people but all right just gonna start saying thank you for investing in yourself um it's great to have my team here we've got Trisha we've got Matt and J and Michael uh we've really been on this amazing adventure of getting What would the Rockefellers do in people's hands um it's a book that has sold so many copies we got 2500 organic reviews on this thing and we just get so many financial people that buy it and hand it out to clients it's really a privilege for us to be able to share this message that really there's a little bit of luck involved in us figuring this out i mean when Michael and I sat down I think it was Las Vegas in 2015 it was between Christmas and New Year's it was like kind of this little dead spot we we rented a penthouse and we're just having a good time with our families and we decided you know what we're going to write a book and so we start writing the book and in the process I'm sharing some webinars and in the webinars we have this woman Sheila she's a CPA for the Rockefeller family that then reaches out and says "I'd love to talk to Garrett i work for the Rockefeller family." And I think what he's teaching is not only unique but it's actually what we do so we start interviewing her and getting all this information then I start talking to attorneys that have you know that have done these types of plans and Michael and I just were like "All right we got to we got to start over to a degree with this book." And you know be being that I've got the long hair and in 2015 people called me money Jesus i didn't call myself that by the way never have I said that but because of the look they said that and I always thought what would Jesus do and I thought you know what that's the title what would the Rockefellers do and that was the question now we're not talking about if you look into their history what they did with business how they operated in business we're simply looking at how did they create six generations of wealth moving to the seventh generation how is it that they could have over 200 people benefiting from a trust but not create trust fund babies we have people that were senators and people that were presidents of banks and doing things in the world not just living off a trust fund it's interesting because two of my mentors mentored David Rockefeller so how crazy is that i just sat down with dinner last week on a Monday night just over a week ago and I was sitting down with a guy that runs a family office he's a billionaire and it just so happens he offices with the Rockefellers i don't know how this all happens it just kind of comes together so we continue to have these insights and uncovering and one of my very close friends that was very very instrumental in creating the family retreat structure he's actually now mentoring a Rockefeller on moving to the seventh generation so it's just really cool to have these experiences and Michael and I's intent was how can we make this available and accessible because I started this when I was 19 years old i didn't have a family yet i didn't know everything about this but there was a first step and that's a step that led led to the questions and learning about this so I want to be clear I didn't come from money i'm from a coal mining family my great-grandfather was a coal miner my grandfathers were both coal miners and my dad was a coal miner but when I was a youngster at 15 years old I started a business detailing cars and by the time I was 16 years old I won the rural young rural this is a hard mouthful rural young entrepreneur of the year rural young entrepreneur of the year and it came with $5,000 and I thought man I want to invest that $5,000 more complicated than I thought because my mom had to sign off as a custodian and she didn't want to do it because she was afraid I would lose the money and so she taught me her money method meth money management methodology which was you put cash in coffee cans and you put it in the seller but that wasn't good enough for me i was a young kid that wanted to make it to the big city and I thought the best way to do that was to invest i was inquisitive and curious and I would just ask anyone I knew with a lot of money how did they invest like my uncle I said "Hey where do you invest?" And he told me about some stocks and then my aunt pulled me aside she goes "You know what your uncle makes a lot of money as an executive and he pisses it away in the stock market so I don't know if I'd take advice from him." I was like "Okay got it." And you know but this was this was just my my early mind and I love that Michael was on the same path saying "Let's learn about this." And we took and I think it was 26 straight months we traveled somewhere we went and we learned we met from people that were that were in part of family offices which is a a term really coined by the Rockefeller family they had enough money that they had a financial firm that only worked for their family hence family office their own accountants their own attorneys their own investment adviserss their own you know specialists in risk management asset protection and Michael and I had this early mentor who actually licensed the content of Rockefellers which is super cool but he licensed it because of what we've what we've been able to unveil and teach but he was the one that showed us a $400 million transaction at a family office and I was like this is crazy because the client wasn't even in the room but they were talking about how to save tax how to manage risk and mitigate it how to perpetuate wealth how this would have an impact and so it was a pretty interesting and and awesome experience so we've just learned along the way even from the first version of the book that came out in 2016 to the newest version that came out in 2024 there's been some additional pieces of a Rockefeller plan that we've been able to unveil and share and we're going to share that with you tonight now before we go any further I want Michael to share a little bit about his background and his story um and then we'll get into kind of what the format of tonight will be yeah Garrett I thank you for that introduction man i love hearing that story over and over and over like Garrett I didn't come from money either you can see here that I have a motorcycle in my office and yes it's a real bike it's not a virtual background and Gary that I know on here had messaged me he said "Hey what kind of bike is that?" And it's a Boogadiero it's a little pit bike they make him out here in Utah but I grew up in the motorcycle industry uh in seventh grade I started working at the Yamaha shop and I was sweeping floors and washing bikes and emptying trash cans making $2.25 an hour but in seventh grade back then that's how I paid for things that I wanted i wanted to uh uh buy clothes for school i wanted to date girls and definitely wanted to buy parts for these uh motorcycles and I still enjoy them uh to this day with my son transitioning from uh that in the motorcycle industry my first year of college I responded to an ad to sell cell phones and within my first 30 days of selling cell phones I made 10 times what I was making at Yamaha made over $20,000 at the age of 22 in 1993 selling cell phones i'm going to college i meet my beautiful wife Wendy we have both of our kids Kennedy and Kaden and I for all intents purposes think I'm living in the American dream i'm making money i'm investing we have our family so I decided to get into the financial services industry and that's when I meet Garrett late 1999 and Garrett and I met two other gentlemen Ray and Les and the four of us uh started a company together because I wanted to learn more about money and that's when Garrett was talking about us traveling one day Les came to me and he said "Hey uh I've got this investment opportunity i think you may want to take a look at it." I trust Les i do my due diligence and I meet with investor guy and investor guy promises to pay me 5% a month on my cash so I'm thinking man this looks like a pretty good opportunity it looks legit so I give him $50,000 and it was hard money lending on real estate and next thing you know I'm getting $2,500 a month checks and so I'm thinking to myself I'm going to give another $250,000 5% a month and the checks kept coming so then I give him another $500,000 i have $800,000 with investor guy and the checks kept coming then I'm thinking to myself well I bet my client Joe would want to get in on this what about Beth and and Cade and Jim and next thing I know between myself and all of our clients we have over $10 million with Investor Guy and the checks kept coming until August of 2007 no checks september no checks i'm calling investor guy and he's not taking my phone calls i'm uh I'm starting to freak uh freak out during this time of my life uh this was late 2007 so I start emptying my personal bank accounts to make interest payments to our clients in August September October November and December and investor guys still not taking my calls but my phone rings one day one day during that time and I pick it up and I'm all "Hello." And on the other line I hear "This is special agent Mark Jones from the FBI we understand you have investment dealings with investor guy and we need to talk." I can't tell you guys uh the amount of uh fear and doubt and worry and uncertainty that I felt during that time but I do remember sweating bullets as a wire was taped to my chest i signed a deal with the feds but it's too late because the money's all gone completely gone over $4.8 $8 million of my family's entire life savings gone and over $10 million of my client's cash completely gone i can't keep the company together uh Garrett watched me go through this whole experience he didn't have anything to do with it but he watched me go through this pain and this fear and this doubt and the worry the anxiety the stress i uh I wasn't just having an occasional drink in the evening and I was drinking myself silly just to try to avoid the pain that I was feeling and the stress and anxiety of all my clients losing that kind of money i'll never forget it was a Tuesday morning October of 2010 um there's a knock on our front door i didn't work for those several years i was living off some cash savings that I had in my my whole life policies at the time i remember opening the door and it was my wife's family there as two U-Haul trucks backed into the driveway of our home and my father-in-law said "We're here to move Wendy and the kids out." And I knew I wasn't healthy to be around 12 hours later I found myself alone on the bathroom floor this home nobody there and I loaded a bullet in the chamber of a Ruger P89 pistol and I pressed it up against the roof of my mouth ready to take my life over the decisions that had led up to that point of me feeling like I was worthless i remember a rush coming over my body that I'd never felt before i carefully set the gun down i promised to God and to myself in that moment that I would extract the lessons that led to putting that gun in my mouth apply those lessons in my life and to share them with as many people as I possibly can so part of fulfilling my promise to God and myself in that moment is all of you being on this master class tonight with Garrett and I garrett I'll never forget meeting with you after that moment and you telling me that I can choose to leverage my past to create moving forward i'm happy to report that I sobered up 45 days later I moved back in with my wife and kids i'm now a grandpa i have a a grandson that's two and a half years old i have a granddaughter that's 7 and 1/2 weeks old and I'm here to witness I was here to witness the birth of both of my grandkids so far part of what Garrett and I are going to share with you in this master class this Rockefeller method is the the the exactness the lessons that I learned that I applied in my life that's allowed me to earn back all that money I've lost and to help many of you that are in this master class to help what we wrote and what would the Rockefellers do in the first edition in 2016 and the second edition that came out less than a year ago so you guys don't ever ever ever have to experience what I felt that night October of 2010 on the bathroom floor we're going to share with you the life lessons that I extracted that Garrett and I extracted together in this Rockefeller method just like Garrett said whether you have $50 a month $100 a month we have clients putting millions of dollars a year into this strategy into their own own life so you can gain back control and to wake up on a daily basis knowing versus hoping that the morals and values that you live by will be passed on to future generations michael thanks for being so open i mean it's it sets a tone of we've all made mistakes in our lives many of us have lost money with things that sounded great they didn't turn out to be what we thought we might have been chasing a return chasing a dream but not knowing where we were investing and understanding that risk isn't in the investment it's in you the investor and Michael and I are here to help you create economic certainty and when you have economic certainty you have more peace of mind more financial confidence that allows you the individual to be a better value creator and we're here with certainty to make sure that you create a legacy that lasts that you stack the odds in your favor that you find ways to be more efficient with your money that you stop tipping the government and keep more of what you make you pay less on interest by the proper design there you find hidden fees or inefficiencies within investments and plug those leaks and put that money back into your legacy plan or design insurance to transfer risk only for the catastrophic things so the inconsequential things save you money and put it into your plan you can have generational impact no matter where you start today in 2010 Michael hit rock bottom and here he is in 2025 securing a legacy the time that he invests with his family the money that he secured the message that he shares the passion that comes forward and so thank you for your courage Michael and for sharing this and uh here's my promise tonight everyone on here will know exactly how to initiate a Rockefeller method plan they'll know how to capture wealth protect money from the turbulence of this market and have access to your cash when there's opportunities along the way i'll actually share ways to find cash to fund your legacy so this isn't about cutting back or budgeting this isn't about scrimping or sacrificing so that you can have a better life one day someday it's about enjoying the process and enjoying life along the way we're going to share ways that you can own nothing yet control everything a tenant of the Rockefeller family own nothing control everything that protects your assets from tax and from financial predators and what I love is when we get into the place of how to invest in your heirs and capture the most important non-financial as well as financial assets that is having a big vision look that's a big task that we have so I'm going to dive in but first I just want to be really candid with you there is going to be a totally optional offer at the very end so if you like what you hear and want to continue the conversation we've created a 30-day challenge and a course so you can have the Rockfeller method plan in place in as early as 30 days it's going to be a $300 investment and I'll talk about at the end so if you don't want to stay or hear that part you can just hop off and but I'm here to commit to the value between now and then you can use again the Q&A or chat anytime to ask questions throughout and I'm going to take time at the end to answer so give me your toughest questions anything that might come up i'll be covering quite a bit so make sure to take notes i'll bring in Michael Eim as you just heard from him for more details and the numbers on how all this works and again we're recording and we'll send out that link sometime tomorrow this is relevant because you can change your family's financial future and destiny legacy with it's within reach it's accessible it's available and you have the power to make the difference now you have the opportunity and with the right framework and information you have the power to create a lasting legacy there are two critical factors that anyone can implement that make the Rockefeller method the first thing is the right type of Rockefeller perpetual trust there are certain states if you set up a trust it will eventually dissipate and everything will be distributed but there's other states that can go on into perpetuity right we're going to second thing talk about properly structured optimally funded insurance for you and for your heirs it's pretty cool that I could pay my kids taxfree because I'm a business owner it's almost $14,000 a year that I could pay them i can go into their cash value plan we've used the cash value over time but the plan is if they ever want to you know start a business if we want to use it as a down payment for a home there's a number of factors we might use it for it's there but I control it my wife controls it not the kids but it goes in there and it grows taxfree that's pretty cool we're going to talk about that we're also going to talk about the Rockefeller method it's really protected by the three family legacy rings so let's talk about these family legacy rings and Mike while I pull this up feel free to say anything that I you you want to say before I