Latest / Wealth On Main Street / 277: Why It’s Never Too Late To Start Infinite Banking with 82-Year-Old John Zytveld

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277: Why It’s Never Too Late To Start Infinite Banking with 82-Year-Old John Zytveld · Wealth On Main Street

• 0:00
  Speaker A: Foreign.
• 0:11
  Speaker B: Welcome to wealth on Main street, where conversations about growing your wealth are fun and entertaining. Wealth isn't just about money. It's the skills and the knowledge that we develop to pass on to future generations. Tune in each week to. To grow your mindset and your net worth at the same time.
• 0:36
  Speaker A: All right, welcome back to wealth on Main Street. We are joined today by John Zeitfeld, a gentleman who started working before most kids knew how to tie their shoes. He's worked paycheck to paycheck. He saved pennies only to watch them disappear. And for decades, he thought that life insurance was really just another scam. But at the age of 82, he's discovered something obviously incredibly powerful, and it's a fire. It's led him to own five policies all in under a year. And so the story that we're going to walk through today with John is going to be amazing. Stick around because this conversation is going to be one that might flip the switch for you, too. And so if you've ever felt like your bank account has a hole in it, today's guest has been there. Except he's found a patch and a way to get it patched with a policy. Or In John's case, 5. Welcome to the show, John. It's a pleasure to have you. How are you?
• 1:37
  Speaker C: Good, good. I haven't got the fifth one yet. It's on its way.
• 1:42
  Speaker A: You've delivered newspapers, milk, groceries, and now it's a young age of 82. You're, you're delivering a lesson, I think, that most people never learn. And so what flipped the switch for you and got you to say yes to implementing this process after saying no to life insurance for so long? I'm genuinely curious.
• 2:05
  Speaker C: Oh, well, I've always looked on insurance as, you know, you think back to Chicago and in those areas and you hear about what was his name? There's one Dutch, and there was a. Anyway, they're all, all crooks, but their whole, their whole life was insurance. They sold insurance. And if you didn't buy, well, we, we helped you out to make sure that you needed insurance. You know, it's all insurance.
• 2:38
  Speaker A: That's one way to go about building an agency.
• 2:40
  Speaker C: Exactly. So, so that was. So insurance wasn't very good when, when I thought about insurance.
• 2:49
  Speaker B: That reminds me, John, of something that Nelson Nash used to say. He would say that the, the best actuaries actually are from Sicily. They can tell you not only when someone's going to die, but they can tell you where the body is going to be buried.
• 3:03
  Speaker C: Oh, yeah, yeah. Well, that's exactly. You want that. And that kind of. That kind of insurance I didn't want to deal with. And it's. I have found that in. That's basically what insurance is, you know, like car insurance. You know, we'll sell you car insurance. If you don't buy it, we'll fix your car. You want insurance now. You want insurance. So, yeah, no insurance has been bad. But I know that I had house insurance problems. And after paying. After paying into it for something like 13 years, I needed the insurance. I had. The adjuster came, he wrote everything up. He says, oh, he says, no problem. And a week later, I got a notice from the insurance company. Your insurance was canceled. And they sent me a check for that one year's payment that I had made, but they forgot about the other 12 years. They kept that. And so I wasn't covered. And all because of one little clause that was in there, which I answered correctly. But they found out that it was not for my use. And that was a fire hydrant within 1,000ft of my house. There was a fire hydrant there, but it didn't cover anything. And just because of that. And then. So it had nothing to do about fire. But the. Yeah, so that was my. That was my last issue with insurance, and that's it. No more.
• 4:50
  Speaker A: Well, let's. Let's shift gears. So take us back to, you know, getting your first. Getting your first bike with your own money. What did that teach you about value and effort?
• 5:03
  Speaker C: Oh, a lot. I used to. Okay, I know. I know you're all familiar with Save on Foods. Patterson. Jimmy Patterson. Okay. Before he. Before he. Before he started Save on Foods, he used to drive school bus. He used to pick me up at my home and take me to school. I used to deliver newspapers to his house. And I know exactly how he got into it was neon lights. And his uncle had doing on Broadway in Vancouver, and he ended up getting that because he bought into the neon business. He always lost his shirt, but, I mean, that started him off. And then next thing you know, he got saved on foods and everything else. So, yeah, doing all that in my bike riding, I covered. Or Richard might know I was in Alder Grove.
• 6:06
  Speaker B: Okay.
