Episode Transcript
[00:00:11] Speaker A: 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.
[00:00:36] Speaker B: Well, you might have heard, what was that, that song, that rap song, da da's back again. Now we're saying Slim Jade, slim Jade again. So Andrew's back again. Andrew Murdoch. Now, when I say back again, I'm also going to preface this with the snakes and dragons are literally laying on the ground bleeding profusely. He is just about to complete slaying them.
And so, Andrew Ytrra, YouTube digital marketing that business being born as a result of the incredible advantage that the infinite banking concept provides in enabling you to control how you finance the things that you need throughout your lifetime time. A warm welcome back to what we're going to say for the very first time to wealth on Main street.
[00:01:38] Speaker C: Hey, are you kidding? This is the inaugural episode.
[00:01:42] Speaker B: This is the inaugural interview on wealth on Main street.
[00:01:48] Speaker A: That's awesome. That means you've now shown up on the first podcast, which is still the same podcast, but it's the same podcast under a new name.
[00:01:56] Speaker C: Yeah. Fantastic. I'm honored. I'm honored to be here.
[00:02:01] Speaker A: Well, I like how you said that he's back, but you didn't say he's back in a New York groove because he's actually in Costa Rica. So he's back in a Costa Rica groove, which is probably a better groove.
[00:02:10] Speaker C: I'm not even in Costa Rica. I'm in Panama right now.
[00:02:12] Speaker A: It's a Pan Aramian groove. Is that the right way to say.
[00:02:15] Speaker B: Yeah, as Van Halen would say.
So, Andrew, welcome back. Bring us up to speed on, you know, how things have been progressing in your utilization of the infinite banking concept since we last spoke. And feel free to add and layer in any additional context that you think would be really beneficial for our viewers and listeners.
[00:02:36] Speaker C: Yeah. So at the time of this recording, it is, what is it? July 2024. And I started practicing the infinite banking concept in 2016. And you, Jason, you're my financial advisor. And I originally came across the infinite banking concept because I was actually working for the canadian coast Guard at the time. And I was injured. I got injured on the job and I was at home binge watching videos and I couldn't even tell you how I came across it. But YouTube wasn't exactly what it was, what it was in those days, like, it is today and I found myself on this gentleman's website and I was just binge watching his videos. And then after binge watching 24 some videos, reached out to his team and I said, I'm convinced. I've seen every single video on your website. I want to do this, but I'm canadian. Do you help Canadians? Because I knew I was talking to an american.
[00:03:38] Speaker A: Yeah.
[00:03:38] Speaker C: And they were. Him and his whole team were very kind, very professional. They said, no, actually, we can't work with Canadians, but I can introduce you to someone. And that's how Jason and I got connected back in 2016. And it was.
I had no idea the impact that that decision making process was going to have later on in life, because in 20. What was it now? Yeah. So my business is two and a half years old now. And when I launched my business, I'd already been practicing the infinite banking concept for quite a while. But the infinite banking concept, by its very nature, is a very delayed gratification financial strategy. It's not like you can just click a button and then just have this wild success. It doesn't work like that. And most human beings are not wired for delayed gratification. And I think that's why a lot of people get so frustrated, because everyone wants success and everyone wants success now, but that's just not how the infinite banking concept functions. But thankfully, thankfully, Jason, you pushed me in the right direction.
And then, so, years after I started the process, I had built up enough cash value in my system so that it's a little expensive. Depending on the industry you're in, it can be a little expensive in startup costs.
[00:04:56] Speaker B: Oh, yeah.
[00:04:58] Speaker C: The trademark, the website, everything, right? And you haven't made a dime yet. And no, I didn't have to go to a third party financial institution to take out a loan. I went to my system of policies and I took out a loan against the cash value in my system and I got to use the insurance company's money to launch my business. And I mean, the old adage that we've all heard a bajillion times that the ultra wealthy use all the time, OPM. OPM. Other people's money. The first time in my life, I really, really put that into action. And now here I am in 2024, and I'm on the verge of. I'm on the. I'm so close I can taste it. I'm on the verge of saying sayonara. Saying adios to the snakes and dragons. I just checked before we started, we hit the record button. I owe $8,000 on a line of credit. That's it. $8,000. I'm a sneeze away because five and a half years ago, I was in financial ruin. And if you want me to go down that road, I can. But like, the infinite banking concept has been the single greatest financial decision I've ever made in my life. And I think it's insane that more people don't know about it.
