Infinite Banking Insights with Jeremiah Dew

Olivia: Hello and welcome to the Control Your Cash podcast. I’m your host Olivia Kirk 

Tim: and I’m Tim Yurek 

Olivia: Today we have with us Jeremiah Dew from The Cash Compound and The Banking Bros. 

Jeremiah: That’s right. We have a special edition podcast as well. We’re co-joining and co-creating today. It’s the Cash Compound Podcast with Olivia and Tim.

And, uh, we are going to be interviewing them. Maybe they’re interviewing us. How is this going to work? Who knows? It’s going to be a great conversation between the three of us. In the infinite banking space. So here we go. 

Olivia: Awesome. 

Tim: So Jeremiah, I love your story on how you and Jonah came to know or understand infinite banking.

And before we get there, give us a little background because you also have a really, uh, neat history prior to Infinite banking, uh, you know, as, as the voice, I believe of college basket, was it basketball for Clemson University? 

Jeremiah: Yes, indeed. So, yeah, I have a background in speaking and emceeing and family entertainment.

Some of that was in sports, but a lot of people saw me do that in my neck of the woods, in the upstate of South Carolina, that’s the Northwest corner of the state. For a long time, 13 seasons through the end of 2022, I was the MC for men’s and women’s basketball, Clemson Athletic, Clemson University. As well as prior to that, I had been the MC for a minor league Red Sox team in our neck of the woods.

So a lot of t-shirts got thrown in my day. That’s, that’s kind of the main thing, as long as you, you get a couple of friends, throw a couple of shirts and make everybody else mad. That’s, that’s my job. 

Olivia: I think everyone can relate to that. 

Jeremiah: Yeah, you, uh, so yeah, so those types of things were what I was doing.

My brother was completely different line of work. Uh, I’ve got some years on him and Jonah who runs The Cash Compound with me got out of school and went into the banking world and this is um, this is a retail banking. So he’s he’s in the uh, uh, the call center taken, taking people’s complaints, answering questions about the checking and savings accounts, that type of stuff.

And he kind of worked his way up into a little bit of a supervisory role. So if you’re irate enough, you can reach Jonah. And, uh, and then after that, he, uh, saw an opportunity in, uh, property and casualty insurance, PNC still in our neck of the woods, when we were also in a networking group where we discovered this idea.

Behind infinite banking it found us. We found them people told us about it We’re sorely confused, but that’s where things got to about 2015 when we first heard about this concept 

Tim: So talk talk to us a little bit about uh like that learning process when you get exposed to this idea And you’re like, I don’t know if it works maybe it does, maybe it doesn’t.

You sort of check a little bit under the hood. You get some answers, but you don’t get all the answers, but you’re like, wow, if this works, this might really be something. And then you just keep, keep tinkering with it. Cause that was literally my experience. But, but tell us how, how that whole thing evolved and you got to the point where you’re like, hey there’s some teeth to this. 

Jeremiah: Well, yeah, exactly. That’s exactly what happened. So I was told about Nelson Nash’s book. Now, everybody out there who follows us and you heard about this guy, who is this R. Nelson Nash guy. And I heard about his book. The fifth edition of Becoming Your Own Banker is what I picked up shortly after hearing about in a very crude and badly put assumption about what was going on, what infinite banking was.

So I got the book, off Amazon. I read the book and I thought, oh no, it was just like being back in high school. I just read this book. I can read English. It didn’t take me all that long, but I have no comprehension of what just happened. What is, what is they, what are they talking about? What is this? And of course I skipped over all the charts.

I mean, there’s nothing to read there. There’s just numbers. So I am not familiar with insurance. Now I know what life insurance is, but I’m not familiar with utilizing it for any type of concept. And I’m a Dave Ramsey guy at this point in my life. So personally I had saved up all my money. And Dave Ramsey said, don’t pay other people interest by getting into credit card debt.

So save up your money and then, you know, spend it, go back to zero. That’s all I knew. So, uh, what I was reading, I didn’t understand. So my next feat was to go to YouTube. I’m a pretty visual guy. I do marketing. I understand being in front of the camera. I like video. I go to YouTube. I look up all the bold print, right?

That’s what you do in high school. Look up all the bold words and try to understand what they mean. So all of these words inside his book that I don’t understand. I start YouTubing them, googling them, looking for people who made videos or explanations on what is this stuff. I don’t understand what financing is.

I don’t really understand what cash value is. I don’t understand these. There’s so many analogies from who became our mentor and Nelson Nash that have to do with Airplanes. I don’t know anything about aviation. What are these guys talking about? Like, what? I don’t, what? What is it? I thought we were going to get rich here.

And I’m worried about dying because they’re talking about life insurance. Like, now they want me to die. I’m a little bit confused. So that’s kind of how it started. And then we found who became really kind of one of our earliest mentors in the game. He connected us to some of the guys that we work with now as well.

And they were there to describe what’s going on. Um, it’s kind of like what the New Testament says. You know, there’s the, uh, There, there’s the, um, the, uh, the guy who’s reading the Old Testament scriptures of Isaiah. And somebody comes up to him and they ask, the prophet asks that man, “Do you understand what you’re reading?”.

And he’s like, No. How do I understand unless someone explains it to me? That’s why we have this whole practitioner model that we’re all involved with, right? How do, I don’t really understand. How to do this or what to do, unless someone’s going to explain it to me. So that’s kind of how it started for us.

I was intrigued. The people who are doing this process were a lot richer, wealthier and doing stuff we didn’t understand. So we trusted them. We knew there was something to it, but boy, I felt dumb when I first got into it by myself. Cause it was like, see, this is why I’m not rich. I don’t know what the crap they’re talking about in this book.

Tim: Well, you know, there’s, there’s so many similarities to your path to the concept and mine, because, you know, the, the difference that you, the advantage that you had is that you had YouTube and videos, and there were a lot more, there was a lot more people involved with this concept. And there was a lot of education out there.

