How To Become Your Own Banker Guide In Canada

Awesome. Okay, well, welcome everyone. Thank you so much for tuning in to the webinar on the process of becoming your own banker, the infinite banking concept. I'm incredibly excited to be here with all of you and really appreciate that you're spending this time with us. We know that you could be doing other things with your valuable time and we're just really happy that you're choosing to spend it with us. So thank you so much. And I do want to share with everybody that as we work through the information that I'm going to share in tonight's webinar, I'm going to be referencing R. Nelson Nash's book, Becoming youg Own Banker. And I've actually got a PDF version of the book that I'll be displaying on the screen and making reference to very specific content from the book because I know that you're just going to get incredible value from it. But before we begin and dive into the information, I just want to start by saying that to any of our attendees who are frontline responders, who are in healthcare, who are hard working moms and dads, who are taking care of, you know, kids at home and you know, really doing everything possible, possible to continue navigating their way through these strained times that we live in with COVID 19 just wanted to extend some heartfelt gratitude on behalf of my team and to all of you. We appreciate all of your hard work and the sacrifices that you make every single day. And we know we're going to get through this, it's just a matter of when. But we do appreciate everything that you do. So thank you so much. And let me go ahead and bring up. I'm going to share my screen here with everyone.

There we go. And maybe sorry if I can get you really quick here as well, just to go ahead and confirm that my screen share is coming through. Okay, that would be awesome. And now throughout the webinar, you're likely going to have some really good questions that come up for you. And questions are excellent. It's best to capture them in the chat window so that we can capture them for the benefit of everyone here who's in attendance. And please go ahead and type them as they come up for you because we are going to make every effort to allocate some time to Q and A as we get through all of this information. It's just going to be awesome. Now, in the beginning for me in discovering this process, I really didn't have any idea at the time just how large of an impact this gentleman R Nelson Nash was going to have on my life and by proxy, everyone that I'm honored to work with as clients and to serve. And to all of you who are here for the first time discovering this message, R. Nelson Nash, the developer, the pioneer, the founder of the process. Sadly, we lost Nelson last March. He passed away. But we were blessed beyond the definition of good fortune to be mentored by Nelson for so many years. And as a token of gratitude, a debt of gratitude that I can never really repay, I had a documentary film. The idea to commission this documentary film on R. Nelson Nash back in September of 2017. And the film was completed and Nelson had the opportunity to view the film prior to him passing away. And that film. Thank you to the Nelson Nash Institute and to Carlos and Bob and David, the board at the Nelson Nash Institute, Jason Rink, Richard Canfield, so many wonderful people that participated in this project. This film is available for you to view and there's no cost to view it. It's about a one hour documentary and it's available at nelsonnashfilm.com Again, that's nelsonnashfilm.com and this is just one of the resources that you would have received a link to in some of the correspondence leading up to the webinar. But for those of you who are just joining us, this is a great resource for you to tap into. Now, this particular book, Becoming youg Own Banker. This book is a must read to really get a good grasp of just how incredible Nelson was and the essence of this incredible process and the message that he's sharing with one reading of the book just won't do the job. Every single time I read the book, I learn something new. And Nelson, true to form, over the years, he would share that the more that you see this process, the more you'll see you didn't see. And he was absolutely correct. Now, this book has sold well over 400,000 copies and for a very good reason. There's going to be a link. I just want to preempt all of you who are with us here. There's going to be a link that is going to be sent to you either via email or via text. And that link is direct to our bookstore so that you can access your own copy of the book and add that to your library. We sell it for less than Amazon, we ship it anywhere in Canada, and we'll get that right to your front door and we're gonna have a lot of fun tonight. We're actually gonna be referencing this book, as I mentioned earlier, quite often now we're talking about really is the most important business in the world, and that's banking. And throughout this webinar, as you're again discovering this financial wisdom, you're going to recognize that obviously the process of banking is something that you're already very familiar with. It's a part of your everyday life. And you'll know that someone, some organization, has control over a pool of financial value that must and can flow at a cost to meet someone else's need. And so if you think about your own life right now, your personal financial life, maybe you're a business owner, your business financial life, presently all of the money that you're earning is flowing through the books of someone else's bank. And that is a problem because when you're purchasing goods and services or you're paying for business overhead, you're taking care of all of your financial needs. It always involves a permanent transfer of money away from you. Money comes into your bank account, so the bank sees it before you do. That in and of itself is a problem. And then when you're spending it, it's a permanent transfer of that money away. You can't earn interest on that money again. You can't save it again. You can't spend it again. And that loss is permanent, not only for you, but for every future generation that comes after you. Now, what I will share is that on the Ascendant Financial YouTube channel, there is a prerecorded version of an expanded webinar where I'm describing and going into even more depth in the process. And so I would recommend that at your convenience, if tonight, if you like what you see and you like what you hear, and you have a thirst for knowledge, this is just another resource that we want to offer to you at no cost. So let me go ahead and just toggle over now to Nelson's book. And we're going to start with the, you know, the notion of taking control of your financial world. So what does that look like? Well, let me just bring up Nelson's book here. We're going to toggle through right to page three. And the one thing that Nelson did such a great job at is describing what the whole idea behind the process of becoming your own banker is. And he begins by saying that the whole idea is to recapture the interest that a person is paying to banks, to finance companies, to credit card companies for all those major items that you need throughout your lifetime. And that includes automobiles. It includes major appliances, education, homes, investment opportunities, business equipment, et cetera. And Nelson, he did such a wonderful job teaching us that money has to flow and it has to reside somewhere. And so if you can create this system where you begin to take control of that banking function as it relates to your needs, you end up creating a very peaceful, stress free financial life. And again, I can't overemphasize, this particular book was written for you. It was not written for me or all of my wonderful colleagues in this profession. Nelson wrote the book for you because he wants you to understand that this is all about taking control of the banking function you're going to be seeing. And I'm going to walk you through a couple of illustrations today. But this is not about a product, this is all about a process and how you can take control of it. Now, going back here for a moment, the very first principle that we need to understand is that you finance everything that you buy. You either pay interest to someone else in order to access their pool of money, or you give up the interest that you could have earned otherwise, if you're accustomed to paying cash for things. So we meet people all the time and they say, you know what, we actually have no debt. And when we begin to probe a little bit further, we understand that that's in fact not the case. So I'll give you a recent example. I was speaking with a prospective client who had said, you know what, I'm completely debt free. And I asked the question, well, you own your home free and clear, right? Yep. You have to pay property tax. Absolutely. So you're not debt free. When you go to the grocery store and the cashier says, hey, this is what your cart or groceries is going to cost you today. It's impossible to owe nobody nothing unless you're homeless and destitute. And so the key teaching point here is that if you think about this solely as a method of financing something, then you're not quite getting the whole perspective on the concept. Because we're talking about becoming your own banker. What we're talking about is regardless of how you acquire things, whether it's paying cash, leasing, financing, whatever that may be, it all involves the use of money. And that money has to flow from one supply source to another in a relatively short time frame, otherwise no transaction happens. And so if you are continuing in your financial journey by doing what you've been doing, as your income flows into someone else's bank, it sits there waiting for you to pay your bills. You pay your bills, that money is permanently transferred away. This is where Nelson references that you're permanently giving up the Opportunity to earn interest because you paid using your own cash and you transferred that money over to someone else who you, you know, thinks they can do better with it than you can. Now, in recapturing the interest that you pay to banks and to finance companies for all the major items that you need, Nelson does a great job in the book of just expanding on that. If I just scroll through here real quickly, Bear with me for one moment.

