How To Manage Your Money Like The 1% In Canada (Everyone Gets Your $$$ Before YOU)

Your employer directly deposits your income into someone else's bank. I say that again. Your employer directly deposits your income into someone else's bank.

And if you're earning income from other sources other than T4 income, maybe it's interest income, dividend income, maybe you've got rental income. Where are you storing that capital? Here's the problem. You're doing all the work and everyone else is getting all of your damn money. That's the problem. And you're going to need the use of money for the rest of your lifetime. There's no avoiding that. And whatever that medium of exchange is, if it's dollars, if it's cryptocurrency, if it's a combination of both, you're going to need the use of money for the rest of your lifetime. And someone and some organization must control a pool of money that has to flow at a cost to meet some need. How much of that flow do you own and control? Money in the bank is dead money.

Wall street wants your money. Bay street wants your money. The mutual fund companies want your money. And they want it so that they can gain control over the motion of it, so that they can create leverage so they can lend more and have more money flowing back to them.

If I was able to take you back to.

July of 2008, and in July of that year, I was first introduced to this process which we now know is becoming your own banker, the infinite banking concept. And I was introduced to this process attending an event in the United States.

And one of the questions that came up for me and for one other Canadian who was present at this event was, does this work in Canada? And the response in the room at that time was, we're not sure. You're the only two Canadians that are here at this event. And so we captured pages upon pages upon pages of notes with questions and trust but verify takeaways from the event. And when we came back to Canada, we immediately began to meet with the life insurance companies here in the country. And we quickly discovered that this process would work just fine in Canada. In fact, there were some elements of the process that would work even better here in Canada. And so we began to implement that process personally in our lives and fast forward all the way to today. We're very privileged to be able to serve Canadians coast to coast with the process of becoming your own banker, the infinite banking concept. We educate thousands of people each and every year. The first time I had ever been exposed to money as a toddler was being in the room while my parents were fighting about it. And I grew up in the early 1980s. So I was born in 74. And when I was conceptual enough to understand what was happening in conversation with my parents, I remember them arguing about money all the time. And you may recall interest rates skyrocketing in the early 1980s where interest rates peaked at 21.5%. That's if you were a prime company customer. And I haven't met anybody who's prime. It's always prime plus. And my parents stood to lose their home and everything that they worked so hard for. Now we're experiencing a period of rapid inflation in this country today. And the bubble heads in Ottawa are trying to convince you that it's only temporary. And they're trying to convince you that it's all Covid related. And what nobody's talking to you about, to any level of detail is all of the money that's being printed by the Central bank of Canada, by the Federal Reserve, by central banks around the world who, I can only speak for Canada confidently, that we're printing money like a bunch of drunken sailors and nobody's focused or worried about how the bill is going to be paid. There's only one way that bill is going to be paid and it's going to be paid through taxation. It's going to be paid through inflation, which is a tax on everybody. And particularly the middle class is going to get beat up the most through this inflation. But what I want you to know is that during that period of inflation back in the early 1980s when I was just a toddler, the developer and pioneer of the process of becoming your own banker, the late R. Nelson Nash, who, who wrote the book titled Becoming youg Own Banker, he found himself in a very bad situation. He owed more than a half a million dollars at interest rates greater than 21.5% on investment real estate that he had acquired leading up to that period of hyperinflation. Now people were sitting down and talking to him saying, Nelson, why don't you just sell the real estate? And he thought to himself, what fool is going to buy this real estate from me when they have to borrow money to buy it at such high rates of interest?

He had two choices. He could succumb to what was going on, throw in the towel, file an assignment in bankruptcy and move on with his life. One of his joint venture partners in real estate decided to do that. Nelson chose a different path. He decided to work his way through it. He just didn't know what the solution to the problem was. Yet what he didn't realize is that the solution to the problem was staring him right in the face. He had already amassed a system of dividend paying, participating whole life insurance policies. He was able to borrow against the accumulating value in those policies at 6 to 8% from the life insurance companies and get rid of the snakes and dragons that wanted more than 21.5%. He decided in that moment that he was going to see this through. And it took him 13 years to get rid of the snakes and dragons. He did not file an assignment in bankruptcy. He got rid of all the commercial banks. And since that time, all the way up to his passing In March of 2019, him and his wife Mary did not see a commercial bank for anything other than the convenience of debit. Now, I had the pleasure of being introduced to Nelson at the annual Infinite Banking Think Tank Conference in February of 2011. And I'll never forget that moment. I'll never forget meeting him. It was an instant connection. I was blessed beyond the definition of good fortune to be mentored by Nelson all the way up to his passing. And still to this day, I still reflect on everything that he taught me. I still learned something new through this process day in and day out, because I'll never forget something that Nelson coached me on very early in our relationship. He said, jason, I want you to remember that there's no such thing as having arrived in knowledge. There's always something new to learn. And the moment that you feel like you've arrived, meaning you feel like there's nothing new for you to learn, you've already learned everything there is to know, you're no longer receiving inspiration to learn new things. I promise you it's all downhill from there. And I'll never forget Nelson sharing those words with me. And that's why my antenna is always on, my radar is always on. And I never lose the inspiration to learn something new. So we're going to teach you something new this evening, and we're going to have a lot of fun doing it. And what I would say to all of you is that as you see the numbers that we share this evening, you're going to be bombarded with numbers. I'm just preempting you now. We have a lot of math, we have a lot of case study numbers that you're going to see. What I want you to remind yourself to be focused on is that this is a process. Becoming your own banker is a process. The infinite banking concept for Canadians is a process. It's not a Product. We're going to talk about the tool that we use to implement the process, but we want to focus on taking control of this function of banking as it relates to your needs. Now, one of the things that I want to begin with is I want to ask all of you.

What do you think is one primary strength of a bank? What are they particularly good at? One thing that banks are incredibly good at is getting money to flow to them. Now, how does that money flow to the bank? Well, your employer directly deposits your income into someone else's bank. I say that again. Your employer directly deposits your income into someone else's bank.

And if you're earning income from other sources other than T4 income, maybe it's interest income, dividend income, maybe you've got rental income. Where are you storing that capital?

Well, you've got to deposit it onto the books of someone else's bank, and then it no longer is your money. You just become an unsecured creditor of the bank. The bank cannot let money sit still and they can't lend anything without taking deposits. So your deposits are what enable the bank to lend. And when the bank lends money, they lend money with an expectation of profit, and they make a lot of profit. And then when you need access to your money that was directly deposited there, they levy a fee for you to do that. Welcome to the world.

Banks are remarkably good at leverage, so they're able to, by way of taking deposits, they're able to create money where no money existed before, lend it into existence and have real money show up so they can repeat the cycle all over again.

If you understand the problem which I'm going to define.

The solution will matter to you. If you do not understand the problem, the solution will not matter to you. Here's the problem. You're doing all the work and everyone else is getting all of your damn money. That's the problem.

While you have a checking account balance, you have a savings account balance, you have a mutual fund account balance or registered retirement savings plan account balance, you've got a variety of accounts, and you log into this thing, a computer or your mobile phone, and you can see these account values. My question to you is, who's actually got the money? Who's controlling the motion of that money? Who's controlling the use and liquidity of that money? Who's creating leverage?

It's the banks. And the banks are responsive to the stockholders of the bank. And the stockholders have an expectation of profit, and that profit is distributed to the stockholders of the bank in the form of dividends.

Now, if you can change where your money resides and you can actually become the co owner of of the lender. And I'm not talking about a commercial bank, I'm talking about a life insurance company.

And you can co own this entity. The most financially solvent institutions on planet earth are life insurance companies.

And you become a co owner of this entity, you accumulate capital.

It grows on a contractually guaranteed basis every single day, regardless of COVID regardless of inflation, regardless of what's going on in the economy, regardless of what's going on in a temperamental stock market.

