What If It Did Work?
What If It Did Work?
The Wealth Secret Banks Don't Want You to Know
Have you ever wondered why, despite following conventional financial advice, true wealth seems elusive? Doug Peacock, founder of Peacock Wealth Group and former football coach, reveals a financial strategy that banks have been using for centuries but rarely share with the public.
After watching his retirement savings crumble in 2008, Peacock discovered what he calls the "broken American financial system" – a game designed for us to lose while institutions profit. His solution? Creating a personal "storehouse" through specially structured whole life insurance policies that provide guaranteed growth, tax-free accumulation, unlimited access without penalties, and protection from creditors and the IRS.
The most fascinating aspect of Peacock's approach is how it mirrors banking strategies. He explains that Bank of America holds $22 billion in cash value life insurance as a Tier 1 asset. By implementing similar principles, individuals can create their own "family banking system" to finance purchases from cars to education to business equipment, then pay themselves back on their own terms instead of enriching financial institutions.
Unlike traditional retirement accounts that lock your money away until 59½, this strategy provides lifetime access without government restrictions. "90% of America saves money in a place that we can't get to till 59 and a half," Peacock notes, which makes little sense when life's major expenses happen decades earlier. He's helped clients across the economic spectrum implement this approach, from single mothers to high-net-worth individuals, typically recommending around $500 monthly as a starting point.
Peacock's passion stems from helping his former football players escape student loan debt. Their success led to helping their parents, which evolved into a mission to educate everyday Americans about financial strategies previously reserved for the wealthy. Ready to take control of your financial future? Visit peacockwealthgroup.com to learn how you can become your own banker and build wealth outside Wall Street's game.
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I never told no one that my whole life I've been holding back. Every time I load my gun up so I can shoot for the star, I hear a voice like who?
Speaker 2:do you think you are all right? Everybody? Another day, another dollar, season five, another dollar. Another episode of my one of my favorite podcasts. Yes, I'm biased. What if it did work with me? I can't wait to have this conversation with an intriguing man, to say the least.
Speaker 2:Doug Peacock, ceo and founder of the Peacock Wealth Group, focuses on helping individuals navigate the financial challenges that often stand in the way of lasting wealth, namely volatility, uncle Sam and the dreaded T word, taxes and unnecessary risk Means. When you're 50, 60, 70,. Nvidia looks amazing, man, doesn't it? Until it hits that proverbial falling knife. Keep on buying Palantir when you're at 60 and 70.
Speaker 2:It looks good now, but with nearly 40 years of experience as a successful football coach, doug brings the same discipline, strategy, focus to his work in the financial world. His goal is simple to share a more thoughtful, intentional approach to building and protecting wealth, one that doesn't rely on conventional methods or leave your future to chance. Doug's passion lies in educating others because, man, doug, just reading all this man, you are a guy in service. I mean you, absolutely. I know the Peacock Wealth Group. You created that to help others, because I mean anybody that's successful. You could have just been like pack it in and said hey, you know what, that's their job. To find their own, their own way. That's, that's, that's not my job. I've heard that from, uh, you know this one. Well, nobody was there for me. And what? What does that mean? Because, because I've heard that from, like, usually that's somebody in the scarcity mindset, sure Right.
Speaker 3:Absolutely.
Speaker 2:Don't we want to see everybody win. Sorry, life isn't fair and some people had to, you know, crush it and work grind harder than others that doesn't mean once you find success I mean you don't want to be the stereotypical guy with the monocle that Hollywood paints, because Hollywood loves to paint the wealthy guy in every movie he's like this nefarious, sinister guy that's so greedy and he just wants to own the town, wants to own everybody and he's just miserable, right right?
Speaker 3:Well, I don't think. I'm going to back up just a little bit to your comment about scarcity mindset and I think if you're there, then that automatically comes with an idea and a concept that if I win, you have to lose pile like a finite pile of money.
Speaker 2:They don't understand if Uncle Sam has that Xerox machine printing 24-7 money. Money is like the imagination man it's infinite. We can all be successful.
Speaker 3:So I think and that's literally the hardest part of my job is to get people to think differently, and I try, you know. I truly believe that the American financial system is broken. I think it's a game that we're set up to play that we're not, we're not supposed to win.
Speaker 2:Okay. No man, but if, even if you think about it, our benefits. The reason why Social Security kicks in at 59 was because back then the life expectancy was like at 60.
Speaker 3:Like 60, right, correct, correct.
Speaker 2:That's why they came up with that magic number back then, right.
Speaker 3:So there's so many things out there, um, that we believe that just aren't true. Uh, but they've been told us year after year, decade after decade. You know, and we and we think it's true now. But yet you know, the majority of people in the United States are not rich. So why are we doing what all the poor people are doing and not doing what the rich people are doing?
Speaker 2:Because we love to follow the masses man, but we also love to follow Madison Avenue, that's fine, have at it.
Speaker 2:This is my favorite commercial and they run it every christmas time. The, the guy that buys his wife the lexus with the bow, and you know it snows, it's snowy outside. He, he pulls up and she's just like. She is like so smitten in reality. She's like what the hell did you do, man? You just were drowning in debt. You just increased. We bought a depreciating asset without consulting me, but you know, madison, you know it's like so romantic in the commercial.
Speaker 3:I promise you, if I came home with that call from my wife, it would be ugly, so it wouldn't be like those Lexus commercials. No, no, it's not going to be anything close to that, but I just, I just think there's so many things that we got to get our heads around that. The first, you know, right back to your scarcity, thinking that you've got to admit that maybe what you thought was true isn't true oh I, I scratched.
