A Canadian Corporate Case Study - $100K Policy at Age 45

What's the most important thing on the balance sheet of the business? Well, we get all kinds of comments and ideas on that when we hear it. But the most important thing is very clear. It's you, it's the business owner. How many of those assets that you had that you built up were created because you had access to readily available capital inside of your well designed high cash value insurance contract that you're participating in profits with the insurance company you co own, recognizing just how much of your capital you can extract out of a corporation using this kind of a mechanism and the total power that you have when you're in the driver's seat of your financial life both individually and at the corporate level.

So what would it be like to have an infinite banking plan for your corporation? Now if you're a Canadian controlled private corporation, whether you're a professional corp, you have a holding co or an operating company, this is a common question we get. And so we're going to dig into an example and we're going to walk through a couple different dynamics. We're going to show what some sample plans would look like at a few different ages. We're going to talk about the impact of making deposits, just how important it is to make consistent deposits. And then what do those deposits do for you as you're capitalizing a policy and providing working capital for you to plug back into your business or for additional investments that you're looking at? We're going to talk about creating a passive income stream using this mechanism from the corporation. And we're going to talk about this incredible tool that Canadians have available to them called the capital dividend account, how, how that plays a role for corporations when you're using insurance. And we're going to show an example of that here today. So first thing is to put me on your payroll. What does that mean? Well, $100,000 a year. We're going to be looking at an example today putting $100,000 a year into a corporate plan. Now if you can't do 100,000, no problem, you start where you start. Or you might be looking at that number saying Richard, that's not big enough. I want to put a million dollars in my program. Hey, that's totally cool. Going to show you a hundred thousand dollar plan and we're going to take it from there and we're going to walk through that dynamic and then you can do some of the estimation of your own life based on what kind of a program size makes the most sense for you and for your business. Based on things like your retained earnings, your corporate cash flow, etc. So 100,000 a year, over a 50 week year, you're going to take two weeks off for vacation. That's 2,000 bucks a week. Now if we look at that on an hourly basis, on a 40 hour work week, hey man, that's about 50 bucks an hour. So put the policy on your payroll. Just think about this for a minute. How many employees would you want to have in your business operating your business? They didn't take vacation, you didn't have to pay for group benefits. They work 24, 7, 365 days a year. They never got sick. They don't get Covid, they don't stay at home when the government's rolling out free money. Because allowing them to stay home during COVID none of that stuff happens. So think about that. Put me on your payroll. What if you had a tool or an employee like that in your business that would continue producing the results I'm going to show you today. Keep that in mind. Now, next question is, what's the most important thing on the balance sheet of the business? Well, you know, we get all kinds of comments and ideas on that when we hear it. But the most important thing is very clear. It's you, it's the business owner, it's the person running the business. If something happens to you and you're no longer in the business, you know you died, you're sick, something happens, you can't operate in the business. For a lot of people, that's the end of the business. The business can fail. That impacts all the staff, the employees, all the people that depend on that business, all these associated businesses that you connect and work with in the supply chain. Everyone's impacted if we lose the business owner. And very frequently we find that the business owner doesn't show up on the balance sheet. Well, the way that we do that is we get that business owner insured properly so that they can show up on the balance sheet. Very, very important. So we have to get the business owner added to the balance sheet. The best way to do that is through the mechanism of participating, dividend paying, whole life insurance. And we're going to show you an example of that. We're going to do a visual display in a moment how we can get you on the balance sheet. So let's take a look at this hundred thousand dollar program and we get questions about, well, what if I'm this old or this old and what does that look like for me? Well, here's a 25 year old, we got a 30 year old, 35, 40, 45, 50 and so on. So it doesn't really matter where you are on the timeline. We can be younger than that, older than that. What really matters is how much capital are you working with, whether the assets and the cash flows of the business like, and how can we structure a plan that makes sense for you. So I'm going to walk over that a little bit more. And a question that I want you thinking about though, is there a one size fits all approach? So if we were to look at an example for say the 25 year old versus the 55 year old, we would think, okay, well wouldn't they be kind of the same other than the difference of age? Well, there's a lot more that goes into it because there's family dynamics, there's specifics to your business. You know, it's not like a shoe that you know you can wear and then someone else can wear and everyone