How To Create Your Own Banking System in These Simple Steps!

I'm going to be sharing some things with you that maybe you've never heard before, whether you've consumed content or you're brand new. And I'm going to be sharing some things that you may have heard before. But we always say repetition is our best teacher. Right. So for those of you who are familiar with our content and the whole process, this is just going to be really good to kind of deepen everything that you learned. And if you're new at learning about the process and all that kind of stuff, I'm going to do my very best to help you, you know, think tonight a little bit about what you're already doing financially today. Where is your money flowing to? Who has control? And we're going to rethink our thinking because you guys are very busy, right? You work really hard, and so sometimes we're too darn busy to actually take time to even think about things, simple things, or especially rethink your thinking. That's what it's all about. Because you think you know something, you think you got something, and then, you know, you start thinking about it a little more and it sinks in a bit deeper. Right. The more you see something, the more you'll see you didn't see. That's what this is all about. So I'm gonna promise to do my very best to keep it simple. Ridiculously simple. Okay. Hey, Lorraine, don't go too far. Put a Y in the chat, okay. If you're okay with me keeping things really, really simple. Or put a C in the chat if you want to make this really complicated and complex. A Y for simple or a C for complicated and complex.

Everyone's going for simple.

Yes. Because I'm a very simple guy. So we're going to keep it really, really simple. All right, so we're also going to talk about how to actually get started on the process. I was saying to my teammates just before we started the webinar, by the way, Rain, I am sharing my screen, right?

Yep.

Okay, good. I would say to my teammates just before we started the webinar, you know, I hear a lot from people and they say, you know, hey, Vern, you know, I've been consuming content. I've been reading the book. I've been talking about this a lot, but, like, how does it actually work? Like, how do I get started? So I'm going to go through that process with you and make it really, really simple and. And talk to you about how to actually get started. In fact, I'm going to do a new screen Share here. We have a lot of tools and resources that are available to people to actually guide you along the way in your journey. That's what my teammates are really good at, really good at coaching people and actually building their system with you shoulder to shoulder. Like, we are putting our capital or our money exactly where we coach our clients to put their money. We're not just, you know, selling this idea or a product or any of that stuff. We're literally building our family banking system right alongside you. And so, you know, the key thing that we want people to focus on is that this whole process of becoming your own banker, the infinite banking concept, it is a process. It is not a product. It's actually a practice. It's something that you need to engage in and be active in. So we always say that the process can help anybody, but it's not for everybody. It's just the truth. It's not for everybody because not everybody has the discipline or even the desire to implement this process. Just the reality. There's nothing wrong with that. It's just what's so right. So this is an example of a tool that we've developed. It's called the seven step guide. This is for somebody who's just getting new to the whole process and wants to learn. Like, hey, I'm interested in this whole thing called becoming your own banker. But where do I start? What do I do? I'm not going to go through and read all this, but I'm just going to point out some of the quick. A quick seven steps here. It says right here. Block off some time. 90 minutes to focus, to watch a webinar. Well, congratulations. Step number one is completed because you're here and we have a bunch of YouTube content and other tools and resources that I'll share some more about later. But this is another one just says, grab a drink. If somebody could put in the chat window for me. Team nelson nash film.com so we're always honoring the founder of this process, our great mentor, R. Nelson Nash. Okay. We always want to give love and, and credit to our Nelson Nash because he's the one who is the pioneer, the developer of this process called becoming your own banker. You know, he discovered this process through his own financial ruin in the early 1980s. And, you know, I'm really sad to hear that he had to go through that, but thank God that he did because it makes a real huge impact in our lives and everybody else's life that we all get to, to serve. So he went on like a 40 year journey and that's how we got here today. So it's pretty, pretty amazing stuff. So Nelson nashfilm.com learn a bit about who Nelson Nash is. Read the 77 page book. It's actually like a 92 page book, but there's about 77 pages of reading. So if you have not got a copy of this book, becoming your own Banker by R. Nelson Nash, we'll put a link in the chat as well to purchase your copy. You've probably already received an email or a text message with a link to purchase the book. Highly recommend reading the book because even if you never did implement the process, I promise you'll get a ton of value out of reading that book. There's some amazing life lessons in the book and so, you know, even tonight, write down some questions as you go through more content as you read Nelson's book. Write down some questions and eventually you can review those with one of our great teammates or an authorized infant banking practitioner. Take the bull by the horns, right? So decide you, you actually get to choose. Like no one here is going to twist your arm. No one's going to push you into a corner. This is all about free people entering into a free contract or a free process, right? So you get to take the bull by the horns and choose whether or not this whole process is for you. So that's what I always say to clients or prospects. I say, look, I'm going to make sure that you have clarity on this process. We're going to determine if it's a good fit for you and if you feel like it's a good fit. As long as you're crystal clear and you leave happy if you decide not to implement this process. Completely up to you, right? Because I've had people that I've spoken with and they've learned about the process and then they decided, oh, it's not for me. And then a year, two years, three years later, it just kind of keeps coming up and then they come back and they decide to implement it. So it's on your own time, time to get moving. So this is just a resource wealth though, Bay Street. I mean you can maybe get that quick form here to learn more about kind of your cash flow and how to capitalize your system. But the most important part, which we'll talk about tonight, is also booking a call, booking a time to connect with one of my teammates to learn more about the process and how you can get started. So that's just a little bit of a tool there. Quick start guide. If you Ask for it or whatever, what have you. We have plenty of ways to get that to you, so just gives you a little bit of a reference. But we're going to go through a lot of that tonight anyhow, so. Oh, there it is right there. Seven steps. I didn't even show that. So stick around to the end for Q and A. As Lorraine mentioned, there might be some people joining right now. See that we have about 130 odd people on the call right now. There's a chat window where I'm going to ask for a lot of engagement. You can engage in there and chat and make comments and whatnot. But if you have a question, please use the Q A window. You'll see that on the bottom of your zoom screen is some of your zoom tools. But at the end we're going to have some time with my teammates and we're going to answer some questions. So make sure you stick around because your questions will bring value for everybody. If I have a question, it'll bring. There's probably other people thinking about it or maybe they didn't think about that question and they'll get value out of it. So questions are good because they help create more clarity. So.

This is a quote from Nelson's book. It's all throughout the book. I just quoted page 63. He says that the infinite banking concept is an exercise in imagination. That is the first thing. It's an exercise in imagination, reason, logic and prophecy. Okay. Notice that he didn't say anything in here about interest rates or dividends or anything really about money or finance. Okay. This, it's much bigger than that. Okay. But we have to actually use our brain. We have to use our imagination. Now, Lorraine, can you do me a favor and actually get a little bit more engagement for me here?

Yeah, absolutely.

Can we agree together? Let's think about this. We need to spend some time, like, what is this whole process all about? Why are we implementing this process called becoming your own bank or the family banking concept? Why are we doing this? We cannot actually find a solution to any problem unless we understand what the problem or. Yeah, we can't find a solution unless we understand what the problem is. So if you agree with that statement, we need to spend some time figuring out the problem before we worry about a solution. Just put a Y in the chat box. If, if you agree with that statement, what are we getting?

Lorraine, getting all Y's so far?

Yep. All wise, Fern.

Oh, I think you're muted.

Just so I'm clear, nobody disagreed with that statement. Is that what you're saying?

Not that I can find. Nope.

Okay, fantastic. Because guess what? Some pretty smart people on the call. And some pretty smart people agree with you as well. Now, I haven't vetted whether or not I haven't done the research to, to know whether or not Albert Einstein actually said this, but it's a pretty darn good quote. So if I were given one hour to save the planet, I would spend 59 minutes defining the problem and one minute resolving. Resolving it. So think about that. That's the key when you spend some time with the problem. I heard this today actually too from somebody else. I can't remember who that was. But when you actually sit in the problem, you spend some time with the problem.

Everyone's experienced that the solution to whatever you're dealing with, it will start to come, become clear. If you don't know what the problem is, you can't think of a solution. So when we go through this, I want you to actually think about this. Is it true or not true that all of your capital, all of your money, it has to flow.

To some sort of a system? And today that system is the commercial banking system. There's a whole bunch of different banks, whole different bunch of brands and all that good stuff. But there's only one banking system and we have to take some time to explore. What does a bank actually do? How do banks make money? Let's think about this for a second. How do they make profit? And are they darn good at it? They are. Okay, Lorraine, I'm going to bug you a lot tonight, okay? Let's think about this question, okay? Invest with risk. So banks, they make a lot of profit. Do they invest with risk or do they lend with security? So put R for risk or S for security. Do they invest with invest and take a lot of risk or do they lend with security? How do banks make a lot of profit? Lorraine?

I'm getting a lot of security. All of it so far. Lend with security.

We got a lot of smart people on this call. So here's the question.

What's the security?

What do we mean by that? They lend with security. Now, how about this? We know what the security is, right? You're the security. Your income, your assets. It's your ability to make the payment. Now, the security could be your car. Because if it's a car loan, it could be your home, if it's a mortgage or a home equity line of credit. If it's an unsecured line of credit, there's. There isn't any security there, really, other than your income. They'll take the security away from you. They'll take the line of credit away or whatever. But the point is, that's why they give you lower limits and higher interest rates, right? Because there's not as much security. So if you don't make the payment or you can't make the payment.

Who has all the risk in that equation? So you borrow money from the bank, you agree to make the payments. If you can't make the payments, you don't decide not to make the payments. You are the one that has all of the risk.

Think about this. Who has all, all caps, all of the control?

The bank.

Now, who gets all the money?

Also the bank, right? So the problem that we're facing here, the problem. Because this sounds like a problem, right? You're doing all the work, someone else is getting all the money. You're taking all the risk, someone else has all the control. Like, just imagine that for a second. Imagine I walked into your living room. Like, I want you to think about this. Now, I would never do something like this, but I walk into your living room, Lorraine, play this game with me, okay? I walk in your living room and say, lorraine, gosh, do I ever got a deal for you? Tell you what, you give me all your money and I will, you know, take care of it. But I'm going to lend it out to you and all your friends, and I'm going to create profit from that money and I'm going to share it with all my friends. I'm not going to share anything with you. But when you ask for your money back from me, I'll give it back to you. But whose terms do you think I'm going to give it back to you under? Mine or yours?

Probably yours.

Yeah. Does that sound like a good deal to you? Are you interested?

Not at all.

Not at all. But interestingly enough, we unknowingly and unwillingly do this for the last about 120 years or so. We're all just like, yeah, no problem. I'll give the bank my money. I'll give them use and control over my money and allow them to do whatever they want to do with that money. Because they've created this illusion to make you think that there's no problem. Because when you try to transfer money electronically, it happens, right? They do all that to make sure that you don't find out what's actually going on. The money isn't really there because they've loaned it out. They need to keep the Money in motion to keep the doors open. That's just how it works. So it's. It's very interesting. I'm distracted because I'm seeing some really good comments. Let's see here. Can go back to share my screen. So, in a nutshell, that's the problem. Now all your money has to flow to some kind of a system. If your money's flowing to the system and sitting there and you're not really benefiting from it, someone else is using that money and putting that money to work and benefiting from that flow. What's the cost of all that? You can't see it. A lot of you on the call, you might not even know that there is a cost.

Has anyone ever heard the term lost opportunity cost or opportunity cost here? I could do a little bit of work for you, Lorraine. Has anyone ever heard that term put a Y in the chat?

Yep, they have heard of it.

Yeah. Right. And. And. But does anybody really do anything about it?