• 6:07
  Speaker C: Yeah, you're a chilliwack, you know, or Chillwack or Abbotsford.
• 6:11
  Speaker B: Yep.
• 6:11
  Speaker C: Yeah. Yeah, I was in Alder Grove at the time. And I drove all those streets. I went down to the border, I crossed the border, deliver papers on the other side of the border, and then come back, no questions asked. And you know, up and down the hills there, and it was hard on the bike. And those times that time the bikes didn't have three speed. They were just the one speed. Either you pedaled or you walked. So yeah, they, they, they wore out pretty quick on. So I would say, I would say in the, oh, 10 years that I delivered papers, five years that I delivered papers, I must have gone through a bike every year and a half, at least. And yeah, it was hard on him. I learned a value. And besides doing that, I used to save pennies at the same time to try and make, Yeah, I never got very far after, after about a week, I found out I didn't have enough pennies to make it, make ends meet because it doubled, you know. Yeah, it didn't work. Not for me. So. Yeah, so, but it was, it was fun. I learned that you don't get nothing without effort.
• 7:36
  Speaker A: That is really powerful and so, so true.
• 7:39
  Speaker C: Yeah. And I was living on a, with my family. We were farming dairy cattle and that was, that was a job too. I get, get up in the morning, milk the cows, go to school, come home. I'd even come home, just do the newspapers, then come home and then supper, milk the cows again, bed, no time, no time for play. That was it. That was life.
• 8:10
  Speaker B: Yeah, that's, you know, I think there's so many people that have that story and that experience certainly in the farming realm. And you know, it's, it's a, it's just, just kind of the way of life. And to a lot of degree it still is like that, just not necessarily for everybody. What's interesting, you talk about the, the value of, of, of work and putting the time in. And you would have had to do that, John, along the way when you, when you finally discovered, you know, this book, becoming your own banker. I'm sure that you had to put in some time and some effort there on, on your reading and learning and, and based on your previous experience that you'd had with insurance in general, you. There was some reframing and some rethinking that needed to take place for you to be able to decide that this was a path that you wanted to go down. Am I on the right track there?
• 8:57
  Speaker C: Yeah, yeah, yeah. What, what happened is when we, well, my, my daughter was telling me, she says, you know, I, I, I heard about this and she was telling me all about it and I said, yeah, sounds too good to be true. It's, you know, so that was around 20, 20 hit. And yeah, I looked at it and I Said, no. I said, that can't be right. And she mentioned, well, it's got something to do with buying insurance. And I said, well, if there's insurance involved, forget it. That was just it. And then she got me to look.
• 9:41
  Speaker B: At probably some of the Bankers Vault videos.
• 9:44
  Speaker C: Banker's vault? Yeah, that's the one. And I looked up them and I then. And there was the one that. Where Restorable was about, you know, how you save money, you spend it like, you know, you up your. You save your money, you spend it, you back down to zero. You save money, you back down to zero. And I thought, yeah, he's right on. You know, you save money and you save money to buy things, and once you buy it, you're broke. And so then he start talking about this. And I thought, well, this, that doesn't sound like buying insurance, you know, that just sounds like saving. Saving money. But, but how do you keep that money? You know, because that's what he was talking about, you know, you keep that money, you don't lose it. And so when I saw the whole video, I thought, ah, okay. And then that's when I got more and more into the videos and watching and all that. And then we got talking to Sarbo, and I already had. I already had made arrangements with him to get my first policy and everything going. And he says, well, have you read the book? I says, no, I know all about it, but I haven't read it. I haven't got it. So he sent me a copy. I got it. All right. And I read it I don't know how many times, and I think I got the message.
• 11:13
  Speaker A: And so, John, what would you say, I'm curious. What would you say to someone half your age who thinks it's too late to start?