And to your point, some good, some bad, but it all keeps moving you forward. Back in the day, when I first met Nelson Nash, it was 1997. He didn’t write the book until 2001, I believe. So there, there is only one source and that was Nelson. And I was just brazen enough and just stupid enough to pick up the phone and call him.

And I’ll never forget, uh, when I called Nelson, he answered the phone. He’d say, Nelson Nash. And I said, is this Nelson Nash? And he goes, That’s what I said. 

Jeremiah: There you go. So, yeah, we don’t know how to start these conversations sometimes. Like what, what do I say next? Yeah. 

Tim: I had no idea that he was going to answer, actually answer the phone.

And so I would ask him some questions. He would answer the questions and. That would satisfy me up to that point. And then I dig into it a little bit deeper and have a few more questions. So several days later I’d call Nelson and now we’re starting to create a bit of a relationship. And finally, it gets to the point where, you know, I feel like I’m intruding on this guy’s life and he’s giving me a lot of time.

And I’m not compensating him in any way, shape or form. So I said, Hey, what would it take to get you to come up to Wilkes Barre, Pennsylvania from Birmingham, Alabama, to teach me and my clients about this concept? Cause at that point I was really thinking that this, this could be the thing I’m looking for.

And sure enough, he says, yeah, you know, we arranged something and it was July 17th, 1997 and I, I had about 12 or 13 clients and part of that group was a few agent friends of mine and we got together and Nelson came up and he spent two days here in Wilkes-Barre educating us. On the infinite banking concept, but I’ll digress a little bit because when we get, when he gets to my office, he has this rollerboard and it’s filled with books.

You know, uh, Murray Rothbard’s book, What Has Government Done to Our Money? Whatever Happened to Penny Candy? All these different books and I’m thinking like what the hell’s going on here is this guy like it’s just like a book fair But it was all part of his message and and it all fit in retrospectively it fit in really well, and I’ll add one last part to that story as we all know Nelson passed away in March of 2019 and in January of 2019 he called me. And after the, you know, the initial, you know, how’s, how’s your family, how’s your family type thing.

Um, he gets right into it and he goes, my word, look what we started. And I’m sitting there thinking like, what’s this we stuff, you know? And I said, well, you know, Nelson, you, you know, you really do. You really did add a lot of value to a lot of people. And the downline to that is just amazing. When you think about the grandparents and children and grandchildren that you’ve made better off because of this concept, he goes, yeah, but you were, you know, you were part of that.

And I said, no, Nelson, I was not part of that. He goes, well, you know, I’m a forester. I said, or he said, you know, I, I was trained as a forester. And I said, yeah. And he said, uh, you know, a tree can’t grow unless it has fertile soil. And he said, you were fertile soil. 

Jeremiah: There you go. 

Tim: And he said, when, when Mary and I left Wilkes-Barre and we were driving back to Birmingham, I said to her, this is how we’re gonna get our message out.

He said, at that point in my life, I was really good. At covering this concept in my little neck of the woods in Birmingham, Alabama. But I had no idea how to get this message out to the world. And I said to Mary, we’re going to market this through other advisors and agents, and we’re going to go to their town and we’re going to teach our 10 hour seminar.

And that’s exactly what he did. And, uh, yeah, so I, I gave him that and uh, unfortunately I got to see him at Think Tank and unfortunately not too long after that, uh, probably about four or five weeks after Think Tank in 2019 he passed away, but he was a neat guy. He was a great, great human being and he, his impact is just so, so deep.

Um, he really, really changed the lives of a lot of people. 

Jeremiah: It’s so great to hear that type of legacy from people who knew him. We’re kind of in that second generation, maybe like Olivia, you know, who I, I didn’t get to meet him at all. Maybe she did, but Jonah and I started doing the process of infinite banking, like I mentioned, uh, at least mentally, right.

Rethinking our thinking about money. We both had policies early 2016. We did not meet him in those first three years that we were doing this. We’d heard about him, of course. We started to watch some of the things that folks like you, other practitioners, or in his institute were, um, posting at that point.

Because I’m a, you know, a pursuer of this content, but, uh, it’s a beautiful thing. You know, when I first saw that there was an old white guy, I mean, be, you know, base here for a second on the back of a book about finances from Birmingham, Alabama, and I knew a thing or two about Birmingham.

Historically, I have a black history show. And, uh, you know, I perform on stages as Martin Luther King and all these people. I said, well, I’m not calling that number. Maybe Tim’s going to call that number, but I’m not going to call that number. I don’t know if I want to talk to, I don’t know if that guy wants to talk to me.

So, um, it was a beautiful thing to hear about his testimony with people, all sorts of people, of course, and freeing them, uh, from, uh, the financial ruin that the government and themselves or credit cards, of course, and banks put them through and that’s he’s an economist, right? And we’ve started to learn through this one pinpoint idea and how to personalize the banking content and concept in your life through the massive problem and the massive disenchantment that we’ve all been through from our government’s corrupting dollars or banks and bankers and Wall Street doing the same thing. It’s a beautiful thing to hear about that story from the people who knew him well.

Tim: Yeah, absolutely. And, uh, you know, it’s, it’s also, I think, gratifying to see exactly how this whole movement has sort of, uh, morphed or evolved. And, you know, people had said to me, well, you know, that must have been great for you because, you know, you were the only person doing infinite banking. And I wasn’t the only one, but there was, there was maybe a handful or two at that time.

And, you have to understand what was going on in the world in the late nineties. People were, you know, the stock market was going up seemingly forever at 20, 25 percent a year. So if you’re selling cash value life insurance in an environment where the market is, is just handed out 20, 25 percent rates of return, year in and year out.

That’s not an easy sell. You know, that’s not an easy conversation to have with people. And I can’t tell you how many times people said, why would I ever put my money into something that’s earning 5 or 6 percent, which it was at the time. When I can get 20 percent in the market. And how do you, how do you come combat that?

Jeremiah: It’s a very, yeah, it’s a very interesting concept to think about, you know, when he first discovered the concept that was always sitting in front of him, that the interest rates were 15 16, 17, 18 percent plus. And same thing, right? It’s just, but banking exists. Banking is, banking is always happening, uh, even when the rates are up or the rates are down.

