Business Innovators Radio - Interview with Chuck DeLadurantey Discussing Becoming Your Own Banker

Episode Date: February 13, 2025

Mr. DeLadurantey has provided consulting services to several verticals, including manufacturing, healthcare, and supply chain firms. In 2019, he became a. His mission is to help individuals and businesses understand the options for wealth building, retirement pension systems, and private financing available through uniquely designed products with an underlying life insurance and annuities base. Chuck and Michelle, his wife of 50 years, live on his ranch in Luling, Texas, where they raise beef cattle and enjoy hosting fun family events for their children and 26 grandchildren.Learn more: http://www.privatefamilybanking.com/chuck-deladuranteyAll content is for education, discussion, and illustrative purposes only and should not be construed as professional financial advice or recommendation. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of the information on this channel. Neither host nor guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered.Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-chuck-deladurantey-discussing-becoming-your-own-banker

Welcome to influential entrepreneurs, bringing you interviews with elite business leaders and experts, sharing tips and strategies for elevating your business to the next level. Here's your host, Mike Saunders. Hello and welcome to this episode of Influential Entrepreneurs. This is Mike Saunders, the authority positioning coach. Today we have with this Chuck Della Durante, who will be joining us talking about a unique concept about becoming your own banker. and taking control of your financial future. Chuck, welcome to the program. Thank you, Mike. Glad to be here. Hey, so before we dive into this, give us a little bit of your background and story,

and how did you get into the financial services industry? Yeah, so I got into this financial service industry some years ago, but I did turn my focus to this idea of becoming your own banker until about five years ago. And the first thing I did is I re, rethought through my personal financial history. I was in my 60s thinking now, you know, how are things going to look? And I thought, wait a minute, I remember that thing about becoming your own banker that I really didn't do. Maybe I should revisit that. So I started revisiting that.

And lo and behold, I said, wow, I really should have done this some years ago, but let's get started now. So I got into the idea of becoming your own banker, taking. over the financial function or the banking function in your life in my mid-60s. So that's, that's sort of how I wound up here. But I had been interested in life insurance and newties, those kind of things that people use for a long time. Kind of reminds me of the old example, you know, hey, it's a hot day. I sure wish I had a tree to shade me from the sun, but there's no tree here. Well, you should have planted the tree 30 years ago, but when's the next best time to have planted it, at least now, once you become aware of it.

I just did that, an email out to my clients and some of my prospects about that very thing is, you know, what's the best state of planet tree as well. If you didn't do it before and now it would be a great time. So it's really kind of never too late. I mean, there are other things. If you're, you know, north of 70, maybe there's some other things you could look at. But taking over the banking function and getting control of your money is important for everybody. Yeah. And I think while it is true, it's never too late.

the earlier you can begin any type of a retirement planning type strategy, it just gives you more runway for things to kind of build up. So let's talk about the concept of what you're saying, becoming your own banker. First of all, define it. What does it really mean to become your own banker? Yes. Well, great, Mike.

So we call our system private family banking, and it's really a system of thought. And it's about what if every dollar or most dollars that are going to, going to flow through your life, and the younger you are, you know, the more head room you have for money to come in over a lifetime, Lord willing. But what if you could find a way to channel that money, basically to flow that money with one additional step that will enable you to make money on the money you're already going to have flowing into your life and get creative about how maybe you can duplicate that money by it through investing it or buying real estate or doing other things,

maybe even Bitcoin or silver and gold, whatever you might want to do, but to guarantee that the money that actually is going to come through your life in the forms of all kinds of income will actually earn money for you, tax deferred and ultimately tax free to your heirs or your beneficiaries. That's the big idea is how to capture the value or the opportunity cost of that money that the banks currently get, the mainstream banking system. Whereas we teach you how to set that banking system up that work. for you. Well, and I guess if you think about it, you know, there's a lot of places you could put your money,

you know, in air quote, the bank. It doesn't have to be in your bank down the road with a CD. It could be in the markets or different places. But when you get a specific interest rate return, the bank or the banking institution, they're getting more. So you're saying that there's a way to capture a little bit more than what the, what you typically would be paid. And now you're becoming your own banker and you have a little bit more control of those funds. Yeah, with our private family banking system, you're actually getting about 40 times more what the bank's going to give you on a checking account. I mean, it's an exorbitant reality, but it is true that you really get nothing that the banks hold your money. The banks take title to your money. You're actually loaning your