Your aquarium of capital grows day in, day out like clockwork. You get to borrow against that accumulating value to finance all the things that you need throughout your lifetime. And you get to solve the problem. You get to take control of the banking function as it relates to your needs in your family and in your business. And you're going to need the use of money for the rest of your lifetime. There's no avoiding that. And whatever that medium of exchange is, if it's dollars, if it's cryptocurrency, if it's a combination of both.

You'Re going to need the use of money for the rest of your lifetime. And someone and some organization must control a pool of money that has to flow at a cost to meet some need. How much of that flow do you own and control? Isn't it true in your circumstance today, isn't it true that presently all of your money is flowing through the books of someone else's bank?

Money in the bank is dead money.

Wall street wants your money. Bay street wants your money. The mutual fund companies want your money. And they want it so that they can gain control over the motion of it. So that they can create leverage, so they can lend more and have more money flowing back to them. Let's change the flow. Let's get that capital flowing back to your family, flowing back to your business. We want you to create abundance in your family and in your business. And we're going to demonstrate to you how to set about doing that. The first thing that you need to do is not be afraid to capitalize. Your money has to reside somewhere. In order for you to begin implementing this process in your life, you have to build your warehouse of wealth. And that warehouse is a policy or a system of policies. These policies are dividend paying participating whole life insurance contracts. And those contracts require capital. And that capital requires is deposited in the form of premium. And when you deposit premium, you immediately begin accumulating cash value. And that cash value is going to rise daily, uninterrupted. Now, what I want to show you is I want to show you one of my own policies. Now, we started in our family banking system.

Hope you like that shirt. We started with one policy in our system.

We now have 62 policies in our family banking system because we're not afraid to capitalize.

And one of the earlier policies in our system is one that I want to show you tonight. I want to walk you through the importance of capitalizing and recognizing the significance of, of creating financial energy in your own system of policies and how you can control this function. Now, this particular policy that I'm going to reference was created in 2012. I am the life that is insured. And this policy, I have the privilege of being able to deposit 20,000 per year into this policy. I'm only contractually obligated to deposit 15,000 per year. Now, the way that policies are available in terms of policy design today are far more flexible than what I had access to when I first started down this journey. If I was just starting today, I would have the privilege of depositing 20,000, and my minimum required premium would be somewhere in the neighborhood of 6,000. So I would have far more flexibility. But I had to work with what I had back then. And it still turned out pretty good, as I'm sure you'll agree once you see this table of values. Now, what I'm going to bring up is I'm going to bring up the policy values that are accurate. Accurate as of today. These are in force policy values. Now, why am I stating all of this? I made the remark that your money has to reside somewhere. So I decided to change the flow and have that money flowing back into a system that I own and that I control. To set up this policy, I had to go through an application process that didn't cost me anything. It just cost me time. So it was about an hour or so. I had to go through a paramedical examination that was about another 45 minutes. Then I had to go through underwriting where they evaluated all of that medical history. And I was approved for the policy. I deposited my premium and the cash value began to grow and accumulate immediately. Now, we've utilized this particular policy for a variety of things from 2012 to today. And I'm going to show you all of that. And then following that, we're going to go into some case studies that Sarblo is going to lead us through on how you can utilize your system. Where you're building wealth and getting rid of your debt simultaneously. And it's going to be nothing short of amazing. So let me share my screen as I annotate on here. I'm going to show you where the policy is at today. So I started depositing 20,000 per year into this policy in 2012. And as at today, the policy has $220,948 in total cash value. Now, the death benefit began at about $772,000. And the total death benefit today is 1,143,000. And so that's a remarkable increase in death, death benefit, which is permanent. And my premiums never went up. My premiums could go down, but my premiums could never go up. Now, we were able to utilize this policy for a variety of things which I'm going to show you here in just a moment. But what I want you to see is that from this point forward, I'm showing that there is no capital outlay from me going into this policy. From this year all the way through to me reaching age 100. This policy is now accumulated enough financial energy so that the policy can continue growing cash value every single day, uninterrupted for the rest of my lifetime. And I can either choose to or choose not to deposit premium from my own source of money. Now, the premium still has to come into the policy every year. The minimum premium is $15,000. And where it's going to come from is a combination of the annual dividend and paid up additions of death benefit. So you can see here, the death benefit decreased from 1.143 million to 1.118 million. That is a partial paid up addition being used to cover the minimum required premium. But what I want you to pay particularly close attention to is the total cash value. It is never going down. It can only go up day in, day out for the rest of my lifetime. And if I live past age 100, it'll still continue growing every single day until I pass away. And when that day comes, and it will come, there's going to be a significant tax free windfall that's going to show up for all of my beneficiaries and they don't have to share any of that windfall with Revenue Canada.

Now.

What I want to demonstrate to you is, is that the loan amount that I have access to today is 90% of the total cash value. So would it be safe to say that if an opportunity tracked me down today, because I have no loan balance outstanding on this particular policy, if an opportunity tracked me down today. So let's say, for example, somebody approached me with a remarkable real estate investment opportunity and I required $60,000 to participate. I have ready access to capital on demand. On my own terms. I can initiate a policy loan from the life insurance company that I co own. So I'm a co owner of a company that lends capital. And when I receive those policy loan proceeds.

The loan proceeds are directly deposited into my checking account. Or I can have a check mailed to me, whatever I prefer. And the loan is unstructured. So what that means is that there's no repayment schedule. What the insurance company does is place a lien on the death benefit for the amount borrowed. And the total cash value of the policy continues rising every single day uninterrupted by the policy loan. So if I took out a policy loan today.

For $60,000, the insurance company is going to place a lien on the $1.143 million death benefit for $60,000.

My total cash value of 220,009,48 is going to continue going up in value every single day.

Dividends on my policy are going to continue to be paid. The loan does not negatively impact the dividends that are declared and paid to me as a participating policy owner. In fact, they have a positive impact because I'm contributing more to the net earnings of the insurance company that I co own. So as Nelson describes, there are four characters in the financial play. The first character is the depositor. I am a depositor. I'm depositing premium into this policy every single year uninterrupted. The second character in the play is the borrower. I'm the borrower because I've accessed policy loans for a wide variety of utilization of this policy over the years.

I'm also the banker, which is the third character in the play. I control access to capital on demand on my terms. You've heard the expression, whomever has the gold makes the rules. I've got the gold, so I make the rules. And I'm also the bank owner, which is the fourth and final character in the financial play. The bank owner participates in the divisible profit generated. The life insurance company itself is involved in distribution of a number of different types of insurance products. Term insurance, critical illness, disability insurance, universal life insurance, term life insurance, savings and retirement programs, group employment benefits, participating dividend paying, whole life insurance, and so much more. As a co owner of the company, I participate in the profit generated from all of those products being distributed in the marketplace. Nobody else. So someone who has a term insurance policy does not participate in any of the divisible profit generated. Somebody who has a critical illness insurance policy participates in none of the divisible surplus. There's nobody else to share it with except the participating policy owners. When you're dealing with a mutually owned life insurance company, Nelson always said that you should ideally place your policies with a mutually owned life insurance company because it's a private company, it's not publicly traded. That's where I want my money residing. And I pay no tax on the daily accrual of my cash value. There's no taxes due on the death benefit proceeds of the policy. I have ready access to capital to utilize for anything that I want. And I want to show you a few things that we've utilized.

Our policies for over the years. This particular policy began when my twin daughters were born. And this is the picture of me on the day that my twin daughters were born. Caitlin and Charlotte in the hospital with them. And Caitlin and Charlotte are my third and fourth born children.

And so when this policy was first created and it started growing in 2012. I want you to think of this image of a tree stump. There's a reason why I'm using this particular image. Because if you've ever seen a tree stump, every ring represents one year of uninterrupted growth.

And have you ever seen a tree contract?

Mother Nature is going to continue to supply the tree with water, with nutrients to grow. And when you create a policy every single year that paid up additions are added to the policy, every single year that dividends are paid, and those dividends are used to increase your paid up additions, you're adding.