I love that. 

Tim: Great. And interest rates have nothing to do with it. 

Jeremiah: But everyone thinks it does. It’s throwing them off. It’s throwing them off mentally. Yeah. 

Tim: Yeah. We always, the, the, the, the analogy or the term we use is. Interest rates take our eye off the ball. And if you know, anyone who’s played baseball understands that’s that concept and that idea.

And it’s, it’s so true. And yeah, interest rates are attractive at times, high or low. You know, if you’re investing high rates are great. If you’re paying interest, low rates are great. The problem is we’re both, we’re always paying and we’re always saving. So how do we reconcile this? And that’s where I think the infinite banking concept really, you know, fills the void, so to speak.

Jeremiah: It really does. Now, Olivia, I’ve got to ask you one or two questions about how did you growing up with with a Tim Yurek, one of the founding fathers of this, according to Nelson, right? The boss man says that Tim was there from really day one of getting the concept to the masses is I got to wonder, you know, what’s it like for a second generation person who’s grown up around this?

Talking about it, forcing you into the family business. Are you being held hostage on this podcast right now? 

Olivia: I am free. We speak about freedom over here and I am free. Um, I’m here under my own will. Um, but yeah, it was, it was. It was interesting growing up, right? So I, I have memories of being at Nelson’s seminars, probably not in 1996, but certainly when I was a little bit older, um, and Nelson speaking and telling us not to steal the peas.

We were there for that first day, the intro, which is really the fun, the fun stuff, I imagine. That that we could sit through. So it was very impactful. He was such a great speaker. Very good at keeping the audience’s attention. If you if your eyes drifted off a little bit, like Olivia. And bring it, bring you right back throughout the whole room, um, with questions.

So it was very engaging and you know, it, I feel very fortunate to, to have grown up in this environment and had the opportunity to be mentored by someone who, who is not following the crowd. Right. Because the conventional wisdom does take our eye off the ball. It shows us ways that’s actually giving us.

Giving up control of our money, up control of our cash flow. It’s giving up our ability to actually achieve our goals by taking our eyes off the ball. Um, one of the things we often say is, the easiest way to get someone to do something that’s in their best interest is making it feel like it’s in your best interest, right?

So by focusing on interest rates and rates of return, it takes our eye off the ball and You know, in turn makes us make decisions that aren’t in our best interest. So growing up with my dad, you know, it kind of became instilled to me, not necessarily the life insurance part. Now that’s a totally different language.

Um, but the concepts of, you know, always having your money work for you. And, um, and all these things that we talk about. I mean, I feel very fortunate to have had the opportunities that I’ve had. And. Also have the opportunity to, to bring that forward and think about Nelson’s vision and how people like Tim and you and myself are able to bring that vision forward.

Right? So when Nelson died, his, his vision doesn’t die. His legacy doesn’t die. It continues to move forward because of the impact that we’re able to bring forward with this concept. 

Jeremiah: Love to hear it. Love to hear it. Yeah. So I, I only hope one day I’m assuming Tim that hearing that out of your daughter after maybe she was as hard headed as my little kids are, but they’re little, you know, and one day I was like, if my kids can speak, my daughter’s the oldest, if she can speak like Olivia is doing, then I’d be a proud father.

I’m sure you feel the same way about what she’s learning and how she continues the story. 

Tim: You know, and that’s a great point because It’s been incredible and it’s been incredibly gratifying to see her evolution through this, through this whole process of understanding, you know, it’s, it’s going to be 10 years in September.

And, uh, don’t get me wrong. There’s some days where it seems long, longer than 10 years, but, but no, that’s, that’s, that’s not true. But you know, the, the, the point is just to see how she has evolved as. Not only a like somebody who understands this concept, but also as a young woman as an advisor. I mean, it’s just incredible to have watched that and to think.

That I’ve had some part of that. 

Jeremiah: Very good. Well, I want to, you know, we’ve had a conversation before and it’s, uh, we’ve chalked it up to the archives who knows where it is, but we started to get into some of our background. I know you started asking that as well. So I’d like to explore that again with you.

Take us back to the way you grew up and how you thought about money coming up and. Obviously, that’s a big shift, I’m assuming, from the way your daughter thinks now. So, you know, I could do the same thing, and like, man, when I had my coming of age, my, the awakening, as Nelson would have called it, I was 31, you know, but There was 30 years plus of programming before that.

Tell us how you came up and even how you got into this business. You were already in financial services, helping people, advising people before this. So, you know, what was it like coming up, Tim, in the 19 hundreds? Now Libby don’t know about those dates. . 

Tim: Well, um, so I, I, you know, I was born in, in sixty two, nineteen sixty two and, uh, you know, grew up in the seventies.

You know, the sixties and the seventies. And, uh, we were not by any stretch of the imagination, wealthy. Uh, we were probably not middle class. We were probably on the lower rung of middle class if we were, but in all probability we were below that line. Uh, but we never thought that way and we never felt that it, it was just like we had everything we needed, maybe not everything we wanted and the things that we wanted.

We went out and worked for them. I mean, I’ve, I’ve always had, you know, I was always cutting grass or raking leaves or doing something to make money. And it always seemed that there was always some type of work available. I will say this, the worst job I’ve ever had, uh, there was a, a farmer that lived about three or four miles away from, from where we lived and he was good friends with my dad.

And he would pay me and my brother 10 each to, um, clean the stable or the pen where the bull stayed. And he would do that twice a year, every six months. And I can’t even begin to describe the God awful smell of ammonia and other things that I wouldn’t mention that And I will say this, that smell permeated your skin for days.

Um, but it was 10 bucks and that’s when 10 meant a lot. 10 doesn’t mean a lot because as president Biden said, because of Putin, but, uh, 

Jeremiah: Yeah, I got a different opinion on it than that. But yeah, I mean, it teaches you the value of work. It also teaches you that there’s a, you know, if you can bring value to people, what we do now, you know, bring value to people without the blood, sweat and tears of the bullpen, the literal bullpen.

