Becoming Your Own Banker | Canadian Infinite Banking!

Welcome to our first introduction to the process of becoming your own banker, the infinite banking concept webinar of 2021. I'm your host, Jason Lowe, and it's just a real pleasure to be here with all of you. Thank you for committing the time to be here with us. Before we get underway, I just want to take a moment to recognize and acknowledge any of our attendees who are first responders working in health care on the front lines, or you know, someone maybe have a family member, a colleague, a friend who's on the front lines. We want to sincerely say thank you. And just to express our gratitude, we want to recognize the sacrifice that you're making and we just want you to know just how much it's appreciated. So thank you. Thank you sincerely. All right, now what I want to share with everybody before we get underway is just a couple of real quick things. So on this Zoom platform that we're on, it's a pretty amazing platform. As we get underway with tonight's webinar, there will likely be some great clarifying questions that come up for you. Please be sure to type those into the Q and A window so you'll have that option on your Zoom bar. You'll see that you can type in a question. Because we are going to allow for Q and A at the end of the session, we're the first people here, will be the last people to leave and make sure that all your questions get answered. And in addition to that, if you, at some point during the Q and A, if you'd prefer to come on and just share via audio, if you're comfortable doing that, then our panelists are going to help facilitate and be able to moderate that. So let me just go ahead and share my screen here with everybody.

Here we go.

All right, let's have some fun. What a peaceful, stress free way of life it is when you get the banks out of your life. A quote that was shared so frequently from the late R. Nelson Nash, a dear friend, a mentor of mine, to whom I owe a debt of gratitude that can never be repaid. And if it weren't for Nelson, we wouldn't be together this evening discussing and sharing this incredible message. So I just want to pay tribute to Nelson by opening tonight's talk with a quote from him. Now, by the end of the webinar this evening, I just want to share with you that you will know, you will know that you are capable of becoming your own banker. You'll get clarity on the problem, the solution will absolutely become clear, and you'll know exactly what to do. You're going to feel hope. You will feel hope and belief that this is the way to create your peaceful, stress free financial life. Now, you've been told by others to put your money away in things like retirement accounts, mutual funds, stocks, gold, silver. You put your own money in prison and then you have to go to someone else's bank when you need access to more money. It really is absurd. All of these financial institutions want control over the use and the motion of your money. So by providing you with all of these options to hand over control of your money when you need access to capital for opportunities that track you down, you have to go right back to the very bank that you transferred your money away to and access more money in the form of loans, lines of credit, etc. It makes no sense. And I'm telling you that if you've been handing control of your money over to someone else who thinks that they can do better with it than you can, then you may not be in the best situation right now. But I want you to know it's not your fault. I do want to say I applaud you for being here. You know, you could have been doing something else with your time. You chose to spend it with us. Thank you. You're committed to discovering the process of becoming your own banker. You're committed to, to radically improving anything that you're already doing financially, that you're giving up other things to be here with us. And so I want to applaud you for that commitment. I do want to share with you on a personal note that I discovered the path to my peaceful, stress free financial life the hard way. And I just want to stop sharing my screen here just to be with you and to be right in front of you, front and center and just share with you a little bit more about that. I want you to know that you deserve a life of no regrets. It was I'll take you back here a few years. It was September of 2006 and it was early evening and I was in Sherwood Park, Alberta, and I was standing in this empty, dark living room and I was staring out at a sold sign on the front lawn. Now you're my invisible partner and you're standing right next to me in that empty, dark living room. I was feeling like a failure. I was stressed. I felt defeated. I would never have expected to be here after doing all the things right financially. How was it possible that doing everything right got me here.

A few years before that? I was 30 years young. I was married, I had a mortgage. I was ambitious about my future. Up to that point in my life, I was doing all the right things according to all the mainstream financial advice. Over the course of the next few years, life decided to hand me several big challenges all at once. My first marriage was over. I was deeply in debt. I was on the brink of financial ruin. As a result of my marriage failing, I endured the unexpected passing of my mom and dad. Some of the most stressful events that you can experience over the course of an entire lifetime happened to me in just a few short years. So standing all alone in that dark, empty living room, I didn't know who to turn to for help. If you were in that situation, what would you have done? Just when I felt like I hit rock bottom, I remembered something that my late father used to say to me. He would say, jason, don't ever be found guilty of giving up on yourself. And so I made that decision in that moment to take control of my life. In 2008, I was contacted by a friend and Matt was a very successful and established business owner, still is to this day. And he invited me to attend an event and the topic was the process of becoming your own banker. The infinite banking concept. I didn't have the money to go, but being determined to find answers, I decided to do whatever it took to get there and I took action. I left that conference believing that everyone should hear about this process.

I began to implement it in my life and everything changed for the better. Today I'm remarried to my beautiful wife Rebecca. We have four young children. I no longer feel stressed financially. My family and I are in total control of our money. We're no longer worried about the ups and downs of temperamental stock markets. We're no longer worried about bad economies or government intervention. And because of this process, my family and I will never have another bad financial day in our lifetimes. While I'm alive and after I'm gone, I believe that financial power and control should be in your hands. Not the banks, not a loan officer, not the government, and not some risky stock market. And so in the next couple of hours, I'm going to take the past 12 years of time, money and energy that I spent in becoming an expert at this process. I'm going to show you exactly how I've helped thousands of people just like you Canadians coast to coast to build your peaceful, stress free financial way of life. Does that sound good? Now, it's true. Most people believe that they need someone else to take care of their money and Most people believe that it's necessary to risk their money in order to grow it. At least that's what the banks would have you believe. And all of the financial entertainers out there, most people know next to nothing about the process of banking and its importance to their lives and to their well being. Now here's the truth. The difference between you getting stressed or staying relaxed financially is who controls the banking function in your life. You don't have to put your money away in prison for decades and rely on someone else to achieve the financial abundance that you deserve today. You don't have to be rich to become your own banker. Now who is this for? Who is this process of becoming your own banker for? I want you to think about anything that you're already doing financially or that you're contemplating doing financially. And what you'll know at the end of this webinar is that by introducing this process, anything that you're already doing or even contemplating doing financially is radically improved. And so whether you're an entrepreneur, a business owner, an investor, high income earner, inexperienced, maybe just getting started on your financial journey, experienced, there's always something new to learn. Maybe you're already in retirement or preparing for retirement. Whether you're a family or a business owner, if you have debt that you want to recapture, this is a process that will radically improve anything that you're already doing financially or that you're contemplating doing financially. Now, I do want to share with you, it's important to understand a little bit of history in terms of how this process began. And when R. Nelson Nash first developed this process, something very serious happened to him. He had to have his heart replumbed in four different places. And I think we can agree that everybody needs a heart right now. What happened to Nelson is that for a few hours his heart was removed from his chest cavity, being replumbed. And while that was occurring, he was surviving on a heart and lung machine. Now, of course, he doesn't remember anything from that experience because he was put under for the procedure. But he said, you know what? All that I was doing was existing. I wasn't truly living during that period of time. I was merely existing. Now, if you think about this as it relates to banking, banking being the most important business in the world, it pumps money to where it's needed the most. And at some point that money is flowing through your hands and mine, right? Where does it all end up? It all ends up right back in the banking system. The issue here is how much of the banking function do you control as it relates to your needs. Someone must perform that function in your life. So think about Nelson's health scare. Had there not been a heart and lung machine to keep him alive, he would have passed away and would not have. I would have never had occasion to meet him. He would have never created this process and transformed the lives of hundreds of thousands of people. What most people are doing as it relates to the process of banking in their lives, it's the equivalent of living off of a heart and lung machine. They're not controlling that function. Someone else is controlling that function. And it doesn't have to be that way. There's only one pool of money in the world. What I mean by that is it's inconsequential that if you think about the Pacific Ocean or the Indian Ocean, there's no difference between those two bodies of water. You've got moisture that rises into the atmosphere, you have wind that moves, clouds that form and then it precipitates back down to earth. Rain, sleet, you know, snow, etc. And at some point that flows through you and me. We're primarily comprised of water. And so my question to everybody on the webinar for you to think about is, have you ever seen stagnant water? Now, most people would say yes. Would you ever eat or drink anything that came out of stagnant water? The answer is no. It could kill you. And so in order for life to thrive on planet Earth, water must flow no different than air, no different than blood. If blood stops flowing through your system in a very short period of time, you'll no longer be alive. And so money must be in constant motion, just like the banking business. If money isn't moving, the banking system collapses. Think back to the financial crisis of 08 09. Think back to just last year. Governments had to increase quantitative easing, pouring more money, creating more money where no money existed before to make sure that there were no log jams in the credit system. And so, as it relates to your money, think about where your money resides today. It's residing on the books of someone else's bank. So that leaves you in a position where there's an absence of control. It doesn't have to be that way. By becoming your own banker, you can control that function as it relates to your needs, and you can reverse that flow of money rather than have it flowing away, get that money flowing back to your family. Money flows from the pool. It's inconsequential that there are a number of different currencies on the planet. There's only one banking system. There's only one pool of money. And somewhere throughout the course of that flow, that motion of money, it ends up right back in the system. It flows through your hands, through mine, and it all ends up right back in a system that we don't own and we don't control. So remember, there's only one pool of money in the world. And what Nelson saw is that he was pumping money into the pool the wrong way. He was making payments for everything that he needed. He was paying for groceries, fuel, electricity, the mortgage, the property taxes, the car payment. All of that involved a permanent transfer of money away. He was pumping money into the system the wrong way because once he made those payments, he could never spend that money again. He couldn't earn interest on it. He couldn't use it again. It was a permanent transfer of money away from him, his family, and every generation that would come after him. He had to go through the bankers, the toll takers, the gatekeepers, who were all making money off of him and abusing him. Has that ever happened to you? He realized that what he needed to do, he had to crank up large life insurance premiums. The solution to the problem was already there. It was in front of him. You can't do that overnight. Everyone thought that he was crazy, including his wife, Mary. You've got to get it done incrementally over a period of time. Now, before I dive into the four characters in the financial play, I want to share with you that in the early 1980s, inflation skyrocketed. Now, some of you on this webinar may be able to relate to that. Inflation skyrocketed and interest rates peaked at 21.5%. And so Nelson owed a half a million dollars in mortgage debt because he was an active real estate investor during that period of time. Now, he was listening to all the financial gurus, all the financial advisors out there who were saying, listen, you should use other people's money, go to a bank, borrow the money, buy the piece of real estate, and your cost of capital is the interest on the loan. And so Nelson thought, okay, this sounds pretty good. And he did okay in the real estate, you know, arena. But nobody told him. None of the financial gurus told him what would happen if the interest rate lever went the other way. So he found himself owing a half a million bucks in mortgage debt at 21.5%. Now, that'll keep anybody awake at night. He was feeling stressed, pressured, constant state of anxiety. But what he didn't realize is that the solution to that problem was right in front of him. He already had several participating dividend paying whole life insurance policies that had accumulated a pool of accessible value called cash. He recognized that he could borrow money from the life insurance companies at 8%, pay off the snakes and dragons at 21 and a half. It took him and his wife Mary 13 years to achieve that. And from that point forward until his passing in 2019, Nelson and his wife Mary did not see a commercial bank for anything other than the convenience of debit. No loans, no mortgages, no bankers, no toll takers, nobody abusing them. All of the money flowing back to their family versus flowing away. Isn't that good? And so think about this. There are four characters in the financial play. You've got the depositor, the borrower, the banker, and the bank owner. Now, for all of you who are on this webinar this evening who are not already practicing this process, you are two of the four characters in the financial play. You're the depositor. If you earn income regardless of the source. Who sees the money first, you or the bank? The answer is the bank. Because your money must reside somewhere. Your employer doesn't hand you a check. Your employer directly deposits that money into someone else's bank. I say that again. Someone else's bank. Now you don't believe for a moment that the banks are letting that money sit still. Money sitting still isn't worth anything. Just like stagnant water. If you eat something out of stagnant water, it can kill you. If money isn't moving, especially in the banking system, it kills the banking business. So your money is left on deposit in someone else's system and they're putting that money to work for the benefit of the owners of the bank, which isn't you. The second character in the play is the borrower. This is the most important character in the play. This is the character that makes everything go round. The borrower goes to the bank looking for access to someone else's money. And you have to go through a process of qualifying credit check, income verification, and so on. How many of you enjoy that experience when you go to a commercial bank and you have to jump through a bunch of hoops, fill out a lengthy nosy credit application, justify why you need the money. Haven't met anyone yet who said, wow, I really enjoyed that process. I'm really looking forward to when I have to do it again. The third character in the play is the banker. This is the character who gets to determine who accesses the the Available pool of capital that can be lent out. The fourth character is the bank owner. The bank owner has an expectation of profit. And so if you can become all four characters in the financial play, then you can create wealth. You can improve the wealth that you've already created, you can expand it and you can keep the money in your family or keep the money in your business versus transferring it away like you're doing now. Always control the banking function as it relates to your needs. I say that again. Always control the banking function as it relates to your needs because someone has to perform that function in your life. People that I meet with every single day, that my teammates meet with every single day, we have an amazing team of coaches, by the way. People have abdicated their responsibility and more importantly, the opportunity as it pertains to the banking function in the economy. Think about the heart and lung machine. They're depending on someone else to perform that job. And that character in the play, the banker, is the one making the most money, and rightfully so. Because of the golden rule, whomever has the gold makes the rules. Now, the person on the street in Canada today has such a limited understanding, rudimentary at best, of the banking function and the importance of the banking function as it relates to their needs, that they're doing the equivalent of living off of a heart and lung machine. Now, what I want to show you and talk about is how to create a system in which you control everything about the banking function as it relates to your needs. Now, if I may just take a moment. So this book titled Becoming youg Own Banker, authored by my mentor, dear friend, the late R. Nelson Nash, this book has sold over 400,000 copies for a reason. And during the webinar, if you find yourself thinking, hey, you know what, I want to have a copy of this book. I want to read it. It's a 92 page read, takes the better part of an afternoon to get through. And Nelson wrote the book for you. He didn't write it for me, he wrote it for you. And so if you find yourself thinking, hey, this is a really interesting subject, I definitely want to get my hands on a copy of this book. You're going to receive a link, it may in fact have already been emailed or text message to you where you can purchase your own copy. We ship it anywhere in Canada, we sell it for less. And hey, you know, while you're there, pick up a copy for a friend, someone who you think would benefit from the gift of that knowledge. Nelson used to say often that the Very first principle that must be understood is that you finance everything that you buy. You either pay interest to someone else or you give up the interest that you could have earned otherwise. There are no exceptions to that ever. So if you save money in someone else's bank and you pay cash for things, when you pay cash, you permanently give up the opportunity to earn interest on that money for the rest of your lifetime. And for every generation that comes after you, when you finance something like a mortgage, every payment that you're making is a deposit into someone else's bank. And what you're doing is you're increasing the margin of safety for the bank, not for you. If you lease things, you're making a payment, but you never own anything. So every payment you're making is a deposit into someone else's bank. The whole idea is to recapture the interest that you're paying to banks, to finance companies, to credit card companies for all those things that you need throughout your lifetime, and in addition to that, to to have the money that you spend flowing back to your household or your business versus flowing away. The whole objective is to keep the money in your family. Now, understanding that your money must reside somewhere. My question to you is, how much of the banking function do you control as it relates to your needs? Someone must perform that function, and it should be you. Now, this process is not an either or. So it's not about, hey, I should invest my money in real estate or I should become my own banker. I should purchase Bitcoin or I should become my own banker. I should invest in this new business or become my own banker. This is an as well as.