There we go.

Just.

My PDF annotators just a little bit behind me here in terms of speed. So thank you for bearing with me here. One of the interesting concept is that most people have really no idea just how important the banking function is and how it relates to their needs, whether it's personally or professionally.

We hear financial entertainers all the time who are talking to people about, you should take a percentage of your income and you should set it aside and save it. You know, how many of you, just for folks who want to type in the chat window, let me know if you've heard at some point over the course of your lifetime that you should save, you know, a percentage of your income. So everything that you earn, you should save 10% of your income. And what nobody's talking to you about is what's happening with all the money that's permanently being transferred away from you. So if we're talking about saving 10% of our income, but we have 34 and a half cents of every dollar leaving our family in the way of interest, and we're permanently transferring money away from our family or our business, Nobody's talking to you about the lost opportunity cost. You know, when was the last time somebody sat down with you and said, based on all the money flowing through your family or your business, I need you to know what this lost opportunity cost is in the way of dollars. Because when we're utilizing money, if we borrow money to buy a house or we borrow money to buy a car, we can see what that interest expense is because we know what our repayment schedule looks like. We know that a portion of that payment is principal, a portion of that payment is interest. But when you're not taking into account or you're not reckoning with lost opportunity cost, you can't see that you don't know what that amount of money is and that it's leaving your family and that the transfer is permanent. And so Nelson wants you to know that there's only one pool of money in the world. The fact is that we have many different banks, many different institutions that are managing this pool of money. In many different countries and continents around the world. But that's really irrelevant to the fact that we've only got one pool of money, we've only got one banking system. And so the objective here is to secede from that and to take control of it as it relates to our needs. And so just in the chat window, I'm going to try and make this interactive as we kind of go through it here together. But I'd like for you to share with me, if you take a look at, or maybe just put some thought into all of the interest that you've paid to commercial banks or to finance companies up to this point in your lifetime. Maybe just share in the chat window for the benefit of everybody. Talk to me a little bit about how that makes you feel knowing that you had to go through a process of qualification to access someone else's capital. The money that you're leaving on deposit at someone else's bank is not sitting there waiting for you to pay the bills. That commercial bank must keep that money in motion so that the stockholders of the bank can achieve their expectation of profit. And so if you think about all of that flow of money up to this point in your lifetime, maybe just share with me just your candid view on how that makes you feel. And so I'll just read a few here, you might see it. So we've got people indicating, hey, this makes me frustrated, makes me angry.

And then a number of people have put in rates in terms of the rates that they've had to pay.

And so it's a very common, very common feedback for people who are exposed to this process. Now here's what we want to do. We want to talk about how do we solve that problem so we understand what the problem is. We have money that's flowing away from us. It's a permanent transfer. How do we solve that problem? If we take control of the process, then we can solve the problem by utilizing a very specific tool that will enable us to implement a process. So there's a very clear distinction here that I just want to make sure that I make clear is we have a product and we have a process. The process is banking and the product, the tool is participating dividend paying life insurance. And ideally we want that with a mutual life insurance company. Now in order for us to create this system, we have to put the tool in place. But it's so important for us to recognize that if we put the best tool for the job in the hands of someone who doesn't know how to use the tool, then not only is that person not going to turn out any good work with the tool, then they're likely going to end up breaking the tool. And so that's why it's so important that if at any time during this webinar you find yourself thinking, this is really appealing to me, it's something that I really want to look at implementing in my life, then what you'll be invited to do is to schedule a discovery call. It's a 15 minute call. It's just initially to determine if we can establish a basis to add some value to what you're already doing financially and if this process is a good fit and if we're a good fit, and that's part of your webinar attendance here today, it's all included. So it doesn't cost anything to do that. So if you find yourself thinking, hey, this is something I want to explore further, then scheduling that call is going to be your next step. But if not, as long as you leave the webinar happy, that's okay too. So let's talk about creating the system. What we need to do is we need to take money and we need to put that money into a policy or a system of policies, ideally with a mutual life insurance company. Now, the amount of money that we put in to our system is it has to really match two criteria. It has to be very comfortable, it has to be affordable so that it's not creating any stress or any pressure, and that you're beginning to build that premise of, okay, I know that my money must reside somewhere, so I'm going to put premium into these policies. They're contractually guaranteed to accumulate what's called cash value. So we have this ever growing pool of financial value. It grows on a daily basis, contractually guaranteed. It cannot be repossessed or lose value. There's no pandemic or economic environment or government intervention or stock market manipulation that can take any of that accumulating value away. And if you envision for a moment we've got this cash value piling up inside of our policy or inside of our system of policies, we also have a death benefit thrown in for good measure. So that God forbid, if something happens to you, that there's a tax free windfall of money that shows up for your family exactly, precisely when it's needed the most. And as this pool of financial value is accumulating, you have the ability to access what's called a policy loan or a series of loans from the life insurance company without interrupting any of the daily cash value growth inside of your insurance policy. So let me share with you just an example of recapturing interest and using my own personal example. Now, some of you on the webinar tonight are existing clients. And you know, you've heard me share this example before. Back In April of 2008, you could still get 40 year amortizations on mortgages. And so my wife Rebecca and I, when we moved into our principal residence at that time, we thought, wow, this is fantastic. We've got a 40 year mortgage, it's great rate, it's a very affordable payment. This makes perfect sense. And we just didn't know what we didn't know at that time. We were sending an extra $200 a month thinking that we're getting ahead financially. But what we didn't realize is that we were just essentially telling the bank, hey, you don't need to go find another borrower. We're going to send you some additional money every month that you're not even calling for. When we were introduced to this process of becoming your own banker in July of 2008 and then began to implement it in our lives, we began putting premium into policies. We wanted to put in as much premium as we could so that we could accumulate as much cash value as rapidly as possible. We began accessing policy loans from the insurance company without interrupting one penny of our cash value accumulation, our total financial value. This pool of money is still growing on a daily basis, uninterrupted. When we access the policy loan from the insurance company, they only asked us two questions. Would you like us to electronically deposit the money into your account or mail you a check? The moment that the loan was issued, they placed a lien on the death benefit for the loan balance. And so we're taking these lump sums of money from the insurance companies. We're not using Jason and Rebecca's money, we're using the insurance company's money and we're applying that directly toward the principal balance of the mortgage. Now, we repeated that process a number of times and it took us seven years to get rid of the commercial bank. And I was super excited. I said, wow, this is fantastic. You know, this is amazing. I've gotten rid of the commercial bank. And Nelson Nash was the first person I called and I said, Nelson, I'm super excited. I want to share this amazing news with you. We've, we've gotten rid of the commercial bank. We took a 40 year mortgage and we got rid of the bank 33 years ahead of schedule. And he said, jason, don't celebrate too much yet. You have to be an honest banker, so you need to finish the original loan schedule because what you've done is taken over the banking function. So now you've gotta be an honest banker and you've gotta finish that loan schedule. And so the amount of money that we were otherwise obligated to continue sending to the commercial bank, we're sending that back to our own system of policies every single month. Now I'll just ask all of you, please type into the chat window if I had not done that, if I had said, hey look, you know what, the commercial bank's out of the equation. I still have a policy loan balance, but I'm not going to repay that. I'm just going to take the money that I was otherwise sending to the bank every month and I'm just going to go spend it.

