Becoming Your Own Banker | Life Cycle of Family Banking

Creating the family bank needs understanding. It requires discipline. It's a commitment that you're committing to, but it can dramatically change your life and beyond your fondest dreams. And it's a process. We're going to talk about the life cycle of the family banking system. I hear this from my clients a lot. People I talk to that and this is going to be a real story, as I said, of the family banking system. A family's journey. I hear this from people, they say, yeah, you know, this is great for her. And I, I read the book, I consumed a bunch of content because, you know, that's the first thing that we need to do is get ourselves educated. Like, I think I have a good grasp on how this concept works. But, you know, I notice a lot of the videos are kind of conceptual or they're, they're high level. I want to see it. What does it look like in action in the real world? So what are we actually going to cover? We're going to cover what we refer to as the problem. When I say the problem, I'm going to cover the problem. As in like where we started as a family. Think about your own situation as I go through that and we're going to talk about the solution. Well, what's the solution and what we've been able to achieve, what we've done so far and where we want to go, what we want to do, and more importantly, what you can do. We're also going to talk about thinking long range. So I'm going to take you into a journey of where we are headed, the problem, where we started, what we've been able to achieve, and where are we actually going with this process? And again, it's more about possibility. What is possible for you and your family by implementing this process called the family banking system? Before you learn something or before you build anything, would it be fair to say that it's pretty important to create a pretty solid foundation? Is that a fair statement? If you're going to build a building, we need to have a solid foundation. If you were going to build wealth, probably good also to have a pretty solid foundation from which to build your wealth. It's the same with implementing this process and learning how this process actually works. That's the foundation of getting started. People say, hey, how do I get started? I say, learn, educate yourself, work with a good coach. So we're going to lay a bit of a foundation first. And for some of you, again, if you've consumed some of our content in the past, repetition is our best Teacher, I'm going to share this in a little bit of a different way. But we want to lay the foundation and learn a little bit about what infinite banking actually is. And when I say infinite banking, becoming your own banker, the family banking system, I'm basically talking about the same thing here. So how to better understand ibc, the basics. Again, as I said, this is a little bit more of an advanced webinar. So if you have not watched our introduction to becoming your own banker, the infinite banking concept, you can go to watchibc.com I recommend, if you haven't done it already, to learn about who the founder of this process is. R. Nelson Nash. I recommend that you go to Nelson Nash film.com that's Nelson Nash film.com where you get access to a. I think it's a one hour documentary that was actually commissioned by Jason Lowe and Richard Canfield on who Nelson Nash was so people could know who he is. You can also go to the Ascended financial ca to access the books that we're going to share. There's also video and audio resources as well. So this is just a snapshot. We have a podcast called wealth without Bay Street. Obviously we have our bookstore, which I just mentioned, and then we have a ton of content, valuable content on the YouTubes. So let's move forward with the learning journey. These two books are really, really significant in my life. I'm sure most of you, if you haven't seen Nelson's book over here, if you haven't seen this book before becoming your own banker, you're going to get to intimately aware of what this book is. That came a little later. Rich dad, Poor dad by Robert Kiyosaki was actually the first book I ever read cover to cover. And that started a long, long journey of personal and business development where I became who I am today. And I feel like I'm just getting started. So that book really started me on a different journey when I really discovered that, holy smokes, you can actually learn and you can, you can transform yourself, you can become a different person. It just takes effort. The secret to success is never to give up. That's the key. Nelson's book came a little bit later in my life and I think it's just connected. You know, somebody's looking over me. I found this book for a reason and it completely radically transformed my life. And my objective is hoping that'll do the same for you. Anything that you do in life, it doesn't matter if it's this process, it doesn't matter what the objective is everything begins with the way that you think. If you think you have an opportunity, great. If you think you can do something, you're right. If you think that you can't do something, you're also right. This quote is really the essence of what we're here to share with you tonight. It's what the process of becoming your own banker, the infinite banking concept, is all about. It's not about how much money you actually make, it's about how much money you keep and how hard that money works for you. And this is really critical for how many generations. That's the key. For how many generations. This book right here was self published in the year 2000, 2000 and by Nelson, and it has sold over 500,000 copies since then. Why does that happen? It's ridiculously simple. And it's because it works. It's that simple. Now if you don't have a copy of Nelson's book, you have an opportunity today. Now, the problem, what do we mean when we say the problem? Is it possible or does it even make sense to start to think about or implement a solution if you're not clear about what the problem is? We need to figure out the problem first by describing the problem. What I'm going to do is I'm going to share a bit of a case study. So this is, you know, years back and leading up through our journey, this is kind of where we started. We had some unsecured debt and to service that debt alone, it was costing us just $400 a month. Now luckily that was not in the interest rate environment that we're in now. It would probably would've cost us a heck of a lot more. But at the time, 400 bucks a month, just going to interest, not making any headway at all on principal. $400 a month, just leaving. We had some credit card debt as well to service that credit card debt. $350 per month, just leaving. My family. We're working really hard, we're taking all the risk, we're liable for everything and the money is just walking out the door. We're working hard for the money and it is working negatively for us. Like that is. That's starting to sound like a problem to me. You're doing all the work and somebody else is getting all of that money and that money is being put to work for that family. We're working for somebody else. We are other people's assets. Think about that. This cash is flowing away from my family and flowing through the books of someone else's bank and working for that family. We all need cars. Almost any Canadian driveway that you. You go past in any neighborhood you're going to see, usually two vehicles. God bless my parents. They're amazing. I didn't come from wealth. I didn't come from a really solid financial background. And a part of my burden of responsibility is that I have aging parents. And so part of the reason why I work so hard is so that I can take care of my parents and so that I can take care of myself, so that my kids do not have to take care of me. Now, this is what we were doing in the past, and this is what most families do. And we do it completely on autopilot. We don't even think about the fact that our income is flowing in and it's flowing through the books of someone else's bank. I say that again. All of your money is being stored, and it's flowing to and through the books of someone else's bank. And all that capital has energy. That energy is being put to work for other families, not your own. It's absurd. And what do we do? Well, of course, we need to access that money so that we can finance the things that we need throughout our life. So we're financing things whether we're using our own cash or if we borrow from somebody else and make payments and pay interest. What do I mean by that? Well, if you use your own cash, you're not necessarily paying interest, right? Cause you didn't borrow money, but you're giving up interest that you otherwise could have earned on your own capital every single time you spend a dollar. So that means when you spend a dollar, the energy of that cash is gone out of your life. And every generation that comes after you, you're always dealing with interest. You're either paying it, or you're giving it up, or you're earning it by implementing this process. When you spend that dollar again, that capital and the growth opportunity is gone, and it's gone forever. Tell me if this looks familiar. Here's you doing all the work. Most people have mortgage payments, or you could replace that with car payments or whatever it is. Which direction is the money actually flowing? Is it flowing toward you or is it flowing away from you? If it's flowing away from you, that's a problem. Anything that has money flow away from you is a liability to you. Anything that has money flow toward you is an asset. Now think about that for a second. If money is flowing away from you, and money flowing away is a liability, Then where is that money flowing to? And wouldn't that then mean that you are somebody else's asset? Just think about that for a second. All of the money that you're working for today is just flowing away just so you can finance the things that you need throughout your lifetime. Now I want you to picture that for a moment. Just add up all the payments that you've been making out of all the payments that you've made throughout your lifetime and think how much of that money do you actually have today? Is it a big round number? 