Becoming Your Own Banker in Canada | For REAL (No BS)

Welcome everyone to tonight's webinar on introducing the process of becoming your own banker, the infinite banking concept. I'm your host, Jason Lowe, and I am ascended Financial CEO. Very proud, very excited to be here with all of you this evening and really appreciate you joining us. Now, one of the things that I'd like to share with all of you is as we get underway with the webinar, just a couple of quick things. Throughout the webinar you're likely going to have questions and that's fantastic. Questions are excellent and I would encourage you to just type your questions into the Q and A window and we will have a Q and A period at the end of the webinar so that we can walk through those questions and address them for the benefit of everyone in the group. Now, real quick, if I could just get some participation in the chat window, if you can let me know that my audio and video are coming through. Okay, I would very much appreciate that.

All right. Awesome. Excellent. Well, we had 195 people enroll for the webinar, so we have a large number of people still signing on, but respecting the use of your time. You showed up early and we appreciate that. R. Nelson Nash, the developer, the pioneer, the founder of the process of becoming your own banker, the infinite banking concept, he said what a peaceful, stress free way of life it is when you get the banks out of your life. Now, I can tell you from firsthand experience, you've been told by other people to put money away in things like retirement accounts, mutual funds, stocks, gold, silver. You've put your money in prison and then you go to someone else's bank when you need access to more money. It's really, it's absurd. And it doesn't have to be that way. I'm telling you that if you've been handing control of your money over to someone else who thinks they can do better with it than you can, you may not be in the best situation right now. It's not your fault. These things that people do are things that they've been conditioned to do. You've all had somebody who's influenced how you've handled money throughout the course of your lifetime, whether it's a mentor, colleague, a friend, a sibling, your parents, your grandparents, all the above. You've been taught to handle money a certain way, and you've been taught and conditioned to do things a certain way financially. And we're going to show you a different way to achieve the financial objectives that you have throughout the course of your lifetime where not going to change the objectives, we're just going to change the process and how you go about achieving them. Now, a quick word about commitment. The first thing I'd love to do, of course, is applaud all of you for being here. You could have been doing something else with your time. You're so committed to discovering the process of becoming your own banker. You're committed to radically improving anything that you're already doing financially, that you are giving up other things that you could have been doing this evening to spend your time here with us. I want to applaud you and thank you for that commitment. Now, I always love to open up my talks by sharing that I discovered the path to a peaceful, stress free financial life as Nelson described. I discovered that path the hard way. And I just want to share with everybody that, that.

I'll just start with this.

I remember, oh gosh, this was of course, many years ago, but I remember standing in a dark, empty living room and I was staring out at a sold sign on my front lawn. And this was in Westboro, in Sherwood Park, Alberta. I'll never forget this. And I was feeling like a failure. I was feeling stressed and defeated.

I never would 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 very ambitious about my future. And up to that point in my life, I was doing all the things right according to mainstream financial advice. Now, you've all been there, you've all experienced mainstream financial advice.

And.

Over the course of the next few years, life decided to hand me several big challenges all at one time. My first marriage was over. I was deeply in debt. In fact, I was on the brink of being ruined, literally financially. And I endured the unexpected passing of both my mom and my dad. Some of the most stressful events that you can experience over a 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. And just when I felt like I hit rock bottom, I remembered something that my late father used to say. Often he would say, son, don't ever be found guilty of giving up on yourself. I made the decision in that moment to take control of my Life. And in 2008 I was contacted by a friend. And Matt at that time was a very successful and established business owner. And he invited me to attend a conference. And the topic was what I later learned to be the process of becoming your own banker. The infinite banking concept. I didn't have the money to go, but I determined to find answers. I decided to do whatever it took to get there. I took action. I left that conference believing that everyone should discover this process. I began to implement the process in my own life and everything changed for the better. Today I'm remarried to my beautiful wife Rebecca. We have four beautiful young children. I no longer feel stressed financially. My family and I are in total and absolute control of our money. We're no longer worried about the ups and downs of stock markets, the government, the economy. 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 the government, not a temperamental stock market. In the next hour, I'm going to take the past 12 years of time, money and energy that I spent in becoming an expert at this process to show you exactly how I've helped thousands of people just like you to build your peaceful, stress free financial life. Does that sound good? Let me get a heck yeah in the chat window. Let me know if you think that sounds good.

All right, let me just share my screen here once again. There we go. All right. Now, we know that most people believe that they need someone else to take care of their money.

We know that most people believe that it's necessary to risk their money in order to grow it. And most people know next to nothing about the process of banking and its importance in their lives and their well being. 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 in prison and rely upon someone else to achieve the financial abundance that you deserve today. And you don't have to be rich to become your own banker. You're going to discover that this evening. Now, who is this process for? I want to share with you that anything that you're doing financially already is radically improved when you introduce the process of becoming your own banker. And so whether you're an entrepreneur, whether you're a business owner, who's making money, whether you're an investor, a high income earner, inexperienced, experienced in retirement planning for retirement, if you're a family, an individual, someone in debt, and you're looking at recapturing the interest that you're presently paying to banks and to finance companies for all the things that you need throughout your lifetime, then this process is for you. Becoming your own banker is not a product. Becoming your own banker is a process. And so whatever it is that you're already doing financially, when you introduce this process of becoming your own banker, anything that you're already doing is radically improved. Now I want to share a little bit about how the concept itself got started. R. Nelson Nash, who developed the process back in the early 1980s, he found himself in a real predicament. He found himself owing a half a million dollars to commercial banks for real estate that he had purchased. Now, all the financial entertainers, all the gurus that were talking to him about utilizing other people's money to go out and purchase real estate, you can't go wrong. Real estate always goes up in value. Nobody told Nelson what would happen if the interest rate lever went the other way. And interest rates peaked at 21.5% in the early 1980s. And so Nelson was in a really, really bad situation. And so naturally people would think, well, why don't you just sell the real estate? And he thought, what fool would buy this real estate from me knowing that they would have to borrow money from someone else's bank at such a high rate of interest? He didn't realize that the solution to the problem was right in front of him. Because up until that point in his lifetime, he was conditioned to think a certain way about money, about banks, about life insurance companies. He didn't know that the solution to the problem that he was in was literally standing right in front of him. It took him and his wife Mary 13 years to get themselves out of that financial mess. They got rid of the snakes and dragons, as Nelson used to refer to them as. And after that point in time in their lives, they did not see a commercial bank for anything other than the convenience of debit for the remainder of their lifetimes. Nelson, sadly, we lost him last year. He was in his 89th year and he passed away. And up to that point in his lifetime, he was able to get rid of the commercial banks. He was able to take control of the banking function as it related to his and his wife Mary and his family's needs. There were no loans in the family, mortgages, no third party lenders. All of the money flowed through their family banking system and more importantly, stayed in the family. Now everyone needs a heart, would you agree? Now, the reason I'm utilizing this analogy is because at a point in Nelson's life, he found himself having to undergo bypass surgery and, and have his heart replumbed in four different places. Now, while he was in surgery, he was connected to a heart and lung machine. And he said, you know, obviously I don't remember the experience because I was put under for the surgery. But he says, what I do know is that while I was alive, I was only living, wasn't living. Rather I was only existing. So I wasn't truly living in that moment. I was only merely existing. And the reason this analogy is so important is because banking is the most important business in the world. And the banking system pumps money to where it's needed. And at some point it flows through your hands and mine, right? And where does it all end up? It ends up right back in the banking system. The issue here is how much of the banking function do you control and as it relates to your needs? We also like to share what Nelson taught us about there's only one pool of money in the world. It's inconsequential that, you know, there's many different banks, there's many different currencies, there's only one pool of money on the planet. And money flows from that pool through our hands to meet our needs. But somewhere in the process, it all ends up right back in the banking system. So remember, there's only one pool of money in the world. There's only one banking system. And what Nelson saw is that he was pumping money into the pool the wrong way. He had to go through bankers, toll takers, 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 is he had to crank up large life insurance premiums inside of dividend paying, participating whole life policies. And he recognized that he couldn't accomplish that overnight. Everyone thought that he was crazy, right? Everybody knows that whole life insurance is a lousy place to put money. I mean, let me know what your thoughts are after tonight's webinar, if you would agree or disagree with that. Now, his own wife Mary thought he was nuts as well. You have to get this done incrementally over a period of time. Now just imagine yourself in that predicament that Nelson was in. You owe a half a million dollars to someone else's bank. You're not controlling that repayment schedule. Interest rates peaked at 21.5%. And you thought to yourself, how on earth am I going to get myself out of this situation? Nelson was able to access policy loans from the life insurance companies because he already amassed a system of insurance contracts on his own life. And the lives of others and his family up to that point. And he was able to access policy loans from the insurance company at 8%, pay off the snakes and dragons at 21 and a half. All the money still growing inside of his own system the entire time, uninterrupted by the policy loans. And heaven forbid, if he passed away at any point along the way, not only does he wipe out the remaining loans owing on the real estate, he clears the policy loans and his family still owns all the assets that the loan money was used to buy. And so this is all about the way that we think, and it's all about understanding that. There are four characters in the financial play fundamental to understand these four characters. The first is the depositor, the second is the borrower, the third is the banker, and the fourth is the bank owner. Now, for most people that we meet, they're only two of the four characters in the financial play. They're the depositor and. And the borrower, but they're not the banker and they're not the bank owner. Something that's so fundamental to understand is the golden rule. And that's people have abdicated their opportunity and more importantly, their responsibility as it pertains to the banking function in the economy. We're in the biggest financial mess that we've ever been in on the planet. And the root cause is the central banks. The banking function should be held at the you and me level. That's where it should be held. Now, people are depending on someone else to perform that job in their lives. And that character in the play is the one who's making the most money, and rightly so. And that's because of the golden rule. Those who have the gold make all the rules. Now, the person on the street in Canada today understands the subject so poorly that he's doing the equivalent of living off of a heart and lung machine. It's absurd. Now, what I want to talk to you about is how to create a system in which you can control everything about the banking equation as it relates to your needs. Does that sound good? Let me get a heck yeah in the chat window.