Let me know if you think that would have been a smart thing to do or a stupid thing to do.

Bad idea. You got it, Kristen. Thank you. Thank you, James. Stupid idea. You bet. Now here's the human condition that I had to overcome. So Nelson talks about this in becoming your own banker. He talks about the human condition of Parkinson's law, where your one interpretation is that your expenses rise to equal your income. But for many Canadians, expenses rise to exceed income. And so at that moment when I called Nelson, he taught me a very, very valuable lesson. He said, Jason, listen, you need to complete the loan schedule, but you're changing the process of who's getting the money and who that money is being put to work for. And that changed everything in terms of my understanding of this process. And so fast forward to today and we have, as of today, we now have 49 policies in our family banking system. We recapture all of our personal financial overhead, we recapture all of our business or corporate overhead. We live a very peaceful, stress free financial life. And I sleep very easy at night knowing that God forbid when something happens when I'm no longer here, that my family is not only going to be replenished with everything that we've ever spent, but my wife, my beautiful wife Rebecca is not going to have a bad financial day for the rest of her lifetime. And she won't have to rely on our children for financial support either. And she'll never end up in a long term care facility that's under maintained or poorly looked after. Our family is going to be okay. And so I'm here to tell you that if we could achieve that, you can do it too. But you have to have a good coach. You need to work with somebody who understands the implementation process and who truly practices this in their own life. And the best qualification in terms of someone to work with is an authorized Infinite Banking practitioner with the Nelson Nash Institute. And all of our teammates here at Ascendant are all authorized with the Nelson Nash Institute. Every single one of our team members in our organization practices this process in their own lives, with the exception of one one of our newer teammates who's just getting started. And so we practice what we teach and we truly believe that we're exceptional at what we do. And this is what we do. We specialize in this implementation. I hope that you found that particular example helpful in just understanding what the possibilities are. Now, people ask a lot of questions like, well, how much premium did you put into your policy and how many policies did you have and how often did you access policy loans? And those are all tactical things that are important, they're important to understand. But you can't learn how to swim unless you get in the pool. And so if you need, like we do, the use of money for the rest of your lifetime and you understand that that money must flow and that you can take control of the distribution function, you can take control of the banking function, then you can do this and you can implement it, whether it's in your personal life or your business life or both, just like we do. We have policies that are corporately owned, we have policies that are personally owned. And they all serve a purpose which is to help to achieve very defined financial objectives. Now, another quick example that I wanted to share too is so I take advantage of opportunities that come my way. And one thing that Nelson used to share with me is he'd say, Jason, when you have ready access capital, this growing pool of financial value, opportunity will track you down. And he couldn't have been any more correct. One of my most recent engagements has been in the Amazon resale business where, which is doing extremely well, as everybody knows. And we were able to take advantage of a wonderful opportunity and we utilized policy loans to be able to do that. And we have more capital coming back to our family and we get to re access everything that we put back into our system. And so when you implement this process in your life, you're going to again quickly recognize that opportunity will track you down as this pool of financial value grows for you. It's going to be incredible. And the journey is so much fun, especially when you are working with a good coach and you know that this coach is proficient and that they actually practice this process in their own life. It is obviously incredibly important. So one of the things that I want to do is for all of our webinar attendees who are.

Numbers focused. So if you like numbers, I'm going to get into something here. We'll get into the weeds with you here and have a little bit of fun. Okay, does that sound good? Can I get some. Can I get some yeses in the chat window? Let me know if that works for everybody.

All right. Okay, let's have some fun. Let me share my screen here again.