I should invest in real estate and become my own banker. I should invest in that business and become my own banker. Because the process is not about addressing the yield of an investment. It's all about how you go about financing the things in your life which can certainly include investment. Remember that this is all about taking control of the process. And so I want to share just an example with you about going into the grocery store business. Now, you may find yourself thinking, what on earth is Jason talking about? I'm here to discover a process about becoming your own banker. I didn't come to a webinar to talk about going into the grocery store business. Just humor me as we go through this example and it'll become clear. Now, let's presume for a moment that we're going to go into a business in which you are both the consumer as well as the seller of a product. Everybody needs to eat and your market's unlimited, right? Everybody needs groceries. Someone has to perform the function of distribution. So for the vast majority of the general public, they go to a grocery store. The grocery store needs to perform that function of distribution. Now think about this as it relates to the banking business. Consider a business in which you are both the consumer as well as the seller of a product. Money. Your market's unlimited. Everyone needs the use of money. Someone has to perform the function of distribution. In order for a transaction to take place, money has to flow from one supply source to another in a relatively short time frame. Otherwise, nothing happens. We got to study the business. So that's why you're here this evening, is to discover the process of becoming your own banker. You got to study that business. You got to buy a superior location. You got to build an attractive building. You have to stock it with high quality merchandise. Now, up to this point in the process of getting into the grocery business, how much money have we made? Now, we put a lot of money in to get this business cranked up, but up to this point, how much have we made? Well, the answer is nothing. Because we haven't opened up our doors to all those captive customers that, that need food and want to buy it from us. So we got to turn the inventory. Imagine if we let the bread, the eggs, the butter, the milk just sit on the shelf and not turn that inventory over. The food would go bad and we wouldn't not only not make a profit, but we would have also wasted all the money that we used to purchase that inventory. It cannot sit still. It has to be in constant motion. If we turn it 15 times, we're going to break even. If we turn it 17 times, we're going to be profitable. If we can turn over the inventory 20 times a year, we can retire early. So I want to ask you this question. Now, I use an analogy that Nelson shares in his book Becoming youg Own Banker about the canopies. Now, let's presume for a moment. Now, not many people are aware of just how tight margins are profit margins in the grocery business. So let's take a can of peas as an example. We purchased that canopies from a wholesaler and we have to sell that canopies out the front door for more than what we paid for it from the wholesaler. That generates a profit. Now let's presume that we purchased the can of peas at 57 cents and we sell it for 60. So we've made 3% profit on that transaction. Now let me ask you this, if you're the owner of the grocery store, you call the shots. So you're the one that makes all the decisions. You call the shots. If you had the opportunity to walk out the back door with your groceries versus walking out the front door and paying retail, how many would say that they would go out the back door? Let me say this to you. So if you walk out the back door with that can of peas, how many cans do you need to sell to make up for the one can that you took out the back door without paying for it? The answer is 20. And if your employees see you doing that, what are your employees going to do? Well, they're going to mirror the behavior of the owners of the grocery store. It should be an interesting fact to everyone on the webinar that the majority of theft in retail, including grocery stores, is internal. It's from employees. So what's really important to understand here, the analogy is that if you are creating your own banking system and you're capitalizing your system of policies, you're putting premium into your policies, and then you access a policy loan for the things that you would have otherwise paid cash for, leased or financed, and you don't repay that policy loan, that's the equivalent of stealing the piece. And if your family sees you doing that, then what is your family going to do when you hand over control of the family banking business to them? They're going to repeat that very same behavior. And so by going out the back door, that's a polite description of theft. Now, if you went out the front door and you paid retail just like your customers would, then you're going to earn a profit and you're going to be able to buy more cans of peas to put on the shelf to sell to more captive customers. And so one of the things that you'll hear me say this evening is don't steal the peas. That's what I mean by that. If you're going to get into the banking business, capital has a cost. So you should treat your loans no differently than you would if you had to access the money from outside lenders. You should repay your system and not only pay what the insurance company calls for, but you should put in more, put more capital back into the pool. Because imagine going back to the grocery store. If the owner of the grocery store didn't pay 60 cents for the canopies, but paid 62 cents and did that repeatedly, that's going to give his grocery store more money to buy more inventory, to sell to more captive customers. That immediately improves the financial situation for that business owner and makes the business more valuable. You can do the very same thing in your own banking system. Now remember, the process of becoming your own banker is ridiculously simple. It doesn't need to be sensationalized. This is not complex. It's really simple once you know how. But you have to have a good coach. The clients that we work with are all extremely, extremely grateful that they have a great coach, somebody to help guide them, mentor them, and help them take advantage of this process and maximize it for their family. All right, now you should understand this. Don't steal the piece, okay? If we don't understand the problem, the solution just won't matter. And so let me take a moment to frame up the problem. Wherever wealth resides, someone will try to steal it. Now think about the current situation that we're in here today. You know, you've got a. This pandemic. I mean, my goodness, what's happening out there? Now the government's starting to discuss and communicate that Canadians are saving too much money. So how do we get access to it? How do we unlock those savings? We should be disciplined for saving so much money. Deficits rising to 381.6 billion Stats Canada is now. This occurred back in 2018, requiring Canada's largest banks and credit unions to turn over highly personal data about their customers. And. And they don't even tell you. That means every deposit withdrawal, bill payment, overdraft charge, credit card fee, mortgage payment, and more. Essentially, your life will be laid out for the government bureaucrat to look over. Now, I know there isn't anyone on this webinar that would invite a government bureaucrat to watch you take a shower. So why would you be okay with them being exposed to all your private information? And so when you implement this process and you develop your system, you have a policy or a system of policies. These are private contracts with a private company. These are unilateral, binding contracts. And you, as the policy owner, have full contractual authority. And so that is something that helps to alleviate stress, to alleviate anxiety, and to maintain your privacy, Something that you work so hard for and that you deserve. COVID 19 will give liberals power to raise taxes without parliamentary approval until the end of 2021. You know, there are two certainties in life, death and taxes. The only thing that doesn't get worse when politicians meet is death. And so regardless of what your political leanings are, it doesn't matter. Ask yourself this question. Are governments going to need more or less money in the future? The answer is obvious. It's more. And where's that money going to come from? It's going to come from taxable accounts and taxable income and taxable goods and services. The money that resides inside of your system of policies is shielded from government intervention. That money is shielded from tax on all of that daily growth and all of those advantages that it presents to you. Isn't that good? So ask yourself this question. Who is the banker in your life today? It should be you. Now, I want you to think about this. You earn an income. Doesn't matter what the source of that income is. Dividends, interest, T4. We have some American friends on the line tonight. W2, wherever that income is derived from, it gets deposited into someone else's bank. Sits there waiting for you to pay the bills. Everything that I described to you earlier and involves a permanent transfer of money away from you, your family, and your business. In other words, you're doing all the work and everyone else is getting all your money. How soon do you want that to stop? You're doing all the work and everyone else is getting all of your money. Ask yourself, how soon do you want that to stop? Now, let's look at, in this scenario, I want to compare two different types of people. So we have the debtor. So this is the individual who needs access to someone else's money to purchase something. Let's say it's a vehicle. So the debtor goes to, the lender has to qualify to access the money. So this is where the red line falls below zero. Because you start with a balance owing to. Let's say that balance is 50,000 bucks. And you have to make payments on someone else's schedule. So.

