Is Our Math Misleading Setting the Record Straight With Todd Langford

 Todd Langford welcome back to the better well show All right, thanks for having me we we did a video that was posted about a month ago saying responding to hard objections Against whole life insurance and we got a whole lot more objections in that video I think did we accomplish what we wanted to do yes because we're increasing Conversation in this space and so the I could almost Summarize all these comments that we're getting By pretty much saying there's almost two paths path number one is people are challenging the numbers and there are people That don't know us that are saying this is a scammy way to Life insurance sales people trying to position insurance and they're using numbers like fees and taxes to Elevate insurance and so that's on one side and it's laughable to people that you know know especially you The last thing I would say is a salesperson that's probably critiqued on the other side You probably should be more of a salesperson in the areas, but you're just not because you're in the numbers So that's that's on one side and then the other side are the people that are just saying like hey listen This is you're not even you're not comparing this properly like why aren't you just putting your money and paying no fees and no taxes and and like why are you like that's what you should do like that's just another reason why Insurance has no place in in someone's financial life what I what I took away from that is There is still a very very deep Misunderstanding when we talk about insurance. I think there's such a misunderstanding about the either or you should do Insurance or you should invest in this and I think we've had other videos where we're talking about insurance as an Anne we're talking about insurance in distribution We're talking about and the other benefits that in life insurance gives you and my my thought processes Insurance even for the person that wants to do it themselves Doesn't want a a manager on anything Insurance when set up and use properly could still be a benefit to that person if we're if we're talking about the right outcomes and goals and Most people successful people Aren't aren't going to do it themselves So they're already going to work with somebody and so whether our assumptions were right or wrong like it's it's not wrong to Bacon some some cost to having help manage your stuff So with that with that intro. I'm just going to hand it over to you. There's a lot of places that we can go I want to encourage you the viewer like we're not going to answer all the questions There's probably going to continue to be questions that come up and I have a series that I've done with Todd and We will we'll try to make that as easy as possible to go through but life insurance for for better or worse is Multitimensional it's it's not like a you do this because this is the only benefit and so sometimes when you get a multi-dimensional Asset there's other benefits that are hard to quantify and we're going to do our best to bring those up But I'm sure we're not going to cover it all and that's why I have more than one video with you Todd So maybe the world's long centroid to our series, but without further ado welcome and I look forward to learning Thanks, well boy There was a lot of stuff you opened up there in that in that front end, right? And I think one of the big ones is is trying to understand there's no way we can hit what everybody does You know, we're looking at the general public just as this is what most people do This is the way it is for most and there's always going to be exceptions. I mean, you know you could throw out What if we Invested in cryptocurrency and it doubled every year from now on well, okay, you know nothing's gonna be that right but But it's not about that. It's about looking at that big picture and seeing how everything fits and I think one of the mistakes that that I made was Not really enforcing the idea that life insurance is not an investment vehicle It's it's a savings vehicle and it becomes part of A portfolio of Investments it becomes that certainty portion that gives us access to emergency opportunity fund Capabilities when either an emergency comes along that could totally knock us out or when an opportunity comes along and We need to be in a position a cash to take care of it typically our Investment side is going to be locked up for longer periods of time to where those kind of fluctuations really hurt our long-term Returns right and we hear people say you know as long as you're invested in the market for the long haul The lows are gonna be fixed by the ups along the way and the ups are gonna be Maintained by some lows that are gonna happen Well, the problem is we don't know when that sequencing of returns is gonna occur Okay, and so for most people we have to have something to Buff for that right we have to have some cash assets and in a managed portfolio using modern portfolio theory Which has been around since the 50s and kind of adopted Across the financial industry is an idea of a balance between stocks and bonds so that when one's up the other one's down And they kind of the kind of helped to balance each other and it gives us if it's short-term bonds a place where we can Pull dollars when we need to and so think about this if the marketplace and we've put all our money in the market and all of a sudden we have a downturn in the market and We have an emergency that occurs and we have to have cash if we liquidate cash in that down market We've totally destroyed the average of that return over time. We've given up the The ability to have those rebound when the market goes back up and so we need other assets And I