0? The reason is because we're all familiar with this process called banking. We're just not familiar with controlling it. The money is ultimately flowing to the bank. And becoming your own banker is all about creating a private family banking system. Or you'll see this more and more often. You'll see FBS Family banking System. That's what we want to create a system. It's not a product. The process of becoming your own banker, the bank concept has nothing to do with a product. It's a process. And the reason why we want to implement that is so that you have total and absolute control over 100% of your banking and financing needs. Imagine just not having to go through nosy credit applications or having somebody probe or go up one side and down the other and have you prove to them that you don't actually need the money so that you can get the money. Like it's insane even trying to access your own equity or doing those kinds of things. It's, it's supposedly your equity but you can't access it. Nothing wrong with investing in real estate. It's awesome. But I've been speaking to a lot of real estate investors lately and for some reason that cash flow that they were enjoying up until about, oh, I don't know, September of 2022 or so, a lot of it has dwindled. A lot of that positive cash flowing real estate that they had is now negative cash flow. Now why do you suppose that is? It has to do with the problem called banking. Can you be financially independent or financially free when you are financially dependent on somebody else's bank? Think about that for a second. Especially for real estate investors, people are hurting right now because those interest rates are going through the roof. And the problem is banking. Now I'm going to share a little bit about what we've been able to achieve and what we've done as a family. So we're going to talk about recapturing third party debt and I say recapturing the debt, not paying the debt off to create a tailwind. We want to create a tailwind on our finances. What does that actually mean? We're going to talk about recapturing family business, debt, financing final expenses and just having an opportunity to be present and having some freedom around it. So we'll talk about that. We're going to talk about expanding the family banking system to ensure some in laws and to keep the money in the family. This slide fascinates me. Like I'm a certified knuckle dragger, people, okay? Like I use my head for a hammer for the first 20 years of my life. So when I say if I can do this, you could do this. I'm not an agricultural expert, okay? I just saw this speech one time, I saw this fellow giving a talk and he said, look, when you look at a bamboo tree, it's probably there's different species and whatnot. He goes, but you have to treat the bamboo tree, you have to treat the soil, you have to feed it, you have to nurture it. There's things that you have to do for a whole five year period before that bamboo tree even breaks the surface of the earth. But if we miss any of the steps, obviously in between, no bamboo tree, right? So we have to follow the process and do it correctly and do it consistently over time. You might not even see any result. Well, welcome to life. You know, when you do the things in life that are very difficult, you do the challenging things that you already know to do. When you do those things against your will, you just do it. When you do those things consistently over a long period of time, you're going to produce the result that you want to produce. If you have the right objectives and intentions in mind, right? You're already an expert, you're already very proficient at creating the results that you've created in your life so far. So all you have to do is change the formula and you're ultimately going to change the outcome. Like it is like simple math, right? So this bamboo tree, when you're nurturing it and taking care of it, you don't see it for the first five years. You apparently over a six week period in the sixth year, this bamboo tree shoots up like 90ft or 90 meters or something crazy like that. Like you can literally watch it grow. And this is kind of how this process of becoming your own banker works. That doesn't mean that you're not going to see any results. You're going to see an immediate impact, an immediate result, right from day one from getting started. But it's a long range thinking. It's a process that builds and gains momentum and exponentially expands over time. It's like that with any objective. It's like that with business. It's like that with a weight loss goal. It's like that even with developing a deep and meaningful relationship, consistent behaviors over a long period of time. That is what creates the compounding, the quantum leap transformation that you're looking for. I promise you, there's no silver bullet out there, okay? There's not an overnight solution. Now, the good news is it is reduced. Ridiculously simple. It's all in the book. Nelson left us with some specific rules to follow, and he left us with some human conditions that we'll have to overcome if we want to be successful or proficient at being a good banker at implementing this process. Now, the first one that comes to mind for me is expenses will rise to equal income. Parkinson's law. Parkinson's law also states that your work will expand to reach the time allotted. If you give a guy a week to get a job done, you better believe he'll turn it in six and a half days in or right near the end of the seventh day. Day. Right. It also says that a luxury once enjoyed becomes a necessity. So Parkinson's law says that your expenses will rise to match income. Everybody says that. I've heard that all the time. The more you make, the more you spend. That is what you call a relative truth. That's not actually true in reality. So if we want to implement this process, we need to whip Parkinson's Law. Because everybody already thinks that they're spending all of their financial resources on what they think is most important. So we need to reevaluate where the money's flowing. You already have the money to get started, so we gotta be intentional, and we have to. Now, I get that the why is a buzzword, but what I mean by that is, like, yeah, what's your purpose? Like, why on earth are we even doing this in the first place? Because if it's just to get rich or something like that, it's gonna get old. Like, there has to be something bigger than that. What is your actual purpose? And a commitment to getting out of financial prison, that might be your purpose. So be intentional and be present with your why. So this is just a snapshot to show how myself and my family have been whipping Parkinson's Law. We prioritize capitalizing our policy system over any other use of money. It's the most important thing because we got to put that money to work, because we're already working hard for the money and we're going to need that money now and long into the future, that need for capital is never going to go away. What this is, as you can see, the number of policies. We now have 11 policies in our family system. We're presently working on number 12, and we're going to add 13 here in a short turnaround as well. So we're expanding our system. And what we did was, you know, these first few years in 2011, 2012, I was really struggling financially and I had no idea what the process of becoming your own banker, the infinite banking concept even, was. It's just when I got into the insurance industry and I heard about this thing called whole life insurance, and I thought it was a really good idea for my kids. So I got a few small policies to start. And years later, after I started to learn the process and implement becoming your own banker, even long before I had a mentor. So I made just about every mistake you can make, but I was able to use those policies. They were. They're just small policies, but four or five years in, they gained enough momentum or I could start using them for small things, solve small problems. And it really helped my family at the time because things weren't going very well in this gap between 2012 and 2018. In fact, 2018 was really tough as well. I really started to implement the process around 2016 using these four policies. And I didn't add new policies until I got a coach. Helped me rethink my thinking and reprioritize. But I got the process started. I got these policies started and I dramatically