough money.
• 2:29
  [SPEAKER_00]: They lose it because nobody ever taught them how to protect it.
• 2:33
  [SPEAKER_00]: Today's guest has spent more than two decades helping families build wealth that last while exposing the costly mistakes that is quietly destroying financial futures as the founder and president of campus, retirement solutions, Marvin Mitchell has helped over see hundreds of millions of dollars in assets but his real passion is making the financial strategies of the wealthy understandable for everyday people if you've ever
• 3:01
  [SPEAKER_00]: wondered how to keep more of what you earn, pay less in unnecessary taxes, and bill wealth, that outlives you, this is an episode you'll want to watch all the way through.
• 3:12
  [SPEAKER_00]: Ladies and gentlemen, round of applause for my brother.
• 3:15
  [SPEAKER_00]: What's up, man?
• 3:16
  [SPEAKER_00]: This is great to see you again, man.
• 3:18
  [SPEAKER_00]: We back, great to see you, man.
• 3:20
  [SPEAKER_00]: Back in the building, back in the build world, I'll start in this, sir.
• 3:24
  [SPEAKER_00]: I appreciate you, man.
• 3:25
  [SPEAKER_00]: So a couple of things, man.
• 3:27
  [SPEAKER_00]: I think number one.
• 3:29
  [SPEAKER_00]: You're still the top viewed podcast on inside the vault.
• 3:34
  [SPEAKER_00]: You know, our first episode, I want to say we did over 800,000 views.
• 3:40
  [SPEAKER_01]: It's about $157,000.
• 3:41
  [SPEAKER_00]: It's nowhere around there.
• 3:46
  [SPEAKER_00]: It was really a phenomenal episode because we talked about
• 3:49
  [SPEAKER_00]: infinite banking.
• 3:50
  [SPEAKER_00]: Right.
• 3:51
  [SPEAKER_00]: I think that it was the first time our culture heard about infinite banking in a way that was understandable and digestible to them.
• 4:01
  [SPEAKER_00]: Since then, you know, you know, obviously we've had a company together and we've
• 4:05
  [SPEAKER_00]: impacted millions of lives, you know, now you, I mean, you continue right two decades of, you know, being a financial wealth advisor, I'm just a advisor, but financial wealth advisor, where you're helping people protect, you know, make manager money, make manager multiply that money.
• 4:24
  [SPEAKER_00]: And so now you're continuing to do great things.
• 4:27
  [SPEAKER_00]: You're helping people get access to this big wealth transfer that's about the having trillions of dollars.
• 4:35
  [SPEAKER_00]: And so I want to talk about all of that because I think that there's a lot of people who are struggling right now, a lot of people who make money, who don't know how to build wealth.
• 4:44
  [SPEAKER_00]: But before we go there, for those who may not know, who is Marvin Mitchell?
• 4:50
  [SPEAKER_01]: Man, what's going on, man?
• 4:51
  [SPEAKER_01]: First off, I am a father.
• 4:53
  [SPEAKER_01]: It's a little bit of a father.
• 4:54
  [SPEAKER_01]: I have my, I have an eight year old and a 14 year old bonus daughter, family man.
• 5:00
  [SPEAKER_01]: But more importantly, man, I'm just somebody who, I just chill, man.
• 5:04
  [SPEAKER_01]: I just vibe.
• 5:05
  [SPEAKER_01]: I like to travel.
• 5:06
  [SPEAKER_01]: I don't do a lot, man.
• 5:07
  [SPEAKER_01]: I'm not outside a lot, but what I do like to do is I like to grow myself.
• 5:12
  [SPEAKER_01]: I like to develop myself.
• 5:14
  [SPEAKER_01]: I consider myself spiritual, not religious, but spiritual, and I like to see other people grow.
• 5:19
  [SPEAKER_01]: Like I like to pour into people when I see the results, man.
• 5:22
  [SPEAKER_01]: It gives me pleasure to see somebody else win.
• 5:25
  [SPEAKER_01]: So that's who I am.
• 5:26
  [SPEAKER_00]: Yes, sir.
• 5:27
  [SPEAKER_00]: And so you've been in this financial advisor space of wealth space for two decades, and talk about the number one thing
• 5:44
  [SPEAKER_00]: to manage and multiply and we've rolled it well.
• 5:49
  [SPEAKER_01]: The interesting thing about that ash is that it's not what we need to learn is actually what we need to unlearn Because there's a lot of things that people think that are true that are just not so.
• 6:00
  [SPEAKER_01]: So there are things that people know that they know If you know that you know it, you don't need to look it up.
• 6:05
  [SPEAKER_01]: There are also things that people know that they don't know.
• 6:07
  [SPEAKER_01]: If you know that you don't know it, you can look it up on YouTube, you can take a class.
• 6:11
  [SPEAKER_01]: But what about the things that you don't know that you don't know?
• 6:14
  [SPEAKER_01]: If you don't know that you don't know it, how can you look it up on YouTube?
• 6:17
  [SPEAKER_01]: You don't even know to look it up, right?
• 6:18
  [SPEAKER_01]: It's called a blind spot, so I have to reveal some of those blind spots.
• 6:22
  [SPEAKER_01]: So for years, people have been told the way to success was to, you know, go to school, get an education, you know, if you go get higher education, pay for college, get student loans,
• 6:33
  [SPEAKER_01]: Once you get student loans, then go get a job, which means you've got to pay off those student loans, then you've got a family, you get a house, you pay the interest, you try to pay off the house as quickly as possible, and then you've got to, as you're paying off those loans, you're building your money up in a 401k, it's growing tax defer.
• 6:49
  [SPEAKER_01]: You can't touch that money for about
• 6:51
  [SPEAKER_01]: You know, 30, 40 years or else you would get a 10% penalty when you finally do need that money.
• 6:56
  [SPEAKER_01]: They don't tell you that taxes might go up and now you got to pay taxes on all of that money.
• 7:00
  [SPEAKER_01]: The problem is that people don't find it out until it's too late.
• 7:04
  [SPEAKER_01]: They've been attempting to save their way too well.
• 7:07
  [SPEAKER_01]: for so long, and then they realized, eventually, when they're 60, 70, that I can't save my way to wealth.
• 7:13
  [SPEAKER_01]: There are so many people that are retirement rich, because all of them money are in every retirement plans, but they're cash poor.
• 7:19
  [SPEAKER_01]: So they still feel like they're strapped.
• 7:21
  [SPEAKER_01]: And then they realized they can't even touch that retirement money without their huge penalty and without a lot of taxes and the taxes go up there and trouble.
• 7:28
  [SPEAKER_01]: So I try to help people to rewire the old way
• 7:32
  [SPEAKER_01]: and try to figure out a new way, because there's a reason why, why 77% of people run out of money, you can't follow the crowd.
• 7:38
  [SPEAKER_00]: Wow, wow, wow, wow, wow, and it's all gonna be a bit about, like, how do you change that paradigm, right?
• 7:45
  [SPEAKER_00]: Because a lot of people, like you said, are retirement rich, they're older people who,
• 7:51
  [SPEAKER_00]: to be honest, I stuck in their ways number one, but number two, in some ways have been burnt by the system, right?
• 7:57
  [SPEAKER_00]: Like they listen to this advice, they've got a job, they worked hard, and they found themselves in debt traps.
• 8:04
  [SPEAKER_00]: And now they're, you know, in that age, right, they might be, you know, in a late 30s, late 40s, late 50s even, who are now saying, man, like, you know, I just give up, you know what I'm saying?
• 8:16
  [SPEAKER_00]: How do you how do you help them change that
• 8:19
  [SPEAKER_01]: Yeah, the first thing I would tell people if you're in your 20s, 30s, 40s is
• 8:23
  [SPEAKER_01]: Don't ignore the wisdom of people who are 67 years old.
• 8:27
  [SPEAKER_01]: I don't care if they're successful or not successful in your eyes.
• 8:31
  [SPEAKER_01]: There's wisdom, because I'll tell you this.
• 8:33
  [SPEAKER_01]: When I talk to somebody that's 60 and 70, I don't gotta tell them anything.
• 8:36
  [SPEAKER_01]: They're already frustrated enough because they followed the same paths that we're being told at 30, 40 and 50.
• 8:43
  [SPEAKER_01]: And they already noted need to go a different direction that they don't, the next generation is gonna be worse.
• 8:48
  [SPEAKER_01]: The best thing that they say is hey, I wish I would have met you 23 years ago.
• 8:51
  [SPEAKER_01]: Problem is, is that 30, 40 euros don't want to get the wisdom from those individuals.
• 8:56
  [SPEAKER_01]: Yeah.
• 8:56
  [SPEAKER_01]: So when I meet somebody who's been going a wrong way, and I transformed them and and I looked to change their identity, which I'll talk about.
• 9:04
  [SPEAKER_01]: The identities of a debtor, a saver, or wealth creator.
• 9:09
  [SPEAKER_01]: Once that identity shifts, and they get it.
• 9:13
  [SPEAKER_01]: Then I can tell them, let me show you why you're not too late.
• 9:16
  [SPEAKER_01]: See, people work for 34 years to try to get a million dollars just so that they can take out 5% which is 50,000.
• 9:23
  [SPEAKER_01]: They got to pay the taxes, which is 36,000, which equates to $3,000 a month.
• 9:28
  [SPEAKER_01]: I say, what about you show you how to make that $3,000 a month in less than a year?
• 9:31
  [SPEAKER_01]: Then you would have made more than your million dollar portfolio would have produced.
• 9:34
  [SPEAKER_01]: You know, I can show you how to make the $3,000 against it.
• 9:36
  [SPEAKER_01]: You would have made more than so security in your pension if you have one would have produced.
• 9:40
  [SPEAKER_01]: So you can do what it took people 30, 40 years to do and one of two years if you simply know the system in the structure.
• 9:47
  [SPEAKER_01]: So I have people to really develop that pathway so that they have the system in the structure.
• 9:54
  [SPEAKER_01]: So they don't have to wait on the government, but they can take control for themselves.
• 9:57
  [SPEAKER_00]: Yeah, yeah.
• 9:58
  [SPEAKER_00]: Oh, I love that.
• 9:58
  [SPEAKER_00]: I love that.
• 9:59
  [SPEAKER_00]: Talk about that, right?
• 9:59
  [SPEAKER_00]: So you said you got to change your identity.
