IBC is Caught not Taught

0:00Welcome to the Life Success and Legacy Podcast. We're glad you're here and we hope you enjoy the episode. Hey everybody, welcome back to the next episode of the Life Success and Legacy Podcast. My name is Chris Bay and I've got a few mics joining me today. How are you gentlemen? Good, good. Awesome. Doing well. Little celebration in our team. One of our team members had an accomplishment. One of those big harry audacious goals that he accomplished. One of those bucket list items. Michael Crawford, tell us about what you have done. I've recently passed my private pilot certificate checkride so I'm now an official private pilot. Congratulations. Thank you.

1:00Right, so we are buying a whole bunch of life insurance policies on the team and we're all going on flying together. There we go. Big accomplishment. Where was your inspiration from? Is this something you've had since you were a little boy? Did you have a family member that was a pilot? Where did it come from? Yeah, my grandfather owned a small plane when I was a kid and so we used to fly quite a bit and then my grandma got sick and he had to sell the plane because he just wasn't flying anymore. Yada yada. But I grew up in Wichita, Kansas and so for those of you who don't know it is the air capital city of the world. There are more manufacturing facilities in Wichita than anywhere else in the world that build aircraft or parts for aircraft. You can't throw a stick without running into a machine shop. So most of my family all worked for some form of aviation growing up and it's just always been something I wanted to accomplish.

2:00Yeah, well, congratulations. Thank you. Well done. Feel good to be done with that step. Yeah, I bet for sure. Well, gentlemen, have you ever heard the phrase IBC is caught not taught? Yeah, where did that phrase come from? Does anybody know where that originated? I do. I gathered in the front row. You know, I remember hearing this probably in 07 08 at one of Nelson Nash's, one of the original, you know, probably first 10 or 15, 10 hour seminars that I went to. And you know, it really kind of goes back to, you know, how I was introduced to IBC and, you know, this will kind of bore you guys, but maybe not the people that are listening. But, you know, I remember when I got Nelson's book the very first time and I thought, I should a little tiny book.

3:05I'll go ahead and read it because the guy told me to read it and I read it and I thought, hmm. I literally just, it caused some curiosity in me, which, you know, if you go back to the letter that we provide, it says read the book. Why. And the second time I got my highlighter and my pen out and I went through it again, a little bit more deliberately. Like I literally said to myself when I got done with the book, I go, if half of what is in this book is true, everybody should know it, but yet is it true. And it's still just this kind of internal angst or questioning in my head, my heart that why do I, why do I not know this stuff.

4:07Here I was embarking on the age of 50 and I go, holy cow, if I would have learned this stuff when I was in my early to mid 20s, what kind of difference would have this made in Linda and I. Linda and I's life financially. And I thought, oh my gosh, so I literally I read it a third time and that is when I made a decision to change careers, not just start it yourself, but no, I'm going to teach this. Yeah, yeah, most people would say, oh, this is interesting. I think I'll, I think I'll get a policy and see how it works, but not Mike Everett. No, you guys all know how I am and we, we crack up at this. I'm the guy who gets on the high board. I take a full bounce. And after I leave the board, I decide to look down to see if there's water in the pool. So, Everett, I'm curious. You were around 50 at the time. So you had been, you've lived enough life to try some different things. Oftentimes for people, it's one of the biggest challenges is is kind of making space in their brain.

5:24Of the stuff we've been taught to make room for a different way of thinking, had you already made that process where you were like, oh, this stuff hasn't worked. So you had that space in that curiosity or, or did you have some of that way to second that's not what I, that's not what I believe. I had a ton of residual bad stuff in my brain. You know, I had done a 401k. I had an IRA. I had mutual funds. I had a stock account. And, you know, I go back to the wind current a lot. But I literally thought after I read this thing the third time is that all there is that life has to offer because I was still in debt up to my eyeballs at age 50. And I thought, now once you read this stuff, there's an implementation that takes place. And that's another whole story in itself. But yet, you know, it, I say to almost every single person that I talked to about, I bc.