jump into this next piece yeah Garrett as you're pulling that up I told you guys that I extracted the lessons the number one lesson is around so much of what we talk about when it comes to finance is money assets and liabilities so if you think about a property value balance sheet you have assets and liabilities on a property value balance sheet i was my self-worth was tied up in my property value balance sheet and I wasn't even thinking about this adjoining balance sheet called a human life value balance sheet and there are assets and liabilities on every one of our human life value balance sheets some assets would be things like uh uh our knowledge our experiences in life garrett talks uh so much about uh investor DNA you heard him say just a few minutes ago it's more about the investor than it is the investment human life value is the source and the creator of all property value so it's a simple formula if we want to create more property value more cash assets in our life we must first create more human life value and then when we talk about this whole Rockefeller method of planning and having this in our life let's leave both let's leave them the fish but let's also leave them how to fish so leave the property value assets but leave the more important intrinsic self-worth items of our life which are our which are our human life value assets so two balance sheets to pay attention to in your life and Garrett's drawing them out you have your property value balance sheet and then you have your human life value balance sheet i look at both in my life today but I first look at my human life value balance sheet because I know that it takes this and I I commend all of you for being in this master class because you're increasing your human life value by being on this master class call and you're taking back control of your life financially yep so I'm just drawing this out here that underneath is who we are human life value mental capital insights strategies wisdom tools you know philosophies principles as we effectively develop these then we can grow our property value so as I have more financial intelligence as I have financial frameworks then I can become a better investor are stocks a good investment well it depends on you how about you know bonds depends on who you are real estate business you know sitting in cash all these things are dependent upon the more you develop yourself the more sustainable these property value assets become the more you grow yourself the more you can grow those assets so that's what tonight's about in this master class is how do we help you to understand and grow those things so that's I'm so glad that Mike brought that up now we're going to move into kind of this development of human life value and some of the structure which is the family legacy rings so the family legacy rings this this is just ghost drawing things for me i don't know why some of those things are showing up when I'm not even touching this but the first thing would be what's known as this is crazy i'm not even touching that i even tested this out Trisha i'm like why look at what is it doing i'm not even close to it it's just drawing lines everywhere because I I guess because I'm an Italian it just sees me move my hands and it's like yeah we're just going to Or is there someone playing a prank on me in here i don't know i'll do my best to kind of draw this out but so we've got these these circles here right this is a ven diagram and the first thing is a family office so the family office is that cohesive comprehensive coordinated structure with your finances so the Rockefellers were wealthy enough to hire their own family office but if you have a point person that can help you navigate so that your accountant communicates with your attorney your attorney communicates with you know your real estate people uh or your fund managers or different things like that so that everything's owned properly and it's working together that's a key the second thing is a family retreat structure so what's interesting about David Rockefeller is he didn't know how wealthy the Rockefellers were till he got to a certain age and then his classmates told him how wealthy they were that's when he started getting invited in to the family retreat so if we look at any major organization if we look at any major religion they have three things in common the first thing they have in common is rituals you know if you're in a business you might have daily huddles you might have regular meetings that happen then you have traditions you know these might be retreats that happen less frequently or you also have your symbols every organization every you know I was Catholic there's the cross that's kind of a symbol but when we look at businesses they have logos so what if families had rituals traditions and symbols in my family the rituals when my kids were little drive them to school and say "What are the three things you're most grateful for what are the three things that would make this day extraordinary what did you learn from yesterday and what is your mantra that helps you to stay focused on the best and most positive day then at night my wife would sit down with them before they went to bed and said "What was your high and what was your low?" These are rituals on a daily basis that give us a chance to have conversation our traditions are things that we get together now some people have their religious traditions right there might be Shabbat there might be Christmas or Thanksgiving or we've got Easter coming up those could be traditions that families get together we used to go on Easter Eve to the desert and we'd ride four-wheelers and we'd have a whole bunch of fun my grandma would make way too much food and it was just something we look forward to every year there's new traditions that are created though in my family where we do summer Olympics and then we might have a lot of fun games that are just fun and then at the end we just have a conversation we say what does legacy mean to you and that's the dinner table conversation or we have 3x5 cards where we have discussions this is investing in your heirs and then finally symbols yes I have a family crust and inside of our course Matt developed an AI tool so you can have a family crust too in just a matter of moments instead of I hired someone to draw it and then I hired someone to design it and then you know to make it more concrete then we actually made it as a medieval medieval crest that sits on top of our mantle at our cabin and my kids can say what it stands for we have that symbol on our coolers we have it on cornhole on the games it's just all over the place because we want to be reminded of who we are what we stand for now family retreat is one then we also have a family constitution family constitution is your distilled values it's your philosophies it's the signpost you want to leave for future generations to say who are you what do you stand for what do you stand against how could they learn about what the family has learned so they don't have to do it through experience they can maybe not have to make all the same mistakes twice it becomes a preamble to our trust so that it could be interpreted by the trustees so it's not just the legal ease that's critical for the you know avoiding going through probate but it's saying hey we don't know what the life's going to be like in the future but this is really important we think that that that we could learn from each other and so I just lost that whole thing it just disappeared because this has just decided to to do that but that's okay i can redraw it to family office family retreat family constitution i Trisha someone is playing a prank on me there's there's no there's no way that this is you know like look at this other other people have access to that whiteboard that's why that's happening the people on the call I'm not sure how to turn them off but there's a way to turn off to where everybody else can't draw on it but you yeah yeah that would be Yeah so maybe don't mess with me peoples i'm trying to help you out here but in the middle of this is the Rockefeller method the Rockefeller method is the trust and the insurance because if I have insurance when I die that money comes into my family taxfree when it's owned properly by the trust and then I have it on the kids and then again that perpetuates on the grandkids and so in between this you know we have everything from the the meetings that we have the the retreats that we have and all the communication that we have to get this working in our favor so so that's why I'm drawing all of this and uh kind of sharing this is because I want you to understand it's as simple as trust and insurance but on the peripheral what really solidifies it family office that comprehensive team family retreat how you invest in your heirs and family constitution the lessons you learn over your life that you want to share for future generations now I want to let you know this works even if you're deep in debt it works if you're in your working years it works if you're worth billions or if you haven't made your first million look when it might not be the right time to do this is if you're in the middle of going through a divorce if you're having health challenges maybe you're fully retired and no longer working maybe the Rockefeller method isn't perfect for those situations but we've had this work with blended families we've had this work with people that aren't married yet it's just simply if you care to leave behind a legacy more than money and you want to see that money managed properly so it blesses lives versus destroys and harms lives that's what this is for so you don't have to have kids even if you don't plan on having kids if you are wealthy if you're not wealthy we're we're just seeing that if you just get intentional about this it's so beautiful what it could do now we're watching one of the most turbulent markets imaginable yeah what we'll teach doesn't require the stock market to perform you don't have to lock your money away there's no reason to take unnecessary risk and you don't have to overpay tax to follow this plan we're all in store for over a dozen or so lifetime game-changing opportunities in life it's just that most people they don't have the liquidity because they don't have the Rockefeller method therefore they don't have access to cash and that's what we're here to change so I think it's important Mike if we just share a little bit of the Rockefeller versus the Vanderbilt story yeah for sure garrett that's the foundation of it like that like sets the tone of how you and I created this yeah i mean the Vanderbilts they had more money than the US Treasury at one point they had this shipping empire and they said that the last words of Cornelius was keep the money together that's not what happened what happened was his oldest son doubled their estate in 9 years then he died and it was the last time the estate grew 54 years after Cornelius's son died the first Vanderbilt died broke they had an ability to spend money but not to create and not to grow and not to preserve because there wasn't that structure there wasn't a family retreat structure there was no family constitution there was no family office they were not using trust and insurance they left it to chance and that really ruined some of their family members so you know Gloria Vanderbelt she inherited a small amount of money but Anderson Cooper had to fake his credentials just to get into being a journalist just to be on CNN he didn't have the money he had to be resourceful and yes there's some merit in being resourceful but often those resources are destroyed through bad ideas bad philosophy and bad action so the Rockefellers on the other hand it's not just that the Rockefellers have passed on money for generations the executives that work for the Rockefellers are actually passing on money for generations too you know we've got the Bessemer Trust which has grown and they use the Rockefeller method you know basically he writes a letter and and this is inside of what with Rockefellers you can see the letter it's a onepage letter saying "Hey I want to leave this with you but I want you to be stewards over it i want you to grow it i don't want this to spoil you i want to have money where we don't have to pay interest to banks that you could use the family trust and if you lose the money you've got to teach your heirs you got to teach the other heirs what you learn from that you need to lean on the trustees because you know what if I'm around I'm going to teach my kids if I'm not around my trustees edify some of the things that are very similar to who I am to help them out so they can navigate this because if they just receive money they're likely to blow it they're likely to lose it if we look at the book The Millionaire Next Door that book talks about if you're frugal enough and and frugal is a nice word you know there's a difference between being frugal and being cheap like frugal is what they say to your face cheap is behind your back you know people that are cheap have deep t deep pockets but short arms you know those people when the bill comes they always seem to be gone and you always tend to pay for it so yeah they have a lot of money but it's kind of like being a miserable millionaire what they don't talk about in that book and what I would urge someone to write maybe Michael and I will have to write it or maybe Matt and I will write it or whatever it is is what happens to the heirs of the millionaire next door cuz I've seen it they drop out of school when the money comes in they didn't know their family had the wealth it wasn't talked about at the dinner table there was no family retreat structure they don't have they're kind of do-it-yourselfers they don't have like a a family office that's helping them out or financial people because that would cost money and all they do is save they pinch pennies so hard they have blisters on their fingers and so yes they might be worth millions of dollars but they live like poppers and so there's a better methodology where you can have a better life along the way where you can live wealthy see Benjamin Franklin said "Wealth isn't just the man that has it but the man that lives it." We believe heavily in life design family retreat is so instrumental in creating that life design so the Rockefellers they learned how to preserve protect and perpetuate wealth the Vanderbilts learned how to divide distribute and destroy most estate plans that I look at and that Michael look at have the same issue and the same problem they say "When this kid turns 30 they get a third of the money when they turn 35 they get another third and when they're 40 they get another third doesn't matter if they're in the middle of addiction in the middle of a divorce or if they're in the middle of figuring out what their career is they just get the money and that money might come at the very worst time it comes at a time where it's just going to slip through their fingers and it's going to spoil them and you get an entitled trust fund baby that's not what is happening here we're talking about a completely different methodology and it matters because I don't think you get a second chance to build a life that you love and a legacy that lasts traditional methods of accumulation they're built upon a faulty foundation of risk through just setting money aside and forgetting it not having the conversations with the family not learning how to create cash flow not learning to mitigate risk not figuring out how to in invest in their heirs so that they could be prepared for what's to come i tell my kids you're not going to get money you're not going to get an inheritance you're going to have opportunity and if you choose to do things that are healthy for you and that you're in the world of value creation we have accelerance for you we have an incentive based trust you can read certain books and we'll give you money because we want you to learn you can go out there and find your passion in a career that aligns with that we're help we're happy to help fund that to a certain degree but never fully so what most people are taught in the world of finance is to buy term and invest the difference and look I get why that's a popular methodology when we don't have a lot of cash term insurance can look very inexpensive today and so yeah we pay less for the insurance and we can invest the difference that's great but what if those investments do really well and hopefully they do what happens is now when people get to their older years they meet with an attorney and the attorney says "Great job you've had an amazing life you've made so much money you have an estate tax problem we're now going to have you buy permanent insurance." So they dropped the term insurance because if you buy a term policy today and you live the life expectancy Michael if they pay their premium from now until life expectancy they'll pay more in premium than the actual death benefit exactly only 1.1% of term policies ever pay a claim so term has its place as a stop gap to get you the proper amount of insurance especially when it's convertible with a mutual company but if we think it's a replacement one thing I want to be clear about the insurance on the Rockflar method is not your investment it's an asset allocation choice to replace money markets bonds and other fixed income investments because now when interest rates fluctuate you've preserved your