How to Take Advantage of Canadian Opportunities In Business (Make MORE $)

Whatever it is that you're already doing financially, or whatever it is that you're contemplating doing financially, this process of becoming your own banker will radically, radically improve that. The less access that the government has to your surplus capital inside of your corporation instantly makes that surplus capital more valuable and increases the value of the business and again, gives you the control, puts you in a position of total and absolute control.

We've got a captive audience of entrepreneurs and investors, and they're learning about how to grow their wealth, you know, within their business, for their family. There's all different kinds of journeys. Can you talk to us about what you do and how infinite banking can address this audience?

You know, we deal with established entrepreneurs and established, meaning that they're running businesses that are in profit, that are generating profitable revenue, and then with investors who, whether it's real estate or whether it's investors who purchase companies or take advantage of opportunities that track them down. We've been serving clients like that for years. And these, the essence of this process that we're coaching and mentoring our clients to implement the process of becoming your own banker. The infinite banking concept, it's all about recapturing the money so money that's flowing away, and one of the big components of that recapture is the interest. So you think about investors, they're leveraging, they're accessing other people's money in many cases to take advantage of an opportunity. There's interest, expense associated with that. The money's being permanently transferred away. And so we educate on how to recapture that money, how to have that money flowing back to you versus flowing away from you. And that is very, very compelling. When somebody hears that for the first time, especially a business owner, they're thinking to themselves, okay, cash flow is something that's constantly on my mind. Even when you're running an established business, it's always on your mind. Any successful entrepreneur will tell you that they find themselves literally on a daily basis at some point, thinking, gosh, what if we ran into a concern with cash flow? Do we have capital surplus reserves to take us through that? Do we have sufficient financial resources not only if something were to impact cash flow in a negative way, but. But do we have capital to access opportunity that's going to track us down or opportunity that we want to take advantage of? This process of becoming your own banker, the infinite banking concept is an absolute transformer for the business owner and the investor.

I think I've heard you say this many times, radically improves whatever they do.

Yeah, whatever it is that you're Already doing financially, or whatever it is that you're contemplating doing financially, this process of becoming your own banker will radically improve that. I'll share with you, Peter, if I may, just an example of speaking personally and from a business owner standpoint. And so Ascendant Financial is a business that is absolutely incredible. We have an amazing team of people, as you know. I mean, you're thoroughly familiar with our group and you're part of our group and, and you're amazing part of our team. But having ownership interest in several different businesses requires capital. And these opportunities that I was able to capitalize on were only made possible by implementing becoming your own banker. And as a corporate owner, you've got overhead, you have expenses, and you can turn those expenses into cash flow if you know how and it's not how you might think. And so working with an authorized infinite banking practitioner, somebody who can actually talk to you and walk you through the advantages of this process is incredibly important. It's important to work with someone who's thoroughly familiar with it. Now personally, one of the examples that you're very familiar with back in, and this relates to investors as well, back in 2008, you could still get 40 year amortizations on your mortgages. And my wife Rebecca and I, we purchased our principal residence at that time in April of 08. And in July of that same year is when I was introduced to the process of becoming your own banker. The infinite banking concept as pioneered and founded by the late R. Nelson Nash. And, and he wrote this great book by the way, titled Becoming youg Own Banker. And when we began to implement this process, one of our primary objectives was to get rid of the commercial bank as rapidly as possible. Now why would we want to do that? Well, I mean, your capital has to reside somewhere. And so we were able to get rid of the commercial bank. It took us seven years. And the payment that we would have otherwise been obligated to continue sending to the bank is now coming back to our own system. We get to reuse that capital, we get to take advantage of opportunity that tracks us down. I haven't met a single business owner yet or a single investor yet who said, you know, I could really get by with less access to capital. I think it'd be really, you know, that'd be a really good thing for my business or my investment activities. When you have ready access capital, opportunity will track you down. And so if having more ready access capital, a growing pool of financial value that cannot go down, that continually grows every single day without Interruption, does that take away any of your options? No.

May give you more.

Right. And then when you talk about on the business side, the reduction in terms of, if you think about this, the less access that that the government has to your surplus capital inside of your corporation instantly makes that surplus capital more valuable and increases the value of the business. And again gives you the control, puts you in a position of total and absolute control. Business owners with surplus money have limited options. And what many business owners do is they think, I'm going to invest this capital to multiply it. But what many business owners do is they end up taking their own surplus capital out of their own established business and they invest it in someone else's. Makes no sense. And you get to pay 50% tax minimum on the gain through the passive investment income rules that affect corporate entities.