money to a bank. You can check the fine print on Bank of America or any large, large six banks. when you make a deposit, you get a demand deposit receipt, but really you've now lent your money to the bank and they're going to lend it out to other people. With your private bank, you own the title to that money and you get access to it 24-7 with the system we set up with you. And then you get to decide what you're going to do with the money. All the meantime, you're earning tax-free gains and dividends on that money for the rest of your life. So that's a huge step forward and it really involves just one step or flowing your money into this. Again, our brand name is private family banking, but it's a tried and true concept. I've been around for years, but it's not mainstream.

And most people just automatically think, well, I just have to have a checking account. That's the way I store my money. But we teach you how to store it in a much better way. And you mentioned a couple words that made me think of going a little bit deeper. You said the word guarantee. And I know in life and business, there's not many guarantees. But talk a little bit about the guarantee, like when the money goes into the money, this account that you control, can you lose it all? Or is there some guarantees that at least the

principal is protected? That's great. So the system we use is based on a very uniquely designed i-cash value whole life insurance policy that pays dividends. And we write it with only mutual insurance companies. And that may sound odd to say, well, what's that a banking system, but it acts like a banking system and the and asset part of it is, if you will, that you get life insurance companies have to have a larger reserve requirement to pay death benefits by law and a reserve requirement to have your cash value, net cash value, available in this instrument. It's the only legal instrument that you can really get guaranteed return and a dividend and be able to access your money and leverage.

collateralized loans. That's a technical term, but basically you're borrowing against your own money, whereas in a bank, you're going to pay all kinds of fees and you're going to have to pay interest. And you'd become the banker. You determine how fast you pay your loans back. You determine where and how you use your money. And the guarantee, in my view, is even stronger than an FDIC because FDIC, frankly, is not doing too well these days and they're not well, capitalized. Whereas a life insurance company, especially mutual life, they have to be very highly capitalized. by law. And so you have that hacking. And these companies have been around over 100 years. You know, and that's a big thing because I think a lot of times people like, oh, well, I hear this newfangled idea of whatever and I'm not going to take a risk. Well, this has been around for 100 years plus.

Secondly, another thing that you mentioned is when you're talking about you being the one in control, that sure takes a lot of the risk out of the equation. And then you mentioned about being able to re-access the money that is, you know, the cash value being built up. So it's your money's not locked up in some account like qualified funds where now you got to pay taxes when you take it out or or pay a penalty because you took it out too soon. So talk a little bit about that freedom and flexibility aspect because, you know, when you think about like, oh, I need to go buy a car. Let me go get a car loan.

You've got to have credit check run, loan qualification, debt to income ratio. but if you've got cash built up into this vehicle, you know, and pun intended, you know, but this financial vehicle, you don't need to go qualify. You just go access your money and there it is. Yeah, I mean, that's a lot of my clients. It's almost, they almost can't believe it. They get out there and they get their money in there and they take that first loan like buy that car or whatever.

And they go like, I just went in and clicked a button and I got $30,000 into my checking account. I showed up at the dealership like a cash buyer. So I had all the leverage of being a cash buyer, but none of the consequences. So there's three ideas here. If you're got a cash buyer, you're always saving up for that next largest purchase. And a lot of people have been trained, oh, stay out of debt. Well, this is collateralized borrowing.

This is money you already have. It's not going into debt at a bank. So it's a big difference. And then the second idea is people are borrowers. They do go out and borrow, make car loans, credit union loans, bank loans, or dealership loans, and buy that car and pay all the interest to the end of the, the entity they borrowed the money from instance of times that may be appropriate if you have an attractive alternative you know the question in economics is compared to what and that that's the thinking

your money you'd get to decide what things you're going to do with your money whether it's taking over debt buying high ticket items with it or investing with it or whatever the third idea is who wants to become their own banker that's what we're talking about where you get all of those choices you get all the benefits and you're in charge of the payback schedule you're in charge of the payback and how much line you want to let out to maybe use that money to do other things rather than be on somebody else's schedule. And all the interest goes away from you. We're in our system.

