Becoming Your Own Banker | Make Every Dollar Work for YOU

Someone must perform the function of banking in your life. Here are three steps that you should take because by doing so, you're going to empower yourself with financial independence. Okay, so we're going to chat a little bit about how you buy, invest and borrow throughout your lifetime without increasing your taxation. And by absolutely increasing your wealth. We're going to talk about the most powerful wealth retention process that's ever been developed. How you can address risk and tax and keep both of those away from your wealth. Real life use cases, those are going to be really important and helpful for people to see. Controlling how you finance your business, your personal expenses, all the things that you need to finance throughout the course of your lifetime without worrying about the banks, market risk or tax risk. How to stop sharing your profit with Revenue Canada or the irs. How you can get started today or grow your system today. If you already have a policy or more than one, you're going to be inspired to expand your program because you're going to recognize that it's the right thing to do. And secondly, if you don't already have a policy in place to begin implementing this process, you're going to be inspired to put a policy in place because you'll recognize that it's the solution to the problem. You're going to be able to take advantage of high caliber opportunities. That is so important because when you have ready access, money on demand, on your terms, opportunities of high caliber will find you. That's what my late mentor, R. Nelson Nash said so often, and I am living proof, and so are thousands of our clients, that he was absolutely 100% correct in saying that. Now if you can relate to at some point in your life having a mentor, maybe you have a mentor in your life right now, maybe you have more than one. Let me introduce it to a few of mine. This gentleman that you see in the picture, his name's Joe Polish. He runs an organization named the Genius Network. And he wrote this amazing book that you should absolutely get your hands on. It's titled what's In It For Them? And Joe often says that life gives to the giver and takes from the taker. So something that will resonate very, very clearly with you. The second mentor is Dan Sullivan, who founded Strategic Coach. And one of the things that Dan said to me, he said, jason, none of your future plans matter financially if you don't have good health in order to achieve them. So in this picture that you see with Dan and I, I'm 42 pounds heavier than I am today. And so I'VE placed a very high degree of emphasis on health, wealth and giving in that exact order. So I've spent the better part of a year on my journey of health and strength training and it's been paying dividends in energy, in productivity, in just being more present and being just more active in all aspects of my life. And so I just wanted to share this with you because if you show me someone in good health, I'll show you someone with a thousand dreams. If you show me someone in poor health, I'll show you somebody with just one dream, and that's to regain their health. And so that's a big emphasis that we're placing this year. Health, wealth and giving in that exact order. The late R. Nelson Nash serves as our inspiration. Always has, always will. And if you haven't viewed the Nelson Nash documentary film that I had commissioned on him, you can go to Nelson Nash film.com Again, that's Nelson Nash film.com and when you get there, you'll be able to view the one hour documentary on the house at no cost. I know you're going to love it. Nelson said, among many great, what we refer to as Nelson's Nuggets, he said that you've got to think three generations past your own and learning to think long range is extremely important. I've learned personally from NELSON to think 70 years down the road, I'm not going to be here and neither will you. But the fact is that most people in North America can't think past this weekend because unless you understand the problem, the solution just won't matter to you. So let's begin with the problem. Banks are not your friend, plain and simple. That being true, all of your money is flowing through the books of someone else's bank right now. Except for those of you who have already begun the process of reclaiming that banking function and taking control of it at the you and me level, which is exactly where the banking function should be held. We're in one of the greatest financial messes that we've ever experienced on the planet. And it's all courtesy of the central banks. Now, we've all had major expenses throughout our lifetime. How are those expenses financed? If I AM to address 99.9% of the general public in North America, they're financed through cash, leasing loans or credit cards. That's how you finance all the things that you need throughout the course of your lifetime. And all of these things are financed through someone else's banking system. Think about all of the income that you earn and the source or sources of that income. The fact is, you're doing all the work, but everyone else is getting all your money. Think about what's happening presently in your life. You earn an income from some source. That income flows onto the books of someone else's bank. You then begin the process of systematically transferring all that money away from you and by proxy, every generation that comes after you. Because every time you swipe a debit card, complete an online banking transaction, pay a bill, you're permanently giving up the opportunity to use that money again and to earn interest on that money again. And it's not just permanent lost opportunity for you, it's permanent lost opportunity for every generation that comes after you. Is that a problem? Now, understanding that, we all agree that this is a problem. We need to understand the flow of money. It has to come from a source. The question is, who owns the source? You've got your income sources flowing to the books of someone else's bank. All your payments, debit transactions, your housing expenses, your vehicle expenses, your business equipment, if you're a business owner, you've got passive income, rental, real estate income, dividends, interest income. It's all flowing through the books of someone else's bank. Your company's revenue and expenses, all flowing through the books of someone else's bank. If you become the bank owner, the banker, the borrower, and the depositor. So that's a quantity of four characters in the financial play. If you become all four of these characters that I've just mentioned, you can never lose money.