All right, Sounds good. Everybody's still with me. Love it. This is supposed to be fun. You can have a little fun while you're learning. Now, this book titled Becoming youg Own Banker. This is the book that changed everything for me and the thousands of people that I've helped and that my teammates have helped over these past 13 years. Over 400,000 copies of this book have sold, likely for a good reason. Now, one Reading of the book, of course, just isn't going to do the job. It's a 92 page read. You get through it in less than an afternoon. Now you're going to receive a link. It's either going to be text messaged or emailed to you, and it's going to be a link directly to our bookstore. Purchase your copy of Nelson's book. Because if at any point during the webinar you find yourself thinking, hey, this is something that I'm really enjoying learning about, I'd love to understand more about the process and how it can impact me and my family or my business. Go ahead and get your copy of the book. We sell it for less. We'll ship it anywhere in Canada. And if you like what you read, that's great. It's only going to expand your awareness and knowledge of the process. And if you don't, as long as you leave happy, that's okay too. All right, now, the very first principle that must be understood in this process is that you finance everything that you buy. So every decision that you make with money is a financing decision, meaning you either pay interest to access someone else's pile of money or, or you give up the interest that you could have earned otherwise. There's no escaping that. People tell us all the time, hey, we don't have any debt, we pay cash for everything. But they don't recognize and they don't reckon with the lost opportunity cost. So if you're not accustomed to financing something by taking out a loan or leasing something, and you're more accustomed to paying cash for things, you're permanently giving up the opportunity to earn interest on that spent money for not only for your life, but for every generation that comes after you. So many people pay lip service to lost opportunity costs, but there are very few people that actually reckon with it. So again, it's so important to understand that you either pay interest to access someone else's pile of money or you give up the interest that your money could have earned otherwise. When you pay cash for things, the whole essence of the process of becoming your own banker is to recapture the interest and that you're paying to banks, to finance companies for all the major items that you need throughout your lifetime and to have that money flowing back to your family versus flowing away from your family. The objective is to keep the money in the family. Now, a fundamental truth is that your money must reside somewhere. The question is, how much of the banking function do you control as it relates to your needs? Someone must perform that function in your life and it should be you. This process is not an either or. So I just want to really emphasize that this is not an either or, meaning I'm going to become my own banker, or I'm going to invest money in real estate, I'm going to become my own banker, or I'm going to go and purchase some stocks or bonds or mutual funds. I'm going to become my own banker, or I'm going to buy gold silver or purchase a business or buy the cottage on the lake. This is an as well as the process of becoming your own banker has nothing to do with 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. We hear so much noise out there where people are comparing. We get into comparison mode. I'm going to put my money here or I'm going to become my own banker. This is all about the process. And regardless of what's happening in the economy, regardless of what's happening with interest rates, regardless of what's happening with any form of investment, the process of banking goes on no matter what. And you cannot achieve a better rate of return doing anything if you're not controlling the banking function as it relates to that need. So that's something that's very important to understand. Now, I want to introduce the concept of getting into the grocery store business. Now, like I say, in most talks, you're likely thinking to yourself, what on earth is Jason talking about as it relates to the grocery store business? I thought I was here to learn about becoming my own banker. Bear with me and I think you'll catch on as we go here. So getting into the grocery store business, we're going to consider a business in which you are both the consumer and as well as the seller of a product. Now think about this. Every human being needs to eat no different than every human being needs the use of bunny. We're going to understand that our market is unlimited. Everyone uses groceries. Everyone uses money. Someone has to perform the function of distribution. So as it relates to food, someone has to perform that function. When you go to the grocery store, you expect it to be stocked with everything that you need. Otherwise you wouldn't shop there for very much longer. It's no different in the banking business. Someone has to perform that function as it relates to your needs. Now, we're going to study the business for two years. You're here this evening to study becoming your own banker. We're going to purchase a superior location. We're going to build an attractive building. We're going to stock it with high quality merchandise. Now, up to this point, how much money have we made in our grocery store business? Can somebody just type in the chat window?

Let me know up to this point how much money we've made in our business. Now, we had to capitalize it right, we had to put money in, we had to get the building, hire the team, stock it with inventory, and up to that point we've made absolutely no money in the business. Now we know that in order for our business to be successful, we must turn the inventory at least 15 times just to break even. Think about the grocery store for a moment. If the bread isn't being sold, the milk, the butter, the eggs, what happens to all that food? It goes rotten and you can't make anything off of it. You have to throw it away. Well, what happens in the banking business if money sits still?

The banking business dies. Money must be in constant motion, otherwise it isn't worth anything. Now we know that if we turn the inventory over 17 times, we'll be profitable. If we can do it 20 times a year, we can retire early. Think about this as it relates to the banking business. Now, I want to use this analogy of a can of peas. There are very few people, very few people who understand that the profit margins in the grocery store business are very, very small. And so let's use a can of peas as an example. Let's presume that we get the canopies. It arrives at the back door, into the stock room, it gets stocked on the shelf. And we know that we're going to retail that canopies out the front door for 60 cents. Now, we purchased it wholesale for 57 cents. So we're making three pennies for every can of peas that we sell. Now imagine for a moment that because you're the owner of the grocery store that you don't pay 60 cents for the canopies. You put 62 cents into the cash register. What can your business do with that extra two pennies? You can purchase more cans of peas so that you have more money available to purchase more inventory, to sell that inventory to more captive customers. So important to understand this as it relates to the banking business. Now, let me ask you this question. We're going to do a bit of a poll with the group here. Because you're the grocery store owner.