Like, what do we do about it? We're going to talk about that tonight. But what I'm going to ask you guys to do, I'm going to ask you to put in a little bit of work. Okay. I'm going to quote Albert Einstein again. He says, imagination is more important than knowledge. The imagination is more important than knowledge. Thank God for that. That works out really good in my favor. So here's what I'm going to do. I'm going to give you guys, I. I need to set the tone here for this. Okay? You see this really fancy slide? It's going to get even better. Shout out to my. My good friend and teammate, Satish. I wish I could take credit for creating all these cool slides, but that's just not my bag, baby. But I've got really amazing teammates who are really good at it, so I lean on them once in a while. We believe in collaboration here at Ascendant Financial. We don't. We have a competition free zone, so we all work together to support each other so that we can bring more value and serve more people. So Satish did me a good favor and he put together this slide for me. Now, I'm going to set the tone for you here, Lorraine, and if there's. How about you play with me if there's anything unclear about this, Lorraine? I want to make sure people get what I'm saying. It's ridiculously simple, but I want to make sure people get what I'm saying. Now, what you're seeing, those blue bars here, what they represent is a 25 year old individual earning, oops, earning $50,000 per year for, from age 25, age 65. Now I recognize that $50,000 might be a lot of money for a regular or average 25 year old. And I recognize that if somebody's earning $50,000 today, they're probably going to be earning a lot more in 40 years from now. Like I get all that. I'm not accounting for any inflation, not accounting for any taxes. This is a meant to be a very simple example to get you to think about how much energy, your money, the flow of your money, how much energy that capital possesses. Okay, now this is, this isn't. This really does not reflect anything in reality. Okay. This is for visual purposes and for thinking purposes only. All right, so Lorraine, is that pretty straightforward so far? 50 grand for 40 years, right?

Yep.

OK, now Lorraine, these orange bars, what they represent. So think about it shows age 26 there, right? So age 25, they earned 50 grand. If that capital flowed through a system, right, called the banking system. Imagine if you could harness that energy and flow that capital through a system that would allow it to grow uninterrupted for the rest of your days. Now I'm only going out to age 65 here, but for the rest of your days, what that yellow bar represents is the amount of interest that that single year of income could potentially earn over the course of your lifetime at just two and a half percent. Lorraine, is that a pretty conservative interest rate?

I would say so.

I'm not talking about any investments or anything. I'm just giving you an example. Two and a half percent of interest per year over 40 years, that $50,000 grows into approximately, let's call that 136, 137,000 bucks. Now the next year you can see, Oops. The next year you can see, obviously the interest would be a little bit lower because they're older. Less time to compound, right? Because we need two things to grow. Capital, money. We need time and we need capital. We need energy. We need to put capital into the system and allow it to grow. So that's why you can see that it goes down over, over time. But that orange line represents the interest that you are potentially giving up. Someone else is harnessing the energy of your capital. So $2 million is the total income over this example. And that $2 million, the lost opportunity cost is about 1 1/2 million bucks over the course of your lifetime at just 2.5%. Lorraine, is that pretty straightforward? Does that make sense?

It does, yeah.

You're a very sharp lady, though. So it's a little. You have a bit of an unfair advantage. So can we get a Y for yes. Can we get some participation? If what I just kind of laid out there for you, does that, is that pretty clear? Does that make sense?

Getting a lot of wise Fern.

Fantastic.

Vern, do you mind going back to the opportunity cost? There was one. No.

Oh, meaning, sorry. Go back to where now, what is.

What is opportunity cost?

Okay, opportunity cost. So I want you to think about this and I think I even share it a little bit later here, but just bear with me. So opportunity cost, when we refer to that, just to keep it really simple, this person who is, who is in, who's asking this question, Lorraine, if they don't mind, if they're there, if they can communicate back just through chat, obviously, you know, you have to use money in life to do things right. So can we agree that the minute you take a dollar and you spend that dollar, that dollar is gone forever? Yes or yes?

Yes. Yeah.

Yeah. Now, if that dollar is gone, what is also transferred with that dollar is the opportunity to earn any kind of interest on that dollar. So you didn't just spend the dollar, you also permanently transferred the opportunity to grow that dollar or grow interest on that dollar for not only the rest of your lifetime, but every generation that comes after you. Does that help clarify that for you a little bit?

Yes. Thank you, Vern.

Fantastic. My pleasure. Okay, awesome. Let me skip through this. So here's the deal with interest, okay? Again, we're not getting all complex with different investments and all that. We all know, generally speaking, that the, you, if you, you can earn interest on money, whether it's a certain type of savings account or investments or whatever, here's the deal. With interest, you either pay it. Okay, we're going to walk through an example here of what I say. You either pay interest. I'm going to get back to the other options that you have with interest. What we're going to look at is Nelson did a great deal of research in his book. This example is from page 17 in Nelson's book. Now, keep in mind this is a little bit older because he wrote the book in 2000. But if you.

After I go through this, this example, if you were to examine your own financial picture, the average person, in fact, my teammates could help you with this a little bit. But if you were to look at your own financial picture, you'll probably find, regardless of how money you make. This example I'm about to share with you is, is probably very common, very similar to what you're dealing with. So he reckoned that about 20% of your income, What I'm talking about is if you're earning, he, he used what he called the third, the all American man, the 30, $35,000 per year, right? 28 year old person. But it doesn't matter how much you make, you're probably spending close to 20% of your income on automobiles. That might include your payments, your insurance, you know, all that kind of stuff. You're probably spending close to 30% on housing, same thing, property taxes, you know, maintenance, all that kind of stuff, insurance. And then, and then also you're spending most of it on living, you know, just doing life, buying clothes, buying groceries, all that kind of stuff that we have to do. Now this is pretty generous, but in this example we are assuming that the person, the average person is saving 10%. I know there's a ton of stats out there that says that the saving rate is far less than 10% on average right now. If you add all that up, really simple math, as Nelson would say, third grade arithmetic, we got 100% of your income right now. What I'm, what I'm not pointing to here is the interest rate, the 5% on your vehicles. Doesn't, it doesn't mean, oh, my car loan is much better than 5%. Mine's only 2% or whatever or 0% financing. What we're talking about here is the actual volume of interest that you're paying to finance cars. So 5% or 5 cents on every dollar you earn is walking out the door on average on interest on car loans or car payments. Now if you look at your mortgage amortization schedule, what we're talking about, the difference between interest rate and interest volume. If you were to look at a mortgage amortization schedule, let's say over a 25 year period, and you looked at the purchase price that you bought the house for, 300,000 or whatever, and then you looked at the total cost, all in that you would have paid back for the mortgage. You're going to notice if your interest rate, let's say you had an average interest rate on your house loan, your car, your mortgage for let's say it was 3% on average. I know it's probably much higher than that right now, depending on what the mortgage you have, but you're picking up what I'm laying down. Maybe over the course of 25 years, your mortgage interest rate was 3%. Why is it that the interest amount that you pay is a whole lot more than 3% of what the original mortgage balance was. See, that's the difference between interest rate and interest volume. And who knows this intimately would be the banking system. They understand that. The lenders understand that all you're focused on as the consumer is the interest rate. I think, oh, 1.99 mortgage interest rate. That's fantastic. But that doesn't mean that every dollar you pay to your mortgage only 2 cents is going to interest, does it? We know a whole lot more than that's going to interest. That's the difference between rate and volume. Okay, it's all about interest volume. 5% on living. Right. Because that might be a line of credit, credit card, something like that. And then we've got the 10% savings rate. So here's the problem with all this. What people don't recognize is that if you're saving 10% of your income, you're taking one step forward, but you're taking three and a half steps backward because you're paying 35% of every dollar on interest. And that's not accounting for the fact that 90% of your money total is just walking out the door because you have to pay for life. And you're not getting any benefit from any of that other than getting the thing buying the gas, buying the groceries, living in the house. Okay, great, you get that. But someone else gets to harness all the energy from your capital. And if you're getting pissed off right now, I'm doing a good job. A little bit of fun for you. Okay? So what I'm going to do is to help illustrate this a little bit further. Again, shout out to Sarblo Gill, he's here on the call. I didn't make these awesome slides. I stole them from Sarblo. So thanks, buddy. You can see right here, this is just a little map of, of Alberta. I'm in Calgary. A lot of my teammates are in Edmonton. We're spread all across the country. People are joining us here from all across the country and we serve people coast to coast here on the Ascendant financial team. But I'm just using this as an example. So let's just imagine that what we wanted to do, for some crazy reason we want to go to Edmonton. I'm just kidding. Edmonton people. I love you guys. I just like to have fun with the whole rivalry thing. Now imagine that we're going to take a flight from Calgary to Edmonton, which I've flown from Edmonton to Calgary before and it took like 20 minutes. It was hilarious. But imagine this for a second. Calgary represents where you're at financially today in Edmonton represents where you want to be financially. Okay? Now if we have a, this, this is an example that comes directly from Nelson's book because he was an aviator and he was really good at creating analogies. Right. If you had a ground speed at 100 miles per hour, 100 miles per hour, okay, you're flying at 100 miles per hour. That represents the 10 savings rate from that annual pattern of spending that I mentioned earlier. But now from Edmonton, we have a 350 mile headwind that we're flying into. That's not a very effective flight plan, is it? Right. We're getting pushed backwards effectively by 250 miles an hour. We're heading to Montana. So what Nelson's talking about here is that there's, there's really not a whole lot I can do about whatever the interest rate is out there on, on loans or even my investments. I can't, you know, there's no point in me trying to work harder or make my 10% work harder. Look at the headwind that I have to deal with. So you listen to your, you know, the financial gurus out there talking about, oh, you can get 10%, 20%, 30% on your money. Well, 30% on your money is not going to do much when you're flying into all that interest and the rest of your income is just walking out the door. Right. So in what we're talking about here and what Nelson taught us was understand the environment. He couldn't do much about the weather patterns, but if he better understood the environment, he could wait until the conditions improved and then he would have better results in flying. The same goes for implementing this process called becoming your own banker. When we start to control the banking function as it relates to our needs and the flow of our money, you're going to see as we go on that it's going to make a dramatic difference on your progress.

Gotta wet the whistle. Okay, awesome. This is called paying interest. That's what it looks like. So you either pay interest or you lose interest. Okay. So most people or a lot of people that we talk to, they say, hey, you know what? Like Vern, here's the deal, you know, I don't have a whole lot of debt. I'm not sure if this whole becoming your own banker thing is for me. I don't know where people get it in their minds that you have to have debt in order for infinite banking to make a difference in your life. If you don't have any debt or any bad consumer debt. It just means you're that much further ahead because you still need to finance everything that you buy. So whether you're paying off debt or you're buying an investment or you're buying a new car, that's all a financing decision, and you need capital to do that. And it's all a part of the banking process. So if you don't have any debt, you're in a better. You're in even better shape. We might talk a lot about using this system to help improve your debt situation or do what's called debt recapture, which we'll talk about a little bit later, because a lot of people, unfortunately, particularly in Canada, are dealing with debt. But if you don't have debt, that just means you're further ahead, you're ahead of the game. You can start focusing on putting more money to work and creating more income rather than trying to eliminate your payments and recapture those payments. Right? So you either pay interest or you lose interest. Now, a lot of people say to us, Vern, like, I don't really worry too much about the whole interest thing because I save my money and then I pay cash. I pay cash for all my cars. I pay cash for, you know, insurance premiums and property taxes and maintenance and, you know, renovations. Not to worry, Vern. I pay cash for that. Well, didn't we just spend some time earlier talking about the, the, the impact of opportunity cost? So what people don't actually see is when they're paying cash for things. This is why we need to think about it and use our imagination. When you pay for cat, pay cash for things, you permanently transfer the opportunity to grow that money. The dollar's gone, and so is the interest. Oper the opportunity to grow the interest. But also think about this for a second. How do you actually go about saving money? You work real hard, and then you systematically set money aside for a future payment or a future purchase. If you're setting money aside, isn't that a lot like a payment? And by the way, while you're setting that money aside, who's getting all of it? Who has use and control over it? And is it working harder for them than it is for you? Likely. So it's sitting, collecting dust in some bank, and then you drain that, drain that account dry and go buy your car. Now you have the car, but someone else has all your money and all the growth potential that goes along with it. And then you go back to work to try and pile up the money again. Just so you can spend it all later. So you're just kind of doing this all the time. So you're not making any progress by paying cash for things. So if you look at this slide again, same deal where you're at financially as Calgary, where you want to be as Edmonton, and you're not really getting any further ahead any faster. You're just kind of cruising at altitude, cruising at 100 miles an hour ground speed, and you're going to be ahead of the game, maybe this person who's paying all that interest. But you're losing out on an incredible opportunity to grow your capital and you're losing interest. Awesome. So, by the way, I just noticed that I'm cruising along here because I'm thinking about what I have to cover. It's going a lot faster than I thought. So it's all good. So you pay it, you lose it, or you earn it. Okay, so.

