Becoming Your Own Banker in Canada | Someone Has To Control YOUR Money

All right, welcome everybody, to tonight's webinar, an introduction to the process of becoming your own banker, the infinite banking concept. I'm your host, Jason Lowe, Ascendant Financial CEO. I am very excited to be here with all of you, and I hope that you're as excited to be here with me. We're going to have a wonderful webinar. We're going to provide ample opportunity for Q and A. Can't wait to engage with you on your thoughts and questions that come up as we go through the webinar. And what I would encourage you to do is as we're going through the content, as questions come up for you, please go ahead and type them in so that we get them captured as we go, because we're going to allow for a really good Q and A session at the end of the webinar. And questions are good for the benefit of everyone who's in attendance. And so thank you to all of you again for being here. We know that you could have been doing other things with your time, and you chose to spend it here with us. And for that, I am super grateful. Thank you. I wanted to just share with all of you that, gosh, these webinars, they have been absolutely incredible. You know, we've, we just, we really didn't anticipate the amazing response, you know, you know, at this time of year with people enjoying the summer vacation. But we're super grateful. So thank you. All right, let me do this. I'm going to bring up. I'll just share my screen here.

There we go. Get that PowerPoint.

Perfect.

Okay.

Now, one of the things that I would like to invite everyone to do is to please set your smartphones to silent so that you're not interrupted and you're not distracted and you can be with her here with us for the presentation. First thing I want to do is I just want to applaud all of you for being here. And as I shared earlier, you could have been doing something else with your time, and you chose to be here. You're so committed to discovering the process of becoming your own banker, and you're so committed to radically improving anything that you're already doing financially in your life that you're giving up other things to be here. And on behalf of my entire team and I, I applaud you for that commitment. I'll start by sharing with you. Everyone else is telling you to put your money away in a tax deferred retirement account, to put your money into mutual funds, stocks, real estate, bonds, whatever that is, everyone else is telling you to put your money away. And I'm telling you that if you've handed control of your money over to someone else, you might not be in the very best situation right now, especially during this COVID 19 pandemic where the economy has ground to practically a near standstill. That if you've been accustomed to handing money over to someone else and to transferring that money away from you, here to tell you, you might not be in the very best situation right now, but we're going to help you remedy that. Now, who is this for? Who is the process of becoming your own banker, the infinite banking concept for? I'm here 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 when you think about whether you're an entrepreneur, a business owner, an investor, a high income earner, someone who's inexperienced, maybe just getting started about thinking about savings or investing, maybe you're experienced, you're in retirement, nearing retirement, you're an individual family, you're an established business owner who's making money. Maybe you have some debt that you want to recapture and get repaid much sooner and have the money flowing back to you versus flowing away from you. But most importantly, at a fundamental level, if you have money flowing through your hands and you're in a position where you're spending less than what you're making, so you've got some discretionary money, you've got some additional cash flow above and beyond what you're spending, this is for you. And if you need the use of money for the rest of your lifetime, and you're already accustomed to the process of banking as it relates to your needs, but you're just not controlling the function of banking, then this is for you.

I want to take you back here and just share a story with you, if I may. I remember many years ago, so this was back in. Oh gosh, this would have been in 2004, and I'll never forget it. I was standing in a dark, empty living room and I was staring out at a sold sign on the front lawn of my property in Westboro in Sherwood Park, Alberta. And I was feeling like a failure at that time. I was feeling very stressed and very defeated. And I never would have expected to be here after doing all the things right financially. Now, 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 financial future. And up to that point in my life, I thought I was doing all the things correctly according to mainstream financial advice. And over the course of the next few years, life decided to hand me a few very big challenges all at one time. My first marriage was over. I was deeply in debt. I was on the brink, literally on the brink of financial ruin. And I endured the unexpected passing of both my mom and my dad. And that's, you know, some of the most stressful financial events and personal events that you can experience over an entire lifetime happened to me in just a few short years. And so standing all alone, I can just close my eyes and picture it. Standing all alone in that dark, empty living room. I didn't know who to turn to for help. And just really, truly, when I felt like I hit rock bottom, I remembered something that my late dad used to say to me all the time. He used to say, son, don't ever be found guilty of giving up on yourself. And so I made the decision to take control of my Life. And in 2008, I was contacted by a dear friend of mine. And Matt was a very successful and established business owner at that time, making money, doing really well. And he invited me to attend a conference. And the topic at that time I didn't know was on the process of becoming your own banker, the infinite banking concept. And I didn't have the money to go to that conference, honest to goodness, I didn't have the resources to go. But I was determined to find answers and I decided to do whatever it took to get there. So I took the initiative, I took the action, and. And away I went. I left that three day conference believing that everyone should hear about this process. I began to implement this process in my life and everything changed for the better. Today I am remarried to my beautiful, intelligent, lovely wife, Rebecca. We have four young children. I no longer feel stressed financially because of this process. My family and I are in total control of our money. We're no longer worried about the ups and downs of markets. And because of this process, my family and I will never have another bad financial day in our lifetime while I'm alive. And after I'm gone, I believe that financial power and control should be in your hands, not in the hands of a bank, of a loan officer, the government, or any temperamental stock market. And so over the course of this next hour, in a bit, I'm going to take you through the past 12 years of my experience that the money, the energy, the time that I spent in becoming an expert at this process and I'm going to show you exactly how I've helped thousands of people just like you and how my amazing teammates have helped people just like you to build your own peaceful, stress free financial life. And I'd love to hear from people who are on the webinar. Does that sound good? Just let me know if that sounds good to you.

All right, awesome. Okay, let me share my screen here again. Here we go, folks. All right, now I want to share some additional valuable resources for you because again, at Ascendant, we're all about adding value. And I want to let you know, if you haven't had an opportunity yet, please make sure that you visit our website. Just ease on over to ascendantfinancial Ca. Again, that's ascendantfinancial ca. And on the website you're going to find an abundance of resources, including our bookstore. So under the resources tab, if you just visit the bookstore and during tonight's webinar, if at any point during the webinar you find yourself thinking, hey, this is a really amazing process, I want to continue to learn more about it. Just make sure that you get your hands on a copy of R. Nelson Nash's book titled Becoming youg Own Banker. And you can see that right on my screen here. We sell it for less and we ship anywhere in Canada. So make sure that you add that to your library. I would also encourage you to take a moment and just go through our vision so that you can understand exactly who we're growing into as a company and just how much passion we all have and how I decided to make what Nelson Nash created. The process of becoming your own banker, my own life's work. And so I would encourage you to visit that now in addition to that on YouTube, if everybody likes the YouTubes. If you head on over to YouTube and you look up Ascendant Financial. So again, that's Ascendant Financial Inc. You're going to find our YouTube channel that was just recently launched and we have a whopping 26 subscribers up to this point. Now we also have Wealth Without Bay street, which is an amazing podcast. And so if you head on over to Wealth without bay Street on YouTube or wealthwithoutbaystreet.com, you're going to see just an abundance. It's here on the screen of episodes. We would encourage you to take in the podcast. You're going to love it. There's new episodes that get launched literally every single week. And this is a wonderful channel for you just to stay informed. On the process of becoming your own banker. Isn't that good? All right, let's carry on. Now, I want to talk about how the infinite banking concept got started back in the early 1980s. Now, for some of you on the webinar, you may remember this period of time in the early 1980s, inflation skyrocketed and interest rates peaked at 21.5%. Now, if you found yourself in a position where you owed a lot of money to third party finance companies, to commercial banks, et cetera, you were in a world of trouble at that time because your payments would have increased dramatically. And what ended up happening to R. Nelson Nash? At that time, he found himself in a position where he owed a half a million dollars on mortgages because he was quite active in real estate investing at that time. And so he found himself in a very bad situation. Now, up until that point, all of the real estate gurus were saying, listen, you should access someone else's money, so utilize someone else's money to go and buy all of this real estate. All these gurus were telling him, you can't go wrong. Real estate just goes up in value. But nobody told him what happened when the interest rate lever went the other way. And so naturally, he found himself in a position where he thought, okay, if I try to talk to somebody to say, how do I get myself out of this financial mess? The advice that I'm going to get is just sell the real estate. But he thought to himself, what fool is going to buy that real estate from me in this current interest rate environment? And so he was in a bad situation financially, not to mention he found himself in a really bad health scare where he had to have his heart replumbed in four different places. And he used the analogy he talked about. He said, listen, everybody needs a heart in order to live. And when he got his heart replumbed in four different places, he was on a heart and lung machine for several hours during that surgery. And he said, obviously, I don't remember the experience. All that I know is that I was just existing. I was alive, but I wasn't truly living. I was merely existing. And when you think about his financial circumstance at that time, he was, it took him 13 years to get out of that situation. He didn't realize that he had the solution right in front of him. He could access policy loans from the life insurance companies at about 8% interest. He, he owed the lenders 23%. He didn't realize that the solution to the problem was right in front of him. So he cranked up these life insurance policies with large premiums and it took him 13 years to get rid of the commercial banks. Now again, remember this problem started back in the early 1980s. Thirteen years later the commercial banks are gone and Nelson and his wife Mary did not see a commercial bank for anything other than the convenience of debit for the rest of their lifetimes. And that created a very peaceful, stress free financial life. Now going back to the heart and lung machine, when Nelson said, listen, I knew I was alive but I wasn't really living, I was just existing. He was comparing that to what most people do. We know that everyone needs a heart. We would all agree on that. Banking is the most important business in the world. Now if you think about the banking system as a heart, it's pumping money, right? Pumping money to where it's needed and it flows through you and me. And where does it end up? It ends up right back into the banking system. The issue is how much of the banking function do you control as it relates to your needs? It's important to remember there's only one pool of money in the world. It's inconsequential that there are many different institutions that handle that pool of money and there's many different currencies. 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 had to go through the bankers, the toll takers, the gatekeepers who were all making money off of him and, and abusing him. 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 insurance policies. And you can't get that done overnight. It took him 13 years to get rid of the snakes and dragons as Nelson would refer to them as. Now everyone thought that he was crazy, including his own wife, Mary. You have to get this done incrementally over a period of time. Now think about it from this perspective. If there's only one pool of money in the world, money is flowing through the pool, through our hands to meet some need. But somewhere in the process it all ends up right back in the banking system. Now Nelson went on to say that people have abdicated their opportunity and their responsibility as it pertains to the banking function in the economy they're depending on someone else to perform that job. And that character in the play is the one who's making the most money, and rightly so. Because of the golden rule, those who have the gold make all the rules. And I would say that the person on the street in Canada today, they understand the subject so poorly that they're doing the equivalent of living off of a heart and lung machine 35% of the time. It's absurd. Now what I mean when I say 35% of the time is that if you take a look at, again, just the average Canadian family, more than 34 and a half cents of every dollar that flows through their hands is flowing away from them in the form of interest. And when you think about how money is flowing through your hands right now, I would invite you to ask yourself this question. How much of the money that I'm making is flowing through the books of someone else's bank? So I'll ask you that again. How much of the money that you're making doesn't matter what the source of that money is, whether it's T4 income, dividend income, interest income, doesn't matter how much of that money is flowing through the books of someone else's bank? Because I talk to people every day. As you can imagine, I just spent the latter part of this day or the earlier part of this day, pardon me, wall to wall meetings, talking to people just like you. One of the questions that I ask is how much money do you make and what's the source of that money? And then once a person understands the problem, they understand that they're not actually making that money, they're just handling it. So most of you on the call, you're likely earning a T4 income. Who gets the money first before you do? Your employer deposits that money directly into someone else's bank. It's absurd. It doesn't need to be that way. You can take control of this function as it relates to your needs. And we're going to describe how to do that. 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, whether it's your family, whether it's your business, or all the above. And you can control that function in your life. And we're going to talk about how to do that. Now. The book that started it all was Becoming youg Own Banker. This book was authored by the late R. Nelson Nash. He also wrote the books Building your Warehouse of wealth and he co authored the book titled the Case for ibc. Now you're going to receive a link. It's either going to be texted to you or it's going to be emailed to you. And that link is going to take you directly to our bookstore so that you can purchase a copy of the book and add it to your own library. It's a 92 page read, it takes less than an afternoon to get through, and it is the bible of the process of becoming your own banker. So if you haven't read that book yet, you have an opportunity. I wholeheartedly encourage you to add it to your library. And if at any time during this webinar you find yourself thinking, you know what, I, I really want to have someone on Jason's team sit down with me and look at my financial situation and help me understand how I can become my own banker. We have a becoming your own banker call designed exactly for that. You're going to receive an invite throughout this webinar and it's going to invite you to schedule that call. So if you find yourself thinking, this is something I want to know about, how it can work in my life, schedule that call. It's included with your webinar. Alright? And if you like what you hear and what you talk about on that call, that's great. And if you don't, as long as you leave happy, that's okay too. Now, it's something that Nelson used to say all the time. What a peaceful, stress free way of life it is when you get the banks out of your life. I want to hear from you in the chat window. Tell me if that statement resonates with you. Let's just take a second. I want to hear from folks.

