116. Infinite Banking Concept Quebec Canada

You are listening to the Wealth Without Bay street podcast, a Canadian guide to building dependable wealth. Join your hosts, Richard Canfield and Jason Lowe, as they unlock the secrets to creating financial peace of mind in an uncertain world. Discover the strategies and mindsets to a financial future that you can bank on.

Process of becoming your own banker. The infinite banking concept in Quebec. Finally, and we're blessed beyond the definition of good fortune to be joined by Joseph Salum, our dear friend, brother, teammate. We can officially say that for anybody in Quebec who's listening. And so it's a real honor to be joined here today with Joseph because as an authorized infinite banking practitioner in the province of Quebec and building the platform to share the message with all of the families and entrepreneurs and established business owners in that province, the, the emphasis, the focus that we have now, working officially together as teammates, is going to absolutely transform the lives of an incalculable number of people in that province. And so, Joseph, welcome to your first of many appearances on wealth without Bay Street.

Bonjour.

Yeah, hello to everyone. It is my honor to, to be with you. Jason and Richard, you are dear friends, dear brothers, and I am beyond.

Joy to be with you. This has a friend. Quebec is official. We're going to be involved in the infinite banking process and ascended financial are officially, by, since 24th of March, officially in Quebec to serve the Quebecois.

Absolutely, Quebec. And you know, we, we deserve and should be presented with a medal of perseverance because this has taken a long time. However, you know, being supported by great teammates on our headquarters team and all of the great work with the MGA and with Life carriers, everyone who was involved in helping us to get this done and to get it done properly because that was the, that was really the criteria for us together from day one. We said, look, we want to do this the right way so that we only have to do this once and then we can focus on growing and building an amazing team and on sharing Nelson NASA's message and doing it in the way that Nelson intended. And.

I'm just so grateful to be in a position now where we can do that. And so, Joseph, maybe share with our viewers and with our listeners, how, how were you introduced to the process of becoming your own banker? The infinite banking concept? When did that happen and what was that domino effect for you? What, what led you down that path?

Amazingly, it's a good memories actually.

My old mentor, the late Leslie McCann.

He introduced me to a great company one day. The company that we deal with them, I'm sure, company Joseph, come to me. You know, by the way, I want to clarify that my official name is Jose Saloon. I born in Venezuela, so. So the official name is Jose Saloon, but I'm known as Joseph. So everyone called me Joseph. And one day he called me, say, let me show you this company. And it was something new for us. In Quebec.

Late, someone in the office went to the million dollar round table.

Meeting, annual meeting and they came with the idea about a competitor to this.

Wonderful strategy. And I tried to apply with them. I said, because I didn't know anything about this while I'm studying or reading more, I said, look, this is based on becoming your own banker. I remember also Mr. Leslie Senior gave me the book, said I need to read it. So it was in my library. I read it. I will start to read. Honestly, it was Chinese for me. So the brainwash that we got from financial institution blind my eyes. I didn't see the grocery store was Chinese for me. And I said, what is this? What is the grocery store doing in a financial mood? I thought that I'm going to read something about finance. And it's talking about a lady coming and leaning in the back. What is this? So I didn't see it, I didn't see it. And I closed it and I put it aside for two years. Then one day.

On the Internet, while I'm searching, I said, no, no, no, no, this is something real. And in that time it was about only, let's say.

20 videos on YouTube. Whole, the whole thing was about 20 videos, short one from James Nedery, little bit about the old videos from Infinite Banking Institution. So and I said, I will read it again. I start to read it and I start to understand.

And guess what? I called David Stern and it was the beginning of a wonderful journey. I have two wonderful books in my life. It changed my life. The first one is the Bible and I call that this one the financial Bible. This is the truth as we saw, do you remember in Birmingham, this is the truth about finance. It's a small book. It's wonderful book. I read it many times and I'm reading that almost every day and changed my life. I wish that I knew it long time ago. And this is the. When I create the plans for my clients and that's what I get. I wish that I did it long time ago.

We hear that all the time, all the time.

One of my clients says, I wish that I did it 35 years ago. I said, look, 35 years ago it wasn't there.

Well, and you can't say that 35 years from now?

Yes, absolutely.

And so Joseph, you and I were introduced through Richard. And so how did the two of you meet?

Rich?