Speaker 2:Oh you're gonna laugh. I scratched the record and changed the focus, like I was always like a contrarian. Yeah, well, you know the only thing? I became a contrarian once, like I was a kid and academia was always like, if you don't go to college, you're going to be living under a bridge or or doing unspeakable, unspeakable things to men for money. So it was always like, oh shit, so cause, you know, academia, there's no trade schools, there's nobody out there that that's uber successful, that doesn't have a degree according to academia. So I I learned that I'm like, oh my god, I can't, I can't. So, like I graduated, went to the rural world and I had a bunch of people at the company I was working with fellow graduates from lsu and we're Right, next to us were people without college degrees. How can that be? This is so unfair.
Speaker 2:And then you know, like life, and it's funny because man, it's still working, that's why it's beaten inflation, the cost of tuition, because they've made it so now that if you don't go to the right school and if you don't go into debt and unforgivable debt, then you're like and never since then. Yeah, that's why, whenever you know, when the masses say do one thing. That that's why you know we're speaking. Well, nobody does this because you know everybody thinks he's old and goofy, warren Buffett, when he says, you know he's contrarian when everybody like right now, everybody's, when, when Joe Bob the plumber is all of a sudden telling you Palantir he doesn't know what Palantir does or NVIDIA, but he heard it bet heavy on it. That's when it's, yeah, it's, it's still going up. But what happens is what goes up in any economy. You know 101 must come down. Usually what happens is the institutional investors already pile out, while they get the retail guy, you know, piling back in and you're in it for the long haul, yeah exactly Now.
Speaker 2:I'm a long-term buyer. I love that the long-term buyer or let's dollar cost average. A million years ago I was a financial advisor and I was trying to switch over to Morgan Stanley. This is aging myself and in the bullpen everybody is pitching enron stock to the retail joe bob invest for mom and pop. It's at two dollars a share. Just imagine this stock was only at 70 something dollars not too long ago. You need to buy this stock, hand over fist. And the worst part was all of them knew that this, that it was like a house of cards that was coming down. But they, they, they needed someone to prop it up so they could still get out of it yeah yeah, but yet that that's who they listen to when it comes to their money is.
Speaker 2:You know which they don they? They watch wall street or whatever. They don't realize like they're like, oh, I must've. No, it's a sales job. You know, you work for Edward Jones, you work for whoever. We need you to push this stock this month. We need you to push this mutual fund company, all your preferred funds, just like a doctor, whoever. Whoever takes you out the most is the fund that you write the most for, absolutely.
Speaker 3:So I mean you know, the bottom line is we have given control of our money over to people who we think care more than we do about our money, and that's simply not true. They're the experts, they're the gurus.
Speaker 2:Not in my book. Well, I mean, mean, sometimes it's common sense, like like with bernie madoff if the market is tumbling, everybody's taking it right in the nuts, including warren buffett, charlie munger they lost, not, not, not like the, the normal investor, but everybody's bleeding out, but this guy is like having 20 returns right in those years, yeah, yeah, and you know every oh, I, I didn't see it, you didn't see it. What in your, your investments that you there, he was such a guru that everything he bought turned to gold.
Speaker 3:There was never, you know, never, any red there, there will always be bernie madoff's with us, because you you'll never legislate morality no.
Speaker 2:And then pt barnum says there's a sucker born every minute and um.
Speaker 3:The bottom line is you've got to learn some basic control of your money, or they're going there. If you don't have a plan for your money, they do and they're going to win.
Speaker 2:Always I got to ask because clearly you were a football coach. Usually a football coach, back in the day he's a sociology teacher or he teaches math. What got you from that all those years? Yeah, it's, you know, being the guru when it comes to.
Speaker 3:I wasn't even a real teacher, I was a PE teacher, okay. So we literally had the weight room cranked up all day long and kids could take credit for weightlifting class. We were kind of in front of the curve here. But um, then, in 2008, uh, 2008, nine school year, I, uh, I tried to retire. So I watched my four oh three become a two oh three, twice, you know, and I'm going there's, you know, and then, and then my agent, my agent, my advisor, told me well, we just couldn't get the market to cooperate. I said tell me when you've ever done that?
Speaker 2:you know well, yeah, because I wish I could, I wish I had. I was like literally an oracle and I'm like, okay, microsoft is opening up tomorrow at 6% because of earnings their high for the year will be in seven days and I could I can, you know, sell all the Microsoft and I'm like, when will it hit the 52 week low? So I can pile with.
Speaker 3:Yeah, nobody can do that week, whoa, so I can pile with. Yeah, nobody can do that, so I don't get. You know, I, I uh have a drastic aversion to the stock market. Um, I don't deal with any of that. Do I think it's a good place to make some money? Yes, if you know what you're doing, okay. But if you don't understand what your investments are, I mean, I've got people who are buying grass fed cows because they want a certain breed, they want a certain line. That price of that cow or the new, the new cows coming in, fits their budget and fits what they need it to be to make sure their farm is is successful. And, uh, you know, it's not limited to just making money. I want you to buy an asset that you understand, that you know you're, you're going to follow it. Whether you have money in it or not, it doesn't matter. I just wanted to make sure that you love it, you understand it, because then you're going to work in it with all of your heart, and that's what I'm after.
Speaker 2:So then, doug, what you're saying is those, all those emails and those phone calls on. I can invest in whiskey barrels, even though my only knowledge of whiskey is it tastes pretty good and if it's made in Kentucky it's a bourbon, if it's made in Scotland it's a scotch, everywhere else it's a whiskey. They always tell me it's a good investment. Just buy it by the barrel.