fits in the same shoe the same way. A policy, when it's constructed with an authorized practitioner who you're working with as a coach, they're going to custom fit that based on what's going on in your life, in your world. So that's your dynamics again around cash flow and assets, objectives that you have, things that you want to get accomplished, family dynamics. So all of these things play a role in the design of what's that makes the most sense for you. Every policy is kind of like a fingerprint. We design it and tailor it to the needs of the individual. So for today we're just going to look at some examples, but recognize that this can be adjusted and tweaked relative to your needs. And as long as we're making it functional and we can accomplish the objective that we have in place. So let's take a look at some of these different ages and I'm going to show an example of our $100,000 policy. So here you see total premium capacity of 100,000. That's what the business owner is showing up and saying, this is what I want to deploy of capital into my program. And we're going to look at, okay, here's age 30, here's age 35, 40, 45 and 50. I've got five year increments. It's the same hundred thousand dollars going in in our example today we're going to pick one of these ages and we're going to walk through it, but I'm going to show the same 20 years of deposits. Now you can do longer than that. In fact, if you're 30, I would certainly encourage you to do so. If you're 35, I would encourage you to do so. We always want to be planning to continue deposits because if you had access and control to all those deposits you put into a bank account, wouldn't you want to put more money into the bank account? If every time you put 100 grand in, it gave you 120 or 150 or 160? I don't know anyone who'd want to stop putting capital in if you had a machine that did that. And that's the type of machine that we're going to be looking to build. Now the key thing I want you to show here is that the minimum premium in this example at age 30 is about 31. Again that'll be custom designed with a coach that could vary a little bit, give or take. And there's flexible premium of about 69,000 versus down here at age 50. This person is putting in 40 with flexible premium of 60. Now again, there's some wiggle room in there. I've rounded all these numbers off to keep it very simple. The key thing I want to isolate is that between this 20 year gap, there's only about a $9,000 difference in the minimum premium, but it's the same hundred thousand going in. And both of these are going to create cash values that are working capital to work with in the business and for the business owner's needs. Now what do we want to look at? Well, I want to look at what does change is really is the starting death benefit. So there's two main factors when you're looking at age and that's the beginning death benefit and how much time you have. Obviously the 30 year old individual's got more time on planet earth for capital to work for him than the person that's 50. That's the really biggest dynamic, I mean that's how compounding operates is over time. So if you're 50 versus 30, you simply have less years to get that working for you. And so the results will reflect how many years you have left. That's the key takeaway. Now if you look at the death benefit here, the 30 year old for his $100,000, he's getting about $1,875,000 versus the 35 year old 1.6. So there's about a $260,000 difference. But it's the same $100,000 going in now from $35,000 to $40,000. Again a little bit of a difference, about $81,000 over that five year increment. Then we go from 40,000 to 45. The death benefit, you can see is declining here. Same hundred grand going in. We're just getting a smaller amount of starting death benefit for that initial base policy as we build this out. Now when we go from 45 to 50, again, there's about $160,000 difference. So there's not a massive difference from each five year increment. But when we look at them all over the entire time frame from age 30 to age 50, hey, there's about 650 grand of differential there. Same hundred thousand dollar deposits going in. But we have a lower death benefit because we're older and we're much closer to the eventual death. Now that's got to do with actuarial design. We're not going to get into that here today. We have other videos and other content that speak to that. The key takeaway, I want you to understand, is that we're committing the same hundred thousand. That's a decision that the policy owner gets to make working with their coach. We custom design the plan. There will be a minimum required amount and a flexible amount. A lot of good flexibility that we can put in plans these days. And we will have a starting death benefit. Where you start on the track really is just relevant to age. Okay, that's the key takeaway. And so in each of the examples, we're Putting in over 20 years, about 2 million of cumulative deposits. But we're going to focus in on the age 45 example. And that's the example I'm going to run for you today. Now, before we jump into that, I want to talk about the capital dividend account for a minute. Now we're going to expand on this more after we go into our example, but I just want to give you a bit of a preview as to this account. Now, I call it the cash you deserve account because I think that's a funny name. So. But the capital dividend account is one of the greatest tax savings mechanisms over a lifelong period of tax in the Canadian household's life when they're a Canadian controlled private corporation. So the total value of the death benefit, whatever that is, minus something referred to as the ACB or the adjusted cost basis, will create a ledger entry in the capital dividend account. Now I'm going to show you what that looks like when we get to