[00:00:00] Intro: Welcome to Private Banking Strategies Podcast with Vance Lowe 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 an asset protected 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.
[00:00:37] Seth Hicks Esq.: Hello, and welcome to Private Banking Strategies podcast with Vance Lowe and Seth Hicks.
[00:00:42] Seth Hicks Esq.: Vance, how are you today?
[00:00:44] Vance Lowe: I’m doing great today. I feel great.
[00:00:46] Seth Hicks Esq.: Awesome. We’re gonna get into a topic that folks, I think, will be interested in hearing about, and one of the things in our practice and experience that we find is that high income alone doesn’t create [00:01:00] wealth. What if I told you, Vance, that earning more money has almost nothing to do with becoming wealthy?
[00:01:06] Vance Lowe: I think the common reaction would be, “I think you’re ridiculous. I think you’re crazy.”
[00:01:11] Seth Hicks Esq.: Yeah. Most people think if I made another $100,000 a year, if I made another million dollars a year, my financial problems would disappear. But that’s not our experience. Look around. We got doctors, and lawyers, and entrepreneurs making half a million to a million dollars, but they’re stressed, still don’t have the ability to meet cash flow needs and payrolls at times.
[00:01:31] Seth Hicks Esq.: They’re making seven figures but still don’t have enough.
[00:01:35] Vance Lowe: That’s commonplace. My whole career is dealing with people who make great income, but they’re not wealthy. They live paycheck to paycheck. So there’s something definitely wrong there that needs to be addressed and needs to be corrected.
[00:01:50] Seth Hicks Esq.: How is it that you’ve got professional athletes that enter the NFL or the NBA and they sign multi-million dollar annual [00:02:00] contracts with bonuses, and then they have a short 7 to 10-year career and they’re destitute?
[00:02:06] Seth Hicks Esq.: Lottery winners lose everything.
[00:02:08] Vance Lowe: That’s a big phenomenon, and everybody’s heard this. The news loves the disaster, the money, the person who makes it to the top, becomes wealthy, the athlete or whatever else, but they also love to advertise the crash. And there’s so many people out there, especially maybe on the athlete side, who totally devote to their profession because they’re good at it.
[00:02:32] Vance Lowe: They’re extremely good at it. And then the mind trying, tries to transition, I think, a little bit into money. Well, if I’m as good at this sport, then obviously I’m gonna be good with money. The doctor, man, if I’m saving lives, if I’m doing surgery and I’m able to save lives, I should easily be able to do investments and everything else.
[00:02:54] Vance Lowe: I’m a smart individual and it should carry over. Uh, on and on is the [00:03:00] case with doctors- Chiropractors and any prof- profession, even lawyers, those who make six-figure, seven-figure incomes. I had an individual client that came to me. He had been making, his annual income was a million dollars, and he had a between a million and a half million dollar bonus every single year.
[00:03:22] Vance Lowe: And I asked about his retirement account and how much money he’d built up over this last 10 years. Zero. And he said, “That’s why I’m coming here. I gotta figure this out.”
[00:03:31] Seth Hicks Esq.: This is a massive problem no matter how much money you earn if you don’t know how money works, and you’re measuring wealth in, with the wrong measure.
[00:03:43] Seth Hicks Esq.: So here’s the question that really is a fundamental question you’ve gotta ask yourself and that we train our clients to ask: Where does your money go after you earn it?
[00:03:56] Vance Lowe: I don’t even think a lot of people honestly understand where their [00:04:00] money goes. They know they have to pay bills and everything else, but as long as the money stretches and they don’t have to go into debt, and maybe they even go into debt because they put everything on credit card and don’t keep track of it, they don’t have a clue.
[00:04:14] Vance Lowe: They just live from paycheck to paycheck, and that’s not healthy.
[00:04:19] Seth Hicks Esq.: And even if they’re following a budget and they understand that it flows to taxes, and my mortgage, and my credit cards, and my car payments, and these other designations, they, what they don’t understand is that they’re losing control of the money.
[00:04:35] Seth Hicks Esq.: Every dollar leaves their hands, and they don’t ever get control of it back again. Those dollars do not return into their control.