expanded my system over the last five or six years. Our system got stronger and we used it to accomplish objectives. And as I earn more income, I whip Parkinson's law. I don't just spend the money. So Willie Sutton's law, wherever wealth resides or wherever wealth accumulates, somebody will try to steal it. Willie Sutton was a famous bank robber. And they asked him, they said, hey, why do you keep robbing banks? He said, well, that's where they keep the money. Pretty simple, right? So we want to try and work to privatize our wealth. Keep taxes and creditors away from your wealth. Okay? The golden rules. He or she who has the gold makes the rules, and rightfully so, right? When you have the gold, when you have access to the capital, when you're the one setting the terms, I. E. The banker, the banker is going to set the rules. They're going to tell you when you have to pay it back. How much? You have to pay back what the interest rate is going to be. And if you don't make your payments, you better believe they're going to come get your stuff. So we want to build our own aquarium. We want to build our own warehouse of wealth. The Arrival syndrome. I've got good news. Nobody here has been bitten by the Arrival syndrome. Because the Arrival syndrome is stating that you know, you've arrived in knowledge. So you always got to continue to learn and grow and more importantly, rethink your thinking. Even when you think, hey, I got this, I got it figured out. Get some coaching. The greatest performers on planet Earth, in any industry, all have coaches. But yet for some reason, the common, the regular person walks around thinking they can do life without a coach. It like blows my mind. So use it or lose it. This is kind of getting back to your purpose, your why. If you're not present to the purpose, if you're not interacting with it, if you're not communicating it, if you're not making the process of becoming your own banker, the infinite banking concept, or family banking, a way of life, you're going to lose it again. It's a process and a way of life. It's not a product. So we got to create new habits, connect with your community, right? This is why we have these calls. We have quarterly coaching sessions with our existing clients. Hundreds of people get on these calls and they're starting to interact with one another, get to know one another and actually develop relationships so you're not on this journey by yourself. And again, remember your commitment to get out of financial prison, make it in the way of life. Let's go into implementing the process. We've laid some of the foundation of how do I go about doing this? Now let's talk about implementing the process. Now I'd mentioned already that it is a process. Becoming your own banker family banking system is a process, it's not a product. However, we need the proper tool to implement the process. So there is a product that we use, choose to implement the process. And the best tool that we've been able to find up to this point is something called a dividend paying, participating whole life insurance contract. And that would be ideally with what's called a mutual insurance company. Simply put, a mutual insurance company is mutually owned by the participating policyholders. It's a private company that is responsive to the participating policyholders. There's no downward pressure from shareholders. And so they're responsive to us and they work for us. We get to just tap into this already existing profit machine. We just get to co generate with the mutual insurance company. They've already got all the infrastructure in place. Dividend paying, participating, whole life insurance contract is the best tool that we've been able to find for this job. And here's some of the reasons why. The premium that you get to decide what you want the premium to be. We're not going to tell you what the premium is. We have clients that are depositing $200 a month into policies, $100 a month. We have clients that are depositing 300 plus thousand dollars per year into policies. So if you're somewhere in between those numbers, we can help you get started. You just got to get started so you have the opportunity to put more premium in as time goes on and as the policy compounds and grows. And it's a deposit, you want to think of it as, it's not something you have to pay for, it's a deposit. And isn't all of our money already being deposited somewhere? Right? The death benefit. So it's a tax free death benefit that will go directly to a named beneficiary, income tax free. And it'll bypass probate, goes directly to them. So right away, God forbid something happens, a lot more money is going to come out of the system than what we put into the system. And we also have what's called cash value that grows inside the policy. The cash value is really the present value of your future death benefit. And that cash value is contractually guaranteed to rise. You can think of that as equity. It's contractually guaranteed to rise every single day that the life insured takes air into the lungs such that it matches the total death benefit by the time you reach age 100. So the more death benefit we grow and build, the more cash value is going to accelerate right on behind it. You could say cash follows the leader. Who's the leader? The death benefit. So cash is guaranteed to follow the leader. And of course, because we're a co owner in the insurance company, we have the opportunity to participate in the profit every year in the form of dividends. Now the companies that we work with have never failed to produce a profit, They've never failed to pay a dividend. We're talking 175 straight years. This is what Canadians do. They work really hard, they earn an income and all of their income flows through the books of someone else's bank again. And they use that money. And once they use that money, the capital and the growth opportunity is gone forever. Forever. All we're doing here, we're not making this radical shift. This is what my family and I now do. The income comes in and it doesn't matter where the income's coming from. It could be rental income, it could be earned income, it could be pension income, it's still income. We do use the commercial bank for the convenience of debit. They help us facilitate transactions. Then we flow that capital to our own private family banking system. Capital flows to the system of policies, the premium and it can go there as premium deposits and or you can see policy loans. We're flowing the money through the life insurance company. Want to shift that energy to a company that we co own so that they can put that money to work and grow profit that they contractually have to share with us. Like doesn't that just make sense? If you're already flowing the money through some system, wouldn't you want to flow it through a system that you co own? And then what we do is we flow that money back, we borrow the money from our own system. I notice I said borrow because we're not withdrawing anything. When you withdraw, you interrupt the momentum. We don't want to ever interrupt the momentum on our capital. So we're going to borrow against the value and let it just keep on growing and compounding uninterrupted and borrow the money from the system. We flow that money to the commercial bank. I just named it a policy loan account. It's kind of important because I like to keep my policy loans separate from my income so that I'm not commingling the dollars. So I have a separate account that the policy loans flow into. And then we use the capital from the life insurance company. Not my own money, the life insurance company's money. Because my capital never leaves the pool. They're just contractually bound to lend me their cash up to 90% of my total cash value so I can borrow their money. Well, my cash keeps growing and then I flow it through and I use it to finance all of the same things that you're already financing today. It could be recapturing debt, it could be investing in opportunities for cash flow. We use it for family banking. So that could be financing things that we need and so on. So we're not doing much different than what you're already doing today. It's the same process. We're just enhancing what we're doing by adding flowing our money through the system of policies. So Nelson Nash's golden rules. Now what I'm going to do is I'M going to share the golden rules with you and we're going to see if the way that I've built my own family system is in alignment with Nelson Nash's golden rules. Let's see how we do. So the first thing is think long range. Nelson was trained as a forester. He was taught to think 75 years into the future. So just think about that. Jason Lowe said on one of our calls the other day when we were getting some coaching is he said, look, you got to feed the body that you want in the future. Same with your finances. He said the same thing. You got to capitalize your system. You got to grow the wealth that you want for the future. Everything that you're doing today is painting a picture. It's determining what your future is going to look like. So I'm taking actions today, obviously to increase my financial well being. If I do something that's going to benefit my grandkids, of course that's going to bring me up along with it. I'm taking actions today. I'm thinking about my unborn