Can we do a quick check in with everybody? We're going to talk about the solution here coming up. We're do a quick value check. First of all, if you're receiving good value and you're kind of picking up what I'm laying down, you know, a 10 would be wonderful. If you're receiving good value and that actually gave you some things to think about or you felt like everything I shared was kind of on point, a 10 means this is a good use of your time so far. And a one would be like, I can't figure out why I'm still one of the 138 people on this call or whoever's joining us on YouTube live. One being you wish you were doing something else. Ten being we're doing pretty good so far. Can we get a quick value check?

Yeah, we've got tens, hundreds, thousand even.

Holy smokes, I'm blushing. Can you tell?

Amazing. Well, that's fantastic. Well, I got good news for you. If you're receiving value from this little conversation, I got a whole lot more value for you because I have some amazing teammates on this call right now. And I myself, I'd love to connect with you as well. If you text the word schedule to 7, 8, 0. Oh, did I do that right? Sorry, a typo. Typo, everybody, my teammates will put this in the chat. And if you're on the YouTube live, please pay close attention to this. I did a typo there. Didn't have time to review these slides. It's not 7, 8. It's 787 89. 4599. We'll put that in the chat. And I think one of my teammates is also on the YouTube live. So if you don't mind putting that in the chat on the YouTube there, Roman. If I think it's Roman that's doing that for me. Sorry about the typo there, gang. So if you text the word schedule to 780-809-4599, we. We will connect you with one of our teammates, get you on a call so you can gain some more clarity. Because it's reasonable that you might leave here with a couple of thoughts or questions or clarifying points that you want to make. Reach out to our team, get in in the calendar. It doesn't cost you a darn thing. And then you can start moving forward with the journey or at least finding out if this is actually going to be a good fit for you and your family. Okay, so becoming your own banker, how to set up your family bank. So let's talk about this.

You know, anything that you want to do in life, like, do we have some. Do we have some people who work with their hands? Do we have some construction workers on the call? Maybe construction. Even if you're doing any kind of engineering, really, if you're doing anything, is it fair to say that whatever objective that you have, you there's different tools that you can use and there's some tools that are better than others. Is that fair? Yeah. Right. For example, I used to be a fire systems installer, a sprinkler fitter. So when you look up at the mall or in the condo building or whatever, and you see that little sprinkler head there, I used to install those. It's a very amazing system. Protects buildings, all that good stuff. They don't get used very often, but when they do, they're super effective. So I used to be a sprinkler fitter, and we used to use a lot of pipe wrenches. Now you can use a pipe wrench, the back of a pipe wrench, to whack a nail, can't you? But it's not the most effective tool for the job. If you want to hammer that nail in, that's your objective. You need to use the right tool. If you want to cut your grass. You could walk out your front door with a pair of scissors, drop to your knees and start cutting, and you would achieve the objective of getting that grass cut. But I think we can all agree that a pair of scissors is not the right tool for that job. So we're talking about implementing a process called becoming Your own banker, the infinite banking concept, family banking. Well, that's the process. We need a tool to implement that process. In fact, you can use many tools. But the best tool that we've been able to find for this job to implement this process is called a dividend. A participating dividend paying whole life insurance contract. The key is it's a contract. It's a legally binding contract that you own and you control. It's actually a piece of property. Okay, I want to make the point here that although I'm a huge advocate for life insurance and dividend paying whole life insurance is a great tool when it's structured correctly and you're working with somebody who actually knows what they're talking about and they have some of their own policies in place and all the rest of it.

But the process becoming your own banker actually has this much to do. Zero with life insurance. Right. The life insurance policy is actually just a tool. Right? So you'll hear a lot of people out there sensationalizing this process and beating up on whole life insurance or saying this process is whatever doesn't work or it's hokey or whatever it is. Those people, God bless them, but they're missing the entire point. Or you hear some people saying that the policy is supposed to be set up like this or it's supposed to be set up like that. What if we set the policy up to meet your lifestyle? What if we build a program that works for you rather than telling you how it has to be and fit me in some kind of box. How about that? Right? And so people who are saying that the process becoming your own banker doesn't work, they don't understand the banking process and they certainly don't understand the problem of banking. Right? Because if you're not a life insurance fan or you're not dividend paying whole life insurance contract fan, then go use a different tool. But you should certainly be implementing, you should be controlling the banking function as it relates to your needs. It's just that simple. It's that simple. Right now why do we use this dividend paying whole life insurance contract? All I'm going to do right here is I'm just going to point out a few highlights. Okay? We're not going super in depth into a contract or anything like that, but we're just going to point out a few highlights. So participating dividend paying whole life insurance contract components. First of all, you want to think of this whole system as starting your own business. If you're going to start a business, businesses need Time and energy and capital. Right now, this process is pretty darn simple and it's pretty passive. But you got to put capital, you got to put energy into your system. Money, and we call that premium. So you get to capitalize your system, and who's going to be the one who determines how much premium you're putting into your system? Is that going to be me or one of my teammates or is that going to be you?

If you said you, you're correct. Right. We're going to give you some good guidance, but you're the one who gets to make the decision of how much you want to capitalize your system with. And it's really, really simple. A lot of people want to ask me. They. Vern, I want to see the numbers, man. Like, what does it look like? How. What's this thing going to look like? What if I put in 5,000 a year? What if I put in 50,000 a year? This is how simple this is. If you put 5,000 in, it's going to do really well and it's going to perform the same way as one. That's 50,000. Just the 50,001 is going to be a lot bigger because you're putting way more cash, way more energy into it. Is that ridiculously simple or what? I love this stuff. Okay. Oh, did I make that slide twice? Oh, my goodness. I like to capitalize my system so much that I put that slide on there twice.

All right, awesome. So death benefit. The policy is immediately going to have a death benefit, you know, so if I put X amount of dollars into the policy, it's going to have a death benefit that's far greater than what I paid for it. God forbid or higher power of your choice, forbid I get struck by lightning or smacked by a bus or drop dead. Somehow a whole lot more money is going to come out tax free to protect my family and, and, and to fulfill the promises that I made to them than what I put into it. Is that good or good? I mean, I'm gone, but my family's pretty important to me, so I want to make sure that they're looked after. They never have a bad financial day. Is that fair? Okay, great. Now, that death benefit is really important. Not just when you die, but while you're alive. And I'll dive into that a little bit as well. The policy has what's called cash value. You could think of that as equity or capital to capital is not cash. Capital converts to cash. So cash value is not cash. It converts to cash. And that cash value when the contract is set up correctly, it's going to start to accumulate from day one and it's going to grow on a schedule, a guaranteed schedule, every single day that you take air into your lungs. Because this policy system is not an investment. In no way, shape or form is it an investment, okay? It's a legal contract that has guarantees, investments. Nothing wrong with investing. But investing has risks. Meaning your capital could grow and build or you could lose money. The policy values are only going to go in one direction and I'll give you two guesses which direction that is. And the first one doesn't count. You got it? The direction is up. Those values are only going to go up every single day. And each day that goes by, that value becomes locked in, vested. Okay, Fantastic. Now, if the policy is structured correctly with the right type of company. Sorry, dang, I got a runny nose. If the policy structured correctly with the right type of company, you will become a co owner in the life insurance company. Now I cannot emphasize how important this is right now. You flow all of your capital, all of your money flows to someone else's bank that you don't own. And you're not participating in that process at all. And I'm not, I'm not, you know, laughing because I'm laughing at anybody who's doing that. I'm laughing because of the brilliant process or the brilliant job that they did to convince us, the banks, that we actually need them, we think, or they've convinced us that we need them. So we send our money to them and then they loan that money out and create profit and we don't benefit from that at all. And you're going to flow the money anyway. So would you rather flow the money to a company, an entity that you co own and you get to actually participate in all of that activity, all that flow, all that energy that's growing, you're going to flow the money anyway. So you become a co owner in the life insurance company now. Oh, I don't have one of the most important components on this, on these slides about the relationship between cash value and death benefit, you can Access up to 90% of your total cash value anytime you ask for it. Because you own the contract, you set the terms. So if your cash value is growing every day, what would be happening to your access to cash every day?

It's rising every day and it gains momentum over time. Okay, so this process is not an overnight thing, it's not a silver bullet, it's not a get rich quick. This is a systematic process that's meant to be implemented incrementally over time. So people who are out there sensationalizing this message and saying that you can put a zillion dollars into these policies tomorrow and get a zillion dollars out of it, they're shortsighted, they're not following Nelson Nelson's teaching. And I have full confidence in saying that, God bless them, but they're doing themselves and those clients a disservice. So this is so the relationship between cash value and death benefit is that your total cash value in the policy actually has to rise to match your total death benefit. And it's on a schedule. So the name of the game is build more death benefit to create more cash value. The more death benefit you build, the more cash flow has to chase right on behind it. Okay. Pretty amazing stuff. So that's the tool that we use. Those are some of the reasons why we use the dividend paying participant whole life insurance contract. Okay, now.