[00:06:10] Speaker B: Love that. Well, that's why we're on the youtubes.
[00:06:13] Speaker A: This September 12 is don't spread the wealth day. Get a copy of our new book, don't spread the wealth, how to leverage the family banking system to own all the gold, make all the rules, and enjoy generational riches. This book is jam packed full of incredible bonuses that we've put together, including our 15 page guide to hosting your own family banking meetings. Pre order your copy today using the link down in the description, or visit don'tspread wealth.com. that's don'tspreadwealth. Dot dot. Learn how to keep the money in the family so you can prosper together for generations to come. And although you did mention the power of OPM, we can't underestimate also the power of OPP. Cause that guy is down with me. So I just want to make sure that we understand all the acronyms are being thrown out.
[00:07:06] Speaker B: It's going to be one of these episodes.
[00:07:08] Speaker A: Well, you started it that way, Jay. But, you know, I really appreciate that, Andrew, in so many ways, because you're right. There's a lot of people who, you know, there's the naysayers, the people that they just can't grasp what the concept is. And they're so focused on what it's some kind of an investment strategy, which it just simply is not. And really what youre expressing whats transpired over the last five years of your life in finding this concept, meeting Jason, beginning the process, getting started, capitalizing, working with capital, not yours, the insurance companies, but being a co owner in that company, being able to have the control and the autonomy to start recapturing, recovering the third party debts, the snakes and dragons, as we call them, and bring control of that back into your world. Under your dynamic, there's something that happens in that process that is, sure there's a dollars and cents component to it, but there's a feeling that's created that doesn't ever show up on a spreadsheet. There's a personal autonomy and liberation and a peace of mind that gets created that I think is really where the lifestyle of infinite banking live. That's where that energy lives. So, you know, we've had a ton of conversations. You and I always love our chat. Some of them go far beyond a scheduled five minute likewise moment. They all do may turn into a three hour conversation. I'm just saying, it does happen. Anyone that's had a conversation with Richard knows that it can derail quickly.
[00:08:39] Speaker C: That's not an exaggeration. Three hour conversations?
[00:08:41] Speaker A: Yeah, a lot. A lot of pacing. That's how I get my steps in, in my backyard, just running in circles. Um, but so. So walk us through a little bit about that component of the feeling and the progression, you know, of. Of that, because you've not only in that timeframe, you also, you know, when we first connected with you, you were in Scotland, where there was a, you know, global pandemic situation. Then you've been back in Canada for a while, and then Costa Rica and back to the states and Panama now. So, like, you're making life happen around you. While all this is taking place, what are some of the feelings that come up as you think back on that journey over the last five years that's transpired for you?
[00:09:19] Speaker C: So much I can say. So much I can say. So this is how I look at things now.
I realize now, hindsight being 2020, I realize now that I was in an abusive relationship.
And the other person in this relationship was the bank. It was my banker. Because the banker gets all the upside, but I took all the risk.
And so when it comes to the feeling and the peace of mind of controlling the financing needs of my current life and my future, uh, circumstances, there is nothing that exists on a balance sheet that can adequately describe or represent the peace of mind. Because every single one of you watching this interview right now, whether you admit it or not, or, sorry, not admit it, whether you recognize it or not, you are in an abusive relationship with your banker. But you don't know you are, because every time you got to walk into the bank, they got a big smile on their face. Maybe they invite you in. Can I get you something to drink, sir? Ma'am, can I get you a tea? And they sit you down, and then they wave their hands, they bring in the smoke and mirrors, talking about interest rates, and none of it matters. And it's not until I really got wise with all of that and really started binge watching your YouTube videos and reading the books. Nelson's book, becoming your own banker, the great, amazing R. Nelson Nash. It wasn't until I really got going and actually started living it.