capital if anyone had bonds in 2022 they felt the pain of their bond values lowering interest rates went up the bond values went down but guess what people that had insurance once a dividend is paid it's then guaranteed so when we have all this volatility in the market there's no volat volatility because your dividend becomes guaranteed once paid and so I don't want you to be in a situation where someone tells you to self-insure because self insurance actually means no insurance at all and it's the most expensive way to ensure because you have to lock your money away spending at least $1 for every dollar of coverage let me go in a little bit depth here and maybe I could draw it up depending on if others of you are ghost drawing with me or not and trying to support my sloppy handwriting it could be that's what it is but the the the thing is imagine that you have a home and you've paid off your mortgage awesome that's great news no mortgage on the home but that means you don't have to have insurance but you may choose to have insurance because if you have this home that's now paid off this is a beautiful home it's very modern as you can see and welldesigned but if you have no mortgage on it you might be able to drop your insurance well that insurance might cost you $2,000 a year for this million-doll home awesome you've now saved $2,000 but what you're now required to do is you got to have a million dollars tied up somewhere in case something happens to replace this and we've seen some pretty terrible situations whether it was in the Carolinas with the major floods and issues that happened there whether it was the fires in California i mean there's been a lot of issues that way so it could you possibly earn more than $2,000 on a million dollars pretty easy in today's world right yet if you have to tie the money up it means you're using a million dollar to act as insurance i want you to use pennies on the dollar by using insurance companies to transfer that risk so you're using very small amounts of money for very big coverage instead of using all of your money as coverage meaning it's at least a dollar for every dollar of coverage you're now using pennies on the dollar that's what happens when we insure and if you have a death benefit one of the beauty one of the most beautiful things about the Rockefeller method is your death benefit can unlock assets what I mean by that is if I have a million dollars of investment somewhere and I have a million dollars of ca of of c like of so of death benefit sorry death benefit and some type of cash or investment this means I can spend more of this knowing it's going to be replaced that could be as simple as doing a reverse mortgage if you have a home the death benefit then repay it off it could be as simple as and fun as doing a charitable trust which we talk about more in the Rockefeller book because you could donate an asset that's highly appreciated capital gain asset like a business a piece of real estate or a stock get a small tax deduction on the donation sell it pay no tax zero tax on that have more income because you're the first beneficiary of it and when you die the charity keeps whatever's left over but your death benefit replaces it to your family and your heirs so this almost acts like a permission slip to have 20 30 40% more cash flow with other assets another big thing is a problem in in the future is something called disinvesting a lot of people are taught to accumulate money but the problem with that accumulation is they don't have a plan to create cash flow with it and if you keep it invested in something volatile like the market I won't uh volatile i I I I lost the spelling on that but if there's a bunch of volatility one of the things that can happen is if that market's going up and down and you take 10% out you now have less money to earn so even if it makes 10% it's 10% on lower amount of money so the disinvesting rules are if you take more than 4% out you run the risk of running out of cash but imagine if just for one or two years you could use your cash value which is fully stable what it says is you could take 33% more you could take 30 you could take 6 12% out of those variable accounts if there's a year or two where you have stable money so I know that's a lot that I'm covering right here and maybe you be like Garrett what the hell are you talking about what I'm talking about is more freedom more options and a way to replenish money in the future even if there's high inflation even if there's high taxes even if there's variable interest rates it protects your family so the thing I want to mention is self- insurance means no insurance and it's the most expensive way to ensure it locks your money away and you spend at least $1 for $1 of coverage and the volatility of the market crushes cash flow and it can destroy estates and legacy when they're in the distribution phase so we watch this with the rise and falls of pensions so Michael if you have anything to say there feel free i'm going to talk about pensions here and this is I this is where I geek out and get really excited yeah Garrett what the life insurance death benefit when we are in the income producing years of our life we leverage it and view it mentally as a replacement of our income to beneficiaries but when we move from the accumulation phase of life of acquiring assets working building our business to the distribution phase of our life we can now view and leverage a permanent whole life insurance death benefit as asset insurance so it's income replacement while we're producing an income for family for heirs for beneficiaries and later in life we can leverage it like Garrett talked about reverse mortgage and charitable remainder trust pension max all these other areas volatility fund we can leverage that death benefit as asset insurance and I I do this every day right i do the math i work with clients one-on-one on a daily basis and it's possible to take what you're currently doing with your cash and allow you to restructure some of that term insurance to whole life insurance increase your wealth like Garrett said by 20 30 40% of net spendable during retirement and to be able to leave that behind also at the same time and if that's true wouldn't you want to know how that's possible for what you currently have going on financially and I'm going to show this with a very specific example here Michael so there's something called non-qualified deferred compensation i'm going to go back in time i'm going to go back to 1947 just for a minute ge decided that they wanted to recruit the very best executives in the world so they could become number one or number two in every category the way they did that is they had to go out there and figure out um Can you see what I'm drawing or is it going way down below looks like it's going down below right yeah okay so we'll we'll forget about this whiteboard that I keep uh you know drawing just for myself and we'll just talk about this in a big picture to recruit that they had to offer something to these executives to come work for them so what they said was we're going to go ahead and give you a pension so if you come work for us for at least 7 years we're going to offer you a pension now how did they fund the pension they bought whole life insurance on that executive corporateowned life insurance it was an executive uh pay plan and so they would use the cash value to supplement that pension but when that individual died they would get a tax-free amount of money back to the company giving them a positive rate of return and they did this for decades and it worked so effectively and then Wall Street came and they said "You know what that's so crazy why would you go with life insurance it doesn't get that high of a return the market's crushing it it's the '9s." So they abandoned the plans and they went with the market they said "Look if you only take 6% to pay the pension take the override let's say the market does 10 or 12% you guys are going to have extra money for the company." Well that disinvesting problem when the market went down in 2020 2001 and 2002 they started to destroy the pension money and we saw so many of the companies go bankrupt on their pensions in 2019 GE got they had to completely get rid of part of their pensions and they had to deeply discount the other pensions because they abandoned this plan because of that volatility so the death benefit creates stability they used the Rockefeller plan as a corporation they knew the corporation would be around longer than the executives they used the death benefit to replenish what they paid plus a positive return they use the cash value to supplement the cash to the individual during their pension years during their retirement years so that's the Rockefeller method in corporations what do we do for the Rockefeller method for individuals i own policies on me on my wife and on my kids michael do you have policies on your grandkids we do on our grandson and here in about 30 days we will on our granddaughter absolutely so what that does is it keeps death benefits to replenish the trust from generation to generation to generation now I like to leave my cash value alone unless there's an extraordinary opportunity that I know I can do better i don't ever take it and speculate and put it in something I don't know if it's going to work i don't go to try to get a 10% return because by the time I get my tax advantage and everything and value my time I just leave it in cash and what I do know is over any 30-year period of time cash value in mutual life insurance companies has outperformed the bond market so what that means is you get this death benefit that comes along for the ride and that death benefit helps you to enjoy your other assets to a higher degree michael mentioned pension maximization my dad did this my dad was a coal miner he had a pension when he went to retire they said "You know what you get six options option one we'll pay you the highest monthly cash flow option two we'll pay you less but if you die we'll still pay your wife while she's alive option three we'll guarantee how long we pay your wife." you know um so even if she dies your kids will get some money option six so all the way down to 50% i said "Dad take the maximum because we don't know if you're going to die before mom." She had a kidney transplant what we do know is the death benefit is going to come in guaranteed and tax-free which gives him an ability to take 20% more cash flow than the option he was going to choose it coordinated and became a permission slip to have more cash i know people that have donated their assets to charitable trusts knowing that when they die the charity plans on keeping at least 10% of the donation but the death benefit will replenish that donation which means they get the full amount invested instead of after tax amount and they get a tax advantage again I'm giving you a lot of information at once we have this all in the system to kind of go in a little bit slower pace but what I'm trying to teach is it's not a onedimensional asset there's cash and cash value but there's death benefit and the death benefit is like buying future net worth that it unlocks your other assets so we don't just look at hey if you have investments in other things that's amazing that's great especially if it's aligned with your investor DNA the more you have the better this is one allocation for your money towards the Rockefeller method that is your safe and stable asset i remember one of the first policies that I sold was to a man that managed $5 billion in municipal bond assets municipal bonds that's a bond portfolio he managed $5 billion he was number one in every category he was the best in the world at managing bonds he was my professor and I said "Hey have you ever thought about not having capital depreciation risk?" Because once the dividend's paid it's guaranteed and what's the value of a death benefit for you you can get rid of your term insurance which is going to save you money you're not going to pay tax on that cash value just like a municipal bond but guess what when we look at the dividend history the dividends have been higher than the municipal bonds and then he started putting six figures towards this because it made sense to him even though he was a genius when it came to financial markets so really corporations used the Rockefeller method individuals have used the Rockefeller method ge did so well with this for so long that from 1947 for decades it was called the supplemental pension plan or executive retirement plan it was designed to provide pension benefits that exceeded the the limits set by qualified pension plans and qualified ones are the ones like 401ks and IAS so they could put more into these plans and then they could use it for their highly compensated employees as they didn't have contribution limits and there was no discrimination requirements about how much they could apply to their other plans right so G employees like you know other large corporations they had stable and predictable retirement benefits from these defined benefit pension plans and those pensions were valued for providing guaranteed income streams after retirement based on factors like how long they worked for them and what their salary history was however when they abandoned these plans and went for risk that's when pension freezes happened in 2019 GE froze its pension plan for 20,000 salaried employees and it supplementary pension benefits for 700 employees that freeze meant it infected employees so they could couldn't earn some or all their pension benefits moving forward and that's when we saw this big uh you know shift where other rise of retirement plans happened because now companies didn't have to be responsible but ultimately it was problematic that people took a a modified lump sum buyout they had to go to put money in a 401k in later years but they didn't have as much time for it to grow so we just saw those trends and so I want to share this because it really is kind of like a Rockefeller versus a Vanderbilt story the Rockefellers look at ways to handle tax to protect themselves against interest rate fluctuations and inflation fluctuations they put policies on their bread winner to fund the family trust they earn interest they charge preferred rates to their heirs when they want money they avoid jumping through bank hoops i met this guy and he said that he was a real estate investor but one of the deals when he was early on in real estate investing the best deal he ever found he wasn't able to get because someone else was able to close in 5 days and so he decided to meet with them and said "Would you please tell me how you did this?" And they said "Well my grandfather started a whole life policy when he was young and we have $40 million of cash inside of there now and we use it to acquire real estate." And the guy decided you know what i'm going to start teaching people how to do that and left becoming a real estate investor to start teaching that methodology so I think that's pretty interesting now realize your cash value can be used as an opportunity fund along the way you can borrow to avoid tax it's also what's called FIFO first in first out and you have withdraw options cuz some people online say "Garrett why would I borrow my own money?" Well you're not borrowing your own money your money stays in the account earning interest or dividends and then they use it as collateral and lend you their money the insurance company which means you don't pay tax you have a lot of people complain about Jeff Bezos doesn't pay income tax warren Buffett has a lower tax bracket than his assistant that's because when you borrow against assets the loan isn't taxable but the nice thing about this loan is it doesn't impact your credit if you don't pay it back they'll subtract it from your death benefit so you don't have to make recurring payments on any specific schedule you don't have to have a credit score to get to it and if you don't want to borrow you can take withdrawals at FIFO which means the first dollars you put into the plan are the first dollars you can take out of the plan tax-free you don't have to pay tax until you've got all of the principle that you put in and then you pay tax if you decide to take withdrawals instead of borrow so that's a pretty interesting thing i mean the traditional way that people do is kind of Vanderbilt you know millionaire next door don't talk about money spend money and create entitlement that's what a lot of people fear the proven method is Rockefeller it's required for success it gives you guarantees gives you more choices in the future gives you tax benefits it also gives you living benefits with the death benefit and access to money along the way so let me pause real quick and just say this is the one takeaway I want to highlight this one thing tonight if you remember this there's only one thing you take away from this master class it's this the cash value is only part of the value it's only part of the plan i mentioned it outpours it outperforms bonds at any 30-year period of time it doesn't have capital depreciation meaning if interest rates change you have locked it in and have a minimum interest rate that's guaranteed it does give you tax advantages but this is what's most important you can buy future net worth and then focus on cash flow yes consider how much it would take to save $10 million how much risk would it take how much task how much volatility