Do you feel like you're not taxed enough in Canada? The truth is, and it's not much different in the United States, that the average family pays 43.5% of their gross household income in taxes. The more you make, the more they take. This guy just filed his tax return early and he's a little bit. He's a little bit frustrated, to say the least, as to how much tax he's paying. Think about this in your lifetime, how much money flows away from you in the form of taxation. Not just income tax, but all the other taxes that you pay. The government is constantly hovering over your assets, your income and your savings with a giant fork and knife just ready to consume them. You've got to understand how to shield your growing pool of money from taxation. We're going to show you how to do that. And it's perfectly legal, it's perfectly compliant as it relates to the exemption and the tax code. We're going to walk you through all of that tonight. Now, who's most at risk for this excess taxation? Any guesses?

If you guessed, you, you're absolutely correct. Now, I want you to examine all of your existing assets, both personally and corporately, if you're a business owner, and ask yourself which of my assets are a sitting duck for future tax hikes? Because we all can agree that the government's going to need more money in the future, not less. Where on earth do you think they're going to get it from? They're going to get it from taxable sources. And if they run out of sources, they'll create more. And so it's important to understand that you can shield your growing pool of money from excess taxation. You can shield it entirely. The fact is, is that if you have taxable savings or assets, you have a problem, and so do your beneficiaries. The worst thing to inherit is a taxable inheritance. That's the worst thing to inherit. Now, I'm afraid it gets worse. 34 and a half cents of every disposable dollar is paid out in interest. I'm not talking about an interest rate. I'm talking about interest volume. Folks, what are some examples of interest payments in your life? Mortgage, credit cards, home equity, lines of credit, student loan. These are all really good examples of interest payments that you experience throughout your lifetime. Now, I want you to take a moment and think about all the money that's flowed through your hands and your family's hands up to this point in your lives. You've all probably had and were blessed to enjoy family over the holidays. I want you to picture in your mind all of those family members sitting around the dining room table congregating in your home. And I want you to think about all the money that's flowed through all of your hands up to this point in your lifetime. Could you write me a check for that amount of money right now? The fact is you can't. Because remember, you did all the work and everyone else got all your money. This is how it makes most people feel.

And if you're a business owner or an investor, maybe you invest in real estate, maybe you invest in companies, maybe you invest in insert whatever the investment is. The problem is only amplified. Neither you, your family or your company will ever see any of that money ever again. You earn an income, you're taxed on it. All of your money flows to someone else's bank. You transfer all that money away from you systematically. You repeat that cycle over and over and over again. And where does it all end up? Right back in Someone else's bank. How does that make you feel?