• 10:02
  [SPEAKER_00]: You got a debtor, a saver and a well-creator.
• 10:05
  [SPEAKER_00]: Talk a little bit about that.
• 10:06
  [SPEAKER_01]: Great questions.
• 10:07
  [SPEAKER_01]: There's a layup right there.
• 10:09
  [SPEAKER_01]: All right.
• 10:09
  [SPEAKER_01]: So there's three different types of people when it comes to money.
• 10:11
  [SPEAKER_01]: The debtor, the saver and the wealth created.
• 10:13
  [SPEAKER_01]: The debtor, they just go into debt and then they spend their life attempting to get out of debt.
• 10:18
  [SPEAKER_01]: So then they go into debt again and they take one step forward, two steps back.
• 10:22
  [SPEAKER_01]: They are mortgaging their future by spending it all in their present, yeah, in beyond, right?
• 10:29
  [SPEAKER_01]: Their goal is to get back to zero.
• 10:30
  [SPEAKER_01]: The problem is, even if they become debt free and get to zero, they're still poor because they don't have any assets.
• 10:36
  [SPEAKER_01]: They didn't save or they didn't invest.
• 10:38
  [SPEAKER_01]: The saver, they're the opposite.
• 10:40
  [SPEAKER_01]: They don't want to go and debt.
• 10:42
  [SPEAKER_01]: They go to the extreme.
• 10:43
  [SPEAKER_01]: They say, I want to say, so they say, say, save and didn't pay cash.
• 10:46
  [SPEAKER_01]: They say, say, save again and didn't pay cash.
• 10:49
  [SPEAKER_01]: The problem is is that when they say they pay cash, they are stopping the former momentum of their money, which means not they spent it.
• 10:56
  [SPEAKER_01]: They have to build it back.
• 10:57
  [SPEAKER_01]: Their losing was called opportunity cost.
• 10:59
  [SPEAKER_01]: Opportunity cost is a money that they could have earned, had they not spent.
• 11:03
  [SPEAKER_01]: that money.
• 11:04
  [SPEAKER_01]: But what if there was a way that you could keep that money continuing to grow uninterrupted, compound it, even when you use the money, and you borrow against the money, it's still growing as if you never touched it.
• 11:15
  [SPEAKER_01]: If that happened, then your money can grow extremely exponentially faster because you don't have to continue to stop that for a moment of a money.
• 11:22
  [SPEAKER_01]: So I teach people how to grow their money, but also how to leverage their money while the continues to grow.
• 11:28
  [SPEAKER_01]: So that money can work two to three times off the same dollar.
• 11:30
  [SPEAKER_00]: Wow.
• 11:31
  [SPEAKER_00]: Wow.
• 11:31
  [SPEAKER_00]: And I love that because one of the philosophies that I've always taught, you know, is you have the change of relationship with money instead of working hard for money, money needs to work hard for you.
• 11:42
  [SPEAKER_00]: What is the first step for somebody who is, you know, because like we see a lot of the people who we call Henry's, right?
• 11:49
  [SPEAKER_00]: They might be a high earner, not rich yet, you know what I'm saying?
• 11:53
  [SPEAKER_00]: So like what is the first step for that person who is saying to themselves, all right?
• 11:58
  [SPEAKER_00]: I make money, I got money, but I'm catching myself in this in a cycle level.
• 12:03
  [SPEAKER_00]: Yeah, and I want us, I want to create well for myself.
• 12:06
  [SPEAKER_01]: Yeah, we talked about this before, as this is called lifestyle creep, right?
• 12:09
  [SPEAKER_01]: Yeah.
• 12:10
  [SPEAKER_01]: So, you know, I'm sure a lot of you can relate to me.
• 12:12
  [SPEAKER_01]: You went out, you got a promotion, you made more money, you look back at the end of the year, you have no idea what that money went.
• 12:19
  [SPEAKER_01]: You said I made more, it don't look like my lifestyle increased that much, but I'm broke.
• 12:23
  [SPEAKER_01]: It's because,
• 12:25
  [SPEAKER_01]: unintentionally if you don't have a plan for your money your money will have a plan for you and it's generally not good in fact right so you've got to have a plan I don't like the use of word budget I use the word spending plan to me got this for you spending plan I mean budget is just restrictive facts you taught me as the power of your words yeah so if I'm saying budget restrict it
• 12:48
  [SPEAKER_01]: I'm actually attracting that lack into my life, because I'm attracting what I can't do.
• 12:54
  [SPEAKER_01]: But if I say spending plan, now that gives me the power that gives me the authority that gives me the abundance and depth and life is in the power of the tongue, if I'm giving the spending plan, I'm telling my money where to go.
• 13:03
  [SPEAKER_01]: As long as I tell my money where to go, it don't hit zero, I can do whatever I want to do, but I gotta create the spending plan.
• 13:09
  [SPEAKER_01]: So that's what I would tell people.
• 13:11
  [SPEAKER_01]: If you're a high income earner, first let's reset your foundation.
• 13:15
  [SPEAKER_01]: And once we reset your foundation, don't do nothing stupid or crazy.
• 13:18
  [SPEAKER_01]: And what I mean by that is there are three levels of wealth where I want your money to go.
• 13:23
  [SPEAKER_01]: There is the foundation, there is the core, and then there is speculative.
• 13:27
  [SPEAKER_01]: Let me tell you what most people do.
• 13:29
  [SPEAKER_01]: They go out and they listen to a podcast out there.
• 13:31
  [SPEAKER_01]: They go out and they look at the TV show or some influence they're on the internet.
• 13:35
  [SPEAKER_01]: That's talking about putting their money into these penny stocks.
• 13:39
  [SPEAKER_01]: So crypto and different things like that.
• 13:40
  [SPEAKER_01]: I'm not saying crypto is bad, but you got a person who hasn't saved the dime.
• 13:44
  [SPEAKER_01]: Now, all of a sudden, thinking that there are crypto experts putting their money into crypto, right?
• 13:48
  [SPEAKER_01]: But we tell people, look, the foundation is making sure that, first off, you've got your emergency fund.
• 13:53
  [SPEAKER_01]: You also got to make sure that you have, of course, at three to six months of living expenses, but then you want to make sure that you have the proper insurance.
• 13:59
  [SPEAKER_01]: And it could be turned, but it also could be properly funded insurance that I talk about when you get the highest amount of cash value for the lowest amount of death benefit, then you can actually borrow against that, right?
• 14:09
  [SPEAKER_01]: So once you build that foundation, get all your insurance, your trust, everything, your protection, then you want to move towards your core.
• 14:16
  [SPEAKER_01]: Now your core is boring.
• 14:17
  [SPEAKER_01]: Right.
• 14:18
  [SPEAKER_01]: For your core, we're talking about buying a whole ETFs.
• 14:21
  [SPEAKER_01]: We're talking about Ben Gore, fidelity.
• 14:23
  [SPEAKER_01]: We're talking about, you know, just putting your money aside.
• 14:27
  [SPEAKER_01]: The reason why we want to do that is because we can now borrow against that account too and go out and do things like buy real estate and have your money working multiple times off the same time.
• 14:35
  [SPEAKER_01]: So we can borrow from the insurance now we can borrow a mortgage account against your equities that you built that up and now what you built that core foundation now We can look to be speculative with about 10 to 10 to 20 percent if you choose to be spec so people don't But if so if I want to do some penny stocks or if I want to get some crypto or if I want to buy and to like start up businesses I want to take a risk.
• 14:54
  [SPEAKER_01]: I want to take a chance
• 14:56
  [SPEAKER_01]: You can do that because your core and your foundation is taking care of too many people don't invest in a right thing And too many people don't invest in themselves.
• 15:04
  [SPEAKER_01]: Yeah, so we try to tell people look your best investment is not the S&P 500 You know this is the S&P 500 right so once you learn to do that and you work on your mindset Yeah, your skillset and your financial literacy We're talking about you can be a different person within a year if you committed to that.
• 15:21
  [SPEAKER_01]: Yeah
• 15:21
  [SPEAKER_00]: Can you have, can you have wealth with, without with missing a piece of those values and your mindset skills get and financial literacy, because I see a lot of people who study skills, right, they study skills that or they have a skills that they study financial literacy, but they're still, you know, you know, struggling if you will.
• 15:41
  [SPEAKER_00]: I know people who.
• 15:43
  [SPEAKER_00]: might have a right mindset, if you will.
• 15:46
  [SPEAKER_00]: You know, might have some skills, but they don't know financial literacy, right?
• 15:50
  [SPEAKER_00]: Like, is there a scenario in which all three, you know, you don't need all three or is all three required?
• 15:59
  [SPEAKER_00]: You know, as a 20 year, you know, you know, financial wizard, financial vet is all three required.
• 16:05
  [SPEAKER_01]: First of all, let me say, man, you, your questions are even better than I remember now.
• 16:09
  [SPEAKER_01]: You, you, you, you are like the, the Oprah in this space, sir.
• 16:13
  [SPEAKER_01]: Yes, sir.
• 16:13
  [SPEAKER_01]: Or you, you.
• 16:14
  [SPEAKER_01]: So I just want to let you know I appreciate that.
• 16:16
  [SPEAKER_01]: But no, um, That's, that's a good question.
• 16:19
  [SPEAKER_01]: Yeah.
• 16:19
  [SPEAKER_01]: So I would say yes and no, is it possible to inherit great wealth?
• 16:23
  [SPEAKER_01]: Yes.
• 16:24
  [SPEAKER_01]: Is it possible to keep it without those things?
• 16:26
  [SPEAKER_01]: No.
• 16:27
  [SPEAKER_01]: I, yeah.
• 16:28
  [SPEAKER_01]: Well, the Bible says wealth and heritage quickly will soon be diminished.
• 16:33
  [SPEAKER_01]: So I want you to think about that.
• 16:34
  [SPEAKER_01]: And life tells you that, over and over, this isn't just the word.
• 16:37
  [SPEAKER_01]: Think about how many people want a lottery end up broke, worse than they were before, and worse debt.
• 16:43
  [SPEAKER_01]: Because see, if you don't have the mindset beforehand and you get the money, that mindset is gonna actually make you worse.
• 16:51
  [SPEAKER_01]: If you're a good person, before you have money, you're gonna be a better person when you get money.
• 16:54
  [SPEAKER_01]: If you're a bad person, before you're gonna be a good person, before you're gonna be a better person.