Okay, now here's what I want to do. This is going to be great. So in Nelson's book, he talks about. He refers to the twin sister example. Now, the reason he references this as twin sisters is because he wanted to basically compare. If somebody says, well, you know what? I can go ahead. I can achieve the very same result if I just put money into a guaranteed investment certificate, and I pile up money and I use that guaranteed investment certificate as collateral. I borrow money from the commercial bank. You know what? I'm confident I can achieve the very same outcome. So Nelson says, okay, well, why don't we put that theory to the test and let's see what happens? And so before we really dive into these numbers, I just want to preempt you and say we need to understand something fundamentally important. Nelson referred to it as the characters in the play. The characters in the financial play, we have the depositor, the borrower, the banker, and the bank owner. And so if you can become all four characters in the financial play, not only are you going to accumulate wealth, but. But you're also going to keep that wealth in the family, not only for your generation, but for generations thereafter. Most people that we connect with for the first time, they are only two of the four characters in the financial play. They're the depositor and the borrower, but they're not the banker or the bank owner. And so let's go through this exercise together, and let's see who comes out ahead. So let me just start with this. The twin sisters are sitting down to lunch together, and one of the twin sisters says to the other, now this is the one who put money into a guaranteed investment certificate. And the twin sister says to the other, hey, you know What? I put 5,000 bucks into a guaranteed investment certificate. And I'm super excited about that because I know that it's guaranteed. I know it's going to earn some interest, and it's a great way for me to save some money and the infinite banking twin sister said, well, you know what, I was sitting down and talking to this guy named Jason, and he told me that I should learn about this process of becoming your own banker, the infinite banking concept. And I did that, and I decided that I was going to put 5,000 into a policy. And the GIC took Twin says, okay, that's interesting. Why don't we get together for lunch a year from now and let's see how each of us are doing. And so the twins agreed to do that. And a year later they got together and they sat down. And the guaranteed investment certificate twin said, here, I'm going to try my hand at drawing here. The guaranteed investment certificate twin said, hey, Look, I got 5200 bucks in my GIC. Isn't that good? And the IBC twin sister says, yeah, absolutely, that's good. Congratulations. And the GIC twin asked, how much do you have inside of your policy in cash value? And that twin said, well, I've only got 1,933 bucks. And so the GIC twin immediately says, you know what? I think you're foolish for doing what Jason taught you to do. Look at all the money I have in my GIC compared to what you have in your policy. Jason must be clinically insane for recommending that you store your money inside of an insurance policy versus leaving it inside the bank. But the IBC twin knew something that the GIC twin didn't. The IBC twin knew that every single day, no matter what, this policy had to get more efficient, it had to grow more capital, and that when they eventually need access to money, that the infinite banking twin knew something that the GIC twin didn't. So let's fast forward through this and let me expand on what I'm sharing. Take a look at up to year seven. Can somebody type into the chat window and let me know how much did each twin put into their respective product? So the GIC twin, the IVC twin, how much did they put in? Okay, awesome. 35,000 bucks. You got it. So bear with me as I'm drawing here.

So, $35,000. So can we agree we have the same amount of money that has gone into the guaranteed investment certificate? We have the same amount of money that's gone into the policy. And if we take a look at the total amount, the balance of the guaranteed investment Certificate at year seven, you can see that it's $41,071. And the Infinite Banking Twin only has $35,960 in cash value inside of the policy. Well, each twin decided that they were going to go and buy a car. And we're not using policy loans in this example. We're going to utilize withdrawals and we're going to pay money back into each product. So the GIC twin is going to put money back into the gic and the infinite banking twin is going to pay premium in the policy. And so let's see what the net effect of that is.

A car got purchased in year eight. $10,550. The GIC Twin withdrew $10,550 from the GIC to go buy the car and repaid 3,030. Every single year the infinite banking twin withdrew money utilizing surrenders of dividends to take the money out to go and buy the car. And so we're working again with the same amount of money coming out and the same amount of money going back in. The objective of purchasing the car was the same for both twins. Now take a look at what happened. Let's see where we are at.

The crossover point here. Let's scroll through. Let's go all the way down. We're purchasing vehicles, we're making repayments, purchasing vehicles, making repayments. And now we get to retirement time, passive income time, as R. Nelson Nash would say. Now how much money does the GIC twin have.

And how much money does the infinite banking twin sister have? Can somebody tell me in the chat window what the difference is between those two numbers?

If we just do some quick math.

Okay, so we've got. Yeah, about 700,000. Well let's, let's just calculate that together. So we've got 964,638 of cash value inside of the infinite banking twins policy.

And we have 258,927 that's piled up in the guaranteed investment certificate. So a $705,000 difference.

Now here's the key.

When you have a policy.

You become a co owner of the insurance company. And so you participate in the divisible surplus, the profit generated by the insurance company from every product that the insurance company sells in the marketplace. So you become a co owner of the business. And when dividends are declared, those dividends are distributed to the owners of the business. Now let's contrast that with the guaranteed investment certificate twin.

So let's take a look at what characters in the financial play the GIC twin was. Was the GIC twin the depositor? Absolutely. Was the GIC twin the borrower? Absolutely. Because, and again, we're not talking about policy Loans. And we're not talking about loans from the bank.

We have to understand in this specific example, we're not bringing loans into the equation. But the reason that each twin is a borrower is because you're always working with borrowed money, even when you pay cash for things. So the IBC twin was the depositor and the borrower. The IBC twin was also the banker and the bank owner. And so when you become all four characters in the financial play, like I said earlier, not only do you accumulate wealth, but you also keep that wealth in the family. Now, one of the things that is such an amazing advantage here in Canada is that the insurance company contractually guarantees that the total cash value of the policy must match the total death benefit by age 100 of the life that is insured. And so every single day that the life insured is aging, the cash value in the policy is rising, contractually guaranteed. And so when we look at the different factors. So, for example, Michael had a great question. He said, what formula or rate is driving the growth in each of the two examples? In the guaranteed investment certificate example, we're basing it on that GIC earning 5.5%, which would be about 4% after tax. And we know that that's not happening in today's interest rate environment. The policy, the growth is based on the contractual guarantee of the total cash value matching the total death benefit by age 100. And so it's an actuarially engineered outcome. Now, here's what's interesting. If we dive a little bit deeper into what. What's happening inside this example.

Both twins require retirement income. So when does the GIC Twin run out of money?

57 years into this process.

However, we're only. How many? We got 1, 2, 3. We're six years into passive income time. The GIC twin is all out of money. The infinite banking twin.

Cannot run out of money, because what is the cash value of that policy contractually guaranteed to do every single day? It must go up. And so when we contrast.

How much did we put in? How much are we getting out? Let's start with first and foremost, we put 35,000 in, and then we put in 3,030 every single year, all the way to the 51st year. So we put in 168,320. We withdrew prior to retirement. We withdrew $116,050. And so the net, the difference there is 52,000, 270. So I just took this number and subtracted this number. What did I put in? What Did I take out? Now, if we look at it from the vantage point again of all four characters in the financial play, who did better.

The IBC twin or the GIC twin? We worked with the very same amount of money, but what we changed is who got the money and where it resided.

The GIC twin utilized the commercial banking system. The infinite banking twin utilized the life insurance company. Same amount of capital, just a different warehouse. Clearly, the IBC twin. Thank you, Kristin. You're absolutely correct. Now, in both cases.

If we look at this, the difference here.