think for a lot of people if it's a managed portfolio It's gonna be balanced inside the portfolio if somebody won on one doing it Typically if they're if they're really look at the big picture They're gonna have money sitting in cash somewhere to buffer that right and so they don't often include The cash in the overall decision, but really if you think about it because we put money in an investment somewhere Where there's real estate whether it's market whatever it is Subconsciously, we're also putting money in a cash position and that really needs to be included because it was that Decision of the investment that calls us to sit in cash right or or whatever that is and so really life insurance plays a role to be that cash or Certainly asset and it really expands things now when you look at the big picture And that's what we did and that was my mistake is looking at hey here's the return Todd can I stop you right there because you said something that is really really important and I'm gonna expand on that So you said that a lot of times when people compare things they're just looking at their highlight reel They're just looking at maybe They're the S&P or their investments, but they're failing to say it well You're saving you have $50,000 in a savings account over here or you have money stash over here and so they're not necessarily Bundling that together and and including that in the rate of return So that's that's that's first and foremost, but then when you stack that on top of a protection asset or a protection Product who who factors in insurance products to factor in Opportunity cost and rate return so for example that same person that's now buying disability income insurance or term insurance Really if we're gonna compare more of an apples to apples comparison need to include those premiums as well because in When what when we're talking and if you're using a permanent product you can use other benefits that you don't get in a savings account or an Investment and so that is just like there. It's very most people Skip over that, but it's really really important to like start looking and comparing Benefits to benefits and and so just just continue But you you said that is very profound a lot of people miss it because most people talk about their investment returns fail to Bundle in their safe assets even if it's a savings account and really fail to and overlook the opportunity cost of Putting their money in other insurance products Right and and so part of that you know Life insurance got a reputation of being a terrible investment. It's because it's it's it's usually not apples to apples without looking at that macro Look stepping back and saying how does all this integrate and it's really a critical piece If we if our goal is to get ahead if all we want to do is focus on the ups and that's all we care about Then you should have everything you have in those ups right no money anywhere else. Well, that's not gonna work very well if life Is life right it throws it throws obstacles at us We have issues that don't go according to plan and The way to mitigate that risk is to have other pieces in place well life insurance turns out It's got a lot of those pieces built into one product Right and so with everything else we do have to look out there and see what those are what does that term insurance cost? You mentioned disability. That's an important piece. Does your plan of investing Complete in the event of your disability, right? I don't know any plan out there outside life insurance that has that capability where the premiums will get paid in the event of a total Disability if you have that way for a premium rider on that life insurance policy So there's there's so much bigger picture than needs to be talked about and we break it down in just the micro Like I say we we should probably if we look at what the returns on crypto But we should probably dump everything in crypto and just hope for the best well, you know, I don't think a lot of people would Would view that as a very Safe journey In the future not to say you may not watch some and I think it's gonna depend on the individual too of where those investments are if that investment doesn't really fit your personality or Or or what your goals in life are I think that's also a mistake I've seen it happen with client after client on the real estate side, you know real estate gets popular Everybody says get real estate Robert Kiyosaki big real estate guy. Well Real estate fits his DNA if we want to talk about like that right He knows how to manage it and how it worked and it was very successful But people who don't know anything about real estate or don't like it just invest in it for the money They're probably not gonna make any money off of it even though Somebody with the same real estate could if it's in their DNA for that particular investment So that also needs to be part of the picture. How does it fit your lifestyle and who you are right? So you know, it's interesting when we look at the marketplace so Even a lot of solid recent article about Warren Buffett and Warren Buffett the big investor grew right nobody's better than Berkshire Hathaway and He's always been a big 90 10 kind of a person 10% bonds 90% stocks Recently the portfolio has pushed up and I Want to solve just crept over 50% in bonds and all short term bonds now why short term bonds? He's you know, he he will not use long term bonds At least that's his his current position and the reason is because he wants access to cash Right and those long term bonds really take a hit if You know if you liquidate him early and so those short term bonds He knows he's always in a position of cash even though the returns on those short term bonds