Every ratchet that you see here is a payment. And you don't own what was financed until you make the final payment. Now, when you make the final payment, you're right back to zero. And what most people do is they start that financing all over again. People will spend more money financing vehicles than they will ever save for retirement. And every dollar that you're making in payments is a dollar being deposited into someone else's bank. You can't spend the money again. You can't earn interest on it again. It's a permanent transfer of money away. Now for the saver. The saver says, I don't go into debt. I've been taught to put my money away. And when I have enough money to go buy the item that I'm looking for, I'm in no debt. Now the saver is storing money inside of Someone else's bank. The balance in the account rises to the point where they have enough money to go out and purchase the item they want. They withdraw the money from the bank, their balance drops right down to zero. So they're no further ahead than the debtor. And then they have to start that process again of storing money in someone else's system. Which one of these two are you.

Now? The person, the debtor, they see the interest, right? Because it's part of their payment. Hey, debtor, you have a car payment of 510 bucks a month. You know that a portion of that payment is interest. You can see it with every payment. The saver doesn't see the interest that they're giving up the opportunity to earn. The saver says, look, I'm not going into any debt. I'm not paying any interest. But nobody sat down with the saver and said, well, wait a second. Have you calculated how much interest you're giving up the opportunity to earn? How many of you on tonight's webinar have ever considered that when making a purchase using your own cash? Hey, I'm going to sit down and calculate all the interest that I'm giving up the opportunity to earn. I'm not a gambler, but I would wager that no one on the webinar has ever done that. And so this is something that must be reckoned with. There are no exceptions. The solution. Understanding again that your money must reside somewhere, the solution is to become your own banker. Now, I want to go through a fun thought experiment with everybody, and I'd like you to participate. I want to invite your participation. Here's the fun thought experiment. If you could invent an asset from scratch, okay, so you've got a clean slate now. You get to invent this asset from scratch. And it has no drawbacks whatsoever. What would it look like? In other words, what attributes would that perfect investment have? Now, I'll get the conversation started in the chat window by giving you a few of the most frequent responses that we get. The first one is a high rate of return. And I'll give you one more, a consistent rate of return. So go ahead and type into the chat window what are some of the attributes that your perfect investment would have? Okay, so Manas says tax free. Angelo says liquidity. Thank you, Angelo. Thank you, Manas. Peter says no risk.

Cecilia says perpetual. Joseph says compound interest. Thank you, guys. This is great participation. Therese says accessibility. Nick Tobin will capture a few more here. Nick, that's funny. He's detected. It rains money Billy Joe, great return. Angelo, control. And one more. So Doris says liquidity. Okay, thank you. Thank you all for contributing. Keep going. Keep typing it into the chat. Now here are the most frequent responses that we've received over the years that we've asked this question. See if any of these look familiar. Conservative. In other words, it's safe, it's liquid, it's guaranteed. Tax benefits are even tax free. No market volatility. It yields income besides a capital gain. Creditor, protected inflation, protected control transferable, easy to manage, no hidden fees or penalties. Reputable and private. Now, for all of your various assets, simply identify which of the features from this list do your assets do well on right now and which of the features do they fail to satisfy? This is a really, really interesting thought experiment to go through. If you take a look at all the assets that you currently have and complete that exercise, capture this list. You're all going to get a copy of this and so capture this list and compare that to your own assets. Now, I'm going to let you in on a surprise.

The list of attributes that I just shared with you most accurately describes a dividend paying, participating, whole life policy. Now I'm going to describe a bit more about this tool to everybody. But before I do, allow me to say this. If I put the best tool for the job in the hands of an incompetent, not only is that person not going to turn out any good work with the tool, they're going to break the damn tool. And so what's so important again is to understand that there's a distinction here. What I'm describing to you now is a product. Banking is a process, it's not a product. And so this tool, participating, dividend paying, whole life, a policy or a system of policies enables you to implement a process. And so what I would recommend to you is that make sure that you have clarity on the problem, because once you do, the solution will become clear, I promise you, and you're going to know exactly what to do. So let's go into a few of the interesting aspects of this particular tool. Participating. Let's break that down. What that means is that you become a co owner of the life insurance company and you participate in the profits generated from every product that the insurance company sells to the marketplace. You've heard of different types of insurance. Term insurance, critical illness, disability, group, employment, benefits, universal life, whole life, term life, et cetera. All of those products are actuarially engineered to produce profit. And so if you're a co owner of A company which in Canada, our track record now is 173 years and running, where these companies have never failed to produce profit. And you get to become a co owner of that company by being a policy owner. And you know that you're going to participate in the divisible profit every single year. How much capital do you want residing there? There's not a single documented instance of a participating policy owner in our country ever losing money. Your money must reside somewhere. Dividend paying. Every year that the insurance company declares a dividend, which they've been doing every single year since inception, the dividends are contractually guaranteed to be paid and they cannot be repossessed and they can never lose value. Now when people hear the word dividend, they think, oh, boy, here comes revenue Canada. That's not the case. When these dividends are chunked back into the policy to rapidly accelerate the growth, there's no taxable event. Whole life means you're insured for your whole life all the way to age 100. The total cash value of the policy is contractually guaranteed to match the total death benefit by age 100. And so every single day that you're aging closer to 100, the the cash value of your policy must go up and it cannot go down ever. I haven't had a single client contact my organization. None of my teammates as coaches and advisors have ever had a single client contact them in the past 13 years to say, you know, I'm really pissed off that my cash value keep rising every day. It's really frustrating me. Our clients are delighted because there's no pandemic, bad economy, government intervention, risky or temperamental stock market or stock market manipulation. There isn't any of that that can take away any of the accumulating value of these policies because they're not investments, they're unilateral, binding contracts. The insurance company itself is assuming 100% of the risk to fulfill legally binding contractual guarantees. A private contract with a private company with private loans. Gosh, it's bliss. It's heaven on earth. Now we don't have many financial guarantees in life anymore. Isn't that the truth? Pensions are going by the wayside. There's doubt about the future I always share with folks. You may have heard me say this. If you've seen me on the Facebooks or the youtubes or the Instagrammies or the tweeters or whatever all those social media platforms are, I say, listen, don't fear the worst, prepare for it. And so clients who have been policyholders for many years have not been impacted negatively financially through COVID 19.

Dividend paying, participating whole life contracts can help create that peace of mind and that unmatched financial security. No matter what happens in the future. Here's how cash values begin accumulating immediately and it is contractually guaranteed to grow daily easy access and control over a growing pool of financial value that you can use to take advantage of opportunity that will track you down. Nelson Nash used to say to me often, Jason, when you have a growing pool of financial value, opportunity will track you down, I promise. And he couldn't have been any more accurate. Opportunity tracks me down all the time. You're not penalized for accessing capital early like you are inside of a registered retirement savings plan or other financial products. Ask yourself this question.