For the GIC twin, so the difference in these two numbers, that's 705,000. That's the amount that went to the stockholders of the bank versus the IBC twin, who was all four characters in the play. And so a person could either do this by practicing becoming your own banker, or they could do this using the commercial banking system. And you can see that clearly taking control of the banking function is going to create a significant advantage. Not to mention when death occurs and death will occur. Everyone on tonight's webinar has a best before date. We don't know what that best before date is, but death will come. And when that day comes, in this case with the GIC twin, there's nothing left behind versus the IBC twin, who left behind 1,365,000 and paid not a single penny of tax. And so where else on planet earth can you buy or sell anything where you put 168,320 in you access 650,000 in retirement, you leave behind 1.365 million, and you don't share a penny of that gain with revenue Canada. If there's any other method of achieving that very same outcome, would you be kind enough to share it with me? Because I'll tell you, over the past.

Several years that I've been practicing this process in my own life. I have yet to come across a better tool to implement this process. And so.

Let me do this here. Just stop my screen share for a moment. Now, one of the most. And again, this comes up for us often, as you can imagine, one of the most common questions that we receive is, hey, Jason, will you take a look at my financial situation? Will you show me how to become my own banker? Well, the obvious answer is yes. And we have a becoming your own banker meeting that's designed just for that purpose. But what you're going to be invited to do on the webinar is you're going to receive basically an invitation to schedule that first discovery call and if we think that we can improve what you're already doing financially, and I can assure you the process of becoming your own banker radically improves anything that you're already doing financially, then following that discovery call, one of my amazing teammates is going to match you up with the best advisor based on who you know, our team member thinks is going to be best suited to work with you. And I'll just share with you if you haven't had the opportunity yet, if you have occasion to visit our website, I would just share with you that at ascendantfinancial CA.

One of the. One of the great components of this website is that we have all of our teammates listed here. And I just want to share with all of you that all of these people that you're seeing are nothing short of amazing. And the one thing that we do, among many great things here in our organization, is that we have an amazing client services team that takes care of the application process, making sure that that's followed right through. From application to getting the policy put into place and settled. We have an amazing administrative support team and operations group that do incredible work. Our advisory team is, bar none, the very best at coaching and mentoring clients through the implementation of this process. And when you visit our team page, if you just, if you click through to anyone on our team, I'll just pick on myself here as an example.

It just brings up a little bit about why we love doing what we do. And it describes to you who we're really like, because, you know, who we really are is important for you to know. And so if you have occasion just to spend time going through our website, I think that you'll get an abundance of value. You can see here as well that we have links to our podcast, our Wealth Without Bay Street Podcast, which is amazing. Just a wide variety of episodes and guest speakers that you'll get. Again, incredible value from. We've shared our vision as an organization, so I've shared that vision in its original format, word for word, for the world to see. And so if you want to get a better sense of who we are, what we believe in, and where we're headed as an organization, I would just encourage you to take a moment, spend a little time on our website. You'll be glad you did. And when you get that link to create your call, it's gonna be ridiculously simple. You can select a date and time that's convenient for you, and we'd love to have that discovery call with you. It's gonna be just awesome. Now One of the things that Nelson goes on to describe in his book is he talks about expanding your system to accommodate all of your income through a system of banks, to increase your personal wealth. Now what he means is that he's not describing just one policy in the implementation of becoming your own banker, he's describing a system of policies. Now that system is what is accumulated and built over a period of many years. So if you look back to my own example, we have at this point, obviously a large number of policies in our family banking system. But we didn't start there. We started with one policy and we expanded our system and grew it over a period of many years. And what I'd like to share with you now is I want to go through another example where you can utilize this concept in your business, you know, for overhead, for things like equipment financing. And Nelson has a great example in his book that's aptly named the equipment financing example. And I just want to take you there, share it with you. So let's go through to page 51. There we go. So on page 51, all the way through the better part of the remainder of the book, Nelson's describing this equipment financing example. And I want to get to the crux of it. So basically in this example, Nelson wanted to share one of the key teaching points, that the policy owner's behavior is far more critical than the behavior of the insurance company. And he goes on to describe it by saying, okay, we have basically a policy owner who is putting premium into a policy and wants to utilize this policy in their logging business. And so if you know that in the logging business you need equipment, you need logging trucks, you need traffic tree shears, you need all kinds of equipment to operate the business. Now what this business owner was doing is they were financing these logging trucks and all this equipment through someone else's bank. And what Nelson described is he said, listen, you can take control of this function. And I want to show you how your behavior is far more critical than the behavior of the insurance company. So let's take a look at what he meant by that. What we're going to do is we're going to take a look at a policy that's going to be utilized for this purpose. But before we start utilizing policy loans, I want to show you what it looks like if the insurance company just administers this contract, this insurance policy, all on their own. Now again, let's recap the tool. The tool is a properly designed dividend paying, participating whole life policy, or ideally a system of policies With a mutual life company.

The policy owner determines the premium that they want to start depositing into the policy. The policy is a unilateral, binding contract. So what that means is that the insurance company itself is assuming 100% of the risk to fulfill some very specific contractual guarantees that include the cash value must match the total death benefit by age 100. The total death benefit of the policy is designed to grow every year, but the premium does not grow. The premium can go down, but it cannot go up. And so we put the policy owner in a position of total control by being able to access policy loans. And when you access a policy loan, you access it and then you get to repay that policy loan on your terms. And the insurance company itself cannot dictate the repayment schedule of a policy loan. And the reason the insurance company does not require a repayment schedule is because the insurance company itself is guaranteeing the collateral for the loan. So they don't require a repayment schedule. They know that the policy owner is either going to repay the loan while he or she is alive, or the death benefit is going to extinguish the loan balance when the life insured passes away. And we know that that is an eventuality. Now, in this particular example, we have a policy where we have a total of $40,000 of premium that's going to be deposited into the policy for a period of four years. Of that $14,999, I'll call it $15,000 for good measure, is the minimum premium required. And the remaining 25,000 is a deposit option. So the policy owner has the privilege to put in the additional 25,000, but is not contractually obligated to do so. That creates flexibility. So again, it's important to make sure that you're working with someone who knows how to design a policy properly to implement this process. Now, if we fast forward to the end of year four, we've put in 160,000, and our total cash value is 157,363. So we've just about neutralized.

The cost of acquisition of this policy. Now, here's what's interesting. If we just let the insurance company administer this policy. So we're not going to access any policy loans. We're not going to. Oh, forgive me there. Sorry about that. This jumped a little bit ahead on me here. Sorry about that, folks. And so if you just imagine for a second that.

Here, let me zoom out. That'll make it a lot clearer.

Zoom out a little more. And maybe one More.