That's a. There's, there's the Bible, as far as I'm concerned. It's not. It wasn't, it wasn't until I actually started living it. When my eyes were opened and I thought, and there's the great R. Nelson. Matt. I got nothing over here, guys. I can't contribute, but I. It wasn't until I started living it and reaping the benefits where you feel like a moron, like, I felt like I'm speaking about myself. It's like, oh, you have this really crazy moment, and then you start looking around, realizing, why aren't any of you doing this? This is like the stupid, simple. And the other thing that I can add to this answer, because now I'm getting all animated, because I'm so passionate about this fricking stuff, is the. So you guys know I'm a YouTube geek through and through. Love that platform. Changed my life. That platform. I go. I'm not exaggerating when I say I probably spend about 2 hours a day on YouTube, both for entertainment and educational reasons. Okay. Uh, in Colby a index, I'm a fact finder. So when I obsess over a subject, I will consume anything and everything that I can sink my teeth into. And so, not too long ago, I click on this youtubers video about creation, about creating wealth, because I definitely consider myself a bit of a money geek. Okay. And this guy has a very successful channel, lots and lots of views. This particular video I was watching probably had, like, 250,000 views. Okay.
And, man, oh, man, the stuff that came out of this guy's mouth, so he. I can't believe I'm even going to say this. You guys are going to enjoy this. He has this whole video and does a fantastic job. He's a great content creator, and he's able to tell a story, and he's able to do the open loops and follow all the best practices. He's a legit, fantastic content creator. But the entire video was teaching the viewer about how they can achieve their financial goals. Bye. Canceling their subscriptions.
Wow. Oh, I can't believe I didn't actually take a minute to grab the link and share it with you guys.
[00:13:31] Speaker B: So maybe we should record videos on that so we get more views.
[00:13:38] Speaker C: Can you imagine convincing hundreds of thousands of people to watch your video and saying, you can be rich by canceling Netflix?
I think it's the craziest thing I've ever come across in my entire life.
[00:13:53] Speaker A: One of the federal cabinet ministers suggested that you do that in order to solve the problem of inflation in Canada. So, I mean, it must be good advice. I mean, based on that criteria.
[00:14:03] Speaker C: I mean, all I got to say to you watching this video now, if you're only prepared to make small changes, then you better be prepared for small results. But I. Anyone in the west, this is a fact. Anyone in the western world, when you look at the data, the number two largest expenses anyone in the western world will experience is taxes and interest.
So legally, reduce your obligations to taxes and interest and be prepared to reap massive rewards above and beyond canceling your damn Netflix. I think it's stupid.
[00:14:39] Speaker B: Taxes and interest, both of which are about as welcome as a fart in an elevator.
[00:14:48] Speaker C: That's a good mental image when you.
[00:14:51] Speaker B: Think about the journey with the concept. What is so interesting? I was literally just having this conversation with a client who's read our most recent book titled don't spread the wealth, and his name's Mark, and he downloaded one of the templates and he said, reason why I wanted to connect with you. So this was a half an hour conversation. And so I said, oh, you know, what's going to make this 30 minutes the best use of each other's time? And he said, well, I just wanted to lead with, I'm going to be hosting our very first family banking meeting because I feel like I have a higher degree of confidence that I've at least got some framework to do that. And I said, let us know how that goes, and well get you on the show and well have you share a conversation to the degree that youre comfortable. And he said, yeah, absolutely. Of course. So the reason im saying this is that this has evolved for us, because Nelson always said, the more that you see infinite banking concepts, plural, the more youll see, you didnt see.
And this is still happening in Richard's life and my life. And we are, we've been practicing this process myself personally since zero eight. Richard Zero nine was his first exposure to the concept. So just think about that duration of time and everything that's happened along the way. And we've been gradually and incrementally assuming control of the banking function as it relates to our needs and our family's needs. And this concept is primarily discussed at the individual level. So, Andrew, you should control how you finance the things that you need throughout your lifetime. You should control the banking function as it relates to your needs. But we've taken that and just amplified it to say, your family should control this function as it relates to their needs. Your company should control this function as it relates to its needs and so on. Right? So you have witnessed this along the way. You're literally curating all of our YouTube content. And so you're. You're learning your business is providing a service and you're learning something in the process. Like, how does that land with you? Like, what has that been like? I'm curious to know, from your vantage.
