Justin Trosclair 0:06
Episode 130 life insurance options. I’m your host, Dr. Justin trust player and today we are Trevor Jackson’s perspective.

2017 and 2018 podcast Awards Nominated as we get a behind the curtain look at all types of doctors and guests specialties. Let’s hear a doctor’s perspective.

How’s everybody doing? recharged, ready for the rest of the summer. Remember, sometime or summer can be slow, but you don’t have to be that way. If you plan to head, you could have had events scheduled for the summer, maybe on the weekends, health fairs, all these events to where you actually are staying busy keeping on top of that new patient marketing plan. And you say man, it’s already too late for me. Okay, cool. Cool, cool. Cool. Move on over to say October or December and start planning now.

What can you do then start checking websites and you’ll be able to find community calendars, Christmas events Halloween could be a promotion so just look ahead a few months and try to plan something that way you can stay on top of the new patient cycles want to throw out there haven’t mentioned this in a while today’s choices tomorrow’s health book, we’re talking lessons from China blueprints for cardio and weightlifting because I used to not enjoy those things and now I do basics about actually finances and things we’re already talking about that sticking to a budget making the budget intermittent fasting, some definitely some strength exercises and stretches that you should be doing or could be doing to keep yourself strong. A lot of fun writing this book. So check it out a doctor’s perspective, net slash t see th ER and get it on Amazon it slash my book. Okay. One thing fun about living in China is I can actually source products easier. Pretty much anything you can imagine that you would find in one of those magazines for promotional items. I can find that here. I work out I like to wear those dri fit fast

moisture wicking type of material and I’ve even found some that are Polo style that actually look good, feel good and work. It sounds like me. If I had those things that you don’t have a clinic, I probably like my two or 300 of them, but I’m really inexpensive they’ll do the printing for you as well ship it over and you get a shirt for like six bucks versus the way usually cost which is more and not just some little dumb bvp that’s like uncomfortable but actually like a quality polyester or blend or whatever like if you want you know nice traveling they have those if you want to go workout shirt to have those. So like this week, I got a couple of samples in and tell you what if you’re into the clothing manufacturing companies, we the front one kind and in the back of the shirt is bigger holes. What would that look like throughout the whole shirt? You know, what does it cost to have the front end in the back different? All kinds of different variables way more than I expected to have to deal with? I was just like, hey, do you have these shirts with this material? already done all we do is do some screen and mail them and turning out to be more work than that. So can imagine it’s only one of the

produce an entire clothing line. He might have details. That’s pretty wild. As neither here nor there. Just if you’re interested in that kind of stuff. Some of the Minnesota episodes talk about like Amazon and marketing ideas and the shock and awe box that some people talk about real quick shocking all box would be new patient comes in, maybe they come in, they spend a certain amount of money or they are they’re like a couple times. And then you mail them a box and might have a shirt and might have a mug, a water bottle, you know all branded, you know quality stuff where they actually want to use them you know, stuff like that. Maybe if you had a book you put your book in their books are inexpensive to print their black and white, you know, it’s like a big business card and hopefully has what you believe in, think about it. You know, they’re not always up to date, like you might have changed your position on certain things. But to get them reprinted be tough. So you just make a note of that to somebody if you really cared, put a little letter on top, put that in the mail. My goodness, imagine getting a box in the mail randomly from your chiropractor, dentist just saying hey, things on to the clinic family. Alright, that’s enough. Trevor Jackson today, with all my life insurance, we covered a little bit on the last episode, gonna go deeper, because there’s these things called Be your own banker, infinite banking, tax free retirement directly. The idea is that you buy like a whole life or Universal Life universal index, and you can use it for retirement plan, like you put more money than you have to in it each month. And then later on, you can like buy a car and just pay yourself back. So you’re acting like the bank at an interest rate. But then the money that’s in there that’s growing each year, because it’s tied to some kind of market. It keeps growing even though you borrow some from it, you just got to pay it back. And it’s little more complicated. That obvious why social is based on this. But we’ll discuss also that you will want to know how to use it as a retirement supplement. But also to sort of like as part of your retirement plan, like diversifying your tax buckets. We’ll go through what a Million Dollar Baby Plan is, it’s kind of a cool idea. breakdown with family banking is super funding, living benefits. That’s a really cool thing. You know, if you had a stroke, you can start tapping into your your life issues before you actually die. So real cool stuff. We got the national Vice President, this one company on Trevor. So all the show notes can be found at doctor’s perspective, net slash 130. Let’s go hashtag behind the curtain.

Live from China in the Denver Metro Colorado area. Today on the show, we’re going to continue the financial series, we’re talking about something that it’s hard to get your head around sometimes, at least for me, and his backstory real quick. He was in health insurance, he was really knocking it out the park, I think eventually you get to the point where you need a new a new adventure. And so he started in 2011 with this place called Five rings financial. And since then he’s not the national vice president travels all over the country speaking about the basics of money investments, and all those things that we probably should learn in school, but we didn’t. So please welcome to the show. Trevor Jackson.

Unknown Speaker 5:47
Hey, thanks for having me, man.

Justin Trosclair 5:49
So good to see you again. It’ll come out at some point, we knew each other way back in Colorado, and it’s just been fun, you know, 10 years later, whatever, you start to see someone else’s, you know, some as a kid, they become the national Vice President and you’re like, Man, I wish I knew this guy when he was nothing. This is crazy.

Unknown Speaker 6:05
Right? Totally else insurance. You know,

Unknown Speaker 6:10
it’s funny. I don’t know if it was a money thing. But people who sell health insurance seem to always get out of it after a while because I guess that’s what I’ve noticed that the Commission’s aren’t quite there for the amount of work that it takes the I don’t know if that’s what is your case or not? Absolutely. You know, when I first got into when I got into health insurance, I was straight out of college back then, you know, the commission rates on selling health insurance were pretty dang high. And so you could, you could actually make a living selling health insurance. Um, so that’s why I was in it. And then I think when you and I, you know, met, I was kind of on my way out, they’d cut commissions two or three different times. And I was looking for, for a new industry to kind of get into, I had looked at, you know, real estate, a bunch of different other industries, and just kind of decided on the financial industry have always been pretty interested in money, like most people are, but found our company and been with them ever since. So,

Justin Trosclair 7:05
of all the companies, is there, like an angle that they have? That’s kind of unique before we jump into the meat of this interview? Sure.

Unknown Speaker 7:12
Yeah. You know, they are, they are pretty unique in the fact that they’re actually they’re sincere about educating people about money. You know, I feel like it’s the cliche thing nowadays for financial companies to say, oh, we’re all about education, educating our clients, but then they don’t really follow through on it too well, so our company, we do these educational workshops, where, you know, we invite people in for a free dinner, just like a lot of other financial companies do. But with ours, we don’t sell any product. It’s purely educational. So nobody feels pressured to buy anything. You know, we make it fun and entertaining. So people have a great time. And we teach things that a third grade level, so people understand instead of trying to speak over everybody’s head, and so I really like that about them. Hmm,

Justin Trosclair 7:59
yeah, that’s cool. Because I know there’s some professionals like copywriting, for instance, will do lunch and learns as well. But there’s definitely a sales pitch at the end. Because why would you be having dinner with a chiropractor, I mean, everybody knows why you’re there. But at least you don’t have to feel so pressured. Like, alright, so I’m going to come to your house tomorrow, right at five o’clock. We’re going to continue this the steak dinner.