Speaker 3:So it was funny because in Indiana and I went to school in southern indiana, in bloomington, and kentucky wasn't that far away. So you go down there and talk to these guys, well, they've all got that old oak barrel that you're talking about strapped in the back end of their truck and then you open it up and it's obviously it's been aged whiskey in it, or bourbon. If you're, it's bourbon, cause, yeah, it's from Kentucky, so they would have water in there. Yeah, take a shot of that water. Well, man, you tell you I'm in shocks, it's yeah. Then then, uh, it was hilarious, cause one of the guys started putting red wine in it and it got the bourbon and the oak into the wine. Well, and then he, you know, so he tripled the price of his want, his, his wine, just because it rode around the back end of his truck for a couple months but that's the guy thinking outside the box, that that's somebody that's that's thinking how can I make money?
Speaker 2:because there's so many infinite ways of investing and infinite ways of just creating wealth. What stops us is just our imagination and and the fear because we always fear, you know, with common sense, goes out the window when it's up, you know, once it's invested. But to invest anything, a lot of times it's like, you know, steven spielberg and jaws we're afraid that everything's going to go to zero, that they're even a cd. Well, how about if red dawn happens and you know the, the ruskies and the nicaraguans and the cubans take over? You know, everybody goes to the worst case scenario instead of because, I mean, I, I tell people, I would tell my kids this story.
Speaker 2:Usually it was about competition. I said business is, yeah, you can't have your emotions in it, but your competitor wants you to eat cat food and it's it's I want. This is the way I look at it is if you don't invest your money, if you don't have enough for retirement, because everybody goes low, everybody thinks that. Well, everybody thinks $1 million makes you Uber, we're waiting on, because that's grandpa's number. Everybody says $1 million. Yes, you've been saying a million dollars since, like 1960, there's this thing called inflation. You know, a million dollars in 1960 is not the same as 2025.
Speaker 3:You know that's and that's crazy, because, like a thousand dollars a month may sound like a lot of money to you right now, but in 20 years, you know it's, it's a piddlance.
Speaker 2:Oh to you right now, but in 20 years. You know it's. It's a piddlance. Oh, could you that that be a hard. It's funny because you know the poverty level in the united states. To for uncle sam to deem you as being poor is like sixteen thousand dollars. I'm, I'm like holy. How the hell can somebody live off of $16,000, man. That's a bigger nightmare than any scary movie out there.
Speaker 3:So I try to get everybody and literally, like I told you before we started recording, I never intended to do this. My retirement went sideways, like everybody else's, and I had to find some answers, while I ran into a fellow and he started teaching some things and really got upset because I felt like my, my advisors had taken advantage of me and the guy that was teaching us said coach, they don't know. I said what do you mean? You don't know. I mean it's like any football coach knows he can throw the football. He just may not want to because his quarterback sucks or you know he doesn't have anybody can catch it. But the bottom line is everybody needs a storehouse and this, this is the biggest difference in what I do. I don't invest money, I put it in a storehouse. I don't invest money, I put it in a storehouse.
Speaker 3:Okay, now, what do I want out of my storehouse? Of course I want it to grow. I would love for it to be guaranteed growth. I would love for it to be guaranteed more next year than this year. I would also like tax-free growth. Take care of the big T word, right. I would also like liquidity, or access to that money without taxes, without penalties. I would like it private, so it's off the radar screen of creditors, predators and the internal revenue service, by the way, and set up that money so I can access it whenever I want to and then, when my mission here is over, whenever I want to, and then, when my mission here is over, I can leave it to my beneficiaries tax free, and that's what I try to get everybody to start a storehouse. Now, once you do that and you run across, example March 2020, covid.
Speaker 2:Oh, I think every March 13th, I think or 14th. Pretty close. Yes, around there.
Speaker 3:The two weeks. But I know Disney stock dropped 50% in one day. Now I'm not a stock guy, I'm not going to tell you any stock picks and that's don't. Please don't take this as that, but I coached 13 years in Florida and I was seven miles from the mouse factory Okay, that's what we called it. I know Disney's going to make money. I don't care what comes along. Disney's going to find a way to make money and I it was a great time to take some money accessible from your storehouse and go buy some Disney stuff.
Speaker 3:Well, within five days it was back All right, you know, and plus a 27% return. That's what you're looking for. So I just want everybody to storehouse. Don't invest it. Store it Now, get as many benefits as you can out of it.
Speaker 3:So you also got to understand that where I store house my money determines how many more checks I write to the IRS, united States treasury Cause, if I can get that tax free, I'm taking it. Cause if I can get that tax free, I'm taking it. What if I? What if I could have a Roth on steroids, not limited by how much I make or not limited by how much I can put in? Okay, um, the IRS code says I'm going to pay um an income tax once on money when it's earned. Well, okay, I'll pay it once, and then I want it to disappear from the radar screen. But yet, as the common American, we pay income tax every year, oftentimes on the same money, year after year after year after year. It also determines if I want to pay lifetime fees to my advisor or not. You know, cause there are places I don't have to pay fees. Okay, and and and, everybody boohoo's and all that about it.
Speaker 2:But well, to be fair, Doug, the only ones that boohoo about that are the ones that are making money off the loans Absolutely, or the ones that charge the fees. Because that's how they get bread and butter.
Speaker 3:I mean even that. I mean, you've seen the commercial, don't? You want a fiduciary taking care of your money? My God, Bernie Madoff was a fiduciary. All right, come on, know the heart. And here's what I want you to do.