Let me know if that statement resonates with you. What a peaceful, stress free way of life it is when you get the banks out of your life. Tell me if you agree. All right. Awesome. Thank you for the engagement. Okay, now 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. It doesn't matter. I talk to people every day who say, well, I don't owe anybody anything. I don't, I don't have any outstanding loans or credit card debt or student loans or lines of credit. It's impossible to owe nobody nothing. If you own a home, you have to pay property tax. If you don't pay the property tax, you're in trouble. When you go to the grocery store and you wheel the cart of groceries up to the teammate that's gonna process your order, it's impossible to owe nobody nothing unless you're homeless and destitute. You're always working with money. And Nelson used to say that regardless, you're always working with borrowed money. Because if you are accustomed to paying cash for things, which many of you likely are, whenever you pay cash for something, you're permanently giving up the opportunity to earn interest on that money, not only for your generation, but for every generation that comes after you. The loss opportunity is permanent. The whole idea of the process of becoming your own banker is to recapture the interest that one is paying to banks to finance companies for all those major things that you need throughout your lifetime. Whether it's property, whether it's business expansion, business acquisition, whether it's vacations, education, weddings. Think about all the things up to this point in your life that you needed money for. And when you acquired those things, you permanently transferred the money away from you. This process is all about recapturing the interest, all about having that money flow back to you versus flowing away. The whole objective is to keep the money in the family. Now, one of the fundamental truths that's important to recognize 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 has to perform the function of banking in your life. It should be you. Now, regardless of what you're doing in your life already, financially, regardless of what that is, that is going to be radically improved when you introduce the process of becoming your own banker. So this is not about an either or. I just want to emphasize that with clarity. This is not about evaluating. Should I become my own banker or should I invest some money in real estate? Should I become my own banker, or should I put money into mutual funds or registered retirement savings plans? Should I become my own banker or should I invest in the stock market? It's not an either or. It's an as well as recognizing that anything you aspire to do financially or anything that you're already doing financially is radically improved when you become your own banker. So this is an as well as not an either or. Now, I want to talk to you for a quick moment about getting into the grocery store business. Now, you. You may be thinking to yourself, listen, I came to learn about becoming your own banker, not about how to get into the grocery store business. But this is really important and fundamental to understand because if you can grasp this grocery store example that I'm about to lead you through, the rest of becoming your own banker is ridiculously simple. So let's talk about getting into the grocery store business. Let's consider a business in which you are both the buyer and the seller of the same product.

Think about it.

As human beings, we all need to eat. And where do we go to get our food? The grocery store. Now contrast that with banking. As human beings, we all need the use of money. Now where does that money flow? It flows through the books of someone else's bank. So consider a business in which you're both the consumer as well as the seller of the same product. Now, your market is unlimited. Everyone uses groceries no different than everyone uses money. Someone has to perform the function of distribution. When you need money, you utilize the convenience of debit, your credit card, etc. All those transactions are flowing through the banking system. When you need to purchase food, somebody has to perform that distribution function. So we need to study the business, which is why you're here on the webinar. You're studying the business of banking. We need to buy a superior location. We need to build an attractive building. We have to stock it with high quality merchandise. And think about this. We have to turn over the inventory, right? If the inventory isn't in motion, imagine what it would be like if you went to your grocery store and they didn't move any of the bread, butter, eggs, all of the things that you know you need. Well, the food's going to rot. So we have to turn that inventory over multiple times. It's no different in the banking business. Money has to move. If it's not in motion, it's not worth anything. So when you think about.

The more you turn it over, the more profitable your business becomes. So again, think back to this grocery store business for a moment. If you can turn the inventory 20 times per year, you can retire early. Now, I want you to think about this analogy for a second and I'm going to utilize a can of peas in this example. Most people have no idea that in the grocery store business, the margins are very slim. They're very slim. So if you think about this, if we have a can of peas that comes in the back door of the store and we sell it out the front door, we have to sell it for more than what we paid for it in order to earn profit. So let's presume for a moment that we purchased that canopies at 57 cents and and we can sell it out the front door at 60 cents. So we're making three pennies for every can of peas right? Now, knowing that you're the one that owns the business, I'd like to ask in the chat window here, let me know if you would be the business owner that Takes the canopies out the back door because you own the business, right? You're the one that calls the shots. Or would you pay retail? Take that can of peas out the front door through the cash register. Let me know what you would do. I'd love to hear from from you.

Okay, so I have someone that indicated out the front door.

Rebecca, she indicated back door. Michael said front door. Curtis, front door. Steve, front door.

Steven, front door.

Okay, so the majority of the answers are the front going out the front door. Thank you. Because just imagine for a second if you took that can of peas out the back door, how much money did you make? Nothing. But how much did you pay? 57 cents. And so in order for you to make up for that one can of peas that went out the back door, you have to sell 20 cans of peas to make up for the one can that walked out the back door. The reason is that you're only making three pennies on every can of peas that you sell. So you got to sell 20 to make up for the one that went out the back door. But here's something that's even worse. When your employees witness that behavior, what are they going to do? They're going to mirror that behavior. It's interesting. If you know anybody in retail, ask them what the highest percentage of theft is attributed to and they're going to tell you it's internal. It happens internally. Now, why is this even related to the process of becoming your own banker? Here's the reason. If you imagine for a moment that you get into the banking business and you need access to money and you start accessing policy loans from the life insurance company and you don't repay those loans, that's the equivalent of going out the back door. But now the inventory isn't peas, it's money. And if your family witnesses you doing this, no different than your employees witnessed you doing it in the grocery store, what is your family going to do? Well, when your family takes over the banking function, they're going to go out the back door, too. And you're going to kill a very profitable business in a real hurry. I want to expand on this analogy a little bit. Let's presume that we don't pay 60 cents as the owner of the business, but we actually pay 62 cents. What can we do with that extra few pennies from every canopies that we buy as a business? We can go out and buy more cans of peas to sell to more captive customers. And so when you.

