[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 protected 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.
[00:00:38] Eric (Host): Hello and welcome to Private Banking Strategies with Vance Low and Seth Hicks.
[00:00:41] Eric (Host): Gentlemen, so good to see you. How are you? Very good, Eric. Great. Yeah, I mean, it’s, it’s been a little while. I’m excited to get back in the saddle, if you will, if you wanna call it that. Of the podcast and you guys have been telling me that there’s been a lot of questions. Uh, you’ve had some meetings and, and different types of webinars and things with [00:01:00] clients, and they brought up some questions that you really wanna address.
[00:01:03] Eric (Host): There’s a little bit of confusion out there. Once you get it one-on-one, they’re clear. However, there’s a lot of people that probably have these same kind of questions, so you want to address those. And you’ve given me a list of about 10. Are you guys ready to tackle that? Let’s do it. We are. Okay. And, and kind of what spurred this from my understanding is what banking policy.
[00:01:22] Eric (Host): Is the very best one for me. That’s kind of the, the first question, and that’s, that’s what people have been wrestling with. So kinda set the foundation for this.
[00:01:31] Vance Lowe: I’ll start with this and um, uh, Seth, you can kind of kick in, uh, on holes that maybe I leave off. But when we deal with insurance, everybody has preconceived ideas, you know, past experience, what they’ve been told, everything else, and they’re, they’re dealing with.
[00:01:48] Vance Lowe: Um, what they think is very professional people who know what they’re doing, but in the life insurance world, most agents are among the lowest paid people in [00:02:00] job, different job industries. Uh, and they’re taught what to say. And one of the things they try to do is they’re taught how maybe an illustration.
[00:02:10] Vance Lowe: Shows their company to be an advantage. And so they sell the importance of, you need to look at these numbers, you need to look at this picture and these illustrations, when in most cases it doesn’t have anything to do with what a person’s goals are. And so everybody gets lost trying to figure out which one is the best for me.
[00:02:34] Eric (Host): Let’s talk a little bit about what. Will make that picture fluctuate, right? Because you can do a picture one day. But then Seth, before we even started recording, you were talking about how things can change and all of a sudden that picture’s gonna change drastically. So let’s talk about that.
[00:02:48] Vance Lowe: Yeah, Seth, go ahead and, and get into that for us, would you?
[00:02:51] Seth Hicks Esq.: Sure. So the illustrations are based on a particular person’s health and their premium amounts that they’re putting [00:03:00] in, and they’re doing. Calculations on a spreadsheet forecasting if things are made exactly according to the illustration. But if money is borrowed out of the policy, you’ve taken policy loans out at a certain date, that affects the calculations.
[00:03:16] Seth Hicks Esq.: When you pay them back, how much you pay them back at what time you pay them back all affects the calculations. Whether you pay the paid up editions rider or you don’t, one year, we call them flexible. So let’s say the cash flow’s tight one year, you’ve got a hundred thousand dollars premium, 40,000 is in base, which is a required premium.
[00:03:38] Seth Hicks Esq.: Mm-hmm. And 60,000 is paid up edition, and all you have is the 40,000. Well, that’s going to affect the illustration as well. So all those variables affect the calculus of what’s on that spreadsheet. Um, I don’t think we have a single client that has followed precisely exactly to the t you know, the [00:04:00] premium payments and dates and times that are on an illustration.
[00:04:03] Seth Hicks Esq.: They’re more of a roadmap, a guidepost mm-hmm. That help people kind of analyze things, but where they. Sometimes folks get off into the weeds. They want to compare illustrations, and they all say, well, I have this illustration from X, Y, Z, and it’s, you know, it, it shows me a, a far better value and benefit than a, B, C.
[00:04:24] Seth Hicks Esq.: But if you recall in my past comment, you know, 10 years and beyond, they’re all leveling out with consistent application of your variables. So, um, people can get caught up in that, you know, what’s the best for me? You have to go back to the fundamental cornerstones and motivations for why you’re choosing these structures.
[00:04:45] Seth Hicks Esq.: Yeah. And, and that’s, that’s really what you’re building on, not an illustration. Yeah.
[00:04:51] Eric (Host): Even, even, like you were saying X, Y, Z, A, B, C, you’re talking about between two different companies. So, correct. I mean. Company A, B, C looks [00:05:00] great with these variables, but you change some of those variables. All of a sudden the other company would be better because of those different things.
[00:05:04] Eric (Host): And so I can see that this would be like kind of just chasing your own tail by, by having to try to compare these things all the time. That doesn’t make much sense.
[00:05:12] Vance Lowe: Yeah,
[00:05:13] Eric (Host): precisely.