are not gonna be nearly as good as they would be a long term bonds But again that balances that portfolio and so that's public record we can see what's going on there and Again, it all goes back To being in balance in what our overall goals are and you know something that we've talked about before and That's being able to spend those dollars. So it's not just the accumulation side Something that also needs to be in our mind is why are we Saving money why not spend it all today and For most people it's the only reason they want to save money is for the future and Be able to spend those dollars doing it during a distribution phase spin those dollars when we decide we don't want to Go to work every day, right? And so if that's what we're doing Then we really need to have in our back of our mind as to how Spendable those dollars are gonna be out the future. How do we set ourselves up in Balance in what we're doing so that we have an optimal way of spending those dollars and it turns out That we may have less dollars They could provide more income based on where they are and based on the other protections or certainty that we have around that Then having more dollars locked up in a place that's You know a little more risky. Yep, and an example of that could be you could put all your money in the S&P Or do your do your thing and have a greater quote unquote nest egg potentially like you and we say potentially because we don't know what the future looks like That could be a bad Accumulation strategy depending on what years you you want or a quote unquote retired But like let's say you have a higher net worth and nest egg versus maybe someone who I wouldn't even use insurance Just has a more diversified Portfolio you might have less money in that that portfolio But that that portfolio that smaller could kick out more income because it has a sought a better stronger more diversified foundation Then then the then the person that has all their eggs and one Equity basket and so that's that that's an example of we got to think with the end in mind and anyone that's saving to invest is deferring consumption today to Consume in the future whether it's themselves are there Children or their grandchildren like you're deferring consumption for a future date and so our hope is that we get a Return on that deferral and that to you know, and so it's just we just have to think with the end in mind It's a rate of return is a measurement But that that might not transfer into cash flow in the future Because a higher rate of return doesn't necessarily mean that you're gonna get the highest cash flow guaranteed in the future And so where do you where do you want to go from here Todd? Like I know that there's a Lot of comments and like I said in the two buckets There was like people that were really criticizing the the fees that we used and the tax rate And so I don't know if we want to start there and kind of talk why we did that or Or I I also open to say let's just even take their assumptions Let's just say they're right. Let's let's play like does life insurance work Even if you're not paying any fees like would you still could you still justify insurance if you are managing your own Or own or own portfolio and I think if in this video if we can touch on both of those We would at least accomplish what we've set out to accomplish in this video to try to set the record straight not everyone's gonna agree with us But at least people can kind of hopefully understand maybe where we're coming from for why we're a big fan of insurance per But and and what happens is it's that integration That really makes it the best of all worlds right? We're not staying one or the other Let's see what the big picture integration of all those pieces do together and while life insurance You know we talked about it not being the investment side it is a great bond replacement So that's certainly side that we're talking about the bonds that Warren Buffett's leaning on the The cash that a lot of people Hold on to in real estate investing to make sure that you know if they lose a roof They have a way to put it back on or if they have some vacancies they can still make their mortgage payments across that time frame until things get Straightened out so it's that cash or certainty piece that life insurance plays a great role in while providing additional benefits that we wouldn't get from those other more typical Types some certainty assets does that make sense? Yes, it does Okay, so let's let's kind of dig in with that and We'll we'll take a look at it and see What we can do and we're gonna look over the last 30 years here. Let's use the S&P with dividends the best of the best and Let's put a 60 40 Portfolio in here So at 60% S&P and it's averaged 11.7 or the last 30 years as we can see there but less compare that with You know if we look at what Warren Buffett's done let's use one year treasuries because he needs access to cash, right? Yeah If we look at it in that scenario What we see now in the far right that's a combination that's that 60 40 portfolio And it shows an 8.06 percent return across this time frame that I just shoot the soon was no taxes And no fees ever anywhere. Let's turn on taxes for just a minute and I need to clarify a couple things So if we look at the S&P side a lot of people think if they buy into the S&P They don't pay any taxes They do what happens is the S&P to maintain its returns they reconstitute the the allocation of the different stocks in there when you do that those buys and sells create a tax issue, right? And it's been fairly low as to what's happened some of it's going to be at capital gains rates if the stocks that are being sold Have been held for longer than a year