• 17:00
  [SPEAKER_01]: So money is an amplifier.
• 17:01
  [SPEAKER_01]: It's an amplifier.
• 17:02
  [SPEAKER_01]: Yeah.
• 17:03
  [SPEAKER_01]: So here's the problem.
• 17:05
  [SPEAKER_01]: Your money cannot grow beyond your mindset.
• 17:08
  [SPEAKER_01]: Ooh.
• 17:09
  [SPEAKER_01]: It can get there for a second, but it won't stay there because if you look at the illustration, let's just say this is your mindset.
• 17:16
  [SPEAKER_01]: Let's just say this is your money.
• 17:18
  [SPEAKER_01]: Your money got to catch up with that mindset eventually, because your mind said it's going to force you to develop the skillsets.
• 17:24
  [SPEAKER_01]: So it's what the mindset, your mindset will tell you to develop the skillset to get your money book.
• 17:28
  [SPEAKER_01]: But then if your mindset is here and then your money is here, again, it got to catch up.
• 17:32
  [SPEAKER_01]: The money can't stay there, so the money is going to come down and maybe even worse before.
• 17:37
  [SPEAKER_01]: So I tell people, if you focus on just developing your mindset, what does that mean?
• 17:41
  [SPEAKER_01]: What are you reading?
• 17:42
  [SPEAKER_01]: What are you looking at?
• 17:43
  [SPEAKER_01]: What are you putting into your mind?
• 17:44
  [SPEAKER_01]: What are you listening to inside the vault?
• 17:48
  [SPEAKER_01]: or you're going looking at disperse housewives.
• 17:50
  [SPEAKER_01]: Like, what do you pay a more attention to and once you begin to develop that in rebuts and watch shows and talk to people who are smarter than they are and don't be afraid to get a mentor and pay for their advice.
• 18:00
  [SPEAKER_01]: Every time you do that, you're a land another brick.
• 18:02
  [SPEAKER_01]: Boom, my pay for this mentor's here.
• 18:04
  [SPEAKER_01]: Boom, boom, my read this book.
• 18:06
  [SPEAKER_01]: Boom, and guess what has the fall of behind?
• 18:08
  [SPEAKER_01]: Your money.
• 18:09
  [SPEAKER_01]: It's simple.
• 18:09
  [SPEAKER_00]: Yeah.
• 18:10
  [SPEAKER_01]: Money is energy.
• 18:11
  [SPEAKER_00]: Yeah, and I love the way you just broke that down so much
• 18:16
  [SPEAKER_00]: We hear stories so much about people who have had a lot of wealth, and then lost it all.
• 18:22
  [SPEAKER_00]: We have the people who may have not have well, who were able to build it.
• 18:28
  [SPEAKER_00]: And that illustration of the mindset of how your money will always match your mindset.
• 18:33
  [SPEAKER_00]: I forget who said this, but they say, you don't get what you want in life.
• 18:37
  [SPEAKER_00]: Get who you are.
• 18:39
  [SPEAKER_00]: And so at the end of the day, who you are is connected to the mind.
• 18:43
  [SPEAKER_00]: And so if you want more, be more.
• 18:45
  [SPEAKER_01]: Oh man, that's good.
• 18:46
  [SPEAKER_01]: Yeah, that's good.
• 18:48
  [SPEAKER_01]: And also to add to that, you know, because when you do be and you become and you get the money, you're still not done.
• 18:57
  [SPEAKER_01]: You got to be something else because getting the money is almost like getting married.
• 19:01
  [SPEAKER_01]: Getting married is one thing.
• 19:03
  [SPEAKER_01]: You still got to live the marriage, right?
• 19:05
  [SPEAKER_01]: You can get the money, but put yourself into a, if you don't have the mindset to go to the next level, you constantly elevate in a different level, right?
• 19:14
  [SPEAKER_01]: I know so many people, I'm sure you know so many people too, as they made the money, they were flashed and they were going on their victory tour.
• 19:23
  [SPEAKER_01]: They were having all of this fun.
• 19:25
  [SPEAKER_01]: But they didn't go to the next level.
• 19:27
  [SPEAKER_01]: And then let me tell you what took them out.
• 19:29
  [SPEAKER_01]: The IRS.
• 19:30
  [SPEAKER_01]: the government the government said okay go ahead and flash and have your fun time now but guess what you ain't really guess what you didn't pay the tax yeah yeah they think they pay the taxes in the government come unexpected and say oh by the way you owe another tax bill and by the way this for two years ago you're like what the hit so all the money that you say if you don't learn the next steps on how to keep that wealth you will lose it there are so many people that are extremely wealthy yeah yeah then lost it
• 19:54
  [SPEAKER_01]: when bankrupt most because of the IRS but also making bad financial decisions.
• 19:58
  [SPEAKER_00]: Can you talk about that for a second because I know that you actually had something recently where you like the IRS came not going to your door and he was like listen I need let me get that one point three let me get that money.
• 20:10
  [SPEAKER_00]: Yeah.
• 20:10
  [SPEAKER_00]: And then somehow I don't know if you if you related to David playing I don't know what happened but somehow you were able to reduce that and you talk a little bit about it.
• 20:18
  [SPEAKER_01]: Yeah man, that's that's truly I've evolved a lot over the past two or three years.
• 20:24
  [SPEAKER_01]: I mean, I was I was that person who I was enjoying making a money.
• 20:27
  [SPEAKER_01]: I was enjoying doing this.
• 20:29
  [SPEAKER_01]: I had the flash you called you notice I had the Lamborghini.
• 20:32
  [SPEAKER_01]: I had the Rose Royce.
• 20:33
  [SPEAKER_01]: I had all of this.
• 20:35
  [SPEAKER_01]: And, um, and, and, and, and, and a million dollar house, that's your living.
• 20:39
  [SPEAKER_01]: Couple of me.
• 20:39
  [SPEAKER_00]: I still got that.
• 20:40
  [SPEAKER_00]: Okay.
• 20:40
  [SPEAKER_01]: But that, but I did, I did.
• 20:42
  [SPEAKER_01]: I sold the car.
• 20:43
  [SPEAKER_01]: Oh, all right.
• 20:43
  [SPEAKER_01]: I don't know if you knew that.
• 20:44
  [SPEAKER_01]: I sold the Lamborghini.
• 20:45
  [SPEAKER_01]: I sold the Rover.
• 20:46
  [SPEAKER_01]: Not because I couldn't afford it.
• 20:47
  [SPEAKER_01]: It's just because my priority shift in my priority change.
• 20:50
  [SPEAKER_01]: Yeah.
• 20:51
  [SPEAKER_01]: So what happened was I made a lot of money on one year and I thought I was paying enough in taxes But apparently I wasn't so they came to my door and the situation not literally to my door But I got a letter.
• 21:03
  [SPEAKER_01]: Yeah.
• 21:03
  [SPEAKER_01]: They said hey you owe 1.3 million.
• 21:07
  [SPEAKER_01]: So I was like 1.3 million
• 21:10
  [SPEAKER_01]: Now, I didn't have 1.3 million liquid right I'm like 1.3 million or you I don't care how much money you make that's going to make your heart be the best out of 1.3 million I don't care if 100,000 I'm like I'm right so so that's really truly a moment that changed my life recently because I realized that
• 21:28
  [SPEAKER_01]: I didn't know nearly everything there was and no and I needed to pay for some mentorship and help.
• 21:33
  [SPEAKER_01]: So I paid a couple hundred thousand dollars to some high-level tax experts to really help me to figure out how to minimize that tax bill.
• 21:41
  [SPEAKER_01]: So I paid this money and I was able to take that one point three million dollars down to under two hundred thousand dollars.
• 21:48
  [SPEAKER_01]: So I want you to imagine, I say it about $1.1 million.
• 21:51
  [SPEAKER_01]: If I had not have done that, and a lot of people afraid to say you paid them $200,000, they ripping you off.
• 21:57
  [SPEAKER_01]: But if I didn't pay them $200,000, it would have cost me $1.1 billion, which one was more exactly.
• 22:01
  [SPEAKER_01]: Right?
• 22:02
  [SPEAKER_01]: So some of the skills that I learned, like literally just showed me that, if I had been a financial advisor for 21 years.
• 22:11
  [SPEAKER_01]: If I didn't know that, right, how much more do other people don't know who don't have a set of the table?
• 22:17
  [SPEAKER_01]: That's what I mean.
• 22:17
  [SPEAKER_01]: They're not the government.
• 22:18
  [SPEAKER_01]: Not teaching you this.
• 22:20
  [SPEAKER_01]: The school system is not teaching you this.
• 22:23
  [SPEAKER_01]: You know, your jobs.
• 22:24
  [SPEAKER_01]: They're not teaching you this.
• 22:25
  [SPEAKER_01]: Unfortunately, you got to learn it by talking to the right people and sitting at the right tables.
• 22:30
  [SPEAKER_01]: And if you can't afford those right tables, yeah.
• 22:32
  [SPEAKER_01]: You've been to learn to afford it because every table not free.
• 22:35
  [SPEAKER_01]: I had to pay a lot of money to learn what I know.
• 22:37
  [SPEAKER_00]: Now, I think I think collectively when we had the business together, probably 400,500,000.
• 22:45
  [SPEAKER_00]: At least, at least, of money that was invested in mentorship.
• 22:52
  [SPEAKER_01]: You actually got to go more than that because even people we brought on our stage, that was a part that was, you got to count that as we're invested in that.
• 22:59
  [SPEAKER_00]: So we're over a million.
• 23:00
  [SPEAKER_00]: Over a million, right?
• 23:02
  [SPEAKER_00]: How important is investing in yourself, investing in mentorship, because I've literally and I've learned a lot from you.
• 23:12
  [SPEAKER_00]: I've literally like watch you, you know, 10x, 20x investments, you know, I'm from Holland and Holland.
• 23:21
  [SPEAKER_00]: We have a saying, scared money don't make me it, right?
• 23:24
  [SPEAKER_00]: How important is it to invest in mentorship?
• 23:27
  [SPEAKER_01]: And at what point does somebody do that?
• 23:30
  [SPEAKER_01]: So two quick stories for you, the first story, I began to believe in a power of investing myself by accident.
• 23:37
  [SPEAKER_01]: When I first became a financial advisor, as you know, we're paid on commission.
• 23:40
  [SPEAKER_01]: So if we don't make any new clients, we didn't make any money during their particular time for end.