There we go. So let me go back to that illustration here for your benefit. So if you think about this for a moment, if we just let the insurance company administer this policy all on their own, we're not going to access any policy loans. We're just going to let the cash value grow on a daily basis, contractually guaranteed. We're going to take the dividends, chunk them right back into the policy to purchase more fully paid up death benefit at no additional cost. Let's fast Forward to age 65, and at age 65, we have 1 million 517 million in total cash value accumulation and we have a total death benefit of 2,406,000. Now, what Nelson's showing is that the policy owner is going to begin accessing 92,000 a year from this policy all the way through to age 84 when the life insured passed away. Now, if we do some quick back of the envelope math.

We know that this 92,000 over that period of time adds up to 1,748,000. Now just ask yourself for a moment, how much money did the policy owner put into the policy as premium 160,000.

The insurance company contractually guarantees cash value growth when dividends are declared. Insurance companies declare dividends one time annually. And when those dividends are declared, they're contractually guaranteed to be paid and they cannot lose value. Regardless of what's happening in the stock market, regardless of what's happening in the economy, regardless of what's happening with a viral pandemic, the contractual guarantee is being fulfilled day after day after day, year after year, decade after decade. Now, I'm presuming that in this particular policy there were a number of recessions, a number of stock market volatility episodes over the years. But this policy is creating a preferred stream of retirement income. And when the policy, when the life insured passes away, you can see here, the life insured is leaving behind.

Practically the entire death benefit that he had at age 65. And he utilized this contract to take care of his retirement income. He wasn't concerned with what the tax rates were, he wasn't concerned with what was going on in the stock market. He didn't have to lay awake at night wondering, what's my mutual fund account value? Are my RRSPs going to carry me through? Is my RIF going to carry me through? And he triggered no taxable event upon his passing. And so Nelson said, okay, the insurance company did a pretty good job administering this contract all on their own. But if we want to Prove the point that the policy owner's behavior is far more critical than the behavior of the insurance company. The owner of this policy said, well, listen, can I run a logging truck through this policy? And Nelson said, of course, absolutely. So let's see what the net effect of doing that is when we go through and take a look at the impact of loans. Let's start to observe what's happening here. So in the fifth year, the policy owner decides to take out a policy loan. And in this example, the policy owner took out a loan for $52,600 from the Life insurance company. So someone remind me again, in the chat window, when the policy owner initiated that policy loan, was any of the cash value of the policy interrupted? Did any cash value.

Get removed or taken away from the policy owner?

You got it. The answer is no. The total cash value continues growing uninterrupted every single day. Now, what do you think is happening to the value of the logging truck every single day? Is it going up or going down? Of course it's going down. And so what Nelson's showing you here in this example is he's saying the owner of the policy took out a loan for 52,600 and is repaying 18,000 per year. So you can see this is shorthand in the first line that you see here of 52,600 coming out and 18,000 going back in. Now, this 18,000, what amount do you think that represents? That represents the amount that the policy owner would have otherwise continued paying to some outside finance company to achieve the same objective. So now the policy owner is truly taking control of the banking function. The policy owner is not changing their cash flow. So the money that was otherwise permanently being transferred away is now coming back, and the policy owner gets to re access everything that they put back in. So what do you think happened when they needed the next truck, the next logging truck? Well, they had more than enough financial value, this pool of financial value, and they could easily access another policy loan to go and buy the next logging truck. So I'm going to ask you in the chat window, tell me who's in a position of total and absolute control as it relates to what I'm describing here.

You got it. The policy owner. Thank you, James. Thank you, Sarblo. Thank you, Tom. The policy owner is in a position of total and absolute control here, because if cash flow was impacted in the business and the policy owner could not put 18,000 back in every year, the insurance company is not going to call that policy owner and say hey, why are you not sending money back? The insurance company does not require a repayment schedule because the lien is on the death benefit for the loan balance, the cash value is collateral for the loan. So if he would have approached the insurance company and said, hey, I know that I've got 157,000 of total cash value in this policy, can I take out a policy loan for $2 million? Well, the insurance company is going to say no, because all that you can pledge as collateral is 157,000. So when this policy owner asked for 52,600, the insurance company said, of course, would you like us to electronically deposit the money or mail you a check? Now, if you're a business owner, and even personally, for that matter, have you ever had that ready access to capital without any qualifying, no income verification, no credit check, no lengthy nosy credit applications to fill out, nobody to justify why you need the money, nobody to dictate a repayment schedule. You're the one that's in a position of control. And if the life insured died at any point along the way, no indebtedness is left behind to the business. And the business owns the asset that the money was used to buy. And so this puts you in a position of total and absolute control. Now, if we repeat this process where we're financing a new logging truck, so you can see that happening once every few years, there's a new logging truck being purchased. We're isolating the policy loan activity here. Let's fast forward now to age 65 and let's see what the net effect of the policy owner's behavior was. So remember in the previous illustration, with no policy loans, we had.

1.517 million in cash value. How much cash value do we have now that we took control of the banking function as it related to this business owner's needs? Well, we have 1.988 million, and we have a death benefit that's at 3.158 million. We're now accessing 125,000 every year versus 92,000. And at death, we're leaving behind 3.119 million versus leaving behind 2.4 million.

It begs the question, if you think about, and I've got a bunch of notes in my own book that I've scribed here from Nelson teaching me so many great things over.

Look at it from this vantage point, how much premium did he put into the policy for the first four years? He put $160,000 in. So his net capital outlay was 160,000 at year four. If we take a look at the net capital outlay at age 65, it's 315,000. And so the difference between those two numbers, that's how much money he made just by shopping at home, and the difference between this cash value accumulation is how much money he made just by shopping at home isn't that good? And if you can do that for logging trucks, can you do that for anything else that you would otherwise lease, pay cash for, or finance? The answer is yes, you can utilize this process for anything that you would otherwise lease, pay cash for, or finance. The difference is, is that if you're doing this and everyone else in your peer group is not doing this, you're going to come out far ahead than anyone in your peer group, because your peer group are only two of the four characters in the financial play. They're the depositor and the borrower, but they're not the banker or the bank owner. In this case, yet again, the owner of this contract is all four characters in the financial plate. And once you get that financial character, understanding everything in your financial world changes. It just changes. And so for the better, because I'll tell you, during this COVID 19 pandemic, not one client of mine, not one has contacted me to say, I'm really frustrated that my cash values continue growing every day. It's really bothering me to the contrary, clients are calling and saying, I wish I could reach through this computer right now and wrap you in a bear hug. Because we had ready access money when we needed it the most. And we know that through this pandemic, we're not interrupting the growth of any of our own cash value. It just keeps going up every single day. Isn't that good? Now, the owner of the policy asked a logical question. If I can run one logging truck through the policy, can I run two through the policy? Well, Nelson took a look at the values and said, you sure can. So now we get into illustration number three, where we start showing two logging trucks going through the policy. So again, we can see here after the fourth year, we now have two logging trucks going through, and we're putting 36,000 back into the policy each year. And we repeat that once every few years. You can see that we're repeating that cycle over and over and over again. And now we fast forward down to age 65, and now we've got 2.459 million in cash value and 3.9 million in death benefit. We're accessing 150,000 a year versus 125,000. And at death, we're leaving behind 3.992 million versus the 2.4 million in the original example. And so the policy owner asks the question, which is perfectly logical. If I can run three logging trucks through, can I run through four logging trucks and a tree shear? The answer, of course, is yes. And so you can see where we're going with this. The net effect is substantial. So if we look at that final illustration, we can see that.