Some of that interest comes back. And the highest interest rate you're going to pay by contract right now is only 8%. And interest rates are ranging between 5 and 7. So you can never pay more than 8% for your money, which is a great thing for the rest of your life. Yeah. That is a big point. And I think that sometimes when people here, you know, become your banker and borrow against this, you know, a type of a investment tool, what are some of the things you can use that for? So you could finance a business if you wanted to start a business.

We've already mentioned cars. How about this one? This is a big retirement killer. You got kids heading to college. College costs a buck or two, right? Yeah, yeah. Yeah. Instead of doing the 529 plan and hiring, tying your money up in a government plan, do it.

do it yourself and use your banking policy to do that. Absolutely. We have a lot of clients doing that. And again, because it's a life insurance product, you're getting also a death benefit. So you have legacy wealth on day one. You have a death benefit. So if you, God forbid, happen to die in a year or two or five or ten, you're still going to pass along tax-free wealth to your beneficiaries and your wife, your children or grandchildren. We have people in our system that are buying four, five, six, seven different policies on themselves or other people that they have an insurable interest in so that they create this platform of a family bank. That's why we like to use the term private family bank where they're doing family projects

and maybe helping their kids and grandkids out. So Elsa has a great legacy aspect. You know, I think when you hear there's one, you know, kind of like a hybrid 360-degree approach that handles growth as well as legacy. and planning, that's kind of unique. And what you just said there, I feel is like the ultimate gift that a person can give to their family leaving behind, yes, legacy, but tax-free. And we don't need to get into the weeds of taxes and things like that.

But I do realize that there are some people that when a parent passes away and they inherit some types of funds, that comes with a large tax bill. So if you're able to structure this to be tax-free transfer, that's a wonderful benefit and actually a really big gift that you're giving to your family. Well, you know, it's sad some of the stories that you do here. We lived in a rural community some years ago. And this elderly woman, she was in her 90s, had a very prosperous business. But she had no backup plan for how to pay the estate tax. and she got slammed as she died and left this to her kids.

They had to wind up selling the business after, you know, 50, 60 years in one community being in business just had to basically sell it to pay the tax bill. And so we work with clients that could be in that position. Not all of our clients are super wealthy. And of course, the estate tax ceiling is relatively high. But we'll talk about that another time. But estate tax planning for the high net worth people is a very important thing. You know, and I know that when anyone hears the word life insurance, they immediately think, I'm good, I'm good, I'm good, I don't talk to me about that.

But this is a very specific type of life insurance that does these types of things you're talking about. And it's not something you can go Google, set it up, check, check, check, done. It's very, very intricate and it has to be properly structured. The question that I've got is regarding the benefits, because typically people hear life insurance, which means when you die, money goes to, to whoever your beneficiaries are. But these type of strategies have living benefits that we've been talking about, like borrowing to do certain things. What are some of the other living benefits that are associated with this type of thing,

aside from, you know, the opportunity to borrow? Yeah, well, that's a great question because I love the fact that in our policies, every one of our banking, private family banking designed for private family banking, high cash value whole life policies. We include a rider that enables them to access the living benefits, meaning they can access their death benefit ahead of death for nursing home costs. So it basically has the likes of a long-term care, LTC policy embedded in there at no additional cost. It has the access to it for certain specified illnesses that may happen to you. Or if you get diagnosed with a terminal illness, all of those, of course, required.

a doctor's order. But if you're sitting there needing to pay a nursing home bill and you could access tax-free a large portion of the death benefit, that for some people is a difference between the family having that all taken care of it or somebody digging into their own pocket to pay for an elderly parent at a time when it's just not convenient or maybe they can't even do it. So once this is set up. Because those are high ticket cost too. This is not some. They are. They can be. Yeah. We had a gentleman in our neighborhood here where I am now, still living rural, who was basically land rich. He had no cash.