Unknown Speaker 8:18
Yeah, exactly. Okay. Oh, well, well, and that’s the big thing. I feel like the financial industry kind of has that negative stereotype that, hey, I’m going to talk over your head so that you don’t understand I look smart, and just give me your money. And I’ll figure it out, right. And so people just don’t like that, just by us not trying to sell them anything, they actually do want to offer their business to us. And, you know, we don’t have to pressure him for it. So

Justin Trosclair 8:43
unlike last week’s episode, if you listen to that long, it’s like an hour and a half is so long. But Wow, yeah, we covered like so many different things. If you don’t know any of the terms that we’re talking about today, you can check it out, he can explain it. But there’s just so much that you can just confuse people with and I think bamboozle them, and then you don’t know what you’re buying at the end of the day. Yeah. Which is, we practically spend a lot more time last week on life insurance, but I knew you were coming up in the program that we’re talking about, there’s different names for it, I had read a book called Be your own banker think that was maybe the original idea of this, then there was infinite banking, which same thing, different spin. And then now there’s a little bit different completely, because there’s this kind of called tax free retirement, if what I had heard, it was always these very specific Universal Life policies. And that’s what you would use, you’d over fund those, you’d borrow money from it. But because you bought so much, the value is always there, it was tied to the stock market and all this and I’m doing a pretty bad job here. Explain it and people get confused. So if you know what I’m talking about, let’s just jump in, what am I talking about and your view on it, and maybe why you chose you do not the life insurance policy part and explain what we’re talking about. So this is that the audience is doctors, maybe discretionary income, maybe have enough money to where this program can work has always felt you need to have a certain level income to make this thing really work. Like you couldn’t do it on like 40. Green, I could be wrong. But

Unknown Speaker 10:04
well, yeah. And that’s a kind of a common misconception is we really do work with everybody. But yeah, another reason why I like the company we I work with is just because we specifically work with middle Americans. Now we work with everybody. But that’s who we really try to target because you know, all the wealthy have 100 financial advisors, knocking down their door every single day, but nobody’s going to average Joe’s door and trying to get their business. So that’s why try and work with them a little bit more. But as far as the life insurance stuff goes, Yeah, there’s a bunch of different names that it goes by. So like you said, Be your own banker, infinite banking, tax free retirement. Now the be room, I really think that the The only difference between all of them is just what the goal of the money is. So be your own banker and infinite banking that came around basically, to start a permanent life insurance policy. And they traditionally used whole life and to grow a significant amount of cash value in it. So that you could potentially be your own banker, right? So that you needed to purchase, let’s say, a car, five or 10 years down the road, instead of borrowing money from a bank, you could borrow it from your own life insurance policy, pay for that car, and then you just pay yourself back instead of having to pay a bank, and then hopefully, you’re paying a lower interest rate on it, which is then you know, making you more money on that investment. Now, tax free retirement, we focus on a little bit different piece, which is the goal of the tax free retirement is not necessarily to purchase things. Now you still have that ability, but it’s more to set up this as a retirement supplement. So a lot of people don’t know like, why why would you want to build a cash reserve inside of a life insurance policy? Well, it grows a lot like a Roth IRA. So you’re putting tax dollars into it, it grows tax deferred, and then when you start to take it out and retirement, it’s all going to come out tax free. And so every financial advisor, I mean, I don’t care what show you listen to on the radio on TV, they always say, hey, fully fund your Roth. Right? Right. And the reason the reason is, is because tax rates are so low right now, if you’re thinking long term, and you know, you have to pay taxes at some point, you’d rather pay him when tax rates are low, then probably in the future 20 or 30 years down down the road, when tax rates might go up 1020 30%,

Justin Trosclair 12:29
especially way not to go political. But the way 2020 elections series is starting to pan out, it seems like there’s not a sustainable way to keep our taxes the same level that we’re at right now.

Unknown Speaker 12:39
Well, and just think of in Europe, not to get political, but think of, you know, everything everyone wants the government to pay for nowadays. And then also with the the national debt that we have, there’s only one way that we’re going to pay that back. And that’s through either actually having a budget, which probably won’t happen seems like nobody what he wants to do that, which leaves us with increasing taxes. So I would put my money on on tax rates going up in the future, for sure. And it’s been 20 years already, since we’ve been out of high school

Justin Trosclair 13:12
and all this kind of stuff. And we’ve already seen some things change that we probably never expected to see happen. Our parents, you can’t use this water faucet like they were blown their mind is like all in 50 years, you really think it’s gonna be like that you’re like, yeah, it’s gonna be completely different. So it’s a thing. Yeah. And we’re that age, what in the world could be what would America be is just unheard of? Like, we don’t even know. Yeah, but uh, no, that’s why I like the idea of I love Roth IRAs, and kind of in that camp, where it’s like, Look, I use a maximum as much as I can. And then later on, it’s just tax free.

Unknown Speaker 13:42
Absolutely. Yeah. Nobody likes taxes. Yeah.

Unknown Speaker 13:46
So what’s the next piece? So I think the other question that you had asked is, you know, what kind of vehicle Do you use, you use whole life insurance, or you talked about just a second ago, universal life. So whole life insurance, I feel like is just kind of why do people use whole life, I think it’s the old way of doing it. Whole Life Insurance has been around for ever. And if you know anything about the life insurance industry, it is a pretty slowly evolving industry. I mean, they don’t change a whole heck of a lot. And so I feel like most life insurance companies, they just use whole life, because it’s been around forever. So that’s what they know. And that’s kind of what they stick with the other types of universal life. And a lot of people don’t know that there’s, you know, there’s the traditional fixed, which is going to give you a guaranteed rate of return. There’s variable which is tied to the stock market. So it’s going to go up and down, you know, you could lose money in it, gain money in it. And then there’s also indexed, and that’s the one I like the best, just because it, what it does is it tracks an index like the s&p 500, for example, but it has a floor and a ceiling to it. So let’s say over over a given year, the market goes down all the floors is zero percent. So worst worst case scenario, you can’t lose anything money, but you also don’t gain any. But then when the market goes up, you get to participate and all that upside up to whatever the ceiling is the company that’s probably most popular that we use right now that ceilings at about 10 and a half percent. So I mean, it does. Yeah, exactly. So you can do up to 10 and a half percent every single year. And then kind of preparing to come on your show here. I was looking at the numbers. So since 2011, the the indexed Universal Life policies have averaged 9.173% a year, since since 2011. And that’s pretty much exactly what the market did. But the difference there is there’s no fees to get that 9.173, other than the insurance piece. And you mentioned there was

Justin Trosclair 15:43
another one, the universal, they give you a rate a guaranteed rate is that only like 4% or something so you don’t captured a full?

Unknown Speaker 15:52
Yeah, it’s about between four or five, kind of just again, just depends on the company. And that’s another reason why I’m not you fan of using whole life for tax free retirement or something like that. It’s just not very effective to build a lot of cash. Number one, the cost of the insurance is much more expensive than universal life insurance policies. And then it builds cash value based on dividends. And the dividends usually only pay, you know, 234 percent, again, just depends on the company. Okay, I like the idea,

Justin Trosclair 16:26
zero percent, or up to 10 and a half percent. That’s pretty cool. But at the same time been the market can drop, it could drop for several years. So is there a benefit to having one that says, hey, there’s only 5%, but it’s always 5%? No matter what. So low year, it’s 5% is mean, you have to really compare those is there like in historical data, like which one actually wins over a 30 year period?