or it's going to be a regular income tax rates not the whole portfolio gets overturned in fact With the S&P there's not a lot of amount that gets reconstituted over time But let's just use a 10% tax bracket because only a portion of it and only its smaller amounts on the tax side And if we do that that moves us down to an overall of 7.16 percent look at that and I'm going to assume no fees on the S&P at all I know people say we can do it with 0.04 percent Whatever let's just not use any and when we did our example before we were kind of talking about using the S&P is just a guide And not that anybody was actually less than the S&P, but they had a Portfolio manager that was following somewhere close to what the S&P was doing and generating some some tax But let's let's just not have any management feel in this so totally Self-managed right yeah, all right And now then on the bond side let's put a tax bracket of 24% And let's put a manager fee of just one point and What we see now is an overall 6.5 percent so doing those ups and downs and what we're going to see in a life insurance policy Is only somewhere probably around 4 to 4.5 percent with current dividends You know work we've been experiencing the lowest dividend time and in history over the last 20 30 years So that's fine We'll just assume that goes out of the future which is also kind of an interesting thing What happens is people typically want to use the history of what's happened in an investment index And yet with life insurance they want to use that is whatever the return is from now assuming it stays that out into the future without getting Credit for the high returns we had in the past, but that's okay, right? The thing about it is it's it's a certainly vehicle that We can see falls you know short of the 6.5 percent certainly isn't overall But what we're saying is not to replace the whole portfolio with life insurance But what if I get rid of those bonds and shift that to life insurance? Yep, but before I do that what is somebody sitting in cash? What if somebody did it themselves? They said well, I don't buy bonds, but instead I've got I've got cash sitting here So let's first switch this to fixed and Let's put let's say somebody was doing 2% of their savings account overall combination check on savings and They wouldn't have a management fee on it Still gonna have tax on it that would actually push them up a little bit over over the treasuries Right, but what if we use life insurance for that portion? So let's switch that fix to 4% And let's get rid of the taxes And now we're up to 7.71 so it's a combination of those two and we're using the life insurance of the certainty portion So then when that emergency comes along we don't have to hope that it only happens when the market's up Yeah, that if the market's down we have a source of cash to lean on to get us through those tough times Or more importantly, I think is when a great opportunity comes along we don't have to sell that performing investment to take advantage of another opportunity instead we can lean on our cash That we have sitting there to take care of that piece and so that's that really works in my mind to a much better Peace when we're doing the accumulation phase and and not only did we get a better return But we picked up tremendous benefits, right? And that's a piece like we were talking about early on as that integration and looking at the overall Not just the overall portfolio not focus on just the investments But our our overall financial picture because what we've also picked up here is a life insurance death benefit meaning Right, we wouldn't have to have term insurance to have you know to be able to protect our family as if we were just in the market and bonds We would have to we also pick up something that you know It's hard to compare but included in that return is a waiver of premium disability benefit where The insurance company will actually pay the premiums for us If we are completely disabled now for most people let's say they have the best disability insurance they can have right It's gonna cover maybe 60% of their income Depending on what profession they're in etc. etc. But let's say they had 60% coverage well if If you dropped just 60% of your income overnight because of a disability What is the chance you're gonna be able to continue saving for the future? Right very little portions. Yeah, that portion is gonna go away now that you haven't saved for the future Well, here's the scenario if we have life insurance as part of the base with life insurance in place with a waiver premium benefit Rider what happens is you become totally disabled your income drops to 60% But the life insurance company now is gonna pay those premiums so that your savings piece continues to happen That's not available in other types of Investing and saving and so we really can't compare that to something else But that's an additional benefit in there that shows that our likelihood of being where we want to be in the future right As a higher percentage of actually happening, right? Yeah, and and I think for most people they've been tuned to an idea with Insurance or just protection in general is protection is gonna be a cost Against my wealth production But if it's integrated correctly they can both actually be on the same parallel path to where we can achieve both And get out there in the future as long as we allocate it correctly and look at that big picture So we know what's going on and that actually sets us up in a position to be able to better spin the assets out there in the future And you know we mentioned that did you have a comment on that? I mean, I always have a comment time Great the a couple things. I love the word