And you know that you have the option where you can go through the front door and pay retail, or you can take the food that you need and Go out the back door and pay nothing. Now, you're the owner of the store, you call the shots. So I'd like to hear read in the chat window. Let me know if you would go out the front door or the back door. Okay, so Alberto, you say back door. Kim, front door. Vicki, front door. Mark, front door.

Roberto, front door. Okay. The majority of the answers are front door. Now, we do have some people who say, hey, you know what, I would just go out the back door with the food that I need. Now if we think about this can of peas. If we took a 57 cent peasant can of peas and walked out the back door knowing that we could have sold it for 60, how many cans of peas do we have to sell just to make up for the one can that we took out the back door? We have to sell 20 just to make up for the one can that we took out the back door. That is a surefire way to drive your business into the ground in a real hurry. And if your employees see you doing that, what are they going to do? They're going to think it's okay and they're going to start taking food out the back door as well. Now, if you think about this as it relates to the banking business, if you create this system in your family or your company and you're accessing policy loans and you're not repaying those policy loans, that's a polite description of theft. That's the equivalent of you walking out the back door versus going through the front door. Now, when you take out a policy loan from the insurance company and the insurance company calls for 6% simple interest on that policy loan and you repay it at 10% simple interest, that's the equivalent of putting 62 cents into the cash register versus putting 60 cents in. You make more capital available so that the insurance company can multiply that capital for the benefit of you and for everyone else who shops your business. Now, Nelson asked a very powerful question in his book and that question is on page, I believe, 25. Let me just flip to that right now. He asks a very powerful question on page 25 of his book, becoming your own banker. Would you have much of a grocery business if you were the only customer? You must build it to the point where you accommodate the needs of others in order to prosper. That the same principle applies to banking. Furthermore, I'm not describing one life insurance policy. This is to be a system of policies. Have you not noticed that when a grocery store becomes successful in one location, then it tends to establish Another store in another location. Have you not noticed that banks have branch offices? There must be a reason for their behavior. So as you build a system of policies in your family or your business, it's important for you to demonstrate how to be a responsible business owner so that your family or your employees understand how to be responsible with the system as well. Isn't that good? It's a really neat analogy. Now, Nelson went on to say that the process of becoming your own banker is ridiculously simple and it does not need to be sensationalized. If you understand the grocery store example, the rest of the process of becoming your own banker is ridiculously simple. If you struggle with the grocery store example, then understanding becoming your own banker is also going to be difficult. So if you find yourself at any point struggling with the concept and the process, take yourself back to the grocery store example. And you can find that right in R. Nelson Nash's book, Becoming youg Own Banker. And so again, as we go through the webinars, you find yourself thinking, hey, this is really interesting. I want to discover more. I want to read the book that was authored by the developer of this process. Just ease on over to the link that's already been messaged to you, either via text or via email, and pick up your copy right away. Now, it's important for us to frame up the problem because Nelson would always say that if you don't understand the problem, the solution just won't matter to you. And that was so true. So let's frame up the problem. Who's the banker in your life today? For everyone that we meet who's first introduced to this process, that person is not you. Someone else is performing that function in your life. Now, we know that whenever a transaction takes place, money has to flow from one party to another in a relatively short time frame. Otherwise, nothing happens. You have the bank, you have you as the buyer, you've got money as the medium of exchange. So you take the money out of the banking system, you purchase whatever it was that you were wanting to buy, the seller takes that money and puts it right back into the banking system. So you achieved your objective by purchasing what you needed, but someone else got all your money. That's a problem. The essence of what the banking business is all about is that someone or some organization has control over a pool of money that can and must flow at a cost to meet some need. That money comes out of the system and ends up right back in someone else's bank. I say that again, someone else's bank. Now as it relates to you, you earn an income, whether it's T4 income, dividends, interest income, Regardless of the source, your bank sees it before you do. Think about that for a moment. When you receive money, most often it's directly deposited into your checking account at the bank. So the bank sees that money before you do it gets deposited. It sits there waiting for you to pay your bills. Now, we know that money that sits still isn't worth anything. And so those deposits to a commercial bank are a liability. They have to get that money moving in order to produce and live up to the expectation that the stockholders have of profit. And so your money lands in someone else's bank. You pay your bills, so you begin the process of transferring all that money away from you, your family, your business, every generation that comes after you. You take care of goods and services, you pay all your bills, and that money just ends up right back in someone else's bank. This all results in a constant and permanent transfer of money away from you. That's a problem, right? Let me know if you're with me. Type into the chat window if you understand that that's a problem.

All right. Yes. Thank you for the engagement. Oscar says yes. Mark says yes. Annalise says yes. It's a problem. Yes, you got it. You can do something about it. But here's the deal. You're doing all the work, and everyone else is getting all your money. How does that make you feel? Type into the chat window and let me know how that makes you feel. Now, I want you to understand that there are. It's so important when people think about how they utilize money. So let's think of an example where somebody's deciding to purchase.

A piece of equipment for their business. Now, they have an option where they can borrow the money. Let's say they can access someone else's pile of money to achieve that objective. Well, they begin now, the zero line is where they started. And then underneath that zero line, let's say it was a $20,000 purchase. They start in debt, and then they're making payments. So every payment that they're making, you see this staircase riding back up to zero. Every payment that they make is a deposit into someone else's bank. They started at zero, and where did they end up? Right back at zero. They repeat that cycle over and over and over again throughout the course of their lifetime because that's what they've been taught to do. And the payment that they're making back to someone else's bank is comprised of Principal and interest. Now, that person can see the interest because it's clearly part of the payment schedule. Now the saver also starts at zero, begins storing money in someone else's bank, and then has to withdraw that money ends up right back down at zero. Achieves the very same objective. To buy that piece of equipment for their business. Every dollar that they spent on that item is a dollar that can never earn interest for them again. They don't see the interest that they're giving up the opportunity to earn. People focus on the interest that they pay. What they lose sight of or have no visibility to whatsoever is all the interest that they're giving up the opportunity to earn, not just for themselves, but for every generation that comes after them. Both of these methods are a permanent transfer of money away from you. Every payment that you make is a deposit into someone else's bank. And when you're saving money, you're also making payments. So here's the solution. The process of becoming your own banker. The infinite banking concept. Now, I go back to the fundamental understanding that your money must reside somewhere. Now, let's go through a fun thought experiment, because so many people misunderstand this to be a function of investing, and this has absolutely nothing to do with investing. But let's go through a fun thought experiment. If you could invent a type of asset from scratch that had absolutely no drawbacks whatsoever, what would it look like? So tell me what the attributes of that perfect asset, the perfect investment, what would it look like? I'll get the thought experiment going. I'll say it must have a high rate of return. What else would it look like? Go ahead and type it in. Okay, so Sarblo says safe. Lloyd Brown says zero interest. Nancy says tax free.

Kate says started with other people's money. Sorba. I hope I pronounced that. Soroba. No tax. Sean, no money is there the day after I put it in. Kim tax free. Hatim tax free. Pravin creditor protection. Steve Wenzel, guaranteed rate of return. Alberto must have benefit. Meg says it must be accessible. Milad. Hey, Milad, it's great to have you on. He says protected. Janet Dixon, no maintenance cost. Roberto no loss. Okay, thank you everybody. It's so awesome for your engagement. Now, I've gone ahead and shared all of the characteristics that we've heard from people over the most frequent. High rate of return, consistent rate of return, conservative liquid guaranteed tax benefits. Some of these look familiar, right? No market volatility yields income besides capital gain. Creditor protected inflation, protected control, transferable, easy to manage no hidden fees or penalties. Reputable and private. Now for your own various assets, I'd ask you to simply identify which of the features from that list that I showed you do your assets do well on and which of the features do they fail to satisfy? Going back to the list for a moment, if you just take a look at all of your own assets, just take a look at what features do they do well on and what features do they fail to satisfy? Now I'll share with you a big surprise. This list of attributes describes a dividend paying whole life policy.