Rings of uninterrupted growth that cannot be repossessed. Much like a tree cannot contract.

The growth in your policy cannot be repossessed. It cannot lose value, it cannot go backward. And so throughout the years, just with this one policy, here's what we've utilized it for. We purchased a vehicle, a Honda Odyssey, with this policy in 2015. We purchased another vehicle in 2017, my Ford Explorer. We purchased another vehicle in 2021, my Nissan Altima.

And we took several family vacations along the way. And when I say a family vacation, I mean family. I take my family, my extended family.

And all of these transactions were possible because I had ready access to money on my terms. So whenever I access the policy loan, I already had a plan to repay it.

And my aquarium, my pool of money, kept growing uninterrupted. And all of these added rings of growth kept being tacked on to my policy. That's how the policy grew from inception all the way through to where it is today. Now I have the privilege of no longer putting premium into this policy.

But my money has to reside somewhere. So I'm going to continue depositing premium into this policy for as long as I have money that must reside somewhere.

And I'm going to continue to utilize this policy. And I promise you that because I presently have no loan balance outstanding on this policy, opportunity is going to track me down. And when opportunity tracks me down, I can pounce on it very quickly.

I have no worry. I don't lay awake at night worrying about what's going on in the stock market, what's going on in the cryptocurrency trading area, what's going on in the real estate market, what's going on with the central banks.

Government monetary policy. The insurance company itself is contractually obligated. This policy is a unilateral binding contract. There's only one party to the contract that's required to make and fulfill binding guarantees and promises. And that party is is the life insurance company. And I co own it. And there's only one way to become a co owner of a mutually owned life insurance company. You must own a dividend paying participating whole life insurance contract or a system of contracts. Now here's what's interesting. If we take a look at this.

Policy in terms of how the inception since it began, how much did it grow, etc. I want you to see something. On day one the total death benefit was $721,177.

Year 10 today.

The death benefit is 1,114,000 and rising every year.

The total cash value on day one was $4,500. The total cash value year 10 today is 220,948 and it's rising daily.

The loan balance is zero. The loan amount available on day one was 4,050. This is back in 2012. The loan amount available today is $198,853. And that is ready access capital on demand. And if I was to take out a loan for the entire amount available, it would not interrupt any of the growth of my 220,000. There would be a lien against the 1.114 million. And when I access the loan, the insurance company is going to ask me would you like us to directly deposit the money into your checking account or would you like us to mail you a check? If the loan amount exceeds $50,000. I have to get it in the form of a check. If it's below 50,000, they electronically deposit it right into my account. They're not asking me, what do you need the money for? They're not asking me, what are your plans to repay the loan? It's a private loan. It's not reported to Transunion or to Equifax. It's not a private loan with a private company that I co own. I like things private as it relates to my financial life with the exception of me sharing all of my policy values on a webinar with a bunch of strangers.

Now, what's interesting is that over the years, as I mentioned, we grew a system of policies. We grew a system so that it would accommodate all of our needs financially. Now, granted, we still need to utilize a bank for the convenience of debit, right? Money has to move through these institutions that just happen to manage transactions. And presently these are banks. But we don't rely upon a commercial bank and we don't allow our money to reside there. We want our money to reside inside of an entity that we own, that we control, and where no government can encroach on it and where our money is safe and where we have certainty and we have contractual guarantees that are unilaterally binding. These policies are contracts. And so if you knew that you could store your capital inside of your own warehouse of wealth, how much do you want residing in someone else's? The answer should be obvious up to this point, what I just described to you about the growth in my policy, the tree stump example, Nelson said, this all reminds me of a phenomenon in physics. And he would use the analogy that he would want you to be at sea level. So he would want you to go to seaside, take a pot of water.

Start a fire, and get that pot above that flame so that the water begins to heat up. And he said, when you get to 210 degrees Fahrenheit, all that you have is a pot of really hot water. But when you get to 212 degrees Fahrenheit, you've created live steam. And live steam changed the world. But he said it doesn't happen until you get past 212 degrees Fahrenheit. There's a lot of heat that goes into the process up to the boiling point. But the dramatic power comes on suddenly. So when I put the first 20,000 into my policy and I had total cash value of 4,500, that's the pot of hot water, I just set it on the flame each and every year that I'm putting premium into that policy. I was increasing the temperature of that pot of water.

When I got to year nine, I was at 210 degrees. Year 10, which is the current policy year that we're In.

I've passed 212 degrees Fahrenheit. So now I've created live steam. There's no turning back. This policy will continue growing every day whether I want it to or not.

Isn't that remarkable? And if you can do that with a single policy, you can create a family banking system. You can create a system like the one that you already know about. You're already very familiar with banking. You've been banking ever since. You've taken responsibility for the use of money as it relates to your needs financially, both personally and corporately. If you, if you're a business owner or a business leader, and so you're already familiar with the function of banking, you're just not controlling any of it as it relates to your needs. How much does it cost you to dream big? Nada. Nothing. Zero. What does it cost you if you don't? Everything. Taking action is the only way you're going to achieve success. It's one thing to dream big, it's another thing to accompany that with action. Now I'm 14 years into my journey with the process of becoming your own banker. When I first began, I not only was dreaming big and continue to have.

Massive aspirations of sharing this message across the country and in the United States.

But I took massive action and I was consistent.

And I took my vitamins along the way.

Vitamin D, discipline, vitamin A action, vitamin C, courage.

And I kept expanding our system of policies.

Making it bigger and bigger and bigger. And fast forward to today when I say to you that one of Nelson Nash's five golden rules is don't be afraid to capitalize your system. Your money must reside somewhere. What that's culminated into today is that our total death benefit in our family banking system is $30 million and rising every month. Because we deposit premium monthly in some policies. We have policies coming up for their anniversary literally once every number of days. Like it's just constant.

Our total cash value is 2 million and rising daily. Our loan balance presently in our family banking system is 200,000. And that loan balance is unstructured. We decide when and how we repay it or if it doesn't get repaid, then the death benefit will extinguish that loan balance. We have access to 1,801,000 on demand, on our terms today.

So when I hear people that I speak to on a daily basis ask the question, where do I begin? And do I have to be rich to do this? We have clients that begin with as little as $100 a month for policies for their kids and their grandkids or great grandkids. And we have clients that start with multiple six figures every month. The point is that you can't learn how to swim until you get in the water. And we certainly don't want you diving into the deep end if you've never swam before. We want you to start where it's comfortable and where it's affordable. But if you begin and you're not dreaming big, I promise you the banks are dreaming big.

And they're really good at getting money to flow to them. I got really good at getting money to flow back to my family. You can do this too. You just need to know how. You've got to work with a coach. While you may not choose to implement this process with us, I would absolutely say to you and encourage you to work with somebody who's thoroughly familiar with the implementation of the process. You can talk to a ton of people who have some level of familiarity with, with the product, but if that's all you're focused on, you're missing the point altogether. You need someone who's thoroughly familiar and can coach you and lead you and help mentor you to implement this in your life. Not to be responsible for you, to be responsible to you, to help you help yourself. By actually helping you to help yourself.

Working with an authorized infinite banking practitioner.

You'Re seeing more and more authorized practitioners show up in our country, which is great. We love to see that. We love to see advisors embracing this concept.

We are the leading implementers and educators of this process in the country. And I say that with all due respect to several colleagues in the industry who are doing great, great work and serving their clients well. We've been doing this since inception in Canada and we're very good at it. And every single person on our team practices what we teach. You would not be interacting with anyone on our team who does not practice this in their own lives. I get asked the question all the time, Jason, can you connect me with the right person on your team who can help me understand how to implement this in my personal life and in my business life. The answer is yes. You can text the word schedule to 780-809-4599. That's 780-809-4599. Text, text, the word schedule to 780-809-45 99. And when you do that, you'll receive a link, a calendar link, and you can schedule a time to connect with the right person on my team. And I promise you, you'll be in great hands. And nobody's going to try to pressure you to do anything other than ask all the questions that you have.