You can completely eliminate that exposure to taxation and eliminate or you know, eliminate, get the bankers out of your life. Because we know how much business owners love to deal with bankers. And you have the money flowing back to the business versus flowing away.

You mentioned a whole lot of things in areas where I can get into, obviously control capital, access to capital for opportunities. What's kind of the biggest mind hurdle that people get through to, you know, paying yourself back versus you have no problem to pay a bank, but people have some reason to have problem paying themselves.

Well.

It'S the way that people have been conditioned to think. We've been led to understand that commercial banks are a trustworthy place to store capital and that when you need access to money, that's where you go, and so on and so on. And when people discover this process and how to implement it, it's a change in thinking.

So when you begin to change the way that you think, the rest is easy.

I've heard you talk about this so many times, right? In terms of not necessarily working harder for it. Can you talk a little bit about that? That sounds too simple.

Well, we share that. You know, to implement this process, we're not talking about changing your financial objectives. We're not asking you to work any harder, as you've pointed out. And you're never losing control of your money. Think about this. Here's the best analogy that I can give you. Regardless of where your income is, what the source is of that income, whether it's T4 income, interest income, dividends, whatever that source of income may be, who sees that money first, it's your bank account, right? And so the money that lands in that account.

Is not your money.

You're just next in line to spend it. The commercial bank cannot let any of that capital sit still. It's a liability to the bank. And so we're not going to ask you to go work any harder. You're still going to carry on the day to day activities that you do to earn income. Just going to change the process of how you're going about financing the things that you need in life, which can certainly include investments. We're going to change the process of who's getting the money and we're going to help you become what R. Nelson Nash referred to as all four characters in the financial play. You have the depositor, the borrower, the banker and the bank owner. And most business owners and investors that we meet with, they are only two of the four characters in the financial play, the depositor and the borrower. But once you become all four characters, you not only solve all of the problems that are mulling around in your mind as it relates to money, but you also create, for lack of better description, indestructible wealth. You create a growing pool of financial value. And investors are always looking for ready access to capital. Business owners are always looking for ready access to capital. And if you can eliminate the stress and the worry because there's no volatility in the process, what a peaceful, very peaceful, stress free way of life it is when you get the bankers out of your life.

As an entrepreneur investor, we're kind of some of the big, I think of some of the hot buttons for them. You know, one is, yeah, you do use a form of leverage, right? So ultimately you are giving up control to someone else as you, as you do that. Taxes is another huge thing. How does this process help your exposure to taxes?

Chartered accountants, when dealing with their clients, I mean obviously they're designated to provide tax advice. But what we see out in the marketplace is unfortunately is a real absence of actual planning. And so when we meet with the business owner and the business owner says, yeah, you know what, reducing my exposure to tax is something that makes sense to me so that I can hire more people, I can grow my business, I can invest in new technology, whatever it is that the corporate owner wants to allocate more capital to, well, this process of becoming your own banker significantly reduces the business owner's exposure to tax. And so that in and of itself, when you reduce exposure to tax, and there's, like we said earlier, every dollar that is inaccessible to the government or the government cannot encroach on that, is a dollar that's instantly more valuable to the business. And so if you're an entrepreneur, if you're established business owner, if you thoroughly believe that having ready access to more capital for all the things that we described is something that would present an advantage to you, then exploring this process of becoming your own banker is something that is an opportunity for you. And that's what I would say to you, Peter, about that as it relates to tax.

Taxes are a reality and we, we understand that we have a need for a variety of different things in our society, which is all great and no issues with that whatsoever. It's just.

Small, medium sized businesses are the backbone of our Canadian economy. And when business owners start succeeding and doing really well, someone from the government steps in and says, you've got to be disciplined. We need to address that. Think about the characters in any movie that are portrayed as the villain. It's the wealthy, successful business owner. We have to change the way that we think. Everyone deserves abundance, everyone deserves prosperity. But when the government says we're here to help you, you should be very, very concerned. Regardless of political leanings, keep more capital available to your business so that you can control how that capital is deployed.

To kind of extend that point, maybe goes to taxes as part of that discussion. But you know, as a business owner, you want to take that money, you want to have control where it goes to, you know, at any certain point in time when you're living to use it now, come back to your family or to give to charity. And that's even talking about passive income time as well.

How does this process help with those areas?

Oh boy. Think about the phases. So you've got the first phase, which is capitalization, so your money has to reside somewhere. The second phase, which is actually the process of becoming your own banker, where you're recapturing the interest, you're recapturing the money that would've otherwise been permanently transferred away from you and by proxy every generation that comes after you. And then you've got the actual passive income time, which others would call retirement. But when you can create a tax free guaranteed stream of retirement income or passive income, and we don't use the word guaranteed and throw that word around too loosely, when you're able to create passive, it means the money shows up. It just shows up. It's there. You don't have to do any work to earn it. You've already created that financial energy in your system up to that point.

