How To Become A Canadian Wealth Creator

This is how you become a wealth creator. This is how you are the one who is collecting and accumulating the cash. This is how you start to become or do practice what the minority of people in the planet are doing to create wealth instead of the majority struggling financially. We have to be thinking about older Vern. We have to be thinking about my children and their financing needs and the things that they're going to need and want to accomplish. And then how do we transfer that wealth in the family systematically over time While I maintain 100% of the control and we do it in a very tax efficient manner.

How do we actually use the concept to become a wealth creator? You are your greatest advantage. We start here at zero. And now imagine you're currently saving money in someone else's bank. In fact, I had a good conversation with somebody a couple of days ago and they told me that they pay cash for cars. And they told me they paid somewhere around $97,000 for cars, their last three cars in just the last couple of years, $97,000. And I said, wow, that's amazing. You finance cars with cash. I said, how did you accumulate enough cash to pay cash for cars? And he said, well, I saved the money. I said, oh, okay, well where did you save the money? He said, in the bank. I said, oh, like someone else's bank? He said, yeah, I saved the money in someone else's bank. And I said, okay, then you access the money and then, and then you purchase the cars. He said, yes. So let's contrast that with you can save money in a tax free savings account. You can save money in a glass jar, in a safe, a regular savings account, a checking account. You can save money in cryptocurrencies, you can deposit money anywhere you want. These are all just tools, they're just buckets for you to make deposits into. Well, I choose to, to save money as premium deposits in my permanent participating, dividend paying whole life policy contracts. I currently have 10 contracts in our family system and I'm working on my 11th as we speak right now. I'm always expanding my system because as I achieve objectives and I earn more income, I have more capital available and that capital must have a home. So I always prioritize my premium deposits and my policy loan repayments over any other use of money. And then when opportunities show up, I access the money from my system to achieve those objectives. Now imagine we're depositing money. I don't care what that number is. Let's say it's 88k per year, let's say it's 10k per year. It doesn't matter. The process works exactly the same. If I deposit a bigger number, I'm going to be able to access bigger numbers. I'm going to have a larger death benefit and so on. If I just deposit a smaller number, I'll have access to smaller numbers. We can always build the system over time. Okay, you start where you start. You start with an objective in mind and a sustainable premium that you're confident in. And then you can always build and expand the system over time because guess what? The time's going to go by anyway. You just got to get started. It doesn't matter how much you get started with. Now we're depositing this premium on a, on a. It could be deposited on a monthly basis, it could be deposited on an annual basis, it could be deposited on a combination of both. To keep things simple, in a perfect ideal world, I'm depositing premium one time per year. Bam. I slam the cash into the policy and then I can start implementing. So now I'm putting my cash into the policy. Now this green line here is representing the uninterrupted growth of the cash value that is chasing that death benefit by age 100. So that cash value that the curve should be more like this. That cash value is just going to accelerate over time. Now I and piling money up into the policy as premium and cash values accumulating. Now I have an opportunity or a problem that has to be solved that shows up. I can either, in some cases, depending on the company, just make a quick phone call. I always coach my clients to fill out a form. You know, if you were going to go to a bank and you were going to access capital, you would complete an application, wouldn't you? So, so we want to treat this process as much like the banking process as possible. So I like to tell my clients to fill out a loan agreement that they would send to the life insurance company for whatever amount of up to 90% of the total cash value they can borrow at any time they ask for it from the life insurance company. So you can ask for a specific dollar amount or you can ask for the maximum loan, but in this case, we're going to ask for a specific dollar amount. Again, Maybe that's that 40k or whatever it is for your car. So now this line, we don't actually drop below the line. This is just a visual, but it ties into that debtor saver example we shared earlier. So now what we've done is We've borrowed money from our own policy without. This phenomenon is still going to occur. The cash value is going to grow every single day at the same rate as it would have or at the same schedule as it would have had you not touched the cash in the first place. So whether you access it or not, it's going to continue to grow. And now, just like, like the debtor example, or even the saver I can deposit. We call these policy loan repayments. Remember earlier we said that this is going to require a new way of thinking. You hear the word loan or you hear the word payment, and we automatically associate it as a negative thing. Well, Vern, I don't want to borrow money from my policy. What if I