Compare that to the banking business, if you're accessing policy loans from the insurance company and you're not only putting in what the insurance company calls for, but you're also putting in extra money into your system, then what can the insurance company do with that extra money? They can multiply it. For whose benefit? For everyone who owns the insurance company, which in this case, you would be a part owner of the insurance company. So let's stop and think about this for a moment. Nelson Nash said that the process of becoming your own banker is ridiculously simple. He also had one of his five golden rules is don't steal the peas. So now you can commit that to memory and always recall what Nelson meant by that. When Nelson describes don't steal the peas, he's bringing you back to the grocery store.

Example.

Now.

We understand don't steal the peas. Can I get a heck yeah in the chat window? Tell me that you're, tell me that you're tracking what I'm sharing with you here. Let me know that you're picking up when I'm laying down. Okay, so we know that we're going to get into a business. We have to study that business. We need to build an attractive building, or in this case, put together attractive policies. We need to stock our store with high quality merchandise. We need to stock our banking business with money. And up to that point, we haven't made anything because we haven't transacted anything. So the only way for us to begin to produce profit for our business is we have to open the doors and start transacting. That's the very same thing that you need to do in your banking business. You to need. You can't let capital sit still. You have to get going. You have to get in process. All right, now here's the problem. First and foremost. If you don't understand the problem, the solution just won't matter. And so what Nelson used to say all the time is that unless a person understands that they have a problem, the solution just won't matter to them anyway. And so if you imagine if I started this webinar and I dive right into policies and the process and we don't recognize that there's a problem, then my time spent on describing the solution will be wasted because it just won't matter to you. Now this gentleman here that you see, R. Nelson Nash, God rest his soul, we were blessed beyond the definition of good fortune to be mentored by Nelson for so many years. Sadly, we lost Nelson last March. He passed away. And however, In September of 2017, I commissioned a documentary film on Nelson. And thanks to some wonderful, amazing people who I owe a debt of gratitude that I could never repay. Jason Rink, Richard Canfield, David Stearns, Bob Murphy, Carlos Lara, to name a few. Without them, this film would have never happened. And you can view that film@nelsonnashfilm.com you would have already received correspondence in the form of emails inviting you to watch that film just because you registered for the webinar. If you haven't watched it yet, take the time to watch it. I promise you it'll be well worth your one hour to get a glimpse into the essence of just how incredible this man was and the everlasting impact that he's had on so many people's lives. Thank you, thank you, thank you to everyone who participated in the development of that film. And so I'd like to ask all of you, ask yourself this question. Who is the banker in your life today? Whenever a transaction takes place, we're going to dive into the problem here now. And then we're going to focus most of our time on the solution. Whenever a transaction takes place, money has to flow, right? It has to flow from one party to another party in a relatively short time frame. Otherwise nothing happens. And so you have the bank, you have you as the buyer, you've got money, which is the medium of exchange, you have the seller, and then where does the seller put the money? Right back into the system. And so the essence of what the banking business is all about is that someone or some organization has control of a pool of money that can and must flow at a cost to meet some need. That money comes out of and ends up right back in someone else's bank. I say that again, someone else's bank. So you're earning an income, that income is flowing into someone else's bank. The money sitting there, it's not sitting there, as we all know, it's waiting for you to pay your bills. And so you take care of the mortgage, the car payment, you put a little bit of money into your retirement account, you pay off the credit cards, you pay off the loans, you pay your bills. All of that requires you to transfer money away from you. So it flowed into the system you transacted. All of those transactions were a permanent transfer of money away from you and by proxy, your family and every generation thereafter. And if you're a business owner, that money is flowing away from the business and by proxy, everyone who owns the business. So in other words, you're doing all the work and everyone else is getting all Your money. Why don't you think about this? This person, this first person here is the debtor. So this is the person that, let's say, for example, you need a vehicle and you go to the bank and you say, I want to qualify for a loan to buy this car. The moment that you purchase that car, you're in debt. So you're starting at a negative balance and you have to make payments. So you're making payments every single month, but you don't own anything until you make the final payment. Now this person sees the interest because it's part of their payment. Then they go into debt again, and then they make payments, they go into debt again, they make payments, and so on and so on. Now the saver, let's see if there's any difference between the debtor and the saver. The saver doesn't see the interest that they're giving up the opportunity to earn. So this is the person that says, I'm not going to borrow money from a commercial bank to go buy the car. I'm going to save up money because that's what I was told to do. Anyone who's had an influence on me in my life regarding money, they said, no, you don't want to go into debt. Debt is bad. Save the money. Well, where are they going to save it? They're going to store that money inside the books of someone else's bank. And then when they have enough to go buy the car, they wipe out their savings. So they end up in the very same place that the debtor did, right back at the zero line. Then they have to immediately start saving to go buy the next car. But they think to themselves, oh, I'm not, I'm not paying any interest. But nobody sat down with them and said, let's calculate all the interest that you're giving up the opportunity to earn. And so is there any difference, is there any difference between the debtor and the saver? They both had the same objective, which was to buy the car. They just purchased the car by utilizing a different process. One person had to pay interest to access someone else's pile of money. And the saver permanently gave up the opportunity to earn interest because they parted ways with their own cash. So both methods involve a permanent transfer of money away from you. Every payment that you make is a deposit into someone else's bank. So I would like for you to remember that every payment that you make is a deposit in to someone else's bank.

The solution is to take control of that function as it relates to your needs and to become your own banker. Now, you remember the fundamental truth. The fundamental truth is that your money must reside somewhere. Again, your money must reside somewhere. Now, let's go through a fun thought experiment here. I want to talk about the perfect investment. Now, Carlos Lara does a wonderful job in the book titled the Case for ibc, which again is available on our website. And Carlos describes this fun thought exercise. If you could invent a type of asset from scratch that had no drawbacks, what would it look like? And so we've gone through this thought exercise with so many different people and it's kind of odd how Carlos was spot on with the responses that we get. So we get responses like a high rate of return, a consistent rate of return, conservative. So it has to be safe, it has to be liquid, guaranteed. There has to be tax benefits or even tax free. No market volatility. It yields income besides a capital gain. It's creditor protected, it's inflation protected. You're in a position of control, it's transferable, it's easy to manage, there's no hidden fees or penalties, and it's reputable. What I would invite you to do is I would like for you to take a look at your various assets and simply identify which of the features from the list on the left hand side here your assets are doing well on and which of the features they fail to satisfy. I've got a surprise for you. This list of attributes comes pretty darn close to describing a dividend paying, participating whole life policy. Let me expand on that. The policy itself. So this tool called a dividend paying, participating whole life insurance contract, this is just a tool. And when you're thinking about the process of becoming your own banker, this policy is a tool that you utilize to implement a process. Now, what's so important for me to instill upon everyone in the webinar is that 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, but they're likely going to break the darn tool. So for me, in the description of this tool, it's important for me to emphasize with you that you need a coach. You need someone who can help you and coach you on how to utilize this tool. And we truly believe that we're best suited for that role. Having practiced this process in my own life for the past 13 years and having a wonderful team and a rapidly expanding team of people across Canada who coach and mentor clients every single day. Now you're going to end up working with a coach and it may not be us. So just make sure that you work with someone who is thoroughly familiar with this process and someone who is an authorized practitioner with the Nelson Nash Institute, an authorized infinite banking practitioner of which all of our coaches are. Now let's dive into the tool a little bit. The word participating, what does that mean? It means that you become a part owner of the insurance company and you participate in the profit generated from every product that the insurance company provides to the marketplace. Now ideally you want your policy or your system of policies to be with a mutual life company. The reason is that a mutual life company is only responsive to the dividend paying participating whole life policy owners. They are not responsive to stockholders because there are no stockholders. And so if you can store capital inside of a business that's never failed to produce profit, that is only responsive to the whole life policy owners has never failed to produce profit, has generated a surplus every single year since inception. And you know that that money cannot be repossessed. It's contractually guaranteed to grow on a daily basis. There's no pandemic or bad economy or stock market manipulation or government intervention that can take any of that accumulating value away. How much capital do you want residing there? Dividend paying means that each year the life insurance company declares a dividend, which they've been doing every single year since inception. It is contractually guaranteed to be paid to the participating policy owner and it can never be repossessed and it can never lose value. Now you may hear, if you know somebody who's familiar with a participating whole life policy, you may hear the expression dividends are not guaranteed. That's incomplete. The only dividend that's not guaranteed is the one that hasn't been declared yet. And the life carriers that we work with have been declaring dividends every single year since inception. Now I'm not talking about inception being yesterday afternoon. I'm talking about 173 year track record. These companies have weathered the Spanish flu, the Great Depression, H1N1, SARS, COVID 19, the tech bubble burst, the financial crisis of 08 09, 30 recessions. If that wasn't enough during that whole window of time, and there's not a single dividend paying participating policyholder who's ever lost money. So again, it begs the question, if you know the fundamental truth that your money must reside somewhere, how much capital do you want residing here? Is there any downside to having some of your money not residing here? The answer is yes. And so whole life, what does that mean? It means simply that you're insured 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. So what that means is that every single day that you're aging closer to 100, the total cash value of the policy is, is rising and it cannot go down. It can't go backward. The policy cannot lose value. We don't have many financial guarantees in life anymore. I think everybody would agree with that. We just don't have many financial guarantees in life anymore. Pensions are going by the wayside. There's doubt about the future. However, dividend paying, participating whole life policies really, truly create a solid foundation of long term financial security. Now here's how that happens. The cash value is contractually guaranteed to grow every day. It can't go down. It's liquid. So you can utilize the capital for any purpose at any time. You're not withdrawing the money from the policy. You're borrowing against the accumulating value in the policy. So you're getting the best of both worlds. You're getting access to capital and you're achieving uninterrupted compounding growth. You've heard the expression, now I don't know if Albert Einstein actually said this, that compound interest is the eighth wonder of the world. I think he actually said compounding numbers. But we like to say that uninterrupted compound interest is the ninth wonder of the world. You're not penalized for accessing it early like you are a registered retirement savings plan. There are several tax advantages, both personally and corporately. So show of hands, how many of you are business owners on the webinar and you're making money.