Unknown Speaker 16:48
Yeah, well, I mean, and that’s the, you know, every financial person will tell you, oh, hey, get in the market, right? Because if you look at the historical average of the market, it’s going to average about 8%. Right? So you got to figure 8%, going to do better than five, the guaranteed five, you’re right, but the guaranteed five is going to outperform it probably in the short run if you have a couple years where the market goes down. But in the long run, you know, you’re going to do better with with an index more than likely, you know, if it if the market performs the way it has, in the past, disclaimer, past performance,

Unknown Speaker 17:19
not make future performance possible. That’s exactly right.

Unknown Speaker 17:25
We’ll put an asterisk by the

Justin Trosclair 17:29
guy, he’s like, you have to read this paragraph for me. All right, just supply of a paragraph. Or so regulated?

Unknown Speaker 17:38
Oh, yeah. Well, and see, I’m I’m not as regulated. So what we do is, again, the niche of our company, is we only work with these indexed or fixed accounts. So we try to be the safe money, people just because you know, there’s 100 financial advisors out there who will put your money in the market. And that’s just kind of what makes us different, we won’t do that. We can guarantee you won’t lose any money because of market performance. So

Justin Trosclair 18:04
and now we’re talking about indexes, like my mind goes to fame guard, I shares those types of companies. We’re not talking that type of index, we just mean, like s&p 500. Or there’s a lot of actually indexes out there.

Unknown Speaker 18:20
Right. Yeah. s&p down as jack Russell, you name it. Yeah, so the differences and a lot of people do get confused on that pieces, they confuse index fund with an index account. So an index fund is nothing more than a mutual fund that directly mimics the performance of an index. So you know, you can buy an s&p 500 index fund. And so if the market goes up, you make money, if the market goes down, you lose money, right. And the fees on it are super low. And so those are usually a great option for people in the market. But then these index accounts, like I said, they’ve got that floor and that ceiling, but your money’s not actually invested into the market, they just just use the performance as an index to credit the interest.

Justin Trosclair 19:03
So the insurance company, you bought it from there, as a company is making money off of your money by investing in different things. It’s just that, yep, they might be making 25% in some amazing deal they have that we’re never be privy to, and that I will give you the Yeah, that s&p 509% this year, but we actually made an extra 10%. So we’re still winning. So in case all these people die, we have Yeah, you guys,

Unknown Speaker 19:27
hey, if they want to get risky with that money they can. Another reason I like the indexed accounts is it’s super easy to figure out what you’re going to get as an individual. Like I said, somebody who’s not in the industry, sometimes it’s hard to know, you know, what the markets doing and how your particular portfolio is going to perform. But with these index accounts, you can say, hey, on, you know, January 1, the s&p was at x, one year later, it’s at y. So that’s a 10%. growth, I get 10%.

Justin Trosclair 19:55
So again, what’s the point then, because we technically are a buyer by policy, maybe half a million, you know, maybe a million. And so anytime we die between now and forever, we know our family members will get a million. So why are we wanting to build this cash value underneath it? What’s the point? Sure.

Unknown Speaker 20:12
Well, just the fun, fun retirement, you know, a lot of people have have life insurance. And over the last 20 years, the thought has kind of been a by term and invest the rest. I’m sure you’ve heard that.

Justin Trosclair 20:24
Yeah, that’s what I’ve heard a

Unknown Speaker 20:26
lot. Yeah, exactly. Well, that started, what 20 or 30 years ago, and it’s kind of proven out to not work. Because what happened, what happened was people buy term and they wouldn’t invest anything. So now they’re, they’re 20 or 30 years down the road, their term life insurance expires, right there, either. Well, number one, if they want to get more insurance, it’s going to be just outrageously expensive, or they’re too sick to even get it. And then they have no savings either. So with a permanent life insurance policy, number one, if you pass away too soon, great. You have the the life insurance piece, and if you live too long is what we joke about it right? If you live too long, and you get to retirement, or great, you have a big pile of money there as well that you can supplement your retirement. So the idea

Justin Trosclair 21:11
is I’ve got my Roth IRAs, I got my 401k and 63. I’m retirement I’m collecting and I got Medicare going on, and I’m living the dream, then all of a sudden, like, Oh, wait, I have this life insurance policy. I’ve got another million in there, and actually just draw that down over the next 15 years. And then when I die, that million dollar policy I had is just reduced based on how much I’ve actually taken out. Is that right? Yeah, absolutely. As long as you don’t reduce. This is the part I’m curious about. There’s a barrier, you have to make sure you can keep it at like maybe the whatever the premium would be that month, and I’m not sure if that increases as you age, or if it’s locked in forever, but she start buying a boat and a new mansion. All of a sudden, it’s gone. Everything’s going.

Unknown Speaker 21:54
Yeah, you could split Yeah, that’s the other thing you could spend it all. Now one of the the most popular company that we use, the reason I like them so much is because they have a pension option with it. And so if you get to, you know, 6065, 70, whatever you decide that you want to retire, you could turn on a pension from that money that’s going to be guaranteed to pay out for the rest of your life.

Justin Trosclair 22:18
And it wouldn’t when you die that your family still gets the rest.

Unknown Speaker 22:21
Yep, yep. And then your family gets whatever’s left over. How’s that different than say, you didn’t have that little piece to it when you still have access to and you can just set it up like, hey, just automatically withdraw 3000 a month? Yeah, well, the difference is, then there’s no guarantee that it’s going to be there. So Oh, just to just show you an example. So most people are used to investing, you know, most people have their 401k for retirement, right? How long does the average 401k last somebody into retirement? I hope 20 years? Maybe I’m gonna go like maybe 15? I don’t know. Seven? Oh, come on. That’s not good. Yep. Swear to God, seven. And the reason is, is because we have access to all of that money. So the day we retire, we turn 65, we could take it all out, somebody buys a new truck. Exactly. We don’t reduce our lifestyles at all, we start going on trips, we start doing on all going on all of these, you know, excursions, are buying all these things. And so we just blow through our money so quickly, even though we’re not bringing any more in. So people were retiring at 65, they’re out of money at 72. They’re not there, they’re going to live until their late 80s, early 90s, which leaves people you know, 10, 1520 years living on Social Security alone, which isn’t nice for anybody. So to get back to the point of the life insurance, so yeah, you can take it all out anytime you want. But what you are risking is that you’ll run out of retirement, or you’ll run out of money in your retirement. The other side is if with this pension option, you can choose that and they will pay you whatever that is for the rest of your life guaranteed. And it’s still all going to be tax free. So even if the market tanks, you know, and you don’t earn another cent, they’re still going to pay that to the rest your life and you get to pick how much that is? Well, so based on how much you have saved, they’ll give you a number and say, well, we’ll pay you X amount. So you know,

Justin Trosclair 24:10
so no lump sum payments, or any 10 G’s that like in again, 10 G’s, you’re committed to 2000. And that’s all you’re getting?

Unknown Speaker 24:18
Yeah, well, that. And that’s the thing. So if you want the pension option, great, you can take it and if not, you still have all that flexibility, take all the loans you want and all that, you just, that’s the given take, you give up that guaranteed security to have that forever.

Justin Trosclair 24:30
So that’s the hard part is if you’re not if you weren’t disciplined when you were 49, spend all your money, it’s gonna be pretty tough when you have a huge amount of the end.