Um, it’s a completely different chip. So how did you make it from the bullpen, you know, to the advisory table, you know, because every time I drive by, Uh, people who are working outside. Anytime I see men working physically with a shovel, I mean, I get that flashback that you get to the bullpen because any type of digging, shoveling, rocks, moving mulch, piles of making driveways, or spreading, Oh, it’s the worst for me, and I’m just so thankful I’m not there.

More power to the people who enjoy it. Obviously, sympathies. And, uh, my thoughts and prayers to the people who are out there who don’t enjoy it, but that’s the job for 15 year old boys, for sure. In my book. So how did you, you know, how did you transition? 

Tim: Well, you know, I was, I was always pretty good in school.

Um, and you know, I, I, uh, I played football in high school and I wanted to play in college and I got an offer from a small division three school and unbeknownst to me, It was a really good school and, uh, I got a degree in economics and now with economics, you got basically three choices. You got banking, investments, or insurance.

And so I did an internship my senior year with a firm called Dean Witter. And there’s probably a lot of folks that might be listening that might, might recall or remember Dean Witter. They don’t exist anymore, but. Uh, that indicated to me that that was not my cup of tea. And then there was traditional banking and I really never saw myself as a, as a banker, but a good friend of mine, a good friend of our family said, you know, you should try the insurance business because you’re a relationship type person.

And the insurance industry is very relationship oriented. And so I looked into that and, um, sort of. Well, I, I got my start in insurance and luckily for me, this was in the, you know, I graduated college in 84. I started, uh, in March of 85 and within a three or four year period, there used to be a firewall, if you will, theoretically, between the banking industry, the insurance industry and investments.

And. That wall started to come down in the mid to late eighties. And what happened was investment firms were now able to offer insurance and banking banks were out, were able to offer investments in insurance and insurance, uh, advisors or agents were now allowed to offer investments and banking services.

So everybody was doing everything and it, it appeared to me that I would have had the advantage because I was in a relationship oriented business and those other two industries were more transactional. And, you know, retrospectively, I think that that was a really good path for me. Uh, and then how I realized things were going bad because I was given this advice that The industry taught us to give, which was pay down your mortgage as quickly as possible.

Max out your 401k. Pay off your credit cards as quickly as possible. I’m not saying in and of themselves, those things aren’t bad, but in the, in the macro, in the big picture, all of those strategies, put your money out of reach when you need it most. And, uh, I really came to understand this in 1993 at Christmas time.

Uh, We were talking about the good old days and the good old days were the time where we went to pick up my dad’s check and the car wouldn’t start. So we had to get the car towed and all of the embarrassing things that come along with that. And, uh, my mom, I remember saying to my mom, well, why were we there?

Why didn’t you just wait for the next day? And the look she gave me was just sort of like, so incredulous. She said, honey, we live pay to pay. We needed that money, or they were going to turn off the gas or the electricity or something. And, uh, that’s when it, it dawned on me right then and there. I was literally living pay to pay at that stage of my life at 31 years old.

Now. You know, this event happened when I was 10 and now I’m 31 and I’m still in the same spot and I’m making really good money. So it’s not the fact that I was, wasn’t making enough money that was holding me back. It had to be something else. And sure enough, it was how I was using my money. And that’s when I figured some things out, and then kept searching, and that was 93, and by 97, that’s when I, I, I sought out and, and found Nelson, and the rest, as they say, is history.

Jeremiah: And that’s, that, it’s so interesting that, you, you know, the, the philosophers have always said that the teachers appear when the student is ready. You know, and, um, seek and ye shall find, right? That’s biblical. And so we’ve got to be looking for the answers. And what’s interesting to me is, my coming of age, and me and my brother together, uh, around the idea that our dollars don’t have to be given off to third parties and controlled by folks.

We can’t get to them, and in these environments that, oh, there’s gonna benefit you in the long run, but you can’t touch them now, right? Loss of control was basically because We were out here doing all sorts of crazy different things and trying different angles to try to like, there’s got to be a secret of the rich and wealth.

There’s haves and have nots. That’s just the way I thought about it and I said, you know what? Maybe I’ve watched just enough tv. Most of the time you hear the TV ruins kids’ minds. I was like, I’ve watched just enough TV as reality television started to get big in my teen years. No, I mean, surely. I can get to a place where I’m not working.

I’m just on TV. Like these people, I’m famous for being famous. I’m rich for being rich. Something is out there that I don’t understand, surely. And if I work hard enough, maybe I’ll find it. And that’s how it was for me. So the creativity that surrounded me watching TV, like spawned my ability to like, I’m going to go find something.

Cause these Kardashians on you, they ain’t doing nothing. They got lots of money. I’m gonna figure that out. That’s the job I want. I want that job. So, uh, what we were doing, you know, I tell the story from time to time that my brother was, uh, he had just gotten a year or two before we were on, uh, on this kick for infant and banking, trying to read these books and watch these I, he got me kicked off at eBay for selling fake beats by Dre headphones, you know, like that’s what we were doing We were I was trying all sorts of things like I got to figure out how to make money And you start to realize uh, you know the skills of selling something or like you said paying yourself first Really is what infinite banking is really where it starts in this product And that’s why we show people kind of our visuals that we do Is uh, you’ve got to keep the money that you make you were saying the same thing if I make three times What dad made coming up in the 70s and 80s?

And I still don’t keep it. It doesn’t matter. It’s still paycheck to paycheck. Money goes in, money goes right back out. And that intermediary system, where do we place our money first is just going to change the whole game. And if we understand the components of, if you place it in this product, we always alliterate everything around here.

If we place it in this product for this process, you know, all these features come along with it. And that completely changes it. We’re like, Oh, well, it’s not just about getting high returns on investment. And these long term uncontrollable volatile assets, we hope they’re assets anyway, it’s controlling the, where you put it in the first place before you get in all that crazy stuff.