Similarly, you know, Joseph talks about calling David Stearns and I, I had also reached out to David Stearns because, you know, I'd been receiving the odd inquiry. Every now and again you get an inquiry from someone from the wonderful province of Quebec and simply not being licensed there and not, not even having any earthly idea how to go about becoming licensed there because it is a challenge unless you, you, you live in that province. I simply wasn't able to serve and help anybody. And not being able to serve people who desperately wanted it and are they're taking the right action steps.

Always bothered me because I want to help these individuals. I didn't have a mechanism to do it properly. We didn't have a core authorized individual there who recognized and understood the principles of Nelson's message. So I actually reached out to David and was asking if he'd had any inquiries, if there was someone we could find to support Canadians in that province. And lo and behold, Joseph comes, comes through. So I'm not sure how that transition on his end, but I know I had reached out to David probably a good six months or maybe even a year prior before having that initial introduction with Joseph.

Yes. When I called him, actually he said to me, you need, you need to have a mentor, someone to train you. And I recommend Richard Canfield.

So it was the beginning and actually we have a relation, an indirect relationship through one of the clients. So there is a client, I don't want to mention the name for privacy. He approached me and I discovered that he have, he has a discussion with Richard before and I said, Richard, do you remember this guy said yes, what happened? So he did a plan which is, was badly designed with another advisor and as you said, you know, there is coach that they are leading great teams and there is some people that they only pretend they are coach. So it came that we are now in connection together and voila, we are in the beginning of a great journey. And after that I was honored to, to know you, Jason. And it's, it's wonderful since that time.

Absolutely, I agree with you completely. And where, where this is going to go in Quebec. If we think about Rich, if we reflect on our journey with this process and you know, sharing this message with Canadians and the, the, the progression, how things continue to evolve and emerge and grow and, and the message continued to spread and more and more people became aware of this. Well in the Province of Quebec. Quebecers have access to all the very same tools to, to YouTube, to Google, to, to watch videos and consume content.

To have experienced coaches, people who have been practicing this process in their own lives for the better part of 14 years now is just going to be a way of really compressing those timeframes and really helping more and serving more people. And Joseph is just a consummate professional and so dedicated to, to the, the true integrity, the true essence of the process. Much like anywhere else in Canada, Quebecers can purchase life insurance from tens of thousands of different life licensed advisors out there. But to purchase a life insurance policy is one thing. To implement a process is something altogether different.

And so your what really, what really clarified for me that this was the right direction for us to go because we knew that it was going to be a mountain to climb to be able to do this properly, to get set up, to be operational. There was your character and your integrity or beliefs and your values. And the alignment was a perfect fit.

Like you know, you go into the.

Shoe store and you put on a pair of shoes and you go oh my gosh, these fit perfectly. Like thank you, I'll take them. Don't you want to know how much they cost? No, they fit perfectly. These, these are great, you know, so.

Can we put them on a two and a half year wait list?

Yeah, yeah, the, the, the fellow's like.

Yeah, just come back two and a half years from now and we'll make.

Sure that shoes are custom made, they'll be ready.

But that, that really speaks volumes though to again perseverance because we, we all knew in our hearts that this needed to happen. It was just getting it done properly. And here we are and we're, we're off to a start and now it's time. Time to build it and build it big and to serve as many people as we can.

I want to share with you a story.

The first policy, I did it for myself about $37,000 deposit. We call them deposit because it's a bank. Before I took my courses with Nelson Nash Institute. Guess what was wrongly designed.

I didn't know.

Nobody told you?

Nobody. I didn't have soul even I watched the video. Some people think that if they read the book or they watch some videos they knew how it's going to be designed. I have someone has, he's not my client approached me about. He has about four or five policies wrongly designed and he's calling me said what can I do? But they are wrongly designed and there's it is not the right, it's not the red design. So when I saw that I did something wrong to myself and to my family, I said no, I'm going to take the exams. I. We pass and you know, it's not that small. They are not easy. Some of the. I heard about some of the giants in the infinite banking world. They failed the exam twice.

I'm. I'm telling you.

There is a guy maybe after was nurse. No, I'm not going. He failed the exam twice, just imagine. So I said no. So we have a great future in waiting and we are growing. We have not only me, I have. My son Michael is a financial planner and passing his exams also I have another person, I cannot mention his name now. So we are growing as a team. Ascended Financial is going to be big in Quebec and we are here not to sell life insurance.

That's right.

We are here to serve the Canadian. We are here to serve the Quebecers to be free financially, to have the control of the banking function as their lives.