Speaker 3:When you sit down and talk to your advisor I don't care if it's Zoom, I don't care if it's online, I don't care if it's in person but if you get to them and you talk heart to heart and you feel like you've learned something, that's the advisor or the guy you want to talk to, because he's talking about his heart. He's not talking about making money. Now, is he going to make some money? Yes, all right, but we've all been taught that you don't want to pay commissions, are you crazy? Well, would you rather pay 6% up front or 1.5% every year on the total balance of the program, of the account balance? Now it gets real simple. The numbers are not even on the same planet, but yet the entire average American hard worker that's going to work every day and Saturday and some seven days a week. They're cranking, but yet nobody's taught them how to get that money away from those taxes, how to make it private, accessible.
Speaker 3:So I literally teach um some people call this, um uh uh. Bank on yourself where you've got a storehouse of money and I can leverage that money to go buy a car or whatever I need to buy. It could be a wedding, it could be an education, it could be whatever, and that's what we do. But I do want you to understand it's not an investment. In fact it's life insurance, and you want and you know if I, you can't get over that word. Now we're right back to to learning that things may have the wrong connotations to you. So why has this worked for 200 years? Why did Walt Disney use this when nobody would loan him money to start Disneyland in Anaheim, california, the McDonald's brothers, you know, ray Kroc, where do all these stories go to? So I want to make sure we understand. Ever buy life insurance as an investment.
Speaker 2:Tell that to New York life.
Speaker 3:I understand, I understand, and there's I just, I just no.
Speaker 2:I, I, I know their business model, I understand that everybody you know they do the graph, you know, oh, let, let. Let me show you how much it's going to. It's going to be five years from now, 10 years from now.
Speaker 3:Well, so let's talk about, let's talk about compound interest, cause we think, we think that's true. Right, and it is. Except you don't get it because Because every time the market dips, drops or corrects, you lose money. Every time your advisor hits you with a fee, you lose money. Every time you have to pay taxes or penalties to access that money, you lose money. So your hockey stick ends up being a bunch of broken sticks for the burn pile somewhere. And the truth is, I have to have uninterrupted compound interest for that to work and, truthfully, that's going to be 30, 40 years down the line. It's too late. Okay, now, I want to do that. I want to keep my storehouse there. Okay, now, I want to do that.
Speaker 2:I want to keep my storehouse there, but I'm going to go buy an asset that I know is going to grow, that I can make money on, and then I can turn right around and use that money again to leverage and do it again. Are you going to?
Speaker 3:give an example, or are you just going to keep me? Um, you know, so for um, let's, let's just take me for example, because I never take you, we'll take you, doug. I never thought that I was going to do this, but I, I, I, every policy that I own does not have to be on me, which is a great deal, because six, five, 350 pound offensive linemen are not insurance companies favorite people.
Speaker 2:Usually not, and if you look at the scale they're past morbid obesity too yeah.
Speaker 3:Even though we don't.
Speaker 2:We don't count like muscle and you know.
Speaker 3:I started all this on on my wife. Well then I learned and I I I truthfully wanted to put enough money in to make sure it worked, and that's where I started. Well then I realized, yes, it not only works, it works better and faster than what I was told. So today I literally have 10 policies. Now, why do I have 10 policies? Well, because I'm married, I have three kids and I have six grandkids. All of those are separate storehouses. Are all of them making money? Every one of them? Are they guaranteed to be worth more tomorrow than they were today? Every one of them. Do I have access to that cash value in those policies? Every one of them? Here we go. So let's talk about banks for a minute, because that's where this secret to me, this secret, becomes very visible.
Speaker 2:So when I think of banks, I think of now. They're sinister. They want you to deposit money there so they can invest they can make money off while they give you horrible returns, and it's always been like that.
Speaker 3:But think about the small business guy. They want you to put your money in there. Leave it in there so they can take your money and go out and invest in somebody else's business.
Speaker 2:Oh, yeah, yeah, A lot Chase, you know.
Speaker 3:And so let's say you find a bank that's going to give you 1% on a savings account. I know they don't exist, I got that. But the next guy behind you in line, he wants to borrow money for a car at 6%. Okay, well, everybody thinks the bank just made 5%. No, they didn't. They turned a dollar into six. Cost them a dollar to make six Guys, that's a 500% net return.
Speaker 2:You know that's why Jamie Diamond's always smiling.
Speaker 3:Why can't I do that? Okay, or I own the bank, I own the money, I own who own the bank. I own the money, I own who gets the loan. I own all the repayment plan. I own all that myself. So that's and that's literally, that's literally what I started teaching that you know there's a?
Speaker 3:There's a term out there, omar called, called Boli B O L I, and it's bank owned life insurance. Banks are the number one purchaser of cash value life insurance on the planet. Why? All the same reasons we just talked about guaranteed growth, tax-free growth, liquidity without taxes and penalties, privacy off the radar screen of creditors, predators and judgments. In most states, including the IRS, bank of America as of 2024, had $22 billion in cash value life insurance. They're a tier one asset. So that tier one asset can't be at risk. It must be there for the, for their clients, all right? Well, shucks, that sounds an awful lot like what I want. Might be might be a lot less zeros, but the concept is still legit. So I, you know, I just try to try to teach people.
Speaker 3:Look when, when you become the banker, you get to control the money. Every time that money moves, it makes money and somebody gets paid. Right now you don't have a clue who gets paid. When you become the banker, you get paid, yeah. So I mean, we finance kids' cars, we finance kids' education. We financed, um, you know, build outs on businesses.
