How To Take Control Of Your Money Without Begging The Canadian Bank

The commercial bank is putting that money to work for the shareholders of the bank and they're not sharing any of that profit with you. And then you're forced to go to the bank and require, you know, to apply for a loan. If you need to access capital so you can make a major purchase in your life, you have to jump through all their hoops that is begging the bank for money. Now it doesn't have to be that way.

Hello and welcome. My name is Vernon McCarty and I'm a member of the ascendant financial team. I get to work with really good people like you every day. Coach on the process of becoming your own banker. Today's video is called how to take control of your money without bagging the bank. So let's talk about that for a second. We all know by now if you're looking at this video, you're doing all the work and someone else is getting all of the money. You get paid and it immediately gets land, it lands into the commercial banking system. The commercial bank is putting that money to work for the shareholders of the bank and they're not sharing any of that profit with you. And then you're forced to go to the bank and require, you know, to apply for a loan. If you need to access capital so you can make a major purchase in your life, you have to jump through all their hoops that is begging the bank for money. Now it doesn't have to be that way. We can set up a structure such that your money is working for you 24 hours a day, growing daily and gaining momentum for the rest of your days on earth and, and for future generations as well. And so I wanted to share with you a little bit today what's possible when you can take control of the banking function in your own life and be able to access money without having to bag the bank. So I'm going to share some examples in terms of what I do and how I access the money for my policy system and what that allows me to accomplish for my family. Now I am a coach on the ascended financial team. I get compensated by the life insurance companies that we do business with. And I don't have a T4 income earner. I'm a contractor, I'm self employed. There's many different ways that you could say that. Now I don't know if you've ever been a business owner or a contractor before, but when you sign up to be a business owner, a lot of times people think, oh that's great, you know, pie in the sky. You're living the life and all that sort of thing. But that's actually not the case. Business owners who are tuning in right now understand what I'm saying. You actually say goodbye to security, you say goodbye to regular income, you say goodbye to that weekly or bi weekly paycheck that shows up. So sometimes when you're a self employed person, a pay period will roll by or a two week basis, whatever you want to call it. And guess what shows up? Zero. No dollars. Now luckily for me, having worked at this process controlling the banking function as it relates to my family's needs, this isn't something that I concern myself with anymore. Because I've got such large cash reserves built up in my policy system, I can access money whenever I need it. So what happens is what I do instead of spending my own money that I've worked so hard to earn money lands in my bank account. And what I do is I take 100% of that capital and I send it right back to my policy system to deposit for premiums, to repay policy loans, to hold money on reserve for other opportunities. I'm always pumping money back into my own policy system and turning the wheels of the insurance company that I'm a co owner in because I want to give them more money, to put more money to work, to grow more profit, to share with me and all of the other policy owners that co own the bank. See it's just like banking. You're already doing this today, except your money's now circulating through the commercial banking system and turning the wheels of the commercial banking system and lining the pockets of the shareholders of the bank. That's why we call it a problem. Banking is a problem. But banking is also a solution. If you can control the banking function as it relates to your needs in your life. And you know, at any time during this video you might find yourself saying, gosh Vern, this sounds really good. I'd love to hear more about it. And if that's you, then what I would encourage you to do is check the link in the description of this video. It'll send you directly to the Ascendant Financial Bookstore where you can access a copy of this book, Becoming youg Own Banker that was self published by our great mentor R. Nelson Nash, where you can really start to gain context for what this problem is more about the banking function and the process of banking and how the solution which is becoming your own banker. So what I do is, you know, instead of, you know, when my money lands in the bank, instead of spending all that money or the little, the cash that I need for my family, what I do is I send it to the insurance company and store it in my own banking system. But during that process, what I'm actually doing is I'm also requesting, I'm demanding, if you will, policy loans for my own policy system. Whatever I determine is my income need. On a bi weekly basis, I set my loans up such that they land in my bank account within a day or so of when my paycheck lands. Because I actually, even though I'm a contractor for Ascendant Financial, there's a, you know, obviously a pay cycle that occurs. So when my pay cycle happens, I'm also getting a policy loan landing in my bank account at the same time. So now I'm actually going to use the policy loan. I'm going to use the insurance company's money as my income to pay my family's living expenses over that next two week period. So that's why I'm recycling my own capital through the policy system. I'm just sending my money right back to the insurance company and I'm spending their money because my money stays in the policy pool. It grows every single day uninterrupted and I'm using that value as collateral. And the insurance company is contractually obligated to lend me money based on the value within my policy system. So my money stays in the policy. When they send me a policy loan, that's not my money, that's the insurance company's money. They're just contractually obligated to lend it to me as soon as I demand it. So now I'm paying my own family's bills with the insurance company's money while my money grows uninterrupted. Now why is that important as it relates to this video title? Well, like