When I say we're setting up your system, you might not have noticed this just by me sharing this with you, but congratulations, you've already started. Because you have to start by actually thinking and realizing that there's a problem. That's why you're all here on the call today and that's why you're watching on YouTube live. Because you recognize inherently, fundamentally, somewhere you know that there's a problem. You're like, something ain't working here. The cost just keeps going up. My income is not keeping up with it. My investments might not be doing that great. My interest rates are out of control. Money is always leaving. That's the problem. So you need to educate yourself, which is why you're here tonight. Congratulations. And then you're going to continue, continue to consume content. So that's a part of getting started. Like I showed you that quick start, quick start guide or that seven step guide earlier today. You're here, you're learning. Now you schedule a call, you sit down with a coach and you also understand why we're using the dividend paying whole life insurance contract and there's many other benefits that I didn't mention. When you get together with a coach, what we're going to do is we're going to make sure that you actually have clarity on the problem and on this process and we're going to get clear about how are you actually structured financially? What is your financial makeup? What does your financial DNA actually look like? And then what are some objectives that you actually have? Why are we implementing this process? How do you see this process helping you accelerate your objectives or get closer to your objectives or whatever that might be, being more efficient, whatever it is. What are some objectives that you have? And my teammates do an amazing job of helping you uncover some of those objectives as well. So we're going to have some, you know, in depth conversations about that. What are some objectives that you have got to think long range, long into the future. However, we want to identify what is a quick win that you can have so you can start to implement the process and start feeling, feeling good about what you're doing. Because although this process takes many years to implement and fully implement or have it grow or whatnot, you're going to be putting more money into the system in the early years than what you can access out of it. But that doesn't mean you have to wait 5, 10, 15, 20 years to actually get started in making progress and implementing the process right away. So we want to identify something, what would be something that would, hey, if we could achieve XYZ in the next 90 days, would you be really happy with those results? And the answer is yes. Fantastic. So we want to identify a quick win. Okay, now we've gone through and educated you. You have clarity. We've looked at your objectives, we looked at your financial DNA. We've maybe presented a solution to you that you've said, hey, Vern or Sarblo or Dan or Henry or whoever, man, this is amazing. I definitely want to implement this process. Well, fantastic. If we show a solution to you that you think is going to help you achieve your objectives and you're happy with it, then we would expect that you would implement that solution with us and nobody else from the financial industry, nobody else from the insurance industry. Okay. Because we sacrifice our time and energy to bring a solution to you. We would just respect that you implement that process with us. Right. Can't hold you to that. It's just an agreement that we like to make. Now once we present that solution, you go, that's great. Well, now what? Well, now we're, remember, we're actually applying. We're using a life insurance policy to implement this process. And the life insurance company has a duty of care to grow profit for the participating policyholders. That's you and me. And one of the things that they do and the responsibility that they have is to protect the risk to the owners. Right? We're the owners. So they're going to take a life insurance application and they're going to look at your health and they may ask for some Blood or some urine. It depends on your age and the amount you're applying for. They may engage and ask your doctor for your medical record. You know, you give permission for all that stuff. There's a whole process that happens. Usually takes somewhere between three and six weeks to get a policy approved after it goes through underwriting. But you're right, not everybody gets approved because sometimes we have a health situation or whatever it might be, because again, we might be able to improve that situation or whatever. And some of you are probably already thinking, oh gosh, what if I can't qualify? Or what if, what if I'm too old, I hear that all the time. Or what if I'm too young? Like, who knows? All of you are now thinking different things. Now that I'm going through this, I'll point out one thing. Today I have 12 policies in force in my family banking system. And I have my 13th policy in underwriting right now that 13th policy is on the life of my niece. I say again, that 13th policy is on the life of my niece. So I have two, three policies on each of my children. I have, we have two policies, three policies on my wife, we have two policies on my own life. So does that. One of the questions is, oh my gosh, you can get more than one policy on one person. The answer is absolutely not in every case. But generally speaking, yes, you're not limited to just one policy. I also own a policy on the life of my brother in law. Without getting into all the details, it's because we have some business together and there's a reason for me to have. There's a financial loss to me if something happens to him, which is why I was able to put a policy on his life. So what I'm getting at here, long story short, you don't necessarily have to be the body. Ideally you would be the life insured or at least one of the life insureds. But if you couldn't qualify because of a health reason or what have you, that doesn't mean you can't implement the process of becoming your own banker. You just need to have somebody who you have a financial interest in and who's willing to put an application in on their own life, or if it's a child or something like that and you're their guardian, then you have control over that. So you can do something for that child that they can't do for themselves and you could be the owner of the contract still and have total and absolute control. So it's pretty awesome. Now we Got to capitalize your system. We have to pay the premium. Right? Because again, you're already paying the premium right now. You just don't know it because all of your money is flowing somewhere. All of your money has to flow somewhere, and it has to be stored between now and when you use it. So every single dollar is already being used. You're already paying the premium. We just need to reevaluate your spending or where you're saving money and redirect cash to your policy system. Oh, wait a minute, Vern. Remember to show values. I must have put this in here to remind me to do something. Lorraine, can you do me a favor?

Okay, yeah, absolutely.

I'm going to do something that's probably going to make some of my teammates skin crawl. Now, Dan, don't worry, I'm not going to show any branding.

So put a Y in the chat if you'd actually like to see some numbers in terms of what a policy looks like. Put a Y in the chat for. Yes, I'd love to see some numbers to get an idea of what's. Keep in mind, this is an idea of what's possible. Or put an N in the chat for now, that doesn't really matter. And if you put an N, I love you, but I know that there's going to be a lot of wise.

Yeah, sorry to say, Vern, they're all wise.

I thought so. Okay, so I have to set the tone here, Lorraine.

When I, and I know that people are going to get this wrong anyway, I already know it. But when I show you these values, this is not me or us saying, hey, this is how a policy has to be structured. This is how we structure policies. This is just a very, very simple example only to show what is possible. Lorraine, does that mean that what I'm about to show is 100% guaranteed and this is absolutely how it's going to happen and there's no way this thing can fail. No, no. Oh, by the way, I got good news for you, Lorraine. Who is the only person that can collapse your banking system?

Myself.

Correct. Okay. So if you don't pay the premium or you're re, you're pulling out policy loans or borrowing money from the policy, not paying those loans back. Like, do banks do real well when they don't get their loans paid back.

If they're not receiving deposits or capital?

Right. So why would this system be any different? We're talking about becoming your own banker. We're literally implementing the banking process using a whole life policy as a tool so you got to pay premium and you got to repay your loans. But you have control. That's the key. If you needed to pause or decrease or increase or whatever your payments, guess who has total and absolute control. You just have to have an intention. Your intention is to pay the premium and to repay the loans. Okay, so we're going to share my screen now again Lorraine, bear with me here. This is just to show what's possible. Okay? Now earlier today I used an example where I talked about a 25 year old person earning. Lorraine, can you see all those values? Pretty good, yeah. Is that big enough? Yeah. Okay, you can see up here I happen to pick a male. I'm not picking favorites here. I just happen to be a male. I picked a 25 year old single individual and a non smoker. Okay, now again for all you gurus out there who might see this, we recognize there's a bunch of different ways to set up policies. We already know that we're going to set up a policy or system of policies based on your individual needs. That means we might account for different types of premium flexibility depending on your situation. We might big make it bigger or smaller or somewhere in between we might increase the death benefit or decrease the death benefit or whatever. All these different things depending on your situation. So please don't look at this and make a bunch of comments and talk about how it's good, bad or indifferent. Okay? It's just a simple example to show specifically the reason why I'm sharing. This is the potential what's possible. Okay? Now Lorraine, you could see here that it says right here, cash premium right now there's $50,000 a year flowing into the policy. Lorraine, if you earned 50,000 bucks a year, could you turn around tomorrow and put 100% of your income into a policy? Please say no.

No, I don't think so.

No, you cannot do that because you need to use that money, right? So the policy system has to grow. So a lot of people get on calls with us and they say, I want to put 100% of my money into this thing. That's great, I want to do that too. But again, read Nelson's book and he'll clearly lay out that's not how it works. So again, this is not an example to say, well hey, you're putting all your money in the commercial bank. Just turn around tomorrow and put it all into a life insurance policy. Doesn't work that way. Again, this is just to illustrate the power of this tool in the, in the growth potential that your Capital has. So most of the policies that we structure, again, there can be different ratios here, but you can see $50,000 in this example. That would be the maximum premium that can go into this policy. But you can see right here, see, it says guaranteed premium. Again, this can be changed and moved around and this isn't the 100% how they always are. And oh, I don't want to hear it. Okay. I just, I'm having some fun here, Lorraine. But we hear so many people get on calls with us and they start talking about all this weird stuff, 9010s and 8020s and oh, I listened to a guy out of the US and he said it has to be a 9010. And what the heck does that even mean? Like, I know what it means, but I'm just saying, like look at Nelson's book. It says that nowhere. The problem is all of your money is flowing to someone else's bank. The solution is the process of becoming your own banker with a properly designed dividend paying, participating, whole life insurance contract. Forget about all this nonsense about the product. You gotta flow the money into the system, you gotta capitalize it. And by the way, this is a base premium. Lorraine, would you say is there, is there quite a bit of flexibility between 50,019?

Yeah, almost 30,000 in fact.

Yeah, $30,953.81. That's a lot of flexibility. But Lorene, would you also agree that this is a pretty strong foundation.

Isn'T it?

Y. Yep.

Now if you have a really small and weak foundation, how tall can you make a building?

Not very tall.

Yeah, you don't have to be Tehran or Sarblo or an ex recovering engineer to know that that's simple basic stuff. So if you want to build a strong family banking system, you better have a strong foundation, simple as that. Because there's a really important contractual guarantee. Lorraine, you see this right here? It says guaranteed death benefit. So on this 25 year old healthy individual, he's going to put 19,000 bucks a year into this example and he's going to create just under $1.5 million of permanent death benefit. That means if he pays one month or one annual premium and get smacked by a bus, no less than $1,900,499,700 is going to pay out tax free to the family. Is that pretty good? Aside from the fact the guy died?

Yeah, I would say so.

You got it. Now that would be the minimum amount of cash value that has to accumulate by age 100.

But Lorraine, who has more control over what happens to the death benefit, us or the life insurance company?

Us.

Absolutely. That's because when we decide to pay more premium and when we receive a share of the profit every year from the insurance company, these insurance companies have been paying dividends in Canada for about 175 straight years. But the general public has been convinced that this is a stupid place to save money. Makes no sense to me. But when we pay extra premium or optional premium into the policy. You can see the key word here, Lorraine. Optional. Do you like to have options, Lorraine? If you were planning to put $50,000 a year into a policy or $5,000 a year into a policy, or $2,000 a year into a policy, or $100,000 a year. You see where I'm going with that. Lorraine, if you were Planning to put $50,000 into a policy every year, is there a chance that life could happen and you might not have $50,000 on the policy anniversary date in the third year? Could that happen?

Yeah, absolutely.

Would it be good if you could like reduce your premium and then make up for it later? That'd be good, wouldn't it? Okay, awesome. So we structure the policy so it has a lot of flexibility which helps it, you know, accumulate more and create a lot more value and immediate accessible cash and all that kind of stuff, which is great. But you can see that's what gives us the total premium of $50,000. It's the 19 plus the 31 gives us 50. And now Lorraine, didn't I say earlier that you're going to put more cash in the policy in the early years than you're going to get out of it? Is that. Did I say that?

You did, yes.

Awesome. It takes time, people, but one thing is the time is going to go by anyway and you're never. When are you going to not need capital and banking?

Never.

If you figure that out, let me know. Okay? The answer is never. So you can see Here, I put $50,000 a year in this example, this 25 year old guy, and then he's got $42,500 of cash value by the end of the year. And then Lorraine, can you do me a favor as I scroll down here, can you pick a year where that cash value goes backwards?

Can't see. Can't see one.

Can't see one. Isn't that interesting? Okay, fantastic. Now this I really like. I'm going to share something with you here, Lorraine. Tell me if you can see.

Do.

I have to do a new Screen share or can you see the COVID of Nelson's book right now?

No, I can see it.

Oh, fantastic. Okay, this is one of my favorite pieces of the book. We're going to scroll down. Lorraine, no pressure. I can certainly do this. But do you fancy yourself a good reader?

I think so.

Okay, awesome. Do me a favor, can you just read that highlight for me?

It all reminds me of a phenomenon in physics. Take a pail of water to the seaside. I want you at sea level and heat it to 210 degrees Fahrenheit. And all you have have is very hot water. But if you heat it up to 212 degrees Fahrenheit, you have the live steam with unbelievable power. The steam engine changed the world. But it doesn't happen until you get past 212 degrees. Lots of heat goes into the process up to boiling point, but the dramatic power comes suddenly.

Okay, I want you all to think about that for a second. The steam engine changed the world. Nelson had an amazing analogies and this is why we say you have to think. Sometimes people read the book and they come back and they go, yeah, I did. You know, I got a lot more value out of your video. I didn't, I didn't really get a lot out of the book. It's because they just gloss over. This gold right here, this is gold. What is he talking about, Lorraine?

What he's talking about is.

Heat, fuel, energy.

Right. This cash value. Take a look at the cash value here, Lorraine. You see this column? It says annual increase in total cash value. By the way, Lorraine, if you decided not to put the full premium in or you put, or you delayed putting the premium in, would that have an impact on the values?

It would, yeah.

Yeah. So like your behavior is more important than the life insurance company, right?

Yep.

Could interest rates change, like the dividend scale or whatever?