Gosh, let's go through to all the way to illustration number five. Go all the way to the bottom. Here we can see that the difference of the policy owner's behavior.

Versus the insurance company handling it all on their own, that difference worked out to 1.517 of cash value in the original example with no loans. So no practicing the process versus 3.518 million when we introduced the process. We're using the tool, the policy.

And it's the best tool for the job.

We're using it properly and practicing a process. And so Nelson was correct. The policy owner's behavior is far more critical than the behavior of the insurance company. He made 2 million bucks tax free shopping at home. And so again, if you can do this for logging trucks, I'd love to hear from you in the chat window. Is there anything that you can't do this for? Let me know your thoughts on that. Is there anything that you believe this can't be done for?

And I'll tell you, the reason I share this is because one thing that we run into when people are looking at this process is they get. They're either speaking to somebody who's maybe not practicing the process but very familiar with the product, and they get into a comparison. How does this compare to my rrsp? How does this compare to my mutual funds? How does this compare to my stock portfolio? How does this compare to my real estate portfolio?

The process of becoming your own banker is not about addressing the yield of an investment. It's all about how you finance the things that you need in your life, which can certainly include investments. But it's not an either or. It's not, I should practice becoming your own banker or I should put my money into the stock market. I should practice becoming your own banker or I should expand my real estate portfolio. It's an as well as, because anything that you're already doing financially will be radically improved by introducing this process. Now, we didn't talk about putting a premium into the policy and then having the ability to control 100% of the banking function overnight, did we? You're not going to plant a seed and then dig up the seed every day to make sure that it's growing. It takes time to capitalize your system. So you have to be patient with this process. You knowing that you're going to need the use of money for the rest of your lifetime and that your money must reside somewhere. What better place to have it reside than here?

And that's a question that I ask on a daily basis to people that I talk to. What better place is there to have capital reside than here? The insurance company cannot inflate the money supply. When you borrow money from a commercial bank, you're contributing to inflation because the bank is creating money where no money existed before.

And so if we have the ability to store our capital inside of a business that has never failed to produce profit, these life insurance companies have weathered and thrived through the Spanish flu, the Great Depression, 30 recessions, that's 3. 0. 30 recessions, SARS, H1N1 Wuhan, to name a few. The tech bubble burst, the financial crisis of 08 09. And yet these life insurance carriers continue to thrive.

It's not a coincidence. It's an engineered outcome. And when you have an opportunity to meet with one of our amazing practitioners on our team, the one thing that they're going to do such an exceptional job at is work with you on understanding how you're structured financially right now.

And where your money is accumulating and residing right now, all of the characteristics of where that money is residing, defining some very clear financial objectives with you, and determining how this process can radically improve what you're already doing financially. And then once you're in implementation mode, the great thing that all of our practitioners do is in the coaching and in mentoring, you'd be meeting with your advisor once every six months, working through achieving those financial objectives that you've defined. And we're with you every step of the way. And so.

I hope it was helpful to see that equipment financing now when you get your own copy of Nelson's book. And again, if you found yourself at any point through this webinar thinking, oh, my goodness, I want to know how this can work for me, for my business. And you know, this is great. I'd love to take a deeper dive into it. Then make sure you book that discovery call, make that decision, take action, create the call. But you would have already received a link to get your own copy of Becoming youg Own Banker. And I would wholeheartedly encourage you to add this to your library. You'll be glad you did. It's a 92 page read. Takes a little less than an afternoon to get through. But if you thought what I've already shared is good, you're in for a real treat because Nelson does such a wonderful job just expanding on the process. Okay, so let me do this. I'm just going to toggle back here for a second. I want to point to just some additional resources. We're all about providing value. And so I want to share with you some additional resources that are available to you. I've already pointed out our website and if I may just on our website, if you click on the books tab, we have, in addition to Nelson's book, we have a variety of reading material available on this subject. And so that's another value added resource for you if you prefer to learn audibly. So people, some people prefer to read, some people prefer to watch, other people prefer to listen. Then again, tune into the Wealth Without Bay street podcast. If you like YouTube, when you hit the YouTube channel, you can visit the Ascendant Financial YouTube channel, the Wealth Without Bay Street YouTube channel. So again, these are just great resources that are available to you. Now. One thing that I want to do is I want to do a bit of a deep dive into the R word, the retirement word, because that comes up and I have to give credit to actually one of our contacts who had he read Nelson's book, he watched all the YouTube videos, he listened to all the podcasts, he just literally binged all the content. And when I met with him, he said, you know what, Jason? One of my objectives is to utilize this process to create a guaranteed stream of retirement income. And I said, well, that's a very good objective to have. And he said, you know, in the way that I've thought about this, everything that I've learned up to this point, I've kind of compartmentalized it into four phases. So I give full credit to him for sharing this. And he said, you know, the four phases for me are capitalization, which is putting money in to your policy or your system of policies, the loan phase, the retirement phase, and, and then death. And I said, that is such a ridiculously simple.

View of this process. And he said, yeah, this is the way I think about it. So I want to share with you again the fundamental truth that your money must reside somewhere. So if you think about it, where your money's residing right now, every financial tool, okay, every financial product just is. It's not that the tool or the product is good, bad or otherwise. It's, it has its own set of characteristics in terms of volatility, tax consequences, liquidity, risk, guarantees, control, hidden fees or penalties, or all the above. So your money is residing somewhere right now.