Speaker 3:I mean, um, son's a chiropractor and he had a, a digital x-ray machine go down. Yeah, Hello, $56,000. Now if he was a traditional guy he would go into, you know, small businesses, you know, or a bank, or somebody started begging and kissing the ring of the of the loaner. But no, we're going to put as many policies as we need together to come up with $56,000. And then he determines his payback schedule. And that's the crazy part. You can. You know what if you have a couple of bad months, ain't nobody coming after the digital x-ray machine? What if it's a car? Nobody's coming after your car. You're in charge of the of the repayment. You know plan. So you know the sweet part about it is you control the money, you control where it's going and you control who gets paid.
Speaker 2:So what you're saying is this is way easier. Now can anybody do this? I mean, how much goes into it. How much skill, doug, do we have to learn from you?
Speaker 3:to be able to do this. I will tell you this it's not a do-it-yourself project. There are some things you must have in place, or you're going to get to deal with the IRS who have no sense of humor. You're going to find out that everything becomes taxable and you're going to do some different things to make sure you know, to make sure that we're okay. There are five IRS codes that talk about money being tax exempt. That means there's no line on a 1040 for you to even write it on. Why am I not using those? Because the banks do so anyway. It's not a do it yourself project. But I'll also tell you this A high school football coach figured this out.
Speaker 3:Okay, he's a PE major. Okay, come on. You know, I promise you I was not the sharpest crayon in the box. So, um, it's, it's. I mean, I have, I have single moms that have policies. I have everybody in between. I, you know I was born to coach and, and you know, raised in that era and helping others. But the bottom line is, that's who I like to help. I like to help the teachers, the firemen, the people who are out there trying to make a difference in the world every day and just getting run over most of the time. But yeah, we have, then we also.
Speaker 2:Now, how long did you from football coach to becoming profitable? How long did it take? From shit hits the fan, Doug realizes he doesn't have enough to retire on your own terms, Right, Because I'm sure that was like the initial shock was like holy shit, Like how long from there going?
Speaker 3:forward.
Speaker 3:Did it take you? So you got to find plan B pretty quick. Well, the neat part was I had not resigned my teaching position, so I was still going to teach at the high school until I got enough years and age in to meet their full retirement, which ended up being three years. So I had to teach another three years. But the great part about it was I wasn't coaching at that time, I was just teaching so I could run home.
Speaker 3:And the whole thing that I started this with was to get my former football players out of student loan debt because we were opening a policy up on the kid, on the student, student, the athlete, you know. And the nice part is they're 18, 19, 20 years old. They fly through underwriting because I mean, they got no bad habits, I got none of that yet. And yet they turn around there and I show them how to leverage that money to go kill Sally Mae every month and then they put the money they were paying sally may back into the policy through the insurance company. When that happens now they get to use all that money again and again and again and again and our average ended up we had them out of out of student loan debt in about five years, two months. But the difference is they had twenty five thousand dollars sitting in that cash value when they were done to do whatever they wanted to do with. That's not a bad place to be.
Speaker 3:So then, as we continued to do that, um, I was. I was doing that after school, you know, I was just. I would go, you know, have a couple of guys I would run by and see, or even at their job site, you know. Or take a pizza to the house for supper and say, hey, I want to show you something, come on. But the but. The bottom line is they knew me already. Um, they knew I wasn't going to lie to them. They knew I wasn't going to lie to them. They knew I wasn't going to take their money. They knew that I liked to win. So here we go, let me show you how this works Totally new to them.
Speaker 3:Well, eventually, mom and dad said time out, what are you doing over here with Junior? And that's when I never intended to do this, but that's when I found out mom and dad are carrying a lot of debt too. And you know, mom and dad are, uh, have some different challenges. Sometimes they're older, sometimes they're not as healthy. Sometimes it is still life insurance, so there's underwriting.
Speaker 3:But, like I told you, not every policy has to be on me. It can be on business partners, it can be on family. Like I told you, not every policy has to be on me. It can be on business partners, it can be on family. I mean it's, you know, I mean my. I have a seven month old granddaughter who has a policy. What's that thing going to be worth in 20 years? You know? Oh shucks. Now it's still in grandpa's name, but it's literally one signature on a ownership line and she gets the policy. That's a heck of a graduation present, wedding present. However you want to look at it Now, if the kid turns out to be a crackhead or something he don't even know, the policy exists.
Speaker 3:No, I'm not giving you that money, no. But if you've shown that you want to do the right thing for what you want to do, it could be go to a trade school, it could be go to college, it could be start a business Guess what? We're going to finance that through our, our family policies. You know, system of policies, yeah, so it's absolutely amazing. And once it's, it's, we've been told we can't understand money and that's a total lie. And I try to tell people I'm a PE major. Please understand. I did not. I did not go for extra degrees.
Speaker 2:Come on, Doug, it's kinesiology brother.
Speaker 3:Well, I had to take a semester of it. I took it and passed it and I was done.
Speaker 2:So now, now there's the whole peacock family know how to do this, how to replicate all of my children? Absolutely yes, that's what I, I, I I didn't mean your cousins I'm just telling you that.
Speaker 3:No, so. So my oldest grandchild is eight, okay, and the youngest is like seven months, so they all have policies on them. Now papa owns them all, okay, so I pay the premium, I control the money. But the the neat part is we have yes, my kids know they have policies of their own. I have policies on my kids, you know. This doesn't didn't have to stop with one. So, yes, we're.
Speaker 3:You know, our entire goal is that my grandkids never have to see the inside of a commercial bank, commercial bank. They will have a family bank that they can go to and explain to the elders of the family, if you will. Here's what we want the money for, here's how we intend to pay it back and we go from there. But, yes, they must learn. They must learn how, this, how many families don't talk about money? We just don't talk about it. I mean even today. No, we're going to talk about money. We're going to talk about how it works. We're going to talk about how to control it. We're going to take a make and make sure that they understand that when their mission on this earth is over, that it passes back to the family trust.
