81: IBC First Principles: Mastering the Basics of Privatized Banking, Part 3

[00:00:00] Hello, everyone. A quick heads up before we get started with this episode, we will very soon be changing the name of this podcast from The Fifth Edition to "Strategic Whole Life." And don't worry. The topic of our podcast is not changing. We're fully committed to The Infinite Banking Concept and helping people understand how it works.

[00:00:20] The reason we're changing the name of the podcast is we found that The Fifth Edition was just a little too esoteric. It was originally a call back to the final print edition of Nelson Nash's "Becoming Your Own Banker."

[00:00:32] But it wasn't helping people find us and the information that we're sharing in our podcast.

[00:00:37] So keep an eye out. When you see the new name, pop up on your feed, it's still us. And we're looking forward to doing many, many more episodes with you.

[00:00:45] Thanks. And now let's get on with the episode.

[00:00:47] John Montoya: Episode 81: IBC First Principles, Part Three. So we covered one through seven in episodes 79 and 80. Today we're gonna [00:01:00] tackle 8, 9, and 10. So thank you for joining us for part three. John, let's kick this off with number eight, park wealth where you can get the most economic value.

[00:01:10] John Perrings: Yeah. And, we talk a lot about in your financial life, getting all of your dollars to do the job of two, three, 4, and whole life insurance is one of those special assets that gives us some economic leverage and allows us to do just that. And so when we say park wealth it's a little bit of a misnomer.

[00:01:31] It is where we're storing our cash, but everything stays in motion. We talked about how, money is like, there's only one pool of money and money is like water and water needs to flow. We are storing our cash there, but when we're practicing IBC, that money is constantly in motion.

[00:01:48] The but if we look at where we can get the most economic value, one of the things we need to talk about is, it has to be held safely with a trusted third [00:02:00] party with full legal reserves, right? By law, if we're talking about whole life insurance and these insurance companies have.

[00:02:08] Darn close to a 200 year track record of the top performing oldest mutual insurance companies is what I'm talking about. They have a track record of, close to 200 years of, making good on their promises.

[00:02:21] John Montoya: Yeah, absolutely. One, one of the things I like to point out is that, all the companies that we work with to implement IBC, they've been around for at least a hundred years. They're A rated and they've paid out a dividend consecutively every single year for a hundred plus years. And that speaks volumes to me because when I park a portion of my wealth I want it to know that it's with. safest entity I could find, the safest third party custodian. And people tend to overlook life insurance companies as a place to [00:03:00] park a portion of their wealth. And they're really missing probably one of the best stories in all of finance. But it's because of the conditioning that we've received for so many years and decades of our life, where we're taught from a very early age to go to a bank and deposit money at a bank.

[00:03:23] And it's safe there. And we get the sticker of a sh of a sh I want to say assurance. It's not insurance, that sticker of FDIC FDIC is just as insolvent as all the fractional reserve banks that we deposit money with. And then compare that to a full reserve system, like these mutual life insurance companies by law have to, they have to play within this really conservative set of rules and it's.

[00:03:52] There's no comparison when you do contrast the difference between these two systems, fractional and [00:04:00] full reserve systems, but unfortunately it's hiding in plain sight. And the interesting thing is we call it cash value. And we probably don't pay enough attention to that, words have meaning and they're important and that, that phrase, those two words together, cash value, it's not just cash sitting in a, in, think of it like cash sitting in a bank.

[00:04:26] In a deposit box or in a checking account or in a safe, wherever, if you have one this is cash with a third party custodian and it has additional value, cash value. And I really want people to hold on to that thought because when you think about all the economic value that's derived by holding a portion of your wealth and a whole life policy, you're getting more bang for your buck.

[00:04:53] It's not just. Cash in, in nominal value, you're getting a future [00:05:00] value, that death benefit. You're getting the ability to collateralize it without the concern of having that loan called on you. The life insurance company can't ever give you a loan and say, Hey, you know what? We need that money back in 30 days.

[00:05:15] Otherwise we're going to cancel your policy. That can never happen. Can that happen in the fractional reserve world where you go take a loan? You got a line of credit. Absolutely. It can. So night and day difference, and you want to park your wealth where you can get the most economic value. And it It goes way beyond just having availability to cash, there's so much more within a whole life policy that gives you economic value in different phases of your life for your entire life.