grandkids. Don't be afraid to capitalize. Any business requires capitalization. And this family banking system, it is a business. We are building a banking system. It requires capital. And isn't all of my money already flowing to and through somebody else's bank anyway? Don't steal the peas. Now, if you haven't read this book, you probably don't know what we mean by don't steal the peas. Nelson says, when you understand the grocery store example, the rest of the process, banker, is ridiculously simple. And it is ridiculously simple. But ultimately, if you use capital from your system, you should create a payment schedule and you should pay that money back and you should pay it back with interest. It's all flowing back to your own system anyway. If you borrow money from the commercial bank, you're going to agree to a repayment schedule. So if you borrow money from the family bank, you should do the exact same thing. You're already familiar with the whole process now. Don't do business with banks. This is something that Nelson was really diligent about. And it's not to say that you can't borrow money from banks or whatever, but ultimately a lot of people don't realize that when you do business with banks, when you borrow money from banks, that's how they artificially inflate the money supply. You got to think and you got to rethink your thinking. I was on a call with a lady today and she actually caught herself she was like thinking about how much capital she wanted to put in the system and what I was sharing with her. And she goes, oh gosh, that's. And she was about to say something about how it's expensive. Well, it can be whatever you want it to be in terms of the deposit that you want to put in. But then she said, oh, wait a minute, it's a deposit. I got to rethink my thinking. I can put in as much as I want, as much as I can, but I'm depositing that money. I'm not. It's not an expense to me. It's building an asset. Right? Create capacity for windfalls. That sixth golden rule was actually added after Nelson passed. And it was added by his son in law, David Stearns on one of our live webinars. Actually was pretty cool. He was talking to Jason Lowe and he told this story about how Nelson called him up one day before he passed away and he said, look, we gotta talk. So they sit down and he says, so David, tell me what's your loan balance? And he said, it's about half a million, about 500,000 bucks. And Nelson goes, oh, thank God. David looked at him a little confused. He goes, what do you mean, thank God? He goes, well, I'm not going to be around forever. Someday I'm going to become an angel. And when I become an angel, there's going to be a big windfall of cash that comes into the family and you need to have a place to store that capital. Otherwise it's going to get stored in someone else's bank. So we need to create capacity for windfalls. If you find yourself thinking, gosh, Vern's amazing. He is like so awesome. I'm getting tons of value. Ascended Financial is amazing. I want to get in touch with these guys. I want to learn about how this process of becoming your own banker can work for me and my family. All you have to do is use this QR code here. If you're like one of those fancy dancy tech people, not so much me. Or you could text the word schedule. Text the word schedule the 780-809-4599 and you can reserve a date and time for like a 15 or 30 minute, no obligation call where you can just talk to an actual practitioner, learn a bit more about the process, and we'll give you the tools and resources you need to get started on your journey. Okay? Okay. Look at these beautiful people. So we're thinking long range. That's my son, Aeneas in the Top left corner, we have three policies on my lovely wife Crystal, that's her. This is my daughter Liza, looking very stoic. She also has three policies on her life that we own that all form a part of our family bank. And this sharp looking fella in the bottom left corner, we have two policies on my own life. And there's a reason for that which I'll expand on a little bit later. And I will say that most of the capital goes into the two policies on debt. Just saying. Okay, so we're thinking long range. We have my kids insured already because the life insurance companies require the parents to have death benefit on their own life before they'll offer a policy to a child. So we're way ahead of the game. I don't know if my kids will ever end up having kids. I hope they do. But we've already got policies on them that will massive by the time their kids, if they roll around. And as soon as that kid is born, we're going to put up 15 days old, we're going to put a policy or an application in for a policy on that child's life. Don't be afraid to capitalize. So as I said, We've got 11 policies in our family system right now and we're looking to add policy number 12 and policy number 13. Policy number 12 is basically an underwriting already. And so every policy that we design has what's called a base, a minimum or a required premium, a contractually agreed upon amount that you're going to deposit into the policy either monthly or on an annual basis. The base, the foundation of our banking system has a required premium of $54,000 per year. And we have the opportunity because that's the foundation from which we build. We have the opportunity to put a lot more capital in the policy. There's a lot of flexibility with our systems. Now don't steal a piece of. We're going to talk a little bit about not stealing the piece. Up to. And during 2022, we had some unsecured debts and I added the credit cards in here. So we had about $45,000 of unsecured debts. I'm not talking paying off debt, I'm talking about recapturing the debt. Now, I know there's lots of different strategies and we can use debt to buy assets, you know, all that stuff, tax deductions, yada yada, yada. But simply put, if we keep it ridiculously simple, debt is a liability because it takes money out of your pocket. But again, debt is an Asset. If you are the banker in the bank owner, you are somebody else's asset because the debt is not bad to a bank. Banks want to lend money out because it attracts a stream of payments. So when I say that we recapture the debt, yeah, we've paid off the third party debt from the commercial bank. But what we've done is we've taken their asset and we've shifted where it resides. It now resides within our own family banking system so that the payments leaving our family previously are now flowing back to our own system on our own terms. So when I say that we used a policy loan to recapture a $45,000 worth of third party debt, that's what I mean by recapture. Now that $750 a month that was previously leaving us is flowing back to our system, you can see where we start to potentially get the cash to expand our system. Right. Ford F150, the original vehicle loan in 2019 January was around 46,000 bucks. I didn't have enough cash at the time to finance the within my system. I stretched the loan out over eight years and I tried to keep the payment as low as possible so the least amount of money left my family. So I had more cash to continue to build my system. So as I'm building my system, what's happening to the liability? It's, it's going down just by the natural cause of, you know, making the payments. So by the time I had prioritized it and had enough capital available, the loan was actually around $34,480. But I just rounded up to 35,000. Now my payment earlier I said it was $299.37 bi weekly, which is less than $800 a month. But who controls the repayment schedule back to our own system? I do, I increase the payment. Why? Because the more I put back into my system, the more I get to go back and use again in the future. So we recaptured that debt. We have an opportunity to do a bit of a business loan. We have a construction company in our family. I happen to be a shareholder. I don't have anything to do with the company in terms of the day to day or anything like that. My brother in law does an amazing job running the company as a CEO and my wife does. He would tell you that she basically does everything else. So they run the business, but they had some vehicle debts that were a little bit strenuous at the time. And I said, hey, like why don't we just create some flexibility. The debt amount wasn't that high, but the payments were fairly high. Now the payment that they were making was higher than 500. So again, having the control within the family bank, we can modify the payments, we can do it ad hoc, we can do it sporadically. But now that debt, there's nobody banging on the business's door saying, hey, where's my payment every month? And for some reason, some people out there, some of them are in Ottawa, they seem to think that business owners are just rolling in money. And my brother in law can attest to this. There's been times where he doesn't get paid right because he's got to pay somebody else, his workers to make sure that they're looked after. That's how it works. We had a second mortgage. Speaking of taxes, you know, I had a tax problem in 2019. I had a tax bill. It was like about 35,000 bucks. And have you ever been in a place in your life where you just needed to focus, you had something that you got to get done? And at that time in my life, I was in a pivotal point in building my system, building my business and getting mentored, getting coached on this process. I was lucky enough to get connected with Ascended Financial. So the payment was about $350 per month, interest only to access that $35,000. I just told him, I said, look man, I hear what you're saying and I appreciate your feedback. I would rather borrow the money from you and pay you 350amonth on an automatic debit. And until I'm ready to recapture this debt, then have to make payments and deal with CRA and do all of that, I just can't deal with that distraction right now. So I paid CRA happily and then I built my system. And the 35,000 a few years in wasn't the biggest concern because it was a lot of money for not a big payment. 