tasks yeah let me How much tax how much volatility how much time you can control that asset in the form of a death benefit from day one that can help you unlock other assets to increase cash flow as I mentioned 20 30 40% it's about having more options in the future ways to handle market fluctuations control over your funds risk management and risk mitigation and ways to unlock lazy assets you know non-cash flowing assets like a paid off home that's a lazy asset it's not creating cash flow but the death benefit might unlock that being able to spend down your money knowing there's a way to replenish it with the death benefit that's the takeaway we want your dollar to do more than one thing we want you to have more options more choices and less risk you can and you deserve a life you love and a legacy that lasts so the next section is about finding money to fund your Rockefeller method plan i don't want to ask you to cut back i'm not going to ask you to budget or miss out on memories along the way this is about the four eyes to efficiency irs interest investments and insurance the big four this is where 10% or more of most people's income is slipping through the cracks this is money that's rightfully yours money that with just a little financial savvy ends up in your cash value gives you control of a death benefit and it can help you reduce risk and eliminate market exposure now Michael I don't know if you want to share any calculators or anything here or just you know chime in i'm gonna pause and take a drink since apparently I have cotton mouth i didn't smoke weed but I have cotton mouth i don't know what's going on here i'm just excited i talk too fast that's what it is and and smoke weed just came to your mind huh well I think that's what creates cotton mouth i don't know i don't smoke it i don't I look like it with his hair but I don't garrett I'll just add to what you're saying and and yeah I I mean I'm chomping at the bit to show some calculators for sure but this is a tool Garrett spending so much time talking about this tool called whole life insurance and it's not just whole life insurance that maybe we've heard about in the past or Dave Ramsey's talked about it's whole life insurance and we're very careful at putting these words in this last edition of what what would the Rockefellers do that's properly structured and optimally funded because it's a tool for each one of us to leverage in our lives with all the other money decisions that we're making and Jeremy asked well you know what's the what's the recommended certain percentage of your income to put towards whole life insurance it depends depends on everything else that you have going on financially it depends on where you're saving money right now that's one distinction that I'll make is this tool whole life insurance is a savings vehicle it's not an investment they have two totally different characteristics and as you uh if if you have what would the Rockefellers do and you guys heard my personal story in the beginning one of those life lessons for me now one of the many that I've extracted that first one I talked about the property value and the human life value balance sheet that has to do with you being the number one asset people you the individual are the asset this home that I'm in the office that Garrett's in the home that he's in the home that you're sitting in has no value whatsoever until you or another human gives it value so people are the true assets and and and and property value that's just a tool that's a thing this whole life insurance policy and the structure of it that Garrett's talking about that's a tool for us to le leverage in our life so when it comes to investing there's two main characteristics when I'm talking about investments and savings vehicles we want you to invest but we don't want you to gamble and the distinction is if you're investing somewhere you're maintaining control you have knowledge experience and expertise maybe some purpose and passion in that area and that's what we would consider a true investment and let's be clear you're going to take risk it's a basic need that you will fulfill in your life fulfill uncertainty variety risk it's a basic need that you will fulfill so be conscious of where you're taking that risk are you taking risk in an area where you're relinquishing control and you have no knowledge no experience no expertise that's gambling i gambled and I lost and I almost took my life over it we want you to invest we don't want you to gamble so that's number one strategy one of the lessons that I that I extracted one of the top three is where to invest and to make sure I'm not gambling in the future and then this tool of whole life insurance is what I call number one strategy if you're going to relinquish control of cash keep it guaranteed protected and liquid gpl so Jeremy in answer to your question it depends when I answered you back in the chat it depends i want you to invest in yourself garrett does also increase your human life value your mental capital right there's good investments or there's good investors not good investments and then are you investing in your career are you investing in your business as the second alternative and then cash that you relinquish control of keep it guaranteed protected and liquid that's one of the main reasons why we use whole life insurance garrett just went off on all these different ways that we can leverage whole life insurance but at the core of it also not be and it's also part of the Rockefeller method why we're talking about it but at the core in your overall financial strategies and plan whole life insurance is this tool that protects your courage and confidence it g because of the underlying guarantees of it being a savings vehicle it not only allows you to enjoy life at a higher level but it allows you to produce at a higher level in your career and in your business and nothing will outperform that so Garrett's talked about all these ways we can leverage it you want me to go into some calculators now Garrett or wait do it man that's perfect good timing and then I'll dive into the four eyes after that because it's about how do we find the money to fund this plan without having to like cut back so thank you Michael yeah and I've got the trusty whiteboard that does not allow any of you to draw on whether it was purposely or accidentally all right and I and I wrote a note Garrett to share this with you so I want to take you guys on a little journey go back i can easily remember the 1980s i was born in 1971 and I rock I did have hair back in the 1980s and rocked out to big hair bands in the 1980s if you think back in the 1980s and and this is in our book What would the Rockefellers do i give this example and I want every client that I meet with and I want all of you that are listening to this and reading our book what would the Rockefellers do to understand the difference in interest rates most of the bankers don't even understand this difference and distinction in interest rates but in the 1980s you could put money into a CD or a money market raise your hand if you remember this put your hand to the camera if you remember this in the 1980s you could put money into a CD or a money market and earn 9% 9% yeah Pam 9% but if you went to go get a mortgage so so imagine for just a moment here in southern Utah there's a bank called Zans's Bank right that's fitting for Utah zans's Bank on the front of the building in the 1980s there's a big billboard or a big poster that said "Bring us your money we'll pay you 9% but if you walked around to the side of the bank the mortgage department they said "Bring us the deed to your home." The average mortgage interest rate was 15% who remembers this 1980s interest rate 15 16 19% on a mortgage right so the difference between 9 and 15 is this 6% spread right and you heard Garrett and I if you've read what would rock fillers do we're talking about the spread between interest rates that difference between 9 to5 is a 6% spread but it represented a 66% profit for the banks in the 1980s if we could buy this pen right here that I'm using to draw or that I'll use to draw on my whiteboard for $9 and we retailed it for $15 we made a 66% profit that's the true rate of return on banks in the 1980s well what happened in the 1990s in the 1990s they lowered interest rates on CDs and money markets to 3% and the average mortgage rate was nine it's still the same 6% spread my wife Wendy and I got married December of 1993 and we got our first mortgage January of 1994 as an FHA loan and it was 8.75 and we thought we were getting a smoking rate at the time so the difference between three and nine is the same 6% spread but it now represented a 200% profit for the banks who wants to earn 200% on their cash who wants to learn how to be their own bank with their money right this is why this tool of whole life insurance and why Garrett's talking about it so much and why we this is one of the ways to leverage it on the cash value there's the death benefit too with the with the Rockefeller side of the planning can Can you guys still see my screen raise your hand if you can see still see my screen okay great all right let's bring up the third calculator and here's what's going on today i picked 0.25 i know there's high high yield savings accounts right now that are high interest savings account that are paying four or 5% we're going to talk about that in just a moment but if you look at a checking account or or a lower uh uh dollar amount in a savings account maybe 0.25 some people are getting like 0.1 some people don't even know what they're getting in their savings or checking account but 0.25 to 6% is 2300% difference just like this crazy number 2,300% difference between 0.25 and 6% so let's change that to 4% maybe you're getting 4% on a on your high yield savings account the difference between four and six is 50% you're not earning 50% on your managed money in your 401k right now are you no and if you've had money in the market the last few weeks you're riding this roller coaster ride holding on for dear life relinquishing control of your cash in an area where you have no knowledge no experience no expertise unless you're an expert at managing that money yourself garrett I'm going to give this one last uh example and I had a client uh uh or a new client that I met with today and he wanted to understand how taking a policy loan and I give this example in doing the math and what would Rockefellers do but if if if you're able to take a policy loan with one of these whole life insurance policies at 5.3% and you have an auto loan that's 8% this gentleman today has an auto loan at 8% 8.6% 6% we'll call it 8% we'll round it down if he has money in the cash value of a whole life insurance policy the life insurance company will lend him their cash and put a lean against the cash value he doesn't break the growth curve of that money in the policy but they're going to charge him 5.3% to lend him their money but that difference between 5.3 and 8% is a 50% difference he can hold on to 50% of his money by taking a policy loan and using his cash value as collateral for future money decisions that he's going to make anyway we all buy auto loans we all if we own our own business we're buying equipment we're making some purchases when Garrett and I wrote uh what would the Rock Fillers do we had to buy so many tens of thousands of copies that was you know 50 to $75,000 out of pocket to do that and if I didn't have the cash sitting there I could take a policy loan and leverage that and utilize it to be my own bank with my own cash and there's a lot of misinformation out in the marketplace today on being your own bank and paying yourself the interest if this money is costing you 5.3% to borrow from the life insurance company and you're paying it back at 5.3% you're paying that back to the life insurance company not yourself but if you're paying it back at 8% you can pay that difference between 5.3 and 8 that's the spread between 5.3 and 8% you can take that 2.7% and pay that back into your policy and create that 50% gain by holding on to more of that money our son did it with an auto loan i give the example in the book What would the Rockefellers do my wife and I bought our dream cabin a year ago and instead of taking out a second mortgage or or taking out a mortgage uh for a second home on a cabin we did a big fat policy loan and we're paying because mortgage loans on a second home a year ago were 7.2 7.3% we could take a policy loan at five and pay that difference back to oursel and hold on to 40 or 50% more cash for a money decision that we were going to make anyway there's money decisions that you're all making right now today there's money decisions that you're going to continue to make tomorrow and into the future and why not have a tool called whole life insurance that allows you to hold on to more of that cash and because you're holding on to more of that cash that creates a very high rate of return all right Garrett thanks for letting me share some calculators love it thanks for sharing i love seeing you know some of those practical applications so that people can get a sense of this um and it's sparked some questions we'll be happy to answer those at the end for sure so um keep putting those in the chat i'm responding a little bit michael's responding a little bit as we go through but let's get to finding money like finding money that's rightfully yours the four eyes to efficiency so we've got IRS is the first eye interest is the second eye investments are the third eye and insurance is the fourth eye let's start with the IRS most people unintentionally tip the government so I'm going to give you a framework and this framework is going to help you put more money back into your pocket so the framework looks like this if you just draw two vertical lines you've got three buckets you've got the team in bucket number one deductions in bucket number two and classification in bucket three or reclassification which is how you take your income so in in the first bucket the team is you just have to have timely data that's the first person of the team bookkeeper there's great AI tools for this now there's good bookkeeping services it doesn't even have to be full-time but if you don't have timely data a lot of people don't have that data and then they gather it you know in 2026 for 2025's tax year and they overpay tax and then everything's about deferring tax not saving tax deferring and saving are two different things one says you don't have to the other says you don't have to right now cuz who wants to wait till they're older and crankier to finally pay their taxes you know I mean that's unfortunately a lot of people are delaying taxes so the second thing is a tax strategist on the team a tax strategist helps you with bucket number two your deductions a lot of tax professionals are historians telling you what to pay after you've earned a tax strategist proactively navigates to maximize your tax deductions i'll get into more detail the third one is an attorney if you're a business owner under a million dollars of revenue that's a corporate attorney to choose the right corporations if you're over a million it's a tax attorney to focus on the third bucket which is reclassification and for those of you that own your own commercial building or invest in commercial real estate the fourth person on the team might be an engineer specifically a cost segregation engineer which allows you to accelerate depreciation so you get your deductions faster on your real estate so that's bucket number one bucket number two deductions if especially if you're a business owner now if you're a highly compensated executive that's W2 there are certain credits that you can get to lower your tax bracket but for the most part you know the biggest tax advantages are for business owners so it just kind of depends on what you're dealing with now if you're a business owner this could be a side hustle it could be a full business it could be your real estate investor if you spend more than 750 hours a year on real estate as your primary function or if your spouse does you get a real estate professional designation which allows you a major tax advantage one of the biggest tax loopholes out there but the first thing is a business owner say "Does this relate to my business when I spend?" If you're certain it does you make sure to take the deduction if you're uncertain you make sure to meet with your team every quarter to ask "Could this be deducted?" Let me give you examples you're taking a trip you want to write it off well you might do your corporate compliance meetings on that trip and now part of that trip is a write-off because you have to have corporate compliance meetings or you know it just might be like you have a home office and so you can write off a percentage of that home office against what the overall square footage is including all of the uh utilities and things like that there's also 132J i can write off my pool maintenance my cold plunge hot tub gym as long as I make it available to my my employees which I have a company that just employs my kids which takes me the next thing i could pay my kids up to $14,000 a year if they're under 18 18 or under that's taxdeductible to me tax-free to them but it's still even tax advantage to my 19-year-old that I pay to film and edit videos because it's his tax bracket versus my tax bracket um the the next piece