[Music] Welcome back everybody to another episode of the AutoAcctorneys podcast brought to you by the Auto Accident Attorneys Group where our motto is simple. We take care of you. While we're known for helping people navigate the aftermath of auto accidents, this podcast, as you already know, is about so much more. Whether it's about picking a good barber to give you a sharp fade or how to adopt a dog from a shelter so that they don't get put down, we try to help as much as possible. You'll find helpful episodes on what to do after an auto accident, how to deal with insurance adjusters, and tips for preventing accidents in the first place. But we don't stop there. As a matter of fact, today we want to talk about financial literacy. But coming from the perspective of the fact that if you've listened to any of my episodes before, you know that I'm giving quote unquote dad advice and about protecting yourself. You already know where I'm going with this. Uninsured motors protection. There are products out there. There is no safety net. The government's not here to help you. The government is not your friend. There's no benevolent private business that's out here to help you. But there are products that can help you. So today we have a very good friend of mine, Miss Brenda Wyn. She is here to talk to us about some products that are available to help protect yourself and to take care of yourself. Brenda, welcome. Thank you for coming on the podcast. Thank you so much for having me. I'm so excited. I'm so excited about how professionally you're presenting today because not only do I see your national financial literacy campaign pin, it looks like to me you've brought some work along with you. Yes, because I'm Asian. I love homework. Just kidding. Hopefully, we don't do too many numbers, but I see some of the booklets about there uh in front of you. Um before we dive into some of the practical advice that our listeners uh have come accustomed to hearing from our episodes, why don't you please just introduce yourself a bit? Tell us about you and um what it is that you do in in your space. Okay. Absolutely. Well, first off, my name is Brenda Win because all I do is win win-win no matter what. I like that. And I'm a part of a uh organization where our mission is to educate 30 million families by 2030. So, currently we're almost at 3 million. So, we got a little ways to go. 30 million families by 2030. I love a good vision. And that that's going to have I'm assuming the reason you guys came up with that number is because it's going to have an impact on that many families and their their well-being. So I mean there's also a profit portion to it as well, right? It's we're not running charities. It is it is business at the end of the day. Yes. We came up with that number because we already reached our goal before of um helping 1 million families. So our coach was like let's continue helping others. And so that's why it's 2030 by um 30 million by 2030. So actually we have a branch in the Philippines as well. So they're well way above us. Wow, that's amazing. We're uh licensed in US and Canada, but we do have a branch in the Philippines as well. Obviously, we're dealing with a global entity here, so you're wellversed and able to help us. I'd like to dive in unless you have a different place where you want to start because I don't want to get too far away from your books. But where I'd like to dive in is like I mentioned earlier during the introduction is that because of what I do, I end up dealing with people that I realize have never considered what sort of products would have helped them if they would have thought through the future and it's when they come to me it's a it's too late. Yeah. So, since we have you as a guest and your your knowledge base and and the person most knowledgeable about this industry, what I'd like to know is is there anything that you believe that people from your perspective don't think about until it's too late that kind of might be similar from where I'm coming from and what those products look like. We come from a very holistic space. So, we believe in building a solid financial foundation. So, what does that look like starting off tier one is proper protection. What does that mean? Protecting yourself from um you know events where you're going to become disabled. Your health is going to be impacted. Your wealth, you know, what's going to happen to your income if you can't work, right? So having that first layer of protection is going to give you so much peace of mind. So make sure you have the right life insurance, health insurance, disability insurance in place first and foremost, especially if you live in Atlanta, especially if you get in a car, near a car, drive a car. Yeah, you definitely need that, right? Second is debt management. So, making sure that you have no bad debt against you. And then after that, building an emergency fund. 3 to 6 months of your living expenses, right? You never know what could happen if there's another pandemic, if you get into an accident, you can't work, so on and so