And then you have all the w the world, it becomes your oyster. It’s open to you for the possibility. And so it’s interesting for us. We grew up in a military family. And dad was enlisted in the army. We’re both born overseas and Money wasn’t a topic. It really we’re all open to it And now dad’s passed but mom is remarried to an airman and we can have these conversations within our family It’s not taboo to talk about money We just never talked about it coming up because it was a quick conversation.

Uh, we don’t have any, so what’s there to talk about, you know? Uh, but we, we, you know, and, uh, I told my mother one time when I was in college, you know, mom, I’m just really like not interested in being where you are at your age, I want to make so much more money. And I was on the verge of thinking that was going to get popped in the mouth by saying something disrespectful.

And she responded with, No, I highly suggest you do that. I highly suggest you do better than me. You know, I was like, oh good Well, i’m glad I have your permission because I got to go find something. I’m i’m sick of being broke. So, uh, Realizing that over time being exposed to infinite banking like so many people that we talk to we do a lot of social media We do a lot of speaking on stages people Don’t dig deep enough.

That’s not what social media is always for sometimes it’s for the quick hits and the short form content You But you really need to think back and listen to that piece again. If you can really pay yourself first and this environment in which you put your money is all that matters. So you can control the flow of cash.

Who’s getting it, where it’s coming from, where it goes back to, does it come back to its home base and keep growing for you? People need to pay attention to that because if you do that, it changes everything. And now I can understand what the heck Nelson meant when he said you got a tailwind. I did not know before.

Tim: Yeah. It’s so, you know, it’s so awesome because as you were saying that when I first got into business, there was a, a really good insurance agent out of, uh, I think it was Canton, Ohio, his name was John Savage and John Savage used to draw two circles on a page, uh, on a, on a sheet of paper. And. He would draw this circle on the left and towards the bottom of the circle, he would draw a line and then he would take the circle on the right and near the top of the circle, he would draw a line.

And he said, basically there are two types of people in the world on the left. These people spend and then save what is left and there’s never anything left.

But the people on the right, they save first. And spend the difference

and he would love to make that presentation to a young person Because he would look that person in the eyes and say now let me uh, let me explain to you Why this is important to you because these people on the left always Work for the people on the right 

Jeremiah: And 

Tim: he said, if that’s what you want, then keep doing what you’re doing.

But if eventually you want people to work for you, you need to save money first. I mean, that was his presentation and he did incredibly well. But I just look back and think, okay, he did well, but how about the impact that he had on people? Are 

you a business owner tired of feeling like your finances are out of control?

Do you wish you could minimize risk and maximize returns without sacrificing the growth of your business? Then tier one capital is the solution for you. Tier one capital is a company that specializes in helping business owners take control of their finances and achieve financial success. Their mission is to empower their clients and enable them to make informed financial decisions that benefit their business at tier one capital.

They understand that financial institutions and the government can hinder your business’s growth. Which is why they strive to identify areas where you may be unknowingly and unnecessarily giving up control. They provide expert guidance to help you reduce tax burdens, increase returns, and build wealth in a tax efficient manner.

So if you’re looking to take your business’s finances to the next level, visit tieronecapital. com today and start your journey to financial success. 

Tim: Uh, as you were saying, you know, talking about saving first, That, that’s exactly what came to mind. And that’s, that goes back for me to probably 1985 or 1986.

Olivia: Exactly. And when I think about that and what impact we’re able to make in this position, I think about, you know, when you, when you visualize those two circles and saving first for a lot of people that feels like giving up their lifestyle. And yeah, I’m sure it may give up a portion of your lifestyle, but what we’re actually able to do a lot of the times Is use the cash flow that’s already being used in efficiently and and use it in a more efficient manner to make up that savings and to.

Save first and that’s what’s really able to make an impact that I see By making that money more efficient and you know, not necessarily having to pinch the cash flow and and and feel Feel like you can’t afford things necessarily because we’re all using money. We’re all spending money We’re all buying things But that’s not the point.

The point is how are you using your money? Is it as efficient as possible and working for you at all times? 

Jeremiah: And it’s, and it’s such a paradigm shift. We all know that because when we’re talking to people, you have to start them a lot of times from where they are and back them up because they’re so ingrained in something else, an investment strategy.

I get people ask me all the time, you know, Hey, well, I see you on TikTok. I go live. We train people in group sessions, things like that. We do social media around what we call the save and spend system. And they said, Hey, well, I’ve got some money, you know, I sold my house. I had a guy this weekend, just this weekend, you know, last week, as we’re recording this in June, summer of 2024, you know, Olivia, you and I, and all our people were hanging out in California, Santa Barbara at the Ritz, you know, um, way better than the bullpens of Tim’s day back in the 1900s.

And, uh, I got home and I was at an event, so I’m still MC. And I was at an event. They asked me to do this fundraiser and, and, and help everybody raise money for meals on wheels. You know, everybody knows meals on wheels. And I was having a good time. I was sitting there with a DJ and he said, you know, I just sold my family house.

Parents have now passed. I sold the family house. I’m an only child. So I’ve got the money was able to pay off my debt. You know, what a legacy. Great thing there. I took care of that. And I’m trying to figure out, you know, I’m about to put this money in a CD. You know, what do you do? With money you got any ideas and I said boy do I have the slideshow for you My friend is we’re gonna sit here at this event for a couple of hours where everybody’s on the lake It was an outdoor event.

So he and I got to chat for a while And like you said, it’s the first thing that I want this guy to understand Is not great investment strategies. That’s where he was going. That’s where he wanted to talk about. I said, why don’t you make sure we keep the money first? Why don’t you make sure it doesn’t go away?

It’s not at risk. You don’t lose it Why don’t we start there? And so what i’m saying like you’re saying Olivia, we got to back him up. I gotta say hold on before we put it at risk. What were you thinking? Why don’t we keep it? What if I can show you how to always have it? and grow and cashflow, but you never lose it.

He’s like, show me more. So we had a great conversation and now he is rethinking a complete shift of the 150, 000 that he has, you know, and he didn’t know what to do with it. Why? Not because he’s not a good dude. Not because his parents didn’t love him. Didn’t leave him some money. Didn’t leave him the house to sell.