If the government creates a problem onerous taxation and then turns around and grants you an exception to the problem that they created by enabling you to put money into a tax qualified plan like a registered retirement savings plan, aren't you just a little bit suspicious that you're being manipulated? These programs were created under the guise of giving you a break. If the government really wanted to give us a break, all they have to do is cut the taxes. Do you believe that they want to do that? And believe me, I'm the first person to share with you, I believe in paying tax. I think it's important. Health care, police services, critical infrastructure, all those things that we need to provide and to create a great society, great communities to live and work in. But onerous taxation is too much. And so the money that grows inside of these contracts on a daily basis is shielded. There's no taxation on the daily accrual of cash value. There's no taxation on the payment of the death benefit. There are several tax advantages that are beyond the scope of our webinar tonight, but especially for business owners. If you're a business owner on tonight's webinar, do yourself a favor. Schedule a call with your coach. You're going to receive an invitation to do that. In fact, everyone's going to get an invitation to do that. It's included with the webinar and they can share with you and expand on these advantages. And if you're a household earning T4 income and you want to keep more money available to your family, be sure to take advantage of that opportunity to talk with a coach. You'll be glad you did. You get a growing death benefit that's paid to your named beneficiaries income tax free. So that leads me to the wealth creator. So you remember the debtor and the saver. Now I want to talk to you about the wealth creator. This green line is that consistent day after day, month after month, year after year, decade after decades, cash value growth that cannot be taken away, it cannot be repossessed, it can't go down. The red line is the policy owner accessing policy loans from the insurance company without interrupting the daily growth of any of their own cash value. And so you're going to need the use of money for the rest of your lifetime for all those things that you need. The money must come from somewhere. So why not create a system where your pool of financial value is growing daily uninterrupted, and you have ready access capital to go and do all the things that you want to do in your life that require money. You are your greatest advantage in this process. So let's talk about creating your own system. Nelson Nash had five golden rules. Really important, fundamentally. The first one is to think long range. Now what that means is to think three generations past your own. The second is don't be afraid to capitalize. Your money must reside somewhere. So don't be afraid to crank up large premiums going into your policies. The more capital you put in, the more capital you get out. It's ridiculously simple. Don't steal the peas. Everybody remembers that, right? Don't steal the piece. And don't let anyone in your family or anyone in your business steal the P's either. Don't do business with banks. Every time you borrow money from a commercial bank, that commercial bank creates money where no money existed before. And what are you paying the bank back with? Real money. And so don't do business with banks because when you borrow money, you're contributing to inflation. Rethink your thinking. Everything begins with the way that we think. I say that again. Everything begins with the way that we think. We've got to rethink our thinking. The banks need you, not the other way around. The banks need you. So take control of that function. Now, let's talk about individuals and families here. Firstly, I want to share with you a client of mine, David Klein. He's an amazing guy. He's in the front lines every day protecting the public and just does a great job. And I really appreciate him. He's just an awesome guy. So he's been practicing this process for several years now, and he completed the class many years ago. And here's the question that he asked me. He said, jason, can you take a look at my financial situation and can you help me to implement becoming your own banker in my life. And here's what happened since. I'm very grateful to David for giving me permission to share this. And so David's story, he goes on to say that seven years ago a friend told him about this process and he was very skeptical when he first heard about it. His father worked for Revenue Canada and so after reading the book coming through the class and he decided to implement this process. Two years after opening his first policy, they took out a policy loan and paid off the bank loan on his wife Subaru, redirecting the payments from the commercial bank back into their family banking system. Three years later, took out another policy loan, skipped the bank entirely, this time using the money to buy a brand new SUV outright. In the fifth year they also had another child, so their family was growing. Took out a policy loan on him as well as a second policy on myself. With five policies now in force after seven years, our mortgage was coming up for renewal. Instead of renewing with our bank, we took out a policy loan from each of our five policies and paid off the mortgage. That creates a peaceful, stress free financial life because as the policy owner, David controls the repayment schedule of his policy loans, not the insurance company. He decides how and when those loans get repaid and what's happening to all of his pool of financial value. Every single day that he's driving the suv, every single day that his spouse is driving her vehicle, every night they lay their heads down to rest on their pillows, they get a good night's sleep, they wake up the next morning, their net worth went up and they're in total control of this banking function as it relates to their needs. Someone has to perform it, they're performing it now. That puts them in a position of total and and absolute control. Put yourself next to David and ask yourself, how would it make me feel if I was in total control of that function as it related to my family or to my business? Pretty good right now one of the most common questions that I get, and I have to share this with you now, is Jason, can you connect me with the right person on your team to take a look at my financial situation to show me how to become my own banker? The answer is yes, we have a becoming your own banker call design just for that purpose. So click the link that you've already received or you can text the word schedule to this number. 5878-166-399. That's 5 8, 7, 8, 166399 and reserve a day and time that works best for you. I know. And you should know deep down that you are capable of becoming your own banker. Here's the follow up that you can expect from us. We'll stay in touch with you via email. You'll receive an invite to schedule a time to meet. If we don't hear from you, then the right advisor on our team is going to extend a courtesy call to find a mutually convenient day and time to meet. And if you prefer not to meet, as long as you leave happy, that's okay too.

Fair enough.

Okay. The next client is Alan Antonio. So Alan, Janet, wonderful people, great family. They've been practicing this process for years as well. And he heard me speak in a presentation just like this one that you're tuning in here tonight. And when he had the opportunity to get the book, Nelson's book, Becoming youg Own Banker, he did that and scheduled a call, implemented the process and here's what he's been able to achieve. Let's go back. So they go on to describe that after hearing, hearing me talk on talk radio, a colleague of mine on Talk to the Experts radio program, he got excited about what he heard and he came out to an event and implemented the process. And after three years of building their policies, they already had acquired enough cash value that they could withdraw the money from the policies to pay off the bank mortgage on, on their rental real estate properties 13 years early. So just process that for a moment. 13 years early. So all of those monthly payments that would have been transferred away from their family into someone else's system got redirected back into their own system. Now that was a huge accomplishment knowing that they were really using the infinite banking concept as it was intended. When their oldest daughter and son in law purchased their first home, they were able to access a loan from her policy that they started. So they've insured practically everyone in their family that they have an insurable interest in and to buy that property rather than go to a commercial bank. His daughter and son in law shopped at home. They got the money to buy the property from the family banking system. So now all the payments that would have gone to a commercial bank are coming back to the family and Alan and Janet get to reuse that money. How does that compare to what you're doing financially right now?

Think about the peaceful, stress free financial life that they've been able to achieve by taking control of the banking function. And you can see Alan goes on to say, currently they're making payments back to us for the loan. Instead of the bank. Thus keeping with the idea of keeping the money in your family. Isn't that good. It's absolutely incredible how this impacts people's lives. It's phenomenal. I want to talk about how 99% of Canadian people go about buying vehicles. Now, why am I talking about cars? It's something that's common. It's an easy example for people to relate to. But I want you to think about this as it relates to anything. Anything that you would purchase in your life and anything that you're spending your cash on. Sound good? All right. Now, when you purchase a vehicle, there are three most common methods that people go about doing that. Each one of them involves a constant transfer of money away from you. The first one is leasing. So I call that a no purchase payment plan. So that's where you're making payments, but you never own anything. Now, for business owners, I hear from business owners all the time where they say, well, look, you know, my accountant said, this is a great idea. I should lease the vehicle. My company gets a tax write off. And all of that may be true, but my question is, was the person who purchased the vehicle that you're leasing stupid? Of course not. They recognize that the asset is the stream of payments, not the vehicle. So this is all about changing the flow of money. And anytime that you can redirect the flow of money that you were sending to someone else's system back to your own, your financial situation improves immediately. The second is a post purchase payment plan which is financing so you don't own anything until your final payment. The third is a pre purchase payment plan which is spending the cash. You store it in someone else's system, pile it up, withdraw it all, hand it all over to someone else. You get the car, they got all your money, and now you're driving around in a depreciating asset and someone else has all your money. With each method above, who's getting that money? Ultimately, the banking system. So here's a couple of questions for everybody on the webinar. How many vehicles have you and your family purchased up to this point in your life? Whether you paid cash, whether you leased, whether you financed them. Let's get a few responses in the chat window. Okay, nick, we have two. Tracy's three. So that's five.

Joe, five. Melissa, 11. Wow. Brian, 10. Sydney says too many. Okay, so I'm gonna. I'll stop the count. It's really rising here. I'll stop the count at 100 because we're well above that number now. Okay, now let's presume for a moment that the average purchase price for vehicles is 25 grand. I'm just going to use that as a number. Is that okay with everybody? So if we take 25,000 bucks.

And we multiply that by 100 vehicles, that's $2.5 million. Just with that number of vehicles, 2.5 million bucks that's been transferred away. Now, how many more vehicles are you and your family going to purchase for the remainder of your lifetime? And ask yourself this question. Of all the vehicles that you've had the use of up to this point in your life, how much of the money do you have?

Something to think about.

Let's change that. But you have to have the desire to change. You need to possess that desire to change. And it's going to require a period of introspection, because right now you're spending all of your financial resources on all the things that you believe are important. And so you need to have the right mindset and the desire to change if you want to take control of this function. Let me share my own example. This is good. Back in September 2017, I decided to buy this exact vehicle, a Ford Explorer. Now, I don't want anybody booing me or making any comments in the chat window, but I do want to tell you that the reason why I chose to purchase a Ford is because Ford is the only motor company that did not accept any of the TARP bailout money during the financial crisis. And so I decided, okay, I'm going to buy this Ford. I understand that Ford also has several billion dollars in cash value inside of participating dividend paying whole life contracts. So when I decided to buy the car, it was 55 grand. I could either pay cash for it, I could finance it, I could lease it, but I decided not to do either of those. I decided to implement the process, which I had already been doing since 2008. So I requested a policy loan from the insurance company, and the insurance company asked me two questions. Would you like us to electronically deposit the money into your checking account? Or can we mail you a check.

That is peaceful, that is stress free, and that puts me in a position of total control. So of course I said I'd like the money electronically deposited. Now imagine for a moment what the lost opportunity cost would have been if I would have used my own cash to go buy the car, or if I would have financed it or leased it and transferred all those payments away from me and from my family, from my children, from their future children and the children that will come after them. I decided to take control of the function. And now the money's flowing back to me. Here's the process broken down. I capitalized my policy. I had to pay premium. Don't be afraid to capitalize. Remember Nelson Nash's second golden rule. Don't be afraid to capitalize. Your money must reside somewhere. When I requested that loan, my cash value was used as collateral for the loan. Don't do business with banks. The insurance company placed a lien on the death benefit for the loan balance. While 100% of my cash value continues growing every single day inside of the policy uninterrupted, I control the repayment schedule. So I decided to repay my policy loan at a rate of 1,066 and 43 cents a month for five years. I decided that don't steal the piece now. Heaven forbid, if something happened to me. My family receives the the death benefit tax free, minus whatever the loan balance is. And they still own the car. That's thinking long range. Where did the money come from to buy the car? It came from the insurance company. Who owns the car? I do. I own it free and clear. Because a policy loan places a lien on the death benefit of the policy, not the vehicle. I own the vehicle free and clear. And who's got all the money? I do. It's still growing inside my system uninterrupted. So I'm kind of like an Uber driver. But I never have to pick up anybody. So it's a really, really peaceful, stress free financial existence. Now what happens if I choose to stop making policy loan repayments? Or what if I choose to modify it? You know, what if COVID 19 had an impact on me and I said, you know what? I'm not going to repay at a rate of 1066amonth. I'm going to repay at a rate of $200 a month. Is anyone from the insurance company going to call me? Of course not. Because the insurance company itself is guaranteeing the collateral for the loan. That's why they don't require a repayment schedule. I'm the policy owner. I call the shots. Isn't that good? How much of the money that I put toward policy loan repayments can I use again? All of it. I get the car, I have all the money, and I recapture the interest that I would have paid to someone else's bank. If you can do this for cars, is there anything that you can't do it for? That's Nelson's fifth golden rule. We have to rethink our thinking. If you can do this for vehicles, is there anything that you can't do it for? The answer is no.

Now.