As I hear passive income, I think as a business owner there's tax rules around passive income. So this is not exposed to any of those rules.

That's right, yeah, very good point. So there is passive investment income rules that have a very, very detrimental impact on corporations with surplus money that they want to invest. So this process is completely shielded from the passive investment income rules. And when we meet with the business owner and their chartered accountant, we walk through that process. And we walk through it to the degree where quite often, in fact, most often the chartered accountant says, wow, nobody's ever told me that before about that particular tool that you're using to implement the process. This is really, really interesting. Why hasn't anybody shared this with me before? And the tool's always been there. It has always been there. And so being able to shield capital from the passive investment income rules, that in and of itself is an advantage. And then when death comes, and it most certainly will come if the business owner is not financially prepared or structured properly, having most of their net worth tied up in the business with an absence of planning or improper planning, that can create a significant taxable event when that business owner passes away. And so if we can create an abundance of tax free capital that shows up when it's needed the most.

That is a very big relief to all of the surviving shareholders of the business, not to mention the corporation itself not being severely, detrimentally financially impacted as a result of the death of one of the key people in the business. Again, very important to.

Connect with, talk to, work with someone who is thoroughly familiar with the implementation of becoming your own banker, the infinite banking concept. And that person would be an authorized infinite banking practitioner with the Nelson Nash Institute. And all of our team members who advise clients in this area are all authorized with the institute in good standing.

This process has been, maybe this product has been around for a long time. Can you talk about the product, how long it's been around, and then the product versus the process.

So becoming your own banker, the infinite banking concept is a process. It's a platform, a process. It's something that requires coaching. We don't want someone to go about trying to do this on their own. The product that is used as the platform to implement the process is dividend paying. Participating whole life contracts, ideally with a mutual life company. Now when you think about that, it's rather simple once you know the anatomy of the tool. Dividend paying means that as the policy owner, you are a part owner of the insurance company. So you're participating in the divisible profit generated by the insurance company every single year that dividends have been declared, which has been every single year since Inception, which in Canada is now 160, 73 consecutive years. And just pause and think about that for a moment. Peter, We've had a number of events that have occurred over the past 173 years. We've had the Spanish flu, the Great Depression, 30 recessions. That's 3, 0, 30 recessions. The financial crisis of 0809, Covid, SARS, H1N1 and so on. And these companies, these life insurance companies, which cannot inflate the money supply, have been profitable every single year without fail. That's not a coincidence. It's an engineered outcome. And you as the co owner get to participate in the divisible profit generated. And whenever someone hears the word dividend, they think, oh boy, here comes Revenue Canada. And that's not the case. Those dividends do not trigger a taxable event when the election of what to do with the dividend is done properly. And that's what we will teach that policy owner how to do. And you get daily growth and accumulation of cash value. This is real capital that's accumulating on a daily basis. There's no stock market manipulation, there's no government intervention, there's no bad economy that can take any of that accumulation away.

And you get to utilize that growing pool of financial value that becomes your pool, and you get to utilize it as collateral without qualifying. And you get to take advantage of all the opportunities that track you down. Does that take away a person's financial options? And there's a death benefit thrown in for good measure. You know, the life insurance contract, this dividend paying, participating, whole life contract is grossly misclassified. It should have been called a personal monetary system with a death benefit thrown in for good measure. And would you believe it, Peter? We haven't had a single client contact us once in the past 13 years, not once to say, you know what, I'm really frustrated that my cash values keep rising in my policies every day. It's really bothering me. During COVID we've had an incalculable number of clients reach out to us and say, we could reach through the computer and wrap you in a bear hug. And I'm not just referring to me, I'm referring to all of my teammates. We could reach through the computer and wrap you in a bear hug. Thank you. Thank you for not putting us in a position where we're worried financially, we feel comfortable, we're not stressed, we're not worried. We're going to get through Covid. We're going to be okay. Corporate owners, we're able to keep the lights on our team gainfully employed. We're, we're able to innovate, put money into innovating so we can come out of this Covid thing even stronger. So while other businesses sadly are contracting or even shutting down altogether, our clients are in abundant thinking, they're in innovative thinking, they're in progressive thinking because they're not worried. They have a pool of financial value.

That'S there behind all that. You talked about the cash growing every day and I guess, can you compare that to other products? I guess with this product.