Unknown Speaker 24:38
Well, people get pretty conservative with their money once they get closer to retirement. You know, I think 2008 really scared a lot of people, you know, people who retired in 2007. And then a year later had half as much money sitting in their retirement accounts. People remember that. So I remember that people get, yeah, people get pretty conservative once they get into their little late 60s and 60s. Well, you know, and that’s people that we talked I talked to recently, you know, they’re retiring, that’s something that they were planning for a long time is I don’t want to have a house note, I don’t really want to reduce my lifestyle because I’m retired. But that a yes, then you never really sure you you don’t have all these bills. Otherwise, it’s going to be a problem. You’re going to have to you’re going to sell the big house. So all the cars you’re gonna, you know, do all of that most people aren’t.

Justin Trosclair 25:22
I didn’t work 30 years to turn around and be like a college kid when I’m 70. Again, what? Yeah, that wasn’t that wasn’t the point that was the juice was be living your life? And which is why some people say, hey, it’s time to spend your money when you’re younger, you go vacation while your health is there. And yeah,

Unknown Speaker 25:36
well, you know, this is kind of a new problem. You know, think about your your parents or grandparents, they didn’t have to worry about running out of money in retirement because they all had pensions. You know, they worked forever at a company, they retired. And then they said, Okay, we’re going to pay you this amount for the rest of your life. Okay, well, and then you made it work. Yeah. You know, you knew what your budget was, and you worked with it? Well, us with our for one case, we don’t know how to budget anymore, you know, so we get pretty irresponsible that money and we run out of it. And seven years,

Justin Trosclair 26:08
it’s important, like you said, have the 401k. You know, a lot of us are self employed. So you know, whatever that is, it’s just this just umbrella term it your 401k sure, you’re going to get some money from that you’re going to have a little Medicare. Hopefully, you got some Ross going on. And now product like what you’re talking about. So you have those multiple streams of income. So when you have a bad 401k year, you’re not completely devastated. Yeah.

Unknown Speaker 26:33
Well, we talked to people all the time to you know, everybody, everybody loves the term diversification within your within your investments, but nobody thinks of diversification. As far as your tax buckets. Do you have a pile of money that’s going to be taxed when you retire? And do you have money that’s not going to be taxed? And, you know, how do you strategically kind of take that out once you get to retirement time? And do you even have any options? So it’s pretty important to put your money in more than one place? For sure. Okay,

Justin Trosclair 27:02
so let’s talk a little bit logistics here. If you’re 26, you’re getting out of 26 to 30. You’re starting your medical career. To me, that seems like a pretty good time to start buying some insurance. But if you’re knocking on 40, and you know, yeah, this this sounds like a good idea. I think I still have a good 20 years left in me to to fund this. What are some of the roadblocks that you might find like bad health? It costs $500 a month now like, what are we looking at?

Unknown Speaker 27:26
Yeah, so it’s not for everybody, you definitely have to be healthy and other are healthy enough to make it worth it. Like when you start or you have to stay healthy. When you start know you can you can get real unhealthy after you after you start if you want to train, but 30 days and get your blood work in order. Yeah, exactly. But you know, it is life insurance. And so that’s one of the caveats is you got to be healthy enough to get it. And the healthier you are, the faster your money grows. And so, like you said is, you know, what’s a good, what’s a good age for people to get started, in my opinion, is as early as humanly possible, and to get a, you know, permanent life insurance policy going right away if you can, and you don’t have to have a ton of money to get us started. We work with people who do you know, $25 a month into something for a whole life? Not for whole life? But I mean, yeah, the tax free retirement really that?

Justin Trosclair 28:22
Yeah, that was the only prices you’d pay for term?

Unknown Speaker 28:25
Well, I mean, the death benefits going to be smaller, but you can, you can do as low as $25 a month into it. And so I think I’m a little bit different than most other financial people that you’ll hear. But the reason I’m so passionate about people getting it early, is because when I was in health insurance, you know, we sold a little bit of life, and we sold a lot of term. And I cannot tell you how many people would call me they’re in their 50s or 60s. And they’d be saying, Hey, you know, our term life insurance policy, just, you know, the terms over prices skyrocketed, we want to cancel it, but we need to get new life insurance. Okay, great, I can look at it, well, hundred thousand dollars is $300 a month, right? Or something just astronomical, probably way more than that. And people just can’t afford that. Or they might just be too sick to even get it all. And if you think about it, you know, if you’re if you’re 21, or 22, that is the youngest and the healthiest that you’re going to be. And if you can put some money away into a permanent life insurance policy, and you’re going to do it at any point in your life. That’s the time to do it. Because it’s going to save you the most money possible.

Justin Trosclair 29:39
So this that age, like, you know, we’re parents now that we got to look into the future, you almost have to if you’re smart enough at that at 20. Can you imagine a paradox, so I want to buy this policy. Yeah, that’s 120 bucks a month, I cannot run them in school, I don’t really have 120 bucks a month. But this is something that I can do for the rest of my life. Maybe you can work something out with somebody to cover some of that premium until you get your, your feet wet, and you’re able to actually afford to long term Sure, like everybody talks about, I need to pay for my kids education, but we don’t really think about a gift like, like that, like, that’s kind of a cool gift to give someone. You know,

Unknown Speaker 30:15
we do that all the time we call it a Million Dollar Baby Plan is kind of what we call it. But it’s the same deal. It’s a it’s a tax free retirement plan on a kid. And we like them so much. Number one, because you’re getting them life insurance. You never know what’s going to happen down the road, you know, a lot of kids are developing some sort of condition or, you know, cancer or whatever, even when their kids now, obesity 18. And they’re 250 pounds. Yeah, that too. Yeah. And so I mean, if you can, if you can get them a permanent life insurance policy, when they’re a one or a couple months old, I got my son, he just turned one. And he was one week old. And he had to on him. Good night. So yeah, and, and like I said, it’s a great way to grow cash for college savings. Because, because number one, it all comes out tax free, right. So you can take loans from it, it doesn’t count against you on your FAFSA, so you can get student loans. And it’s not only used for education. So you know, I don’t know if my son’s going to be, you know, responsible enough, once he gets to college that I want to say, Hey, I’m going to pay for all of your school, I might want to wait until he gets married and pay for a wedding with it or put a down payment on a house or, or whatnot, but gives me a lot of flexibility and a lot of options to then help out my son. In that case, it doesn’t necessarily have to go to a college.

Justin Trosclair 31:46
Okay, so there’s the question, you got this cash value you do when they’re like less than a year now you got 18 to 20 years of growth, which is good money. That’s a lot of money built in 20 years. Yeah. And you say, you know what, kiddo, this is how I decided to pay for your college education just because of what you just said instead of it. But you when you borrow, when you take out that cash value, you have to pay it back.

Unknown Speaker 32:06
Now you have the option to you can and I would suggest doing if your goal is a retirement type plan. But you don’t necessarily have to. And one of the one of the amazing pieces to the tax free retirement is the loan provision. So what that means is whenever you take a loan from your life insurance policy, they’re going to charge you interest, right? Because it’s a loan. Now, right, you’re going to take, let’s just say 4% variable loan from your life insurance policy. And let’s say that loan is 20,000 of your $100,000, you have sitting in this account. Okay? So the cool thing is, is they view these as two separate transactions. So let’s assume the market does 8%, they’re going to credit your entire $100,000 8%, and then they’re going to charge you a 4% on the amount that $20,000 loan that you have. So even though you have $20,000 of it out in your bank account, paying for a car doing whatever you did with it, it’s still got a net return of an additional 4%. on just that piece,

Justin Trosclair 33:19
what you borrow.