forth. You can you have to prepare for the life's inevitable unpredictable things. And then lastly, investments. So, it's kind of like building a house. You have to start with a solid foundation or else it's going to crumble. But I feel like a lot of people want to tackle the investment portion and, you know, get into something trendy, fast, um, paced, um, like crypto or whatever it is. And it's almost like building a house with the roof down. It's not going to work. So, the very first level, um, I'm I'm a big guy, so I'm I think of it in edible terms. It's like a parfait. Yeah. So, your first level is protection. Yes. Um we in prior episodes we've talked about different types of auto insurance. So now you mentioned um obviously health insurance that's critical. I'd love to get somebody on here that can speak about on that topic in depth. Um and then you have disability and then death or I guess technically it's life insurance, right? But in the event of death. Mhm. I'm trying to think of the average listener that doesn't have these products in place and what prevents them from from making that step. I'm guessing that one thing is they might be afraid to reach out to anyone to begin with because like well what's that even going to cost me? So just to have that conversation to begin with is there any sort of commitment involved in that? What does that look like? Absolutely. First, I think that people think that they're safe because maybe their job offers some sort of life insurance, which is great, but people don't really understand what type of life insurance they have. They're like, "Oh, I'm good. I have it through my job." I'm like, "Okay, great. How much coverage do you have?" I'm like, "Uh, I don't know what type of insurance it is." More times than not, it's a type of term um policy, so it's going to last you a certain period of time. So, it's going to expire. And also, not all insurance is great insurance. So just because it's cheap doesn't mean that it's great. So if you drive a $100,000 car, you're not gonna buy $20,000 worth of insurance, are you? Yeah. So it's hard for people to quantify how much their life is actually worth. But our formula gives you some perspective. So it's called the 1020 formula. 10 times your income. So if you're making $50,000, you need at least $500,000 and 20 times your income for a proper retirement. So you need at least a million 1020 is that what you said the 1020 rule uh 10 times your income is your minimum guideline for protection. So because why 10 is because whenever people lose lose the bread winner it takes the family 10 years to bounce back and financially recover. But that's just a rule of thumb. But if you have a newborn baby, you're probably going to need 20 years of income because just because the per next person can raise them up until they're 18 doesn't mean they're going to be fully on their own. You're going to burn through that when you've got newborns. For sure. Yeah, for sure. I love that you come with Oh, yeah. the these numbers that we can Yeah. I like to make it like easy to digest and to apply because a lot of people don't even know where to start like you said and some people think that it's very expensive or not and how much it is in general but honestly there's lots of policies out there that are good and a affordable as well. So there's two essentially just two types of life insurance policies. There's term and then there's permanent. So term typically is very cheap in the beginning. um it will go up over time, but you lock it in for a period of time, whether it's 10 years, 20 years, 30 years. Um and then there's no cash value or savings component to it, but it's okay because you need something to start with somewhere. It's kind of like renting an apartment before owning a house. Apartment's great. You need somewhere to live. And it's uh sort of like a in my mind when I think of term insurance, I'm not a real big gun guy, but I've got a revolver in the safe in my closet. Yeah, but I think if I'm if I'm going in the middle of the night to pull out that revolver, things have gone way sideways. So, I'm thinking term is like that. Term is that that thing where if things go way, you buy it young, you don't expect it. You don't want to use it. You don't think you're going to need it if it goes, but it's there in case you need it. And especially when you're young, you can get like a million dollar policy for like 40 bucks depending on, you know, the the time frame. So, I encourage every young person to get at least a million- dollar term. And why is it so cheap? It's just pure life insurance. So, in case something happens to you, then it'll pay out. So, there's not a there's some living benefits associated as well, depending on the product and the company that you go with. But, it's just pure life insurance. Kind of like car insurance. You either use or you lose it. So, it's it's kind of like betting against the company like, "Oh, I'm going to I'm going to live forever or I'm going to live a long life." So that's kind kind of So it's it's cheap because there's