the end of our session here today. Now, in the later years in life when you're expected to be Dead. I mean there's this thing called mortality. We have a life expectancy. And so based on the life expectancies that the insurance company is anticipating, typically 85 plus, you'll be at a position where that adjusted cost basis is basically down to about zero. So the entire full value of the death benefit will basically show up as a ledger entry in the capital dividend account. Now I'm going to explain how much death benefit you'll actually receive and then how this CDA account interacts with that as an extraction tool. This is the key thing I say extraction tool. So this capital dividend account allows us as Canadians, when we have value in this account, that we can now extract this value. If we have assets in the corporation or cash in the corporation, we can extract that as a capital dividend to a shareholder on a tax free basis. Very, very powerful. So you can do that as long as that company exists. And we're going to talk about that as an estate planning mechanism for us. So here I've got some different assets. We've got, let's say a portfolio of real estate. We have another portfolio of a different type of real estate. Maybe it's a multi family building. We've got some cryptocurrency, whatever that is. And let's say we have a stock portfolio. Well, we add all these things together, hey, we've got like $5 million of overall assets. Now imagine somebody dies. Yes, there's a death benefit that's going to be paid. We're going to talk about that more in a moment and we're going to create a capital dividend account value. We're going to be able to start extracting some of these other assets to the remaining shareholders on a tax free basis. An extremely, extremely powerful tool. So let's go ahead and take a look at deposits into a plan like this. And what would that look like? Here we have our tool called the Wealth Access System. So I've got a little slider on the side here that says deposits. I've got deposit years. We're going to have a bunch of charts up here and we're going to start on age 45. Age 45 is the example we're going to run with today. So I'm going to go ahead and you'll notice that as I move this up, you'll see the bars begin to change and adjust. It's dynamically adjusting so the far value here will tweak as we go. And then you can see based on deposits over a number of years how this Adjusts as we go. So our focus is going to be looking at a 20 year model, because that's what I said we were going to do as an example. But before we dive into that, I want to really isolate the impact of these deposits over time. So here on our little bar chart, this very first green bar down here, this is the deposits and it's showing the cumulative deposits. So if we do 100 grand a year and we only do it for seven years, well, five years out, we'll be at 500. And then as we continue on in each five year increment, we hit seven years a long time ago. So we only ever put 700,000 in. So this is reflecting our cumulative amount of deposits that we put into the program. Now, the bar in behind that represents our cash value. What is the asset value of cash inside of this growing pile? What is the cash value of the insurance contract? That is a form of working capital we can put to good use over our lifespan. We can reinvest in the business. We can buy equipment, we can invest in rental real estate, we can buy cryptocurrency, we can invest in a stock portfolio. We can do any number of things that we want to do as a business owner that our brains can think of to help grow our asset base. Okay, now I want to point out something really here at age 100 in this example for what we're looking at, we see about 4.4 million in cash value. And then behind it we have this bright kind of an orange bar. This represents the legacy value or the death benefit. And at age 100 is a very important thing to recognize about the contract. At age 100, the cash value and the death benefit must be the same. They have to be the same because that's the contract with the insurance company. So remember that that's foundational to how this operates. Now here's what I'm going to show you. We're just going to look at the seven year funding period for a moment and then we're going to bring that up to 20 and see what happens as we do that. But I just want to walk through a couple key things. So here we started at 45. Now down here I have values at age 50. Well, we've made five deposits of 100,000. We've put in 500 grand, the cash asset in this particular case. Again, the bigger the policy, the quicker you hit some of these milestones. If it's a smaller policy, you might not be at this break even point that I'm showing here. But in this example we're looking at a cash asset that's about 500 3,000. So we've put 500 grand over a five year period into deposits. We've got a great insurance contract that's growing and working for us and we have a cash value asset of 503. So in essence the insurance is totally free at that point because we have value in the insurance contract greater, equal to or greater than what we've contributed into it. So very, very healthy. And of course we see the tax free legacy there. Now Starting in the 10th year, we're going to highlight to that point. We notice that as I move this out five more years, we've now put seven years of deposits, seven years of deposits which is 700,000 and we have a cash asset of 864. So all that capital is available. We can access 90% of that and use it as a policy loan and begin interacting at any point in time along this path, reinvesting that money into our business. Maybe we're using it to pay our annual tax bill, the CRA or some other thing that we can think of opportunities to. A business owner who's got good capital to throw to work is going