• 23:44
  [SPEAKER_01]: That's when I worked at Edward Jones.
• 23:46
  [SPEAKER_01]: I had just bought a house, my mortgage was like $1,300 a month.
• 23:52
  [SPEAKER_01]: And that entire month I didn't close anybody I got a couple residuals from a previous month.
• 23:57
  [SPEAKER_01]: It was a horrible month.
• 23:58
  [SPEAKER_01]: I got an $80 check.
• 24:00
  [SPEAKER_01]: Wow, that was my entire check for a month.
• 24:02
  [SPEAKER_01]: Remember, my mortgage was 1300.
• 24:03
  [SPEAKER_01]: I couldn't afford to pay that mortgage during that time.
• 24:06
  [SPEAKER_01]: So I remember I went to church and I said, OK, God, I don't have any money to pay this mortgage.
• 24:12
  [SPEAKER_01]: You're going to take this last $80.
• 24:13
  [SPEAKER_01]: You're going to have to multiply like you did the two fish and apply load.
• 24:16
  [SPEAKER_01]: You got to do something.
• 24:17
  [SPEAKER_00]: Right.
• 24:18
  [SPEAKER_01]: So I gave it, not thinking nothing, right?
• 24:20
  [SPEAKER_01]: The next day, there was an advisor conference where there was about 150 advisors there.
• 24:26
  [SPEAKER_01]: And I didn't notice, but they actually drew my name out of a bucket.
• 24:30
  [SPEAKER_01]: It was a random bucket, and I got a $500 gift card.
• 24:34
  [SPEAKER_01]: Now, keeping my $500 was enough to still cover their mortgage, but what it did, and installed the belief system in me, that anything that I planned into good ground will multiply a step 10 vote.
• 24:46
  [SPEAKER_01]: That was the first time I believe they remember my words a powerful, so I kept repeating it.
• 24:50
  [SPEAKER_01]: Anything that I'm multiplying to good ground will multiply a set of 10-fold.
• 24:54
  [SPEAKER_01]: So when I had my first opportunity to invest, I remember it was like $1,000, right?
• 24:58
  [SPEAKER_01]: I made 10.
• 24:59
  [SPEAKER_01]: Literally.
• 25:00
  [SPEAKER_01]: And then when I was able to do 10,000, I made over 100,000.
• 25:03
  [SPEAKER_01]: Then when I was able to invest $100,000, you know, I did $100,000 into our shares, my own gold and other people like that.
• 25:10
  [SPEAKER_01]: When I was able to invest that, I made well over a million dollars.
• 25:13
  [SPEAKER_01]: And I remember when I spent $200,000 to spend a day with one of my mentors' shares, it helped me to make $5 million.
• 25:21
  [SPEAKER_01]: Right.
• 25:22
  [SPEAKER_01]: So then I was like, Oh my God.
• 25:24
  [SPEAKER_01]: This is true.
• 25:24
  [SPEAKER_01]: Everything that I've planted into good ground will multiply a sub tenfold and I truly believe that.
• 25:29
  [SPEAKER_01]: So so many people never get the harvest because their clench and their fists hold it on to the sea thinking that they're seed is the harvest.
• 25:36
  [SPEAKER_01]: And unless you release the sea, you can get the harvest.
• 25:38
  [SPEAKER_01]: Yeah.
• 25:38
  [SPEAKER_01]: And I tell people that an uncommon sea produces an uncommon harvest.
• 25:43
  [SPEAKER_01]: Right.
• 25:44
  [SPEAKER_01]: So the Bible says, though, those who sew those who so spirantly, would also re-spirantly.
• 25:50
  [SPEAKER_01]: And those who sew abundantly, boundfully, would also reap boundfully.
• 25:55
  [SPEAKER_01]: Yeah.
• 25:55
  [SPEAKER_01]: So that's the first thing I believe.
• 25:57
  [SPEAKER_01]: The second story is,
• 25:59
  [SPEAKER_01]: the parable of the talents in Matthew, they talk about there was a master who gave three different people a talent according to their ability.
• 26:09
  [SPEAKER_01]: The master he came and he gave one person one talent, he gave the second person, two towns, his leg money and then he gave the third person five talents.
• 26:17
  [SPEAKER_01]: And then he went away.
• 26:18
  [SPEAKER_01]: The person who he gave one talent to was so afraid that he would lose that talent that he actually buried it in the ground.
• 26:24
  [SPEAKER_01]: He said, I know that the master is a person who reaps in places that he does not so.
• 26:29
  [SPEAKER_01]: I will not lose this money.
• 26:30
  [SPEAKER_01]: I will protect this money with my dear life is what he said.
• 26:33
  [SPEAKER_00]: Yeah.
• 26:34
  [SPEAKER_01]: The person that they gave two to took some risk, multiplied the four when he gave five to multiplied turned to 10.
• 26:41
  [SPEAKER_01]: The master went away.
• 26:43
  [SPEAKER_01]: He came back to collect his money.
• 26:44
  [SPEAKER_01]: He went to the one he gave one talent saying, hey, what you do with the talent that I gave you.
• 26:48
  [SPEAKER_01]: He said, master, you're going to be so proud of me.
• 26:51
  [SPEAKER_01]: I protected that money with my dear life.
• 26:53
  [SPEAKER_01]: I did not lose that money.
• 26:54
  [SPEAKER_01]: Yeah, no, with the master said, he said,
• 26:58
  [SPEAKER_01]: Give me that.
• 26:59
  [SPEAKER_01]: You will be cast away whatever will be weeping and nation of teeth.
• 27:03
  [SPEAKER_01]: Wow.
• 27:03
  [SPEAKER_01]: You did not multiply.
• 27:05
  [SPEAKER_01]: She like I told you to.
• 27:06
  [SPEAKER_01]: Yeah.
• 27:07
  [SPEAKER_01]: He took that talent and he gave it to the one who turned five to ten.
• 27:10
  [SPEAKER_01]: So my question for you is who was a hero in that story?
• 27:13
  [SPEAKER_01]: Mm-hmm.
• 27:14
  [SPEAKER_01]: Right.
• 27:14
  [SPEAKER_00]: Yeah.
• 27:14
  [SPEAKER_00]: Yeah.
• 27:15
  [SPEAKER_01]: Most people are going to say, well part of my the one who turned five to ten.
• 27:19
  [SPEAKER_01]: Mm-hmm.
• 27:19
  [SPEAKER_01]: Yeah, it makes sense.
• 27:21
  [SPEAKER_01]: He did it great, but he wasn't a hero.
• 27:23
  [SPEAKER_01]: I want you to understand a hero.
• 27:24
  [SPEAKER_01]: The hero was a master.
• 27:26
  [SPEAKER_01]: Let me explain why.
• 27:27
  [SPEAKER_01]: The master, first off, he was diligent.
• 27:29
  [SPEAKER_01]: He grew his mindset.
• 27:31
  [SPEAKER_01]: He didn't just give the money out freely.
• 27:33
  [SPEAKER_01]: The mindset told him to give to each one, according to their ability.
• 27:38
  [SPEAKER_01]: So he had already knew that the one wasn't proving yet.
• 27:41
  [SPEAKER_01]: So he only gave him one.
• 27:42
  [SPEAKER_01]: The one he gave five to, he trusted that person more.
• 27:45
  [SPEAKER_00]: Yeah.
• 27:45
  [SPEAKER_01]: Then he went away.
• 27:46
  [SPEAKER_01]: What does that mean?
• 27:47
  [SPEAKER_01]: He was sitting on the beach, chilling.
• 27:49
  [SPEAKER_01]: While they were out working, he was using other people's efforts, other people's talents, other people sitting in the ceiling while he's out chilling, right?
• 27:56
  [SPEAKER_00]: Yeah.
• 27:56
  [SPEAKER_01]: then what he did was he went back and he diagnosed the situation and he said, okay, you didn't do good.
• 28:04
  [SPEAKER_01]: I'm going to take this from you and give it to the one who's winning.
• 28:07
  [SPEAKER_01]: I'm going to cash you to the side because you no longer can be a part of my investment portfolio.
• 28:12
  [SPEAKER_01]: The master was a wealth creator, the entire time.
• 28:16
  [SPEAKER_01]: The master had learned to make his money work for him.
• 28:19
  [SPEAKER_01]: The master had learned how to become use his money to make him free instead of making him work again.
• 28:25
  [SPEAKER_01]: So while he's sitting out chilling and we think he ain't doing no work.
• 28:29
  [SPEAKER_01]: He got all these people out doing the work for him.
• 28:31
  [SPEAKER_01]: See, we so busy thinking that we have to learn everything on itself when the answer is not a how the answer is a who?
• 28:38
  [SPEAKER_00]: You're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you're, you
• 28:55
  [SPEAKER_00]: with so much information right now, everybody's an expert.
• 28:59
  [SPEAKER_00]: Everybody's a guru.
• 29:00
  [SPEAKER_00]: Everybody has a mentorship.
• 29:02
  [SPEAKER_00]: Everybody can help you make a million dollars.
• 29:05
  [SPEAKER_00]: Everybody, everybody, everybody, everybody.
• 29:08
  [SPEAKER_00]: How do you know who...
• 29:11
  [SPEAKER_00]: Yeah, help you.
• 29:12
  [SPEAKER_00]: Like how do you know what this one is the front of world?
• 29:14
  [SPEAKER_01]: Well, two things, first off, I would say I can understand why everybody is afraid to be scammed because there are a lot of, you know, bad actors out there.
• 29:25
  [SPEAKER_01]: There's also a lot of good actors.
• 29:27
  [SPEAKER_01]: I don't want, I would go so forth to say there's probably more good actors than bad actors.
• 29:31
  [SPEAKER_01]: That was the bad actors.
• 29:31
  [SPEAKER_01]: Give the good actors a bad name.
• 29:34
  [SPEAKER_01]: So so many people are afraid to be scammed, but here's what I want to tell you and I hate the till you this as an individual watching today, but I'm afraid that many of you have already been scammed.
• 29:45
  [SPEAKER_01]: I want you to think about this.
• 29:46
  [SPEAKER_01]: If you have been listening to the educational system and listening to your job, telling you to overfund your 401k, if you've been listening to work work work work, just to get paid, work work work, just to get paid instead of earning passive income to get you freedom, you've already been scammed by the government and by all
• 30:04
  [SPEAKER_01]: what I'm looking to do first off is unscathed.