6:37Think about the job that you are in right now. Think of the very first day that you've started your job. Did you understand everything that you are doing today in that job? And they said no. And I said, so over time, there is a learning curve that happens as you are proceeding and moving forward in that job. And then the follow up question is, if you went to your job today, can you do almost all of it blindfolded? And yes, is almost the answer, whether it's three, five, seven, ten years, that doesn't matter. It's just that there, there's a rhythm that happens in a job that all of a sudden you know you can do this. I bc is no different. When you start your I bc journey, there is so much learning and so much so many nuances that you kind of go, wow.

7:46I don't know if I'm ever going to get this, but then as you are getting in I bc shape, it is absolutely amazing. And that does not happen overnight. I want to, I'm thinking about clong and Everett. Both of you guys, when you first learned about I bc, Everett for you was reading Nelson's book. And, and was there anybody coaching you and clong that I want to come to you to about was it the book that introduced you to it and then your story because you didn't have anybody coaching you. In fact, life insurance company said, well, I'll let you tell that story because it's a good one. Everett, did you have anybody? Did you have anybody teaching you? So you feel like just reading the book, you caught it. I did. Okay. I did. And it took, it took multiple readings for that, that flicker to turn into a flame. Okay. Okay.

8:47And clong for you, what was your first introduction? Was it Nelson's book or was there another source? This is, you know, going way back 2011 or so 2012. Yeah. That time I was still, you know, in Hawaii, we were in Hawaii. Jackie was very young. And we learned about the book from, you know, someone that was just kind of presenting the topic of I bc. We both, you know, P and I read the book and we're like, oh my gosh, this is pretty amazing. Like said, like Everett said, if this is true, if half of it's true, we got to, you know, get the started with a young family. And before then, I'd been invested in the stock market, you know, and I, you know, at that point, more recently, remember the 20, you know, 2008 meltdown. And that was still very sore. So we were looking for that, right? We were looking for that. And unfortunately, the guy, you know, learned it from, at least I got the book and learned of a concept. He couldn't really help us.

9:52So we went all over island and ended up at one of the big four, you know, the shall not be named companies, you know, you will, you know, dividend paying. That's great. And I told them, hey, you know, I want an I bc policy and they were like, well, we don't have that like what is that? So I talked to a couple of reps, you know, finally got it up to the manager. And she was like, what this isn't something we carried, right? Because you were, they were thinking it's a product and I was explaining notes. It's the way it's built and you know all this kind of stuff. So long story short, she said, hey, Mike, you're smart guy, you know, you can take this test and you can basically, you know, write your policy for yourself just as you want it. And then literally that's how, and I was like, yeah, I want that. And you know, why not, you know, I like to take the test. I could do this. But I told her to, you know, I'm not, I'm still working, you know, I'm still, you know, active duty. And of course, an insurance, you eat what you kill. So it's not a, you know, huge commitment necessarily.

10:59I just needed to get us started, you know, it was that, that urgent for us. And no, I didn't have a mentor or a coach and for years. I mean, until I found, you know, you guys fast forward, you know, a couple of years. That's one of the things really took off. But to, to every point, you know, I think we talked about it earlier, we can't wait until we have all the answers necessarily. When you recognize something valuable to get started with, like your job, you're not going to wait until you master the job before you get it. You get it after the job before you accept the paycheck and start working. Right. If they'll hire you, you get in there and you learn it. Yeah. So that's how we felt with our first, you know, Santa policies. Crawford, well, you and I were about the same timeline when I started investigating IBCO is in 2010, 2011. And again, there was in a community, a parent at the school where I was school principal said, I said, how do I learn about this? And then he said, you need to read that black book, Nelson's book, becoming your banker and then connect with the guy named Mike Everett who I knew.