to find them, it's going to track them down and they're going to find ways to optimize this capital throughout this time frame. They're not just going to sit on it and let it do nothing. They're going to build it up in the policy, access capital and put it to work in other areas of their life. It's very common to see that in a business owner's life. Now what I want to do is I want to take this and I actually want to scoot it all the way down and I'm going to pick a year here. I'll use age 90. I personally think that people are living much longer these days. We encourage people to think about living a longer lifespan. Here's the end result. We put in 700,000 in deposits, 100 grand for seven years. We have a cash asset now of $3.1 million. The death benefit still a bit higher. And so for example, let's assume that this individual, this business owner passes away. They die at that point. Let's say they've used most of this money. They have an outstanding loan now of $3 million because they've been using this capital for passive income, for buying assets, all kinds of activity. They have an outstanding loan, including interest of $3 million. Well, the death benefit would pay out of 366, it would have to pay off the loan first and then the remaining amount net gets paid tax free to the beneficiaries. And in this case we're talking about a corporate case. The beneficiary is a corporation. So a check gets written by the Life Company for 666,000 to the corporation, which can then be extracted by the remaining shareholders. We'll talk more about that in a moment. Here's the key thing I want to point out is what is the impact of making additional deposits? So if it did this well for us when we only funded seven years, what were to happen if we just put three more years in? So I'm going to go ahead and ratchet this up. So remember, 700 deposits, we're going to add three more years. So we're going to basically take us up to $1 million of deposits. Take a look at the impact on this cash asset. We're at 3.166.

Now. It goes up to 4.6. So we went from 4.6 minus 3.16 is a pretty big increase. I would say that we're looking at, you know, $1.4 million roughly in value. Well, how do we create that value? It happened on the front end because we chose voluntarily as a business owner to put three additional deposits of our cash flow or retained earnings into this machine. So those three deposits, 300 grand, created an additional 1.4 million of cash value of working capital to utilize throughout our lifespan. Obviously, we also increase the death benefit, huge, huge impact here by making that decision. And now you can see on our bar graph, obviously the growth of that capital and the accumulation of it at the different working stages is so much better because we instituted that initial upfront value. And really, even if I look at the 10 year mark here, in fact, we'll bring this back down to 10 years. So we started at 45, we'll look out at 55 again. We've put in a million now in deposits we have 1.18 basically in cash value. Everything we've put in is liquid for us to use. This is a great asset you want to have on the books of the business. That cash value gets reported on the balance sheet. It bolsters the balance sheet for the business and it becomes a great source of capital for many things that you can think of now. So here, just imagine if we kept funding this thing all the way for the rest of life and we funded it all the way out to age 100. Clearly we're going to see a pretty Big spike in all of our values here. And you could look at the cumulative deposits. If we did that every single year from age 45 to 100, hey, we've put in 5.5 million, but we've got 19 million in our bucket. So the impact of deposits is extremely powerful. Recognizing that that's something you as a business owner gets to control. Now, we use round numbers in this example, and if you remember the slides I showed you a few moments ago, I showed a breakdown between a minimum premium amount and a flexible premium amount. And so all that's required is the minimum premium amount. It either has to come from our resources or it comes from the internal resources of the policy. It's just a matter of how you want to interact with it and what stage of life you're at. Because we have good years and we have bad years. So it's helpful to know that A, you have all that flexibility and balance. You can maneuver through the ups and downs and the ebbs and flows of an economic cycle because you're empowered and have control. Now, speaking to this for a moment, during the COVID pandemic, we had many business owners, many clients of ours, who, because of the restrictions placed on their business, having to put a Plexiglas and close their businesses down and send people home from work and retooling everything, they were able to maintain their business. Many, many grew it, but many were able to maintain and prevent the business from shutting down because they had access to liquid capital in a policy and they didn't have to ask permission from any lender to go and access capital to be able to keep their business afloat during that hard economic cycle. Now they're positioned, coming out of COVID to be able to attack life again and rebuild. And as they begin to rebuild, they can refund or replenish that pile of policy loan value so that can be reused again for the next economic cycle. Meanwhile, their cash continued to rise the entire time frame. So we call this the corporate insured retirement Plan. It's also known by a few other names. It's referred as the corporate Preferred Retirement Solution. The end result is we're going to use an insurance contract that we're accumulating value in. We're going to pledge that as collateral. Corporation is going to borrow capital tax free, and then the corporation is going to issue the