Unknown Speaker 33:20
Yeah, on the 22, where the other ad group eight, that $20,000 loan that you have actually grew by four. Wow. Yeah, so a lot of people don’t realize and that gets kind of complicated. I have to draw a lot of pictures when I’m explaining this to people because it and I’m sure it’s going to be hard to understand over a podcast, but that definitely is one of the most impressive pieces about taking taking loans from these policies. So it makes sense. Let me just recap that you have 100,000 in cash 8% this year, boom, they credit your account. Now you got 108,000 for the year 2020. Yes. And then you’re like, well, yep, but I’ve alone, I got a $20,000 loan. So at 4% I’ve been paying that back every month. So I lost 4% on 20,000. Because at the reimbursements, you know, the pay back that loan, no actually gained 4% Oh,

Justin Trosclair 34:10
you only gain 4%.

Unknown Speaker 34:12
Right? Because if you figure they’re charging you 4%, but the market grew eight. So the difference between that 4% in the eight is an additional four. So you actually grew that $20,000 by 4%. And yeah, that’s with

Justin Trosclair 34:26
that 4% I got you, your entire account still grew 8% but 20,000 of it or whatever you borrow is that 20,000 only grew because of four because you had to pay back for in. Okay. But in messenger your account still looks like it’s supposed to is growing.

Unknown Speaker 34:41
Yeah, still looks good. See how I can see that pretty quick?

Unknown Speaker 34:45
Yeah, so I draw a lot of pictures.

Justin Trosclair 34:48
Looking at this. Okay, so you have your kid you bought a policy for them? You’re the custodian of it. So technically, like if they die great. Not mean or not great. But you know, you’re getting the cash value, right? But at the same time, you could, can you still use it like kind of like your own? And they never actually give it to them ever? Yeah,

Unknown Speaker 35:04
absolutely. I’m the I’m the owner of the policy.

Justin Trosclair 35:07
So so they have no idea. I have no rights to your policy, because you bought it. Exactly.

Unknown Speaker 35:11
Yeah. Now they’re the insured. And how it goes with life insurance is you can get life insurance on anybody that you have, have an interest in. So an insurable interest in so I can do it for my son, my wife, my mother in law, you know, somebody that you have an interest in keeping alive? Basically, they don’t actually get your money.

Justin Trosclair 35:33
If they were to pass away. Exactly. Now, they paid it for themselves. Yeah, it’s my account.

Unknown Speaker 35:37
Yeah. Now, if they were the owner, they could do whatever they wanted. And it’s always transferable. So let’s say my son is, is very, very responsible. graduates from college, I could just give it to him. You know, I could transfer ownership to him. He’s now the owner, and he would have all of that. Yeah. All the life insurance, all the cash value, everything would be that’s quite the gift.

Justin Trosclair 35:57
Yeah,

Unknown Speaker 35:58
absolutely. Quite the gift. Yeah, we have a lot of grandparents that do it for their grandkids, parents who do it for their kids. So it’s a it’s a pretty popular way to save for college for sure.

Justin Trosclair 36:08
Alright, so this is a funny question. It’s kind of going into Justin’s land now. So I’m 36. Okay, I’m 36. You go get your blood work done. You like mm hmm, not quite what I was hoping for. And you, you find out your rates, like, Oh, well, we gotta dig for it, you’re not out of the park yet. You can’t, we can still assure you, but you’re going to pay 20% more, because you got this high piece here. So you’re gonna I’m sorry, they say that, but you’re gonna, you’re gonna have to pay more, but you still get it? And so you get that $500,000 policy. I don’t know what that would cost you a gang and they start looking at your kid, my kids, they healthy, they can get that same hundred thousand dollar policy for pennies. And it’s my policy. Yeah. And the only the only difference would be the cash value is what you have. And if you died, the you didn’t help out your family. You got this cash value for exactly what you didn’t actually help your family because you died in a car accident.

Unknown Speaker 36:57
Hey, people, people do that, actually. So there’s another term on top of beer and banker and infinite banking. They’re now calling it family banking. Oh my gosh. And that is exactly what you do is you know, you have a you have a child, and they’re obviously very young and super healthy. Well, you can super fund a life insurance policy forum, put a ton of cash value into it and grow money that way. Now, the rules of life insurance, your child can only have to what the parents have. So if I only have a million dollars of insurance, well, that’s the most my son’s going to be able to get so but you can you can max fund it that way.

Justin Trosclair 37:38
Oh, so if you don’t even have life insurance, you can just go and buy one for your kid.

Unknown Speaker 37:41
Right? Exactly. Yeah, at least one parent and usually the breadwinner has to have life insurance in order to get it on your child’s as well. Um, okay.

Unknown Speaker 37:51
Yeah, now you’re thinking, that’s interesting.

Justin Trosclair 37:54
That’s a little wrench in the plan right there.

That’s super fun, too, baby. Now, what does the word super funding mean?

Unknown Speaker 38:01
So with with life insurance, there are man, there’s just a million ways that you can set these up to whether you want it to be funded to where the maximum amount of cash that you can grow inside of a life insurance policy, due to, you know, federal law and things like that, you can set it up, that way you can set it up to where I don’t care about the cash value, I just really want permanent life insurance. That’s all I want. So then that would be a different premium amount. And then there’s somewhere in the middle called target. And so there’s, there’s 100 different ways you can set it up. But the safest way to set up a life insurance policy to where you don’t want it to lapse is by putting as much cash value into it as as you can. And so that’s what we call max funding a life insurance policy. So does that mean like your premiums 100, and you put 200 in it, or just the way the premiums are set up? In general, it’s, it’s a confusing little math equation that the government has for us because what what happens is if you go over that limit, it then becomes what we call a Mac, modified and download contract. And so once it does that, it loses all of its tax free ability. And so we don’t like that. And then like the 80%, I’ve seen the graph sweet one graph said a, you know, two inches high, and the next was like, 1.75 of that deadline. So as long as it doesn’t cross over that

Justin Trosclair 39:23
barrier, based on like, 80%, or 90% of the value of the fund or something like that, then it’s, you know, keep it below that. Yeah,

Unknown Speaker 39:29
it happens. Yeah, there’s a whole math equation with it. Yeah. But what’s what’s nice is that the companies that we work with, they kind of take it out of our clients hands, and they say, Okay, if if your client sends in, I don’t know, a check for 20, or $30,000, but they’ll only take 20,000, you know, they’ll send back the other 10 and say, Hey, we don’t want this to become a mech. Now, if you do, you can send it back to us. But we’re just kind of protected. You know, most people don’t want to do that. So they take care of us.

Justin Trosclair 40:00
That’s really interesting. So it’s based on what your values are not your values, but what your goal is you want cash value when you’re older, or do you just want coverage when you die? And that’ll definitely want to have like a much lower premium than the other is what I’m, Yeah, there is.