Absolutely. And for all of our viewers, Joseph, and our listeners, maybe share, you know, with them, what are the, what are the mindsets, you know, of the people that you most love to serve? And so like, for, for, for us, like if you were to talk to Richard, myself or as you know, with our ascendant teammates, you know, people who are coachable, people who have strong values, who are respectful, are kind and who are responsible. If you were to think about the mindsets of the people that you most love to serve, what would those be?

It's a good question. As you said in our meetings, Jason, we are buyers, we are not sellers. That's right, we buy. And last week I said to one client said we are buying. So we, we choose the people that we work with them. We are looking for open mind, kind for me, very important, humble. And they want to be really free and they appreciate what we are doing for them. We need people that we, we are not only giving them our time, we are giving them our lives. And all the training, all the work, all the, the nights, the white nights to get to this point either Jason, Richard and I and my family, we spend thousands of hours of our lives is not only about nnn, nni Nissan National Institute but we have big load on our back. We have a good foundation and we are ethical people. So I want to work with people that they appreciate what we are doing for them. Open minded, coachable and they want to be free. They are ready to learn. Recently an old client, she's A wonderful lady. She said, you know, Joseph, I want to have this infinite banking, but I don't want to read the book. I said to her, Mrs. So and so, you know, I appreciate, you know, you are so dear for us, but I am sorry, I cannot work with anyone. Don't read the book. Not only once, twice. I insist on that because you are the banker. You are going to the banker. So if we don't think our status. So rule number five, rethink your thinking. We need to remove what we learned, we need to unlearn what we learn and learn the right thing. And this is tick. So I will be the coach beside my clients will be. But you are the banker and you are the bank. So you need to think differently. So I'm looking for loyal people, open minded, coachable and humble and loving people. That's really what we are looking for and not reaching. We don't, we don't, we are not looking for rich people, just infinite banking is for everyone.

Amen to that.

Nelson said you didn't need to be rich to get into the banking business. And he wasn't talking about me because my first name is Richard. But one thing that I love what you said, Joseph, is that you talked about your own journey and your, your former mentor. And he, he gave you a copy of the book and you started reading. You didn't read it right away, you pulled it off the shelf, you started reading it and it didn't make sense. There was pieces in there because of the old paradigm of financial training and the years and years and years of going down this financial training path. And now there's this new information, it's always been there, but it doesn't intersect correctly with the old training model of the financial world. And so that learning that you had to bring into your own journey, your own experience, what I think you're saying is you want to make sure that someone's willing to go through that journey themselves.

Absolutely.

I know for me, when I first read the book, you know, and I had a fair amount of actually anger that showed up for me and anger around the fact that no one had told me before that I didn't know this information. I'd spent a whole bunch of money on my financial education, no one had shared it with me. But the reality was I was mostly just staying here because I needed to go get an insurance license. But.

I recognize how going through that experience is what needed to happen for me to really.

Hone in on how important this was of a decision in my life that this decision was bigger than me and I had to make that decision so that I could take Nelson's work and share it with the world in the best way that I knew how. I didn't know how at the time. And the good news is I'm still learning how. I think I'm getting pretty good at it, but I got a lot more learning to do and I hope that I never ever stop. And now I've got great colleagues that I can continue my learning journey with.

That's what makes the dream work is the team absolutely. All day long and Abek is in store for just an amazing opportunity to transform their lives. And we're going to have a wide variety of opportunity for people to consume content. We will have a entirely dedicated French language know content area on all of our platforms and being able to host virtual and live events in the province and to bring the folks of Quebec together to, to learn and to discover just how transformational it is to take control of this function as it relates to your needs. And it's going to be amazing.

Absolutely. As Jason, you know, Michael, my son start to work on the Infinite Banking book translation. So it's going to be translated to French. We are going to have a YouTube channel in French. We have, we had the first webinar in French. We are going to have always in a regular place.

Manner. And as you said, we are going to do live events, big live events. Also in Montreal, entrepreneur business people are waiting. They are losing their money, they are their wealth. Unknowingly, unnecessarily. We need to bring that to them.

Absolutely, absolutely. And you know what will be really amazing about that as well is even for. So with our client portal and all the content and resources that we make available to people, there will be a subscription platform for people who are not policyholders with ascendant who want that. That additional coaching and that additional mentoring and support and they will be able to essentially plug in to that platform to be able to receive that as well. And so, so many, so many great things to come. And if you were to think, Joseph, about your journey now as an authorized practitioner and where you began and where you are today.

What makes you the most proud.

Up to this point in, in your progress as a practitioner? If you think about the clients that you're serving and you know, the, the positive experiences that they're having, what. What brings you the most pride up to this point?