[00:17:27] Speaker C: Point, compound interest affects and impacts all of us at all times. Without exception. You're either growing or you're dying. There's nothing static in life. And I personally used YouTube to improve my life. And like I said, I'm a fact finder in the Colby index scoring system. So I personally found a YouTube, when it comes to education, to help me rewire my brain or gain an understanding. And your guys videos specifically, I would consider to be one of the most impactful group of videos on all of YouTube when it comes to financial education for Canadians and Americans. Richard, you have a video called what are paid up additions on the YouTube channel. And even though I had been practicing the infinite banking concept by the time I, like, saw you make that video, even though I'd been practicing IBC for a while at that point, it wasn't until I saw that video where it was, it just like. It just clicks. And like you both of. I've heard both of you say this because I guess this originated with Arnold's Nash. It's more caught than taught. And that was one of the examples of a time where I watched I a video in this situation. It was a video that Richard made with some very clever visual animations, because like the vast majority of the human race, just because of how the human brain is wired, I do learn best from scene. And when. Anytime you're dealing with numbers, it's just nice to have a visual representation, a graphic of some kind. And I think I personally believe virtual reality and augmented reality and those kinds of things are going to actually improve.
It's gonna, you know, get better with time. But now I digress. I'm going off in a bit of a tangent. It was that video that Richard created on the channel where it kind of just clicked with me and I was like, oh, no. Because it's a very sometimes, and for better or worse, sometimes in your industry, you guys are kind of locked in with using some jargon and terminology that the everyday Joe kind of gets lost with. And I. And I can relate because I'm not an authorized infinite banking practitioner, but when I'm watching videos and reading books and even though Nelson did an amazing job writing that book that's only 90 pages long. You really do, you guys have said this many times. You really do have to read it more than once. It's just the first read is not enough because it's almost like you're reading a different language. Because we've all been kind of brainwashed to believe things a certain way. Oh, you need a mortgage. Go to the bank. Oh, you need to pay for your daughter's wedding. Go to the bank. Oh, you need to. Your kids going to school, go to the bank. We've all been indoctrinated into this system, into this traditional way of doing things. We're all sheep, sheeple at the end of the day, just doing what everyone else is doing. And it's just a real shame, it's just a real honest to goodness shame that more people aren't practicing the infinite banking concept, becoming their own banker. Because, man, oh, man, the amount of problems that could be avoided in our world if they had complete and total control over the banking function as it relates to their needs. There you go. So. But to answer your question, that specific video would be a great example of where I had that Eureka moment. And I had already been practicing the concept for a number of years.
[00:20:49] Speaker B: You're going to have many more eureka moments.
[00:20:52] Speaker A: They still happen to me. In fact, literally. Earlier today, Jason and I were reminiscing as I was watching some of Nelson Nash's YouTube content on their YouTube channel.
Again, a shout out to Andrew and his team for some of the great work that they've been doing there. Uh, and to David Stearns of the Nelson Nash Institute for committing to, to releasing and getting Nelson's content out into the marketplace. So huge shout out there. Um, and one of those videos we're looking for something specific where Nelson's time will grow on your own couch. Out. And I'm like, I saw this. It came out recently. I gotta go back and look for it. Turns out I found it. First video I clicked on, I was able to find the thing. Um, but as I'm going through some of this and I'm rewatching it, and it's bringing back memories is like little glimpses of things that although I already knew or heard them and they'd already connected.
You know, think about plugging in an electrical cord.
The cord is just the trend. It's just the way that the energy gets to the device in such a way that it makes it operate. But you could disconnect that cord and the device won't operate, but then you plug it back in and operates just fine. So the device is fine, but it's not until it's connected to the energy source that it actually starts to do the thing that you want it to do. Does that kind of make sense? Yeah. And so even though you might know something and you might have the ability to operate, if you're not connected to the right energy source, you might not be operating at that moment in time. And so, like, re watching Nelson's content going through the book is kind of like, oh, I'm just reconnecting. I'm just plugging back into the electricity that's in the wall, and you're force feeding that energy to get into your. Into your brain, into your soul, into your heart in a way that it reactivates. What makes that machine work to some degree. It's kind of like the analogy that comes up for me. And some of that was happening yet again today as I'm going through NelsOn's content. And so here's the thing that's really been sticking with me for a while. And I, and I feel like I I wish that Nelson was here to have this conversation. I'd love to just diarize and speak this out with him directly, but it's becoming your own banker. And we spent a lot of efficacy on the words your Own. And that that is critically important because it is units. Your own people want to put a lot of emphasis on the Words bank and banker. But lately, what has been coming up for me that's been really apparent is actually the word becoming.