Cause he had no idea that you don’t go first into risk. You don’t go first into those categories. You actually keep the money and put it in an efficient place first. It’s somewhere right now. It wasn’t at the DJ booth with us. What if I can show you where to keep it in your possession? And it always works for you.

We can leverage off of it and it always gets better. And it’s income tax free. And it’s, you know, not subject to judgment and liens and it’ll pass on to your 10 year old that you have. And he’s like, What is this magical, mystical place? I said, well, you’ve heard of it. You’ve always known what it was and you don’t understand it because neither did I, nobody talks about it like this.

And let me tell you a little bit more about my favorite friend over here in boring old 200 year life insurance. You know, I blew his mind after a couple of minutes and uh, you have to, but you have to relate him to where he is and where, cause he’s a hardworking guy, but he’d never had money. And now that he has money, he’s like, I’m asking random emcees at the lake.

What do you think I should do with it? And I said, boy, I got, I got something 

Tim: for you. 

Jeremiah: Check this out, 

Tim: you 

Jeremiah: know. 

Tim: That’s awesome. And you know, it’s what I loved about what you said, Jeremiah, is that, you know, you’re basically meeting him where he is. In other words, at this stage in his life. And and it’s it’s so critical that we do that because we can’t speed up the process.

Unless the people are ready to move forward and and that’s one of the things that I think probably one of the greatest things that I’ve learned over the years. You really can’t force the process. It’s got to. Sort of marinate and germinate through that person and eventually it does or it doesn’t but either way it’s okay 

Jeremiah: yeah, you said it you said exactly right eventually it does or it doesn’t and sometimes in the world of sales and advisory in the world of Common sense, you know with sometimes it doesn’t people aren’t gonna get it or they’re not ready for it at the time So can’t force it on them.

They have to come to their own awakening because Like we were saying earlier, if they figure it out, well, then I don’t have to tell him anything. Nelson probably said it like this, and I’ve watched the way he says some things. I’m sure, and Tim can correct me. He’s, he’s the disciple and I’m the descendant, but.

If people know what’s going on, they’ll know what to do. So help them know what’s going on. You know what I’m saying? So I just tell them what’s going on. And I said, you know what to do with that? He got it. You know, I said, yeah, let me watch your stuff. I’m gonna call you and all that stuff. Cause I told him what was going on.

Tim: Well, you know, it’s funny too, Jeremiah, because if you look in at Nelson’s book, right, he tells you maybe not in clear words, but he tells you that you do not need life insurance. To become, you know, to, to utilize infinite banking. And he shows you in the book when he compares, you know, the, the, the twin sisters, we call it the CD method versus life insurance.

You, you could get out, come out ahead just using a deposit account at the bank versus life insurance because there are so many people who have, uh, preconceived notions about life insurance that probably are not correct. And that’s okay. Right? We’re not here to convert people. We’re here to help them.

Jeremiah: Yeah, we can’t help people that don’t want to be helped. We’re helping to open the eyes of the people who want to change and realize they can have that control. 

Tim: That is exactly the point. And it’s so amazing where people get frustrated because the person didn’t catch it. Well, they didn’t catch it. That’s okay.

Their family is going to pay the price, but the value to me, the biggest value to me of infinite banking is that we’ve implemented this in our lives and it has made an incredible difference. We literally overnight, you go from a mindset of scarcity. To a mindset of abundance. 

Jeremiah: It’s beautiful. And you know, it’s funny that you say that, of course, we talked about those twin sisters inside Nelson’s book and the best this guy knew of, and the idea he gave me at the DJ booth for what he was planning to do with the money.

Was a CD and I said, well, hey, you’re gonna get a great rate these days, you know, compared to historically in the last 10 years or so Olivia don’t know about these old days, but yeah, you could get five and a half percent in the CD for sure, whatever bank you might be using. However, what if we compared that to and we have a little comparison chart and I was able to sit at the DJ booth and show him we had all day.

You know, is there a death benefit? No. Is there principal protection? Well, yes, there is principal protection. Is there guaranteed growth? Yes, CDs have that as well, you know Is it going to be tax free at withdrawal time or use time? Oh, no, not exactly, you know And so we were able to go back and forth because Like you said, Tim, a lot of folks maybe who don’t look at us deeply enough, who don’t listen to your podcast or mine deeply enough, think that we’re anti these other financial products.

Not necessarily. We just have to understand where we put money first, where it’s most efficient. And if you’d like to borrow against this cash value, DJ Josh, and put it in a CD, go for it, man. But maybe you should think about putting it inside the life insurance. First, then you can put it in your seat.

Tim: Exactly. Yeah, that’s so awesome. So Jeremiah, one of the things that I love is your explanation of the cash value as it relates to the death benefit. And I see you got your cup set up. So can you take us through that, that, uh, explanation? 

Jeremiah: Oh, happy to. I, so happens I have my cups right here. Like you mentioned, I love it.

Don’t leave home without it, folks. Don’t leave home without it. You got to be ready for the three cups set up. It is part of how we explain the product and then get into the process of infinite banking around here at the cash compound. So yes, a few years into it, I’ll give you the origin story too. You know, my brother is helping people after market.

We started teaming up with our friend at the money multiplier. You know, obviously we’re all. Closely connected with our great friends over there, also practitioners in the Nelson Nash Institute. We were with them from the beginning, and my brother’s doing all the aftermarket, what we might call policy servicing, right, in the industry.

We’re just helping people with their cash value, and changing their address, and understanding where to pay these loans back, or whatever they’re trying to do. And I’m kind of on the front end, more the marketing, and maybe the figurehead of trying to get people, new people, interested in this idea. My brother comes to me right about four years ago, I think at this point now, early 2020, and he says, man, I’m getting so frustrated.

I’m on the phone with these people all the time. They have policies. They’ve started infinite banking. They want to become small p practitioners of doing this concept effectively for their family. And everybody thinks they’re withdrawing their own money. They don’t understand. I don’t know how to explain to them that we’re not taking money from the politics.

