[00:00:00] Intro: Welcome to Private Banking Strategies Podcast with Vance Low and Seth Hicks, your secret weapon to protect your assets and never have to start over financially again. Vance and Seth help high net worth individuals, families, business owners, and investors, structure and asset protect. Tax free fortress for their families.
[00:00:21] Intro: Learn how to keep what you earn and use the velocity of money to create your own private banking system. Join us on this journey as we explore the secret strategies of the rich and political elite and help you take total control of your financial security now onto the show.
[00:00:48] Host: Hello and welcome to Private Banking Strategies with Vance Low and Seth Hicks. Seth, how are you? Doing great. Eric, how are you? I am fantastic. I’m excited about today’s subject, Vance. I was looking over to the notes. You guys send me [00:01:00] some notes ahead of time just to kinda help me to get ready for the podcast, kinda a little bit what I’m gonna learn today and it just absolutely.
[00:01:08] Host: Had me thinking about some videos that I’ve seen lately, I’ve been watching, uh, like Congress and the Senate have brought people in to, to question, right? They’re questioning about all sorts of things. We’re not gonna get into the politics of it, but what I’m noticing is more and more somebody will ask a question like on a regular sunny day.
[00:01:26] Host: The sky is blue. Would you agree with that statement? And the people that they’re questioning can’t answer it. They won’t answer it, yes or no. They go off in this huge long description of, of, well, it could be this, that, or that. No, I just want a yes or no answer. And they just refuse to answer yes or no.
[00:01:40] Host: And I think they’ve learned that from the politicians, right? I think we’ve kind of come full circle, the politicians that we’re dealing with. They just never quite say a straight answer. They don’t exactly tell the truth, and it’s frustrating to me. I know it’s frustrating to a lot of people, so when you gave me these notes today, I thought, okay, this is right in line with everything we’re [00:02:00] experiencing today.
[00:02:00] Host: We just, there’s not a lot of trust out there. Right.
[00:02:04] Vance Lowe: Well, Eric, I think you hit it right on the head and it’s the purpose for our topics today, and I think it’s very timely. Seth and I and you and everyone else we’re being bombarded with. Information today that just is absolutely insane and crazy. Mm-hmm.
[00:02:23] Vance Lowe: And so I think we should head down a way where we can ferret out some of that misinformation and make sure we’re protecting ourselves, our loved ones or families, and trying to do the right things.
[00:02:39] Host: And I think people just want truth. They just want somebody to tell ’em a true statement, and it’s so much harder today, and maybe I’m just getting older, but it seems so much harder today than it used to be.
[00:02:51] Vance Lowe: Well, you’re right, as long as you don’t infringe on their truths. That’s what I’m finding, and I’m [00:03:00] finding that people who feel that this is truth, when in fact it’s not. It’s not only not true. It’s 180 degrees opposite, and this is where we want to go today.
[00:03:12] Host: Okay. All right. Where do we start?
[00:03:15] Vance Lowe: Well, we’re gonna start with why thinking is such critical part of a decision process.
[00:03:25] Vance Lowe: All about how we think in life becomes critical. In order to start that we know that government has created programs and everything else that have kind of steered us in our thinking, and we’re gonna expose some of that and we’re, we each are gonna think of this and decide where we think the answer is versus what might be the truth.
[00:03:54] Vance Lowe: For instance, I want to throw out there a question. [00:04:00] If we’re gonna be taxed by government, would we rather be taxed on the seed or the harvest? Seth, what would you say?
[00:04:11] Seth Hick Esq.: Well, it, it would be best to be taxed on the seed and then not the harvest. Obviously the harvest is a multiplication of the seed.
[00:04:22] Vance Lowe: Alright.
[00:04:23] Vance Lowe: But have you noticed. That on the tax qualified plan. See, government created the issue by, you know, giving us a bunch of taxes and we all complained. And now they tried to sa save that a little bit. So they create tax qualified plans and in fact, they are just the opposite.