And so, Andrew and some of the things you're sharing with us over the last five years and your journey and the things that have come up, what you knew, you got started. You knew it was the right thing. You began the process. You added to your system, you grew your program.
But then you're seeing things in the video content, and it's like connection. It's latching. It's caught. More caught than talking. So the reality is, becoming is something that you do. It's an action that happens over time. It's not. I became past tense, my own banker, and I'm done. That's the arrival syndrome.
[00:23:41] Speaker C: Yeah.
[00:23:41] Speaker A: You've never, you know, we're not going to arrive in knowledge. You're always going to continue the journey of learning. So you're always becoming, I'm I'm 15 years at becoming my own banker.
I'm going to continue that process. I'm not going to stop becoming.
[00:23:55] Speaker B: Thats right. Thats brilliant. And credit to Nelson, again, for being very intentional about how he phrased things because he wanted you to really think.
And Andrew, youre going to continue to see what you didnt see up to this point because like you said, youve read the book, youve consumed a lot of content, and then boom, you see this video that rich did on paid up editions, light bulb goes off. There will be, I promise you, if you were to take a moment and read Nelson's book again, you will see a number of things that you didn't see because you are becoming your own banker.
And that's why Nelson, in addition to what rich described, Nelson encouraged people, and he would, he encouraged you by saying, one reading won't do the job.
You have to go back and read it again and again and again because you will see that you didn't see every time you do that. That's the brilliance of it.
[00:25:10] Speaker C: Yeah.
[00:25:10] Speaker A: I think that you're uniquely positioned here, Andrew, to speak on. And that's at the beginning of this, you'd watch some videos and you got connected to Jason, and so your exposure, connection to communication was very, you know, from, from Jason and then adjacently, you know, the ascendant organization and coaches. So you, so you had kind of a firehose level of information, probably more than the average bear because of what you do with YouTube and so on. But your experience has really transcended that in, in such a way where you've had some connection now with the Nelson Ash Institute directly. You've attended an infinite banking think tank conference, which was amazing. You delivered an incredible talk there, uh, for the group that was there. So you got to facilitate being in that room, in that environment of people and actually meet and connect with many of these other individuals who've learned Nelson's work. So I think you bring a unique perspective to our listeners. I'd love for you to just share some of things, your takeaways from the think tank and then what it's like to be surrounded by that community of people. And then one other thing I just kind of aside, maybe you can expand on it, is you've been an avid attendee at a lot of our group coaching sessions that we've done, and you're an active participant, which I appreciate because you bring a lot of value to the other people that are there because you volunteer and you share and you get engaged. So there's two kind of components there I'd love to hear. What are some of your thoughts on that that you'd want to make sure we could share with our audience?
[00:26:36] Speaker C: Well, I think I've got a good answer to your question because I do spend a lot of time thinking about some of the problems that you guys highlight a lot, especially being a professional marketer and using my powers for good. Like the line from Spider man, you know, with great power comes great responsibility. Because let's be honest, there are some marketers out there who maybe aren't making the world a better place.
And I like to think that we, me and my team, do everything we possibly can to make sure that valuable value, extremely valuable, life changing content, reaches as many of the right people at the right time as possible.
And just looking at comments on your videos or having conversations with people in everyday life, there's so many people distracted by things that don't matter.
And it's just, it is a little disheartening, but it just goes to show you how much work still needs to be done to really get the infinite banking concept, becoming your own banker into the hands of everyone. Because it is a universal. Well, universal in Canada and the US, from my understanding, I don't believe the concept can exist around the world because of all the different rules that different jurisdictions have. But for the most part, we're talking about Canada and the US. And after attending think tank and having all kinds of conversations with people in my social circles, I'm blown away with how many people have either a, not heard of the concept, or b, have heard of the concept and are immediately assuming that it's only for the ultra wealthy. That actually comes as a shock to me when I come across that as of this past December, I joined Genius network. Genius Network is a group of highly successful entrepreneurs, entrepreneurs and business owners. And there are people in that group that are orders of magnitude more successful than me. But you know what I've learned by being a member of that group?