Tell me if you can relate to that. You should stop the cycle. But you need to know how you should stop the cycle. Because this means more money for your dreams, more security for your family and the control to truly enrich your life and the lives of others. Have you ever experienced frustration or limitations dealing with a traditional bank? Well, I got news for you. Me too. This is the look on our faces when we have to fill out all that Mickey Mouse paperwork and answer a mile long list of questions to justify why we need the money. That feeling of being just another account number lost in a sea of transactions and red tape, nosy credit applications and borrowing terms that you simply do not control. I felt the same until I found the process of becoming your own banker. My wife and I financed our first home for 426,000 in 2008. This was April of 08 and we had a 40 year amortization schedule and a very low rate of interest. We began implementing the process of becoming your own Banker in 2008. We paid off the Commercial bank in seven years. That's 33 years ahead of a schedule. We're growing an additional one and a half million dollars of wealth by simply redirecting those monthly payments into our own family banking system versus systematically continuing to transfer that money away to someone else's system. Isn't that good. But getting this done 33 years ahead of schedule is remarkable. If we can do it, you can absolutely do it as well. Your timeframe will be different than mine. The infinite banking concept. This process of becoming your own banker is the solution to the problem. I know firsthand how it can perpetuate everything that you do in your financial world. But in order to do that, you've got to get into the banking business. The family banking business business. This is not just applicable to you as an individual. This is applicable to the family. Let's review three basic facts. The first fact is that your money must reside somewhere. The second fact is that you finance everything that you buy, even when you pay cash for things. People think that when they pay cash, they're not financing the transaction and that's simply incorrect. You're always working with borrowed money. You either pay interest to someone else to access their pile of money or you permanently give up interest that your cash could have earned. Otherwise, you're always working with borrowed money. There are no exceptions. The third fact is that someone must perform the function of banking in your life. Here are three steps that you should take. And because by doing so going to empower yourself with financial independence, you gain control over your economic future and you unlock wealth creation that aligns with your personal values and goals, not the stockholders of the banks that you're leaving your money to reside in. You want to unlock wealth that aligns with your personal values and goals, not the stockholders at the bank and not the mutual fund institutions and not Wall street and definitely not Bay Street. They're not your friend. What they want is your money. They want control over the use and liquidity of your money. And I can absolutely tell you, regardless of political leanings, the moment you hear anyone from government say we're here to help you, don't run. You need to get in a rocket ship and blast yourself away from that altogether because that's just simply not true. Everybody wants control over the use and liquidity of your money. I need you to intentionally build a pool of capital inside of an entity to that guarantees daily growth of cash value, ready access to money on demand, on your terms. Secondly, we need to recapture the interest, the money that you're presently paying to banks to finance companies for all the things that you need to purchase throughout your lifetime. Thirdly, we got to protect your livelihood, your real estate portfolios, your investments, your retirement account balances, everything that you worked your butt off for from being decimated at the highest levels of taxation. Where are you going to build this pool of capital? Inside of dividend paying, participating whole life insurance.