[00:05:49] John Perrings: In IBC, we talk a lot about the cash value. And but of course, life insurance is life insurance. And so there's a death benefit associated with that. And in fact, that's [00:06:00] where the cash value actually comes from.

[00:06:02] So you could think of it like the equity in your death benefit. But talking about other sources of value with the policy, you've got the death benefit, you have the cash value. You have the

[00:06:13] non- forfeiture options, which are, different, tons of different options for you to hold on to that policy.

[00:06:20] If you hit a rough patch and have trouble paying premiums, you have a disability waiver of premium. You have accelerated death benefit riders for chronic and terminal illnesses. There's all kinds of things that these policies have, not to mention it's going to grow. Typically more than what it would grow in a, typical commercial bank.

[00:06:43] So you have all these benefits of this whole life policy. You're paying the exact same amount of money into it. There's, of course there's a little bit more of a commitment compared to a typical savings account where you do have to pay those premiums. But like I said, there are a lot of options if[00:07:00] to pay premiums if you hit a rough patch, but the that, that's probably, a good thing, if you talk to someone, one of the reasons they like their 401k is they call it, it provides them with a forced savings.

[00:07:13] It forces them to save. Meanwhile, it forces them to save in a platform where they have zero control, zero liquidity, penalties if they take the money out, all this other stuff. So I guess what I'm saying is, provides that. Forced savings in a way that puts you in control, gives you liquidity and gives you leverage.

[00:07:33] That's really what IBC is all about, where we can use some safe leverage to create acceleration in our financial life.

[00:07:41] John Montoya: I like your use of the word commitment, it made me think of a meme that's been going around the internet, hard times create strong men. Strong men create good times. Good times create weak men. Weak men create hard times. And if you think about the commitment that you make to [00:08:00] yourself when you commit to paying premium it might be it's going to require discipline on your part, but the discipline, those are potentially how you see it.

[00:08:12] If you see it as hard times it's going to create a strong. person within you because you're committing to your future self through those premiums and what's going to happen. It's you're going to create capital and you're going to create good times for yourself. But if you've got weak hands and you lack the discipline to save for your future.

[00:08:35] The consequences are pretty apparent what, what's going to happen. So I like your use of the word commitment because IBC does require discipline. It does require commitment, but. If you can commit to your system of policies, commit to paying premium, good times are ahead.

[00:08:58] John Perrings: Yeah. And, just [00:09:00] to add on a little bit about, you're tracking the word commitment. That's one of the things that gives these policies value to the insurance companies as well is the fact that they have a commitment of the premiums coming in. If you look at banks buying and selling mortgage paperwork, why do you think they do that?

[00:09:18] They do it because That paper has a 360 month commitment on it or 180 month commitment. It's the commitment that creates the value for a lot of these financial instruments and life insurance is no different. But then, as you said, Montoya, the commitment to yourself is even more important. I have a lot of conversations about like, how much premium should I pay? And people hem and haw about like getting started and like how much they should, how much they should do. And it's don't make a big deal out of it. Just pick something, if it's just picking a number, just pick a number that you can start with.

[00:09:55] And you'll find that once you have that commitment that you've [00:10:00] scheduled for yourself and now making those premium payments on auto-pilot, it becomes easier and easier as you go along. And you typically find ways to pay even more premium as your income increases over time. You'll find ways to pay, you'll wish you could pay even more premium. Most people start off too small, as opposed to too big. Some people do start off too big. We try to, we try to help people avoid that particular problem. But Usually people start off too small because they're afraid of the commitment and it's totally understandable.

[00:10:33] There's nothing, abnormal about that, but once you start down that path and create that commitment for yourself, you'll find that you'll look for ways to increase that commitment because you'll see how much more you're getting out of this. Once you get started and get rolling,

[00:10:49] John Montoya: And I would just say to that, if you're starting off on the more conservative side of paying premium, we're talking about getting the most economic value here you [00:11:00] want to lock in your human life value. If you're starting off on the lower end of that commitment that way. If something happens to your health later on, you've locked in your human life value.

[00:11:12] You can take a convertible term policy and automatically without an exam, without underwriting, convert it into the whole life policy that you really wanted to start with, say, in the beginning. Park Wealth where you can get the most economic value. If you're starting on the lower end, make sure you lock up your human life value too.