12:07And that's how we started, but there wasn't a community in and in fact, it was so difficult because nobody was doing this or talking about it. And then they would like to be highly skeptical and tell us that we were doing something really, really wrong. Is it legal? Yes. Yeah. Oftentimes and Crawford heard that all the time. Oh my God. Like Crawford, you're a learner. You like to know a little bit about everything. And so we've heard the story of, you know, Everett comes in and he wants his website redone. You're like, yeah, we can do that. And he gave you a stack of stuff in the book and you jam it in your bottom door. But you started reading it. Yeah. And did you, what was your experience? Was it like, was there resistance at first or was it, nope, this makes sense right away. I was already super frustrated with like normal investing. I didn't have a lot of extra cash and what I was putting towards the traditional systems were, it was just so slow and volatile.

13:17And you know, it gone through the crash of O8 and you know, trying to rebuild from there a few years later and it just felt. And I mean, I think it always was put at that moment, put into perspective that Mary was pregnant with Milo. And so like thinking about, oh gosh, the future is here. It wasn't, oh, I'll wait till tomorrow to figure this out. So I think when I read the book, I had the thing that both, I think everyone, one of you guys said is like, if this is 50% true, then this is worth investigating. Yeah. And I did, I called effort the next morning at like 715 and I said, we got a chat. Like, you know, I, I was into, I was into it. And you know, Mary was my, my rudder and helped me slow down and just make sure we were, you know, investigating the right thing and take a breath, not just dive headfirst into it. And so, but it was a really good. It was a really good feeling to kind of see that there was something other than what I'd been told I had to do for all those years that I thought could work for my family and then, you know, obviously for others.

14:28I think there's a common theme and this is partly human nature. Like when things are going well, we don't look to make changes. But I think there's a common theme with many of us and many of our clients where something's not working how they think and could there's something missing, right. And I think that something missing creates a curiosity or a hunger or a drive to look and pursue. Because, because if Mike ever, if you were all your investments were going great, if we hadn't experienced the Melta in 2008, you know, if everything was going well, we probably wouldn't have that curiosity to open the book or to listen to a podcast, etc. Well, I'm going to go back to the book now because this is absolutely perfectly timed. I think that's how I BC got started. It was through Nelson's own struggle financially.

15:31And you think about all of the and really what happened is he got on his knees and he said, Lord, help me out of this financial nightmare. And this is when all of the things in his head started changing. So I think about all of the things that has happened to. And for example, it doesn't matter if I'm doing a home project, it doesn't matter if it's it's raising the kids, it doesn't matter if it's doing something in my marriage. The struggle is where I grew the most. And I think about how we have been prepared to take Nelson's book and take the information and realize that the hardship actually creates the situation to where we are not able to see, but the hardship creates it where it almost takes the blinders off.

16:34To where we can go, this is this is something special, but then I think about what Nelson said on page 13. Because this has happened every single one of us practically everyone thought I was crazy. It was opposite to what all the experts said. And I thought, you know, there was a certain thing inside me because I'm an overexcited guy to start with. When somebody actually kind of bumped up against that, it would make me question. And I think we've all done this. It would make me question, is this really the right avenue for where we are going in our financial journey. And, you know, then all of a sudden, you start to really read and dig in and we've all done it.

17:43Our books are so marked up and so highlighted and so beat up that we have fully bought in to the journey that we are on now to the point where we do no other financial products, no other thing that we had done prior to this. None of us have a 401k or a 403b. We don't have mutual funds. We don't have annuities. We have no money in the stock market. And I go, when you tell people that and they are learning about this for the very first time they're going, what is wrong with you. And so I just, I love the fact that we are outside the box thinkers and that we're doing what nobody else in the in the whole financial industry is doing because it wasn't working for us.

18:47Yeah, I think there has to be so and it can come from various different angles, but there's got to be something that sparks a curiosity, I think. Yep. And it can be going through hard times. It can be a curiosity of, okay, I'm leveraging a line of credit at the bank for my investments, but the bank owns that line of credit and the terms and all. And I think there's a different way to do that. Right. So there's something. And I think it might be different for different people, but there's something that moves people beyond the arrival syndrome where they think they've got it all figured out. And it creates a seed of curiosity where they're willing to dig in and learn what's different now from when we all were learning about this is there's there are platforms of learning. In fact, in some cases, there's too much because there's misinformation out there, right. But now there is and what we've tried to do is create a variety of learning styles so people can enter from a pathway that works for them.