integrated But if we just go back to okay, we looked at a savings account and we gave two two percent Some people might say well savings accounts will earn more than two percent right now We're looking at over 30 years and so it would be very dishonest of us to try to You know assume today's interest rates are gonna happen for the last last 30 years or the next 30 years So use two percent and you could argue anyone that follows this channel or understands You know how life insurance can be set up is you have liquidity That's something that not everyone understands But like you have liquidity you have access to capital that's a benefit and it earns Greater than a savings account. So like that's that's check when it comes to a bond a bond literally With long-term performance of insurance Just in-term rate return and then when you eliminate the tax taxes And it's already built in the quote-unquote fee that you would have to pay on a bond like insurance is just a better bond I I would love if someone wants to If someone wants to challenge that you're welcome on the show anytime to literally show me why Why bonds would be better for someone's portfolio in a short-term and long-term then life insurance I would love to have that conversation. I think the fact that no one has hit us up yet kind of tells you that that point And so you look at those two things But then then what you just did is now you stack on all the other benefits the death benefit Which is included and by the way does not represent in that seven point seven percent That you're like that you're we're not we're not incorporating the death benefit in that we're not incorporating the waiver of premium in that We're not incorporating this thing called chronic illness and accelerated death benefit writers in that We're not including the the type of creditor protection in that we're not including the Life insurance potentially could be way more certain than other bonds We're not we're not including all those other things and and yet in this example You're actually showing that you they get a greater growth rate Than other other areas. I think you could even go as far as to say even if you didn't get a greater growth The reason why we save and invest to begin with which maybe we'll touch on But the fact that it's even close And then you get way better benefits in a better future because of all the other benefits you get should be like A no-brainer for people to understand why life insurance would be a part of your portfolio No, we're not saying we're not trying to bash anything else in talking about this We're just saying it should potentially be a part of your portfolio So that's those are my comments. I love the Nate word integrated And I think that should be something that Regardless of who you are you should figure out how you can integrate more more benefits and get give yourself more benefits and what you're doing Yeah, it's it's really pretty interesting So you know, I'm not going to suggest to anybody to do anything that I wouldn't do for myself You know, we talked about real estate earlier. I played with real estate. I know real estate didn't fit who I am I learned that the the hard way um and so I'm looking at what I would like to happen for me And that's what what I talk about and if we're looking out there in the future You really hit the nail in the head look we actually improve the portfolio Overall my doing this and we added the additional Certainly benefits that are going to make that happen or more like that happen out in the future and personally I would rather have 90% of what I could have elsewhere is A possibility to know that that's more certain to happen then you know some Chance of having more than that right a chance of hitting a hundred percent With a likelihood of far less than that right because we're not set up properly And the thing about it is we don't know what's going to happen. I learned a new term Um at a conference. I was at recently. We've talked before about blacks ones on some of our some blacks one events right on some of our Our videos But there's a grace one are you familiar with that? I'm not no no so grace one events are really interesting grace so where blacks one Events are events We didn't know what gonna happen and we didn't know what they were right we couldn't We couldn't even have an idea of what it was like Covid as an example or and that's actually becoming more of a grace one And I'll explain that but like 9 11 right we had no idea that was gonna happen or anything like that a major terrorist Tax inside the United States right so totally off the charts that's black swan events but grace one or vets Are events that are likely to happen but we don't know for sure they're gonna happen to you an example 50% of marriages in the divorce Okay, so there's a likelihood of a grace one event because it's got a 50% chance here's something interesting that I heard I have it checked it up to make sure it's Uh, I haven't seen the actual numbers or stats myself. I just had heard this that that number actually goes up I think to 60% if you're wedding cost more than $10,000 Oh boy, that's not it for me I wasn't even possible these days like we're not we're not heavy spenders That's that's tough to do Right. Yep, so so it's just kind of an interesting thing those so there's this grace one events that there's a high percentage of likelihood That these are gonna happen and they you know, they may or may not but the point is If if one of those events has the potential to totally derail Yeah What we have then the fact that we had a chance of having more in the future just gotten blown out right I would rather have something in place that even if those events occur I can