Because with this process, the way that we work with people in Canada is we're the buyer, we're not the seller. We're the ones that are going to decide whether or not we have a basis to work together, not the other way around. If you think of a transaction where you have both a buyer and a seller, the buyer is the one who gets to do the rejecting. That's a fact. And we do not work with everyone that we meet. There has to be a fit. And if you do not read this book or you choose not to read this book, you've wasted your time here tonight because we're not going to be well suited to work with you. We want you to get your hands on this book because we're going to be utilizing it in coaching you and mentoring you through the process. And believe me, you've seen firsthand. I just showed you how this book changed my life. It can have the same impact on you. When I was growing up, my dad used to rub two nickels together until the beavers would fart. And that still wasn't enough money to go around in our household. I didn't come from money. I lived in a home that was a semi detached duplex, 513 Martin Avenue in 10 Timmins, Ontario.

And this home isn't much bigger than the garden shed that I have now. Dinners were a question mark. Many evenings, lunches for school were a question mark. Most days.

Minus 40 degree temperatures where the heat would get turned off because we didn't pay the bill, we didn't have the money. Nobody taught my parents how to accumulate money, how to pay the right attention to money so that they can multiply it and grow it. Nobody taught them. I was blessed beyond the definition of good fortune to come across the late R. Nelson Nash. And he impacted my life in a personal and professional way that I can never, ever articulate. And the only way that I can repay my debt of gratitude for his generosity and wisdom and knowledge and time and energy is to do what I'm doing tonight, to share this with you and to implore you, regardless of where you are today, financially, regardless of where you are, you want improvement. If you're financially free, you want improvement. If you're financially struggling, you want improvement. If you're in debt, you want improvement financially in your life. This process will radically improve anything that you're already doing financially or that you're even contemplating doing financially. But it all begins with you taking responsibility to commit to action.

And to do it with someone who's not going to pressure you to buy a product without you defining why you're doing it. Because until you define your why, all you're going to remember is what you bought. I could have sat here tonight and showed you all of our policies, the amazing growth, all the numbers. And for those of you who are numbers oriented, you're thinking, wow, this is great, this looks really good. But then you're going to go right back to your way of being tomorrow and letting someone else's bank control the use and liquidity of all the money that you worked your butt off for. There's a better way and Sarblo is going to take over the controls at this point.

Capitalization, folks, is going to be key in creating your banking system. The more money you give to the bank, the more money bank has to use. No different than that. The more money you put into your system, system of banking, the more of the banking function you'll be able to control in less time. I picked this picture purposely because we all know what debt does to us as human. It creates a lot of stress, a lot of sleepless nights. So the topic for today is going to be how you can recapture debt. If you're not familiar with the word recapture, you're going to see that in some examples today. But most importantly, how you can effectively pay off your debt while building your wealth at the same time.

Now, what we'll be covering today is so how most Canadians are acquiring debt today. So everybody.

And folks on the webinar today, the way you may be acquiring that today, if you're not practicing the process of becoming a banker, is the conventional way, which may include bank financing, lease or cash or combination of all that. So we're going to talk about how everybody is acquiring that today using this conventional way and the financial impact it'll have on your future.

Now, the other two things that we're going to talk about is that there is a better way to acquire debt going forward, which is going to put you ahead financially, not pull you back financially. And then there's also a better way to pay off existing debt, which is what we do almost on daily basis with clients who are practicing the process of becoming your own banker.

Now, if you Google the word debt, and I did that today, here's what Uncle Google says about debt. The definition of debt is something typically money that is owed or due. And the other definition of debt is the state of owning money. So when you see all this, you quickly can come to a conclusion that when you owe money to someone else because you borrowed money from someone else to acquire, acquired the goods and services that you need in life, you are in a debt situation because you have to make payments to someone and that transaction is controlled by someone and that may be causing you stress today. Now I've listed some of the most common debts, mortgage, car loans, student loans, balancing credit cards and lines of credit, consolidation loans, private loans, etc. So these are just some examples of the debt. And then it doesn't matter what debt you have today, you have to make a consistent payment, whether it's on biweekly basis, monthly basis, semi, monthly, semiannual, household restructured with the lender. And that may be putting you in a position of stress, confusion, sleepless nights. Now most Canadians who get into this situation, they've worked so hard to get out of debt because it's stressing them. And stress causes health concerns, stress causes families to separate. And it all begins with financial not well being. If you're not financially well being, that's when the stress starts. And the one reason for financial not well being is debt. So the reason why it causes debt is because of lack of financial security. Now some Canadians, and maybe you are this person.

You don't like debt, you don't like borrowing money from someone because you have to make consistent payment. So you, what you may do today is to avoid that you may be saving cash for things that you need to buy. And the reason why you're doing that because you're thinking or what you've been told, is when you pay cash, you don't owe money to anybody and hence you won't have any debts. And that's a stress free way of living. So borrowing money is debt because money is owed. But when you pay cash for goods and services, there is no debt. Well, I'm here to share this with you that that is not true. Whether you borrow money or whether you pay cash, you're always going to have debt. If you're surprised by this, we'll stay on the webinar. You're going to see in a bit why paying cash is also creating debt. So when you pay cash for things that you need to buy the capital that you are going to use the first. First thing first is, let's just say you need to buy a car for $30,000. You have to start accumulating.

To have that money to buy a car. And once you have accumulated that capital, let's just say $30,000, and now you're ready to buy the car, you take all the $30,000 and you buy the car. Objective is accomplished, but the capital that you use to buy the car is gone forever from you, your family, or your business. That capital that you just used to buy things will never earn another dime of interest for you ever again and for your next generations to come, or your next generations to follow. So you've given up an opportunity to earn money. You are depleting your family's future net worth today if you're paying cash for things. Because when you pay cash, the money is gone. That money could have been with your family till the end of time. So when you pay cash, you're actually reducing your future net worth. You're taking away from your future money spending that you could have had, maybe a retirement, maybe future money that you could have accumulated to transfer to your next generation. So when you pay cash, you're depleting your net worth.

Here's a fact. When you pay cash for things, you're creating indebtedness to yourself and your family.

Whether you borrow money to buy things or you pay cash for things, the fact of the matter is you are going to be in debt. You're always going to be in debt. This is fact of the matter. Either you're going to be in debt to someone else or you are going to be in debt to yourself for your future net worth. When you pay cash for goods and services.

There is no escaping it. And the reason why there's no escaping it because you need to buy goods and services till the end of time. And to acquire these goods and services, either you have to borrow money from a bank or other financial institution and get into debt, or you're going to have to save up cash and then use your cash to acquire these goods and services. And then you're going to get into indebtedness to yourself by reducing your future net worth, by reducing the ability to spend more money in future when you pay cash.

We cannot change this fact. But what we can change going forward is.

How are you going to acquire debt going forward. We cannot change the fact that we need money. We need money for lifestyle, we need cars, we need vacation, we need to send our kids to education. We need money for wedding, we need money for school, we need money for investments, we need money for retirement. We cannot change or compromise on our lifestyle. So we are always going to be in debt. But we can certainly change the process of how you're going about acquiring debt so that you always are growing your wealth or you're always compounding your wealth going forward. If you acquire and pay off your debt while building your wealth, you're going to be in a much better financial position and you will create a stress free way of living. And that is what we're going to show you is how you can change the process of buying debt going forward.

Everything that we do in life financially is a measure against how everyone else is doing financially. And hence we can compare whether we're making progress or not. So let's look at an example. So our objective is.