Raise your hand. Okay, so for all of you business owners that are making money, the tax advantages that this tool represents are incalculable. You have got to schedule a becoming your own banker call to recognize how this is an advantage in your business. It is incredible. And if you think about even personally, it's, oh my God, the advantages are incalculable. Now here's the other thing. It provides a death benefit which instantly creates a tax free estate to achieve your legacy goals. Think about if you spend money throughout the course of your lifetime, which all of you are doing. If you know that when you pass away, everything that you've spent and, and everything that you paid in premium is coming back to the family on a tax Free basis, how does that make you feel? I'd like you to type that in the chat window. So if you know, if you can structure a system where all the money that you've spent throughout your lifetime and all the premium that you've paid into your system comes back to the family on a tax free basis, how does that make you feel?

So you get to take advantage of all the benefits of this process while you're living. I can confidently say there's 100% probability that you're going to die at some point. I don't know what your best before date is, but we all have one. And rather than die and leave a bunch of problems behind and have no money, come back to the family, you can change that. All you need to do is take control of this function. All right? Now, the wealth creator is the person that deposits money into a policy or a system of policies. And throughout the course of their lifetime, they're accessing policy loans. Now, the green line represents your cash value. This continues growing uninterrupted. And throughout your lifetime, you're going to need access to money for a wide variety of things. Whether you would have otherwise paid cash for it, leased it, or financed it, you're now going to utilize your own system. You take out a policy loan, you make repayments on your schedule, not anybody else's. You're the one that controls the repayment schedule of policy loans. And when you repay your policy loans, you get to re access everything that you put back in. But during the entire time that you had a loan balance, you had an increasing cash value balance uninterrupted, isn't that good?

Now, if you're a business owner and you're making money, you likely work with a chartered accountant. And as an extension of our team, we have Tim Dawson, who's a chartered accountant. He's a senior partner with M and P here in Canada. And we also have Frank Abate, who's a trust and estate planner, also a chartered accountant. And so it's always good to have one chartered accountant talking to another. But it's even better when you have a chartered accountant that's practicing this process. And so Tim's a wonderful guy and we do a lot of work with chartered accountants and in helping their clients, their business owner clients, to embrace this process. And we coach and mentor them on how to utilize it properly within their corporation so that they're maximizing not only, you know, taking care of not paying any tax on the daily cash value growth, that's a good thing. Being able to access capital without interrupting the compounding growth of your own money. So it's not an expense on the balance sheet, it's an asset. And so if you work with a chartered accountant, when we connect with you on your becoming your own banker call, one of the things that we'll offer to do is connect with your chartered accountant to help them understand this process as well. And I can't thank Tim enough for the kind words that he shared here in his testimonial. And we really appreciate the relationship that we have with Tim and with M and P. Now let's talk about creating your own banking system through the use of participating dividend paying, whole life. First thing I want to touch on is Nelson Nash's five golden rules. Now, you heard me mention this earlier when I said Nelson had five golden rules. Here's the first one. Think long range. So you need to think three generations past your own. If you don't embrace this process and you don't implement this process in your life, you're going to continue to transfer money away from you and from every generation that comes after you. Think about that. Secondly, don't be afraid to capitalize. Is it not true that presently all of your money is flowing through the books of someone else's bank? How soon do you want to change that? Don't be afraid to capitalize your system. The more capital you put into your policy or your system of policies, the more capital you get out. It's ridiculously simple. It doesn't need to be sensationalized. Don't steal the peas. Everybody remembers that from the grocery store example. Don't do business with banks. Every time you borrow money from a commercial bank, you're contributing to inflation. Whenever you borrow money, the bank creates money where no money existed before. That's why if you think about it, think about what you paid for a candy bar and a can of pop when you were five years old. Now think about what you would pay for that same candy bar and that same can of pop today, even though it costs way less to manufacture that product today than it did when you were five years young. It's not that the cost went up to produce the product. It's the value of the dollar was driven down. The reason is banking. The commercial banking system. The central banks have created one of the biggest financial messes that we've ever been experiencing in this world. Life insurance companies cannot inflate the money supply. I say that again. Life insurance companies cannot inflate the money supply and so don't do business with banks. The fifth golden rule is to rethink your thinking because it's so important to understand this, I'm going to describe what Nelson talked about as the four characters in the financial play. So the first character in the financial play is the depositor. The second character is the borrower. The third is the banker. The fourth is the bank owner. Now for most of you on the webinar, we have 73 people on the webinar right now. For most of you on the webinar, you're only two of the four characters in the financial play. You're the depositor because your income is deposited in the books of someone else's bank or you're taking money down to the bank and depositing it there to make payments. You're the borrower because you're accessing money. Even when you're paying cash, you're working with borrowed money. You're not the banker because when you need access to someone else's pile of money, you have to go through the banker. And the banker determines who gets that access. And you're not the bank owner when the bank declares profit, and we know that banks are making record profits in the lowest interest rate environment that we've ever been in. Isn't that interesting? And when profits are earned, the stockholders, the bank owners, they have an expectation of receiving a share of that profit. So if you can become all four characters in the financial play, you're the one that's going to accumulate wealth and more importantly, keep it in the family. Isn't that good? Alright, I want to talk to you a bit about a couple of existing clients that are just awesome. Now, I'm going to bring up a different part of my screen share here. I'm going to start with Alan and his family. Now, Alan, he heard me speak in a presentation just like this one. And when he had the opportunity to get the book Becoming youg Own Banker, he eased on over to the website, got a copy of the book, scheduled a call, he implemented the process and here is what he's been able to achieve. I just want to show this to you because it's so powerful. Bring this up here for you. So, Alan, let me just share with you a quick excerpt from what they've been able to achieve. So once they began implementing this process in their life, after three years of building their policies, they had already acquired enough cash value that they could withdraw enough money to pay off the bank mortgage on rental real estate properties 13 years early. I say that again, 13 years ahead. Of schedule. That was a huge accomplishment, knowing that they were now using IBC and practicing it as intended. When their oldest daughter and son in law decided to purchase their first home, they were able to talk to their parents, to Alan and Janet. And Alan and Janet accessed a policy loan to purchase that property. So now all of the money is flowing back to the family versus flowing away from the family. So rather than their oldest daughter and their son in law making payments to another bank, that money is now coming back to the family. Thus the idea of keeping more money in the family isn't that good. And so that's just one example in this case, you know, Alan and Janet, they've accumulated a large portfolio of real estate and now they own that portfolio free and clear. And so they have all that money flowing back to the family versus flowing away. Now, second is David. So David again was someone who completed a class just like this one a few years ago. And here's the question that he asked me at that time. He said, can you take a look at my financial situation? Can you help me to implement becoming your own banker in my life? And I said, yeah, we have a meeting scheduled just for that purpose. And he attended that meeting. He implemented the process in his life. And here's what happened with Dave. So let's go up to Dave here. So in Dave's circumstance now, he's been practicing this process for over seven years. And two years after opening his first policy, they took basically paid off the bank loan on his wife's vehicle. They redirected the payments that would have otherwise gone to a commercial bank, back into their own family banking system. Three years later, in year five of their program, they took out another policy loan. They skipped the bank entirely and they used the money to buy a brand new suv. And now seven years, after seven years, their mortgage came up for renewal. And instead of renewing the mortgage with the bank, they took out a policy loan from each of their five policies in their family and they paid off the mortgage completely. Those are just some of so many examples. Now imagine if you're Dave and you're sitting down thinking, gosh, how am I feeling after doing this? He communicated to me that exactly what we strive to achieve, which is a very peaceful, stress free financial life. And so if Dave can do this, if Alan and Janet can do this, who else do we have here? Justin, Being able to finance one's own purchases without paying interest to a bank is great.

If you think about their examples and how they were able to utilize this process in their own lives. I want you to think about your own financial circumstance right now. Think about all the principal and interest that you've paid to someone else's bank up to this point in your lifetime and how life would be different for you financially if you had that money flowing back to you versus flowing away. Type into the chat window. I want to hear about how that would make you feel. Please take a moment to do that. Now, I'm going to take a quick second here and just now we talk about vehicles, but I don't want you to just think about cars. I want you to think about anything that you would be spending cash on that you would lease or that you would finance in your life. Cars is a simple analogy that people tend to resonate well with, but we understand that for most people in their lives, car payments never end. Now, before I dive a little deeper into this example, if you find yourself thinking, okay, this process of becoming your own banker is something that I want to know how this can work for me. We have a becoming your own banker call designed just for that purpose. If you're asking, hey, Jason, can your team take a look at my financial situation and help me understand how to become my own banker, the answer to that question is yes. You're going to receive an invitation to schedule a becoming your own banker call. It's included with the webinar. Don't bring any money to that meeting. Nobody's going to ask you for any. The whole purpose of that meeting is to help you understand how this process can be implemented in your life. And I'm telling you, it's going to be a valuable use of your time. Now if you go through that meeting and you enjoy the conversation and you think there's a basis to move further, that's great. And if you don't, as long as you leave happy, that's okay too. All right, so each of these methods in car payments involves a permanent transfer of money away. The first method is leasing, so we call that a no purchase payment plan. You, you're making a bunch of payments, but you're never buying anything. The second is financing. That's a post purchase payment plan. You don't own anything until your final payment. The third is cash. We call that the pre purchase payment plan because you have to save up money on the books of someone else's bank and then withdraw it all, transfer it all away from you, and you still achieve the objective of buying the car. But everyone else got all your money. With each method above, who, who's getting all the Money, the banks, someone else. Now, a couple of questions. How many vehicles have you and your family purchased up to this point in your lifetime? So let's go ahead and type that in the chat window.