• 30:07
  [SPEAKER_01]: A lot of people help you to unlearn some of the things that they've taught you so the government benefits not you.
• 30:12
  [SPEAKER_01]: So today you can pick it up and learn the right way.
• 30:14
  [SPEAKER_01]: That's the first thing I'm going to say you got to be unscathed.
• 30:17
  [SPEAKER_01]: The second thing that I would say is anytime you look in it, any kind of influencer or teacher or coach, or coach, I don't want you to just look at that person.
• 30:27
  [SPEAKER_01]: That person can say whatever they want to say.
• 30:29
  [SPEAKER_01]: Two things I want you to look at.
• 30:31
  [SPEAKER_01]: I want you to look at the fruit, and I want you to look at their infrastructure.
• 30:36
  [SPEAKER_01]: Their fruit and their infrastructure will tell you more than anything else will tell you.
• 30:39
  [SPEAKER_01]: What's their fruit?
• 30:39
  [SPEAKER_01]: Their fruit is, do they have other students that have already been successful?
• 30:43
  [SPEAKER_01]: Hi.
• 30:43
  [SPEAKER_01]: You don't have other people who have already been doing it.
• 30:45
  [SPEAKER_01]: Do they have case studies?
• 30:46
  [SPEAKER_01]: Do they have people who will swear by them?
• 30:48
  [SPEAKER_01]: That's number one of the fruit.
• 30:49
  [SPEAKER_01]: But even the fruit ain't enough, because I could have worked with people one on one, and I could have made them successful.
• 30:54
  [SPEAKER_01]: But now I've grown so much.
• 30:55
  [SPEAKER_01]: I don't have a capacity to help you anymore.
• 30:58
  [SPEAKER_01]: So then I want to look at their infrastructure.
• 31:00
  [SPEAKER_01]: What does their back office look like?
• 31:01
  [SPEAKER_01]: Do they have coaches in place?
• 31:04
  [SPEAKER_01]: Do they have people who are teaching outside of them?
• 31:08
  [SPEAKER_01]: They have already been successful.
• 31:09
  [SPEAKER_01]: You want to make sure that you have the level of support that doesn't depend on the person who's talking to you because then you know, it's sustainable.
• 31:16
  [SPEAKER_01]: If not, it's just based on that one person's health.
• 31:18
  [SPEAKER_01]: Bye.
• 31:19
  [SPEAKER_00]: You feel the same right now.
• 31:20
  [SPEAKER_00]: I love that.
• 31:21
  [SPEAKER_00]: And then...
• 31:22
  [SPEAKER_00]: Is there opportunity because I know, you know, part of what people are afraid of is like, you know, you know, paying ahead of time and, you know, not getting what they pay for.
• 31:36
  [SPEAKER_00]: Are there, you know, just, just like when you go to the mall and they give you like a sample and you eat some of the sample, you're like, you know what, this is actually good, let me buy the rest.
• 31:46
  [SPEAKER_00]: Would you advise people to
• 31:48
  [SPEAKER_00]: you know, like our webinars good or, you know, should they, should they pay immediately for the mentorship or should they be in the, the potential mentors environment?
• 31:59
  [SPEAKER_01]: Yeah, that's a great point.
• 32:01
  [SPEAKER_01]: I would not just go into a mentorship without seeing something that they all for free because honestly, the reason why you should decide to join a mentorship is because they're free information is better than a lot of people's paid information.
• 32:12
  [SPEAKER_01]: Because they're free information is good enough.
• 32:14
  [SPEAKER_01]: You're going to be one more.
• 32:15
  [SPEAKER_01]: So I go to a free webinar.
• 32:17
  [SPEAKER_01]: And then I say, OK, let me take the next step.
• 32:19
  [SPEAKER_01]: Oh, they got a program that's less than $500.
• 32:21
  [SPEAKER_01]: OK, let me join in and see what it's about.
• 32:24
  [SPEAKER_01]: OK, this person is legit.
• 32:26
  [SPEAKER_01]: Let me invest in their higher level program,
• 32:29
  [SPEAKER_01]: can help me.
• 32:30
  [SPEAKER_01]: That's going to what we do.
• 32:31
  [SPEAKER_01]: We give people the essential to get to know us first pay a very minimal amount.
• 32:36
  [SPEAKER_01]: And we want you to get 10 times a value and that minimal minimal amount.
• 32:40
  [SPEAKER_01]: And then once you go with that, if you want to move to the next level, you already seen us enough to know if you want to go to that level.
• 32:45
  [SPEAKER_00]: Talk about that a little bit because you have a mentorship, you know, you have your wealth created through.
• 32:52
  [SPEAKER_00]: You, you know, you've helped people transform their wealth.
• 32:55
  [SPEAKER_00]: Do you talk a little bit about, you know, your mission, your vision and your community.
• 33:01
  [SPEAKER_00]: You know, you know, um,
• 33:03
  [SPEAKER_01]: You know, I want to be, I want to be the Black Day Ramsey, right, in a different way, which means my whole goal is to take what I know in this part of the world.
• 33:11
  [SPEAKER_01]: So we're making millions of my financial business and that's great, but it wasn't my, it's not my purpose.
• 33:16
  [SPEAKER_01]: My purpose is to reach back and help and help out my people because my people need this information.
• 33:21
  [SPEAKER_01]: And they don't have the $300,000 to pay somebody like I had to in order to get a piece of the information, right?
• 33:27
  [SPEAKER_01]: They don't know how to do the real estate tax strategies.
• 33:30
  [SPEAKER_01]: It's going to actually minimize their taxes and say they're 30 to 50% on taxes.
• 33:34
  [SPEAKER_01]: So what I do is my mission is to really go out and put you into a position where you get your money back and once you get your money back, you can learn how to multiply that money and leverage that money to make it continue to grow uninterrupted over your over the course of your life.
• 33:48
  [SPEAKER_01]: So what I do is I have a very low entry point to to get people to do to learn this information It's called like a five-day transform your wealth challenge.
• 33:56
  [SPEAKER_00]: Can I talk about that really quick?
• 33:58
  [SPEAKER_01]: Okay, so the five the five-day transform your wealth challenge is just gonna teach you number one How to leverage equity how to leverage from life insurance how to leverage against your equities and your stocks How to leverage against even your 401k.
• 34:10
  [SPEAKER_01]: So we got to teach you how to leverage first
• 34:12
  [SPEAKER_01]: because wealthy people, they never liquidate, they leverage.
• 34:18
  [SPEAKER_01]: So first we got to teach you to leverage instead of liquidate.
• 34:20
  [SPEAKER_01]: Then we got to teach you what to do once you leverage.
• 34:23
  [SPEAKER_01]: So that's where the real estate strategies come in.
• 34:26
  [SPEAKER_01]: And it's not just for the income and for the growth opportunities.
• 34:30
  [SPEAKER_01]: If you use real estate right, you can wipe out a lot of your income where you pay barely any taxes if you know how to do it right, especially with 100% bonus depreciation and cost segregation.
• 34:39
  [SPEAKER_01]: So we teach people those strategies.
• 34:40
  [SPEAKER_01]: we teach people things such as Airbnb, we teach people life insurance, we teach people options, we teach people all the strategies that's going to help you to go the new way.
• 34:49
  [SPEAKER_01]: And we teach you how to unlearn certain things like why you shouldn't overfund your 401k, why you should be thinking about a Roth or Cash value and those different things.
• 34:57
  [SPEAKER_01]: So I teach it live.
• 34:59
  [SPEAKER_01]: It's about an hour or two a day for five days.
• 35:02
  [SPEAKER_01]: I have expert coaches that are doing extremely well financially.
• 35:06
  [SPEAKER_01]: They are specialists.
• 35:07
  [SPEAKER_01]: They come in and teach too.
• 35:08
  [SPEAKER_01]: More importantly, we give you a community of people and wrap our arms around you and guides you structurally step by step through the process.
• 35:16
  [SPEAKER_01]: So this is called the Transform Your Wept Talent and the Wept Site for that is www.transformyourweptallent.com.
• 35:27
  [SPEAKER_01]: So when you go through that side, you can look at the testimonials, you can read all of those things, but there are three different levels that you could take advantage of.
• 35:35
  [SPEAKER_01]: You could take advantage of the platinum, which I highly recommend.
• 35:39
  [SPEAKER_01]: The platinum is typically 1,000.
• 35:41
  [SPEAKER_01]: We do it for only 397.
• 35:44
  [SPEAKER_01]: What that platinum will do, it will not just give you Q&A every day, which means you can actually have questions for me.
• 35:50
  [SPEAKER_01]: Priority questions, you're getting to the Zoom room.
• 35:53
  [SPEAKER_01]: This is all virtual.
• 35:54
  [SPEAKER_01]: You have direct access to me via telegram where you can message me and I actually do message you back.
• 35:59
  [SPEAKER_01]: You have my Conciertean.
• 36:01
  [SPEAKER_01]: You get a platinum only network a night where you can network with other platinum members.
• 36:06
  [SPEAKER_01]: We put you into a position where you get the resources, the workbooks, all the tools, everything that you need to be financially successful and you get more exclusive time.
• 36:15
  [SPEAKER_01]: Right?
• 36:16
  [SPEAKER_01]: That's 397.
• 36:17
  [SPEAKER_01]: You can also do the VIP.
• 36:19
  [SPEAKER_01]: The VIP doesn't get the ask questions, they don't get the direct access to the telegram, they also don't get the priority support, they don't get any of those things, but what they do get is at least get a chance to watch it and they get the C to Q and A, they just can't really participate.
• 36:33
  [SPEAKER_01]: Then you get the general, the general is only $97.
• 36:36
  [SPEAKER_01]: The general is where you can't even, you can't see the Q&A at all.
• 36:39
  [SPEAKER_01]: You can't see any of that, but you can't see at least the general session in the Facebook group.
• 36:43
  [SPEAKER_01]: So you don't get in the zone, but you can't at least see the Facebook group.
• 36:46
  [SPEAKER_01]: So when you go to that web page, we even have a payment plan for $3.97.
• 36:51
  [SPEAKER_01]: By the way, the 397 comes with a moneyback guarantee, which means if a person goes through this program and goes through the five days and they just say that you know what I didn't learn anything, yeah, I want my money back.
• 37:03
  [SPEAKER_01]: No questions, acts guarantee.