[00:04:47] Host: Yeah. Like 4 0 1 Ks and things, right?
[00:04:49] Vance Lowe: Yeah. Yeah. So. They say, we’re gonna take it off your tax, uh, your taxable income for the purposes now, and then it’s gonna build income [00:05:00] tax free on your retirement, and you will be in a lower tax bracket at the time you’re going to need it. That’s an outright lie that’s always been conception. So we’re in the lowest tax bracket we’re gonna be in, and I’ve asked for the last 50 years almost.
[00:05:22] Vance Lowe: Do you believe taxes are going down, or do you believe taxes are going up? Everyone? I don’t have anyone saying taxes are going down. Sometimes I, I get somebody who’s so misdirected that will say, well, in my case when I retire, I will be in a lower tax bracket. I said, do you know what you’re telling yourself and me?
[00:05:43] Vance Lowe: You just, you’re telling yourself that you are going to have to lower your stand of living because you failed a planning for retirement. Do you realize that? And that kinda wakes him up and pops a little bit of a bubble there. And again, it’s about how we think [00:06:00] everybody gets in a little bit of a comfort zone and decides that, oh, well maybe this is the case.
[00:06:08] Vance Lowe: Maybe that’s the way it’s gotta be. So ha ha ha for us, in essence, that we’re suckered again into government programs and regulations. Too many times we’re just willing to believe what government tells us, and it’s now to a point that government is either not even gonna tell us anymore or will throw out a huge lie.
[00:06:40] Vance Lowe: And it’s just so surprising that so many people will believe that. So I
[00:06:47] Seth Hick Esq.: think, I think that’s why we take a step back and like we’re doing here with a more philosophical 30,000 foot overview to actually think about the systems, the government systems in place, including [00:07:00] like your 401k, which has been touted for a number of decades as this great thing, especially with employer matches and such.
[00:07:08] Seth Hick Esq.: But for those who are, have their thinking caps on and. Realize that the, the debt is $31.5 trillion, and much of that has occurred just over the last two and three decades. There is a reckoning to come and. Anytime you ask someone who understands the printing of money and the devaluation of your purchasing power in relationship to taxes, they understand that taxes can only go up over the long term to cover that.
[00:07:39] Seth Hick Esq.: So they’re strapping, they being the fed reserve, the bankers, the politicians, those who are pulling the puppeteer strings, understand that they’re strapping others with this burden, but. Um, that, I mean, we’ve talked about this before you guys, is that, you know, the 401k is and other qualified plans is in essence they’re [00:08:00] scams.
[00:08:00] Seth Hick Esq.: Even the, the father of the 401k switched rails and talks about how he created a monster and that it is not something that he recommends for.
[00:08:13] Vance Lowe: Well, I think you’re so right. You know, Americans have swallowed the lies for so many years, but reality finally sets in and then all kinds of despair happens.
[00:08:25] Vance Lowe: It’s just, it’s unbelievable. Woe is us, so to speak. When we find out reality versus what we thought were gonna happen, what can we do about it? And what does America do about it? Eric, you know, when they don’t like something as a group, who do they turn to to fix it?
[00:08:42] Host: Oh politicians, which they don’t. Yeah.
[00:08:44] Vance Lowe: Back to the politicians. Yeah. The people who put ’em in the same mess, lied the heck out of everything. They go right back to ’em and ask them to fix it. And that is to me totally unbelievable. Einstein actually put this the best and I wanna [00:09:00] try to quote it. ’cause a lot of times it gets mis misquoted. So he said there is nothing.
[00:09:06] Vance Lowe: There is nothing that is more cer, uh, a more certain sign of insanity than to do something over and over again and expect the results to be different. Mm-hmm. Just a very ingenious man. Alright, I’m gonna give you all some statistics now that are taken out of one of Nelson Nash’s book. It’s about 11 or 12 years old, so we’re, we’ll need to redo the math on, uh, the numbers here, but, uh, you’ll get my point as we go along.