Now, most people simply don't understand how dividend paying life insurance contracts work. Why? You want to know why? Because who's buying the most dividend paying life insurance? Banks are. So do you think that they want you to understand how these contracts work? The industry itself doesn't even teach the advisory community how these contracts work because the emphasis is placed on the death benefit characteristics of these contracts, not the financing characteristics. And the fact of the matter is is that these contracts possess far more financing banking characteristics than they do death benefit characteristics. And so it's super important to understand how they work. Now let's mimic what the banks do and we're going to do okay. To build wealth, you've got to reckon with risk, tax risk, market risk and liquidity risk. Dividend paying life insurance addresses all three of these risks and what's in it for you? You get ready access cash on demand on your terms. That's good. Without triggering tax and without reducing the asset's value, you eliminate your market risk, you get contractually guaranteed daily growth of cash value and a certainty of Lifetime access to cash. You become a co owner of the life insurance company sharing in the profits which is a new business that never existed before that requires none of your time, none of your talent and none of your energy. If you can crank up another business that doesn't require any of your time, talent or energy or all it requires is capital, that's it. Dividends, once declared, which happens annually, cannot be repossessed and they cannot lose value. Your cash value grows daily and it cannot go backward regardless of what's happening in the economy, with political turmoil, with the real estate cycle. And every single time a dividend is declared, it is contractually guaranteed to be paid and it cannot be repossessed or lose value ever. You pay zero tax on the daily buildup of cash value. You pay zero tax on the death benefit proceeds. You pay zero tax on the annual dividends. When you elect to use those dividends to buy paid up additions at no additional cost. This instrument dividend paying participating whole life insurance contracts are the greatest exemption that exists in the Canadian and American tax codes today. There's no greater exemption. So for how much of the exemption do you want to take advantage of while it still exists? In other words, if you're just getting started, it's going to be a little amount. If you're already underway, you're going to want to expand your advantage. So you're going to want to grow your program. That is what you're going to be inspired to do tonight because it's the right thing to do. Logically speaking, it's exempt from passive investment income tax rules. You can be positioned to never pay tax on the increasing cash that you access over your lifetime. Would you sleep easier at night knowing that your money was no longer subjected to tax risk, market risk or liquidity risk and your corporation can pay for it, own it and provide massive tax advantages? Isn't that good? Jim thinks so. Now you should know about how to use these contracts as a tool to implement the process of becoming your own banker. The infinite banking concept. And you should have a great who that can show you how to become your own banker. Our advisory team at Ascendant are the very best coaches and mentors of this concept in North America. All due respect to my amazing colleagues from across North America who all run their practices and serve their clients really well. All due respect, but I'll tell you, I shout from the rooftops and give all the credit to my teammates or their degree of expertise and specialization and experience as evidenced by the thousands of 5 star Google reviews Across Canada and now emerging in the US of people sharing what their real world experience is. In dealing with the ascendant financial team, regardless of the advisor that you work with, you get the entire team. Your advisor is your coach, who's responsible to you, not for you, but responsible to you. The reason why you should schedule a meeting with us is because logically this is your opportunity to discover personalized methods of implementing this process in your life. To elevate your wealth building journey, to take the first step toward a bigger financial future where your financial goals become achievable realities. Not, not pipe dreams, not hope and pray, not gambling in the stock market. Where your financial goals become achievable realities on a foundation of contractually guaranteed growth, liquidity, access and control. When you have all four of those elements, you are the one that's going to accumulate and more importantly, keep that wealth in the family. Grab your phone, text the word schedule to 780-809-4599. You're going to get connected with the right person on my team who's going to help you and have a personalized conversation with you. And don't bring any money to that conversation. They're not going to ask you for any. This is about creating a personalized solution to your personalized problem. Becoming your own banker, right? The process, it gives you the ability to control how you finance life's major expenses. Now I want you to take a moment and think about all the money that has flowed away from your family up to this point in your life. Is it a little or a lot? Now, do you want all the money flowing through your hands or into