He had all this land, and he had to be put in a nursing home. So they had to sell some of the land to pay the nursing home bill. It was that exorbitant. And it wasn't a fancy place, but it was pretty steep. He didn't have any money to pay the own bill, even though he had millions of dollars in land. So that planning for the future is so important. Well, you know, the need for long-term care, and we don't need to diggy, I've been deep there, but I've heard statistics that are upwards of 60 or 70% of us at some

point will need some type of long-term care. And we've already established the fact that it can be very pricey. And I know that there are some types of long-term care policies you can get that tend to be on the high side. Is this the case? I've heard this before. If you have those types of long-term care policies and you pay into them for a year, two, three years, and you didn't use it, those premiums are gone versus what you.

you're talking about here with a writer. If you need it, it's there. But if you don't need it, all that cash value is just accumulating just like normal. So there's no loss of premium like it would be in those standalone policies. Absolutely. Absolutely. That's so key. And when you do dollar for dollar comparison, what a value.

It's tremendous. Yeah. So you mentioned the person with the land. Can you think of another example of someone that, you know, implemented this strategy in their retirement needs? Yeah, I think, again, I've got people that are a little approaching retirement. And so they want to make sure that they have two things, that they have some what would be known as liquidity, meaning they don't just want to tie up their money in something like a CD and then always be having to renew the CD.

And they're not sure what the rates are. Here, you're getting a contract where you know what you're going to get. And these companies have paid dividends for over 100 years, some up to 120 years. So they're very stable companies that are writing these plans with us, with the customer, the client. And so they have this security that they don't have to keep watching the market or keep their eye on the stock market every day and that that money is available and that they'll never go backwards and they'll get the power of compound interest, continuous compound interest is an amazing thing. You know, if you take a penny a day and double it over 31 days, you would wind up with five or five million dollars.

That's just the idea of compound interest. Now, we're not talking about doubling money here, but we're talking about continuously compounding interest over for some people. It could be 20 years, some people less, some people way farther. If they're 20, 25 years old, you can do this, set up this bank and then grow it and grow the bank, maybe do another policy later on. And so there's just lots of. a creativity that can happen.

You know, you brought up something that's super important, which you didn't say this, but it made me think of peace of mind. If you've got traditional savings methods like the old 401K or IRAs, you hear the horror stories of people with the 401k that they have a 201K if the market crashes. So that punch in the gut, you know, like, oh, my word, my retirement account that was this big healthy 401K is now took a big hit because the markets did. with this kind of approach, that peace of mind is almost priceless. Absolutely.

Well, you know, just the numbers are real. So if you took a 40% hit on your 401K, which many did during the 08 crash and during the COVID crash, it takes 67% gains to get back to where you were. And so that would mean you'd have to have a series of years of, you know, double digit increases in your stock portfolio or your mutual fund or whatever without any. losses to get back to where you were. And some people that are listening may have experienced that. And it's a daunting thing. And then after so many years of biting, you know, holding on, you may just get back to where you were, which is tragic, especially the later in life you are.

Yeah. Yeah. So I know that we've mentioned that this concept has been around for over 100 years. I've heard rumor that Walt Disney used his, you know, whole life policy, permanent policy, to fund Disney, you know, but this is not a new concept, but still, for someone hearing it for the first time, there could be that little element of fear creeping in. So what do you say to someone that might go, yeah, but I just, I want to stick with what I know and it just seems too good to be true. You know, what do you say to those people? And we do a couple of things. One, we have a platform

of educational materials. We have clients that we're willing to talk to prospects that are interested but are real people, not me, so that you feel like you're getting more an objective feedback from a real client that's doing this and doing it in different ways at different ages and stages of life, whether it be having children still at home or grown children. So we open up the book to you, we're both educational and experiential research. We don't expect somebody just to take a leap of faith. And so, and there's many, many materials out there. And I think lots of cases and case studies that we can share. Yeah, that's awesome. So if someone is finding this interesting, what are the first steps they should take if they want to look at becoming their own banker? Yeah, well, they can get a hold of me.

The easiest way is to send me an email. I go by Chuck, C-H-U-C-K at private family banking.com. and then send me an email with your contact. I'll get a hold of you, and then we'll schedule a free discovery call. All of my calls basically are free. We provide coaching for you once you become a client at no extra charge on how to manage the system and leverage it. But anyway, just an email to me would be great at Chuck at privatefamily banking.com. Excellent. Well, Chuck, thank you so much for coming on today. It's been a real pleasure chatting with you. Appreciate it, Mike. Thank you. You've been listening to Influential Entrepreneurs with Mike Saunders.

To learn more about the resources mentioned on today's show or listen to past episodes, visit www. www. influential entrepreneursradio.com.