It doesn't really matter if you're a poor middle class or wealthy. It doesn't matter where your status is. Everyone struggles with access to capital.
It's a universal problem.
[00:28:51] Speaker B: Yeah.
[00:28:51] Speaker C: And the, and the infinite banking concept solves this universal problem.
[00:28:58] Speaker B: Thousand percent.
[00:28:59] Speaker C: It's a mindset problem. Yeah, we're dealing with a mindset problem. People don't, they're, they don't have the awareness. And then even when they do have the awareness, they're like, oh, that's not for me. That's only for the ultra wealthy.
Was that the answer or the direction? You were hoping I was going to go there with rich? Or did I just mark it there.
[00:29:15] Speaker A: Because you know, it's, it's your, it's your perspective 100%. And I think you're recognizing, yes. What are fundamental problems that you see because you're curious, you're looking at those things. And again, from a marketing standpoint, you're wondering how do you help communicate the solve of that problem? You have people that you know have a solution and you want to make sure that that solution is presented in such a way where other people can connect with it. So that's a unique way of looking at it. I think I'd also be curious just to expand on it around. I guess from my perspective, what I've seen is as an avid learner and an avid student, someone who's voracious actually to a degree on how you like to learn. In your curious nature, which is not unlike my own and certainly not unlike Jason's, you are actively being involved in things that interest you. The infinite banking concept is more than interests you. So you find ways to put yourself in a position where you're being involved and the result of that behavior creates additional value in your life that I can see and you have communicated that you feel. So I think theres an important component there to be aware of. And what I think the takeaway that I have is in getting to know you over the last number of years and then seeing you constantly show up. Andrew shows up, but its because Andrew shows up that hes able to receive the value of everything that he takes in as information. So I think theres a takeaway there that I want to make sure our viewers recognize. There's an opportunity to join a live webinar, to watch this podcast, to consume some additional concept, watch Nelson's documentary film, read Nelson's book again, join on a group coaching session that's available for clients of Ascendant Financial. Don't squander those opportunities. Take advantage of them. They're being created for your benefit. Use them.
[00:31:05] Speaker B: That's exactly.
[00:31:09] Speaker A: Rich.
[00:31:09] Speaker B: And I used to make this expression for years where we would say there's a difference between getting a membership at a gym and working out there.
You have to. It all begins, Nelson said in his book. It all begins with the desire. And that's what Andrew has. And so I echo what Richard said to all of our viewers, all our listeners, regardless of what stage you're at in your journey with this concept, immerse yourself in the resources that are readily accessible to you and you will see something that you didnt see, and who knows what door that can unlock for you in your own journey financially, throughout your life as you work toward that peaceful, stress free way of life financially.
Theres no such thing as having arrived in this concept, let alone anything else. But there's no such thing as having arrived. There's always something new to learn. So immerse yourself in it. Take advantage of these opportunities. We meet with people every single day who say, we've been stalking you guys for months.
We've been consuming all your stuff. We feel like we know you already.
Continue learning. You'll only be better for it.
[00:32:26] Speaker A: Jeff, you mentioned doorways, Jay, and I think it's important because there's this concept of something called the adjacent possible.
And Andrew, I think that's something I'm curious to maybe just pull out a little bit because you've talked about different organizations and things that you've connected with.
Infinite banking is all those getting rid of the snakes of dragons. There's all the financial empowerment that you've already identified. What I'm curious about, if you think about sharing with our listeners, what are the things that are outside of infinite banking that becoming involved with the infinite banking concept and its communities have created for you?
[00:33:01] Speaker C: Trey. Okay, so I can absolutely speak to this because back in 1946, Edgar Dale released what's called the tone of learning, or the pyramid of learning. Both terms are kind of used interchangeably. And what all of these studies have shown us over the years, and I have to know this stuff because it's my business to know this stuff.