Okay, we've got six, two. So that's eight. Another eight is 16. Six is, what is that? 24, 22. Pardon me. Another six. That's 28, three.

Six. Okay, so I'm gonna stop at 50 cars here. Now let's say that the average purchase price of a vehicle is, I don't know, let's call it 25,000 bucks. So let me just take out my trusty iPhone calculator and let's go 25,000 bucks. Over 50 vehicles, that's $1.250 million that's been transferred away permanently.

How many more vehicles are you and your family going to purchase throughout the remainder of your lifetime? Ask yourself this. From all the vehicles that you either paid cash for, leased or financed, how much money do you have from those cars? The answer is none. You transferred it all away. People are likely to spend more money financing vehicles throughout their lifetime than they will ever save for retirement. Isn't that scary? Now, in my own vehicle example, I just want to share this with you just to put some context behind it. So if you envision for a moment, we've been capitalizing policies, right? So we're putting money inside these participating dividend paying whole life insurance contracts. We're accumulating cash value that's growing on a daily basis uninterrupted. We have death benefit that's thrown in for good measure. And I decided in September of 2017 to purchase a Ford Explorer. The reason I decided on a Ford was because during the financial crisis, Ford was the only motor company that did not participate in any of the TARP bailout money. And in fact, the Ford Motor Company has several billion dollars of cash value inside of dividend paying participating whole life policies. And so I decided that I wanted to buy this Ford and so I could have paid cash for it, I could have leased it, or I could have financed it. Those would have been my three options if I had known nothing about becoming your own banker. I decided to take out a policy loan. So I contacted the insurance company, I took out a policy loan. The only two questions that they asked me were, would you like us to electronically deposit the money in your checking account or would you like us to mail you a check? Now type into the chat window, is that an easy way to access capital? I took the policy loan. I didn't interrupt Any of the cash value that had accumulated in my policy, which in this particular policy was about 120,000. It had a death benefit, which is higher now. But at that time the death benefit was about 920,000. I took out the policy loan. The insurance company put a lien on my death benefit for the $55,000 loan. But all of my 120,000 in cash value continued growing. So when I drove that vehicle off the lot, my net worth was going up, not going down. Isn't that good? I capitalized my system. I access policy loans. I decided to repay my loan on my terms, right? So it's my terms, not anyone else's. I set my interest rate at 10%. The insurance company only called for at that time is about 7, 7.5% simple interest. I decided to repay my policy loan at a rate of 10%. The rate doesn't matter to me. It's all about the volume and it's all about who's getting the money. All the money's going back to my system. My insurance company that I'm a part owner of the insurance company is putting that money to work for the benefit of the owners of the insurance company. Think about the grocery store example, right? There's the difference. Rather than pay 57 cents or 60 cents for the canopies, I'm paying 62 cents, right? So rather than repay my policy loan with the amount of simple interest that the insurance company calls for, I'm putting in more money into the cash register so that the insurance company can multiply that money for my benefit. And for everyone else who co owns the company, no different than the grocery store. That's the click in the analogy that I really want everyone to pick up on now. I set the retained payment terms of the loan. The money came from the insurance company. So my own cash value kept growing uninterrupted. I own the car right from day one when I took out a policy loan. It's not reported to TransUnion or to Equifax. It's a private loan, a private contract, a private company. I like my privacy, much like all of you do. And I am in a position of total and absolute control. And God forbid if I passed away and there was still a policy loan balance outstanding. The death benefit wipes out the policy loan balance and the remaining proceeds go to my family. Income tax free. Income tax free. And my family still owns the car that I used the policy loan money to buy. Isn't that good? Who's got all the money? Who's got the car. What happens if I choose to modify or stop my repayment schedule? Imagine during COVID 19 people who had ready access to money from the insurance company. We had so many clients that called us and said we could reach through this computer and wrap you in a bear hug because we know we're going to be okay. We can access policy loans and we control the repayment schedule. Now imagine all the people who have mortgages, car loan balances and they don't possess the gold so they don't make the rules. Yeah, the commercial banks extended payment deferral, but who do you think is coming out on top in that transaction? The banks are all day long. Whereas if you had money inside of policies and you were able to access policy loans, you're the one that controls the repayment schedule because you're the one that possesses the gold. And whomever has the gold is the one who makes the rules that helps create a peaceful, stress free financial life. And I'm only talking about one car. I'm not talking about the mortgage that we recaptured that was originally amortized over 40 years. We recaptured it 33 years ahead of schedule. I'm not talking about recapturing all of the corporate overhead, including all of our team members wages, all of our office expenses. All of that money is flowing back to the family versus flowing away. That creates a very, very peaceful, stress free financial existence. Now the other thing I want to describe, and some of you may have heard me talk about this before, is the unseen of becoming your own banker. Because I have this growing pool of financial value and opportunities are constantly tracking me down. That's something that R. Nelson Nash used to say, God rest his soul. He used to say when you have ready access capital opportunity will track you down. He couldn't have been any more accurate. I'll give you an example. So during COVID many people began to take advantage of the convenience of Amazon. This business called Amazon, you know, E commerce in general represented about GOSH, 2% of overall retail sales across the globe. Imagine what that percentage has jumped up to now. And when we get the all clear from COVID I highly doubt that the people who were taking advantage of this convenience are going to return to the old way of buying things. I had an opportunity to invest some capital in an Amazon store, an existing store. So the store owner approached me and said, hey, I've got an opportunity to purchase some product and earn some really good margin. I just don't have all the capital because it's tied up in products in My store. Would you like to participate in this opportunity? I had ready access capital Opportunity tracked me down. I decided to take advantage of that opportunity. Here's what happened. I said, look, I'm going to lend you the capital, but I'm only going to do it on one condition. We have to split the profit 5050 and if you like that arrangement, we'll keep doing it. How does that sound? So the store owner said great. So I took out a policy loan. So remember I have cash value in my policy. I'm not interrupting. One penny of that cash value. I called the insurance company, I said I'd like a policy loan for 20,000 bucks. They said absolutely. Do you want us to mail you a check or electronically deposit the money in your account? So I got the money electronically deposited, I lent it to the store. They purchased the product three months later. We sat down to tally up the sales and the profit so we could split the profit 50, 50. Here's what happened. When I took out that policy loan, there was simple interest that began accruing on that policy loan balance. Now if you know about simple interest, you know that it's calculated daily and it compounds once a year. So three months later I had $330 of simple interest that accumulated on that policy loan balance. When we added up the sales and the profit, my share of the profit was 2,469 US and so my carrying cost on the policy loan was 330 bucks, which is a tax deductible expense to me because I used the money to produce taxable income. So in this case, how did I do on this transaction? I talked to the store owner and I said listen, I'd like to do this again. How does that sound? He said, sure. Three months later, we just completed our second three month period and my share of the divisible profit was just over 2,500 US. So how am I doing? I used the life insurance company's money to take advantage of an opportunity that tracked me down. And I'm producing this 24, 2,500 plus US dollars on a quarterly basis. I think I'm doing okay. So naturally I asked the store owner, how would you like another 20,000 to add to the equation? He said, this sounds good to me. I've never had such easy access to capital. So this is the unseen of becoming your own banker. Now let's not forget my total cash value in the policy is still growing uninterrupted on a daily basis. That cash value growth is 65 bucks a day, every day. So that's what enabled me to add more capital to the equation. So I'm taking financial energy away from the commercial banking system and I'm adding financial energy back to my own banking system. Isn't that good? Type in the chat window if you think that's an awesome, awesome example of how to take advantage of opportunity that will most certainly track you down. Think about a time in your life when an opportunity tracked you down and you didn't have ready access capital to take advantage of that opportunity. You can change that situation.

Isn't that good? All right, so let me just share this. One of the most common questions again that I get asked 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 appointment. It's designed specifically for that purpose. That's the process of getting started. That's your next step, is to schedule that call. Now, you're going to receive a link to book that. So make sure you check your phone. You may get it in a text message. Check your email. That's where you're going to find it. Now, I want to share with you, you don't have to purchase a policy or a system of policies from us. There's lots of great people that you can work with. But I would beg you, please don't try to do this yourself. Households and business owners who do this right, they all have a good coach and I recommend getting a coach. And when you choose who you're going to work with, here are some things that I would invite you to think about. Firstly, you've got to be careful about the life carrier that you place your policies with to ensure and ensure that your policies are designed properly. Secondly, most people who are selling life insurance do not have expertise in this area. They might know a lot about the tool, but if they don't know how to use it, not only is no good work going to get turned out with the tool, but you're likely going to break the darn tool. So make sure that you work with somebody who specializes in the process of becoming your own banker. Thirdly, 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 completed a course of study, they've been mentored, they're authorized by the institute to practice this process, and most importantly, they can demonstrate to you that they practice this process in their own life. Now, our team at Ascendant, our team at Ascendant are the very best at coaching and mentoring households and business owners who are making money on how to implement this process. And, and so I would invite you to schedule your becoming your own banker call. You'll be glad you did. You'll be paired up with an amazing, experienced, authorized practitioner on our team to help coach you and guide you through this process. Now, before we dive into some Q and A here, I want to just also share with you that the reason that you should do this in your life now is that you deserve the outcome.