350 per month. So it wasn't until this past fall that we accessed a loan and we recaptured that second mortgage. 350amonth. And again, you'll notice that the payment here is 500 per month. I increased it. I'm paying more back to my system than I was paying for the interest only amount. So that is $2,550 per month that is now flowing back to our system that basically was leaving us before $140,000 of third party debt. And I used to get so irritated with the payments that we had to make all the time because, you know, you might have a little bit of money in this account and you Forget there's like $0 in this account and then you forget to move the money and then they ding you with a $45 NSF charge. And it's just like, it's insane what a peaceful, stress free life it is when you're controlling the payments. So this is a picture of my dad. So unfortunately I lost my father this year. I got a call late January and hey, you know, we found out that dad has lung cancer. So my dad's wife called me and said, I said lung cancer? Yeah, they're not giving him much time. And I didn't even know that the situation was that bad. And so I thought, man, like something in my heart was just telling me like I just got to go, right? So I basically dropped everything. Early February. I spent the whole month of February in New Brunswick. That's where I'm originally from, New Brunswick. So the travel, I mean, I don't know if you've ever jumped on a plane in Canada, but it is like ridiculously expensive. So the travel, the accommodations, the food, you know, just to live, visit with some family because, you know, I was there, other costs that came up, right? And then final expenses like funerals are not cheap. And again, I was blessed with the burden of that responsibility and I happily took it on because, you know, my mother in law took care of my father until the day he died, literally. And she was so grateful that I was able to be there with her and I was grateful that I was able to be there with my dad and say goodbye to him. Right? And the bill was somewhere in the $25,000 range or north of that. Like where do you think we got that money to solve that problem? Now I had other intentions with that 25 grand, believe me. And not to mention what I didn't include in here is the lost revenue of being away for an entire month and not being able to do any business. But because the capital's growing in our system every day, I don't have creditors knocking on my door. I can pause, I can modify, I can change my payment schedules. I control all that. It was allowed me just to go there and be focused with my family. And so like you, you can't put a price on that. And you can't put that in a policy design illustration. It doesn't show up there. It's an exercise in imagination. What's possible by implementing this process? The next golden rule, you got to rethink your thinking, right? So believe it or not, remember I mentioned I only had a couple of policies on my life. Prior To November of 2021, I had about $850,000 of term insurance on my life, which is not a dividend paying, participating, whole life policy. The policies we had were on other lives, my wife and my kids. I was dramatically underinsured and that made me feel really insecure and vulnerable as a father. I was like, good God, man, if something happens to me, my family's in trouble. Excuse me. Believe it or not, 48 months ago or so, I wasn't insurable. I had some health concerns, very, very minor in my early thirt, some, you know, blood work and stuff like that. I didn't change it. I was kind of dealing with some trauma. I had a friend that suffered a brain injury when I was 30. He was the best man at my wedding. And how I chose to deal with that was not drugs or alcohol. It was just having like really bad habits. And I was about 40 pounds heavier. And I did some really bad damage to the inside because I was eating a ridiculous amount of sugar and I was binging and eating late at night. And it was, it's embarrassing and it was bad. And so it was all about instant gratification, trying to heal that pain. But I shifted my thinking when I started to look at expanding my system. And I tried to apply for insurance and I couldn't qualify, I couldn't get approved. And so it was like, man, be present to your why what matters. It's always family to me in the middle. My wife and my kids and my extended family, they mean the world to me. That's what matters. That's why I'm here. And guess what? At the risk of sounding cliche, it's your family too. Because I believe that if we create freedom, if we solve this ridiculous money problem, you're not here to worry about the tax bill or worry about how to keep your lights on, or the car payment or the credit card bill. Like your life is more than that. You're not here for that. You have a purpose. But we're so busy trying to keep the lights on and trying to have some type of quality of Life and working 40, 50, 60 hours a week just to buy fricking eggs because they cost $7,000 today that it's eating up all the attention units. That's the only thing you can focus on. So when we solve the money problem, when we control the function of banking as it relates to our needs, when we have a engineered process to create wealth, it's a peaceful, stress free way of life. And it frees up time and energy so you can focus on things that actually matter, like your family, like your purpose. So I had to shift my thinking and think more long range and think about feeding the body that I want, not the body that I had. And think about health and think about growth and think about wealth and legacy and my family versus survival and hope and comfort and instant gratification. That's where I was at prior to that time. And so I transformed my health and I was able to get a policy approved as of the fall of 2021. So I'm super beyond grateful for that. Create capacity for windfalls. So as I mentioned earlier, we have that base or that required premium of $54,000 per year. And we put north of $200,000 per year as premium alone in our policy system because we have outstanding policy loans because we've used a lot of that capital to recapture debt. So there's a lot of capacity there between the optional premium and the outstanding policy loans. Unfortunately, I didn't receive a windfall. My dad passed. I love you, dad. It cost me money, but I'm anticipating that some windfalls will come in the Future. And if 300,000 bucks showed up tomorrow, most people, as I said, are forced to put that in the commercial bank. But we have capacity. We have space within our own banking system to store that capital in our own aquarium and just, oh, boo hoo, it just grows every day. Bummer, right? Have we followed Nelson Nash's golden rules? Think long range. Everybody in the family is insured. We need to, don't be afraid to capitalize. So we have that, you know, nearly, if not 100%, nearly 100% of our capital flows to the family bank in one way, shape or form. We have $54,000 as a base premium. Don't steal the piece. Replenishing policy loans. And we don't do business with banks. We're controlling the financing function as it relates to our needs. We're recapturing debt within the system. Rethink your thinking. This is what I was thinking about. I just wanted to share this as well. Shake things up, practice new things. Consult with a coach or my team as it relates to this process. But even your own community. Create capacity for windfall. So we already kind of talked about that policy loans and premium capacity. We're going to talk about tailwind. Okay, so in Nelson's book, I think it's page 18. Nelson was a pilot for what, 50 years or something like that. Really familiar with weather patterns. Dan, have you Ever tried to control something that you could not control?

Oh, probably at some point in life just being not that bright, I probably tried to do it, but yeah, it doesn't work out so good, man.

I spend way too much of my time. Even now I got to rethink my thinking. I'm like getting stressed out and annoyed by things I can't control. There's no sense crying over the rain, man. You can't do nothing about it. Right? So that's what Nelson was talking about. He goes, look, if I fly into a 340 kilometer or mile headwind and I'm going 100 miles an hour ground speed, I'm effectively going 240 miles per hour in the wrong direction. Dan, what was he actually referring to there?

He was referring to all that loss of interest that's leaving our system towards someone else. And we're diligently trying to save up part of our money and we put that somewhere, but we're actually giving up much more than we're saving up 100%.