could just use my own cash? Well, go ahead, use your own cash. The money's gone forever. Is it doing this now? No, it's not. We call it a policy loan, and we call it a loan repayment, but it's simply just a deposit right back into your own system. Now you own the contract. Who is in control of that repayment schedule? If you said me, the contract owner, you're absolutely 100% correct. So I can create whatever payment amortization schedule I want to create to replenish the pool that I have borrowed. And as I'm paying this back, okay, the cash is always going up and I always have access to the sandwich in the middle. As I'm paying back the loan, I have access to more and more capital every single day because I can go back and re access 100% of what I've paid back to the system, plus 90% of that daily cash growth. So I'm always getting access to an ever increasing pool of financial value. If a problem shows up, or even, hey, what if an opportunity shows up that requires you to redirect that capital somewhere else or whatever, you can change and modify or pause or increase your payment, your deposit, your loan repayment back to your own system. You can, you're in control of all of that. We always say, if you're going to access a policy loan, make sure that you have a policy loan repayment schedule in place before accessing the money, or you have a plan in place to replenish the capital at some point in the future, you must have a plan, because if you are going to access money from someone else's bank, you're not going to be able to do that without agreeing to repayment terms. So we want to take that same programming, that same discipline that you just automatically have, and we want to Transfer that to the process of becoming your own banker. And now that's how ridiculously simple it is. You're not actually doing anything different than you're already doing today. You're making deposits, you're accessing money and you're replenishing that money. Think of it as it relates to your checking account. When you deposit money into a checking account, you could refer to that as a premium deposit. When you access money from your checking account to achieve an objective, you could consider that a policy loan. Now when you get paid again, or you put money in your savings account, you could consider that a loan repayment. You're just depositing more money right back into a checking account. You just don't think of it as a premium or a payment or a repayment. We don't think of it that way. We just think of it as a new deposit that showed up. So we just got to change our thinking. Take that same deposit that lands in my checking account. In fact, I did it yesterday. I request policy loans each month to take care of all of my living expenses and all of my business expenses and other objectives that I have. I request that money from my own system. Well now when my compensation shows up, I have no need for the use of that money because the life insurance company has already given me the money from their pool of money to fulfill that objective. So when my money shows up in the commercial bank, I pull that out and fire it right back at the insurance company as either as premium or loan repayment as quickly as I can. Because I want to transfer that energy right back to the insurance company so that they get use and control. They can grow that capital so I can access that money again whenever I ask for it. But they can grow more profit to share with the community, you, me and all of the other participating policyholders. So we're just doing exactly what we're already doing today. This is how you become a wealth creator. This is how you are the one who is collecting and accumulating the cash. This is how you start to become or do practice what the minority of people in the planet are doing to create wealth instead of the majority struggling financially creating your own banking system. Now, we're really blessed because we had the greatest teacher as it relates to this process. The pioneer, the founder, R. Nelson Nash. And he left us so many gifts in terms of how to implement this process and how to coach our clients. And this is my favorite teaching tool. All the wisdom is in this little 92 page quarter of an inch thick book. But Nelson has taught us some specific golden rules that we can follow as it relates to this process to get started to create our warehouse of wealth. Nelson Nash's golden rules. He says you have to think long range. Can this process benefit us today? Absolutely. Can this process help us enhance the things that we're already doing financially, today? 100%. But we have to get out of this instant gratification, instant coffee, instant messaging, instant wins, instant growth. We have to get out of this overnight millionaire idea. If that happens, great, congratulations. But the likelihood is not so we have to think long range. So think two or three generations ahead. 