19:55We have a community of like minded supportive people that can interact in a variety of different ways, right. And so can you imagine if we were learning about IBC from LSL, if we were entering, what would that be like, how different would that be if we were coming into learning about IBC now within the context of life success and legacy and all that has been built within the community. Can you imagine that? How different that would be. Yeah, for sure. Mike, you referenced earlier off air Robert Kiyosaki and a little mindset, because I think the mindset is so important here. Can you can you unveil that a little bit for us? And if my memory serves right, he said something to the effect of all the content in the world, like the facts and the information doesn't matter to your brain or your, you know, until you're, you know, you're in the right context, right.

20:57So that spoke more to just data and information as important certainly, but if your mindset isn't in the space, then the right space to accept it, absorb it, you know, to do something with it and implement ultimately, then it's just like it's impervious, right. You hear that joke about, you know, you never can argue with an idiot, you know, they'll drive the reality to experience, you know, because facts don't matter to the people that don't care ultimate and caring is where it starts that curiosity. I'd much rather have as a teacher, right. I appreciate the smart kids that come into class and do their thing really the ones that you remember most are the ones that didn't have it all together, right. But they were curious and they were what they wanted to learn. So love the fact that you just said curious Albert Einstein on page. Yeah, exactly. Imagination is more important than knowledge. And of course, then Nelson's whole thing is the infinite banking concept is an exercise in imagination, reason, logic and provis, prophecy.

22:00But imagination first, right. Imagination because all of us, you know, all of us kind of. We had that curiosity that was lit on fire, which literally if you go back to exactly what we were talking about, that curiosity is what caught us. And then it moved us in the direction. And there and that curiosity, I think back to the quang's point is, as he was talking about Kiyosaki is because of all of our context, the things we'd experienced or seen in life, our context. It's almost like the context was the soil. And then that curiosity, you know, it planted a seed and then that curiosity watered it, right. And now what we've tried to do is for those people. And when we say it's caught, not taught, I've said this before as an educator over 20 years, right.

23:06I struggled when I first heard Nelson say that I was like, no, we can teach people this, but I, but he's right. And not everybody is going to catch this. You can't teach it to everybody. There has to be that seed that curiosity, that open mindedness and that willingness to learn. And what, what we tell people is, look, we're not going to chase you down. Right. We go, we were clients as well. We don't like that whole process. We're here. We've developed a ton of learning styles, a ton of different entry points. So if you have the curiosity, man, we want to have that conversation. We want to find out what you're learning style is. We want to provide you those through those learning tools. Right. But we're not going to chase you. Yeah, I think that's one of the things that I find that people in my circle find hilarious. And I think that those who are clients and who are not, they, there's a few that they've circled back to me half a dozen times with like really genuinely curious questions.

24:15But I never pressure, right. It's not, I'm not sitting there going, okay, here's an application sign here. Let's go. I might say, hey, if you're ready to move forward, let me know. Probably the furthest I'm going to go with like being aggressive. And one of the guys, you know, that I've talked to a few times, he's always just like, I don't understand how you're a salesperson. I said, I'm really not. I said, I'm a coach. I said, I teach people this concept. And whether or not they want to go further is on them. I can't force it because one of our core principles as a team is that we have to put you in a better place tomorrow than you are today. And by forcing you to do it, that does the opposite. And I'm, you know, we're not pushing a row. Yeah, pushing it. On the other side of that, you know, for the right people and this speaks to, you know, finding the 10% right. We, we, we're here, right. We just, you know, have to be more available and exposed.