Now I'm glad you're or hope that you're sitting down when I shared that because for most people it's a shock, it's a surprise. They just simply did not know I want to share a little bit more with you about the tool that we use to implement the process of becoming your own banker. Now before I do that, I want to share with you. If we put the best tool for the job in the hands of someone who doesn't know how to use it, not only are they not going to turn out any good work with the tool, they're likely going to break the darn tool. So while it's important to understand the characteristics of this tool, it's also important to know that you should be working with someone who's thoroughly familiar with the anatomy of this tool and more importantly, how to utilize it as a platform for you to implement the process in your life. Now let's break this down. A participating dividend paying whole life insurance contract. First and foremost, it's not an investment, it's a unilateral binding contract. Participating means that you become a part owner of the life insurance company and you participate in the profits generated from every product that the company brings to the market. You've heard of different types of insurance, term insurance, critical illness, disability insurance, universal life, whole life group employment benefit programs, savings and retirement programs, to name a few. All of these products that are provided for the Canadian general public, you become a part owner of the life insurance company and so you participate in the divisible profit generated from all activity that the insurance company is engaged in. Now, to give you a bit of history in Canada, these carriers that provide dividend paying participating whole life contracts have been operating in our country for the past 173 years. Long before Revenue Canada, long before the stock markets, long before mutual funds, long before registered retirement savings plans. So when you hear the word dividend, most people think, oh, here comes Revenue Canada and that's not the case as it relates to this contract. Dividend paying means that every year that the life insurance company declares a dividend, the insurance carriers that we work with have declared and paid dividends every single year since the inception of par dividend paying whole life policies. The dividend is contractually guaranteed to be paid. It can never be repossessed and it can never lose value. And if you chunk that dividend right back into the policy to purchase paid up additions at no additional cost, you're not triggering a taxable event. Isn't that good? Whole life means that you're insured for your whole Life to age 100. The total cash value of the policy is contractually guaranteed to match the total death benefit by age 100. So that means that every single day that you're aging closer to 100, the cash value of the policy is contractually guaranteed to rise. It cannot go down, it cannot be repossessed. There's no bad economy that can take any of that accumulating value away. There's no temperamental stock market or government that can take any of that accumulating value away. Remember what I shared at the onset? Your money must reside somewhere. What better place to have it reside than here? And I'm not talking about putting all of your money into dividend paying whole life contracts and never doing anything else financially. I'm talking about storing your capital there so that you can take advantage of all the other opportunities that that will track you down. Now, we know that we don't have many financial guarantees in life anymore. Pensions are going by the wayside. There's doubt about the future. We're right in the midst still of this COVID 19 pandemic. However, dividend paying life insurance can create that peace of mind and unmatched financial security. Here's how the cash value begins accumulating from the moment that the policy is created. It's contractually guaranteed to grow every single day. It cannot go down. You have easy access to and control over a growing pool of financial value that you can use to take advantage of opportunity that will definitely track you down. You're not penalized for accessing it early like you are an RSP or other financial products. There are several tax advantages, both personally and corporately. And as an extension of our team, we have chartered accountants by trade that we engage to work closely with our prospective clients and our existing clients so that we can clearly explain what all the tax advantages are. Now, does anyone on tonight's webinar object to reducing your exposure to tax? Let Me know in the chat window.

Can anyone let me know? Okay, good. Thank goodness. Because if the answer was yes, then I would absolutely encourage you to please hop off the webinar. This would not be the place for you. Is there anyone that objects to contractually guaranteed daily growth of cash that can be utilized as collateral so that you can take advantage of all the opportunity that tracks you down throughout the course of your lifetime? Awesome. Okay, good. And it also provides a death benefit which is paid to your named beneficiaries income tax free. So be a wealth creator. Be a wealth creator for your family. Be a wealth creator for your business. Now, this green line that you see here, this is the contractually guaranteed daily growth of accumulating cash value. This red line here that you see are policy loans. So when you access a policy loan from the life insurance company, the insurance company asks you two questions. Would you like us to electronically deposit the money into your checking account or can we mail you a check? You, as the policy owner, have total and absolute control over the repayment schedule of policy loans. More importantly, your cash value continues growing in the policy uninterrupted by policy loans. There's no money leaving your policy. You're not borrowing your money. You're using your money as collateral. The insurance company places a lien on the death benefit from for the amount that you've borrowed. And your total cash value continues growing on a daily basis uninterrupted. Isn't that good? And so if you want to take advantage of an opportunity that's tracked you down, maybe there's an investment you'd like to participate in. Maybe there's property you want to purchase, vehicles, business equipment, anything that you would have otherwise paid cash for, leased or financed. When you introduce this process of becoming your own banker to achieve that objective, you'll come out that much farther ahead than anyone in your peer group who's not doing this. Creating your own system. Let's talk about first and foremost, Nelson Nash had five golden rules. And I want to emphasize these rules because they'll come into clear view here over the following slides. The first one is that we have to think long range. So what Nelson meant by that is he meant that he has to think three generations past his own. So we're not talking about thinking long range in terms of a function of investing. We're talking about thinking three generations past your own. The second golden rule is don't be afraid to capitalize your system. Your money must reside somewhere. Now, there are many different types of whole life insurance policy designs. And some of those designs will see cash value accumulate immediately and some of those designs won't. And so it's important to work with someone who's thoroughly familiar with how to design a policy so that it creates accumulating accessible cash value immediately. Now, don't steal the piece. We remember the grocery store example, right? Don't do business with banks. Every time that you borrow capital from a commercial bank, you're contributing to inflation. And fifth golden rule is to rethink your thinking again. I'll say that again, is to rethink your thinking. Now. We live in a world that demands instant gratification. There's a major problem with that. It doesn't leave you with any time to think, right? We have instant coffee, instant food, instant everything. I send a text message. I expect you to reply instantly. I send you an email, I want, you know, an instant reply. It robs you of time to think. And so when Nelson said, God rest his soul, when he said everything begins with the way that we think, I say that again. Everything begins with the way that we think. Now let's take a look at, for individuals and families. Let me just give you a quick example here. But before I do that, I just again, I want to share with everybody just how happy I am to read all of the engagement. We're getting such good engagement from everybody on the call. So thank you so much for being with us, for joining us. It's just awesome that you're here. Now one of the things that I do want to share is I want to start with here, let me just pull it up here so that everybody can see it. Bear with me for one second. I'm just going to grab that.

From my desktop here.

There we go. All right, so let me resume my share here. So this first gentleman that you see here on the screen, David Klein, has been practicing this process for many years. And when he completed the class several years ago, the question they asked me was he said, jason, can you take a look at my financial situation? Can you help me to implement this process? And here's what's happened since. So let me just resume this share.