wiggle and be close to what my target goals were Yeah, right? It's really good There's probably a mathematical simulation that we could do when you start because I just wrote the Disability as well when you were talking about grace ones because It's easy to like look at these and it's like, you know, I don't know exactly what the status today But it's it's like one in three or like you know, and people but people never think of themselves are like well I'm never gonna get disabled or like this is never gonna happen to me or like premature death God forbid, but their people do die prematurely and when you start adding up all the grace one events And you put that into a simulation of what's the possibility of divorce this disabled, you know all the stuff It would be pretty It would be pretty interesting to see the likelihood of You know that happening how many times happening and the at you know, I'm sure there's like severe Grace ones like premature death and maybe less severe ones But it would just be interesting to get people to start thinking of like That that mentality which I appreciate you bringing up because You brought up just divorce, which is a huge, but that's just one grace one out of many that that we could be navigating in our lifetime Right and so so we know when we you know, we go look into the past For people that you know have been in the workforce for a while you can look back and say well, you know Not everything went exactly like I thought it was going to is that likely to happen that same track into the future You know you mentioned disability and you were right. I think it's it's one in three have a chance of being disabled for six months for more but it's like 14% have Of people have a likelihood of at least one 35 months disability or more If we could cover The downside of that without it costing us on the upside That's a win-win, but the only way we know to do that is when everything is looked at And how everything fits together if we just take one asset and compare If I put everything in the S&P or crypto currency And Versus put money in life insurance. I mean, that's a terrible comparison and you're right life insurance is not going to do what that would do if that does what you think it's going to do How's that? I'll have to relisten to that But yes, I'll pick your word on that made sense the uh Yeah, I'm just I'm just thinking out loud here it would be a really interesting calculator to Look at different variables and we we could pull in the statistics of what that happens and almost be like okay You have port you have strategy a versus strategy b and you know, we lay it out and try to be as fair as possible but then We like we take the different blacks ones and grace one events and we see like you know What would what would be the reality if this thing happened and this thing happened and it would be interesting for Clients to be able to see like you click this one box and boom like this is what the current strategy looks like It could be like a 50% loss in the market. How likely is that? I don't know but that that that could very much that could happen It's not I'm not saying it will but it could happen History has shown that something like that could happen. So it's like it would just be interesting to start seeing like the different scenarios And and what you'll find is what we're talking about will stand stand stronger In the midst of a lot of those Hence, you know, so I there's a lot of things I could say I don't want to be Yeah from what we're talking about, but I think it is important to give a little bit of context Well, and we've started to look at that Actually in one of the calculators I have what I think we've shown before the max potential calculator I have the ability to put a a disability for a period of time and see what happens If we have that disability versus if we have disability insurance in place to be able to cover that piece and what that costs us Over the long ride and so we can look at some of those pieces the biggest issue is it's We can look at it in a laboratory But we have to step back and look at how we're really protected overall because even when we look at a laboratory What happens if you lost income across this time frame? Well, we've got a lot of other variables too was the market up or down when that happened if it was down And we have to pull from it the devastation is even larger than before and I look at it as like momentum So think about it with a car You know, do you use more gas getting up to speed? Or when you're at speed and you're just maintaining and so that momentum piece is really a killer And I haven't run the numbers yet to see if the correlation is similar to you know the percentage more that it takes to get momentum going Versus just maintaining what you get there versus You know having to stop at a stop side and then pick it up again the same thing that happens kind of in somebody's Saving and investing over time right? Yeah Is there anything else that you want like do you think when you look at all the comments? Is there anything else that you want to touch on? But I think I think it's a place to start I Here's the thing somebody can always beat up whatever we talk about because you know Say well, what if the market never went down and stayed at 12% every year? Okay, well If it does it's gonna beat everything that's out there now is that a likely occurrence And I don't know But overall I think the only thing that we didn't cover Was the one person that said something to the effect of well you use the S&P without dividends what if you use it with dividends um, and that was the only time we used the S&P without dividends was when we were looking at it at uh indexed universal