[00:05:14] Vance Lowe: Exactly. And we have a practice, but we are going to go, you know when a person says, yes, I’m in. I want to start the strategy, we’re going to get a policy issued.
[00:05:26] Vance Lowe: We subscribe to several companies simultaneously mm-hmm. To get quotes from all of them. And this is where the confusion comes in. Um, usually one company falls in love with you and there might be a company that has a heartburn because of the color of your hair, you know? Mm-hmm. Whatever it is. Um, you know, so we, we need to know that.
[00:05:47] Vance Lowe: We like to know what the limits are. We, we like to know, um, you know, what the flavor is of the companies wanting to do business, put a policy on this person. And that also is [00:06:00] information for future growth, you know, other strategies, uh, once we implement the programs. So that’s, you know, one of the most confusing things is that people.
[00:06:13] Vance Lowe: They want to do the right thing, and so they fall back on what they’ve either been taught or they’ve been told. And as I do research in some of the other areas and some of my hobbies work, everything is being told or taught on the internet and it’s not necessarily true. Some of it’s downright wrong. Yep.
[00:06:34] Vance Lowe: And so we all have to test that out and we all have to do it. But this is where the advisor also comes in. You have to have faith. And the ones you’re doing, your homework should be more on what that individual’s doing, what the background is, what the success rate is, and what the income rate is. If you’re dealing with someone who makes half the income, you do, you’re in the wrong place.
[00:06:57] Vance Lowe: First off, there’s, there’s no reason [00:07:00] we teach people how to rank advisors, how professional people. The nice thing about the strategy, you don’t have to do that anymore because you don’t need a professional person anymore when you’re dealing with your money. But normally when you’re dealing with someone, we’d do a, a scale of one to 10, a one, and don’t, doesn’t even know the topic.
[00:07:21] Vance Lowe: A 10. There are no tens. That guy would walk on water. Mm-hmm. That gal. Okay. So starting getting paid for your efforts, learning enough so that you can. Share some knowledge is about a five and the, and there’s good sides and bad sides of some of that. A five thinks they’re a nine. A nine. When asked that scale, oh, I’m probably a six.
[00:07:47] Vance Lowe: It’s just a reverse. The eights and nines are the gurus. You know where you see other professionals going to for mentoring and those are the people you wanna deal with because they’ll take the [00:08:00] time to find out about you and solve the issues for you Most the fives are taught what to say and you know, have, have a program they gotta go through.
[00:08:09] Vance Lowe: And if they get outside that they’re lost and you have to fit their program and therefore he’s gonna convince you that you fit their program. So you gotta be a little bit careful of that.
[00:08:18] Eric (Host): So, again, a lot of this can be be muddy water, if you will, there there’s so much to mm-hmm. To think about and deal with for those that are listening, that are just starting this process maybe with you or are thinking maybe I should start it, and they’ve never, never even approached the question.
[00:08:32] Eric (Host): We’re gonna get some contact information here at the end of the show, but what should you be focusing on? What should the listener or the, the person who’s just starting to work with you, what should they focus on during the initial setup and, and the learning phase of banking strategy without all that other information, bogging ’em down.
[00:08:46] Vance Lowe: Seth hit the nail on the head when we talk about the seven pillars. Okay? This is a complete strategy, but it’s an unknown strategy. It was on purpose left out of our education [00:09:00] so that the banks and government would have control over our lives. This gives us the control and it makes us independent, so we have to learn.
[00:09:09] Vance Lowe: We have to be willing to learn the strategy. It’s not focused on a product. Yes, we need a contract to have our money in a safe place. Okay. That’s why we have that contract is that we get control, we get tax advantage. Okay? But the strategy of using money, being able to put it out there, our principle, and getting back all our principle, never spending it again, being living the laws of money, the 10% rule.
[00:09:36] Vance Lowe: Now we’re spending principle working off of a well-designed plan are things that. Are consciously decided upon people who do it win by default. They’re not gonna fail, but the people who don’t complain, you know, why? Why am I where I’m at? Why am I so rusted? Why is this Nelson Nash in his book, becoming Your Own Banker has five laws?
[00:09:56] Vance Lowe: Those are laws that need to be defeated on a regular basis. You be [00:10:00] are. If you’re able to do that, you win by default ’cause nobody else can. And then the banking equation. People just are flabbergasted that, you know, when we say, look, how would you like to get back a hundred percent of your monthly expenses every single month?
[00:10:12] Vance Lowe: And if you got it back, would you then be spending your principle? And they say, no. And can you really do that? We don’t have to be present, and it’s not even gonna take 20 minutes, and you’ll have no shadow of a doubt, but it’s not the way you’re thinking today.
[00:10:26] Midroll: Did that story feel like it was about you?