Speaker 2:Now. So then, all your grandkids, you're teaching them, since they're toddlers.
Speaker 3:The value of money. So their first lesson now for about half of them, honestly. So when we have a family money meeting, we all get together. Well, their attention span is, you know, seven minutes. And then I set that meeting. But what we did is we put a shield together and then we decided what was going on the shield? Well then we went and copied it real quick and then they got what was going on the shield. Well then, we went to copy it real quick and then they got to color it. Okay. So it's very, very easy for them. They're not. They're. They're not old enough to understand what we're doing at this point no, no, I know that, but.
Speaker 2:But you're teaching them about you know they will. Okay.
Speaker 3:They will Exactly. Oh, you want to buy a car? Let me show you how you do that. Oh, by the way, it's your policy. Now grandpa hangs onto it for a while to make sure they know how to use that thing. But my gosh, what? What happens at age 20 or 25? And and I don't, I don't need the policy anymore. Why don't I just sign it over to them? That's, that's a heck of a wedding gift, or a heck, you know, whatever gift you know. Now, all of a sudden, they end up with a, a, a policy full of cash value that's going to grow more every every year than they put into it at that point. Oh shucks.
Speaker 2:Yeah, because I mean, I wasn't really taught. I don't think a lot of us were taught how to multiply money, Not even how you know. Usually what we're taught is what CDs at the best money market savings.
Speaker 3:I just, you know, no, we're going to teach everybody how this system works. We're going to teach them how to use them and, honestly, as we get started, I mean it's only eight years that we've been into this, it's not that long. Um so, for somebody to come in and finance a house, we can't, we can't do that yet. Okay, but for every car, for every, whatever you know, yes, we can finance that and we make money back through the insurance company. Now, back where I was talking about.
Speaker 3:It's not do-it-yourself. Make sure you get the right guy, because it must be a mutual company. It's got to be 100 years old, it's got to have paid a dividend for over 100 years, and we want to make sure it's a mutual company because when they declare a dividend, they got no stockholders. So the the dividend doesn't go to stockholders, it goes to policy owners. Oh, that's me. So all those dividends come into those policies without sales charges, without anything and without any cost. And then it turns around and it's once it's in there. Dividends are not guaranteed, although the companies that we use are well over a hundred years of paying them consecutively. I mean, I'll show you companies that can't do it, for two let alone, 117 and 124 are my two favorite companies. So when they pay that dividend it goes into your cash value. From that point on, it's guaranteed just like every other dollar in there, guaranteed to grow more. It's guaranteed accessible. It's guaranteed tax exempt. I mean everything it's telling you, it's yeehaw.
Speaker 2:Well when, when you said tax tax-free, tax exempt, I mean I, they're not the same.
Speaker 3:They're not the same thing, yeah Right, so why do? Why do you get a? Why do you get a 10 99 on your Roth IRA? I thought they were tax-free?
Speaker 2:They're not. And when you think you can just liquidate because some idiot tells you hey, liquidate, it's not, that Uncle Sam's not really going to penalize you. Oh, they sock you forward and backwards when you you look so let's cover.
Speaker 3:let's cover the other side of that too. Not only is he going to sock you before you're 59 and a half. Think about this when, when I know I'm I was so jacked to buy my first car Right, so I wasn't. What was it?
Speaker 2:Who wasn't? I mean, everybody is freedom man.
Speaker 3:Well, so I'm going think about it. I'm going to go buy a car. I'm going to put money into an asset which is a horrible asset because it's going to depreciate. But the bottom line is, I wanted a car, okay, and yes, I bought the car. Now am I going to wait till I'm 59 and a half to drive the car? You already figured it out, but that's what we do. 90% of America saves money in a place that we can't get to till 59 and a half. The other side of that is at 72. If you don't take enough money out, they're going to penalize you. They start, they start penalizing you. And it's 50, not 10 high, just in case you really thought that was your money. So here's the bottom line that any qualified account 401 403, ira, 457 520 I don't care what the it's alphabet soup, all right, those are all gifts from the government and wall street. Okay, it is a multi billion dollar industry totally supported from your account balance for long term though.
Speaker 2:Think about it, man, a 529, you're best, you. You make either a lump sum, like a lot of people, because they're like, oh, that's way cheaper If you just throw down a lot of money, you know, and the kid's just born. Or you know, you, you go month to month, but that that's still like an 18, 19 year horizon till you you can, 19-year horizon until you can. And then there's penalties because there's stipulations, because how about if the kid wants to go out of state? How about if there's all these different? They find loopholes any way they can to sock you if you don't follow each and every step.
Speaker 3:And then you know so I used to teach how to go to college and not break your parents. I haven't done much of that since COVID broke out, but but. But the truth is I could put a lump sum into one policy one time. Let's say I put a hundred thousand dollars in there in 30 days I can pull out 95. That's enough. Do you need that for your education? Okay, but now Junior's going to pay back the loan not to Sally Mae, but to Papa.
Speaker 2:Well, I think they'd rather pay to Papa than you know. 40 years, you know, by the time these kids are paying off their student loans, they're going to look like frigging George Burns.
Speaker 3:Well, the crazy part is and I used to have these stats off the top of my head there are people with their Social Security checks being garnished because of student loan debt being garnished because of student loan debt like that, because people it's always like, because because it's that, like I said, academic it's such a business from every aspect of it and they can't lose, so that's why the cost goes up every year because you're gonna laugh.