here would be 199A if you're a business owner that has W2 employees you can get a qualified business deduction lowering your tax rate i went from 37 12 to 29% hey we just saw the Masters there's the Augusta rule you can rent out your home up to 14 days a year if you're not a business owner you can rent it out on Airbnb take that as taxfree income for 14 days if you're a business owner you can rent it out to your business deducting it for the business maybe it's a team retreat or an employee retreat or filming or something like that that's a full deduction you don't have to claim personally there's so many tax deductions you just go down the list and by the way at the course I talk about the end we have an amazing tool and a lot of you when you registered you got the tax navigator that's an amazing checklist for this let's go to the third category reclassification of income is where most people are overpaying tax there's four main ways number one if you can turn active income into passive income you might be able to avoid 3.2 to 15.3% tax which is a self-employment tax fafuda number two ordinary income to capital gains you know if you do business internationally you can set up an international sales corp and take every dollar capital gains internationally it comes back to the United States there's other things I I don't want to get into a lot of detail there's the thing called 831B you put money in pre-tax when you take it out it's capital gains number three is tax-free we talked about charitable trust one of the greatest things is if you're charitable in nature you can donate assets to a charitable trust that's a small tax deduction when you sell it there's no tax on it whatsoever and you get an income between 5 and 50% depending on the underlying asset from that investment so that's really awesome as a charitable trust and your death benefit could replace that effectively letting you give your money away spend more money because of it and replenish it for future generations with the Rockefeller method there's also if you're a Ccorporation something called 122 which allows you to sell for up to $10 million taxfree um for each partner the fourth one is tax arbitrage i actually am in the middle of a tax arbitrage strategy right now i bought a bunch of art i had to get claim of it really uh quickly because April 15th came and we're going to be decorating our house with this art but we bought collections at a deep discount it's basically worth $450,000 i bought it for $150,000 after owning it for 3 years I can donate it getting a full $450,000 tax deduction on something I paid or I only paid 75 grand for which means for every dollar I spend I'm getting $2 back that's tax arbitrage most people let the tax tail wag the dog they spend a dollar to save 37 that doesn't make sense if you're going to spend a dollar make sure you get more than a dollar back so look I know I just fire hosed you with tax strategy that's why the tax navigator was available for everybody that's why we have the course to kind of support but I'm giving you the overview so hopefully you go "Oh I'm not doing a few of those things." And now you know so you can put more money in your pocket let's talk about the second eye the second I is interest and there's three Rs that can help you to reduce your interest the first R is to restructure the second R is to renegotiate and the third R is to reallocate so just imagine I had a friend his name's Michael not this Michael Ice some another friend Michael who was complaining about his 6 and a half% interest rate on his business loan well at the time he had a 3% certificate of deposit and I said why don't you cash that out and pay that off he said "Well there's a penalty." I said "Well let's find out the penalty." And guess what Michael it was at Zion's Bank so we said in a little chat "What's the penalty?" They said "You forfeit 3 months interest if you cash this out early." Well guess what we were going to save 6 and a half% we're only earning 3% so it was less than a month and a half where we got all the money back for cashing it out and freeing that up and freeing up his mind so that's reallocation renegotiation is if you have a good credit score if you have a good collateral if you have good cash flow reporting or even the right connections those four C's are instrumental to be able to negotiate better interest rates i learned this when I moved the first time cuz I called to cancel my cable and different utilities and they said "Well what if we lowered the payment on your cable and I negotiated all the way down to $70." And I was like "Huh I'm just moving so you just transfer it to this other address." I'm like "I wonder what would happen if I called the credit card company and said "I'm going to cancel i'm going to do a balance transfer." They immediately move me to the retention department and I got a lower interest rate so that's an example of negotiation and then restructuring there's people right here on this call tonight on this master class that have a paid off car but a high interest rate credit card you could refinance a paidoff car much lower interest rate an installment loan that helps your credit score and pay off a higher interest rate credit card or you might get a line of credit on your home a line of credit because there's collateral and it might be taxdeductible could pay off higher interest rate loans that's what I mean by restructuring so restructure renegotiate reallocate are the three Rs and look I'm telling you like we've had so many people go through that process and shave off a third of the time it takes to pay off things the third eye is investing investing we want to look are there non-performing fees 12b1 fees expense ratios that aren't worth it have you protected the downside so that you know if there's if it dips too much at what point would you automatically want to transfer to cash like that's not for everybody but that's a trailing stop loss ultimately small percentages have big consequences if I have a 100 grand I invest it for 30 years at 10% it grows to 1.74 million 1.74 million if I only get 9.2% it grows to 1.4 million which means yes there's compound interest but there's also compounding costs so if we can remove legal fees admin fees different fees even on a a 401k or an IRA that we have a better custodian that is a a flat fee or we reduce some of the fees that we're paying for things that aren't actually performing you can get your dollars to go further the fourth eye is insurance here's the key only insure the catastrophic not the inconsequential catastrophic would be derailing it would harm your legacy so an umbrella policy helps with the catastrophic that's an excess liability that sits on top of your car and your home but why have a $100 deductible or $250 deductible because just cover those out of your pocket if you make a claim they're going to raise your rates anyway so save it for something catastrophic the first dollar you pay for insurance is the most expensive dollar the last dollar is the least expensive that's the catastrophic so yes self-insure things that you could pay for and go to sleep at night and not worry about it and ensure the things that would be catastrophic and that would destroy your finances or your life that simple thing might mean like we've had people that raise their deductibles i was just in Malachi with some clients and uh you know when I first met with them I was like you guys are wealthy why do you have a $250 deductible on your car and your home why don't we move that to $1,500 i'm like why don't you have an umbrella policy you have million-dollar li limit of liability on your car and on your multiple homes so by raising the deductible to 1500 and adding an umbrella policy we added $9 million of catastrophic coverage and we saved them $250 a year by simply increasing the risk $1,250 in an increased deductible so same company same policies redesign more money in their pocket but transferring risk right that's the key here so these four eyes to efficiency IRS interest investments and insurance this is where a lot of people are losing money it's slipping through the cracks and if we could plug those leaks that can help fund your Rockefeller method plan that could help be part of your cash value that's the key so there might be some questions that that come from all that and everything I'm talking about there but I think that it's just helpful to know you don't have to budget your life away i believe in mindful cash management pay yourself first plug the leaks to help you get there and automatically save then deliberately invest get a little bit of savings in a bank a lot in your cash value and then allocate towards investments aligned with your investor DNA are you good at real estate maybe that's a good investment for you maybe it's not are you good at business are you good at intellectual property are you good at stocks start focusing and protect a lot of people diversify by spreading themselves thin into things they don't understand they diversify not knowing if it's going to work or not so I'm here to say like how can we create more economic certainty to create more peace of mind because you're your greatest asset not a stock bond or piece of real estate how can you become more productive how can you invest in your human life value so you can produce more add more value and capture that value in your Rockefeller method plan that's the key you know uh Michael anything you'd want to add to that i I went fairly fast there and respect for people's time tonight no that's great Garrett yeah I really like that a lot so let's talk about how to set up a Rockefeller method plan in 30 days or less michael can help describe like what's the process for someone applying for insurance and how do insurance companies determine how much someone could get or what type to have give us a little bit of a overview of that yeah Garrett I just pulled off of uh the shelf here a few minutes ago a book called The Economics of Life Insurance written by Solomon Hunner in the 1950s i used to say this uh I'll admit it uh years ago and hand to the camera if any of you have ever said this i'm overinsured anyone else ever said this nicole Kim yeah you you're shaking your head yep yeah I've said that before i'm overinsured it's not possible it's not possible to be overinsured if you own a million-doll home they'll insure it for a million dollar they won't insure it for 2 million there'd be more homes being burnt down if you own a $40,000 car they'll insure it for $40,000 but what about a human life how do they assess the value of a human life and Solivan Huner all insurance companies use this as a rulebook and it was written in the 1950s if you're in your uh uh 20s or 30s most major life insurance companies will consider insuring you for up to 30 times your annual income 30 times your annual income if you're in your 40s early 50s right in there around 20 times your annual income i'm 53 if I'm making a $100,000 a year and they use a 5% multiple at that uh 20% if I'm making a h 100 grand a year it would take $2 million at 5% to replace $100,000 a year of income for my family if that's you that would be the potential amount that would be the maximum amount that an insurance company would consider insuring you for they wouldn't allow someone making 100 grand a year that's uh 53 years old to go out and buy $5 million of death benefit they wouldn't allow it you have to go through an underwriting process submit an application sometimes submit taxes and verification and different things like that to be able to qualify for it and think think about this for just a moment i've written white papers on this we included some of this in the book What Would the Rockefellers Do life insurance companies mutual life insurance companies we differentiate between stock and mutual but mutual life insurance companies in America are some of the safest financial institutions that we have and I've heard I've seen people in the chat talk about Dave Ramsey and different things why Garrett and I talk about Dave Ramsey and Suzie Orman is because they talk about buy term and invest the difference if all of us together owned a life insurance company we would want to hire spokespeople like Susie Orman and Dave Ramsey to sell our agenda which is to sell a boatload of term insurance because you have to be insurable to buy life insurance and if you buy a term insurance policy which we sell them I own term insurance on my life because my cash flow only allows for so much whole life insurance so I make up the difference in term insurance because I want more death benefit there's many other reasons why but I'll keep this a little bit simplistic for now but if we're a life insurance company we want to sell a lot of term insurance because less than 1% of any term insurance policy ever pays out because you have to be insurable to be able to purchase it they don't insure unhealthy people if you're unhealthy and you can't qualify for life insurance because you have a a DUI on your record or you've been to rehab for drugs and alcohol uh recently if it's nine years or longer and you have a clean health record since then then potentially but if you have cancer or something lifethreatening they're not going to insure you so Garrett we take an application it's done electronically now i did you know Garrett and I said we've been doing this since la late 1999 used to be all paper apps but now it's all done electronically we submit an application we take a look at everything that you have going on financially they don't let you buy more than you can qualify for based on your human life value and that's a multiple of your income that can be a multiple of your assets if you're older than 55 you're in your 60s7s it could be one times your net worth yep i've got a couple of people in underwriting right now that are 72 73 years old if they're insurable we the insurance company will consider up to one times their net worth in the form of a death benefit so if they have a $10 million net worth and they're 70 years old they'll consider insuring them for $10 million of death benefit so there's an application process but there's a due diligence process and and we want to make sure that it actually works with everything else that you have going on financially so we'll take a look at assets liabilities income your health your driving record um and a multiple of factors like that to be able to qualify and to be even considered for one of these policies yeah if you want to see how the process works you can go to wholeifecertified.com and at wholeifecertified.com you can schedule an appointment with someone that is certified in the very process that might mean you get on Michael's calendar although his calendar is pretty full it might mean that you get on Nick's calendar that's on here um thing is it's in pretty high demand but you can go there and then you can look at this process for yourself because even inquiring doesn't commit you it gets you an actual answer from the insurance company to know what's possible for you and then Michael or another whole life certified specialist can kind of put it together for you so that's step one what Michael talked about step two is we want to determine if you want a revocable or irrevocable trust and which one's most appropriate for someone who's just starting out and doesn't have a lot of assets a revocable trust might be suffice you know you don't have estate tax implications if you haven't built a lot of assets a revocable trust is kind of very transparent while you're alive you can put stuff in it you could take it out but it's not really protecting anything until you die but when you die now there's specific things it states it might make sure that more money passes on tax-free it dictates how people get access to the money when and how how it's managed all those kind of things where an irrevocable trust is for wealthier people that's where it's own nothing control everything it has that asset protection element it's removed from the estate so it's very essential for avoiding certain taxes like estate taxes but in today's world since 2013 we can have domestic asset protection trusts here in the United States which means you get to choose your distribution trustee and they can give you access to your money while you're still alive now if they choose not to give you the money you can fire them and hire someone new again own nothing control everything removed from the estate it's something that you don't own so if someone's trying to sue you it's a layer of massive protection as well so it's having the right states for the perpetual trust inside of the course that we created we we had an attorney that did six sessions with us and in those sessions talked about which states are perpetual when it makes sense to be revokable or irrevocable how to keep this outside of your state which trustees to have for insurance investments and distribution and how to design that properly and so we just simply and elegantly walk through that but even inside of that legacy plan we want you to have a will it's a pourover document that says "Hey if I didn't put something in the trust I meant to put it in there." You want medical directives that say "Hey if something happens to me here's how I want the decisions to be made." And even powers of attorney that says "If I'm incapacitated here's someone that can sign for me so you don't have to go through the court system to run a