[00:10:30] Midroll: Do you feel like you are generating a lot of revenue but are not moving forward as fast as you would like? 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 visit us.
[00:10:51] Midroll: At www.privatebankingstrategies.com,
[00:10:57] Vance Lowe: what banking policy is the [00:11:00] very best one for you? We’re gonna share that with you before we end. But Seth, tell them I just touched on why this is so important with the seven pillars. Us a little bit more. Well, you’ve got.
[00:11:12] Seth Hicks Esq.: Certain high net worth individuals that are flush with cash and they’re feeling very unsafe with bank failures, potential bail ends, which we’ve discussed extensively, but it bears constant discussion and repetition.
[00:11:25] Seth Hicks Esq.: They don’t want their cash sitting in potentially failing bank institutions. They want ’em in a bulletproof fortress. That guy’s motivations are much different than the single mom who’s got $5,000, you know, a year for a premium. She wants to parlay into real estate investment. So we have to analyze each person’s needs case by case.
[00:11:49] Seth Hicks Esq.: Mm-hmm. And the seven pillars are pretty much a 360 degree, uh, uh, paradigm. And I, you know, people ask me, well, is it, you know, is this for [00:12:00] everyone? I think it fits for everyone, no matter whether you’re 80 or 20, whether you’re rich or poor, that these pillars, these seven pillars and motivations will fit.
[00:12:10] Seth Hicks Esq.: Within every person’s motivations and then how you structure it, we tailor it towards that person’s needs. Yeah. So yeah, I mean, but just to continue on that, and just to give kind of an example, like we talked just briefly about term riders, but one of the reasons we’ll have term riders is for those folks that have, uh, windfall opportunities.
[00:12:31] Seth Hicks Esq.: A term rider is something that you can sell a business, you have a crypto investment that parabolically. Cash is you in like the lottery? Well, where do you put that cash? We just told you that the bank’s not a safe place. Mm-hmm. But the term rider gives you the option without having to requalify medically or financially to just convert that term rider into your whole live policies.
[00:12:55] Seth Hicks Esq.: And so you can take that windfall, convert it straight in, and you’ve got a safe place for your [00:13:00] cash. So that’s just a kind of an idea or an example of one of the ways it might fit one of those people that we’re talking about.
[00:13:08] Eric (Host): Well, I, I wanna share just a little bit, uh, of a story Vance, you said earlier, and Seth, you were just talking about, about the unsafety of banks or the questions that they ask.
[00:13:18] Eric (Host): I, I actually belong to a, a small chat group that is about watches. I love watches, I like to collect watches. I don’t have any high, super high end watches someday, right? Someday I might, but I just love to see the posts. I love to see the conversations and, and learn more. So I was on that just last week, and there’s a couple guys on there that are constantly buying and selling watches and they, they’re collectors, they have huge collections, but they also do a lot of buying and selling and, and bringing watches to the, to the forum.
[00:13:46] Eric (Host): And one of them brought up the fact that he goes into his bank and he’s had issues before. One, he’ll try to pull out cash, he wants to make a cash purchase and he doesn’t like to use his cards and things like that. For that, he’ll go to a show or whatever and he’ll purchase a watch. With [00:14:00] cash because it’s the, the thing that does it instantly.
[00:14:02] Eric (Host): And he’s had issues going in and asking for $20,000 or $15,000 ’cause they ask those questions. And so there was an entire thread on how to answer if the bank answers or asks you questions. Right. What are you gonna use this money for? They can’t say watches, right, because the, the bank could flag that.
[00:14:18] Eric (Host): Well that seems suspicious. Kinda like you were talking about before. So they said, tell ’em you’re buying some appliances for your home. Tell him, you know anything but certain things, don’t say A, B, or C. And if you don’t answer, one of the guys said, I tried not to answer. I said, it’s none of your business.
[00:14:33] Eric (Host): And they wouldn’t let him get his money out. They called a supervisor over. It was a big to do. It took him like three hours to explain what he does. And then finally he just kind of had to divulge this is I’m, I’m making some purchases for resale. And they’re like, okay. And I, I thought that was, it was incredible that, that that’s actually currently happening, that they would withhold his own money.
[00:14:50] Eric (Host): But they do. So the points that you’ve made today are, are golden. What closing thoughts do you have for today’s podcast besides the fact that we’re gonna give out contact info?
[00:14:59] Vance Lowe: Well, I [00:15:00] just want to end with the reason as far as, uh, your explanation. It’s the Dodd-Frank Act. Folks, you don’t own your, your accounts at the bank anymore.