your hands? Take your pick. Because people who are implementing this process are gradually, systematically and incrementally redirecting flow of money into their hands, not through their hands. There's a big difference. And when do you want to stop that money leak? If I was to walk into your driveway or your parking garage and take a flathead screwdriver and jam it right into the gas tank of your vehicle and it started leaking gas everywhere, what sense of urgency would you place on getting that repaired? So when you understand now the problem, which is that constant leak financially of money flowing away from you, what sense of urgency are you going to place unplugging that leak? My hope is a high sense of urgency. And the action step is to schedule a time, get connected with the right person on my team. What do you see as the disadvantages of keeping the money in your family? Zero. None. Zero. None. When we get our annual Family banking meeting. We talk about all the ways that we're keeping the money in the family. We involve everyone, including the kids. Because children have a much higher degree of neuroplasticity than adults do. That's why it's so advantageous to teach a child a new language at an early age. It's not just limited to teaching them a new language, it's teaching them anything. They have a higher degree of neuroplasticity. They pick up on this much faster than adults do. And so involving the kids is really important. What do we involve them in the entire conversation? What are we talking about? We're talking about the money that's being utilized in the family banking system. So when you picture a system of dividend paying whole life insurance policies, you see this pool behind my nephew? That's the family's money pool. It's just full of money. And the family needs access to money in the pool. And then we have to replenish it, right? We can't drain the pool, we've got to get the money back in there. So we arrange for repayment of loans back to the family. So now we create this aquarium of capital and the money keeps flowing back to the family versus flowing away. All these dividend paying policies accumulate cash value that you can borrow against without interrupting any of the growth of the cash value. So you've got uninterrupted growth of cash value which isn't money. It is a net present value of the future payment of a death benefit. But you get to borrow against that net present value on demand, on your terms. And when you borrow a policy from a policy, you're using the life insurance company's money to go and buy the car, the property, the business equipment, insert whatever item you'd like, and you control the repayment schedule of those policy loans. Nobody from the life insurance company is calling you saying, what's your plan to repay the loan? Because the lien is on the death benefit, the cash value keeps rising daily uninterrupted, and it's contractually guaranteed to match the total death benefit by age 100 of the life insured in Canada and age 121 of the life insured in the United States. So every single day that all these folks in this picture are aging, the cash values of all the policies on their lives are growing. And that cash value growth cannot go backward. And the kids get directly involved through the IBC youth program so that they're continually learning. You've all heard the expression that wealth is not Just about making money. My friend Joe Polish from the Genius Network said, listen, it's about not losing it. And not losing it is an entirely different skill set, all of itself. Building wealth is one thing. Not losing it is an entirely different skill set. And that's what we teach you both sides of the coin. Nelson Nash, the developer, the pioneer of the concept, he said that this is not meant to be achieved through the devices of one policy. This is meant to be a system of policies. So again, whatever camp you're in, I haven't started yet, or I have a policy, maybe I have more than one. Thinking about, I'm inspired to expand my program. Regardless of what camp you're in, take that action step, schedule that time to get connected with the right person on my team. So at the first policy anniversary, we began in July of 08. Our first policy anniversary came up in July of 09. So from 2009 to 2024, we had two policies. As of 2009, we have 76 policies. As at today, with 28 lives, individual lives insured. Our annual premiums were 16,809. 648,481. As at today, they'll surpass a million this year. Our annual premiums will surpass $1 million this year. In our family banking system, the expansion is already underway. Total death benefit Half million in 2009 36,741,000 as of today. Total cash value 4250 and.09.3.412 million as of today and will be higher tomorrow. Policy loans $309. Our first policy loan was for a car seat from my firstborn son, Jackson. You could get policy loans for less than $500 back then. You can't anymore. The minimum policy loan now is 500 bucks. We have 1 million 538 million in policy loans out today. Loan amount available, 1.532 million. And repayments $65,000 a month is flowing back to the family banking system, the first bank of low system. $65,000 a month. That's $780,000 a year flowing back into our hands, not through our hands. And we've already had two death benefit proceeds in our family banking system since inception. We no longer rely upon a conventional bank for anything other than the convenience of debit. Isn't that awesome?