business or something like that." And you know what probate is completely avoidable if you set up a trust you don't have to go through probate and probate is something where all of your assets become public knowledge if you want to see Prince's estate you can Google it if you want to see James James Gandalfini the actor you can Google it they didn't have trust which meant it went through public domain and if you know the the show Leonardo DiCaprio was in The Aviator is basically depicting Howard Hughes howard Hughes died without a trust and he wasn't married it took over 20 years to distribute those assets going through the court system requiring millions upon millions and millions of dollars so having these kind of things as a gift of love and preparation for your family and using the family you know legacy rings as kind of the guide becomes instrumental at making sure it's a document that matters to future generations not just from tax efficiency and asset protection but really who you are and what you stand for so there's a few things that we've kind of mentioned briefly but maybe Michael can demonstrate a little bit more deeply which is the benefits of a death benefit like how do we turn small assets in a bigger assets coordinating that death benefit to feel more like a living benefit it doesn't sound fun to me to have to die to benefit that doesn't inspire me i'm not oh that sounds cool so but if I think about using a death benefit as a way to access other assets or spend more of my money or increase cash flow Michael can you just share some of those things whether you want to draw them or talk about them you're so eloquent in this way yeah thanks Garrett well I'm in my home office uh my wife and I strategically uh plan to do a reverse mortgage on our home i shared with you that I'm 53 years old when I'm 73 years old that might scare people Michael some people might be like "What the heck?" So make sure you give a little bit more there which part Garrett just a reverse mortgage i know there's a lot of misinformation around Yeah yeah yeah yeah yeah i'm going there i'm going to talk about it so when we're 73 20 When I'm 73 20 years from now my wife and I plan on doing a reverse mortgage now reverse mortgage like Garrett's talking about can have a bad rap because my wife's girlfriend her parents did a reverse mortgage on their home without telling their kids the husband or excuse me the wife dies she did the reverse mortgage the uh the husband gets Alzheimer's and he's in his uh mid80s and so my wife's friend's married she has kids they live in Idaho and the family says "Hey can you come down and live with dad grandpa and help him?" And she was transferring down here to work and you can move into the home and live there rentree for as long as he's alive they did she they they moved down they didn't know that the mom had done the reverse mortgage before they had passed away they thought the four kids thought that they were going to get the equity in the home and they'd be able to distribute between the four kids it's not if we're going to die it's when we're going to die so be conscious of that decision of death and leveraging the death benefit this family my wife's friend did not have death benefit on the on either of the parents father has Alzheimer's daughter moves in with her family they're taking care of dad for a few years dad dies and the bank comes knocking on the door a few months later and says "Hey this is our home there's a big lean against it a mortgage in reverse that started adding up against the home you have so much time to either pay off the reverse mortgage and keep the home or we're going to take it." They didn't have the cash between the four kids so they had to scramble and sell the home so they could take whatever equity was left in the home but the bottom line is that gave mor reverse mortgages a bad rap because the family members planned on allowing this uh daughter my my wife's uh best friend to live in the home for a while and they weren't able to do that they had to scramble and sell it thank goodness they were able to but my wife Wendy and I plan on doing a reverse mortgage it's tax-free income to my wife and I because we're gonna have this big asset this home that we live in we plan on having it paid off then and we're going to do a mortgage in reverse a reverse mortgage which is money they're going to lend to us each year that acrus and the value of the home but the value of our home will go up but the reverse mortgage balance will go up also so we're gonna spend and enjoy and unlock this asset called equity in a home tax-free during the later years of our life and then when my wife and I die there's going to be death benefits from our whole life insurance policy that will go into our family trust and by then our kids will be the trustees our daughter's going to be 30 this year our son's 26 and you know God willing we live another 50 years so we're in our you know late 90s early 100s and these death benefits are going to flow into our family trust and the kids can pay off the reverse mortgage and keep the home or not they're under no obligation to do so but the bottom line is that permission slip of that death benefit that we're now viewing in the later years of our life as asset insurance you heard me talk about that before allows my wife and I to spend and enjoy more and at the same time leave it behind and I'll tell you any of you that have grandkids like there's things that shift inside you things that have shifted inside my wife and I Wendy and I we want to leave things behind not only for our kids but our also our grandkids we don't want to give them all this fish we want to teach them how to fish and give them the fish at the same time which is the property value assets and the more important human life value assets together in this Rockefeller method that we're doing our best to explain to you and why we wrote the book what would the Rockefellers do thanks Michael so appreciate you man and that's just you know the the payown strategy you could pay down your assets have it replenished the reverse mortgage the charitable trust is my favorite strategy um you know and I' I've mentioned it we could spend a whole hour just on that um I will say that you know it's a strategy I implemented with a client when I was just a kid at 20 years old and had read an article about it and I I basically said I was teaching for the first time in this group i was I was in college and they said "Hey you're really smart come speak to this agency." And I I drove up to Salt Lake from Cedar City three and a half hours i studied to the point I fell asleep in a book and I next day I went nervously and taught and I talked about charitable trust and this guy comes up he goes "Yeah my dad has a big life insurance policy i sold him he's about to sell his business maybe you can help him with a charitable trust." We go sit down in a meeting with this attorney this attorney had files all over it was a disaster of an office but he just reamed me for not knowing what I was talking about because I didn't really know that much but I called the person that wrote the article Greg Bareric who was an attorney that worked on Walt Disney's estate Frank Sinatra's estate and he loved that I was so young and I called him and he said "We can help this guy out with a charitable trust." He was able to do a charitable trust sell his $1.7 million business had a $225,000 tax deduction avoided capital gains tax and it's been a wonderful strategy for the last 20 years so that's another way that when you have a death benefit unlocks and gives you a chance for more cash flow and not disinherit your your heirs so you know it's it's pretty cool so look we've covered quite a bit tonight um it's it's been a lot of fun just talking with everybody you know we've talked about the Rockefeller method which is trusts and insurance the family legacy rings which is family office family retreat and family constitution we've talked about properly structured optimally funded whole life it's with the mutual insurance company it's where the death benefits going to be around a day longer than you it's once a dividend's paid it becomes guaranteed and that's something that you know Michael is just so expert in we've mentioned things like domestic asset protection trusts or revocable trusts it might sound like a foreign language to some but the good news is within the system that we've built we've got this challenge that can help you from day to day within 30 days to initiate this plan and get it started we've talked about how to find money to fund the Rockefeller method plan we've talked about I call the whole life certified but we created a special link just for tonight so make sure that if you want to schedule you click that link that's inside of the chat um and and you can get scheduled with one of the whole life certified experts one of the things I'm going to promise you is anyone that schedules on that link Michael and I will look at your plan someone that we've trained someone that's certified if we're not the ones working on it I don't sell insurance i don't sit down and do that that's Michael's expertise but I'd look at the overall plan we will take a look at it and you get some of our attention expertise if you do this look there's some people that might be doing more than $350,000 as an entrepreneur we can definitely add a deep dive discovery as part of this as a bonus which is I've had people ask "What about taxes?" Well we've got tax professionals we got a whole program for that in that deep dive discovery we look at your taxes we see what could be saved we do a report of findings to show you that so if you have an existing policy like I saw Jill saying "Hey I've got these policies what I do?" We can definitely review your existing policies we find a lot of people have great policies with great companies others don't and sometimes you could be with the same company who could just design it a little bit better and it's not like you have to switch other times you can roll it over and not pay any taxes on the rollover it just depends i'm always concerned when someone has certain types of policies that have increasing cost of insurance over time that can eat away or neglect or negate the guarantee of the death benefit so we can look at that and kind of let you know if that's a situation i think it's important for you no matter what that you in that you secure your insurability even if you don't have the cash flow right now you can get a term insurance policy that's convertible in the future regardless of your health as interest rates change and the market fluctuates you don't have to be in that risk and volatility you can protect your capital you can secure your future so Michael and I and our partners have created a step-by-step challenge so you can get your insurance and trust set up in 30 days this is the bigger picture this has taken us 25 years i started in 1998 michael started in 1999 and it really wasn't possible until we found our partners Matt and J to create the tools that make this so easy and affordable me creating my family constitution took me years it took so much time it went from 52 pages to 38 pages i sat down with these AI tools with one of my cash cabin immersions and we had a family constitution done in an hour i can blew my mind matt is a flipping genius when it comes to this stuff right so this is what's accessible to you you have the resources at your fingertips i had to budget to start my plan you can find money in the 30-day course and the short lessons you can have the expertise of our team to support the implementation even Michael is opening up slots in his calendar so you can talk to one of the co-authors look legacy is not something to delay or take chances with most people think of legacy as a time-consuming expensive something that they eventually want but they don't know how to get but you can have it all you can change your family's destiny you can give your family a gift of love that will benefit them for generations that love will be felt it's not just about money it's about legacy love and the responsibility we have for future generations so if not you then who look around you think of your parents your children i mean we're long-winded so maybe the kids are asleep in the rooms right now maybe they've you know grown and they're out building lives of their own maybe they haven't even been born yet but here's the truth the choices you make today echo through generations for too long we've been told to focus only right now to grind to hustle to survive and maybe Maybe just maybe in the future leave a little something behind a little something that's not legacy that's a leftover let me ask you what if you could rewrite the story what if you could be the one the first in your family's history to say "This ends with me but it also begins with me." No pain of poverty no starting over not a stress of paycheck to paycheck living no silence at the dinner table because no one ever taught us how to talk about money we're giving you the tools the questions the platforms this can end i think about the family retreat I had with my family december of 2020 we sat down at my cab and I said "You don't have to do this alone you don't have to stress and worry we can talk about hard things we can help each other out if you're worried I told my mom and dad if you're worried that I'm not being a good enough father help me tell me what you learned what do you regret what were the most important lessons what do you want to instill in me and future generations what's important to you these conversations transformed our family look this isn't about becoming a Rockefeller it's about learning from them i mean look you're not here to build wealth just for yachts or fame you're here to build systems to take care of your kids and their kids' kids the Rockefeller method is a manual for love so your family could thrive even after you're gone and you can live a better life too it's not that you need millions you just need a vision you need courage and some support you need love strong enough to say "I will learn i'm going to lead i will love my family." Not just with words but with a legacy with a constitution with a family retreat with insurance and trusts so I'm asking you now actually what I'm doing is I'm inviting you to become the architect of your family's future start the journey learn the principles build the foundation create a legacy that says we were here and we loved each other enough to change everything because the greatest act of love is preparing for a tomorrow you may never see they'll thank you for it every single day so let's begin here's how if you go to legacymethod.co co/vault and you're going to see we'll put it in the chat here legacymethod.co/vault you can start going through this and see you can get a 30-day course with focused actionoriented video lessons to fit your busy schedule it's just daily quick win exercises to build momentum and will give you immediate results ai powered family constitution builder that'll help you with your first draft in just a few minutes the Rockefeller method trust structure to protect your wealth like the billionaire families do and empower your heirs and family legacy planning templates to pass on your values and your vision not just your money a wealth capture system to automate your savings optimize your cash flow interactive workbooks that guide you through each step of implementation and access to our legacy planning specialist for tailored guidance look this is lifetime access so might need more than 30 days to build your legacy so it's right there for you and you know what if you want to upgrade there is an upgrade that you can do on there i'm just going to take a look here on the upgrade if you if you decide to go beyond the essentials and go to mastery that's where you get a private legacy strategy session one-on-one consultation to create your custom wealth plan it's where you get VIP access and direct implementation and support from our expert team it's where you get the advanced strategy sessions with Michael and I where we're interviewing the attorney so that you can actually figure out exactly what to do and you'll get access to that attorney so yeah you'll you'll pay the attorney but we've negotiated and made it efficient so it's a fraction of the cost i've seen people that have to set up domestic asset protection trusts for 20 grand we've been seeing people do it within our network for 5,500 and people can set up revocable trusts for a mere couple thousand bucks so these are the tools um this is what we're offering you know hope like we want to give you the value on the master class so that you understood but we also want to give you a way to continue and move forward so three you know it's a $300 investment for the essentials I believe am I right on that J am I right on that number you know um I would say that it's absolutely a must if you're a business owner it's actually discounted for this weekend it's down to 197 197 because we're in a big master class with a bunch of people so we we did make it $100 less just because it's very efficient to have this many people all at once and jump in so you know that's that's the deal if you feel like you're paying too much tax there's great resources in here if you if you want to get rid of loans and you have multiple loans great if you're married with kids absolutely amazing if you have significant