[00:09:37] Vance Lowe: The first one is, the US Postal Service was established in 1775 and. At the time of the book, that was 237 years in business for the government to try to get it right and it went broke. So that’s like today it would be more like 248 [00:10:00] years. So government didn’t do a very good job there. The next one was social security.
[00:10:06] Vance Lowe: That started, actually started functioning in 1935. They’ve had in the book, it says 77 years, but if I bring that current, it’d be more like 88 years to try to get this right and they’re broke. I wanna talk about social security and what they promised the people back when it first started. It took several years to sell the people because the people were thinking correctly back then where they’re not doing that today.
[00:10:39] Vance Lowe: Okay, so Seth, I want you to help me out here a little bit and to talk about social security and why it’s been such a government ripoff for the people to have to pay those taxes. Well, I mean, just.
[00:10:54] Seth Hick Esq.: From a fundamental philosophical standpoint, I mean, America is [00:11:00] uh, a capitalistic country and it was founded upon free enterprise, the freedom and the right to associate it.
[00:11:07] Seth Hick Esq.: It rewarded creative thinking, it rewarded competition, it rewarded free market enterprise, and social security is the antithetical polar opposite of that. It’s actually rewarding people for doing nothing. For, it’s a socialistic program. It mirrors communistic and socialistic culture in which we know that Marxist and Communistic policy is doomed to fail.
[00:11:35] Seth Hick Esq.: It’s failed every time, all the time, and thus social security was doomed to fail from the beginning.
[00:11:42] Vance Lowe: You’re so correct on that. It’s more of a Ponzi scheme. A Ponzi scheme works when you bring money in to. Fulfill the obligation of the people who paid in earlier. More people later on are gonna pay more money in, so we’ll use that money to pay for social Security.
[00:11:59] Vance Lowe: In the [00:12:00] meantime, we’ll take the money and do what we want with it. Here’s the truth about social security, and have they lived up to their promises? The money coming in if it was put into an account and earned 5%? Over the working life of individuals. If I brought that current today, social security would represent close to $150,000 income from Social Security to retiree, and we’re not anywhere close to that are we?
[00:12:37] Vance Lowe: We’re only at an amount that isn’t even the poverty line and governments literally having to create. Money out of thin air to fulfill the social security obligations. As it stands today, they’re going deeper and deeper in debt ’cause they do not have the money coming in for social security. So there’s [00:13:00] the second one that’s failed.
[00:13:01] Vance Lowe: We got a total of seven. Fannie Mae was established in 1938. They’ve had close to 85 years now, and they’re completely broke. The war on poverty. I don’t know if everybody can remember back that far. In 1964, government had now 56 years, if I bring it current to date, and over, well over a trillion dollars of money confiscated each year to tra that’s supposed to be transferred to the poor.
[00:13:32] Vance Lowe: And they want more. They haven’t got it right yet, and they’re broke. So I don’t, you know, kind of know where we’re going with government programs. They introduced Medicare, if you’ll remember, and Medicaid back in 1965. That’s broke. Freddie Mack, which is another government program, was created in 19 7 70 and.
[00:13:57] Vance Lowe: They’re broke, and that’s over 50 years. [00:14:00] Uh, plus worth of effort trying to get that right. The Department of Energy. Now, here’s a really good one, was created in 1977 to lessen the dependence on foreign oil. It has ballooned back then and again. I’m, I’m 11 years old here back then to 16,000 employees, a budget back then of $24 billion a year.
[00:14:27] Vance Lowe: And we import more oil than we have ever done up to this point, you know, and it is an absolute dismal failure of government. So we have to understand that every single government program that government has literally crammed down our throat has failed. So why do we want to trust those folks with our retirement programs, [00:15:00] the tax qualified one?
[00:15:02] Vance Lowe: So where’s the problem now if we’re contributing to those? Government’s shown us, you know, their fail rate, they’re at a hundred percent fail rate, and yet the masses of people pour money into these qualified programs. Like it’s the only thing they can do. So guys, you look at those folks and to kind of.