no other financial benefit to it other than a death benefit. Yes. And it has living benefits as well. So in case you get sick with cancer, heart attack, stroke, have a terminal illness, it can pay accelerated death benefit as well. So there are living benefits associated with it depending on the product and the company that you go with. I didn't know that. Can you tell me about that? Actually, yes, tell me about that and then we'll come back to 1020. Okay, sounds good. They're called riders. So, it's kind of like having a car and then just like, you know, adding other features to it. So, you can add on um a lot of them are free. So, termally uh terminal illness is in case that you get diagnosed with something less than 24 months left to live. They'll advance you up to the full entire face amount. So, take care of any medical bills and final wishes. Um critically ill, if you get diagnosed with heart attack, cancer, stroke, depending on how old you are, the severity of it, your life expectancy, then it'll pay out up to 90% of the face amount as well. So, even though it's a term and depending on the product, not every term product has this, right? Some term products, it's not just a death b uh death payout, it's also a terminal illness. If you have medical expenses, you could tap into it. And how does do you know what the logistics look like on that? Like do you do you have to incur a a bill from the ancologist and then turn it in or when you get the diagnosis do they just advance you the funds? I personally have not had to file a claim for any of my clients to deal with this yet. But yeah, there is you just have to show some proof. Okay. Yeah, it's not especially if you're working with like a grade A company like they're not there to like steal money from you. Like they have to fulfill certain obligations or else they're going to be discredited. So, right. I'm just wondering if it's a if it's like a a lump sum payment or it's like a Yeah, it is. Okay. We can structure it however you want to, whether it's a one-time lump sum or periodically annually if you're not responsible. I see. Yeah, you have choices. I see. Well, that that's something I had no I thought term was literally just death benefits. See, I think that's why we're here to educate everybody because everyone has assumptions and you know, we need a little bit more clarity. I appreciate that. Um well to finish that thought I was now that I know that there's different components to it. It's a little bit different but I I my assumption prior was that because it was only death benefits and the likelihood of it ever being used is so low. Mhm. Um I think there's like the actuarial tables that show yeah I'm not going to give you um numbers I don't know concrete but um yeah it's very low very low payouts on the on the term policies but it is that revolver in in underneath your mattress for worst case scenario. All right so going to the 1020 rule the 10 is 10 times your income to protect that's that's sort of the death benefit that's the protection level. Yes. than the 20 20 times your income, this is what you're looking at when you're looking for retirement retirement vehicles. Okay. So, yeah, a lot of people when you ask them like what's your ideal retirement age and how much do you need? They're like 65 and a million dollars. How do they came up with that calculation? I have no idea, but a million dollar sounds good. So, if you guys um want to look into a tool on our website, it's worldsystembuilder.com and you go to tools and there's a calculator there for your savings and it's very alarming actually. So, if you're you put in a million dollars as your goal by the time you're 65, there's a a little portion there where you can put in, you know, initially what you have, what you're working with, and then also that the rate of return of some of your investments. So, if you have something that's generating 8% or whatnot, just that's a great number. Just put it in there. And then it's like, okay, if you're 30 years old right now, you're looking to save like $1,000 a month if you don't have anything going for you right now. So, it really puts into perspective like it's a real wakeup call all of a sudden. Um, but but that's going back to that delicious parfait that I can't get out of my head. That is the that's the second layer or No, no, that was like the top layer, right? That's a top layer. So we go protection. Then what was the second thing that you had recommended? The debt management. Debt management. Mhm. And then emergency savings and then investments. So there's this is a four layer. It's a four- layer cake parfait. Cake's even better. Actually, I'm a big cake fan. You can tell. What's your favorite flavor? Do you know Kings Hawaiian out in LA? No, I've never been to there. Oh, they've got two cakes that are phenomenal. One is their chocolate dough bash. Mhm. And then it's the bakery that makes the Kings Hawaiian rolls. Okay. Okay. Right. But they've got a bakery in in California and they've got a paradise cake that's pineapples in it or something like