What he highlights in his testimonial is he says, you know, two years after opening our first policy, we took out our first policy loan and paid off the bank loan on my wife Subaru, redirecting the payments from the commercial bank back to our family bank. Three years later, we took out another policy loan and skipped the bank entirely, this time using the money to buy me a brand new suv. Outright in year five, we also had another child. Took out a policy on him as well as a second policy on myself. With five policies now in force, after seven years, our mortgage came 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. We now make the payments as we did before, just to ourselves and we'll pay off the mortgage faster because of how interest is calculated. Now this is a gentleman who is experiencing a peaceful, stress free financial life. And did he follow Nelson Nash's golden rules? He absolutely did. He wasn't afraid to capitalize. He's thinking long range. He's not stealing the piece. So he's finishing the original loan schedule that he signed on for with someone else's system. He's just changing the process of who's getting the money. He is not doing business with banks and he's rethinking his thinking. That is such a powerful example from Dave. We're so happy that he shared it with us. Now, one of the most common questions that I get is, Jason, will your team take a look at my financial situation and show me how to become my own banker? The answer is yes. We have a becoming your own banker meeting designed just for that purpose. Now, what you're going to receive is you're going to receive either a text message or an email that invites you to create a discovery call. That discovery call is a 15 minute preliminary call just so that we can establish a basis to work together and determine who the best advisor on our team is in terms of suitability to coach you and to work with you and to help you implement this process in your family or your business. That call is included with your webinar. So your experience isn't complete until you schedule and complete that call. And so I would absolutely encourage you that if you've already found yourself thinking the very same thing, will you and your team take a look at my situation and show me how to do this? The answer to the question is yes. And be sure to book your call. You'll be glad you did. Now this next gentleman, Alan Antonio. I just want to share something from his experience as well. I'll just bring that up on my screen here for you. What's so amazing about Alan's story? I just highlighted some of the key things that he's been able to do with this process. Now, he's been a client of mine for many years and he goes on to say that after three years of building our policies, we already had acquired enough cash value that we could withdraw enough money from the policies to pay off the bank mortgage on our rental real estate properties 13 years early. Let me just, let me just have a pregnant pause there for everybody. Thirteen years ahead of schedule. Now, he knows that by becoming your own banker, he's not going to steal the piece. He's still making the payments that he would have otherwise made to someone else's bank back to his own system. And his family gets to re access everything that they put back in and think about a situation like Covid. Alan didn't have to worry. He didn't have to worry about not making payments if he decided to take a bit of a reprieve to make sure that his family was well looked after and that they didn't have to worry financially. During the pandemic, nobody from the insurance company is calling him and saying, hey, why aren't you sending payments in? Because Alan's the policy owner. He controls the repayment schedule of loans. We've had so many clients during COVID 19 who have reached out and said, we could literally wrap you in a bear hug and thank you for helping us put this system in place. Because during this pandemic, we know that we're okay. We don't have to worry. We know that if we need access, ready access to money, we can access a loan from the insurance company and we're not interrupting any of the daily growth of our own cash value. Now he goes on to say, that was a huge accomplishment that we were now really using IBC as it was intended. Now with our oldest daughter and son in law, they decided to purchase their first home. They were able to access a loan from her policy that we had started and also funds from our policy to buy their home as a cash deal and not have to mortgage from a traditional bank. Currently, they are making the payments back to us for the loan instead of the bank. Thus the idea of keeping the money in your family isn't that good. Now if you ask yourself, is Alan practicing this process in his family and is he following Nelson Nash's golden rules? Well, he's thinking long range because he has policies in place on many members of his family, including all of his kids and all of his grandkids. So he's thinking three generations past his own. He's not afraid to capitalize because he knows his money must reside somewhere. He is not stealing the P's so the money's flowing back to the system. He is not doing business with banks and he is rethinking his thinking isn't that good. Now let's compare how 99% of the Canadian car buying public purchase vehicles. Now, before I do that, I want you to ask yourself, if I can do this with cars, is there anything that I can't do it with? Now we know that car payments for most people never end. People spend more money financing vehicles than they ever save for retirement. Each of these methods that I'm going to share with you requires an ongoing stream of payments. A constant transfer of money away from you. What have we got? A no purchase payment plan, this is leasing. You make payments, but you don't own anything. A post purchase payment plan, this is financing. You don't own anything until you make your final payment. A pre purchase payment plan, this is where you store money. You save it inside of someone else's bank. You spend the money. So now it's all gone. You can't earn interest on it ever again. And you go and buy the vehicle. With each method above, who's getting all the money? Somebody type that into the chat window. With each one of those methods above, who is getting the money?

Banks. You got it? It's not you.

Every payment that you're making is a deposit into someone else's system. All right, now here's a couple of questions for you. How many vehicles have you and your family purchased up to this point in your lifetime? Now I'm talking about paying cash, leasing or financing. Fire away. Let's see the numbers. Okay. 3, 6. So that's 9.

Okay. 41. Wow, that's a lot of vehicles, Sid. 14. 2, 6. Okay, I'm well past 70 vehicles, so let me just stop there.

Okay? Now how many more vehicles do you think you and your family are going to purchase for the remainder of your lifetime? And let's presume for a moment, I'll just do some simple math here. I just got my iPhone. I'm going to pull up my calculator. Now, let's say we've got 70 cars. The average purchase price is, I don't know, 25,000 bucks. That's $1.75 million just on this webinar. We haven't polled everybody. That's $1.75,000,000 that has been permanently transferred away from you, from your family, and from every generation that comes after you.

That is absurd. Now, I want to share this, my own personal example if that's okay with everybody. This vehicle, which is an actual pic of the vehicle, it's a Ford Explorer. I purchased it back in 2017. Now we all have our own favorite brands of vehicles. So no boos, no thumbs down because it's a Ford. The reason I chose Ford was because Ford was the only car manufacturer that did not take advantage of any of the TARP bailout money during the financial crisis. And it shouldn't surprise you that Ford has several billion dollars of cash values inside of corporate owned dividend paying life insurance policies. Now, the purchase price for this vehicle was 55,000 bucks. And I had a few different options in terms of how I could go about buying the car. I could have paid cash. If I had saved the money inside of someone else's system, I could have financed it. If I qualified for the financing right, I would have to go through a gatekeeper, fill out a lengthy nosy credit application, have my income and employment verified and all those different things. And then if I got approved for the financing, I would have to make repayments on someone else's schedule, not mine. I could have leased it, or I could have utilized the process to achieve my objectives. So I decided to do that. Now, before I go there, I want to ask you what is the lost opportunity cost of choosing one option over the other, paying cash, leasing or financing. Here, let me just pull up a lost opportunity calculator on my screen here real quick. And so let's say purchase price, 55 grand. And I'm going to presume that I could earn 3% on money. Let's just be conservative. And I bought the car when I was 44, pardon me, 43. And so with about 47 years left of life expectancy.

The lost opportunity cost is $169,000. So this is the interest that I could have otherwise earned. And so if I would have chose to pay cash, leased it, financed it, I permanently give up the opportunity to earn interest. And this is only calculating it for the rest of my lifetime, not for the next three generations that come after me. But because I utilized the policy loan to purchase the vehicle, all of my money is still growing uninterrupted on a daily basis inside of my policy. So I get to achieve uninterrupted compounding growth on my capital. I'm driving the vehicle, which is depreciating in value every day. And I control the repayment schedule of my policy loan. Isn't that good?