Let'S talk about the word retirement. Now, I personally don't like that word. I prefer the words passive income. Passive income. Time to retire means to be taken out of service. How many of you on tonight's webinar want to be taken out of service? There's one powerful force that everyone on this webinar needs to fight and that's gravity. And what does gravity want to do? It wants to pull you back into the ground, wants to pull you down. So when you get to your retirement years, be sure to stay active. Don't take yourself out of service because if you do, you're going to be low hanging fruit for gravity. And that's an analogy. That's courtesy my amazing business coach, 10x ambition coach, Dan Sullivan, who has been coaching entrepreneurs for decades. He is the brightest, best entrepreneur coach on planet Earth. And he has just had an incredible influence on my life personally and professionally. And so if you haven't heard of Dan Sullivan from the Strategic Coach, you have an opportunity. All right, let's talk about the personal guaranteed retirement solution. Now again, we can't use the word guaranteed very often, but in this case we can. So let's talk about nausea. So she's age 45 and her objective was to have 39,000 in net annual retirement income from age 65 to age 90. She deposited $30,000 into her dividend paying participating whole life policy for 10 years. Now, the reason she chose $30,000 is she said, you know what, I want it to be somewhere in that range of what I would have otherwise contributed if I maxed out my registered retirement savings plan. Okay, that's your Privilege. Total in 300,000 bucks. 30,000 multiplied by 10 years, 300,000 from age 65 to age 90. NASIA accesses 39,827 per year tax free. Total out 1,035,000. Now, NASIA passes away at age 91 and leaves 586,000 income tax free to her named beneficiaries. So ask yourself this question. Is it easier to save 300,000 inside of a policy or is it easier to accumulate 1,035,000 inside of a mutual fund or an RRSP? The answer is obvious. Let's talk about investors and business owners. And we work a lot with chartered accountants who were very blessed and grateful that they refer clients to us who are business owners, established business owners who are operating in profit. And.

My dear Friend here, Tim Dawson, senior partner, chartered accountant with Myers Norris Penny, Canada's largest national accounting firm. He goes on to say that he would not hesitate to put me in front of anyone. And then I'm really an expert in this field and I'm super grateful for him. He's referred so many wonderful clients who are delighted with this process. And the one thing that he didn't realize is that this tool was there all along and all of the benefits were there all along. But nobody told him because, you know, accountants think in terms of tax code. Business owners and households think in terms of capital money. And so once Tim understood the process and more importantly, once he understood the problem, the solution became clear and he knew exactly what to do. And in fact, he practices this process himself. Now let's talk about business owners who are with us tonight. Let's talk about a guaranteed retirement solution. So in this case, the business owner named Dylan, he's 45 years young. His objective is to have $41,000 in net annual retirement income from age 65 to age 90. The corporation, so not Dylan, the corporation deposits 50,000 into a corporate owned dividend paying policy for 10 years. So that's a half a million in corporate tax on the daily cash value growth is zero. Passive investment income tax is zero. Corporate owned policies are exempt from the passive investment income tax rules. From age 65 to age 90, Dylan accesses $41,005 a year. After tax total out $1,066,000. Dylan passes away age 91. The net death benefit is $806,000. However, his death gives rise to the capital dividend account in the corporation, the CDA account that receives a credit for $3.5 million. Capital dividends are paid out of the corporation tax free. So understanding that your wealth must reside somewhere, did this policy take away any of Dylan's options? Of course not. Take a moment to think about your kids, your grandkids, your great grandchildren. We've been taught to be divisive. Think about this. How many of you have heard your parents or someone close to you say one day you're going to grow up, you're going to move out of the house, you're going to start your own family, you're going to have your own bills, you're going to understand what it's like. Show of hands. How many of you have heard that before? And that creates divisiveness. The wealthy don't talk that way. The wealthy circle the wagons around the family and say, we're going to keep the money in the family. So when I speak to my beautiful wife Rebecca and our four children, I talk about keeping the money in the family. And our extended family practice this process and they understand the importance of keeping the money in the family. When my children grow older, I want their mortgages, their car loans, their business investment loans. I want all of that money coming back to the family, not flowing away. Now, this picture that you see here is of my family. Now, the reason I'm sharing this, you can see the t shirts that we're all wearing that read annual family banking meeting. Once a year we gather as a family and we have a family banking meeting. How many of you have done that before? And when we get together, all the children are involved because children pick up on this faster than adults do. Children have a much higher degree of neuroplasticity than adults. That is why it is so advantageous for children to learn a new language at such a young age. Now what I want to share with you is that at this particular annual family banking meeting, we were on a cruise ship, the harmony of the seas, the largest cruise ship in the world at that time. And my sister in law and her fiance at the time were married on the boat. And so on the boat they said, look, we're going to give you a conference room. You can get together, spend this time with your family. And we recognized, for example, my son Jackson. He had repaid his second policy loan. He's already using language. He was 11 at the time and he was already using language like, dad, it's important to keep the money in the family. I've got to repay. Don't steal the peas. He. He gets it. Now what's really, really just warms my heart and fills my heart with joy is that this gentleman that you see standing in the back row here, this is my father in law, Larry, and we nicknamed him papa. And he was an edmonton police service member for longer than three decades. Had a wonderful career. And when he retired, years after he retired, I sat down with him and I said, look, I want to take out an insurance policy on your life. And he said, well, Jason, I don't think that I'm insurable. I'm type 2 diabetic. I don't think that I'm going to be life insurable. And I said, well, why don't we find out? And so we applied, we got him approved. And I said, papa, here's what we're going to do. God forbid if anything happened to you, and this was years ago.

What we're going to do is make sure that Nona, so this is papa's spouse and they were happily married for many years. And we said, listen, we're going to make sure that Nona doesn't have a bad financial day for the rest of her life. If there's any debt, we'll make sure that debt gets wiped out. And we're also going to use a portion of the proceeds to put policies in place on all of your grandkids and that's going to be a part of your legacy. And he said, that sounds good. And I said, I'm going to pay the premium all on the policies and all that I want in return when that day comes, and that day will come, you will pass away. I just want to be reimbursed for the premium I paid. And he said, fair enough, let's do it. And so sadly, Papa passed away last September and we've honored his legacy. And so that is keeping the money in the family. And that's thinking long range, three generations past your own. You can do this too. Your family can do this too. Over the course of an entire lifetime, I want you all to think about the money that leaves your family for things like mortgages, investments, cars, property, weddings, taxes, tuition, business loans, insurance, personal expenses, business expenses, recreational vehicles, vacations, sports, hobbies. Add up all that money that you've earned and spent up to this point in your life. Could you write me a check for that amount of money right now? Of course not. You did all the work to earn it and someone else and everyone else got all of it. Have the banking process work for you rather than against you. You don't have to get a policy or a system of policies from us. There are many, many great people that you can work with. But please don't try to do this alone. Households and business owners who do this right, they all have a good coach and I recommend getting one of our coaches because they're the very best, bar none. I couldn't be any more proud of our coaches. They are absolutely outstanding. And when you choose who you're going to work with, here are some things to think about. You've got to be careful about the life carrier that you put your policies with and ensure that your policies are are designed properly. Secondly, most people who are selling you life insurance, they do not have expertise in this area. Remember, the policy is a product, banking is a process. So make sure that you're working with someone who is thoroughly familiar with becoming your own banker, the infinite banking concept, and who can demonstrate to you that they're practicing this process in their own life, not just selling you an insurance policy. Number three, you should choose someone who is an authorized infinite banking practitioner with the Nelson Nash Institute. Now here's what that means. It means that they've been through a curriculum. They have been through a process of mentoring. They are implementing this process in their own lives. Now, all of our coaches here at Ascendant, with the exception of a couple of folks who are still in their mentoring and doing a great job, making great progress, all, all of our coaches are authorized with the Nelson Nash Institute and are in great standing. And we've been practicing this process for years, teaching people, educating them coast to coast. People just like you that we have the privilege to serve every single day. This is what we do. We specialize in the implementation of becoming your own banker, the infinite banking concept. Now, the reason you should do this in your life right now is because you deserve the outcome. Now, the longer you wait, the more you penalize yourself. The real questions are, what's the cost of doing nothing?

What's the cost of just one more year of all your money leaving your family or your business permanently? What's the cost of giving up all that interest that your money could have otherwise earned? Schedule a time to meet with us. It's included with this webinar. So let's do a quick recap the fundamental truths. The difference between you getting stressed or staying relaxed financially is who controls the banking function in your life. You don't have to put your money in prison for decades and rely on someone else to achieve the financial abundance you deserve today. And you don't have to be rich to become your own banker. This process, you might be thinking, hey, this looks awesome, but how will I know if this is going to work for me? That's a very valid question. Schedule your discovery call. That's the purpose is to determine how this can work for you and to establish whether or not we have a basis to work together. Click the link that you received or text the word schedule to the number that you see here. Take out your iPhone, snap a pic of that number. 5878-166-399. Reserve a day and time that works best for you. If you book your call before the end of the webinar, here's what you're gonna get. You're going to get a one on one conversation with an authorized infinite banking practitioner on our team. You get an online video series courtesy of the Nelson Nash Institute that you would have otherwise paid. $49.95 for that's going to be our gift to you with our compliments. Just an abundance of a video series directly from the Nelson Nash Institute. You're going to love it. The videos are great. You're going to get a clarity meeting. Now again, you may be thinking, hey, this all sounds great, but I don't want to do this alone. Don't worry, we're not going to leave you out there in isolation on your own. You get lifetime mentoring quarterly group coaching sessions so we can remove you from that feeling of isolation and immerse you in a group of people who are like minded, who are practicing this process. There's a ton of additional valuable resources for you. You can find us on the YouTubes, on Google, on the Facebooks. We've got a podcast, Wealth Without Bay Street. Again, that's wealth without Bay Street. It's an amazing podcast. We'd love for you to tune in. Now look, if you understand the problem, the solution becomes clear and you know exactly what to do. Most of you may have already viewed this documentary film that I had commissioned on my mentor, the late R. Nelson Nash. If you haven't seen it, it's a one hour documentary. You can ease on over to nelsonnashfilm.com Again, that's nelsonnashfilm.com there's no cost to view it. It's out there, it's available for the world to see and it'll give you a glimpse into the essence of just how incredible Nelson Nash was and the impact that he's had on our lives.

Testimonies, reviews, all of the people who have been practicing this process over the years. We are eternally grateful for all of your reviews, your kind remarks. Thank you for putting your trust in us. And now if all this process did was keep more money in your family or business, would it be worth it? If all this process did was create a peaceful, stress free financial life, would it be worth it? There's a real power and commitment to yourself now. You have options. You can do nothing and nothing will change. You can continue to work your butt off for the banks and everyone else will get all your money. The second option is to schedule that call and put financial control back in your hands. If you're committed, what would you do?