[00:15:34] Vance Lowe: Where did they get educated? How are we educating our children? We’re amazed, or it is amazing that it all boils down to how a person thinks. When I talk today, Seth, and you can expound on this when we talk about people, why are you putting money in these 4 0 1 ks? Now? Why are you participating in, uh, these qualified accounts?
[00:15:57] Vance Lowe: What do you get?[00:16:00]
[00:16:02] Intro: Do you see yourself in that story? Do you feel like you are generating a lot of revenue but are not moving forward as fast as you would like? Are you ready for help? Please call private banking strategies at (817) 200-4777. Or visit us at www.privatebankingstrategies.com.
[00:16:32] Seth Hick Esq.: Yeah, you, you know, you really have to burst the bubble and, and people’s thinking when it comes to these retirement plans, and especially if someone’s running in their lane doing what they do in their expertise, and perhaps they’re a high, you know, income. Employee at a company and they think that, Hey, my company is matching contributions.
[00:16:56] Seth Hick Esq.: And, but they don’t ever break down the numbers. And when you actually [00:17:00] break down the numbers and you think about the tax you’re gonna pay on the harvest rather than the seed, and you think about the illiquidity, you can’t touch the money. There are penalties for trying to take it out too early. There’s penalties for leaving it in too long.
[00:17:14] Seth Hick Esq.: You have no control over it. You’re effectively putting your money in prison and letting. The government create all the rules. You have to beg for permission to get your own money. Then as far as market returns, there’s fallacies in that as well, which never seemed to pan out and what we. You know, our engaging with folks is really a, a wrestling match with their thinking and helping them to understand that you can trust yourself a lot more solidly for most folks than you can trust.
[00:17:48] Seth Hick Esq.: The government to control your money. And when you break it down and explain it like that, most people can see the light and understand that, hey, I can do better than the federal government can do with my own money [00:18:00] and my retirement planning. Eric, I mean, we’ve, you and I have discussed this off air. Some wouldn’t, wouldn’t you say there’s a, a process, a metamorphosis, and thinking to really get down to understand this stuff.
[00:18:12] Host: Oh yeah, absolutely. Because the, the stuff that you guys are teaching, I’ve been with you since the beginning, and it, it took me a while to catch on, right? To really understand all how all the pieces work together. And so it’s, I want the audience to understand that if you’re just listening to this for the first time, or maybe this is your, you know, you’ve only listened to three or four podcasts, go back, check out the library because you’re gonna begin to understand this more and more.
[00:18:34] Host: It’s not just one piece that’s like, don’t do a 401k. You can do better a different way. There’s a whole reason why they’re saying this, and there’s, there’s all these other steps that you have to look at as far as this overall strategy, because it is very complicated. I mean, when I, when I was first working with you guys, I was lost.
[00:18:52] Host: I was like, I have no idea what you’re talking about, but I get it more. I get it much, much more than we used to. Right.
[00:18:59] Seth Hick Esq.: I [00:19:00] always liken it to martial arts because that person that walks in off the street and hits the mat for the first time, they’re lost too, and it’s totally foreign to them and it’s super complex.
[00:19:12] Seth Hick Esq.: But once they’ve been there for six months or a year, it actually becomes quite simple. You’re building on one block upon another, and things that were totally foreign in their thinking are natural and they don’t have to think about it. So that’s why I use that. That analogy and that illustration is to, some people can understand that and others probably better be better illustration, but just like you said, I mean, it was foreign to you until you got your head around philosophical change in gears.
[00:19:44] Seth Hick Esq.: Right.
[00:19:45] Host: And it’s a muscle you have to exercise. To your point, whether you’re working out at the gym and, and you have exercise routines that you do, or using your analogy with martial arts, when you do the same move over and over again, when you begin to to read and understand and listen to [00:20:00] these podcasts, those are the muscles that you need to exercise.