shareholder or shareholders a taxable dividend. And I'm going to walk you through the mechanics of that here in a moment. But basically, we're redirecting money from our other Resources into a well designed with a coach par whole life insurance contract. We're going to get a whack of benefits, including a death benefit, access to capital, guaranteed cash accumulation, consistent growth, a whole number of features. Now we can access money from the life company or we can access it from a third party collateral bank loan. There's certain reasons in Canada why you may choose one or the other. Our focus primarily is to use the participating life company. There may be a point in the future because of some of the tax rules around this. And again we have other content speaking to this. In fact, episode 100 of our podcast wealth without Bay street, we discussed this very scenario around the taxation of policy loans in the future. And so there may become a point where you need to look at a third party collateral instrument because there could be some great tax savings there. Again, everyone gets to decide the right choice for them. That's not the purpose of this session. We have other content that speaks to that. I just want you to understand that we can access money either direction. It's really a matter of which path you want to go down and how you want to maintain control as a business owner. So here we have our corporate insured retirement plan summary. Now in my example where we have our 45 year old individual, $100,000 a year and they're going to do that for 20 years. Now I indicated in my example here, what I'm going to show you is that they're going to take 26 years of income off this policy starting from age 70 to 95. So that includes age 95, which is why it's 26 years. The corporation is going to take a loan exactly like I just showed you. In this case they're going to use a third party banking instrument so there's no taxation on that loan. They're going to get a bank loan or a basically drawdown off a line of credit, $154,000 a year. Now we're going to capitalize the interest. In this example, we're assuming no repayment has going on on any of that loan instrument and all the interest is just rolling on top of it. Now can you pay it? The answer is yes. Is there a value in doing that? The answer is yes. For the purpose of this example, I just want to keep everything very simple and I'm assuming that no additional money is going back into the policy. We're not putting any more premiums in and we're also not repaying the loans back. So we're going to take $154,000 a year and we're going to do that for 26 years. Now the shareholder is going to take a dividend from the corporation. When you issue a dividend from a corporation, there's a gross up. There's some silly calculations. You have to talk to an accountant about that. It'll depend on where you live, in what jurisdiction, your marginal tax rate, etc. Here we're assuming some pretty high tax rates, 48% marginal rate, where after the gross up and all those associated things, you're going to end up with $100,000 net. After the tax is paid, a corporation paid the premium. Corporation took the loan. Corporation issues a dividend, dividend pays some tax. $100,000 lands in the shareholders bank account to start working with. So 26 years over at 100,000 after all taxes paid is 2.6 million of tax free passive income tax. Your corporation basically is the one who's writing this to you. You sign it as the signing authority. You have passive income totally under your control and you get to decide when to go and do it. Now here's the key thing. Corporation paid for all the premiums. The corporation made the deposits into the policy. This is really powerful. 20 years of 100 grand. In other words, the corporation funded $2 million over a 20 year time frame. The corporation borrowed a bunch of money, 154 a year. You paid some tax when it exited, but the after tax amount was $100,000 and you did it for 26 years. So the corporation paid for it, the shareholder got to spend it. Shareholder got to spend 2.6. The corporation funded 2. That's a pretty good deal. Plus there's more because we also have a death benefit and we're going to talk about that CDA account that I was referencing earlier. So let's expand a little bit more. Let's pick an age where the shareholder is going to die. I'm going to use age basically 96 here at this point. They finished that last draw of income. So excited about everything that we got so excited. We took so much money out of this policy and didn't give too much to the government that we were so excited we died out of excitement. All right, at age 96. So sorry to be grim but hey, we are talking about insurance here. So a tax free death benefit pays out the loan including all the interest. So at this point in time on our 45 year old they've accumulated this they funded for 20 years. They have a death benefit now 96 of 10 million. 200,000. We have an accumulated bank loan including that interest. Remember, I showed that I was capitalizing the interest at 5%. By the way, if you did one of these Today in early 2022, your interest rate on that loan would be far lower. So we're being conservative in our assumptions here. And they're going to have a Bank loan of 8.3 million. So we got to pay that off. The end result is we have a net death benefit. A check gets written to the corporation for $1.9 million. Okay, we call it graduation day. You're no longer here, you've graduated, shareholders gone, the insurance company cuts a check, we get a signature here from the insurance company CEO and there's nothing for the cra. Okay, so now that we've got our check, it's landed in the corporate bank account and we paid off the bank loan, etc. Now we get to start talking about that capital dividend account that I