Now here's the process. I capitalized my policy right. Remember the grocery store business? Purchase the location, build an attractive building, stock it with merchandise. Well, in this scenario, I'm putting premium into my system. And remember, with the grocery store example, until we opened the doors for business, we didn't earn any money. We put a lot of capital into the business. We got ready to earn money, but we didn't earn anything up to that point. Now what I did by putting premium into the policy is I followed Nelson Nash's first golden rule. Pardon me, his second golden rule, which is don't be afraid to capitalize. Your money must reside somewhere. The second element was I requested a policy loan for 55,000. I used my own cash value as collateral, so I'm not doing business with banks. That's Nelson's fourth golden rule. The insurance company placed a lien on the death benefit for the loan balance. And 100% of my own pool of financial value keeps going up every day uninterrupted. I control the repayment schedule. And so I decided to repay my policy loan at a rate of $1,066 per month for 60 months. That's more than the insurance company's calling for. So that's the equivalent of not paying 60 cents for the canopies but putting 62 cents into the cash register. I'm putting more money into the cash register of the insurance company that I co own so that the insurance company has more capital available for more customers who are looking for capital. So that's following Nelson Nash's third golden rule, which is don't steal the peas. Heaven forbid, if something happens to me, my family receives the death benefit minus the loan balance if there's one at the time and they still own the car. So that's following Nelson Nash's first golden rule, which is to think long range. Now where did the money come from to buy the car? It came from the life insurance company. Who owns the car? I do. A life insurance policy loan is not reported to Transunion. It's not reported to Equifax. It's a private loan between me and the insurance company. Who's got all the money? I do. I've got all the capital growing inside the policy. I have a death benefit that has a lien for the loan balance. The death benefit far exceeds the loan balance. What happens if I choose to stop or modify my policy loan repayments in terms of the amount or the schedule of payments? Nothing. The insurance company doesn't care because the insurance company itself is guaranteeing the collateral for the loan, which is my cash value. So I'm in a position of total and absolute control. How much of the money that I put toward policy loan repayments can I use again? All of it? I Get the car. I've got all the money and I recapture all the interest that I would have otherwise given up the opportunity to earn or transfer it away to someone else's system. If you can do this for cars, is there anything you can't do it for? That's the fifth golden rule. Rethink your thinking. Let me know in the chat window if you felt, if you felt that that example was helpful.

Let me know. All right.

Awesome. Thank you.

Excellent. Okay, good. Let's look at a few more here. Now, people think in terms of phases, right in their lifetime. So as it relates to becoming your own banker, you've got the capitalization phase, you've got the becoming your own banker phase, you've got the retirement phase, and then you've got death. And so let's talk about the retirement phase now in this example. So Nasia, she is 45 years young. Her objective was to have 39,000 in net annual retirement income from age 65 to age 90. She deposits 30,000 a year into her dividend paying participating whole life policy for 10 years. So her total into the policy is 300,000. From age 65 until age 90, she accesses 39,827 per year tax free. So the total out is 1,035,000, passes away at age 91 and leaves 586,000 to her beneficiaries, income tax free. Now ask yourself this question, is it easier to save 300,000 inside of a policy or to accumulate 1,035,000 inside of a mutual fund or an RSP? Remember the fifth golden rule. Rethink your thinking.

Now for investors and business owners. I want to jump over to Dylan, who's 45 years young, a business owner making money, and he's looking at a corporate retirement solution. His objective was to have 41,000 in net annual retirement income from age 65 to age 90. His corporation deposits $50,000 into a corporate owned dividend paying policy for 10 years. So the total in half a million bucks, the corporate tax on the daily cash value growth in the policy is zero. The passive investment income tax is zero because the policy is not captured by the passive investment income rules. From age 65 to age 90, Dylan accesses $41,005 per year after tax total out 1,066,000 passes away at age 91. The net death benefit is 806,000. And Joe, or pardon me, Dylan's death gives rise to the capital dividend account in the corporation. And the capital dividend account credit is 3.5 million. So the corporation can now pay tax free capital dividends and the corporation can get more assets out of on a tax free basis. 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? So as a business owner making money, his excess capital, his retained earnings, his surplus capital had to reside somewhere. And so by flowing it through the policy, it didn't take away any of his options. Isn't that good? Now let's think about our kids, our grandkids and our great grandkids. We've been taught to be divisive in the family. You've all heard this before. When you grow up, you're going to start your own family. You're going to have your own bills. You'll understand what it's like when you do that. That's talking about being divisive. The wealthy don't talk that way. They circle the wagons and they keep the money in the family. This picture that you see here is a picture of my family. And you can see here we're wearing T shirts that read Annual family banking meeting. Now we have our family banking meeting once a year. The entire family is involved and we get together and we talk about how we're utilizing our system of policies. We have 49 policies in our family banking system. All of the people that you see in this picture are life insured. And we talk about what we are going to do in the upcoming year, how we are going to keep the money in the family. And it is interesting that the children have much higher neuroplasticity than adults do. That's why it is so advantageous to learn a new language at a younger age. Children pick up on this much quicker than adults do. And we know that by keeping the money in the family we are not transferring it away. And, and we know that death will come. We know that people in the family are going to pass away. And when that day comes, and it will come, there'll be a windfall that comes back to the family on a tax free basis and it replenishes the family for everything that we've spent and everything that we've paid in premium. And so that is following Nelson Nash's first golden rule, which is to think long range. The second golden rule is don't be afraid to capitalize. Everyone in our family understands that their money must reside somewhere. What better place to have it reside than here? The third golden rule is don't steal the piece. So we let Our family know everything that you borrow from the family banking system and everything that you repay to the family banking system you can re access from the family banking system. We've let our kids know. When you're old enough to truly conceptually understand what we've built here, if you choose to shop at home and finance all your mortgages, property, etc. Everything that you're going to need to finance throughout your lifetime, if you do that within the family, you're not only going to be able to re access everything that you put back in while you're living, but you're also going to be replenished when mom and dad pass away for everything that you've put into the system. And this all happens on a tax free basis. If our children decide to not shop at home, if they decide to shop outside the home and do business with banks. And so if they violate Nelson Nash's fourth golden rule, which is don't do business with banks, not only are they not going to get any of the death benefit proceeds but we're also going to reassign ownership of their policies to a charity of our choosing. And so one thing that I do want to share that's very close to me, it's very personal. This gentleman that you see here in the back row, so this is papa. And Papa just a few weeks ago sadly was diagnosed with terminal cancer and he's retired after 35 years on the police force here in the city of Edmonton. And shortly after he retired I asked him if I could take out policies on his life. I said look, I'll pay the premium so you don't have to put any premium in and we're going to put these policies in place and heaven forbid when you pass away we're going to pay off the home for Nona. So there won't be, she won't be in any financial struggle, she won't have a bad financial day for the rest of her lifetime. And the remaining proceeds of the death benefit will reimburse me for the premiums that I've paid in and will create policies on all of the grandchildren as part of thinking long range thinking, three generations past our own. So papa agreed. At that time he thought I'm not life insurable, I'm type 2 diabetic, nobody's going to insure me. So I got him insured and that windfall is going to come. So when he passes away that money is going to come back to the family on a tax free basis and it is going to replenish the system. And it is going to make sure that Nona doesn't have a bad financial day for the rest of her lifetime. Now, over the course of an entire lifetime, I want you to think of all 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. Think about all the money that you've already transferred away up to this point in your lifetime. Add up all the money you've earned and all the money you've spent. Could you write me a check for that amount of money right now?

Have the banking process work for you rather than against you. So here's a recap. 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 and rely on someone else to achieve the financial abundance that you deserve today. And you don't have to be rich to become your own banker.

I'll just ask all of you again for the questions that have come up for you throughout tonight's webinar. Please make sure that you've typed them into the Q and A window so that we can get those answered during our Q and A period, which we're getting underway here in just a few short minutes. And we'll take all the time that we need to make sure that all your questions get answered. Now.