Like when you look at the typical Canadian or American, North American family, like 34% of every dollar that's leaving the house is going out the door just in interest alone. And then we argue and fight and we try to get 6, 8, 10% on our investments and we go, Hey, I got 10%. Isn't that awesome? Meanwhile, there's this huge discrepancy. You're paying way more interest out the door than you're actually earning. He taught us that we can't get a better rate of return on anything without first controlling the financing function as it relates to our needs. He talks about how the fact if you're flying and you have a headwind, if you're patient and you understand the weather system, you understand the environment through which you're navigating, if you wait long enough, that weather system will move and you can fly through the center. So now you got 100 mile an hour ground speed, you're moving 100 miles an hour in the air because you're flying in neutral space. Well, that's equivalent to financing things using cash. You're not really getting ahead, you're just not paying interest, but you're also not earning interest. If we wait a little bit longer, the weather system will move even further. And now that headwind will now become a tailwind. It's just by focusing on what you can control and understanding the environment through which you navigate. So that's what he's talking about as it relates to implementing the process of becoming your own banker. The infinite banking concept and how our system is always growing and we're earning in and recapturing interest versus paying interest, and we have more control. So rather than worrying about interest rates or the economy or the rates of return, all these things that we basically have no control over. If we just better understood the environment through which we navigate the financial world, the environment that we do our banking through, we can create a perpetual tailwind on our finances. Okay, so here we go. What does this look like? The tailwind growing the system. So the first thing that I want to point out, I mentioned that the cash value in the policies is growing every single day. So we had a couple policies, or we had some policies in place. We added two policies in 2018, and if you think about the daily growth, and you add that up, we had six policies total. So add up the daily growth. The monthly growth that we could access, the tailwind was about $500 per month. Now those policies get stronger, we add another policy, and they grow more and more every year. And now our tailwind, just by gaining, we're aging, we're growing older every day. And every day that we take air into our lungs, the cash value increases. So in 2020, we had a tailwind of $1,000 a month. 2021, we added three more policies. The other policies get stronger, $2,500 a month that we can actually access just because we're aging. And today I probably should update this slide because I hit a couple of policy anniversaries, and we're going to add some new policies. So the tailwind is probably even bigger at this point. But we had 11 policies in our system, and every single day, each of those policies are ratcheting up. We can access $4,000 per month just from aging. We're not working any harder. Now. The actual cash value growth is about $4,500 per month because we can access 90% of that total growth. What do I mean by a tailwind? I think back earlier when I showed those slides of the payments that we're leaving, and then the slide in the middle where I showed what we were recapturing within our system, the payments that we're now recapturing, it was about $2,550 per month flowing back to the family bank. So every time we deposit our $2,550 as a loan repayment back to our bank, because our cash value is growing every day, we can go back and access 6550. Do you know anywhere where you can save $2,550 a month and go back and access three times as much. Like, even if that number was 3,000 bucks, like, who cares? That is the tailwind. We're controlling the financial environment through which we navigate. It's ridiculously simple based on what I just described and everything that we're doing here. Are we working any harder? Are we adding any additional risk? And are we ever losing control over our money? So Again, here's that QR code. Text the word SCHEDULE to 780-809-4599 so that you can, you know, continue to receive value, continue your learning journey and, and implement this family banking process. Now we kind of shared the problem, where we were at, how we got started. We shared the solution of implementing family banking and what we've been able to achieve and creating a tailwind. Now I want to share a little bit more now about where we're going, where we're headed. Dan Sullivan, the founder of Strategic Coach, he says the problem is never the problem. The problem is how you think about the problem. So I got to thinking, ever happened to you? Happened to me. I thought to myself, you know, if I could do this for my own family, is there anything stopping me from doing this for other families or more importantly, the people that I love, my extended family? So I'm doing all this for us. And I thought, if I can control the banking function for us, can I control the banking function for them? I mentioned it earlier. I want all of you to come along with me too. But I don't want to be sitting around the campfire, you know, enjoying passive income time like by myself. I want the people that I love. I want my closest friends and my closest family there with me. How do we go about doing that? We're going to expand and build the family banking system. I have a young brother in law. I started to educate him on the process of becoming your own banker. He's a great guy. I've known him for like 10 years, works really hard and say, hey man, if you're going to be marrying my sister, we got to get some insurance on you, first of all. But second of all, you know, what's preventing us from implementing this process? So we have a duty of care to understand how our clients are structured financially and to be able to give them good guidance. So, you know, we started examining his finances and we see that, you know, he's got a few debts that he's working on and so he's got, you know, some credit card debt, some Student loans. He's got a line of credit and he's really diligent about making the payments. But it's $1,000 a month just to service this debt. And it's like about $53,000 that he's just servicing now. When do we actually think he's going to get that debt paid off based on that schedule? Absolutely never, because he's virtually hitting no principle whatsoever. So here's what we were able to do as a family. Oh, yeah. So look at this slide. It's cool. Group participation. What's the value of control? What words come to mind, Dan, for you when you think about just having total and absolute control, specifically over our financial lives?

Yeah. To me, that's where you get the peace and it comes from, you know, having control and you no longer have the worries. But we're getting all kinds of good answers in the box. Like freedom, peace of mind, no stress, you know, just power, infinite value. Like there's just a lot of ways to describe that. Control.

Okay? The value of control. That's what this is all about. So here's what we were able to do. We're able to issue a loan for $56,000 and there's some extra cash in there for some other things that we wanted to take care of. And we actually created a term. He had no term before. It was just servicing the debt. And we said, look, we're going to change, modify the payment a little bit. We're actually going to drop it down. He's already consistently making $1,000. Can we do 930? Yeah, no problem. Over an 84 month term? Absolutely. Now, is there a good chance that if they have some babies, the income's probably going to drop down a little bit? Yeah. And if they're having a hard time making those payments that I just described, can they call up Mr. Banker and say, hey, do you mind if we press the pause button for six, 12 or 18 months till we get back on our feet here? They can't do that. But we can sit down and we can have a conversation and we can have a family banking meeting and we can renegotiate the terms of the loan and we can press the pause button. We can reduce the payment, we can take the final payment date and push it out a year or two if we want, because we have. The essence of the family bank is to have total and absolute control over the things that we finance. We control the debt. And he or she who controls the debt will create the wealth. The family bank will take over the debt. But right now we have an opportunity to expand the family bank. I just talked about an opportunity with my young brother in law. So we'll be applying for policy number 13 pretty soon because you know, if I lend somebody money, I should probably have a fail safe in place to make sure that I get my money back. God forbid he becomes an angel. I need to put a policy on his life to make sure that the death benefit will pay back the loan that we put right. So we're going to be applying for policy number 13. I mentioned earlier we have policy number 12 in underwriting. And so whenever we put a policy in place, we need to justify with the insurance company the death benefit itself actually has to have merit. Okay? There has to be a reason for the death benefit and there has to be proof that you can can sustain the premium. So this is what it looked like. We have that family business that we mentioned earlier, this is the case. So we have ownership in the business. And over the course of the last 10 years or so we've, you know, invested and we've put some more cash in the money for carrying costs of approximately $100,000. There's approximately $100,000 of liabilities that my wife and I would be liable for if God forbid something happened to my amazing brother in law Chris. And then we also want to build in the death benefit a way for us to get the premium back that we put in. Anything above these liabilities and the premium would go to my sister in law, God forbid something happens to my brother in law. So we're further protecting their family as well. And there would be some closing costs and whatnot for the business if God forbid something were to happen. So we need at least $400,000 of death benefit today to just cover those liabilities. The policy is being funded personally by the McCarty family. And so we're going to own the policy, but we're going to turn around, but we can now backdate policies by 364 days. So essentially we can deposit two premiums back to back and make the policy work a lot harder and grow more right from day one and we can have access to a lot more cash. So we're going to backdate the policy, we're going to deposit two premiums and we're going to access policy loans right away and we're going to use that to recapture some third party debt via the family banking system that my brother in law is paying for one of his vehicles. So we're going to expand the system and we're going to have more control for their family as well. So the money will flow back to our system so that we can keep on growing it and recapture more debt within the family so that we can eventually take advantage of more opportunities. You might recognize this piece of Lego right here. A lot of policy loans for Lego. That's the Home Alone house. But what about that guy right there? Do you recognize my DeLorean? It is awesome. Okay. Now, the reason why I shared that is because we're going back to the future. What are we creating for the future? This is just a snapshot of what's possible. Again, make sure you're inserting yourself, your own family, your own objectives into everything that I'm about to share and everything that I've shared so far, everything that you've absorbed. So family financing during a lifetime, there's never going to be an end to the things that we need to finance, right? It's going to keep on going. What about passive income time? Some people call it retirement. What about creating a legacy and building a system that is going to live beyond you? Remember, keep the money in the family. Keep it growing and compounding and build something that will live beyond you. That's a Legacy. We have 11 policies in our system. We're expanding it. But the case study that I'm about to share here is only talking about the core four policies that we have in our system. So, dad, when I got the policy, the total maximum premium is $88,000 per year. The base or the required premium is $22,000. My wife, one of her three policies is $10,000 per year, and there's a base premium of about $4,000 with a total of $10,000. My son, who was 13 at the time when we got the policy, again, $10,000 per year going into his policy and $10,000 per year going into the policy on my daughter. And you can see the base premiums there. So let's expand on the core four. What does that actually look like? It says the starting DB, as in death benefit as of November 3, 2021. And WL would be whole life. Whole life, death benefit. How long is the coverage going to last you for? Whole life. You know, I hear that death is a permanent problem and it should be solved with a permanent solution. Now, term insurance is fantastic. Term insurance is extremely valuable, and it's there for a term. If I only had a million dollars of death benefit on my life, do we think for a second that that would be enough? I'll give you a hint? The answer is no. Added what's called a rider. I add some additional term insurance to make the total starting death benefit. $4,033,520 is what the death benefit was at the time. And currently because of paid up additions, we haven't really talked about that much yet. Every time we deposit premium either annually or monthly, when we receive dividends from the life insurance company, a portion of the premium, that optional premium we're putting in is actually purchasing these, these blocks of paid up insurance. Again, all the content that I shared earlier will help you understand the tool better. But essentially we're just making deposits and the death benefits actually growing over time. So already our death benefit, the paid up additional death benefit on my policy is just shy of $500,000. It's 496,682 as of today. So the new whole life death benefit is now over $1,500,000. Now doesn't that mean that I'm chipping away at that need for the term insurance? I don't really need the term insurance as much anymore, do I? And after 10 years or so, my permanent death benefit is going to be much larger than the original 4 million. So I will have done away with my need for term insurance. So now with the term insurance, I get $4,500,000 of death benefit just on that policy. So we're further protecting the family. God forbid something happens to me. Today we're further securing the legacy and estate preservation and all the rest of it just by implementing the system. And more death benefit means more cash value. The total cash value has to rise to match the total death benefit. Mom's policy at the time when we got the policy, she was 34 years young. The starting death benefit one of a smaller policy, only $250,000 was the starting death benefit as of November 7, 2022 when we started the policy. Now today, with the paid up additional insurance, the total death benefit is now $337,260. That's amazing. Guaranteed death benefit for the future and guaranteed to produce more cash day after day, year after year. What about the kids? How are they doing? You know, the kids. When you it put put premium in, the policies generally grow a little slower in the early years, but it creates a whole lot more death benefit. So those things kick up like crazy on the back end. So the starting death benefit on my son was $399,438, which is more insurance than most Canadians walking around today. And his Current death benefit. We just celebrated his second anniversary on his policy. So his paid up additions just took a huge jump. $125,063 plus the starting death benefit. $524,501 is my son's death benefit as of today. It's amazing. It's going to create a lot of opportunity for him in his future. So my daughter, same sort of thing. May 3, 2021, we got the policy, $460,009 plus the paid up additions up to this point. We're about to hit her anniversary in about three weeks here. So her paid up additions are about to take a big jump. But 104,772, so a total death benefit of $564,781,000 because that's what $10,000 generated for death benefit on her. Let's talk about financing for family needs early childhood. What's going to happen? My son's 15 today. At year five, the policy loan availability within our core four is going to be approximately $532,660. This is just a sample loan agreement that we are now using when we put together loans within the family. It'd be different if you were doing something, you know, official like private lending or something like that. But we're doing this based on, you know, this contract is in place. But it's trust. People say, oh, I would never lend money to my brother. Well, great, don't lend money to your brother. Like it's really that simple. But you have family members that you love and that you trust and that are going to participate. My family's learning the process. They're not just going like willy nilly. Right. And then we also have a loan tracker that we put in place so that we can build our family bank and we build our own loan portfolio much like a bank. This is a pretty simple calculator, but it's really, really unique in terms of what we can do and what it tracks with it and whatnot. So there's tools that you can use to help kind of track things and put things in place. And I'll do the same thing with my kids when I lend the money. It's not a gift from daddy. I'm teaching them already. But we want to teach them the family banking system because if they don't finance a car from the McCarty family banking system or the Smith family banking system from your family, then they're going to finance it from one of those other big dealerships which are all essentially Just banks, right? They're going to make the payments anyway. We may as well teach them how to keep the money in the family. What about your kid's first home? We're 10 years into the process now. We have $1.2 million of accessible cash in the system. Of course, there might be some loans outstanding or whatever, but we're having annual family banking meetings where we're always examining what's available in the system. This is just the core four. This isn't counting the other seven policies and the other two that we're adding and the other untold amounts that we're going to add as a family as we expand our family bank. What if my son at that time is getting married or my daughter's getting married, or they need to purchase a home, or maybe there's a business opportunity, as I put right here. Now, my behavior is going to be more important than anything the insurance company is going to do. This is assuming that I'm capitalizing the policies, maximizing the capitalization every year, which I fully plan to do. So at year 15, we have access to 2.1 million. At year 20, you can see the momentum picking up in the system. Right. Just five years later, we have another $1.1 million that we could access out of the system because it's getting stronger and gaining momentum. It just keeps going up. It just keeps ratcheting up every day. Now, people always say that to me, well, I don't want just my kids to benefit. Look, if I could do something and only my kids were going