To make sure that you don't feel like this anymore. Because what you're doing today, you're following a process. And that process is creating debt for you, which is creating uncertainty in life, it's creating financial stress. And our hope is that after this webinar, you're going to feel the certainty and you're going to feel something like this. You're going to feel much more happy and much more confident that there is a better way going forward for your family. And you don't have to be stressed about money and debt and losing money to snakes and dragons, so called banks going forward. Here's an example. So here's a conventional way of doing things and we're going to compare this conventional way of doing things with a better way of doing things. So I'm going to use an example of a family, a corporate or buying a car. And the reason why I'm using car in this example is because it's the most common commodity that we all need. Now this family, let's assume they're age 40, they're 40 years young, husband and wife, they're both 40 and they just want to they bought this car. The value of car is $35,000 and it's at 0% financing. So let's assume that this is a Honda car. Doesn't matter which manufacturer, this is a Honda car. And the dealership has 0% financing for 84 months. Well, first thing to consider is, is there truly something as 0% financing? You really think a finance company is going to lend you money and make no profit while the profit is built into the car? So we're going to make this deal really, really good for everybody. So let's Assume that the value of car that they're purchasing is 35,000. It's a 0% financing. And the financing term is 84 months. And based on that, the monthly payment is $417 per month. And this is the conventional way of doing things, right? Financing, leasing, doesn't matter what it is. We're comparing one with the better way, which is the process of becoming a banker. Now let's fast forward seven years. Let's just say they bought the car today. They've been making their $470 per month payment to the car dealership and they've done that successfully for seven years. So let's fast forward seven years from today and then look back to evaluate the transaction. Let's see what has transpired financially for that transaction for the family over the last seven years. Now this is what you see. What you see is them successfully paying off the debt in seven years for that car that they financed. The interest paid to the finance company was zero and the car is now owned free and clear after seven years. This is what most of you may see on that transaction. But this is what you didn't see on the transaction. What you didn't see is who got all their hard earned money. So the payments that they were making on the 0% financing, the 417amonth for 84 months, $35,000, their hard earned money. Who got all their hard earned money? It's not with them anymore. It's been transferred away. How much interest is the family going to earn on that money now? So that $35,000 has left them forever, not just during their lifetime, but for the next generation to come and the next generations to come. The cost of loss opportunity is permanent on that money that it has been transferred away 100%. Now, who was in total and absolute control over the transaction and financing terms over the seven year period? It wasn't them. They had to qualify for the transaction even if it was 0% financing. The bank controlled the financing terms. They couldn't take a vacation from the payment. They could have made extra payments to the bank to reduce the amortization from seven years to less. That's all they could have done.

Now more facts to consider. In this transaction, the family net worth reduced by $35,000 plus the opportunity cost on that money because they transferred money away from themselves and their family forever. It's never going to be with that family anymore. So their net worth reduced by 35,000 plus what the money.

Could have been earning for them if they actually had kept that money and invested that money. There's cost of loss, opportunity, the opportunity cost on that money $35,000 from age 40 till age 65. Assuming that they're able to earn 2% per year, the opportunity cost on that money is $22,681. So by transferring that money away at 0% financing, they have 35,000 plus $22,681 less to spend at retirement at age 65 because of the decision that they made. If this family earns 100,000 per year, let's assume that they're earning 100,000 per year. Between husband and wife, they're probably earning more. Let's assume that they're earning 100,000 per year. And let's also assume that the family is a saver and they actually save 10% or whatever they make. So 10% of 100,000 equates to $10,000 per year. Now, they gave up $35,000 over a period of seven years. And let's say they're saving 10,000 per year. By transferring this $35,000 away on car financing, they've actually gone backwards 3.5 years in time financially, because it'll take them about 3.5 years just to recover that loss of money for the family.

Because if they're saving 10,000 per year and they give up $35,000 on 0% finance, they have to over the next three and a half years. They are actually setting money aside now to just recover their loss. And nobody sees that from time standpoint, they're behind financially three and a half years. So how much more cash do you want to now transfer away from your family? Because when you transfer cash away, you're going back in time financially, because now you're working just to recover your loss. You're not making any progress. Now, what we talked about, there is a better way. So I'm going to show you the better way, which is the process of becoming your own banker. Jason did a fantastic job giving us really good overview of this process. Now, the reason why we want to use this process to finance the things that we need in life, because it continues, it allows us to continuously build our wealth without interruption while paying off our debts and loans. Now, I'm going to go back in time. I'm going to go back to October 2019. I'm going to use an example. I'm going to compare the conventional way, which was the card financing at 0% for that family. I'm going to show you how I did it. And we'll compare. And once we compare things, then we resonate, which is a better way because we'll have something to compare against. So I decided to buy this car. It's a Nissan Murano. So the price tag for this car was $35,000. Now 2019 is when I bought this car. Now, I had the same options as everybody else. I could have paid cash, I could have financed, I could have leased. I had all those options available. But knowing what I know, if I would have opted for any of those options, I would be going back in time. Financially, I won't be making any progress for my family. I didn't chose those methods. I had access to those methods. I didn't. The method that I chose was the process of becoming your own banker. Now as Jason mentioned, the tool that we use to implement this process in our life is called participating dividend paying whole life policy. And Jason has shared a lot of things about the attributes of the policy. I'm just going to repeat these attributes because reputation is going to be our best practice today. A dividend paying whole life policy can help create peace of mind and unmatched financial security. And here's how, when you start putting your deposits, so called your premium. So we don't call premium premium, we call premium deposit. The way you're depositing money in a bank, the premium is your deposit in a participating whole life policy. So when you start depositing money as premium in your whole life policy, the cash values accumulate immediately. And you saw that in Jason's example. In five on first day he put $20,000 and his cash flows are $4,500. So the cash value start accumulating immediately. And not just that, the cash value start growing immediately on daily basis. And the cash values can never be less than what it is today. Is contractually guaranteed to grow by the insurance company because cash values must match death benefit by age 100. So you start with a high death benefit. And every single day as you age, your cash values must grow every day to match the death benefit benefit by age 100. Now in this policy to the policy owner, there's easy access to cash, there's easy access to and control over growing pool of financial value that you can take advantage of the opportunities that are going to come up or you can take advantages of buying the things that you need to buy in life, like cars, like investments, kids, education, family vacations, anything that you have the need for use of money. You can access capital against the policy via method called a policy loan. And your pool of capital will continue growing no matter what happens. It provides a growing death benefit which is paid to your named beneficiary directly and it's always tax free.

Now here's what I did. So although I purchased this car In October in 2019, I actually discovered the process of becoming a banker in 2015 when I had met Jason. And then the moment I attended Jason's live session in Edmonton, which was a full day session on a Saturday, it connected to me right away. And I wanted to kickstart this policy for myself and my family. The purpose for this policy was to just finance cars going forward because I'm going to need cars till the end of time. Someone has to finance those cars for me. I just wanted my own banking system to finance cars because I wanted to build wealth while paying off debt. The policy actually started in 2017, and in 2017 I knew by the time 2019 would come I need a new car. So I wanted to be ready to buy this new car from my policy. The policy started in 2017. The premium deposit that I chose for this particular policy and it just so happened it's the same premium that Jason walked us through for his policy was 20,000 per year. I was already saving that money in a commercial bank and I just changed the address of that money. I didn't change my cash flow, I just changed where the money is going to be sitting and it's sitting as a deposit into my banking system. So it's 20,000 per year for this policy. The starting debt benefit on the policy was $680,000. So I put in 20k into policy and I die. My family received $680,000 tax free death benefit. If I had continued putting $20,000 in a bank and I died, my family would receive equivalent to what's in the bank account.

Now, in 2019, my cash values in the policy were way over $35,000 and I needed $35,000 to buy this car.

My daily cash value growth in 2019 was $20 a day. Now how do I know that number? Insurance companies, they provide access to policy owners. You can actually log in and look at your cash values today and then you can log in and look at your cash values the next day and you'll see that the cash values grow every single day. So in 2019 and me being an engineer, a little bit more analytical, I like looking at my policies and I was just starting with my own family banking system so I would look at my policies every single day. So in 2019, my daily growth in the policy at that time was $20 per day. It's much more today. You know, today is 2022. My daily growth in the policy is much higher this year than what it was in 2019. Now, capital required to purchase the car was $35,000. And you know, in 2019, my death benefit had increased to $750,000. I started at $680,000 in death benefit in 2017, and by 2019, my death benefit was over $750,000.