[00:04:44] Vance Lowe: And the media out there talks to us about the Warren Buffets, the people and some of the families and successful individuals who are wealthy, and they may make comments. And we’ve heard these comments [00:05:00] throughout our entire lifetime.
[00:05:01] Vance Lowe: “You should never spend principal.” You’ve heard that, I’ve heard that thousands and thousands of times. But the fact is, it’s true. You don’t have to spend what you’re doing. And everything that we’ve mentioned today that goes through and we spend money on, we’re using principal to live our lifestyle and buy the things that we need, and we’re making maybe a critical error.
[00:05:27] Vance Lowe: And it might be worth this questioning, where is my money going? What am I gonna do about it?
[00:05:33] Seth Hicks Esq.: And for folks out there who have never been exposed to private banking strategies or the infinite banking concept, and we’re saying, “Keep control of your money. Where does it go after you earn it in the first place?”
[00:05:44] Seth Hicks Esq.: Like I told you, it goes to taxes, mortgages, credit cards, car payments, retirement plans, insurance, investments, college savings, vacations, business expenses, a new car. We talked about athletes. A lot of things that you’ll see them is spending consumptively. They buy a Lamborghini and a big [00:06:00] house for every member of their family.
[00:06:02] Seth Hicks Esq.: Those are many times consumptive. How do they get control of their money?
[00:06:08] Vance Lowe: Right now, the average family’s thinking about spending and worried about, am I spending too much? Am I spending here? Am I spending there? Their focus is in the wrong area. It’s 180 degrees. They should be focusing on, how much money this month can return to me or can I put to work to make me a dollar?
[00:06:28] Vance Lowe: Am I putting a dollar to work this month? Am I going to be better off this month than I was last month? That question is not entering their minds, and that is maybe the thought of the day. How much, what are you doing every single month to better yourself, reversing that outflow to inflow?
[00:06:45] Midroll: Did that story feel like it was about you?
[00:06:48] 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 [00:07:00] you feel stuck? Let us help you get unstuck. Are you ready to take action and get your own private bank? Please visit us at www.privatebankingstrategies.com.
[00:07:15] Seth Hicks Esq.: And I think that is the question that the wealthy, successful private banking folks ask. They say, “How do I keep control of the dollars that I earn? How do I keep them revolving in my economic system?” And for some, that just seems like an absolute foreign concept of there’s no way to do that. I spend money, and it never comes back.
[00:07:38] Seth Hicks Esq.: But it’s not true. It
[00:07:39] Vance Lowe: is. It really is, Seth. A lot of people just think, oh, man, they’ve got to know some secret. They’ve got to know something that nobody else knows, and they have to be lucky, and they have to be from wealthy families before and carrying on. That’s not the case, folks. You would be absolutely surprised if you change your [00:08:00] focus on how money works.
[00:08:02] Vance Lowe: Start finding out how money works and implement it in your life. There’s not a lot of changes you n- need to make. This is not rocket science. This is really easy, but it’s the focus.
[00:08:13] Seth Hicks Esq.: That’s right. Well, think of it like, sometimes the way I visualize it is once you earn money, you pour that money into a reservoir instead of just buying water.
[00:08:24] Seth Hicks Esq.: You store your own reservoir, and that’s really how wealthy families think, is they don’t just accumulate assets, and they don’t keep buying drums of water. They build a reservoir of water.
[00:08:37] Vance Lowe: It is, and it’s just kinda like the banking concept. What money comes in under our control , we wanna keep under our control.
[00:08:45] Vance Lowe: So i- it’s a little bit different philosophy, and it’s taking that principle and valuing it and putting it to work, using it, and getting it to return, and it’s not that complicated. It just is [00:09:00] not. But the education to find that out is very sketchy. It’s very hard to actually find information on how to reverse from spending principle to using the money and getting it back.
[00:09:12] Seth Hicks Esq.: We could have discussions/arguments with sophisticated financial planners that do things 180 degrees differently, and they’re entirely wrong. And so the systems that are created, they’re, they are not complicated, and they are not hard to understand, but it is a system and a different way of thinking. It’s actually the appropriate way of thinking about money, and you create a system that cycles money back into your reservoir.