to benefit and they were going to have a better life than I have had, I'm all in. But, of course, the better life I create for my own kids, the better I'm going to benefit. But what I did in this example is I killed myself off at 92. Okay? Now, I didn't necessarily max out the premium. The projection I created is I max out the premium till about age 70. That's usually what I show clients. You can continue to maximize the premium longer. You can scale it back sooner. You can do even an offset where you're not putting any premium in if you want. I wouldn't recommend that, but you can do that. The policy will literally sustain itself. But at 92, I will put 3,332,000 doll into the policy. That would be the total capitalization by the time of my mortality that I'm describing here. What am I going to get out of the policy? So this isn't necessarily to say what I'm actually going to do. I'm just expressing an option that you have where I could take that policy and all that value and I could collaterally assign it with a third party bank if I want. Even though I mentioned earlier, don't do business with banks, but you got to do what's best for you. Now I can go to a bank. Now think about this for a second. Do banks like risk? Banks don't like risk. Now they're either really stupid or they know something that you don't know because you do have to qualify. This is not becoming your own banker. I'm now potentially engaging with a third party bank. Okay? But I can take that policy and all the value and if I qualify, they will lend me up to 90% of the total cash value in some cases. Some banks will lend 100% of the cash value. Now if they'll only lend me 65% on a line of credit on, let's say I had a mortgage free home, they would lend me 65% loan to value on my house, but they'll lend me 90% of the cash value of my policy. Huh. What would that then communicate to you about the strength of that asset? Banks own a ton of this stuff. They actually put tons of capital into these permanent policies because they know it is an extremely strong, reliable guaranteed asset. They know it's going to have guaranteed cash and a guaranteed death benefit benefit. So I could draw out $5,616,660 between ages 63 and 93, about $187,222 tax free every single year just from that one policy. Now what is that going to do then for the family at net death benefit? The net death benefit. That means I've now I've built up this big line of credit. I've paid the bank off with the death benefit. They'll generally allow you to capitalize that interest. Now keep in mind, this is not advice. This is not me telling you to go out and do this. You must get good guidance from a really good coach who's proficient and they know what they're doing. Okay? But just saying we build up this massive line of credit, but I have this big loan and then the death benefit wipes out the loan. And the net tax free death benefit that flows to the family is $4,100,000. So we get a total amount out of the policy, including the income after we've paid the loan back and the death benefit of just shy of $10,000,000. And I put 3,300,000 in. That sounds like a pretty engineered process to create indestructible wealth for my family. Same kind of deal. Just showing you some highlights. Keep in mind, that was one policy from the core four. I killed her off at 89, but that's only because I lined up the amount of years with my own policies. So 89 years old, we put $440,925 into the policy. In total, the total tax free income that we could draw from that policy would be $689,340, which equates to just shy of $23,000 tax free from ages 60 to 90 on my wife. And then we leave a net death benefit behind, income tax free. After the loans are paid back of $691,000, we put $440,000 in. So that would be a net out of the policy. Net of $1,000,038,000,000. You see that it says son, age 13, income for parents, income for the parents. I own the policy and you better believe I'm going to use it. Like use the policy. I've used it to help finance things throughout their whole life and now I'm going to use it to make sure I have a really awesome golden years. So if we put $350,000 into the policy by dad's age 72, this is where we're going to talk about building a system that lives beyond you. The total tax free income that we would take from see a little bit later. So I increase my income because what are the odds that cost of living is going to go up pretty high. So at age 72, I give myself a raise and I get to pull 1,012,000 out of the policy from age 72 to 97 in case I live beyond the 93 that I thought, right. I pull $40,484 per year tax free out of the system. And the total collateralized loan at dad's age 93, because that's where I killed myself off, is $1,600,000, a lot less than the $4,000,000 I'm going to leave behind. Same with my daughter. Same. Some highlights here. I'm just going to speed up a little bit. So $350,000 in same premium as my son. We borrow again, over a million, another 40,000 tax free. And then 1.6 million is the collateralized loan. So let's circle back to dad. I left 4,132,851 at 93. And so the total collateralized loans between my son and my daughter's policies in this example is $3.3 million. So I'm leaving $834,851 just from the core four the capital. To do what? To fuel the system. I've already backfilled my kids policies. Do you see what I did there? I put these huge loans on my kids policies. I'm living the life, man. I'm having fun. Everything's good. Their cash keeps growing. Because I already know I don't need to repay the loans while I'm alive. I'm not stealing the peas. Create capacity for windfalls. I pass away. They backfill those policies and replace all of the money. And then they have a net amount of $834,000 to continue to start more policies on themselves, the grandkids or their kids. And the grandkids like talk about keeping the money in the family. The net at that point, after backfilling all those loans, the net out would be $6,400,000. Now my son's living life too, isn't he? So now we got this policy, the same one that lives beyond me. He now takes that policy over my daughter, takes her policies over the total premium dad put in a lot of it. But the total premium that my son would put into the policy all the way till age 100 would be $695,853. Now this is in addition to what I drew out or borrowed against because I backfilled the policies. He's now able to access $3,392,536 because we've been accumulating cash in that policy since his age 13. He's pulling out tax free, just shy of $117,000 per year just from this one policy. And then the net death benefit he leaves behind at age 100 because I just anticipate maybe he lives longer. Whatever I projected it all the way out. $850,615 is what he would leave just from this one policy after he got to access that $3 million. So a total out of the policy. $4,243,151 after putting in just shy of $700,000 into the policy. So I'll quickly go through this with my daughter. Same thing, $710,000 in $3,079,000,000. Almost $3.8 million out, tax free. She gets a little bit more income. You can see $130,000 per year, tax free. 950 is the death benefit. And a net of 4,740,000 out of the policy, including the death benefit after. This is what most people's lives are like, trying to control everything. The economy, the inflation, the interest rates, new babies. My income's going down. I got laid off. It's like stressful. Implementing the process of becoming your own banker. The infinite banking concept, the family banking system creates total and absolute control. So the family bank. I heard some of these words earlier. Freedom, flexibility, opportunity. And here's the best part about shopping for money from the family bank. It's very, very simple. The money stays in the family. That is the ultimate objective. Here's how we started by implementing this process. This is what we create. This is what it's all about. All of the things that we finance for our entire family throughout our entire life. Like, how would that make you feel? Like this.

It makes me feel like that just thinking about it. So I'll leave you with this. Creating the family bank needs understanding. It requires discipline. Okay? It's a commitment that you're committing to, but it can dramatically, dramatically change your life and beyond your fondest dreams. But it is, again, it's a process. Okay? So remember, if you haven't already subscribed, here is these two handsome gentlemen created wealth without Bay street podcast. Because you don't need Bay street to create wealth, that's for sure. We also have the Banker's Vault. You can go to the video section. We have, you know, the shorts, the playlists, or there's a lot of videos here, so you might get a little overwhelmed. Like, which one should I do? Where should I start? So get yourself a good coach. You don't have to necessarily work with our team, but make sure you're working with somebody who's an authorized infinite banking practitioner through the Nelson Nash Institute, and they can actually demonstrate to you that they're implementing the process. Here's our bookstore. So we'll have a link there for the bookstore as well. There's some best sellers here. There's some swag, but there's some great books and some excellent resources here for you to expand your learning. More coaching there. And then here's the greatest coaches on the planet as it relates to this process. You know, if you've received good value, I appreciate the feedback. That is awesome. So it's time. It's time to take control over your money. Notice I didn't say take back control because most people never had control in the first place, unfortunately, because we've been taught to send all the money away, it's time to take control over your money by implementing the family banking process.