So here's how I went about purchasing the car using a process called policy loan. So policy loan is a single page document. And what the input required on this document is name, name of the policy owner, you have to put in your policy number, amount of loan. So what you can borrow is up to 90% of your cash value. So I had more than enough Money to access $35,000 as a loan from the insurance company. And then I just have to let the insurance company know whether I want to receive that loan as a direct deposit into a bank account. And if I want to do that, all I do is send them a direct deposit slip or a copy of void check and the money is directly deposited into my bank account. Or alternatively, insurance company can also send a check at my address. So both options were available. I just updated the electronic deposit option. And then once I complete all that information, the only other thing that I have to do is sign and date. That's all I need to do on a policy loan to request money. Now, if you have requested loans from other institutions other than policy, how is that process compared to how is this process of initiating loans? Which one's easier? The answer is obvious, but it's always good to compare, right? There was no qualification for the loan and there was no consent to repayments. Because as a policy owner, I have full control and repaying the loan. When I requested that loan, insurance company used my cash as collateral and they put a lien on my death benefit. So in case a loan was outstanding as I died, when I if I died, they would take it from a death benefit and the family would get the remaining money. So by accessing money as a loan from a participating holder policy to implement the process of becoming a banker, you are in total and absolute control on repaying the loan.

Some important facts on policy loan. So outsetting policy loans, it doesn't impact daily cash value growth. So my cash value growth, which in 2019 was $20 per day, that growth never got reduced. It kept growing at $20 per day. The outstanding Policy loan doesn't reduce your death benefit while alive. Outstanding policy loan doesn't negatively impact your future dividends. Outstanding policy loans, they do not show up on credit reports. So there's not reported to TransUnion or Equifax's private arrangement between you and the insurance company, which is fantastic. So technically, technically when I borrowed that money as a loan and I gave it to Nissan dealership in exchange for the car, I owe that car free and clear. Because the lien for that loan is not what I'm going to use the money to buy. The lien for that loan is my future debt selling. So whatever I'm using the money to buy, I own it free and clear is not showing up anywhere at that. Any outstanding policy loans will be deducted from the death benefit and the family gets the rent. So in my transaction, let's just say I use that money to buy the car, $35,000 and my death benefit was over 750,000. If I would have taken the wrong turn right off the parking lot of the Nissan dealership and got hit by a bus, my family would receive 750,000 minus $35,000 in loan. Family is fine. So if you live a long life, you're going to be just fine. With all the growth opportunity with the policy and the access to capital to capitalize on other opportunities. And God forbid the unlikely happens and we know more on planet, we become an angel. Our family is going to do just fine. There's only two possibilities. Ten years from today, either you're alive or you're gone. Either ways your family will be fine or you'll be fine if you like.

So going back to 2019, my daily cash value growth in the policy was $20 a day. Policy loan initiated was $35,000 received in seven business days. Because it was electronically deposited into my bank account. I took insurance companies money to go by the car while my pool of capital kept increasing by $20 per day. Now when you're accessing someone else's pool of capital, in this case, a policy loan was not my money, it was insurance company's money. So when you access someone else's capital, there is going to be interest on it because it's not your money, your money, in my case, my money is inside the policy growing every single day. I initiated insurance companies money when you're accessing their money, there's charge of accessing money, which is interest. In this transaction in 2019, the simple interest for the year was 7%. Now simple interest is calculated on daily basis. So if you take $35,000, which is what the loan was, and you multiply by 7% divided by 365, that will give you this number $6.71. Now, this interest or this loan or interest on this loan is not going to impact my daily growth in the policy. I'm growing $20 per day, and the interest on that loan on daily basis is $6.71. Now, I decided to pay back policy loans to insurance company based on my cash flow, which was 500 bucks per month. So I decided how much I want to pay back as a loan, which is 500 bucks per month. Nobody forced me to do that. Insurance company didn't come after me. So that puts me in a total and absolute control. Because I can reduce my monthly payments, or I can increase my monthly payments. I control the repayment of that debt. So when we bought that car, we did a family meeting and we said, hey, based on a cash flow, how much is comfortable for us to dedicate every single month as a loan repayment for this transaction to the insurance company? Because we borrowed money, we're not going to steal from our banking system. We're going to treat it no different than what we would if you were borrowing money from a bank. So I'm paying back 500 bucks a month for 84 months on this loan. Now, my monthly cash value growth is $600. Because $20 per day in 2019 multiplied by 30, that's $600 in cash value growth that didn't get interrupted by this loan. My monthly loan repayment set by me, my family, is $500 per month. Now, the interest, which is 671 per day multiplied by 30 days is $201.

So let's see what's happening to my family net worth on the transaction that I'm making for loan repayment in 2019 for my car. So my cash values increased by $600 in the month. I'm paying $500 back. $201 is the interest. So 600 plus 500 minus 201, that's 899amonth.

What just happened?

Where else I can pay back $500 a month as a loan and have access to 899. Where else I can repay a loan and have my net worth go up?

You can build your wealth, you can build your net worth by paying your debt. You just have to change the process of how you're doing it. The conventional method that I showed you before, where the family financed $35,000 or 84 months at 0% and they were making a payment of $417,000 a month. How much of that payment was building their net worth?

The answer is simple. 0 at 0% financing. How much of my payment at 7% financing is building my net worth a lot more than what I'm paying back. This is the power of changing.

How are you going to go about buying debts going forward? If you're doing it through the process of becoming a banker, that's a better way. If you're doing it conventionally, well, we already know what the outcome of that is going to be. To summarize, I'm building wealth which is my daily cash value growth.

While I'm paying off my debt which is policy loan.

I'm continuously compounding my family wealth because as I take a policy loan I do not interrupt the growth of the money. The daily growth was $20 a day in 2019. It's much better today and it's just going to get better every single year going forward. I'm not going backwards in life financially. I'm making progress in life financially because when I'm buying debt through the system, I'm making progress. I'm able to re access more than what I'm repaying. If I was doing it the conventional way, I wasn't making progress. I was, I was going back in time.

I have total and absolute control over the loan repayment Policy loan is private between me and the insurance company. Doesn't show up on credit report. God forbid if I would I would have died and the loan was outstanding. I wouldn't leave any indebtedness behind to my family. In fact I would leave them a car that is paid for plus tax free death benefit. That's going to show in show up when my family needs that money the most. But.

The interest payment on policy loan adds more profit to my business that I co own and it comes to anybody who has a participating dividend paying quality policy as dividends.

I create more access to capital for more future opportunities by paying back my policy loan. Because I'm financing debt using the system. I pay back 500, I can access 900. But if I was doing it the conventional way, the money was gone. There's no way I can access that money. So paying back the debt using the system makes that debt a good debt because you're able to not just re access what you repaid but you're able to access a lot more than what you repaid. You're building a lot more wealth if the above sounds good. Well, compared to what? Because everything that we do in life is a measure against how everybody else is doing, right?

It's a stress free way of living. When you acquire the debt via the process of becoming a banker versus paying cash, traditional way of financing or leasing, you are going to buy goods and services till the end of time. You need money for those goods and services. It has to come from somewhere and you have to pay someone on that debt. By changing how you're going to go about buying things going forward, in this case the process of becoming a banker, you will make radical financial improvement for yourself, your family and your business. Now, the most common question that we get asked is what if I already have debts today?