Are you committed?

I want you to picture a day when financial control is in your hands. Not the bank, not the government, not a risky stock market. I want you to picture a day when your spouse leans over and says, thank you. Thank you for not making me wait 30 years to enjoy the lifestyle that we want today. Picture a day when your finances are exactly where you want them to be and you know with certainty that you have the freedom to travel when you want to travel, to relax when you want to relax, and to serve when you want to serve. I'm going to leave you with this.

I was 24. I'm going to take you back again for a moment. I was 24 years young. I had all my belongings packed in my Chevy Beretta and I was ready for the three day drive from Timmons, Ontario to Edmonton, Alberta. I was standing in the foyer of my dad's home, I'll never forget it. And he wrapped me in a big bear hug and he said, son, I'm proud of you. Drive careful. Call me when you get to Edmonton and don't get any speeding tickets along the way. I got pulled over by the RCMP right outside of Winnipeg and I got my first and only speeding ticket. And when I arrived in Edmonton, I didn't call home. I got straight to work. And three weeks into being in Edmonton, I was sitting down to dinner with my team and I remembered to call my dad. So I excused myself from the table. We were all out to dinner together and I made the call and my stepmom Beverly answered the phone. And when I asked to speak to dad, she said, well, he's in the bathroom, do you want to wait? And I said, no, I don't have a half an hour. Please let him know that I apologize for not calling sooner, that things are going great and we'll catch up as soon as I can. And she said, absolutely, I'll pass it along the message. The very next morning, I was paged to pick up an urgent phone call. And when I picked up the phone, it was my stepmom Beverly. And she was frantic. She told me that my dad had passed away suddenly and unexpectedly and I was instantly devastated. I know that it's human nature to procrastinate and that there will always be time, but what I learned is that you can't wait. When my dad died unexpectedly, I felt lost and I felt full of regret and that I had let him down. And since then, I've dedicated my life to helping people just like you to live a fulfilling life now so there are no regrets later. You deserve a life of no regrets.

You deserve to be in control of your financial future. You deserve a lifetime of abundance. So join me and let's get you the life that you deserve. Thank you all. Thank you sincerely for tuning into our webinar this Evening, and I want to invite some questions, and what I'm going to do is I'm going to bring Vern on, one of my amazing teammates. And. Vern, are you there? Can you hear me?

I can hear you. Jason, can you hear me?

I can hear you loud and clear. Why don't we do a little bit of Q and A? Let's.

So let's get right to it. Let's start answering some questions. Go ahead.

I'm so excited.

There's some really good questions in here.

Okay, so my first friend here, honestly, I think it's Zahid. How specifically does one become one's own banker?

Did he just tune into the webinar?

I was going to say, I don't know if he's here the whole time.

I'm only kidding, Zaheed. I'm only kidding.

Please forgive me.

I'm only kidding. It's been an amazing day here. We've been on the go since, literally, I've been on the go since 5:30am Mountain time. And so I like to have a good laugh every now and then. But thank you for being a good sport. So the first thing, the first, again, what needs to be understood is the problem. Because without a clear understanding of the problem, the solution just won't matter to you. And so my hope is that you had an occasion to take in the webinar this evening, and I hope that you captured some additional questions, maybe some lingering thoughts. But the best next step for you, now that you've seen us pour a bit of foundation of knowledge, is to create that call. So meet with a coach and make sure that, firstly, all your questions get answered. And secondly, get your hands on a copy of Nelson Nash's book, because he does such a great job outlining, in addition to what we've shared this evening, how to create your own system just like the one that you already know about.

Let's see here. This is from Dan. Oh, this is great. How is stealing the peas theft if you paid 57 cents for it?

Oh, well, hey, that's a great question. So if you paid 57 cents, then what you paid was wholesale. So you're right, that's not theft. If you put 57 cents in the cash register, then you did pay wholesale, but you didn't make any profit. And so if you're in business and you don't have a profit motive, then.

You may not have a valuable business.

To sell or to transfer at some point in the future. And so what we want to do is we want to, obviously not steal the piece. So we got to put that money back into our system. Whenever we access a policy loan, we should have a plan to repay that loan and we should be ambitious to.

Put more money back in than what the wholesale is.

So whatever the insurance company lent to you, that's wholesale. The simple interest on the policy loan added to the wholesale becomes retail and.

You put a little bit more money.

In the cash register so the insurance company has more money to multiply for you and for everyone else who co owns the business.

Isn't that good?

Okay, so this one, this question Jason, is from Cindy and it's multiple fold here. So it says if Nelson Nash only used life insurance policies to fund his life, how much are you allowed to put into life insurance policies? That's piece number one.

Nelson started with one policy like most people and he ended up accumulating 48 policies in his family banking system. And so over the course of many years, as more money was flowing back to his family, he was cranking up more policies because your money must reside somewhere. And so the first step is to determine what can I put into a policy that is both comfortable and affordable? It has to meet those two criteria and the policy owner makes that decision. What's comfortable for me, what's affordable for me, That's a starting point. And then your coach is going to help you implement the process, help you become independent so you truly become your own banker. The two most important words in this book title are, are right here your and own. We don't want to create dependent clients, we want to create independent clients. And we'll coach you on how to do that and then you'll know when it's the right time to add additional policies to your program. We have 51 policies in our family banking system. Now regrettably I didn't surpass 48 before Nelson graduated. When he passed away, I promised him that I would and I've achieved that. And you can too.

Perfect. Second part of the question is he was American, so does it work in Canada and are there mutual companies in Canada that have a 4% guarantee?

Great question. So the answer is this absolutely works marvelously here in Canada. We've been practicing this process since 2008. And yes, there are mutual life companies in Canada. And so I would encourage you to connect with your coach, make sure you have that call and they can expand for you on again, what tool, the design of the tool, what is going to be best for you and all the life carriers in Canada that provide participating dividend paying Whole life policies, they all contractually guarantee that the total cash value will match the total death benefit by age 100.

Great, Jason, thank you. Sydney wants to know what's the name of the podcast? What's the podcast called?

Oh, thank you for asking. Okay, here, let me bring that up on the screen for everybody. Let's take a peek at that. All right, so the podcast. Now if you just ease on over to our website. So that's AscendantFinancial CA. Again, that's AscendentFinancial CA. You'll know that you've landed in the right place because it's pretty evident on the homepage exactly what it is that we do. And then if you just under money and wealth, if you click on podcast, this will take you to our podcast, Wealth Without Bay Street. Now, you can also hit that on the Internet's wealthwithoutbaystreet.com that's wealthwithoutbaystreet.com and if you like the YouTubes, as most people like nowadays, the YouTubes, just head on over to YouTube. And when you go to the Wealth Without Bay street podcast, you're going to be able to view all of the episodes, all of the videos. As you can see here, we have just an abundance of resources that you can tune into. We actually have a client series. So these are real clients who have been practicing this process in their lives. So don't take our word for it. Go and tune into these client interviews and hear their stories. There's going to be so much more coming out this year. Thanks for asking.

What happens if you live past age 100? Excuse me, that's from Dom.

So the policy is fully performed at age 100. So the insurance company will say, look, we can cut you a check for the total death benefit of the policy, or if you'd like, you can leave the money on deposit. And we have to start sending you a monthly income until you pass away.

And that's guaranteed, too.

The fastest growing segment of our aging population here in Canada are centurions, people who are living to age 100 and beyond. That's why in the United States a few years ago, they increased the contractual guarantee to age 121. And there's a reason for that. People are living longer. Great question, and please live that long.

Jason Jagdeep says, are dividends guaranteed?

The only dividend that's not guaranteed is the one that hasn't been declared yet.

So when a dividend is declared, which they get declared once a year, they're contractually guaranteed to be paid, and they can never be repossessed or lose value. And the companies that we work with have never failed to declare and pay dividends.

Awesome. This is a great question from Howard. He says, if the government is looking into all sorts of new tax grabs, what prevents them from taxing dividends from dividend paying? Hold whole life insurance policies?

While there's nothing preventing them from doing that right now, if the policy owner takes those dividends out of the policy in the form of cash, then the dividends will grow to the point where they do trigger a taxable event. And so as long as you're chunking those dividends back into the policy, there's no disposition for tax purposes. So I hope that helps.

This is a great question from Dom. He says, what happens if you get divorced? Can she take it all?

Oh, boy. You know, that's why I'd say that's a question that's actually. I mean, it's pretty predominant right. In the society that we're in, you know, and why. And I'm asking you this, Vern, why do most marriages fail?

Money.

Money problems. And so if you just take a step back for a moment and you recognize that if you look at medical maladies in human beings, most of it begins with stress. And there are couples, married couples out there right now, while you're tuned into this webinar, there are married couples out there right now arguing about money. And it's driving a wedge in the family. It's driving a wedge in the relationship. Now, God forbid, if there was a policy in place dependent upon how the policy is structured and a divorce occurred, then again, based on the entire couple's matrimonial picture, that would determine how the policy gets handled. And so there's no cookie cutter response to that question, unfortunately. But that would be handled on a case by case basis, and your coach would know how to best structure the policy. So be sure to book that call and expand on that a little bit further if that is a concern, a real concern that you're dealing with.

Here's a good question from Kent. When did you meet Nelson and when did you get your first policy?

Oh, my God. Great question. So I got my first policy. I applied for my first policy in July of 2008. I didn't have occasion to meet Nelson until February of 2011. And I was blessed beyond the definition of good fortune to be mentored by Nelson for right up until his graduation. And he's the first person that I see when I come in to my office and the last person that I say goodnight to when I leave, and I owe him a debt of gratitude that can never be repaid. He's had an impact on my life that is just incalculable. And I was blessed to know him and to spend the time that I did with him. And I'm eternally grateful for that and I will see him again.

Awesome, Jason, thanks for sharing that. Dom is crushing it with the questions here. Jason, there's a lot coming in from Dom, really good questions. Does all funds, money have to come from your pocket first, as in you have to save, invest in the whole life before you can borrow anything?

No. No. And your coach can expand on that with you. The short answer is no. So the moment you start capitalizing your system, there's accessible loan amounts available. And if you're working with one of our coaches, they'll be sure to maximize the availability as rapidly as possible. So make sure you book that call.