[00:09:41] Seth Hicks Esq.: Let’s look at it like think of a picture with mountains, and you’ve created this reservoir in the middle of the mountains. And all these streams and creeks and rivers, they flow right back into the reservoir. Whereas instead of flowing out and down the land to somebody else’s property, irrigating somebody else’s [00:10:00] crops, you have all of these streams and creeks flowing into a river that flows into your reservoir.
[00:10:05] Seth Hicks Esq.: How do you do that?
[00:10:06] Vance Lowe: That’s the $64 question. And so we go back to the question of the day, why is my income not adequate? If I’m making six figures or whatever it is, how can I make that work and how can I be better off and grow the wealth that I need to, at some point, consider myself financially independent or be a lot better off?
[00:10:29] Vance Lowe: So folks, that’s the question, and that’s what we need to seek the proper answers for. And you know what, Seth? In all of my experience in dealing with managing assets, money, and market, everything, the solution is not a product. A lot of people are sold, “Oh, well if you go buy this or if you do that, it’ll solve your issue, it’ll solve your problem.”
[00:10:53] Vance Lowe: No, it won’t. What needs to happen is a little bit of education, a little bit of forced [00:11:00] recognition, so to speak. Effort put in. The only difference between a successful athlete and one who is on the bench all the time is only about 5% effort. All the successful guys out there, they put that extra effort in to what they want.
[00:11:16] Vance Lowe: If it’s money, and we all are concerned with money because it’s our lifestyle, it dictates how we live. Money isn’t happiness, but the more money we have can afford maybe a higher level of happiness. So we need to make the most of what we’re able to bring in count for us. So it’s a challenge out there, folks.
[00:11:37] Vance Lowe: Are you thinking about that? Is that something that you’ve got the answer to, or do you wanna know the answer to?
[00:11:43] Seth Hicks Esq.: Yeah, if you wanna build systems, folks, that prove what Vance and I are describing to you, that you can build a reservoir, that you can have the streams, and the creeks, and the rivers flow into your reservoir, meaning the money that you earn stays within your control, and you get [00:12:00] to recycle that money, preserve control, and create opportunity after opportunity.
[00:12:06] Seth Hicks Esq.: That’s what we do at Private Banking Strategies, folks.
[00:12:09] Vance Lowe: Yeah, one little example of what you just said, once you get control of that money, the money coming back into you is never taxed again. And that increase, and that wealth, that buildup is done and occurs, no taxable events.
[00:12:27] Seth Hicks Esq.: Folks, there are so many valuable benefits to the system that we’re describing that really blows the mind.
[00:12:34] Seth Hicks Esq.: And if you’ve never heard about it, you’ll be challenged to believe that it’s even true. And so we’d love to have you join us on this journey and learn more a- about what we do at Private Banking Strategies. We’ve got a website, privatebankingstrategies.com, and w- we’ve got a book that we’re offering our listeners called Secrets the Banks Don’t Want You to Know.
[00:12:55] Seth Hicks Esq.: It would be secrets that Vance and I definitely want you to know so that you can increase [00:13:00] your wealth position and implement these systems. But they’re secrets that the banks don’t want you to know because they’re making money off of you hand over fist. So hit our website up, folks. And Vance and I have also created a tool in the bottom corner of the website that says, “Put Vance in your back pocket.”
[00:13:17] Seth Hicks Esq.: And you can ask any question you want of Vance just like you were on the phone with him or you were on the phone with me, and it will pull up the resources that we’ve published and provide you with content that you can educate yourself on these topics, folks. And that’s completely free for you right now.
[00:13:37] Vance Lowe: Just do yourself a favor. If you’re not satisfied where you’re at today, and if you think it’s gonna be different tomorrow without making changes, you’ll be wrong. So do yourself a favor. Change something today. Learn something new. Implement it. Start making money work for you instead of you working for your money and spending it so that [00:14:00] someone else gets it.
[00:14:01] Seth Hicks Esq.: Thank you, folks, for joining us on this podcast, and we look forward to seeing you on the next one. Thank you. Bye for now.
[00:14:07] Vance Lowe: Bye for now, folks.
[00:14:09] 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.
[00:14:21] Outro: Are you ready to take action and get your own private bank? Please visit us at www.privatebankingstrategies.com.
[00:14:32] Outro: Thank you for listening to the Private Banking Strategies podcast. Click the subscribe button below to be notified when new episodes become available.