Can I not start a policy today, initiate a policy loan and start paying down existing debts? Or does it only work for acquiring or buying things from the policy going forward, build up enough money in the policy and then buy things going forward, or does it also work for existing debts? The answer to your question or the answer to this question is absolutely yes. You can start a policy today and you can use this process to start eliminating the snakes and dragons, the debt that you presently have. Lines of credit, mortgages, credit cards, whatever it is. We do this all day long with our clients. We show them how they can build a wealth and pay down debt by following this process for the debts that they already have. Now to demonstrate that, I'm going to walk everybody through a very, very, very simple case study. This is one of the simplest case studies, that simple case that I've done. And the cases can become even more complex. Now in this case study, when this gentleman came through the whole education process of when, you know, reading Nelson's book, understanding everything about it, his objective was to initially use this process to pay off his car. So his age 45, male. And then I met with him in October 2017. The family income, so husband, wife income was 130,000 per year. The objective for the family immediate objective was to pay off the car loan. So they owed about $30,000 on the car loan and they were making a payment of $500 a month on that car loan to the finance company and the remaining numbers of payments left for five years. So when they came to me with this objective, they wanted to immediately use this policy to pay off that because they were done paying down debt and not making any money. They wanted to use this process to pay off debt and build wealth at the same time. And they also needed life insurance. So fact finding. So family saves about 15,000 per year. So they're savers. They set aside 15,000 per year to capitalize on future opportun. Now, in my fact finding, and this is for this particular case, I also found out that they actually have access to $50,000 in HELOC. And the interest rate on the HELOC back in 2017 was 5%. And if the debt is on HELOC, the bank only wanted interest payment only. They didn't want any principal payment. So this is going back in 2017. So when we meet with clients, we understand where you are in your life financially, what your goals are, in fact, funding. We look at more amazing opportunities to restructure debt and then use this process to pay off debt going forward. So for this particular family, they could borrow money from heloc. So here's what we did. We started a policy with $10,000 per year because they were already saving $15,000 per year in a commercial bank. They just decided to save 10,000 of that money in the policy because they understand the process of becoming a banker. So they took that money, started a policy. Now, the moment they started the policy in October 2017, they immediately had access to cash values. And you'll see it in a bit how much they could access from the cash values as a loan. The starting death benefit on the family just with this policy was 155,323. So at least now they have some death benefit. If they were putting that money aside in a commercial bank and keep building that reservoir with the commercial bank, they never would have had any death benefit. Now, in addition to above, to accelerate the debt recapture process, especially in this unique case, what we did was we paid off the $30,000 of that conventional traditional loan by actually borrowing money from heloc. So we didn't pay off the debt completely, we just restructured the debt. Instead of having that debt as a principal and interest payment, we just paid it off on the HELOC because HELOC wanted interest only at 5%. And you'll see in a bit why we did that. So we moved the debt from a bank loan to the HELOC. The policy started October 2017 and the premium is 10,000 per year for this policy. And then what we did was we paid off that conventional bank loan, the car loan, by taking money from the HELOC. So the debt is now moved on HELOC. Now on the conventional loan, their monthly payment was $500 per month, which was principal interest. So there was 500 bucks per month, leaving their family forever on that loan repayment by structuring the debt on a HELOC. And HELOC only needed 5%, and 5% of $30,000 is 130 bucks per month. So just by restructuring the debt on heloc, we reduced the outflow to the bank. Now it's just interest only and it's 130 bucks. It's not 500 bucks anymore. It's not about the rate, guys. Even if the rate on the conventional car loan was lower than heloc, it's not about the rate. It's all about the cash outlay. 500 bucks, which is 130 bucks. $130 is less money to the bank. So let's give them the least of your money. Now they were sending 500 bucks per month to the bank and then on the HELOC, they only do $130 per month. That leaves them with additional cash access of 370 bucks per month. I'm going to show you what we did with the 370 bucks per month. Just by virtue of being able to do all this, we were able to really accelerate this process for them. And this is unique to this case. There's many ways that we could have done this.

So let's begin with this debt recapture case study. Because the whole objective is to move that debt from where it is back into their banking system so that they are able to recapture all that $500, leaving them presently. So October 17th, that's when they started the policy. They put their first Premium, which is $10,000, and immediately as they put that $10,000 in, they could borrow 4,322 from the policy as a loan right away. And you know this now, when you borrow money from the policy, your cash in the policy continues to grow every single day. So you're now you're using insurance company's money to pay off the debt while you're building wealth at the same time, which is your daily cash value growth. So we are able to borrow this money and immediately we take that money and we apply it towards the heloc, because again now the debt is on heloc. It's not a traditional car loan anymore. So we reduce that HELOC balance. Now here's something about heloc, because it's interest only on remaining balance. When we paid down, when we reduce the balance on heloc down to 25,678, the monthly payment will also go down. It's not going to be 130 bucks anymore. It'll be less than that. But in my case study, in this example, I'm assuming that the monthly payment still remains the same, 130 bucks per month, but it actually is less. In fact, if they keep the monthly payment 130 bucks per month, they're actually reducing the principal even more. Let's not even consider that in our calculation. Let's just keep it really simple. They make 130 bucks per month on their HELOC. That's all they're required to do. Now, the extra money, the 370 that they saved, remember they were sending $500 per month to the bank. HELOC needs 130. That gives them extra 370. This is already part of the cash flow. So that extra money that they were sending away now, now they're putting that money right back into their own family banking system to pay back the loans that they have from the insurance company versus having that money leave them or their banking system or their banking system and go to someone else's banking system. So they're not changing their cash flow. They're just changing who is getting the money. They still have the same $500 per month in payment. They just change who is getting a good chunk of that money now. So you can see the HELOC balance stays the same and they consistently make that minimum payment. And now they have $370 per month. Per month. Coming back to their system of financing to their banking system washes away. So let's Fast forward to October 2018. So one year after starting the policy, so they deposited the other premium, the second premium of 10,000, and now you can see they're able to access $6,621, which is a lot more than what they were able to access in the first year. So the policy is becoming efficient. Now they can access more money. So they're able to use.

This amount of money and plus what they've repaid back into the policy. So the total that they can now use is $11,000. And they take that money and they apply it towards HELOC and they reduce the balance to $14,616 in a matter of one year of starting the policy. The amount of debt that they owe to Snakes and Dragons has been reduced to half. And now they're being an honest banker. So they're not changing their cash flow. They're still paying back the 370 per month very consistently. And let's fast Forward to year three, October 2019.

Now you can see they're able to access $8,000 just by virtue of policy growing, which is a lot more than what they were able to Access in the second year. And they've repaid back $4,440. Adding both together is 12,513 that they can access. They take that money and they apply that towards the HELOC. The HELOC is down to $2100 in a matter of two years. And just by following the process, just by doing what they already are doing without changing any cash flow, by the time they reach April 2020, they have enough money available to pay off the line of credit completely. So in a matter of 31 months, that debt has been eliminated.

The $500 per month, the original loan was required for five years on the car financing. And just by changing the process to get to the objective. The objective was to eradicate the debt while build wealth at the same time. We were able to implement this process, the process of becoming a banker in the life. We were able to pay off that debt in a matter of 31 months. Way ahead schedule. So debt recapture summary. So the family, or in this case the gentleman, he paid off the debt in 31 months versus his original schedule of 16 months. He has death benefit now, which is growing every year. Before this, there was no death benefit for the family. He has $500 per month. Building his future net worth versus reducing it. As I walk you through my example, when I pay back $500 per month back to my policy on my car loan, I had access to 899. When they're paying back $40 per month to their policy, they're also able to access a lot more than what they're repaying back as a loan. He did all this without changing his cash flow or working any harder. And plus, after paying down the line of credit, he still has that line of credit. So if an opportunity came up for him, he cannot just access money against the policy because the policy is also growing. If he needs more money than that, he can always go back and access line of credit. So this hasn't taken away any of his options. He is building wealth, or he built wealth while paying off his debt. And he's got daily cash growth, and the daily cash growth is getting better every year going forward. This is 2022. I met with him in 2017. He's way ahead in life financially now because he never interrupted the growth of his own capital. Now, can this policy be used for future vehicles for him? Absolutely yes. Can this policy be used to buy more investments for him? The answer is yes. Can he just keep building the policy and use it for future retirement? The answer is yes. For anything that he has the need for use of money, he can use his banking system. And it's going to be getting. And it'll get better as years go by. As days go by, it'll keep increasing. As years go by, it'll just keep getting better. No different than how Jason walked us through his policy. To know how you can become your own banker and start building wealth while paying off debt, there's only one thing that you have to do which is to take action. All you got to do is text the word schedule to the phone number on your screen, which is 780-809-4599, and you'll be able to connect with one of our amazing team members authorizing Infinite Banking Practitioners and see how this process can be applied in your life to pay off your debts. And most importantly, let's see if you have a basis to work together.