Thank you. Actually.

Always when I'm asked this question.

I remember one of my clients when I presented the in the zoom meeting. We have a zoom meeting. After I collect the information, I present the solution. And this lady is highly educated lady. She, she start to cry non stop.

She I said to her, why misses so and so, why you are crying? I saw the tears like this, why you are crying? She said look, we are new immigrant here. We are not young. And me and my husband, we were discussing that we have no future. Our retirement, we are not ready, we are done. And now when I saw all this, I couldn't believe it. That we have hope and here hope not. I hope the American hope. Hope is confidence and expectation. They have something sure truth, a sure foundation for their financial full control. And guess what? They apply the second rule. Don't afraid to capitalize. They did a big big bank.

And they are extremely happy. We went to eat to get. So I did my, myself. I have five banks now, five big banks. I pay my taxes, my personal taxes through them. I pay my cars, I pay my municipal taxes, I finance everything through my banks. I'm extremely happy and I'm bringing what I brought to my life to my clients.

And as Nelson said, you know, we're. When we describe taking control of this, this function of banking in, in your life and someone or some organization has to perform that function and it should be you. He describes in the book, he says, you know, we're not talking about a bank in the traditional sense of the word where you have to go out and build a bricks and mortar, you know, building and you know, hire people and apply for a bank charter and you know, go through all the, all that. What he's describing is the process and the, the concept that really opens your mind to look the possibilities of how you can implement this in your life are really just limited to the extent of your imagination. And you're already familiar, very familiar with banking. But most people, most Canadians, most Quebecers are entirely unfamiliar with the importance of who should be controlling that function as it relates to their needs. And we were describing it earlier with another guest on the show that far too often people, they transfer that responsibility to someone else because they believe that's the way of the world. Hey, if I want to perform banking in my life, someone else has to do that for me. And that's not the case. And so you can enrich your life, but you can also create a very peaceful, stress free way of life. And so many topics, products related to financial.

Is all about features and benefits, but nobody's talking about what we're talking about, which is creating a very peaceful stress Free way of life. And that this concept, it has, has never been and never will be a financial plan. It's a lifestyle.

And so to hear this story about this prospective client that you met with and became emotional and, and started crying because of that overwhelming sense of hope.

That'S powerful. That's someone who, who caught the message. And there are so many more people who were really hoping for.

A way forward, a way to, to create that peaceful, stress free way of life. And so for anyone who's watching or tuning in from Quebec.

Watch out because hope's coming.

Absolutely. Let me, I want to clarify something here also. As a disclosure, we are in Quebec, we are.

Coach or the affiliate banking concept. But our main.

Designation are financial security advisors. Right. So we take care about the security, financial security of the clients. But our role beside that is coaches me and my team to help the Quebecers in their journey. It is up to the client to decide if they want to do it or not. We don't charge, we don't practice any sales strategy on them. It is their decisions, it's not ours. And when we say creating a bank, you know, in English there is the word bank. Let's say food bank. So there is many kind of banks is where you store your things. Maybe in French is different a little bit. So we are not talking about creating a bank. When I say I have five banks, it's not like traditional banks as you say, chartered banks. No, we are not talking about that. Where we store, we use the whole, a special design dividend paying whole life insurance with a mutual company that to store our, our wealth, our, our income. That's to create a bank in Canada. Jason, you know, maybe I'm, maybe I'm mistaken, but I remember it was I, I need $60 million in cash to be on a side and to wait about 10 years with the government rules and regulation with the big pile of files then to be, get approved. Or I could be hooked to a system. Let me ask you something. When you go to your room, I use this analogy with my clients say you want to do a bank, that's the way. But there is another way. Let me ask you something. When you want power, electricity in your home, what do you do? You have two ways. You build a dam and wire and whatever and you have the wires. Or you hook yourself to a ready system where you become a co owner. And that's what we are doing. We become a co owner in a company over 100 years. Didn't miss a dividend. Solid, solid, strong. And you will be a co owner with many like minded people. Isn't that amazing?

Absolutely. Joseph, you're incredible. We appreciate you so much. And this is your first of many appearances on the wealth without Bay street program. And we're also going to announce as well that we will have a. If you were to, if you were to say wealth without Bay street enfranchise, how would you say that? Bay street, that is the name of the French podcast that will be for all Quebecers and we will record episodes every Friday and those episodes will be shared and it will be a podcast for Quebec.