tropical. Not the It's tropical flavored. The actual cake itself that's like pink, orange, and green. Is that the one that's looks like um New Orleans style? It kind of does. Yeah. Now I've got to This This is a segue cuz I got sidebar. We're both booties here. Okay. Yeah, I'm I'm uh I wasn't joking when I said I like cake. I'm actually surprised I don't have an album on my phone. Paradise Cake. Uh Kings Hawaii. Oh, look at that. It's right there. Oh, well, you can't see the inside of it. But Oh, it's beautiful. It's got that jalet. Oh, I'd love to get a Kings Hawaiian sponsorship. Actually, you don't even need a sponsorship. Just send me a cake. I would love to focus on that first layer of the cake and then I'll turn it over to you if if you want to delve into the other layers. But the reason I think that that first layer is so important is because that's the layer that I want listeners to start. And if you guys have a product already, anything you have, perfect. Um, fast forward if you want. But when I use the catalyst, when I when I try to procilitize about uninsured motor protection or uh medical payments coverage on auto insurance, my catalyst is if you've got a car and you're once you're on the road, that's when you need it. What What is your catalyst? Like, do you practically speaking, you're it's like a 23-year-old single female. Are you going to procilitize that hard about that first layer of cake? Yes, absolutely. I believe that as soon as you're born and you have a social security number, which is between 7 and 14 days, you should get life insurance because you don't know if you're going to develop any health issues later down the road. So really, you're protecting yourself, your peace of mind, and the heartache of what your family's going to have to go through whenever you're not here. So, it's very selfish of you not to actually have any life insurance and especially at how affordable can be less than a Netflix subscription sometimes. I think everyone should have it. It's It's non-negotiable. Non-negotiable. Everyone should have it regardless of their situation. Yes. I'm so tired of seeing GoFundMes. Oh, wow. Don't GoFundMe, GoFund you. I've been known to say GoFund yourself, please. Thank you. It's gotten to the point where I've I've just become accustomed to seeing GoFundMes. I almost expect them. But you're absolutely right. There's a product there that's available to you today. What is that? You said it you can buy it for less than a Netflix subscription. What? Talk to us about some logistics. I know you can't give us specifics based on basically it's always just based on your age. So the older you are, the more expensive it is. It's called God's law. So the older you are, the closer you are to seeing God. So the younger you are at the cheaper it's going to be. So lock it in as soon as you can. Um it's based on gender as well. So females we live longer than you guys. So our insurance is cheaper. It's based on health conditions of course and um also if you smoke or don't smoke cigarettes specifically um and tobacco use. So what also your driving record. Forgot to mention that. So, if you're a safe driver, then your rates are better as well. But if you have some, you know, uh, reckless driving, some DUIs, depending on like the past 5 years, Yeah. it's going to be a little bit higher for you cuz you're a hazard to the road. So, that's that's a great piece of information. So, it also uh not only are they doing like a urine sample and blood test or do they do that? um under 55 they typically don't unless they see something in your medical history. So a lot of times you can bypass that and also if they do then it's on the company's dime. So a lot of people also have this um connotation that or perception that because they might be don't have health insurance or it's going to cost them. No, it's it cost the company to set someone out. So don't worry. And and if they do send that out, they they got that but they're also doing a back a driving check. Yeah. they pull your motor vehicle records because it's a privilege. Like, not everyone's going to qualify for it. And then when something like a near-death experience happens, now you have this thing on your record, your driving history, and also maybe you gone to counseling or have some anxiety or whatever, and now they're like, "Oh, yeah, you have some health issues. You automatically get disqualified in some cases." So, yeah, it's a privilege. It's not a right. Is there a particular type of product that everyone should have rather? I think it's kind of like having a closet and having different pieces and articles of clothing. So, you want to, you know, load your closet with a lot of different things. So, I don't just recommend just one thing, especially everyone's situation is different. But like I said, if you're young and um you can afford a million-doll policy minimum, you should definitely go ahead and get that because like I said, it's very affordable. Um but that's just one layer of the cake. Some other things that I really love is a whole I'm sorry, a