[00:11:36] John Perrings: Yeah. Cause when you're starting on the lower end, a lot of times you're on the lower end because you're a little bit younger. But even if that's not true, it doesn't matter. We start where we can start, it's so I've been in, Marshall Arts for 30 years, and when people start training and they learn, all these different things, they're like, man, I wish I would have started this when I was, whatever, 18, it's it doesn't matter, [00:12:00] like you're starting now, that's the only time you can start.

[00:12:04] And it's like everything else. People always wish they could start, or Start something sooner because they learn something new, but it doesn't, obviously it doesn't work that way, at least not yet. So you, we start where we start and just do what you can do now. And that's all we can do.

[00:12:19] John Montoya: Let's go ahead and pivot to principle number nine, the golden rule. He who has the gold makes the rules. This one's really about self sovereignty for me. And when you have capital available at your whim, you basically get to decide how you're going to live your life. You're not being manipulated in.

[00:12:45] Really in any way, because in, in society that we live in, if you've got your money trapped up in a 401k and IRA and the walls of your house, you are beholding, beholden [00:13:00] to banks and lenders. You've got to go out and get that loan and agree to that banker's terms in order to get access to the capital.

[00:13:12] And it's all because we're saving capital in the wrong place. And if if you have your "gold" available, where you have access to it, you have control over it, you are operating within a system where the rules are known. And they cannot be changed on you. And that's extremely important. A whole life contract.

[00:13:35] You may not realize this, it is a unilateral contract. Once you have it issued and inforce, the life insurance company cannot change the rules of that contract on you. Your money, your cash value, is under your control. It's safe, as we mentioned with the track record, these life insurance companies and the industry has as a whole, you [00:14:00] have the ability when you have access to your cash value to make the rules in your life to determine, how you want to utilize that money.

[00:14:08] I think off the top of my head about my wife and our situation with her health. We weren't stuck with her diagnosis of staying within the Western healthcare system. We had capital that allowed us to go outside of the traditional health system and what they were recommending for her, and that wouldn't have been possible. If we didn't have money outside of the prevailing conventional fractional reserve system, if we had all our assets tied up in a 401k IRA, we would have never had the options for alternative holistic care that has put my wife on a path for actual healing. When we have, when we follow the golden rule, We're going to have more options [00:15:00] available to us not just when it comes to the financial decisions, which are probably more top of mind for all the listeners, but here in this case, it opened up a completely another avenue for health and for.

[00:15:15] Choosing different life options that otherwise wouldn't be there. And it's because we were able to make our own rules.

[00:15:22] John Perrings: Yeah, I wonder what it would be like trying to go to a bank and get a, an equity loan from the bank on your house to pay for healthcare costs, probably not too likely that that would get approved. HaVing control and liquidity, a lot of Financial gurus on social media talk about how cash is, the worst, don't hold, don't have any cash, tie it up all, tie all your cash up in real estate, and it's okay that all works really well until it doesn't, just like a lot of things.

[00:15:52] So having control over, over what you're doing is. When you need it, [00:16:00] having that control is the, it's the thing that saves you. And a lot of people, unfortunately, are just putting the cart before the horse right now, putting all their money into things that they don't have any liquidity.

[00:16:11] They don't have a really very good emergency fund. And then, things like COVID happened and people are, really put in a bind. A lot of people had a really hard time during that period, losing their job or not being able to go to work. All the, or putting their health at risk to go to work, things like that.

[00:16:31] Having that having the ability, having the gold to be able to make the rules is unfortunately a a principle that's been lost over the last generation or two. And it'd be, I think it'd be a great thing for everybody to realize that and get it back. Another thing I wanted to say quickly is the...

[00:16:50] You mentioned the fact that a whole life insurance policy is a unilateral contract. This is a very important piece of information to [00:17:00] understand that, we're talking about control right now, the policy owner is in control. The only entity that's on the hook for anything is the insurance company.

[00:17:10] We are transferring risk to the insurance company. In exchange for that premium. We had to qualify for it. We were on the hook, the policy owner's on the hook to qualify, but once they qualify, the insurance company's the only entity that's on the hook and obligated to perform.

[00:17:27] Of course assuming premiums are paid. So you do have to live up to that obligation, but. It's not actually an obligation. You can stop paying premiums and surrender a policy anytime. And with a whole life policy, of course, you get the cash surrender value back. Now there's, we talk a lot about the capitalization period.

[00:17:43] So depending on when you did that, you may not get all the cash that you paid in premium. But if you let that policy mature you'll get your money back and then some, but I guess the real point that I'm trying to make here is you're in control. You make the rules about what's going on [00:18:00] with this policy.