They’re like, how in the world can it keep compounding, or why would it get bigger? Why would I pay interest on my own money? All these types of questions. Dave Ramsey’s sneaking in somehow. He must be undermining all these people we’re talking to. And I’ve got to figure out, man, I’ve got to show them, like, it’s coming from a different bucket.

And I said, well, why don’t we just put a different bucket in front of them? So that’s where the three cup setup came from. We got to show them that it’s coming from a different bucket So cup number one the red cup is premium Sometimes we add the word deposit on it because we’re going to use this as a bank We got to save that up and we’re storing it for later, but premium.

Those are dollars We give an entrance company right olivia. It’s going to be interactive. You can be miss kirk here. You can you can be My person. So we’re going to pay the insurance company money. Give them money. If you give dollars to the grocery store, you get groceries. If you give dollars to the gas station, you get gas.

If you give dollars to an insurance company, what do you get? 

Olivia: You 

Jeremiah: get the benefit. You get a policy, right? You get paperwork. You get peace of mind. You get a pool of cash for later. All right, I’m Baptist. Everything’s alliterated. There’s a lot of peace there. Okay. We give them premium. We now get a benefit.

Life insurance, that pool of cash is the benefit. That’s cup three. Death benefit. Cup one, red. Cup three, benefit. A little dollars, if you can see us out there, a little of our dollars buys a lot of theirs. Right? That’s how Jacob State Farm works too, right? We give them a little premium, it buys a lot of car insurance, and we wait, like a good neighbor, he’ll show up, if a tree lands on our car.

Well, we now have purchased something from the insurance company, because this type of life insurance we want to use is whole life insurance, Olivia. Whole life. How long do you think that lasts? 

Olivia: I think it lasts for my whole life. 

Jeremiah: Your whole life. Very good. Some people like to say, you know, it lasts until you’re 30 years.

I said, no, no, you might be thinking term on that one. You said, oh, it lasts until you’re 100. I said, well, maybe, but maybe, what if you lived to 101? See, whole life insurance lasts your whole life. It doesn’t last till you’re a hundred if you die tomorrow, it lasts till tomorrow, because that’s your whole life.

So we bought something from them that must pay out, doesn’t expire or go away. And since we bought this pool of money for our friends, family, church, and charity, whoever you want, we bought it, but we haven’t paid for all of it yet. It’s kind of like your house. Every time you pay more, as you live longer, there’s more and more equity.

That’s cup number two cash value is how much equity you’ve got it’s paid up paid off or paid for It’s how much of the benefit we bought that we can get access to it’s equity You don’t like your house and you can get to that lines of credit key locks, right? Is this making sense to people like oh, yes See, we’ve bought this big pool of money for our family cash value in the green cup in the middle is now liquid and leverageable And if we take money out of cup two olivia We’re going to take a big gulp out of this cup.

How much of the money we contributed to this policy came out? 

Olivia: None. 

Jeremiah: None! We didn’t put any money in Cup 2. This is the insurance company’s money, and we borrowed against the value that we purchased. Our money is still in Cup 1. Let me tell you about all the guarantees in Cup 1. Guarantees in Cup 1 is your money doesn’t go down or backwards.

Not an investment. It’s insurance. Those are different things. Completely. Number two, it’s guaranteed to get bigger. Of course, we knew it bought a big pool of money. And number three, it’s guaranteed to continue to compound and grow. So the amount of money that we gave them has guaranteed growth on it.

They’ll give it to us in the paperwork. They want to put guarantees at the top. And they’ll say, Hey, there’s more and more and more of our money that you have access to cash value, green cup from what you bought, blue cup, that’s benefit. And the final thing is, Premiums are level. It doesn’t cost any more to do this.

We’re going to be locking you in. You give us this money, it’ll compound and grow forever. So the three cups set up right there in its essence is that premium cup one by depth benefit cup three cash values. How much of that depth benefit is liquid or leverageable. If you don’t want to use it, Olivia, totally fine.

Your family’s going to get it. But if you want to call and say, can I have the money I bought? They’re going to say, Hey, you can’t trick us. You’re not dead. If you call us, you can’t have the money you bought, but you can get through the equity. You can get to cash value and borrow against it if you like.

Then we got our little shot glass here. This is where my baptist background breaks down. We got a little shot glass here. I know we can’t have that. It’s a little communion glass here, but right here represents what we’re going to get each and every year from a mutual company. It’s dividends. Each and every year mutual companies give us a little piece of the profit.

They don’t have stockholders to pay out to. Nobody’s buying these shares on the market. So they let us be part owners. They declare dividends as profits and they say, where do you want them? And I said, Hey, I like money with my money. So just pour it on top of the money I’ve contributed to you in cup one, the red one and more premium buys us what Olivia?

Olivia: More death benefits. 

Jeremiah: More death benefit, which means we’re going to have more cash value as well. So it just keeps getting bigger and better all the time. So that’s how we set up the product for people. And that’s a great visual for social media. It’s a great conversation starter. And so it always helps them, like you mentioned, when people go, wait, okay, so hold on.

Now we’re taking these dollars out of cash value, barring against them or whatever, like, you know, but, you know, do we have to pay for that? Is there interest on that or whatever, you know? And I said, remember, our dollars are still earning constant compounding. Everybody liked it. Hear the word uninterrupted compound interest, but that’s not alliterated enough for me.

So constant compounding on our dollars, amortized interest on borrowing against their money. We’re not borrowing our money out. That would be a withdrawal. If we take it out, it won’t compound anymore. Just like with the bank. We’re not going to take ours out. That’d be dumb. We’ll do that later, maybe in retirement or something like that.

Nelson will show you page 8283 in the book. We’re going to borrow against it right here. By using our policy as collateral, being able to get cash value loans from the insurance company, see it’s a different pool. And that really sets people up for success in their brain at first, because if they do not, I heard, you know, recently we saw each other again at the NNI Institute’s annual event in Vegas this year, had so much fun with that.