What all of these studies have shared or proven to us is that after you read something, and it could be Nelson's book, after you read something, on average, two weeks later, you've only retained approximately 10% of what you read versus. And that's the very top of the cone of learning or the learning pyramid. As you progress down the pyramid, watching a video is actually three times more effective. You are able to retain approximately 30% of what you learned.
And then at the very base of the pyramid, at 90% retention, it's actually you delivering and teaching, giving a presentation. So, like rich, like you mentioned, I gave a presentation at think tank, Jason. So did you. Rich. You were the emcee. That means the three of us on this call right now, we retained a whole lot more about what actually occurred at that event than the people who actually sat in the audience. It's just how the human mind works, right? And then going back to what Rich was just saying there a second ago, anytime you watching this video right now, anytime you're coming across, if you're learning about the infinite banking concept right now. I don't care how old you are, you're probably thinking, where has this been my whole life? Because lots of people say that one of the easiest things you could do is obviously get Nelson's book or get any of the books that Richard and Jason have published. Right? But just be mindful. 10% retention. You can go to the YouTube channel and you can binge watch a bunch of videos. Okay, now we're doing a little better, 30%. But if you are able to start participating and show up, participate in a community, maybe with some like minded people, maybe with a bunch of people that are also becoming their own banker, or improving their wealth creation abilities, or improving the financial situations for their business or their families, or both, you are going to dramatically increase your learning curve by just participating in the debate, by participating in the conversation, you're moving down the learning curve, the pyramid of learning, the cone of learning, so that you are able to dramatically increase your retention. And then, because nothing exists in life without thoughts, thoughts become beliefs, beliefs become actions, and actions is actually what's going to help you improve your life. I became obsessed with YouTube content five and a half years ago when I was sleeping on an air mattress. And I was at the lowest point of my entire life. I was completely at rock bottom. Absolutely convinced I was the world's biggest loser. And I made a lot of mistakes, made a ton of mistakes. Not proud of those mistakes, but I was in a really bad time in my life and I get a little choked up sometimes when I think about it because I can still picture those moments. But one of the reasons why I was able to get myself out was because I started getting addicted to self improvement content on YouTube. Got my finances right, got my health and fitness right, but more importantly, got my mindset right. And, uh, but more importantly, I actually got off my ass and did something. Because if you're just constantly sitting back, passively reading the books, listening to podcasts, watching the YouTube videos, and you're not actually doing anything, not only is your retention going to suck, because now you're not following through, but you're not going to actually make a difference because it's all about action. Words have really little weight in the grand scheme of things if you're not going to reinforce your words with actual action. I learned this years ago on a YouTube video, and I'll never forget it. The most dangerous words in the english language are, I know that. Yeah.
And I'll fight anyone on this if you think you know something but you're not doing it.
[00:37:13] Speaker B: Do you actually know it?
[00:37:14] Speaker C: Because in the three levels of life, mastery, the bottom is knowing one level up is doing, and the very top level of mastery is living it, being it. Right. So if you catch yourself. Yeah, yeah, yeah. I know. I've heard of this infinite banking thing. Well, are you actually doing it? Are you actually living it? Because if you're not actually living it, you don't know. You don't know, Jack. Sorry.
[00:37:36] Speaker B: Thousand percent.
[00:37:37] Speaker A: A lot of people think that they're doing it because maybe they went and been an insurance person and they ended up owning somehow a insurance policy. And they think that what they're doing is infinite banking, but they're not doing anything. They just have some insurance. Might be good.
[00:37:53] Speaker C: Yeah, because they were told that they bought an infinite banking policy. Which doesn't exist.
[00:37:57] Speaker A: Which doesn't exist. Exactly. So the process of actually doing things, 100%. So thank you for sharing that, Andrew. I really appreciate the way you quantified and clarified that.
I've been looking forward to this conversation for a while, because not only just all the great conversations I get to have with you on a regular basis, but just knowing that what you've been able to take in and absorb and recognize over the last number of years since you've been on the show in the past, your own knowledge base, your way to communicate and clarify the things that you know and understand about this process to other people, that you're an advocate. And so the other thing I would encourage our listeners to do, and many of them are advocates, is if there's an episode that we've done or there's a piece of content that we have that has resonated with you, if it's given you that light bulb type moment, then don't hoard it to yourself.