Wow, that's good news. That's a surprise for me. But we are ready and it's surprising people all week and I say, as you know me. Yes.

Isn't that good? Yes. Amazing. And I will end with this. You know, I always ended with that. Good things will happen.

All day long.

Good things will happen, especially to the Quebecers in Quebec.

Absolute not.

Well, we, we, we're so blessed to have you here with us, Joseph. And, and for having your friendship and for having your knowledge base. And, and I think even more important than that is your desire and willingness to help people and the nature of what you do. It's a, You're a giving person. You give of your time, you give of your goodwill, you give of your humor. And your generosity is really something to behold. And so for those of you, especially in Quebec, who you reach out to, Joseph, to inquire about what this process looks like and to seek his good guidance and good mentorship, you'll be very, very happy that you did. Because when you get to spend a few minutes of time with him and you, you, he basically exudes generosity in everything that he does. And so that's one thing I'm very thankful and grateful for, for you and having you in my life. And the, you know, just blessed that David was able to connect us together to, to form that mentoring relationship. And one thing I will say as well in my early days in getting to know you, your inquisitive nature. So one thing I appreciate in people is natural curiosity. And you know, I would say to my clients, you have to develop a mindset of Curious George, you know, the little monkey that's always getting into trouble, because that's how we really learn things and we learn it quick. And you really did that certainly with me. You peppered me with some of the best questions that I've received from anybody. And you really, you know, coming with your knowledge base from the financial industry already now trying to match this world into the new world and finding where those two things fit together, you really attacked it with a veracity of questions. And that allowed you to learn things in a, in a, in a very short, very quick time to figure out how you could take the old world and the new world and bridge them together to help people understand how this process really works now. So I thank you for that. And, you know, now that I've pumped your tires up enough, I'd like to ask so that we can, you know, help people understand in all the things that you do. Although I've seen you wearing a flag, some sort of like a cape, you may not think of yourself as a superhero when you walk through life, but I think what you're about to do and what you've already been doing for the people of Quebec and the folks in Canada that you've supported, I am very curious for you to share with our listeners today is who you most want to be a hero to.

Thank you so much. First, before I answer that, I am so blessed and honored to have you as a friend and as a coach, as a mentor in, in my life. Without you, I wouldn't be here. I wish that I am skilled like you in English in expressing myself. I speak many languages. That's why I'm limited in my vocabulary. But you are an amazing person, loving always for me, always helping. You have the spirit of help and to care. And you are. You don't give from. You give outside. You give from your heart. But not only that, you are. You have the wisdom and you have. You understand really the process of infinite banking. You digested this book. You know it by heart.

Now. I want to be hero. It's a big word.

Actually.

I feel very humble of all what you said. I am first generation in Canada.

After long journey. So I want for my wife and my children to know that perseverance is a secret. I'm not so smart, but I don't give up. I'm a slow learner, but I put more hours, I put the effort. I want to know what I don't know. I have the will. And I learned this in my life from Jim Rohn. If you want, if you are, if you want to change, you should be willing to change. And I will add, if you want to learn, you should be willing to learn.

Second, if I. I don't want to call myself hero, but I want to call myself servant. I want to serve the Quebecers, the business people, the entrepreneur, that they are low in cash flow, that they have problems, families, they are paying lots of taxes children that they have a wrong financial information.

I want to help them. We are here ascended financial and I we are here to help the people in Quebec. They will be free. They will be. If I can say if we can reduce this. I have a mission and this is when I talk with my beloved wife Mona. Without her I should give her the honor. Without her I wouldn't be here.

Our mission is if we said if we can help families to be 80% less stress financially so they have more time to enjoy life together as a family, to go vacation together and to be Most of the problems in the family are because of financial decisions.

And if we can help them to reduce that we accomplish something not only for money. No, we are not running after that, but just the joy and the family that they will have is going to be something amazing.

So well said and just another sharp example of how great of a teammate you are. And I want to thank you Joseph for being with us today. And our viewers and listeners are now officially introduced to you. And there'll be a lot more to come on wealth with all Bay street enfants. And so stay tuned for that. And for all of our viewers on the YouTubes you will see a playlist that shows up yet again because of our amazing editing team. And so we encourage you to continue your journey of learning. Watch the recommended videos that have appeared on this playlist. We wish you an amazing rest of your week. Gentlemen, thank you both sincerely for making me smile and for making me so proud to be your teammates. I. I appreciate you both more than I can ever articulate. Thank you gentlemen.

Thank you, Jason. Thank you, Richard.

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