You may have heard the expression that when the reward is big enough, you won't have any excuses or explanations. And I'm presently doing, for the first eight weeks of the year, I'm doing a Monday evening mentoring call with a whole group of people. I did a webinar prior to the Christmas break on how to set goals for 2022 and actually achieve them. And in the first Monday mentoring session, I shared with folks that if the reward is big enough, you won't have any excuses or any explanations. My late dad, God rest his soul, he used to say to me, excuses don't explain anything and explanations don't excuse. And if I said to every single one of you on the webinar, there's a winning lottery ticket worth $400 million, and it's sitting on the counter at your nearest corner store and you only have 15 minutes to get there. Now, I'm saying this to you and imagine for a moment it's two o' clock in the morning and I just rattled you out of a deep sleep and said that to you. Well, when the reward's big enough, you're not going to have any excuse or any explanation. You're going to sprint down to that corner store in your pajamas to get your hands on that winning lotto ticket. And the point that I'm trying to make is that when you make a choice to better your life.

Then you're going to feel the weight. You're going to feel the weight of that, whether it's to make more money or to create more access and opportunities you know, for those that you love or to turn your life in a different direction, whether it's more freedom of time, purpose, relationship, money, whatever that may be, you're going to feel that and it's going to be heavy. But I promise you, this is where most people break and they go back to normal. If you think about breaking and going back to normal.

When being normal wasn't making you happy to begin with.

And so you can take control of the banking function in your life, you can radically improve anything that you're already doing financially, or you can make changes to the things that are preventing you from becoming your own banker.

But you've got to take action. If you procrastinate, then you're going to end up making excuses and explanations. We talk to people all the time who say, hey, I tuned into a webinar back in November of 2020. Do you remember me? And we're always here to help, but we always ask what tipped the scale? Why now? I ran out of excuses and I ran out of explanations and now's the time. So don't be the person who waits. The longer you wait, the more you penalize yourself. Text the word schedule to 780-809-4599 and take action. You'll feel a little bit more weight lifted off your shoulders just for doing that, for taking that step. So let's get to some Q and A.

If interest rates go up on a loan and you take that loan from an insurance company, does the interest of the daily cash value or the dividend amount rise?

Also, for example, if you request a policy loan from the life insurance company and the simple interest rate that begins accruing on that loan balance, let's presume for a moment it's 6% just for simple percentages. Now people may know that simple interest accrues daily. It compounds one time annually and on this case it's the anniversary date of the policy. And if the insurance company decides that the simple interest rate is to be increased. So this is a decision that's made by the board of directors of the life insurance company. The total cash value of the policy is still going to continue rising in order to match the total death benefit of the insurance death benefit by age 100 of the life that's insured. Now if a decision is made to increase that simple interest rate, that is going to be a higher net contribution to the earnings of the insurance company that you co own. And what we coach our clients to do is what we do personally, which is we always repay more than what the insurance company is calling for. So I repay all of my policy loans at 10% simple interest. And that extra percentage, that extra money is going back into my system as additional pricing premium because that's what's growing my system. That's what what's making it accelerate. So if the interest rate is increased by the lender that you co own the life insurance company, I would recommend that you do two things. One, send an email to the CEO of that company saying thank you, thank you so much for doing that. And secondly.

Also remind them that the dividend calculation is primarily based on the contribution principle and that you're more than happy to repay more than what the insurance company calls for because you recognize the advantage of putting more money into your own business's cash register. Is there a policy to save on capital gains tax when you sell your business? There sure is.

I was going to ask about the.

Difference between a UL and a whole life policy. Does anybody know what the difference is between Wall street and the Las Vegas strip? The name of the games or the.

Name of the funds? No.

One is located in New York and the other one's located in Nevada.

And so the question is, do you want to gamble or do you want certainty? A universal life insurance policy is a term insurance with a slot machine attached to it. A dividend paying, participating whole life insurance contract is a unilateral binding contract with contractual guarantees attached to it. So you want certainty or you want uncertainty? That's it. When paying back policy loans, is it best to send the monthly payments to the life insurance company or is it best to hold the monthly payments in a traditional bank and then send a lump sum? I would suggest that getting the money back into the life insurance company that you co own is the preferred way of doing that. However, some people like to manage how they take care of their cash flow and prefer to do it and lump sums periodically. There's nothing wrong with that as long as the money's going back. But the quicker it gets back into the life company that you co own, the quicker the life company can get that money multiplying for your benefit, the longer you let it reside in someone else's bank, the more multiplication of money occurs for the stockholders of the bank, not for you as the person who left the money on deposit there. So we would encourage you to get that money back in as quickly as you can.

Which life company do we use?

We prefer to place contracts with Canada's largest mutual life insurance company, which is Equitable Life of Canada and if Equitable Life of Canada is simply not suitable, you know, for our clients objectives, for our clients insurability, there's a variety of different reasons why we may elect to select an alternate life carrier. And those carriers include Sun Life, Canada Life, Manulife and Empire Life. So there's a number of choices that are available to us because we always like to have a contingency in the event that we're unable to get the underwriting through to an approval with the Mutual Life company, you guys benefit from us signing up.

So I'm not sure if that's signing up to have a call with us or what she means by that, but how would you answer that one, Jason?

If it's to create time to speak with the right person on our team, there's no cost associated with that. Your only investment is your time and the advisor's time as well. If you decide at some point to implement this process and you're purchasing a policy or a system of policies, then we are compensated directly from the life insurance company. They set the rate of compensation and we're paid extremely well, very well for what we do and we provide great services as a result and so much more to the client experience. You know, with our online client portal, all of our team members, when you begin to work with Ascendant Financial, you're working with our entire team and our entire team are absolutely outstanding. And you get access to a password protected client portal, quarterly group client coaching sessions, events and just so much more. The list goes on and on. And this is just a bit of a glimpse inside of our password protected client portal with an abundance of resources. So to give you an example, we do quarterly group client coaching sessions and we archive them, we record them and warehouse them inside the portal. So 247365 you're able to log on to the client portal and consume all of that content and it's there for you in perpetuity. And so whenever you have the urge to go back and say, oh, you know, I really wanted to go back and look at that debt recapture case that Sarblo led through in that quarterly client coaching session, I'm going to go back in there and watch that. And if it's Saturday night at 2 in the morning, you don't have to worry about whether or not we're open for business. Our portal is open year round, it never shuts down. And when you need help with just basic things like how to request a policy loan, how to process a policy loan, etc. There's step by step instructions, paint by number tutorials.

How to go about doing that. So you can see here, there's a short four minute video on how to request a policy loan. There's a sample downloadable form. There's so much more content in here. I could spend an hour just taking you on a drive through our portal and just how amazing it is if you head on over to the YouTubes and on the YouTubes you type in Bankers Vault. And once you're on Bankers Vault and you get to that channel, there are more than 230 videos on this channel all about the process, all about the infinite banking concept. For Canadians, recorded by Canadians, for Canadians, it's all here at your fingertips. 24, 7 Isn't that good? What an incredible experience it was yet again with so many amazing people who are engaging and who.

Feel like there's something fundamentally wrong out there with the financial system and couldn't quite put their finger on it. And with a better understanding of the problem, the solution should matter to you now. And so the ball's in your court. No excuses, no explanations, take massive action. And then in 10 years from now, you'll be celebrating really great news with your family and your extended family about how you've changed the flow and you've got that money coming back versus flowing away.