You might be thinking, okay, this process looks awesome, but how will I know if this will work for me? Well, the answer is to schedule your discovery call. Now, you've already received a message inviting you to do that, whether it's a text message or whether it's an email. And if you book your call before the end of the webinar, here's what you're going to get. You're going to get a one on one conversation with an authorized infinite banking practitioner on our team. You're going to receive access to an online video series that has a $49.95 value. But because we're authorized practitioners with the Nelson Nash you Institute, we're able to share these resources with our prospective clients at no cost. You get a clarity meeting which helps you to clearly understand how this process can be implemented in your family and in your business. And again, you'll be probably thinking, okay, this all sounds great, but I don't want to go about doing this alone. Thank goodness you receive lifetime coaching from our team. Lifetime coaching and, and you'll never get a bill for that coaching. That's all part of the service that we provide and we are experts at this. All of our team members are authorized with the Nelson Nash Institute. All of our team members practice this process in their own lives. There's several more valuable resources for you. We just want to make sure you get all the value that you deserve from attending here this evening. The first is if you have an opportunity to visit our website, please do so ascendantfinancial Ca and you can browse through the website. There's just some great resources there for you. There's also a bookstore where you'll be directed to purchase your copy of Nelson's book Becoming youg Own Banker. But there are also some additional books that you might find valuable and you might want to add those to your library. And we ship those anywhere in Canada. We, we sell them for less and we thoroughly believe that you're going to enjoy them. We also have a podcast. That podcast is titled Wealth Without Bay Street. My co host, Richard Canfield and I, if you go to youtubes, if you like the youtubes, just visit Wealth Without Bay Street. There's an abundance of episodes. There's a client series as well where we have interviews with real clients who are practicing this process in their lives and have been doing so for several years. We also have the recently launched, and I say two weeks ago, recently launched Ascendant Financial YouTube channel, which presently has a whopping 36 subscribers. So if we can ask you for a favor, please subscribe to the channel. All of the webinars that we do, all of the content that we produce is all being uploaded to this YouTube channel. And we hope that you enjoy the content as much as we enjoy creating it. All right now, Nelson said earlier, if you understand the problem, the solution becomes clear and you'll know exactly what to do. And all of you who enrolled in the webinar were invited to watch the Nelson Nash film, which was a documentary film that I had commissioned on Nelson back in 2017. And I express gratitude and give credit to some very important people in my life. Richard Canfield, Jason Rink, David Stearns, Bob Murphy, Carlos Lara, the board of the Nelson Nash Institute, for giving this project their blessing and for helping it become a reality. And so I would wholeheartedly encourage you to watch this film at your convenience. It's an hour of your life that'll be very well spent and it'll give you more of a glimpse into the essence of just how incredible Nelson was. Now you don't have to get a policy or a system of policies from Us, there are lots of great people out there 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 that you get a good coach. And when you choose who you're going to work with, here are some things for you to think about. You've got to be careful about the life carrier that you choose to put your policies with and ensure that they're designed properly. There's many different ways to design a policy. Most people who are selling life insurance don't have expertise in this area. So make sure you're working with someone who specializes in becoming your own banker. You should choose someone who's an authorized infinite banking practitioner with the Nelson Nash Institute. Here's what that means. It means that they've been through a course of study and equally as important, they have been through a mentoring process where an experienced practitioner has mentored them and taught them and coached them on how to educate and how to coach and mentor their own clients to implement this process properly. The reason you should do this in your life right now is because you deserve the outcome right now. The longer you wait, the more that 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 the interest that your money could have otherwise earned? Schedule a time to meet with us. It's included in this webinar. Now we have a number of amazing reviews, testimonials from real people. These are all available on our website, on the YouTubes, on the Facebooks, and we're very grateful. We're very blessed to be working with so many great people. Now we share often that there isn't anyone that we've met that we cannot help to implement this process. But we don't work with everyone that we meet. There has to be a fit. And that discovery call is going to help you determine and help us determine whether or not there's a fit. And so we talked about commitment earlier. If you're committed to this, click the link that you received and schedule a becoming your own banker call. If you you'll be glad you did. Now what I want to do is I want to open it up for some Q and A. And so we're going to hop into the Q and A window and let's see what we've got. Now, Sarblo, if you're here with me, please go ahead and just type in the chat window.

Okay, awesome. Now, for people who are already booking their discovery calls, if you can just type in the chat window that you've booked, we'd love to recognize you. We'd love to recognize you for taking action and can't wait to chat with you. All right. Okay. The first question is you might get to this, but I'm wondering how this applies to houses when interest rates are currently so low right now. Also, if someone doesn't have much disposable income, how can they put capital into the policy if they still have to pay their mortgage? So, Annalise, that's a great question that would be addressed as part of the Clarity meeting with the advisor. So the advisor would take a good look at how a person is structured financially and take a look at what their specific financial objectives are, how much money is needed to achieve them, what time frames, and then work toward engineering a system that enables the family or the business to achieve that. And if there's not enough capital available, then we adjust the timelines. Right. There's no such thing as an unrealistic objective, just unrealistic timelines. And so thank you for asking that question. That's all part of our process.

Angela, you spoke to doing this incrementally. Can you expand on this? Angela, may I ask you just to clarify the question for me, please? I'd be happy to answer that for you. Praveen asks, how much interest do we have to pay on the policy loan? So when you access a loan from the life insurance company, simple interest is applied to that policy loan balance. You're a part owner of that insurance company. So remember the grocery store example? We want to put more capital in than what the insurance company calls for to make more capital available for more captive customers. The simple interest on policy loans can be as low as 5%, as high as 8%. It depends on the life insurance company that you're dealing with. How old is too old to start? So you're never too old to start. Anonymous attendees. That's something that really frustrates me. Let me know and let people know who you are. We respect people's privacy, but I don't particularly like anonymous attendees. I'm not saying you personally. I'm just saying please don't do that on our webinars. You're never too old to start because you don't have to be the life that is insured. You can insure the life of someone that you have a beneficial interest in. So my Wife Rebecca and I, we have policies in place on all four of our children. I have policies on my nephews, my niece, my sister, my mother in law keep people in my business. One of the panelists who's on this call tonight, I have a policy in place on. So as long as you have a beneficial interest, you can own a policy. Can I transfer a current life insurance into this dividend insurance? The answer is maybe so, Ida, I hope I pronounced your name properly. Please book your discovery call and let us help you get to clarity on that question. How does a family combine policies work together? Thank you, Sid, for that question. That's a process that we coach and mentor our clients on who want to implement their family banking method in their own family. And so we talk about how to have that family banking meeting, how to put things in place, and how to help the family be good stewards of the system.

So Lloyd asks, is there a Canadian equivalent to investment grade insurance contracts?

Lloyd.

We could find that out for you. But participating dividend paying whole life insurance is not an investment. It has never been an investment. It never will be an investment. It's a universal, universal. It's a unilateral, binding contract. The insurance company itself assumes 100% of the risk for fulfilling those contractual guarantees. If my parents have a tough medical history, are they still eligible for these policies at a reasonable cost? While we're not solving for the death benefit as it relates to implementing the process, we're talking about capitalizing the system. And so through our discovery process, we can help you determine who are the best people to insure, who should own the policy, who should pay the premium, etc. Will there be a replay recording of this webinar? Absolutely. And that will be distributed to everyone who enrolled and everyone who attended.

How can we take the course to become an authorized practitioner? So the first step in that process is to reach out to the Nelson Nash Institute. And the institute interviews every prospective student. And so you have to pass that step in the process. And if you're eligible to be enrolled in the program, once you complete the program, then you're required to be mentored by an authorized practitioner.

How long after you start a policy can you start borrowing and what percentage of your pool of money? Sid, great question. Thank you. The way that we engineer policies, loan amounts are available immediately and you can access policy loans from the insurance company up to 90% of the total cash value of your policy. So you can pledge up to 90% of your total cash value as collateral for a policy loan at Any time. Can I start this process slowly, or is it all in? Angela, that's such a great question. Thank you. It's important to start somewhere, and if you've never swam before, it wouldn't be a good idea to dive into the deep end of the pool. But you can't learn how to swim until you get in the water. And so it would be best to start in the shallow end and work your way toward the deep end as you. As you get more experience.