[00:15:11] Vance Lowe: You are not the owner. You’re just an equity investor. The bank owns your money because of the Dodge Rank Act, and they can seize it and take it and do anything they want with it. For now, they’re accommodating you until they seize it or if they see, that’s why it’s unsafe. Okay? As far as closing goes, we wanna talk to people and tell people what is the very, very best policy for you as far as banking goes.
[00:15:36] Vance Lowe: Here you go. Now you need to open your mind and think, okay, because that’s what this process is all about. The policy that is absolutely very best for you and Seth, you tell me if you back this up, is the policy that you put in force yesterday
[00:15:52] Eric (Host): makes sense? Oh,
[00:15:53] Vance Lowe: I don’t have a policy to, I don’t have that policy.
[00:15:55] Vance Lowe: Oh, second Best will be the policy that you put in [00:16:00] force today. That second Beth, oh, you don’t have it ready to do today? Then let’s go to third best. Then we do it tomorrow. Mm-hmm. Or fourth or fifth or sixth. Best. See folks, the thing is we trick our minds all the time and into the weeds, so to speak. We put off making, you know, good decisions.
[00:16:21] Vance Lowe: I have people say all the time, yeah, I’m sold on this, blah, blah, blah. But you know, I wanna get all my answers, everything first, you know? How do you describe water being wet? Unless you jump in. Yeah. Then you can tell if it’s cold or not, or experience everything else. So folks, it’s just noise until you pull the trigger and you have it enforced.
[00:16:43] Vance Lowe: If you lose a year, you’ll never get a a policy anywhere close to what that older policy would’ve done. Okay. In our little book, we show how a penny doubled or 30 times equals over $5 million. What happens if you [00:17:00] lose one day? You just lost $2.5 million. Yeah. Okay. The same thing with investing. It’s the back end that counts, but you have to start today.
[00:17:09] Vance Lowe: That’s the very best policy for you. You can always add, you can always diversify, but you can never go back. You can never reclaim. You know what you have, so hopefully we have our clients listening. They’re smiling. Hey, I, I got that one. Okay. Because the future, they’ll change Since I’ve been doing this, since Seth has been doing this, they’ve changed these contracts and each time they’re a little bit worse, but they still work.
[00:17:36] Vance Lowe: Beautiful. Okay. They don’t go back to what’s in Nelson Nash’s book. You know, Nelson Nash’s book really showed a lot of high cash value, where we’re very close. To those numbers, especially during the banking. You know, the policies are a little more restrictive. They put a little bit less in there. So folks, it’s important that you understand as you learn and you listen, that you act upon what you do and you leave the old [00:18:00] behind.
[00:18:00] Vance Lowe: You leave the falsehood, the noise behind, and you just go forward.
[00:18:05] Eric (Host): All right, Seth, let’s give ’em some contact information so they can get that policy today.
[00:18:10] Seth Hicks Esq.: Sure. Yeah. If you’re gonna find us@privatebankingstrategies.com, that’s private banking strategies.com. And there, when you hit our website, you’re gonna have an offer for our ebook that’s called What the Banks Don’t Want You to Know, uh, that comes to you in a, in a PDF or an audio version.
[00:18:27] Seth Hicks Esq.: Your choice if you like to listen to things on the go, we’ve made that available for you. If that resonates with you, we invite you to listen to some more podcasts. We’ve got a whole portfolio of podcasts available to you on the website. You can subscribe in your favorite platform and go through some of that content and listen to things that catch your eye.
[00:18:47] Seth Hicks Esq.: And if, uh, our ebook and our podcast resonate with you, then we invite you to take an exploratory call with Vance. Where you begin to dig into how this might apply for you. Ultimately, that results in an eight year [00:19:00] analysis where there’s quite a bit of work done for you, particularly with your financial circumstances, your family goals and motivations where we’ve roadmap this out and tell you exactly what to do step by step and to get you rocking, enrolling.
[00:19:13] Seth Hicks Esq.: That’s our process.
[00:19:15] Eric (Host): All right. Fantastic. Gentlemen, great information. Thank you for answering questions. Those that are listening. You can always email in questions, get to the website, find some contact info there for emails, email some more questions if you’ve got more. Uh, and then I just encourage you to, to reach out and make the phone call to, to talk to these guys in person.
[00:19:32] Eric (Host): Uh, gentlemen, always a pleasure. Thank you so much.
[00:19:34] Seth Hicks Esq.: Thanks, Eric. Thank you
[00:19:35] Eric (Host): so much, Eric. You bet.
[00:19:37] Outro: Did that story feel like it was 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?
[00:19:53] Outro: Please visit us at www.privatebankingstrategies.com. [00:20:00] Thank you for listening to the Private Banking Strategies podcast. Click the subscribe button below to be notified when new episodes become available.