• 11:22
  Speaker C: Well, the whole thing. Is that the idea, the idea of saving money? You know, everybody likes to save money and, and they know that saving is for a purpose, you know, to buy something. And then, you know, like, you know, okay, fine, then you spend and it's gone. So how do you hang on to get. How do you hang on to that value? That. That money? That's. That's the thing. And so here you have an opportunity of where you, you don't really lose your money. It's. I don't want to. I don't like to use the word investment, and I don't like to use the words of buying insurance either. But it's, It's a. It's an. It's a concept. Right, right. It's It's a, It's a vehicle that you use to put your wealth in or put your money in. And it just keeps. It just keeps going. And so you borrow against what you have in there. So unlike stocks, because when you buy stocks, you buy part of a company and you get a profit. Here you're buying part of a company because that's basically what you're doing with the insurance here. You buy it a part of the company, like you're getting, you're getting your, your, your dividends and you can. And your, Your personal money that you have in there just keeps, Keeps growing. So as you borrow money against it, you're profiting, right? There's a profit all around. And that's what got, that's what really got me interested because I had, I had some debts that I wanted to pay, and, and, and I had the money in the account for it, in my savings account, and I kept thinking there, well, if I take it out and pay off my car, I won't have anything. So that's when, that's when, when I talked to Sarblo and I got my first policy, and I did not realize that he was dating it back a year. So. And that's, and that's actually the kicker because the very fact that he did that within, within two months. Well, actually, within three months, I had enough money. I made. I made two loans, one after the other. I got one loan, paid it off and got another loan within three months and paid off my car.
• 14:04
  Speaker A: That's fantastic.
• 14:06
  Speaker C: You know, and that's because he, he backdated mind. It took all my. It took all my savings, plus a little more, but that's what happened. And so I'm still paying on my car, but in a different way.
• 14:20
  Speaker B: It's going to my bank to a system. You get to. You get to reuse the capital again.
• 14:25
  Speaker C: Yeah, it's going to my bank. See?
• 14:27
  Speaker B: Opus Bank. I love that.
• 14:32
  Speaker A: That is so good.
• 14:34
  Speaker C: Yeah, so good.
• 14:37
  Speaker A: That is so good. And congratulations, too. And, and so if you, you know, if you were. If you were speaking to somebody, watching this video or listening on, you know, their, their podcast app, and they were either just beginning to investigate this concept or maybe they've investigated it and they're sort of sitting on the fence, what would you say to that person? Heart to heart?
• 15:03
  Speaker C: Well, for one thing, yeah, read the book. Get the book and read it. Because really, Nelson, you know, it might be a little hard to understand at first, but he was right on. And the, the, the examples that he uses and There really makes a person think. Like, you have to, you have to rethink your thinking, you know, and Nelson said that too. You have to rethink your thinking. Like young, young people today, they don't, they don't seem to really have much of a, an idea in regards to saving money.
• 15:51
  Speaker A: Oh, ain't that the truth?
• 15:52
  Speaker C: Yeah, you know, you got, I know from experience with my kids, you give them a hundred dollars and they go blow it and they say, well, why didn't you save it? Oh, I got another check coming next week. Okay, but you haven't got it yet. But you've already spent it. Where's the, you know, so, yeah, people have, people have to change their thinking. But the, my whole, my whole thing is there that if you want to save money, this is a way to do it. The, the, the whole IBC concept there. The, the money. Because the money is always there and it keeps growing. You don't have to do anything. You don't have to run to the bank. And if you, if you need to take a loan from it, you request it. And my experience was that within three days I had the loan. And you paid back as you go. It's nice if you could pay it monthly, but if you can't, you know, you pay it back as you go. And if you don't pay it back, well, in this case, there, there's the life insurance part that kicks in. So there's, there's money, always money there. It's just the only thing is there that if you take all your money out and you borrow it or you make a loan on it, you're going to have to wait for a while to build up again. It's not going to be just, it's not going to be back automatically. You gotta, you know, wait for it. So paying it back. Like I already mentioned, I used to work in the grocery store, so I know all about the peas. I've seen the pews go out the back door. So you got to replace the peas. Right. So keep that, keep that shelf stocked and yeah, it only makes, only makes sense. My kids had a hard time explaining it to, to a couple of them. My oldest daughter, the one that got me looking at this there, she's got her policies. I explained it to my wife and I figured I was going to really have a hard time there. And she just says, why didn't you do that earlier? Okay.
• 18:20
  Speaker A: Boy, that was. I bet you, you felt, you know, obviously great, but that big. You know, John, given that you've lived you know, you, you've lived through a lot, right? You've seen, you've seen a lot of inflation, you've seen economic crashes, you've seen wars, you know, all of these things that you've lived through. How does, how does the infinite banking concept measure up to all the other financial advice that you've received over the years?
• 18:56
  Speaker C: Well, there's, when, when I, I believe you're the one that mentioned it, about how in this case, the life insurance has never failed.
• 19:11
  Speaker A: Right.