life policy which doesn't allow The dividends and the reason on an indexed universal life policy we don't get the impact of the dividends is there's no actual Investment into the market in an indexed universal life policy all the index is doing is Determine in the allocation to cash The percentage that goes of the growth based on what the S&P's growth was and so that's the reason That piece is like that, but again, we didn't we didn't use that as a comparison of somebody investing actually in the marketplace It was only to see what the the index impact has on indexed universal life policy Yeah, I think that's well that's well said I'm in a post our video that we did on retirement distribution I think we did like two videos on that and It's impossible for us to get into that in today's video of just like the depth that we went But we have videos that have gone through like just looking at retirement distribution And and so that's that's important to know because if you couldn't understand that and the discussion that we have I think that will paint a Maybe a more clear picture and then I will say is if you're watching this and you feel like you have a different perspective You're welcome on the show whether it's with Todd and I or just with me I would love to hear perspectives. I think one of the purposes of this channel is to increase IQ financial IQ and get people to start thinking differently and I think part of that is the power of conversations Todd I've had two people so far that adamantly disagreed with me in the comments Come on the show. We have not aired it yet But um both of them have at the end of the the the recording was like oh I I totally see where you're coming from like the the total perspective change because number one I don't think they're crazy. I'm totally understand the paradigm and the principles which they're they're highlighting And so it's like if we can speak to that and seek first to understand But then we can also be like hey, we're not crazy either and here's why It's I have never had someone not at least acknowledged that's like okay. I get it So I would love maybe to get beat down sometime and but it hasn't happened yet but I welcome the conversations and I appreciate you for setting up conversations that even get us to this this point because if I'm not doing Yeah, um videos with you We're not getting these type of comments and not drawing in potentially the viewers that are that are now exposed to something like this Any any final words or thoughts that you want to talk about? Sure. I think A big part of what we've talked about just to kind of reiterate a little bit is the importance of having a total picture plan if you want to call it strategy um, that works under all scenarios or as many as possible and and and that's critical because if we make a mistake And we didn't cover a base the demonstration can Be huge and it's harder as we get older Um, because of time being able to catch that up and why nobody really likes looking at that big picture piece It's so vital and that's why it's so hard to understand how life insurance fits its that integration piece Is because everybody wants to do just the life insurance return to the best thing they can come up with instead of A complete strategy that includes all of the pieces and parts and has a discussion around what happens if premature death occurs what happens if a disability occurs what happens if the markets don't do what we hope they would do what you know All of that needs to be in there and unfortunately those things are hard to measure Right, you can't you can't really put a rate of return on it and yet the impact of it could totally devastate A plan that's the doesn't incorporate that or strategy that doesn't incorporate those pieces and parts and so So we really need to sit back and and be open as you said to all the pieces and parts. Let's make sure That we're covering every every scenario as much as we can Yeah Todd thank you if you're if you're watching if you're watching this and you're like That's super cool to have calculator system that shows you can add Treasuries and bonds and different S&P and investments and blend them together with finding the actual rate return when you factor in taxes and different scenarios We'll have a link down below where you can find more information about truth concepts If you are an advisor if you're someone that helps people with money I would highly highly recommend you check that out There's some really cool things that you guys are continuing to flesh out and making just being part of the community that you've built really really important And then if you're someone watching this and you're like I would love to talk to somebody around what it looks like for potentially my Financial life or does life insurance make sense? We'll also have a link directly for you where you can learn more about Life insurance and if you want to have a conversation with someone on our team We'd be more than happy to chat with you Todd. We have We're going to continue our series. We're going to now go into Houses mortgages velocity banking. So we're gonna excited excited to hear some of the the comments around that And then I'm also looking forward to the continual content that we are making together Thank you for making this a priority and I always very very much appreciate your friendship Well, thank you Caleb. I really appreciate what you're doing getting the message out there I I think you can fix a lot of the problems That people experience over time and they're you know just devastated by it Well, I had no idea this could happen. Okay, that comes from having a complete integrated plan That you have the ability to help people see You