Yep.

Could. Could the cost of insurance change?

Yeah.

Yeah. Are there some factors that might impact the values of the policy?

Yep.

Are most of those factors within your control?

No.

Hold on. Yes and no. I might. That might have been a kind of a trick question. Yeah, there's a lot of factors that are out of our control. So if there's out of our control, Lorraine, would it be.

Worth it to spend a lot of time worrying about those things?

No.

No. For God's sakes, no. Free yourself, liberate yourself. Who cares about the dividend scale, interest rate or whatever the heck? Who cares? It doesn't matter because the money has to flow somewhere. What you can control is how much Capital you put into the system and how you use the tool, how you actually implement it in your life. And there's so many things that are available to you that you cannot see on this chart. That's what we're trying to get people to focus on and to think about and to use your imagination. Now, Lorraine, do you see right here? This is annual increase in the cash value. So we can look at the whole cash value total here. And, and that's great. But what this is showing is the year over year growth on the cash value. So at the end of the first year we have 42. 5. At the end of the second year we have 89,990. But the growth difference between year one and year two was 47 versus 42. Are we gaining momentum?

Do you know what they call these first few years or what I like to call it? That's just hot water.

Okay?

That's hot water. That's 210 degrees Fahrenheit right there. But do you see where. What's the premium?

50,000.

What was the cash value growth in the third year?

51,750. And your mouse is on it. 57.

Oh, sorry, yeah.

54.

Okay, so every year thereafter, does the cash value increase by more than 50,000, which is the premium we're paying?

It sure does.

It does.

Okay, so do you see? Now we have live steam because the system is kicking out more energy than what you're putting into it, isn't it, Lorraine? Have you ever heard of a term, have you cost neutral? Have you ever heard of that?

Yep.

Okay, so five times 50,000 is 250,000, correct?

Yep.

Is that more than 250,000 in the fifth year?

It is.

Lorraine, would you be real upset if that didn't happen until the 8th year?

Would I be real upset if that didn't happen? Yes.

You would.

I think so. I'd rather happen earlier.

Oh, well, hey, we all would. But my point is, who the heck cares? It. Is there any. What I'm getting at, is there any guarantee that that's going to happen in the fifth year?

No, there isn't?

No. And does it matter?

No.

No. Because are you going to put the 50 grand somewhere anyway?

Exactly. Yeah.

Yeah. And do you have a lot more years hopefully in front of you than five?

Yeah.

Yes. Okay, great. Now the only reason I asked you that question, Lorraine, is because again, I don't want people looking at this and going, hey, great, I just watched this webinar and my policy values are going to be greater than the amount of premium I put in after five years. Isn't that awesome? There's no guarantee that that's going to happen. It just happens to be in this policy design for this individual at that age and that health status and all the rest of it. Right, Cool. Now, every year thereafter, the cash value increases by more than what we're putting in now. This is not meant to be compared to an investment because I guarantee you people are looking at this right now going, oh, I could do way better than that in the stock market or in private lending or real estate investing. Yes, you probably could. But this is not a this or a that situation. It's a this and that situation. Ask yourself this question, savvy investor folks, who could build an investment much better than this policy? If you implement this process, does that mean you're not allowed to or you can't go and take advantage of investments?

No. In fact, we would love for you to use your system to finance the investment deal. Because what a lot of people don't see is that in order for you to inquire acquire an investment, it requires a process called banking. A transaction has to occur. And who is controlling that transaction? The answer is not you. So that means when you take the cash and you buy the investment, the investment grows, but your capital is gone or it's tied up, your cash is no longer growing, the investment's growing. Why not take advantage of both sides? Why not control the banking function and have uninterrupted growth in your capital and still be able to acquire the investment and enhance your results without working any harder or taking any additional risk? Lorraine, does that sound good or good?

Sounds great.

Fantastic. Okay, Now, I, I used $50,000. Because we used $50,000 in that cash flow example earlier, right?

Yep.

So if we. Lorraine, if I highlight this column and I, I cut the premiums off at age 65 on purpose, could I continue to pay premium beyond 65 if the policy structured to allow me to do that?

Yep.

Yeah, but I did that because of quote, unquote retirement age. Okay. Now, Lorraine, could you take a look at the. Can you see, this is really small. See the bottom of my screen? Two million bucks, right?

Yep.

Total premium. $2 million over 40 years.

Do we have a lot more cash value than 2 million or a little bit?

A lot.

That's a lot, isn't it?

Yep.

Now, Lorraine, I want you to listen to this question very carefully. If that number was 4 million instead of 6.

Would you be real upset?

I. I wouldn't be mad at $4 million? No.

Well, because how much did you put in?

$2 million.

And if you put $2 million through the commercial banking system, how much do you get to spend?

2 million.

2 million. So we're putting the same amount of capital through this system. And it looks to me even if I royally screw this up, I'm going to have a lot more cash in there than what I ever put into it. Is that good or good? Okay, now, Lorraine, I want you to do me a favor. Let's just pick age 68 for a second.

You see this right here? It says that the cash value increased.

By 363,000 bucks that year. Maybe it's 300, maybe it's 315. A lot of factors are going to play into that. This is just a projection. Most of it depends on your behavior. But the question that I have for you, Lorraine, is how much cash did you put in in that year?

0.

0. You know, a lot of people ask me silly questions like, hey, what's the rate of return? Well, rate of returns refer to investments. But Lorraine, if you put nothing into a system and you grew 363,000 bucks because of behavior you displayed earlier in life, what would be the rate of return that year?

Astronomical.

Is that infinite or what?

Yep.

Fantastic. This is a pretty amazing tool. But does it happen overnight?

No, it doesn't.

No.

Now, here's the most important contractual guarantee, gang. Are you ready? By the way, Lorraine, do you see the total cash value over here? I didn't talk about paid up additions. Right. That much. Basically, guys, when you're paying premium and receiving guys and girls, when you're receiving. When you're paying premium and receiving dividends, we're using that optional premium and. And the dividends that come in to actually build and grow your death benefit through something called paid up additions. It's paid up additional death benefit. That's why you can see the total death benefit column. It's growing pretty rapidly over time, isn't it, Lorraine? Now can you tell me, are we as. As we're. Oops. As we're younger, when we're young, are we further protecting the family by growing the death benefit?

Yes.

Are we guaranteeing and securing our legacy? Yes, absolutely. Now, the more death benefit that grows, the more cash value that's going to be produced. Lorraine, can you confirm for me that's the total death benefit right there?

And this is the total cash value. Are those two numbers exactly the same?

Yes, they are.

Right. And if you chose for 10 or 20 of these years to pay a lot less premium. Would there be less death benefit?

There would be.

But would the death benefit and the cash value still equal?

It would.

So does it ultimately? Well, it does matter how much cash you put into the system. But is it going to work the same regardless of how much you put in?

Yep.

And isn't that good?

It's great.

Awesome. Now Lorraine, we've already established that a 25 year old person or even anybody isn't going to turn around tomorrow and take a hundred percent of their income and put it into a policy, are they?

Right.

They can't even do that. We couldn't even get that past an underwriter. It has to be done over time. Now that's not realistic. But Lorraine, is it realistic that this individual could save 10% of their income as premium?

I think so, yeah.

This is where it gets good guys, because everybody thinks. Not everybody, sorry. There's a group of people out there that think, oh, infinite banking, man, you gotta, you gotta put like a gazillion dollars worth of premium into these policies. It's crazy. Lorraine, is 5,000 bucks a lot of money? It might be to some people, but it's just, it's not a lot of money, is it?

It's reasonable for 50 if you're making $50,000 if you make a 50 grand.

Pretty reasonable, right? The reason why I'm highlighting this is Lorraine, look at the minimum premium. It's 2000. The other one was 19, not quite, but pretty darn close in terms of a structure, right? The flexibility. This one, three grand. The other one was a little over 30,000 or something. The total premium is five grand. This is 10% of the size of the other one. Now you can look at what happens to the cash value starts to accumulate over time, Right. And then look at the year over year growth. Is the same phenomenon not occurring in this policy as the much larger one. It is, it's the exact same thing. So it's not about what does the policy cost or how much can I, or do I have to put in, it's how much can you put in? And it's not about how much you put in, it's that you put something in and get started. It's as simple as that. So the same phenomenon starts to occur now, the other one. Yeah. If you looked at the actual values, they're a little bit higher. Well, they're a lot higher because of the money that you're putting into it. But the, the actual growth rate, if you want to call it that, would Be higher. But that's very simple. You're just putting more energy into the system. So it's like Costco, right? You put more in, it works harder for you type of deal. Does that make sense? Okay, cool. So here's the deal, Lorraine. I. I did all that to do this. If I were to add this all up. Simple third grade arithmetic. $200,000 worth of premium compared to 2 million.

And look at that, we have $605,000 worth of cash value. That's what I meant. The other one was 6 million 250 or something. So the ratio is a little bit more cash in there in comparison. But it's because you're putting more energy into the system. But are you real upset about that, Lorraine?

Nope.

Is that way more than what you put into it?

Yep, it is.

Okay. Can we confirm that the total cash value.

Matches the total death benefit? 3 million bucks at age 100. 3 million bucks. Are we doing okay?

Yes.

Fantastic. Is that good or good?

It's great.

Okay, that was a lot. I probably should have warned people ahead of time and said, hey, like this is going to get that. Like I hopefully did. I keep that pretty simple, Lorraine. Even though it was a lot of numbers. Yep, you did just kind of walk through it. Okay, great. I'm getting some. I'm seeing some stuff in the chat. Can we. Did we get value out of that, out of that example there, gang? Did that kind of help illuminate? I didn't talk anything about banking. I was only showing the tool. And what's potential compared to, let's say running your. I said, hey, we're not comparing this to any kind of investment. What I am comparing it to is continuing to run all your money through the commercial bank. How hard is that working for you? Right. So forget about the numbers. Just know that if I come out ahead, why on earth wouldn't I do it? And you're already putting the money somewhere anyway. So is this. Give me a why in the chat, if you think this tool might help you implement this process and you might come ahead a little bit better than if you just continue to flow all your money to the commercial bank. Yes or yes?

Yeah, you've got yeses there, Fern.

Fantastic. My only question is, why haven't you started yet?

All right. Awesome. Are we having fun or what?

Don't leave me hanging, Lorraine.

I'm still waiting.

Just kidding. I'm just kidding. You're doing great, by the way. I really appreciate your help.

No problem.

Okay, fantastic. We talked about capitalizing the system we talked about Vern not forgetting to show values. Now once we get to that point where you've got your policy approved, you've now capitalized it, meaning you've paid the premium, whether it's monthly or annually or a combination of both. Whatever works best for you. That's the other thing. You have freedom and flexibility over that. You're going to have what we call a, an onboarding meeting with your coach where you're going to get together and you know, maybe everybody's process might be a little bit different, but I like to review the, some of the pieces of the contract with my clients. I like to help them, I like to show them the values of their policy and how it's growing every day. We make sure that you get yourself set up with if it's the right type of company. We make sure you get yourself set up with your client access. So we actually have a tool that I'm actually going to start to leverage more because I realize that we have some amazing tools that I don't always use.

I'm going to do a new screen share. How do I get started? What do I do? I don't get it. Well, you don't do it by yourself. For one, get a coach. So this is the type of value that ascended Financial offers. We actually want to help people by helping them. And we give you access to a client portal, we give you access to an amazing coach, we give you access to tools and resources to help you continue your learning. And then a guide. This is a 12 step quick start guide. Because guys, if you don't engage with the process, you're going to forget why on earth you're doing it in the first place, right? You use it or you lose it. You use the process, you implement the process, you get used to the process or you'll forget why you're doing it. So set up your policy for online banking, right? You have, you can, you can pay premiums, you can pay loan repayments. Very simple process through online banking. We'll walk you through all that. I'm not going to go too deep into it. Depending on the company that you're working with, you might be able to have access to a client. Access. I don't want to talk about or promote any one specific company. Not all life insurance companies, like human beings are created equally. Some have some really great tools and really great resources for you to use. And some, it's like they're shadow people and you can't get a hold of anybody. It's really Weird, but so right.

