Golden Rules of Nelson Nash

But the real asset was a stream of payment. Two years in he took a policy loan, he paid off the car completely. And the payments that he was sending away from his family for the car financing, he just redirects that payment right back into his own system. So he's not changing his cash flow, he's not working any harder, he didn't take on any risk, he just changed the process to go about financing things. And the real asset was the payment. So by taking over the debt of the car car, he converted that car from a depreciating asset into an appreciating asset because the true asset was a stream of payment.

Now creating your own banking system. So to, to become a successful banker, or I should say to become a successful infinite banker, we follow some set guidelines from Nelson Nash. We call them Nelson's five Golden rules. So number one is think long range. So when Nelson set that golden rule, he's not saying long range meaning 10, 15, 20, 30 years. He's saying think long range. Think three generations past yours. That is the long range thinking that we want to get accomplished. That's the long range thinking that we want to empower our clients with long range. Three generations past years. Don't be afraid to capitalize. So what Nelson says is when you are ready to get started to practice becoming a banker, don't be afraid to capitalize your policies with premium. Because isn't it true that all your money is flowing to the books of someone else's bank and you're okay with it? Why don't flow all that money to the books of your bank first and then finance the things that you need to finance in life. So don't be afraid to capitalize. The more you put into the system, the more you can access from the system. Don't steal the peas. I think Henry did a fantastic job. You are a co owner of the insurance company. When you take a policy loan, set an amortization back to your system so that you have more money coming back to your system. That's going to be more profit, but it's also more money coming back to your system so that you can re access more money in the future for the things that you need money for. Don't do business with banks for the purpose of financing. The reason why we are in a very uncertain time right now is all the booms and busts that keeps happening in the marketplace. One of the main reasons is the central banking system. So when we go to bank we are contributing to the problem. So when you go to the bank to finance things. We are contributing to the problem called inflation. Because banks create money from thin air. The money never existed before. When we actually go to the insurance company to borrow money, insurance company cannot fractionalize their money pool. They'll give you what they have. Whereas banks get to fractionalize the money. When you see the money, it's fake, it's not even there. So don't do business with banks. Rethink your thinking. And what we also say is, develop your ability to rethink your thinking.

We at Ascending Financial, anybody at our team, including our administrative team, who are fantastic, by the way, we all practice what we teach. So when someone comes to us to implement this process, we want to make sure that this is a good fit for you. But we also want to make sure that we each are good fit for each other. Because it's not about a policy. Policy is just a tool. That's it. It's all about what happens once the tool is in place, that the policy is in place. That's when the coaching and ongoing planning and strategizing sessions happen. We develop a relationship with the clients and that relationship is going to be all the way till the end of time. So we meet with clients because they'll have questions and questions are good to ask. And the purpose for this meeting is also to rethink our thinking. And Nelson's book is a workbook for those meetings. So we always refer to a chapter on Nelson's book as a continuous teaching, continuous learning. And then we also host group client coaching sessions where we invite clients in a zoom platform and then we pick a topic which clients want us to teach on. And we teach that in a group setting. We are here to coach. We are here to serve. We are here to work alongside you to implement this process. That's where we get our energy from. Policy is a policy, just a tool. Now I'm going to show you a testimonial from one of our clients, David Klein. So he was kind enough to give us his testimonial. In fact, we did an interview with him on our podcast channel called Wealth Without Bay Street. So, David. So he's in Edmonton, David. He lives in Edmonton with his family. He says two years after opening our first policy, we took out our first policy loan and we paid off the bank loan. Remember capitalization? We have to capitalize a banking system before we use the banking system. So that two years for him was capitalization. He just waited two years because he had a clear objective. And the objective was to pay off the debt to the bank on his wife's car. So two years after opening his first policy, he says, I took out a policy loan and paid the bank completely on wife Subaru, redirecting the payments from the commercial bank to our family bank. So think about it. No car itself is not an asset, it's a depreciating tool. It's a depreciating vehicle, it's a depreciating asset, right? But the real asset was a stream of payment. Two years in, he took a policy loan, he paid off the car completely. And the payments that he was sending away from his family for the car financing, he just redirects that payment right back into his own system. So he's not changing his cash flow, he's not working any harder. He didn't take on any risk. He just changed the process to go about financing things. And the real asset was the payment. So by taking over the debt of that car, he converted that car from a depreciating asset into an appreciating asset. Because the true asset was a stream of payment. His family can do a lot more with money coming back to the system, coming back to his family, versus away from him. And then three years later. So five years in, he said, we took out another policy. So remember Nelson's golden rule, don't be afraid to capitalize. So he started with one policy, now they're capitalizing into another policy. It's not supposed to be done in just one policy. It's supposed to become a system of policies. And as you start recapturing more payments that are leaving your family on the things that you finance, you'll have opportunity to flow more money through more policies going forward so you can control more banking function in your life. So five years. So after three years in so total five years, we took out another policy loan and skipped the bank entirely. This time using the money to buy me a brand new suv. So he was able to take a policy loan and he bought a car and he owns the car free and clear. The policy loan from the insurance company does not show up on TransUnion or Equifax. It's a private arrangement between you and the insurance company. In year five, he also had another child, so took out another policy on him. So, so here's something good that David is sharing. You can also own policies on your kids. That's the best gift that you can give them. A gift that will never ever end up in a toy graveyard as well as second policy on myself. So now they're really capitalizing with five policies now in force. After five years, our mortgage was coming up for renewal. Instead of renewing it with the bank, we took out a policy loan from all five policies and we paid off the mortgage completely. So they took over the debt on the whole house. They technically now own the house free and clear because policy loans from all policies didn't show up in credit union reg for fax and all the stream of payments now are coming back to the family. Do you think that's stress free way of living versus having someone else control the banking function in your life? And this is what we do guys, every single day. We get energized when we see money coming back to the family versus away. That is how we measure our success.