75 years into the future, I'm already thinking about my unborn grandkids. Nelson was trained as a forester early on in his career, so he actually learned how to think long range. I plant the seed today. We're not going to see any yield for 60 or 70 years into the future. Not so with the process of becoming your own banker. But the point is, we have to be thinking about older Verne. We have to be thinking about my children and their financing needs and the things that they're going to need and want to accomplish. And then how do we transfer that wealth in the family systematically over time While I maintain 100% of the control and we do it in a very tax efficient manner? Well, I have my policies on myself. I have policies on my wife, I have policies on my kids. And I'm building the system so that when my unborn grandkids show up, the larger my children's death benefits are the larger policies I can put on my unborn grandkids. And each time one of us passes, it's going to leave a windfall of capital that flows into the family. And I'm not just giving them a bunch of money so that they can do whatever they want or sit around and be lazy or squander it. I'm leaving them a system, a process to follow. They're going to know exactly what to do with that money when it shows up. They're going to backfill their policies, they're going to start new policies, and they're going to continue to expand the wealth into generations long after I'm gone and I sleep well at night knowing that that's what we're creating for our family. We're literally transforming the paradigm, the wealth within our family. Don't be afraid to capitalize. You know, look, like I said earlier, you can start wherever makes sense for you. Okay? But a lot of times I get this question, they go, vern, how Small of a policy. Can I start now? That might be. I get everyone's in a different financial situation. That might be because things are really tight. And that's fair, it makes sense. Hey, if you have to start the smallest policy possible, start the smallest policy possible. Just get started. But if you start the smallest policy possible, you're probably going to get the smallest result possible. All of your money is already flowing to and through someone else's bank. You're already paying the premium, you just don't realize it. So we need to carve out as much of your existing cash flow or as much as of your liquid savings that's available and transfer it systematically over time into your policy system. And don't be afraid to capitalize. The more I'm able to capitalize my system, the more of the banking function I'm going to be able to control. Do not steal the P's. If I'm accessing policy loans to achieve objectives, yes, I'm 100% in control of the repayment schedule. And the life insurance company knows that they're going to get their money back one way or another. It's the absolute safest investment a life insurance company can make, a policy loan. Because I'm either going to pay the money back with interest, I'm going to put my 2 cents back in the cash register, right? I'm going to put a little bit extra in than what I accessed and I'm going to be able to go back and re access 100% of it. So I really don't care how much interest I pay. It's just more capital that I can access again later and more money that the life insurance company can put to work to multiply for all of the participating policyholders. But I'm going to pay that money back and not steal the piece. Because again, if you borrow money from someone else's bank, you would be paying that back with interest on their terms. So we need to have that same discipline. The more capital we put back in our system, the more profitable our grocery store is going to become. Our bank. Don't do business with banks. Now, every single time you access money, borrow money from someone else's bank, you are likely unknowingly and unwillingly contributing to the inflation problem. You know, I'm not going to get into all the details, but we all know that the central banks, the bank of Canada, the way that the banking process works, I mean, you can just Google this, they use a system called fractional reserve banking. So they're actually multiplying the money supply by issuing loans, they're flooding the system with more dollars. Just like what's going on with all this government spending right now. That's going to be definitely a tax hike in the future. And that money's got to come from somewhere. So it's going to come from registered accounts. It's going to come from our children and grandchildren. We are leaving them an absolute mess. And we must transform this immediately. So not only do we have tax problem that's going to occur. That is occurring. We also have hyperinflation happening. Well, why is that happening? Well, we're pumping in a bunch more dollars for the same amount of goods, just like what happened, whatever it was, thousands of years ago in Rome, right when Julius Caesar started to put more metals into the gold and he started to multiply the money. And the smart vendors caught onto that. They said, wait a minute, what's going on here? They realized that something was wrong. And right now we have to make that same realization or we're going to wind up just like what happened to the Roman Empire. So we are unknowingly and unwillingly contributing to the inflation problem by doing business with banks. Don't do business with banks. Now, this is a fifth golden rule that Nelson added.

Down near. I'm not exactly sure when he added it, but this is. I'm glad he added this golden rule. He says, rethink your thinking. As I mentioned before, we are being introduced to new ideas. We're being introduced to a new way of thinking. So an old idea has to leave. We have to be able to learn, unlearn and relearn. So that's what your opportunity is here today, is to actually think about what's happening and rethink your thinking. Because if you feel like you've arrived at knowledge, if there's nothing else for you to learn, then you may as well just get off the call right now. But the likelihood is you're here on the call because you recognize that there is more that you can learn as it relates to money and banking and finances and wealth creation and all those good things. So rethink your thinking.