Send us. Yeah, this is just talking about. I'm not going to go through all this, but depending on how you're set up, if you're doing monthly premiums, you have to send your banking information in. We talk about protecting your data. There's an Ascended Financial client portal, so you get access to Ascended Financial client portal where there's a bunch of tools and resources and exclusive content that isn't available to other people. We talk about how you have to reduce the friction points, man. You have to find ways. And again, your coach will help you with this, but you're going to develop a rhythm that actually works for you to implement the process. Is it going to take a little bit of work? Is it maybe a little clunky in the beginning? Do you have to get used to it? Yeah, it's not a perfect world, man. You got to get used to the process. But you have to, if you have the desire and you know that the banking system is a problem and debt and all that stuff's a problem, it's worth dealing with a little bit of, you know, just getting your rhythm. Take a couple months or years or whatever to get used to it. Set a reminder. Set a reminder to pay your annual premium. If it's an annual premium, track your premiums. If you're putting premiums into the policy, maybe sporadically, maybe you didn't max out the whole premium like you put the 2,000 in or the 19,000 in, and you're chipping away at the rest of the premium. You know, track the premium so you know how much you put into it. Meet with your coach, get in communication, you know, take your first policy loan. I always encourage people, even if they're trying to build something to save for a specific objective. Let's say I would just take a policy loan just to practice, even if it's only 500 bucks. Go buy groceries on your credit card, take a policy loan and then take and pay off your credit card with it. Is that what you're supposed to do? No, that's just an example. But do something to, to engage with the process so you can go through and get that loan process set up. And you've. Now you see what it was like to take the loan and how quickly it got to your bank account. And then now you get to practice repaying it. You're getting into the swing of it, right? And then you kind of build on top of that when you start to get momentum, keep track of your files. I always tell clients, if you're you know, maybe your statements and whatnot. But if you make a payment to your policy, like, you got to treat this like a business. If you make a payment to your policy from online banking, wouldn't it make sense to maybe take a screenshot and do a print to PDF, create a folder and save that and show that, you know, just so you have it for your own records. Is it possible that when you send a payment to the life insurance company, you know, there's a human being on the other end, right? They might forget to hit enter. We gotta trust but verify. We might have to hold them accountable and say, hey, I made a payment about two weeks ago and I noticed that it hasn't been added to my policy. Or you guys put it into premium instead of the policy loan, or it went to the premium deposit fund, like what's the deal? I sent you instructions telling you how I want it to be applied and here's my payment confirmation from that day. And they go, oh, oops, sorry, our bad. And they cleaned it up and it's no big deal. It doesn't happen very often, but it can happen. So keep a record of things. Don't steal the peas. This is the number one thing. Again, your coach will help you with this. But if you borrow money out of your policy and you use that to do something like pay off a debt or invest money and create cash flow or get a discount on an annual expense or insurance or something like that, isn't it makes that the money's got to go somewhere. You could take that money that you've now saved or the new income you've created and you could spend it.

But that's not a good practice. Just redirect it back to your policy. Don't steal the P's. And you'll know what we mean by that. When you read Nelson's book, page 17, the Grocery Store example, you got to restock the shelves. If you're going to take inventory off the shelves, I. E. Cash capital policy loans, you got to restock the shelves so you can go back and recycle and reuse that money. Again, log into the Ascended Financial membership portal and go through that. So that's kind of a quick look at the Quick Start guide. And again, your coach will help walk you through all this. But you're not left high and dry is what I'm getting at. You're not buying a product and left to figure it out on your own. You're implementing a process and you're going to be coached by somebody who actually understands what they're doing. They're proficient, they've practiced, they have policies. Most of the people who are on our team, a lot of them started as clients. They started by implementing the process themselves and then going, hey, like this really makes sense and I love this stuff and I really want to help other people get the same benefits that I got. Like, how do I join your team? Right? So our team is growing and, and many of our new teammates are, are clients. It's incredible. So we got some time, right? We're going to do a really quick case study because I want to show you guys. Would it be good to see a practical, practical example of how I was able to use this system in my own life? I've used it for many, many things. But this is just one example because now we walk through how to get started and all those things. Well, now you're going to start to apply the process to your life. So I'm going to walk you through an example of how you can apply the process to your life. Quick question, Lorraine.

Is there anybody on the call?

I don't care how much money you make, Is there anybody on the call who would be mad at an extra 600 bucks a month of free cash flow? Would that bother you?

Let's see.

Nope.

Okay, I'm hoping we're getting a lot of no's on that one, right? I don't care how much money you make, you get an extra 600 bucks a month. I mean, you know, it's not nothing, right? I'm going to show you how we use this system to re what we. We don't talk about paying off debt, we talk about recapturing debt. Because he or she who controls the debt controls the wealth. It's that simple. Everything, Lorraine, that you call an asset, the bank calls a.

Liability. Liability because they owe it to you, right? If you have money on deposit at the bank, they, they're like, man, like we owe Rain this money, that's a liability to them. But everything that you call a liability, they call an asset. Asset because it attracts a stream of payments. The real asset is not your home to the bank. They don't want your house, they want you to keep making the payment. It's all about the flow of money. And that's what this process is all about, is controlling the flow of money. So when we talk about recapturing debt, I'm talking about my Ford F150.

That I had a payment schedule on. I paid it off five and a half years early. So I was already planning to make the payment for the next five and a half years. 600 bucks a month, just leaving me the balance I owed on it at the time. About August 20th of 2021, I owed $34,380 on the, on the vehicle. And I had it for two and a half years up to that point. So I've been paying $299.37 bi weekly for two and a half years. And God, it was painful, man. But I was building my system that entire time because I didn't have the capital in my system to finance the vehicle when I bought it in 2019. I still have that vehicle today and I own it outright. I'm controlling the payments because my payment was about 600 bucks a month. And I borrowed the money out of my policy and I chose to repay the loan at 700 bucks a month. Yeah, I made a bigger payment because if I can go back and access every payment that I. Every penny that I pay back to the system as a loan, would you ever object to paying back more to it? Right. I'm just saving more money in my policy so I can go back and re access more later down the road. So what I decided to do was create a schedule. 700amonth for 60 months, which equals 42,000 bucks. So I borrowed out 34,380 or whatever it was, and I'm paying back 42,000. I'm flowing more energy back to the system. And by flowing more energy back to the system, I'm improving my policy system. But I'm also helping to increase the profitability of the life insurance company that I co own and they're legally bound to share profit with me. Pretty good deal, right? And you're making the payment anyway. You see, we're not doing anything much different than what you're already doing today. We're just changing the process. That's it. So I'm paying extra interest, if you will, back to my policy, and if I can't, if I repay the loan faster. Do you remember that policy design that I showed you earlier? What if I have a policy where. Let's just use 50,000 as a simple number. Let's say I paid $50,000 into, or I have a policy that can hold 50,000, but maybe I only paid 35 or $40,000 worth of premium? Couldn't I then take some of those extra payments or a portion of my loan payment and flow it back to the policy as the in the form of premium and make the System work harder. I absolutely could do that. Now you can get some good guidance from your coach, but that's your decision to make policy loans. This is also a common misconception because they read it in Nelson's book and he talks about exactly this. Putting back, putting back extra interest as premium to make the system grow. So people say to us, sometimes they go, hey, when you pay interest into the policy, that helps grow it, right? Well, if it's a loan repayment, you're just replacing the cans of peas on the shelf. You're just being a responsible banker and keeping your system strong, okay? To grow the system and make it work harder is ultimately paying premium. So if you want the system to work harder, pay more premium. Not the paying loans is back or bad. So the interest, I just said that right there. Extra interest could fund more premium. Looking at page 58 of Nelson's book. So here's the real key that I might not have emphasized as much earlier. It's that your behavior, you're in the driver's seat, your behavior is going to directly impact the growth of your system, the banking system or your banking business more than anything the life insurance company is ever going to do. If you put more premium into the policy and it buys a chunk of paid up additions, they respond to your behavior. They go, oh my gosh, we were putting 10 or 20 or 30 bucks a day into Vern's policy and he just paid more premium and bought more paid up insurance. And now we have a bigger target that we have to hit. We have to increase the growth of the policy to stay on schedule.

It's a simple decision. You're one decision away because your money, your capital is already flowing. It's already flowing, but it's all about where, where is the money flowing to.

It's all about desire. This is one of my favorite excerpts, is that what they call it? From Nelson's book? And I have to be careful because I can feel that I'm getting emotional. That's just the truth, man. Remember, he said this was about emotional imagination, reason, logic and prophecy. We are talking about some really deep and really important stuff. I know every one of my teammates would agree. I truly believe that I am here for a reason. This is not an accident. And if you knew more about all of our stories and my own story of how I got to where I'm at, you just have to believe that, man. Like there's, there's more to this thing than one, than what we can see. It's incredible. So I'm going to share my screen with you here. I'm just trying to find the right spot. Bear with me.

Okay, well, I'm already sharing my screen. You know what I mean? I'm going to share a new screen.

Right here.

There's so many things. You know what's funny is I highlight the book and I gotta stop highlighting the book because it's like, I go, the more I read it, the more highlights I put in. And I'm like, by the time. By the time it's all said and done, I'm literally gonna have the entire book highlighted. Right? So what's the point of highlighting things? I don't know what those white boxes are. That's kind of weird. But it says, assuming that by now you are sufficiently convinced that this is the course of action that you would like to take, the question becomes, how do I get started? Now, we talked about that already, but I like what Nelson says even better. He says, the most important word that comes to my mind is desire. Because without it, you probably can't do it. That is so important. Is there a high likelihood that life is going to happen and you're going to run into a problem and things are going to get a little bit hard? Well, you have to evaluate what matters to you. It's easy to implement a process when everything's running all smooth. It doesn't matter if you're doing diet or exercise or, you know, you're just trying to quit smoking or change some other behavior, whatever it might be. When you're empowered and feeling good and your energy's high, it's easy, baby. Your results in life are determined by how you behave when you're at your worst. That's what it's all about. When you do what is difficult in life, life will become easier. But if you do what's easy, life will become harder. That is just the truth, man. Okay, so desire. Where did I go? Where was I? Without it, you probably can't do it. Remember Parkinson's Law from part two? Now, we didn't talk about Parkinson's Law, but really quickly defining Parkinson's Law. Now think about this for a second. It can be defined as a luxury once enjoyed becomes a necessity. When's the last time you bought a new vehicle without any air conditioning? You probably have leather and heated seats and a heated steering wheel. Now, all that fancy stuff. And you're not going to buy another vehicle without those things, are you? Because it's a necessity now, right? That's how it works. That's how they get you. You could think about Parkinson's Law as work will expand to the time envelope allotted. Which is exactly why I finished these slides an hour before the webinar. I had some other stuff I was up against. Okay, not to make excuses, but that's actually true. Or have you ever heard this one? The more you make, more you spend. The more you make, the more you spend. Well, that is what we call a relative truth. It is not an absolute truth. That all comes down to your desire and your behavior. That's Parkinson's Law. Your expenses will rise to match your income. You got to whip Parkinson's Law, as Nelson would say. So he says, remember Parkinson's Law from part two. Everyone is already spending all financial resources that he thinks is best. There has got to be some honest introspection at this point. And a commitment to getting out of financial prison must be a burning passion. And I can promise you, man, it is a burning passion in my world is that that is powerful, man. That is powerful stuff.