Unknown Speaker 40:12
Yeah. So just as kind of a well, and it depends on the company and all that. But easy rule of thumb is if you’re max funding a life insurance policy, usually, or at least an indexed universal life policy, about one third of it would go towards the insurance piece. And then about two thirds of that would go into the cash value. I’d be remiss without asking you do this plan that you’re talking about. The ones are the two third, man, all of a sudden you get into a financial crisis. You like

Justin Trosclair 40:42
crap, man, I don’t have I don’t really have $500 to pay for this anymore. Like, I don’t know what to do. Because I’ve been paying on it for 20 years, I still got another 12 polite right now I’m about to go bankrupt, I don’t have $500 What is life is responsible for you out of luck, can you use the cash value to pay for it? Can you just pay the that one third and just kind of sacrifice that, that cash value for a while. And

Unknown Speaker 41:03
yeah, and that’s another reason why I like the Universal Life policies over the whole life. So its whole life, if you miss a payment, you know, they they’ll just cancel the whole life policy. And so now you’re at the end, I gotta look. But with the Universal Life policies, they’re very, very flexible. And so as long as you have enough cash value in there to pay, like you said that one third, you can take your your contributions to it down to nothing, if you want. And they’ll just take that one third out of the cash value that you already have. Or you can reduce it to kind of whatever you want whatever’s comfortable. I’ve had several clients use that, you know, I that’s why I like this for business owners, is because as a business owner, you know, sometimes you have great years, sometimes you have some pretty lean years. And so in the great years, hey, we want to put as much money into it as we can. And then in the lean years, if we can’t afford to put anything into it, you don’t have to, I’ve got a client who for about two or three years they funded at 100%. Well, over the last year, it hasn’t been a good year, they haven’t put another cent into it. And it’s still rolling. So

Justin Trosclair 42:08
but you do risk 10 years down the road, you don’t really have any more cash in there. And now you come knocking Hey, man, you always 100 bucks this month, or your policy is going to lapse. Yeah, it took 10 years, right?

Unknown Speaker 42:19
Well, if it takes, if it takes 10 years, yeah, you might have other problems. And then, you know, funding that, but But yeah, so so you’re right, that is a risk. If you know, if you have 10, straight bad years, then yeah, you could lapse your policy, but if you funded it well enough, and again, that’s why I suggest max funding the policy is because if you do that, that puts a significant amount into that policy every single month. So it really reduces that chance of that ever happening. It’s handled, you can’t do this.

Justin Trosclair 42:48
I’m gonna ask anyway. A real snowball range and money we’re talking, I don’t know what’s even occurred. So setup is like to 50 501 million, is that sort of how it usually goes?

Unknown Speaker 42:59
Well, actually kind of depends on how much again, depends on somebody’s goals. So if it’s, if it’s cash value accumulation, then they might say, hey, my budgets $200 a month. Okay, well, then we would kind of go and see, all right, well, for that, you might get $150,000 of life insurance with it, you know, so we kind of we figure out the amount of insurance on the back end, because we want to maximize the cash growth.

Justin Trosclair 43:25
So realistically, then we’re because and because it’s growing, I’m thinking, Man, 150,000, when you die, that’s not really a life changing amount of money, as I’ll support your family for a few years. But the whole point also is, it’s growing at 8% a year. So when you retire, that 150, you might have a cash value of

Unknown Speaker 43:44
Yeah, you’ll probably 400 Yes, you’re in your 20s and you start doing it, you’re going to have way more than that, that are initial best benefit was for sure.

Justin Trosclair 43:51
Okay, so what happens there, you got half a million in cash value, your life insurance policy was only 150, the end of buying more insurance to match that are like when you pass, you lose that 500, or you just get the 150. So that’s,

Unknown Speaker 44:08
again, whole life insurance, what they’ll do is they call it paid up additions. And so as your as you get dividends, you can choose to buy more of the life insurance, and then that way the life insurance amount increases with the universal life, you can do a an increasing death benefit, so that every year some of your cash value does go to give you more and more life insurance. But again, then becomes more and more expensive, because you’re paying for more and more of the life insurance. Or you can do a level death benefit where the cost of the life insurance will stay the same. And you know, you get to if you have $500,000 in cash value, well, then that would be the that would be the death benefit. Okay, so if you were to pass away, then you’d get the 500,000. Okay, good, good. Good. So yeah, you wouldn’t only get the the life insurance them out,

Justin Trosclair 44:54
okay. I’m always sketchy about some of these companies, and they are gonna lose, they’re not gonna lose. Sometimes they’re like, Well, good luck. You know? Yeah. Glad you died. Because I didn’t want to pay you back that all that cash value, that’s just us for for me for me.

Unknown Speaker 45:10
Okay, yeah. Good, be looking out any other risks that we might have missed? Um, you know, as long as, as long as you have somebody that an agent who sticks with you, and does a, an annual review with you, at least, either if it’s every six months or every year, you really need that. The the life insurance industry kind of has a bad name for people who sell life insurance policy, and then you never ever hear from them again. Hmm. And you know, that’s just, it’s, it’s so common out there. So you really want to find somebody who’s going to stick with you for the long term through this? Because, you know, like you said, what, if something happens, like, the market goes down 10 straight years? Well, what happens in that case, you might want to ask a professional about it. Or what happens if I take out a big loan and I start getting letters, and what happens if this and that, you’re going to want to ask somebody those questions, because the average person is not going to know how to read an entire life insurance policy and figure that out. Yeah, so if you’re going to do something like this, you definitely want to trust number one, the company that you’re doing business with, you want to make sure they’re well rated company. And then probably the most important piece is that the the agent that you work with, you got to make sure that they’re going to be in it with you for the long haul, and not just Hey, by this, and then you never hear from them again.

Justin Trosclair 46:34
And also you got to look at I think, what’s the Roth max these years

Unknown Speaker 46:38
right now 5500, and then 6500, if you’re over 50,

Justin Trosclair 46:43
so for a family of two, or two people, that’s 11,000. So like, if you had only $11,000, to invest, or let’s say 12,000, or something, that percentage of that should go some kind of life insurance. And then the rest of that would go to your 401k, you’re off or whatever like is up piece of your financial budget. It’s not like I do all of this. And if I have any leftover, then I’ll buy the life insurance, that should be part of your package of your total. Absolutely.

Unknown Speaker 47:09
Well, and that’s why, and again, the reason we use the company that we use is, you know, everybody usually thinks of life insurance as well, if I die, right, somebody, my beneficiaries get a big lump sum money. Well, we work with companies that use living benefits. And most people have never heard of that. A lot of times when I say living benefits, they think of permanent life insurance policies that they could use use their cash value for, but what the living benefits are, they’re part of term or permanent, and it’s built into the death benefit. So if you ever get sick, you can actually use your life insurance to help pay bills. So if you ever have a terminal illness, or a critical illness, like heart attack, stroke, cancer, or a chronic illness, which is very similar to a long term care type, situation, like you can’t meet to the six x activities of daily living, you know, feeding yourself bathing yourself, things like that, then you can use your life insurance, and they will pay you directly for that. And I wanted to bring that up, because we have several several doctors and you know, groups of physicians who really love these living benefits, because they see it every single day. They see how much the medical costs are for, you know, long term care type situation, or even heart attacks and strokes. And you know, if your life insurance just already covered that, you know, that takes a whole nother product that you’re probably already spending money on right off the table.

Justin Trosclair 48:38
So instead of having to come up with 30 grand a year for your ongoing nursing care, because you can’t feed yourself and take baths, your policy would kick in and pay for that for however long it takes, you know, exactly. That’s great. I remember seeing that a long time ago as the last guy. I think he wasn’t really, I don’t know, we were talking about so many things, it was hard to get that answer. So I’m glad you actually brought that up and made it super clear. How about that?