[00:18:01] And then going back up to a point number eight about, where you're keeping your wealth and getting, having all of the benefits of a whole life policy and all you have to do is pay a premium. So I think that's a super important piece, the unilateral contract side where there's a lot of. Misinformation or misunderstanding out there about how whole life works, where it's they just, they paint this picture that, you have to pay premiums for the rest of your life.

[00:18:29] Which by the way, you might, but you'd want to, once you understand how it works, you want to, but you don't have to you're never locked into this situation, you're in control. And the fear mongering that goes into like how whole life is a rip off is just like crazy to me that anyone who just takes, I don't know, 10 minutes to look into how it works, like you can see that, it's not everything they're making it out to be.

[00:18:54] John Montoya: Yeah. And those people that perhaps are adding fear into the equation. What are [00:19:00] the alternatives that they're suggesting? Listen to what they're saying because more than likely they are suggesting that you forfeit control. To banks and wall street and the government. And if you think about those options, you're putting locks on your capital and that's a recipe for.

[00:19:29] Almost sure disaster. And I say almost, because there, there's going to be some liquidity that you can get access to with a 401k and IRA before they completely tax and penalize you and then say no more, 401k max loan is $50,000. With a bank I was reading something about, one of the biggest banks out there at most, they'll give you $15,000 in cash per day. And that's at one of the biggest banks try going to a smaller bank. They don't [00:20:00] keep that much cash on hand. So if you keep a lot of cash in a traditional bank account and you actually try to go in and ask for your cash, they're going to limit how much they give to you.

[00:20:13] There's capital controls wherever you go. And to have a system that's outside of the prevailing conventional fractional reserve system, where you have a known set of rules that you can have access to your cash value. And they're basically going to ask you two questions. How much of your cash value would you like and where would you like us to send it to?

[00:20:35] It's a very liberating feeling to know that you can really determine. Where you want to go with your capital and you're not having it dictated to you. Be careful what and listen to what people are suggesting. If they're. Using fear to suggest that whole life is a awful place for [00:21:00] money because I will say that and this goes back to something I heard a long time ago, people's understanding of life insurance is most likely based off of someone else's misunderstanding.

[00:21:12] And if you don't take the time to do the research on whole life. Then you're going to be stuck on someone else's misunderstanding. So definitely make sure you do your own research.

[00:21:23] John Perrings: Yeah. It's also just Not to belabor the point, but if we're talking about control, where's your money actually in control? A lot of the folks that are maybe bashing whole life a little bit, where they're telling you to put your money in mutual funds.

[00:21:38] So it's like, where, whose game are you playing? Like a lot of people. Work for 40 years just to get average results, do we really want to, do all this work just to get average rates of return? Which by the way, are completely bogus. That doesn't work the way people think it does.

[00:21:59] But [00:22:00] do we, are we really working our whole life just to get, an average performance? And, The reason it's all average is because. Most of us are taught to put our money in places where other people are making the rules on how it works. And those people, the insiders, they get treated differently than we do.

[00:22:20] They win no matter what, right? Where we're subject to, market corrections and taxes and, bad trades and fraud and all this other stuff. It's do we want to have control over what we're doing so that we can make the rules in our life? Do we want the our gold to be in a place where we can make the rules?

[00:22:40] Or do we want to hand over our gold, so to speak to other people who we play by their rules? And by the way, a lot of times we don't even know what those rules are. Trent Fortner has that great line. You're playing a game against the best people in the world, the financial game, and, most of us don't even know what the rules are, the rules of the game are.

[00:22:58] John Montoya: Our last [00:23:00] principle, think long term and this really goes back to Nelson Nash and the mindset that he wanted all of us to develop and harness because when we are able to think long term, we're thinking generations ahead and that puts us in the best possible place to make economic decisions.

[00:23:28] But a whole life policy is just that. It's going to cover you for your whole life. And it really allows us to make the best possible decisions during our whole life, because we have capital that's accumulating. In a favored place, favored within the IRS tax code, something that we may not have mentioned in principle number eight, but there it is it's favored within the IRS tax code, it's favored in the rules that are set up for us that get [00:24:00] grandfathered in once we have this unilateral contract there, there's, No one entity that has the power over us to change these rules.