Doesn't say anything about numbers or values or insurance or any of that stuff in there. It's all about desire. It's all about what matters to you. So Parkinson's Law, $700 payment.

Now, remember I said that the policies are going to grow every single day. Now I have policies that all grow at various rates or daily growth. It all depends on how much premium I've been put I put in how long I've been doing that for. There's factors that go into it. But this particular policy that I was chose to flow the money to because, you know, we all do it differently. I flow money to certain policies for certain reasons. I'm flowing this money to a specific policy and I probably have to update this because I think the daily growth is now greater than 13 bucks a day. But it doesn't really matter because it'll still illustrate the point that I'm trying to make here. Now, you'll notice that it says $13 a day of growth. Or what I mean by growth is PL policy loan availability. So I'm literally looking. I have zero dollars today. Tomorrow I have 13 bucks. The next day I have 26 bucks and so on and so forth. Right? 39 and so on. The loan availability is going to go up every day. If it's 500, it'd be 513 and so on, every day, every day thereafter. Right? Now, when I say net of interest, you're all smart people. We just said that we co own the life insurance company, but the life insurance company has A commitment. They have a duty of care to put money to work in order to grow profit to share with us. So I always ask my clients, I go look, is it reasonable that they would charge us some interest if they lend us money because we're borrowing their money while our cash stays in the system and grows every day? Oh boo hoo, they charge us a little bit of interest, right? But if I found out that they were lending all of you interest or loans rather without charging you interest, I'm going to be real pod. Because they have a duty of care to grow profit which I want them to share with me. So if I'm going to either pay interest or lose interest, why wouldn't I, why would I object to paying interest to a company that I co own? My behavior is helping make them more profitable and thus they're going to share that profit with me like a no brainer. And not to mention every penny that I pay back to my policy, including the interest, I get to go back and use it again anyway because I'm the banker and the bank owner. So all these people out there that are talking about interest rates, oh, but what's the interest on the policy loan? Dude, you're getting the money back, you're paying it back to your own system, you get to use it again. Why do you care about the interest rate? Who cares, right? It's all good. Now when I say net of interest, I'm not going to go into depth in this. I don't want to confuse you guys, but basically what they do, they don't interrupt the cash value growth. But my loan balance and the interest that that's charged on that loan is going to impact how much cash I can access on a daily basis. So for example, this policy actually grows every day closer to like 20 bucks a day or something like that. But I've got interest cost of like five or six or seven dollars a day. So they just withhold that interest cost and they give me access to the net amount. But my net, as long as my net, my policy is efficient. If my net access to cash is net positive of the interest, even if my interest was 13 bucks a day and my available cash was 7 bucks a day, I'm still net positive $7. So that's why a lot of these people out there who are structuring policies where the base premium is super low and you could put a zillion dollars in the policy and get access to all that money right away, they're going to have some really disappointed clients and not know how to explain it. When they realize that their loan interest rate is outgrowing, outweighing the growth on the policy and their loan availability is going backwards, it's not good. You have to structure the policy so it's strong and it's efficient so that it's net positive. So you're always creating a perpetual tailwind. And so what do I mean by that? Is cash values or my loan availability is growing every day by 13 bucks a day. Multiply that by the average month, 30, 30 days, that's $390 a month whether I pay back the loan or not that I have access to. So what am I doing? I'm paying 700amonth to the policy, loan cash values or my loan availability is growing by 390amonth. That means every time I pay 900 to the system or 700 to the system, I can go back and access almost 1100. Do you remember that image that I showed you earlier? You pay interest, you lose interest or you earn interest. You either have a tailwind or a headwind. Neutral or tailwind. Does that right there, Lorraine, does that look like a tailwind?

Sure does.

Absolutely. Are you with me, folks? Where can you put 700 bucks monthly and go back and access 1100? Is that a tailwind? When I say tailwind, are you picking up what I'm laying down? Why? For yes.

Yep, they are fantastic. Now let me ask you a funny question. Is there anything stupid about a setting your financial affairs up this way? N for no.

Nope.

Fantastic. Awesome. There it is right there.

Now you could see by changing the process.

Look out, Edmonton. I'm going to be at the West Edmonton mall much faster now because I have a tailwind. My ground speed's 100 miles an hour, but that interest that I used to pay to other people is now flowing back to me and my family and help propelling us further, faster without doing any extra work or taking any additional risk. Is that good or good? That's recapturing or earning interest?

Look at I did it again. You know why Lorraine? Is because I duplicated the slide and then I put it at the back of the presentation. So again folks, if you're looking at this in the chat, hopefully on YouTube live stream and in our webinar here, we'll put the right phone number. Vern has taken too many head shots and I got the area code wrong. It should be 8, 780, not 7 08. So it's 780-809-4599. And my teammates will Put that in the chat. And what I'll do for now is I'll leave that up for a moment. But maybe what I can do is invite my teammates.

Or whoever wants to join the call. And I have eight minutes, nine minutes after eight. Mountain time, I think we have scheduled to 8:30. So we've got a little bit of extra time.

Should we get some questions or what?

Yeah, there's one here in the chat in the question box. Vernon.

In the, in the Q and A.

In the Q and A. Yeah.

Hi.

Is it possible to finish paying like 10 years before your projected date?

I don't know what that means. Like the loan?

Yeah. Emmanuel, if you can just clarify your question, that would be great.

Emmanuel, just go in the chat if you want. When you say paying it back, what, what, what did you mean by that? Or could you pay it in 10 years? Was that. Are you referring to the loan? The premium.

The premiums.

Vern, you. You regret. Okay, the premiums, yeah. I mean projected date, as in age 100.

Well, look, let me keep it simple, Lorraine. Again, a coach will give you some good guidance on this. But yes, it is possible to reduce or what's called an offset. You could potentially reduce or offset your premium at a certain date in the future if that was what was in your best interest. But you absolutely could do that. In my mind I go, look, if I'm going to put a dollar in and I can get two or three or four dollars out, I would never stop putting a dollar in. But just so that you're clear, yeah, you do have that option to do that. And we can talk to you more about that when we get connected.

Is everyone, everyone being shy or what? Where's our team?

Hey, Warren, how's it going?

I'm doing good, Sarbo. How are you?

Doing well, man, congratulations. Amazing webinar. Get great feedback, great content, simple to follow along, great value add. Thank you for doing this.

There is one question that has come up a few times and I think for the benefit of everybody attending, folks who are still with us, we should address the question. The question is, you know, what if the insurance company goes financially under, goes bankrupt, what happens to the policy?

Okay, do you want the short answer or the long answer?

Let's get the right answer. Okay. Well, Will Cerblo, I started out, you know, by talking about.

We gotta think, right? So let's first ask this question. And I know we're permanent, we're not going to get an answer back. But forget about the life company for one second. Do you Ask yourself this question. Do you presently feel really confident about where your capital is being stored today?

Okay, so think about that. Now there's a couple things that will happen if the life insurance company. And there it's a big f. If, if the life insurance company became insolvent, they actually are basically they're going to bring in independent consultants and try to call coach them back to solvency, right? They have to put cash aside for reserves. They have to put money aside so that they can pay claims and all that. And if they're not meeting their minimum capital surplus reserve requirements, then they'll bring people in to help coach them back to solvency. If they can't get them back to solvency, then they may be forced to sell. Now a company can buy a life insurance company but they have to honor the existing contracts on the books in order to do that. Good so far. Now if. Are you guys familiar with something called the cdic?

Now I'm not going to beat up on this too much Sarblo, so I don't want to make you nervous. The CDIC is something called Here, I'm going to share my screen again because I, I got the Googles going here.

Canada Deposit Insurance Corporation, okay? And you can see right here it says that they are a federal crown corporation implemented by parliament in 1967 and they will insure Canadian bank accounts in case the bank account, a bank fails by up to $100,000. Now my friend Henry and my colleague Henry has done some amazing work on the actual statistics and what type of cash the CDIC actually has available. But you just have to ask yourself this question. I'm not saying it's good, bad, right or wrong. I'm just saying who, where is the government getting their money from?

From you. And so if Canadian banks are not doing real well.

What is the odds that the government is going to have that money that they need to secure those accounts? I have no idea, but it's something to think about. Now I just want to share this resource with people. You can look into this a little bit if you want. Every Canadian life insurance company has to be a member of what's called assurance. And it says right here, it says protecting your life in health insurance. Says assurance is a not for profit organization that protects Canadian policyholders. This should be capitalized, Sarblo, if their life insurance or life and health insurance company fails, and this might not mean a lot to you right now, depending on how much you know about the policies, but it actually tells you right here, what will they Actually protect. Now assurance doesn't. They don't knock on assurances door very often because life insurance companies are among the most financially solvent businesses in the world. But this is kind of like an insurance policy, if you will, for your insurance policy. And all the other insurance companies are grouped together to fund assure so they can protect your policy. They'll protect up to a million dollars of your death benefit or, or 90%, whichever is higher. Whichever is higher. Right. Or they'll protect 100% of your cash values up to a hundred thousand bucks or 90%, whichever is higher. So when you looked at that fancy illustration that I showed you earlier, if in the 50th year or 30th year or whatever, the life insurance company became insolvent, I'm not too worried about it because I have a sharers behind me.

And that's really good, Warren. And you know, if you just go back to the most recent financial crisis in 2008 and we don't have to go any further back, you know, think about how many, how many banks in, in, in North America failed. Just think about that and how that created a stress and anxiety and lack of confidence for people, especially those who are in retirement more already right now. The other question think about is how many insurance companies are you aware of which failed in the 2008 financial crisis? Can you name one? Anybody.

Must be doing something right, must be doing something right.

So, and then Warren just spoke to assurance for insurance. So your money has to sit somewhere. And if you can store your money inside an entity which you own, you control and the value of the entity in terms of capital value can never be less than what it is today. It can only grow and it can only grow tax free. And you have full access to that capital when an opportunity comes, strikes you and you have additional protections protecting the organization. How much of a capital you don't want residing in an entity like that money has to sit somewhere before the money is spent. We're not talking about changing financial goal, changing cash flow, taking on any risk or losing control over access to money. We are here educating on change the process of how you're going to go about buying the things that you need to buy, which includes so many things that you already are doing.

So amazing.

Thank you. One, that question came up many times, so it was good to have that address for the benefit of everybody who's still here and was going to be there on the YouTubes too.

So yeah, fantastic. No, that was awesome. And you took the words right out of my mouth. Too. So I blowed my head from that financial crisis. That was awesome. Thanks for adding that. I see a question, Lorraine, that you're looks like you're responding to there from Dan.

Oh, sorry, I just marked it to say to you.

Oh, no, that's okay. That's okay. So do you want to read the question for me, Lorraine?

So, Vern, what's the key points to consider regarding the system if you're starting at age 60?

Great question. So the first thing that I would ask someone who's 60 as an example is I would say.

Between now and your graduation date, everybody has a best before date. Are you ever going to stop having the need for the use of money in banking?

No.

Right. So you need the use of the banking process and you have the need for the use of money. You know, I would be, I would be thinking about, you know, many things, but that's the first thing. As long as you recognize that fundamental truth and then it just comes down to your objectives and again, all those other things. How are you structured financially? You know, what do you want to do for your family? You got to be thinking, Dan. You know, think about the next generation. Think about, I don't know if you're married or if you have kids or there's grandkids or that's potential. But I'm already thinking about my unborn grandkids and great grandkids, hence why I have policies on my kids. So those are, those are some places that I would start. But the key is that you're going to have the need for the use of money in banking for the rest of your days. And what's that age old saying, Dan? The best time to plant a seed or plant this tree was 20 years ago. And the next best time is today. Right? So 780-809-4599.