$65,000 every month flows back to my family's money pool versus flowing to the books of someone else's bank. So imagine having additional money flowing back into your family's Money pool. How much more could you achieve in your real estate investments, your savings, your lifestyle, your business?

Schedule a meeting with us now. Text schedule to 1-780-809-4599. That's 1-780-809-45 99. We've been empowering our client community since 2008. This number is more than 2000 now. Google reviews. Five star Google reviews more than 2300 clients and growing daily. We have a proven track record, 15 years of specialization, nationwide presence, client trust, lifetime coaching at no additional cost. Expertise for business owners, especially for all you business owners. Think about all the equipment in your business, regardless of the price. Now what Bonnie and Martin were doing is they were following their accountant's advice. Hey, I want you to take money, put it in a sinking fund, meaning set it aside on the books of someone else's bank and then once you've saved up enough, you can withdraw the 400,000, go buy the vacuum truck. You have no debt but you. Nobody explained this to them until meeting me. You now permanently gave up the opportunity to earn interest on that 400,000 for the rest of your lifetime and every generation that comes after you. Horrible. They were permanently transferring that money away. And then they were getting caught in this cycle of invest, save, grow, withdraw the money. Invest, save, grow, withdraw the money. They were facing terminal tax obligations of north of $1.2 million. So what I did, I wrote two checks out. I wrote one check payable to revenue Canada for 1.2 million. I wrote another check payable to the life insurance company for 50,000. I sat them down with their accountant and I said, Bonnie Martin, which check do you want to sign? The small one or the big one? Which one do you think they chose? Small one. And what I said to them is, I said, you get to make that choice now because you're both still alive if death occurred. You're signing the big check and where's the money going to come from? They don't accept any substitutes for money. When you sign the little check, I'm going to put 1.8 million, I'm going to put that away in escrow with your name on it. And someday we're going to show up with a check tax free for far more than 1,800,000. And you're going to utilize the system to purchase all future vacuum trucks, to take care of the maintenance on all these trucks and every other expense involved with operating them. They have employees that earn revenue with those trucks. So I said, listen, if you put another employee on your payroll for 50,000 a year. Is that going to bend or break your company? They said, not a chance. I said, well, put me on your payroll for 50,000 a year. And in exchange for that, what will guarantee ready access to capital on demand, on your terms and the day you walk out, millions of dollars will come walking in exactly when they're needed the most. And the only loser in this scenario is Revenue Canada. So they said, great, let's move forward. They started the process with 50,000 in premium. They expanded by an additional 50,000 per year rather quickly. 1.8 million starting death benefit in four years into their deal, they financed a $400,000 vacuum truck with their own family bank. They control the repayment schedule. To recapture all that money, they've created that family banking system of their own, which they refer to as their own ocean of cash. Passive income in retirement is assured with an ever increasing permanent death benefit of 6.4 million today and rising every year daily. Cash value growth, annual dividends, and a total death benefit that are all non taxable. They have ready access to more than 2 million in cash and and rising daily. Bonnie and Martin are doing just fine. And they've insured their grandkids, their children. They've created the family banking system. They now have even more policies in their program. Alan and Janet Antonio, real estate investors. Before the family banking system, they were unsuccessful with investing outside of their real estate. They had lots of money in tax qualified plans, registered retirement savings plans. They turned to real estate to build a portfolio, making the wheels of the banking business and the real estate business turn in that order. Their niche was fourplexes. They owned multiple fourplexes. They began creating their family banking system. They purchased their very first policy. One year later, they added five more policies to their program. They expanded that to include all their grandchildren and their children. Within three years, they eliminated three mortgages 13 years ahead of schedule. They finance their daughter's first home entirely through their family banking system. College funds for their grandkids. Passive income and retirement are both assured. They've created generational wealth for their children and their grandkids. They have 4.1 million in permanent death benefit rising every year. Here's what they said in their own words. The family banking system Jason and his teammates have taught us is providing financial security and certainty for all of us in our family. And it is definitely a win, win, win. Everyone that you see in this photograph is insured. My late mentor who's right here beside me. Every meeting, every interaction that I have, I think about him and miss him every single day. He often said. Process of becoming your own banker. The infinite banking concept is ridiculously simple. It does not need to be sensationalized. You create a system of policies. You pay premium. You're the depositor. You access policy loans to control how you finance all the things that you need throughout your lifetime. You're the borrower. You dictate the repayment schedule of your policy loans. You're the banker. You participate in the divisible surplus generated by the life insurance company. Because you co own the life insurance company now. You're the bank owner. You've become all four characters in the financial play. You can't lose money. Here's Jim. Starting at age 45, he paid 595,000 in premiums. By age 65, here's what happened to Jim. His family accessed 1.785 million to finance the things that they wanted. Jim's net death benefit at age 90 was 2.714 million. He refilled his family's money pool with 2.38 million. That's the original 595,000 in premium came back to the family plus the 1.785 million that they spent. All of that was replenished to the family's money pool plus an additional 334,000 in additional tax free windfall. So when you add the 595 plus the 1.78 million, plus the 334,000, that gets you the 2,714,000,000 death benefit. So did his family trap all that $595,000 into a vice into a tax qualified plan? How much would he would have needed to earn after tax in order to achieve even remotely close to the same outcome? Jim didn't take on any risk. The insurance company contractually guarantees the growth and they can't repossess it. Jim got off the stomach churning roller coaster ride of the stock market and hopped on to the elevator of his life insurance policy. The elevator only went in one direction. Up. You can put yourself in this position and you can make your financial life ridiculously simple. Stop complicating it. The banks want your money, not for your benefit. If you think it's for your benefit, then you're just naive and you don't understand what's really going on. The life insurance company cannot inflate their money supply. Commercial banks do it. Every single time you borrow money from them, they create money where no money existed before. Life insurance companies cannot do that. So where should your capital reside? What better place Is there than here? Let's do a quick crash course in logic. As you build your own warehouse of wealth, you grow a pool of capital readily accessible, on demand, on your terms. Your family money pool cannot be repossessed or lose value. Puts you in a financial position of total and absolute control. How much of your money do you not want residing there? Would you ever object to putting more money in? No. So schedule a meeting with us now. Text the word schedule to 1-780-809-4599.

Where is the life insurance company putting money to work?