• 37:05
  [SPEAKER_01]: Most people don't do that because most people have the integrity to say, I learned so much.
• 37:10
  [SPEAKER_01]: There's no way I can act for my money back.
• 37:11
  [SPEAKER_01]: But every once in a while, we get somebody to say, I have somebody the other day to say it more than
• 37:15
  [SPEAKER_01]: Man, I learned so much, man, I want to join your program where I learned this.
• 37:18
  [SPEAKER_01]: I already implemented this, I did this, I did this, can I get a refund?
• 37:20
  [SPEAKER_01]: Well, I say, excuse me, yeah, yeah, you've had a money-back guarantee, okay, bro, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah
• 37:32
  [SPEAKER_01]: We got a payment plan where the person came pay the $397 today.
• 37:35
  [SPEAKER_01]: They can click on by now pay later and they can spread that payment out interest free over a few months as well.
• 37:40
  [SPEAKER_01]: So you just go to their website, transformyourweb.townless.com.
• 37:45
  [SPEAKER_01]: Take advantage of it.
• 37:45
  [SPEAKER_01]: I'm telling you is a life changer.
• 37:47
  [SPEAKER_01]: I've been doing it.
• 37:47
  [SPEAKER_01]: We get hundreds of people who go through it every single, every single cycle.
• 37:51
  [SPEAKER_00]: Yeah, and I love that, though, too, because, you know, again, you talked earlier about investing $200,000 in something, you know, in an expert who helped you later save $1.1 million, right?
• 38:07
  [SPEAKER_00]: And so the same thing, you know, what I love about, you know, you're doing the challenge is that I mean, you just dropped so much gems on this on this episode already so I already know like even with the gems that you drop people are getting a lot out of it right, but imagine spending 10 hours with you.
• 38:25
  [SPEAKER_00]: Yeah.
• 38:26
  [SPEAKER_00]: Right.
• 38:26
  [SPEAKER_00]: Imagine doing an hour of Q a day every single day for five days.
• 38:31
  [SPEAKER_00]: Imagine doing an hour of learning every single day for five days.
• 38:35
  [SPEAKER_00]: Imagine having other guest speakers coming in there.
• 38:38
  [SPEAKER_00]: That 397 is actually a no-brainer because what you can learn
• 38:43
  [SPEAKER_00]: and be able to implement in those 10 hours is going to be well worth what someone has day for.
• 38:50
  [SPEAKER_01]: Not only that as, the first day, the first day.
• 38:55
  [SPEAKER_01]: what we do is we show people how to find at least one of $2,000 in the first day that they're they're wasting yeah they don't even know that they have so literally after the first day you're going to say I already robbed you right everything Gus is is is a bonus bonus for that foreign forward so yeah it's it's a cool thing I love doing it
• 39:14
  [SPEAKER_00]: I love it.
• 39:14
  [SPEAKER_00]: I love it.
• 39:15
  [SPEAKER_00]: And then what, what are some of the successes that, you know, some of your students have had?
• 39:19
  [SPEAKER_00]: Yeah.
• 39:19
  [SPEAKER_00]: Yeah.
• 39:20
  [SPEAKER_01]: Yeah.
• 39:20
  [SPEAKER_01]: I'll tell you.
• 39:20
  [SPEAKER_01]: I got, I got one client who was on who he was 60 years old and he was, like, say retirement rich cash poor.
• 39:27
  [SPEAKER_01]: He had all of his money into his retirement plan, right?
• 39:30
  [SPEAKER_01]: And he was wondering, how am I going to get all of my money out without paying taxes?
• 39:34
  [SPEAKER_01]: I'm going to get Christian taxes.
• 39:35
  [SPEAKER_01]: My income was this great.
• 39:37
  [SPEAKER_01]: Yeah, blah, blah, blah, blah.
• 39:38
  [SPEAKER_01]: So one of the things that we did was we talked to him about a strategy called four time for the state professional.
• 39:43
  [SPEAKER_01]: You don't have to be in real estate to be qualified as a full-time real estate professional.
• 39:47
  [SPEAKER_01]: You just need 750 hours, 13 hours a week times that you do something, even in administrative stuff when it comes to real estate.
• 39:54
  [SPEAKER_01]: And it has to be over 50-plus percent of your time, which obviously he was now retired.
• 39:58
  [SPEAKER_01]: So we had the time.
• 39:59
  [SPEAKER_01]: So we told him to go out and get a property.
• 40:01
  [SPEAKER_01]: He leveraged against his equity to go out and get the down payment to get this particular property.
• 40:06
  [SPEAKER_01]: He got the property which was worth $300,000.
• 40:09
  [SPEAKER_01]: I have to do a cost segregation.
• 40:11
  [SPEAKER_01]: I have to do a hundred percent bonus depreciation.
• 40:14
  [SPEAKER_01]: Long story short, he was able to write off $140,000 from his income that year.
• 40:20
  [SPEAKER_01]: Not including the money that he made on the property and on the rental property.
• 40:24
  [SPEAKER_01]: So when we when we was able to help him to do that, yeah, I said what you're going to do with this money.
• 40:28
  [SPEAKER_01]: Yeah, yeah, yeah.
• 40:29
  [SPEAKER_01]: He said he said well, you know, I want to invest.
• 40:32
  [SPEAKER_01]: I say I got a better idea.
• 40:33
  [SPEAKER_01]: So you say you want to get your money from this tax to tax deferred account to a tax free account.
• 40:37
  [SPEAKER_01]: He said, yeah, absolutely I do.
• 40:38
  [SPEAKER_01]: So we actually converted the 140,000 where when you converted that counts as ordinary income, but because we just rolled off 140,000, he was able to convert that completely tax free.
• 40:47
  [SPEAKER_01]: So if he'd do that over the next five years, he's going to be completely tax-free, having to have enough five properties in his particular name.
• 40:54
  [SPEAKER_01]: He didn't income from it.
• 40:56
  [SPEAKER_01]: He can be able to take that equity and use that to buy more properties.
• 40:59
  [SPEAKER_01]: So those are just some of the things that we took the transform somebody's life where they didn't think that
• 41:04
  [SPEAKER_00]: they could get away from the IRS and we told them legal strategies to actually do this tax for a year and what is the what is the transformation right because like as you're saying that you're like 60 years old I'm seeing somebody who might have thought that their life is over right they retire they're just really doing nothing.
• 41:24
  [SPEAKER_00]: now they are able to cash law and they could do what is that transformation?
• 41:31
  [SPEAKER_00]: What does it feel like?
• 41:32
  [SPEAKER_00]: What are some of your clients like saying or feeling once you help them obtain some of that freedom?
• 41:38
  [SPEAKER_01]: It's good.
• 41:38
  [SPEAKER_01]: One thing I'll tell you, tell people, you're not too young, you're not too old.
• 41:41
  [SPEAKER_01]: There are strategies that you can implement for a younger person.
• 41:43
  [SPEAKER_01]: You can implement strategies where they could take that cash flow, stop over funding their 401k, do it to the match, take that extra money, put it into a properly structured cash value policy, borrow against it, get assets, and make your money work multiple times.
• 41:55
  [SPEAKER_01]: I treat people how to do that.
• 41:56
  [SPEAKER_01]: When people notice something exists before they even take action, it's like their mind is boom.
• 42:01
  [SPEAKER_01]: It's like they instantly have what I call the three Cs.
• 42:04
  [SPEAKER_01]: They have comfort.
• 42:05
  [SPEAKER_01]: They now have confidence and they have control.
• 42:09
  [SPEAKER_01]: And I'll add one more seed, they have clarity.
• 42:11
  [SPEAKER_01]: A lot of people, they felt like they had to keep doing the same thing the same way the old way.
• 42:18
  [SPEAKER_01]: And when they realized it's a new way, it's like instantly they feel freedom.
• 42:22
  [SPEAKER_01]: They feel a sense of freedom.
• 42:23
  [SPEAKER_01]: Their dreams come back, right?
• 42:26
  [SPEAKER_01]: There's a lot of people lost their dream because of the fact that they had the dream but a little life kind of took its toll like these little drops of water hit the grain and then eventually even the strongest grain it will deteriorate.
• 42:41
  [SPEAKER_01]: So I try to tell people that look.
• 42:43
  [SPEAKER_01]: You've been this way and you still are.
• 42:45
  [SPEAKER_01]: Once they see the vision, I say, you know what, you're a giraffe now.
• 42:49
  [SPEAKER_01]: You know that, you're a giraffe.
• 42:51
  [SPEAKER_01]: That means you see high above the trees.
• 42:53
  [SPEAKER_01]: That means there's nobody else standing in your way.
• 42:56
  [SPEAKER_01]: That mental blockage is gone.
• 42:57
  [SPEAKER_01]: You can go straight for your dreams.
• 42:58
  [SPEAKER_00]: Yeah.
• 42:59
  [SPEAKER_01]: The problem is they try to tell their big dreams to a small mind and the quickest way to kill a big dream is to introduce us to a small mind So they restarted neck now and try to get permission from a turtle The turtle isn't a bad person, but the turtle they love you, but they can only see two feet in front of them So of course they're going to tell you oh no, we need you to stay here.
• 43:17
  [SPEAKER_01]: Don't do that.
• 43:18
  [SPEAKER_01]: Don't do nothing stupid stay here like they're doing good, right?
• 43:22
  [SPEAKER_01]: The oxygen flows through a giraffe's neck.
• 43:24
  [SPEAKER_01]: So if a giraffe keeps their neck down for too long, they can suffocate, pass out, and even die.
• 43:29
  [SPEAKER_01]: And that's what a lot of people are experiencing right now.
• 43:32
  [SPEAKER_01]: They're head is down for so long right now in that environment.
• 43:35
  [SPEAKER_01]: They don't know what it's like.
• 43:36
  [SPEAKER_01]: They're like the walk in zombies.
• 43:38
  [SPEAKER_01]: They're like, they're living, but it's not like they're really living, they're not really living out their dreams.
• 43:42
  [SPEAKER_01]: So we want to awake people, say to, hey,
• 43:44
  [SPEAKER_01]: don't give up on your dreams.
• 43:46
  [SPEAKER_01]: The same dream that you had when you were five, six, when you were 10, it's time to get that dream back.
• 43:50
  [SPEAKER_01]: It's time to go forward.
• 43:52
  [SPEAKER_01]: It's time to make it happen.
• 43:53
  [SPEAKER_01]: It's time to grow your money because now it's time for money to come to you easily, frequently and abundantly.