• 19:12
  Speaker C: All these years it's always been a positive, it's never been in the negative. And I checked that out and you're right. Yeah, there's no doubt about that. So that was a plus on my scale.
• 19:29
  Speaker A: So if you sort of contrast the infinite banking concept and everything that you've learned about it and what you've already experienced this early in your implementation of it, accessing policy loans, accelerating the repayment of debt, knowing that your cash value is growing daily uninterrupted by policy loans, how does that compare to the financial advice that you've received over the years up to this point in your life?
• 19:59
  Speaker C: Yeah, right. Well, what I have found is that I've already mentioned I've always lived from paycheck to paycheck, so I'm used to hard times. So it's not that. But what I have found is that here, now the very fact that I have four policies that I can draw from, I've only taken a loan on the one, so the other ones are back up. But if I need it, I can request it, and I have money. So it's not a matter of, it's not a matter of going to the bank and fighting and arguing about whether I can borrow a thousand dollars. Because they look at, well, you don't have the income to pay us back, so we can't give you the money. And here I don't have to worry about that. The money is there. I can borrow the money and come my payday, and that depends upon the government. And then when my payday comes, I can pay it back. I don't have to worry about. So my whole idea of money, it's completely changed. You know, I used to, well, you know, when you're, when you only get so much and if you have a regular job, you know, you work an extra hour, you get a little overtime or you get a little extra, you know, you get a few extra dollars or you can go on and do another little job on the side. I can't do that anymore. So I have to wait. I have to wait. What? I was going to say Uncle Sam, but it's not Uncle Sam, but, but anyway, I have to wait what I get from the government every, every month in order to be able to pay my bills and so forth. But now I really don't care. And I, I only got the four policies and I don't have, I don't have a million dollars in there. The, the smallest one has only got a thousand dollars in there that I could borrow, but it don't matter. It's there. And the most that I would really need right now is maybe an extra $3,000. And it's there. I don't have to worry about it. It's there.
• 22:41
  Speaker A: Well, Nelson, you know, he's come up a lot today in, in our podcast interviews and as he always does, you know, credit to him. And one of the things that we mentioned, we were just down in Birmingham at the Nelson Nash Institute Coaching Academy where Richard and I and a few of our colleagues, we work alongside each other in coaching agents from across North America. And Nelson often said what a peaceful, stress free way of life it is when you get the banks out of your life. How does that statement land with you given what you've experienced so far?
• 23:22
  Speaker C: Absolutely, absolutely true. I believe on one of the podcasts you mentioned that you get to a point with ICB where suddenly instead of you going to the bank to ask for money, they see your success and now they come to you. How would you like to borrow money? See, and I have that. I get a letter at least once a month that your credit is so good. Would you like to borrow some money? We'll give it to you for 10 months, interest free.
• 24:07
  Speaker A: Shocker.
• 24:08
  Speaker C: But I got no bills now. I don't need them now. Yeah.
• 24:17
  Speaker B: You know, I think it's so incredible, John, that again you're, you know, I'd like to, I would say 82 years young and you're experiencing life in a way that, you know, you're really showing up here in an experience I think with us today. And there's something about knowing that there's always something new to learn.
• 24:36
  Speaker C: Yeah.
• 24:36
  Speaker B: I think that's so powerful. And you've obviously taken that in. You know, despite whatever your past experiences were with insurance or everything else, you were willing and prepared and open to be open minded and explore an opportunity that could make an impact in your life. And then you made the decision to move forward, which only you could do. And I think that that's so important to recognize that it doesn't matter where you are in life, what age you claim to be or feel that you are, there's always this potential that exists within us. And one thing I'm really excited about, and I. I imagine you are, but I want to hear from you on this is that, you know, thankfully, your, you know, your oldest daughter suggested that you go down this route and do a little bit of research. But now you have a. You have a communication mechanism, at least with her, about what you guys are doing financially, that's different. And I would imagine that creates a new experience for you, you know, as. As a father in conversation with your daughter. And I'm just curious, is there anything that comes up for you when you think about that, the ability that you guys have now to communicate about something common, a common language that Nelson provided for you guys to bond around?