investments obviously this will help if you're feeling like you're making a lot of money but not feeling as far as ahead as you'd like to be definitely yeah but it also is going to help the person just starting out those that don't own a business those that are single those are young or old if you're outside the United States it's not as effective it is helpful in Canada but there's a lot of things you can't do outside of the United States and Canada so if you are a sovereign citizen that doesn't file your taxes I don't know how helpful this is going to be you know if you paid off your home and you love Dave Ramsey more than you love your legacy then maybe you should just you know it's good to pay off your home but some people pay it off with Ramsay and they go I could never learn another thing for the rest of my life because I paid off my home and I'm I'm Dave's disciple he's great to get a train wreck on track but not really great with like how to leave a legacy that lasts and so look if you want to hide your money because you're going through a divorce this isn't for you we're not going to help you do that if you want a magic pill this isn't a magic pill it's not done for you we're not here just to invest your money if you think you're too busy I get it but every day that goes by means you're giving money away to the government to institutions and risking your money and it's not too late i mean I just feel so compelled for the next 5 years to create a destiny for my family that wouldn't be possible because the tools that AI allow me to be more effective and create more value there's a lot of disruption out there but there's a lot of people looking for guidance there's a lot of time where people in disruption will start to seek to grow their own value and that's where we can grow exponentially this is to help you create your richest life you don't get this information in school or online courses or financial gurus or textbooks this comes from constant questioning access to closed-d dooror meetings of the wealthiest people in the world when I spoke to 20 billionaires a few years ago it's decades of early mornings and asking questions and writing courses and admitting we were wrong you know Mike talking about the investments mistakes he made before 2010 i've made those mistakes but instead of us defending our actions we owned it and said "What would be better?" We made a commitment 24 years ago 25 years ago to be more focused on what's right than who's right meaning we had to admit when we were wrong to learn and grow so there's some fast action bonuses the tax navigator Killing Sacred Tows 2.0 Money Unmasked and What would Rockefellers do audio books these we rewrote you know uh Killing Sacred Tows and it's got a whole thing of comedy so you can laugh and learn money unmasked is my newest book so you learn your money persona which is awesome for your spouse and your kids to all go through and again and I will review your plan we have our meetings on Mondays we'll sit down and we'll look at these plans that way if you're not on his calendar and you're in someone else's calendar our still we're putting our personal touch our stamp of approval we've got you so that's what you can do now I'm here to answer questions and and I'll stay on and Michael I want you to you know give your closing remarks as well yeah Garrett man thanks for that passion of it i I want to leave you guys with this and definitely stay on for questions uh too but I want you guys to all believe that you're worthy of having this in your life i think most of you already feel that way or else you wouldn't be on on this uh master class or even thinking this way or beginning to think this way or starting to think this way or wanting to think this way but I'm more empowered now because of this Rockefeller method in my life for my wife and I for our family we're first generational wealth 95 plus 98% of the clients that I meet with on a daily basis is first generational wealth and I wake up daily every single morning knowing versus hoping that I have this planning in place and one of the things that if you work with me personally I'm going to challenge you to write a last letter so I challenge all of you right now as part of your homework in your legacy plan to write a last letter if it was the last thing that you're writing to your significant other to your kids to your nephews to your nieces to your grandkids what would you say to them what would you want them to know about you about life about the values that you live by and that letter is mainly for you i write those letters right here at this desk usually around the holidays because I'm in that I'm more in that spirit of it and I'll I've written a series of letters to my grandson when he was born two and a half years ago and I'll write some to my granddaughter and that writing of a last letter allows me to get clear on what I stand for and what I don't so I can show up on a daily basis in alignment more with those core values and yeah if something happened to me if there was an accident something happened I died at an earlier age that last letter is going to be part of my legacy plan that's going to become the foundation and the basis of your family constitution so that's a homework assignment i wasn't planning on sharing that Garrett but if any of you feel compelled to write that last letter write it and make that part of this whole process and then do that on an annual basis update it just like you'll update your legacy plan moving forward awesome so let's see trisha I don't know if you've gathered some of the questions uh you know um but we can kind of look at that are we going to learn the Rockefeller waterfall method well Jonathan the Rockfall waterfall method really came from the Rockefeller method and it is definitely inside the course of how to perpetuate and do those kind of things so absolutely is it different than the course at Wealthactory the course at Wealthfactory is called cash flow banking and filmed it a long long time ago and it's you know definitely helpful on the insurance side of things and on the basics of trust but doesn't go into domestic asset protection trust it doesn't go into family constitution that doesn't go into you know family legacy it didn't have the family legacy rings cuz it wasn't created back when that course was created so helpful but old this is definitely updated it has the AI tools has all the legal stuff that wasn't in that other course so I think that that would and and Dr mccoy says this was extremely valuable so glad um you know thanks guys have to go chat next week michael good to see that um being a Canadian is this tariffed half kidding half not i mean who knows who knows i you know like who knew like I don't know what's going on there and it will change by the time I finish the sentence uh so we'll have to kind of see um let's see is access to the essentials strict 30-day know it's lifetime um what's the level beyond essentials that's the you know the the mastery which I kind of went over there um why why do you say only 1% of insurance pays out chris I said 1% of 1.1% of term insurance pays out 1.1% of term insurance so yeah it looks like someone already answered that were there any other questions if you'll type them in here that we didn't get to or answer we're happy to stay on and answer it's amazing to see so many people staying on this far into the into the program and learning uh just feel free to type in the chat or you could even raise your hand and I'm happy to just call on someone that raises their hand and have a conversation back and forth as well awesome you see so many faces on here too love that there's you know a lot of people don't have their cameras on but there's enough people to fill my entire screen with faces so uh thank you for that uh thank you for a great educational forum you're welcome um this was phenomenal thank you uh appreciate that ryan do you have your hand up yes ma'am um I'm just kind of thinking that this is a method it's a timeconsuming method it takes time to build up the cash value to be able to do what you're talking about right yes and that's why we focus on properly structured optimally funded so that you you can have access to it sooner than later hopefully but um depends on your other assets how the allocation works um but you know and and the key is you're going to control this death benefit from day one which is the real strategy here the secondary strategy is the cash value but definitely takes time um but you can have this design where you have a lot of the cash value from day one we've seen it where certain companies and certain ways that people fund it could take 10 years we've seen people that are using it within the first year so but it definitely takes time just as legacy takes time it's a it's not a get-richqu it's more of a get-rich right type of type of program so that's a that's a fair assessment that you said thank you yep i see a hand over here let's uh I Kevin also has a question but he couldn't raise his hand okay i don't uh can you guys hear me yeah yeah I don't see the uh I don't see the raise hand option but anyhow so Garrett I actually worked with you guys God about six years ago and um so a lot of this stuff is just full circle coming back um just um just to let you know I already have a will all that stuff is done um I am actually taking I live in Texas and I'm taking my insurance my life insurance exam this Monday so Oh nice um yeah it's it's unbelievable you know like she did the the late Steve Jobs said you can only the famous Stanford speech you can only look backwards to connect the dots so everything it's like synchronicity because I've been in the financial world for years so um right now I am going to get my LLC uh it's happening like as soon as possible so I had to pay taxes this year because I walked away from the corporate world like over a year ago and uh uh so I just accessed my IRA and of course I'm I'm I'm going to be 52 next month so um so anyway my big concern is this is um is taxes and uh you guys are the experts on I mean my goal is not is to pay little or no taxes ever and I know you know like I said they just need a little guidance with that yeah so the tax navigator is one of the bonuses that's one of the most comprehensive checklists that you could have and you know if you're in business and earning income as business there's a ton of strategy on the tax side to help you know minimize that and so we have again we have one of the bonuses is a deep dive discovery with Bobby for people that are at a place where taxes are an issue which means typically for taxes to be an issue someone's got to you know have $100,000 of taxable tax that they're paying or taxable income you know anything under that it's not really a tax problem it's more of an income problem but yeah that's uh that's all part of the process in the things that we do so we got you cool thanks all right see the other hand here i call a name but it's so far away from my face where the screen is that I can't see the name up here hey Garrett Michael here hey I just real quick on now in the event someone a little bit older you know and that maybe had some health challenges or issues is there are you using like a surrogate for the insured like on a grandchild or a healthy child and then is that kind of how how you would structure it that could be an option definitely on a spouse or a child or grandchild you know we obviously want to go red winner first if at all possible if there's health challenges is there a way to get them healthier to apply later on and go through a process and Michael can talk about that's really motivated a lot of people to get healthy other people maybe they've had cancer and they've got to wait for a certain number of years before they could apply but definitely kids or grandkids would be one option because a big part of it is trying to leverage the death benefit and if you're if you're only it seems like the only option if you're using a surrogate then you're your only option really is the cash you know maximizing optimizing cash flow yep okay so then someone in there that is possible if someone had issues with you know whatever you know with your guys knowledge of the underwriting with the carriers and so forth of how how far the look back would be where they would be more insurable at some point in the future so I'm glad you bring this up because if anyone's uncertain about that it's really important to schedule the meeting and we can kind of helpate you know there's certain companies that you know were like okay there's there's certain companies that will just I had a table D for a while which means that it's a a lower rating and then eventually got back to being a standard issue and it was just a process and it was actually motivating when I got that insurance and got rated to get where I needed to go so really quickly before I go to the next question I just want to say you know uh Beasley um Sergey Jim Jill those are some people that jumped in and I just want to say thanks welcome on board excited that you're jumping into the challenge i'm sure there's some more that came through those are just the ones I kind of see i want to say thanks yeah thank you that's that's Bezley by the way sorry Bezley that's okay i've been called worse so I I did take advantage of the offer and I thought I took the upgraded offer but it seems my receipt is only reflecting like it's not reflecting that so I'm not sure what happened okay well we'll check on that and reach out to you um no okay also I want to thank you um just thank you for what you're doing and uh I was involved in an insurance company [Music] um they're mostly pushing ILS and ULS and I didn't do much with it um but since listening to your talk I've gotten really excited about insurance i'm no longer with them but I've been telling you know all my friends and uh even recently my wife was able to reach out to her uh insurance agent and find out that she had some cash value against her policies that she you know we needed to we need to use actually for my son's college so um thank you thank you so much i really I really appreciate what you're doing thank you for letting us know and thanks for jumping in and we look forward to helping you so all right next hand next Omar okay great hi everybody thanks uh thanks for these three very frustrating books that I'm trying to read all at the same time that I am also working on my trust with my attorneys love it um I I think I've got all the Lego pieces but I just scheduled a uh free consultation with Michael great and um definitely going to take advantage of this other piece uh I'm a little bit older uh you youngsters I'm 65 and uh you young kids there um take advantage of this do this now you don't want to wait um I waited well I just found out about this so in all fairness I'm jumping on it i'm trying to get it done well I'm glad that you jumped on and it's inspiring and uh you know sorry to give you three books at once but uh hopefully we're helping you navigate that a little bit now you get some personalization and the other thing that I did that people may want to think about is make those three books required reading for your heirs if they read them then they'll get it and they can perpetuate this but thanks for all the information and uh hope to be seeing you soon yeah absolutely thank you so much appreciate it these are fun like Michael you can tell Michael and I are loving it like this is a this is a lot of fun for us to teach and interact and hear from you and see everybody in the chat and it's like yeah we love this so all right next Trisha who we got christina christina hi um so uh I actually uh recently founded uh my whole life I've been working with Nick uh he's been great on that nice um I did read all your book um I'm still in W2 uh you and I actually uh exchange exchange some text a while back i'm working on my book and um site business but it's not quite there yet so I'm not sure in terms of like the tax advantages i know that it's still limited until I can get to that um does this this channel help in terms of the setting up the trust and um like I'm I'm trying to understand a little bit more of the details in terms of how it would fit my own situation as I'm not like I don't have my own business and things like that so we'll definitely you know now that you'll have this one-on-one and that can help you out with figuring out what to navigate the trust isn't going to necessarily save you any taxes there are some tax strategies that you can do as a W2 there's not a lot but you know I'm you know today I was just uh Mark Fister who's on here is one of our licences and he introduced me to a great tax firm and they were just talking about different W2 strategies because I said there's not a lot we could do and they said actually here's a couple things solar credit stuff like this so there is a little bit of potential there uh not as much as being a business owner but it's not like all bad news so and you know just take it in stride and have these calls and we'll definitely help get you organized you've been very proactive and and uh you know I'm excited that you're doing a book and these things take time it's like my wife just knows when I say we're going to do something she's like "Cool whatever that time frame is I'm going to extend it just a little bit because Garrett's extra excited and excitable and it's just and she just knows that it