[00:38:49] Speaker C: Yeah.
[00:38:49] Speaker A: Make sure that you hit the little share button and send it to someone that you know, love and care about and say, hey, I just watched this and here's something that really connected with me. It's one thing to just share a random post online. We all do that. Okay. Social media, sure. We don't promote ourselves, but it's a totally different thing to say. Hey, Andrew, I was thinking about you. I saw this video and here's what really connected with me, and I thought you would appreciate it. Specifically. There's a big difference between that and one of those is relationship building and adding value to people's lives. And the other one is just like taking a shotgun and shooting it randomly out into space to see if you hit anything. So anyway, I just appreciate you being on the program, Andrew, and thank you so much for sharing everything that you've done with our audience today.
[00:39:32] Speaker C: Well, thanks for having me. I'm super passionate about everything finance. I definitely consider myself a money geek. And it's only because early on in life I experience more financial pain than I care to admit.
I remember trusting other professionals with my wealth and boy, oh boy, was that a mistake. I don't know if I should say the name or not.
IG investors group.
Sorry.
[00:40:01] Speaker A: Must have a bad Internet connection there.
[00:40:02] Speaker C: Yes, must have been. Must have been. Boy, oh boy, did I lose a lot of money because I wanted to trust an expert, an authority who I thought was going to be better, do a better job with my money. And boy, oh boy, did I lose my shirt.
I'm actually grateful for that painful experience, though, because without going through that painful experience, I would have never started buying Robert Kiyosaki books. I probably would have never found the infinite banking concept online. I probably would have never been introduced to you, Jason. So I lucked out that I was burned by a financial expert early on in my life and because that lit a fire under my butt. And now I'm, because I was able to claw myself out of financial ruin in big part by using IBC.
I just want more people to know about it. So yeah, you're absolutely right, rich. I'm a huge advocate.
[00:40:59] Speaker A: You made one more comment you made earlier about being the abusive relationship with the bank. I thought that was really great analogy, by the way, but it made me think about a more recent experience in the last about twelve months that you had where that abusive relationship turned very chaotic. In fact, you and I recorded a separate piece of content with a bit of a rant piece for the other channel on this. But you basically had revenue showing up in a bank account for your business and then they werent giving it to you. And so you had several months of revenue that you couldnt tap into to pay your people and your staff and your bills. And so thats a direct recognition of the banking system, not to blame a bank, but more the systematic approach of this bank. Basically, without even directly telling you they were seizing your capital and not letting you access and keeping it in a prison.
If you could give us the Coles notes version of that, I think thats a great way to just start to wrap us into why you need to consider becoming your own banker because of these types of things that can happen.
[00:41:57] Speaker C: Trey. Well, for you watching this video right now, just click the link in the description below to access that conversation that rich and I did a while back. But the gist is, is that my business received some revenue from a client and for seven weeks the money was nowhere to be seen. No one could tell me where the money was. The bank couldn't tell me what happened to the money the client paid. So it's not like me and my team could stop providing services.
But for seven weeks the money was just missing.
And then one day the money finally showed up without any apology, any acknowledgement of wrongdoing.
The traditional financial system is absolutely broken. I've got enough stories to back up my opinion on that. And I don't understand why bankers and banks and credit unions and I don't know why they think they can wield the power that they do when they've severely damaged their own brand for the last 1520 years. You could probably even go further back than that.
I dont trust those people as far as I can throw them, Trey.
[00:43:11] Speaker B: Well, on that note, Andrew, it was a pleasure to have you. Welcome back and congratulations on being our first guest on wealth on Main Street.
Rich and I were having a number of conversations today about the brand over and we're, we're pretty pumped about it. So thanks for being with us and we'll include in the show notes if people want to follow you, connect with you on the LinkedIn ers or the facebooks or wherever they can, you know, find you to say hello. But thanks again, Andrew, it was a pleasure having you. And to all our viewers on the youtubes, there's going to be a link for you to click on.
You're just going to want to do that. So the link that you see, click on it. There's also another video. Do it now and watch it. We curated the video especially for you to continue that journey of learning. So be sure to continue learning. And guys, this was a lot of fun. Have an outstanding rest of your day.