Now.

The longer you wait, the more you penalize yourself. What's the cost of doing nothing? What's the cost of one more year, 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 the webinar. Now. If you're committed to this, click the link that you received. Schedule that call. Are you committed? Raise your hand. Raise your hand if you're committed. Let's see some hands go up. We've got 69 people left on this webinar. We're up to 14 people who have raised their hand. 17. Come on. 20. 22, 23. Raise your hand if you're committed. 27. 28. 29. 30. The list. Keep going. Let's go. Raise your hand if you're committed. If you haven't raised your hand yet, I'm talking to you. If you're committed, raise your hand. There we go. I want you to picture a day when financial control is in your hands. Not the bank, not the government, and not some risky stock market. Picture a day when your spouse says, thank you for not making me wait 30 years to enjoy the lifestyle 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, relax when you want to relax, and serve when you want to serve. I'm going to leave you with this before we jump into Q and a.

I was 24. I'm 46 this September. I was 24 years young. I had all my belongings packed in my Chevy Beretta. I was ready for that three day journey from Timmins, Ontario, to Edmonton, Alberta, for a new life. And I was standing in the foyer of my dad's home and he wrapped me in this big bear hug. And he said, son, I'm really proud of you. Drive careful. Call me when you get to Edmonton, 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 speeding ticket. And when I arrived in Edmonton, I didn't call my dad. I got straight to work. And three weeks later, I was sitting down to dinner with my team and I remembered to call my father. I excused myself from the table and I made the phone call. And my stepmom answered the phone. And when I asked to speak to my dad, she said he was in the bathroom. Did I want to wait? And I said, no, I don't have a half an hour. Can you please let him know I apologize for not calling sooner. Things are going great here in Edmonton and I'll catch up with him as soon as I can. The very next morning, I was paged to pick up an urgent phone call. And when I picked up the phone call, it was my stepmom. And she was frantic. She told me that my dad had passed away earlier that morning, suddenly and unexpectedly. And I was, of course, completely devastated. Now, I know it's human nature to procrastinate and that we always think there's going to be time, but what I learned is that you can't wait. When my dad died unexpectedly, I felt lost and full of regret that I had let him down. Since then, I've dedicated my life to helping people just like you to live a fulfilling life now so that there are no regrets later. You deserve a life of no regret. 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 so much to everyone who attended the webinar. We're going to open it up for Q and A, so just go ahead and type in the question window.

Let's bring up those questions.

Let's bring up those questions.

All right, so we've got four in the Q and A. And then I'll dive into actually the chat window here because there's quite a few great, great questions here.

Okay, so one of the questions was, what is the coaching cost? So we do not. We're not a fee for coaching firm. So coaching is included in what we do for our clients. We get compensated when a policy is issued. The life insurance company has a compensation schedule that they put into place. And we're paid very well for getting those policies put into place with the life insurance company. And all the coaching and the mentoring is included in what we do for our clients. And so there's no additional cost associated with that.

Can you buy a policy with a one time large upfront premium? Unfortunately, that's no longer possible, but thank you for asking.

Okay, so let's go into the chat window.

So I am retired. I have money in my corporation. Would your strategy help me? So bipin, I hope that I pronounced that properly. Please forgive me if I didn't. The answer to your question is yes. Schedule a call.

I'm Kim. I'm 60 with no dependents and looking for passive income for retirement income. Would this work for me? Yes.

Tisring. I hope I pronounced that right. Can you give me some other examples of IBC benefits? Not the Amazon example you showed, just a plain example. Lifetime policy with ibc. The answer is yes. Schedule a call and we'll show you as many examples as you want to see. Is it possible or. We already answered that. Vince says very good webinar. Thank you, Vince.

And someone indicates Jason has her unequivocal. I think that's. Is that Sandy?

Yes.

Thank you, Sandy.

You're awesome.

I can't see the name of who typed this? Amy. So Amy types all bold, so she must have been yelling at me. How can you prove this? Well, Amy, I'm not sure I understand your question. How can I prove what? What specifically are you asking me to prove?

Let's see.

A ton of great comments, people saying great webinar.

Can registered investments be transferred to fund a policy? So this is a very good question that we receive often. The answer to that question is, is that registered investments can be a source of premium for your system. But it's very important to make sure that you're consulting with your accountant, with whomever is providing you with designated tax advice. Because we are not chartered accountants, we're not providing tax advice. We do have chartered accountants available on our team to communicate with your accountant. We're always happy to make that conversation happen. But it's important to really make sure that you understand the tax consequences of deregistering money. Because there are always tax consequences when you do that. So just important to understand. But yes, that can be a source of premium. One of the questions here, great question. What mutual insurance company do you work with? So we work with Equitable Life of Canada.

Okay, let's see some other questions here. Oh, this one's really good. So this question is from Tim. So Tim, excellent question. How long must you wait before you take out a policy loan? So based on how the policy is designed, there's a accessible loan amount that's available immediately when the policy is put into place. That's why again, it's important that if your objective is to have access to capital immediately, that you're working with a life carrier that provides that access because some life carriers do not permit policy loans until after the first year. So. Excellent question.

Let's see.

Keep scrolling through. Hey, Richard, if you're on the call, Richard Canfield. Richard, my colleague from coming to us live from.

British Columbia, also known as the wac. Richard, thanks for being with us. Can you see the chat window? Richard, are there some other questions that I can invite you to help dive into and chime in with me on?

There was some around policy loan rates. So one of those had a response there that there's a current loan rate around 6.2 with one of the companies.

To kind of further detail that. I mean, policy loan rates do change and adjust depending on the life carrier and typically they kind of reassess those just generally speaking about one time per year and they do their annual assessment and for the most part they make that. It kind of applies to existing loans, generally speaking, if they make an adjustment downwards or upwards or whatever, if there's an existing loan on a policy. So as an example, I had policy loans out on one of my, on several policies with one company. They were previously at 6.7% and they just received that drop to 6.2 and it was kind of corresponding across the board to all of them. Yet I have another policy with that same company because it was actually acquired many, many moons ago when I was just a young lad.

And that's on what I would refer to as their quote unquote old system. And that one has a loan rate that's currently at, I think, geez, I think it's like 4.7 or something. It was tied to prime based on when that policy was issued. So. So again, there's just different structures there. The key thing is really all about control, as Jason identified. But yeah, good questions about policy loan rates.

Let me take. Hey Rich, let me take you back to the grocery store example.

Do it.

So if we're purchasing cans of peas wholesale for 57 cents and we can sell them to captive customers at 60 cents.

And we decide as owners of the business that we're going to put 62 cents back into the cash register. Did we get back all the money that we paid for the can of peas to begin with?

Yes.

And then do we have more money to go buy more cans of peas?

Yes.

Does the rate matter?

No, no. Has nothing to do with the rate, it has everything to do with the process of who's getting the money. And so if you co own a business that has never failed to produce profit through the use of money, then how much capital do you want flowing through that business?

As much as I can get into it.

As much as you can get into it. And so if you, I'm not saying you rich or anyone on the webinar, I'm not referring to anybody on the webinar. I'm just saying that in general, if you get focused on rates, then you are right in the banker's back pocket. Yep. Because the banker knows that it's not about the rate, it's all about the volume and more importantly, who's getting the money. And so when you're focused on the tool, the dividend paying, participating, whole life insurance policy, and you get laser focused on the tool and you lose sight of the problem and the solution to the problem, that's where your brain's going to go. Your brain's going to go to rates, to, hey, what's the dividend history of the company and how much can I expect to be paid in the dividend and what does it cost me to access a policy loan and all these other things. None of that stuff matters if you can't tie back to how it's helping you solve your problem.

So unless you understand the problem, the solution just doesn't matter. And with all due respect to all my amazing colleagues out there who sell life insurance, this is, we're distinguishing between a product and a process. So most of the questions that we are, I'm seeing here are product focused. And what's super important, because this is most people's first exposure to the process, is that I would invite everybody on the webinar, ask yourself, who is the banker in my life today? How much money has flowed through the books of someone else's bank? Yet I was the one that did all the work to earn that money. How much of that money has been transferred away from me? Am I committed to changing that? And if I'm committed to changing that, and I understand that the solution is becoming your own banker, the policy is just a tool that enables me to implement the solution, nothing more. Isn't that good?

Absolutely.

All right.

And you know, since that we've had a couple of additional comments come in and you know, there's, so there's one here, I think this was asked, you know, a slightly different way earlier is do you recommend getting a corporate or a personal policy? Interesting enough, Jason and I. I think was this last week, Jason, we just recorded a podcast episode on that that's in post production.

Yeah.

And so it's going to speak to that. And the reality is, I mean, everyone's situation is different. There's advantages to a corporate policy, there's advantages to a personal policy. It really just depends on how you're structured as. And some, you know, in your situation, if you have a corporation, it may still make sense for you to have the personal policy, and it might make sense for you actually have both. So it really just depends on the customization that's necessary and what are your objectives and then how is that money flowing and how is it being protected in the process as well. So there's some intricacies there. And that's part of the one on one conversation that you get to have with a coach.

That's awesome. Thank you.

And another good one here that came in is what are you foregoing when you have an outstanding loan? That's an interesting way that that question was phrased.

Like, if you're talking about an outstanding policy loan, then what you're foregoing is the migraine that you used to have when you were dealing with a commercial bank.