Jason, I just want to, if you don't mind, I just want to look a little deeper at this question and expand a little bit. I think what Dom's asking here, does all funds, money have to come from your pocket first, as in, do I have to save, invest in the whole life policy before I can borrow anything? I think he's talking about capitalizing the policy, Jason. I think he's talking about paying premiums.

Oh, I see. Well, there are multiple sources of premium. And so it can be liquid savings that you're presently storing in someone else's bank. It can be, you know, we've had many clients who have looked at their existing financial picture and said, hey, you know, I've got this money in registered retirement savings plans. Maybe it might make sense for me to strategically melt that RSP down, move it from a forever taxed environment to a never taxed environment. And that's where we involve a chartered accountant and someone who can provide, you know, proper tax advice to help that person understand what the consequences of those decisions are. Because we're not tax professionals, we don't provide tax advice. We involve the good guidance. We have a chartered accountant by trade as an extension of our team who's available to participate in those discussions. People are utilizing, you know, net realizable equity from the sale of real estate or from, you know, other assets. And so there's a wide variety of potential sources of premium. I hope that helps. This is an exercise in imagination, right? Because you're already spending all of your financial resources on the things that you believe are important. And so the money has to come from somewhere and it's already there. It just requires a change in priorities.

Jason, I'm just, I think you've done a good job of answering many of the questions that Dom has here. I'm just going to read a couple out loud because I think you just kind of covered them. He says, if I want to borrow to purchase a home, would I have to save. Save the entire amount beforehand, then borrow it from myself and then pay my. Pay interest with my own money?

And maybe as a suggestion, Vern, for this gentleman who I want to say thank you, thank you for asking so many great questions. Let's be sure to move along and capture some others as well. But I would absolutely encourage this gentleman to make sure that when he meets with an authorized infinite banking practitioner on our team that he gets all of his questions answered. Make sure that you have clarity before you do anything.

Okay. I hope I'm pronouncing this name correctly. Manna's recapturing interest. I'm not able to wrap my head around. Can you guys forward some resources if there is a good explanation on this?

Well, I'll do even better. So In April of 2008, you could still get 40 year amortizations on your mortgage. So my wife Rebecca and I, when we moved into our first home together.

Right here in Alberta after moving back from a short international stint in the United States as an international work assignment that I was on and we purchased.

This home and that was in April of 08. I was introduced to this process in July of 08, began to capitalize my system and we got rid of the commercial bank in seven years. And so 33 years of payments that would have otherwise left my family and every payment's comprised of principal and interest. If I have that money now flowing back to my family versus away, I'm recapturing that interest. So I hope that helps.

This comes from Dan. Can a person make one large deposit, say 50 or even 100,000 to start?

Well, I would say if you think about the last time you went into a teller at the bank and asked them if you could make that kind of deposit, they say yes or no.

The life insurance company will accept their deposit taking institution. And so the simple answer is yes, but it requires a conversation with a practitioner to frame that up.

Okay. Zach wants to know what happens if Covid or something similar hits. You can't pay the large upfront premium come the next year.

Well, we structure the policy so that the premium that you choose to put in is not the minimum premium required. So if a potential policy owner says, look, I want to put 20,000 into a policy, we structure it so that the policy requires much less than 20,000 as a minimum. And so there are always options to maintain the policy. If there's a financial event that prevents you from having the money or the resources to pay the premium, there are always, always options to maintain that policy.

Okay, I don't know how expressive I should be here with this one. Manny asks, when borrowing from the policy, what is and in capital letters, interest rate, do you pay?

Well, it depends on the life carrier. The simple interest calculation can range anywhere from 5.25% to 8%. And so it depends on the life carrier. But the simple interest that's applied to a policy loan balance is just that. It's simple interest. So it's calculated daily compounds on the anniversary date of the policy or once per year. And so it's very inexpensive capital. And one of the fatal errors that happens when people are looking at this process is that they think it's a function of rates. This has nothing to do with rates. This has everything to do with the flow of the money and who's getting it.

And so if you access a policy loan from the insurance company at 8% and you repay that policy loan even with just the 8%, I always put more capital in. But let's say it's 8%. You get to re access everything you put back in. So the rate doesn't matter.

I want to commend all the folks who are sticking around. This is a little bit unorthodox. In most webinars that you see, it's pitch, pitch, pitch.

Right?

Buy my stuff. Buy my stuff. Buy my stuff. And thanks for tuning in. Have a great night.

Good luck.

Hope you get there. You know, we're a little bit unorthodox that way. We always say that we're going to be the last people to leave, and we mean it. And so for all of you who are sticking around and getting your questions answered, thank you. Thank you for continuing to give us your precious time. We know it's valuable and we hope that you're getting some value out of this Q and A.

Yes, I still see 113 attendees. Jason, so this question is from Aswal. He says, or excuse me, he or she. I'm not sure. They said the extra payments you made for the car, did the extra go into your policy?

Go to your policy, like for my own vehicle example.

I believe that's what they're referring to. Yes.

Yeah, we're still making those payments because the vehicle was purchased in September of 2017. And so we decided on a five year repayment schedule and so we're still making those payments back to our system. Now what's happened since then? Just for trivia. So my wife Rebecca is now driving that vehicle because her vehicle was sold to my sister in law Jenny. And I purchased a Nissan vehicle because I'm probably one of the cheapest people that you'll ever meet. I rubbed two nickels together until the beavers fart and I was really frustrated with what it was costing me to fill up that Explorer and so I went and purchased an Altima and gosh, I took possession of that vehicle. I think just prior to. No, when did I get that car? I think it was just prior to the new year and I filled the tank up once and I'm still driving on the damn thing.

And we used the policy loan to buy that vehicle too.

So yeah, I'm pretty sure you use policy loans to buy your gas too, don't you Jason?

Okay, great. So this one's also from Aswal. It just says is there any age limit to when you're not insurable in brackets too old?

Well, the maximum age that a participating policy would be issued is age 85. However, if a person were more mature than age 85, then they don't have to be the life that is insured. You can insure someone that you have a beneficial insurance interest in. You can be the policy owner. So you have full contractual authority. You control access to capital, who receives the death benefit. You control who's the backup owner in case you pass away. And so you can practice this process at any point in your lifetime, even if you're not life insurable.

Okay, this is a bit of a mouthful from Brent here. That's a longer question. It says thanks for the examples of becoming your own banker people, but what about inflation? Do your retirement income examples include inflation which reduces buying power? 40 years of inflation, 1.7. You know he's talking about buying power. So obviously, you know, $3 million in 40 years from now is going to be worth a whole lot less. But you know it's still going to buy whatever it buys, right?

Absolutely. Yeah. And you know, it's. When you think about inflation, think about what you paid for a chocolate bar in a can of pop or soda when you were just knee high to a grasshopper, versus what you pay for it now.

If you have a policy that's increasing in value, that is beating the Pants off of inflation. How much capital do you want residing there? What's the alternative? You see my pool of financial value and all of our clients pools of financial value continue growing uninterrupted even when they're spending money. And so just by virtue of that, we're beating the pants off of inflation. When people are storing money inside of tax qualified plans or inside of savings accounts, the only way they can get to it is reducing the asset base. They have to reduce the asset base by withdrawing the money. So regardless of what's happening with inflation, you're already eroding the asset base because the next time you go back there, there's less money than there was the last time. Whereas inside of your system there's more money because it never stop going up in value. So it becomes a choice. I know that money must reside somewhere. So what better place to have it reside than here?

Absolutely. Awesome. Jason, this question is from Jovian. I want to say Jovian. Yeah, hi. How long do I have to have a. Have your pol. How long do I have to have my policy in place before I can borrow from it? Immediately. As soon as the policy is in force, as soon as we set it up, we can immediately access funds.

Is that right?

That's right.

Awesome.

Sean, I love this. This is great. Do you think this should be the core of your financial plan? I have this argument with financial advisors about it all the time. Says they say you should max out your RRSPs first. I say this insurance strategy covers all basis.

Well, again this is not an either or. So should I become my own banker or should I max out my RRSPs? It's an as well as. So become your own banker as well as all the other things that you decide you want to utilize money for, whether that's investing, RSPs, whatever suits your fancy as part of your overall financial plan. You know, we're, we're not going to say that. You know, think about this. If the only tool that you have is a hammer, every problem begins to look like a nail. And so we're describing a process that goes on no matter what. So regardless of what happens with interest rates, regardless of what happens in the economy, regardless of what happens with real estate, bitcoin, gold, silver.

Whatever that may be, the process of banking goes on no matter what. What needs to be clear is that if you're not controlling any of the banking function as it relates to your needs, then you have an opportunity. And so provided a person understands the problem, the solution becomes clear. What I'm Hearing based on what you just described, Vern, is that the conversation is product focused. Should I buy this product or that product? If so, how much should I purchase put into this product, and how much should I put into that product? We're talking about a process. And so if you know that someone has to control the banking function as it relates to your needs, how much of that function do you want to control? That's the question, and the answer is obvious. You should take control of all of it.

And that's really the piece that most advisors aren't talking about. Isn't that right, Jason?

Oh, gosh.

And we have so many great colleagues in the profession, and I respect the good work that they do and that they want to serve other people. And that's all great. But the fact of the matter is this, most people, most people in this, what's called the financial services industry, have rudimentary understanding at best of the tool, let alone the process. And so if we have colleagues in the industry who are with us this evening, first of all, thank you for being here. You know, there's no such thing as having arrived in knowledge. There's always something new to learn. And my hope is, is that you learn something new this evening. And if you feel drawn to the message and you feel compelled to discover more, then get your hands on a copy of Nelson's book and continue your journey of learning. Your clients will thank you for it. Because once you understand the problem, the solution becomes clear and you implement this in your own life, you'll be shouting this from the rooftops to your clients and the conversations will become more process focused and not product focused. Anybody can sell a product.

Jason.

We still have north of 100 participants on the call.

I know.

Isn't that good? That's awesome. It's awesome.

We must be doing something right.

This fills my energy tank. This fascinates me, brings me energy. Keep them coming. Let's go.

Yeah, you bet. Randy says, how are advisors and coaches compensated?

Well, we're paid in Canadian currency, and we're compensated very well for what we do. The insurance companies themselves, they have a budgeted pool of dollars that they use to take care of operating expenses, and that includes remunerating an advisor who places a policy. And so our clients, they don't receive any extra invoices or fees for service or anything like that. We're paid extremely well for what we do. We're blessed beyond the definition of good fortune.

Absolutely.

You know what's interesting? It's a great question, right? Because if you're getting the value that you want. Imagine that. Let's go back to the grocery store. When's the last time you had a craving for something? You rushed to the grocery store. They had ample stock of what you were craving.