Unknown Speaker 49:01
Well, you know, our company, we focus more on more on the money piece than just life insurance. But you know, the number one cause of bankruptcies nowadays, the number one cause of foreclosures and small business failures is all somebody getting sick. It’s not that somebody passed away. It’s just that they got sick. You know, they might not be able to work for six months, 24 months? And where do where does anybody have a large chunk of money to you know, pay their bills, if they can’t work for a year? Well, the number one number one answer is their 401k. You know,

Justin Trosclair 49:33
yeah, that’s when people get to all those penalties.

Unknown Speaker 49:36
Yeah, exactly. It doesn’t take long to go through $100,000. If you’re not working, you have to take it out of your retirement accounts. And you lose 30% up front. Yeah,

Justin Trosclair 49:44
yeah, exactly. This is the guy that we’re going to be interviewed. He’ll be I think after you are one or two after you. He had two twins, and they have a muscular dystrophy issue. That’s going to cost 70 grand and like physical therapy every year. Oh, next foreseeable future. Is that yeah, that wasn’t part of the plan. It really say that, but he’s just like, yeah, it’s I had money. But now like, my goodness, like how much was to afford that every year? So that they can walk one day?

Unknown Speaker 50:09
Yeah. The, you know, when when we talk about life insurance on kids, it’s kind of a weird, weird subject, because nobody ever wants to think about anything ever happened to their kids. You know, my brother died?

Justin Trosclair 50:20
No, really. It was something that, yeah, my brother died when we were in high school. So it was one of those. My parents were glad they had a little policy because it was able to cover the funeral costs. And then it covers some things that you know, me my other brother we were looking to do as a in high school, in college. And so they’re like, yeah, we have this extra sad cash, if you want to call it but it sure it was able to fund some of the things that we needed to fund during those years.

Unknown Speaker 50:44
I didn’t know this. Yeah. Well, we Vionnet been in this industry for for a while now, you know, I’ve heard I’ve heard plenty of stories, unfortunately, of, you know, kids being only one, two or three years old, and developing something like, you know, as or Muscular Dystrophy or something like that. And, you know, the the living benefits would cover that, you know, if you needed all of that help and medical assistance and things like that, that’s something that would be taken care of, for you. And like I said, it’s a it’s a weird subject to talk about, just because nobody ever wants to think about it. But you know, it’s a nice thing to plan for just in case.

Justin Trosclair 51:21
And I said, it’s pretty cheap. Oh, yeah. You know, to get a $25,000 policy on your kid, and we’re not talking you gotta get a million policy for your kid or anything. But just to cover like a funeral. 1010 to 12 grand right there. Yep. And that’s a lot of money just to come up with and plus, you’re devastated at that point. Yeah.

Unknown Speaker 51:36
Well, um, yeah. And that’s a conversation I have with a lot of dads. You know, as they say, I’m the breadwinner. If something happens, I, you know, they don’t need any life insurance, you know, on their wife or kids or anything. And I’m like, ah, I can only imagine if something happened to my wife or my, my kid, you know, I have a feeling I wouldn’t be emotionally ready to just jump right back into work. That’s pretty devastating thing. So,

Justin Trosclair 51:59
yeah, yeah. So my wife by that, too, is like she can she can pass it like that. You need a policy to be like you like to go hiking and climb 20,000 foot mountains. I was like, you never know. Yeah. You just never know. And I was like, that’d be nice that, you know, not just be worried about Justin having, how much will take care of his kids or? Yeah, myself and work? Yeah, that’s a lot of money on childcare that you wouldn’t have had to spend,

Unknown Speaker 52:20
potentially, you know, if your wife did? Well, And wouldn’t it be nice to not have to concentrate on that at all? Like if money was a was an afterthought, and you could just concentrate on taking care of what you needed to be nice?

Justin Trosclair 52:31
Absolutely. I’d like to end the interview with a little more lighthearted. And what about Trevor? You’re married? Yes. You also have your own business? How are you able to take more vacations? And also keep that love alive in your relationship?

Unknown Speaker 52:44
Sure. Well,

Justin Trosclair 52:46
I mean, he just went drive Ferraris. That was a family vacation. I was on Facebook. This guy was he was first place. Yeah, he was like, he’s going fast.

Unknown Speaker 52:54
Yeah, no, that was a pretty incredible experience. But that’s kind of the nice thing about our industry. And, you know, we do get to go on a lot of vacations, we have a pretty generous CEO for our company who pays for us to go on a lot of trips, and our company is very family oriented. And so you know, when when I succeed in our company, my wife is always named on any awards or anything else that we get, and any trips that we go on she comes. So that’s really nice. We get to travel a lot. And so, you know, honestly, we haven’t traveled a whole heck of a lot other than with my with work. You know, we drive down to we drive down to Texas, or we don’t drive, we fly down to Texas and visit some friends down there. And just kind of enjoy friends and things like that. But, you know, I think the thing that keeps me and my wife kind of together is just our sense of humor. She’s kind of a goofball. And, and I am too and so, you know, we, I don’t know we’re just always laughing with each other and, and having a good time. So we try not to take our to ourselves too seriously. And just enjoy life when we can.

Justin Trosclair 54:03
any hobbies. I think you’re a golfer.

Unknown Speaker 54:05
I love golf. Yeah, if I could do that every day, I’d be even happier. You know,

Justin Trosclair 54:11
I’ve source shirts like you’re wearing right now. It’s got like holes in it and everything. Some of these places. These are like custom fabrics. Like you can get it with just those big holes. But it’s the whole shirt and then it doesn’t let go Yeah. I’ve been I’ve been sourcing things in on the in these China websites and like, boom, I can I get some samples. Like, sometimes you know, as a chiropractor, different things. You want to give away some swag like a podcast swag shirt or something like that. And I don’t want just give some dumb beefy t as a treasure I want someone’s going to be like, how where despite your logo? Because it’s such an amazing?

Unknown Speaker 54:47
Absolutely. Yeah, you know, what’s funny is one of the shirts that I wear. Well, I wear it a lot to the gym is actually a five rings financial shirt, and it’s a tie dye shirt. But it is so comfortable. And it says five rings. Awesome. Just all across the front. I mean, all you see is big. Oh, gosh, I’m like this shirt is great. So I wear it all the time. Like go to the gym. So I hear you.

Justin Trosclair 55:13
Last fun question we’d like to wrap it up here is any books or podcasts that you definitely would recommend for other people? Oh, man, I just want the topic we’re talking about or just in

Unknown Speaker 55:22
here. Man, I read a lot of books, which I never thought I would ever say, you know, before. Before I joined our company, and I graduated college. I think I told myself I’d never read another book. But that was pretty, pretty ignorant statement.