The insurance company has to keep money in constant motion, right? Because money that isn't moving isn't worth anything. And so the insurance company has to put capital to work. And they put it to work primarily in instruments that have a guaranteed repayment schedule. Now we can't use that word lightly in the financial industry. A guaranteed payback schedule. So we're talking about fixed income, not the fixed income that you can buy from your stockbroker. These are large blocks of capital that pay really good interest. The insurance companies earn double digit returns on their policy owner's equity and they have to keep that money in constant motion. The insurance company is not speculating on the next hot stock. The insurance company cannot do that because they are contractually guaranteeing the payment of death benefit proceeds and the accumulation of cash value and the divisible surplus being distributed to all the owners of the company. There's no stockholders in this deal. It's the participating dividend paying whole life policy owners that are the sole beneficiaries of that equity. And the insurance companies got to make sure that they're doing a very good job deploying that capital. And guess how many years the insurance carriers that we work with have failed to produce profit? If you said zero, you're absolutely right. And what about inflation? Let's address inflation. I just paid premium on a policy that renewed in October. I put in 20,000 of premium in October of 2023. The annual increase in cash value from 2022-20 was $30,000. Does that address inflation or beat the pants off of it? But the fact is that policy's been enforced since 2012, so that phenomenon didn't happen overnight. But as Nelson said, listen, the time's going to go by anyway and the fact is you're going to need to use some money. And the fact is your money must reside somewhere. So what better place to have it reside than here? And if you want to beat the pants off of inflation, then you got to get started.

Can we have corporately owned policies and.

Oh yes. Oh, oh my goodness. Ye. Yeah, yes. The, the answer to that, you absolutely should. I was just talking to a gentleman runs a, a really successful business. The business generates a dollar in revenue and he's got 20 cents left over from every dollar of revenue generated. Regardless of where your business is, if your business is producing profit, okay, so you have income, you subtract all the expenses associated with operating your business, you put a provision in there to pay the thieves at. Oh, sorry. To pay revenue in Canada and then whatever's left over is profit. So he says, what I was doing is I was investing and you can invest through your corporation. You can buy non registered investment vehicles. He's like, oh my God, I was subjecting the growth of that to passive investment income tax. Yeah. Not only that, God forbid you die. Your surviving heirs need access to the value of the company because that's what they've been relying upon to take care of them. Going to get double taxed. So not only are you taking a right hook while you're alive, the government says now that you're about to be six feet under, let me just kick you right in the teeth on the way down. By implementing this process where his corporation, his holding company, purchases the policies, pays the premium, owns the contracts, he shields all of that growth from excess taxation and he avoids the double tax trap entirely. And his surviving heirs get all the value out of the company in the form of tax free capital dividends. Is there anything stupid about doing that? That's all that I asked him and he's like, nope, let's do it. I've never had a client corporate owned policies or personally owned policies, never had a client call me and say, jason, I'm really pissed off that my cash values keep rising every day and I'm paying no tax on the buildup, it's really bothering me, like it's just never happened.

So how does it work for auto insurance? And I'm just going to assume that what they mean is like maybe self insuring vehicles and that sort of thing.

Oh, let me give you a prime example of that. Okay? If you've got a few kids in the family, if you were to add up the auto insurance premium on all three kids, it's going to equal your mortgage payment. So why wouldn't you build a pool of capital in your family banking system and structure the kids automobile insurance coverage so that you have the highest deductible possible and the least amount of premium? Because you'll have all the deductible available in the family's money pool and then what you saved on the automobile insurance, guess where those savings are going to go?

Right back in the system, right back.

Into the family's money pool. But people don't stop, right? They don't stop to process that and say whoa, wait, oh my God, you add up those auto like I have four kids, three girls and a boy, two of which my daughters are twins. Their combined auto insurance premiums will be more than the average mortgage payment. We're covering as much of this deal as possible through the family banking system.

Basically what happens to the policy system? What happens to the process? What if I'm in Canada and I decide to move and leave the country and I'm a non resident of Canada now?