25:18And we can find us. Because to the right people, they're looking for what, you know, we provide and will continue to strive to do, you know, for every day. I can't tell you how many times I hear from folks that are like, man, I wish I'd found you, you know, last year or, you know, you can see your inspire. And so we're going to do better, you know, as far as putting out our presence. But it's, they're out there. Yeah. Yeah. Yeah. That's, we've talked about that's another topic for us to, to touch on in another podcast is that idea of building or finding the 10% for sure. That's, that'll be a fun one. We may do that one next. So, in pulling this together, what we've, what we've discussed a little bit is Nelson himself. He came across the idea of infinite banking in a moment of context.

26:21Right. He had a variety of things that had happened in his life. If you've read Nelson's book, we recommend that you do. And he, he was at a place of hardship. Right. And oftentimes it's something like that that opens the mind to be curious to learn. And then what we've tried to do at life success and legacy is to develop those pathways for people to learn, based on their learning style. And then there's a community we talk a lot about. It's a lifestyle. And I will say as we wrap up, even in my first two, two to three years of actually utilizing IBC myself, I still struggled with it. And it was because it, it wasn't a lifestyle for me. And I didn't have a supportive community of like minded people. And I think that's very different for people within the LSL community now. They come in and they are welcomed with open arms. They are asking questions. People are sharing.

27:21And I think my experience would have been very different. Had I had a difference context or different situation for sure. I did. I mean, at least you have my guess. I was fortunate to have my favorite. But you know how it is. When you've got other people, third party, all that, that makes a huge difference. So, all right. Any any final comments around IBC is caught not taught before we wrap this one up. Good stuff. You know, I'm going to touch on the community. I just a little bit. You know, we do our Monday night webinars. We do our boot camps. And now we've got the mastermind coming up. We got a front porch at tonight as a kind of this reporting. So if somebody wants to find whatever their avenue is to learn about IBC, it's out there. But yet you think about when you're talking to a community, a bunch of friends who are utilizing IBC.

28:26Whoa, here we're coming up. We're come, you know that, you know, are learning together and growing together. It makes all the difference in the world. And once again, it takes time. That's part of Nelson's long range thinking you must think long range. But then because of all the different tools and educational opportunities that life success and legacy has created. We make it possible for you to get as much as you need out of this before you make a decision. And I can't stress this enough. We do not push you. We do not call you every Tuesday night to make sure you're going to do this. You are the one that has to take the initiative. You are the one that has to educate and research. Because if you want to discover where you could potentially be. Once again, life success and legacy has all the tools in the world. But you have to jump in and learn how to swim in that pond and we'll help you.

29:32All right. Thank you, gentlemen. IBC is caught not taught. Pretty interesting concept. Thanks for your input and conversation on around that topic. It's a good one for our listeners. If you are interested and curious, check us out. Probably the best place to go is our website. You can access a lot of information there, whether it's our podcast. We're now on what 10 years of recording podcast. So there's a lot of content out there. If you're new to IBC, we'd recommend going back to the early early episodes. In fact, at one point, we spend all about a year and a half or so going through Nelson's book, becoming your own banker page by page. And that's a special opportunity because you get insight into what Nelson was thinking because of my average relationship with Nelson. You're not going to get that anyplace else. There are things in the book that he wrote that is not how he actually would teach it,

30:36which is a crazy concept. But you can learn why he wrote the things he did from those, from those podcasts that we did with Mike Everett. So check us out at lifesuccesslegacy.com. We have an upcoming mastermind for our clients and for those who are taking steps towards utilizing IBC. That's going to be in Kansas City, the first weekend of October. We're really looking forward to that. A lot of dialogue breakout sessions sharing within the community. So all the community stuff that we are talking about, that's a great place to experience that. That is not for your brand new haven't read. I becoming your own banker people, right? These are people who are either clients or have done their legwork in learning and are on their way to becoming clients. So again, you can check out all those opportunities, whether it's a webinar, IBC boot camp or the mastermind, the podcast, our books, check it all out at lifesuccesslegacy.com.

31:40And we will catch you in our next episode of the Life Success Legacy Podcast. Thanks everybody. See you next time. Peace. Yeah.