Speaker 2:Because, doug, how many school, how many people like corporations? Because you know they. They always tell you well, this school is better than that because it's more expensive. In the real world, nobody's ever said, oh shit, you, you went to lsu or you know, you got your master's degree at um. Oh, we're gonna hire you over no man, the in in life, just just like, just like your, your way. When you show up and you do the work, you're gonna get rewarded. We're gonna coach you.
Speaker 2:We're gonna coach you how to do this job exactly anyway because, if not, you're gonna be like that, that barista that you're that has a degree from Harvard, and you're like, wow, why, why did? Why is that person working at Starbucks and not, you know, a multimillionaire? Cause there's plenty of those out there, yep.
Speaker 3:So before we get out, before we get out of the, the qualified retirement accounts, I do want you, because I always had a buddy at Argonautics. There's no guarantees in the markets, right? Oh never. I said well, you're wrong. 401s come with three guarantees. He says you're kidding. I said no, number one government gets theirs.
Speaker 3:Number two, your advisor gets his or hers well, that's a certainty on both of those correct guarantee third one, and this is the one that makes a difference you pay both of those from your account balance. So you book and you've got a million dollars in your IRA or 401k. How much of it is yours? And the truth is you're going to take about a 30% hit minimum.
Speaker 2:Well, there's always a haircut man for Uncle Sam. He's there hiding behind the wall getting ready to stick his hand out or put his hand in your pocket.
Speaker 3:So takes you no money to get money out of your policy. I mean it's literally 1-800-SEND-ME-SOME-MONEY. In fact, now it's computerized, you just click an icon and once you get, they are slow to begin with because they got to make sure all the monies match or all the account numbers, because there's so much money laundering and foolishness going on. I want them to protect us and they do a good job of that. But once you borrow money and repay it, and borrow money and repay it and borrow money, we pay, then I mean it gets. It gets literally within seven to ten days. So that fast, that fast, yep.
Speaker 3:So here's a crazy part, and and this was this was an exact, uh, actual client of mine, um, he had bailed out of corporate america. Um moved to the rural country of pennsylvania, had four hundred thousand dollars he wanted to put into a single premium policy. Okay, so he's gonna put 400 and never put another dime in. But he had already selected an eight unit complex that he wanted to buy. The guy wanted to sell it to him. It was already rented.
Speaker 3:So the the guy I mean the guy's probably 50 years old flies through underwriting, which is a miracle, all right, and he turns around and that 400, he had $369,000 available. Well, he only needed like 277 to buy this guy out of his well, shucks. He bought him out immediately but was still cash flowing. The eight people that were already there renting. And within 60 days he had taken a loan, bought the product and was reinvesting money back in because it was cash flowing. Those eight units. Bang, bang, bang, bang, bang. I'm going, man, this has never happened before in my life because it can get. It can get drawn out, you know.
Speaker 2:So it's a, it's a, it's amazing so well, duck, how, how little or how much money would one need to learn all this from the Peacock wealth group? What do you want your money to do? Why doesn't everybody want it to grow?
Speaker 3:Sure, it's going to be, I'm, we're going to guarantee it's growth. But now then, how much does it grow? Well, that depends on how much money you put in right.
Speaker 2:What's a good starting point? 10 K.
Speaker 3:I tried to tell people around 500 bucks a month. 500 bucks a month, if you will. If you will go 500, 6,000 a year, okay, you will see a difference. You're going to see a visible difference in how it works. My very first policy was 800 bucks a month on two teacher salary. We were paying a lot of money into a life insurance policy that I wasn't even sure was going to work. But I knew that if it worked I had something. But if it didn't work, it wasn't enough to sink me, you know, for the next 25 years. Well, once it, once it worked, you know, and my wife gets a nice Chrysler 300 out of the deal, then off we go and it and it just snowballed for me.
Speaker 3:Omar, um, I mean, I, I, you know. Look, if you, if you want to argue, I'm not your guy, I'm not your guy, I'm not your guy. If you can get over that, it is, it is whole life insurance. I, I'm not your guy, I'm not going to argue with you. You know, if you listen to Dave every day and he, you know, it's the worst place to put your money. Yes, it is If it's an investment, but it's not an investment I'm using it as a storehouse.
Speaker 2:That's the key, doug, uh. Dave ramsey is for the person that's like literally clueless, like in the sense that he literally has to tell people you know, don't buy the 80 pizza every week. Well, you know that that's what I, because some people need, some people need that the sky is blue, and tell them that, so that that's what that? That that's for the person that that's not really going to invest in. Even if someone was given that person insider trading tips, like if Nancy Pelosi herself was going to share her picks with his audience, they wouldn't invest, and that's what I would say. That's why he has his own lane. And the person that loves Dave Ramsey he's not going to listen to my show. He's not going to listen, he's not going to be a fan of yours and that's, and that's the I mean.
Speaker 3:last time I spoke to a group, I was introduced as the guy that your banker and advisor doesn't want you to meet.
Speaker 2:Well, yeah, because I mean you're, you're telling that's true, that's true Literally. I mean you're saying someone can change their life. Oh, these dollar costs averaging $500 a month. So imagine what $1,000, $1,500 a month investment and everybody, $500 to $1,000 is doable because doable? Because I mean so many people piss money off on stupid shit that they just cut back a little so.
Speaker 3:So let me tell you, I've got, I've got single moms, um, doing less than that. Now why would I do that when I know it's not going to work as well? Well, because she is a single mom and if the washing machine breaks down, she's got to buy another washer, get it fixed. If she can't borrow money from her policy to get that done, then she's going to wind up on a in a visa rabbit hole or MasterCard rabbit hole, but she'll never get out of it. It's not good in her life as well as the child. So now let's give her hope that, regardless of what happens, there's some money there to get to.