I know where you're going with this.

And you went up to the cash register and you said, listen, before I buy this, I want to know, how do you get paid? How do you get compensated? Well, if you're getting what you want, you're getting the value that you want, why does it matter? It's a relevant question. I thank you for asking it. But in good humor. When's the last time you attended any other business and asked that question? It's very interesting that that that comes up from time to time.

Yeah, that's really great. I'm definitely going to steal that one, Jason. Thank you. Dave says I have term. Excuse me? I have term policy. 20 years. How will that work? Can I borrow against this policy?

No.

When you have a term life insurance policy, you're renting a death benefit. It's the most expensive insurance you can own because as you're aging, the cost of that premium keeps going up because you keep getting closer to your projected death day.

And that day will come. Everyone on the webinar has a best before date.

We just don't know what that is.

And so it's interesting that less than 2% of term policies ever pay out a death benefit. And so that creates an enormous pool of money for the insurance company to multiply. And the sole beneficiaries of the multiplication of that money are the participating dividend paying policy owners. No one else benefits from that. And so ask yourself this question. Would you rather want to rent a benefit or own it?

Great question to ask this question. This is actually a good question to build off that last one. This is from Phyllis. She says, why is it important which company a person uses or how the policy is designed?

Oh, gosh, that's beyond the scope of this webinar. I would encourage Phyllis to have a conversation with a coach about that.

Absolutely. And this comes from Moses. He says, when can we schedule a personal meeting this evening?

So, Moses, you would have received a link. It would have been emailed to you and even text messaged to you. And so make sure you got that link and you just click on it. And then all of the availability of dates and times shows up for you and you get to choose the date and time that's most convenient for you.

So Abdul says, why IUL cannot be used due to high performance markets in present era. And he just, he goes on to say that he follows somebody else who promotes IUL for personal banking. So why can't we use IUL for banking?

Jason well, first and foremost, an indexed universal life policy is like having term insurance with a slot machine attached to it. And so we're not describing a function of investment. We're talking about 100% of the risk being with the insurance company and not the policy owner. And we're talking about.

Universal life being a product of Harvard MBA thinking and Wall street. And there's risk and investment associated with it. There's no dividends, no co ownership of the business. And Nelson Nash said it perfectly in his book Becoming youg Own Banker, he said, I've never illustrated a universal life contract, I've never purchased one and I've never sold one, and I would never recommend it for the implementation of becoming your own banker. In fact, the authorized infinite banking practitioners sign an agreement with the Nelson Nash Institute that they will only utilize dividend paying, participating whole life insurance contracts to implement this process.

Now, Universal Life Index, Universal Life, variable life, whatever that is. Every financial product, it's not about the product being good or bad, it just is. It has its own set of characteristics in terms of liquidity, tax consequences, risk, the guarantees or the absence of guarantees, control or the absence of control. It's just important to understand that that's not the best tool for the job. It's a tool that can be used for something, but it's not the best tool for this job.

This is from.

Therese. My understanding is that you buy policies, let's say you buy $5,000 policy, then you need to, it says, now this is interesting. It says you buy a $5,000 policy and then you need to buy this $5,000 policy each year. What happens if you can't commit yearly? I think they must be referring just to the premium but not actually buying new policies.

But yeah, and like I explained earlier, there are so many flexible options there. If you run into financial difficulty or you just don't have the money to pay the premium, that, that happens. Right. Unforeseen events in life. And so we, we make sure that we build in the maximum flexibility into that contract so that there's always an option to maintain it.

Awesome. And we're obviously, Jason, we're also going to work with the client to make sure that, you know, wherever they start at, is it going to be a sustainable amount. They've either got some capital built up or they're able to continue to sustain those premiums. We don't want to buy more than we can chew.

Yeah, yeah, that's absolutely. That's a great point to share, Vern.

Thank you.

Amanda's is back. And this is actually a pretty good question. My other question is Canadian insurance companies are direct recognition or non direct recognition.

Oh boy. They must have been speaking to someone who.

Yeah, they went deep.

And so all that that means in layman's terms is that if you have a policy loan balance outstanding, does the insurance company recognize that loan balance when they're determining the dividend that's paid on your policy? In other words, do you get penalized by a reduced dividend because you have a loan outstanding? The carriers that we work with. The answer is no. Policy loans are not recognized when it comes to determining that specific policy in terms of payment of a dividend. Dividends are declared based on the contribution principle. What is that policy's contribution to the net earnings of the insurance company?

Awesome. This is an interesting question here. Joanne says, if I hold a life license, can I still become a practitioner?

Well, you need to have a life license in order to be even considered for your candidacy for the authorized Infinite Banking Practitioner program. I would encourage you to get in touch with the Nelson Nash Institute and speak with someone there and they can answer any questions that you have about the program.

Great. Steve says lots of admin charges with 48 policies. Better to consolidate.

No.

I've got again multiple lives insured, as I showed everybody in that photograph of my family. And I have many people insured in the many businesses that I have direct ownership interest in. That's part of. If I go into business with anyone, whether I'm putting up capital, expertise, or both, one of my non negotiables is I have to be able to ensure that person's life. And so.

Having multiple policies as part of your program. If I would just. Just share an analogy with you. Isn't it interesting that when a branch of a bank in a community is doing really well, what typically happens?

They open up more branches.

Open up more branches. So isn't that interesting? And so we have many branches in the low family banking system.

That's awesome. This question comes from Christian says, with the value of cash diminishing worldwide, what happens to the value of the policies and the possibility of a cashless system being implemented worldwide scale? Will this system or this process still work?

Absolutely. The insurance carriers, at least the ones that we work with, they don't maintain.

You know, they don't have vaults with Cash on hand, all of that money is being put to work, intangible assets. And so if currency changes, the medium of exchange changes, whatever that may be, then that tangible value is still there. And remember, the policy is a unilateral binding contract. So the insurance company assumes 100% of the risk to fulfill those legally binding contractual guarantees. And so, you know, it's important for us to focus on what we can control. And in this particular case, our money must reside somewhere. And so I'm not concerned at all if we move to a cashless society. The insurance company is not hoarding cash anyway, so that's not a concern to a participating policy owner.

Question from Keith. He says, from all videos I've seen, there's a certain high net worth, high income. Can you talk about lower net worth incomes?

Oh, gosh. We have clients that put in as little as $100 a month into policies. We have clients that put in six figures a month into policies. And so if you're somewhere in between those two numbers, we can help you. You don't have to be rich to do this. Perfect.

And this is just answered this next question from Joanne. Does this work with set funds? I'm assuming, you know, fixed income, that kind of thing. Does this work? So the answer would be yes.

Yep.

Henry says, do you only recommend using the whole life and not universal life? Are there risks to the insurance company if you do whole life or if you use the funds? Not 100% sure what that question means, but yeah.

Again, I guess all that I would say is that to solve this problem, which is to take control of the banking function as it relates to your needs. Universal life is not a tool to get the job done. Dividend paying, participating whole life contracts are the only tool to get this job done. If there was another tool, I would have talked about it on the webinar.

Yeah, it's interesting. There's a lot of. I don't know, the Universal Life is really popular tonight for some reason.

Josephina says.

It'S because we have a lot of life license advisors who sell that stuff. And that's where those questions are coming from. That's something that may apply in whatever circumstance they're discussing with their clients. It's not relevant here.

Kimberly says, what's the benefit of having multiple policies? Why need. Excuse me, why not just increase your payments in one?

Because you can't. Once the policy is created, that's the maximum premium that can go in on an annual basis to maintain the tax exempt status of the policy.

Brandon, assuming I have this right. You pay in and withdraw. Do you always withdraw less than you put in? If not, how does the CRA treat tax? If you withdraw more than what you've put in, premiums paid minus dividends, you're not withdrawing.

So we have to get our termination. Our terminology correct. We're not withdrawing anything. We're using the cash as the collateral, and we're borrowing against it. So there are no withdrawals happening here.

Pamela says, can you just make a monthly amount without a large initial deposit?

Yes. Yeah, you can deposit premium on a monthly basis or on an annual basis. You can change that frequency. So you're the one that maintains control over that.

Zahid says, I am a new immigrant to Canada with no assets yet in this country. Country. Will all slash. Any of this still apply to me?

It will eventually. And, you know, let me be one of the first to welcome you to Canada.

Welcome.

Pamela says, are more people interested in this opportunity based on what's going on with COVID or are they investing less?

Oh, boy. We're busier than we've ever been. And so the, you know, the media does a really good job at, you.

Know, keeping people in a constant state of anxiety and fear and the unknown and uncertainty. And the prospective clients that we're speaking to every single day, they're saving a lot of money. Canadians socked away over $150 billion last year. They're not commuting. They're not going to Starbucks every day. They're not taking those vacations. They're not going out to restaurants. And so they're taking this surplus capital and they're storing it in someone else's bank. And so, you know, we're busier than we've ever been. We had no idea what the impact of COVID was going to be when it first got serious. You know, I met with my team, Vern. You can attest to this. And I said, listen, as a leader in this organization, I do not know how serious this is going to get, but it is going to be serious. And we have two choices. We can advance or we can retreat, but we can't do both. Pick one now. And everyone on our team chose to advance. And I said, well, you know what? As the leader, I'm going to eat last. Not one person on our team is going to lose their job on my watch, not one pantry is going to go empty. Not one dinner table is going to have empty plates on it. We are going to make this work, and we are going to stick together as a team. And our business skyrocketed. And so we're extremely grateful for that.

This is. I just find this really interesting. Mike says if I can convince my employer to pay part all my premium, does my policy does. Excuse me, part. Or all my premium from my compensation, would that be applicable? Do the premiums have to flow through my bank account?

Yeah, they have to flow through your bank account? Yeah. Your employer could not pay your premium for you?

Not directly.

Right?

No. Okay, awesome.

Great.

Jason, we still have some more questions here, so I guess people can take advantage of the opportunity to connect with one of our awesome team members, and we'll happily support them.

Absolutely. And again, I'm just absolutely amazed we still have 77 people on our webinar with us here this evening. Thank you all so much. We appreciate you. We appreciate your questions. We'll make sure that. Because we have. Obviously, we've captured all of this Q and A. And so the right person on my team is going to connect with you to make sure that your questions get answered. If you don't create a time to meet, you can still expect to hear from that advisor just to make sure that your questions get answered. So thanks so much, everybody. Stay healthy, and we look forward to connecting with you here real soon.