• 25:54
  Speaker C: Actually, I don't talk with my oldest daughter too much about this right now. I mean, she's got her. She's got her policies and she's working with that. She's too. She's too busy with her, with her work as well for us to really sit down too much. Except for that she helps me out when. But I have my youngest daughter, I got her a policy on her and, and also my grandchildren from her, so. And yeah, we talk all the time. And Sarblo sent me an invitation to watch a video, and on that, he had, in the back of it there, he had a little blurp about how important money is in our lives. And it was so good that I, I actually copied it because, you know, he says money is so important in our lives. Why is that? Why is it the one thing that nobody talks about growing up? Yeah, such a question, you know, and it's so true. I went over the whole thing and I thought, yeah, why. Why don't people talk about money? And, you know, where my kids do? I know when I was. I was a kid, money taboo. You don't talk about money. You know, it's like religion and politics. You don't mention that to anybody. That's whatever, whatever they want, that's fine. You know, you don't talk about it. And it's the same thing about money. But why not? You know, we do. No matter where you go, money is required. Whether it's plastic or whether it's cash or whatever, your credit card money is involved one way or another. You do everything with money. So I can see the importance of talking over it, but very few people do. I am just starting to get into that with my kids. The Grandchildren. And I have one grandson who. He wants to implement this himself, but he hasn't got the money to do it. But I told him I would help him out because I have the finances now, that I could help him out and get him started on it, but he has to come up with the rest of it. So.
• 28:35
  Speaker A: Yeah, that's so good. And John, you know, you've heard the expression that you can't buy back time, but you. What, what you've done is you've bought back control.
• 28:50
  Speaker C: I bought back control, yeah.
• 28:51
  Speaker A: And so as you, as you really, you know, think about that, how do you hope that your story gives other people courage to do that?
• 29:00
  Speaker C: I classify what I have done successful. I've been going from, from. From paycheck to paycheck. I've had many good jobs, some that have paid me excellent money. But where is it? You know, it's all, it's all gone. And, and the only thing that I have is, is what I managed to save out of all that. And even when you calculate as to how much you save, once you get into ibc, you find out as to how much you lost too, because you might have saved $10,000, but in order to have that 10,000, you probably lost 7,000 on the side. And either in interest that you didn't get or dividends that you didn't get. I used to buy stocks, lost my shirt on that because that's not the way to go. So IBC is the whole concept. It's a way to take control of your finances in your life. And I would suggest that to anybody, no matter what your age. At my age, it doesn't pay to buy insurance, life insurance on myself, but there's nothing to stop me from buying a policy on the rest of my family. They're still. I can still get policies on them. And the dividends. And I don't mean the dividends that you get from the company, but the satisfaction, if I can use that word, the satisfaction of just knowing that you're in a position where you can help your family and if they are willing to learn how to handle their money properly. And certainly IBC is one way of doing it if. Or the only way of doing it if they. And if they're. But if they're willing to learn that, then they got a future ahead of them as long as the system will let them.
• 31:39
  Speaker B: A future so bright they'll have to wear shades.
• 31:43
  Speaker C: Yeah, say that. Yeah, it's bright. Yeah, yeah, but. But yeah, it's. It was an eye opener. To me. And I'm sure, I'm sure that there's a lot of, a lot of clients that you have that will say the same thing there. Why did I not do this 20 years ago? Because those who have, and, well, like yourself too, you know, you're, you're not looking back.
• 32:22
  Speaker A: That it reminds us of something one of our other late mentors used to say. Bob Shiels, again, another wonderful man. And, you know, we think about him all the time and bring him up each time something like this comes up. And he, when we first met him, he was in his early 80s and he said, one of the things that you'll hear a lot is people ask, what if I had known about this 10 years ago, 20 years ago, 30 years ago, 40 years ago? And Bob would always reply with the same thing. You can't say that 10 years, 20 years, 30 years, 40 years from now.
• 33:08
  Speaker C: That's right.
• 33:09
  Speaker A: Because you know what you know, and one of the things that I, I would, and I know that Rich is, is likely thinking the same. I would encourage anybody watching or listening to, to just really, really take a moment and sit. Sit with what you just heard. John Share this is a man who's, he's worked his whole life. He delivered newspapers as a kid, milk as a young man, groceries as a father. He swept school floors. He stretched every dollar. He lived the, the story that, you know, so many Canadians know too well. You, you work hard, you hope it's enough, and you pray that you make it to retirement. And then at 82 years young, he's changing the ending. He's discovered that control is possible, legacy is possible. Peace of mind isn't just for the wealthy or for the young. And he never lost the ability to be receptive to learning something new and to think differently. And so speaking for myself personally, I mean, if that doesn't inspire you, I don't know what will, because the truth is we don't. We don't rise to the level of our income. I think what John's been trying to convey so eloquently and amazing, John, you've been an incredible guest. Is that we rise to our level of thinking. And today, this interview, we saw what's possible when somebody decides to stop renting their financial future and to start owning it. And so my question for anybody watching or listening is, will you wait until it's too late or will you start building the bigger financial future that you deserve today? John, this has been incredible.