permanent protection plan. Like most people are familiar with whole life. It's kind of a little bit dated, but I think it was the alternative because you know terms expire. So the next thing was the whole life, but that's very dated. It's kind of almost like having a flip phone in today's smartphone age. Did I hear this correct? A whole life policy you're comparing to a flip phone. Yeah. And the stage, don't get me wrong, it's it can still do the job. You can still make calls and texts, but it's very dated. So, because also there's a a cash value component to it and to the whole life. Yeah. So basically whenever you make your monthly premiums a portion of it goes towards the cost of insurance and the excess will go towards you know different separate investment accounts that helps grow your cash value. So but it's growing at a fixed rate typically very low between 3 and 5%. Better than keeping your money in a bank. You are always paying on the insurance anyway. So it's just a separate component that people forget about. But there's some new hot cakes that's around. Um, if you are on social media, Tik Tok, whatever, a lot of people have been circulating buzzwords kind of like becoming your own bank or infinite banking and what they're often associating that with is called an IL and index universal life. So that's going to use the popular indices to measure their performance to credit that to your account. So um, a lot of, you know, the S&P performs around 8 to 10% on average for the past 10 20 years. So, you can use products like that to grow and accumulate your cash. So, especially if you're young and you're single, um, and you're like, "Why would I need life insurance? I don't need I don't have any kids to pass this legacy on." Well, do you want to pay less taxes legally, then you can put your money into a life insurance policy, which I don't think a lot of people think about. You said hot cake, which I like the going back to food. I was going to ask if that's the flip phone, what's what's our iPhone? So, the iPhone is the IL. Yes. And it's been around for a long time as well, but I don't think a lot of people were wellversed in it. But now with the rise of social media, people have been discovering it a lot more. And so that's what personally I have used since I was a kid. So my dad set up a policy for me when I was 12 to go to college. But because I'm smart, I got a scholarship. I didn't need to use that um that fund. I didn't even know I had that fund. I thought college funds were something that white people use. I had like not in an immigrant family, but um yeah, so when I discovered that I had it, I was already 25 and like out of college. So they were like, "Let's review your policy." And so I was very grateful that my dad started this policy for me. And at that time, I was shopping for a house. So I used that to pay some closing costs on my house. And then the excess funds, I use it to travel. I went to Thailand, Turkey. I'm going to Korea this year. So that's my like fun money. IL is for FUN. Tell me about the logistics of of an IL. You said it's a it's a great way to reduce your your tax burden. So, yeah, it's a tax advantage account. So, essentially there's three tax different um buckets. So, you have your tax now, tax later, and tax advantage. So, tax now is like any money that you're putting into an account that's going to earn interest, um you're going to have to pay taxes on it. that year. So, your checking, your savings, your mutual funds, your stocks, real estate, got to pay taxes on it that year. Then you have your tax later, which people are familiar with their 401ks, their IAS, etc. And then you have your tax advantage, my favorite. So, that's where the life insurance, the HSAs, the Roth IAS fall into. So, you pay taxes on it now. You put your money in the account with your post tax dollars, and then when you're ready to withdraw from it later, it's taxfree. So, it's kind of like paying taxes on the seed and not the harvest whenever you're ready to take it out. Especially down the hall, the tax rate's going to increase. So, you want to pay taxes on it now and go ahead and get that out the way on an IL policy. Uh, do you fund that policy? Like, can you put X amount of dollars in to begin with or do you just sort of start by paying premiums? Yeah. So, an IL stands for index universal life. So, the index because it's tracking the popular indices like the S&P 500. Um, and then universal means flexibility. Plus side, if you're doing really well in life, they have room for you to put up to like $1,000 that month. So, or like 12 $14,000 that year. So, you know, a Roth IRA, you can only put in $7,000 depending on how old you are. So, this is almost like double a Roth IRA. And then are you purchasing uh a set amount in an ILO? Like you're are you you're buying a death benefit? Yeah, essentially it's a life insurance policy, but you can customize it to fit your needs. So, I recommend at least having to $150,000 because it comes with some great benefits. Okay. And let's just use the $250,000 death benefit uh that