And you don't have to take a Tylenol. So you're foregoing the absence of control. When you have a policy loan, you're in a position of total and absolute control and you're not giving up the interest that your money is still continuing to earn inside the policy on a daily basis. Whereas if you borrowed the money from a third party lender or an outside lender, then whomever has the gold makes the rules. Remember the four characters in the financial Depositor, borrower, banker, bank owner. When you implement this process in your life, you become all four characters in the financial play.

And one thing to add further to that is, as Jason identified earlier in the call, the insurance company's placing a lien on the death benefit that will eventually be paid. So we did a podcast recording recently with an author, Brian Bloom. He's a CPA amazing guy. He wrote a book, Confessions of the cpa, you don't have to or the Truth About Life Insurance. And in our conversation, one of the things that Brian said, and we had Jason and I both in stitches, he says, look, I went and bought a retirement condo for my wife and I so that we could live closer to our kids and our grandkids. It's like, well, I could have bought the condo a number of different ways, but when I took a policy loan And I paid cash for the condo. All I was doing was buying the condo from my future dead self.

I remember Brian saying that.

And so what are you foregoing? Well, okay, so you're giving up some of the death benefit that will eventually paid, but you're making a choice about when do you want to use the money? Do you want to use it while you're taking air into your lungs or when you're six foot in the grave? You get to decide. That's one of the beautiful things of the program.

Can you turn your webcam on?

It's on. I think. I think you gotta. You gotta like, you gotta maybe turn it on for me, but sorry about that. It's good you got all the controls there on one screen, so. Besides, I've got such a beautiful picture. I'm sure everyone's happy with that. Anyhow.

It looks a lot better than the ball cap I'm wearing right now. There's another good question here.

Oh, hang on. I'm going to get you back here. You're going to rejoin as a panelist.

Hey, Rich.

I'm back. I'm in the zone now.

You should be able to activate your.

Deal.

Okay. I'm working on says you cannot start your video.

I think the host has got to do something on it there.

Oh, man. Sorry about that. Okay.

All right, dude, we're good. So one of the questions I was reading there, I think was from. I think it was Leonardo, and I don't know if I got that correct. I might have read it inaccurately. Would you suggest I stopped my term life insurance policy and switch to whole life dividend policy? So. Absolutely not. You don't ever stop insurance that you have in place to protecting you and your family. Never, ever, ever cancel a life policy of any kind until you have something new in place that you physically received a contract, you've submitted the first premium, and you have a binding legal contract that protects you and your family at that point. And you know, would it make sense to consider maybe switching or modifying that plan? Or is there a way that you can use that term plan to maybe. Maybe you're already pre qualified for the thinking system style policy that Jason identified today. A lot of times we find that's the case. And so don't ever cancel anything until you've had a chance to have a really good, solid in depth conversation with the coach and you can really assess what you have to determine. Can we work with this? Is there a way that we can pivot, utilize, adjust, et cetera, with what's already here. So yeah, next.

Here's a good one. I understand that the insurance company is strong and well, but if ever the company became, I'm presuming he means insolvent, what will happen to our money? So that's an excellent question. There's an organization I would just encourage you to just ease on over, take a look at when you get a chance. It's Assurance ca. So when you head on over to Assurance ca, if you just go ahead and click on how am I protected? Then you'll find the answer to your question there. Thank you for asking it. That's a really, really good question. And life insurance companies, I'll just share with everybody for the benefit of this call. Life insurance carriers are the most financially solvent institutions on the planet. And so great question, az. Thank you for asking that.

Super good one. Another one is here. Have you ever had or ever, I think it's ever been denied purchasing a policy or ever been denied coverage? This comes from Mariva. Um, yeah, I mean we've had people absolutely denied for getting coverage. I mean it happens for any number of reasons. Sometimes that's a health reason and sometimes it's not. Sometimes it's around financial circumstances or something else. And so that's part of the coaching assessment that you're going to do is looking at based on circumstances. Does it make sense to apply for this individual or a different individual? And so one of the things that we've come to understand through our, our own mentorship with Nelson is that it's, if you want to do this, you know, all we need to do is find a body that you can insure. So we need two feet and a heartbeat. And we need a legitimate reason from the insurance company's perspective to have a, have an interest in getting the life insurance coverage on that individual. So typically that's within the family. It's, you know, generally pretty easy within a business. It's key employees, the business owner and that sort of thing. So, you know, usually it's not too hard to find a body to get it done on.

Excellent. Thank you, Richard. This question comes from one of our attendees. What info do I need to have on hand for the call?

So what I would encourage you to.

Have on hand is any additional thoughts or questions that came up for you after attending the webinar. That would be the first step.

And another great question here that was asked was, oh, where was it about the retitling policies to a trust? Would we recommend that we don't make general recommendations? The one thing that we do is so when we meet with you, we get very clear on how you're structured financially. We want to understand what specific financial objectives you have, how much capital is required to achieve them, what your timeframes are, how you're structured, and through the expertise that we have on our team, including trust and estate planning, that then we would certainly vet that. If that was a question of yours to say, hey, would you recommend doing this in my circumstance, after we fully understand how you're put together financially, then we'd be able to give you an intelligent answer to that question. But thank you for asking.

Another one here is around resps. So great question. Do you recommend again redirecting contributions you're already making for kids savings into this type of a program instead? And there's kind of a follow up here that says, yeah, well you get grants kind of for that. So that is true. You do get grants for the resp.

One of the things that Nelson identifies in his book is a lot of times with a lot of government sponsored programs, it's the equivalent of pointing the fox to guard the henhouse. And so the rules can change on a lot of those programs. The fundamental difference between an RESP and a PAR whole life plan is that one of those is designed to end in a short period of time and its only function is for one thing, and that's the advantage of education. The other one is a lifelong program that's always there. It sits with the benefit of your child or grandchild and the policy owner throughout multiple stages of life. With, you know, as an example. You know, Jason and I are both fathers. You know, my daughter's about to turn three next month. I've got a policy on my daughter and a policy on my son. I will get more in the future and I get to control the access of that plan and teach my kids how to utilize it over a lifespan. They will get the benefit of having it when I'm gone. And then when they're gone, there's an automatic corresponding tax free chunk of money that's now gone through three lifespans that lands into the hands of a grandchild that doesn't even live yet today.

I think though, you just can't do.

That with an resp.

Right. And in addition to that, Richard, so again, you know, going back to the beginning of the webinar when I was talking about this is not, this is not an either or should I put money into an resp or should I become my own banker? So we're describing a process and trying to compare that to a product. A registered education savings plan is a product. It has its own characteristics. The one thing that I will say in addition to what Richard described is that when you implement the process of becoming your own banker, and part of that implementation includes the objective of having enough money available for your children's post secondary education that you're going to receive all the benefits of an resp or all the advantages of an resp, but none of its disadvantages. And so that's what I think is the big key here. So again, it's not an either or, it's an as well as. So if you want to put money into an resp, that's great. As well as becoming your own banker. Hope that helped.

Yeah, that's really good. Well said. I love how you put that. Jason, another really interesting couple of good questions coming. These are great questions by the way. Thank you for everyone for participating so effectively. It's awesome. Can you increase premium in the future or do you need to buy a new policy? That's from AZ Torres. So that's, you know, it really just depends.

Every policy has a minimum and a maximum kind of to it. And so there is a good amount of flexibility and wiggle room within these the way that we structure them. And so if you've already funded the maximum for the given year that the policy will accept, well then you wouldn't be able to put more in for that particular year. In which case if you wanted to contribute more, the way that Nelson would have trained us to do so is to, is to use our brain power, that squishy mass in between our ears. And look at, okay, if I really want to get more money into premium, then how would I do it? The reality is for most people it's looking at getting a new policy at that stage. But there's often periods of time where you will still have some room available in a policy that you can continue to contribute. Another question here is can you put a policy on a person outside of the immediate family, in this case a great nephew. Well, that's interesting. I can say I've never done a policy on a great nephew. Jason, do you want to speak to that?

Oh, for sure.

Here, let me do this. Let me just show, let me show.

My screen here because I think this is really going to encapsulate it really well.

You bring up the family banking picture.

There we go. Okay, now I hope everybody can see this. So this is in the family we have and you know, we help our clients who want to do this in their lives too. We host an annual family banking meeting. And at that banking meeting, so you can see all the kids here, I've got policies on everyone in this picture. And so to answer your question, if there's a beneficial interest there, the answer is yes. And so we have, we now very happy to celebrate. So we have 49 policies in our family banking system. And through that, the whole purpose is to keep the money in the family and all of the children. So children have much more neuroplasticity than adults do. That's why it's so beneficial for kids to learn a new language at such a young age. So our children pick up on this quicker than the adults do. And at this most recent family banking meeting, my son Jackson, we celebrated his achievement of repaying a policy loan. And he's already, at 11 years young, he's using language like it's all about keeping the money in the family. And.

You know, I need to access money, so I'm going to request another policy loan. And so it's just so important to recognize. And again, I'll take you back to the grocery store example. If my children and my extended family, if I was telling them, hey, I've taken out policy loans, but you know what, I don't have any intention of repaying them, well, what lesson am I teaching my kids when they receive death benefit from my wife Rebecca and I, we're teaching them to not be good stewards of the family banking system. And through this family banking meeting, we're reinforcing all of the principles of the process and we're teaching everyone how to keep the money in the family. And so the more policies you have, the more lives that you have insured, the better, because windfalls are going to come. Windfalls will come, people are going to pass away. And when they do, a big windfall of money is going to show up when it's needed the most and it's going to replenish that asset back to the family. Isn't that good?