• 43:58
  [SPEAKER_01]: And those that are around you, it's time to be blessed by your presence.
• 44:01
  [SPEAKER_00]: Let's go, let's go, you cook, you cook, you cook, you cook, you cook.
• 44:04
  [SPEAKER_00]: How does somebody, like right now, somebody's hype, somebody's listening to you, somebody's ready to take the next step.
• 44:10
  [SPEAKER_00]: There is a trillions of dollars of a wealth transfer hat in right now, A.I.
• 44:16
  [SPEAKER_00]: is happening.
• 44:16
  [SPEAKER_00]: People are losing jobs, how can somebody right now take advantage of that transfer of wealth that's happening?
• 44:24
  [SPEAKER_01]: You just mentioned it, right?
• 44:26
  [SPEAKER_01]: There's never been an easier time to make money.
• 44:28
  [SPEAKER_01]: You make a living.
• 44:30
  [SPEAKER_01]: Learn AI, learn AI, write a book, write a book, learn AI, or better yet hire somebody who knows how to properly use the AI to help you to write the book fast to shout out to you, and just care, because I'm stored in my book next week.
• 44:47
  [SPEAKER_01]: I'm stored in my next book next week.
• 44:49
  [SPEAKER_01]: So that's what I'll say, like, learn a card.
• 44:51
  [SPEAKER_01]: Yeah, learn, rock, learn on Chad G.P.T.
• 44:54
  [SPEAKER_01]: Learn perplexity.
• 44:56
  [SPEAKER_01]: These are the tools that you're going to be able to use to literally, you can take a business in half.
• 45:01
  [SPEAKER_01]: Don't even have to hire somebody.
• 45:02
  [SPEAKER_01]: You can use an AI as your AI ages, your AI employees.
• 45:06
  [SPEAKER_01]: They can do all the work behind the scenes.
• 45:08
  [SPEAKER_01]: And once you learn how to do that, it's not even that expensive to hire a human.
• 45:12
  [SPEAKER_01]: Because you can utilize an AI.
• 45:13
  [SPEAKER_01]: Then you can go out and hire somebody from the Philippines and pay them a very low monthly rating.
• 45:18
  [SPEAKER_01]: You can have a whole bit.
• 45:20
  [SPEAKER_01]: You're not going to believe this, but my entire idea on my coaching business, I did 12 million.
• 45:26
  [SPEAKER_01]: I don't have one US employee.
• 45:27
  [SPEAKER_00]: Wow.
• 45:28
  [SPEAKER_01]: All I have is AI and overseas employees.
• 45:31
  [SPEAKER_01]: My payroll is extremely low.
• 45:33
  [SPEAKER_01]: My profitability is extremely high.
• 45:35
  [SPEAKER_01]: But anybody can do that right now in this day and age.
• 45:38
  [SPEAKER_01]: Yeah.
• 45:38
  [SPEAKER_01]: So learn those things and I promise you, AI is not here to take your job.
• 45:42
  [SPEAKER_01]: Yeah.
• 45:43
  [SPEAKER_01]: If you know AI, you're going to take somebody else's job.
• 45:45
  [SPEAKER_00]: Yeah, for sure.
• 45:46
  [SPEAKER_00]: And I love that you said that because I think that one of the biggest things for, you know, barriers was, you know, access the capital and then access to knowledge, not like, you know, if you didn't go to Harvard or if you didn't go to any, you know, Ivy League school, you didn't have the access to the information, you didn't have the access to the people.
• 46:10
  [SPEAKER_00]: And so to get a business off the ground, I was really, really difficult.
• 46:13
  [SPEAKER_00]: Now with AI, you have access like all of your best ideas you can really have a conversation with AI to help you implement it and then you sort of like being able to take those ideas and implement it in order for it to be successful.
• 46:28
  [SPEAKER_00]: And the other piece of it because you mentioned right in the book, the other piece of it is also that people have to understand that you have your an expert.
• 46:38
  [SPEAKER_00]: Right, you have some unique, you know, unique knowledge that even with AI, you know, AI, it just like money is an amplifier.
• 46:47
  [SPEAKER_00]: AI is an amplifier.
• 46:49
  [SPEAKER_00]: If you don't know anything and you use AI, AI is going to produce nothing.
• 46:55
  [SPEAKER_01]: Too many people only use AI simple things like, check this email for grammar.
• 47:00
  [SPEAKER_01]: Yeah.
• 47:00
  [SPEAKER_01]: I'm not saying this bad, but I'm just saying, there's deeper ways to think about AI.
• 47:04
  [SPEAKER_01]: Yeah.
• 47:04
  [SPEAKER_01]: Oh, I'm an alpha.
• 47:08
  [SPEAKER_01]: When you join my challenge, one of the things that I built, I built an entire robot, robust prompt inside of AI where all you have to do is copy and paste that prompt and tell it what you want to do, what business you want to build, whatever you want to do it don't even have to be a business.
• 47:24
  [SPEAKER_00]: Yeah.
• 47:24
  [SPEAKER_01]: And it will literally cycle through about 10 different steps and 10 different questions.
• 47:28
  [SPEAKER_01]: Like once you answer it, they're going to say, okay, next question, boom, boom, boom.
• 47:32
  [SPEAKER_01]: And when you're done with it, you're going to have an entire seven-page plan, a business plan, telling you every step to do.
• 47:38
  [SPEAKER_01]: You can say, I want to make $2 million within the next year in this particular business.
• 47:42
  [SPEAKER_01]: And it's literally going to cycle through and tell you exactly what to do.
• 47:46
  [SPEAKER_01]: So when you join my five-day challenge, a transformyourwebchallence.com.
• 47:51
  [SPEAKER_01]: I'll actually throw that in and you get that whole prompt for free.
• 47:54
  [SPEAKER_01]: So you won't even have to think about it, plug it in and then they're going to actually the question to provoke you to think along the way.
• 48:01
  [SPEAKER_01]: Yeah.
• 48:02
  [SPEAKER_00]: It's becoming your own bank still a great way to build well.
• 48:07
  [SPEAKER_01]: Yeah, yeah, I would say I've evolved right I mean become your own bank is still something that I teach about but guess what when I first came on the scene when I was in your show Yeah, not a lot of people especially black people were truly talking about becoming your own bank.
• 48:20
  [SPEAKER_01]: Yeah, but then after your show next thing you know that was hundreds of
• 48:23
  [SPEAKER_01]: Like people like every out the world we're talking about it.
• 48:26
  [SPEAKER_01]: So I just realized that a lot of people started misrepresenting, utilizing a life insurance properly to become your own bank.
• 48:33
  [SPEAKER_01]: And people needed a higher level.
• 48:35
  [SPEAKER_01]: So we took their higher level to start talking about not only how do you become your bank.
• 48:40
  [SPEAKER_01]: But how do you minimize your taxes?
• 48:41
  [SPEAKER_01]: How do you get the proper trust like the every vocalist life insurance trust to make sure that you protect it from your estate?
• 48:46
  [SPEAKER_00]: How do we make sure that every single life insurance trust?
• 48:49
  [SPEAKER_01]: Yeah, so it's called an eyelet, so there's two different types of orders, hundreds of different, but the main types of trust to categories are revocable and irrevocable.
• 48:58
  [SPEAKER_01]: Yeah, revocable means that you can revoke it.
• 49:00
  [SPEAKER_01]: It means that if I get this trust, which is going to protect me, my privacy is going to help me to avoid probate.
• 49:06
  [SPEAKER_01]: It's going to tell my assets where to go, so I don't have to go through the courts, etc.
• 49:10
  [SPEAKER_01]: But I can revoke it and change it and change the details during my lifetime.
• 49:14
  [SPEAKER_01]: Yeah.
• 49:16
  [SPEAKER_01]: The downside of that, which I still recommend a provocable trust, 95% of people all they need is a provocable.
• 49:21
  [SPEAKER_01]: But the downside about that, if you got a lot of assets and millions of dollars you're trying to protect, for example, that doesn't protect it, it just tells a word to go and it helps it to avoid probate.
• 49:31
  [SPEAKER_01]: But if you're trying to take it out of your name completely, which means that you want to completely out of your estate, you don't want to get taxed on it, you want to make sure that everything is in order,
• 49:45
  [SPEAKER_01]: And all those particular things that you want to take it out of your name.
• 49:48
  [SPEAKER_01]: That's called every vocabal.
• 49:49
  [SPEAKER_01]: The benefit is it's out your name.
• 49:51
  [SPEAKER_01]: So you die.
• 49:52
  [SPEAKER_01]: There's no estate taxes on it.
• 49:54
  [SPEAKER_01]: The downside is it's irrevocable, which means you cannot revoke.
• 49:59
  [SPEAKER_01]: Once you put it into place, you can't go back and say, well, I changed my mind.
• 50:02
  [SPEAKER_01]: I want to do this is irrevocable.
• 50:04
  [SPEAKER_01]: So every vocabal means you don't own it, which means you can't change it.
• 50:07
  [SPEAKER_01]: Revocable means you still own it, which means you can't change it.
• 50:10
  [SPEAKER_01]: There's also what's called testamentary trust.
• 50:12
  [SPEAKER_01]: That's also a spinter of trust.
• 50:13
  [SPEAKER_01]: So if you got kids and you got, let's say you got three kids, two of them are doing really well.
• 50:17
  [SPEAKER_01]: One, you kind of want to disinherit because you don't know what they're going to do with the money.
• 50:21
  [SPEAKER_01]: You can actually set up stuff with the spinter of trust where you can make it to where they're going to, like when they turn 30, they get this much money to the least.
• 50:28
  [SPEAKER_01]: When they graduate from college, this money is released.
• 50:31
  [SPEAKER_01]: So on power,
• 50:32
  [SPEAKER_01]: You know, remember that line when he wrote that trust, he wouldn't let him get the money and we finished college.
• 50:37
  [SPEAKER_01]: And then he was in jail, read that letter to say, I knew you was going to end up here.
• 50:41
  [SPEAKER_01]: Yeah, that's where that came from.
• 50:42
  [SPEAKER_01]: He had a test of a territory trust.
• 50:43
  [SPEAKER_01]: And then you got the special trust like the special needs trust, the special needs trust is going to basically allow, if you got this child with a special needs, going to allow you to continue to serve them even once you pass away.