• 34:55
  Speaker C: Yeah, well, like I say, I feel bad that I didn't start earlier. But I'm glad I did start what I did. Yeah, yeah, it would have been nice. It would have been nice if it was 2020. It'd be a different story today. But, yeah, like you say, 10 years from now, if I'm still here, at least I can say I, I didn't start it.
• 35:22
  Speaker A: That's right.
• 35:23
  Speaker C: Yep. So, Rich.
• 35:25
  Speaker B: Yeah. You know, impact of, of course, being in a retired state. Again, we have people who often will say things to us or ask questions, John. They'll say, well, what am I going to do? Or how am I going to pay premium when I'm retired? How am I going to continue funding my system when I'm retired? And Jason's common response to that is like, well, you still need the use of money, don't you? You're still going to be banking someplace. And, you know, I think here you've identified and really showcased that that is the truth. That is the, the real reality of life and you're experiencing it. And you being retired, you're receiving a retirement income and you're still creating a future bigger than your past.
• 36:12
  Speaker C: Yeah. Yeah. When I, when I, when I, when I started, when I started this September. No, July. June. July. So we're just, we're just approaching the one year I had, I had a total of 9,000 in my savings. And I had two separate little accounts where I was putting in $25 and $50 a month. Just kind of money that I managed to kind of sneak out of my, you know, my daily, my daily allowance, let's say. And anyway, that built up to the point there that when I got my first policy, that within one month I made my first payment on my car. I paid it back the next month and then the month after that. And the reason I paid it back the next month is because those other two matured. So I had the extra thousands of dollars coming from that which I could use. So those are my pennies that I saved. See, they finally accumulated enough there that I could use them. So the thing is there that on my third month, I managed to get the loan, my second loan, I paid my car off. And today I managed to get enough money so that I could borrow or I lend money for myself so I could buy another policy. And then I got my two grandchildren on another policies, and I'm working on a granddaughter to get another policy number five. And I got a grandson that I'm trying to work on. But the, the, the thing is there when you, when you balance it out, that's the thing you have to learn to do or have to know how to do. Because I could keep borrowing, but then I won't have anything to pay it back. Right. And then it's gone.
• 38:42
  Speaker B: Yeah.
• 38:42
  Speaker C: Because so, so I have to make sure that, you know, I keep my, my balance between what I, what I borrow, what I have to pay back and what I'm buying. I got those, those three. Plus I have to live in between.
• 39:06
  Speaker A: That's important.
• 39:07
  Speaker C: That's important.
• 39:08
  Speaker A: It makes sure you live a long time too. Because this, you know, again, at 82 years young, John, I mean, this is not about age, it's about awakening and you finally have a future that's under your control. The things that you just described, you're in a position of total and absolute control. And Nelson often said that it's never too late to get into the banking business. And so I, I can't implore viewers and listeners enough like stop just surviving and start owning. There. There's a concept, a process, a method of going about doing that gradually and incrementally. And it's never too late to, to get started on owning the, the bigger future that you deserve versus just surviving.
• 40:03
  Speaker C: Right, Rich?
• 40:04
  Speaker B: Yeah. There's something else that you identified, John, that I really want to make sure our listeners take away and connect with. It's something that we also have mentioned on, you know, geez, I can't even count my times, Jason, and all the presentations and things that we've done. I remember doing this on the whiteboard, you know, and some, you know, some of the different, you know, boot camps that we used to do and making the statement that car payments never end. And you know, here we are, we're talking to John. John's was making car payments. He's, he's obliterated, he's still making them, but he's making them back to a system of control and ownership, which is what we're, we're working towards. And it makes me think of the twin sister example on page 45 of Nelson's book. You know, in that example, there's 11 car purchases over a lifespan and the final car purchase happens at around age, I think, 68. And, and you know, Nelson, the only reason he didn't keep doing it is because it would have squished all the numbers even smaller to, to make the chart any bigger on the page. Right. So he knew that they were still going. And by the way, John, you may not have known this, but on that page, on page 45, the car financing package is $10,550. That's the trade in value, value for a Chevy Malibu that his wife Mary used to like to drive. And so they would trade in the existing car and the financing package, dollar amount was 10,550. So that's why Nelson used that number in the book, a real, real world, real life example for himself. And he put it to work in, in the book for us all to see. Essentially, these are like the little things kind of in the background that I always connect me to Nelson and, and I, I can see so much of that in you and your story in that we help people and we try to help young people, people of all different walks of life recognize that, look, you need the use of a car one way or another. You're either using yours or you're using someone else's. You're leasing it or you're renting it, or you borrowing from someone else to get access to it, and you're paying them forever. Meanwhile, that car is going to eventually expire and you're going to need to replace it. These are just fundamental truths in our life. And the fact that you're able to have the autonomy that you've taken on by changing positions with another bank for the use of the car that you're driving today and that at 82, you still need that car. I mean, people need to recognize that that is the truth.