On that note, Jason, I just want to, you know, add. So Nelson, you know, again, Nelson Nash, he left us. He graduated, you know, not quite two years ago now. And when Nelson passed, there was still three policies that he owned on three ex business partners from real estate deals he had done like back in the 80s that he didn't even speak to or communicate with. After those deals were over, once the beneficial interest was established to initiate those policies, it couldn't be taken away. He owned and controlled that private contract. Well, those policies outlived Nelson. They're still enforced today. And someone in Nelson's family line is going to receive those death benefits and before that happens, they have access to all the cash been accumulated.

Very good.

You just can't top anything like that. Yep.

And I in, in all the businesses that I have an ownership interest in, that's one of my criteria for becoming a co owner in any business that I'm involved in. I have to be able to ensure the life of the key people that are in that business.

Otherwise I'm not interested.

Just looking for.

Another body that represents a significant advantage. And here's a great question. What kind of insurance for ibc? Whole life or universal? What's the difference? First of all, thank you. I think it's Marivi. I hope I pronounced that right. Thank you for asking a really good question. I'll just say this. I've personally never illustrated, purchased or sold a universal life insurance policy. And following the good guidance of R. Nelson Nash, I would certainly never recommend it for the implementation of becoming your own banker. The universal life insurance is a product, it's a tool, it serves a purpose, but it is not suited or suitable for implementation of the process of becoming your own banker. It does not possess the characteristics that are required in the tool to implement the process. And be happy to have an expanded conversation about that. Marie voice It's a little bit more than the scope of this webinar, but that's really all that I would say about that. But thank you for asking a really good question.

And if you want to read further as well, if you've ordered a copy of Becoming youg Own Banker, the book, I mean, Nelson himself identifies and expands on it a little bit on page 39 of the book. So he, he expresses his own thoughts on universal life and why he would never recommend or sell that type of a product basically to anybody. Yeah, so yeah, so yeah, for the purpose of ibc.

And it's not just whole life, it's participating, dividend paying whole life. You can go buy whole life insurance that is non participating and that is not what we are talking about and what Jason's identified in this call.

Yeah, and I'm going to hop over to the question and answer window because there's some really good ones here. Jason, is this solution appropriate for people with existing debt and no savings or investments? So the answer to that question is maybe it would be important for you to schedule a call because you know, there might be some money available that can be found in your financial situation that you may not be aware of. And so it'd be important to have a fresh pair of eyes. Just take a look at how you're operating financially right now to see if there is additional cash flow that can be made available to capitalize your system. Think about the grocery store, right? You have to capitalize it. You got to buy the merchandise.

Okay. An anonymous attendee. That drives me nuts. Don't be anonymous. Tell us who you are. Hi, could we go back to the Excel spreadsheet you were showing? Did you include the transaction cost of purchasing the policy? Par policies are very expensive, so I'm not sure if the income made from the loans will offset the cost.

Let us know who you are and I'll be happy to answer your question. I don't talk to anonymous attendees.

At death. Did the beneficiaries receive both the cash value and the death benefit? Great question, Richard.

The answer is the cash value is a representation of the death benefit that will eventually be paid. So wherever the cash value is in any given day, it's the present value of what the future death benefit basically is. So the insurance company is growing the cash value for the purpose of paying the eventual death benefit. So when the death benefit is paid, you receive the death benefit and the cash is stays with the life company because they were using that for the purpose of paying it. If you have an outstanding policy loan, that loan gets paid off with the death benefit proceeds first. The net remainder is slid over tax free to the very happy beneficiaries.

Yeah, and I would say in addition to that.

You know, based on what you described there, you can never pay in to the policy what the insurance company is going to pay out. It's impossible.

You will never pay in what the.

Insurance company is going to pay out. And remember that the total cash value of the policy must grow to match the total death benefit. And you could just never pay in what's going to get paid out. And so it's just an amazing warehouse for your wealth.

Do you have a representative in Manitoba? Thank you, Neil. The answer to that question is yes. So be sure that when you get your link to schedule of becoming your own banker call that you click through that link and get that call scheduled and we'll make sure that you're paired up with someone who's licensed in that area to assist you. What happens if the insurance company goes down? So as I mentioned earlier, Curtius, great question. Just ease on over to the website. Assurus CA that's Assurus A S S U R I S CA and just click on the how am I protected? Button, and that'll be great.

Do you use companies other than Equitable Life, that is Participating policies such as from Manulife, Par. We utilize a number of different carriers. The answer to your question, Brad, is yes. And so we just go through an assessment just to determine which company would be best. But ideally, we want these policies placed with a mutual life company for a variety of advantages. There.

Let'S see.

There's a number back in the chat window. Okay, go ahead.

Go ahead, Rich, hop onto that. We're gonna, we're gonna take questions here for another five minutes and then we'll give everybody, everybody the rest of their evening back.

Here's a couple good ones. So is there excess premium room? If there is excess premium room available on a policy in a given year, does that extra amount carry forward to the following years? The answer is no. Generally not.

You have a minimum and a maximum set for the year. If you don't use it, then you're into the next year and you have the same minimum maximum the following year. When is underwriting done? This is a really good question from Savio. When is the underwriting underwriting done? Are approvals taken first for these products? I think what that refers to, and I'm going to correct me if I'm wrong, is there are types of insurance products primarily when you're getting like bank life insurance, like on a mortgage product or something, where that type of coverage is underwritten at the time of claim. In other words, someone's died and now we're going to go and check, you know, we're going to dust off the paperwork to see if you actually qualify. Right. That is not the case here. You go through a thorough underwriting process with the insurance company. It's like a home inspection. They're doing a home inspection on you because they want to make sure that they're not buying a lemon before they grant you the policy. So all the underwriting is done at the time of application?

Yeah.

Next one here. Do you use your family bank for all purchases, such as eating out for lunch and groceries, or just the larger ones.

For everything.

And.

And Jason has an amazing team of people to help him manage the process of tracking all that stuff. I, however, do not, Rebecca. But that's mainly just because I'm too lazy to do the associated tracking available with it. So I usually stick with the large purchases because my life is a lot more chaotic than Jason's.

Thank you, Rich.

Daniel asked, do you have a representative in Quebec? Daniel, the answer to that Question is yes. And in fact, you know, part of our rapid business growth includes, you know, being registered in the province of Quebec and we are expanding our team there. But we do have an existing representative in Quebec.

Are you in Ontario?

Yes. So we are licensed coast to coast. We're registered in New Brunswick, registered in the province of Quebec, but we serve Canadians coast to coast. For everybody who's curious.

Awesome.

Another good one here is what are the minimum and maximum yearly from Meg? So the minimum and the maximum is going to depend on the size of your policy and that's going to be customized based on you. So it really ranges based on individual's age and a variety of factors. So it's really going to be something where you'd have to speak to a coach on that kind of. Specifically.

Can you take. I think the question is, is there a limit to how often you can take a policy loan? The answer is no. You can take policy loans as long as there's availability for the loan. And again, there's the odd company where they might have a restriction on taking policy loans in the very first policy year, but for the most part that's not the case. As long as there's availability and there's equity in the cash value contract that you can access, then you would be able to take up as many policy loans as you would like.

And then I believe it's may, I hope I pronounced that properly. Which city? Quebec or Montreal? So I think that's in relation to the question about a representative in Quebec. So the representative in Quebec is licensed in the province, so that representative can assist residents anywhere in that province. Great question.

A great question here from James. Hi. I had asked the question about the transaction costs in your examples and I asked the second question about the size of the policy that would be needed to generate enough income to offset the costs. And so, James, that's a great question as it relates to me personally. All of the details about the policy, the premiums I deposit, etc. None of that matters to you because it's not going to help you to achieve your own objectives. What I'm trying to demonstrate there is to show you the process. And so what we would need to do in your case, James, is we'd have to take a look at what financial objectives do you have, how much capital do you need to achieve them, what are your timeframes? And then we would engineer the policy or the policies and you would know exactly how much premium is required in order for you to generate enough capital to achieve your own objectives. And so thank you for asking that question. But that's more personal to you and should be focused on you, not on me.

What else?

Did have a nice little note from Amanda that she celebrated equitable life turning 100 this year, becoming a centurion as an insurance company.

That's right.

That's good.

All right. Well, I want to thank all of you. We still have. We had 50 people. Well, we still have 50 people on, but we had like 68 people right after the webinar who stuck around for most of the Q and A. Can't thank all of you enough again for being with us. So, you know, if you're committed, if you want to do this, you know what your next step is. And so make sure that you schedule your call. Get your copy of Nelson's book. You would have already received the link. Just click the link. We sell it for less. We'll ship it anywhere in Canada. Make sure you get your hands on that book. You'll be glad you did. But thank you. I wish all of you an amazing rest of your evening and we appreciate all of you for attending and thank you for the wonderful feedback on the webinar. Rich. Can't thank you enough for helping me in the Q and A. You're awesome. And we'll look forward to the next webinar. Be sure to visit ascendantfinancial Ca Again, I'm going to share my screen here. Be sure to head on over. Visit ascendantfinancial CA and when you get there, just keep an eye out for upcoming events. So you click the upcoming Event tab and you'll see that we presently don't have a follow up webinar scheduled at this point. There will be a replay. That was one of the questions. Yes, there will be a replay that will be sent out to everyone who enrolled and attended and to everyone who enrolled and did not attend. But be sure to visit our website, take a look at our wonderful team of people. You can click on any of these folks and just get a sense of who they really are and get to know them a little bit better. Thanks again, everybody. Wish you a great rest of your day and we'll talk to you all real soon. Thank you.

All right.