[00:24:10] There, there are no rulers for example, like Congress changing the terms of your 401k and IRA that, you can only contribute this amount to those government qualified accounts not so with a whole life policy, really the amount of. Premium that you contribute is based off your own financial situation.

[00:24:32] What is your what is your wherewithal, your capacity to pay premiums, your income, your overall net worth your health. A whole life policy, it it really helps you to develop this muscle of thinking long term that will benefit you your entire life. And it it really for, especially in the age that we live in, where we have access to information.

[00:24:59] At our [00:25:00] fingertips and we are, it's very easy to succumb to chasing the next shiny object and chasing rate of return. If you think about. The common person's mindset, we're constantly, being bombarded with what the latest and greatest is, the next iPhone release the next the 2023 now going to be 2024 edition of the next car and, everything that comes out and we want to have those things and we want to, it's this mindset of keeping up with the Joneses.

[00:25:36] And. Here we've got this boring whole life policy. it's not sexy. It's, no one's going to want to talk about it with their group of friends because it doesn't earn it doesn't have the potential for, 10, 20, 30 percent rates of return. It's. It's nothing that you can show off.

[00:25:56] It's not like we carry our whole life policies around with us and say, [00:26:00] Hey, look what I got. This is something that's very boring. But at the same time, I love that aspect to it. And I prefer that aspect to it because that gives me the peace of mind knowing that all the change that's happening in the world.

[00:26:17] With all the, latest release and whatever, suits your fancy. I've got something in my back pocket that is there for the long term and it's going to allow me to make the best economic decisions for my life. I'm not having to rely on banks and lenders high interest card or high interest rate credit cards, because I've.

[00:26:42] Develop a place for capital where, I can bypass what the banks and the lenders are offering if I'm, not in favor of it, I can bypass the shiny investment that, may be too good to be true. It looks great [00:27:00] right now, but in another year, five years. Probably not going to perform right.

[00:27:04] Most investments they don't end up working out the way that we thought. There's always a level of risk to all investments. That's what entails an investment. There, there's a risk there. And here I've got my low time preference. My, I'm thinking long term with my whole life policy.

[00:27:21] It's always there in the background working, whether I put that money to work or not, it's always there. And if I come across something that I do want to invest in it's there and I can take advantage of it and I've done so safely. Because the leverage within a whole life policy is guaranteed to increase in value every single year, no matter what.

[00:27:44] We talked about the concept of getting better every single year, gets better all the time. When you have that ability to think long term with a whole life policy, your entire life improves.

[00:27:58] Yeah, I mean, you [00:28:00] already mentioned it. The common, financial information that we get, we're bombarded with information that is all short term thinking. The longest people usually talk about in the typical financial planning space is maybe 30 years, right?

[00:28:15] John Perrings: A lot of times people will talk about how to get the biggest account by the time you get to retirement. And so they'll have this, maybe a 30 year outlook.

[00:28:25] Most, a lot of the stuff that you see out there, on, on social media is not even close to 30 years, but let's just say it's 30 years, Nelson in "Becoming Your Own Banker," he talked about how you should have an outlook twice that, right? And 70 years is what he talks about in the book.

[00:28:43] And, so we're, the thing is not only do you have to plan, For the accumulation that you're getting while during your working years, you also have to plan for how are you going to live, during your retirement years, if you like that idea of retiring, [00:29:00] but then the other side of it is what happens after that, are you really, is your plan to just leave your family in the same position that you started in where you're just going to spend everything?

[00:29:10] Yeah. And it perpetually puts people in this save up, spend down cycle that just keeps repeating and repeating generation after generation. Meanwhile, there's all this envy and hatred towards, the so called "1%" out there or the 10%. And it's Your family could have done that too, if they knew what they were doing with money.

[00:29:31] Sorry that's the truth. So we're, the best we can do is, my family didn't do it either. John Montoya's family didn't do it. So we're speaking from, experience here. We're not just we're not part of that 1%, but we're starting to build that. And instead of having our future.

[00:29:50] Family members have to start from scratch like we did and just repeat that over and over. Why will we not build a plan that allows them to build on everything that we've done [00:30:00] and truly create that legacy where, our kids or our grandkids don't have to make decisions based on money. A lot of people will talk about I don't want my kids or grandkids to have money because then, there'll be these trust fund babies or whatever.