payout uh based on your age. Um is it is it in are your payments in perpetuity until you customize it? So it's like if you want to put in for you know 10 15 20 years up to you continuously. Yeah there's different guidelines on how you can structure that. Um but yeah so basically having an IL is almost like having a Swiss Army knife in today's time. So it's a life insurance policy so protects you just in case you pass away too soon. But also what if you live too long? A lot of people kind of outlive their money sometimes. A lot of people don't have a lot of money in their retirement account. So, this could be supplemental to your other retirement options. And then also, but what if you're half dead, half life? What if you get disabled and you couldn't take care of yourself? You couldn't feed yourself, change yourself, move from the bed to the bathroom, or go to the bathroom by yourself, etc. If you can't just do two out of the six daily living activities, you can utilize that to hire someone to come take care of you, or if you need to go to a nursing home, etc. or if your even if your parents or your kids or your spouse stays home and takes care of you, they're losing income, right? You can use that to subsidize their income as well. It sounds like there's almost a portion of it that's like a long-term disability product in the IL. It's a it's a rider that costs about maybe 10 bucks if you're young. Yeah. Okay. And it's also something that the state is going to start mandating. So, you want to have your own long-term care plan. The state is about to start mandating long-term care insurance. Yes. Is that in response to what's happening in Medicare? It's always been in the works. So, it's happening very soon. Wow. Yeah. So, that's a cost that whether we like it or not, we're about to start paying for it with your taxes. Wow. You heard it here first, folks. Well, the inside scoop, you know, you probably haven't heard it first, but this is the first I'm hearing of it, and I was here. So, we're talking about the IL product. It's it's the iPhone in comparison to the flip phone of whole life is which is what my Gen X brain is familiar with. Um you you can set up like a 20 pay and let's say that uh I'm assuming it turns out to a mortgage. If it's 250,000 you want to pay 20 installments. It calculates that you have to pay X amount per month, right? Yeah. But if you have a big year and you want to gain some reduce your tax liability a bit, you do you reduce your tax liability that year or you pay the taxes on what you earn. You pay the taxes on what you earn. So whenever you withdraw the money in the future, you do pay taxes on that. So it's tax deferred percentage account. Okay. But either way, you're like, I want this in the future. You can go how many times above your premium payment? It just really depends. So, say like on the based on the $250,000 amount and if you're younger um like the 23 year account uh year old that you were mentioning before. So, the target recommended could be $200 for that 23 year old female. Um but you have room maybe up to $700 or $1,000 that month to put in more money. Um so there's just a limit that they set for you depending on that face amount. So call it $12,000 that year for easy math. So if you didn't meet that $12,000, it'll roll over to next year. So next year you can put in 24,000 and so on and so forth. Okay. So they let you do that about like four times before the IRS will start looking at you sideways. But no, it's for life insurance. So yeah, we we'll scale it back. We'll just put in like four or 5,000 annually every year from now on once you max it max out. At what point in time? Because when you mentioned social media, it clicked in my brain. And I was like, "Oh, yeah. I have I mean, I've scrolled right past it, but it's somebody with a whiteboard talking about like and they've got the circle like I borrow from here and I pay myself and I do that." So, at what point in time are you becoming your own bank and what does that look like? Can you talk me through that? Yeah. So, essentially, you want to use this to a type of account to overfund it. So, if they're recommending that you put in $300, that's just really enough to pay for the cost of insurance and have a little bit go towards your savings. So say on that example, maybe 30% of it goes towards the cost of insurance. So the rest of it will go towards your savings account, right? So um yeah, you're probably paying in like 90 bucks, 60 to 90 bucks for the cost of insurance and then the rest of it will go towards your savings account. So really, if you have a set number in your mind that you want to start saving every every month, you need to factor deduct the cost of insurance. you're like, "Okay, I want to save $200." So, you need to put in a little bit more money than that, right? But if you're using it as a investment tool, then you really need to be putting in maximizing it as much as you can so that you have something called compound interest on your side because you need time for the money to grow. So, if this account is