might take a little bit of time." Give like give yourself a little leeway there like you're doing the work you're here just be kind to yourself and know it's okay if it takes a little time i mean like how cool is it we're all here talking about legacy i mean there's people that just never even think about it or talk about it and it's on your purview you know you got people like Namar saying he's 65 got these three books that are over but he's like here and he's doing the thing and you're here and you're working on it so um you know it if I wasn't doing this every day my legacy plan probably wouldn't be in place if I wasn't hosting events for it or researching it all the time sometimes people see it like "Oh my god look at all the stuff you done." I'm like "It's my career it's what I'm studying if I didn't I know how difficult it might be." And so we're that's what's beautiful about Matt on the team is he just created the best AI tools to make it so much more simple i mean just so cool that you can get that done in so such you know a shorter period of time and we just got great people like Nick that that people mention he's part of team and is awesome so you know we we've got a a really amazing crew here to help everybody out all right next question tim go ahead oh hi Garrett hey hey Bo and Kim here and hi Michael hey we had really enjoyed watching you guys tonight and um very inspiring story Michael thank you for sharing that you're welcome heartfelt um uh really excited about what you had to say about um the insurance policy i'm 59 years old i have a backhoe service that I've been doing this stuff for 40 years getting tired it's uh yeah you know I'm just getting tired of getting in and out of the trenches and doing what I do i'd like to have a little bit of change um uh own a a home i own a home here on the coast of California it's beautiful little place uh I got a little So Kim and I um have a great little spot here on the coast it's paid off so just trying to figure out a plan and what you were saying about reverse mortgage and um the life and the homeown or the whole life whole life policy um and it just kind of sparked me up again you know um thinking well there are possibilities and um and just coming up with a plan you know we're both really active and healthy living on the coast here we just want to continue the life with the rest of the lives we have left with us you know in our younger age 59 yeah i'll Garrett I'll I'll uh comment on that real quick um first of all thanks for that um second um we want to coordinate that decision so that's a microeconomic decision we want to coordinate it on a macroeconomic view so if you'll go to Whole Life Certified and just put in your basic information in there you'll either meet with myself or Nick or somebody else that we've certified to be able to help you with this but that decision of a reverse mortgage your age what else you're doing with your money you know reverse mortgages you can start at age 62 or older and the older you are past the age of 62 more of that equity you can access so if you're 62 right when you start it maybe you can start with a you can access a lower percentage of that equity that's in in your home but if you're 72 you can access a a higher percentage of that equity right because you're going to be closer to death according to the financial institutions and I don't re I don't write the reverse mortgage but I'll help you with the overall strategy of coordinating that decision of a reverse mortgage and then when it comes to whole life insurance if you're 59 and a half we want to be able to fund that thing for a minimum of seven years and so what are your other assets doing is the money going to come from your income to fund the whole life insurance or is the money going to come from assets that uh that you have saved already that can peel off to fund that so allow us or somebody else on our team to help you coordinate that decision but yeah it's it's a great strategy and uh why not unlock that do you have dependents or do you have people that you'd want to leave money to when you pass away family members you know you know the kids you know whatever works out you know wherever everyone else is in life you know yeah you're gonna leave something anyway because we don't know when we're going to pass away it's not if it's when so you're gonna leave something so let's be even more strategic about how you leave it because these whole life insurance policies allow us to put pennies in and get dollars of value right you're funding it with a premium but you have hundreds of thousands of dollars or millions of dollars of death benefit that could come in so let's leverage that decision with a reverse mortgage with the value of your business and maybe other savings and retirement vehicles that you have and by doing that like Garrett mentioned early on in the webinar you'll be able to spend and enjoy 30 to 40% more income by coordinating those money decisions together and be able to leave it behind and my promise to you that if you're working with myself or anyone else on our team that we've certified in this that will become a reality for you and if it is why not why not find out how how to do that and implement that in your life okay hey Michael can I just interject something real quick there are products that aren't government um like the home equity conversion mortgage or 62 minimum as a borrowing spouse but there's products that will actually allow you to convert equity at 55 so there are those products out there yeah okay yeah so we would have you meet with a mortgage specialist but I'll help you determine is it is it better to do that now if they do offer it at 59 and a half or 55 like Mike was saying or would it be better to wait till you're 65 so let's coordinate that all together and make sure that that's specific to everything else that you have going on financially yeah it'd be great to have a goal a number to get to if it needs to or whatever it takes you know at least the unknown right to coming up with that yeah and part of that process too is once you have that information maybe something in there would be if like many times when I'm meeting with people they don't they don't know they don't have this exit plan by going through this process they find out exactly what the exit plan's going to be for retirement income and then that gives them a renewed life of I don't have to work but I want to and that's a totally different mindset of I want to versus I feel like I have to and maybe you don't have to but you don't really know it because you haven't coordinated all those money decisions together so let's help you with that first okay great look forward to Good question awesome thank you for Thank you other questions thanks for chiming in Michael sure yeah I I have one Garrett yeah what's up man it's so good to see you twice in a day look at that twice twice in a day i hadn't seen me for a couple months and twice in a day he's in my multiplier program as well as Jeremy and a few other people so uh you know that's great so a couple years ago um I seen the premium finance deal that I really liked about i really liked but it just didn't make sense with interest rates and stuff where it's at so I've been say I got like $250,000 I've been saving up for this premium financing to hopefully switch back the other way it doesn't I don't know when it's going to happen or if it's going to happen should I just do like a like a one pay or something right now before that ever turns or you think that'll ever turn or what should I do with I don't like sitting on this cash because I see a toy or I see something come up that I end up buying while I'm waiting and I really like life insurance i just don't know what the right thing to do is i'll explain premium finance for people first off like so I have a premium finance policy but I I'll guess I'll disclose I have 27 whole life policies people were like "Why do you have so many?" Because my first one was 50 bucks a month when I was just a you know 19-year-old and then I made more money and I have one on my wife and I have them on the kids and I have them on business partners and so I have a lot just on myself as it grew and so at one point I decided to do a premium finance with my wife cuz interest rates were really low back in the day and what happens is just like you get a mortgage on a home you can get kind of your a financed deal for the insurance and the cash value becomes collateral and you know it's not for everyone and there's a lot of moving pieces that are involved in it um I feel like mine's you know we had a time where interest rates were so low that I was tempted to do it i did it and now interest rates are higher so it's not quite as as as good as it started with but it's okay i made sure to maximize all my personal policies to the highest degree before I chose to do that and I wanted to have the cash value in whole life policies and then I did the premium finance afterwards when there was no more insurance to to get my wife had a term policy that we could convert doing that and it just made sense so um you might look at you know some cash value type policies that have a ton of cash in them that if you end up doing that down the road the cash is earning and it's got your death benefit and you could use it at that point um especially if it's you know high cash low low commission type policy for that so um you know something I would go talk to Braden about and take a look at with him and and see what he can kind of come up with for you i'm happy to look at it with him too and see what the premium finance deal looks like and what your risk might be and and the things to do that way but you know Braden's super versed and all that for sure yeah yeah he's Yeah he's the one telling me to hold off because it's just not the premium financing deal isn't quite right braden's saying to hold off i'm I'm you know that's good because he's basically saying "Hey I don't want to make a commission until it's the right thing to do." So I love that he's he's doing it that way and that's part of why he and I had such a long-term relationship gotcha so just find find a different policy to just invest that money in now and then and then just wait and then you can just use that out of the policy if that if that ever actually comes up gotcha and then how much of the stuff the this uh legacy meth method thing compared to our uh mighty network is how much of that stuff's the in the same is it totally different where it's going to be different is the AI tools for example to build the legacy you know uh the crest and the constitution um as far as like the challenge with me teaching the videos those videos you've probably got in the mighty inside of multiply higher it's just that the specific legacy stuff in this is going to be very unique to just this course okay perfect sounds good thank you any other questions you know cuz it's almost Mike and I's bedtime we're we're early kind of people and I'm sure Trish's her bedtime's around the corner too she likes to get up at 3:00 so she's got to go to bed at around 8:30 you know and and this is the time she'd normally be reading a book she's like she is amaz she's on these every single time before anyone else taking care of everything she's just like so phenomenal and I'm just so appreciative she's also my sister so in full disclosure talk about legacy i did hire my sister i'm like "Hey we're going to tag along and hang out together and have an excuse to to spend more time she just always takes such good care of me and I just love her." So we got another question here sorry quick oh yeah um how long is this offer for jax where are we at on that do it now or it's never coming back ever again it's act now and Jinsig knives and never gonna No I don't know jax what were you saying um the discounted price is available through Sunday night okay okay then it goes and this is different from the rich life bundle right yeah rich Life bundle is three books you know with the two courses that come along with it this is completely different there's the only crossover you're going to have is a small amount with the legacy builder course inside of Rockefeller book is really this is completely built just for this like it's brand spanking new we just uh we just completed at the end of last year awesome and you've been very inspiring just going for a walk before it gets too dark here i'm on the West Coast and I'll sign up for it afterwards then that sounds fantastic on board excited to have you thank you hey Garrett now are do you have preferred vendors for you know the trusts and things of that nature or if we have one already you guys just review it or or we can review it um if you have a great provider already and if you don't have a great provider we have we have amazing attorneys so y great okay thank Mhm mike how much fun did you have tonight dude that was a lot of fun Garrett yep yeah and if someone's current problem is taxes sorry Mike didn't mean to cut you off go ahead i'm I'm like excited still your bad my bad i was just going to say it felt good to go back and forth with you usually I'm one-on-one with clients but going back and forth with you felt really good that was fun you You set the tone with that initial story so so Matt says current problems taxes i mean if you're do the calls and then you're like "Hey I got an issue with taxes." Well then we can set you up for that complimentary bonus with the deep dive discovery look at the taxes and do a report of findings on that and if that's like you know you heard you know you heard from Paul and and you know even Jeremy they're in their multiplier program where we've got you know uh we've got accountants and we've got the ability to kind of support you so um absolutely can help uh have you got something in the hopper to teach kids well for young adults I've got I am Money and when I say young adults actually kids kindergarten through third grade it's fantastic for maybe a little bit older i am Money is a kids book that distills this into a beautiful little story trisha's holding it up it It is the first time I read it because it's my content and then Julia Cook who's a brilliant children's author sold 4 million copies of children's books turned it into Speaking Kid and it is awesome just phenomenal um so that's the the main thing that we've got i do have a couple uh courses inside of two universities um so in Life University and Southern Utah University both have some financial courses inside of there um my next book I've written the manuscript it's using humor to teach finance it's definitely going to be awesome for younger people um I just think it's you know it's shorter it's funny I think it's just more enjoyable for them to read and Matt wants to let everybody know he's working on a hiring your kids AI tool too to help you with ideas on ways to employ your kids and teach them entrepreneurship it's that's awesome when you get the legacy builder course which comes with the Rock Filler audio the first section is got like 19 or 20 really good ideas on how to hire your kids too so but yeah that's awesome that Matt's working on that um it would be great to have a financial curriculum for homeschool kids i agree Susan i made a post the most the most comments I've ever gotten a post in Facebook was years ago i said if we were to create like a homeschool curriculum for finance we got 470 responses and then I just realized when I tried to film it I I did try to film some things i brought my kids in we turned our guest room into a classroom i brought my niece and nephew and my other nephew and I just absolutely spoke over their head and I was like "Okay I got some work to do here." So it's definitely an amazing idea ai is probably going to be the one that helps us get it across the finish line um I think but I I agree great idea money mass we we got Chris Money Mass robert has a question oh okay robert what's up man see Robert's hand but maybe you're on mute all right just if you get off mute just talk over us we'll see if there's any other questions here his microphone must not be working because he's muting and unmuting but there's no audio through robert we had Zoom shut down worldwide today so we were like oo is this going to be a master class that's not a master class are we gonna have to send an email out put people on Google Meetup or you know Microsoft Teams or something so yeah Dave it's good to see you on here man dave's got a book coming out here uh pretty soon and he's a wizard with the numbers he's created some pretty cool software that I've seen so good to see you here Dave hey blessings to see you guys appreciate how you pour into people hey well I think we're coming to a to a close here um so great to have everyone on tonight we're 2 and 1/2 hours in and people are still on you guys are hungry for information we love giving it so thanks for your questions your engagement uh welcome to the people that jumped into the challenge uh we'll be sending out a recording sometime tomorrow um this was just a a pleasure i truly enjoyed it even when I got caught in mouth and couldn't speak for a minute you know but that's all right went and got water when Mike talked i was good to go but it was not marijuana not not marijuana no I am clean for the blood test okay you did not inhale i I did not inhale i did not inhale take care everyone have a great night have a great night thank you guys everybody have a great night