• 42:40
  Speaker C: Yep. Yep. Either not a walk.
• 42:45
  Speaker A: Well, John, I, I've got, I, I have a question that's come up, you know, just recently in, in the conversation. And I'm, I try to just think about how I can frame it. I guess I really want to know, like, how does it feel, how does it feel to know that after all these decades of serving others that you've finally done something that serves you.
• 43:14
  Speaker C: Pretty good? Yeah, very satisfying. Wish I could have done more, but, you know, you can't. Look in the past, what's, what's. What's back there, that's, that's gone. You got to look towards your future. And you know, it's not like, it's not, it's not the idea of being rich or, or like, like, you know, my, my intent is not to be a millionaire or anything, but to be able to, to be able to control my money as to where it goes, how it goes, and, and, and not run out. I have always, everything I've always done by buying something, it has to be able to pay for itself. The bicycles that we were talking about, I'm not papers, they had to pay for themselves. They Did. They helped me deliver papers. I made money on that. They had to pay for themselves. You know, anything you do, if, if the money that you have, you could have. You can have a million dollars you put in the bank and it just sits there. It's not doing you any good. The bank's making money, but it's not doing you any good. So, you know, put it to work. How do you put it to work? Well, here's a, Here's a vehicle that you can put it in and you're putting it to work. People, other people, they use to buy stocks, they put in the stock market. Yeah. Today they make money, tomorrow they lose money on it, and that's the way the stock to go. But here you're buying part of a company because really that's what you're doing by buying for the insurance dinner, you're buying part of the company. The company pays you dividends every year. And depending as to how much, how much profit they've made, you know the calculates as to how much of a dividend you're going to get. But there's always a return. Plus the very factor that the money that you have sitting in there, it's still yours. Now, you can't take it out like that and use it because it's there to pay for the life insurance. But you can borrow against it and you're in control. You borrow or the value that it builds up every day, it increases every day you borrow against it. You can pay it back as you go, or if you don't pay it back, well, it comes out of the life insurance in the end. That means that whoever collects or supposed to collect up insurance when that person reaches maturity or graduates or whatever you want to call it, the insurance just gets reduced because of what you didn't pay. But you got the money. You are in control and that's what counts to me.
• 46:41
  Speaker A: Take us home, Rich.
• 46:43
  Speaker C: Yeah, and. And I hope that, I hope that that's to my kids too. So.
• 46:49
  Speaker B: Yeah. Love it. John, thank you for being with us today and we appreciate you sharing your story, sharing what's true for you and I. I do believe that, you know, when we get a chance for this to air, you'll. You'll certainly show up as a hero to a number of people who can see perspective through your lens and through. Through running it through their own eyes. And the question we have for you is who would you most wish to be a hero to?
• 47:11
  Speaker C: You see that? Yeah.
• 47:13
  Speaker B: Yeah. John, for our listeners on the driving in their cars he's got a mug that says best dad ever that he's holding up.
• 47:21
  Speaker C: Yeah, my kids, they, they love me. They've already made them, made me their hero. So we'll keep that going.
• 47:31
  Speaker B: Fantastic. John, absolutely incredible. Again thanks so much for your time and for being with us and sharing with us. You know so much of your amazing story. For those of you of course turning in on the youtubes you may notice this. It's common for a lot of videos that they just pop up an amazing one that's a recommendation so you should see that right now and if you click on it you're going to get more great knowledge. So don't let us stop you. Go ahead and click that link and continue that ever important journey of learning. John, thanks so much for being with us. Jason, I appreciate you. For those of you tuning in, we'll continue our incredible stories next week.