earning, you know, on average 10%, then your money is going to double every 7.2 years according to the rule of 72. So, do you know about the rule of 72? I don't know about the rule of 72. So, that's how you calculate when your money is going to double with compound interest. So, you take 72 divided by the rate of return of what you're getting. So, if you're only putting it in an account that's earning 6%, it's going to take 12 years for it to double. If you put it in an account that earns 8%, it's going to take 9 years. And if you put it into account that earns 10%, it'll double every 7.2 years. So, this is a compound interest account. So put in as much money as you can during the earlier years so that you can reap the fruits of your labor down the hall. So it's a long-term plan at the end of the day. So it's not like a you put in money this year, you're going to take it out next year. It defeats the whole purpose because you haven't had enough time for the money to grow. So I would say safely between, you know, 10 and 15 years like conservatively, you can start pulling out that money to do whatever you want. They don't care what you do with that money, okay? They just ask you, "Do you want a check or do you want us to wire you for money?" Let's go through a scenario where it was set up on a 20-year pay. It's a $250,000 policy. So, you're at year 21, so you're no longer paying premiums into it. Is that right? Mhm. Um, what are the logistics of borrowing? It's as easy as making a phone call to your agent or to the company and it's like and you don't have to wait until 20 years to start accessing that money. It's just when that's probably the ideal time, but as long as you can look at something called your cash value and your cash surrender um account and just look at that and they'll let you access about 90% of that. So, as long as there's something there, you can start accessing it. Typically, as long as more than $500, you can start accessing it as an emergency fund if you need to. But for long-term growth, yeah, super easy to access. So, you just make the phone call or maybe go on the app if they allow you to and say, "I want to withdraw or loan the money." I would say there's a difference because withdrawing, you're going to have to pay taxes on that. But if you loan yourself the money and depending how long you've had the account, it's essentially a wash loan. So, it's 0% interest or very, very low interest, less than 2%. Is that what they're talking about when they're saying be your own bank? Yeah. You've saved it in there and now you're going to loan it to yourself because you don't have to pay taxes on a loan. And then you do whatever you want with that money. And then you are going to have to put the money back in if you want it to continue to grow. But if you don't want to, it's just going to get deducted from your death benefit. So you you take it out essentially with no cost and it's just set against whatever the death benefit payout is. Yeah. Interesting. So 250 is the example we use, but I can see that being really helpful on like a $10 million policy. Yeah, because the larger the face amount is, the more money that you can put inside that account. We went down a path that I didn't anticipate. I was it's like I I found out that the iPhone has just been released. I don't think that, you know, life insurance is like a super sexy topic to talk about sometimes, but I never thought that I would get into it. But I'm obsessed with it because I personally have had this type of account since I was young and I've been able to utilize it while I was young as well for a multitude of different reasons. So, I love it and I'm just like, why don't why doesn't everyone have one? So you make the perfect guest to come and procilitize on this. I love this word procilitize. It's uh missionaries. Okay. Right. They believe in whatever. I I'll just use Christ. The missionaries that believe in Christ so much that they will travel the world and they go to remote places to procilitize the word of the gospel essentially in the word of God. I actually talk about uninsured motorists so much that people don't realize I'm an attorney. They think I'm an insurance salesman and I'm like, "No, no, no, no." I just see what happens. And it it breaks my heart because I've this is a true story. I've I've literally It's happened more than once, but one time it happened in this building with a community member. Uh he was a father and we sat in that conference room that you saw um when you first got to the office and he came to me. It was just before the one-year anniversary of his collegeage daughter's death, and she had perished in a head-on collision auto accident uh with an uninsured motorist. And they didn't have uninsured motors protection on their vehicle. And this father wasn't here to to get a payday. There was no I could have gotten him $und00 million and it wouldn't have been. But they had a ton of she she didn't pass immediately. Um they also didn't have health insurance, so they had a ton of hospital bills and obviously the additional