mentioned several times. What are we going to do with that, Richard? How's that going to work for us? Let's dig in. So remember, we looked at some different assets that we might have accumulated over this time frame. Remember, we started at 45, our business was doing well, we were putting away 100 grand a year. We were probably running through quite a lot of cash flows going through the business. And we've been accumulating some assets along that time frame. So let's assume now we're at 96 and we've got some real estate portfolios, we've got some cryptocurrency, and again, just using some random asset classes here, we've got a stock portfolio. We add all this together, we have $5 million. Well, we had a death benefit of 10,200,000. And because we're at a point now at age 95, 96, where we don't have an adjusted cost basis anymore. As I indicated before, once you get to that natural life expectancy age, you know, kind of 85 plus the adjusted cost basis has eroded away. So the entire value of that death benefit is going to show up and there's going to be a ledger entry inside of the corporation's capital dividend account. Now don't worry, your accountant will help you take care of that. But that means we have this value of 10,200,000. We don't actually have that capital because we only got a check for 1.9 million, but we have the ability to extract up to 10,200,000 tax free capital to any remaining shareholders. So the 1.9 million death benefit boom that can be issued now tax free out of the corporate bank account to the remaining shareholders. Often that's the spouse or the kids and we're going to have a whole bunch left after that to start working from. Here's all these other assets we have. What if we start selling some of those off the survivors, you know, spouse, kids, whoever, they start selling off some of these other assets. There might be some capital gains tax and whatever to be paid in the corporate level, but whatever these values that show up in all that capital, now that that lands in the corporate bank account, they can begin extracting all that value tax free out of the corporation up until they hit that limit of the capital dividend account. Now, maybe they won't hit the limit, but that corporation's still alive. If they keep it going and they have other assets, they go and accumulate in there later, they can always access the remaining value of that capital dividend account in the future. Very, very, very, very powerful tool and one of the most powerful things you can do for a Canadian corporation. Now, a couple of questions that might come up. Well, hey, what if we adjusted the income? When we start taking income, we did it at a different age. What if we started earlier and we live longer? What are some different examples? Well, in my example I just showed we did from age 70 to 95. That was 26 years and we did 100,000. Well, what if we started early and we went from age 65 to 95? So, so we went 31 years. Okay, well, obviously we're going for a longer period of time. We won't be able to take 100,000. We're going to be able to take about 73,000 after tax, but we get to do it for a longer period. Well, that adds up to about $2.2 million. Hey, what if we went from age 65 all the way to age 100? Wow, that'd be pretty cool. That's 35 years. Hey, that'd be about a $70,000 give or take passive income for a long period of time. That works out to almost $2.5 million of extracted capital that the corporation funded and paid for, not including the death benefit. That's still on top of this. Well, what if we modified it again? Hey, maybe you started at age 70, but instead of stopping at 95, you actually extended it out and you kept going to age 100. So you went for 30 years. Hey, that would be about a $95,000 annual after tax income. Again, we have a number of assumptions in Here. But the key thing is recognizing that you get to decide the start point and the end point. You get to decide how much you take on an annual basis. You're going to be able to leave a large tax free value behind, including the capital dividend account. You have control on autonomy. The corporation gets to fund it, you get to use it. And there's all the things that we can't see because we don't know what did you do with the money over that time frame? How many of those assets that you had that you built up were created because you had access to readily available capital inside of your well designed high cash value insurance contract that you're participating in profits with the insurance company that you co own. Control, control, control. You know they say in real estate there's three magic words, it's location, location, location. Well, in the business of infinite banking and becoming your own banker, it's control, control, control. So with that in mind, I hope you enjoyed this video. I hope you got a ton of value out of walking through this corporate example of $100,000 funding of a policy. Seeing some flexibility, seeing some dynamics of different age, seeing some income potential that you can have later on at various stages. What if you take it for longer, what if you take it earlier and recognizing just how much of your capital you can extract out of a corporation using this kind of a mechanism and the total power that you have when you're in the driver's seat of your financial life, both individually and at the corporate level. My name is Richard with Ascendant Financial and the Wealth Without Bay Street Podcast. I love Infinite Banking, I love becoming your own banker and I thank my mentor R. Nelson Nash for teaching me these powerful concepts. And I'm glad that you're here watching it. Hey, I hope you got a ton of value. Make sure you leave a comment and reach out to a coach to see how you can implement this strategy for you and get a plan, custom design to fit your needs.