• 50:53
  [SPEAKER_01]: But more importantly, take that income from the government's restriction, which could take away a lot of their benefits.
• 50:59
  [SPEAKER_01]: Then you got the charitable remainder trust, charitable remainder trust means that you can actually use that to kind of donate it, take it out of your state, so for people who have highly appreciated stocks, you can actually take that out of your name, which means that, yeah, you give it a money away, but you also don't have to pay taxes, they don't have to pay taxes on it.
• 51:15
  [SPEAKER_01]: So there's a lot of tax strategies that are involved with trust.
• 51:18
  [SPEAKER_01]: Those are some of the things that we teach as well.
• 51:20
  [SPEAKER_01]: So I let go on back to what you say.
• 51:22
  [SPEAKER_01]: Every book with life insurance trusts means you can get the life insurance and instead of that going to your estate.
• 51:27
  [SPEAKER_01]: Even though life insurance is tax-free, it's not a state tax-free.
• 51:31
  [SPEAKER_01]: A state tax-free is when you die and if you make over a certain amount, it can be tax up to 45%.
• 51:35
  [SPEAKER_01]: But when you put into the every book with life insurance, it takes it out of your estate, they can't tax you on it.
• 51:41
  [SPEAKER_01]: So that's a lot of game how often are these rules changing like oh all the time like right now the irrevocable in order to be counted against your estate you would have had to make over 15 million out of that work yeah if you're married it could be a 30 million out of that work you could say that's never going to impact me what am I worried about it?
• 52:00
  [SPEAKER_01]: But not too long ago, that rule was only one million.
• 52:03
  [SPEAKER_01]: So it can always revert back.
• 52:05
  [SPEAKER_01]: So while you're planning for 15 million, the government can go revert back and say anything network for the women.
• 52:09
  [SPEAKER_01]: By the way, net worth is not just your investments.
• 52:12
  [SPEAKER_01]: It's your real estate value.
• 52:14
  [SPEAKER_01]: It's your collectables, it's your health.
• 52:16
  [SPEAKER_01]: I mean, it's everything your life insurance, everything.
• 52:19
  [SPEAKER_01]: If it's over that amount, it can be tight.
• 52:21
  [SPEAKER_00]: Yeah, and I love that.
• 52:22
  [SPEAKER_00]: And I think, you know, one of the reasons why I asked that is because a lot of times people think that they'll learn something and now they know it right opposed to Finding somebody who does it on every day based, right?
• 52:36
  [SPEAKER_00]: Like you wouldn't, you know, go to a plumber to fix your electricity.
• 52:41
  [SPEAKER_00]: Yeah.
• 52:41
  [SPEAKER_00]: So you want to go to somebody who doesn't on a, on a, on a consistent basis, especially as it relates to your money, like, you know, you, your team are people that that you do this every single day, um, so you're kind of locked in it.
• 52:55
  [SPEAKER_01]: I'll just say this and one of the things we do is we go beyond.
• 52:57
  [SPEAKER_01]: Yeah.
• 52:58
  [SPEAKER_01]: That's sort of our motto.
• 52:59
  [SPEAKER_01]: What does go beyond means?
• 53:00
  [SPEAKER_01]: It's like a lot of times when most people talk to like financial advisors, wealth advisors.
• 53:04
  [SPEAKER_01]: they'll tell them well let's try to get you a better return they'll talk about like going this investment or going to this investment that's cool but that's like at a truly basic level of wealth management yeah going beyond means if we don't want to just help you which are risking your investments making sure that we minimize your losses while maximize your returns we also want to help you optimize your income to make sure you take an income from the
• 53:27
  [SPEAKER_01]: We want to help you with unexpected health care expenses because long-term care could wipe a person out.
• 53:32
  [SPEAKER_01]: We want to help you minimize your taxes, which is huge.
• 53:34
  [SPEAKER_01]: We also want to help you to plan your estate.
• 53:36
  [SPEAKER_01]: This will be called the Rout plan, or OUTE risk-optimizing your income, unexpected health care, taxes, and a state.
• 53:42
  [SPEAKER_01]: So if we can help you with those things, then you're going to have a full comprehensive package and not just somebody saying that, oh, we don't do taxes.
• 53:48
  [SPEAKER_01]: You've got to talk to your CPA.
• 53:51
  [SPEAKER_00]: You're in the process and I don't know if you want to talk about this on the show, but if you're in the process of like rebranding Yeah, you know, you're you're going from Compass financial solutions to Compass wealth Yeah, great question.
• 54:05
  [SPEAKER_01]: Compass retirement solutions.
• 54:07
  [SPEAKER_01]: When you think about compass retirement solutions What do you think about retirement retirement right now?
• 54:11
  [SPEAKER_01]: You think about got to be 60 Have you 65 retirement?
• 54:14
  [SPEAKER_00]: Yeah
• 54:15
  [SPEAKER_01]: But when you think about wealth, you think about all any age can be wealthy, right?
• 54:19
  [SPEAKER_01]: You don't think about retirement.
• 54:20
  [SPEAKER_01]: There's no word of retirement in the Bible, right?
• 54:22
  [SPEAKER_01]: So we're not just trying to help people get two retirement.
• 54:25
  [SPEAKER_01]: We happen to get through.
• 54:26
  [SPEAKER_01]: We happen to people who got wealth, but at a younger age.
• 54:28
  [SPEAKER_01]: There's a lot of younger entrepreneurs, a lot of business owners, a lot of doctors, who might only be 30 or 40 years old, whatever accumulated a lot of wealth.
• 54:35
  [SPEAKER_01]: But there's no word near thinking about retirement yet.
• 54:38
  [SPEAKER_01]: So that branch shift means that we're no longer
• 54:44
  [SPEAKER_01]: We're heard a managed real serious money and help you to put yourself into a better position where you minimize taxes, where you get the collaboration that you need for your entire four pitch.
• 54:53
  [SPEAKER_00]: Yeah, I love it.
• 54:54
  [SPEAKER_00]: I love it.
• 54:55
  [SPEAKER_00]: Man, you dropped so much gems, is there any question that I did not ask you or any gem that you want to leave with without what I insiders?
• 55:05
  [SPEAKER_01]: No man, I love you're saying a bunch of this is your birthright, right?
• 55:09
  [SPEAKER_01]: A bunch of this is your birthright, man.
• 55:10
  [SPEAKER_01]: We tell people like it's time to dominate right now.
• 55:14
  [SPEAKER_01]: The year that we're in right now and going forward, yeah, in this time to do something different.
• 55:20
  [SPEAKER_01]: You can't do the same thing and expect a different result.
• 55:22
  [SPEAKER_01]: So the one thing I will tell people is try to plan an uncommon see try to do something different.
• 55:28
  [SPEAKER_01]: Educate yourself.
• 55:28
  [SPEAKER_01]: Do something that you never would have tried before and you'll be surprised.
• 55:31
  [SPEAKER_01]: You'll look back in the difference that you would have made and not just your life, but you won't your key as key as to say because of the decisions that my great-grandmother made.
• 55:40
  [SPEAKER_01]: Because of the decisions that my great-great-grandfather made, I like it's changed.
• 55:43
  [SPEAKER_01]: We don't want wealth to end at the one generation.
• 55:46
  [SPEAKER_01]: We want to continue to overflow.
• 55:47
  [SPEAKER_00]: Yeah, and I love that.
• 55:48
  [SPEAKER_00]: I love that.
• 55:49
  [SPEAKER_00]: Um, if people want to connect with you, yeah, would join your challenge.
• 55:53
  [SPEAKER_00]: They just want to connect.
• 55:54
  [SPEAKER_00]: We can find you.
• 55:54
  [SPEAKER_01]: Yeah.
• 55:55
  [SPEAKER_01]: On Instagram, easy Marvin Mitchell official, Marvin Mitchell official.
• 56:00
  [SPEAKER_01]: Um, on my challenge is transform your wealth challenge.com.
• 56:05
  [SPEAKER_01]: Remember, I recommend the Platinum.
• 56:07
  [SPEAKER_01]: I'm just going to put you into a position where I can have direct conversations and direct access with you, and I want to accelerate your growth.
• 56:13
  [SPEAKER_01]: So again, transform your website, tell us.com or you could just go to my Instagram and just follow me on Instagram and more of the Mitchell Fissure.
• 56:20
  [SPEAKER_00]: All right, y'all.
• 56:21
  [SPEAKER_00]: We are closing off the vote when I tell this.
• 56:23
  [SPEAKER_00]: I'm gonna put all of the, uh, you know, links below.
• 56:26
  [SPEAKER_00]: Make sure you're joined.
• 56:28
  [SPEAKER_00]: Make sure you're trying like this.
• 56:30
  [SPEAKER_00]: Like this is the time y'all.
• 56:31
  [SPEAKER_00]: Yes, sir.
• 56:31
  [SPEAKER_00]: Not not not tomorrow.
• 56:33
  [SPEAKER_00]: Not a future date with you about now.
• 56:35
  [SPEAKER_00]: No opportunity wasted right now even as you're watching this show.
• 56:40
  [SPEAKER_00]: I need you to like heads into the description.
• 56:42
  [SPEAKER_00]: Click the link and make sure you join the transform your wealth challenge you will not be disappointed in fact You are it.
• 56:49
  [SPEAKER_00]: I don't even need I didn't even need to tell you that Matter of fact the fact that like like if you if you waited until this time right like if you didn't pause it While we were talking and you waited to this time.
• 56:59
  [SPEAKER_00]: This is your reminder
• 57:01
  [SPEAKER_00]: That you need to click the link immediately, join the challenge, transform your wealth.
• 57:06
  [SPEAKER_00]: We are closing out the vault, another awesome episode of Inside the Vault with Ashcache.
• 57:10
  [SPEAKER_00]: The greatest money mine says, show on the planet.
• 57:13
  [SPEAKER_00]: Make sure you visit us inside the vaultshow.com.
• 57:16
  [SPEAKER_00]: Follow us on all social media platforms at Inside the Vault.
• 57:19
  [SPEAKER_00]: Meet I am Ashcache, make sure you visit me, I am Ashcache.com.
• 57:23
  [SPEAKER_00]: Follow me on all social media platforms at I am Ashcache.
• 57:31
  [SPEAKER_00]: I'm gonna see you on next time.
• 57:33
  [SPEAKER_00]: Same time, same place in God's will.
• 57:36
  [SPEAKER_00]: Peace!