expense of the burial and and everything that comes along with that and and the practical thing of the vehicle that was a family vehicle that she was involved in the accident with. And I had to sit there. He was older than me and I was essentially, for a lack of a better term, educating him about the fact that there's there's really nothing there. Yeah. There are steps that you could take ahead of time before it happens to to buy things in the marketplace to protect you, but after something like this, there's no the government's not going to step in. There's no safety net. So, because of that, and then that that's like the most catastrophic level. um just on a daily basis it's people being involved in accidents that there's just not enough money to forget their bodily injury it's not enough money to to repair their vehicles and so I'm having these conversations and being like well look there the thing that I get most is that it's not my fault so it's not fair I'm like yeah I understand I'm not saying that it's not that it's your fault but it there is no concept of fairness right you know in reality So, uh, I procalotize. I forgot how I got down this track. I procilitize about these different products that do exist. And sometimes it's not even products. Like, I'm not trying to sell anyone on your services, although they should definitely reach out to you online. I actually made a note of your handle. It's brenda.financial. B ren da.financial. That's Instagram. Yes, that's my Instagram. Um, so DM Brenda if you've got any questions. She's a guest here, so you already know that she's more than helpful and more than happy to take care of you, but I want them not just to look for products, but even um set things up. There's a lot of things that they don't cost money. That's why we have these books here. One of them is called Saving Your Future. So, it's a really short read. A fifth grader can read it, understand it. So we break down financial concepts in a very friendly way and then we have this workbook to follow along with it. We do free classes every day Monday through Friday on Zoom. Really? Yeah. A live live instructors. So you can get on there to learn about different topics such as building savings and wealth, how to increase your cash flow, how to manage your debt, preparing with proper protection. So you're going to learn about five different types of life insurance on there, your health and your wealth. So, a little bit about healthcare and stuff as well, understanding asset accumulation strategies for investments and then long fulfilling long-term goals. So, retirement and some estate planning in there as well. That was perfect timing. It's like right towards the end of the podcast, you're like, "By the way, this is what we what we do and this is why these books are here." Exactly. I love that. We'll um if you can work with Holly after the recording, we'd love to get the links. Absolutely. Uh to sign up. I'm gonna come and join. Yes, I I would love to do one of those classes. Uh Brenda, one of the things that I like to do on each episode is, you know, that it's about providing practical advice and and procilitizing. Is there anything that you feel like we didn't discuss or something that's in your heart that you really believe that listeners should know about? something that you know that maybe people don't take into consideration, a topic that we haven't uh hit on that you feel compelled to share with our listeners before we leave. It's not really a topic, but it's one of my favorite mantras. It's called start before you're ready. So, I just love looking into things and sometimes we we over complicate anything, whether it's starting a business or looking into different types of financial products for you because it feels overwhelming. Just do one little thing, a micro step to get you to where you want to go. Don't, you know, over complicate things. Clarity comes from action, not thought. So, just do it. That's beautiful. That's it's it's almost like you prepared for that. I literally wrote that down. That's awesome. You should We got We got a regular uh veritable Tony Robbins with us now. That's awesome. Start before you're ready. I think that's really great advice actually and and it makes a lot of sense both in terms of how to live life in general, but also when it's time to make the sorts of decisions like we talked about today. Well, thank you again. Thank you so much for your time. I appreciate you coming. I'd love to have you on the show again in the future. Thank you. Thank you so much. It was such a blast to be here and to reconnect with you and to educate your audience. Awesome. Listeners, as always, I'm going to ask you to like, comment, and share. If there's anything that struck a chord with you, please leave a comment. If you think that anyone can uh glean some benefit out of what we covered today, share this video with them. As always, my number one fan and listener, mom, I know you're watching every episode. I love you. Thank you for watching. I'll see you next week. Take care, everybody. Bye.