Speaker 2:Well, think about it this way, doug. That just shows you how much you're in service, because do you think I can just go to Goldman Sachs and say I want to learn how to invest, or can you invest my money? I've got maybe $5,000, $10,000. I don't think. I think they would kick. I couldn't even get past security, right right there you're not their client exactly.
Speaker 2:So you're not that way. You want to help you. You saw where you were because you know you're not merrill. You know you're not merrill lynch, you're not somebody saying how much money do you have? Do you have liquid a million? Oh no, well, hey, go somewhere else. You just said it best. If you could help single mothers out there, single parents, do that, then that shows you that you're not in it.
Speaker 3:I used to take a load of kids home every night from football practice in the back of my truck, because nobody had a vehicle to come and get them, because dad was working late or whatever. Exactly that's the people I want to go help, because, man, if I change their life, how many people do they tell Everybody? Now let's flip that whole thing. So let's go to the other end Because, also, he is not my client, but I was made aware of him because of the situation. He puts 1.2 mil a month into a policy Not bad. Right Now it was a 10-pay, so it's a limited-pay policy. That's special, don't worry about any of that. But the bottom line is he's putting in $14.4 million every year for 10 years. So run that out, it's going to be $144 million over a 10-year period, with growth probably close to $150,000, $155,000. It doesn't really matter.
Speaker 3:And they were blowing in grief. Why would you ever go buy life insurance? Well, because from age 65 to 90, it's going to pay me $10 million a year, tax exempt, for those years of my life. Wow, bought a $10 million pension on himself. Now, the only reason I know that is because the premium was too much for one insurance company to take the risk, because if he walked out the door and got hit the first day by a bus, it was going to cost him $565 million, and they didn't want to do that alone, I'm sure. So it took five companies to get it done, but it got done.
Speaker 2:Doug, I can talk to you for hours and hours because I love your passion when it comes to making money. So there's one last question and I'll give you just a scenario. It's not me. I'm in my 50s. Oh my gosh. I just feel, doug, I'm in my late 40s man, I'm upside down I mean 60s just around the corner. Help me out, man. I don't know what to do. I don't know how I'm going to ever be able to retire, because I don't want to be a greeter at Target at 80. Right, can you help me out?
Speaker 3:Absolutely. We're going to sit down and figure out where, like you already said, we're going to figure out where every dollar is going. I will tell you. You know, we're going to give every dollar a name and you're not going to like some of them Because you know I we're eventually going to work for a number and we work off of a 10, 30, 60 plan. Okay, now, I'm a man of faith, so my 10% is the tithe to my church. Okay, you want to do that? That's your business or whatever. I'm not going to do that to you. But that 30% is my savings. That's what goes into my storehouse. Okay, 60% is what I live off of, and I do it not only for my family, I also do it for my business. It's 10, 30, 60 for my business too. So, yes, my business owns policies also. Yes, Doug.
Speaker 2:Now, how do we find you? How do we find the Peacock Wealth Group? So we can learn more, so we can start DCAing, whether it's 500, whether it's 1,000? And if you had that problem $500,000 a month or $300,000 a month to invest how do they find you? That was not so much to invest. How do they find you?
Speaker 3:Well, easiest easiest way is peacockwealthgroupcom. It's all one word no spaces, no, not just peacock wealth group. That'll take you to the website. Um, you can see all kinds of things that we do there. It's not. I mean, I've I've really kind of stayed in a lane of where we're at and getting people started and getting people out of student loan debt and stuff like that, because that was my first love. You know, when I, when I got my players out of student loan debt, it was huge for everybody, right Cause now they don't have that. Well, I mean, what if you didn't have to pay Sally May ever again, have to pay Sally Mae ever again? And you know so. And so it became very, very addicting, you know to, to do that for people. But the bottom line is they they all didn't start at 500 a month.
Speaker 2:You know. But you said that's a good starting point, so let's.
Speaker 3:Great starting point. Great starting point.
Speaker 2:And most people, most professional people, if they cut back on the Starbucks or we all have foolish spending. 500 is easily attainable, I think Correct.
Speaker 3:Correct and I got to say this carefully, but the bottom line is $500 a month is not that amount of money A lot of money? It might be to a single mom I got that a lot of money. It might be to a single mom. I got that. It might be because of your situation that it's that it is a lot of money, then, then that's not going to fit you All right. The bottom line is I want you to live life like you didn't think you could live, and it's because you're going to own the banking services and the banking function of your life. And that's what I'm going to teach you how to do.
Speaker 2:Doug Peacock the man, the myth, the legend, always living in service. Brother, thank you for the hour, absolutely, and I've got your email. So definitely, man, I can see myself doing the 1,000 a month, yeah, so for sure.
Speaker 3:So drop me an email and and uh birth date and I'll show you what. I'll show you what it looks like. I'll show you some numbers.
Speaker 2:Perfect, alrighty brother, I'll. I'll actually do that in the morning, uh, cause I'm not. I'm not a procrastinator. Thank you for your time, man, and thank you for being in service, and thank you. My mom was a single parent, so thank you for doing that for all of them, absolutely.
Speaker 3:Absolutely have an amazing night with your family. Thank you very much, Uh-huh bud.
Speaker 1:Thank you living inside of your purpose. What if it did work? Right now you can make the choice to never listen to that negative voice no more. The hardest prison to escape is our own mind. I was trapped inside that prison all for a long time. To make it happen, you gotta take action. Just imagine what if it did work. D-word.