We got to speak at that one, my brother and I, but, uh, we, maybe it was there that I heard somebody say, Hey, you know, if the, uh, If you understand what’s going on, if you don’t understand what’s going on, the numbers don’t matter. If you do understand what’s going on, the numbers won’t matter. Because what we’re not talking about here is the contribution of premium you’d like to do.

I don’t know. Whatever makes sense for you. We’re not there yet. We’re just explaining what’s going on. If you know what’s going on, then you’ll know how much you and your family should be doing. But I can’t tell you that at the beginning. If you don’t know what’s going on, it just sounds like really, really expensive insurance.

Tim: Jeremiah, I love that, uh, presentation or explanation. It is so easy to understand and yet so powerful. Thanks for sharing that. 

Jeremiah: Yeah, you’re welcome. Thank you. Let’s give a shout out to my brother. He’s busy on the phone right now. I get to converse with. People like you, he’s probably helping somebody understand it right now.

So from our frustration and through our pain, maybe you had the same things, you know, coming along, helping people walk through this idea. That’s where this was born out of. It was born out of necessity to fix the problem because we realized the problem wasn’t in the product. It wasn’t in the process. The problem was in everybody’s mind.

Every time they’re like, I don’t, why wouldn’t the world would I borrow my own money? We hear that every day. Yeah. How would I borrow my own money? Or, if my money’s earning 3, 4, 5, how can I borrow at 5, 6, 7 and come out on top? Or like, whoa, do we have something to explain to you? I don’t know who came up with this, Isaac Newton Galileo?

But compound interest is stronger than amortized interest. Let me show you, you know, so because people are like, this makes no sense because there never been bankers. We’ve given up that banking opportunity to third parties and commercial bank. And we’ve not been bankers ourselves. And once we go back to controlling banking function in our life, numbers don’t matter anymore.

Oh, I get it. I control it. And it always goes up. Doesn’t even matter. 

Tim: Nelson used to have a way. When, uh, I would call him and say, Hey, I’m, I’m, I’m having a hard time getting these illustrations to work out. And he would say, Tim, you’re getting hung up on the numbers. And when I would talk to him in person and I would ask him those types of questions, he would stare down over his glasses at me and say, Tim, you’re getting hung up on the numbers.

But I used to love that, uh, well, I didn’t love it, but I love the way he did it. 

Jeremiah: We can look back on it finally at this point, right? So yeah, 

Olivia: well, a lot of times it is so easy We’re always trained to look at the numbers right by conventional wisdom Look at the numbers look at the interest rate look at the rate of return And again, that’s what takes our eyes off the ball and the ball is the bigger picture of how we’re using our money How we’re able to make our money more efficient And how we could have it Actually, they’re on a guaranteed basis to help achieve all of our financial goals all throughout our life.

And that’s really the process that we talk about and teach people, right? Because it’s not stationary and, you know, I feel I feel better having a guaranteed rather than a maybe, especially when it comes to, you know, the things that I want to achieve, right? 

Jeremiah: 100%. And that’s not just investment. That is the combination of what insurance companies got crazy about her and back in Tim’s day and the eighties and Nelson’s day when he started this getting into universal life policies, all the flexibility, the market access or the market exposure to it.

And we’ve got to fight that fight with people as well. And it’s beautiful because if you go back to the fundamentals and the guarantees and the growth and the access and the control and the tax freedom and all those types of things, and you can still start there. When people want to talk about universal life products, index, universal life products, retirement rate of return.

I’m like, hold on, let’s back it up again. Let’s back it up again. 

Tim: You know, and, and Nelson, and he says in the book, right? It’s not about interest rates. It’s and it’s not. And that’s the key. This is all about being in control. And one of the things that we always say to our, our P our folks is. You are either going to be controlled by the process or you will be in control of the process.

It’s your choice. It makes no difference to us. 

Jeremiah: I like that quote. I’m writing that one down.

Well, let me, uh, get a little bit of a taste. What’s next for you guys here in business? How do you operate your business? Who do you work with, you know, and what are people looking for when they come to you guys to, uh, Continue their banking experience. 

Tim: Well, so we, we like working with business owners. We think that we could have the most impact with business owners.

And we’ve done a lot of research and found that, according to Intuit, uh, the Intuit Corporation. They, they found that 61 percent of small business owners struggle with cash flow and 69 percent of small business owners either lose sleep or sleep less due to cash flow concerns. And in 39 years of working with business owners, I found that most or all of these cashflow issues are self inflicted.

So if you think about the impact that we could have on business by showing them. Number one, how to make their cashflow more efficient. Number two, how to save in an area that they own and control. And then number three, how to borrow against that money and pay interest back to an entity that they own and control.

I mean, let’s face it. Business owners went into business to be in control of their destiny. And they are in most aspects, except on the banking slash financing piece of their business. And now when you offer them this, we call it a life vest or a life jacket.

They want to know more and they want to be able to utilize that because they want more control. And, uh, so that’s where we we’ve had a lot of impact. 

Jeremiah: I love it. Well, we are, we want to be like you. When we grow up, we’ve been in business now for almost seven years or so helping people do this process after we started about nine and a half years ago.

And that’s what we do with the cash compound. We talk about code cracking cashflow or cracking the code to cashflow, teaching people starting right here at the save and spend system, right? We teach people how to save your money, spend someone else’s OPM. The insurance company’s got it there for you. And, uh, we are really going to, uh, we think change individuals and then families, business owners, and the culture, you know, and, uh, there’s a lot of people that came from where we came from or look like us.

Who we don’t think understand this well, so we’re finding them left and right through our channels out there So that’s what we’re doing at the cash compound. Appreciate you guys teaming up with us for this conversation and Enjoying the experience with you over and over again. We’ll do it again for sure but You know We’ve talked and have known each other now for two years or so and got to be friends just this year Um And this has been a great experience for us.

Appreciate you guys leading the way. Absolutely. 

Tim: No, it’s, it’s been, it’s been for us as well. And you know, every time I speak with you, Jeremiah, I come away better for it and also smarter for it. So thank you very much. Appreciate it. And, uh, you and your brother are doing God’s work. So just continue doing it.

Jeremiah: Appreciate you guys. Thank you.