If you're storing your capital inside of the insurance company because you've purchased a contract, a dividend paying, participating whole life contract or a system of contracts, you have no volatility. It's tax advantaged. Significantly tax advantaged, especially for business owners. It's liquid. It has contractually guaranteed growth. Now I say that again, we don't use the word guaranteed lightly in our profession. It's contractually guaranteed growth. You're in a position of total and absolute control. There's no hidden fees, there's no penalties. So what better place to have money reside than here? It's a logical question, but let's actually look at this example that this gentleman was talking about, say, okay, let's look at this as a preferred retirement solution. Well, in this case we're going to talk about nausea. Nasia is a 45 year old female and family woman and a career professional. And her objective was to have 39,000 of net annual retirement income from age 65 to age 90. That's a very clear financial objective. So she deposits $30,000 into her dividend paying par life policy for 10 years. So she deposits from age 45 to age 55. So she put $300,000 into the policy.

And then from age 65 to age 90 she accesses $39,827 per year tax free. Tax rates could go up to 80%. Doesn't matter to Nasia. That is having no effect on her. She gets $1,035,502 out of the policy, she passes away at age 91 and leaves behind 586,682 to her beneficiaries, income tax free. Now some logical questions to ask. How much did Nacia put into the policy? $300,000. How much did Nacia get out while she was still alive? 1,035,000. How much did she leave behind income tax free? 586,000. So she fully replenished back to the family everything plus more than she ever put in when she passed away. And she spent more than two times, more than three times, almost four times the amount that she put in while she's still alive. Ask yourself this question.

Is it easier to save 300,000 inside of a policy or is it easier to accumulate 1,035,000 inside of a mutual fund or an RRSP.

Something to think about. And everything begins with the way that we think. So again, this is something to think about.

Now we transition over to Dylan, who's 45. He's a corporate owner. We work with quite a few varieties of business owners who are established. We work with all folks in medical professions who have professional service corporations, doctors, dentists, anesthesiologists, to name a few. We work with established business owners who are in a wide variety of industries. And they always ask the question, can my corporation purchase a policy? If I want to create a preferred retirement solution and I want to use my corporate dollars to put into the policy. And the answer is absolutely yes. So what Dylan defined is that he wanted to have 41,000 of net annual retirement income from age 65 to age 90. The corporation deposits 50,000 a year into a corporately owned dividend paying life policy for 10 years. So again, from age 45 to age 55. So the total amount that the corporation puts into the policy is a half a million dollars. The corporate tax on the daily cash value growth is zero. The passive investment income tax.

Investment tax is zero because the policy is not captured by the passive investment income rules. And so again, understanding that money must reside somewhere, what better place to have it reside than here? Now, from age 65 to age 90, Dylan is accessing $41,005 per year, per year after tax. Now, the way that he's accessing that capital via the corporation is an expanded conversation to have with you if you're a business owner. It's outside the scope of this webinar. And so Dylan was able to achieve his objective. He took $1,066,130 in retirement, passed away at age 91. The net death benefit in the policy was $806,717. Joe's death. Pardon me, Joe. Dylan's death gave rise to the capital dividend account in the corporation. And again, that's a discussion outside the scope of this webinar. But the moment that Dylan passed away, it gave rise to the capital dividend account. The capital dividend account received a credit of 3.506 million. And capital dividends are paid out to out of the corporation to surviving shareholders, tax free.

Understanding that your wealth must reside somewhere. Did this policy take away any of Dylan's options? So I'd love to hear from you in the chat window for NASIA or Dylan. Did storing money inside of this policy take away any of their options while they were alive?

You got it.

Isn'T that good?

Now one of the. We had a great question here, actually, if I can address it here from, from Brian. So Brian asks, how much does this cost to join? If I'm 53, how much money do I need to invest to retire? So, Brian, first of all, thank you for asking that question. What's important is to work backward from a defined objective. So what we would need to do is to help you to define how much capital do you believe you're going to require in your retirement years. We understand through the life insurance mechanism what your projected life expectancy is. And then we work backward from that to determine how much premium needs to go into this contract in order for you to achieve your defined objective. And so what I would encourage you to do, Brian, if you found yourself thinking, hey, this is something I want to clarify, then make sure that you schedule the call. It's a 15 minute discovery call. And if we determine that we can add some value and that we can assist you, then we'll schedule a becoming your own banker meeting with an authorized practitioner on our team. Does that sound good?

And then Kelly asks, what's happening from age 55 to age 65? So what's happening in both of these examples is that the cash value is rising on a daily basis are uninterrupted. The policy owner has the privilege of utilizing policy loans. So if the corporation needed some equipment, some additional human resources, then the corporation can utilize the policy loan provision to do that. For Nasia, she needed to maybe take care of like what we did where we eliminated the commercial bank as it related to her mortgage, all future vehicles that the family plans to purchase, vacations for the family, education for the kids, to name a few. There's so many different options there. That's what's going on from age 55 to age 65. And then at age 65, we're triggering the achievement of that objective and utilizing the policy as a preferred source of retirement income. So that's excellent question. Thank you. Okay, now again, if you find yourself thinking, how do I get started? The first thing is that you need to have the desire to change because without it you really can't do much. So you've got to have that desire to change what you're doing financially right now, make the decision to radically improve it and to introduce this process. Work with an advisor who's thoroughly familiar with the infinite banking concept to act as your coach. And that person should be an authorized practitioner with the Nelson Nash Institute. Or all of our team members are authorized with the Nelson Nash Institute. Above all, get started and do it now, because the longer you wait, the more you're penalizing yourself. Every dollar that's flowing through the books of someone else's bank is a permanent transfer of that dollar and all the interest that that dollar can earn for the rest of your lifetime and all generations that come after you. You can put a stop to that if you want to. There's one easy step to getting started, and that's to schedule a call with our team. You would have already received the invitation to do that. Now for our existing clients, thank you so much for joining us on the webinar as well.

You'Re already receiving invitations to schedule time with your advisor. But if any additional thoughts, clarifying thoughts, questions have come up for you on the webinar, then don't hesitate. Reach out to our headquarters. Schedule a time with your advisor. Make sure that you've captured the questions that have come up for you. Because like I shared with you at the beginning of the webinar, the more that you see this process, the more you'll see you didn't see. And so I find myself regularly, anytime that I travel, anytime that I take time away from the business to rejuvenate, I'm rereading Nelson's book. And every single time I reread it, I see something that I didn't see and I learned something new. And so let me open it up. I'd like to open it up at this point to questions. And so all questions are welcome. Anything that's on your mind, go ahead and ask because it's for the benefit of everyone that's on the call as well. Glenval I hope I pronounced that properly. Indicates fantastic explanation of how things can work. Thank you. I'm very humbled by that. Thank you so much. This is not work. I love explaining this process. I love coaching and mentoring on this process. And I'm surrounded by.