Justin Trosclair 55:37
You just didn’t find what you liked. Yeah, you know,

Unknown Speaker 55:38
and that’s probably right. Well, as far as business goes, there’s a there’s a book pretty much all about these indexed accounts and things like that by Tony Robbins. It’s called money master the game. Oh, that’s what he talks about. Yeah. And he, he interviews the top, I think it’s 50 or 100 money managers in in the country, and kind of asked them what can Middle America do? And a talk about these index accounts. So, so it’s pretty cool, but it’s a long read. And so I don’t know if you want to read that or not. But it’s a good book as hard but other than business wise, my favorite one I really liked those john Gordon books, if you ever read anything by him know, what’s the name one. The energy bus is probably my favorite. And they’re just these short little parables really easy to read. But they really relate to you know, personal life, business, things like that. Just making sure the energy bus is all about making sure you have the right people on the bus, the right people on your team, right people in your life to You know, help you move forward and be positive and things like that don’t have energy vampires and people who bring you down in your life all the time. So I really liked the bus like a yellow

Justin Trosclair 56:49
bus. Yeah. Okay. I thought her bus like, Oh, you went bankrupt. Like, okay, energy bus. That’s interesting. I thought it was sci fi for a second. That would be a very different book, random this Game of Thrones. The finale was like the other day and I don’t watch Game of Thrones. I don’t know if you watch it or not. I sure do. What they books. everybody’s like, I can’t believe I thought they were a book. Well,

Unknown Speaker 57:12
so they went off the book for like, one or two seasons. And then after that, they started doing their own thing. So okay, yeah,

Justin Trosclair 57:21
that’s why everybody shocked by the way it ended. I was like, guys pick up a book. I kind of told you how Lord of the Rings in Yeah, but I didn’t want to read them. I wanted to watch it and see how it is. And one of the suspense. Yep.

Unknown Speaker 57:31
Yep, that’s why Okay, yeah. Because, well, since you don’t watch it, but one of the biggest characters is Jon Snow. And I guess he died like three or four books ago. But he’s still made it to the final deal. So

Justin Trosclair 57:42
I watched a YouTube video and did like a 30 or 40 minute recap of the entire seven season. Oh, did you? So yeah, that’s how I watch Game. I was like, Oh, that’s what this is all about. I’m like, wow, this is really complicated. Oh, man. And there’s only one season left. I’ll just watch a 30 minute recap later and just be on the one.

Unknown Speaker 57:58
You know what? I didn’t start watching until I think season three. I had a buddy who was like, you haven’t seen it? And I said no. He’s like, well, you need to come over and at least just watch one episode. So I said okay, so I watched the first episode and I was hooked. And it is it is such a good series. Just because i don’t know i i feel like I’m pretty good at guessing when somebody’s you know, going to get killed off or what’s going to happen in a movie and just everything’s so predictable nowadays. And with Game of Thrones, man, they keep you on your toes. You the the number one guy the main character he get killed any second, so I have no idea. Wow.

Justin Trosclair 58:37
Yeah. It’s one of the recast. They’re like, Oh, he got his head.

Unknown Speaker 58:45
That was the dispensable part if he cared about this.

Unknown Speaker 58:47
Yeah, yeah.

Justin Trosclair 58:48
It’s a random way to end this episode. So I don’t care about it. That was like really pop. Yeah. At least he knows what time of the year was watched. Yeah, exactly. Everybody knows. I pre recorded episodes. So you put the two together when you actually show up in the Live podcast here. Okay, last pieces. How do we get in touch with you?

Unknown Speaker 59:09
Yeah, on Instagram. I’m a safe money coach at money code, save money coach up and on Facebook, same safe money coach, you can email me at Trevor at five rings, financial com, is that the number or the word spelled out? Five, five rings, the financial phone numbers up to you, buddy. Sure. Yeah, that’s fine. 334285434. And good news is all this will be in the show notes page, we will have a dedicated note just for you. And as of the last probably two or three months now transcripts. So the whole thing will be transcribed. So you hear all about what he had to say. And you can read it if you just don’t like his voice.

Justin Trosclair 59:55
Just kidding. But it is transcribed. So man, I really appreciate the amount of time gave and made it all I think clear, pretty clear enough to where it’s like okay, I was confused. Now I know. And now I need to call somebody whether it’s you, you know, sure, yeah, at least open it up for everybody to take care of that life insurance policy to do in a way that can actually benefit you now and in retirement. So I really appreciate your time

Unknown Speaker 1:00:16
today. Thanks for having me on. This was a lot of fun. Like I said, I’ve never done a podcast before. And yeah, this is a great time.

Justin Trosclair 1:00:26
Another great interview has ended. As I always say, I hope you listened critically think and implement something so that your practice life, family life can improve. This week, one hit you up with a few links today, if you’d like to know the top episodes of 2018 and 2017, were you just go to net slash top 1718. And you can get a PDF of all those episodes. It’s like 22 of them. If you’re interested on any of the programs that I’ve actually been interviewed on, just go to net slash as heard on to play on as, as seen on you know, so as heard on. If you didn’t know, the needless acupuncture book sales page has been revamped. So it looks a lot better. You know, sometimes when you look at a web page, it doesn’t look like it’s put together will be like, Man, I’m not sure about this thing. But it’s been redone looks better. And also, if you have an Android device and you’re curious about it, you can actually download the same five protocols, blueprints, if you will, right there on your phone at the needless acupuncture app. And for less than $4 you can get the whole book on your phone from the Android Google Play Store. So here’s the check that out, the electric acupuncture pin is still available at a great rate, you can get it on its own or as a package, seeing it the book, The E pin, as well as the regular points. Now, some of the things that I’m recommending blueberry hosting, that’s who I use, I really like them a lot. I’m not gonna lie to you. Fiverr is where I get a lot of my music done my logos, I don’t know if you noticed on Facebook, I believe my picture is now a face with a bunch of words and just saw that real quick. It was cheap. Wanna try that for a little while it’s fun. Turtle pillow is a travel pillow, it actually is like an HP minute. So you can rest your neck, your chin on that. So you don’t get like the chicken Bob, where you you know you sleep in a boy you wake up really fast. And you know, those those U shaped ones, I just don’t think they work very well. So for me, it’s worked really well. I’ve traveled about 10 different countries with it across the pond, as they say really highly recommend that if you’re into instrument assisted soft tissue manipulation, two options, you got hot grip. So that’s that’s hot grips, and also net slash edge, you can get tools there as well. But they also have way more than just tools they’ve got how to get to use Google Apps as your EMR blood flow restriction cuffs, there’s a lot of research on that device. And you can check that episode from the past, you can get an automatic 10% discount on all the products from the edge mobility equipment. One of the devices I use to to send out snippets of the podcast via picture and quotes from the text that I write on the show notes is missing letter, they just took all the last E and letter.com. Pretty much you know you can do a blast and two months and like five weeks or two months, I like to do not emails over 12 months. So that person who was interviewed last month doesn’t just get lost, right? You know, so every day I have a new episode at a highlight and it’s all automated, really cool. Definitely check it out. If you need to record your screen like screen cast o Matic, also j lab audio speakers have said it before. I love them. It’s a great company. And now I get to actually be an affiliate for them. So if you end up buying into their products, it’s like anything I get a little piece probably have like three or four different products. I mean, they just the battery lasts longer sounds quality is amazing. And for the price that came live in a bun. And of course the show notes anytime you see a book link, buy it, it comes to me and net slash t shirts will help us out. And lastly, again, something I don’t talk about too much. But if you need coaching, whether it’s via the today’s choices, tomorrow’s health needs some help with taking those small steps and accountability so that you can actually lose the weight or start exercising more or get your budget in order just let me know I can help with that. Also, if you just need some minor marketing coaching or things like that, I can help you out with that as well go to net slash club. And of course on there you can also buy the clothes, the cup of coffee are even more than that. There’s different options available. So thanks for tuning in, and we’ll see you next week or on the mini sewed

we just went hashtag behind the curtain. I hope you will listen and integrate what some of these guests have said by all means please share it across your social media. write a review. And if you go to the show notes page, you can find all the references for today’s guests. You’ve been listening to Dr. Justin trust Claire giving you a doctor’s perspective.

Transcribed by https://otter.ai