[00:30:14] That's not a money problem. That's a raising your kids problem. So they're two different, they're two different things. So don't, don't get one, don't throw the baby out with the bath water, so to speak, since we're talking about kids don't throw the baby out with the bath water and, everyone should have a long term plan, and so a lot of times, you just, you talk to people and all they care about is the first, three years of their whole life insurance policy because they're a quote unquote investor and they don't want to, they don't want to lose out on opportunity cost.

[00:30:46] Meanwhile, why are you starting a whole life policy? Why are you starting IBC? Is it because you want to be strategic? And most people would say yes to that. And do you want to be strategic for three years? Or do you want [00:31:00] to be strategic for 300 years? You know what I mean? tHat's long term thinking.

[00:31:06] People really have to see through the smoke and mirrors of this creating these policies that really only show the best value in the first three, five years, whatever it is and start thinking long range just like Nelson talked about in the book, which is again, "Becoming Your Own Banker."

[00:31:26] That's the source material for all of this. so Anyway thinking longterm, it's probably the number one thing that I think people have a hard time doing when starting IBC or evaluating IBC. They're only looking at that kind of hack culture. Like they're, they want to get a financial hack and, man, I really hate hack culture.

[00:31:48] I hate. Headlines that talk about 10 hacks to do this. It's Hey, there's a process for everything and everything should be process based, not hack based.

[00:31:58] John Montoya: There was something in there that you [00:32:00] said that made me recall one of the most beneficial things that came out of my high school experience from an education standpoint, and it might have been home economics class, but I had to create a vision board for Where I thought, or what I foresaw in my life and what I wanted to make happen and that vision board I planned from graduation of high school, pretty concretely all the way out to age 30.

[00:32:31] And funny enough, all these things that I had planned for up until age 30. Pretty much came to fruition, but it was that process of thinking long term and as an 18 year old thinking into, into your, going to college getting your first job, starting a business buying a house, getting married, starting a family, all these things I basically thought of, put it [00:33:00] down on this board and the end.

[00:33:02] It basically happened in sequence, and then what happened, I couldn't see past age 30. And so I just put a sailboat just going, sailing off into the sunset. And what's funny is that I think about that now, and it was in my 30s where, I didn't have my an idea of where life would take me.

[00:33:22] And sure enough the curves the fork in the road. For me and my life experience, it basically more or less happened in my early thirties and I didn't really have a guide or it just, I didn't know what was going to come cause I hadn't really thought through all of that and not that we can ever have a crystal ball for anything, but just the idea of thinking longterm and putting our thoughts down on paper Whole life.

[00:33:49] These are thoughts that we materialize into a contract. It is on paper now. Nowadays, it's going to be maybe a soft [00:34:00] PDF, but you can print it out. But all your hopes and dreams. Can really go into this contract and guarantee that what you want to have happen will happen. And if you're thinking to yourself I'm not 18 anymore and I, what am I going to do to plan for my future?

[00:34:16] That, that's nice. Nice story, John. But I'm 47 and I still haven't given up that vision board. In fact I looked over to the pause real quick here, but if you're on video, I still have a vision board. And there are things that I still want to do with my life and I'm planning to do with my life that, that's never ending.

[00:34:37] And so the point I really want to make here is that no matter where you are in life, You need to think long term because you're probably going to be around for a long time, decades. And to your point, John, if you're thinking I'm going to retire at 65 and I'm thinking in the back of my [00:35:00] mind, okay, and then what?

[00:35:01] Do you stop needing access to capital? No, of course not.

[00:35:05] John Perrings: That's right. And if you're, if your plan includes, some people that are going to come along after you There's really nothing better that you can put in place than life insurance. As you get older, it gets harder to qualify for, but it's still it still creates value because of the actuarial nature of life insurance.

[00:35:25] You're still getting your premium is discounted to the value. that your heirs will get from the death benefit. It always has value. That's how it's built.

[00:35:35] Awesome guys. John Montoya, thanks as always. This is, this wraps up our three part series on IBC First Principles. And if you are liking what we're talking about and any of this is resonating with you and you'd like to talk to us and see how some of these principles, first principles, could apply in your life in particular, you can just go to TheFifthEdition.

[00:35:59] com. [00:36:00] You can book a free 30 minute consultation with us right there. No obligation. Or if you're the type of person that likes to do, All their research first and just to learn as much as they can before they talk to someone. We have an online course just for you. You can go to TheFifthEdition.com. There's a little banner right at the top and you can get access to that course. All right. Great great three part series here, John

[00:36:23] John Montoya: thank you everyone. Take care.