Yeah. I would encourage everybody to schedule an introductory complimentary discussion on how this can work for you, your family, your business, all you to good. All you have to do. Just text the word schedule to 780-809-4599. Don't bring any money in because there's nothing about buying anything in. It's just understanding how we can add value to what you want to get accomplished using the process of becoming a banker. Go through a process, see how this can work for you so that you can make an intelligent decision whether you want to actually do this. We haven't had one client call us back saying, guys, I'm really ticked off that my cash values just keep growing every single day. It really bothers me.

Haven't received one phone call.

Yeah, yeah, it's like, oh, more cash today. What's up with that?

If you have more questions, then let's get some questions. But I, I want to ask Warren some, some questions too. Warren, you've been, you've implemented this process for your family and your business and personally. And you've done this for several, several years. You're an amazing IBC culture and team. Blessed to have you as, as my colleague, as my friend. Now, if you can go back in time.

To when you discovered the process, to when you started implementing the process, if you can change one thing regarding that step so that you're way ahead with this process today, what would that one thing be?

Oh man, you asked one. And I'm going to pull a roman here because I got to give you two. Okay, sounds good. Well, the first, I work. I would have worked a lot harder to try and get a coach.

I, I couldn't find anybody to help me. I was trying to figure it out on my own and I would have just worked a lot harder to find a good coach. And the second thing is I would have just got started and stopped trying to figure out how to get it right. I would have just got started.

And 2A. I would have put a lot more premium into my kids policies that I did start.

But yeah, I would have just got started, man. That's, that's the key is, you know, I was spending too much time trying to figure things out and try to get it right. I just, I just have to get after it and get started.

Exactly. And one of the questions that we get asked and, and maybe this has come up for the attendees too. Seems like you need a lot of capital to do this right. You don't need a lot of capital to become your own banker. You need to start to become, to, to work towards becoming a banker so that you can keep a lot of your capital in your family going forward. That's why you need to start.

I couldn't have said it better myself. Sorry. That's why everything begins with the way that you think. Because that's just changed the way that you think. You need a lot of capital to get started. No, you need to get started so that you have a lot more capital. And I mean, like I said, I mean, I showed that example earlier. You don't need a lot to get started. We have clients that put as little as 100 bucks a month and we have people that put well over a hundred thousand dollars a Month and beyond. So you're somewhere between those numbers. We can help you get started.

I see some questions coming through here. Anything for anything else from the team?

No, nothing. Top line.

I got one. Go for it.

Yeah, sorry. Yeah, so I got one. So thank you. For everyone that's been throwing in questions in the Q and A, your questions have been awesome and we've answered all of them that have come through, so thank you. So I'll talk about one question that's come in here from Fardin.

As you pay back your policy loan, that amount becomes available to you right away. Question mark. Or are you only able to make a new policy loan request once you've paid the initial withdrawal back?

Great question.

Hey, Turon, can you do me a favor? Is my screen clear enough? Could you just read that title for me?

Becoming your own banker, keywords being your own, right? Yes, sir.

So who's the one who's going to set the terms on whether or not you can access another loan before you paid back your original first loan? Is that going to be the life company or the owner?

The owner.

Yeah. So great, great question. But when we talk about total and absolute control, that's what we mean. So you can go back and access another policy loan as you're paying back the first original one? Absolutely. Well, hold on. As long as there's. It depends on the company, but as long as there's at least a minimum of $500 to borrow, you can go back and access another loan.

That's right. That's right. And regardless whether you have a loan outstanding or not, you can, you can access a loan as long as you meet that minimum threshold of 500.

There. You got it.

Yeah.

Yeah. You know, the only, the only dumb question is the one that doesn't get asked. Right. So if you're hanging on to a question, don't be shy. I do see one here, though. It's a kind of a simple one, but it's a really good question, Tehran, that you're looks like you're answering back to. Is there anyone this is not meant for?

And so I'm sure my teammates have a lot of great things to say about this. I would start by saying.

In my opinion, there isn't necessarily anyone that this process can't help. You know, like I mentioned earlier, because everybody needs the process of, you know, they need money and banking in their life. But is there anyone that this is not for? Absolutely. And that would be people who, maybe, being totally honest, don't really give a crap about much. Right? That's just true. If you don't have a reason why you're up to things in life, then yeah, probably not a great fit. If you're, if you, if you're not coachable, like if you've already got it all figured out and you can't learn anything else, probably not a great fit for you. If you are spending more than you're making.

Probably not a great fit for you. You don't need a lot of money to get started, but you have to have some, right? If you, you know, none of us are perfect. Like I fall off the horse sometimes, even when it comes to my banking system, when it comes to my health and my fitness, all those things. But you got to get right back on it, right? My point to that is if you, if you just have zero discipline, if you don't have the discipline to, to implement the process and set up some structures and whatnot, those are the types of people who are probably not going to fare real well with the process.

Yeah, great. Great, Warren. And one more I'll add to add to that is if you think this is a magic pill, it's not going to work for you either. This process requires patience. It's a way of living. It's a lifestyle.

Yeah, great point, man. Great point. Absolutely.

Awesome. Any other comments from the team or any other, any other questions?

Oh, we're just going to get some feedback from the attendees. Warren, you did such a fantastic job. Can we give Warren some love? Can we just show him some love, guys? Just some hearts in the chat. Just appreciate because it takes time to put this all together. It takes time to even think about how to present the message, simplify the message. That's the biggest thing. And Vern did such a fantastic job. Let's give Warren a lot of love for his time, effort, dedication in getting this happen for, for the team and for attendees. This is fantastic. One of the things that Jason always says is, so Jason, who's the founder of SNE Financial, he says you can do this today or you can delay doing this. And then if you delay doing this, think about.

What'S the impact of delaying the process which is going to help you recapture the interest?

What's the impact, what's the impact of delaying a process which only grows your wealth tax free and you can access this tax free.

What's the cost of delaying a process which helps create uninterrupted compounding now till the end of time? What's the impact of delaying a process which creates family protection today? So think about all those impacts before you make a decision.

So text the word schedule to 780-809-4599 and let's start the discussion. Go through a process. As Warren talked about what our processes. Go through a process, see if it's a fit. Because we also going to see if it's a fit. We are not here to sell, we're here to buy. We, we're buying into a relationship. We want to add value. That's the mission that we are on. Once you go through the process, then you can decide for yourself if this is something you want to do.

Awesome.

And let's, let's throw some Google links too. Hey Neil, you got access to those Google links?

You bet. Coming up.

Perfect. Do you want to walk everybody through what to do with the Google links, Neil?

Yeah, sure. If you're talking reviews. Is that what you're talking about?

Yeah. Well, Uncle, Google really helps us, you know, expand and, and get this message shared with other Canadians and Americans out there. So, so what Neil has shared in the chat is just, just links to different locations, different cities and Google really likes locations. So if I may ask everybody to please click on the location closest to you and just leave a feedback on what your experience has been and leave a star. Right? And we read everything that shows up on Google. And by the way, one only takes five stars.

We read everything what people leaves on Google because we want to see what we're doing well and we also want to see what we can do better. So please click on those locations. Take some time. Right now, put something in there. Your experience, your aha moments, your key teaching points that you've taken away. And then Vern likes five stars, Laverne likes five stars.

So hey, speaking of which, I know we're right at the end here guys, but we've got a couple more good questions and so we're gonna, gonna try and earn some more of those stars.

Oh, I missed, I lost one of them there. But there was, there was one.

Colin, I think he's asking about, very intuitive. He's asking about a mutual insurance company. He's basically just asking. And by the way, when we talk about becoming a true co owner in the life insurance company, that's what we're referring to is what's called a mutually owned life insurance company means it's mutually owned by the participating policyholders. And his question was, if they decide to demutualize and become a stock company or publicly traded company, do they honor the existing contracts? And the answer is absolutely yes. They. They have to honor the existing contracts, and you will also have an option to actually receive some stock. It's kind of like taking a company going public. Right? And you're, you're a part of. Of that whole process. But the participating policyholders get an opportunity to vote on demutualization. And I implore you.

If that ever becomes an option, please vote to not. Not to demutualize. That's just my humble opinion. Go ahead, Sherwin.

You're just mute. Oh, there you go.

Yes.

Yes. Baron. Yeah, I just. Did you purposely have your hand raised there?

No. Oh, okay. No worries. Yeah, I thought your hand was raised. That's all. No worries. It's okay.

I see a couple people saying, you know, great stuff. Can't see why anybody wouldn't do this. Why is this not for everyone? So we kind of answered that already. That's good. There was another question that was in there that disappeared, and I was going to address it because it was a good one, but I can't remember what the question was.

It's all good. Awesome. Do we have. Oh, that's it. So, Turan, you answered it. And I think I just want to address this. There was somebody who asked Francisco asked if what? What if somebody has a disability? And I would just say, yeah, you know, you got to talk to a coach. We're not underwriters. I would say that it's worth it to have a conversation because the life insurance underwriters are really good at what they do. And if we share some specific details with them, then they'll let us know whether or not they could still approve you or not. And again, like I said, worst case scenario, you don't necessarily have to be the life insured. So if, unfortunately, if you're not able to get a policy approved, then you could always look at potentially putting a policy on somebody else's life. Awesome.

So one, one quick thing before we went here. Maybe we can just do a panelist roundtable. Just one thing. So the question that we can answer with one thing is. So Warren, or maybe I won't stop with Ron. I will say one till. For the end. Maybe I'll start with Sherwin. Hey, Sherwin. Question is simple. You should become your own banker because what comes up for you quickly.

Because.

You want to take control of the banking function and stop getting taken advantage of by the actual commercial banks. Perfect.

John. You should become your own banker because.

It'S just makes you feel better, at peace, the peace of mind of it. It's amazing.

Perfect. Thank You, Kwan, you should become your own banker because it gives you freedom and control.

Perfect.

Thank you, Neil. You should become your banker because you've got contractual guarantees. Love that. Taran. You should become your banker because.

Because it's one of the only ways to have a bigger and better future.

All right. Thank you, Lorraine. You should become your own banker because.

I want to leave a legacy for my family.

Perfect. Ron, before I come to you, I just want to share some of the notes that people have put in. Colin says, become your banker because it gives you hope. Sherry says you should become your own banker because you want to quick, easy, no questions. To access your own capital for investments. And Stefan says you should become your banker to begin a legacy for my family. That's amazing. Thank you, Vern.

That's awesome.

You should become your own banker because.

Well, you know, it's the first thing that came to my mind, and I'm going to piggyback off what you said, Lorraine, is simply because I love my family.

It's amazing.

Calvin, too. He's saying, become your banker because becoming your banker just makes sense.

Yeah. Said it best. It just makes sense. That's perfect.

You should become your banker because it's.

How the real system works.

Generational wealth creation.

Yeah.

And.

It'S because I want to save for retirement. And Kitty says generational wealth. So thank you guys for participating. This has been really, really good. You should become your banker because it is such a beautiful thing to do. Sorry. One. Go ahead.

No, no worries. That's great. It just keeps coming. Thank you guys for sticking around. It's amazing, but somebody was asking also, you know, is this possible international in the US Or Canada? And the answer is yes. So reach out to us if you're in the U.S. we'll get you connected with somebody that can serve you. We. What does Jason always joke about? We took the big eraser and erased the border, so we're serving people all across North America. So just reach out to us and we'll happily connect you. That was amazing. Are we doing a debrief that's never in the calendar Debrief. Awesome. Okay, we'll see you guys on it. This was incredible. Thank you, guys for the feedback. I'm truly humbled by it. I literally had to fight back tears, like, four times. So I appreciate you guys so much. Thanks for sticking around. Glad everybody got a ton of value and can't wait to see you on the next one. Okay, team, we'll see you in a few.