It'S on the insurance company to grow the money, Is that correct?

Yeah. 100% of the risk is with the insurance company that the policy itself is a unilateral binding contract. It's not an investment. And so there are legally enforceable guarantees in that contract that the insurance company assumes 100% of the risk to fulfill the policy owner's sole obligation is to deposit premium. That's it. If I had hopped on and said, peter, if you can buy into a business that has been profitable for 173 consecutive years and will grant you access to a growing pool of financial value daily that cannot go down or be interrupted by any stock market that's temperamental or risky, by any government that wants to try and steal some or all of that, if you could gain access to that and be able to achieve all the financial objectives that you've identified and you can create a peaceful, stress free financial way of life, how much capital do you want residing there?

As much as I can put in there.

Precisely. And that's the most frequent response. And so it's really nobody that we've interacted with for the first time has ever really been taught about the anatomy of this tool. In fact, most if you were to deal with a life licensed advisor who's just selling life insurance, they are not going to have that level of familiarity with that tool. And so again, I can't emphasize enough very important to work with someone who's thoroughly familiar with the process and the tool.

We talk about this as a tool. We talk about in the day to day about the wealthy, how they've used this tool for a number of years. Can you talk about how maybe that, but then also how you used it in your family and your business?

My experience growing up, much like you, much like everyone that I talked to, we've been taught to be divisive. So we've heard from our parents or maybe from someone who has influenced us as it relates to the Use of money or some financial education that we've received over the course of our lifetime. And we hear things like, one day you're going to move out of the house, one day you're going to have your own mortgage, one day you're going to have your own bills, one day you'll understand. The wealthy don't talk that way. The wealthy talk about circling the wagons, keeping the money in the family. And so in our own family we have 49 policies.

And when you have all of your nieces, nephews, your siblings, your in laws, when all of those lives are insured and everyone is talking about keeping the money in the family. So when you need property, vehicles, holidays, post secondary education, purchasing a business, expanding a business, whatever activities are going on in the family, if you haven't circled the wagons and you don't have that money coming back, all of that money is flowing away. All of that money is being transferred into someone else's banking system. Where would you rather have the capital reside? And so in our family the language we use is we want all of the car loans, mortgages, post secondary education, business expansion, business purchasing. We want the family to shop at home. Because when the family shops at home, the money stays in the family. And it is remarkable, remarkable the difference that that makes. Because right now for most, most people in your community, they're doing all the work to earn the money for their family, regardless of the source of income. But everyone else is getting all their money. It flows into your account, sits there waiting for you to pay your bills. You take care of all your corporate overhead, your personal overhead. You pay the car loan, the mortgage, the power bill, the cell phone bill. Every single payment that you're making is a deposit into someone else's system. You can change that, you can reverse that flow. You can have that money come back to the family and you get to reuse it again and again and again and again. You just need to first understand the problem, which is what I just described by the way. That is a problem because every time you make the payment for anything that you need in your life, you can't earn interest on that money ever again. You can't reuse money ever again. You've permanently transferred it away from you and it's opportunity to earn interest for you. How soon do you want to change that? The solution to the problem.

Is in this 92 page book titled Becoming youg Own Banker, authored by the late R. Nelson Nash, who I was blessed beyond the definition of good fortune to be mentored by for so many years. Hey, you know what? That sounds like an interesting book and it's something that I'd like to read. You mentioned to me earlier that you are going to share something pretty amazing with your community and so I don't want to steal your thunder, but I was pretty very excited to hear you say that. But this is a book that is a must have and if you read this book with an open mind, it's going to open your mind to an entirely new financial world. I promise you.

Jason, I really appreciate you coming on today. I want to have you back again. Maybe we can dive deeper into specific questions that some people may have as I would love that it relates to certain use cases, right, Certain business cases. Some of you can take a little bit of that back. In the meantime, can you talk about ways that people can get a hold of you or communicate and just learn more about what you do every day? And talking about infinite Banking, if you.

Ease on over to wealth without bay street, that's wealthwithoutbaystreet.com or find us on the YouTubes. You'll see our entire catalog of podcast episodes with some amazing guests and some wonderful content and there's no costs associated with that. And so feel free to ease on over there at your convenience. We can be found at AscendentFinancial CA. Again, that's AscendantFinancial CA. We have a great website with an abundance of resources there and I know Peter for the community, for people who want to get access to our Nelson Nash's book and we will send a copy of R. Nelson Nash's book, we'll ship it anywhere in Canada and get it in the hands of any of your community members who want to take the time to read it and to open their eyes to a whole new financial world.