I said earlier, sometimes these weeks go by and there's a lower or than what we need for income or a zero or what have you. Now I'm blessed beyond the definition of good fortune that that doesn't happen very often. But I don't really think about it and I don't worry about it anymore like I used to prior to practicing this concept. Matter of fact, a few weeks ago my income showed up my compensation from the company and it was about 1/4 of what I actually needed for that two week period. No worries. At the very same day, the amount of money that I requested from the insurance company landed in my bank account. So I took the income, the pay and I sent it right back to the policy system to replenish part of the pool that I was using. And then I had the cash value in my or the policy loan in my bank account so that I could feed my family and not have to think or worry about income. So taking control of the banking function is so critical in your life. It just gives you cash flow confidence. It puts you in a position of power, and you're always pooling and accumulating capital so that when opportunities arise, you can go ahead and take advantage of those opportunities. Opportunities will track you down. You don't have to be desperate looking for opportunities, trying to leverage different assets, and building a Sandy foundation in hopes that everything works out. My capital is growing every single day. I just, you know, I feel good about that. It makes me feel good, helps me sleep at night. And like I said, I'm pooling and accumulating capital so that I can take advantage of opportunities. One of the things my mentor, Jason Lowe always shares and one of our colleagues that we work with, I'm sure you're familiar with Jason by now. He's the founder of Ascendant Financial. He says, you know, when you're. The minority of people are controlling and accumulating capital and. But we continue to do what the majority of people in the world do financially, and we wonder why we don't get ahead. It makes no sense. Now, that could have come from Nelson, but either way, I heard it directly from Jason. And so I give that credit to Jason, but think about that for a moment. The minority of people on the planet are controlling and accumulating the capital, and they're creating wealth. But we continue to do financially what the majority of people in the world are doing and wonder why we don't get ahead. So focusing on the banking function and controlling that as it relates to your needs, it's only going to enhance whatever it is that you're doing financially today. So this brings me to my next point. I want to share a quick story with you. I just had a conversation with somebody who's looking at implementing the process of becoming your own banker. You know, we've talked about many things on that call, but one thing that we talked about is, you know, he says, you know, what can I do with the system? Or, you know, how does the system work? And I was telling him about different things that he could do, right? And really, you can do anything with the process of becoming your own banker that you have the need for the use of money for. And so that includes, you know, could include, you know, paying for your Living expenses could include eliminating third party debt. It could include even investing. And so we happened to talk about that. He said, you know, I paid off all my. I wish I would have talked to him before he told, before he did all this, but he told me he sold his house and so he paid off all of his debt with that. And so he still has some capital left over, but he has no consumer debt right now and no mortgage. So he's just looking for opportunities. Because I'm learning, I'm trying to find ways to grow my money and trying to create more income streams and all that kind of thing. He goes, right now I'm putting money into questrade. I don't know a lot about questrade. I can tell you that. I personally don't put my money into electronic assets like that. I don't put my money into the stock market. It's not something that I do. I'm not saying there's anything wrong with that, but this is just something that he's doing. So think about this for a moment. This is exactly what I shared with him. I said, oh, that's great. Well, that's really good. You know, you're putting money into questrade. Good for you. You're trying to learn and do that. That's something that you are doing. Good for you. Now let's look at that process for a moment. I said to him, I said, okay, let's say you take your cash and you put it into an investment. Doesn't matter what the investment is. Now where is your cash? Well, my cash is in the investment, right? So is your cash growing right now? The answer is no. If the investment's growing, great. The investment's growing though. But the cash is gone. The cash was used to purchase the investment. Make sense? Okay, awesome. Now let's contrast that with the process of becoming your own banker. We know that we're making deposits, we're capitalizing our banking system so that we can build up our cash value and we can actually access cash from the policy as a form of policy loan, and we can do whatever we want with that money. So now I build up my policy system, I access a loan, I put that into my investment, whatever that investment is. Now let's assume the investment's growing and doing good. So my investment's now growing, but what's happening to my cash? If you said your cash is growing uninterrupted every single day and it's contractually guaranteed, you're correct. So now my cash is growing every single day in the policy system and my investment is growing and I'm accomplishing this objective. My friend Sarblo calls it dual compounding. We're compounding our money in two places for the same dollar. I put the premium in then I access capital, I purchase the investment. My investment's growing and my cash value is growing as well and then I can just, you know, keep recycling money back through my policy system to replace what I used for the investment or whatever other need for money that you had. So I hope this gives you some really good value and a practical example in terms of how taking control of the banking function and how you can access money without bagging the bank by becoming your own banker. I hope this helps add some value and I mentioned Nelson's book earlier and you can also tune into some of the videos on the side here from the playlist that's likely connected to this video. Okay thanks so much for watching and until next time. Okay take care.