So you would still maintain total access to money on demand. The insurance company would simply just need to know where to mail the check. Unless you maintain banking in Canada, where you have a reciprocal relationship with a bank in the United States. So for example, we conduct business as you know, burn. We do business in Canada and the U.S. and we also because in our low family group of companies, so we have 13 companies and I do business in the United States and so I have money that's paid to me personally. And so through some of the major banks here in Canada, you can have a US domicile account and maintain your Canadian account and move money with the click of a mouse from one account to the other. So the insurance company can still deposit your policy loan proceeds into your Canadian account and then you can just move them over to whatever domicile account you have. But we've had many clients who have relocated to the United States, clients who have relocated to Mexico, clients who have relocated overseas and they still maintain total and absolute control over their system.

I had a client who spent three or four years in Australia and it wasn't an issue. I mean there's a couple extra steps you don't having to deal with international banking and whatnot, but pretty straightforward. How can I introduce this concept to my family? Because we don't have policies yet in my extended family members.

Give them the link to this replay and gift them a copy of this book. You have no earthly idea the impact that you can have on someone's life by giving them 92 pages. It'll take less than an afternoon to read it. And if your family, friends, your colleagues, people who you think would benefit from the gift of this process, give them the book and let them read it. If they don't Read it, don't force them.

How much time should I expect to spend managing my family banking system doing the work that banks do?

So we update our system of 76 policies once every three months and it takes takes the better part of an hour and a half or so, two hours to update it.

But imagine, you know, on average if a person has maybe two policies, four policies, and that would take less than a half hour.

And with that said too right, Jason, you're building a system of policies and along with that, as you build and expand your system, you're going to build and expand how you manage it. And I'm sure if you would have started 16 years ago where you're at today, you would have been like, you don't have the infrastructure in place, you don't have the rhythm. But now you've just got a rhythm and a process that is easy for you to follow because it's practice, right?

Well, and you don't have to reinvent the wheel because when you become a policy owner with Ascendant, you get password protected access to a client portal that has all the resources that you need to manage your system. And we do quarterly group client coaching sessions that don't cost you anything. We record all of those sessions. You get to network with like minded people in those sessions and if you can't attend, you just log into the portal. Those videos are all there, ready to be consumed at your convenience 24, 7. All you need to rely upon is a good Internet connection, not our hours of operation. You get to access that on demand, on your terms. And so just that alone is priceless because we take your time frame and compress it significantly.

Can you own multiple policies on one life? And the answer is absolutely yes.

Yeah, you sure can. All my children, for example, each One of my four kids has six policies on their lives already. And my oldest is 15, my youngest, my twins are 11.

This system is so great. How come everyone isn't doing it?

Those who understand it are in Canada alone, several hundred thousand dividend paying whole life policy owners, a small fraction of them understand the financing characteristics of these contracts. The industry doesn't talk about it because the industry focuses on the death benefit characteristics. And so my response has always been the same. Those who understand it are doing it. But I want you to really think about this. If this portion of society that I'm about to mention to you, the high net worth, the ultra high net worth, I'm talking about the top 10% income earning members of society in North America, that is the portion of society that needs life insurance death benefit the least, but yet they're the greatest purchasers of dividend paying whole life insurance contracts. Remember what Warren Buffett said? He was asked this question, he was being interviewed on CN and the question was in relation to segment of the population who are struggling financially who would be otherwise characterized as being poor. Warren Buffett responded to the question that was posed to him. He said, well, if the poor no longer want to be poor, all they have to do is what the wealthy do. And he prefaced that by saying, I'm just answering this logically. I don't mean to intend that everyone who's struggling financially has the means to do what the wealthy do. He's just communicating logically. My point is the teaching moment is that if that ultra high net worth segment of the population who needs the death benefit the least are buying the most dividend paying whole life contracts, shouldn't that be a signal?

They're not doing it because they're dumb folks. They're doing it because they know something that you didn't know. And Nelson never said. This is the secrets of the wealthy. I'm going to show you the secrets of what the wealthy do. That's not infinite banking. That's not becoming your own banker. The banking function, whether you're making 10 bucks an hour or you're making 10,000 bucks an hour, this is not a concept that is somehow revealing the secrets of the wealthy. Everybody banks. That's a fact. Whether you're wealthy, middle class, financially struggling, you bank and you should be controlling that function because the higher degree of control that you assume, the more wealth you accumulate. So the good news is not only do you get to decide where you start, but you get to decide how much of the banking function you want to ultimately gain control over.