Can I still book a discovery call? This is from Annalise. I don't have my license yet, but I am working toward it. Perhaps this means I can't book the call. Annalise, you're more than welcome to book the call. No one's preventing you from doing that. I haven't received a link to book the call, so please check your email, check your text messages. If it hasn't arrived yet, it will be sent to you, I promise you. That is, if you've left a legitimate email and legitimate mobile number.

Angela, to book that call. It's real simple. Once you get the link, just go ahead and click on that link and choose a date and time that's convenient for you. Meg asks, how do you approach another person to let you get a policy for them? That's a very interesting question. Well, you would have to have a beneficial interest in that person. Meaning, you know, just to give you a general rule of thumb. Could be parents, could be children, spouse, grandchildren, great grandchildren, nieces, nephews, joint venture partners, business partners, key people in your business, etc.

What happens if I lose my job and can't pay a few months? Is my investment safe? Sean, that is an excellent question. Thank you so much for asking that. So if you lose your job, you're unable to pay the premium. The way that we engineer the policy is that the total premium that you initially chose to deposit is not the minimum premium that is required. And so if you had no money at all, then there are many different options available to continue keeping that policy in force. Too many to describe for this webinar. Love to expand on that with you in a discovery call, but there are many options to keep the policy in force and the investment. Again, this policy is not an investment. The accumulating cash values of the policy cannot be taken away from you. Repossessed. There's no volatility there, if that's what you're wondering.

Cam asks. Only mutual insurance companies can do this strategy. Cam. The answer is no. So there are publicly traded life insurance companies that can provide dividend paying, participating whole life contracts. There's a distinction between a mutual company and a publicly traded or a stock company in that with a mutual life company, you are a part owner of the company and you participate in the divisible profit generated from everything that the insurance company is engaged in. Whereas with a stock company, there are also stockholders who have an expectation of participating in profit. And so in addition to that, it's not a private company. A mutual company is private. And so we like private contracts with a private company. Is there a medical exam? That depends on who the proposed life insured is going to be, what the starting death benefit amount is, age, gender, smoking status. There's many different criteria there.

Ida asks, do you work with Manulife? Yes, we are contracted with Manulife. How big of a policy do you take out on teenagers? The policy owner determines how much they want to capitalize their system with. And so that would be your decision as the policy owner. What is the disadvantage of doing this strategy with publicly traded insurance companies? You know, I wouldn't characterize it as a disadvantage. I would just say that over the years, companies that have demutualized and become publicly traded, they succumb to a lot of pressure from stockholders to focus on other products that produce a lot of profit but also have inherent risk built into them. Whereas the mutual life company is responsive only to the policyholders, a publicly traded life company is responsive first and foremost to the stockholders, not to the policyholders. And so speaking from my own, just my own perspective, it's not about whether that's an advantage or a disadvantage. It's just about what you're most comfortable with. And for me personally, I'm most comfortable with a mutual life company. Do all insurance companies in Canada participate in the becoming your own banker process? Do you work with all insurance companies or specific ones? Excellent questions, man. These questions are awesome. So insurance companies in Canada are in the business of selling life insurance. The process of becoming your own banker is not a product. And so there's no connection there between the two with any life insurance company. We work with selected life carriers that we've vetted over the course of the past 13 years to a very, very stringent set of criteria to make sure that all of the anatomy of the policy, the engineering, the track record of the life company, the administration of the policies, the client service, client care, access to additional estate planning, and advanced tax expertise. So there's a whole set of criteria that we vetted every life carrier in the country and We've narrowed it down to a select few that we work with. Mark Hillman asks, are there taxes owed at any time on policy loans? Awesome question. If you access a policy loan that exceeds the adjusted cost basis of the policy, you will trigger a taxable gain that is taxed as earned, essentially income. And if you repay that policy loan at any time, you receive a tax deduction dollar for dollar. So great question. Thank you. If the policy owner wants to access capital without triggering any taxable event ever, there is a method to do that and we coach our clients on how to do that properly. How long do you have to pay the premiums? Well, you can pay them for as long as you'd like, all the way to age 100. The real question that you'll be asking Mark, when you grasp this process and you understand just how powerful the tool is that's used to implement the process, the the question you'll be asking is how long can I pay it for?

Which company do you recommend? I don't want to do a commercial for any one particular life company. Kam, it's best to have your discovery call go through your Clarity meeting and the advisor on our team is going to make sure that the correct company is structured to best serve you and to best achieve your objectives. Can you please send me the link to buy the book? Martin, you will absolutely receive that link.

Could this process ever go wrong or down in any way, shape or form? The policy owner's behavior is far more critical than the behavior of the insurance company. The insurance company is legally bound through this unilateral contract to satisfy all of the contractual guarantees that again, they're legally bound to fulfill. The party to the contract that can cause things to go sideways is the policy owner. And so that's why it's important to work with a good coach. Because remember what I shared with you earlier? If we put the best tool for the job, the policy, in the hands of someone who doesn't know how to use it, not only will they not turn out any good work with the tool, but they're likely going to break the tool. That's why it's important to have a good coach.

Do you work with Great Way Life insurance company? No. Is the interest guaranteed in the policy? Yes. Do you deal with Avari? No. I just had an insurance medical done. Can it be used for this? Yes. There can be a med share that's generated in order for it to be utilized for this. Passing wealth to the next generation would be tax free. How do I save tax on My income. Robin, that's an awesome question. Book your discovery call and make sure you get a clarity meeting with an advisor. We'd love to address that with you one on one. That's an awesome question.

Are there a lot of fees? No, there are not. This is not an investment. You're not dealing with management fees and people that get paid whether you win or lose.

Do you work with or deal with Primerica Life Insurance? No, we don't. Primerica does not offer dividend payments. Paying participating whole life contracts.

I think it would be wise that I pool money for my child than me because I already have term life insurance. Yeah, that could be an approach, something to consider for sure. Yeah, definitely.

Rethinking your thinking on that. That's awesome.

These questions were amazing. Now I think Sarblock, it looks like there were a lot of questions that came up in the chat window as well. We still have 59 people with us on the webinar, which is amazing. But I want to again, just emphasize with everybody, please make sure that you get your questions answered and make sure that you create that discovery call. You'll be glad you did. It's included with the webinar. So something, something definitely to take advantage of there. I'm going to scroll through for the next couple of minutes. Really appreciate everybody sticking around. It's been a lot of fun here tonight. And let's see if we can find any additional questions here. I'll just scroll through real quick.

Okay.

This is great. A lot of people indicating that they are reading the book.

And.

Thank you. Love how you explain the grocery store example.

Sean asks, wouldn't I make more money if I sell it to others too?

Sean, maybe you can clarify that question for me. I'm not sure.

What you're selling to others too, but if you could clarify that for me, that'd be great.

Some comments about the audio.

Many people saying that the audio was coming through loud and clear.

Sean asks, are you related? Oh, okay. Yeah. Cerbolo's already asked, answered that question for, for us, which is great.

Yeah, I'm not seeing too many additional questions unless they're closer to the bottom here.

Awesome questions. Wow. Really, really good. Thank you so much, everybody. You know, I just want to share with all of you that I'm super, super happy that you chose to spend your evening with us. Thank you so much for doing that. And we've talked about the discovery call process. Make sure you get that booked. You'll be glad you did. It's included with the webinar and just ask yourself that question. You know, what if I do nothing? Well, nothing's going to change and you'll continue working your butt off for the banks and someone else is going to get all your money. So schedule that Discovery call and put financial control back in your hands. Thank you so much everybody. I hope that you enjoyed this webinar as much as I enjoyed co hosting it with my panelist Sarblo Gill and my team. We loved being with you. Take care. Enjoy the rest of your evening and I look forward to hearing about all the Discovery calls and Clarity meetings. You'll be so amazed with how this process is going to transform your life. Thanks everybody. Have a great rest of your day.