[00:20:03] Host: And once you begin to get that muscle memory, it becomes much easier to understand and grasp and change that thinking.
[00:20:10] Vance Lowe: And we have to wait This, this is the whole full circle here and this is why we’re doing it. If we attest that back to putting the banking equation back in our lives and being able to take.
[00:20:22] Vance Lowe: Control of money, we have to expose what’s wrong. Mm-hmm. And the wrongness is our thinking. We think correctly and we don’t. And so that has to be exposed so that people are willing to say, okay, if it’s not my way. What’s the right way? If it’s not government way, what’s the right way? So if we can expose what’s wrong, people can correct what’s wrong and better themselves.
[00:20:53] Vance Lowe: And that’s what this first half of these, the two podcast, the series is all [00:21:00] about, is now we’ve exposed the thinking. There’s a still another. Critical problem that we have to face every day in America. But so I just, you know, in saying that, it’s all about how we think we have to think correctly and we have to know that there is new or better information out there that is correct versus what most people think they should be doing.
[00:21:32] Host: Yeah. Yeah, absolutely. Alright, well guys, this is a great first podcast. I’m looking forward to the second half of this. If folks are, you know, don’t wanna wait two weeks for that next episode to come out and they wanna just, okay, let’s see what these guys are really talking about. I’d like to talk to ’em in person.
[00:21:46] Host: How do they do that?
[00:21:47] Seth Hick Esq.: Well, you can find us@privatebankingstrategies.com. That’s Private banking strategies.com, and on our website, you’ll have the benefit of a free [00:22:00] book offer. You can read it in PDF, or you can listen to it in an audio form and it is a red pill. Book we like to call it, which helps to shine light on some of these issues, Eric.
[00:22:13] Seth Hick Esq.: And there are secrets therein that some people are unfamiliar with, and so that’s why we call it a red pill book because it will challenge people’s thinking and expose some of the fallacies. And government systems and financial, uh, banking systems that, that help people make a better decision for them and their families.
[00:22:36] Seth Hick Esq.: And if after you’ve read that book, you can also listen to podcast until you’re blue in the face. We’ve produced tons of content there and you can listen and until you’re an expert like anybody else on these subjects and. Once this content resonates with you, that’s where we invite you to schedule an exploratory call with Vance, where he starts to show you how this will apply [00:23:00] to you and your financial life and actually lays out an eight year roadmap for you that shows you exactly where to turn, where to shift gears, and exactly how it’s gonna benefit you and your family on that eight year journey and onward.
[00:23:14] Seth Hick Esq.: So that’s our process.
[00:23:16] Host: Alright, fantastic guys. Thank you so much for the time today. Thank you for the first podcast. I’ll be sticking around for the second one.
[00:23:23] Seth Hick Esq.: Awesome.
[00:23:23] Host: Thanks Eric. Thank you so much. You bet. And our last thank you goes to the listening audience. Thank you so much for tuning in and listening to the Private Banking Strategies Podcast with Vance Low and Seth Hicks.
[00:23:32] Host: If you have not subscribed to the podcast yet, please click the subscribe Now button below this way. When Vance and Seth come out with a new podcast, it’ll show up directly on your listening device, and we humbly ask you to share this podcast, write it, and leave a review as this actually does help others find the show.
[00:23:45] Host: Again, thank you so much for listening today. For everyone at Private Banking Strategies, this is Eric Johnson reminding you to live your best day every day, and we’ll see you next time.
[00:23:58] Outro: Did that story feel like it was [00:24:00] about you? Do you feel you should be making more progress toward your financial goals? Do you feel stuck? Let us help you get unstuck. Are you ready to take action and get your own private bank? Please call private banking strategies at (817) 200-4777. Or visit us at www.privatebankingstrategies.com.
[00:24:28] Outro: Thank you for listening to the Private Banking Strategies podcast. Click the subscribe button below to be notified when new episodes become available.
